Dominion Financial Services today announced the appointment of Dustin Wells as President of its newly established Wholesale Division.
Wells brings over two decades of experience in financial services, according to Dominion's press release.
"We couldn't be more excited to have Dustin join the team and lead Dominion's expansion into wholesale lending," stated Jack BeVier, a partner at Dominion. "We pride ourselves on having an entrepreneurial culture and Dustin fits right in. Dominion has a track record of leaning into opportunities while others are retreating. I'm excited to see Dustin grow the Division and for Dominion to become a go-to lender for all non-QM and traditional mortgage offerings."
Wells also expressed excitement about the new role, commenting, "I am incredibly excited to join such a diverse organization. I look forward to building, through continuous collaborative efforts, a business platform [that], over the course of time, gains consistent market share year over year while providing a measurable and consistent return on capital. Dominion has been providing real estate financing solutions to the market for over a decade and with the expansion into Wholesale we open those solutions up to a rapidly growing segment of the financial services industry, Mortgage Brokers."
Per Dominion, the new wholesale division will focus on providing tailored financial products that address the unique needs of brokers. Diversifying Dominion's portfolio allows the company to serve a wider array of clients, as served by the rapidly growing segment of brokers.
"The timing could not be better for us to enter this market with our solutions-based approach to this product segment - the broker community is the most significant it has been since 2009, with almost 25% market share of mortgage transaction activity," Wells said. "The broker community is scaling rapidly as more and more banks are scaling their operations back."
