*Some Lenders Are Staffing Up*
**Against The Trend**
***Unemployment rates rose in more than half of U.S. states in July and fewer states added jobs, echoing national data that show the job market may have lost some momentum. The Labor Department said that unemployment rates increased in 28 states. They were unchanged in 14 and fell in eight states — the fewest to show a decline since January. Nonetheless, some lenders are hiring. Here’s the news:
****RightStart Mortgage, a fast-growing, full-service mortgage lender featuring FHA, conforming, ARM and refinance products, has hired Patricia Cox as operations manager. A veteran mortgage executive with extensive experience in both wholesale and retail lending operations, Cox will oversee all areas of RightStart’s origination department, including underwriting, funding and supervising account managers.
****Cox has more than 15 years of national mortgage banking experience. Most recently, she served as senior vice president and operations manager for Mission Hills Mortgage Bankers/Pacific Trust Bank. There, she was responsible for overseeing underwriting and processing functions for the bank’s retail mortgage division, which funded an average of $100 million every month.
****Cox’s prior roles include vice president and operations manager for North American Savings Bank in Kansas City, Missouri, and vice president and operations manager for Eastland Financial Corporation. At Eastern Financial, she led the implementation of loan origination and document imaging systems, a loan pricing engine and an appraisal management platform.
****Also, Churchill Mortgage, a lender providing conventional, FHA, VA and USDA residential mortgages across 30 states, has hired Cara Costa as its newest vice president of Operations.
****Costa brings more than 25 years of risk management and quality assurance expertise to Churchill Mortgage. Previously with Franklin American Mortgage Company, she served as vice president and Wholesale National Underwriting manager where she directed a team of five regional managers and more than 70 underwriters and was responsible for the credit quality of all wholesale loans produced. In addition, she implemented new hire underwriting training and created red flag training that was implemented company-wide to improve efficiency and mitigate risk in wholesale operations. Costa also served as assistant vice president and Quality Assurance manager at Franklin American, responsible for quality assurance audits for correspondent, retail and wholesale channels to ensure that all loan types adhered to underwriting guidelines and compliance requirements.
****Prior to Franklin American, Costa served as wholesale lead underwriter, staff underwriter and onsite contract underwriter for SunTrust Mortgage; mortgage operations manager for Fifth Third Bank; mortgage loan underwriter for Capital City Bank; and mortgage loan administrator for First South Bank.
****Additionally, Costa has been recognized for her industry impact and contributions. She recently received the Wholesale Executive Choice Award in 2012 from Franklin American for her achievements and was also the recipient of Fifth Third Bank’s Tennessee Horizon Award in 2003 for her contributions to the Tennessee region.