Posted by Maverick Funding on Thu, Apr 26, 2012
Mike brings a wealth of experience to Maverick Funding. Having a broad background in the Mortgage Industry, he has demonstrated the ability to apply best-practices to a variety of banking operations.
A results-driven and oriented banking executive with a proven history of consistent advancement, Mike has held a variety of positions in the industry from origination to CEO and President of a mortgage banking institution.
“With the rapid growth of Maverick Funding Corp. and the prospect of expanding in the future, we feel it is important to create an infrastructure that will support our strategic initiative with the establishment of an additional executive position, Vice President of Business Development.” We are pleased to have him join Maverick Funding Corp, stated Ralph Vitiello, CEO.
As Business Development Leader, Mike Brennan’s duties will entail key development, processes and procedures for Maverick. His duties will also include new business development within the Mortgage and Financial Services sectors.
“We are excited to have Mike as part of the Maverick team. His vast knowledge in this field of the Mortgage Industry will launch Maverick to a new level of business,” stated Mike Petruccelli, President.
Welcome aboard Mike Brennan!
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Fri, Mar 02, 2012
Maverick Funding Corporation is pleased to announce that its’ Rhode Island branch is partnering with Exit Realty Rhode Island to raise money during the entire month of March 2012 to the Community Preparatory School in Rhode Island.
Community Prep gives motivated students in grades 3-8 the opportunity to reach for their dreams, regardless of family income. Offering all of the benefits of an independent school – small classes, challenging academics, and a positive, nurturing environment – Community Prep also combines the cultural and economic diversity of a public school.
Throughout the month of March, the Rhode Island branch of Maverick Funding Corp., together with Exit Realty Rhode Island, will donate $2.00 for up to 500 new “likes” that Exit Realty Rhode Island’s Facebook Page receives to the Community Preparatory School, for a total donation of $1,000.00.
Zachary Levesque, Maverick’s Rhode Island branch manager, is really excited! He has been invited to visit the school to see first-hand its uniqueness, and he looks forward to getting to know the school and the students!
Maverick Funding Corp. has always been community-minded and involved from a philanthropic perspective. It is proud to host holiday events for those less fortunate, and just last December (2010), it donated $5000 to St. Francis of Assisi. This activity is another opportunity for Maverick to support the communities in which its’ employees live and work.
So please -- SPREAD THE WORD! The more “likes” on Exit Realty Rhode Island’s Facebook page, the more money that will go to Community Prep in Rhode Island!
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Tue, Feb 07, 2012
Just thought we'd share this with you as well... The link below connects to an article in Reverse Mortgage Daily regarding our expansion of our Reverse Mortgage Network division.
Read the article HERE.
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Mon, Feb 06, 2012
FOR IMMEDIATE RELEASE
Former Great Oak Funding CEO Joshua Shein to join Maverick, launch new Maryland branch of RMNParsippany, NJ. February 6, 2012. (PR Web). Maverick Funding Corp. today announced that 40 reverse mortgage loan officers from Baltimore-based Great Oak Funding, including former CEO Joshua Shein, are joining its subsidiary, Reverse Mortgage Network, headquartered in Parsippany, New Jersey.
Shein will launch and manage a Maryland branch of Reverse Mortgage Network. The former Great Oak employees joining Reverse Mortgage Network over the next six months will bring the total number of employees to 62. Maverick anticipates that this team, new to Reverse Mortgage Network, will be fully operational by mid February, 2012. Ralph Vitiello, Maverick Funding Corp. CEO, estimates that Reverse Mortgage Network will, in the near future, become one of the top 10 largest reverse mortgage lenders in the country.
“Phase One of our Reverse Mortgage business officially began in October 2011,” said Vitiello. “Bringing on the reverse mortgage loan officers from Great Oak is part of our overall strategic plan to become a major player in the reverse mortgage space. Reverse mortgages are an important option for seniors, and we are delighted to be in a position to provide them to more people in more locations throughout the country.”
