Dovenmuehle Mortgage Inc., an Illinois-based mortgage subservicing company, has hired Patricia McCarthy as its new vice president of insurance administration. In this role, McCarthy will oversee Dovenmuehle’s insurance department with responsibility for hazard and flood insurance administration, loss drafts, research, and the insurance department call center.
An industry veteran, McCarthy has worked with every aspect of the mortgage process during her career. Before joining Dovenmuehle, McCarthy was vice president of mortgage warehouse lending at Hinsdale Bank for over 10 years. While there, she managed two divisions within the department, over $1 billion in warehouse lines of credit, and 25 clients, moving upwards of $40 million daily. Throughout her more than 30-year career, McCarthy has managed compliance, mortgage operations, loan processing, and customer service departments.
“Insurance is a critical component of the mortgage servicing process, requiring keen attention to detail and a firm grasp of the regulations governing it across all levels,” said Dovenmuehle Senior Vice President Glen Braun. “Patricia brings a wealth of experience in managing the complex, highly regulated financial aspects of mortgage operations, making her an idea choice to oversee these critical escrow functions.”
“As one of the longest-standing mortgage subservicers, Dovenmuehle’s reputation for stability, compliance and excellence is well known,” McCarthy said. “I welcome the opportunity to join such an outstanding organization and contribute to its on-going success and growth.”
Founded in 1844, Dovenmuehle is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors, and state housing finance agencies nationwide. The company subservices portfolio loans and loans sold to Fannie Mae, Freddie Mac, Ginnie Mae, and the Federal Home Loan Bank with servicing retained.
