First Guaranty Mortgage Corp. (“FGMC”), McLean, Virginia, has promoted Andrew Peters to be its new Chief Executive Officer. FGMC is a national, full-service mortgage lending firm offering retail and wholesale mortgage solutions to clients of varying income and credit types.
Peters has been with FGMC for over ten years, serving most recently as its SVP, National Business Director. He has also held leadership positions within the company in underwriting, sales and loan origination. His recent focus has been on REO lending initiatives, including FGMC’s “Rebuild the Dream” initiative, which was designed to facilitate renovation lending in combination with REO sales.
Peters has also led the rollout of the company’s “Correspondent’s Edge” product, making available niche loan products to correspondent lenders. Peters previously spent four years with Staten Island Bank, with duties as head underwriter as well as East Regional Sales Manager during his tenure there.
“Andrew understands that the mortgage lending business is changing dramatically and that the successful mortgage lenders will be those which adapt,” said Kenneth Clark, Founder and Chairman of FGMC. “His creativity and ability to adapt to change, in combination with his aptitude for communicating the First Guaranty vision to others, make him an excellent choice for his new role.”