Fintech mortgage marketplace LendingHome has announced the appointment of expert risk leader Cynthia Chen as Chief Risk Officer.
In her new position with LendingHome, Chen will be responsible for all aspects of mortgage risk management and analysis across LendingHome’s portfolio of real estate loans. Her 12-year track record of providing risk and mortgage underwriting leadership at top institutions includes serving as a credit risk expert on engagements Fannie Mae for more than six years, leading the assessment of mortgage portfolio losses and automated valuation models. She served in similar positions with Washington Mutual, Ally Bank, and E*Trade.
Chen has also served as director of commercial credit portfolio analytics at Capital One, leading the team responsible for the allowance of loan and lease losses forecast for the bank’s $50 billion commercial and small business portfolio. Her fintech experience includes working at OnDeck Capital leading that company’s risk management function, creating a risk governance framework, and developing and implementing risk models.
“With the hire of Cynthia as CRO, we’ve built out a world-class team with deep mortgage and risk experience from some of the top financial institutions in the country,” said Matt Humphrey, CEO and co-founder of LendingHome. “By combining their human expertise with the accuracy and efficiency of our underwriting technology, we’re better able to scale our platform to give even more investors access to our high-performing mortgage assets.”
The company also announced the formation of LendingHome Marketplace LLC, a special purpose entity that protects individual investors by reducing risk associated with LendingHome as a company, according to the announcement. LendingHome has originated more than $750 million in mortgage loans to date, and the company’s investment marketplace for individual investors, less than six months since its launch, is funding more than 10 percent of all new loans originated by the company.