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M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Growing Mortgage Firms Add to Executive Ranks

Recent mortgage-related executive activity

March 14, 2016

By SAM GARCIA Mortgage Daily


portrait of Sam Garcia

Several up-and-coming non-bank mortgage lenders have made some strategic additions to their management teams. Among the recently filled positions are chief executive officer and president as well as chief digital officer and chief product officer.

Amy Brandt Schumacher has been named president, originations & corporate technology, at New Penn Financial LLC. She was recruited from Prospect Mortgage LLC, where work since 2013 -- most recently as chief operating officer.

Like her new boss, New Penn CEO Jerry Schiano -- who worked for subprime lender Conti Financial back in the 1990's -- Schumacher previously worked in subprime lending, at WMC Mortgage for six years where she was president and COO.

New Penn, based in Plymouth Meeting, Pennsylvania, reported in the March 3 announcement a staff of over 1,700 employees as of March 1 and more than 130 offices.

In Irvine, California, loanDepot said last month that Tim Von Kaenel has been appointed chief product officer. While he has 20 years in product management, Von Kaenel hasn't worked in the mortgage industry.

Another appointment announced by loanDepot was that of Rick Medeiros as chief digital officer. He also has two decades' experience, though none in the home lending field.

A third hiring by loanDepot was Helen Wang as head of consumer experience. Wang's two decades' experience included time in consumer lending. She reportedly holds an MBA from Harvard Business School.

Stonegate Mortgage Corp. said on March 1 that Michael Giampaolo has been appointed executive vice president of Stonegate Direct. He most recently worked in the consumer-direct lending division of Impac Mortgage, where he was employed for more than two years, and was previously employed by Washington Mutual.

Don Bleuenstein was promoted to sales director of home lending for the East from first vice president at Flagstar Bancorp Inc., a Feb. 24 statement said. Before joining Flagstar in November 2013, Bleuenstein worked for Citigroup Inc. for more than three years.

Troy, Michigan-based Flagstar additionally said Jens Lovell was recruited from BBVA Compass Bank as sales director for home lending in the West.

On Feb. 29, Inlanta Mortgage announced that its founder, John Knowlton, will resign as CEO of the Brookfield, Wisconsin-based company to be chairman of the board.

Taking over as CEO is Nicholas DelTorto, who will remain president of Inlanta -- where he has worked since August 2010.

Inlanta also said it promoted 17-year employee Chris Knowlton to senior vice president and chief information officer from vice president of marketing and information technology.

In addition, nine-year Inlanta employee Joe Ramis was promoted to senior vice president of loan production from vice president of business development.

"Each of these individuals has been instrumental in our company's growth and success," John Knowlton said in the statement.

Abingdon, Virginia-based Highlands Bankshares Inc. has hired Kevin Pack to be president and CEO of the bank's new mortgage division, Highlands Home Mortgage.

During his two decades in the business, he spent time at several banks -- including Central Carolina Bank, where he reportedly grew annual mortgage originations to more than $1.5 billion.

The new vice president of marketing at Churchill Mortgage Corp. is Whitney Blessington, the company said Tuesday. She reportedly has 12 years' marketing experience, including seven months as a consulting director at Bank of America Corp..

A Bloomberg article indicated that Richard Jennings died on Feb. 28. Jennings reportedly founded and led the mortgage-finance group at Goldman, Sachs & Co.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

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