Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S., has appointed D. James ‘Jim’ Daras as its CEO and president.
Daras’ professional career spans more than four decades in the banking and mortgage banking industry. His specializations include risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital investing, according to a statement from Cenlar.
“Jim is an accomplished and exceptional executive leader with a great deal of experience who will ensure Cenlar continues its commitment to providing high quality service to our customers,” said Dave Applegate, chairman of Cenlar’s board and former CEO of Fannie Mae-Freddie Mac joint venture Common Securitization Solutions, Homeward Residential, Radian Mortgage Insurance and GMAC Mortgage and Bank.
In August 2022, Applegate succeeded Greg Tornquist as the Cenlar FSB chairman.
Daras and Robert “Rob” Lux, Cenlar’s executive vice president and chief operating officer, were appointed co-CEO roles after Tornquist announced his retirement. Lux will continue in the role of COO and will report to Daras.
Daras’ association with Cenlar dates back to 1985 when he initially joined the company. He left Cenlar in 1990 to join New York City-based Dime Bancorp as its chief financial officer but returned to Cenlar in 2015.
He then worked as Cenlar’s chief risk officer from 2015 to 2019 before taking on an advisory role at the company in 2019. Last year, Daras joined Cenlar in a full time capacity as the executive vice president in charge of managing the company’s banking functions.
“I am thrilled and honored to have been named CEO at this point in Cenlar’s journey. Cenlar was built on collaboration, expertise, client and homeowner care, and the ability to transform itself during each part of its journey, and I am confident in Cenlar’s long-term success,” Daras said.
In September 2022, Cenlar hired Gary Gaskin as its vice president of transfer services.
Cenlar currently operates in 50 states and U.S. territories. The company has about 4,000 employees, and the federally chartered wholesale bank’s client base includes banks, credit unions and mortgage bankers.