By KIMBERLEY HAAS Three providers of customer relationship management services say that as the housing market changes and technology becomes better, focusing on the people behind the transactions pays off. Petra Cephas President Bishoi Nageh, Bonzo CEO Chad Jampedro, and Big Purple Dot CEO Roxana Davidoff recently sat down with The Mortgage Note and this is what they had to say on the topic. Leaders at Petra Cephas in New Jersey recently announced that its sales team has grown by 100 percent over the past 12 months. They attribute that growth to the boutique mortgage company’s human-based customer relationship management system and their ability to free up loan officers from non-sales related tasks so they can spend all of their time…
Last year, United Wholesale Mortgage CEO Mat Ishbia raised eyebrows when he promised generous stipends to 133 Michigan State University men’s basketball and football players. Ishbia paid each player, regardless of position, $500 per month in exchange for marketing UWM on their social media pages. NCAA athletes had long been banned from receiving such payments while playing college sports. But the conference changed its player compensation rules last year to allow student-athletes to sign endorsement deals on their own Name, Image, and Likeness (NIL). MSU players will receive a $500 monthly payment for a total of $6,000 over the year, regardless of position. While fans of MSU’s men’s sports cheered the move, Ishbia faced backlash from critics over the exclusion…
Truist Financial has named Mike Maguire its new chief financial officer starting September 15, the company announced in a press release. “Our teammates, clients, investors, and communities are excited by Truist’s purpose and potential, and I look forward to serving them as CFO,” Maguire said in a statement. In his new position, Maguire will oversee accounting, tax, treasury, financial planning and analysis, as well as investor relations, among other responsibilities. Maguire takes the position over following the service of Daryl Bible, who is retiring. Maguire is moving up from his previous position of chief consumer finance and payments officer, and will continue to report to Chairman and CEO Bill Rogers. “Mike is a strategic and purpose-driven leader with an exceptional…
Staircase launched a new application programming interface that allows lenders and servicers to embed automated underwriting technology into their applications and sync to their point of sale (POS) and loan origination systems (LOS). The interface gives lenders an option besides the technology included in most POS and LOS products. The standard fare is equipped with AUS tech provided by the GSEs, which Staircase says are “typically static and offer fixed functionalities.” Staircase offers same-day GSE integration that can be synced across multiple systems. As a result, lenders can push loan decisions further up in the origination process. “Our GSE API is a real game changer,” said Staircase Co-founder and CEO Adam Kalamchi. “By pulling AUS logic upstream as far as…
Bank of America is introducing a zero down payment, zero closing cost mortgage solution for first-time buyers geared towards underserved communities. The Community Affordable Loan Solution will roll out in designated markets, including certain Black and Hispanic/Latino neighborhoods in Charlotte, Dallas, Detroit, LA, and Miami. It is a Special Purpose Credit Program that operates off of factors like timely rent, utility bill, phone, and car payments. It does not require mortgage insurance and a minimum credit score. Eligibility is based on income and home location. Prospective buyers have to complete a homebuyer certification course from approved counseling partners prior to application. The program is in addition to BoA’s existing Community Homeownership Commitment program, which aims to help 60,000 individuals and…
Industry veteran Tim Carroll has been named new Venture President at HomeGuide Mortgage, the company announced in a press release. HomeGuide Mortgage is a joint venture between CMG Financial and RE/MAX Gold Nation. Carroll brings more than two decades of experience to the company, including roles in branch, sales, and area sales management. Most recently he served as Regional Manager in CMG Financial’s Western Division. In his new position, Carroll will be responsible for recruiting and supporting loan officers, as well as working with partners at RE/MAX Gold to ensure LOs are meeting real estate agents’ needs. “Recruiting is the single most important task for me currently,” Carroll said. “The greatest impact and influence I can have on the company…
By KIMBERLEY HAAS The new executive vice president and chief operating officer at LendArch says they can enable lenders to optimize the mortgage experience from start to finish by digitalizing the real estate financing process. Karthik Kumar has 25 years of experience in the industry. He worked for Tata Consultancy Services from 2004 to May of this year. Citigroup and Standard Chartered Bank are among his previous employers, according to a press release. Kumar shared his excitement about the new position during a recent interview with The Mortgage Note. “I am in a company that is capital adequate, that has given me all of the empowerment to create, to experiment, in a way, to transform, to disrupt, so I am…
Ian Ouwerkerk has been named Freddie Mac Multifamily’s SVP of Underwriting and Credit, the GSE announced in a press release. He has served as interim SVP since Q1 2022. Ouwerkerk joined Freddie Mac in 2008. He previously served as VP of Multifamily underwriting and senior director of underwriting for the Southeastern region. As VP of Underwriting and Credit, he focuses on ensuring the quality of Multifamily loans. He also oversees large regional pool transactions and balances credit risk management and solutions for sponsors and lenders. Prior to joining the GSE, Ouwerkerk worked as a commercial real estate broker. He has a Bachelor of Business Administration from Acadia University. “Ian is a strong leader with a proven track record implementing strategic,…
Non-QM lender Arc Home LLC has appointed Suzy Lindblom as Chief Operating Officer, the company announced in a press release. “Arc Home is well-positioned for steady growth through innovative proprietary products and technology, and I’m thrilled to have been chosen to be the Chief Operating Officer. My goal is to create a seamless customer-focused experience for our clients and homebuyers throughout the entire mortgage loan process,” Lindblom said. Lindblom is an industry veteran with a strong past history of leadership. Prior to Arc Home, she served as COO for First Guaranty Mortgage, and has held the same position at Planet Home Lending. She has also served as Managing Director of Operations at Stearns Lending. She has earned many industry awards,…
By TYRONE TOWNSEND Leaders at Rocket Mortgage have launched a new program that will cover a sizable portion of closing costs for a refinance transaction if interest rates drop and their customer refinances within three years of purchasing a home. Applicants with credit scores as low as 580 will be considered, in contrast to other mortgage lenders who need a minimum of 620. Leaders at the company say this offers a choice for potential homebuyers with bad credit. John Perich, Director of Public Relations of Rocket Central, spoke with the Mortgage Note about the Rate Drop Advantage. “People might want to buy a house, and if you want to buy a house now, go ahead and get it,” Perich said.…
