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LoanDepot, SitmusAMC, Cenlar and more announce leadership hires

Jul 13, 2021

loanDepot taps George Brady as first chief digital officer Retail lender loanDepot appointed George Brady, former chief technology officer at Capital One, as chief digital officer, a new role for the company based in Foothill Ranch, California. Brady will be responsible for driving technology innovations and managing mello, loanDepot’s proprietary origination platform. Prior to joining Capital One, Brady worked on technology teams at Fidelity Investments and Goldman Sachs. "I've long admired loanDepot's deep understanding of how technology can push the boundaries to serve and enable consumers and originators to seamlessly and successfully navigate the lending process," said Brady. Founded in 2010, loanDepot became a publicly traded firm earlier this year. SitusAMC appoints Garry Herdler as CFO New York-based SitusAMC, a provider of technology and outsourcing services in the commercial and residential real estate industries, named Garry Herdler chief financial officer. Herdler will oversee and continue development of SitusAMC's worldwide systems, funding and financial strategies. As a finance industry leader for more than 25 years, Herdler has previously served as CFO at StoneMor Partners and QuadReal Property Group, and has experience covering numerous sectors from global real estate and homebuilding to multichannel retail, consumer and health services. He also spent close to a decade in investment banking and capital markets. Herdler succeeds Dave DeClark, who is retiring from SitusAMC. "Garry's proven experience as a financial leader and ability to design and execute strategies that deliver demonstrative value to operations, clients and investors alike will be critical as SitusAMC continues to grow and bring innovative, tech-forward solutions to market,” said CEO Michael Franco. Evolve acquires E-Notary Seal, names Felicia Grimes vice president Evolve Mortgage Services announced the closing of its acquisition with E-Notary Seal, a digital tool streamlining the signing and notarization of mortgage documents from any device. With the deal, Felicia Grimes, who founded E-Notary Seal in 2019, becomes vice president of Evolve’s eMortgage division. A notary public with years of experience in the field, Grimes developed the tool in response to the challenges she found with digital notarizations. Based in Frisco, Texas, Evolve Mortgage Services provides outsourced solutions to the mortgage industry, and the new addition furthers the company’s digital offerings to clients. “Adding this piece of the puzzle is key to completing our vision of an entirely electronic lending process from disclosures to closing and delivery all under one platform as opposed to multiple integrations,” said CEO Paul Anselmo. Reggora taps former Snapdocs leader Mike Phillippi to head marketing Hand-out/Reggora Appraisal software firm Reggora named Mike Phillippi as its vice president of marketing. He comes to the company from LeanIX, where he held the same title, and previously served in marketing leadership positions at Flexport and Snapdocs. In his new role, Phillippi will promote Reggora’s digital platform across the real estate industry. Phillippi’s appointment is the third leadership addition for the Boston-based company in recent months. “Reggora is at a pivotal stage of growth, and Mike’s experience in the mortgage technology space, coupled with his creative energy and relentless commitment to building successful companies and teams, makes me deeply excited to add him to our roster,” said Brian Zitin, CEO and cofounder of Reggora. The company aims to shorten the appraisal process to two days and raised $30 million in Series B funding earlier this year. Change Home Mortgage signs Jon Irvine as chief production officer Change Home Mortgage, a subsidiary of The Change Company, announced the appointment of Jon Irvine as chief production officer. Irvine has worked in lending and originations at Banc Home Loans and Mr. Cooper Group, and most recently served as chief strategy officer at Sovereign Lending Group. At Change Home Mortgage, he will develop revenue generation strategies across all origination channels, including Change Wholesale. Previously known as Commerce Home Mortgage , the Irvine, California-based company is certified as a community financial development institution to serve Black, Latino and low-income borrowers. In 2020, The Change Company originated over $7 billion in home loans and expects to grow originations to over $10 billion this year. “I am passionate about Change’s mission, excited to join its amazing team and eager to expand access to Change’s proprietary loan programs,” said Irvine. Cenlar welcomes return of Jim Scott to help lead client management Mortgage loan subservicer Cenlar FSB announced the return of industry veteran Jim Scott as vice president, helping lead default operations and client management efforts. With more than 25 years of experience in default management, Scott has held leadership roles at several mortgage firms, including