Dino Guadagnino, Vice President of Reverse Mortgage Network, agrees. “The additional officers, and branch offices, will provide a significantly larger footprint for Reverse Mortgage Network, catapulting the company into a whole new level. We welcome our new colleagues, and are excited about what the future has to hold.”
Shein is also pleased with his new role within Reverse Mortgage Network. “There is tremendous opportunity with Maverick Funding’s Reverse Mortgage Network,” he said. “The company is experiencing rapid growth, the people are terrific to work with, and I’m really looking forward to being part of this group as we move forward providing diversified offerings to seniors in the United States who wish to age in place.”
Maverick Funding Corp. is also introducing a new Southeast Wholesale lending office, which will cover the southeast as well as western states. Patrick Stewart has been named Southeast Wholesale Lending Manager, and his five-person team will be in place in the near future.
“We are incredibly energized by the growth that both Maverick Funding and Reverse Mortgage Network are experiencing,” said Mike Petruccelli, President of Maverick Funding Corp. “We’re confident that, by providing the right products and outstanding customer service, we will continue to expand the two organizations, their geographic availability, and the offerings we can make available to our clients.”
About Maverick Funding Corp.Maverick Funding Corp. (www.MaverickFunding.com) is a licensed mortgage lender in New Jersey, Pennsylvania, Alabama, California, Connecticut, Delaware, Florida, Indiana, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, North Carolina, Ohio, Oregon, Rhode Island, Tennessee, Vermont, Virginia, Texas, Michigan, Kentucky and Washington. Our principal business activity is providing first mortgages to qualified homebuyers. We originate loans through the traditional retail channel with our own loan officers, and via a wholesale channel in which our account executives maintain relationships with multiple brokers who refer funding business to us. Our headquarters are in Parsippany, New Jersey. Our privately held company began operation after incorporating in New Jersey in April 2007. In these four-plus years --in extremely challenging economic times—Maverick Funding Corp. has grown from a small staff of approximately 20 in 2007 to an anticipated 170 employees by mid-2012.
Reverse Mortgage Network, a Maverick Funding company, is a direct-to-consumer reverse mortgage lender with a commitment to giving each qualifying senior the opportunity to take advantage of a reverse mortgage. With highly trained loan officers dedicated solely to reverse mortgages, Reverse Mortgage Network is committed to simplifying the reverse mortgage process, providing its customers with speedy service and best-practice attention. Reverse Mortgage Network is a FHA and Fannie-Mae approved lender. Reverse and Relax.
# # #
Contact:
Debbie Kaufmann
The Collingwood Group
202.626.9724
dkaufmann@collingwoodllc.comMaverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Mon, Dec 05, 2011
PRESS RELEASE - FOR IMMEDIATE RELEASE
Parsippany, NJ. December 5, 2011. Maverick Funding Corp. is pleased to announce its plans to fully sponsor a delicious meal for homeless families in Providence, Rhode Island. Approximately 20 people – pre-selected families with the greatest needs – will be treated to an intimate holiday dinner consisting of turkey with all the trimmings. Each guest will also receive a small gift from Maverick Funding. The event will be held on December 16, 2011, at the Crossroads in Providence, and Maverick Funding employees will prepare and serve the meal.
“Our team welcomes the opportunity to prepare and provide this dinner to those people in our community who are less fortunate than we are,” said Angel Purvis, Maverick Funding Corp.’s New England Director of Retail Operations, whose group has volunteered for this event. “The holiday season is a wonderful time to share, and to help others. We’re delighted to take part in this evening and celebrate the season with these members of our community.”
Ralph Vitiello, Chief Executive Officer of Maverick Funding Corp., is pleased to help his Rhode Island staff implement this event by donating the dollars for the dinner and the gifts. “The holiday season is upon us, and what better way to express our gratitude for all of our many blessings, than to invite our neighbors, particularly those who are without a home of their own in which to celebrate the holiday, enjoy an evening of fine food, fun, and friendship.”
About Crossroads Rhode Island
Crossroads Rhode Island, founded in 1894 as Travelers Aid, is now the leading homeless service organization in Rhode Island, providing 24-hour assistance seven days a week to homeless Rhode Islanders ranging from infants to octogenarians, and from adults with only a 6th grade education to those with Ph.D’s.
