Jeff Wilkish has been named Regional VP for New England at loanDepot, the lender announced in a press release.
In his new role, Wilkish will oversee growth and performance at branches throughout New Hampshire, Rhode Island, Massachusetts, Maine, and Vermont.
“As we considered how to fill this critical leadership position, we looked for someone who is both an exceptional developer of originator talent, and also part of the fabric of New England. A native New Englander, Jeff fits the bill all around,” said loanDepot Executive Vice President John Bianchi.
“I couldn’t be more excited about marrying Jeff’s particular strengths with those of our amazing team.”
Wilkish comes to loanDepot from Movement Mortgage, where he spent seven years as a sales…
By KIMBERLEY HAAS
The co-founder of a company that provides technology-enabled mortgage services and fintech innovation for the financial industry says artificial intelligence will be an essential tool moving forward.
Souren Sarkar, who is the president at Nexval Group in Miami, started his career in the technology space at Bayview Financial in 1996. After rising through the ranks to become the company’s chief technology officer, he pivoted and started companies that focused on mortgage outsourcing with technology, as well as labor outsourcing to India, where he was born.
Today, Nexval has several large operations in India and Sarkar says people who work in middle management there all have over 15 years of experience in U.S. mortgage banking.
Sarkar said the…
Rocket Mortgage launched a new AI-driven technology for analyzing calls.
Rocket Logic – Synopsis can listen to, transcribe, and search client calls, then analyze the sentiment, recording the patterns and preferences of the caller, according to a press release.
This innovation allows Rocket to create “bespoke experiences” for both current and potential borrowers.
“Rocket Logic unlocked the transformative power of AI to begin streamlining and modernizing the homebuying process. Now, with Rocket Logic – Synopsis, we have harnessed generative AI to create a tool that both anticipates and solves clients’ needs, effectively changing the future of homeownership,” said Varun Krishna, CEO of Rocket Companies and Rocket Mortgage.
The tool is active for calls to Rocket’s client experience teams, including loans…
Guaranteed Rate has bolstered its local and national leadership with two big changes.
The company promoted CJ Rose to EVP of Growth and Acquisitions. His new position involves recruiting talent for Guaranteed Rate around the country and managing acquisitions.
Rose has been with G-Rate since 2005, when he joined as a Senior Director of Strategic Growth and Acquisitions. In 2021, he became involved with OriginPoint, a collaboration between the company and real estate brokerage Compass.
“It is great to be part of the best leadership team in our industry,” Rose said. “With our proven track record, a fast-paced and dynamic company culture, and the most innovative mortgage products in the industry, the advantages of joining Guaranteed Rate are hard to…
Ginnie Mae’s Alanna McCargo is leaving the company and returning to private life, the Department of Housing and Urban Development announced.
McCargo, who has served a president of the Government National Mortgage Association (Ginnie Mae) since January 2022, called the move a “deeply personal decision.”
“The past 3.5 years in public service with the Biden-Harris Administration has been the most important and fulfilling work of my 25-year career in housing finance and I am deeply grateful for the opportunity to serve my country and advance a bold housing agenda across the globe as President of Ginnie Mae,” she said in a statement.
Her resignation will go into effect on May 1.
Principal Executive Vice President Sam Valverde will serve as…
By KIMBERLEY HAAS
Technology is helping servicers with programs that provide systematic and automated approaches to loan due diligence, leading to partnerships that will enhance market compliance.
Third-party subservicer Cornerstone Servicing, headquartered in Englewood, Colorado, announced last month that they are using compliance technology from Bizzy Labs to perform daily exception processing on servicing portfolios. The goal is to reduce errors, provide business risk transparency, and reduce per loan servicing costs.
Bizzy Labs is an affiliate of BSI Financial Services in Irving, Texas, and their compliance technology, Libretto, uses a comprehensive library of over 1,000 business rules to identify servicing deadlines and data quality anomalies that could lead to red flags.
Toby Wells, the president of Cornerstone Servicing, and Gagan…
Legal expert Jessie Ermel has joined Arizona-based Geneva Financial as Chief Compliance Officer.
As CCO, Ermel will spearhead quality control and compliance through the mortgage operations of the company while navigating regulation.
“I am excited to embark on this new chapter with Geneva Financial and to lead such a talented compliance group,” Erme said in a press release. “I look forward to contributing to Geneva’s continued success and upholding the highest standards of compliance excellence.”
Geneva noted that Ermel has experience creating compliance departments from the ground up, giving her the necessary know-how for her new role as CCO.
She is a licensed attorney in Colorado. Her previous experience includes serving as General Counsel for Homie and as vice president…
Click n’ Close expanded its down payment assistance loan products with a shared appreciation option.
The DPA with Shared Appreciation program gives borrowers a low interest rate for first-lien FHA and USDA loans and a repayable second lien in exchange for up to 40% of the home’s appreciation in the first five years.
After that period ends, the shared appreciation amount is added to the second lien and amortized over the remaining term.
“It’s no secret that the combination of rising interest rates, limited inventory, and growing property appreciation have made it more difficult for potential homebuyers to purchase in today’s market. While existing homeowners have benefitted tremendously from skyrocketing home equity, that same trend has put buyers at a…
Fintech Figure Technology Solutions introduced a combined lien and eNote registry service for private and wholesale lenders.
The company’s Digital Asset Registration Technologies system allows lenders to originate, pledge, and sell loans through a monitoring service that ensures the smooth progression of asset transfers. It is designed as an alternative to Mortgage Electronic Registration Systems.
The company calls it a “pivotal solution for mortgage processing” that can save lenders time and money by eliminating manual work and document processing.
“Offering DART to our partners represents a transformative opportunity in the mortgage industry, helping to usher in an era of digitization and expedited transactional processing,” said Jackie Frommer, Figure president.
“We believe that expanding the use of DART technology through our…
Rick Allen has been named Chief Operating Officer at Optimal Blue, the company announced in a press release.
In his new position, he will focus on operational oversight across the company and work to enhance efficiencies and execution.
“Our clients have long relied on our technology and data to operate profitably and efficiently, and our ability to serve them has always come from our own ability to operate with agility,” said Allen.
“It’s a privilege to step into this role and assume executive oversight of Optimal Blue’s operations so we can continue delivering the highest quality products and services to our customers and partners.”
Allen was promoted from his position as Chief Administrative Officer. He brings nearly four decades of…
