iServe Residential Lending announced the opening of eight new branches across the United States and the appointment of experienced branch managers to oversee them. They also appointed two new regional managers, Gary Hoyer and Mark Loreto, to oversee activities in the Northeast. Hoyer has several years of industry experience, while Loreto has experience founding and serving as principal for other mortgage companies. The new branches and managers will help iServe continue its national expansion plans and better serve customers.

2. Bill Dunger and Rick Barkdull will manage the Federal Way branch;

3. Howard Dewitt will manage the Spokane branch;

4. Raymond Villanueva will manage the Walnut Creek branch;

5. John Del Casale will manage the San Jose branch;

6. David Sutter will manage the Scottsdale branch; and

7. Mark Heafner will manage the Gastonia branch. Concurrently, iServe has appointed Gary Hoyer and Mark Loreto as Northeast regional managers. They are joining Allen Friedman and Ken Michael, who currently serve as Western and Southeastern state regional managers. As regional managers, their responsibilities will include fostering new business relationships, recruiting new branch managers and loan officers, developing strategic programs and initiatives to accelerate growth and profitability in the local markets and marketing the company’s products to new customers. <br />“As one of the leading retail mortgage companies in the United States, iServe benefits from a number of competitive advantages that set it apart from its peers, importantly, a robust operations and compliance platform and nationwide footprint. It is this unique operating platform, in addition to a strong compensation and benefits program, that allows our mortgage bankers and loan originators to better perform in today’s market by focusing on meeting the needs of their most important constituents – their customers,” said Gary Willis, Chief Executive Officer of iServe.<br />Mr. Willis continued, “It’s always been iServe’s goal to align itself with knowledgeable, professional and capable leaders. We are thrilled to welcome the newest members of our team and look forward to expertise they will bring to the company.” <br />Information About iServe’s New Northeast Regional Managers<br />Both Gary Hoyer and Mark Loreto will be responsible for overseeing activities at the Northeast branches. <br />Mr. Hoyer has several years of industry experience having previously served in several executive positions. Prior to joining iServe, Mr. Hoyer was Senior Vice President of Proficio Mortgage Ventures, a wholly owned subsidiary of Proficio Bank. The company was a nationwide HUD-approved mortgage lender licensed in 50 states. It boasts a wide range of mortgage products including conventional, jumbo, FHA, VA, and USDA financing. He was previously the President and Chief Executive Officer of Sterling Eagle Mortgage Investment Company, where he worked alongside Mr. Loreto. At Sterling Eagle, he was primarily responsible for developing and structuring the asset-based financing programs. Mr. Hoyer graduated from Syracuse University with a major in accounting. <br />Mr. Loreto joins iServe from Sterling Eagle Mortgage Investment Company where he served as Chairman of the Board and Chief Operating Officer. At Sterling Eagle, he was responsible for funding relationships, negotiating and structuring joint ventures, and various aspects of operations and served as secretary and general counsel. In March 1993, Mr. Loreto co-founded and served as a principal of PrinCap, responsible for documenting and monitoring client and funding source relationships, credit analysis and review of clients, financial analysis of funding source proposals, personnel, and cash management. Mr. Loreto received a BA degree in Chemistry from The Johns Hopkins University, an MBA in Finance from the Wharton Graduate Division of the University of Pennsylvania and a Juris Doctor degree from New York Law School.<br />Information About iServe’s New Branch Managers<br />Kevin Vander Heyden was previously a branch manager at NetMore America, whose product pipeline included conforming, jumbo and super jumbo, government FHA, FHA and reverse Mortgages, amongst others. Mr. Heyden will oversee operations at the Silverdale branch.<br />Bill Dunger and Rick Barkdull join iServe from Guild Mortgage, a privately-held mortgage company in the Western United States. At Guild Mortgage, the two served as branch managers. Mr. Dunger and Mr. Barkdull have worked together for several years and will co-manage the Federal Way branch.<br />Howard Dewitt brings with him over twenty years of experience in the mortgage business. He was previously a loan officer at Cornerstone Home Lending, a branch of Cornerstone Mortgage Company, an independently owned mortgage company focused on retail origination strategies. Mr. Dewitt will anchor the Spokane branch. <br />Raymond Villanueva most recently served as a branch manager for Brightgreen Home Loans, a wholly owned subsidiary of Hestia Financial Inc. Mr. Villanueva will oversee operations at the Walnut Creek branch. <br />John Del Casale was previously a loan agent at Cedar Mortgage Company, an independently owned real estate mortgage brokerage and mortgage banking firm. The firm specializes in conventional mortgage products for single family, condominium, townhouse and multiunit properties. Mr. Del Casale will serve as manager of the San Jose branch. <br />David Sutter has over twenty-five years of experience in mortgage lending. He joins iServe from Greater Arizona Mortgage Corporation, where he served as a Regional Mortgage Executive. Mr. Sutter will serve as manager of the Scottsdale branch. <br />Mark Heafner brings to iServe over twenty years of mortgage lending experience. He was most recently owner of Monarch Financial, a mortgage lender based in Charlotte, NC. Mr. Heafner will serve as manager of the Gastonia branch. <br /> <br />For more information please contact:<br />Gary Hoyer or Mark Loreto, Northeast Region <br />ghoyer@iservlending.com or mloreto@iservelending.com <br />Allen Friedman, Western State Region<br />afriedman@iservlending.com <br />Ken Michael, Southeastern Region <br />kmichaels@iservelending.com <br />About iServe Residential Lending <br />iServe Residential Lending is a mortgage banker offering a full line of FHA, Agency and Jumbo loan programs that was acquired by affiliates of National Asset Direct, Inc. in June 2009. iServe Residential Lending LLC is licensed in 18 states. For more information, please visit www.iservelending.com. <br />Media Contacts:<br />Sard Verbinnen & Co.<br />Dan Gagnier/Brian Shiver<br />(212) 687-8080<br /> <br />* * *<br />