Industry Veteran Named President of IndiSoft

IndiSoft, a technology development firm that specializes in systems for the financial services industry, has named Camillo Melchiorre president. He will focus on the firm’s sales and marketing efforts. The move allows Sanjeev Dahiwadkar, who previously held both the roles of president and CEO, to concentrate on IndiSoft’s strategic direction as CEO.

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Melchiorre joins IndiSoft from HLP where he was president and CEO. HLP, which is powered by IndiSoft’s RxOffice, is a nonprofit collaborative that enables counselors, advocates, mortgage lenders, servicers, investors, attorneys and government agencies to build solutions that help individuals and families achieve and sustain homeownership.

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Before working with HLP, Melchiorre was senior vice president of loss management at Radian Group Inc. (RDN: NYSE) where he led their efforts to manage losses during the financial crisis with new systems, operations and loss mitigation strategy.

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Prior to his Radian position, Melchiorre was co-founder and executive vice president of business development at MSTD Inc. MSTD developed the mortgage servicing industry’s first web-based default servicing and loss mitigation application, BackInTheBlack. He was also vice president of servicer relations and policy at Freddie Mac where he led Freddie Mac’s landmark Servicer Advisory Board. Before joining Freddie Mac, he was vice president of loss mitigation and quality control at Commonwealth Mortgage Assurance Corp. (CMAC, now Radian Group Inc.) where he began the company’s affordable housing pre-purchase counseling program.

“We have a long history with Cam that started years before he worked for HLP,” Dahiwadkar said. “Cam’s longevity in the mortgage industry and his knowledge will help us further position IndiSoft as a strong technology player that not only understands the industry but can also anticipate the technology needed to address any process or regulatory challenge.”

Melchiorre has more than 30 years of experience in many areas of the mortgage industry which has afforded him the opportunity to be a featured speaker during several industry events, and he has authored multiple articles that have appeared in leading industry publications. He is a graduate of Gettysburg College and Widener University School of Law.

“I have a long history with Sanjeev and IndiSoft,” Melchiorre said. “This is an exciting time in the industry one in which we have a chance to truly harness the power and capability of technology to make fundamental changes in efficiencies while being agile enough to be compliant with the ever-changing regulatory climate. IndiSoft has a remarkable platform that can help achieve those goals, and I am happy to be a part of the effort to move the company forward during this time.”

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

Docutech Names Amy Brandt As President And COO

Docutech has named Amy Brandt as its new President and Chief Operating Officer. In this role, Brandt will be responsible for leading all aspects of daily operations, including sales, customer support, marketing and product development.

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Bringing more than 20 years of mortgage and software industry experience to Docutech, Brandt most recently served as President of Originations and Corporate Technology at New Penn Financial. At New Penn Financial, Brandt oversaw all origination channels, including direct-to-consumer products, third party originations and retail. Prior to New Penn Financial, Brandt served as Chief Operations Officer of Prospect Mortgage, where she enhanced day-to-day operations and transformed the lender’s technology infrastructure.

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“Docutech has experienced significant success by providing industry-leading document and compliance services to financial institutions over the past two decades,” said Ty Jenkins, founder and CEO of Docutech. “As we continue to expand our product and service offerings as an enterprise lending solutions leader, Amy brings the leadership and expertise needed to optimize Docutech’s operations to better serve our customers and realize our growth potential.”

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In addition to her executive career, Brandt is currently a Board Member of Sun to Water Technologies, and she is a Scholar Rescue Fund Advisory Board Member with the Institute of International Education. She is a former Board Member with Source Corp Inc. and a former Board Member and Capital Founder with Bluebeam Software Inc. Amy is also the former Chair of Your Music America and was a Federal Housing Policy Council Member with the Financial Services Roundtable. Brandt holds a Juris Doctorate from Arizona State University College of Law and a Bachelor of Arts in Political Science from the University of Southern California.

“Docutech is well-positioned to be the premier provider of enterprise-wide lending solutions to financial institutions of all sizes,” Brandt said. “I look forward to leading Docutech to provide the highest level of value, service and innovation to banks and lenders in the coming years.”

