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Shakeup at Caliber Home Loans: COO of Production Phil Shoemaker departs

Jordan Licht, who joined from Morgan Stanley, is taking over

There are some changes afoot amongst the executive ranks at Caliber Home Loans as the nonbank lender works to continue its growth.

Chief among those changes is the departure of Phil Shoemaker, executive vice president and chief operating officer of production.

Sources close to the situation told HousingWire that Shoemaker, a founding member of Caliber’s team, is leaving to take the no. 2 spot at Home Point Financial.

This is the latest move in Home Point’s push to bolster its C-suite. In late January of this year, Home Point added Richard Bradfield (chief financial officer) and Bill Shuler (chief information officer) to its executive team.

Those changes came on the heels of Home Point making several executive changes in the wake of its $211 million acquisition of Stonegate Mortgage Corp.

Now, the company appears to have Shoemaker in the fold too.

News of Shoemaker’s resignation surfaced Wednesday morning when sources told HousingWire of the impending move, calling Shoemaker “the hottest recruited mortgage executive,” and saying that he had resigned from his position at Caliber.

HousingWire reached out to Shoemaker for comment, but he has yet to respond.

Shoemaker was named a HousingWire Rising Star in 2017 for his efforts at Caliber where he almost tripled their lending output, moving the company from no. 7 lender in the nation to no. 2 lender in the nation, and built its proprietary technology system.

His leadership acumen and innovative presence have made him the “it” guy for mortgage industry headhunters, and no doubt Home Point is thrilled to have been able to get Shoemaker to take the no. 2 position at the company.

Late Wednesday, Caliber confirmed Shoemaker’s departure from the company but did not provide any details about his destination.

The confirmation of Shoemaker’s departure came in a message sent by Caliber CEO Sanjiv Das to all of the company’s employees. Das’ email shows that Shoemaker leaving is not the only change Caliber is making.

According to Das’ message, Jordan Licht will take over for Shoemaker as COO of production. Licht comes to Caliber from Morgan Stanley. In this new role, Licht will lead Caliber’s efforts in M&A, product development, and business strategy.

He will report to Russ Smith, executive vice president and head of national production.

Additionally, Danny Horanyi will become Caliber’s head of non-agency lending. According to Das, Horanyi recently rejoined Caliber from loanDepot. Das said that Horanyi had been one of the company’s “top producers” in retail and was one of the company’s top loan officers in non-agency lending.

According to Das, Horanyi’s “insights and expertise in selling non-agency products will allow us to take full advantage of the opportunities across all of Caliber’s distribution channels.”

Horanyi is the second loanDepot executive that’s come to Caliber in recent months. Back in April, Caliber hired loanDepot’s President of Direct Lending Chad Smith away from the company to serve as executive vice president, head of recapture and direct to consumer.

According to Das, Smith has had a “significant impact in his short period of time” with the company, and will join Licht in reporting to Russ Smith.

Also reporting to Russ Smith will be John Montgomery, head of retail, John Gibson, head of wholesale, and Patti Shumate, head of correspondent.

Additionally, Caliber announced that William Pendleton, senior vice president of portfolio lending, will also be leaving the company.

“I’m confident that these changes will lay the foundation for continued success for Caliber,” Das said in his message to Caliber employees. “Please join me in congratulating Jordan and Danny in their new roles and in supporting the entire Production team in making Caliber the strongest lender in the industry.”

According to Das, all of the changes are effective immediately.

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