The Carrington Companies’ founder and longtime CEO Bruce Rose is transitioning out of that role, to be succeeded by company veteran Andrew Taffet.
Taffet, currently the company’s Chief Investment Officer, will remain in that position and take on the duties of CEO. Rose will assume the position of Chairman of the Executive Committee.
“This is not a dramatic handoff by any means, but rather a natural next step for our business,” Rose said in a press release.
“In addition to his duties as Chief Investment Officer, Andrew has been handling the day-to-day operations and oversight of our company for some time. The Carrington Companies will continue to operate as they have for the past 20-plus years. Our effectively self-hedged business…
Doug Timmerman was named interim CEO of Ally Financial following the departure of Jeffrey J. Brown, the company announced in a press release.
Brown announced he would step down in October after fourteen years with the company, nine as CEO. He set his final day as January 31, or an earlier date as determined by the Chair of the Board.
Brown steered Ally toward mortgages and auto loans during his tenure, after the company rebranded from GMAC as part of General Motors.
As part of that mortgage push, Ally’s home lending arm partnered with HouseCanary to incorporate its portal ComeHome into its website.
“What began in 2009 as the financial reengineering of a company ultimately became a bank that truly…
Arrive Home has promoted two c-suite executives, the company announced in a press release.
Matt Pettit, co-founder and president, has been promoted to CEO, while Tai Christensen, co-founder and chief diversity and public relations officer, will replace him as president.
Arrive Home is a national affordable housing program that provides down payment assistance offerings and alternative credit solutions to underserved and minority communities.
Arrive says the change reflects the company’s growth since debuting in November 2022.
“We are thrilled with the progress we’ve made since launching last year, and are excited to introduce other credit solutions to the market in the coming months,” said Pettit.
Arrive offers a suite of products geared towards helping new borrowers buy a home, especially…
By KIMBERLEY HAAS
The woman who led Guild Mortgage as it grew into a national company with operations in 49 states says the key to success is to have confidence and ask questions.
Mary Ann McGarry retired as the CEO of Guild at the end of June after nearly 39 years with the company.
“I would just remind everyone to have confidence in what they can do and their abilities. They don’t have to know everything 100%, especially in this business, and it changes every day, so you have to be able to learn,” McGarry said in a recent interview with The Mortgage Note. “Learn everything and then you’ll earn it. Just keep voicing ideas and asking questions. Don’t be…
Fintech exec Varun Krishna has been named CEO of Rocket Companies, the parent company of Rocket Mortgage.
“I am honored to join the Rocket Companies team,” Krishna said in a statement. “Rocket has a rock-solid foundation and tremendous potential, with its comprehensive ecosystem and industry-renowned technology, strong brand, and award-winning client service. I look forward to working with Bill, the Board, and Rocket’s exceptionally talented team members to drive the company’s future success and create long-term value for our stakeholders.”
Krishna succeeds Bill Emerson, who has served as interim CEO since June when Jay Farner retired. Emerson will remain on the Board and work with Krishna throughout the transition.
Krishna officially takes over on September 5.
Krishna brings over two…
Simon Chen has been named the new president and CEO of equity-minded buy-first lender Arrival Home Loans.
“So thrilled to be joining such a great group of people at Arrival Home Loans and Pacific Private Money Inc. to make private money real estate borrowing and investments available to ALL!” he wrote in a LinkedIn Post.
Chen brings more than two decades of experience in real estate, operations, and venture capital to the position. Before AHL he served as a Managing Partner at August Gill, an advisory firm for startups and capital providers. He will stay on there as an advisor.
His other experience includes EVP of Product and Innovation at Anywhere Real Estate, and president and CEO of one of…
By KIMBERLEY HAAS
After a 27-year career, Rocket Companies CEO Jay Farner is retiring this week and he will be remembered as a keen businessman who helped make mortgages more accessible to average Americans as technology pushed transactions out of traditional offices and onto mobile devices.
Leaders at the company announced Farner’s retirement on February 13, saying that he had stepped down from his position on the Rocket Board of Directors and would begin transitioning his roles and responsibilities as CEO to longtime Rocket executive Bill Emerson. Emerson will assume the role of chief executive officer on an interim basis on June 1, according to the press release.
Farner, who is 50 years old, said in a statement that he…
Long-time Rocket CEO Jay Farner is retiring after 27 years and he says the move will give him more time to focus on his family.
Farner will officially retire effective June 1, 2023, according to a press release. He is also giving up his position on Rocket’s board of directors, effective immediately.
“Being part of this amazing organization has been one of the most rewarding experiences of my life. More than 27 years ago, fresh out of college, I decided to join a small mortgage company led by Dan Gilbert. I could never have predicted the amazing journey that one decision would have taken me on,” Farner said.
Farner joined Rock Financial– the company that would later become Rocket Mortgage…
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…
Priscilla Almodovar has been named Fannie Mae’s CEO and member of the Board of Directors, the GSE announced in a press release. Almodovar will succeed former interim CEO David C. Benson, who will remain in the role of President. “It’s an honor to join Fannie Mae and lead the company as it carries out its vital role in the housing finance market and works to help ensure that equitable, affordable housing is available to people in communities across the country,” Almodovar said. “I look forward to working with the Board, Management, and my new colleagues at Fannie Mae to continue this important work, which has benefited so many people over the company’s more than 80-year history.” She offers three decades…
