Name of Organization/Company: New American Funding, Tustin, CA USA
Category: Employer of the Year - Financial Services
New American Funding is one of the biggest mortgage companies in the U.S., helping thousands of families achieve the American dream every year. But unlike other mortgage companies, New American Funding isn’t just about the numbers. New American Funding cares deeply about both its customers and its employees. That’s why this thriving company is loved by customers, adored by employees, and envied by competitors.
This achievement did not happen by accident. New American Funding is a highly respected, well-liked, and admired leader in the mortgage business; the result of nearly 20 years of business and culture development.
Founded in 2003 with just a couple dozen employees, the company has grown into a national lending powerhouse with approximately 5,000 employees at over 186 locations nationwide.
New American Funding is also recognized as one of the most diverse workforces in the financial services industry. Buoyed by expansion, women make up 61% of all employees; 45% of all employees are minorities, and 38% are Millennials.
Strategic business development made New American Funding one of 20 biggest lenders in the United States. Meanwhile, employees rave about its culture, leading the company to be named a Great Place to Work in various categories each year.
In 2020, the company embraced the shift to remote work, working to keep its employees physically and mentally healthy during the pandemic. As part of this effort, the company promoted wellness and productivity through a series of work-from-home life videos. President Patty Arvielo also appeared in monthly videos, providing employees with tips for continued success. These videos generated thousands of views over the course of the year.
Additionally, the company hosted numerous virtual contests, games, and other team-building experiences to keep employees engaged with the rest of their teammates.
The company also works hard to retain its employees, offering several distinctive benefits, several of which were introduced in 2020.
The company offers sizable referral bonuses to employees whose recommendations lead to a successful hire. These bonuses were substantially increased in 2020 due to a critical need to increase staffing. These bonuses were vital in the company’s hiring of more than 2,700 people last year.
In 2020, the company recognized that employees were not utilizing their vacation time due to the pandemic’s impact on travel. To ensure that all employees were given their full benefits package, the company offered all employees an optional one-time payout for excess vacation hours accrued during the year.
New American Funding also provides a unique mortgage benefit, offering its employees a substantial discount on a mortgage originated through the company. This can save employees thousands of dollars each year on their home.
These efforts increased employee retention by 13% in 2020 while hiring increased 79%.
New American Funding prides itself on fostering a culture that respects and appreciates differences among employees. That culture, known as “NAF360,” ensures that all employees feel valued and balanced in their work and their lives.
This culture has won the company repeated recognition as one of the nation’s best workplaces by Great Place to Work®, including Best Workplace in Financial Services and Insurance, Best Workplace for Women, and Best Workplace for Millennials.
The company offers high-level training programs for employees who are new to the complex mortgage business. In 2020, New American Funding shifted these programs to virtual, enabling the company to prepare thousands of new employees for success both remote and in the office.
The company also nurtures existing employees, offering innovative virtual mentorship programs that provide employees with coaching and guidance for their careers and their lives. In these programs, the company’s chief executives and other successful employees share high-level career and life coaching with hundreds of employees per year.
The company also launched “The Listening Circle,” a program which is designed to raise awareness of important topics and enact necessary changes in those areas. The program has already attracted hundreds of employees who discuss thoughts on current events and cultural issues.
These efforts were especially important as the company shattered all its previous lending records. However, instead of cracking under the pressure of its surging business or forcing its employees to work twice as hard to fill the gaps, the company nearly doubled its workforce in 2020.
New American Funding is frequently recognized for its culture. The company has been named a Best Workplace in Financial Services & Insurance for six straight years. The company has also been named a Best Workplace for Women. Additionally, the company was named a Best Workplace in Texas, a Top Workplace in Atlanta, and a Top Workplace in Orange County, California for nine straight years.
The company’s executives are also often honored for their achievements.
New American Funding also recently won six Stevie® American Business Awards®, including three gold, one silver, and two bronze. The company won Gold in Company of the Year – Consumer Services, CEO Rick Arvielo was awarded Gold for Maverick of the Year – Consumer Services, and President Patty Arvielo won Gold for Woman of the Year – Consumer Services.
The company also won a Silver for Fastest Growing Company of the Year – 2,500 or More Employees. New American Funding also won a Bronze for Marketing Department of the Year and a Bronze for Marketer of the Year.
Additionally, New American Funding Chief Operating Officer Christy Bunce was recently named a 2021 Mortgage Star by Mortgage Women Magazine. Chief Investment Officer Jason Obradovich was also recently honored as a housing industry Finance Leader by HousingWire.