First Guaranty Mortgage Corporation (FGMC), a Virginia corporation, announced today the appointment of Gretchen Malatesta as Chief Strategy Officer, reflecting FGMC’s deep commitment to execution on strategic objectives across business channels. Ms. Malatesta is responsible for assessing and managing FGMC’s overall corporate and geographic growth strategies.
Ms. Malatesta’s professional career includes 25+ years of financial services and management experience. She has participated in the securitization of approximately $50 billion of residential and $5 billion of commercial mortgage backed securities structured as non-agency MBS, CMBS, REMIC’s and CMO's and the offerings of in excess of $1 billion equity capital.
“I am delighted to welcome Gretchen to FGMC’s executive management team. Her knowledge of and experience in financial services and capital markets will be an asset to FGMC as we continue to develop and execute our growth strategies.” said Andrew Peters, CEO, First Guaranty Mortgage Corporation. “Gretchen will work with our senior management team to ensure FGMC’s strategic direction aligns with our vision, values, objectives, and commitment to our clients.”
Prior to joining First Guaranty Mortgage Corporation, Ms. Malatesta (formerly Verdugo) served as Executive Vice President and Chief Financial Officer of Greenlight Financial Services (acquired by Nationstar Mortgage); Chairman and Chief Financial Officer of The MAGI Companies; and Managing Director of Guggenheim Capital Markets, a division of Guggenheim Securities LLC. Ms. Malatesta was with the Impac Companies for ten years, where she served as Executive Vice President, Chief Financial Officer of Impac Mortgage Holdings Inc., its taxable REIT subsidiary Impac Funding Corporation and its divisions and subsidiaries. She previously held the positions of Executive Vice President, Chief Accounting Officer and Executive Vice President, Impac Warehouse Lending Group.
"I've joined FGMC because I fell in love with its ambition: to be the change agent of the mortgage industry. The management team combines an unswerving focus on creativity to improve the customer experience while putting business innovation and effectiveness at the core. With the necessary transition away from the GSE’s as majority investors for mortgage product, FGMC is uniquely positioned as a private conduit to capitalize on market opportunities," said Gretchen Malatesta.
Celebrating 25 years of exceptional nationwide residential lending services, First Guaranty Mortgage Corporation (FGMC), is recognized for its diligent commitment to their Wholesale, Correspondent and Retail origination channels. Together with First Guaranty’s Capital Markets and Warehouse Lending Divisions, FGMC provides a full spectrum of lending products and services throughout the 42 states and the District of Columbia, where licenses are held.
First Guaranty Mortgage Corporation is a national approved Single Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved FNMA MBS Issuer (Federal National Mortgage Association); approved by HUD (United States Department of Housing and Urban Development); an FHA approved lending institution (Federal Housing Administration); approved for VA (United States Department of Veterans Affairs); and approved by USDA (United States Department of Agriculture).
First Guaranty utilizes the highest and most current level of cloud-based development for their residential mortgage technology. This extraordinary platform facilitates a streamlined, highly functional origination process that is exceedingly reliable for its clients across all business channels. First Guaranty received Ellie Mae’s 2013 Award for Exceptional Customization of Encompass. This recognition was for their innovative and creative use of Ellie Mae technology, distinguishing First Guaranty in a highly competitive and challenging marketplace. First Guaranty has been recognized by Mortgage Technology Magazine as a “Top Tech-Savvy Lender” for three consecutive years (2011, 2012 and 2013).