PRESS RELEASE:
Gains Fannie Mae Seller, Servicer Approval to Expand Consumer Home Loans;
Hires Mortgage Industry Veteran Robert Stiles as Chief Financial Officer
SAN FRANCISCO–(BUSINESS WIRE)–May 17, 2017–
LendingHome, the largest, fastest-growing mortgage marketplace lender, today announced two new business developments that will enable the company to take its business to the next level. LendingHome has gained Fannie Mae seller and servicer approval, which will allow LendingHome to expand its consumer home financing business and better serve its customers. Additionally, LendingHome named Robert Stiles, former CFO of Nationstar Mortgage, as its new Chief Financial Officer.
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Robert Stiles, CFO of LendingHome (Photo: Business Wire)
Fannie Mae Seller & Servicer
As one of the largest buyers of conforming home loans, Fannie Mae’s approval of LendingHome as a seller and servicer will enable the expansion of its home financing business and the delivery of better outcomes to its customers. By working directly with Fannie Mae, LendingHome can streamline its operations and offer better loan pricing to its customers. At the same time, LendingHome can retain the servicing of its customers in-house so that they can rely on LendingHome as their one trusted advisor throughout the life of their loan, benefitting from a true end-to-end mortgage experience.
“Passing Fannie Mae’s stringent approval guidelines is no small feat, especially for a young company that started lending only three years ago,” said Matt Humphrey, co-founder and CEO of LendingHome. “This is a testament to LendingHome’s financial strength, leading ground-up technology platform, and the quality of our processes from end-to-end.”
“LendingHome focuses on using technology innovation to create efficiencies and deliver a great customer experience,” said Jeff Walker, SVP and Customer Delivery Executive for Fannie Mae. “We’re pleased to welcome LendingHome as one of our lender partners and look forward to working with them toward our shared vision of a better mortgage process.”
New Chief Financial Officer
In addition to growing its consumer home financing business through Fannie Mae, LendingHome announced that it has named mortgage industry veteran Robert Stiles as its new CFO. Robert will be instrumental in leading LendingHome’s financial operations and taking the company through the next phase of its business growth. He reports to Matt Humphrey, effective as of April 2017.
Robert brings LendingHome over 20 years of accounting and finance experience, including 10 years of expertise in residential mortgage. Prior to joining LendingHome, he served for nearly three years as the CFO at Nationstar Mortgage, helping grow Nationstar to the largest non-bank servicer and a top 20 originator. Prior to this, Robert served as the CFO and helped start Xome, a wholly-owned subsidiary of Nationstar that provides mortgage technology and data-enhanced solutions. Before joining Nationstar, Robert served as CFO for Altisource Portfolio Solutions and in a variety of positions at Centerline Capital, Viacom, Time Warner and KPMG.
“Robert brings LendingHome over twenty years of accounting and finance experience, a wealth of know-how from top mortgage and real estate firms, and a thoughtful, long-term approach to building businesses,” said Humphrey. “We’re thrilled to have Robert join us on this journey to build one of the world’s leading financial services brands.”
“I’ve watched LendingHome closely over the past year and have admired its innovative ways that it serves both customers and investors, as well as its tech-focused approach to mortgages,” said Stiles. “LendingHome has tremendous opportunity to be very disruptive, and I look forward to contributing to its increasing success.”
About LendingHome:
LendingHome reimagines the traditional mortgage process to transform it into a fast, transparent, and reliable marketplace for borrowers and investors. It does this through its proprietary technology platform and team of seasoned real estate investment experts. LendingHome serves borrowers looking for financing to purchase or refinance residential real estate properties. At the same time, it serves institutional and individual investors looking for access to attractive, high-yield real estate assets. Since it started lending in mid-2014, LendingHome has funded over $1 billion in mortgage loans. Based in San Francisco, California, LendingHome has over 250 employees and has raised over $100 million in equity financing from Renren, Ribbit Capital, Foundation Capital, First Round Capital, and more. To learn more, go to www.lendinghome.com.
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LendingHome
Sharna Brockett, 415-734-1763
Sharna.brockett@lendinghome.com