New American Funding is an independent mortgage lender headquartered in Orange County, California, that is dedicated to helping families and individuals improve their quality of living through home ownership. In 2003, founders Rick and Patty Arvielo combined their expertise to create a progressive business that quickly grew from a 40-employee call center into a national mortgage banker and industry powerhouse. Learn more at www.newamericanfunding.com
The impact of providing tech and marketing assets to LOs is hard to overestimate. Instead of building websites, creating marketing materials from scratch, figuring out a social strategy or trying to generate positive reviews, loan officers can focus on their most important job: originating loans.
For New American Funding, 2017 was a banner year. In a time when some lenders saw contraction, New American Funding opened 31 branches and hired more than 1,000 new employees, including 330 outside loan officers. In addition, the company funded approximately $900 million in home loans per month and grew its servicing portfolio to $22 billion.
New American Funding has been developing its own technology for years, a natural result of Rick Arvielo’s passion to innovate the process beyond what was available. In the early 2000s, few loan officers were interested in how tech could make their business better. Today, New American Funding’s deep technical expertise is a clear differentiator for loan officers who want to grow.
Eight years after we began recognizing women for their influential work in the expanding housing and mortgage finance ecosystem, a traditionally male-dominated field, our Women of Influence list is bigger and better than ever! This year, we honor 85 women who are making lasting achievements in each sector of the housing economy. Read on to learn more about these accomplished women and the strides they are making in their industry segments.
The financial world at large is experimenting with changing its workforce culture in ways not fathomable 10 years ago. For example, in 2011, the dress code for female workers at UBS came to light with unflattering results. In it, the Swiss bank instructed female employees on not just how to dress and how to smell, but also preached the importance for ladies to apply lotion after taking showers. Fast forward to today and fellow Swiss bank, Credit Suisse has now created an official role to boost equal opportunities and create a fair treatment environment. Has the American mortgage industry made similar progress?
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.