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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsGenWay Home Mortgage appointed Phil Riccio executive vice president of capital markets on Oct. 15, 2026, adding an executive with experience building wholesale and correspondent operations. The hire comes as GenWay expands its Open Mortgage Wholesale channel and deploys underwriting automation for Non-QM and Ginnie Mae lending.
What GenWay announced
GenWay said Riccio will lead capital-markets strategy, operational excellence and the infrastructure supporting its lending platforms and industry relationships. His remit covers functions that influence how a mortgage lender prices loans, sells or funds them in the secondary market, manages investor relationships and scales products through broker and correspondent channels.
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The appointment is part of GenWay’s expansion of wholesale and correspondent lending. Those channels allow mortgage brokers and other lending partners to submit loans to GenWay rather than originating every loan directly with the consumer.
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Who Phil Riccio is
Riccio most recently served as executive vice president of capital markets at AmeriTrust Mortgage. Before that, he joined Panorama Mortgage Group in February 2022 as senior vice president of capital markets. He later became executive vice president of capital markets and third-party origination (TPO), and Panorama named him chief financial officer in January 2025.
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At Panorama, Riccio created a correspondent and wholesale channel that produced $70 million in monthly volume, according to Panorama Mortgage Group’s 2025 figure. Earlier in his career, he held roles at Stearns Lending and Caliber Home Loans.
Riccio’s career timeline
| Period | Role or achievement |
|---|---|
| Before 2022 | Held mortgage-industry roles at Stearns Lending and Caliber Home Loans. |
| February 2022 | Joined Panorama Mortgage Group as senior vice president of capital markets. |
| Later at Panorama | Became executive vice president of capital markets and TPO; built a correspondent and wholesale channel producing $70 million per month in 2025. |
| January 2025 | Named Panorama’s chief financial officer. |
| October 15, 2026 | Appointed GenWay Home Mortgage executive vice president of capital markets. |
Why the appointment matters to GenWay’s TPO strategy
TPO means third-party origination, the portion of mortgage production generated through brokers, correspondents and other outside partners. A capital-markets executive is central to that model because partner-facing lending depends on competitive pricing, reliable turn times, clear eligibility rules and the ability to execute loans with investors after closing.
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Riccio’s Panorama experience is directly relevant: he has previously built the infrastructure and relationships needed to grow wholesale and correspondent volume. At GenWay, that background can support expansion of the company’s partner network while coordinating product design, pricing and secondary-market execution. GenWay has not published a forecast for volume or market share, so the effect of the hire should be viewed as a strategic objective rather than a promised production result.
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What Open Mortgage Wholesale offers
GenWay’s wholesale operation uses the Open Mortgage Wholesale name, identified as a doing-business-as (DBA) name of GenWay Home Mortgage. Its stated offerings include:
- Non-QM loans: mortgage products for borrowers or circumstances that do not fit standard qualified-mortgage underwriting parameters.
- Government-backed lending: programs associated with federal housing agencies, including Ginnie Mae-eligible production.
- Down-payment assistance: options intended to help eligible borrowers cover some of the upfront cash required to purchase a home.
For brokers and correspondents, the practical value of these offerings depends on the lender’s current overlays, pricing, geographic availability, documentation rules and service levels. Those details can change and were not specified in GenWay’s announcement.
How Tavant TOUCHLESS fits the expansion
The capital-markets appointment followed GenWay’s Sept. 17, 2026 announcement that it had gone live with Tavant’s TOUCHLESS platform across its Non-QM and Ginnie Mae lending segments. GenWay said the platform provides intelligent data and document processing, workflow automation and guided task execution tailored to non-QM and government-lending requirements.
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The rollout plan called for six underwriting-automation products to move into production within three months, according to Tavant’s 2026 announcement. The stated goal is to reduce manual underwriting work and make loan manufacturing more consistent as production grows.
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchWhat the technology is intended to do
- Extract and process information from borrower data and loan documents.
- Automate steps in underwriting and loan workflows.
- Guide staff through tasks specific to Non-QM and government-backed requirements.
- Support higher throughput without relying on a matching increase in manual processing.
Automation does not eliminate the need for underwriter judgment, quality control or compliance review. Its effect on approval times, defect rates or borrower outcomes will depend on implementation and was not quantified in the announcement.
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The two-part growth plan
Read together, the October capital-markets appointment and September technology deployment point to two complementary priorities:
| Priority | GenWay action | Potential operating role |
|---|---|---|
| Market access and execution | Hired Riccio to lead capital markets while expanding wholesale and correspondent channels. | Strengthen pricing, investor relationships, secondary-market execution and partner-channel infrastructure. |
| Production capacity | Deployed TOUCHLESS in Non-QM and Ginnie Mae segments, with six automation products planned for production within three months. | Reduce manual underwriting activity and improve the scalability of loan manufacturing. |
This is an interpretation of the two dated announcements, not a separately stated GenWay forecast. GenWay CEO and president Greg Reed said the company is committed to building a lending operation that is “both efficient and adaptable” as the business grows.
What brokers and correspondents should watch
Riccio’s appointment alone does not establish new rates, products or approval standards. Partners evaluating Open Mortgage Wholesale will need to verify the current product matrix and operational terms directly with GenWay. The most consequential indicators will be:
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- Whether product breadth expands beyond the stated Non-QM, government and down-payment-assistance offerings.
- How pricing and lock execution perform as correspondent and wholesale volume increases.
- Whether automated workflows shorten turn times while maintaining documentation and compliance quality.
- How quickly the six planned automation products reach production and which loan tasks they cover.
- Whether GenWay’s investor and broker relationships support consistent execution across market conditions.
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