“We are extremely pleased to have Mr. Wehland and Ms. Colbert taking a more senior role in NCB’s Master Servicing Operations,” said Charles E. Snyder, President and CEO of NCB. “Their extensive experience managing NCB’s investor compliance and servicing of commercial real estate assets will ensure the Bank’s respected reputation in the marketplace. “
As Senior Vice President of Master Servicing Operations, Mr. Wehland will be responsible for managing the Loan Administration and Investor Compliance and Credit Review Teams, which comprise the Master Servicing Operations. Prior to his promotion, Mr. Wehland served for three years as the Vice President of the Washington, DC Metropolitan area Residential Real Estate Group. In this capacity, he was responsible for the origination of home loan financing in the Washington, DC metropolitan area, while also working with clients who wished to purchase a condominium or single-family home.
He joined NCB in 2000 as Assistant Vice President and Manager of Investor Compliance, responsible for the oversight of the collateral aspects of investor reporting and quality control oversight of remittances and ensuring compliance under the Bank’s sale and servicing agreements. In 2002, he was promoted to Vice President. Prior to joining NCB, he served as a Manager overseeing escrow administration with The Patrician Financial Company for two years.
Mr. Wehland holds a Bachelor’s degree in Political Science from the University of Maryland in College Park, Maryland.
As Vice President and Manager of the Investor Compliance and Credit Review Team, Ms. Colbert now reports to Mr. Wehland, and manages and supervises the Investor Compliance Team and the Credit Review Team. In addition to overseeing 16 employees, her new responsibilities include preparation of internal and external investor reports, financial statement analysis and credit review, and insurance and inspection monitoring of cooperative and commercial properties. She will also be in charge of handling investor consent of subordinate debt, assumptions, lease reviews, modifications and defeasance requests, and organize the credit and quality control review for the commercial and SBA loan portfolio.
Prior to this promotion, Ms. Colbert served as Vice President and Manager of Investor Compliance, playing a key role in ensuring compliance for all sold and portfolio loans and maintaining NCB’s ongoing compliance with all laws and regulations set forth by investors. Ms. Colbert began her career at NCB in September 2004 as an Asset Manager for Master Servicing. In 2005 she was promoted to Assistant Vice President. In 2006, she was promoted to Vice President and Manager of Investor Compliance.
Joining Mr. Wehland and Ms. Colbert as a key executive in Master Servicing Operations is Cindy Baker, Senior Vice President, who along with Mr. Wehland was instrumental in creating the platform by which the Bank became a nationally-rated Master Servicer by Fitch Ratings (2001) and Standard & Poors (2002). With Mr. Wehland at the helm, and key executives Ms. Colbert and Ms. Baker, this department is positioned for even greater success, as the team continues to service 4,700 loans totaling $5.8 billion and for compliance with 60 investor pooling and servicing agreements.
As a full-service financial institution, NCB provides term loans, lines of credit, commercial and residential mortgages, and personal and business banking products. In addition, the Bank offers an array of other business banking products via its secure, online cash management platform, including Real Time Deposit, NCB’s remote deposit capture product allowing businesses to efficiently deposit checks via remote scanning services operated at the business’ location. The Bank is also a member of CDARS network, providing customers with a single source for FDIC insurance on CDs up to $50 million.
NCB Financial Group (NCB) consists of National Consumer Cooperative Bank, a wholesale funding company; NCB, FSB, a federally-charted savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit. Loans and other financial services are provided by NCB, FSB and NCB Capital Impact. Deposit products and services are provided by NCB, FSB, which is a member FDIC. Each is a separate corporation within the NCB Financial Group.
NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, NCB also has offices in Alaska, California, New York and Virginia. In addition, NCB has a growing community banking network in southwestern Ohio. To learn more about NCB, visit www.ncb.coop.