In its efforts to continue growing in the private-label segment, LenderLive Network Inc. [1]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 [2].
"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."