Spring EQ Appoints Senior Vice President, Capital Markets
Spring equalizer, a national first and second mortgage lender, hired Saket Nigam to be its senior vice president, Capital Markets. Nigam, who brings more than a decade of experience in the mortgage capital markets, will be responsible for leading the continued growth of the company in the wholesale and direct consumer mortgage markets for first and second mortgage products. .
“Saket has significant leadership experience and expertise in the secondary mortgage market,” said Jerry Schiano, CEO of Spring EQ. “He thinks like an entrepreneur, has diverse experience and has the skills to build a cohesive team. I expect him to be a great addition to our team.
Nigam, who will report directly to Schiano, will lead the development of deep and productive relationships with banks, credit unions and Wall Street.
“I look forward to building on Spring EQ’s successful second lien and first mortgage business,” said Nigam. “I admire the culture of excellence inside and outside the company and look forward to contributing to its customer-centric mission. “
As the housing market is about to shift gears, Nigam said mortgage lenders will need to “sharpen their pencils” in order to grow their businesses this year. “The mortgage industry had one of its best years in 2020 with extreme volumes, especially with refinancing. But 2021 will not present the same opportunities, ”said Nigam. “Lenders who don’t have a plan to survive an environment of higher interest rates, lower margins and a high turnover rate will not be successful. “
“However, one area that can grow is the home equity market, as home equity loans allow borrowers to leverage their home equity without having to forgo low interest rates,” he said. he added. “As the home equity loan market is on the muffler, we expect homeowners to begin to consider secondary liens as a viable option for accessing cash. With a focus on technology and creating better experiences for borrowers, Spring EQ is uniquely positioned to help them. “
Nigam has extensive expertise gained in global markets and across all asset classes such as derivatives, options and currencies. He holds a Bachelor of Science in Mathematics and Economics from the University of North Carolina at Chapel Hill.