Artificial intelligence is poised to reshape mortgage lending operations and consumer engagement while also raising concerns about workforce disruption across the industry, two mortgage executives said during a panel discussion at HousingWire‘s The Gathering in Austin.
Speaking at the event on Tuesday morning, Patty Arvielo, CEO and co-founder of New American Funding (NAF), and LaTasha Waddy, president of NFM Lending, discussed the rapid adoption of AI tools, leadership challenges and the future of mortgage lending during an onstage conversation focused on industry transformation.
Arvielo said the industry is entering a period of accelerated technological change that could fundamentally alter how lenders operate and interact with borrowers.
“I feel like we are on the same journey in figuring out speed to lead speed to the consumer,” Arvielo said, referring to her company and to her competition. “Those who control the consumer will control the transaction.”
The conversation came as major mortgage companies continue to pursue acquisitions and expansion strategies. Asked whether she still viewed Rocket Mortgage as a company to emulate following its acquisitions of Redfin and Mr. Cooper, Arvielo said she admired the scale Rocket has built but expressed caution about integrating multiple platforms and corporate cultures.
Instead, she said New American Funding is focused on organic growth while leveraging AI to improve operational efficiency and strengthen consumer relationships.
Waddy said the speed of AI adoption is unlike anything the mortgage industry has experienced before, describing the technology as capable of impacting “every section of the mortgage process.”
Both executives said AI could reduce repetitive tasks and lower origination costs, but both acknowledged growing anxiety among employees concerned about job security.
“I’m extremely excited … with AI. I also am extremely concerned,” Arvielo said. “I’m concerned about what it’s going to do, first, to everybody in operations.”
She said employees have already started asking leadership how automation will affect their roles, something that Arvielo says requires her to be “intentional” about AI implementation.
Waddy said that she has fielded similar concerns from staff, particularly in post-closing operations as lenders increasingly automate portions of the process. Still, she argued that human expertise will remain essential as borrowers increasingly seek more specialized products, particularly among self-employed workers and gig economy participants.
Arvielo and Waddy’s discussion also focused on leadership and the lack of women in executive positions within mortgage banking. Waddy noted that fewer than 3% of presidents and CEOs in the mortgage industry are women.
Both women guide companies that are among the nation’s leading independent mortgage banks. Inside Mortgage Finance reported that NAF was the country’s 29th-largest lender in 2025 with $16.33 billion in volume, while NFM ranked 47th at $7.25 billion.
Their businesses are also driven by high-volume producers across the country. NAF had 165 loan officers on the 2026 HousingWire Mortgage Rankings who did at least $20 million in loans last year, while NFM had 114 LOs on the list.
Arvielo, who has spent more than four decades in mortgage lending and is a mentor to Waddy, said increasing female representation in executive leadership has become a personal mission.
“I will not retire from this industry without more women sitting at the top of the house — CEOs, founders, presidents,” she said.