NEW YORK--(BUSINESS WIRE)--Haven Servicing, Inc. a leader in mortgage technology, has announced that Daniel Wallace has been appointed Chief Executive Officer. Jonathan Chao, co-founder and CEO, will transition to Chief Product Officer, effective September 2023.
“The mortgage industry is in a transformative period. With 85% of outstanding mortgages having a rate below 5%, and application volumes at 30 year lows, engaging with existing borrowers is more important than ever. Haven enables all stakeholders to remain connected with their borrowers, throughout the life of their loan,” said Wallace. “Haven’s to-date progress is impressive, with 1.4 million loans, consistent borrower engagement, and considerable cost savings for servicers. I am excited to partner with Haven co-founders, Jonathan and Nipun, and the entire team, to continue to build upon Haven’s successes, and continue to transform the mortgage industry.”
Wallace joins Haven from Figure Technologies, a technology company transforming the financial services industry using blockchain technology, where he served as General Manager of Lending. While at Figure, Wallace helped the business become the largest non-bank originator of HELOCs, funding over $6.5 billion of HELOCs for more than 100,000 customers.
Prior to Figure, Wallace was the CEO of FirstKey Mortgage, a portfolio company of Cerberus Capital Management, was Co-Founder and Managing Partner at Capital Crossing, and started his career at Lehman Brothers, where he was a Managing Director. He currently serves on the Dietrich College Board of Advisors at Carnegie Mellon University, having previously served on the Board of Trustees. He is a graduate of CMU, with degrees in Information & Decision Systems and Industrial Management.
“At Haven, our mission is crystal clear: to keep the consumer at the heart of the mortgage experience, from start to finish, and beyond.” - Daniel Wallace, CEO
Haven is a technology company dedicated to improving servicing connectivity between mortgage companies and their borrowers through digital engagement. Haven Servicing ConnectTM allows servicers and subservicers to maximize the value of their MSR portfolio by empowering their borrowers to make great financial decisions and achieve their financial goals. Haven is backed by many of the best investors in fintech including: Fifth Wall, Fidelity National Financial, Conversion Capital, RWT Horizons, 1Sharpe Ventures, among others.