Preparing for its aggressive expansion in 2011, Foundation Financial Group has promoted a new chief executive officer from within the mortgage lender's organization. Founding Partner and former Chief Executive Officer Paul V. Scott will take over as chairman of the board for Foundation Financial Group, while current Executive Vice President Mark W. Boyer assumes his new role as the company's chief executive officer. Scott, along with Kris Williams, founded Foundation Financial Group and shaped it into one of the fastest-growing mortgage lenders in the U.S.
Instrumental in furthering Foundation Financial Group's success, Boyer joined the company six years ago and created the mortgage lender's current business production model. As executive vice president, Boyer oversaw a range of business transactions and helped keep Foundation Financial Group's portfolio performance in the top five percentile for all private investors. A delegated affiliate of the Federal Housing Administration (FHA), Boyer often acted as spokesman for all mortgage centers run by Foundation Financial Group, which is licensed in more than 30 states.
"I will be taking on a more strategic role as chairman in 2011," said Scott. "Mark is one of the smartest executives I've ever worked with. He is very prepared for this role and has technically operated in such capacity for several months as he helped grow our mortgage business."
"I appreciate the opportunity that Paul, the board and Foundation Financial Group has given to me," Boyer said. "I'm ready for the new responsibilities and I look forward to launching our new affiliate financial products and companies, while we continue to grow Foundation Financial Group, the best mortgage company in America."
Foundation Financial Group has grown its originations by 14 percent in 2010 above 2009's record sales, while, according to MortgageStats.com, a mortgage industry-tracking source, the top 10 U.S. mortgage lenders are down a collective 26 percent in originations for the same period.
"I give our human resources and training department all of the credit for our record growth," Boyer said. "Foundation Financial Group continues to hire and train the right people for the right positions."
Raised in the rural town of Arendtsville, Pa., Boyer learned the value of hard work through the ethic shown by his father, who worked at a local factory. After graduating from The Smeal College of Business at The Pennsylvania State University with a degree in marketing, Boyer worked his way down South, landing at Foundation Financial Group in November 2004 as regional operations director in Atlanta, Ga. He became the executive vice president of operations in January 2009. Married and with a two-year-old daughter, in his free time, Boyer enjoys fly-fishing, being outdoors, the college football season and rooting for the Nittany Lions. Still a Lion at heart, Mark is working to establish a recruiting network for Foundation Financial Group from Pennsylvania State University, which boasts the largest alumni association in the world.
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