GMH Mortgage Services LLC announced the departure of Frank DiMaio as senior vice president of national retail sales, along with the addition of Stuart Tyrie as senior vice president of retail sales, specialty products group, a platform focusing on retail originations in residential construction-to-permanent financing.
Joseph Macchione, GMH's president and chief executive officer, discussed DiMaio's departure by stating, "Frank's departure is disappointing because his leadership truly exemplified the 'best in class' vision that helped us invigorate our reputation, credibility and exposure in our growing brand. We wish Frank the very best in his new endeavor and are extremely grateful for his leadership and tireless effort during his time at GMH Mortgage. As disappointing as Frank's departure is, we are all as conversely excited for the launch of our retail specialty products platform with Stuart Tyrie leading this initiative. Stuart's experience in retail originations and construction financing is unparalleled. His leadership style is a perfect model match for GMH and the demand in the origination space for a true construction-to-permanent product offering will allow us to penetrate strategic markets with a more fulsome suite of products for our borrowers," stated Macchione.
Stuart Tyrie has 25 years of experience in the mortgage industry, most recently with Premier Home Mortgage Inc., where he was the president of the specialty products group. During his time at Premier, the company doubled its size by expanding its geographic footprint and product suite, increasing its net worth by 95 percent. Prior to that, Tyrie worked at Wells Fargo Home Mortgage, where he was senior vice president - head of new construction, Condominium and Renovation Lending. During his tenure at Wells Fargo, Tyrie created, lead, coached and developed a national team that grew the industry-leading new home loan market share from 5.4 percent to 10.50 percent. During this time, Tyrie's group funded over 700,000 new home loans totaling $148 billion.
"The opportunities offered at GMH Mortgage to serve more home buyers are exciting and unlike those I have experienced at any other mortgage organization," stated Tyrie. "The combination of forward thinking leadership at GMH along with our best in class internal support systems, processing, marketing, compliance and IT affords our team an unrivaled edge to grow GMH's new construction business nationally. We are already expanding the GMH brand and market presence by leveraging our line of specialty products with innovative programs catered to those who build or sell traditional 'bricks and sticks' communities as well as those who construct modular and manufactured homes. We have a tremendous opportunity to impact American families by partnering with local, regional and national builders who want to leverage our capabilities to serve more buyers. Together we will help more families realize the dream of homeownership," finished Tyrie.