He says homeownership is crucial to achieving generational wealth
Minnesota-based Granite Mortgage has announced the appointment of Ricky Cheath (pictured) as senior vice president of regional development and diversity lending.
Cheath joins Granite with over 18 years of industry experience, which includes key leadership roles at a major bank. Most recently, he spearheaded retail sales across multiple states in the Upper Midwest for a national independent mortgage bank.
Throughout his career, Cheath has received several awards for his contributions to affordable housing and community engagement. He is also on the executive board for Housing First Minnesota Foundation, which is involved in building transitional homes for the homeless, including veterans.
Commenting on the appointment, Granite Mortgage CEO Jacob Reiter called Cheath a “game changer” who is able to make “everyone around him better.”
“He is going to add value to our company as we grow strategically throughout the upper Midwest and beyond – through his network and connections, but also from his experience as a mentor and leader,” said Reiter. “He'll open new doors for Granite and I'm excited for what the future holds.”
Cheath is a first-generation Cambodian refugee, whose family fled their war-torn homeland during the Khmer Rouge regime. He said this experience has motivated him to pursue roles that emphasize the importance of homeownership in achieving generational wealth.
“I am in this business because my passion, what fills my cup, is helping people achieve generational wealth through sustainable homeownership,” he said. “Having stable, dignified housing that you can call your own is still part of the American Dream. I'm proud to say that I'm living that American dream, and I'm honored to help thousands of others achieve their version of the American dream.”
Cheath also served as president of the AREAA Twin Cities Chapter and remains an advisory board member. He attended the Minnesota State University - Mankato and began his career as a loan originator before transitioning to correspondent lending.
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