Chrissi Rhea, Mortgage Investors Group co-founder, has died

[ad_1] Chrissi Callaghan Rhea, co-founder of Mortgage Buyers Group and member of the Mortgage Bankers Affiliation (MBA) board of administrators, died on Nov. 8, on the age of 73.

“Chrissi was a pioneer within the business, co-founding MIG within the late Eighties and main the corporate till only a few months in the past,” MBA president and CEO Bob Broeksmit mentioned in a press release.

Rhea co-founded Knoxville-based MIG in 1989. However along with her place as president and CEO on the firm, she held varied roles for the MBA, together with present board member and chair of the MBA residential board of governors in 2023. She was additionally an engaged member of the IMB government council.

Considered one of her contributions to the business was being a “driving pressure” behind MBA’s efforts to ban abusive mortgage set off leads, Broeksmit mentioned.

Rhea was a HousingWire Lady of Affect in 2021. When COVID-19 hit, she swiftly applied a work-from-home program for over 300 workers throughout a number of states.

“My coronary heart is heavy for her household and her colleagues. She was only a great chief for the business, and somebody we’re going to drastically miss as each an business chief and an advocate for the MBA,” mentioned Gene Lugat, government vp of PrimeLending and Rhea’s successor as residential boards of governors chair in 2024.

“We first crossed paths in a peer group assembly round 2015. She was one of many few girls within the room,” added Kate deKay, CEO of Eustis Mortgage. “She was a real pressure–a pacesetter who had the utmost respect, but was unpretentious, heat and splendidly actual.”

Rhea’s son, Kevin Rhea, who labored along with her at MIG for over 20 years, mentioned she was a “pressure in mortgage banking.”

“Beginning Mortgage Buyers Group with a handful of individuals in 1989, she constructed it into one of many Southeast’s main mortgage lenders, all whereas championing honest lending and inexpensive housing.”

As of Friday, per the Nationwide Multistate Licensing System (NMLS), the mortgage lender had 150 sponsored mortgage officers and 43 lively department places. In line with tech platform Modex, the lender has originated about $940 million in loans during the last 12 months.