“The timing could not be better for us to enter this market with our solutions-based approach to this product segment – the broker community is the most significant it has been since 2009, with almost 25% market share of mortgage transaction activity,” Wells said in a Press release. “The broker community is scaling rapidly as more and more banks are scaling their operations back.”
The 20-year mortgage veteran joined DFS from Stronghill Capital, where he served as president of wholesale and correspondent channels. Wells has held various leadership positions at Wesley Mortgage, Knock, Keystone Bank, IBC Mortgage, Lone Star National Bank, and Wells Fargo Home Mortgage, among other financial institutions. He also co-founded A&D Real Estate Investments and currently serves as CEO.
Read next: UWM’s broker incentive raises concerns for mortgage-backed securities investors
“We couldn’t be more excited to have Dustin join the team and lead Dominion’s expansion into wholesale lending,” said Jack BeVier, partner at Dominion Financial Services. “We pride ourselves on having an entrepreneurial culture, and Dustin fits right in. Dominion has a track record of leaning into opportunities while others are retreating. I’m excited to see Dustin grow the division and for Dominion to become a go-to lender for all non-QM and traditional mortgage offerings.”
“I am incredibly excited to join such a diverse organization. I look forward to building, through continuous collaborative efforts, a business platform which, over the course of time, gains consistent market share year over year while providing a measurable and consistent return on capital,” Wells added. “Dominion has been providing real estate financing solutions to the market for over a decade, and with the expansion into wholesale, we open those solutions up to a rapidly growing segment of the financial services industry, mortgage brokers.”
Source: mpamag.com