Finance of America Mortgage targets credit unions, community banks with new sales team

The team will offer agency products and VA and FHA loans, among others

Finance of America Mortgage targets credit unions, community banks with new sales team
Finance of America Mortgage has added a sales team focused on credit unions and community banks.

Brad Seibel will lead the unit as managing director. With more than 30 years of experience in the mortgage lending industry, Seibel held origination, operations, risk management, and capital markets roles prior to joining FAM.

Veterans in the credit union industry make up the rest of the team. Linda Clampitt will serve as executive vice president, while Matt Abbink will hold the role of senior vice president for direct lending. Randy Shannon was named senior vice president for correspondent.

“Credit union membership is growing, and this new team will enable our credit union partners to continue to offer compelling loan products to their members,” said Bruno Pasceri, co-president of FAM. “While our initial offering will focus on products available through FAM, we expect to include the full suite of products available through the Finance of America family in the coming months.”

To meet the residential mortgage needs of credit union and community bank members, the sales team will offer products available within FAM, including agency products, VA, and FHA loans, as well as loans designed for medical professionals, construction lending, and non-qualified mortgage programs. The team will also offer services ranging from origination through closed-loan correspondent purchase, including processing and underwriting services.

“Finance of America Mortgage understands the needs of credit union members,” Seibel said. “I look forward to leveraging my industry experience, along with the resources and expertise across the Finance of America family, on behalf of credit unions across the country.”

The team will be based in Dallas and will offer products for credit unions across the US.

Related stories:
How do borrowers select mortgage lenders?
AIG enters securitization game