Cenlar Appoints New Chairman of the Board and Co-CEOs


EWING, NJ–(BUSINESS WIRE)–Cenlar FSB, the nation’s leading mortgage provider and federally chartered wholesale bank, announced that Dave Applegate has been named chairman of the board. Additionally, Executive Vice President and Chief Operating Officer Robert “Rob” Lux has been named co-CEO along with D. James “Jim” Daras, who will also serve as Chairman.

Dave, who has been a board member since 2020, has over 30 years of experience in residential real estate, mortgage banking and housing finance. He was previously CEO of Common Securitization Solutions, LLC, a joint venture owned by Fannie Mae and Freddie Mac. Dave was responsible for building the technology and operational platform for CSS that enabled the launch of the new Uniform Mortgage Backed Security (UMBS). UMBS is second only to US Treasuries in global trading. Dave has also served as CEO of various industry leading organizations including Homeward Residential, Radian Mortgage Insurance and GMAC Mortgage and Bank. He has served on numerous boards including the Fannie Mae Advisory Board, Federal Home Loan Bank of Pittsburgh Board of Directors, GMAC Real Estate, GMAC Mortgage, GMAC Bank (now ALLY Bank) and Anthracite Capital , a subsidiary of Blackrock.

“I am proud to be part of an organization that has become the nation’s leading contractor through a relentless focus on serving our customers and their owners. Continued investment in all aspects of our franchise will ensure Cenlar’s commitment to providing both high quality service to our customers and a rewarding work environment for our talented team,” said Dave.

Jim Daras and Rob Lux were recently appointed to Cenlar’s leadership roles as co-CEOs. Jim has over 40 years of experience in the banking and mortgage industry. He has extensive knowledge of risk management, banking and corporate finance functions, bank restructuring, recapitalization and mergers and acquisitions. He joined Cenlar from 1985 to 1990, leaving his position as chief financial officer to join Dime Bancorp in New York. Jim returned to Cenlar in 2015 as Executive Vice President where he was named Chief Risk Officer. In 2019 Jim moved into an advisory role at Cenlar where he worked alongside former Chairman, President and CEO Greg Tornquist and the Board of Directors. He joined Cenlar full-time in 2022 as Executive Vice President to manage corporate banking functions. As President and Co-Chief Executive Officer, Jim continues to manage all banking functions, capital markets, finance and risk activities.

Rob also has over 30 years of financial services experience, primarily in the mortgage industry, as well as a deep understanding of how technology can be used to enable business. As co-CEO, he is responsible for Cenlar’s operations and technology, business development, client management, human resources, legal affairs, corporate communications and marketing. He joined Cenlar in 2017 as Chief Information Officer and was named Executive Vice President and Chief Operating Officer in 2019. Prior to joining Cenlar, Rob served as Executive Vice President, Chief Information Officer of Freddie Mac for seven years, where he was responsible for all news. Technology. He has also held senior positions at Towers Watson, GMAC Financial Services (now Ally), Electronic Data Systems and Reuters.

Former Chairman of the Board, President and Chief Executive Officer, Greg Tornquist, has announced his retirement from Cenlar. Greg, who worked at Cenlar for 35 years, was instrumental in building the company’s mortgage sub-service platform.

About Cenlar FSB

Cenlar FSB is an employee-owned, federally chartered wholesale bank that services loans in 50 states and its U.S. territories. As the country’s leading contractor, Cenlar enjoys a loyal and growing customer base, including banks, credit unions and mortgage bankers. Our nearly 3,000 employees, strategically located across the United States, are dedicated to customer satisfaction and teamwork that generate customer solutions unmatched in quality, flexibility and innovation. Based in Ewing, NJ, Cenlar is rated and audited regularly by independent third parties.

For more information, visit www.cenlar.com.

Find us on LinkedIn here: https://www.linkedin.com/company/cenlar-fsb/


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