LenderLive Hires VP of National Sales for Outsource Services

In its efforts to continue growing in the private-label segment, LenderLive Network Inc. announced the hiring of Stephen J. Kolimaga as VP of national sales for the company's Outsource Services division.

Working in his new position, Kolimaga is responsible for developing new private-label fulfillment relationships with banks, credit unions, and other financial institutions.

Kolimaga brings nearly two decades of mortgage experience to LenderLive, having spent much of that time focused on private-label operations. Prior to joining the company, he was SVP of private-label and affinity relocation sales at Green Tree Servicing. He also previously served at PHH Corporation as SVP of private-label sales.

LenderLive CEO Rick Seehausen explained Kolimaga's experience will aid the company as it explores avenues to continue offering mortgage products even as per-loan profits sink.

"The Mortgage Bankers Association's (MBA) most recent figures on per loan profitability were eye-opening for many banks and credit unions," Seehausen said. "Small and mid-sized institutions are looking for ways to continue to offer both first and second-lien mortgage products, but to do it in a safer, variable cost fashion.

"Steve's deep understanding of the private-label process and his consultative sales approach will help LenderLive further expand in our key markets."