Press
Carrington Mortgage Services names David Grosteffon as new wholesale divisional sales manager
Grosteffon to lead company’s focus on establishing strategic alliances with leading community banks and credit unions.
SANTA ANA, CA (September 3, 2014) — The Wholesale Lending Division of Carrington Mortgage Services, LLC (Carrington) today announced that it has appointed David Grosteffon as divisional sales manager for Strategic Accounts. Grosteffon brings to Carrington a rich history of leadership and executive sales management experience, as well as a proven track record of successfully developing growth initiatives, including sales territory expansion programs, for leading financial institutions. In his new position at Carrington, Grosteffon will manage the company’s focus on establishing strategic alliances with leading community banks and credit unions.
Prior to Carrington, Grosteffon served as vice president and sales manager at J.P. Morgan Chase, where he was focused on growing the J.P. Morgan Private Client Brand in the Westchester, New York market. He was also vice president and sales manager at Household Finance/HSBC in the Westchester market. As well, Grosteffon served as regional operations vice president at Fremont Investment and Loan in New York, and regional vice president at CitiFinancial/The Associates in the Colorado, Idaho, Oregon, Washington and Wisconsin markets.
“David Grosteffon’s financial management background and market expansion experience support Carrington’s growth strategy to further extend its reach to meet the unique needs of prospective borrowers – particularly those in the underserved market,” said Ray Brousseau, Executive Vice President of Carrington Mortgage Services, LLC’s Mortgage Lending Division. “David and his team are well equipped to effectively manage our partnerships with leading community banks and credit unions, which will play a significant role in contributing to our overall business strategy.”
For community banks and credit unions interested in learning more about partnering with Carrington Mortgage Services, contact David Grosteffon directly at (914) 482-1759 or call (866) 288-1016. For more information visit www.CarringtonWholesale.com.
Carrington’s Commitment to Serving the Underserved Market
An estimated one in three consumers has a FICO credit score below 650 according to industry experts. For these consumers, obtaining access to appropriate financing options can be a challenge – one that Carrington is uniquely equipped to handle due to the company’s ability to both originate quality loans and appropriately service them after the fact. While Carrington will continue to provide a wide breadth of product and support to borrowers across all ranges of the credit spectrum, the company will increase its attention and focus on providing service to that underserved segment of the market where it can make the most impact – and where its core competencies are obviously needed. To accelerate and further enhance its ability to give this market the attention it deserves, Carrington has lowered its minimum credit requirement to a FICO score of 550, and expanded its guidelines on a number of FHA, VA and USDA loan programs, extending eligibility to more property types and reducing overlays.
As advocates of borrower education and in support of the company’s commitment to meeting the needs of the underserved market, Carrington developed patent-pending MyLoanDetail™, a proprietary online loan review resource designed to improve the financial literacy of its customers by walking every customer through the details of their loan. This education initiative will help to ensure borrower understanding of loan terms and responsibilities. Carrington requires all borrowers with credit scores of 640 and below to successfully complete the MyLoanDetail online education program prior to funding.
About Carrington Mortgage Services – Mortgage Lending Division
Carrington Mortgage Services, LLC (Carrington; NMLS ID 2600) is a residential retail and wholesale lending subsidiary of Carrington Holding Company, LLC. Founded in 2007, the company is based in Santa Ana, California and is an equal housing opportunity lender licensed to originate loans in 43 states, the District of Columbia and Puerto Rico with an experienced team focused on producing high quality loans and error-free transactions. Carrington’s advanced technology platform and high-touch customer service provide superior loan origination experiences for consumers, while its commitment to borrower education and use of its proprietary online loan review resource, MyLoanDetail, enhance the company’s ability to responsibly extend credit to borrowers – especially those in the underserved market.
Carrington’s wholesale lending products include FHA, VA and USDA loans. To learn more about Carrington’s wholesale lending division and the company’s current promotions, visit www.CarringtonWholesale.com, or follow us on Facebook, Twitter or LinkedIn.