Mortgage

Residence Level provides ex-Fannie supervisor Andrew Bon Salle as chairman

Andrew Bon Salle, who recently resigned from his position as executive vice president of Fannie Mae's single family business, has joined Home Point Capital as chairman.

The appointment was announced days after the Ann Arbor, Michigan-based non-bank mortgage lender announced that it had filed for an IPO. Bon Salle was not listed as a potential board member in the registration.

Andrew Bon Salle is the new Chairman of Home Point.

Bon Salle had been with Fannie Mae for approximately 28 years and joined the government sponsored company in 1992 after a two year stint with Hamilton, Carter, Smith, according to his LinkedIn profile.

In 2000, Bon Salle became Vice President for Portfolio Management. In May 2006, he was promoted to Senior Vice President, Capital Markets – Lender Channel.

Fannie Mae announced that Bon Salle plans to retire in late 2020 on a Securities and Exchange Commission filed in October. No head of the family is currently listed on the company's management website.

The details of Bon Salle's role at Home Point were not discussed in the press release.

Except for $ 1.6 billion, Home Point mortgages for the first nine months of 2020 were $ 38.05 billion from wholesalers or correspondence channels. It had net income for the period of $ 442.6 million.

"We're thrilled to have someone from Andrew's pedigree as our chairman," said Willie Newman, founder and CEO of Home Point Capital, in the press release. "Andrew is a great addition to our seasoned leadership team. We believe that his extensive industry experience provides Home Point Capital with yet another proven leader who will greatly benefit our company as it continues."

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