Although loan originations have been booming at Caliber Funding this year, the lender’s aggressive CEO, Brian Simon, has departed the company without explanation.
A spokesman for the nonbank lender had nothing to say on the matter Monday morning. Simon could not be reached for comment.
In a recent interview with National Mortgage News, Simon said Caliber hires only “top performers” and has let managers go who have underperformed.
The company issued a press statement saying Caliber—a wholesale/retail lender—has named Jim Ferriter as its new president. The appointment was effective Friday July 20.
The privately held Caliber has been operating at a run-rate of almost $500 million a month—ten-times its volume of a year ago.
Earlier this year the firm made headlines when it hired roughly 300 loan officers and support staff from MetLife Home Loans, which was being shuttered by its insurance company parent firm.
Caliber is based in Irving, Texas, and is licensed in roughly 47 states.
