Ewing, New Jersey-based mortgage loan subservicer and federally-chartered wholesale bank Cenlar FSB has announced the appointment of D. James “Jim” Daras as its new CEO and President.
Daras has more than 40 years in the banking and mortgage banking industry, with extensive experience in risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital investing.
Last summer, Daras, along with EVP and COO Robert Lux, were both appointed co-CEO after Chairman of the Board, President, and CEO Greg Tornquist announced his retirement from Cenlar. Lux will continue in his role of COO reporting to Daras.
“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 Cenlar Chairman of the Board Dave Applegate.
Daras originally joined Cenlar in 1985, and remained until 1990, leaving his post as CFO to join Dime Bancorp in New York City. Until returning to Cenlar in 2015, Jim worked with several venture capital firms investing in financial services companies, including Loan Servicing Solutions in 2007, where he served as CEO. Jim was EVP and was appointed Chief Risk Officer at Cenlar. In 2019, Jim moved to an advisory capacity before returning full time to manage the company’s banking functions. He joined Cenlar full time in 2022 as EVP to manage the company’s banking functions.
“I am thrilled and honored to have been named CEO at this point in Cenlar’s journey,” said Daras. “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.”
Cenlar boasts a loyal and growing client base including banks, credit unions and mortgage bankers. The company’s nearly 4,000 employees, strategically located throughout the U.S., are dedicated to customer satisfaction and teamwork that drives client solutions.