| A national lender that saw business increase by more than two-thirds last year promoted two executives to president of their respective departments.
The announcement was made today by Fairway Independent Mortgage Corp. The Sun Prairie, Wis.-based mortgage banker said Paul Walnick was promoted to president of mortgage operations from senior vice president of technology. In his new role, Walnick will oversee day-to-day mortgage business and underwriting operations. In addition, he’ll provide branch and product support. Walnick’s 20 years’ experience includes stints at Waterfield Financial Corp. and American Home Mortgage.
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Fairway photo of Paul Walnick
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Fairway photo of Dan Cutaia
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The 14-year-old firm also promoted Chief Operating Officer Dan Cutaia to president of capital markets and risk management.
Cutaia will be in charge of all technical and compliance related issues, systems, and secondary business. He’ll also “oversee the overhaul” of the company’s origination platform. Waterfield was also a prior employer of Cutaia, who founded Aucita Mortgage Capital. Fairway, which has 900 employees and more than 80 locations, reported a record $3.3 billion in production last year, soaring from $1.97 billion during 2008. “The promotions of both mortgage veterans are intended to position the company for further growth,” today’s statement said.
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