San Diego, California / Apr 12, 2016
Guild Mortgage Co., one of the fastest-growing independent mortgage banking companies in the country, has named partner and senior vice president Theresa “Tee” Cherry as manager of its California coastal region.
Mary Ann McGarry, Guild president and CEO, said Cherry brings nearly three decades of mortgage industry experience to the region during an important era in its growth.
“The region is large and complex and Guild is fortunate to have an executive of Tee’s stature to take over this important leadership role,” said McGarry.
The region consists of 21 base branches, 24 satellite locations, 177 loan originators and accounted for nearly $2 billion in loan originations in 2015, up 56 percent from $1.27 billion in 2014. The region spans the counties of Alameda, Contra Costa, Kern, Los Angeles, Marin, Monterey, Orange, Riverside, San Benito, San Bernardino, Santa Clara, San Diego, San Luis Obispo, San Mateo, Santa Barbara, Santa Cruz, and Ventura. Cherry will continue to be based out of Guild’s corporate headquarters, 5898 Copley Drive, San Diego, California 92111.
In addition to her new duties as regional manager, Cherry will continue to be a key member of the Guild production management team and build communications with regional, district and branch managers throughout the company.
Cherry began her career with Guild in 1989 in the loan servicing department and has vast experience with the company. In 1997, Cherry was promoted to vice president while serving as the default manager in the company’s foreclosure department. She later returned to production management within Guild’s direct lending division, and in 2001 joined Guild’s corporate loan production department where she assumed responsibilities in recruiting and managing branches. In early 2008, Cherry became a partner in Guild’s ownership structure.
Additionally, she has helped guide the company’s design of web-accessible systems based on her extensive experience as both a loan officer and in working with Guild’s branch managers. Cherry received a bachelor of business administration degree in 1987 from the University of San Diego.
“I am privileged to lead a highly experienced team in the California coastal region,” said Cherry. “We are all dedicated to providing our customers and referral partners with the exceptional service and expertise they have come to expect from Guild in navigating an increasingly complex environment regarding the home loan process.”
Guild offers a traditional range of residential mortgage products and funds the majority of its loans, which provides consistency and also speeds loan approvals. Its loan professionals can serve the needs of any homebuyer, from helping first-time homebuyers achieve their dreams of home ownership, often through government loan programs, to providing jumbo home loans through its relationship with Mutual of Omaha Bank. Guild also specializes in helping active duty and retired military personnel to secure VA loans, which provide 100 percent financing and flexible qualifying standards.
About Guild Mortgage
Guild Mortgage Co. was founded in 1960 as a home financing company for American Housing Guild in San Diego, California. Guild broadened its range of services in 1972 by including resale mortgage financing. After decades of successful innovation and growth, Guild Mortgage Co. is now a nationally recognized mortgage banking company with 234 branch and satellite offices in 25 states. It generated loan volume of $13.8 billion in 2015, up 86.1 percent from $7.4 billion in 2014. Its servicing volume reached $22.3 billion in 2015, up 34 percent from $16.6 billion in 2014. In addition, Guild has correspondent banking relationships with credit unions and community banks in 47 states. (Equal Housing Lender. Company NMLS #3274).