SOURCE: Bay Equity

Bay Equity

September 10, 2012 14:17 ET

Bay Equity Expands Its Management Team

John F. Cady Named as Director of Retail Production

SAN FRANCISCO, CA--(Marketwire - Sep 10, 2012) - Bay Equity Home Loans, ranked among the fastest-growing privately held financial institutions in the Bay Area, today announced John F. Cady has joined the firm's sales management team as Director of Retail Production.

Cady, most recently with Stearns Lending, where he was senior vice president of national retail, brings 20 years of mortgage-lending experience to Bay Equity.

"John has great connections, great ethics, he's a hard worker, and he knows everybody in the industry," said Casey McGovern, Bay Equity managing director. "We're excited to have a person of his reputation and talent on our team."

In this new position, Cady is charged with building Bay Equity's Retail Division from an already solid group of retail producers in areas across the country.

"John excels at recruiting, and he's been extremely successful in building retail divisions for leading mortgage lenders across the country," said McGovern. "We believe he can make Bay Equity a prominent player in the retail sector."

In addition to Bay Equity's strong management team, Cady said he was attracted to the opportunity and challenge his new position offers. "Bay Equity is destined for rapid growth in retail," he said. "I think we're in a great position to pick up market share throughout the western United States."

Last year, Cady was recognized by Mortgage Professional Magazine in its "40 under 40" edition.

A native Californian, Cady attended Azuza Pacific University and has spent most of his professional life in the state.

Bay Equity opened in San Francisco in April of 2008, in the midst of the recession, but expanded quickly into 11 states and continues to grow. In October 2011, San Francisco Business Times named Bay Equity among its "Top 100 Fastest-Growing Private Companies" in the Bay Area, and at No. 5 overall, the company was the highest-ranked financial firm on the list.

McGovern and his brothers, Jon and Brett McGovern, launched the company with $1.75 million in capital and 25 employees. By the end of 2010, revenues topped $17 million, and Bay's Equity's team of accomplished mortgage and financial professionals had grown to 207. Bay Equity now has nearly 400 employees.

About Bay Equity

Bay Equity is a full-service wholesale and retail mortgage lending institution founded and headquartered in the heart of San Francisco's Financial District, one of the very few mortgage lenders located in the City by the Bay. Bay Equity also has operations centers in Pleasanton, California, Portland, Oregon, Tacoma, Washington and Everett, Washington and more than 25 retail branch offices on the West Coast. In addition, Bay Equity has wholesale account executives covering the Western States. To learn more about Bay Equity, please visit our Web site at www.bayeq.com.

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