Home News LendArch hires Karthik Kumar, former head of mortgage at TCS

LendArch hires Karthik Kumar, former head of mortgage at TCS

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Mortgage consulting company LendArch Former Global Mortgage Practitioner Karthik Kumar Tata Consultancy Services (TCS).

He is Vice President and Chief Operating Officer of Lend Arch.

Kumar Standard Chartered Bank After that, he spent 18 years at TCS from 2002 to 2004, focusing on solution architecture, operational delivery, and transformation of most entities of the top 40 mortgage lenders and the largest vendors.

“We are going to change the way financing is done fundamentally, such as behavior, market dynamics and products,” Kumar said. “We’re not talking about major changes in fixed investment, we’re talking about small changes that have a big impact.”

Lend Arch was founded in 2021 by Tammy Richards. Tammy Richards CV contains high level stints Bank of America, Caliber mortgage..She recently served as Chief Operating Officer LoanDepot. Richards left the company in March 2021 six months later Proceedings Lenders claim to have closed thousands of loans without proper documentation, among other bad deeds.

LendArch has over 30 clients, including lenders and brokers. With 25 employees, the company focuses on the origination side of its business. Clients include the top 10 lenders in the country.

How creditors can improve their business model in 2022

As 2022 turns out to be a difficult year for the housing market, lenders are looking to take advantage of potential downtime by improving internal processes. HousingWire recently spoke with Teraverde CEO James Deitch about the changes that lenders can make to their business model to maintain profitability.

Provided by: Terra Verde

LendArch has, for example, a consulting department to create plans for clients to reduce costs and improve underwriting. According to Kumar, it works like a “C suite in a box”, but with an independent perspective.

The company also has a technology development team that creates a series of small technical products aimed at making a big impact when all together. Kumar likened these techniques to Lego toy building blocks.

“We’re trying to create an API economy,” Kumar mentioned exposing corporate digital services and assets through application programming interfaces (APIs).

Kumar believes that LendArch’s technology has the potential to complement and communicate with the products of top domestic vendors. ICE mortgage technology When Black KnightBut don’t conflict with them.

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