HousingWireHousingWire
American Financial Resources (AFR) on Wednesday announced the promotions of Robert Pieklo to CEO and Michael Brenning to chief operating officer.
The leadership changes follow the company’s record-breaking first quarter in which AFR said it quadrupled its Q1 2024 loan origination volume, including a nearly 700% increase in production in the wholesale channel alone.
Per Modex data, AFR’s year-to-date mortgage sales volume is $106.82 million.
Pieklo, who was appointed as COO following AFR’s acquisition by Proprietary Capital in February 2024, now steps into the role of leading the company.
“I’m incredibly grateful to step into the role of CEO and lead this great organization into the next chapter of this growth story,” Pieklo said in a statement. “This industry is not for the faint of heart, and AFR’s momentum reflects our team’s alignment around a shared vision.
“It is not [a] coincidence that our growth accelerated after Michael Brenning joined the team — and while I’m honored to take on the CEO title, I’m even more excited to see Michael step into the COO role he’s more than earned.”
Brenning, who joined the company last year as its head of production, will continue as the new COO to focus on optimizing internal processes and driving long-term growth through innovation and collaboration.
“It’s an honor to take on this role and continue working alongside such a passionate and committed team,” Brenning said. “Our growth is fueled by the trust our brokers and correspondents place in us. We’ll keep investing in ways to make their lives easier and their businesses stronger.
“We know what it takes to win, and AFR will be shoulder to shoulder with our partners as we build the future — together.”
