Prior to joining Carrington, Grosteffon was vice president and sales manager for JPMorgan Chase, where he focused on the growth of the JPMorgan private client brand in the Westchester, New York market.
"The wholesale channel has been a relatively small part of the Company's originations business with funded volumes of less than $1 billion in the nine months through September 30, 2013," the company said in a statement.
Stonegate Mortgage Corporation is expanding its geographical footprint by acquiring the wholesale lending channel and certain distributed retail assets from Nationstar Mortgage Holdings, adding more than 200 employees.
Change is inevitable, and the wholesale lending space is definitely seeing a lot of it lately. But with bigger players like SunTrust moving out of broker lending, smaller players in the space are eager to find their footing.
Rey Maninang joins the wholesale lending division of Carrington Mortgage Services as senior vice president and national sales director for the company’s wholesale channel to oversee the sales team and increase market share.
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More