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Commonwealth USA Settlements Names Tom Frunzi as EVP of Corporate Development

NationalMortgageProfessional.com
Oct 12, 2016
Commonwealth USA Settlements LLC (CWUSA) has announced the appointment of Tom Frunzi as executive vice president of corporate development

Commonwealth USA Settlements LLC (CWUSA) has announced the appointment of Tom Frunzi as executive vice president of corporate development. CWUSA is a national title and settlement services provider which prides itself on being a “steward” of mortgage lenders’ settlement services interests. Frunzi will be charged with growing new business as well as supporting existing client relationships. He will also be responsible for introducing the company’s UNITE service to the market. UNITE is a unique partnership vehicle, was developed to assist smaller settlement services firms struggling with the cost of growing lender and investor demands, such as third-party certification services (including ALTA Best Practices or even SOC 2, Type 2 verification).

The common concern among many such firms is the possibility of losing lender business should they be unable to bear such costs and undergo certification. With UNITE, CWUSA would serve as the primary contact for lenders demanding such prerequisites before awarding business; while CWUSA’s UNITE partner or partners would continue to manage lower-risk services, CWUSA would oversee the remaining tasks. UNITE would empower those smaller firms to control their own costs and prices without having to undertake costly certification procedures, eliminating the difficult decision between bearing crippling costs or losing entire portfolios.

“Instead of facing the choice of taking on crippling expenses to prove their levels of compliance or losing significant lender business to other firms able to afford expensive vetting and certification processes; smaller agencies and settlement firms would be able to maintain much of their existing business without crushing expenses, while Commonwealth would take on the higher-risk tasks,” said Frunzi of UNITE.

Frunzi comes to CWUSA a seasoned veteran of more than 32 years in the settlement services and mortgage lending industry. He was most recently SVP of business development with PCN/Safe Escrow LLC in Pittsburgh. He has also served in the role of chief marketing officer for a national settlement services agency; executive vice president with ValuAmerica; and SVP for more than 17 years with Lender’s Service Inc. During the course of his career, he also founded and built the Phoenix Group, a successful, financial services-oriented consultancy.

“Commonwealth needed a dynamic, experienced and creative executive to promote something as unique as UNITE,” said Angela Murin, president of CWUSA. “Tom is the perfect fit. He is no stranger to bringing new and unique products to the market. He’s also exceptionally skilled at cutting through the background noise in the industry so that firms understand how a new service stands apart from the others and, more importantly, how it can help them.”

Published
Oct 12, 2016