Sierra Pacific Mortgage has been serving the lending needs of homebuilders for more than 30 years, but the company is planning to significantly expand its homebuilder lending operation.
The company announced this week that it is launching a homebuilder lending division.
Previously, Sierra Pacific had retail, wholesale and correspondent lending channels, and lent to homebuilders, but now, it’s launching a new lending channel specifically for builders.
According to the company, the launch of this builder division allows Sierra Pacific to “accelerate growth on a national level by providing builder focused mortgage solutions to the home building community.”
To lead the builder division, Sierra Pacific Mortgage hired two industry veterans to support the new home construction teams: Diane Cimarusti-Galigher and Christopher MacNaughton.
Cimarusti-Galigher brings more than 30 years of experience to Sierra Pacific Mortgage. Most recently, she served as the senior vice president at BD Holdings. Prior to that, she was the senior vice president – national builder division at Guaranteed Rate and regional manager at DHI Mortgage.
At Sierra Pacific, Cimarusti-Galigher will serve as regional builder manager and will oversee builder accounts and in Southern California.
MacNaughton comes to the company with nearly 20 years of mortgage lending experience. Prior to Sierra Pacific Mortgage, he was the regional builder and business development manager at New American Funding.
MacNaughton will also be serving as regional builder manager. In this role, he will oversee builder accounts in Northern California.
The company also added Mike Seeley as a builder branch manager. Seeley was formally the west coast builder manager for Guaranteed Rate, and regional manager for DHI. Seeley is currently working with several builders and generating partnerships.
Additionally, the company added Chip Brown as a business development manager focused on the east coast.
Brown brings 25 years of experience to Sierra Pacific, and previously served as president of Raleigh Mortgage Bankers Association.
“By having a dedicated builder team, and combining innovative technology, a robust product suite, and builder specific fulfillment processes, we will be able to serve the needs of our homebuyers and homebuilders for years to come,” Jay Promisco, senior vice president of retail production. “Our process is not just different, it’s better.”