August 06, 2018 - ADFITECH, Inc. announced today that the Board of Directors has named Thomas "Tom" G. Apel as Chief Executive Officer, who will assume day to day leadership of the company immediately. Mr. Apel founded ADFITECH in 1983 and was actively involved in the company until 2010.
"We are very pleased that Tom has decided to return to ADFITECH. His unique understanding of our business, background and wide range of experience in the real estate lending industry bodes well for our future." said Jon Sion, Chairman of the Board of Directors.
"I would like to thank the Board for their support and the opportunity to guide ADFITECH as we embark on the next chapter of its evolution. I cannot imagine a more important or exciting time to return to the helm. Our future is bright and I look forward to the challenge." said Mr. Apel.
Mr. Apel currently serves as Chairman of the Board of Stewart Information Services Corp. and on various other private boards. Mr. Apel sold ADFITECH, Inc. to Centex Corp in 1996 and shortly after became President of Commerce Title, a Real Estate Title Company, that at the time was owned by Centex Corp. He's remained very active in the Mortgage Industry during his absence from ADFITECH.
Dru Jacobs, President of ADFITECH stated, "Tom's history with ADFITECH, his knowledge of the Mortgage Industry, and his IT background make him the perfect fit for the CEO position at ADFITECH. Tom hired me in 1992. It's an honor to be involved in bringing him back! We have many projects in the pipeline and we look forward to Tom's leadership to continue to keep ADFITECH the premier Quality Control, Due Diligence, and Loan Fulfillment business in the Mortgage Industry!"