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New American Funding Opens Camarillo Branch

Orange County-based mortgage lender New American Funding has opened a new branch in Camarillo. The full-service outlet sells and refinances a range of loan products to homebuyers and investors. “We’re excited to bring New American Funding’s presence to Camarillo,” said Branch Manager Todd King. “Not only do we offer industry-leading close times for our customers, but we offer a variety of different loan programs for homebuyers.” King says he plans to utilize New American Funding’s marketing technology to better serve homebuyers. “Todd is extremely well-respected in his community and the clients really respect him as well,” said Regional Manager Virginia Martinez in statement. “He’s a seasoned veteran in his market and is the perfect person for this branch and location.” The new branch is located at 333 N. Lantana St. The company also has offices in Van Nuys, Palmdale and two in nearby Oxnard. CalArts Fundraiser California Institute for the Arts has Terry Morello as vice president of advancement and eternal affairs, the Valencia-based professional arts college announced July 18. Morello had served in the position on an interim basis for the past seven months, overseeing all fundraising efforts, alumni and community relations as well as business development opportunities. “Terry has a proven track record of fundraising success in the arts,” said CalArts President Ravi Rajan in a statement. “Having worked closely with her now for the past seven months, I know Terry brings the experience, knowledge and leadership to play a critically important role here at the institute. CalArts is fortunate to have a talent like Terry Morello leading our fundraising team.” Prior to joining CalArts, Morello held fundraising roles for more than 25 years at institutions including UCLA School of the Arts, UCLA Hammer Museum, Los Angeles County Museum of Art and the Public Theater in New York City. Mission Valley Earnings Mission Valley Bancorp announced earnings for the first half of 2018 of $2.17 million, a slight decrease from the $2.21 million posted last year. Chief Executive Tamara Gurney said the Sun Valley bank “deemed it prudent” last year to move some of its capital to lower-interest private debt instruments, accounting for the decrease in net income. Also, gains from the sale of SBA loans in the secondary market dipped slightly during the first half of the year. “Mission Valley is a relationship driven, community-based business bank dedicated to maintaining our high touch, personal service culture,” Gurney said in a statement. “The combination of a sound, diversified balance sheet, solid capital base and strong team continue to steer our course of steady and controlled growth throughout the remainder 2018 and beyond.” IPayment Layoffs Credit card payment service provider iPayment Holdings Inc. will lay off 30 employees from its Westlake Village headquarters in September, according to the company and the state Employment Development Department. The company filed a Worker Adjustment and Retraining Notice with the state on July 18, just a month after Paysafe Group, in London, finalized its acquisition of iPayment. Kate Aldridge, vice president of corporate communications for Paysafe, said in an email to the Business Journal that the company does not take lightly the decision to cut staff. “We are now working hard to support those affected by providing wide-ranging assistance, both in terms of the severance packages we are offering as well as the job-seeking support we are organizing,” Aldridge said in the email. IPayment provides payment and processing solutions for small and medium-sized businesses. Last year, the company generated processing volumes of more than $25 billion from more than 137,000 merchant customers across the United States. Intuit Shrinks Footprint Financial software developer Intuit Inc. is cutting back on its leased space in Woodland Hills as it relocates this fall. Intuit, headquartered in Mountain View, currently occupies about 170,000 square feet in an office complex at 21215 Burbank Blvd. After the lease expires in September, it will relocate to 53,000 square feet in the Warner Center Towers at 21650 Oxnard St., according to CoStar Group Inc. The real estate database and news website reported that Chris Glennon, vice president of global real estate and workplace for Intuit, said the company had been looking since last year at the options of either renovating its space or relocating. “We knew we wanted to change to a different type of space – more open, collaborative with updated furnishings and technology,” Glennon said in a statement to CoStar Group. “So, we opted to move instead of remodel in the current site. We are excited about the move; it’s the right size and space for our future work needs.” Intuit has about 300 employees in its Woodland Hills office, all of whom will make the move to the new offices, Glennon told CoStar. Staff Reporter Ethan Varian can be reached at (818) 316-3130 or evarian@sfvbj.com.

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