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California-based mortgage lender loanDepot appointed Nancy Smith to lead its Colorado and Wyoming branches as regional vice president of in-market retail.
Smith will be responsible for growing sales volume in Colorado, which has the sixth-fastest percentage rate of population growth of all states, and Wyoming, a market traditionally underserved by independent mortgage banks, loanDepot said on Tuesday.
“Nancy is well known for her success building highly productive teams in the Colorado, Wyoming, Arizona, Utah and New Mexico markets,” John Bianchi, executive vice president of loanDepot, said in a prepared statement.
Smith has built and managed teams in multiple states, producing more than $3 billion per year, according to her LinkedIn profile. She describes herself as having “extensive experience in establishing and maintaining successful marketing agreements and joint ventures with real estate companies and other financial institutions.”
She joins loanDepot from Homeowners Financial Group USA, where she was regional manager for nearly two years. The company did not immediately respond to a request for comment on Smith’s move to loanDepot.
Prior to her time at Homeowners Financial Group, Smith held sales leadership positions at Cobalt Mortgage, MetLife Home Loans and Bank of America.
Earlier this year, loanDepot expanded its sales leadership team by adding Justin Andrews and Jeff Wilkish, both of whom were most recently at Movement Mortgage.
In June, Andrews joined loanDepot as its new area sales manager in the Seattle region. Wilkish was hired in April as the company’s regional vice president for New England, where he oversees sales activity in Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
loanDepot reported a non-GAAP adjusted net loss of $16 million in the second quarter of 2024, reducing its financial loss from $39.5 million in Q1 2024.
The lender posted an origination volume of $6 billion from April to June, up from $4.5 billion in the previous three months and below the $6.3 billion figure in Q2 2023. Company executives projected production of $5 billion to $7 billion in the third quarter of this year.