LoanCare, Arc Home and PHH Mortgage. He also previously spent seven years as a Cenlar vice president in default operations. Based in Ewing, New Jersey, Cenlar services loans in all 50 states for banks, credit unions and mortgage bankers. “As we navigate through a post-pandemic environment, Jim will serve as a trusted partner to our clients, identifying and resolving loan-level issues and other challenges related to ending homeowner forbearances,” said Bob Hora, senior vice president for default operations. Keystone Funding names former NewRez CEO Kevin Harrigan board chair Mid-Atlantic residential mortgage lender Keystone Funding appointed longtime mortgage and financial industry leader Kevin Harrigan chairman of its board of directors. Harrigan most recently served as president and CEO of NewRez, which was the fastest growing originator in the country between 2018 and 2020. Harrigan has also served as president of KeyBank’s lending division, led independent multichannel mortgage banks and held several management roles at Bank of America. Based in Dover, Delaware, Keystone Funding is licensed to operate in seven states and the District of Columbia. “I look forward to working with the accomplished leadership team,” Harrigan said. “Together, we will build a best-in-class culture and customer experience and take the company’s impressive national, multichannel origination strategy nationwide.” UpEquity appoints Andy Pruitt chief technology officer Austin-based UpEquity, a mortgage platform providing services that facilitate all-cash offers for home buyers, announced the hiring of Andy Pruitt as chief technology officer. With almost two decades of tech-leadership experience, Pruitt comes to UpEquity from OppLoans, where he served as its chief technology officer. Pruitt also previously cofounded and held titles of CTO and president at Backstop Solutions, a firm offering cloud-based resources to institutional investors. “Andy will guide the production of UpEquity’s proprietary automated underwriting engine that will inevitably give UpEquity the ability to offer market-leading interest rates and the fastest timeline available in the industry,” said Tim Herman, UpEquity’s cofounder and CEO. In 2021, the company procured $25 million in Series A funding and added 50 new personnel. It plans to originate over $700 million in mortgages this year. Greystone hires FHA lending veteran Karen Ford as vice president Commercial real estate finance company Greystone named Karen Ford as vice president on its Federal Housing Authority lending team. A longtime leader in the FHA multifamily and health care sector, Ford worked for more than 25 years at Love Funding, including serving as executive vice president and chief operating officer. She was also previously an executive at SVN, Southgate Realty. In her new role, Ford will be based in Mississippi. “Karen is an icon in the FHA commercial lending industry, and we are thrilled to add her to our already best-in-class FHA platform,” said Field Springer, Greystone’s head of operations, FHA multifamily lending. “I am confident that Karen’s expertise will be an asset to our growing team.” New York-based Greystone is the country’s leading HUD lender of multifamily and health care loans. MAXEX adds structured finance leader Lesley Goldwasser to its board © Matt Greenslade/photo-nyc.com Atlanta-based fintech platform MAXEX appointed investor and advisor Lesley Goldwasser to its board of directors, as it continues to establish its presence in the nonagency mortgage marketplace. A longtime finance leader, Goldwasser is currently a managing partner at GreensLedge, an investment bank specializing in structured credit markets. She has also held leadership positions at Credit Suisse Group and Bear Stearns. Founded in 2016, MAXEX is a digital-mortgage exchange for buying and selling residential loans through a single clearinghouse and recently received backing from JP Morgan Chase . “Lesley has been an important partner in the execution of MAXEX’s vision from the beginning,” said MAXEX chairman and CEO Tom Pearce. “Her deep expertise and relationships in the structured credit markets has played a pivotal role in leading the nonagency mortgage community towards standardization through MAXEX." ChainLogix hires Jane Jaeger as vice president to expand tax products ChainLogix Mortgage Solutions, a provider of title and settlement services based in Fort Lauderdale, Florida, announced the hiring of Jane Jaeger as vice president, property tax intelligence and special projects group. She will be responsible for introducing tax-servicing solutions and expanding ChainLogix’s automated products. With more than three decades of experience, Jaeger previously managed property tax solutions and services for the mortgage industry at several companies, including CoreLogic and Accumatch. “Jane will be a key component in expanding our service offerings,” said Khelef Mahfudh, principal of ChainLogix. “Her experience in operations and design, including the implementation of residential and commercial tax servicing systems, makes her uniquely qualified to lead the development