Centex Expanding "B & C" Mortgage Operation; Adds New Senior Management.DALLAS--(BUSINESS WIRE)--Jan. 27, 1997--Centex Corporation said today that consistent with its announced strategy of expanding its "B & C" (sub- prime) mortgage business, two new executives, Anthony H. Barone and Stephen Janawsky, have been added to the senior management team of Nova Credit Corporation, a Centex (NYSE NYSE See: New York Stock Exchange :CTX CTX Context (Management; Tandem) CTX Centex Corporation (stock symbol) CTX Centrex CTX Cyclophosphamide CTX Corporate Trade Exchange CTX Cytoxan CTX Cholera Toxin CTX Clinical Trial Exemption ) subsidiary. Barone has been named Nova's president and chief executive officer and Janawsky has been appointed executive vice president. The addition of these two seasoned executives will enable Centex to add a significant broker and referral organization to its rapidly growing B & C retail mortgage loan network, the company said. Prior to joining Nova, both Barone and Janawsky were executive vice presidents of Ford Consumer Finance Company. Each managed a $3 billion loan portfolio and an organization of approximately 500 people. Both Barone and Janawsky directed retail, broker and correspondent origination operations as well as portfolio management and servicing. Barone spent a total of 17 years with Ford and its predecessor companies. He has a B.A. in Economics from the University of Connecticut The University of Connecticut is the State of Connecticut's land-grant university. It was founded in 1881 and serves more than 27,000 students on its six campuses, including more than 9,000 graduate students in multiple programs. UConn's main campus is in Storrs, Connecticut. . He has served on the Board of Directors of the National Second Mortgage Association and as a member of the Consumer Bankers Association. Janawsky, who has 16 years of consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. experience, joined Ford in 1991. He previously was vice president/operations manager for Marine Midland Mortgage Corporation and district manager for CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Financial/Manufacturers Hanover Consumer Services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, . He received his education in Business Management at the State University of New York (body) State University of New York - (SUNY) The public university system of New York State, USA, with campuses throughout the state. . Through its CTX Mortgage Company subsidiary, Centex currently ranks as the nation's second largest non-bank-affiliated retail home mortgage originator of "A" (standard) loans. As a natural adjunct to that business, Centex entered the B & C and home equity loan businesses about 18 months ago. Since that time, under the leadership of Richard L. Smith, Nova has established 30 offices in 12 states. Smith will continue as an important member of Nova's senior management team, leading its retail origination operation. Both Nova Credit Corporation and CTX Mortgage Company are members of Centex's Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group. In addition to its Financial Services operations, Centex, through its subsidiaries, is one of the nation's largest home builders and general building contractors, and has Investment Real Estate operations. Centex also owns 51 percent of Centex Construction Products, Inc. (NYSE:CTX). CONTACT: Centex Corporation David W. Quinn, 214/981-5000 Sheila E. Gallagher, 214/981-5000. |
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