Flagstar Bancorp (FBC) announced the hiring of Leonard Israel to serve as the bank’s president of mortgage banking.
In this position, Israel will report to Flagstar President and CEO Alessandro DiNello and be responsible for all aspects of Flagstar’s mortgage originations business.
Israel brings nearly 30 years of experience to Flagstar, including experience in correspondent, wholesale, and retail production; secondary marketing; and warehouse lending.
“Israel is a seasoned executive with a deep and varied background ranging from risk management and process improvement, to operations and compliance,” Flagstar said in a release. “He has managed national sales forces, led business transformations, and achieved significant increases in market share.”
Israel joins Flagstar from Sabal Financial Group, an international diversified financial services firm, where he served as director of CRE term lending.
Earlier in his career, he held leadership positions at a number of mortgage providers, including serving as executive vice president and regional CEO at IndyMac Bank. He also was senior vice president and national director of correspondent lending at CitiMortgage.
“We’re fortunate to have someone with Len’s extensive mortgage industry experience join Flagstar,” DiNello said. “His background and skills will be invaluable as we grow our correspondent, wholesale, and retail channels and become an even bigger player in the mortgage space.”