Promontory MortgagePath, a provider of next-generation mortgage technology and loan fulfillment services, recently announced three senior-level hires.
Colgate Selden has joined Promontory MortgagePath as chief compliance officer and will report to CEO Bruce Witherell, according to a press release. Scott Doughty and Craig Wildrick have joined PromonTech, the company’s mortgage technology unit, as chief operating officer and chief product officer, respectively. They will report to PromonTech Chief Technology Officer Michael Kolbrener.
“Integrating industry expertise with advanced technological know-how is one of two guiding principles of Promontory MortgagePath; the other is investing in the best talent,” Witherell said in the release. “The additions of Colgate, Scott, and Craig significantly strengthen our team. Their expertise will accelerate and enhance the solutions that we bring to market.”
Doughty will manage corporate oversight of all client-facing functions and Wildrick will be responsible for developing, implementing and continuously improving the company’s lending technology portfolio. Selden joins Promontory MortgagePath from Alston & Bird, a leading international law firm, where he was a consumer finance regulatory partner, counseling clients on the full range of federal and state compliance issues.
Previously, Selden was a senior counsel in the Office of Regulations at the Consumer Financial Protection Bureau (CFPB). During his time at the CFPB, Selden was a member of the Loan Originator Compensation, Ability-to-Repay (ATR), TILA-RESPA Integrated Disclosure (TRID), Home Equity Line of Credit (HELOC), and Alternative Mortgage Transaction Parity Act (AMTPA) rulemaking teams, where he contributed to the development of these industry-changing rules and clarifications. Among other roles, he additionally served as the Office of Regulations lead for TILA mortgage regulatory inquiries from industry, Congress and consumer groups. He also was a senior advisor for RESPA Section 8, Regulation P and Fair Debt Collections Practices Act (FDCPA) policy. Before joining the CFPB, Selden was an attorney with the U.S. Department of the Treasury, where he was a member of the CFPB Implementation team that developed policies on initial CFPB authorities and TRID disclosure prototypes.
Doughty joins PromonTech from Finastra, a top five global FinTech company. During his 17-year tech career, he held several senior roles, including the head of client services for D+H’s retail business unit, vice president of client services at Harland Financial Solutions and chief operating officer of Financialware. Previously, Doughty led a regional financial institution consulting practice for RSM, a national CPA and consulting firm.
Wildrick is a seasoned financial services veteran with deep ties in the mortgage origination, servicing operations, and technology fields. Prior to joining PromonTech, Wildrick was the executive vice president of Enterprise Mortgage Lending of Zions Bancorporation where he oversaw the mortgage lending division in six affiliate banks. Wildrick was also the chief operations officer of Aurora Bank, where he was responsible for improving operation efficiency, control and technology. Before joining Aurora, Wildrick held multiple executive positions within Wells Fargo.