True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Logan Mohtashami talks jobs report, mortgage forbearance

Lead Analyst Logan Mohtashami discusses his recent article on the latest jobs report and the most likely impact on the housing market and mortgage forbearance.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Lunch & Learn about underserved markets and affordable housing

Experts in this discussion will focus on how the mortgage industry is working to right previous wrongs and champion a housing market that serves all.

MortgagePeople Movers

Homepoint lures another Fannie Mae executive

Noelle Lipscomb will serve as the company's chief audit executive

By the time Homepoint is done, there may not be anyone left in the corner offices at Fannie Mae.

The wholesale mortgage originator and servicer announced Wednesday that it had hired yet another longtime mortgage executive at Fannie Mae, its third big poach from the GSE this year.

Noelle Lipscomb, who worked at the GSE for nearly two decades, has joined the Ann Arbor-headquartered firm as the company’s chief audit executive, where she will run point on Homepoint’s internal risk-based auditing services and controls.

Lipscomb served at Fannie Mae for 17 years in various senior audit positions prior to her departure, and was a senior auditor at PWC before her time with the GSE.

“Noelle’s understanding of the mortgage space will be instrumental in advising Homepoint on risk management and providing insight into our business operations and processes as our company continues to expand as a public entity and rapidly evolve as a leading mortgage originator and servicer,” Willie Newman, President and CEO of Homepoint, said in a statement.

Homepoint made its landmark hire from the GSE in January when it brought on Andrew Bon Salle, Fannie Mae’s former head of single family lending. Bon Salle was appointed chairman of the board. He was joined a few months later by John Forlines, who was named chief risk officer. Forlines spent 33 years at Fannie Mae, eventually rising through the ranks to become its chief risk officer.

Homepoint, a pure-play wholesaler, has made large strides in its near six years in the market. Homepint most recently ranked as the 15th-largest mortgage originator in 2020 based on number of loans issued. According to the Consumer Financial Protection Bureau‘s Home Mortgage Disclosure Act data, the lender originated $41 billion in single-family mortgages for all of 2020. It grew originations by 226% last year, bested only by Freedom Mortgage (344%) among the top 25 lenders in America.

The explosion in volume led its parent company Home Point Capital, which is controlled by private equity firm Stone Point Capital, to make its public debut in January.

The three Fannie hires at Homepoint represent just a sampling of the departures from Fannie and Freddie since the fall, which most observers have attributed to the companies’ dashed hopes to exit conservatorship.

Andrew Peters, most recently head of single family strategy at Fannie, was just named this week as Lenderworksnewest president on Monday. And Desmond Smith, Fannie Mae’s former senior vice president and chief customer officer for single family business, left than two months ago to join United Wholesale Mortgage as the wholesaler’s chief growth officer.

In January, Fannie Mae’s head of digital products, Henry Cason, announced his move to become CEO of FinLocker after 27 years of work at the GSE.

Leave a comment

Most Popular Articles

Generation X is looking to move to these metros

Millennials aren’t the only generation in the market for their dream home. Right now, Generation X makes up over a quarter of potential homebuyers.

May 14, 2021 By

Latest Articles

California’s consumer protection watchdog is “mini CFPB”

California intends to exercise its new muscles on behalf of residents easing back into the normal flow of housing financial responsibilities. HW+ Premium Content

May 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please