Amrock, a title insurance, property valuations and settlement services provider that is part of the Rocket Companies family, announced Wednesday that longtime CEO, Brian Hughes will be retiring later this month and Nicole Beattie, the current vice president of mortgage servicing at sister company Rocket Mortgage, will take over.
Hughes’ retirement comes after more than 21 years at Amrock, with a total of 30 years devoted to the title, appraisal, and settlement services industry. During his time at Amrock, Hughes spearheaded the firm’s effort to develop digital mortgage closings. The firm reached a milestone during the third quarter of 2021, completing its one-millionth eClosing.
“In my time at Amrock, I’ve had the honor of challenging the housing industry’s status quo and positively impacting client experience, making the home buying journey easier to navigate,” Hughes said in a statement.
According to Rocket’s quarterly earnings report, Amrock closed 261,500 closings during the third quarter.
Also in the statement, Beattie said she is excited to build on the company’s momentum and to continue to create technological solutions that improve the mortgage closing experience.
To keep up with the high demand amid the ongoing pandemic, appraisers need a remote solution that keeps them in full control.
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“I would like to congratulate Brian on Amrock’s success. His leadership has solidified the company’s position at the top of the industry and paved a clear path of innovation for years to come,” Beattie said.
Beattie has been with Rocket for 18 years; for the past four years she has led Rocket Mortgage’s servicing team. During the height of the pandemic, she worked with her team to release technology that enabled clients to apply for a forbearance plan through an online platform, reducing wait times.
“Her leadership has brought innovation to mortgage servicing that many didn’t think possible,” Hughes said of Beattie. “I look forward to seeing the strides that will be made in home valuation and mortgage closing under her direction.”
Beattie is entering into her new role at Amrock at an interesting time for the industry. The title industry as a whole is facing a talent crunch and struggling to embrace technology. Plus, appraisers are grappling with claims of racial bias, and appraisal management companies are facing challenges from lenders themselves.
Hughes will officially step-down November 19. LaQuanda Sain, who has been with Rocket Mortgage since 2013 and is currently serving as executive vice president of mortgage retention, will take over Beattie’s role as the head of the servicing team.