New American Funding Names New CEO, President

New American Funding (NAF), an independent mortgage lender based in Tustin, Calif., said Tuesday it has promoted Patty Arvielo to CEO and Christy Bunce to president.

Arvielo founded New American Funding two decades ago with her husband, Rick, who also serves as CEO. Bunce has been the Arvielos’ partner in leading New American Funding for nearly 15 years, most recently as chief operating officer.

Bunce joined NAF in 2008, initially serving as operations manager. Her role grew with the company, with her experience and expertise in loan processing, underwriting, and funding serving as a guide.

New American began as a California-based call center but has grown into a nationwide lender with a large retail footprint, the company said.

Bunce was named COO in 20112. Since then, New American Funding has increased both its business and its workforce exponentially, the company said. When she began at New American, the company had zero retail footprint and dozens of employees. Now, it has 170 nationwide locations and more than 3,500 on staff.

"Christy Bunce has truly been invaluable to our company over the years," Rick Arvielo said. "Christy has been instrumental in helping us build this company into the envy of the industry, which is why we're proud to have her step into this critical role at NAF.”

He continued, "Her leadership, experience, and insight will continue to be critically important as we expand into exciting new areas beyond mortgages and continue in our mission of helping deserving people achieve the dream of homeownership.”

In her previous role as COO, Bunce managed day-to-day operations. She also oversaw the creation and expansion of the company's mortgage-servicing division.

Over the course of her career at NAF, Bunce also pushed for the company to become a Fannie Mae, Freddie Mac, and Ginnie Mae direct lender, seller, and servicer. She now works closely with the GSEs and the federal government on lending initiatives, specifically those for typically underserved communities.

In her new role as president, Bunce will continue to manage the company's day-to-day operations while using her expertise and experience to help shape the future of NAF as it expands into new lines of business, grows its suite of offerings, and further solidifies its position as an industry leader.

Patty Arvielo will continue to lead NAF as CEO alongside her husband. Together, the Arvielos will further the company's mission of helping deserving individuals and families across the country achieve the dream of homeownership, the company said.

Arvielo created New American Funding's Latino Focus and New American Dream initiatives, efforts designed to boost homeownership and mortgage industry career awareness among Hispanic and Black communities, respectively.

New American Funding is an independent mortgage lender with 170 nationwide locations and a servicing portfolio of over 243,000 loans valued at approximately $64.2 billion.