The Mortgage Bankers Association (MBA) has recognized New American Funding
with its Diversity and Inclusion Residential Leadership Award for Market Outreach Strategies for companies with more than 1,000 employees. MBA Chairman David Motley presented Co-Founders Rick and Patty Arvielo with the award during MBA’s 104th annual convention and expo in Denver.
The Marketing Outreach Strategies Award salutes New American Funding’s hard work, dedication, and creativity in developing Latino Focus Committee and New American Dream. MBA commended both initiatives as exemplary diversity and inclusion programs that are reaching the industry’s fastest-growing market segments.
“It’s an honor to receive this recognition. We’re passionate about making an impact,” said New American Funding President Patty Arvielo
. “We believe it’s our responsibility to develop effective programs that equip more hard-working Americans with the opportunity to become viable homeowners.”
Arvielo established both initiatives as a means of serving underserved consumers. In 2013, she formed Latino Focus to enrich the Hispanic community with affordable homeownership opportunities; in May, New American Funding furthered that commitment by pledging to lend $25 billion
in new mortgages to Hispanic borrowers by 2024.
Arvielo also created New American Dream as an avenue for educating African-American consumers and to equip them with access to relevant home loan options. Since then, she has become a frequent guest of Armstrong Williams’ Sirius XM Urban View radio show, where she has educated African-American consumers regarding homeownership.
Due to her role as a national housing advocate, earlier this year, CFPB appointed Arvielo to its Consumer Advisory Board
. She’s also a member of the Corporate Board of Governors for the National Association of Hispanic Real Estate Professionals (NAHREP); and in 2016, the LA Times recognized Arvielo’s contributions by honoring her with its Latinos de Hoy Business Award for stellar leadership and service.