Newrez Welcomes Mike Smeltzer as New SVP of Non-QM Lending

Newrez Welcomes Mike Smeltzer as New SVP of Non-QM Lending

 

Fort Washington, PA— Newrez LLC (“Newrez”, the “Company”), a national mortgage lending and servicing organization, announced today that it has hired Mike Smeltzer as the Senior Vice President (“SVP”) of Non-QM Lending, effective June 7.

In his role, Mr. Smeltzer will be responsible for managing Non-QM origination production across all of Newrez’s origination channels. He will also play a leading role in driving Newrez Non-QM production growth with the development of products through credit risk, capital markets, and the required support for each individual channel. Additionally, he will also oversee implementing unique scenario-specific program usage to assure loans are closed in accordance with appropriate guidelines and prepared for securitization.

“Mike has a deep and valuable background in Non-QM loan underwriting, processing and credit management that will support the expansion of our non-QM platform and product set,” said Jeff Gravelle, Chief Product Officer at Newrez. “At Newrez, we are focused on helping borrowers identify the right solution to fit their homeownership journey and Mike brings a dynamic perspective to support that focus and, in particular, support the evolving needs of our current and prospective Non-QM loan borrowers.”

Mr. Smeltzer brings more than 22 years of underwriting management experience to his new role. Prior to joining Newrez, Mr. Smeltzer served as Chief Credit Risk officer at Angel Oak Home Loans, where he was responsible for the Non-QM and jumbo products, including creating new products and establishing appropriate credit policy. He also has previous experience in underwriting at other leading institutions such as SunTrust Mortgage, Fannie Mae, Real Estate Mortgage Network, Just Mortgage Inc., Taylor Bean and Whitaker.

“Newrez has a differentiated Non-QM product suite that is positioned to help customers find the right lending solutions and support the dream of homeownership,” said Mr. Smeltzer. “I am very excited to begin my next career chapter here at Newrez and look forward to working with the Newrez team to offer distinct mortgage products to borrowers seeking solutions away from conventional financing options.”

 

About Newrez

Newrez is a leading mortgage company that strategically combines mortgage origination and servicing to provide a best-in-class, customer-first journey and help our customers make smart moves throughout the lifetime of their mortgage loan. Newrez’s differentiated origination platform provides options to purchase and refinance customers and operates across multiple lending channels, including Direct to Consumer, Joint Venture, Wholesale and Correspondent. Newrez’s tenured and proven servicing business consists of its performing loan servicing division, Newrez Servicing, and its special servicing division, Shellpoint Mortgage Servicing. NewRez employees support the health, vibrancy, and sustainability of our communities through the company’s community investment initiations, Newrez Neighborhood Outreach Works (“NOW”). Founded in 2008, Newrez is headquartered in Fort Washington, Pennsylvania and is a member of the New Residential Investment Corp. family.