With the help of compassionate donors, Crossroads Rhode Island has become the largest homeless services organization in Rhode Island. Much more than a place for the homeless to sleep, its programs can help find solutions to both immediate and long-term needs that will allow individuals and families to become independent. Crossroads is a private, non-profit organization that relies on the generosity of its donors and supporters to offer the continuum of care it so proudly provides.
About Maverick Funding Corp.
Maverick Funding Corp. (www.MaverickFunding.com) is a licensed mortgage lender in New Jersey, Pennsylvania, Alabama, California, Connecticut, Delaware, Florida, Indiana, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, North Carolina, Ohio, Oregon, Rhode Island, Tennessee, Vermont, Virginia, and Washington. Its principal business activity is providing first mortgages to qualified homebuyers. Maverick Funding Corp. originates loans through the traditional retail channel with its own loan officers, and via a wholesale channel in which its account executives maintain relationships with multiple brokers who refer funding business to Maverick Funding Corp. Headquartered in Parsippany, New Jersey, the privately held company began operation after incorporating in New Jersey in April 2007. Since then --in extremely challenging economic times—Maverick Funding Corp. has grown from a small staff of approximately 20 in 2007 to more than 114 employees in 2011.
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Wed, Nov 30, 2011
Maverick Funding is committed to helping those less fortunate, and we are pleased to announce we are an official Toys for Tots drop-off location!
We are collecting toys at our Rhode Island branch until December 23rd:
Maverick Funding Corp.
300 Centerville Road
Suite 204 West, 2nd Floor
Warwick, RI 02886
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Mon, Nov 28, 2011
We've been busy this month at Maverick Funding; not only with our normal daily work activities, but with our efforts to give back to our community and those less fortunate than so many of us.
First, on November 17, Maverick Funding Corp.’s Warwick, Rhode Island branch hosted a full Thanksgiving Dinner, complete with turkey, stuffing, and all the traditional Thanksgiving fixings, for the Boys & Girls Club of Warwick. More than 100 boys and girls and their parents participated in this event. In spite of the massive amounts of food, many of the children went back for seconds, thirds, and even fourth helpings, and by the end of the evening, nothing was left! Warwick Mayor Scott Avedesian attended, and a wonderful evening was had by all.
Our thanks to Millonzi’s, a restaurant which recently opened on Curson Street in West Warwick, for donating an awesome, delicious Thanksgiving dinner.
Then, to continue in the spirit of Thanksgiving, Maverick Funding’s corporate office in Parsippany, New Jersey held a food drive for the Interfaith Food Pantry, which serves Morris County, to help families who might otherwise go without food this holiday season. Maverick Funding employees collected canned goods, bread, cake and muffin mixes, juices, coffee, and tea, canned foods, and other non-perishable food items. Donations were accepted in Maverick Funding lobby, for weeks leading up to November 18, and on November 18th, perishable items were also accepted. 596 pounds of food was collected and given to the Interfaith Food Pantry, which distributed almost 730,000 pounds of food to low-income working families and senior citizens living on fixed incomes, housebound seniors, and disabled persons for Thanksgiving in 2010.
Maverick Funding Corp. and its employees recognize that, while the counties in which we live and work are consistently ranked among some of the wealthiest counties in the country, many of our neighbors in our cities, towns and neighboring communities grapple with the disparity between low wages and the escalating costs of living, including food. Thousands of families rely on donations and charitable activities for supplemental food year round.
“It gives us great pleasure to provide these Thanksgiving offerings to these important organizations, and to our less fortunate neighbors who are in the communities in which we live and work,” said Ralph Vitiello, Chief Executive Officer of Maverick Funding Corp. “We believe it helps to kick off the holiday season in a happy, positive way. What better way for us to give thanks for all that we have.”
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Tue, Oct 25, 2011
A recent article featured in Origination News explored Why It Takes So Long To Close Loans, and we can’t help but ask the same question. Reports of mortgage refinances taking four months or more have us scratching our heads!
