Bay Equity Names Paul Chevez Director of Finance

SAN FRANCISCO, CA--(Marketwire - Feb 6, 2012) - Bay Equity Home Loans, one of the San Francisco area's most respected and successful mortgage lending institutions and recently ranked No. 5 on the San Francisco Business Times list of the "Top 100 Fastest-Growing Private Companies" in the Bay Area, announced today that it has named Paul Chevez its Director of Finance.

In his new position Chevez will be responsible for cash flow, budgeting, cost analysis, internal and external financial reporting, audit and tax preparation and investments. In addition, he will also oversee Bay Equity's accounting department, and negotiate warehouse lines of credit and working lines of credit with banks.

"In our search for a finance director we placed a strong emphasis on experience, and we got that in Paul Chevez," said Jon McGovern, managing director of Bay Equity. "Paul has a proven track record in driving business growth through operational and structural improvements, and he will play a significant role in streamlining and strengthening our financial structure and procedures."

Prior to joining Bay Equity Chevez was Director of Business and Corporate Development for Got Appraisals, a national appraisal management company.

Formerly he capped a 14-year-career with CMG Mortgage, Inc., a mortgage bank based in San Ramon, California, as its Chief Financial Officer/Director of Secondary Marketing.

About Bay Equity

Bay Equity is a full-service wholesale and retail mortgage lending institution founded in June 2007 and headquartered in the heart of San Francisco's Financial District, one of the very few mortgage lenders actually located in the City by the Bay. Bay Equity also has operations centers in Pleasanton, California and Portland, Oregon and more than a dozen retail branch offices on the West Coast. In addition, Bay Equity has wholesale account executives covering the 10 Western States. To date the firm has funded more than 9,000 home loans totaling more than $3 billion and has grown to more than 190 employees. To learn more about Bay Equity, please visit our Web site at www.bayeq.com.