Category: Press Releases

First Community Bank adds local mortgage executive to Board of Directors

April 21, 2021

First Community Bank (FCB) has added Keith Canter to its Board of Directors. Canter is CEO of First Community Mortgage, and one of the 19-year-old organization’s founders.

“Keith already has a close working relationship with the bank and with so many people in our community that his joining First Community Bank’s board is a natural,” says Scott Cocanougher, CEO of the bank, who also is a board member. “He brings tremendous talents and experience to our organization and understands well its unique role in the community, including our emphasis on people and on community reinvestment.”

Canter is a financial services executive and entrepreneur. In addition to his role of CEO of First Community Mortgage (FCM), he also serves as Chair and President of FCM Cares, FCM’s employee-driven, community-focused foundation. Based in Murfreesboro, FCM is a full-service residential mortgage lender that originates mortgages in 46 states. Canter was previously a partner in Cambridge Equities, LLC, and served on the Advisory Board for the Tennessee Housing Development Agency.

“I am honored and excited to join the bank’s board, especially knowing First Community Bank’s heart and investment are in the community, including its focus on people – from its team members and shareholders to the citizens of the communities we serve,” Canter says. “I look forward to lending whatever expertise I can while also learning how I can help this hometown bank continue to be best positioned to serve future generations of Middle Tennesseans.”

In addition to Canter, other members of First Community Bank’s board are Lee Adcock, general contractor; Mark Cannon, retired telecom executive; Dr. Jimmy Clark, retired dentist; Tom Clifford, retired, First Community Bank; Cocanougher; and Barry Cooper, private investor.

View original press release here: https://news.murfreesboro.com/first-community-bank-adds-local-mortgage-executive-to-board-of-directors/

Award-Winning Mortgage Loan Originator Joins FCM

March 23, 2021

FCM has named mortgage veteran Billy M. Harter as a Vice President based in FCM’s Cool Springs office in Franklin. While the majority of his borrowers are in Middle Tennessee (including Nashville, Brentwood, Franklin, Thompson’s Station, Spring Hill, Columbia, Murfreesboro, Mt Juliet and more), he can originate mortgages for consumers in the many markets in which FCM is licensed across the country.

“Billy strategizes so that he helps every borrower meet their short- and long-term needs and financial goals,” says Dan Smith, President of First Community Mortgage. “And is especially adept at helping homebuyers and working with a full range of mortgage products, from conventional and jumbo to FHA, VA and USDA. He prides himself on leveraging FCM’s internal resources and people power to create a smooth lending process and, whenever possible, quick closings, which makes him a great fit for our team.”

Harter has been in the financial industry for 15 years, closing over half a billion in mortgage loans. He has been recognized and received awards every year since 2008 by the Nashville Mortgage Bankers Association for loan production. Harter also keeps an umbrella of other resources borrowers may need, such as referrals to trusted insurance, tax, estate or financial planning pros. He was previously with FirstBank Mortgage (formerly Franklin Synergy).

“I get to know my borrowers, taking into account current economic conditions,” Harter says. “I offer an extensive line of loan products and manage the entire process so that there are no surprises.”

He holds a Bachelor of Business Administration from the University of Memphis-Fogelman College of Business & Economics, where he majored in Finance with a concentration in Real Estate. He lives in Columbia with his wife and children.

Also joining First Community Mortgage are Harter’s colleagues Jason Kaplan and Johnny Smith, as well as the team members who support them across the many aspects of the loan processes.

View original press release here: https://www.prnewswire.com/news-releases/award-winning-mortgage-loan-originator-joins-first-community-mortgage-301253692.html

FCM Names New VP Of Regional Production

March 19, 2021

Navi Persaud – NMP Daily

First Community Mortgage (FCM) has named Johnny Smith Vice President of Regional Production. He has more than 20 years of experience in the mortgage industry. 

“Johnny has managed both Operations and Sales, so he is very in tune with all areas of the business, which helps him help our team avoid any surprises for our customers,” says Dan Smith (no relation), president of FCM, according to a press release. “While he does not often have direct customer interaction, they benefit from his expertise, as he ensures the workflow continues moving efficiently and accurately, with ongoing improvements.”

Johnny Smith is based in FCM’s Cool Springs office in Franklin. He comes to the organization as part of the team including Jason Kaplan and Billy M. Harter – whose operational efforts he coordinates – as well as those who support the team across the many aspects of the loan processes.

