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HomeNational MortgageLongtime Cenlar CEO to retire, successors named

Longtime Cenlar CEO to retire, successors named

Greg Tornquist is retiring from Cenlar as chairman and CEO after greater than 35 years on the helm and new leaders named on the firm spotlight what seems to be some heavy recruiting from the ranks of executives with government-sponsored enterprise ties.

Greg Tornquist

His successor within the chairman function is David Applegate, the previous CEO of Frequent Securitization Options. CSS is a Fannie Mae-Freddie Mac three way partnership that operationalized uniform mortgage-backed securities.

Applegate promised a clean transition in management in a touch upon his new function.

“Steady funding in all elements of our franchise will guarantee Cenlar’s dedication to offering each prime quality service to our clients and a rewarding work setting for our gifted group,” he stated in a press launch.

The corporate additionally now has co-CEOs. One is D. James “Jim” Daras, who between 2015 and 2019 was Cenlar’s chief danger officer. Curiously, that is a place the CRO from Frequent Securitization Options, Sara Avery, later took on, primarily swapping employers along with her predecessor Louis Glinn.

Along with being co-CEO, Daras may even function Cenlar’s president. Daras transitioned to an advisory function at Cenlar in 2019 and have become an government vp charged with managing banking capabilities, capital markets, finance and danger this 12 months.

Cenlar’s different co-CEO, Rober “Rob” Lux at one level served as government vp and chief info officer at Freddie Mac. He joined Cenlar as CIO in 2017, and was named government vp and chief working officer in 2019.

The sturdy operational backgrounds of Tornquist’s successors at Cenlar are in step with their predecessor’s. Tornquist is thought for being a key contributor to the development of the corporate’s subservicing platform.

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