Home Point adds ex-Fannie exec Andrew Bon Salle as chairman

Andrew Bon Salle, who recently retired from his role 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, Mich.-based nonbank mortgage lender revealed that it had filed for an initial public offering. Bon Salle was not listed as a potential board member in the filing.

Bon Salle had been with Fannie Mae for approximately 28 years, joining the government-sponsored enterprise in 1992 following a two-year stint at Hamilton, Carter, Smith, according to his LinkedIn profile.

Back in 2000, Bon Salle became vice president for portfolio management. In May 2006, he was promoted to senior vice president for capital markets - lender channel.

Fannie Mae announced that Bon Salle was planning to retire at the end of 2020 in a Securities and Exchange Commission filing in October. The company’s leadership webpage does not currently list a head of single family. However, David Benson is serving as the acting head of Fannie's single family business in addition to his other duties

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

All but $1.6 billion of Home Point’s $38.05 billion of mortgage originations for the first nine months of 2020 came from the wholesale or correspondent channels. It had net income for the period of $442.6 million.

“We are thrilled to have someone of Andrew’s pedigree as our chairman of the board,” Willie Newman, founder and CEO of Home Point Capital, said in the release. “Andrew is a great addition to our veteran executive leadership team, and we believe his vast industry experience provides Home Point Capital with another proven leader who will greatly benefit our company as it continues to evolve.”