DALLAS, March 7, 2013 /PRNewswire/ -- Vericrest Financial, Inc., a premier financial services company specializing in the servicing of residential mortgage loans, today announced that Joe Anderson has been appointed Chairman and Chief Executive Officer of Vericrest, effective immediately. As previously announced, on January 17, 2013, Vericrest agreed to combine with Caliber Funding, LLC to create a full-service, residential mortgage banking organization offering both loan origination and loan servicing solutions to its customers. In light of customary regulatory and legal conditions and approval, the transaction is expected to close within four to six months. Mr. Anderson will lead the integration process and assume the role of Chairman and Chief Executive Officer of the combined organization. Mr. Anderson is a well-known leader in the mortgage banking industry with 31 years of experience. His extensive background includes expertise in production, capital markets, operations, finance, technology, credit and governance. Prior to joining Vericrest, Mr. Anderson served as Senior Managing Director of Countrywide Home Loans' prime retail lending division. In this role, he led all origination channels including distributed retail branches, centralized consumer direct, strategic alliances, home builder, relocation, servicing recapture and internet lending. In addition, he led finance and operations support for originations, which included loan fulfillment, technology integration, process improvement, profit and loss management and capacity planning. In previous senior level roles with other mortgage organizations, he led capital markets functions including hedging, loan securitization and product development. Mr. Anderson has also held senior leadership positions at First Horizon Home Loans, CC Mortgage, SWS Mortgage, MPACT Mortgage and Nationstar Mortgage. About Vericrest Vericrest Financial, Inc. is a premier financial services company specializing in the servicing of residential mortgage loans in all 50 states. Through three Centers of Excellence in Texas, Oklahoma and California, Vericrest provides superior service and innovative solutions to meet the needs of our customers and investors while maintaining the highest levels of integrity and compliance. Vericrest's servicing portfolio currently includes approximately 55,600 mortgage loans with an aggregate outstanding principal balance of $10.1 billion. To learn more about Vericrest, visit www.vericrestfinancial.com or call 1-800-401-6587. SOURCE Vericrest Financial, Inc.