Construction Lending Expert Douglas Norman joins On Q Financial as new VP of Construction and Renovation Lending
FOR IMMEDIATE RELEASE (Tempe, Ariz.) –
On Q Financial, Inc. has appointed Douglas Norman, a mortgage veteran with over 40 years of industry experience, as VP of Construction and Renovation Lending. Norman will support On Q Financial’s builder relationships and establish the strategy to grow its One Time Close (OTC) Product.
OTC allows qualified builders to offer their customers a construction-to-permanent financing option to close their loan only once before construction rather than closing twice – before and after construction.
“With the increasing demand for new houses, builders are looking for creative financing solutions for their buyers. Doug’s wealth of knowledge in the construction lending space will be instrumental in growing this channel of business for On Q Financial,” said Juan Rodas, Executive Vice President of On Q Financial.
Norman’s first VP position was in 1988 for First of America Bank, followed by eight more VP positions before joining On Q Financial. Most recently, Douglas was the First Vice President of Builder Production Management at Flagstar Bank, where he created strategy to improve all facets of Builder and Renovation lending. His over 40 years of mortgage knowledge extends to both sales and operations, 15 of those years in construction lending alone.
“On Q Financial’s numerous builder relationships prove the company’s ability to fulfill both the needs of the borrower and builder. I believe the framework is in place to grow On Q’s OTC channel while creating valuable relationships with new builder partners,” said Norman. “I see the potential here for borrowers and builders to easily come together with On Q Financial building the bridge.”
About On Q Financial, Inc.
On Q Financial, Inc. was founded in 2005 by John Bergman to simplify the mortgage lending experience. The company provides mortgage loans through Distributed Retail, Direct to Consumer, Correspondent and Wholesale. Borrowers consistently rank On Q Financial amongst the highest rated lenders for their exceptional lending experience.
For more information, visit www.onqfinancial.com On Q Financial, Inc., is an Equal Housing Lender NMLS# 5645 |