Cenlar FSB announces new co-CEOs

Cenlar FSB, a mortgage subservicer and federally chartered wholesale bank, has announced that Greg Tornquist has stepped down from his position as CEO, president, and chairman of the board after 35 years with the company. As a result, Cenlar has made key appointments to fill the vacant roles.

Dave Applegate, who has been a board member since 2020, was named chairman of Cenlar’s board of directors. Applegate most recently served as CEO of Common Securitization Solutions – a joint venture owned by Fannie Mae and Freddie Mac – and brings over three decades of housing industry experience to his new role.

Cenlar also appointed chief operating officer Robert Lux as co-CEO, along with James Daras, who will also serve as president. Daras has more than 40 years of experience in the mortgage banking industry, and Lux has over 30 years of experience.