The Pulse

Dart Appraisal has grown its panel of appraisers in Washington state by 15 percent since October 2016
Dart Appraisal has grown its panel of appraisers in Washington state by 15 percent since October 2016. Washington, and more specifically, greater Seattle, has been one of the most competitive real estate markets in the country for the past year.
 
“It’s no secret that Seattle has been, and remains today, an incredibly hot market,” said Michael Dresden, president of Dart Appraisal. “AMCs across the industry have been experiencing extended turn times for appraisal reports. To best serve our clients that are based or lend in the Pacific Northwest, we wanted to ensure we had the most robust appraiser panel available. That’s why we personally went into the market, to meet and get to know the appraisal professionals working in and around Seattle.”
 
The Michigan-based AMC hosted four networking events in Seattle, two in October 2016 and two more in January 2017. In-person appraiser recruiting is fairly uncommon in the AMC space, as most companies rely on electronic methods to build their appraiser panel. Dart Appraisal requires their panel appraisers to be state-licensed or certified and have completed at least 1,000 appraisals.
 
“We’ve spent 24 years developing our appraiser panel, and we place a strong emphasis on getting to know the appraisers we work with,” Dresden said. “By meeting local appraisers face to face, we were able to substantially grow our panel as well as have productive conversations about how we can best work together for the benefit of our lender clients.”
Castle & Cooke Mortgage has announced that mortgage sales veteran Jaeson Morris and three members of his sales team have joined the company’s Brentwood, Tenn. office
Castle & Cooke Mortgage has announced that mortgage sales veteran Jaeson Morris and three members of his sales team have joined the company’s Brentwood, Tenn. office. Morris will serve as branch manager, in tandem with current Branch Manager Rodney Jones.
 
Morris brings more than 13 years of mortgage experience in Tennessee to his new role, including expertise in conventional, FHA, VA, rural development and manufactured home financing. Most recently, Morris served as a branch manager at 1st Financial in Brentwood. Three members of Morris’ sales team, including a loan officer, a loan officer assistant and a loan processor, have joined him in making the move to Castle & Cooke Mortgage.
 
“As Tennessee’s housing market continues to heat up, we are delighted to have someone with Jaeson’s experience and leadership skills join our team,” said Castle & Cooke Mortgage Regional Manager Glenn Hodge. “Jaeson and his staff have an exemplary track record of serving borrowers in our area. Their efforts will be key as we continue our growth in the region.”  
 
Morris said, “I’m thrilled to join a lender with the resources, tools and support needed to create a consistently excellent mortgage experience for customers. My team and I look forward to leveraging Castle & Cooke’s strengths to serve buyers and homeowners throughout the area. The Nashville housing market is on fire, with many areas seeing double-digit price increases from last year. Yet many first-time buyers are anxious about getting a mortgage and aren’t sure what they can afford. As a first-time-buyer, the best way to get started is to find an experienced mortgage professional who takes the time to understand your situation, and who can help create a plan for success.”
LenderLive Network LLC has announced that it has reached a definitive agreement with PHH Mortgage Corporation to assume its private label fulfillment operations in Jacksonville, Fla.
LenderLive Network LLC has announced that it has reached a definitive agreement with PHH Mortgage Corporation to assume its private label fulfillment operations in Jacksonville, Fla. In late 2016, PHH announced that it would exit the private label fulfillment business, and this agreement is expected to facilitate a smooth transition for both PHH employees and clients.
 
All the appropriate parties, including the board of directors of PHH and LenderLive, have approved the agreement. The deal is expected to close by the end of the first quarter of 2017, as it is subject to certain regulatory requirements. At that time, the transitioning associates will become LenderLive employees and the operations center in Jacksonville will be rebranded as LenderLive.
 
Under the agreement, PHH will outsource loan processing, underwriting and closing activities to LenderLive until the contracts with its current clients served out of Jacksonville have been transitioned and/or completed. LenderLive has agreed to service these accounts from the operations center in Jacksonville and to hire approximately 250 to 300 employees of PHH to work out of that location. Over the course of 2017, it is the intention to transition the clients requiring outsourced fulfillment services to LenderLive, the company said. In addition, the Jacksonville operations center, which is capable of supporting nearly 700 employees, will provide LenderLive the opportunity to expand its operations to meet the significant demand for services from LenderLive’s current and future clients.
 
