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Sal Cefalu, President of All American Mortgage Bankers, began his career in the finance community in 1980 as a very successful insurance agent and financial planner with Prudential insurance. As part of his duties as a Certified Financial Planner Sal began to assist his customers with restructuring their finances. Naturally, the refinancing of people’s homes became an integral part of the procedure for securing the client’s future.
As a result Sal decided to obtain a mortgage broker’s license; which afforded him the opportunity to become an entrepreneur in his own right.
The name of the mortgage broker firm was Cefalu Funding. As volume increased on a yearly basis the next logical step was to open a mortgage bank. In 1989 Sal applied for and received his mortgage banker license for the state of New York. In April of 2003 the bank name was changed to All American Home Mortgage Corp. D/B/A All American Mortgage Bankers.
Another important person in the development of All American Mortgage Bankers is Rosalie M. Cefalu. She began her career in 1982 in the insurance business where Ms. Cefalu was a successful agent with Prudential Insurance Co. The insurance aspect of her experience includes Property and Casualty and Life and Health insurance. The experience she retained from the sale of insurance led to an interest in mortgage banking. As a result, Ms. Cefalu completed a Certificate of Mortgage Banking at New York University. With this knowledge she opened All American Home Mortgage Corp. D/B/A All American Mortgage Bankers
in conjunction with Salvatore Cefalu.
Salvatore V. Anello has brought 21 years of experience in credit and financial analysis for residential, commercial and sub-prime loans to the company. From 1982-1989, he was a Senior Mortgage Underwriter for Citibank. Mr. Anello assisted in implementing the SONYMA Affordable Housing Program with Citibank; he launched successful lotteries and qualified applicants in five state offerings. He also assisted in developing the basis for FNMA Desktop Underwriter through the implementation of a credit scoring system known as Mortgage Power Plus. From 1989 to 1997 Mr. Anello worked as an underwriter and operations manager for a major mortgage banker as well as developing his mortgage origination skills in other positions. Mr. Anello then became partners with Salvatore Cefalu and Rosalie Cefalu in 1998; and has been helping All American grow ever since.
All American is HUD Direct endorsed for both 203(b) and 203(k) loans; and licensed for both Title I and Title II mortgages. The added approvals of VA, RD and SONYMA have helped to expand our underwriting and product experience. Our underwriting is done both manually and through the usage of FNMA Desktop Underwriter and Freddie Mac Loan Prospector.
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