Not Everyone Is Retrenching These Days

*Not Everyone Is Retrenching*
**By Tony Garritano**

TonyG***We hear so much these days about people/companies pulling back. As interest rates go up volume will go down. We know this, we’ve been through it before and there are signs that it’s already starting to happen. I maintain though, that now is the time to opportunistically expand. For example, Equity Loans, a residential mortgage lender whose operations extend to more than 30 states, has expanded into the wholesale market and to support its growth, Equity Loans appointed Kingsley Kodan as its senior vice president of Sales. Here’s why:

****Equity Loans has entered the wholesale market to build its servicing portfolio and further enhance the lender’s diverse product offering. With wholesale licensing in more than 25 states, entry into the wholesale market enables the lender to leverage alternate channels and build a stronger foundation for future operations. Additionally, Equity Loans will establish a dedicated wholesale team to eliminate internal bandwidth issues and maintain its commitment to providing excellent customer service and quick closing times.

****Kodan will support the lender’s growth as its new senior vice president of Sales. During his 18 years in the mortgage industry, Kodan has proven success in driving multi-million dollar revenue growth and significantly improving sales team performance. Prior to joining Equity Loans, Kodan was the director of branch development for National Fidelity Mortgage (NFM), Inc. Kodan also previously held business development and sales positions with Franklin American Mortgage Company, First Residential Mortgage Services Corp. and Carteret Mortgage Corp.

****“Since no situation is the same, Equity Loans is committed to expanding into other channels to enable our branch managers to offer borrowers an abundance of flexible options, as well as open up new market opportunities for the future,” said Kunjan “KP” Patel, CEO of Equity Loans. “Kingsley is instrumental in supporting our wholesale operations and we are confident his knowledge and expertise will be an excellent addition to Equity Loans.”

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.