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MARI report: Mortgage fraud at an all-time high

National Mortgage Professional
Mar 16, 2009

Lend America hires Adeel Saeed as chief information officer MortgagePress.comLend America, FHA lender, Adeel Saeed, financial services technology, paperless, mortgage analytical tools Lend America, a leading next generation direct-to-consumer FHA lender, announced that it has hired Adeel Saeed as its new chief information officer. Mr. Saeed brings to this new position over 10 years of experience in the financial services technology industry and will be responsible for managing the technology decisions and architecture of the company with a mandate to focus on automation, simplicity and eco-responsibility. In this new role, Mr. Saeed has already built and implemented an automated paperless platform for all loan originations and processing that enhances overall efficiency, regulatory compliance and risk management, while extending the company's commitment to environmental stewardship. "Adeel's extensive experience in technology, deep understanding of the financial service industry and personal qualities made him an exceptional fit to lead our IT infrastructure and help Lend America manage it rapid growth," commented Michael Ashley. "In 2008, Lend America grew mortgage production to over $1.3 billion or about 7,000 closed loans, compared to just $764 million in 2007 or 3,461 closed loans. We are now projecting full year 2009 production to increase significantly to over $2.50 billion or 12,500 closed loans. Within this context of growth, we are focused on continuing to enhance our operational efficiency to achieve higher productivity and mitigate risk throughout the lending value chain." Mr. Adeel Saeed joins Lend America with over 10 years of experience in the financial services technology industry. Before joining Lend America, Mr. Saeed was chief information officer of Refinance.com, where he led the paperless automation initiative and development of key mortgage analytical tools. Prior to this position, he served as the director of corporate technology and infrastructure at The American Stock Exchange, responsible for managing the Exchange's key corporate technology and telecommunication infrastructure. During his career, Mr. Saeed also worked at Milleniumbcp, a major international retail and commercial bank, where he was responsible for their U.S. technology infrastructure. Mr. Saeed is a member in several associations, including IANS (Institute of Applied Network Sciences). "I am truly excited to join the talented team at Lend America, stated Mr. Saeed. "Lend America's leadership team has the vision, passion and the determination to make the company a driving force of change in the mortgage industry and the leading next generation mortgage banker. I look forward to the opportunity to contribute to the company's continued expansion and success." Lend America launched its automated paperless platform in early February 2009, and today, all of the company's loan originations from entry into the organization to closing are conducted as a paperless transaction. Utilizing key technologies, this fully integrated collaborative solution allows borrowers to e-sign disclosure documents via a secure portal and/or submits the documents required for their loan. In addition, the platform allows borrowers to communicate "real-time" with Lend America's over 300 highly trained mortgage specialists and is combined with an automated fulfillment process tracked at every step for those without online access. Using a multi-layered SSL encryption technology, consumer data is always secure and monitored 24/7. For more information, visit www.lendamerica.com.
Published
Mar 16, 2009
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