For the fifth time, Inc. 5000 has named New American Funding to its list of Fastest-Growing Private Companies in America, ranking the national mortgage lender 1,664th in the nation for 2017. The magazine complied the list according to revenue growth from 2013 to 2016, during which time, New American Funding’s revenue increased by 235 percent.
New American Funding was also recognized on Inc. 5000’s Honor Roll, an elite group of companies who’ve made the fastest-growing list five times. This distinct milestone is an accomplishment that less than one-tenth of Inc. 5000 honorees achieve.
“It’s extremely rewarding to have Inc. 5000 repeatedly identify New American Funding for its rapid growth,” said New American Chief Executive Officer Rick Arvielo. “We’re thrilled by this achievement and are driven to continue working hard to stretch our limits each day. Our commitment is to remain innovative.”
New American Funding is owned by husband-and-wife duo, Rick and Patty Arvielo, who’ve expanded the company to include nearly 130 nationwide branches with a servicing portfolio of $20 billion.
IndiSoft has named Camillo Melchiorre as President, where he will focus on the firm’s sales and marketing efforts. Naming Melchiorre will allow Sanjeev Dahiwadkar, who previously held both the roles of President and CEO, to concentrate on IndiSoft’s strategic direction as CEO.
Melchiorre joins IndiSoft from HLP where he was President and CEO. HLP, which is powered by IndiSoft’s RxOffice, is a non-profit collaborative that enables counselors, advocates, mortgage lenders, servicers, investors, attorneys and government agencies to build solutions that help individuals and families achieve and sustain homeownership.
Before working with HLP, Melchiorre was Senior Vice President of Loss Management at Radian Group Inc., where he led efforts to manage losses during the financial crisis with new systems, operations and loss mitigation strategy.
Prior to his Radian position, Melchiorre was Co-Founder and Executive Vice President of Business Development at MSTD Inc. MSTD developed the mortgage servicing industry's first Web-based default servicing and loss mitigation application, BackInTheBlack. He was also Vice President of Servicer Relations and Policy at Freddie Mac, where he led Freddie Mac’s landmark Servicer Advisory Board. Before joining Freddie Mac, he was Vice President of Loss Mitigation and Quality Control at Commonwealth Mortgage Assurance Corporation (CMAC, now Radian Group Inc.), where he began the company’s affordable housing pre-purchase counseling program.
“We have a long history with Cam that started years before he worked for HLP,” Dahiwadkar said. “Cam’s longevity in the mortgage industry and his knowledge will help us further position IndiSoft as a strong technology player that not only understands the industry but can also anticipate the technology needed to address any process or regulatory challenge.”
Melchiorre said, “I have a long history with Sanjeev and IndiSoft. This is an exciting time in the industry … one in which we have a chance to truly harness the power and capability of technology to make fundamental changes in efficiencies, while being agile enough to be compliant with the ever-changing regulatory climate. IndiSoft has a remarkable platform that can help achieve those goals, and I am happy to be a part of the effort to move the company forward during this time.”
Equity National Title has named David Boyum Executive Vice President, National Sales Manager where he will be charged with expanding the firm’s national sales effort, as well as servicing the firm’s existing client base.
Boyum brings 16-plus years of experience in all facets of the real estate transaction to the company, most recently having been National Commercial Operations Director with First American Title Insurance Company. Over the course of his career, he has held key roles with Stewart Title Insurance Company, Home Services of America-Berkshire Hathaway, Attorneys’ Fund LLC, and the Law Offices of Gerald Shapiro.
“The fact that I’ve worked with clients on both the residential and commercial side in a wide range of roles doesn’t change the fact that my job, first and foremost, is to help guide them to success,” said Boyum. “I’ve seen the transaction from almost every angle, which makes a difference when it comes to problem-solving and collaborating with our customers. Most of all, I’m eagerly anticipating the team focus Equity National Title employs in the support of its clients, which makes this a tremendous opportunity for me and our future.”
LenderLive Network LLC a business unit of LenderLive Holdings Inc., has announced that Sherry Valladares has joined the firm as Correspondent Lending Regional Account Manager. Valladares will cover the Northeast region and work with current and prospective clients, including mortgage banks, community banks and credit unions participating in or considering the LenderLive correspondent program. She will report directly to Bob Kallio, SVP of National Sales Manager.
