King To Run Platinum’s New Division


Jane C. King, the Queen of renovation lending, will head up Platinum Home Mortgage Corp.’s new correspondent lending division as division vice president.

Like what you see? Click here to sign up for a National Mortgage News free trial and daily newsletter to get the latest feature stories, news headlines, data, and in-depth analysis on the issues impacting the mortgage industry.

King brings to Platinum more than three decades experience in the ins and out of rehab mortgages, most recently at Freedom Mortgage, where she was vice president in the Freedom Renovation division. Joining her from Freedom will be Michael Young as assistant vice president.

Platinum’s new correspondent division will specialize in both government and conventional renovation financing programs with a special emphasis on the FHA 203(k) and FHA 203(k) streamlined programs. It also will offer Fannie Mae’s HomePath package along with a more traditional product menu.

Senior Vice President Lee Gross said the new division intends to take advantage of the shortage of expertise and experience in the renovation sector. “This is an opportunity for Platinum Home Mortgage to fill a void by offering unique mortgage products,” he said.

The Rolling Meadows, Ill., company is currently in an aggressive growth mode nationwide. It is licensed in 25 states, holds more than 100 individual mortgage originator licenses and has offices in California, Florida, Idaho, Illinois, Minnesota, Nevada, New York and North Carolina.

Daily Briefing | Monday, September 12, 2011

  • B of A Promises $5B of Costs Savings, May Consider BK for CFC

    Bank of America Corp. chief executive Brian Moynihan promised investors he would save $5 billion in costs by 2013, but was otherwise scarce on details during a much-anticipated speech on Monday.

  • MBA: CMBS Loans Hit New Delinquency Peak

    Roughly 9.43% of commercial real estate loans – including multifamily product — that have been securitized are now 30-days or more late, a record, according to new figures compiled by the Mortgage Bankers Association.

  • FHA Volume Slow in July but Outstandings Surpass $1 Trillion

    Demand for Federal Housing Administration single-family loans slowed in July with residential lenders originating just $16 billion of government-backed product.

  • Chicago Tells Mortgage Servicers, Trustees to Maintain Vacant Homes

    Chicago’s City Council published an ordinance late last week that would require banks, mortgage servicers and institutional investors to maintain vacant properties before the homes have gone through foreclosure.

  • Radian Sees Improvement in New Insurance, Delinquencies

    Radian Guaranty Inc., Philadelphia, reported a decline of roughly 600 loans in its delinquent loan inventory for August. But new notices of problem loans (late payers) outpaced cures by about 1,600 loans.

  • August Buyers Boost Washington, Baltimore Metro Markets

    The Washington and Baltimore markets closed out the summer home buying season with their best August in years, according to a pending sales index devised by the local multiple listing service.

  • Wingspan Previews Tech, Launches Insurance Unit

    Specialty mortgage servicer Wingspan Portfolio Advisors says it is further expanding into new residential-related sectors, including technology and insurance.

  • More Cranes Roosting in South Florida

    Last week, we reported in this space that a construction crane, the state bird of Florida, had landed in the Miami area. The crane hasn’t been seen in these parts in several years, and some were saying it should be added to the endangered species list, if not named as extinct. Now, it appears a whole flock is returning.

  • A Mortgage Banker’s Memories of September 11

    As the United States commemorates the 10th anniversary of the terrorist attack, the financial community, among many others, is taking time to reflect on those lost. We should also remember how difficult it must be for their surviving families.

Leave a Reply