"We are excited about the opportunity of adding a significant number of talented mortgage professionals and establishing a new operations center for LenderLive in Jacksonville,” said Rick Seehausen, chief executive officer of LenderLive. “The arrangement accelerates our long-stated imperative of driving scale and operating leverage in our private label Mortgage Solutions business. We look forward to welcoming our new associates and demonstrating the benefits of our platform and business model to PHH clients. This is a win-win for everyone involved."
Michigan Mutual has named Greg Campbell director of its Wholesale Lending Division
Michigan MutualMichigan Mutual has named Greg Campbell director of its Wholesale Lending Division, where he will be responsible for supporting the existing national sales team as well as expanding the company’s national footprint.
 
“Greg is a proven team player who has a track record of not only meeting but also exceeding every challenge he faces,” said Bruce Carr, chief executive officer of Michigan Mutual. “His understanding of the importance of operational processes and being able to respect business partners is fundamental to our continued success. Greg recognizes what customers want and understands what the account executives need to make a strong and lasting partnership.”
 
Campbell began his career at MiMutual in 2002 as a marketing trainee. His professional profile is characterized by successfully aligning the goals of the sales team and company by providing constant communication and strategic planning with effective responsibility assignment and problem resolution. 
 
“When I joined Michigan Mutual 14 years ago, I was impressed with the level of commitment the company had to service, not just to customers but to one another and that has not changed during my tenure,” Campbell said. “Understanding the challenges of our wholesale customer is key to the success of Michigan Mutual.” 
HomeBridge Financial Services Inc. has announced the completed purchase of the operating assets of Prospect Mortgage LLC from Prospect Holding Company LLC
HomeBridge Financial Services Inc. has announced the completed purchase of the operating assets of Prospect Mortgage LLC from Prospect Holding Company LLC. First announced Nov. 1, 2016 and completed Feb. 2, 2017, the purchase now makes HomeBridge one of the largest non-bank mortgage lenders in the country, with retail branches nationwide and two thriving wholesale divisions, REMN Wholesale and HomeBridge Wholesale. As a result of the acquisition, HomeBridge will also become one of the 10 largest non-bank mortgage lenders in the U.S. for overall production.
 
HomeBridge CEO Peter Norden, President Joel Katz and Chief Operating Officer Joe Sheridan will continue to lead the business.
 
“HomeBridge’s acquisition of Prospect’s operating assets vastly increases our ability to service the needs of home buyers and the greater housing industry in both existing and new markets. Through the acquisition, we now have improved access to capital while remaining the entrepreneurial and nimble mortgage lender the industry knows us as,” said Norden. “As an independent mortgage lender, HomeBridge is an industry leader in its ability to effectively balance profitability and volume, while continuing our commitment to operating in compliance and providing customers with a level of service rarely seen in the financial world.”
 
In connection with the asset purchase, approximately 500 mortgage loan originators from Prospect, responsible for $8.4 billion in loan production in 2016, are now HomeBridge mortgage loan originators.
 
Other highlights from the acquisition include:
 
►HomeBridge’s retail footprint now includes more than 250 branch locations in 35 states.
►Approximately 413 operations and 246 corporate associates joined HomeBridge, bringing the total number of full-time HomeBridge associates to nearly 3,000.
►HomeBridge will become the nation’s largest producer of 203(k) renovation mortgages, with more than double the production of the nearest competitor. The U.S. Department of Housing and Urban Development listed Prospect and HomeBridge first and second, respectively, in its recent year-end 203(k) endorsement summary report.
►HomeBridge remains licensed to originate loans in 49 states and Washington, D.C.
Inlanta Mortgage has announced the addition of Brian Jensen, regional vice president of Business Development
Inlanta Mortgage has announced the addition of Brian Jensen, regional vice president of Business Development.
 
“Inlanta has seen significant growth over the past year,” said Inlanta Mortgage President and CEO Nicholas DelTorto. “We moved our corporate headquarters to a new building to accommodate our expanding staff, we have added four branches within the last quarter, and we want to expand our footprint in Colorado and Texas and continue to grow our presence in the North East and elsewhere across the country. Brian Jensen will help us accomplish our planned growth strategy by serving a vital role on our business development team.”
 
Jensen comes to Inlanta Mortgage with more than 26 years in the mortgage business and has worked in both wholesale and retail sales, capital markets, finance, servicing, and REO management, giving him a remarkable base of expertise to adapt to changes in the market.
 
