Nigel Drummond has been named executive vice president for operations of Home Capital Inc., an Atlanta-based mortgage lender.Mr. Drummond was most recently senior vice president of operations with responsibility for building processes and procedures, as well as staffing the processing, underwriting, and closing departments, Home Capital said. He is currently focused on increasing the staff at the company's Atlanta headquarters and its new Phoenix Operations Center. Before joining Home Capital, Mr. Drummond served as vice president of operations at U.S. Bank. In other personnel news, Home Capital announced the hiring of Mike Cozzocrea as senior vice president of secondary marketing. Mr. Cozzocrea was most recently senior vice president of secondary marketing/operations at Homeowners Loan Corp., Atlanta. The company can be found online at http://www.homecapitalinc.com.
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Former Angel Oak Lending Chief Marketing Officer Steven Winokur has come back into the non-qualified mortgage business by taking a marketing role at Carrington Mortgage Services.
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The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.
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Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
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The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
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Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
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