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New Executives at Variety of Mortgage Firms

Recent mortgage executive activity

Feb. 20, 2015

By AIMEE L. BROWN Mortgage Daily



In addition to several mortgage bankers, a reverse mortgage lender and commercial mortgage lender have made executive appointments. Meanwhile, a former bank teller has worked his way up to serve as his company's chief executive officer.

In a Feb. 4 media release, One Reverse Mortgage LLC, a Quicken Loans Inc. company, welcomed Derek Marks as its director of capital markets.

Besides product development, hedging and trading, Marks also will oversee risk assessment initiatives for the reverse mortgage lender.

In the past, Marks worked as the vice president of trading and securitizations for Security 1 Lending. He also held executive positions at Bank of America Corp. and the now defunct MetLife Home Loans LLC.

"I know that Derek will fit with our culture and be a driving force for the company," One Reverse President and Chief Operating Officer Gregg Smith said in the statement.

A week later, news emerged that the former COO for Residential Mortgage Services Inc., Erin Cornwell, joined Mortgage Network Inc. as the director of strategic implementation and process improvement. According to the company's press statement, Cornwell’s 20-years in the mortgage industry gives her considerable experience as an operations leader.

"We will rely heavily on Erin's leadership skills to improve the efficiency of our operations while supporting our mission to become the preeminent mortgage lender in every market we serve," Mortgage Network President Robert McInnes said.

A Feb. 9 news brief revealed Steven Plaisance was promoted to CEO of Arvest Mortgage Co. and subsidiary Central Mortgage Co. Prior to this promotion, Plaisance served as the COO for both companies.

Originally, Arvest Bank hired Plaisance in 1989 as a part-time bank teller, and he moved to Arvest Mortgage in 1991.

That same day, San Diego-based Guild Mortgage Co. said it hired 40-year mortgage industry veteran Michael Fosdick as its midwest regional manager. Before signing on with Guild, Fosdick was CEO and president at Security Federal Savings Bank.

Elsewhere, full-service mortgage banker Envoy Mortgage recently created two regional vice president roles and filled both positions with new hires earlier this month. Kenneth Panosian will head up the Great Lakes region, and Andrew Pettola will run the Northeast Region.

Prior to signing on with Envoy, Panosian was the vice president of sales and business development for the Ross Mortgage Corp., and Pettola was the executive vice president of wholesale lending for Total Mortgage Services LLC.

End capping recent mortgage executive activity are two director-level appointments by companies in the Northeast.

On Feb. 17, Greystone & Co. Inc., a healthcare and multifamily loan provider, touted Ted Nasca as the managing director of the commercial mortgage backed securities division. Previously, Guggenheim Commercial Real Estate LLC, a company owner by Guggenheim Partners LCC, employed Nasca.

As well, 1st Alliance Lending LLC issued a Feb. 2 statement that said Rick Cardillo would head the company's new national, multi-channel lending division as the national director of business development. Before joining 1st Alliance, Cardillo was the executive vice president of broker operations for Nationstar Mortgage LLC.

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