of our new products.” Premium Security becomes Homecision, names Ben Sillitoe president National lender Homecision, previously known as Premium Security, announced the promotion of Ben Sillitoe from chief financial officer to president, in addition to unveiling its new name and branding. Sillitoe takes over the leadership position from founder Alek Ohlhausen, who steps down from leadership but will continue to develop Homecision’s new retail division. “Ben is going to bring a fresh, modern approach to lending and continue building a company that loan officers and customers love. Retail is a very important part of our future, and we are fortunate to have talented people making this a reality,” said Ohlhausen. Founded in 2019, the company is based in Henderson, Nevada. Embrace Home Loans adds Pamela Summers, Tyler Rhea to drive expansion Left to right: Pamela Summers, Tyler Rhea National lender Embrace Home Loans, based in Middletown, Rhode Island, announced the hiring of Pamela Summers and Tyler Rhea as vice presidents of market growth. Both will help lead Embrace’s expansion efforts on the East Coast, with Summers covering the District of Columbia and Virginia, while Rhea will be responsible for New England. Embrace originated more than $6 billion in mortgage loans in 2020 and plans to double its retail sales team this year. Summers has spent more than two decades in the mortgage industry, most recently at PenFed Credit Union, where she was its director of mortgage projects. She also held several lending management positions at Freddie Mac over close to 20 years, as well as at Suntrust Bank. Rhea comes to Embrace from Academy Mortgage Corp., where he was a regional business development manager, in charge of recruitment on the East Coast. He also held various positions at Norcom Mortgage prior to joining Academy. “They were each hired as part of our overall expansion strategy to increase our market presence in existing and new regions across the country. We will continue to seek additional recruits to drive market growth in other regions,” said Jason Will, the company’s senior vice president of market growth. SCOPE Capital taps Edward Brown as senior director Philadelphia-based SCOPE Capital Group appointed commercial real estate veteran Edward Brown as senior director. He will be based out of the company’s headquarters, responsible for the financing of all commercial asset classes in the Philadelphia area. Brown joins the firm from Quaker Realty Capital and previously was a principal and cofounder at Devon Realty Capital. “Ed will be instrumental in the continued growth of our multifamily business,” said Phil Sharrow, managing director of SCOPE and principal of SCOPE Capital Group. “He practices with extreme transparency which will create synergies throughout our platform, something we believe the industry lacks.” LenderClose promotes Trinh Le-Coulter, adds two to operations team Left to right: Sheena Lovan, Bill Taha, Trinh Le-Coulter Lending technology platform LenderClose, headquartered in Des Moines, Iowa, announced the promotion of Trinh Le-Coulter to vice president of people power. She will be in charge of personnel growth and furthering the company’s team culture. With nearly a decade of experience in client and team management, she most recently served as LenderClose’s director of operations. Before joining LenderClose, Le-Coulter held the title of director of shared services at Businessolver. Taking over for Le-Coulter as director of operations is Bill Taha, who has been appointed to oversee a team of operational specialists assisting community banks, credit unions and vendors in the use of LenderClose’s technology tools. LenderClose has also hired Sheena Lovan as an operations specialist who will address client concerns and monitor progress and vendor turnarounds. Earlier this year, LenderClose raised $10 billion in Series B funding, and its recent additions are part of its plans to nearly double its number of staff and clients. Movement Mortgage taps Tom Knee to lead Northeast region National retail lender Movement Mortgage announced the hiring of Tom Knee as Northeast regional director. An industry veteran with almost 20 years of experience, Knee joins Movement from Citizens Bank, where he was a regional sales manager. He also previously worked in home financing at firms, such as TD Bank, Bank of America, PNC Mortgage and JPMorgan Chase. Knee will be based in Philadelphia. Movement is the sixth largest retail mortgage lender in the U.S. Headquartered in Fort Mill, South Carolina, the company funds approximately $30 billion in residential mortgages each year and is licensed in all 50 states. Trez Capital names Ryan Hodgdon vice president of originations Commercial mortgage lender Trez Capital expanded its Atlanta office, hiring Ryan Hodgdon as vice president of origination, its second Atlanta addition in recent months. A Georgia native with a decade of commercial finance experience, Hodgdon joins Trez from Atlanta’s Bank OZK, where he managed construction and value-add projects. He held prior roles at Trimont Real Estate Advisors and Voya. Hodgdon will be