Sierra Pacific was one of the original lenders to support mortgage brokers on a national scale.
In its 34 years of business, Sierra Pacific has persevered through many changing industry landscapes and challenges – a level of experience that is crucial in supporting its partners through uncharted territory like the impact of COVID-19 on business.
Sierra Pacific Wholesale aims to help the broker community continue to thrive by providing a collaborative lender relationship to allow brokers the opportunity to increase market share by upwards of 25% in 2020.
“At Sierra, we’ve always taken an extremely mindful approach to our product offerings and value, so many of the more conventional loan product types have proven to be extremely fruitful for our broker partner,” said Jim Coffrini, president and CEO.
“Combined with today’s continued – and possibly historic – low-rate environment through 2020, we believe our brokers will have a significant opportunity to continue growing their market share with Sierra products and services into the foreseeable future.”
To accomplish this, Sierra Pacific Wholesale is focused on multiple initiatives to bring additional value to its partners.
The company is making significant investments in its technology, processes, people and company infrastructure to support that growth.
In 2020, Sierra Pacific has focused on deploying its proprietary broker portal, ExpressLoan. ExpressLoan features an array of customized tools that provide third-party originator partners with a more intuitive and modern technology experience.
Within the ExpressLoan platform, Sierra Pacific recently introduced its DUAL Automated Underwriting System. The DUAL AUS feature gives brokers the ability to simultaneously submit to both Desktop Underwriter and Loan Prospector and then display them in a side-by-side comparison.
This feature helps brokers make a more informed selection about which product is best suited to a borrower’s needs earlier in the process and aids in a streamlined approach to documentation.
Sierra Pacific is also rolling out its Fast Track process to help improve broker efficiencies at the point of sale. Fast Track allows brokers to instantly validate the borrower’s employment, income, and assets prior to submitting the loan to Sierra Pacific.
This gives them a more robust pre-approval that can compete with cash offers and even shorten the processing and underwriting cycle times by almost half.
While Sierra Pacific is always looking for solutions to help brokers optimize their business from a technology standpoint, it also draws on more than 30 years of experience to bring a deep skill set and broad perspective to files every day.
“At the foundation of our storied legacy of supporting brokers is a culture that understands that a human approach is still critically important in this business. It strengthens our relationships because we believe that care, concern and connectivity cannot be automated,” said Amy Mahar, EVP of third-party originations.
“To us, being the best means being there every step of the way for our broker partners; we have done that consistently over decades and we’re just getting started!”
Jim Coffrini, President and CEO
Jim Coffrini oversees all company operations with his clear vision and well-defined strategies. Coffrini’s entrepreneurial approach and 30+ years of experience in the mortgage banking industry have helped him to implement his vision of Sierra Pacific as a leading national mortgage banking company in multiple origination channels, delivering quality products and superior service to its customers.
Jay Promisco, Chief Production Officer
Jay Promisco is responsible for all of Marketing and Production. Currently, he is creating and implementing strategies for growing Sierra Pacific’s market share for the retail, consumer direct and wholesale channels. Promisco served most recently as Senior Vice President of Retail Lending with Sierra Pacific and as a former broker, branch manager and account executive, he is uniquely skilled in building a successful culture around the originator. He has also held executive roles at Stearns Lending, Wells Fargo Home Mortgage, Greenpoint Financial, Barclays Global Investors and E-Trade Financial.
Amy Mahar, Executive Vice President, Third Party Originations
Amy Mahar leads Sierra Pacific’s TPO channel. Mahar joined Sierra Pacific Mortgage in 2019 with a track record of success in implementing origination platforms, successful branding and exponentially growing market share for national firms in TPO. Sierra Pacific has a strong legacy in TPO, and Mahar’s role positions the company to build on its legacy, accelerate growth and create a sustainable platform that supports the growth of the third-party originator well into the future.