Middletown, R.I.-based Embrace Home Loans, a direct lender for Fannie Mae and Freddie Mac, an approved Federal Housing Administration and Veterans Affairs lender, and an issuer for Ginnie Mae, is launching a new correspondent lending division.
Jackie Weed, a veteran mortgage professional with extensive correspondent lending experience, will head-up the new division and has been named vice president, director of correspondent lending, according to a company press release.
Weed has more than 25 years of mortgage lending experience and has successfully created, grown and managed several start-up correspondent lending platforms. Prior to joining Embrace, she held executive level positions at First Choice Loan Services, a wholly owned subsidiary of First Choice Bank; Aegis Mortgage; and SIB Mortgage, a wholly owned subsidiary of Staten Island Bank.
‘Strategically, we have long-identified the benefits of developing a correspondent group, taking our proven practices in the direct-to-consumer and retail space, and bringing those as a differentiating solution to the community banker and independent mortgage lender,’ says Kurt Noyce, president of Embrace Home Loans. ‘We resisted – however, doing so until we were confident in providing this operating unit with the marketing, technology and credit support resources to ensure their competitive success. We have spent the past year building those capabilities and are eager to build new alliances, new relationships and new friends.’