After 10 years with Norwest Mortgage, the head of the lender's capital markets group has resigned.
Mark Faris will remain at Norwest through the completion of the acquisition of Prudential Home Mortgage, which is expected by the end of the month. The company has not yet named a replacement.
In an internal announcement, Mr. Faris said he was resigning because he felt he was unable to attain his career goals at Norwest, according to a company spokesman.
Mark Korell, group president at Norwest Mortgage, said in a prepared statement that Mr. Faris's efforts were valuable in building the company into an industry leader.
Norwest Mortgage will be the largest mortgage company after the acquisition of Prudential Home Mortgage is complete.
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North American Mortgage has named Tom Hunt district manager in San Bernardino and Riverside counties.
Most recently, Mr. Hunt was the company's regional marketing manager. Before joining North American, he was a vice president and regional marketing manager at Home Savings of America.
"We expect Tom will have great success in expanding our loan production to realtors, consumers, builders, and mortgage brokers throughout the Inland Empire and desert areas," said John Lacagnina, senior vice president of the company's Southern California and Nevada region, in a prepared statement.
Last year, North American was the largest lender in California's Inland Empire area, funding more than $200 million purchase loans there. The Inland Empire includes San Bernardino and Riverside counties.
North American is the 10th largest mortgage lender in the country and the second-largest publicly traded independent mortgage company.
