NFTYDoor, a home equity lending platform, announced the appointment of Leo Loomie as its chief revenue officer (CRO) on March 31. Loomie will oversee the company’s national expansion efforts and strategic partnerships, focusing on increasing the platform’s reach within the mortgage industry. This move signals NFTYDoor’s intent to grow its market share in the home equity sector, a segment mortgage professionals can leverage for client retention and new business opportunities.
Loomie brings 25 years of experience in the mortgage and financial technology sectors to NFTYDoor. His background includes roles at Figure Technologies, where he served as Head of Mortgage and Head of Sales, overseeing mortgage origination and capital markets. Prior to Figure, Loomie spent 13 years at Wells Fargo, holding various leadership positions including Head of Retail Lending and Head of Correspondent Lending. His experience also extends to JPMorgan Chase and Bank of America.
In his new role, Loomie is tasked with scaling NFTYDoor’s home equity platform, which aims to provide mortgage professionals with tools to originate home equity loans. The platform focuses on leveraging technology to streamline the lending process, reducing the time and cost associated with home equity loan origination for loan officers and mortgage banks.
For mortgage professionals, the expansion of platforms like NFTYDoor means potential access to more efficient home equity solutions. As interest rates fluctuate and refinance volumes remain subdued, home equity products, including Home Equity Lines of Credit (HELOCs) and Home Equity Loans (HELs), offer an avenue for homeowners to access liquidity without disturbing their existing first mortgages. This can be a valuable tool for loan officers looking to maintain relationships with clients and generate new business in a challenging market. NFTYDoor’s focus on national expansion under Loomie’s leadership suggests an increased availability of these tech-driven home equity options across various markets.
