First Guaranty Mortgage Bulks up Operations

Growing national lender adds due diligence, national training, underwriting managers; partners with Lenders Compliance Group

 

McLean, VA  June 14, 2012     First Guaranty Mortgage Corp. (“FGMC”)  has added Linda Jacobs-Levardo, National Training Manager; Elizabeth Ramsey, National Underwriting Manager  and Chris Tyrrell, National Due Diligence Manager.  FGMC has also partnered with Lenders Compliance Group to provide compliance support.    FGMC is a national, full-service mortgage lending firm offering retail, wholesale, correspondent and capital markets mortgage solutions to clients of varying income and credit types.

 

Ramsey comes to FGMC with 29 years of experience in the mortgage lending industry.  She will grow and manage FGMC’s underwriting team, emphasizing a team-based approach in line with the lender’s commitment to manual, common-sense underwriting.  She was most recently with Home Savings of America as a national credit analyst.  Before that, she worked for five years with NBank as an AVP.  Ramsey was previously the underwriting manager for First Republic Mortgage and Republic State Mortgage, where she established the lender’s first wholesale lending division for “A-minus paper” loans.  She was issued her D.E. in 1993.

 

With FGMC, Tyrrell will oversee a team of due diligence underwriting analysts for the correspondent lending division.  He will manage the review of loans for acceptability for purchase through the division, including underwriting and compliance reviews of the transactions. Tyrrell comes to FGMC after serving five years as SVP/Quality Control for Home Savings of America, where he oversaw the Quality Control division for the bank.  Before that, he was the Underwriting Manager for the correspondent division at Wilmington Finance.   Tyrrell has extensive experience with pre-funding and post-funding quality control, broker administration, underwriting and operations management.  He has also been involved with HUD and FHA administrative projects, implementation and compliance with the NMLS Registration/SAFE Act regulation.  Tyrell received his bachelor’s degree from Cal State San Bernardino in Southern California.

 

Jacobs-Levardo will oversee FGMC’s training and mentoring programs for underwriting, credit policies and government lending product offerings.  She comes to FGMC with over 25 years of experience in the mortgage industry, receiving her D.E. in 1987.  She worked most recently as a national credit analyst with Home Savings of America.  Before that, she was a Senior Underwriter with Wells Fargo.  She has also worked with Radian Group and Washington Mutual Bank.   She has extensive experience with government lending programs including the FHA, VA and USDA programs.

 

New York-based Lenders Compliance Group, a full-service, mortgage risk management firm specializing in residential lending compliance, will provide an in-depth and continuous compliance review of FGMC’s entire origination process.  The firm will further help monitor all compliance aspects of FGMC’s contact with the public, through retail, wholesale and correspondent channels.  The firm will assist FGMC and its compliance team with all areas of residential mortgage compliance.  “FGMC has chosen a course of action that provides independent, substantive support to its own highly competent, internal compliance professionals,” said Jonathan Foxx, President & Managing Director, Lenders Compliance Group.  “It’s a prudent course in this ever-shifting regulatory and enforcement landscape.”

 

“While many of our competitors are focused on improving their production capabilities, we believe that good production begins with stout operations:  compliance, due diligence, quality control and underwriting,” said FGMC Chief Executive Officer Andrew Peters.  “FGMC’s new relationship with Lenders Compliance Group and our addition of Chris, Linda and Elizabeth again confirm our steady commitment to efficient, compliant loan production.  FGMC believes that the approval of HUD, Ginnie Mae and Fannie Mae to partner in their home loan programs is a privilege, which demands that we take a best practices approach to compliance.”