ComUnity Opens Subprime Unit

ComUnity Lending Morgan Hill, Calif., has announced the opening of a subprime lending division, CreditFlex Funding, which will be headed by ComUnity veteran Steven T. Walker as division vice president.The company said offices will be established throughout the country, the first of which will be in Morgan Hill. Mr. Walker, who was most recently vice president of retail development, previously managed Norwest Mortgage's Alternative Lending Branch in Washington State, among other subprime-oriented positions. Joining him to lead the new division will be Scott Coburn, who has been named vice president and national sales manager. "We feel that the ComUnity Lending service philosophy will make a splash in the nonprime marketplace," said Darryl Fry, president and chief executive officer of ComUnity Lending. "The marriage of nonprime loan products and our Mortgage Master service concept is a natural fit for meeting the demands of the marketplace." Under the Mortgage Master concept, one mortgage professional underwrites, locks, draws, documents, and funds loans. The company can be found online at http://www.comunitylending.