Home Point Capital Hires 20-Year Financial Services Veteran Mark Elbaum as Chief Financial Officer
Top-3 Wholesale Lender Promotes Longtime CFO Maria Fregosi to Chief Investment Officer
ANN ARBOR, Mich., January 25, 2021 — Home Point Capital Inc. (“Home Point Capital”), the parent entity of Home Point Financial Corporation, today announced the appointment of Mark Elbaum as the company’s new Chief Financial Officer (CFO). As CFO, Elbaum will join the executive management team and lead Home Point Capital’s finance, accounting and tax activities.
The hire of Elbaum follows the recent promotion of Maria Fregosi, Home Point Capital’s previous CFO, to the newly created position of Chief Investment Officer. In this role, Fregosi will guide the company’s capital markets and treasury activities along with managing the company's strategic relationships and critical cross functional initiatives.
“Mark is an impactful hire for the Home Point organization, as he brings a strategic mind and wealth of mortgage experience to our growing operations,” said Willie Newman, Founder and CEO of Home Point Capital. “His mindset and philosophy toward responsible corporate growth will help maximize our commitment to supporting the business initiatives for our broker and correspondent partners.”
Elbaum is a mortgage industry veteran of more than 20 years He was most recently the CFO of Marlette Funding, LLC, the parent company of Best Egg, a financial technology provider and market leader in online lending. In addition to serving as CFO of Merrill Lynch, Bank of America’s Wealth Management business, he was the CFO of Countrywide Financials' Residential Lending division as well as Bank of America’s mortgage lending division following the company’s acquisition of Countrywide.
“I am incredibly honored to join the Home Point team. Having known of Willie Newman and his stellar reputation as a leader and business-builder in the mortgage industry, it was an opportunity I could not refuse,” Elbaum said. “The leadership team is full of longtime industry veterans who have built a culture of putting customers first. I’m really excited to help the company to continue its journey forward.”
Fregosi, whose 30-year career spans investment banking, portfolio management, asset and mortgage securitization has had numerous operational and financial roles that have propelled Home Point’s financial success in the last 5 years.
“Maria has been a fixture at Home Point since the beginning, and her talent, knowledge and outstanding leadership capabilities are a huge part of the success our company has had, and will continue to have,” said Newman. “She is a key driver behind the overall financial health of Home Point, and I am excited that she will take on an expanded role as the company continues to grow and evolve.”
Home Point Capital is the parent company of Homepoint, the nation’s third-largest wholesale lender and 10th-largest non-bank mortgage lender, as of the third quarter of 2020, according to Inside Mortgage Finance.
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About Home Point Capital
Home Point Capital is evolving the homebuying and home ownership experience. Home Point Capital’s primary business entity, Home Point Financial Corporation, is a leading mortgage originator and servicer focused on driving financially healthy and successful homeownership. Through additional wholly owned subsidiaries Home Point Mortgage Acceptance Corporation and Home Point Asset Management, the company supports sustainable homeownership as a crucial element of each consumer’s broader journey towards financial security and well-being, delivering a seamless and less stressful homebuying experience.
Founded in 2015 and headquartered in Ann Arbor, Michigan, Homepoint works closely with a nationwide network of more than 5,500 mortgage broker and correspondent partners with deep knowledge and expertise about the communities and customers they serve. Today, Homepoint is the nation’s third-largest wholesale mortgage lender and the 10th-largest non-bank mortgage lender.
Home Point Financial Corporation d/b/a Homepoint. NMLS No. 7706 (For licensing information, go to: nmlsconsumeraccess.org). Home Point Financial Corporation does not conduct business under the name, "Homepoint" in IL, KY, LA, MD, NY, or WY. In these states, the company conducts business under the full legal name, Home Point Financial Corporation. 2211 Old Earhart Road, Suite 250, Ann Arbor, MI 48105. Toll-Free Tel: 888-616-6866.
Forward Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. These forward-looking statements are based on Home Point Capital’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Home Point Capital’s control. Any forward-looking statement in this press release speaks only as of the date of this release. Home Point Capital undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
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