Valladares brings more than 15 years of mortgage industry experience to LenderLive, with a background in secondary, operations, origination and underwriting. Most recently, she served as an Account Executive at CMG Financial and a Customer Account Manager for Fannie Mae, responsible for managing sales and strategic relationships including day-to-day business activities with banks, credit unions and mortgage banks. Previously, she held a series of regional account manager roles.
“We’re committed to helping our clients not only improve their businesses’ efficiencies, but also provide reliable customer experience that protects their relationships, making it critical for us to invest in expert talent,” said David Vida, President of LenderLive Network. “I’m confident that Sherry’s client relations skills and track record of success will translate into superior customer service and, ultimately, better results for our clients.”
Flagstar Bank has hired Kristy Fercho as President to lead the company’s mortgage business. Fercho previously served as Senior Vice President and Customer Delivery Executive for Fannie Mae.
Fercho was with Fannie Mae for 15 years, starting as Vice President of Human Resources, responsible for the company’s people strategy, talent acquisition and cultural transformation. Since 2007, she has served in various customer management roles, overseeing the mortgage production of nearly 2,000 lenders. Most recently, she was responsible for the customer delivery strategy and business performance of all customers in the western U.S., delivering single-family home loans to the agency. Her experience in the industry is broad and deep, covering mortgage originations, servicing, fulfillment, risk management and regulation.
“We couldn’t be more pleased than to have Kristy on board to lead our mortgage business,” said Alessandro DiNello, President and Chief Executive Officer of Flagstar. “She brings a wealth of industry experience from Fannie Mae, a powerhouse in the mortgage industry and a leading source of financing for home lenders. And the timing couldn’t be better with Flagstar primed to consolidate our position as the fifth largest bank originator in the country. Even better, she has worked with Flagstar since 2008 and knows our company well.”
FirstClose has announced the addition of John Park as Director of Business Development, where he will be responsible for driving adoption, client communication and product development. John began a relationship with FirstClose while he was serving as Vice President of consumer lending for Pittsburgh-based Dollar Bank. He worked with FirstClose and other vendors to help automate various aspects of lending services.
“Our relationship with John has always been positive, and we have been impressed with his extensive knowledge of the industry and the strong network of relationships he has cultivated over time,” said Tedd Smith, Co-Founder and Chief Executive Officer of FirstClose. “His expertise will enable us to continue delivering outstanding results to our financial institution partners.”
Inlanta Mortgage has announced its expansion on the branch level in Indiana, Florida, Texas, Colorado, Illinois and Wisconsin.
“We are excited to have the level of talented people that have joined us this year,” said Inlanta Mortgage Senior Vice President of Business Development Chad Gomoll. “The expansion of our company is not for the sake of just growing, but to find inspired, talented individuals that can thrive in our company culture and see the value we offer.”
Since being established in 1993, Inlanta Mortgage has grown to more than 40 branches in 20 states and over 250 employees. Inlanta Mortgage was named a Milwaukee Journal Sentinel Top Workplace in 2014, 2015 and 2016. Inlanta has been recognized as one of the country’s “Top Mortgage Employers” by National Mortgage Professional Magazine.
Visionet Systems has announced the launch of its VisiLoanReview (VLR) solution at Ally Bank. This platform will help Ally Bank drive efficiency and accuracy, shorten review time, and control operating costs, resulting in lower loan acquisition costs, a higher degree of confidence in trade data, and better decision making and execution.
The VLR platform uses a robust workflow and rules engine, and provides automated document capture and loan processing facilities for conforming and non-conforming first mortgages, closed-end seconds procured in bulk, mini-bulk and flow scenarios.
“Visionet’s VLR solution has allowed Ally to quickly and more cost-effectively evaluate, and bid on, and secure deals for Ally’s investment portfolio,” said Craig Evans, Mortgage Executive at Ally Bank. “The data collected by the solution will feed into our models and improve them over time, and VLR’s ability to ingest and process loan documents makes it easier for sellers to do business with Ally.”
