heard on the street
continued from page 10
America’s Choice Home Loans (ACHL) has named Simon Nwoke as head of the new ACHL branch in Macon, Ga.; Dante Miller as head of ACHL’s new Corpus Christi, Texas branch; David Velazquez as head of the new Virginia Beach, Va. branch; and Renee Ralls as head of its new Salem, Ore. branch. Paul Wyner has been named senior vice president of third-party origination of Stonegate Mortgage. David Robinson has joined Gateway Mortgage Group as vice president and director of alternative sales channels. MGIC has announced the promotion of Timothy J. Mattke to the position of senior vice president-controller, chief accounting officer. Interthinx has announced the expansion of its executive team with the additions of Jim Portner as head of continued on page 20
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AUGUST 2012
Amalgamated Bank has announced the launch of its own full-service Home
Mortgage Professionals to Watch
e-mail: sales@calyxsoftware.com visit: www.calyxsoftware.com
OREGON MORTGAGE PROFESSIONAL MAGAZINE
Amalgamated Bank Launches New Home Mortgage Division
Mortgage Division. The new division will be providing mortgages for single-family residences, condominiums, multifamily houses with up to four units, and cooperative apartments. Financing is also available for vacation and investment properties. Amalgamated is offering a wide range of fixed- and adjustable-rate mortgages (ARMs), as well as home equity loans and lines of credit. Applicants who apply for and have their mortgages approved during July and August will have the cost of their home appraisal refunded by Amalgamated at closing. The Bank is also offering free workshops for firsttime homebuyers to help them understand the home financing process. Amalgamated’s newest division will be directed by Senior Vice President and Director of Residential Lending Edward A. Bolmarcich, who is a veteran mortgage banker with more than 25 years of experience in the field. Prior to joining Amalgamated, Bolmarcich served for five years as vice president of residential and consumer lending for Brooklyn Federal Savings Bank, managing Brooklyn Federal’s mortgage origination operations. “As the progressive force in banking for 89 years, we will serve as the lender of choice for workers seeking to fulfill the American dream of buying a home for their family,” said Amalgamated’s President and CEO Edward Grebow. We provide a trusted and affordable alternative to the big banks and mortgage companies that have so poorly served homebuyers by engaging in predatory and other unfair lending practices. Hardworking people can count on Amalgamated for fair, honest and transparent treatment through every step of the process.”
NationalMortgageProfessional.com
DRI Management Systems (DRI), the terms of which were not disclosed. In conjunction with the acquisition, ServiceLink also announced the launch of ServiceLink Fusion, the company’s new servicing workflow platform, which was designed and implemented in response to specific feedback from the company’s servicing clients and incorporates technology gained through the acquisition. “In response to increasing regulatory oversight, our clients have asked for a way to successfully centralize their servicing workflow management and we listened,” said Laura MacIntyre, ServiceLink’s senior vice president of servicing solutions. “ServiceLink Fusion is truly a groundbreaking workflow platform, developed and configured in the default space and is ready to accept additional configurations across the loan servicing continuum.” ServiceLink Fusion uses the newlyacquired DRI workflow platform to provide loan servicers with the industry’s first comprehensive, end-to-end workflow management solution. For the last four years, DRI has been focused on developing and configuring an entirely new workflow and content management platform for the loan servicing industry. This platform, which uses a common database and common user interface (UI) framework, is in production and is presently configured to support eight key functional areas within default. While use of ServiceLink Fusion is not limited to default, existing configurations include loss mitigation, pre-foreclosure, foreclosure, bankruptcy, claims, third party service ordering, litigation, default administration, and real-estate owned (REO) management. ServiceLink’s Fusion platform enables clients to manage operational risk, while reducing the limitations and constraints that result from hard-coded point technology solutions, databases, and other interfaces. As a result, compliance with new regulatory mandates, such as providing a Single Point of Contact (SPOC) has become relatively simple. Integrating with ServiceLink’s existing loan origination system (LOS), Commerce Velocity’s Spectrum, the ServiceLink Fusion team now delivers solutions spanning the entire loan life cycle, from origination through servicing and disposition. “For more than two decades, DRI has led the way in defining the default technology space,” said Duke Olrich, DRI Management Systems president and CEO. “We are excited to join forces with such a forward-thinking industry leader and look forward to working with ServiceLink’s servicing solutions team to deliver new technology for the industry.”