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Clayton-based FinLocker hires Fannie Mae executive as CEO

Clayton-based FinLocker hires Fannie Mae executive as CEO

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FinLocker, a Clayton-based technology startup that aims to revolutionize the mortgage-application process, has recruited a high-ranking Fannie Mae executive as its new chief executive.

Henry Cason, Fannie Mae's senior vice president for digital products, succeeds FinLocker co-founder Peter Esparrago as CEO. Esparrago will stay on as chairman.

FinLocker's software helps consumers assemble a digital financial profile before applying for a mortgage, allowing lenders to make a customized offer and then process the loan faster.

"I look forward to leading FinLocker’s growth strategy as the company solidifies its proficiency in consumer mortgage readiness and expands into additional consumer financial channels," Cason said in a statement.

In October, FinLocker raised $19.8 million from investors and announced a commercial partnership with TransUnion, a major credit bureau.

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