Carrington Mortgage Gets New President

To ensure the continued growth and evolution of Carrington’s mortgage business, as well as ongoing enhancement of the customer experience, Ray Brousseau has been promoted to President of Carrington Mortgage Services. As Carrington continues to grow year over year, we are more committed to our customers than ever before. Under Brousseau’s leadership, Carrington’s full-service mortgage lending business – including wholesale, retail and centralized sales and operations – has experienced unprecedented growth and operational results.

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“Ray is an outstanding senior leader, with a consistently positive outlook that serves as an inspiration for his teams,” said Bruce Rose, Chief Executive Officer and Founder of The Carrington Companies. “In his new role, I am confident his direction will enable us to continue to build our mortgage business, always with our customers in mind.”

“Our mortgage lending and mortgage servicing divisions continue to grow and excel,” said Dave Gordon, Chief Operating Officer for Carrington Holding Company. “With Ray’s leadership, we’re looking forward to an even greater level of cooperation and collaboration across our entire mortgage organization.”

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Brousseau’s broad expertise includes nearly 30 years of mortgage banking and consumer finance experience. Prior to joining Carrington in 2011, he spent 23 years leading various segments of Citi’s consumer finance business, CitiFinancial.

Carrington is a holding company whose primary businesses include asset management, mortgages, real estate transactions and real estate logistics. Collectively, the businesses are vertically and horizontally integrated, and provide a broad range of real estate services encompassing nearly all aspects of single family residential real estate transactions in the United States.

MBA President Calls For Leadership

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association delivered the following remarks at the opening general session of MBA’s National Secondary Market Conference and Expo in New York City. Here’s what he prepared:

This conference marks the half-way point through our year. The MBA’s Secondary Markets Conference is a unique conference where top leadership in capital markets and those heading their company’s key business channels come together to learn, negotiate, and discover new opportunities. And while many of us are competitors, we also work together as friends and peers. And we meet together this year while seeing continued growth in the U.S. economy, an uncertain political future, and a confusing and fragile geopolitical environment that, like it or not, will affect each and every one of our businesses.

When we look at the business environment today, we see both opportunities and challenges. And now, more than ever, we need great leadership. Leadership in our industry, leadership for our nation, and world leadership that understands the fragility and interconnectedness that binds us together.

Leadership is about more than just seizing the opportunities. True leaders also take on the challenges. Oftentimes it’s about doing what’s right versus what’s easy. True leadership is standing with a unified message that is clear, rational and strategic, and then executing on it. Leadership involves taking risks – the willingness to step forward with progressive ideas and leave behind some of what you know.

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Leadership isn’t easy. We must know when to fight, but also when to stay the course. It’s been nearly 10 years since the financial crisis began. Since the crisis we have been confronted with thousands of pages of new laws and regulations that impact every part of our business. Add on to this new (and often unclear) interpretations of old rules and unique uses of existing laws like the civil war -era False Claims Act.

And while the simple fact is that today’s mortgage lending environment is the most conservative, safest we have ever seen, most lenders still feel like we are under attack. Add in a political atmosphere complete with broad brush accusations in political rhetoric that only perpetuate anger towards an industry that’s sole purpose is to provide real estate finance opportunities to qualified borrowers, and it can be tough not to want to fight back.

I’m here to tell you that we cannot let our frustration cloud our judgement, not when we’ve come so far and have led the discussion on so many critical policy issues.

Our leadership on these important issues has made a difference. For the past five years, we’ve been fighting the good fight to responsibly and sustainably provide access to credit and to help offer those opportunities for qualified borrowers.

MBA has been the outsized voice, advancing a litany of important policy changes that are making a difference. Most importantly, this has been a team effort. Working with all our members, we’ve been successful because we have led with one voice on behalf of an entire industry that knows firsthand the challenges borrowers face today. This is much broader than the secondary market – I’m talking about the entire real estate finance system.

Imagine the impact on borrowers had we not led the efforts with Fannie Mae, Freddie Mac, and the FHFA for relief and clarity on rep and warrants and compensatory fees. We persistently negotiated the reforms to rep and warrants to clarify lenders’ obligations and reduce the need for undue overlays. The revisions to compensatory fees are also a positive step forward with properly structured incentives to deter poor servicer performance. The new timelines will reduce the severity of assessments in cases where the existing timelines do not accurately reflect the actual time it takes to foreclose. Finally, raising the de minimis exception should provide substantial compensatory fee relief to small and mid-size mortgage servicers.

