TheMReport — News and strategies for the evolving mortgage marketplace.
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May 2023 » thefivestar.com 13 May 2023 M O V E R S & S H A K E R S loans, FHA loans, VA loans, and more. More recently, as rates have moved higher, Momen- tum has developed new programs, including securing forward commitments that have helped deliver 30-year mortgage rates as low as 4.875%. Service Providers CBC MORTGAGE AGENCY HIRES SEASONED CAPITAL MARKETS DIRECTOR CBC Mortgage Agency (CBCMA), a nationally chartered housing finance agency and source of down payment assistance for first-time homebuyers, has hired Mark Leslie as Director, Capital Markets. Leslie has spent more than two decades as a mortgage trader, including senior trading positions at Stearns Lending, Guaranteed Rate, and Caliber Home Loans. "Mark's depth of experience as a mort- gage trader at major lending institutions is a huge asset for us as we navigate the capital markets," CBC Mortgage Agency President Miki Adams said. "His strong risk manage- ment, hedging, and agency MBS background were exactly what we were seeking to help us implement the next phase of CBC's growth strategy." Leslie began his career as a junior mort- gage trader in 2001. He served as Trading VP at several prominent mortgage banking firms, including Stearns Lending, where he helped the company transfer trading operations from California to Texas, and Caliber Home Loans, where he was the main architect of the company's rate sheet pricing models. Leslie holds a bachelor's degree in eco- nomics from Virginia Tech. "During my 22 years as a mortgage trader, I've worked through several extreme mort- gage market cycles that taught me invaluable lessons that apply to today's high-rate envi- ronment," Leslie said. "I look forward to us- ing this experience to help CBC continue to provide down payment assistance programs that enable low- to moderate-income families across America to achieve homeownership." Founded in 2013, CBC Mortgage Agency is a nationally chartered housing finance agency. The company helps low-to-moderate income consumers, often in minority neigh- borhoods, achieve the dream of homeown- ership. CBCMA, which was recognized as one of the Top 25 Companies in Mortgage & Servicing by MReport, is a wholly owned subsidiary of Cedar Band Corp., a federally chartered tribal corporation founded by the Cedar Band of Paiute Indians. MGIC ANNOUNCES NEW BUSINESS DEVELOPMENT LEADERSHIP Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corpora- tion, announced three promotions in the area of Business Development, designed to further strengthen the company's longstand- ing commitment to customer experience and relationships. Danny Garcia-Velez becomes SVP of Business Development and Marketing, having joined MGIC in 2017 with extensive experience in housing policy, product man- agement, and community development. He quickly stood out as a leader and innovator who has taken on successive leadership roles in the ensuing years. In August 2020, he was promoted to VP of Business Development, and in 2022, he was again promoted to Group VP, Head of Regional Sales and Marketing. "Danny's strong background paired with his vision are ideal for today's market and the needs of our customer," said Sal Miosi, President and Chief Operations Officer. "His leadership and capabilities will be on full display as he leads our business development and marketing efforts into the future." "Mark's depth of experience as a mortgage trader at major lending institutions is a huge asset for us as we navigate the capital markets. His strong risk management, hedging, and agency MBS background were exactly what we were seeking to help us implement the next phase of CBC's growth strategy." — Miki Adams, President, CBC Mortgage Agency