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MReport August 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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10 | M R EP O RT MCROWD LENDERS MATT MILES Anchor Loans, a provider of financing to fix-and-flip entrepreneurs, announced that Matt Miles has joined the company as Chief Capital Markets Officer. Miles brings more than 20 years of experience in real estate capital mar- kets, with a special focus on fix-and- flip lending and investments. Over the course of his career, he founded both a fix-and-flip lender (Civic Financial Services) and a proptech company (Aperture Real Estate Ventures) that developed proprietary analytics and technology for fix-and-flip investing. He joins Anchor from Sundae, Inc., where he was the firm's fix-and- flip Portfolio Manager and Head of Capital Markets. Earlier in his career, Miles was a Partner at Wedgewood, a diversified operating/real estate investment company. While at Wedgewood, he founded Civic, its fix-and-flip lending subsidiary. Prior to Wedgewood, Miles spent 13 years at RBS Securities (formerly Greenwich Capital), most recently as SVP of Investment Banking and Principal Finance. Miles began his career at GE Capital and is a graduate of Michigan State University. "Matt joins Anchor in the middle of what will be another record year for originations and at a time when our scale and financial performance are providing us with expanded funding capabilities," Anchor CEO, Andy Pollock said. "His track record as both an entrepreneur, who founded two companies in the fix-and-flip sector, and as a seasoned capital markets executive, who has led hundreds of securitizations, financings, and debt deals, make him an exceptional addi- tion to the Anchor team." BRUCE SCHUMAN ROBERTA SYDNEY CHERIE YU LendingHome, one of the nation's largest lenders to real estate investors, announced it has hired Bruce Schuman, the former CFO at Intel Capital—the venture capital arm of chipmaker Intel and one of the world's largest corporate VC funds—as the company's new CFO. The company also named Cherie Yu, formerly with Lyft and Google, as Chief Marketing Officer and added Roberta Sydney, a real estate entrepreneur, CEO, and senior corporate executive with a long record of leading successful companies, to its board of directors. These strategic additions bring the kind of talent and experience needed to help LendingHome maintain its rapid growth, according to Michael Bourque, LendingHome CEO. "All three of these talented leaders know firsthand the disruptive impacts that ground-breaking technology, high-volume data, and imagina- tive thinking can have on legacy industries," said Bourque, the former GE executive who took over as CEO in December. "They learned it at Intel and Google or from spending decades in real estate creating value. This kind of knowledge and ability is essential for LendingHome, which relies on leveraging artificial intel- ligence and massive amounts of data to help real estate investors unlock value in aged homes." LendingHome created a unique position for itself in a vital U.S. indus- try. As the market for residential real estate continues to heat up, investors remain on the hunt for fixer-uppers they can renovate and sell for a profit—all the while helping to reduce the housing shortage. LendingHome has grown its business by providing residential real estate investors with reliable, fast and hassle-free financing. "Throughout my career, I've had the privilege to see firsthand the pow- er of technology to improve people's lives," said Schuman, LendingHome's new CFO. "I am thrilled to join the LendingHome team, which is truly transforming real estate lending, one of the most important market seg- ments in the United States." During his more than 25 years at Intel, Schuman oversaw large finance organizations for numerous lines of business and functions, including the Data Center Products Group, Supply Chain, and Corporate Strategy. Schuman brings innovative thinking and a successful track record working with startups to LendingHome's tech- nology-driven approach. Schuman will oversee all finance functions, including FP&A, Accounting and Treasury, and will report to Bourque. Yu led the Local Marketing team at Lyft, the publicly traded ride-sharing company. Prior to that, she worked at Google overseeing marketing for such marquee services and programs as AdSense, Display, Ad Management, and Shopping. "It's inspiring to see This month, some of the industry's largest companies saw significant changes to their corporate lineups. Who's moving on and who's moving up in the industry how LendingHome is bringing a data-driven approach to help real estate investors unlock the true value of America's aged housing stock and create homes for more families during this housing shortage," Yu said. Sydney is a 30-year veteran of the real estate industry. She founded and operated her own real estate firm for decades and achieved success in a huge swath of industry segments, including commercial, residential, development and construction—she financed over $1 billion in real estate transactions across multiple market cycles throughout her career. "I'm looking forward to advising LendingHome," Sydney said. "This is an excellent opportunity to draw on my experience running a mortgage company, founding and operat- ing a real estate development and management firm, and mentoring other fintech and proptech startups. I believe in the products and people at LendingHome, and I'm excited to work with the team." Schuman and Yu are respectively based in Portland, Oregon, and the San Francisco Bay Area and both will work remotely. About half of all new hires since the start of the COVID-19 pandemic were located outside of the markets where LendingHome has offices. Leadership believes a remote- first work policy is more productive, meets staff needs, and helps attract top talent. JOE TUNK AFirst Option Mortgage, a national residential mortgage lender, has tapped the mortgage expertise of Joe Tunk and named him Regional Manager. He is responsible for growing the company's footprint, with a focus on the Midwest. Tunk brings more than 25 years of experience in the mortgage industry to his new position. Before joining First Option, he was SVP at Fifth Third Bank, where he developed one of the largest retail regions for the bank focused on Illinois and Indiana. "What attracted me to First Option is the culture and the trust manage- ment puts in its employees to do their jobs and the support provided to ensure that happens," Tunk said. "This is an industry that will allow you to suc- ceed tremendously if you put people first, have the tools to succeed, and are honest about wanting to truly make a positive difference in people's lives."

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