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Greenlight Financial Set to Launch Wholesale Division and Add 400 New Positions

Oct 28, 2011

Greenlight Financial Services has announced major expansion plans, including the launch of its wholesale lending division in the first quarter of 2012. Executive Vice Presidents Mary Glass-Schannault and Gretchen Verdugo are tasked with the launch of the company’s wholesale division. Glass-Schannault is nationally recognized in the mortgage banking industry with more than 33 years of leadership experience in mortgage operations and originations for national wholesale/conduit channels including REIT management and capital markets. Verdugo, a CPA, participated in public offerings of in excess of $1 billion equity capital. Her professional career includes more than 20 years of financial services experience, including REIT management and capital markets. Verdugo and Glass-Schannault have each transacted more than $50 billion of securitizations and whole loan transactions. Bela M. Donine, national sales manager, with a background in nationwide correspondent originations, will head up the production effort with established relationships with traditional broker partners for wholesale delivery. “We are implementing a sustainable growth strategy that is designed to increase the breadth and scope of our product offerings nationwide,” said Joann Pham, chief executive officer of Greenlight. “Our position gives us the unique ability to leverage current market opportunities to launch new business channels that will allow us to build upon our 10-year history of success.” The launch of the wholesale division follows Greenlight’s recent introduction of their reverse mortgage division and the expansion of their government-insured lending channel, including FHA and VA-insured mortgages. Along with broadening the scope of the business, Greenlight continues to widen their national footprint through the expansion of their state licensing. In conjunction with the channel expansions and their retail national marketing campaigns, Greenlight intends to hire an additional 400 mortgage professionals across all divisions centralized at the firm's Irvine, Calif. headquarters. The hiring effort encompasses all levels of production staff, including licensed loan agents, account executives, processors, underwriters and funders.
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Oct 28, 2011
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