Notable mortgage industry hires and promotions, March 13-17

Fannie Mae announced that Michael Seelig was appointed to its board of directors and will serve on its audit committee. Seelig was a senior executive at PricewaterhouseCoopers LLP, where he was a partner from 1997 until his retirement in September 2022.

The Federal Deposit Insurance Corp. named Tim Mayopoulos as CEO of Silicon Valley Bridge Bank, the successor of Silicon Valley Bank following the latter’s collapse. Mayopoulos is a former president and CEO of Fannie Mae, ascending to the positions in 2012. Most recently, he served as president of Blend Labs Inc.

New American Funding (NAF) announced that Pat Bolan was named as chief production officer. In this role, he will ensure that New American’s retail sales division is set up for growth in 2023 and beyond. Prior to joining NAF, Bolan served as a division manager at Guaranteed Rate. Additionally, he has experience as divisional president at Prospect Mortgage and as senior vice president and director of retail mortgage sales at Capital One.

PennyMac appointed William Chang to the role of senior managing director and chief capital markets officer for PennyMac Financial Services (PFSI), and to senior managing director and chief investment officer for PennyMac Mortgage (PMT). Most recently, Chang served as deputy chief investment officer for both PFSI and PMT. Prior to joining PennyMac, he served in the mergers and acquisitions group at Credit Suisse for more than a decade. He earned a bachelor’s degree in political economy from Williams College.

Waterstone Mortgage Corp. promoted Jennifer George to vice president of investor relations and credit policy. She has more than 30 years of experience in the mortgage lending industry, starting in a customer service support role for a mortgage servicer. She joined Waterstone in 2018 as underwriting manager for the West region, later earning a promotion to vice president of credit policy. In her new role, George will continue her credit-policy duties while overseeing Waterstone’s product development team and managing investor relations.

UMortgage announced the addition of Ravi Patel as a managing partner. Previously, Patel served as senior vice president of mortgage lending at Guaranteed Rate.

Nations Lending announced the hiring of Steve Dieckhaus as area sales manager, overseeing its new branch in St. Louis. He will be responsible for growing the branch’s loan production and pipeline, relationship management and recruiting efforts. Most recently, he was with USA Mortgage, where he served for nearly five years as a senior loan originator.

HighTechLending announced Eric Ellsworth as its executive vice president of sales, a position which will include oversight of the company’s call center, outside sales, branches and third-party business teams.  Previously with Reverse Mortgage Funding LLC, Ellsworth was a vice president of retail sales for eight years.  Prior to that, he was at Liberty Reverse Mortgage, where he managed its inside and outside sales divisions.


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