CV3 Financial Services, a private lender providing financing for fix-and-flip and rental properties in more than 20 states, was recently launched and CEO William Tessar says they aim to be leaders in the business purpose loan industry.
Tessar, who is the former president of Civic Financial Services, has a team behind him that originated and funded more than $10 billion in private money loans over the last five years. That includes 150 originators, operations, and business support staff, according to a press release.
CV3 Financial Services is based in Los Angeles County. Using a digital lending platform, all processing, underwriting, and funding is completed under one roof.
Tessar recently sat down with Editor Kimberley Haas to talk about his career,…
Dan Hanson has been named executive director of enterprise partnerships and acquisitions at loanDepot, the lender announced in a press release.
In this newly created position, Hanson will spearhead new revenue opportunities, such as national referral relationships and acquisitions, as well as collaborate with senior leadership to boost profitability.
He will also work to expand loanDepot’s existing programs and partnerships, such as its employer benefits program and Lender Express offering, which provides mortgage products to credit unions and other financial institutions hoping to fill out their offerings.
“Through the execution of our Vision 2025 plan, we’ve done the hard work to ensure we can continue to address the impacts of the current market downturn and still invest in our platform,”…
Leaders at Guaranteed Rate have announced their latest speed-centric mortgage product, the 5 Minute Approval.
Borrowers can sign their initial application package and upload documents at Rate.com. Then, once the approval comes through (in five minutes or less), they can continue their homebuying journey and close on a property in as few as 10 days. 5 Minute Approval is available for purchase and refi transactions with at least 3% down.
Guaranteed Rate President and CEO Victor Ciardelli said the company has already approved more than 100 loans within five minutes through its completely automated process.
“And we’re now the only lender in the entire country setting this new standard,” Ciardelli added.
“Consumers deserve lightning-speed service powered by modern technology platforms.…
Industry veteran Nino Saso has been named Chief Production Officer of US Mortgage Corporation, the company announced in a press release.
In his new role, Saso will oversee sales, expansion initiatives, innovation, and boosting market presence across the country.
“I am honored to join US Mortgage Corporation at this exciting juncture,” Saso said. “The mortgage industry is rapidly evolving, and I look forward to partnering with the talented team here to capitalize on new opportunities, enhance customer experiences, and drive sustainable growth.”
He brings more than three decades of mortgage industry experience to the position. Prior to US Mortgage, Saso served as SVP Divisional Sales Manager at Nations Lending.
Saso has also held leadership roles at Mutual of Omaha Mortgage,…
Cash offer fintech Flyhomes announced it is acquiring “buy before you sell” leader Home Sale Assured.
Home Sale Assured, a platform owned by Innovative Holdings, LLC, is known for its Guaranteed Backup Contract, which allows homeowners to confidently purchase their next house before selling their own.
Flyhomes will acquire the Home Sale Assured brand, and founder Eric Meadow will join the company as a senior executive.
“Eric is a seasoned mortgage professional who has built something really special with the Guaranteed Backup Contract,” Tushar Garg, co-founder and CEO at Flyhomes, said. “Its ability to remove friction from the buying and selling process, while adding assurance, flexibility, and customer-centricity, aligns perfectly with our core tenants here at Flyhomes. This deal strengthens…
By KIMBERLEY HAAS
A case study by FormFree highlights how one of the nation’s largest independent mortgage lenders is serving the credit invisible.
Leaders at FormFree estimate that millions of adults in the United States are credit invisible or credit unscorable. That makes it difficult for these potential homeowners to qualify for a mortgage.
Manual processes exist to underwrite mortgages for these borrowers but they are seldom used because people without a credit score often assume they cannot qualify for a home loan and industry professionals may be unaware of their options, according to the case study.
To provide loans for qualified credit invisible customers, San Diego-based Guild Mortgage Company introduced a Complete Rate program in July of 2022 that…
Dave Stein has been named Southeast Divisional Manager of Crown Home Mortgage, the company announced in a press release.
From his home base in Mount Pleasant, South Carolina, Stein will oversee the growth and overall operations of Crown Home in the Southeastern region.
“I am honored to be part of such a reputable organization committed to delivering exceptional mortgage services,” Stein said. “With a branch located in Mount Pleasant, I look forward to serving the local community and working closely with the team to provide the best mortgage solutions.”
Stein brings a wealth of financial industry leadership experience to the position. Prior to Crown Home, he served as EVP of Family First Funding LLC. His other experience includes Chief Operating…
Arizona-based Integro Bank launched a new mortgage lending division geared towards small business owners purchasing homes.
Steven Zielsdorf, director of residential mortgage lending, will lead the team. Prior to Integro, he served as a managing member of iLending Mortgage LLC.
“Integro Bank is here to make the home buying process easier and less stressful. We offer a wide variety of loan programs to meet your mortgage financing needs whether you are a traditional residential home buyer or a small business owner with challenges validating income to meet the financial requirements,” Zielsdorf said.
“Our team will work with you to determine the best option for your personal situation while also having the experience to provide creative solutions for small business owners…
Mortgage securitization administrator Common Securitization Solutions has named Farhad Fariba EVP and Chief Technology Officer, the company announced in a press release.
In his new role, Fariba will spearhead efforts to develop CSS’s technology strategy, as well as oversee infrastructure, software development, cybersecurity, and emerging tech. He will report directly to CEO Tony Renzi.
“CSS is thrilled to welcome Farhad to our executive management team,” said Renzi. “Farhad brings a wealth of experience and expertise in the technology industry and has an outstanding track record of driving innovation, developing scalable business solutions enabled by technology, and most importantly leading high-performing teams.”
Prior to joining CSS, Fariba served as SVP, IT Platforms and Services with Travel & Leisure Co. His background…
Rocket Companies has been recognized by PEOPLE in its 100 Companies That Care rankings for its contributions to Detroit homeowners.
For the past seven years, PEOPLE has partnered with Great Place To Work to honor companies that go above and beyond to positively impact their communities.
This year, Rocket Companies earned second place for its efforts to support residents of Detroit.
PEOPLE said its decision was based on the Detroit Home Repair Fund, part of the Gilbert Family Foundation. The fund facilitates critical home repairs for low-income Detroit homeowners – where Rocket is headquartered – through its nonprofit partners.
Nonprofit partners inspect the home and obtain the funding, as well as oversee contractors and post-inspections while monitoring compliance.
“Stable housing…
