Shore Financial Appoints CIO, Promotes CTO

Mortgage & Real Estate

The parent company of United Wholesale Mortgage appointed Paul Orlando as its chief information officer and Bill Van Nort as chief technology officer.

Orlando comes to Birmingham, Mich.-based Shore Financial Services from Flagstar Bank, based in nearby Troy, Mich., where he was a senior vice president. Prior to that, Orlando was an assistant vice president at Standard Federal Bank, another financial institution based in the greater Detroit area.

Van Nort was previously CTO of United Wholesale Mortgage. In the newly created CTO position at Shore Financial Services, he will report to Orlando. Prior to joining Shore Financial, Van Nort spent 10 years at Comerica Bank, most recently as vice president of engineering technology services.

The new appointments come as Shore Financial Services is working to expand both the United Wholesale Mortgage business and its retail division, Shore Mortgage. United Wholesale Mortgage specializes in FHA wholesale lending and its website lets brokers take mortgage applications online and from tablet devices, as well as providing borrowers the technology to e-sign their disclosure documents.

As part of the company’s aggressive paperless origination strategy, United Wholesale Mortgage only accepts electronic loan files from brokers. During underwriting, the paperless process provides automatic updates that allow brokers to monitor progress online.

“It’s exciting to join a company that is committed to industry leadership, and that recognizes the value of leading-edge technology solutions in building a competitive advantage,” Orlando said in a company release.

Orlando has spent more than two decades in IT and financial operations. Flagstar regularly makes Mortgage Technology’s Top Tech Savvy Lenders list, as does United Wholesale Mortgage. Both lenders made the 2011 list.

Daily Briefing | Friday, December 23, 2011

  • Freddie Has Strongest Purchase Month Since February

    Freddie Mac purchased $38.1 billion of mortgages in November, a 12% gain from the month prior, and its best acquisition month since February, according to new figures released by the GSE.

  • Fitch Questions Ocwen’s MA Moves in MSRs

    Fitch Ratings this week downgraded its servicer rating on Ocwen Financial Corp., Atlanta, questioning its rapid expansion in servicing contracts and voicing doubts about its heavy use of offshore workers.

  • New Home Sales Continue to Show Signs of Hope

    New home sales rose in November for the third consecutive month to the highest level since April, the Census Bureau reported Friday.

  • MetLife Partnership Slows KB Home Sales

    KB Home’s midyear decision to transition its mortgage marketing agreement to a new lender caused significant delays in the Los Angeles-based homebuilder’s ability to close home sales in the last quarter of its fiscal year.

  • With Payroll Tax Deal Done, Here Comes the G-Fee Hike

    Consumers soon will be paying more for government-backed mortgages now that the House and Senate have reached a deal to extend a payroll tax break for two months.

  • Five Trade Groups Tell FHFA: No Fee for Service

    Five industry trade groups have sent a new letter to Federal Housing Finance Agency director Edward DeMarco, telling him – more or less – that they believe the ‘fee for service’ concept would be a disaster for both the industry and consumers.

  • EverBank Kicking the Tires at MetLife Home Loans?

    Add the name of EverBank Financial to the list of bidders that have been kicking the tires at MetLife Home Loans, Irving, Texas.

  • Former MT, NMN Reviewer Mary Dum Dies

    Mary Joine Dum, a leading expert on the use of computers in real estate appraisal and a former product reviewer for National Mortgage News and Mortgage Technology magazine, died on Dec. 15 in Brentwood, California. She was 80.

  • Multifamily Construction Shines in California, SF Not So Much

    Housing production in California was up in November for the fourth consecutive month. But builders in the Golden State are still on track to start the third lowest number of units on record in 2011.

  • Houston Area Has Sixth Straight Sales Gain

    Existing home sales were up in November for the sixth straight month in the huge Houston area market.

Leave a Reply