Patty Arvielo, President, New American Funding
New American Funding
In more than 35 years in the mortgage industry, Patty Arvielo has continually demonstrated her passion for making sure everyone has an equal opportunity to achieve the American dream. In 2016, she formed the New American Dream Initiative, which seeks to raise awareness and increase homeownership among African-American communities by building consumer confidence through home-buying education and accessibility to relevant home loans. In the same year, Arvielo collaborated with Freddie Mac to establish and launch a unique mortgage pilot program called Your Path, which extends affordable homeownership opportunities to a broader demographic of American borrowers via Freddie Mac’s low-down-payment Home Possible mortgages.
Arvielo was just as busy in 2017. She created the Community Lending Division, which fosters nationwide partnerships with nonprofits and community banks to provide affordable loan programs and homebuyer education to consumers. In May, Arvielo announced her company’s commitment with the National Association of Hispanic Real Estate Professionals to increase Hispanic homeownership by lending $25 billion in new mortgages to Hispanic borrowers by 2024. In July, the CFPB appointed Arvielo to its Consumer Advisory Board, and in October, Arvielo hosted an event called “Ahead of the Curve,” which focused on discussing the millennial generation, technology, marketing and addressing the needs of LMI communities.
On top of all of these accomplishments, Arvielo continues to manage nationwide operations and sales for New American Funding and still originates her own loans. She also sits on numerous committees and continues to pursue her passions of helping underserved markets achieve homeownership and mentoring women in the mortgage industry.