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.”

Lender Expands Its Geographic Footprint

*Lender Expands Its Footprint*
**Adds New Offices**

footprint***Equity Loans, a residential mortgage lender whose operations extend to more than 30 states, opened four new office locations in four different states in the first quarter of this year, with offices now located in Wenatchee, Wash; Mount Pleasant, S.C.; Chantilly, Va.; and Southbury, Conn. This is the first time Equity Loans has entered the Washington and Connecticut markets. Here’s why:

****Equity Loans’ newest Branch Manager Scott Campbell will lead efforts at the Wenatchee, Wash., office. Campbell has worked in the lending industry for more than 36 years, holding positions with several companies including Hometown Lending; Pinnacle Capital; and Sound Mortgage.

****Oliver Caminos will serve as branch manager of the Mount Pleasant, S.C. office. Caminos has more than 20 years of experience in residential mortgage lending and prior to joining Equity Loans, he was branch manager for Stearns Lending.

****Branch Manager Dean Boeving will support efforts at the Chantilly, Va., office. Boeving has 18 years of industry experience, previously holding positions such as branch manager for Allied Mortgage Group; branch manager for Vantage Point Bank; and sales manager and loan officer for First Choice Bank.

****The Southbury, Conn. branch will be led by Branch Manager Sean Rogerson, bringing more than 15 years of experience to the Equity Loans team. Previously, Rogerson served as branch manager for Starboard Financial, and was also previously owner and executive vice president of Northeast Mortgage Corporation.

****“As we continue to expand our operations nationwide, opening offices in the Washington and Connecticut markets is an incredible achievement for Equity Loans and we’re looking forward to serving these new areas,” said Kunjan “KP” Patel, CEO of Equity Loans. “We’re confident these branch managers will provide the best support to serve all four of our new office locations.”

Lender Expands Its Offering

*Lender Extends Its Offering*
**Gets Fannie Approvals**

expand***Equity Loans LLC has received approval as a seller/servicer of one-to-four family first lien mortgages to Fannie Mae for whole loan execution, further enhancing the lender’s product offering and benefits for borrowers. In securing Fannie Mae approval, Equity Loans’ financial condition, organization, staffing, experience and written processes and procedures were carefully vetted and tested by Fannie Mae.

****As a result, Equity Loans is now approved to sell mortgages for delivery to the government sponsored entity (GSE). Equity Loans adds its Fannie Mae approval to its existing industry certifications and memberships, including: Better Business Bureau Accreditation; Community Mortgage Lenders of America; Lenders One; Mortgage Bankers Association; and the National Reverse Mortgage Lenders Association.

****“Equity Loans has one of the most diverse portfolios of loan products in the residential mortgage industry, and the ability to sell whole loans to Fannie Mae gives us a greater opportunity to help even more borrowers achieve their dreams of homeownership,” said Kunjan “KP” Patel, CEO of Equity Loans. “We’re looking forward to a successful and long-standing relationship with Fannie Mae.”

****Equity Loans LLC’s operations extend to more than 30 states. Headquartered in Atlanta, Ga., Equity Loans provides a full array of lending resources when making Conventional, FHA, VA, Jumbo, Reverse Mortgages and USDA loans.