Cherry Creek Mortgage has appointed retail lending veteran Ty Kern as Executive Managing Director. In his new role, Kern will be responsible for automation efforts aimed at streamlining the production and processing of loans. Kern joins Cherry Creek from Sun West Mortgage Co., where he was executive general manager of domestic production, helping close nearly $ 3 billion in loans last year. He has also held positions in the mortgage industry at Home Point Financial, Emery Financial and Citi.
The Denver-based lender also announced the expansion of its reverse mortgage division, bringing in experts Bruce Barnes and Jim Cory as general managers of the unit. The company intends to expand its presence in reverse mortgages in the production of retail, wholesale and closed loans. Barnes recently helped run EcoChain Systems, a company he founded, and has also held executive positions at Live Well Financial and Silvergate Bank, while Cory has held executive positions at companies such as Live Well Financial , Seattle Mortgage and Fannie Mae. He is also vice chairman of the board of directors of the National Reverse Mortgage Lenders Association.
“With the recent sharp increase in home price appreciation across the country and our ability to securitize and manage the reverse product, now is the opportune time to introduce reverse mortgages, which can be a valuable tool for seniors, ”said Rick Seehausen, president and chief operating officer. of the Cherry Creek Mortgage.