Jim Linnane Joins Flagstar Bank as Head of Distributed Retail Mortgage Division
Flagstar Bank has appointed Jim Linnane as president of its distributed retail mortgage division, where he will oversee strategy, profitability, sales, and operations.
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Rhea-AI Summary
Flagstar Bank has appointed Jim Linnane as president of its distributed retail mortgage division, where he will oversee strategy, profitability, sales, and operations. Linnane, an industry veteran with extensive experience in mortgage origination and sales, previously served as retail president for Stearns Lending and led 2,000 loan officers at Wells Fargo, achieving $30 billion in production volume. Flagstar is the nation's 6th largest bank mortgage originator and manages a diverse portfolio, including $291 billion in loans for over 1.2 million borrowers.
Positive
- Appointment of Jim Linnane as president of the distributed retail mortgage division to drive growth and profitability.
- Linnane's extensive experience in mortgage operations positions Flagstar for potential market advantages.
- Flagstar is the 6th largest mortgage originator in the U.S., indicating strong market presence.
Negative
- None.
Details
News Market Reaction – FBC
The recorded move for FBC in the trading session of this news was -2.43%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
TROY, Mich., April 21, 2022 /PRNewswire/ -- Flagstar Bank has named Jim Linnane president of Flagstar's distributed retail mortgage division. In this role, he is responsible for strategy, profitability, sales, growth, recruitment and operations of Flagstar's distributed retail mortgage business.
"Jim is an industry veteran who has extensive experience running distributed retail operations, both in a bank and non-bank environment," said Lee Smith, president of Mortgage for Flagstar. "He's a results-oriented team-builder with a demonstrated ability to grow people and organizations. We're excited to have him on board and look for positive developments with Jim at the helm of Flagstar's distributed retail operation."
His experience in the business is broad and deep, including mortgage origination, marketing, underwriting, construction lending, home equity products and wholesale financing. Flagstar is the nation's 6th largest bank mortgage originator.
Prior to Flagstar, Linnane served as retail president for Stearns Lending. Earlier in his career, he was director of national sales at Guaranteed Rate. He started in the business at Wells Fargo, where he spent 15 years, ultimately leading 2,000 loan officers to
About Flagstar
Flagstar Bancorp, Inc. (NYSE: FBC) is a
For more information contact:
Susan Bergesen
Flagstar Bank
(248) 312-6237
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SOURCE Flagstar Bancorp, Inc.
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