Flagstar Bank has a new head of its mortgage business.
Flagstar announced earlier this week that it added Kristy Fercho, who was previously a senior vice president and customer delivery executive at Fannie Mae, to serve as the company’s president of mortgage.
Fercho joins Flagstar after spending 15 years at Fannie Mae, where she began as vice president of human resources. In this role, Ferchow was responsible for the company’s people strategy, talent acquisition, and cultural transformation.
Since 2007, Fercho served in various customer management roles, including overseeing the mortgage production of approximately 2,000 lenders.
Most recently, Fercho was responsible for the customer delivery strategy and business performance of all customers in the western U.S.
In a release, Flagstar states that Fercho’s experience in the industry is “broad and deep, covering mortgage originations, servicing, fulfillment, risk management, and regulation.”
Alessandro DiNello, Flagstar’s president and chief executive officer, said that the company “couldn’t be more pleased” to add Fercho.
“She brings a wealth of industry experience from Fannie Mae, a powerhouse in the mortgage industry and a leading source of financing for home lenders,” DiNello said. “And the timing couldn’t be better with Flagstar primed to consolidate our position as the fifth largest bank originator in the country. Even better, she has worked with Flagstar since 2008 and knows our company well.”