responsible for originating new loans in Georgia, as well as other Southern markets, for the Vancouver, Canada-based Trez Capital. “We have a rigorous results-oriented, risk-managed approach when evaluating opportunities and offer flexibility that you may not find at more traditional lenders,” Hodgdon said. “At Trez Capital, there is an entrepreneurial mindset backed by institutional capital, which I believe gives us a competitive edge.” Birchwood Credit promotes Larry Avery to senior executive VP Birchwood Credit Services, a credit reporting agency serving the mortgage industry, named Larry Avery senior executive vice president. In his new role, Avery will help lead initiatives across all divisions of the company. Avery began his career with Birchwood, based in North Conway, New Hampshire, 19 years ago as an account executive and most recently held the position of executive vice president of sales. “Larry will be instrumental in expanding our national footprint and increasing continuity across all departments within our organization,” said Tom Cooper, president of Birchwood Credit Services. Reverse Mortgage Funding opens Hawaii branch led by Percy Ihara Bloomfield, New Jersey-based Reverse Mortgage Funding expanded into The Aloha State, tapping reverse-mortgage expert Percy Ihara to lead its newly opened Honolulu office. With the branch, the company can now originate and underwrite loans in Hawaii, complying with state regulations mandating a physical location in order to obtain a license and offer products to its residents. "Expansion into Hawaii is a milestone. We can now do business in all 50 states, helping more seniors live comfortably and confidently in the homes they love," said David Peskin, president of Reverse Mortgage Funding. Ihara is a mortgage-industry veteran, who has focused on reverse mortgages for almost two decades. He is also the publisher and editor of Generations Magazine, a publication covering issues of interest to Hawaii’s older population. Union Home Mortgage adds Becky Roberts to Louisiana office Independent mortgage bank Union Home Mortgage named industry veteran Becky Roberts as a team lead loan officer in its Slidell, Louisiana branch. In her role, Roberts will work to produce loans in Louisiana, Mississippi, Alabama and Georgia and develop a network of new originators. With almost four decades of experience, Roberts has held several sales and originations roles in the mortgage industry, including at Parish National Bank, and most recently, with Standard Mortgage Corporation. Based in Strongsville, Ohio, Union Home Mortgage operates over 150 branches across the country and is licensed in 45 states. Urban Land Institute taps Peter Ballon as global chair International research and education nonprofit Urban Land Institute named Peter Ballon as global chair for a two-year term. Ballon will lead three initiatives that the Washington-based organization chose to prioritize earlier this year — decarbonizing the real estate sector to target net zero; educating a generation of diverse real estate leaders; and increasing housing attainability in communities around the world. ULI is an international network of cross-disciplinary real estate and land use experts. Ballon is currently global head of real estate for CPP Investments, an investment management firm that manages the assets of the Canada Pension Plan. “Perhaps the greatest challenge and where real estate has an outsized influence is climate change,” Ballon said. "ULI can be a thought leader, helping the real estate world address that challenge and turn it from a negative to a great opportunity for all stakeholders in the industry." Blockchain fintech Bee Mortgage adds Scott Miller to board Hand-out/Bee Mortgage App Bee Mortgage, a mobile tool built on blockchain technology based in Ponte Vedra Beach, Florida, announced that Scott Miller had joined its board of directors. With expertise in launching and scaling fintechs, such as BillGo, Miller was a major investor in Bee Mortgage’s recent seed round. In his career, he has raised or sold nearly $500 million on behalf of fintech companies. "The fact that the industry hasn't changed that much from 10, 15, even 20 years ago is frightening for consumers, not to mention buyer affordability,” Miller said. “Bee's mission to address this problem is something I can totally get behind from an investor standpoint."

Standard Mortgage Corporation Investments

1 Investments

Standard Mortgage Corporation has made 1 investments. Their latest investment was in Women.com Networks as part of their Series C on July 7, 1998.

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Standard Mortgage Corporation Investments Activity

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Standard Mortgage Corporation Portfolio Exits

1 Portfolio Exit

Standard Mortgage Corporation has 1 portfolio exit. Their latest portfolio exit was Women.com Networks on June 22, 2001.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/22/2001

Acquired

$99M

Date

6/22/2001

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

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