Press Release: Craig Chapman to Become SVP Global Affinity/Strategic Alliances and Jay Patel Hired as VP Global Affinity/Strategic Alliances at eLEND/AFR
LIGHTNING RELEASES 07/14/14 –Parsippany, NJ – eLEND/AFR has hired Craig Chapman as the Senior Vice President of Global Affinity and Strategic Alliances and Jay Patel as the Vice President of Global Affinity and Strategic Alliances.
Chapman, with more than 20 years of experience in the mortgage industry, was instrumental in opening a de novo bank, 1st Commonwealth Bank of Virginia. He grew the mortgage unit to a $30m monthly run rate, which propelled the bank to profitability in under 18 months. Chapman is well versed in asset valuation, loss mitigation, underwriting and secondary marketing in addition to sales and marketing best practices and execution.
Prior to joining the Bank, Chapman held executive management positions at First National Bank of Arizona (FNBA) and Greenpoint Financial (Capital One). While at FNBA, he developed, directed and managed 200 sales professionals, including two tiers of sales managers. He successfully grew the eastern division from a start up to $4 billion in annual production. He was then promoted to national sales manager with responsibility for over 300 sales people and $7 billion in annual production. At Greenpoint, Chapman held several leadership positions and ultimately was the Eastern Division correspondent manager and was responsible for increasing volume by 50%.
“We are excited to have Craig and Jay on-board,” said David Margulies, Executive Vice President of Global Sales. Their leadership and experience will further expand AFR’s capabilities throughout all aspects of the business.”
Mr. Chapman and Mr. Patel expressed genuine interest in eLEND’s innovative approach to the mortgage business, and will both play key roles in helping the company continue to grow its national expansion efforts, while upholding service to the customer as a high priority.
Patel has over 14 years of experience in the mortgage industry. Prior to founding Salataris, a National mortgage consulting company, Patel ran national sales production for Mortgage Harmony Corp. During his tenure at Mortgage Harmony, Patel helped foster relationships with numerous mortgage insurance companies and spearheaded several strategic alliances with companies providing services related to mortgage banking.
During his tenure at the 1st Commonwealth Bank of VA, Patel oversaw secondary marketing as well as managed and recruited loan originators. His mortgage banking career began at First National Bank of Arizona (FNBA) where he worked in various areas, including loan processing, underwriting, and regional sales production. Patel was responsible for growing both New York and metro D.C. markets to over $400 million annual production each.
The addition of Chapman and Patel is well aligned with eLEND/AFR’s focus on combining the latest technology with a highly skilled, inventive, and knowledgeable team to provide excellent residential mortgage products across both the residential and wholesale channels.
eLEND/ AFR has strengthened its concentration on providing mortgage solutions to retail customers, brokers/bankers and financial institutions by adding strategic assets and quality people to further develop their offerings and enhance their relationships across the mortgage finance industry.
About eLEND/AFR – Lender NMLS: 2826. eLEND/AFR is an approved lending institution holding an A+ Accredited rating with the Better Business Bureau (BBB), is a member of the Mortgage Bankers Association (MBA), is an Equal Housing Lender and an Equal Opportunity Employer providing a wide range of loan choices at competitive rates to new and existing customers. Company headquarters is located in Parsippany, New Jersey.
Forward-Looking Statements- eLEND/AFR is a privately held company. This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits to consumers from using eLEND/AFR services. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events. Any forward-looking statements in this release are based on limited information currently available to eLEND/AFR, which is subject to change, and eLEND/AFR will not necessarily update the information.