We created a new ESOP model which empowers employees to think and act like owners, making decisions to benefit the whole team and their clients. It has the power to change the landscape in mortgage banking
CHULA VISTA, Calif. (PRWEB) June 10, 2020
HousingWire recently announced its 2020 Rising Stars, shining a spotlight on 50 leaders under the age of 40, who are shaping and propelling the future of the mortgage, real estate and fintech industries. Joseph S. Restivo was selected as one of those 50 leaders for his willingness to tackle existing problems within the traditional mortgage industry and come up with fresh solutions to these challenges. The result is the establishment of the new American Mortgage Network as a 100% employee-owned company (ESOP).
Before starting American Mortgage Network, Restivo was the founder, owner and operator of two mortgage broker firms and one mortgage bank as well as a top originator. He was the CEO of California Mortgage Direct, which offered residential and commercial loan services to San Diego residents, including the resources and support normally associated with a large corporation while providing personalized service. He was the Vice President at Castle Mortgage and founded Rite Way Mortgage.
“We created a new ESOP model which empowers employees to think and act like owners, making decisions to benefit the whole team and their clients,” noted Restivo, President and CEO. “It has the power to change the landscape in mortgage banking. All of the company’s staff and executives are $15 or $16 per hour employees although there is an opportunity to earn additional compensation.“
Restivo continued, “I want to personally thank Housing Wire for this honor. AmNet is not a traditional ESOP founded, for example by a leveraged buyout. Rather, it is completely new with earnings power to benefit all team members now and in the future.”
This is the seventh year that HousingWire has recognized these innovative leaders for their Rising Stars program, and the nominations grow more competitive each year.
“This year’s Rising Stars are shaping and innovating the housing industry through one of the most difficult times since the Great Recession,” HousingWire Magazine Editor Kelsey Ramirez said. “This year’s list was more competitive than ever, and I am proud to recognize HousingWire’s 2020 Class of Rising Stars.”
“The first half of 2020 has been stressful and tumultuous for our country and the housing economy. This is an extremely special group of Rising Stars winners,” said Clayton Collins, CEO of HousingWire. “Not only have they demonstrated success in their careers and professions, they have also demonstrated the agility, fortitude and creativity to help lead their teams and clients through this time of change.”
About American Mortgage Network
American Mortgage Network (AmNet) is an Employee-owned company (ESOP) 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 states. Visit https://amnetmtg.com/ to learn more.
About HW Media
HW Media is the leading digital community for real estate, financial services and fintech professionals to engage, connect and gain knowledge. Founded in 2016 through the acquisition of HousingWire, HW Media is based in Dallas, TX with team members across the country. HW Media is owned by Riomar Capital.
HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 1.0 million unique visitors each month. Our audience of mortgage, real estate and fintech professionals relies on us to Move Markets Forward. Visit http://www.housingwire.com or http://www.solutions.housingwire.com to learn more.
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Marketing Manager, HousingWire