New Leadership Shakes Up Reverse Mortgage and Fintech Sectors
September 4, 2024, 10:27 pm
Location: United States, Wisconsin, Madison
Employees: 5001-10000
Founded date: 1996
Location: United States, South Carolina, Fort Mill
Employees: 1001-5000
Founded date: 2008
In the ever-evolving landscape of finance, two companies are making waves with significant leadership changes. CMG Home Loans and Figure Technology Solutions have recently appointed key figures to steer their operations in the reverse mortgage and fintech sectors, respectively. These moves reflect a broader trend of innovation and growth in the financial services industry.
CMG Home Loans, a retail lending division of CMG Financial, has welcomed Kari Van Kleef as its new reverse mortgage operations manager. This appointment is not just a change in personnel; it signals a strategic push into the reverse mortgage market. Van Kleef brings a wealth of experience, having spent 26 years in the mortgage industry, with a focused expertise in reverse mortgages since 2015. Her previous roles at Fairway Independent Mortgage Corp. and Movement Mortgage showcase her ability to build and expand operations. At Fairway, she transformed a small team into a robust division, growing from six to 55 employees. This kind of growth is the lifeblood of any successful business.
Van Kleef’s enthusiasm for her new role is palpable. She sees CMG as a fertile ground for her skills and passion. The company’s commitment to innovation and growth aligns perfectly with her vision. This synergy could be the spark that ignites further expansion in the reverse mortgage sector. CMG’s leadership team, including seasoned professionals like Gina Larson and Sean Kirksey, is poised to support her efforts. Together, they aim to tap into the burgeoning demand for reverse mortgage products.
The numbers tell a compelling story. CMG has reported a staggering 500% increase in Home Equity Conversion Mortgage (HECM) volume in just the first seven months of 2024. This leap from 12 to 72 originated loans is not just impressive; it’s indicative of a shifting market. As more homeowners seek financial solutions that allow them to leverage their home equity, CMG is strategically positioned to meet this demand.
Meanwhile, Figure Technology Solutions is making headlines with the appointment of Ronald Chillemi as its first chief legal officer. Chillemi’s extensive background in regulatory affairs and compliance makes him a valuable asset for the fintech company. With over 25 years of experience, including roles as a federal and state prosecutor, he brings a depth of knowledge that few can match. His previous positions at Aven and Better have equipped him with the skills necessary to navigate the complex legal landscape of fintech.
Figure has rapidly established itself as a leader in the home equity line of credit (HELOC) market. Since its inception in 2018, the company has originated over $11 billion in HELOCs. This impressive figure underscores the effectiveness of its digital-first approach. With technology that allows homeowners to secure funding in as little as five days, Figure is reshaping the lending experience. Chillemi’s role will be crucial as the company continues to expand its reach and refine its operations.
The fintech landscape is increasingly competitive. Figure’s recent initiatives, such as the launch of Figure Connect, highlight its commitment to innovation. This blockchain-based marketplace aims to streamline the process of connecting buyers and sellers of private credit loans. By reducing settlement timelines and enhancing pricing certainty, Figure is positioning itself as a forward-thinking player in the market.
Both CMG and Figure are navigating a complex environment. The financial services industry is undergoing significant transformation, driven by technological advancements and changing consumer expectations. Companies that can adapt and innovate will thrive. The appointments of Van Kleef and Chillemi reflect a recognition of this reality. They are not just filling roles; they are setting the stage for future success.
As the reverse mortgage sector grows, CMG’s strategic focus on leadership and innovation could yield substantial rewards. The company’s ability to leverage its existing relationships with 1,400 traditional loan officers provides a unique advantage. This network can facilitate the introduction of reverse mortgage products to a broader audience, creating opportunities for growth.
On the other hand, Figure’s commitment to compliance and regulatory oversight under Chillemi’s guidance will be essential as it continues to expand its offerings. The fintech landscape is fraught with challenges, and having a seasoned legal expert at the helm will help navigate these waters. As Figure embarks on its next chapter, the foundation laid by Chillemi could prove invaluable.
