Former Fannie Mae CEO Timothy Mayopoulos has been named president of digital mortgage company Blend, the company has announced.
“Tim is best known for his successful tenure as CEO of Fannie Mae, where he helped the company become profitable post-financial crisis, pay the US Treasury $167 billion in dividends, and reduce risk to American taxpayers,” said Blend co-founder and CEO Nima Ghamsari. “However, what struck me most about him was our shared vision of how technology can transform consumer finance.”
“I’m thrilled to join Blend at a critical point in its growth trajectory, and look forward to helping the company continue to drive positive change in consumer finance in the years to come,” Mayopoulos said. “Nima and the Blend team are driving much-needed improvements to the speed, efficiency, and transparency of consumer lending. I am confident that the company’s growth will continue at a remarkable rate.”
Blend has also expanded its leadership with a number of other executive hires:
- Olivia Teich has joined the company as head of product
- Kallol Das has joined as head of engineering
- Justin Schuster has joined as head of marketing
“We’ve added some amazing leaders to our team, positioning the company to scale at an even faster rate and better serve our customers, driving meaningful change in our industry,” Ghamsari said. “This group brings a wealth of experience and skill to Blend’s executive team, and their contributions will be pivotal to achieving our goal of a simpler, more transparent financial services ecosystem.”
The new appointments follow a record year for the growth of the company’s digital lending platform, which processed more than $230 billion in loan applications in 2018. The company has also increased staffing from around 200 to 350 employees over the last year.