Eye on the Industry

Keep track of all the important movements of the industry through this activity update that tracks the people and companies in news this week.

CitiMortgage, a New York-based global bank, has announced it has entered into dual agreements to integrate its full suite of U.S. mortgage products into a single digital platform for its clients. According to the release, a new front-end digital experience, LoanFx, from Digital Risk LLC, a provider of digital technology platforms and services, will be complemented by a new loan origination system, LoanSphere Empower, from Black Knight. CitiMortgage will initiate implementation of these new solutions immediately, with full production expected in early 2019.
“With these best-in-class systems in place, we will revolutionize the experience we provide our clients, through every channel and product,” said CD Davies, Head of CitiMortgage. These agreements are another critical step toward making mortgage a key differentiator for our franchise and delivering the full power of Citi’s network to clients.”

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Fiserv, Inc., a global provider of financial services technology solutions, has announced that First Foundation Bank, based in Irvine, California, has extended and expanded its relationship with Fiserv to meet the growing technological needs of its diverse customer base. First Foundation Bank is a subsidiary of First Foundation Inc., a financial services company that provides personal banking, business banking, and private wealth management services.First Foundation Bank will add a set of advanced digital offerings and continue its long-term relationship with Fiserv for use of the Precision core account processing platform. The added digital offerings include ArchitectTM, a comprehensive system that will support the bank’s multi-generational retail clients, and Commercial CenterSM, which will provide an integrated delivery system to scale high-demand commercial banking services.

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DIMONT the Dallas-headquartered mortgage-related insurance services provider has announced the appointment of  Laura MacIntyre as Chief Revenue Officer. In her new role, MacIntyre, a 25-year industry veteran, will oversee key growth areas, including sales and marketing. “Laura’s track record is exemplary,” said DIMONT President and CEO Denis Brosnan. “She is an innovative and accomplished executive with demonstrated ability to deliver mission critical results. Her contributions will position DIMONT for great success in serving our mortgage and auto clientele.” Most recently, she served as Director of Sales and Operations at DocMagic, where she grew the revenue and market share of the company while successfully deploying their digital strategy to the marketplace. MacIntyre also led significant growth revenue at Fidelity National Financial and Lender Processing Services where she served as COO for both companies.

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Toronto-Dominion Bank (TD Bank) has announced the appointment of Rick Bechtel as EVP and head of the bank’s U.S. mortgage business and Scott Lindner as National Sales Director. In a release, the bank said that Bechtel and Lindner bring established mortgage industry experience and key senior leadership to TD, as the New-Jersey headquartered bank aims to drive growth. Bechtel has more than 27 years of banking and management experience, most recently serving as managing director, head of mortgage banking, at CIBC. In his new role, Bechtel will oversee all aspects of the lending business and will be responsible for driving growth and optimizing mortgage industry technology. Lindner has 30 years of experience in the financial services industry and most recently served as SVP, Head of retail banking, at Scottrade. At TD Bank, Lindner will work to grow the business through a combination of sales-force expansion and integration with the retail bank.

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The National Association of Realtors (NAR) has announced some sweeping changes to its internal organizational structure and senior management team to more effectively and efficiently serve its members. In a release NAR said that the new structure, comprised of 10 newly reorganized groups across NAR's two offices in Chicago and Washington, D.C., results from the merger of several teams as well as the expansion and creation of several groups aimed to enhance services to and engagement with members. "This restructuring to the internal organization is the most sweeping change in the association's history, and I'm confident it will drive greater innovation, put more focus on member engagement and satisfaction, achieve a more holistic communications and marketing strategy, and improve the association's nimbleness and decision-making," said Bob Goldberg, CEO at NAR.