Greg Frost, one of the nation's top-producing mortgage brokers, has joined LoanToolbox, Westlake Village, Calif., as vice president for new product development.Tim Braheem, chief executive of LoanToolbox, said he and Mr. Frost are "much alike in that we're 'ham-and-egg' loan officers. We focus on things that are easy to implement -- that is, the basic building blocks of what it takes to be a great loan officer." Beginning in March, LoanToolbox members will have free access to five of Mr. Frost's trademarked marketing systems. He also plans to host live conference-call interviews, provide voice broadcast tips on time-sensitive issues, and continue to develop new products based on the changing needs of industry professionals. Members will also have the ability to call in twice a month for personal coaching and to discuss their immediate challenges. In 2002, Mr. Frost was ranked the nation's 19th-largest individual producer of mortgages, with volume of $143.80 million, according to Broker magazine, a MortgageWire affiliate.
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Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
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