NMP - April 2017 - 36

TheMoneySource.com
How the company started: The Money Source Inc. was founded by
Stavros Papastavrou in December 1997, originally operating as a
mortgage broker in Melville, N.Y. By 2005,
the company evolved into a mortgage
lender, and has continued to transform
following the merger with its wholesale
division, Endeavor America Loan
Services. Since the merger, along with
new leadership including CEO Darius
Mirshahzadeh, President Ali Vafai and
Chief Revenue Officer Mike
Mirshahzadeh, The Money Source added
new channels and divisions, including
their high-touch loan servicing division.
The company has expanded its national
footprint to encompass seven offices. In
June of 2016, they surpassed a milestone
of $1 billion in loan fundings in one
month, taking the company closer to its
10-year goal to help over one million
American families achieve and maintain
their dream of home ownership. The
Money Source is a Top 15 Correspondent
Lender and Top 40 Wholesale Lender in
the mortgage industry.

How the company has changed the mortgage industry: The Money
Source's leadership has used organization-wide innovation to
continuously challenge the status quo. The
company dedicates resources to cultivating
leadership and company culture, implementing
employee engagement platforms and recognition
tools, as well as the quirky and beloved Pink
Unicorn Gazette newsletter, setting a standard for
practices across the industry.
The Money Source has also led in developing
technical solutions to problems the mortgage
industry has experienced for years, including
layers of convoluted back-end coding. The
company's platform solutions, EASY and loan
servicing technology, SIME, have enabled a
streamlined workflow and complete transparency
from loan originations through loan servicing.
The leadership at The Money Source has shared
insight across industry and business publications,
including Forbes.com, Entrepreneur.com and
National Mortgage News. The Money Source also
supports communities with its Pink Unicorn
Foundation, a charitable giving and volunteer arm
of The Money Source that was established in
2016.

APRIL 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

36

AngelOakMS.com

Caliber Home Loans Inc.

How the company started: Founded in 2013, Angel Oak Mortgage
Solutions (AOMS) sought to re-connect qualified homebuyers with
the investor community. Originally licensed in only seven states,
AOMS expanded to 35 states of March 2017. The firm has more
than doubled its non-agency production each year since its
inception and continues to establish itself as the market leader in the
non-prime space.
How the company has changed the mortgage industry: AOMS has
played a large role in the evolution of the mortgage industry. As one of
first lenders to offer non-agency mortgage products, educating the
marketplace that today's new non-prime products are sensible and
safe options for borrowers who would not generally qualify for agency
programs has been a priority. Lenders now have the ability to capture
more loans and market share in a decreasing market.
In addition, the Angel Oak family of companies has successfully
brought three securitizations covering
approximately $450 million of all Angel
Oak non-agency production to the
marketplace with AOMT 2017-1 being a
rated transaction.
In 2016, AOMS closed loan volume
more than doubled 2015 volume, its
network of broker companies has
increased to more than 1500 and it's now
licensed in 35 states. AOMS has proven
to be the unrivaled expert and market
leader in the non-prime market, and will
continue to bring much-needed liquidity
back to the U.S. mortgage market.

How the company started: Caliber Home Loans Inc. has
experienced tremendous growth since 2008. And we're not stopping
now. The company that exists today was created in 2013, when
Caliber Funding LLC and Vericrest Financial Inc. merged to create
Caliber Home Loans Inc.
One of Caliber Home Loans' predecessors, Caliber Funding, came
into existence when Caliber's parent company acquired legacy Bear
Stearns origination assets together with its production platform. The
business was rebranded to Caliber Funding LLC. Our parent
company also acquired the CIT Group's home lending and servicing
operation unit in 2008, along with $9 billion of mortgage and
consumer assets. This entity was rebranded Vericrest Financial. In
August 2013, Caliber Funding became Caliber Home Loans.
How the company has changed the mortgage industry: Two
major factors in Caliber Wholesale's vision are a sales-centric
corporate culture, combined with seeking new ideas from our
wholesale account executives and clients to improve our products
and services. The recent development and introduction of The
Ultimate Home Buying Experience enables Caliber to approve
applications with minimal
documentation, taking clients
from application to closing in as
little as 10 business days.
Broker associates deliver the
Ultimate Home Buying
Experience to their clients by
accessing a state-of-the-art
toolkit that incorporates the best
of today's lending technology.


http://www.TheMoneySource.com http://www.Forbes.com http://www.Entrepreneur.com http://www.AngelOakMS.com

Table of Contents for the Digital Edition of NMP - April 2017

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