Guild CEO Mary Ann McGarry Retiring

Guild Mortgage CEO Mary Ann McGarry is retiring this June after forty years in the industry, leaders at the lender announced in a press release. McGarry joined Guild in 1984 as a supervisor in internal audit. She was promoted to SVP of loan administration and information technology soon after and joined the board of directors in 1988. She then served as CFO, chief production operations officer, and COO, before becoming president in 2005. In 2007, she became CEO and led a management buyout of the company from its founder. “On behalf of the board of directors and the entire company, we are forever grateful for Mary Ann’s extraordinary contributions to Guild,” said Patrick Duffy, chairman of the board.  “We look…

Daily AI Rebrands To Aidium Mortgage CRM

Daily AI, a customer relationship management company, is rebranding as Aidium Mortgage CRM.  Company leaders say months of research and analysis revealed the name suited the company’s vision and goals while reflecting its focus on innovation and customer service. “We’ve been in the mortgage CRM space for many years, and this rebranding effort represents a strategic move to better align all our brands under one company with our mission to help mortgage companies succeed,” said Spencer Dusebout, CEO of Aidium.  “We’ve always been dedicated to providing the best solutions and customer service in the industry, and our new brand reflects that commitment.” The rebrand includes updates to the company’s core product, website, marketing materials, and other communications. Aidium says the…

Jason Pendergist Named SVP, Chief Lending Officer At Kinecta

Kinecta Federal Credit Union announced C-suite changes, with Jason Pendergist replacing Mike Squire as SVP and chief lending officer. Pendergist will be responsible for leading Kinecta’s lending division and will report to Keith Sultemeier, President and CEO of the credit union. “We’re honored to welcome Jason Pendergist to our leadership team,” said Sultemeier. “Jason’s proven leadership in regional and community banking and his expertise in consumer and commercial lending are well suited to help us meet the needs of our members and to be their financial institution of choice.” Squire has transitioned to SVP and chief experience officer. “Mike Squire has transitioned to chief experience officer, where he can leverage over 10 years in leadership roles at Kinecta to provide…

Rodrigo Pinto Joining Real Matters As CFO, Bill Herman Stepping Down

Rodrigo Pinto has been named EVP and CFO of mortgage network management services company Real Matters, according to a press release. “We are very pleased to welcome Rodrigo to Real Matters,” said Real Matters Chief Executive Officer Brian Lang. “He is a well-rounded and deeply experienced leader with extensive financial and real estate industry experience, and I’m confident that his expertise will be an asset to the team.” Pinto will succeed William “Bill” Herman, who is leaving the company for another position. Herman will remain at the company until May 5 to support the transition. “I am proud to have been part of Real Matters, to work alongside such a talented team, and to have witnessed the company’s accomplishments since…

Guild Acquires Cherry Creek Mortgage

Cherry Creek Mortgage has been acquired by Guild Mortgage, the company announced in a press release. Cherry Creek will become its own division of Guild. Jeff May, who co-founded Cherry Creek in 1987, will lead the new division. The terms of the acquisition were not disclosed. “We continue to look for potential new partners with strong local teams, a history of growth, and community commitments,” said Mary Ann McGarry, Guild CEO. “Guild has a longstanding admiration for Cherry Creek’s approach to business and its accomplishments, and we feel confident our two companies will be able to take advantage of our synergies in each market and do even more for our customers, together.” Cherry Creek is a Colorado-based privately held lender…

Pat Bolan Joins New American Funding As CPO

Pat Bolan has joined New American Funding as its new chief production officer, the company announced in a press release. As CPO, Bolan will work to grow the lender’s retail sales, grow its sales team and synergize the retail sales division with the other departments. Bolan brings more than thirty years of leadership and origination experience to NAF. Prior to this, he worked as a divisional manager with Guaranteed Rate, where a developed a sales team from scratch.  He has also held leadership positions at Prospect Mortgage, Capital One, and American General Finance. “I’m happy to share that I’m starting a new position as Chief Production Officer at New American Funding! It was a difficult decision leaving an amazing company…

Underserved Communities: Rocket Offers Programs To Help Buyers Secure Mortgages

By KIMBERLEY HAAS Leaders at Rocket Mortgage have been rolling out programs to serve potential homebuyers in underserved communities. They announced last week that the company is the first national lender to offer Freddie Mac’s BorrowSmart Access program, which has a $3,000 credit for first-time homebuyers to use toward their down payment. To qualify for this program, the buyer must have an income equal to or less than 140% of the area median income and meet all other Freddie Mac lending guidelines. The purchase must take place in an eligible county within one of 10 metropolitan areas. The cities include Detroit, where Rocket is headquartered, Atlanta, Chicago, El Paso, Houston, McAllen, Memphis, Miami, Philadelphia, and St. Louis. In December, Purchase…

Impac Goes Broker, Winds Down TPO

Impac Mortgage is switching to a broker system, winding down its TPO business, and excusing itself from working with the GSEs. The company announced major changes in a business update this week. The company repositioned its retail consumer direct lending division into a mortgage broker fulfillment model. “The shift to a broker model allows the company to originate a variety of products that serve its national consumer base at a reduced cost per loan due to significant expense abatement relative to specialized staffing, operations, technology, and business promotion,” the update reads. Impac will expand its suite of loan products and programs that the broker channel will support. It expects non-QM originations to be the “dominant” product within the broker channel.…

Competitive Home Lending Offering Wholesale Rates To Veterans

Veterans in Texas are being offered extended homebuying benefits from Competitive Home Lending, the company announced. Buyers applying for a VA loan through CHL can qualify for a wholesale VA mortgage rate. Wholesale rates are typically between 25 and 50 basis points lower than retail rates. This gives veterans the opportunity to buy a more expensive home without increasing their purchase price. CHL has lowered its credit score requirements for veterans to as low as 500, offering 100% financing. “Competitive Home Lending recognizes the sacrifice and service of our Veterans and wants to do everything possible to make homeownership more accessible for them,” said Raul Hernandez, Mortgage Broker of Competitive Home Lending. CHL is also offering VA one-time close construction…

Growing Enterprises: Presale Home Renovation Company Revive Continues National Expansion

By KIMBERLEY HAAS As sellers become savvier about return on investment opportunities before putting their house on the market, the presale home renovation company Revive is expanding nationally. Leaders at the California-based business announced on Tuesday that they have partnered with NextHome, a real estate franchise with more than 5,500 agents in 610 offices across 48 states. “Presale renovations offer homeowners a $300 billion additional profit opportunity,” Dalip Jaggi, Revive co-founder, said in a statement. Sellers can leave between 15% and 20% of potential profits on the table when selling a home as-is and, on average, earn $186,000 more than the cost of their renovations, Jaggi noted. Tuesday’s announcement comes less than a month after it became public that Revive…