Key facts
- Phil Crescenzo Jr. is joining CrossCountry Mortgage (CCM) after a brief period at NFM Lending.
- He will be working with his son, PJ Crescenzo III, to manage a division focused on the Southeast.
- Crescenzo plans to serve borrowers in South Carolina and Georgia, emphasizing FHA and VA loans.
- The team aims to expand credit access, particularly in underserved communities.
- CCM is finalizing its acquisition of Two Harbors Investment Corp.
Phil Crescenzo Jr., a loan officer based in South Carolina, is joining CrossCountry Mortgage (CCM) after a brief tenure at NFM Lending. He will reunite with his son, PJ Crescenzo III, to co-lead a division focused on expanding CCM's presence in the Southeast states, particularly South Carolina and Georgia. Crescenzo plans to leverage CCM's platform and diverse product offerings to serve borrowers, with a specific emphasis on FHA and VA loans, which are crucial for first-time and lower-wealth borrowers. He also sees opportunities in the builder and non-qualified mortgage (non-QM) sectors, requiring flexible underwriting and creative solutions. Crescenzo highlighted CCM's ability to retain servicing on a significant portion of loans as a key advantage. NFM Lending, Crescenzo's former employer, was ranked as the 44th-largest U.S. mortgage lender in the first half of 2026. CCM, currently the fifth-largest U.S. mortgage lender, is nearing the completion of its acquisition of Two Harbors Investment Corp., a move expected to enhance its servicing capabilities and balance sheet capacity.