New American Funding is launching a new initiative for first-time homebuyers.
Officials at the company announced the Pathway to Homeownership program on Monday.
Qualified borrowers in select areas can receive up to $8,000 in assistance to help them buy a new home.
The money distributed through Pathway to Homeownership is a grant, not a loan. Those who receive it do not need to pay it back, according to the announcement.
“One of the pillars of our company is helping members of underserved communities become homeowners,” said Patty Arvielo, Co-Founder and President of New American Funding.
“The Pathway to Homeownership initiative helps people from all walks of life who are otherwise qualified clear the initial hurdles that come with buying a…
Allen Illgen has joined Mortgage Connect LP, a national mortgage services provider, as a National Sales Executive, Originations, the company announced.
“I am thrilled to announce that I have joined the exceptionally talented team at Mortgage Connect! I want to thank all of my amazing clients and former colleagues for their support and friendship as I transition to this exciting chapter in my career,” Illgen said in a LinkedIn post.
“Mortgage Connect is known for its unwavering dedication to innovation, quality, and customer service, and I am very grateful to be part of this world-class team that always places the client first.”
Illgen brings more than two decades of mortgage industry experience to the position. He most recently served as…
Kelly McGuinness has been promoted to SVP, Regional Manager for the Northeast Region at PrimeLending, the company announced in a press release.
McGuinness will be responsible for loan origination production in the Northeast, including New York, New Jersey, Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont, and Maine.
“Truly honored, humbled, and excited for this next adventure! It is a joy working with the best in the business,” she said in a LinkedIn post about the promotion.
McGuinness brings more than three decades of mortgage industry experience to the position. Prior to PrimeLending, she owned her own mortgage company, United Mortgage Finance Group, for 26 years.
She joined PrimeLending at the Milford, Connecticut branch as a Branch Manager in 2013. Her…
Rocket Mortgage will provide its digital home loan application product through a bank’s app for the first time.
Fourth Capital, a Nashville-based community bank, will offer Rocket’s digital loan application to its customers inside their usual banking app through a new Q2 Holdings platform, the companies announced in a press release.
“Rather than trying to build a mortgage lending service ourselves from scratch, we launched the award-winning Rocket Mortgage solution through Q2’s Innovation Studio Marketplace,” said Brian Heinrichs, CEO at Fourth Capital Bank.
The bank partnered with Q2 Innovation Studio’s Marketplace Program. The program has an app store-like interface designed for banks and credit unions, which can then choose from pre-integrated third-party products.
Fourth Capital customers can apply for a…
St. Mary’s Bank has promoted both Leo D. Simard, Jr., and Pamela Didio Roy, PHR, to C-suite positions, the credit union announced in a press release.
Simard is now SVP/chief retail banking officer, while Roy has been named SVP/chief people officer.
“We offer the best-in-class financial products and services to members, give back to the community, and create a supportive work environment where our employees thrive. Leo and Pam will help ensure we continue to meet and exceed these objectives,” Ken Senus, president and CEO of St. Mary’s Bank, said.
Simard previously served as SVP/director of retail sales and member experience.
In his new position, Simard will continue to oversee retail branches and financial services. His responsibilities will expand to…
D. James “Jim” Daras has been named CEO and President of Cenlar FSB.
The mortgage loan subservicer and wholesale bank appointed Daras to the role from his position as EVP, which he has held since 2022, the bank announced in a press release.
Cenlar is the country’s second-largest mortgage servicer and largest subservicer.
“I am thrilled and honored to have been named CEO at this point in Cenlar’s journey. Cenlar was built on collaboration, expertise, client and homeowner care, and the ability to transform itself during each part of its journey, and I am confident in Cenlar’s long-term success,” Daras said.
Daras has a long history with Cenlar, starting in 1985. After rising to CFO in 1990 he left the…
Carol Burke has been appointed regional director of enterprise sales at Mobility Market Intelligence, the company announced in a press release.
MMI is a leader in data intelligence and market insight tools for the mortgage and real estate industries.
“MMI provides invaluable information, and I almost can’t believe the quality and quantity of data they aggregate and put together in a palatable and easily consumable way,” said Burke.
“This is a tool I think every mortgage company should have and I want to be part of spreading that message. I also admire the people and culture at MMI and I’m proud to be a part of it.”
Burke brings more than two decades of mortgage experience to the position in…
By KIMBERLEY HAAS
Leaders at ActiveComply say their new digital service helps companies in highly regulated industries stay compliant while employing remote workers.
Banks, mortgage lenders, credit unions, and investment banking firms have to follow strict agency guidelines, as well as state and federal laws. Remote Office Inspection allows compliance teams at those institutions to document their efforts when employees are working outside of the office.
Rob Nunziata, co-founder and CEO of ActiveComply, uses the example of FHA home loan files, which must be protected under rules established by officials at the U.S. Department of Housing and Urban Development.
Nunziata said the most important thing to regulators is that consumer data is protected.
“We had a conversation with HUD early…
Better.com is starting 2023 with a product leaders there think will revolutionize the industry: a mortgage application with a one-day turnaround.
Better announced the launch of its One Day Mortgage in a press release. The company says its customers can get pre-approved, lock in a rate, and get a Mortgage Commitment Letter completely online and within 24 hours.
“We spent the first seven years bringing the mortgage industry into the digital era, and executing over $100 billion of fully digital online mortgages. Better’s offerings serve to kickstart the slow, opaque, and costly homeownership process. With One Day Mortgage, Better is revolutionizing the mortgage industry once again by empowering its customers, making it not only cheaper, but also faster and easier…
Selma Hepp has been named chief economist at CoreLogic, the company announced in a press release.
“I am honored and thrilled to lead our team as we continue to generate industry-leading, data-driven insights and thought-provoking perspectives on all things housing. Given the challenges of today’s housing market, CoreLogic’s depth, wealth, and consistency of data position us to provide clear and actionable views of the property ecosystem, and bring value to our clients and broader markets,” Hepp said in a statement.
Hepp was named interim chief economist in July 2022 and has now cemented the title. In her role, Hepp oversees the economics team that analyzes and forecasts housing and economic trends in real estate, mortgage, and insurance.
Before her interim…