Seven times now, we’ve beaten back attempts in Congress to divert guarantee fees, encouraging and reinforcing the belief that if any additional fees be placed on mortgages, then those should be used exclusively for real estate finance purposes.

For quite some time Fannie Mae and Freddie Mac (the GSES), while regulated and government sponsored, could set rules without coordinating with other regulators or obtaining public review and comment. Thanks to MBA’s relationship with FHFA and the GSEs, they now often seek public comment prior to setting new major polices, to the benefit of lenders and investors and most importantly, consumers.

Uncertainty around the future of the GSEs continues to paralyze investment in new or dormant securitization channels, but we have still made progress. Conservatorship was never intended to be permanent. That’s why, three years ago at this very conference, MBA called on FHFA to take non-legislative transition steps designed to modernize and advance the business operations of the GSEs.

Let’s be clear, our calls for GSE reform are to protect the critical role these two companies perform. Conservatorship with no capital and facing a political regime change poses a real threat to our mortgage system. We called for the creation of a single security for the two GSEs. We called for up-front risk share in order to level the playing field of competition and provide access to the market for lenders of all sizes. And we called for the common securitization platform to ensure data standardization, fungibility, and objectiveness.

Our call was answered by Director Watt and today the single security is in sight and the CSP is being built. This will help the housing finance market and we need to push aggressively to get it fully completed. We’re also moving forward on risk sharing that can bring meaningful private capital into the market to assume up-front credit risk.
The success we have had has not been limited just to the GSEs.

It was MBA and its members who fought for a safe harbor in the Ability to Repay/Qualified Mortgage rule. People told us we were crazy, that it would never happen. But we went in, armed with data and convincing arguments about how the safe harbor would benefit consumers and emerged with a rule that is working today to protect borrowers while still allowing lenders to extend reasonable amounts of credit.

Dodd-Frank required six federal regulators to finalize the Risk Retention/QRM rule which has significant implications for mortgage backed securities. Some groups called for a 10 percent downpayment for any mortgage to be considered a QRM, others called for even 30 percent. MBA led a coalition of stakeholders who argued that a downpayment requirement was unnecessary and that QRM should align with the QM. Again, many said it couldn’t be done, but we persevered using facts, backed up by data, and today QRM aligns with QM, and there is no downpayment requirement.

Every single one of these achievements has been accomplished because of your input and your leadership and our unity. Through industry participation, we are moving forward to refine the rules and establish a pathway toward a more vibrant mortgage market.

But we’ve also gone beyond policy, politics and rulemaking. At MBA we’re working with partner groups to achieve benefits for consumers, the industry, the mortgage market and the economy. We established MBA’s Opens Doors Foundation so we could support families in need and give back to the communities we work to build. We’re preparing for future changes in household demographics and through MBA Education we are helping develop a younger and more diverse workforce that more accurately reflects the customers you serve.

Operationally, at MBA we’ve created new outlets for our members’ voices and ideas such as the Independent Mortgage Bankers Executive Council, the Community Bank and Credit Union Network and the State Relations Initiative, all designed to make sure that MBA is getting the best input from its members.

MBA has grown louder, been more successful and more powerful because we’ve listened to our members. MBA simply provided you the platform. That’s how we have achieved so much, and the only way we can continue to be – united as one voice.

But our work isn’t finished yet. Leading amidst a transforming mortgage market is a marathon, not a sprint. We still have much left to do and we still need to stay together on these efforts. Many of our calls for key policy actions are being met, but I’m concerned some are moving at too slow a pace. Now that the major rules required under Dodd Frank are out and the implementation phase is over, the CFPB has moved on to other consumer issues. It’s our job to keep leading and pushing to refine the rules so qualified borrowers can have the opportunities they deserve.

First, we must modify some of the rules so that they work on their own. For example, QM has done a lot of good, but still falls short of being the long term solution. Under the current rule, the GSEs can purchase good, sustainable loans that meet their underwriting standards but failed to meet the QM standard of 43% DTI. This is because the QM “patch” provides a safe harbor exemption for these loans. If we had to underwrite loans solely based on the written QM rule without the patch, and the permanent exemption for the GNMA programs, credit would be much tighter.

