Lender Price is about to be in the market for a new CEO, as sources close to the situation tell HousingWire that Jerry Halbrook is set to leave the company later this week amid a disagreement with the company’s founders and board about the direction and future of the company.
Sources tell HousingWire that Halbrook resigned recently and that his last day with Lender Price will be Friday.
Halbrook’s abrupt departure comes less than nine months after the industry veteran joined Lender Price, a mortgage pricing engine startup that boasts Kevin Costner (yes, that one) as its lead investor.
Halbrook came to Lender Price from Black Knight, where he was president of the origination technology and enterprise business intelligence divisions.
When Lender Price named Halbrook CEO, he was tasked with securing funding to power the company’s growth.
Halbrook was able to do that, in part, by securing an investment earlier this year from Regions Bank. As part of the agreement, Regions Bank and Lender Price were also to establish a working relationship that enabled the fintech company to aid Regions with its digital lending process.
When Halbrook was hired as CEO, he took over for Dawar Alimi, the company’s co-founder. At the time, Alimi became the company’s president and chief information officer.
Both Costner and Alimi spoke highly of Halbrook when the company hired him in September 2017.
“Adding a CEO of Jerry Halbrook’s caliber validates the Lender Price vision and strategy for mortgage lending transformation through a technologically superior digital POS and PPE platform that offers unprecedented business analytics,” Costner said at the time. “The mortgage industry is eager to embrace the promise of digital disruption, and Lender Price is strategically positioned to fulfill on that promise.”
Alimi echoed Costner’s sentiments.
“I am very pleased to have Jerry lead Lender Price into the next phase of our business model,” Alimi said in September. “Jerry’s knowledge and experience will be invaluable in leading the company through our accelerated growth and market penetration.”
Halbrook brought a decorated history in the financial services industry to Lender Price.
In addition to his position at Black Knight, Halbrook held numerous executive level positions at Prudential Home Mortgage, Bank of America, CitiMortgage, Nexstar Financial and Deloitte & Touche at various points earlier in his career.
But now, less than nine months after coming to Lender Price, Halbrook’s days with the company are numbered.
In a statement provided to HousingWire, Lender Price said: “We at Cre8tech Labs greatly appreciate Jerry's contributions, and we wish him well.”
Cre8tech Labs, which was founded by Alimi, Ly Kou Nhiayi, and Ly Kao Nhiayi, is the parent company of Lender Price.