Current head of correspondent division Michael Lima to refocus on whole loan trading
ADDISON, Texas /Massachusetts Newswire – National News/ — Click n’ Close (CNC), a multi-state mortgage lender, announced today that Kim Schenck has joined its Correspondent Lending Sales team as Correspondent Manager. In her new role, Schenck will lead the expansion of the company’s proprietary down payment assistance (DPA) program, which plays a key role in helping more borrowers achieve homeownership.
“Kim’s extensive experience and proven ability to drive results make her an ideal addition to our team,” said Jeff Bode, owner and CEO of Click n’ Close. “Her focus on our DPA program will help us continue delivering innovative, affordable solutions to our partners and borrowers.”
Schenck brings more than 30 years of experience in mortgage banking, with a strong background in correspondent lending, loan acquisitions and secondary marketing. Her career includes leadership roles at Essex Mortgage, Freedom Mortgage, Bank of America, Greenwich Capital Financial and Sandia Mortgage Corporation, where she built and managed high-performing sales teams, drove strategic growth and developed pricing and rate strategies for large-scale lending operations.
“I’ve had the pleasure of working with Jeff in previous roles and have always admired his sharp insight and shared commitment to empowering both lenders and homebuyers,” said Schenck. “I’m honored to join such a forward-thinking organization and proud to be part of a winning team.”
As part of this transition, Click n’ Close’s Managing Director of Correspondent Lending Michael Lima will shift his focus back to the company’s whole loan trading business, a division he was initially hired to lead.
Lima first joined Click n’ Close – then operating as Mid America Mortgage – shortly after the implementation of the 2016 TILA-RESPA Integrated Disclosure (TRID) rule. Mid America recognized an opportunity as lenders across the country struggled with compliance and were forced to sell affected loans at steep discounts on the scratch-and-dent market. The company entered the space to purchase those loans, resolve the underlying issues and reintroduce them to the market-effectively bringing liquidity where it was desperately needed. Lima was brought in specifically to lead this initiative, leveraging his expertise in capital markets and risk assessment to build a sustainable, scalable secondary market strategy.
Now, as the mortgage industry faces another period of consolidation and economic uncertainty, Click n’ Close is redoubling its commitment to the whole loan trading space, offering a stable, long-term source of liquidity for lenders navigating an evolving landscape. Amid a post-COVID environment where many lenders have reported financial losses, Click n’ Close has remained financially strong and profitable-a track record the company sees as critical to its value proposition moving forward.
“Click n’ Close has always leaned into market disruptions as an opportunity to lead with innovation and stability,” said Lima. “My returned focus to the whole loan trading space will help strengthen the liquidity and reliability our lending partners count on. Our capital markets strategy has always been about fixing what others overlook-and doing it profitably, sustainably and at scale.”
About Click n’ Close, Inc.
Click n’ Close, Inc., formerly known as Mid America Mortgage, is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation’s leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click n’ Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.
Combining this culture of innovation with a risk management mindset enables Click n’ Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click n’ Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click n’ Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.
Learn more at https://www.clicknclose.com/.
Learn More: https://www.clicknclose.com/
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NEWS SOURCE: Click n’ Close Inc.. Story was sourced from a press release issued by Send2Press® and used with permission. View the original story at: https://www.send2press.com/wire/click-n-close-expands-correspondent-lending-sales-team-with-mortgage-industry-veteran-kim-schenck/
