Mortgage Daily Logo

Hirings as Wholesale Lender Launches

Mortgage News

A residential lender in Orange County is hiring hundreds of people and opening a wholesale lending division. The expansion follows moves to enhance its retail channel.

The wholesale launch is planned for the first quarter of 2012, Greenlight Financial Services announced Tuesday.

The launch follows an expansion of government lending programs at the decade-old company.

Greenlight is recruiting 400 people to support its retail and wholesale growth.

The open positions include licensed loan agents and account executives. Also being recruited are processors, underwriters and funders.

A job fair is being held at the Irvine Marriott on Nov. 5. The job fair starts at 9 a.m. and concludes at 3 p.m.

Greenlight might find some prospects from Bank of America Home Loans, which is laying off mortgage employees in Thousand Oaks and Westlake Village as it winds down its correspondent business. While many of the 1,200 total impacted BofA employees are concentrated in the two Southern California locations, employees in Florida and Texas are also affected.

Heading the wholesale launch are Greenlight executive vice presidents Mary Glass-Schannault and Gretchen Verdugo.

“Verdugo and Glass-Schannault have each transacted more than $50 billion of securitizations and whole loan transactions,” the Irvine, Calif., company said.

Overseeing the production effort is Greenlight National Sales Manager Bela M. Donine. She has established relationships with traditional mortgage brokers, and her background in national correspondent originations includes time at non-prime lenders Ford Consumer Finance and Impac Funding Corp.

A reverse mortgage division was recently introduced by Greenlight. In addition, the channel that handles loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs was expanded.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam