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Newrez LLC hired Mike Smeltzer as the senior vice president of Non-QM Lending, effective June 7.
In his role, 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.
Smeltzer brings more than 22 years of underwriting management experience to his new role. Prior to joining Newrez, he 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 Smeltzer.