Kinecta Federal Credit Union has announced the expansion of its management team for mortgage lending operations as a part of its strategy for continued growth within its mortgage division. Mike McCarthy has been promoted to first vice president, retail mortgage origination and operations. Previously director of retail loan production, he will now also direct all loan production from the El Segundo, Calif. and Chicago centers. Before joining Kinecta in 2011, McCarthy held executive management positions with Countrywide Financial, Ditech.com and GMAC.
Bruce Bingham has joined Kinecta as vice president, mortgage lending operations. He will oversee operations for both processing centers and report to McCarthy. Bingham comes to Kinecta with considerable operations management experience, having worked for Bank of America, Countrywide Home Loans, Washington Mutual, IndyMac Bank and Ohio Savings Bank.
Also joining Kinecta is Nancy Elander as director of mortgage lending operations. Reporting to Bingham, she will be responsible for operations involving wholesale loan processing. Elander comes to Kinecta from ING Direct, where she served as head of home loan operations, and previously, she worked with First Federal Bank of California.
"We are very pleased with the caliber and breadth of experience these three executives bring to the table. I look forward to their contributions as I am sure they will reinforce Kinecta's overall growth trajectory as the mortgage market continues to show signs of improvement," said Joseph Whitaker, executive vice president, chief operating officer.