NAMMBA acquires Cultural Outreach
NAMMBA (National Association of Minority Mortgage Bankers of America) has acquired Cultural Outreach Solutions to better support lenders in reaching young and diverse borrowers. By formally joining forces, the two organizations offer lenders a comprehensive solution for increasing sales in the fastest-growing markets and empowering communities to build wealth through homeownership.
The organization has partnered with Cultural Outreach via its consulting practice, NAMMBA Consulting, to make sustainable homeownership more accessible to the next generation of consumers while advocating for the inclusion of women and minorities in mortgage leadership.
In 2020, Cultural Outreach and NAMMBA launched the “Purchase Playbook” to provide lenders with a customized assessment and strategy to better reach today’s purchase market. This includes evaluating areas of digital branding, digital marketing, recruitment, products and programs, agent and influencer relationships, and training.
Cultural Outreach was founded by Kristin Messerli in 2013 and has since grown to help over fifty lenders establish marketing channels and improve social media content to better connect with today’s consumers.
NAMMBA was founded by industry veteran, Tony Thompson, CMB in 2016 and has successfully developed a platform to connect organizations who are seeking to leverage diversity as a competitive advantage.
NAMMBA’s platform provides companies with a unique opportunity to connect with originators, operations and real estate professionals from all ethnicities. Additionally, through its MISSION 2025 Initiative, it has set a goal to introduce 50K college students to careers in the real estate and real estate finance industry while providing them with financial literacy to increase homeownership in communities of color.
“We began collaborating more formally with Cultural Outreach last year,” said Thompson. “We recognized the symbiotic relationship of our services and our customers’ need for a holistic approach. This relationship will establish NAMMBA Consulting as the premier resource for lenders by providing data, demographics and diversity best practices to the industry. We are much more powerful in driving business results for lenders when we work hand-in-hand.”
ReverseVision promotes Joe Langner to CEO
Promoting from within, ReverseVision, the San Diego, California-based national provider of reverse mortgages, has further expanded the responsibilities of its president Joe Langner promoting him to president and chief executive officer, effective immediately. Langner will lead ReverseVision’s efforts to increase the use home equity as part of retirement finance.
Former CEO John Button will continue to advise ReverseVision as a member of the board and represent the company in a range of industry organizations and events.
Since joining ReverseVision as president in March 2020 when the COVID-19 pandemic just started to breakout, Langner used his extensive tech management experience to initiate integrations that align the company’s technology and services with advanced lending capabilities.
Langner increased the development and customer support staff by 25% and joined forces with Amazon Web Services to upgrade ReverseVision’s data centers; recruited staff dedicated to expanding the integration and Application Programming Interface partner relationships in June; and launched a complimentary reverse mortgage consultation service for lenders.
“Having had the opportunity to interact directly with Joe during his time at Ellie Mae, I was tremendously excited to have him bring his energy, knowledge and experience to ReverseVision,” said Jeb Spencer, chairman of the board and managing partner of TVC Capital. “Joe is well-known and respected throughout the mortgage industry for his deep and technologically-grounded understanding of the digital mortgage ecosystem,” and aptitude for working closely with lenders to help them strategically deploy advanced software technologies.
Langner has more than 30 years of executive mortgage technology experience. As chief operating officer and chief sales officer at Ellie Mae, Langner was a member of the senior leadership team “that substantially grew its market share leading up to the firm’s initial public offering in 2011,” the company said.
Previously, he served as CEO at cloud-based, digital lending platform Blue Sage; president at Fiserv affiliate PCLender; executive vice president at global operations management technology provider, Sage (SGE.L); and senior vice president at global business data and analytics provider Dun and Bradstreet.
“My time at ReverseVision has only reinforced my conviction that both the mortgage industry and consumers would be best served by establishing HECMs and private reverse loans as foundational programs alongside traditional forward loans,” said Langner. “All of the 1.5 million senior consumers that take out a home loan each year deserve to be presented with a mortgage option that can also help them achieve their financial and retirement goals.”
Flagstar appoints two women to BoD, hires operations head
Flagstar Bancorp is adding new female leadership perspectives to its board of directors and business operations. The company announced the appointment of Toan Huynh and Lori Jordan to its board of directors, “keeping a promise made in July to further diversify its board by adding women of color.” Huynh and Jordan also will serve on the board of Flagstar Bank.
Huynh is an independent director of Bankers Financial Corporation (BFC) with over 20 years’ experience as a cloud and digital leader in various industries.
She chairs the BFC compensation committee and is a member of the audit, compliance, executive and the enterprise risk committee, who actively invests and advises high-growth technology and software-as-a-service companies. She is a long-time supporter of women in technology, venture investing, and finance.
Jordan currently serves as strategic product leader for Amazon.com, Inc.’s Flex Last Mile and Last Mile organizations.
During her 25-year career Jordan spent seven years at Microsoft Corporation, ultimately serving as director of strategy and business development for the Azure core platform, machine learning, and artificial intelligence. Among others, she also launched two early stage venture funds, co-founded a boutique merger and acquisition advisory firm, led product planning and marketing for a $3 billion company.
Toan and Lori “are exceptional leaders who are standouts in the many fields where they operate,” said Alessandro DiNello, president and CEO of Flagstar in a welcoming note. “Both have experience with fintechs, cloud platforms, eCommerce, and other technologies that are rapidly transforming the banking and mortgage businesses. I’m confident that the skill sets they bring will prove invaluable.”
In addition, 30-year industry veteran Karen Buck with experience in operations across multiple business segments including mortgages has joined Flagstar Bank as executive vice president and head of Operations. She will be responsible for the bank’s Customer Engagement Center, retail and commercial operations, banking operations, and business risk and internal controls.
Buck was recognized by The American Banker as a member of The Most Powerful Teams in Banking, by South Jersey Biz magazine as one of 25 Women to Watch, and by NJBIZ Journal as one of the Best 50 Women in Business.
“She is a true professional and a standout in her field. We’re fortunate to have her in this important position to support the future growth of our retail and commercial businesses,” said DiNello.
First Community names regional AVP
First Community Mortgage (FCM) has named experienced mortgage finance professional Crissy Salyer regional assistant vice president. She brings to her role 16 years of experience in regional mortgage management and other wealth and financial areas, and a team of mortgage pros who originate mortgages for consumers in various markets where FCM is licensed.
“Crissy loves her work and that shows. Most importantly, it translates to her team and to satisfied clients and business partners,” said Dan Smith, president of First Community Mortgage. “She ensures the mortgage or refinance process is a positive experience – never overwhelming, and she and her team are always available to accept new challenges and answer client questions.”
Team Salyer focuses on a full range of residential mortgage needs, including purchases, refinance, construction, home equity loans, and first-time homebuyer programs. Based in Charlotte, they primarily serve mortgage clients in North Carolina, South Carolina and Tennessee. FCM funded over $3 billion in home loans in 2020.
“Navigating the mortgage process can be smooth with the right person to help you, and I strive to always provide that experience,” Salyer said. “I task myself and my team with having a positive impact on the lives of the people we encounter, and part of that is fostering clients who remain clients for life.”
Away from work, the East Tennessee native and ETSU grad enjoys helping animals in need, including large animals like elephants, and has volunteered with the Boys & Girls Clubs and Junior Achievement.