Jane C. King, the Queen of renovation lending, will head up Platinum Home Mortgage Corp.'s new correspondent lending division as division vice president.
King brings to Platinum more than three decades experience in the ins and out of rehab mortgages, most recently at Freedom Mortgage, where she was vice president in the Freedom Renovation division. Joining her from Freedom will be Michael Young as assistant vice president.
Platinum's new correspondent division will specialize in both government and conventional renovation financing programs with a special emphasis on the FHA 203(k) and FHA 203(k) streamlined programs. It also will offer Fannie Mae's HomePath package along with a more traditional product menu.
Senior Vice President Lee Gross said the new division intends to take advantage of the shortage of expertise and experience in the renovation sector. "This is an opportunity for Platinum Home Mortgage to fill a void by offering unique mortgage products," he said.
The Rolling Meadows, Ill., company is currently in an aggressive growth mode nationwide. It is licensed in 25 states, holds more than 100 individual mortgage originator licenses and has offices in California, Florida, Idaho, Illinois, Minnesota, Nevada, New York and North Carolina.
