NewRez boosts non-QM lending with new senior hire

NewRez has named Mike Smeltzer (pictured) senior vice president of non-QM lending, effective June 07.

Smeltzer joins NewRez with more than 22 years of underwriting management experience. In his new role, Smeltzer will oversee non-QM origination production across all of the company’s origination channels. He will be instrumental in driving Newrez non-QM production growth with the development of products through credit risk, capital markets, and the necessary support for each individual channel. Additionally, Smeltzer will spearhead the implementation of unique scenario-specific program usage to assure loans are closed in accordance with appropriate guidelines and prepared for securitization.

“Mike has a deep and valuable background in non-QM loan underwriting, processing and credit management that will support the expansion of our non-QM platform and product set,” said Jeff Gravelle, chief product officer of NewRez. “At Newrez, we are focused on helping borrowers identify the right solution to fit their homeownership journey, and Mike brings a dynamic perspective to support that focus and, in particular, support the evolving needs of our current and prospective non-QM loan borrowers.”

Smeltzer makes the switch from Angel Oak Home Loans, where he most recently served as chief credit risk officer. He also held senior positions at companies including SunTrust Mortgage, Fannie Mae, Real Estate Mortgage Network, Just Mortgage, and Taylor, Bean & Whitaker.

“Newrez has a differentiated non-QM product suite that is positioned to help customers find the right lending solutions and support the dream of homeownership,” Smeltzer said. “I am very excited to begin my next career chapter here at Newrez and look forward to working with the Newrez team to offer distinct mortgage products to borrowers seeking solutions away from conventional financing options.”