GenWay Home Mortgage has named Phil Riccio executive vice president of capital markets, adding an executive with experience in pricing, secondary marketing, and third-party origination to support its wholesale and correspondent expansion.
The Frisco, Texas-based lender described it as part of broader investments in leadership, expertise, and infrastructure. GenWay said Riccio will focus on capital markets strategy, operational excellence, and strengthening the foundation supporting its lending platforms and industry relationships.
Riccio most recently served as executive vice president of capital markets at AmeriTrust Mortgage.
His background includes building the type of business GenWay is seeking to expand. Riccio joined Panorama Mortgage Group in February 2022 as senior vice president of capital markets and later became executive vice president of capital markets and TPO. He created a correspondent and wholesale channel producing $70 million in monthly volume before being named CFO in January 2025. His earlier experience includes roles at Stearns Lending and Caliber Home Loans.
The appointment follows GenWay’s recent investment in underwriting automation. In September, technology provider Tavant announced that GenWay had gone live with its TOUCHLESS platform across its Non-QM and government-lending businesses, with six underwriting automation products scheduled to move into production within three months.
Together, the technology investment and capital markets hire point to a broader effort to support increased production: improving how loans move through underwriting while adding experience in pricing and secondary-market execution. For broker and correspondent partners, those functions help determine both the loans a lender can offer and the terms on which it can compete.
GenWay’s wholesale business operates under the Open Mortgage Wholesale name, whose website identifies it as a DBA of GenWay Home Mortgage. Its offerings include Non-QM, down payment assistance, and government-backed lending products.