Here’s the problem – the patch is only in effect as long as the GSEs remain in conservatorship or for seven years, whichever comes first. When the patch expires, or if GSE underwriting changes substantially, a whole segment of qualified potential borrowers will be frozen out of the market.

The QM rule needs to stand on its own two feet. It should not be a rule that essentially punts all credit decisions to two companies that are not even regulated by the same agency. More importantly, the rule should demand the same credit approval process for a borrower, regardless as to whether the loan is being sold to a GSE or a private investor, as long as all the other terms are the same.

In all fairness, the industry did ask for this temporary stipulation in order to give us time to feel the impacts of QM on the market. But now there are too many “what ifs” that could impact the real estate finance system. We need to lead now and demand modifications to the QM rule before we find ourselves reacting to outside events that might eliminate the patch altogether.

What if there is a new regime at the CFPB once the current director’s term ends that brings a different view about the rule and the use of the patch?

What happens when the Director of the FHFA turns over and a new director comes with different ideas of the role, scope, and size of the GSEs in the market?

What if conservatorship ends and triggers the end of the patch?

I could keep going, but you get the point: the patch is temporary, and the clock is ticking. Let’s proactively re-write the rule now in a thoughtful way rather than in a panic response to events out of our control. As we re-write the rule, we should take into account the lessons learned about access to credit. We must be mindful of the dynamics affecting approval for a new generation that is more diverse and less traditional than we have ever seen in this country.

Next, we must continue working with FHFA on the secondary market transition steps. Here’s why – the conversation on the future of the GSEs is still very much alive and now other voices are being added to ours. Consumer groups, economists, and members from Capitol Hill all recognize the need to solve the conservatorship question. The transition steps being taken now will prepare the market for any future state and help ensure a competitive marketplace for institutions of all sizes. So here’s where we’re at:

Progress is being made on both the CSP and single security.

The CSP is in development, with Freddie Mac scheduled to begin using it for its current single-class securities, or CSS, this year. They have a CEO and an employee base, and are making positive progress toward the release dates set by FHFA. However, we must continue to push for a faster implementation to ensure that these critical advances cannot be reversed. Additionally, the platform should be open to non-agency MBS so that long-term efforts for both private capital and GSE reform can take advantage of the benefits of its efficiency, data, and consistency. And third, the CSP, and CSS itself, must be truly independent. Moving the full function of securitization away from the respective companies to the CSP will bring integrity, scale, and standardization to the securitization market.

Similarly, progress on the single security needs to accelerate. Aligning the TBA markets for both GSEs in order to promote a single fungible instrument should result in a more liquid market for all participants. Investors will retain the option to stipulate the issuer they want, which should keep discipline in the process with respect to key policies that impact prepayment speeds and other performance variables. We have recently made significant progress in getting investor buy-in to the benefits of a common security and key details continue to be negotiated. However, according to the FHFA, the single security won’t be implemented for both GSEs until 2018, most likely after the current Director finishes his term. Now is not the time to slow down and we urge FHFA to maintain focus on a more aggressive timeline.

The institutional commitment of FHFA to complete this work could fade as key personnel move on. We need this completed under the current regime at FHFA.

And risk share is now a growing part of the GSE model. While today’s transactions are certainly helpful to dispersing risk from the GSEs, and ultimately the taxpayers, they risk unleveling the playing field and do not clearly provide a direct benefit to borrowers. Other forms of credit enhancement, including deep-cover MI and recourse need to be implemented with full transparency as to structure and execution. The upfront model of risk sharing is a common theme in almost all GSE reform proposals because of its inherent advantages in transparency and borrower benefits. While some have been able to take advantage of up-front risk sharing in recent quarters, we need to make it an accessible option available to all lenders who serve borrowers in the market. Expanding the up-front risk-sharing program is a priority.

