By KIMBERLEY HAAS Leaders at Lenders One Cooperative are planning to open branch locations at select Walmart stores in seven states. The company, established in 2000, is a national alliance of independent mortgage bankers, banks, and credit unions managed by a subsidiary of Altisource Portfolio Solutions. President Justin Demola said in a recent interview with The Mortgage Note that opening branches inside Walmart stores makes sense for their members and customers who will have access to lending services in the same place they shop. “Walmart is an interesting opportunity for us and our members,” Demola said. “The timing has lined up nicely. This project started almost two years ago when the mortgage market was buzzing. Interest rates were super low…
Kristy Fercho has been named Well Fargo’s new head of Diverse Segments, Representation, and Inclusion, the bank announced in a press release. She is succeeding Kleber Santos, who is transitioning to CEO of the bank’s Consumer Lending Business. Fercho is being promoted from her position as head of Wells Fargo Home Lending. In her new position, she will integrate diversity, equity, and inclusion into the various aspects of Well Fargo’s business, and deliver marketplace and workplace outcomes. “Our work on diversity, equity, and inclusion is a long-term commitment, and we will continue to advance it under Kristy’s leadership,” said Wells Fargo CEO Charlie Scharf. “Her deep business experience, including her most recent role as head of our Home Lending business,…
By KIMBERLEY HAAS The new vice president of national sales at SingleSource Property Solutions says demanding clients are the ones who are communicating their needs and that leads to better business relationships. Jodi Bell has worked in the mortgage industry for 25 years. In September, SingleSource leaders announced that she had joined the team. SingleSource is a provider of property services supporting the U.S. housing industry. They have a broad cross-section of clients in the financial services industry including servicers, originators, banks, credit unions, investment banks, and hedge funds. “In addition to her excellent business development experience, Jodi is well connected and brings a wealth of product development experience and positive energy to our organization,” SingleSource CEO Brian Cullen said…
By JARED WHITLEY Amer Bally, the top-ranked loan officer in Michigan and a former account executive at United Wholesale Mortgage (UWM), announced his departure from Philadelphia-based UMortgage last week in a LinkedIn post citing a “need to reflect on my actions, accountability, and who I want to be.” Bally’s meteoric rise and fall – the 27-year-old’s team joined UMortgage to great fanfare only this year – might not be newsworthy but for the fact that UMortgage CEO Anthony Casa and UWM CEO Mat Ishbia are tacitly implicated on account of their close professional relationships with Bally and their own penchants for indiscretion. Details are scant, but multiple sources close to Bally and UWM report that his unplanned exit is the result of a federal…
Rocket Companies has rolled out a rewards program that allows consumers to get points towards various transactions across Rocket’s platforms, the company announced. In its first phase, consumers will be able to use Rocket Rewards on closing costs when financing a home through Rocket Mortgage. “Rocket Companies is known for delivering exceptional client service and the introduction of Rocket Rewards continues that trend – showing our appreciation for clients by offering incentives at various points throughout their financial journey,” said Jay Farner, Vice Chairman and CEO of Rocket Companies. Home shoppers need to create an account and visit the rewards page. New clients will get a 7,500-point welcome bonus, or $75, which can be used on closing costs. More points…
Lyra Waggoner has joined Movement Mortgage as its chief information officer, the company announced in a press release. “Movement Mortgage has an incredible vision and focus. I’m excited to translate this vision into transformational action across our technology platform by putting the best tools in the hands of our loan officers,” Waggoner said. “Movement and I share the belief that technology, culture and product focus should drive empowerment of our sales team. I am so grateful to join this talented group!” Waggoner brings nearly two decades of mortgage industry experience to Movement. Prior to her new position, she was EVP and head of technology for Level Capital. There, she was instrumental in creating and releasing a loan origination and servicing…
Dave Parker is taking over as LoanLogics’ CEO in the wake of Bill Neville’s departure, the company announced. This is one of several C-suite leadership changes for the loan quality tech company, which serves mortgage manufacturing and loan acquisition. Parker is being promoted from his most recent role, EVP of product. As CEO, he will push the company’s efforts on automation and new technology. His past experience includes senior leadership positions at Fiserv, CoreLogic, and Wells Fargo Home Mortgage. Neville has served as CEO since 2019. During his tenure, the company was acquired by an affiliate of Sun Capital Partners and later acquired LoanBeam. “While serving as CEO of LoanLogics has been the opportunity of a lifetime, I know I’m…
The Mortgage Calculator has entered the originations game and is now offering loans through a new entity, Mortgage Calculator Company LLC, the company announced. The company first went solo back in September, when it left its parent company and became a standalone correspondent lender with 200 loan officers. “We put in a lot of work to become a lender,” President Nicholas Hiersche said at that time. “We started as a branch at a bank, to a branch at a brokerage, to a branch at a lender. We are very excited to finally be in total control of our business.” Specializing in Non-QM products, Mortgage Calculator is offering DSCR loans, Bank Statement loans, and Fix and Flip loans. Borrowers can now…
Mike Mell has been named Senior Vice President of Freedom Mortgage’s Wholesale Division, the company announced in a press release. Mell will oversee Freedom’s national sales team, including regional sales managers and account executives throughout the U.S. “I’m thrilled to be leading Freedom Mortgage’s Wholesale Division. We’re already one of the nation’s top wholesale lenders with expertise in helping mortgage brokers close loans, especially VA and FHA products. In fact, our government lending experience is unmatched,” he said. “I look forward to expanding our wholesale business and helping our sales partners thrive by providing their clients with the financing to achieve their homeownership dreams.” Mell brings nearly three decades of mortgage industry experience to the company. He joined Freedom Mortgage…
Tennessee-based First Community Mortgage is expanding its retail business into the Midwest, the company announced in a press release. The expansion comes as FCM celebrates its 20th anniversary. New team members have largely signed on since September 1. “We are excited to add these talented professionals to the First Community Mortgage family,” Keith Canter, CEO and one of the founders of FCM, said. New hires include Bret Head, who comes from Prime Lending where he served as SVP and Regional Director of Retail Sales. He joins FCM as EVP and National Director of Sales. The majority of new team members are based out of branches in Cincinnati, Chicago, Detroit, Grand Rapids, and Indianapolis. They include Branch Managers Ryan Kiefer and…
