Mortgage firms add sales leadership and expand lending teams

NEXA Lending Elevates Susie Cheatham to National Sales Director

NEXA Lending has announced the appointment of Susie Cheatham as its new National Sales Director, a pivotal role aimed at bolstering the company’s sales infrastructure and outreach. Cheatham brings a wealth of experience to NEXA, having previously held significant positions at Bay Equity. During her tenure there, she demonstrated a strong capacity for leadership, initially managing a Kansas City branch and subsequently expanding her responsibilities to oversee regional operations.

In her new capacity at NEXA, Cheatham is slated to focus on several critical areas designed to propel the company forward. Her responsibilities will encompass aggressive recruitment of top-tier loan officers, strategic business development initiatives to identify and capitalize on new market opportunities, and the crucial coaching and mentorship of NEXA’s existing loan officer team. This focus on internal development and external growth suggests a proactive strategy by NEXA to enhance its market share and operational efficiency. The mortgage industry, often characterized by its reliance on skilled sales professionals, benefits immensely from leadership that can foster talent and drive performance. Cheatham’s background in both branch management and regional oversight provides her with a comprehensive understanding of the operational and strategic challenges faced by sales teams in the current market. Her role will be instrumental in shaping NEXA’s sales culture and ensuring its sales force is equipped to meet and exceed targets.

New American Funding Strengthens Southern California Presence with The Brandon Drew Group

New American Funding, a well-established player in the mortgage lending landscape, has significantly enhanced its capabilities in Southern California by integrating The Brandon Drew Group. This team, founded by the husband-and-wife duo Robert and Colleen Olivas, represents a substantial addition, particularly given its family-centric structure and specialized market focus. The group’s composition, which includes six of their ten children, two daughters-in-law, and Robert Olivas’s mother, speaks to a deeply rooted commitment to family values and a long-term vision for their business.

The Brandon Drew Group has carved out a distinct niche by specializing in serving key borrower segments: first-time homebuyers, veterans, active-duty military members, and individuals seeking refinance options. This specialization is particularly relevant in the current housing market, where demand from first-time buyers and veteran borrowers remains robust, despite economic fluctuations. The inclusion of this experienced and focused team is expected to bolster New American Funding’s reach and effectiveness in serving these vital demographic groups within the highly competitive Southern California market. The Olivas family’s deep understanding of the unique needs and challenges faced by these borrowers, coupled with their extensive experience, positions them to drive significant volume and customer satisfaction. The addition aligns with New American Funding’s broader strategy of acquiring and integrating specialized teams to enhance its service offerings and market penetration in key geographic areas.

Better Home & Finance Expands NEO Home Loans with Josh Burruss-Led Team

Better Home & Finance has strategically expanded its retail lending arm, NEO Home Loans, by bringing on board Josh Burruss and his team, known as The Home Team. This integration is poised to inject significant volume and expertise into Better’s platform, with The Home Team contributing $82.5 million in projected funded volume for 2025. This substantial figure highlights the immediate impact expected from this acquisition.

Josh Burruss is a seasoned veteran of the mortgage industry, boasting 24 years of experience. His continued role as a loan originator ensures that client relationships and direct sales efforts will remain a priority. Crucially, Burruss will also assume the position of NEO Home Loans’ head of retail innovation. In this capacity, he will dedicate his expertise to enhancing coaching methodologies, developing comprehensive training programs for loan officers, and spearheading product development initiatives. This dual focus on both sales execution and strategic innovation underscores Better’s commitment to fostering a high-performance culture and staying at the forefront of industry advancements. The mortgage sector is in constant flux, driven by regulatory changes, technological advancements, and shifting consumer preferences. By empowering experienced professionals like Burruss to drive innovation, Better aims to remain agile and responsive to these evolving dynamics. The infusion of $82.5 million in projected volume signifies a tangible increase in market presence and revenue potential for NEO Home Loans.

MISMO Appoints Angel Romero to Key Technology Leadership Role

In a move that signifies the growing importance of technology standards in the housing finance sector, the Mortgage Industry Standards Maintenance Organization (MISMO) has named Angel Romero as the vice chair of its Technology Impact and Enablement Community of Practice. Romero, who currently serves as the Housing Finance Agency Relationship Manager for Down Payment Resource, brings a unique perspective to this critical role.