In conclusion, the appointments of Kari Van Kleef and Ronald Chillemi mark significant milestones for CMG Home Loans and Figure Technology Solutions. These leaders bring expertise, vision, and a commitment to innovation. As both companies chart their paths forward, they embody the spirit of resilience and adaptability that defines the modern financial services industry. The future looks bright for CMG and Figure, as they harness their strengths to meet the evolving needs of consumers. The financial landscape is changing, and these companies are ready to lead the charge.
CMG Home Loans, a retail lending division of CMG Financial, has welcomed Kari Van Kleef as its new reverse mortgage operations manager. This appointment is not just a change in personnel; it signals a strategic push into the reverse mortgage market. Van Kleef brings a wealth of experience, having spent 26 years in the mortgage industry, with a focused expertise in reverse mortgages since 2015. Her previous roles at Fairway Independent Mortgage Corp. and Movement Mortgage showcase her ability to build and expand operations. At Fairway, she transformed a small team into a robust division, growing from six to 55 employees. This kind of growth is the lifeblood of any successful business.
Van Kleef’s enthusiasm for her new role is palpable. She sees CMG as a fertile ground for her skills and passion. The company’s commitment to innovation and growth aligns perfectly with her vision. This synergy could be the spark that ignites further expansion in the reverse mortgage sector. CMG’s leadership team, including seasoned professionals like Gina Larson and Sean Kirksey, is poised to support her efforts. Together, they aim to tap into the burgeoning demand for reverse mortgage products.
The numbers tell a compelling story. CMG has reported a staggering 500% increase in Home Equity Conversion Mortgage (HECM) volume in just the first seven months of 2024. This leap from 12 to 72 originated loans is not just impressive; it’s indicative of a shifting market. As more homeowners seek financial solutions that allow them to leverage their home equity, CMG is strategically positioned to meet this demand.
Meanwhile, Figure Technology Solutions is making headlines with the appointment of Ronald Chillemi as its first chief legal officer. Chillemi’s extensive background in regulatory affairs and compliance makes him a valuable asset for the fintech company. With over 25 years of experience, including roles as a federal and state prosecutor, he brings a depth of knowledge that few can match. His previous positions at Aven and Better have equipped him with the skills necessary to navigate the complex legal landscape of fintech.
Figure has rapidly established itself as a leader in the home equity line of credit (HELOC) market. Since its inception in 2018, the company has originated over $11 billion in HELOCs. This impressive figure underscores the effectiveness of its digital-first approach. With technology that allows homeowners to secure funding in as little as five days, Figure is reshaping the lending experience. Chillemi’s role will be crucial as the company continues to expand its reach and refine its operations.
The fintech landscape is increasingly competitive. Figure’s recent initiatives, such as the launch of Figure Connect, highlight its commitment to innovation. This blockchain-based marketplace aims to streamline the process of connecting buyers and sellers of private credit loans. By reducing settlement timelines and enhancing pricing certainty, Figure is positioning itself as a forward-thinking player in the market.
Both CMG and Figure are navigating a complex environment. The financial services industry is undergoing significant transformation, driven by technological advancements and changing consumer expectations. Companies that can adapt and innovate will thrive. The appointments of Van Kleef and Chillemi reflect a recognition of this reality. They are not just filling roles; they are setting the stage for future success.
As the reverse mortgage sector grows, CMG’s strategic focus on leadership and innovation could yield substantial rewards. The company’s ability to leverage its existing relationships with 1,400 traditional loan officers provides a unique advantage. This network can facilitate the introduction of reverse mortgage products to a broader audience, creating opportunities for growth.
On the other hand, Figure’s commitment to compliance and regulatory oversight under Chillemi’s guidance will be essential as it continues to expand its offerings. The fintech landscape is fraught with challenges, and having a seasoned legal expert at the helm will help navigate these waters. As Figure embarks on its next chapter, the foundation laid by Chillemi could prove invaluable.
In conclusion, the appointments of Kari Van Kleef and Ronald Chillemi mark significant milestones for CMG Home Loans and Figure Technology Solutions. These leaders bring expertise, vision, and a commitment to innovation. As both companies chart their paths forward, they embody the spirit of resilience and adaptability that defines the modern financial services industry. The future looks bright for CMG and Figure, as they harness their strengths to meet the evolving needs of consumers. The financial landscape is changing, and these companies are ready to lead the charge.