MReport July 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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10 | M R EP O RT respondent channel's steady growth." Loving, one of the founders of the correspondent lending industry, led the correspondent divisions at Wells Fargo Home Mortgage and Fleet Mortgage Corp. for more than two decades. Prior to joining Planet, he was National Sales Manager at HomeBridge Funding. Darter also came to Planet from HomeBridge, where she was Director of Operations. "Mary has an amaz- ing ability to identify the best people, technology, vendors, and processes to efficiently increase our production," Bosley said. Planet Home Lending is the fifth- largest government correspondent lender and is on track to reach an estimated $27 billion in annual volume in 2021. Adam Spigelman and Saul Walle are now SVPs, Portfolio Retention Sales. "After joining Planet three years ago, Adam and Saul set to work trans- forming our Retail Retention division into an industry-leading sales organi- zation," Bosley said. "Refinancing and recapture have been key monetization strategies for Planet Home Lending. We see the same focus on refinancing among our private clients investing in non-performing assets, such as early buyout (EBO) portfolios." MICHAEL JOHNSTON Sprout Mortgage has appointed Michael R. Johnston to the newly created position of Head of Distributed Retail. A long-time Wells Fargo home mortgage executive, Johnston will play a key role in expanding Sprout's consumer and retail sales channel, reporting to Sprout President Shea Pallante. "We are excited to welcome Michael to the Sprout leadership team," Pallante said. "Michael will help drive our commitment to significantly build out Sprout's retail sales channel through direct-to-consumer outreach, brick-and-mortar retail facilities, and strategic joint ventures—all designed to help Sprout better serve our end- user clients with high-quality financial solutions for home ownership and investment properties." Johnston comes to Sprout after a two-decade-plus career at Wells Fargo in home mortgages. Most re- cently, he served as Southeast Division Manager, leading a team of 800 to drive market share, boost profitability, and expand the enterprise customer base. Prior to that, he served as Wells Fargo VP–Regional Sales Manager, in the Miami and Philadelphia regions. Prior to his time at Wells Fargo, Michael was a Sales Manager for PNC Bank in Princeton, New Jersey. "Sprout is the most innovative and exciting platform in the non-QM residential mortgage industry, and I'm proud to be part of the company's ongoing growth as we bring the Sprout brand, sterling reputation, and client-focused mortgage solutions to a nationwide audience," Johnston said. This is the latest move by Sprout to strengthen its hold in the market, as the company recently announced the addition of Henry Santos as its new EVP and CIO, responsible for the strategy, execution, and performance of the Sprout enterprise technology ecosystem. In addition to Santos, Laura C. LaRaia was named by Sprout to the role of EVP, General Counsel, and Chief Compliance Officer, over- seeing all legal and regulatory compli- ance functions, and serve as the firm's general counsel. In addition to the new hires, Sprout has expanded its product offerings over the past few months through its "BROKER AdvantEDGE" program, a series of operational improvements that will help brokers enhance the borrower experience and expand their business. DAVID LEWIS Continuing its rapid expansion and keeping pace with the shifting needs of today's borrowers, national residential mortgage lender Homespire Mortgage announced industry veteran David Lewis has joined the team as its new National Renovation Manager to lead the company's expanded renovation lending division. Homespire Mortgage is an award-winning company, providing an exceptional mortgage experience in 27 branches across 41 states. With over 25 years of industry ex- perience in both retail and wholesale, Lewis has specialized in renovation lending for most of his career, having built and managed platforms for com- panies of all sizes. As an established authority and published author on the subject, he brings an unsurpassed working knowledge of this type of lending to the Homespire team and its customers. In his role leading this new division, Lewis will further develop and grow Homespire's renovation lending capabilities for all branches and teams, with the goal of creating a structured, easy-to-use platform that will bring tremendous value to both Homespire's clients and referral partners. "Renovation loans are a terrific op- tion for borrowers in today's changing market," Lewis said. "I look forward to leveraging my expertise and the pow- er of Homespire's stellar operations team to raise awareness of renovation lending and deliver the highest level of service for our clients." Prompted by recent inventory shortages across the country and shifts in the market appetite for different spaces highlighted by the pandemic, Homespire chose to expand its renovation lending to meet these demands and provide afford- able renovation loan options for its borrowers. "At Homespire, our goal is to not only provide our customers with ex- ceptional service and expertise, but to also ensure we offer the best options and mortgage products to always meet their evolving needs," said Todd Sheinin, COO of Homespire Mortgage. "As a dedicated industry expert, David literally wrote the book on renovation lending, and we are very pleased to have him on the Homespire team lead- ing this new division." SCOTT MEYERS DLP Real Estate Capital, a private financial services and real estate investment firm, has promoted Scott Meyers to President of DLP Lending. Meyers has over 18 years' experi- ence in real estate, mortgage note investment, servicing, and investment lending. He previously served as SVP of Sales for DLP Lending. Under his new leadership role, he will drive the company's growth with innovative lending products and member- ship programs for DLP's clients and Elite Housing Operators. As part of his role, Meyers will oversee the launch of the DLP Lending Affiliate Program, partnering with local lend- ers to help amplify their businesses with DLP Funding and the utiliza- tion of DLP's Elite Execution System operational tools (www.EESTools. com). Additionally, he will help drive the growth and development of DLP's loan servicing division. Don Wenner, Founder and CEO, commented, "Scott's impact on DLP has been extraordinary and I'm excited to see him step up and drive even more growth to DLP's lending platform and the company as a whole. His unending dedication toward achieving excellence, continued growth, and teamwork makes him an ideal and natural fit for this leadership position. I look forward to the impact he will help us make within DLP's lend- ing platform." CALEB MITTELSTET Planet Home Lending, LLC, a national lender and servicer, has hired Caleb Mittelstet, AMP, as EVP, National Production, Distributed Retail Sales. A business builder well-known for profitably growing distributed retail channels, Mittelstet is also an expert sales coach and business mentor. "Caleb is a renowned retail builder, recruiter, and channel developer," said Michael Dubeck, CEO and President of Planet Home Lending parent Planet Financial Group, LLC. "Our distributed retail originations have more than doubled year over year. With Caleb leading the channel, that growth mo- mentum will accelerate." Mittelstet has more than two decades of expertise leading and growing distributed retail channels. He has a proven track record of suc- cessfully expanding into new markets, increasing market share and recruiting outstanding originations and leader- ship professionals. "I joined Planet Home Lending because its leadership understands the technology, loan products and programs retail producers need to take their volume to the next level," Mittelstet said. "I am energized by the opportunity to build the organization and work alongside the people within it. I love turning loan officers into top producers, branch managers into regional leaders and building industry- leading production teams." Before joining Planet Home Lending, Mittelstet was EVP of Sales at Summit Funding, Inc. During his career, he has also had retail leadership positions at Pacific Union Financial, LLC, CMG Financial and PrimeLending. Mittelstet has the Accredited Mortgage Professional (AMP) des- ignation from the Mortgage Bankers Association and earned a Bachelor MCROWD

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