Lender announces commitment to alternative space

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One trust company is reaffirming its dedication to supporting mortgage brokers with two executive appointments, among them a leading player from another lender.

“I have a very strong understanding of what B-20 did and I can leverage that knowledge to better serve brokers in the growing alternative space,” Gino Tieri, who has been appointed vice president of sales and marketing for Equity Financial Trust told MortgageBrokerNews.ca. “I view Equity as becoming one of the leaders in that space over time.”

Tieri brings with him twenty years of sales and marketing experience.

“After completion of his undergraduate degree in consumer marketing at the University of Guelph in 1992, Gino commenced a long and successful career in sales and marketing with time spent in a diverse set of industries including technology, telecommunications, marketing services, and most recently financial services,” an official release from Equity Financial states. “Gino broke into the mortgage business in 2010 joining MCAP as Vice President National Sales leading origination sales and marketing efforts in the mortgage broker channel. Under Gino's leadership, mortgage broker originations grew from $3.5 billion to over $5 billion annually.”

Along with Tieri, Lorraine Sato was appointed vice president of mortgage operations.

“Lorraine has been a leader in the residential mortgage industry for over 35 years. Lorraine was part of the team that lead CIBC/FirstLine in the 1990’s and was instrumental in leading its growth during those years and in 1999 started the Alt A residential lending department,” the release states. “In 2002 Lorraine left FirstLine after 13 years to start the Canadian underwriting division of GMAC’s Alt A residential lending, developing all lending products, guidelines, policies and procedures and overseeing over $2B in fundings annually over 3 years.”
  • Angela Wong-Liao - Invis Inc on 2014-07-28 10:59:10 AM

    In my opinion, alternative financing will be the future in the mortgage brokerage industry as the underwriting guidelines are tightening under Bill 20. Thank you Equity Financial Trust for leading the way.

  • Hensey Khan @Hensey Financial on 2014-07-28 11:13:58 PM

    It is about time that self employed poeple, small business owners get some respect. Every one say , small businesses are the back bone of our economy, yet there back bones are being broken by pushing them to private mortgage lenders.

  • Alternative Lenders Needed on 2014-08-01 6:39:35 PM

    When are they re-starting? what happened for the last year?
    We need Alternative Lenders but long term players or professional un-regulated alternatives.

  • rhéau séguin on 2014-08-04 9:14:43 AM

    if a client as a first mortgage with a bank, the term is n0t due before 18 months and he needs funds, how is it possible to be of any help to this client, AND AT WHAT RATE, This is OK to talk about equity loans, but how do we help this client at a fare rate, not 12% or 18%.total loans of 75% to value.

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