His appointment to MISMO, a pivotal organization that develops and maintains e-business standards for the mortgage industry, highlights the increasing recognition of specialized knowledge within the technology domain. Romero’s role at Down Payment Resource, a company focused on connecting consumers with down payment assistance programs, provides him with firsthand insight into the practical application of technology in facilitating homeownership. In his new capacity, Romero will play an instrumental part in guiding discussions around mortgage technology standards. This includes representing the interests of down payment assistance programs, housing finance agencies, and the lenders that utilize these vital resources. The effective adoption of technology standards is crucial for streamlining processes, reducing costs, and improving the overall efficiency of the mortgage lifecycle. Romero’s involvement signals MISMO’s commitment to ensuring that its standards are inclusive and reflective of the diverse needs of the housing finance ecosystem, particularly for programs designed to promote affordability and access to homeownership. His tenure at Down Payment Resource, which began in 2023, has likely provided him with a contemporary understanding of the technological challenges and opportunities within this specific segment of the market.

Carter Bank Expands Mortgage Lending Team in Virginia

Carter Bank has strategically strengthened its mortgage lending capabilities within Virginia by adding two experienced mortgage loan officers: Carl Garnett and Tom Ulbrich. This expansion aims to enhance the bank’s service coverage across key regions of the Commonwealth.

Carl Garnett brings nearly three decades of experience in the mortgage industry, a testament to his deep understanding of the market and client needs. He will primarily focus his expertise on serving the Charlottesville and Lynchburg areas, two significant economic hubs within Virginia. His extensive background suggests a proven ability to navigate complex transactions and build lasting client relationships.

Tom Ulbrich also boasts an impressive career spanning over 30 years in mortgage lending. His focus will be on serving the Bedford and Smith Mountain Lake regions. These areas, known for their growing populations and unique real estate dynamics, will benefit from Ulbrich’s seasoned approach. The addition of these two seasoned professionals indicates Carter Bank’s commitment to providing localized, expert mortgage services. In a market where personalized service and local knowledge are highly valued, such strategic hires can significantly bolster a bank’s competitive edge. Expanding the mortgage team in Virginia reflects a potential growth strategy for Carter Bank, aiming to capture a larger share of the regional mortgage market by offering enhanced accessibility and specialized expertise to borrowers in these specific locales.

Industry Trends and Implications

The recent flurry of personnel announcements across mortgage and housing finance companies reflects a dynamic and evolving industry landscape. Several key trends are evident:

Specialization and Niche Focus: Companies like New American Funding are actively seeking out and integrating teams with specialized expertise, such as serving first-time homebuyers and veterans. This indicates a move away from a one-size-fits-all approach towards tailored services that cater to specific borrower demographics and their unique needs. The data suggests that segments like first-time homebuyers and military borrowers represent consistent demand, making specialization a sound business strategy. For instance, the National Association of Realtors consistently reports that first-time buyers constitute a significant portion of the homebuying market, often requiring specialized guidance on financing and down payment assistance.
Investment in Sales Leadership and Talent Development: The appointment of Susie Cheatham as National Sales Director at NEXA Lending and Josh Burruss’s role in retail innovation at Better Home & Finance underscore the industry’s emphasis on strong leadership and continuous improvement in sales operations. Companies recognize that a skilled and well-supported sales force is critical for driving volume and maintaining a competitive edge. Investing in coaching, training, and product development is essential for empowering loan officers to navigate complex market conditions and provide superior customer experiences.
Strategic Growth through Acquisitions and Integrations: Better Home & Finance’s addition of The Home Team exemplifies a growth strategy that involves acquiring established teams and their existing business. This approach allows companies to rapidly expand their market reach and volume without the lengthy process of organic growth. The $82.5 million in projected funded volume from The Home Team demonstrates the immediate financial impact of such strategic integrations.
The Growing Importance of Technology Standards: Angel Romero’s appointment to a leadership role within MISMO highlights the critical role that standardized technology plays in the efficiency and interoperability of the mortgage industry. As the industry becomes increasingly digitized, adherence to common standards is essential for streamlining processes, reducing errors, and facilitating data exchange. The focus on down payment assistance programs within this context suggests a push to make technology more accessible and effective for initiatives aimed at promoting homeownership affordability.
Geographic Expansion and Localized Expertise: Carter Bank’s expansion of its mortgage lending team in Virginia illustrates a continued focus on strengthening local market presence. In an industry where trust and familiarity are paramount, having experienced professionals embedded in specific communities can be a significant advantage. This approach allows banks to better understand regional market dynamics and cater to the specific needs of local borrowers.

The collective impact of these personnel moves suggests a sector that is actively adapting to market demands, technological advancements, and the ongoing pursuit of efficiency and customer satisfaction. Companies are investing in experienced talent and specialized teams to navigate the complexities of the current economic climate and position themselves for sustained growth in the years to come. The trend towards specialization, coupled with a strong emphasis on leadership development and technological integration, points towards a more sophisticated and customer-centric mortgage industry.