Movement hires two Fairway executives to bolster its sales team

Based in South Carolina Motion Mortgage hired two executives away from rival Fairway Independent Mortgage to accelerate the growth and development of its distributed retail team.

The non-bank lender has appointed 34-year veteran Sarah Middleton to the new role of Chief Growth Officer to attract, onboard and develop sales leaders. Meanwhile, Kevin McGovern will be the Director of Coaching, responsible for creating a coaching platform.

The new hires come in a difficult environment for mortgage companies due to soaring rates and fears of a recession in the United States, which is causing volatility in the market.

The movement originated from about $14 billion in mortgages in the first half of 2022, down 17% year-over-year, according to estimates from Inside Mortgage Financing. However, the company reported volume of $7 billion in the second quarter, up 4.5% from the previous quarter.

Middleton joined Fairway in 2013, where she served as president of sales development and recruiting. She also led the company’s internal coaching platform, Fairway Ignite. Middleton previously worked at Guild Mortgage Corporation and Liberty Financial Group.

McGovern was executive vice president of Fairway and chief operating officer of Fairway Ignite, the coaching platform with 175 coaches and more than 4,000 clients served.


The key to attracting and retaining mortgage talent in turbulent times

HousingWire recently spoke with American Pacific Mortgage President Ned Payant about creating a culture that attracts and retains mortgage talent.

Presented by: American Pacific Mortgage

Movement CEO and Founder Casey Crawford said in a statement that he respects what Founder and CEO Steve Jacobson has built at Fairway and said, “Our whole community is better off today with Sarah on our team. .”

Movement has over 4,000 employees, 650 branches in the United States, and is licensed in 50 states. The lender says it funds about $30 billion in residential mortgages a year.

In March, the lender laid off about 170 employees, several company sources told HousingWire.

The latest wave of pink slip represents the second large-scale layoff move in the past five years. The move cut 180 jobs in 2018 due to a nationwide slowdown in the housing market and mortgage lending.

About Teresa G. Wilson

Check Also

Home prices see biggest drop in 9 years, thanks to rising mortgage rates

Higher mortgage rates are throwing a bucket of ice water into the overheated real estate …