loanDepot has appointed David Smith to the newly-created position of vice president of national VA lending, the company announced on Monday.
In this role, Smith, a former Army sergeant, will oversee the lender’s VA lending strategy. Additionally, he will spearhead the company’s VA Council, a group of loanDepot originators who specifically serve veterans and military personnel.
“Serving my fellow veterans by helping them purchase their homes and build generational wealth is incredibly meaningful and personal for me,” Smith said in a press release. “Unfortunately, too many veterans, as well as too many real estate professionals, don’t have the understanding they need to successfully utilize VA loans. Our mission is to inform and empower so that more of our country’s service members, who have sacrificed so much on behalf of our country, can take advantage of the powerful benefits of the VA mortgage program.”
The appointment supports the company’s Vision 2025 plan, the company said.
Smith joined loanDepot in 2022 as a branch production manager. He has two decades of industry experience, with stints atPrudential Real Estate, USAA, Wells Fargo, and Mutual of Omaha. Throughout his career, Smith had the opportunity to train over 228,000 real estate agents and consumers on the benefits of VA mortgage products.
Smith’s promotion follows the departure of Patton Gade, the nation’s top VA loan originator in 2022. Gade left loanDepot for UMortgage in October after two years at the Orange County-headquartered lender.
In September, loanDepot appointed Dan Hanson to another newly-created role of executive director of enterprises partnerships and acquisitions.