Foundation Financial Group promotes new CEO
Mortgage lender realigns executive management for 2011 expansion plans.
- Jacksonville, FL (1888PressRelease) January 25, 2011 - Preparing for its aggressive expansion in 2011, Foundation Financial Group promoted a new chief executive officer from within the mortgage lender's organization.
Effective Jan. 3, founding partner and former CEO Paul V. Scott takes over as chairman of the board for Foundation Financial Group, while current Executive Vice President Mark W. Boyer assumes his new role of CEO. Scott, along with Kris Williams, founded Foundation Financial Group and shaped it into one of the fastest-growing mortgage lenders in the U.S.
Instrumental in furthering Foundation Financial Group's success, Boyer joined the company six years ago and created the mortgage lender's current business production model. As executive vice president, Boyer oversaw a range of business transactions and helped keep Foundation Financial Group's portfolio performance in the top five percentile for all private investors. A delegated affiliate of the Federal Housing Administration, Boyer often acted as spokesman for all mortgage centers run by Foundation Financial Group, which is licensed in more than 30 states.
"I will be taking on a more strategic role as chairman in 2011," Scott said. "Mark is one of the smartest executives I've ever worked with. He is very prepared for this role and has technically operated in such capacity for several months as he helped grow our mortgage business."
Foundation Financial Group opens a new center in Rochester, N.Y., come January and plans further expansion out West with Illinois and Texas centers in the second quarter.
On Jan. 3, Foundation Financial Group began offering additional financial services, including insurance, wealth management and tax services, through affiliate companies under the Foundation Financial Group umbrella. The move will result in new job creation.
"I appreciate the opportunity that Paul, the board and Foundation Financial Group has given to me," Boyer said. "I'm ready for the new responsibilities and I look forward to launching our new affiliate financial products and companies, while we continue to grow Foundation Financial Group, the best mortgage company in America."
Foundation Financial Group has grown its originations by 14 percent in 2010 above 2009's record sales, while, according to MortgageStats.com, a mortgage industry-tracking source, the top 10 U.S. mortgage lenders are down a collective 26 percent in originations for the same period.
"I give our human resources and training department all of the credit for our record growth, Boyer said. "Foundation Financial Group continues to hire and train the right people for the right positions."
Foundation Financial Group is currently hiring for 270 full-time employees at its six major mortgage centers across America.
About Foundation Financial Group
Founded in Atlanta in 1998 as Homeowners Mortgage of America Inc., Foundation Financial Group is a full-service, residential mortgage lender and licensed in more than 30 states specializing in refinancing prime mortgage loans, as well as Federal Housing Administration and government-sponsored home loan programs. Providing professional fast-paced, customer-driven service, Foundation Financial Group closes its average loan in 16.72 calendar days, compared to the typical industry time span of about 45 business days. While Foundation Financial Group maintains its mortgage operations headquarters in Atlanta, it relocated its executive headquarters to Jacksonville, Fla. in 2004. Foundation Financial Group operates additional mortgage centers in Charlotte, N.C., Raleigh, N.C., Rochester, N.Y. and Savannah, Ga. Foundation Financial Group enjoys an industry-leading Federal Housing Administration compare ratio and an A+ rating from the Better Business Bureau, the highest accreditation the BBB gives. For more information, call 866-334-1001 or go to http://www.onlineffg.com.