Primary Residential Mortgage recently announced the retirements of two of its co-founders, CEO Dave Zitting and Chief Financial Officer Steve Chapman.

The pair co-founded the company 20 years ago, alongside Jeff Zitting. Since its inception, the Nevada-based company has since grown to 242 branch locations, employing more than 1,500 people, according to the company. 

“It’s hard to express just how I feel about this company because they’re more like a family than my business colleagues,” Chapman said. “It’s been an honor to work with such amazing individuals over the past two decades, and I have every confidence they’ll continue to flourish in the years to come.”

According to the company's press release, Chapman and Zitting will hold advisory roles on the company's board of directors through December 2020. 

“After long and thoughtful consideration, Steve and I both felt like the timing was right for us to conclude this incredible chapter of our lives, and to parlay our passion for mortgage finance into other technological solutions in support of real estate and real estate finance,” Zitting said. “Although this was a difficult decision, we know we’re leaving the company in the very capable hands of Kenneth and the rest of our incredible leadership team.”

Kenneth KnudsonThe company announced that Vice President of Finance Kenneth Knudson is expected to assume the role of CEO and president at the end of 2018.

Knudson is a mortgage industry veteran, with more than 27 years of leadership and finance experience, spending the last 19 with PRMI. In his new role as CEO and president, Knudson will be responsible for providing leadership and strategic direction in all areas of the organization, the company said.

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