Newrez LLC hired Mike Smeltzer as Senior Vice President of Non-QM Loans, effective June 7.
In his role, Smeltzer will be responsible for managing the production of Non-QM origination across all Newrez origination channels. He will also play a leading role in the growth of Newrez Non-QM production with product development through the credit risk, capital markets and support required for each individual channel. In addition, it will also oversee the implementation of the use of unique scenario specific programs to ensure that loans are closed in accordance with appropriate guidelines and prepared for securitization.
âMike has extensive and valuable experience in underwriting, processing and managing non-QM loan credit that will support the expansion of our platform and our non-QM product set,â said Jeff Gravelle. , Product Manager at Newrez.
Smeltzer brings over 22 years of underwriting management experience to his new role. Prior to joining Newrez, he served as Director of Credit Risk at Angel Oak Home Loans, where he was responsible for non-QM and jumbo products, including new product creation and policy setting. appropriate credit. He also has underwriting experience with other leading institutions such as SunTrust Mortgage, Fannie Mae, Real Estate Mortgage Network, Just Mortgage Inc., Taylor Bean and Whitaker.
âNewrez offers a line of differentiated non-QM products that is positioned to help clients find the right loan solutions and support the dream of homeownership,â said Smeltzer.