“There are some simple guiding principles behind Inlanta’s success that drew me to the company: integrity, strength, service, and respect,” Jensen said. “These guiding principles, along with their commitment to investing in cutting-edge technology and in having the best tools and process available to their highly qualified loan officers, are absolutely the secret sauce to this firm.”
Castle & Cooke Mortgage has announced that mortgage sales veteran Jaeson Morris and three members of his sales team have joined the company’s Brentwood, Tenn. office
Castle & Cooke Mortgage LLC has announced that Lance Culp has joined the company’s Greenwood, Ind., branch. With 14 years of mortgage industry experience, Culp brings to Castle & Cooke Mortgage a vast knowledge of new construction financing and established relationships with some of the largest builders in the greater Indianapolis market.
 
“I have known Lance for quite a few years, and his integrity and work ethic will blend so well here,” said Karen Smith, manager of the Greenwood, Ind. Branch. “He has a great reputation and is a top producer in our industry.”
 
Culp enjoys working with first-time homebuyers who may be in need of downpayment assistance, as well as clients in the market for million-dollar homes, plus everyone in between. He has encountered many different borrower scenarios over the years and thus is well-equipped to help homebuyers navigate the mortgage process.
 
“We don’t stop working on a loan until we determine it can’t be done,” Culp said.
Detroit-based Quicken Loans has announced changes in its executive hierarchy
Detroit-based Quicken Loans has announced changes in its executive hierarchy.
 
CEO Bill Emerson is moving to the role of vice chairman of Rock Holdings, Quicken Loans’ parent company. He is being replaced as CEO by Jay Farner, who was previously president and chief marketing officer. Bob Walters, the company’s chief economist, will assume the roles of president and chief operating officer.
 
“For nearly all of Quicken Loans’ 31-year history, Bill, Jay and Bob have been at the forefront, driving our strategy and culture,” said Dan Gilbert, chairman and founder of Quicken Loans. “Their passion and absolute dedication to growing our team members has been instrumental in our company becoming the leader in technology, innovation and client service.”
As Angel Oak Mortgage Solutions closed 2016 with a record month, they added eight new account executives in the fourth quarter alone
Angel Oak Mortgage Solutions closed 2016 with a record month and is now licensed in over 35 states nationwide with the additions of Arkansas and New Mexico.
 
Angel Oak also added eight new account executives in the fourth quarter of 2016. Florida alone gained four new AEs as Gerry Calderon, Rick Gil, Arthur Barrera and Sergio Gutierrez all joined the company, while also adding Charles Haney in Texas, Suzi Swisher in Pennsylvania, Chris Barker in South Carolina and Carlos Yniguez in California.
Angel Oak Mortgage Solutions has doubled their sales force from this time last year, leading to a successful 2016. Their new AEs come with varied experiences–some with expertise in the old non-prime world, some with more general mortgage experience. But what they all have in common is a belief in Angel Oak’s mission to reconnect qualified homebuyers with the investor community and the passion to consistently deliver an extraordinary mortgage experience to our lender customers.
 
“I have more than 17 years of experience in non-prime lending,” said Yniguez. “I chose Angel Oak Mortgage Solutions after a lot of research and found that their customer service is a top priority. I wanted to join a company with good values and I found it at Angel Oak Mortgage Solutions.”
 
With aggressive growth plans for 2017, Angel Oak is continuing to hire AEs in markets across the country and underwriters/support staff in their Atlanta headquarters.
 
“As we look to expand across the country and build market awareness, each of these new account executives bring something different to Angel Oak,” said Tom Hutchens, SVP of sales and marketing with Angel Oak Mortgage Solutions. “We couldn’t be happier with this round of new hires being out in the marketplace representing Angel Oak.”
LRES has announced that Paul Bush has been promoted to its vice president of technology
LRES has announced that Paul Bush has been promoted to its vice president of technology. In this role, Bush will strategize the future direction of LRES’ proprietary technology, as well as implement and maintain its current systems. He is also responsible for driving growth by delivering secure applications and services and ensuring maximum uptime and scalability within the company’s networks.
 
Bush has more than 15 years of experience in management, software development and IT experience with an extensive background in .NET application development. Prior to his new position at LRES, Bush held the position of software development manager at the company. Before joining LRES, Bush served as director of engineering for an online marketing platform for the acquisition of category-specific consumers where he implemented continuous integration software development methodology and automated the build and deployment cycle using version-control APIs and other management tools.
 
“We are confident Paul is the right fit for this role as he brings with him a proven track record of implementing standardized processes and improving overall business functionality and success,” said Clyde Prestowitz, CTO of LRES.