AmeriSave Eliminates Published Conventional Overlays

AmeriSave said on Monday it is eliminating published conventional overlays, citing strong performance in the loans that have been delivered to its wholesale division.

“The volume of business being delivered to our wholesale division continues to be of exceptional quality and the performance is outstanding,” said Mark Lively, executive vice president of credit risk, in a press release.

“With this in mind Amerisave believes it warrants the removal of our existing overlays to help our customers deliver even more great business to Amerisave with fewer obstacles.”

The company also said it plans to hire at least 12 new wholesale/retail sales people in all areas of the country.

In addition, Amerisave, Atlanta, said it has promoted Joseph Watts, who has been a vice president at the company, to senior vice president, national sales.

Also promoted was Angelo Zakis, who has been a correspondent and wholesale account executive. Zakis now is regional sales manager for the Northeast and North Central regions.

Camelia Berinde, who has worked in the AmeriSave retail division as a senior mortgage processor, is transitioning to the correspondent division as an account executive in the Michigan market.