Maverick Funding, “The Big Bank Alternative”, continues to please homeowners with fast, hassle-free closings.
“We have closed a refinance mortgage in as little as 10 days, which is the minimum amount of days possible when you consider the 7-day disclosure period and 3-day appraisal period – that is about as fast as you can service a borrower”, commented Kevin Floersch, Underwriting Manager for Maverick Funding. “In 2010 we averaged 23 days to close a refinance mortgage,” he added.
To us, the speed at which we close the loan is as important as high quality underwriting. “Our underwriting operations are very thorough, which helps ensure we write high-quality loans. Our FHA compare ratio is 71%, which is phenomenal,” said Floersch. An FHA compare ratio is the percentage of a company's default rate compared to the local market area. A score of over 150 is considered very poor; 175-200 will get a company on HUD’s watch list; and over 200 will likely result in a company losing their ability to close FHA loans. A ratio of 71% shows the meticulous and watchful eye of Maverick’s underwriting staff.
If you’re in the market for a home mortgage or refinance, contact Maverick Funding today. We will be happy to help you take advantage of today’s current low interest rates. You may become one of those happy homeowners who can have their mortgage or mortgage refinance close quickly and easily with Maverick Funding Corp.
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Tue, Oct 11, 2011
Big Bank Alternative Initiates Opportunity to Serve Seniors Over 62 Years Old
With Reverse Mortgage Product
Parsippany, NJ. October 11, 2011 (PRWeb) – Maverick Funding Corp. is pleased to announce the establishment of a new subsidiary, Reverse Mortgage Network (www.reverseandrelax.com). Reverse Mortgage Network, which opened its doors on September 1, 2011, specializes in helping senior citizens over the age of 62 years old understand the concept of reverse mortgages, identify whether the product is right – or not – for them, help them make appropriate and intelligent decisions, and if is determined that it will benefit them, assist them in obtaining a reverse mortgage on their home.
A reverse mortgage is a unique type of loan that enables homeowners to convert some of the equity from their home into accessible, liquid cash, while still residing in their home and retaining its ownership. Established in 1989 by the Federal Housing Administration (FHA) and backed by the U.S. Department of Housing & Urban Development (HUD), reverse mortgage loans are not new, but over the years since they became available through FHA, they have encountered trends that have enabled them to evolve into what they are today. And what they are today can mean a tremendous difference in the lives of America’s senior citizens.
Reverse mortgage loans are available only to senior citizens over the age of 62. The most popular reverse mortgage is the Home Equity Conversion Mortgage (HECM), which is insured by FHA. Eligible seniors use a part of their home equity as collateral, and must occupy the home as their primary residence. They must own the home, or have a remaining mortgage balance that can be paid off by the reverse mortgage. For most reverse mortgages, no income, employment or credit requirements are necessary to obtain the loan because at this point in time there are no credit overlays on reverse mortgages; if the borrowers have sufficient equity in their home and can pay their taxes and insurance for the rest of their life, they are eligible. And even if they don’t have the up-front cash to pay their taxes and insurance, the tax-free money they receive from the reverse mortgage will enable them to be able to pay those expenses.
To staff Reverse Mortgage Network, Maverick Funding Corp. has brought on 22 former Wells Fargo reverse mortgage loan officers who were employed by Wells Fargo prior to Wells’ decision to divest themselves of reverse mortgages. These highly trained reverse mortgage professionals have chosen to continue to utilize their extensive knowledge to ensure reverse mortgage products will remain available to seniors through Reverse Mortgage Network, which is headquartered in Parsippany, NJ with offices in Redbank, NJ, and which is licensed to operate in 22 states throughout the United States.
“We are excited about the establishment of Reverse Mortgage Network,” said Ralph Vitiello, Chief Executive Officer of Maverick Funding Corp. “We see this as an opportunity to serve a segment of the population that in many cases is underserved, particularly in today’s difficult economic climate. Reverse mortgages, for the appropriate senior citizens, can help them remain in their homes for their remaining years – a condition known as “aging in place” -- and do things they couldn’t otherwise do because of their lack of disposable income, such as live more comfortably, purchase long-term care insurance, or simply not have to worry about paying their bills.”
