New American Funding Promotes Christy Bunce to President

Patty Arvielo elevated to CEO

TUSTIN, Calif., Feb. 21, 2023 /PRNewswire/ -- New American Funding, a leading mortgage lender, is thrilled to announce that it is strengthening its leadership structure by elevating Patty Arvielo to CEO and promoting Chief Operating Officer Christy Bunce to President.

Arvielo founded New American Funding two decades ago with her husband, Rick, who also serves as CEO. The Arvielo's partner in leading New American Funding for nearly 15 years has been Bunce.

Bunce joined NAF in 2008, initially serving as Operations Manager. Bunce's role at the company grew alongside the company itself. Bunce's experience and expertise in loan processing, underwriting, and funding served as a guide for the company's growth from its beginnings a California-based call center to a nationwide lender with a massive retail footprint.

In 2012, Bunce was named Chief Operating Officer. Since then, New American Funding has increased both its business and its workforce exponentially. When Bunce began at New American Funding, the company had zero retail footprint and dozens of employees. Now, the company has 170 nationwide locations and more than 3,500 employees.

"Christy Bunce has truly been invaluable to our company over the years," Co-founder and CEO 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.

"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," Arvielo continued. "These moves couldn't come at a better time as we look to the future of our amazing company. We couldn't be prouder to be continuing this journey together."

In her previous role as COO, Bunce managed the day-to-day operations of one of the nation's largest lenders. Bunce is involved with every aspect of New American Funding's business, which has helped the company expand into the successful organization it is today.

Bunce also oversaw the creation and expansion of the company's mortgage servicing division, which became the envy of the industry after being named the best mortgage servicer for client satisfaction according to the J.D. Power 2022 U.S. Mortgage Servicer Satisfaction Study.

Over the course of her career at New American Funding, Bunce also pushed for the company to become a Fannie Mae, Freddie Mac, and Ginnie Mae direct lender, seller, and servicer. Bunce now works closely with the GSEs and government on lending initiatives, specifically those for typically underserved communities, areas where New American Funding focuses its business and therefore has expertise in.

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 New American Funding 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 Rick Arvielo. Together, the Arvielo's will further the company's mission of helping deserving individuals and families across the country achieve the dream of homeownership, including leading the company's efforts to helping those in underserved communities buy a home.

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. These efforts led to the company becoming one of the leading lenders to borrowers in each of these important categories.

For more information about New American Funding, visit NewAmericanFunding.com.

About New American Funding

New American Funding is an independent mortgage lender with a servicing portfolio of 243,000+ loans for approximately $64.2 billion and 170 nationwide locations. In 2022, New American Funding was ranked #1 by J.D. Power in Customer Satisfaction among Mortgage Servicers. The company was also named #18 on the Fortune 100 Best Companies to Work For® in 2022. The company offers state-of-the-art career training and provides its branch Loan Officers with innovative technologies to streamline the mortgage process.

SOURCE New American Funding