LenderLive Network Inc. has announced that Stephen J. Kolimaga has joined the firm as vice president of national sales for the company’s outsource services division. He will be responsible for developing new private-label fulfillment relationships with financial institutions, banks and credit unions.
Kolimaga brings nearly 20 years of mortgage industry experience to LenderLive, much of it focused on private-label operations.
Most recently, he was senior vice president of Private Label and affinity relocation sales at Green Tree Servicing. Prior to Green Tree, Kolimaga was with PHH Corporation where he served as vice president of private label sales.
“The Mortgage Bankers Association’s (MBA) most recent figures on per loan profitability were eye-opening for many banks and credit unions,” said Rick Seehausen, chief executive officer of LenderLive. “Thanks to higher compliance costs, increased investor scrutiny and a smaller, more time-intensive purchase market, the average return on a mortgage is less than $150. Small and mid-sized institutions are looking for ways to continue to offer both first and second-lien mortgage products, but to do it in a safer, variable cost fashion. Steve’s deep understanding of the private-label process and his consultative sales approach will help LenderLive further expand in our key markets.”