Waterstone Mortgage founder Eric Egenhoefer has joined Panorama Mortgage Group as co-managing partner, launching a new brand extension, Novus Home Mortgage.
Novus Home Mortgage is a residential lender operating in more than 35 states that aims to simplify the mortgage process using cutting-edge digital solutions, the company said.
Novus is the latest addition to the Panorama Mortgage Group's suite of companies, which includes Alterra Home Loans, Legacy Home Loans and Inspiro Financial.
Egenhoefer, who sits on Ellie Mae's Executive Advisory Board, founded Waterstone Mortgage Corporation in 2000, growing it into a $2.6 billion business in 18 years before relinquishing his role as president last summer.
He said he was drawn to Panorama because it enables its leaders to leverage its resources while still maintaining their own process, culture, and brand identity.
“All of the Panorama Mortgage Group brands benefit from the economies of scale it provides,” Egenhoefer said. “In total we have over 550 employees at Panorama. Each brand can leverage the same human resources team, the same accounting department and a host of other shared resources. We can lower secondary market, finance, accounting and IT support costs because of scale.”
Egenhoefer said Novus Home Mortgage will focus heavily on technology.
“Novus is leveraging the latest technologies to deliver a simpler, more efficient and more transparent mortgage process for all involved, including the borrower, the real estate agent and our loan officers,” he added.