Bank of Okla. Hires Fannie Exec Elliot Salzman to Head Correspondent Operations

Bank of Oklahoma this week hired former Fannie Mae executive Elliot Salzman as vice president in charge of correspondent lending.

Salzman in an interview with National Mortgage News said his mission is to help the Tulsa-based bank grow its correspondent platform into a national player.

“They entered correspondent about a year-and-a-half ago,” he said. “They want to go national and expand it out to both coasts. We’re looking to hire, too.” Salzman will handle the operations side of the business.

Currently, Bank of Oklahoma is buying $30 million to $40 million a month from smaller correspondents, much of it in its bank footprint.

Based in Philadelphia, Salzman worked at Fannie Mae for three years and was in charge of due diligence for loans that went into securitizations.

He said that with some firms exiting the correspondent channel there is a huge potential for others to fill the void.

The bank also owns BOK Mortgage, a top 50 ranked mortgage banking firm, according to the Quarterly Data Report.