“We offer loan programs to fit everyone’s needs, but most importantly, a team that will help guide borrowers through the process. Our team has the experience and insight that benefits borrowers, and I focus on processes and improvements that ensure a great lending experience, whether the customer is a first-time home buyer or has purchased or refinanced a number of homes,” said Smith.

In addition to previously working with First Community Mortgage, including serving as manager of Branch Operations, Product Support, and later branch sales manager, Smith was the operations manager at a regional bank and last served as vice president and sales manager for First Bank (formerly Franklin Synergy Bank).

View original press release here: https://nationalmortgageprofessional.com/news/76542/names-regional-production

Quite the Last Week in Interest Rates

March 3, 2021

We had quite a bit of optimism toward the U.S. economic recovery last week. Daily COVID-19 case counts fell further from their January peak, and vaccinations continued across the country. No one for sure knows if the pandemic will fade away into the summer. But the pandemic is not the only thing driving rates. Economic data last week beat expectations. And in Washington DC, President Joe Biden’s $1.9 trillion stimulus proposal moved forward, which would accelerate the rebound even more.

All of these developments fueled a sudden shock in the Treasury and mortgage-backed security markets. Good news for the economy tends to push rates higher whereas news that the economy is slowing tends to lead to lower rates. The benchmark U.S. 10-year yield hit 1.61 percent on Thursday, its highest level in a year.

A new stimulus is expected to lead to faster economic growth and inflation. Could the Federal Reserve predict what would happen politically in Washington? Of course not. The stimulus is forecast to push inflation higher, probably faster and farther, than our Federal Reserve’s economists expected. Even Fed Chair Powell agreed with the market in expecting a “robust and ultimately complete recovery” but stated that the Fed won’t cut down on asset purchases or consider rate hikes until it sees “substantial further progress” toward its inflation and employment targets.

Many believe that last week’s price moves were less inspired by rate-hike expectations and simply a case of “buying the fundamental dip” before strong economic growth. Although it won’t help the pool of available borrowers to refinance, there’s room for yields to climb higher still. Real yields, which are nominal yields adjusted for inflation, remain negative, signaling there’s still enough weakness in the economy to warrant parking cash in the safe haven.

The Federal Reserve’s Open Market Committee will likely move first in this case to avoid additional Treasury-market drama, but the Fed won’t have the luxury of waiting for the next meeting and will have to respond to the abrupt market moves in speeches this week.

Despite what moves the Fed makes, at First Community Mortgage we are keeping an eye on the markets, honor rate locks, will continue to focus on our brokers’ business.

New VP for First Community Mortgage in St. Augustine

March 2, 2021

FCM has named Cassidy Spencer Vice President. She has nearly 20 years’ experience in the industry and can originate mortgages for consumers in the many markets in which FCM is licensed across the country.

“Cassidy is a great fit for our team,” says Dan Smith, President of First Community Mortgage. “In addition to being a talented mortgage lender, she has a laid-back demeanor that puts clients at ease while also being able to hold those involved in the mortgage process accountable, thus keeping things moving efficiently toward closing. Her approach creates a service experience that is incredible, and that’s why her client love her and rely on her again and again.”

The California native prides herself on being well versed on lending and on the real estate business. In fact, Spencer has held a real estate broker’s license for 19 years. She provides a full range of residential mortgage products, including purchases, refinance, construction and home equity loans, and is adept at helping clients with first-time homebuyer programs, conventional financing and VA, Jumbo, FHA and USDA programs.

Away from work she enjoys running, golfing, singing, snowboarding, ATV quading, fishing, wakeboarding and spending quality time with friends and family, which includes her husband and their two sons. They reside in St. Augustine.

View original press release here: https://www.prnewswire.com/news-releases/new-vp-for-first-community-mortgage-in-st-augustine-301237723.html

CEO Keith Canter speaks with NBJ on the state of Nashville’s housing market

January 11, 2021

By Carol Smith  – Research Director, Nashville Business Journal

While the pandemic has slowed down much of the economy, Nashville’s home sales have been on the rise in recent months. According to data from Greater Nashville Realtors, the nine-county area they cover showed a 14% year-over-year increase in November and a 17% increase in both October and September.

And, with interest rates being at historic lows, we wondered about the impact on the local housing market. First Community Mortgage is one of the largest homegrown mortgage lenders in Nashville, and we asked a few questions of their CEO, Keith Canter.

Read the rest of the article on the Nashville Business Journal website: https://bizj.us/1q885p