Embrace Home Loans has announced that Greg Dalgarno has been promoted from Sales Manager to Director of Builder Services. Based in Timonium, Maryland, Dalgarno will focus on growing Embrace’s new construction home lending business throughout the East Coast by forming partnerships with homebuilders and recruiting loan officers who specialize in new home construction. Dalgarno expects to hire 15 to 20 new loan officers over the next year.
“Greg has been instrumental in expanding our relationships with homebuilders by understanding their needs and presenting customized solutions,” said Jason Will, SVP of Market Growth at Embrace Home Loans. “Greg also has vast experience working with homebuilders of all sizes, which is important today because many small and mid-size private builders must compete with national, publicly traded builders with tremendous resources.”
Dalgarno has more than 20 years of mortgage industry experience. Prior to joining Embrace, he was a top-producing Originator and Sales Manager at Guaranteed Rate and Wells Fargo, where he worked closely with homebuilders and helped both companies increase their overall sales.
“I’m looking forward to expanding Embrace’s footprint all along the East Coast, from Maine to Florida,” Dalgarno said. “Embrace has always been a strong advocate for new construction. Over the past few years, we’ve been growing that business and will continue to do so.”
Embrace is seeing more interest in new home construction loans today due to the lack of inventory on the market, Dalgarno said. He estimates Embrace has expanded its builder business by about 30% over the past year alone.
Embrace Home Loans is developing a “builder-designated” certification for current and new loan officers. Loan officers from Embrace Home Loans can earn their certification through a combination of in-house training, and real-world experience working with homebuilders.
“With a shortage of existing homes available, buyers are more inclined to consider building their own home,” Dalgarno said. “We’ve also come up with some special programs and incentives that builders can offer to homebuyers, including discounted forward commitments. These commitments allow a builder to lock a block of funds at a below market interest rate, then pass the rate through to the buyers. Often, the rate can be a full percentage point—or even more—below market rates.”
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