At a time when many companies are exiting correspondent lending, First Guaranty Mortgage Corporation, which provides mortgage lending services, is bulking up by hiring a new regional sales manager.
FGMC hired Angelo Zakis as its new regional sales manager for the correspondent division.
In August, BOK Financial announced that it plans to shut down its correspondent lending channel, effective Dec. 31, 2016, after an evaluation of the lender’s business and current market conditions.
Of course, this announcement came shortly after BOK Financial also recently expanded by promoting a new national account manager over the credit union segment for its correspondent division.
Here’s the plot twist: it was Zakis that BOK Financial promoted just before announcing it would close down.
Now, it seems he moved on to the help the correspondent lending department at FGMC.
The move makes sense.
FGMC is a multiple-year Inc. 5000 winner. This year it ranked 3,288, and grew 101% in the past three years.
“We’re very excited to have Angelo join our national correspondent sales team,” said Mark Mayhook, senior director of TPO production. “Angelo’s deep experience in correspondent sales and solid track record in the Northeast will undoubtedly cause him to become an even greater asset to the company.”
Zakis brings nearly 20 years of industry experience of mortgage industry sales experience to FGMC. Previously, aside from his time at BOK financial which began in 2013 and ended due to the company’s exit from correspondent lending, Zakis also served in various positions at Amerisave Mortgage Corporation, Bank of America and Countrywide Home Loans.