David Smith has been promoted to Vice President of National VA Lending at loanDepot, company leaders announced.
In this newly created role, Smither will spearhead loanDepot’s VA lending strategy, including outreach to both the military community and industry pros to promote knowledge of VA mortgage products.
He will specifically lead the company’s VA Council, a group of originators who specialize in lending for active military personnel and veterans alike.
Smith has trained more than 28,000 real estate agents and consumers on the benefits of VA home loans.
“As a purpose-driven lender, loanDepot is incredibly proud to make the dream of homeownership a reality for thousands of military families each year,” said LDI Mortgage President Jeff Walsh. “We’ve developed a core strength in serving this particular community and now, with David’s expertise and leadership, we are poised to expand our positive impact.”
Smith joined loanDepot in 2022, bringing more than two decades of mortgage, real estate, and sales experience to the company. He previously held positions at Prudential Real Estate, USAA, Wells Fargo, and Mutual of Omaha.
Smith served in the U.S. Army as a sergeant.
“Serving my fellow veterans by helping them purchase their homes and build generational wealth is incredibly meaningful and personal for me,” he said. “Unfortunately, too many veterans, as well as too many real estate professionals, don’t have the understanding they need to successfully utilize VA loans. Our mission is to inform and empower so that more of our country’s servicemembers — who have sacrificed so much on behalf of our country — can take advantage of the powerful benefits of the VA mortgage program.”
California-based loanDepot’s leadership has changed drastically this year in the wake of a proxy fight between founder Anthony Hsieh and the company’s Board of Directors.
Though it was resolved back in April, the company has since seen organizational changes such as the hiring of another former CoreLogic exec, David Hates, as CFO. A series of other C-suite execs have left and been replaced.
Its Vision 2025 plan prioritizes “long-term value creation” through organizational restructuring, job cuts, emphasis on outreach to underserved communities, and growing its HELOC business.
Company leaders recently announced a new zero-down program for FHA borrowers.
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