Fairway Names New Presidents

Fairway Independent Mortgage Corp., Sun Prairie, Wis., has promoted Paul Walnick from senior vice president of information technology to president of mortgage operations and Dan Cutaia from chief operating officer to president of capital markets and risk management. Walnick will oversee Fairway's day-to-day mortgage business and underwriting operations while providing branch and product support. Cutaia will oversee the overhaul of Fairway's loan origination platform, as well as all technical and compliance related issues, systems and secondary business. In 2009, Fairway closed $3.3 billion in mortgage volume, a 70% increase from the prior year. Steve Jacobson remains as chief executive. Walnick has held sales management positions at both Waterfield Financial Corp., and American Home Mortgage, where he oversaw retail sales production in Texas and Arizona. Cutaia was the founder and former president of Aucita Mortgage Capital and held executive positions with Waterfield Financial, where he oversaw numerous infrastructure initiatives involving post production and delivery, and product and credit risk.