Dave Boberg may want to consider taking out a time share office at HUD in 1994. If the secondary market officer for Norwest Mortgage, Des Moines, Iowa, expands Norwest's business in 1994 as much as it did in 1993, it may save him in the long distance calls he constantly makes to Ginnie.
Of the $30 billion in originations Norwest has generated in 1993, $14.6 billion have been in Ginnies, up from $3.1 billion in 1992. And they could easily top $20 billion in 1994 - and provide a substantial portion of Ginnie's upcoming Remic program by themselves.
Countrywide Funding also warrants watching in 1994. With its ever-innovative Chief Operating Officer Angelo Mozilo, who has shown a penchant for savvy moves, the lender will boldly step into the mutual fund world as a broker for Countrywide's customers. But Countrywide's more visible efforts will be conducted in affordable housing, where its House America program, complete with seminars, videotapes and Fannie-backed programs, has set the standard for other lenders.
Interesting things will also be happening in Pittsburgh where Sy Naqvie, PNC Mortgage's chief operating officer, will oversee the combined lending abilities of PNC Mortgage, Pittsburgh, and Sears Mortgage Corp., Vernon Hills, Ill., which PNC acquired in November. The combination will form the nation's 11th-largest lender.