Dino Guadagnino, Vice President of Reverse Mortgage Network, agrees. “Our team has worked with hundreds of seniors to help them obtain reverse mortgages on their homes. We have never seen a reverse mortgage where the borrower did not benefit tremendously from it.”
“Alan Sotnick of Reverse Mortgage Network was extremely helpful in explaining the process,” said Deena Borden, who recently obtained a reverse mortgage loan through the company. “It gave me peace of mind knowing that I had complete faith in him and he was providing me with service above and beyond what I had expected. The money changed my life and I was able to start doing things that I never thought I would be able to do again.”
About Maverick Funding Corp.
Maverick Funding Corp. (www.MaverickFunding.com) is a licensed mortgage lender in New Jersey, Pennsylvania, Alabama, California, Connecticut, Delaware, Florida, Indiana, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, North Carolina, Ohio, Oregon, Rhode Island, Tennessee, Vermont, Virginia, and Washington. Our principal business activity is providing first mortgages to qualified homebuyers. We originate loans through the traditional retail channel with our own loan officers, and via a wholesale channel in which our account executives maintain relationships with multiple brokers who refer funding business to us. Our headquarters are in Parsippany, New Jersey. Our privately held company began operation after incorporating in New Jersey in April 2007. In these three-plus years --in extremely challenging economic times—Maverick Funding Corp. has grown from a small staff of approximately 20 in 2007 to more than 114 employees in 2011.
About Reverse Mortgage Network
Reverse Mortgage Network, a Maverick Funding company, is a direct-to-consumer reverse mortgage lender with a commitment to giving each qualifying senior the opportunity to take advantage of a reverse mortgage. With highly trained loan officers dedicated solely to reverse mortgages, Reverse Mortgage Network is committed to simplifying the reverse mortgage process, providing its customers with speedy service and best-practice attention. Reverse Mortgage Network is a FHA and Fannie-Mae approved lender. Reverse and Relax.
# # #
Contact:
Debbie Kaufmann
The Collingwood Group
dkaufmann@collingwoodllc.com
202.626.9724
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.
Posted by Maverick Funding on Wed, Oct 05, 2011
"Last week Maverick Funding Corp. held a special event to recognize a member of the Maverick family that has demonstrated, by word and action, a true sense of dedication and exemplary work ethic. The first annual Service Quality Award is being initiated to empower everyone at Maverick Funding to say “thank you” and celebrate success through our peers. It is an excellent way to promote recognition and express appreciation for a 'job well done'. But even more than that, it is the recognition of the high intentions and sincere efforts of a co-worker who contributes to a positive work environment. Maverick thinks the most meaningful praise a person can receive is when their peers appreciate a colleague for what they do well.
The person who is the first recipient of Service Quality Award was the overwhelming selection of the staff who voted. They see this person as someone who always goes beyond the call of duty and is constantly ready to serve others. No drama in this person work ethic, a person who is focused and gets the job done with a smile and a positive attitude.
The 2011 recipient of Service quality Award is Tatiany Baiz. Congratulations Tatiany.
A few of the comments responsible in nominating Tatiany:
“Tatiany is always cheerful and always has a pleasant word to say no matter the circumstances."
“Tatiany is a hard worker…gets to work early and strives to get it right.”
“Tatiany is probably the kindest hearted individual and a pleasure to work with…someone who makes the work place an easy going environment”
“Tatiany exemplifies the true meaning of a dedicated employee with a contagiously positive attitude …someone who gets the job done and always with a smile.”
“Tatiany is dedicated, hardworking and persistent…”
“Tatiany is a real “Maverick” and worthy of the Service Quality Award.”*
*written by Mr. Frank Petruccelli, Human Resources Officer
Congratulations Tatiany!
Maverick Funding Corp. is a
direct mortgage lender headquartered in Parsippany, New Jersey.