Ohio-based lender Union Home Mortgage made changes to its leadership group, promoting three executives to vice president positions as the company seeks to boost its growth.
The company announced on Wednesday that Bryan Wright will be the vice president of national sales and Cyndi Garza, the vice president of national business development, a new position created in the company. Meanwhile, Steve Runnels will hold the role of vice president of retail sales, east division.
According to Inside Mortgage Finance, the company is the 49th-largest mortgage lender in the country. UHM’s origination volume increased 25.8% in 2021, to $13 billion. In the fourth quarter, the volume was $4.2 billion, up 65.5% compared to the prior quarter.
Bill Cosgrove, president and CEO, said in a statement that “through the elevation to these new roles, there is increased opportunity for all to recruit and support talent on a broader level, furthering the growth of the company.”
Wright, a veteran with over 30 years in the mortgage industry, joined Union Home Mortgage in 2012. Garza began her career at the company in 2011 with the establishment of its first branch in Michigan. Runnels also has three decades in the industry – with a special focus on productive teams and customer fulfillment – and has been a UHM partner for over seven years.
In his new role, Wright will be responsible for amplifying the growth of the company’s retail division. Garza’s efforts are expected to be on developing and identifying new opportunities, working with regional teams to attract and retain partners, and integrating social media into branches across the company. Runnels will expand the growth of the company’s east division.
The changes in Union Home Mortgage’s leadership are happening during a more competitive environment in the mortgage industry.
Rates increased to 3.76% for the week ending March 3, amid the geopolitical tensions caused by Russia’s war in Ukraine, up from 3.02% a year ago. Meanwhile, lenders’ margins are under pressure, mainly in the retail channel.
Consequently, some lenders are laying off. California-based WinnPointe Corporation, doing business as Interactive Mortgage, has started a reduction in its workforce of around 180 employees, after suffering more than $1 million in losses.
Consumer direct lender Wyndham Capital Mortgage announced the layoff of 35 LOs in January, while refi shops Better.com and Interfirst Mortgage both laid off significant portions of their workforces. Santander Bank announced earlier this month that it would be shutting down its mortgage lending business and laying off its divisional staff.
