TROY, Mich., Aug. 2, 2017 /PRNewswire/ -- Flagstar Bank has hired Kristy Fercho, previously senior vice president and customer delivery executive for Fannie Mae, to lead Flagstar's mortgage business. Flagstar originated $32 billion in home loans in 2016.
Fercho was with Fannie Mae for 15 years, starting as vice president of Human Resources responsible for the company's people strategy, talent acquisition, and cultural transformation. Since 2007, she has served in various customer management roles, overseeing the mortgage production of nearly 2,000 lenders. Most recently, she was responsible for the customer delivery strategy and business performance of all customers in the western U.S., delivering single-family home loans to the agency. Her experience in the industry is broad and deep, covering mortgage originations, servicing, fulfillment, risk management, and regulation.
"We couldn't be more pleased than to have Kristy on board to lead our mortgage business," said Alessandro DiNello, president and chief executive officer of Flagstar. "She brings a wealth of industry experience from Fannie Mae, a powerhouse in the mortgage industry and a leading source of financing for home lenders. And the timing couldn't be better with Flagstar primed to consolidate our position as the fifth largest bank originator in the country. Even better, she has worked with Flagstar since 2008 and knows our company well."
Flagstar Bancorp, Inc. (NYSE: FBC) is a $16.0 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 85 retail locations in 26 states, representing the combined retail branches of Flagstar and Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage loans, handling payments and record keeping for $87 billion of home loans representing 402,000 borrowers. For more information, please visit flagstar.com.
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SOURCE Flagstar Bank