PLACE has appointed mortgage industry veteran Chad Smith as CEO of Envoy Mortgage and president of PLACE’s mortgage and financial services division.
Smith will lead PLACE’s effort to integrate the national mortgage lender more deeply into its broader homeownership platform, which connects mortgage, real estate, title and escrow, property management, and home services.
“By integrating Envoy Mortgage and its highly productive loan officers and operations into the PLACE ecosystem, we’ll be able to offer consumers a more transparent, seamless, and connected experience,” PLACE Co-Founder and CEO Ben Kinney said.
Kinney said Smith’s appointment would help PLACE accelerate the growth of its mortgage business while expanding its services for consumers, real estate professionals, and financial institutions.
Smith brings more than two decades of mortgage industry experience to the role. He most recently served as president and chief operating officer of Better.com. Smith also previously served as CEO of Mission Loans and president of direct lending at loanDepot.
Smith’s departure from Better comes amid a broader leadership battle where founder Vishal Garg is seeking to remove interim CEO Daniel Lewis and four other directors. Neither Smith, Better, nor PLACE indicated that his move to Envoy was connected to the dispute.
Better has not announced who will assume Smith’s responsibilities as president and chief operating officer of its mortgage business.
“Partnering with PLACE allows Envoy to expand its footprint and work with more of the best talent in the real estate industry as we transform the consumer experience through proprietary tech and top mortgage professionals,” Smith said.
Founded in 1997 and headquartered in Houston, Envoy is a full-service national mortgage lender. PLACE said Envoy has invested in technology, personnel, and operational processes over the past three years to increase originator productivity and market share.
