SALT LAKE CITY--()--Veritas Funding is bucking housing trends by increasing mortgage volume, creating new jobs and embracing its new regulator. Smart lending practices and consumer protection are the Veritas strategies for growth in a down economy.
“We intend to be a good corporate citizen, and we support the government’s efforts to protect consumers from deceptive lending practices.”
Two vice presidential appointments were announced this week by Veritas President and CEO Tim Roush. Lance Miller is the new General Counsel and Vice President of Compliance. Chris Maturo was named Vice President of Sales and Business Development.
The eight-year-old company is defying the market and creating jobs. And it’s building a unique business. Nearly two-thirds of its mortgages are for home purchases. For most mortgage companies in today’s market, the bulk of the business is refinancing to lower interest rates. The Veritas focus on “purchase-money” mortgage financing is consistent with its commitment to provide Utah families an opportunity for housing and financial stability.
“Veritas is growing in today’s housing market because we have a philosophy that doing the right thing by consumers is the path to success,” Roush said in announcing the expansion. “We have a history of ‘best practices’ in the mortgage industry. We positioned ourselves to come through tumultuous times by focusing on quality loans and servicing our clients.”
Mortgage companies have a new Federal regulator, and Veritas embraces the change. The new Consumer Financial Protection Bureau (CFPB) begins auditing mortgage companies this year. Says Roush, “We intend to be a good corporate citizen, and we support the government’s efforts to protect consumers from deceptive lending practices.”
About Vice President Lance Miller, General Counsel/VP of Compliance
Lance Miller comes to Veritas from a regulatory and educational background. He is President of Praedo Institute, a national mortgage and real estate education and consulting firm. He chairs the Utah Residential Mortgage Regulatory Commission, is former President and Principal Lending Manager of freehomeloan.com and is a licensed Utah attorney. He brings expertise on loan origination, legal and mortgage regulatory compliance. He will ensure Veritas holds itself to the highest standards with industry regulations, including recent changes to Federal Fair Lending and other consumer protection.
About Vice President Chris Maturo, VP, Sales and Development
Chris Maturo was previously Associate Vice President Correspondent Lending Sales at Bank of America. He managed a team of sales executives and a personal book of key clients, servicing 84 mortgage banking firms, banks and credit unions spanning 10 Western States. He is a national top producer with over 23 billion dollars in residential loan production. He leads the Veritas production team with a focus on sales growth by increasing current production, and adding new retail branches in the Mountain West. Since its inception, Veritas has focused on quality lending practices and servicing customers well. As a result, Veritas has now positioned itself to grow as other lenders have been forced to leave the marketplace. Maturo will be responsible for executing the Veritas growth strategy while maintaining its corporate culture.
About Veritas Funding
Veritas is headquartered in Murray, Utah. It was founded in 2004, and has doubled in size every 18 months since its inception. Today, 91 people are employed at six Utah branches. Veritas is among the top home mortgage lenders in Utah with approximately $400 million in annual originations. Utah Business Magazine recognized Veritas as one of the 50 fastest growing companies in Utah for two years running. Veritas is planning expansion into other western states.
For more information on Veritas Funding, go to: www.vfund.com
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