Roc360, a vertically integrated platform for residential real estate investors and a leading originator of business-purpose loans nationwide, announced today that it has appointed Gregg Kennedy as its Head of Sales for their newly acquired CIVIC Financial Services brand.
Kennedy will lead new business strategy and execution for all areas of mortgage origination including CIVIC’s broker and direct borrower channels.
“With over 20 years of proven leadership experience, Gregg is a visionary leader with a clear focus on nurturing relationships, driving customer satisfaction, and uncovering untapped markets,” said Eric Abramovich, Co-founder at Roc360. “Gregg’s vast experience and accomplishments as a leader in the mortgage industry will help to scale and energize CIVIC’s presence in the market through a broader range of products and services and increase its offerings from 33 states to 44 states across the country.”
Kennedy expressed his enthusiasm about joining CIVIC and building upon the solid foundation established over the last decade, stating, “Roc360’s strength in capital markets and its ability to remain profitable during these unprecedented times will only strengthen CIVIC’s position in the market,” said Kennedy. “We have a significant opportunity to grow and expand our presence in the California market and beyond, by offering our borrowers and broker partners an unmatched level of customer service with the backing of Roc360’s industry’s leading real estate lending platform.”
Gregg has served in several leadership roles for Roc360’s family of real estate brands. As Managing Director of Haus Lending, Gregg helped double year-over-year origination volume. Most recently, Gregg served as Managing Director of Finance of America Commercial. Prior to joining Roc360, Kennedy’s experience includes prior leadership roles at JP Morgan Chase, Northmarq and Prudential.
CIVIC was founded in 2014 to serve investors who did not fit within the traditional real estate lending criteria. Since its inception, CIVIC has funded in excess of $9.4 billion through its borrower-direct, broker, and correspondent channels.
The CIVIC asset acquisition materially strengthens Roc360’s existing national origination footprint, specifically in CIVIC’s home state of California, the largest market for business-purpose loans to real estate investors. In 2022, Roc360 affiliates and CIVIC collectively funded in excess of $7.6 billion in business-purpose loans.
Roc360 is a leading financial services platform for residential real estate investors, providing vertically integrated solutions, including lending, servicing, insurance, and valuation. Founded in 2014 by Arvind Raghunathan, Maksim Stavinsky and Eric Abramovich, Roc360 employs over 300 people and has funded nearly $25 billion in loans throughout the United States through its lending affiliates. The company is headquartered in New York City with offices on three continents.
Earlier in 2023, Roc360 acquired the operational assets of Financial of America Commercial in a similar transaction.