In a move that will make a certain segment of our readership think of Phil Rizzuto ads on local TV, the Money Store announced Monday that Frank Mancino has joined the company as the Divisional Manager – East.
Mancino, an industry veteran with more than 35 years of experience in mortgage lending, started his mortgage career in the post-closing department of Cenlar Home Loans in 1986 — around the same time Rizzuto, the former Yankee great, was the Money Store’s pitch man.
(See this vintage ad from 1984 where Rizzuto touts a second mortgage at 14.5%.)
Mancino has shown Hall of Fame potential from the beginning of his career.
Leveraging his ability to connect with people, Mancino quickly ascended to underwriting, where he found his passion for becoming a mortgage loan officer. During the early ’90s, Mancino became a top-producing loan officer at prominent firms such as GMAC Mortgage and Chase Manhattan.
By 1995, Mancino joined Countrywide Home Loans as branch manager and vice president. During Mancino’s tenure, his flagship branch in Hamilton became one of the top origination branches in the nation. In 2005, Mancino and his team joined Gateway Funding, which Finance of America acquired in 2015. His branch continued to be the top branch in the company for Gateway/Finance of America, and he was promoted to regional vice president for the mid-Atlantic states. His region grew to 23 branches with more than 100 loan originators and over $2 billion in yearly funding in 2020 and 2021. Mancino’s region was purchase-focused and never fell below 60% in purchase production. In September 2022, Finance of America announced it was closing its doors, and Mancino and his team were forced to make only their second move in 27 years.
Mancino brought his team to the Money Store because he was looking for a company that’s privately held, financially solvent, has low corporate overhead, servicing retention, is nimble and has room to grow. The Money Store offers all that and more. As a result, Mancino and his team will have access to fantastic rates, direct underwriting to agency guides, great marketing and tools to help their referral sources grow their business.
“I’m excited to join an organization celebrating its 50th year in business,” Mancino said. “I look forward to working with the amazing team at the Money Store to expand the East Coast brand and meet the current market challenges with a proven winner.
“The Money Store has made strategic moves to be well-positioned for the future, and I look forward to adding my contribution to this company’s continued growth and success.”