First Guaranty Mortgage Corporation (FGMC) has named Jeffrey Gibson to the position of managing director, TPO Flow, which will encompass both the wholesale and correspondent flow lending divisions of the company. FGMC is a national, full-service mortgage lending firm offering retail and wholesale mortgage solutions to clients of varying income and credit types. Gibson will oversee wholesale and correspondent flow lending activities for the national lending company. He was previously AVP, correspondent division manager.
“FGMC has grown into one of the nation’s premier correspondent flow buyers under Jeff’s leadership in the past 18 months,” said Peters. “Jeff has been a big part of our growth, and will be an important driver as we look to capture more ‘traditional’ origination business.”
In the recent past, FGMC had earned a reputation as a boutique wholesale lender, nationally offering niche products such as renovation loans for FHA and FNMA; manufactured home loans for FHA and VA, and more. This appointment signals the firm’s intention to put a greater focus on all loan products, both vanilla and niche, according to CEO Andrew Peters.
“Our goal is to offer our broker partners more ways of serving their clients, including table funding and correspondent flow,” said Gibson. “While there is a still a strong demand for niche products, which we will continue to meet, there is also a renewal in demand for basic, vanilla products. We will be dramatically expanding our involvement in those markets as well.”