The industry veteran joins the bank after 15 years at the government-sponsored enterprise
Flagstar Bank has appointed Kristy Fercho to lead its mortgage business. She most recently served as senior vice president and customer delivery executive at Fannie Mae.
"[Fercho] brings a wealth of industry experience from Fannie Mae, a powerhouse in the mortgage industry and a leading source of financing for home lenders. And the timing couldn't be better with Flagstar primed to consolidate our position as the fifth largest bank originator in the country,” said Alessandro DiNello, president and CEO of Flagstar. He added that Fercho has worked with Flagstar since 2008 and knows the company well.
Fercho spent 15 years with Fannie Mae. Her broad experience covers mortgage originations, servicing, fulfillment, risk management, and regulation. She was initially responsible for Fannie’s people strategy, talent acquisition, and cultural transformation in her role as vice president of human resources. In 2007, she began serving in various customer-management roles and oversaw the mortgage production of almost 2,000 lenders.
Fercho was most recently responsible for the customer delivery strategy and business performance of all customers in the western US, delivering single-family home loans to the agency.
In 2016, Flagstar originated $32 billion in home loans. The bank recently announced that it closed its first residential mortgage-backed securities transaction, which was valued at $444 million. DiNello said the move offers the bank a more efficient way of selling jumbo mortgages into the market. Earlier this year, Flagstar announced its acquisition of mortgage bank and financial advisory firm Opes Advisors, which operates in three West Coast states.
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Flagstar closes first RMBS securitization
Flagstar to acquire Opes Advisors
"[Fercho] brings a wealth of industry experience from Fannie Mae, a powerhouse in the mortgage industry and a leading source of financing for home lenders. And the timing couldn't be better with Flagstar primed to consolidate our position as the fifth largest bank originator in the country,” said Alessandro DiNello, president and CEO of Flagstar. He added that Fercho has worked with Flagstar since 2008 and knows the company well.
Fercho spent 15 years with Fannie Mae. Her broad experience covers mortgage originations, servicing, fulfillment, risk management, and regulation. She was initially responsible for Fannie’s people strategy, talent acquisition, and cultural transformation in her role as vice president of human resources. In 2007, she began serving in various customer-management roles and oversaw the mortgage production of almost 2,000 lenders.
Fercho was most recently responsible for the customer delivery strategy and business performance of all customers in the western US, delivering single-family home loans to the agency.
In 2016, Flagstar originated $32 billion in home loans. The bank recently announced that it closed its first residential mortgage-backed securities transaction, which was valued at $444 million. DiNello said the move offers the bank a more efficient way of selling jumbo mortgages into the market. Earlier this year, Flagstar announced its acquisition of mortgage bank and financial advisory firm Opes Advisors, which operates in three West Coast states.
Related stories:
Flagstar closes first RMBS securitization
Flagstar to acquire Opes Advisors