VLR will assist in Ally Bank’s continued growth by: Tracking trade activity; indexing closed loan packages and data tape from sellers, keeping track of any missing documents; extracting document data using embedded OCR technology; performing document-to-data comparison and validation; transforming, staging, and packaging documents for due diligence, external partners, and downstream systems; and exchanging data in real-time for securitization, tape cracking and loan servicing.
“We are gratified that an organization such as Ally has chosen Visionet and VLR to automate its document-centric mortgage processes. This successful launch is further confirmation that we have the expertise and tools to help mortgage lenders of all sizes increase speed and reduce cost,” said Arshad Masood, CEO Visionet Systems.
Churchill Mortgage has announced the addition of 16 new employees to its branches in Arizona, Colorado, Michigan, Tennessee, Texas and Virginia.
In Brentwood, Tenn., Churchill has added eight employees, including Bethany Collins, who brings more than a decade of industry experience to her new role as Compliance and Operations Manager. Evan Lundell and Samantha Hau join the branch as a Software Developer and Project Manager, respectively, along with Sarah Ciemniecki as an Accountant; Traci Whitley as Marketing Project Manager; Matthew Buckles as a Home Loan Specialist; Leslie Head as a Loan Partner; and Hannah Tilton as a Loan Officer in training. In Colorado Springs, Colo., Lena Martinez joins Churchill as a Senior Loan Processor with 20 years of experience and Brooke Cassel as an Administrative Assistant.
Rosemary Roberts joins Churchill’s Grand Rapids, Mich. branch as a Home Loan Assistant, as well as Ed Scruggs and Wendy Shwartz as a Home Loan Specialist and an Administrative Assistant, respectively. In Phoenix, Kristine Zimny joins the lender’s team as a Home Loan Specialist and the lender’s Dallas branch welcomes 10-year industry veteran Thomas Walden as a Home Loan Specialist. The lender also welcomes Lee Elliot as a Disclosure Specialist to its Herndon, Va. branch.
“Recruiting and growing teams of industry experts is the foundation of our ability to provide borrowers with a clearly defined path to debt-free homeownership through a smarter mortgage,” said Mike Hardwick, President of Churchill Mortgage. “The addition of these dedicated mortgage professionals allows us to continue meeting the unique financial needs of all homebuyers–from Millennials to Baby Boomers and everyone in between.”
Guild Mortgage has selected Gabe Minton as its first Executive Vice President of Information Technology. Minton, who has more than 25 years’ experience in leadership roles with mortgage and technology companies, will report directly to Mary Ann McGarry, President and CEO of Guild Mortgage.
“Gabe will lead our technology information strategy, bringing a fresh perspective and broad experience to our company as we seek to reach new levels,” McGarry said. “We have many critical initiatives already underway, including our MyMortgage digital mortgage portal and new approaches to quality assurance. Gabe’s visionary leadership and expertise will help Guild reach its strategic growth goals as we use advanced technology to enhance our culture of customer service excellence that has distinguished the company for more than 50 years.”
Minton joins Guild from PHH Mortgage, where he served as Senior Vice President and Chief Information Officer from 2014-2017 with overall responsibility for the IT division. Previously, he was with ServiceLink (Black Knight Financial Services), where he served as SVP of Information Services from 2010-2014, with responsibility for driving strategy and implementation of products and services. During his rise in the mortgage technology industry, Minton served in senior management, strategy and technology positions with Motivity Solutions, Mortgage Cadence and the Mortgage Bankers Association (MBA). He was one of the leading architects and founding members of MISMO, the Mortgage Industry Standards Maintenance Organization (a subsidiary of the MBA). Early in his career he worked in various engineering capacities for the U.S. Navy.
“Guild is already a strong technology company and poised for more growth. In reviewing its history, I found ongoing innovation and sound technology investments,” said Minton. “The company developed its own proprietary, integrated technology platform over two decades ago and kept improving it to provide high levels of customer service and maximize operational efficiencies, while maintaining ownership of its core systems and data. It has strong strategic partnerships with industry-leading providers including: Roostify, Salesforce, Tavant and IBM. I am pleased to be joining Guild as it enters a new era of technology innovation with MyMortgage and other IT platforms and applications to improve the experience for every customer, employee, partner and supplier that we work with throughout the entire mortgage lending process.”