As we continue working with FHFA on transition steps, MBA’s new Task Force for a Future Secondary Market will be developing a proposal that will address end-state models that can fulfill an affordable housing/duty to serve mission while reducing taxpayer risk. This is a member-driven task force led by MBA’s Chairman-Elect Rodrigo Lopez. The task force consists of MBA member companies representing a broad cross-section of the residential and multifamily real estate finance industries, including entities of varying sizes and business models. The task force anticipates a proposal by the end of the year and this will serve as MBA’s secondary market position and strategy going forward.

Finally, we will continue to fight for a federal housing policy coordinator. The industry needs a key housing policy expert at the most senior level in the next Administration to coordinate across federal regulators to ensure they meet, talk to each other, and consider the implications of the confusion and conflict created by uncoordinated overlaps in the rules. We need to work with the leading candidates of both parties to make housing a priority in the next Administration. America is facing a housing affordability crisis that is only getting worse. The next president will need to tackle this issue immediately upon taking office.

So I have laid out a series of issues. I started with what we accomplished, to demonstrate what we can do. I finished with a few that represent work left to be done.

To get that work done, to get those projects over the finish line, I need your help.

Collectively we must work to change the dialogue about mortgage finance in America. We all share the frustration with today’s political rhetoric that’s painting a safe lending environment in a bad light. So let’s work together to change this.

Mortgage lending is safer today than it has ever been, but is not operating at full capacity because the regulatory/enforcement environment is forcing lenders to lend defensively. Home prices are up, unemployment is down and we have reforms in place that make the market safer, as a whole, and more sustainable for consumers, the economy and our businesses. With low rates, safe and well-underwritten loan products and an improving job market and economy, borrowers who can qualify and want to buy a home should feel great making that decision, but they don’t.

When I think about the real estate market today, the one word I keep coming back to is opportunity. And this opportunity is built on a platform of protections, confidence, and skill sets that exist to make sure we build a positive future for America’s next homeowners under the umbrella of the safest system in the world. Because of this opportunity, now is the time for leadership and perseverance.

I understand the desires of many to just deal with the issues we have now, but if we don’t look ahead to see what is needed to meet the demands of those coming into the market now and over the next decade, we will end up sliding backward. We have to keep moving forward.

Leadership is what we do together. We energize together with the biggest loudest voice in the market. We demand clarity and fairness for all participants, and we advocate for thoughtful and common sense solutions that will help support a sustainable market for the long term.

About The Author

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

Lender Promotes President To CEO

Envoy Mortgage, a Houston-based mortgage bank conducting business through its nationwide retail locations, correspondent lending channel and in-house loan servicing operation, announced that its president, Patrick Walden, has been named president and CEO.  Rick Thompson, who served as CEO of Envoy for six years, remains an owner of the company.

Walden and Thompson joined the company in 2008 in connection with their acquisition of ownership interests in the company and have led Envoy under a dual leadership structure since 2011.  Dana Gompers and David Zugheri, co-founders of the company (previously named First Houston Mortgage) retain ownership interests in Envoy and are active in the day-to-day management of the company.

“I am very confident in our future and committed to our success,” said Walden.  “Envoy is well-positioned for this change.  It comes at a time when all of our business channels are growing impressively and gathering momentum. Recruiting is robust, our associates are engaged and positive, and our financial foundation is very strong,” he said.

David H. Stevens For President?

*David H. Stevens for President?*
**By Phil Hall**

new-PhilH***There are plenty of names being tossed around for the 2016 presidential race: Hillary Clinton, Marco Rubio, Joe Biden, Rand Paul, etc. I’d like to place a name in to this mix: David H. Stevens, president and CEO of the Mortgage Bankers of America (MBA).

****Yes, I realize that choice will come as a surprise – especially to Stevens, who is not dropping broad hints about a future Oval Office occupancy. But in view of Stevens’ forceful and cogent speech at last week’s MBA Secondary Market Conference, I believe that a Stevens for President campaign would have plenty of support.

****Stevens’ speech was a sharp rebuke to both ends of Pennsylvania Avenue for their wretched inability to create something that even vaguely resembles a coherent federal housing finance policy – arguably, a major reason why the economy remains so painfully weak. In his speech, Stevens passionately spoke of the threats to the financial services industry, the wider economy, and the constitutional concept of checks-and-balances.

