Rico Garcia has been promoted to vice president, enterprise risk, at Waterstone Mortgage, a wholly-owned subsidiary of WaterStone Bank SSB, which, in turn, is a wholly-owned subsidiary of Waterstone Financial.
Garcia has more than 20 years of experience in the mortgage lending industry. In his new role as VP of enterprise risk, he oversees the mortgage quality control, title services, portfolio risk management, and compliance teams.
Aside from providing general oversight in these departments, he also works with the company’s other corporate teams to identify efficiencies, lead cross training efforts, and solidify communication with both internal and external customers.
“I am looking forward to the opportunities my new role will bring,” Garcia says in a release. “One of my favorite aspects of this position is having the ability to learn new facets of our industry while working toward a common goal with my team members and colleagues.”
Garcia joined Waterstone Mortgage in July 2017 as the quality control manager. Previously, he had held various positions in mortgage lending, including roles as a loan originator, processor, and underwriter. He also co-owned and managed a mortgage due diligence firm.