The third party originations channels will “grow exponentially” over the next few years, and First Guaranty Mortgage Corp., McLean, Va., wants to be ready for that, the company’s top executive said. Furthermore, said CEO Andrew Peters, the company is looking to move from being known as a boutique lender to being one who can meet all of kinds of borrower’s loan needs.
First Guaranty is placing its wholesale channel and its correspondent flow purchase channel under a single executive to help accomplish this, CEO Andrew Peters said. Jeffrey Gibson will take on the new position of managing director, TPO Flow. Until now he was assistant vice president, correspondent division manager.