Jun 01, 2022, 08:17 ET
AFR Welcomes New President, Continues to Build a Leadership Team Focused On Bringing More Families Home
PARSIPPANY, N.J., June 1, 2022 /PRNewswire/ -- American Financial Resources, Inc. (AFR), a national mortgage lender, is pleased to welcome back Timothy J. Yanoti as President and Chief Financial Officer, where he will be leading the charge for AFR Wholesale as well as the consumer-facing divisions of the company, eLEND and ManufacturedHome.loan. Having previously served as President of AFR from 2014 to 2018, Tim brings tremendous knowledge of the company, in addition to extensive experience across the mortgage industry with a proven track record of successful leadership.
Yanoti rejoins the AFR team coming from Lincoln Holdings, where he served as CFO and Partner for the mortgage title insurance business. Prior to this, he was Executive Vice President and Chief Growth Officer for Ocwen where he was responsible for the company's retail, correspondent, bulk, MSR purchase, and reverse businesses. Yanoti found great success in this role, growing annual originations to over $65B and annual profitability to over $150M.
"During my time away from AFR, I've watched the brand continue to grow as a successful leader in the mortgage industry, never wavering from its mission to bring more families home despite market changes," said Timothy Yanoti, President and Chief Financial Officer at American Financial Resources. "Now, just short of five years later, I'm looking forward to stepping back into this role to better serve our customers and partners moving forward, no matter what the future holds."
In addition to his most recent ventures, Yanoti has held several other leadership roles including Head of Global Securitization for GE Capital, Head of Capital Markets for GE Mortgage, Head of Securitization for Fannie, and Senior Vice President and Head of Capital Markets for National City Corporation, where he was also board member of NatCity Investments. This breadth of experience has only added to Yanoti's knowledge of the industry, which he will once again put into practice to ensure AFR continues to fill in the market's gaps and support the underserved by offering a variety of financing options for eligible borrowers.
"We are so excited to welcome back Tim to support AFR's bright future, knowing that he embodies everything we stand for and has a proven track record of success to push us that extra mile," said Richard Dubnoff, CEO of American Financial Resources, Inc. "As someone who has been an AFR partner for almost a decade, we're confident Tim will jump right back into this role and further our growth as we continue to expand our product offerings."
AFR's mission has always been to help the underserved whether it be first time home buyers, veterans, or families without the budget for a hefty down payment. The team continues to introduce new products based on market demand, including eCASH Home Financing, Manufactured Home Financing, VA Renovation, AFR Advantage Down Payment-Assistance Program, One-Time Close Construction-To-Permanent FHA, VA, and USDA loans. With Yanoti back at the helm of the company, AFR's variety of financing options for eligible borrowers will only continue to expand.
For additional information about AFR and its current product offerings, please visit https://www.afrcorp.com/.
American Financial Resources, Inc. (AFR) offers a comprehensive array of residential mortgage products to meet a variety of financing needs through their Wholesale Division (AFR Wholesale) and Consumer Direct Divisions (eLEND and ManufacturedHome.loan). AFR is a leading FHA 203(k) lender for sponsored originations and an innovator in construction and renovation lending. AFR utilizes the latest technology and delivers educational resources to correspondent lenders, mortgage brokers, and loan originators, as well as to consumers. American Financial Resources, Inc. is an Equal Housing Lender and Equal Opportunity Employer. Lender NMLS 2826 at www.nmlsconsumeraccess.org. For more information, visit www.afrcorp.com.
SOURCE American Financial Resources, Inc.
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