Flagstar Bank is launching an expansion of its retail mortgage lending operation, nearly doubling its retail home loan centers and hiring two regional sales directors to lead those operations.
According to a release from Flagstar, the bank has recently opened 12 new home loan centers in 10 states, and has plan to open other loan centers soon.
The 12 new retail locations bring the total number of loan centers in Flagstar’s two regions to 26 retail home loan centers in 19 states.
Alessandro DiNello, the president and CEO of Flagstar Bank, said that the timing of the retail expansion is “favorable” because Flagstar is now focusing on the purchase market.
"It's been part of our business plan to meaningfully expand our retail originations channel as an enhancement to our market-leading third party origination platform," said Alessandro DiNello, president and CEO of Flagstar Bank. “That's now happening with new leadership of our production team and the broadening of our retail geographic footprint.”
To lead the new retail lending operations, Flagstar named two regional sales directors, promoting, Don Bleuenstein, to the position of home lending Eastern U.S. division sales director, and adding Jens Lovell has as Flagstar's home lending Western U.S. division sales director.
Previously Bleuenstein (pictured right) served as Flagstar first vice president. In his new role, Bleuenstein will focus on expanding Flagstar's retail mortgage footprint throughout the eastern states.
Lovell (pictured left) joins Flagstar from BBVA Compass Bank. In his new role, Lovell will lead the company's retail production drive throughout the western states.
"We are pleased to welcome Jens Lovell to our team who, together with Don Bleuenstein, will provide proven leadership to our emerging retail platform, which is now favorably positioned for nationwide expansion," said Len Israel, president of mortgage banking for Flagstar. "It's a testament to Flagstar's reputation in the industry that we are able to attract and retain successful retail talent nationally."