Mike McElroy has joined mortgage lender First Guaranty Mortgage Corp. (FGMC) as the company’s general counsel. In addition, mortgage industry veterans Joe Garcia and Baird Marble have joined the company as account executives for the correspondent division.
McElroy comes to FGMC with extensive industry experience, including key roles with national mortgage lending and servicing firms; government sponsored enterprises; and private firms. He has more than 15 years of leadership in the financial services industry and capital markets.
Prior to joining FGMC, McElroy served as general counsel, chief compliance officer and secretary to Stonegate Mortgage Corp., an NYSE-listed mortgage originator and servicer. He also served as senior vice president and general counsel of Home Loan Servicing Solutions.
Prior to those positions, McElroy served as senior vice president and deputy general counsel of Ocwen Financial Corp., where his duties included directing transactional legal matters. Prior to joining Ocwen, he was an associate general counsel at Fannie Mae where he was responsible for mortgage-backed security offerings, loss mitigation on Fannie Mae’s securities portfolio, and structured transactions.
Before joining Fannie Mae, he was an associate and then a partner at Orrick, Herrington & Sutcliffe in the financial markets group, where he represented financial institutions in connection with securities offerings, derivatives and regulatory compliance.
Garcia has more than 20 years of experience growing and supporting leading brands in the mortgage industry. Immediately prior to joining FGMC, he was regional sales leader with PHH Mortgage. Before that, he was regional production manager for Guaranteed Rate. Garcia also previously served as vice president with TCF Bank, where he managed the correspondent and wholesale home equity division, servicing a portfolio of over 3,000 customers.
Marble has more than 30 years of experience in the real estate and mortgage lending industry. Most recently he was regional vice president for American Financial Resources. Previously, Marble was senior account manager for Radian, before which he served as vice president, business development for Goodman Dean. Marble has also held key development roles with other mortgage lenders, including Indymac Bank.
Earlier this year, FGMC acquired the assets of goodmortgage.com, an Internet-based mortgage lender headquartered in Charlotte, N.C. That deal gave Virginia-based FGMC a significant boost in terms of online lending technology.