****“Unfortunately, the collective players in Washington have created an atmosphere where guarantee fees have been arbitrarily raised and, likewise, used as an offset to pay for other budget items; an atmosphere where government is backing the bulk of the mortgage market and directly impeding any opportunity for a return of private capital,” he said. “In this atmosphere, it’s been okay to change housing policy and regulations without transparency, coordination or consideration for the downstream effects – or to simply ask the industry how this will all impact the average consumer or the economic recovery. This is an atmosphere where the collective actions have produced an outcome that no longer favors vibrant, diverse business models.

****“To the contrary,” he continued. “These actions are actually hurting the goal of a broad and diverse industry. From community banks and credit unions to independent mortgage bankers and banks, the collective weight of change, the lack of any leadership in a future model for housing finance, and lack of coordination are our greatest challenges today.”

****Hmmm, when was the last time that any political figure had the guts to say that? Instead, we have a president who claims the housing market is “healing” (never mind that three-quarters of the mortgage activity is refinance related and one-quarter of the too-small purchase market involves transactions on distressed properties), and we have a GOP leadership that seems to exist only to throw banana peels under the president’s feet.

****Stevens also warned that the fate of the government-sponsored enterprises (GSEs) is being determined without any input from publicly elected officials. He argued that the GSEs and their beleaguered regulator, the Federal Housing Finance Agency, are acting unilaterally in so-called reform efforts that could create more harm than good. As for private capital (a.k.a. the bedrock of the American economic system), Stevens raised a Lenin-worthy red flag on the threats there.

****“Almost every major rulemaking from QRM to Basel III provides explicit exemption or preference to a GSE execution over any private capital option,” said. “The return of private capital rests in resolving these significant barriers.”

****Thankfully, Stevens’ speech offered more than mere complaining. He also issued a call for a genuine strategy for real prosperity.

****“There are many steps we must take to build a real estate finance system for the future – and among these steps, we must move past conservatorship and the government’s oversized role in housing,” he stated. “To get there, ultimately, Congress must do its part and take the appropriate steps.  Let’s move a GSE reform package through both chambers and restore a greater balance in housing finance.  Let’s work together to ensure g-fees are no longer used as a way to pay for other government spending.  Let’s build upon the hard work of some Senate and House committees that are working toward bipartisan solutions.”

****I don’t know where Stevens stands on issues relating to gun control, immigration reform, same-sex marriage or whatever hot topics are monopolizing the political chatter orbit. And, quite frankly, I don’t care – because anyone in Washington who is willing to tell the truth about the shambles of federal housing policy has already won my vote!

Phil Hall has been (among other things) a United Nations-based radio journalist, the president of a public relations and marketing agency, a financial magazine editor, the author of six books and a horror movie actor. Also, as you will discover, he is not shy about stating his views.

Ellie Mae Gets A New President

*Ellie Mae Names New President*
**By Tony Garritano**

TonyG***I’m sure that you’ve heard by now, but I would be remiss if I didn’t repeat it. Jonathan Corr has been named president and chief operating officer (COO) of Ellie Mae. Jonathan is a great friend, and very deserving. In this role, he will now be responsible for managing the company’s day-to-day operations.

****Corr will continue to report to Sig Anderman, the company’s chairman and chief executive officer.

****“It’s hardly a secret that Jonathan has played a central role in Ellie Mae’s growth,” said Anderman. “He was our ‘point man’ in the concept and creation of Encompass, a strong advocate for our software-as-a-service (SaaS) strategy, and he’s worked closely with me to complete and successfully integrate our major acquisitions, including DataTrac and Mavent. Since our successful initial public offering in 2011, he has also been heavily involved in our investor relations program.”

****Anderman added, “Going forward, Jonathan and Ed Luce, our chief financial officer, will handle the day-to-day management of Ellie Mae. This, in turn, will allow me to focus my time and energies more fully on our long-term growth strategy, new corporate and client initiatives, and potential acquisitions.”

****An 11-year veteran of Ellie Mae, Corr was named COO in 2011. Earlier, he led the company’s product management efforts and was chief strategy officer. In 2007, he was recognized in Mortgage Banking Magazine’s list of IT All-Stars for his contributions in mortgage technology. Prior to Ellie Mae, Corr held executive level positions at PeopleSoft, Inc. and Kana Software.

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