Prospect Mortgage LLC, Sherman Oaks, Calif., has hired industry veteran Amy Brandt to lead the company’s expansion into correspondent lending and servicing, according to a statement issued by the company.
Brandt—best known, perhaps, for her days as CEO of WMC Mortgage, a California nonprime lender—will carry the title of president of correspondent lending and servicing.
In her most recent position she was CEO of Vantium Capital Inc., which she launched in 2007 with Leon Black’s Apollo LP, a private equity firm. Among other things, Vantium hoped to be a player in distressed mortgage assets.
"We see a tremendous opportunity to greatly expand our national correspondent lending platform and build our loan servicing capabilities, filling a void that currently exists in the marketplace and increasing our core competencies," said Prospect Mortgage CEO Ron Bergum in a statement. "Amy knows how to build a successful business. She will play a critical role in guiding the strategy for the implementation and growth of these important segments of our business."
According to figures compiled by National Mortgage News and the Quarterly Data Report, Prospect Mortgage ranks 27th nationwide among all residential funders. It is also a top ten national home purchase lender.