{"id":1927,"date":"2019-11-17T10:00:01","date_gmt":"2019-11-17T17:00:01","guid":{"rendered":"https:\/\/sandiegonewsdesk.com\/?p=1927"},"modified":"2019-11-14T15:13:03","modified_gmt":"2019-11-14T22:13:03","slug":"startup-mortgage-company-american-mortgage-network-forms-a-100-employee-owned-company-esop","status":"publish","type":"post","link":"https:\/\/sandiegonewsdesk.com\/?p=1927","title":{"rendered":"Startup Mortgage Company American Mortgage Network Forms a 100% Employee Owned Company (ESOP)"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">Low Cost Producer Focuses on Streamlined Processes and Cost Efficiency <\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">CHULA VISTA, Calif. (<\/span><span style=\"font-weight: 400;\">PRWEB<\/span><span style=\"font-weight: 400;\">) November 13, 2019 &#8212; American Mortgage Network (AmNet) announced today that a new mortgage company, serving home buyers and brokers, is being formed as a 100% Employee Owned Company (ESOP). An ESOP is an employee benefit plan and trust which owns shares of stock in the operating company. The ESOP structure enables every employee to become a beneficial owner in AmNet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AmNet offers a broad array of loan products, depending on clients\u2019 needs. Their team of professionals understands consumers\u2019 unique situations and knows how to simplify the home loan process for a painless experience.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joseph S. Restivo, President and CEO of AmNet, explains, \u201cOur objective is to create a flat organization with little or no bureaucracy. The result has helped speed decision-making. Each employee knows they have the power to act decisively. Everyone is a partner and a boss.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To achieve this objective, AmNet keeps costs to a minimum with no fancy offices, consultants, recruiters, or excess management. Digital processes streamline operational costs to further reduce expenses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AmNet\u2019s principals include Joseph S. Restivo, President and CEO; David W. Wallace, Executive Vice President and CFO; and Sherry Chappell, Chief Operating Officer. All are seasoned mortgage executives with multiple decades of combined industry knowledge, experience, and successful track records.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joseph S. Restivo is a serial entrepreneur and mortgage banking executive. Before starting American Mortgage Network, he was the founder, owner and operator of two mortgage brokerage firms and one mortgage bank.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">David W. Wallace has more than 20 years of experience in senior financial roles. He was Chief Financial Officer and Capital Markets Director for National Residential Mortgage-Heartland Financial. Prior to that, Dave was Senior Vice President, Corporate Controller for Impac Mortgage Holdings, Inc. He served as Executive Vice President, Chief Financial Officer, and Co-Founder of Bexil American Mortgage; Division Chief Financial Officer of American Mortgage Network-Wachovia Bank; Head of Retail Finance for Gateway Corporation; and Senior Financial Manager for Charles Schwab Corporation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sherry Chappell\u2019s 30 years of industry experience have encompassed all facets of mortgage banking with particular focus on operations, credit and technology. Most of Sherry&#8217;s career has been spent as Chief Operating Officer for several national mortgage companies. Most notably, she was a founding member in starting four mortgage companies, three of which became national platforms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">About American Mortgage Network American Mortgage Network (AmNet) is an ESOP-owned company whose core business is originating primary residential mortgages. AmNet offers a full suite of purchase and refinancing products, including Conventional\/Conforming, Government and Jumbo loans. AmNet targets all qualified borrowers for product offerings and is committed to fair lending practices in all licensed territories.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/unsplash.com\/@adeolueletu?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Photo by Adeolu Eletu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Low Cost Producer Focuses on Streamlined Processes and Cost Efficiency CHULA VISTA, Calif. (PRWEB) November 13, 2019 &#8212; American Mortgage Network (AmNet) announced today that a new mortgage company, serving home buyers and brokers, is being formed as a 100% Employee Owned Company (ESOP). An ESOP is an employee benefit plan and trust which owns&#8230;<\/p>\n","protected":false},"author":3,"featured_media":1139,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Startup Mortgage Company American Mortgage Network Forms a 100% Employee Owned Company (ESOP) - San Diego News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sandiegonewsdesk.com\/?p=1927\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Startup Mortgage Company American Mortgage Network Forms a 100% Employee Owned Company (ESOP) - San Diego News Desk\" \/>\n<meta property=\"og:description\" content=\"Low Cost Producer Focuses on Streamlined Processes and Cost Efficiency CHULA VISTA, Calif. (PRWEB) November 13, 2019 &#8212; American Mortgage Network (AmNet) announced today that a new mortgage company, serving home buyers and brokers, is being formed as a 100% Employee Owned Company (ESOP). 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