New York, May 30, 2018 — Promontory MortgagePath™, a provider of next-generation mortgage technology and loan fulfillment services, today announced three senior-level additions to expand its relationship management and sales efforts. The new hires will focus on bank relations, technology and outsourced services opportunities, the company said.Paul Katz, a long-time American Bankers Association (ABA) executive, has joined Promontory MortgagePath as head of bank relations. He will report to Bruce Witherell, chief executive officer. In this role, Katz will be responsible for expanding the company’ presence in the banking and credit union space. Scott Stein has joined the company’s technology unit, PromonTech, as regional vice president of sales; and David Sears has joined the company’s fulfillment unit, Promontory Fulfillment Services, as regional sales director.
Katz is a seasoned banking industry veteran with more than 30 years of experience in business development, state relations, association leadership, and public policy. He joins Promontory MortgagePath after serving the American Bankers Association (ABA) in a host of senior level positions spanning nearly two decades. Most recently, Katz was the executive vice president of the ABA State Association Alliance where he managed the strategic alliance between the ABA and the 50 autonomous state bankers associations. Prior to his tenure with the ABA, Katz held various posts at America’s Community Bankers Association and its predecessors. This included work in membership, state relations, government relations and communications.
Stein joins PromonTech from Maxwell Financial Labs, a provider of digital mortgage cloud software, where he was the vice president of Sales & Business Development. Previously, he was the vice president of Sales for Roostify, an early entrant into the point of sale space. Prior to Roostify, Stein was the executive vice president of Sales for Mercury Network, the leading appraisal vendor management software provider, where he was responsible for restructuring and expanding the sales team, resulting in significant revenue growth. Stein was also the president and chief executive officer of Xetus, a loan origination software developer.
Sears joins Promontory Fulfillment Services from Gooi Mortgage, a provider of back office mortgage fulfillment services, where he was a regional account executive. Sears has held a series of senior level sales positions with leading correspondent and wholesale lenders such as Platinum Mortgage, Plaza Mortgage, Michigan Mutual and Security National Mortgage.
“We are seeing a growing acceptance and adoption of both our technology and outsourced fulfillment offerings, as well as a strong interest in digital solutions from the banks and credit unions”, said Bruce Witherell, chief executive officer of Promontory MortgagePath. “The addition of consultative executives of the caliber of Paul, Scott and David will accelerate this growth.”
About Promontory MortgagePath
Headquartered in New York, Promontory MortgagePath was founded by Gene Ludwig and Bruce Witherell, the former U.S. Comptroller of the Currency and chief operating officer of Freddie Mac, respectively. The company has two main operating divisions: Promontory Fulfillment Services and PromonTech, its Denver-based technology arm. Promontory Fulfillment Services offers end-to-end white-label mortgage fulfillment services for banks, mortgage banks and private investors and is located in Danbury, Conn. PromonTech is a FinTech hybrid—that is, a technology company, led by seasoned banking and mortgage executives. Its digital solutions are designed by talented technologists and mortgage experts, working collaboratively to eliminate pain points and enhance the customer experience. Promontory MortgagePath is the winner of the 2018 HW Tech100™ award and the 2018 Progress in Lending Innovations award.