NEW YORK CITY-Eastern Union Funding has hiredbanking industry veteran Richard Cassin to lead anewly launched credit quality division, the firm announcedMonday.

Under Cassin's leadership, according to the announcement, thecredit quality division will bolster Eastern Union's relationshipwith the banking community by making mortgage approvals happen morequickly and it will elevate conversion rates on loansubmissions. The unit will work in tandem with a bank'sunderwriting, credit and processing departments.

“Dick Cassin is ideally qualified to ensure that Eastern Unionmaintains and enhances our relationships with lenders,” managingpartner Abraham Bergman—who holds overallmanagement responsibility for the credit quality unit—says in therelease. “He understands first-hand that borrowers and lendersshare a common interest in closing only the best and most securetransactions.”

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.