Geneva Financial, a Chandler, Arizona-based direct mortgage lender operating in 47 states, has launched an in-house portfolio lending division.
Starting with $55 million in managed funds, the new division will be a financing partner for Geneva Financial loan officers to assist investors, builders and clients of their real estate agents. Products will include construction loans for ground-up or renovation (Fix and Flip) as well as bridge loans for investors (six months to three years) and a proprietary bridge loan called “The Transition” that enables borrowers to purchase a new home before their existing one is sold.
The new division will be led by Morgan Smith, who was previously managing director of alternative investments at Community First Bank | HFG Trust. Smith worked at the company 10 years ago in sales development and loan origination.
“This new division is an exciting addition to our already robust offering,” said Geneva Financial CEO Aaron VanTrojen. “More than that, we are delighted to have Morgan Smith and his incredible expertise join the company.”
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