Key facts
- Chad Smith has been appointed CEO of Envoy Mortgage and president of PLACE's mortgage and financial services division.
- Smith previously held leadership roles at Better.com, Mission Loans, Caliber Home Loans, and loanDepot.
- Envoy Mortgage, previously led by President Jesse Passafiume, is expanding through the acquisition of Mason-McDuffie's distributed retail assets.
- The integration aims to provide a more transparent and connected homeownership experience for consumers and professionals.
- Envoy has invested in technology, people, and processes over the past three years.
Chad Smith has been appointed CEO of Envoy Mortgage and president of PLACE’s mortgage and financial services division, according to a company announcement. Smith joins from Better.com, where he served as chief operating officer and president. Envoy, which has been led by President Jesse Passafiume, is expanding its reach through the acquisition of Mason-McDuffie Mortgage Corp.’s distributed retail assets. This deal is expected to add approximately 240 loan officers and an annual run rate exceeding $4 billion in funded volume. Ben Kinney, co-founder and CEO of PLACE, stated that integrating Envoy into the PLACE ecosystem will offer consumers a more transparent and seamless home financing experience. Envoy, founded in 1997, has focused on technology, people, and processes over the last three years, leading to gains in productivity and market share. The company has produced roughly $1.4 billion in mortgages year to date and has 233 sponsored loan officers across 80 branches.