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Growth, Significant Increase in Loan Volume Leads Secured Funding to New CFO --Phil Dandridge brings more than 20 years of expertise in the financial industry—
Monday, September 12, 2005 -
COSTA MESA, Calif. - Secured Funding, a full-service retail and wholesale lender specializing in second mortgages, appointed Phil Dandridge as chief financial officer (CFO). Dandridge is responsible for capital formation, developing Secured Funding's budget and financial plans and managing the Accounting division's delivery of accurate, reliable data for outside investors and Secured Funding's internal retail and wholesale operations. He plans to expand Secured Funding's sources of capital, ensuring that the company has the financial resources necessary for continued growth. Additionally, Dandridge seeks opportunities where the organization can increase revenue, profits and improve cash flow.
Dandridge, with more than 20 years of financial industry experience, has spent the last seven years of his career with Edison International where he was the CFO of Edison Capital. Prior to Edison Capital he worked for more than 17 years with the McDonnell Douglas/Boeing organization in a number of positions. When Dandridge left Boeing he was the treasurer of Boeing Capital Corporation. He has significant experience in the capital markets and working with the banking community.
Dandridge has spent the majority of his career working within some of the fastest growing subsidies of organizations ranked on the Fortune 100 list of companies. He has earned his bachelors and masters degrees from the Marshall School of Business at the University of Southern California.
"As Secured Funding continues to grow with innovative loan products and business opportunities, leadership of the financial department becomes increasingly more important," said Lorne Lahodny, president and CEO of Secured Funding. "Phil has experience with working in entrepreneurial environments similar to Secured Funding. Our business model entails a strong commitment to delivering the most efficient loan products and customer service in the industry. Phil's qualities align with our model and will help Secured Funding enhance our business processes and strengthen the financial department."
About Secured Funding Corporation.
Secured Funding Corp. (www.securedfunding.com) is a future-focused mortgage banker committed to leading the home equity revolution in America. The lender funds approximately $125 million in HELOC and home equity loans each month. Secured Funding remains positioned as the home equity specialist over recent years of market fluctuation by constantly improving speed, efficiency, and the overall customer experience. Placing an emphasis on innovation and emerging technology, the company has developed RiLOS and SelectQual, an advanced loan operating system and automated underwriting engine. Together these technologies reduce funding time by weeks. As a leader of home equity loans, Secured Funding has grown to serve a market often overlooked by traditional firms, thus providing lending value and strengthening connections between customers, brokers, and investors. The company's operations are centralized by technology through its state-of-the-art headquarters in Costa Mesa, California. Secured Funding was founded in 1993 and today has more than 750 employees and operates in 35 states.
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