Kinecta Federal Credit Union Expands Mortgage Lending Operations Management Team

MANHATTAN BEACH, Calif., Aug. 27, 2012 /PRNewswire/ -- Kinecta Federal Credit Union has expanded its management team for mortgage lending operations as a part of its strategy for continued growth within its mortgage division.  Kinecta is involved in wholesale, correspondent and retail mortgage lending with major processing centers in El Segundo, Calif. and Chicago, Ill.

Mike McCarthy has been promoted to First Vice President, Retail Mortgage Origination and Operations. Previously Director of Retail Loan Production, he will now also direct all loan production from the El Segundo and Chicago centers.  Before joining Kinecta in 2011, McCarthy held executive management positions with Countrywide Financial, Ditech.com and GMAC.

Bruce Bingham has joined Kinecta as Vice President, Mortgage Lending Operations.  He will oversee operations for both processing centers and report to McCarthy.  Bingham comes to Kinecta with considerable operations management experience, having worked for Bank of America, Countrywide Home Loans, Washington Mutual, IndyMac Bank and Ohio Savings Bank.

Also joining Kinecta is Nancy Elander as Director of Mortgage Lending Operations.  Reporting to Bingham, she will be responsible for operations involving wholesale loan processing.  Elander comes to Kinecta from ING Direct, where she served as Head of Home Loan Operations, and previously she worked with First Federal Bank of California.

"We are very pleased with the caliber and breadth of experience these three executives bring to the table.  I look forward to their contributions as I am sure they will reinforce Kinecta's overall growth trajectory as the mortgage market continues to show signs of improvement," said Joseph Whitaker, Executive Vice President, Chief Operating Officer.

Kinecta Federal Credit Union is a direct lender operating in 39 states and provides a range of fixed and adjustable home loans for purchase or refinance.  It offers attractive loan products through agency, portfolio and FHA lending, in addition to correspondent lending and special loan programs offered in conjunction with leading mortgage insurance providers.

Kinecta Federal Credit Union is one of the nation's largest credit unions, with approximately $3.18 billion in assets and more than 238,000 members nationwide.  Headquartered in Manhattan Beach, Calif., Kinecta offers its members a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services, Apollo Insurance Services, and Kinecta Alternative Financial Solutions, dba Nix Financial.  Kinecta Federal Credit Union is a not-for-profit, financial cooperative that is solely owned by its members.  For more information about Kinecta's Wholesale Mortgage Lending division, visit www.LoanKinection.com.

Media Contact:
Marsha Mathias
Director, Corporate Communications
310.643.2625
[email protected]

SOURCE Kinecta Federal Credit Union