MIAMI-In a move to forward its residential mortgage brand in the Southeast, Miami Lakes-based J.I. Kislak Mortgage has appointed Edward Scott, 53, as senior vice president and southeast divisional manager. Scott will rely on his 26 years of mortgage origination and management experience to lead the firm’s expansion and supervise Florida-based branches.
“I am pleased to have attracted someone of Eddie’s caliber to help me expand our footprint in this important market,” says Thomas Wind, managing director of Kislak Mortgage. “His extensive experience in building and operating mortgage divisions in the Southeast, coupled with his stellar reputation and intimate knowledge of the regional marketplace, makes Eddie the perfect fit to execute the Kislak Mortgage strategy in Florida.”
Scott spent most of his career as senior vice president and divisional manager for JPMorgan Chase in Melbourne. During his 11-year tenure, he oversaw JPMorgan Chase’s mortgage sales and operations in the Southeast and grew the company’s mortgage business from a $1 billion to a $4 billion annually.
Most recently, Scott served as vice president for Wells Fargo Private Banking, formerly Wachovia Private Banking, where he was responsible for business development and loan origination. He also spent time as senior vice president and divisional manager for Washington Mutual’s mortgage division, managing the mortgage production for more than 300 bank branches and 25 mortgage branches.
“Our strategy is quick turn around on loan approvals for the retail customers,” Scott tells GlobeSt.com. “That strategy is what drew me to the company. Most banks have gotten away from that strategy, but it’s the right way to do business.”
As opposed to 60- to 90-day turnarounds, which have become common on the retail side of the mortgage banking industry, Kislak is offering 10- to 15-day turnarounds on most loan approvals. Scott says this aggressive position helps set Kislak apart from its competitors and makes the firm a value-added partner to builders.
“The mortgage industry is complicated,” Scott says. “The challenge is a changing regulatory environment. This is the right time for Kislak to enter the retail mortgage banking business in Florida. With all the mortgage industry has gone through, the successful firms will be those that are nimble and quick. That’s what we’re bringing to Florida.”
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