Headquartered in Baltimore Dominion Financial ServicesA national private lender that specializes in financing real estate investors has announced the hiring of Dustin Wells as president of its newly formed wholesale lending division.
Wells has more than 20 years of experience in financial services. Recently, he served as Qiangshan Capitalis an Austin-based non-bank lender. Dominion said in the announcement that Wells’ “expertise and deep understanding of the real estate market make him the ideal leader of Dominion’s wholesale division.”
“We are very excited to have Dustin join the team and lead Dominion’s expansion into wholesale lending,” Jack BeVier, partner at Dominion Financial, said in a statement. “We pride ourselves on having an entrepreneurial culture, and Dustin is a perfect fit for us. Dominion has a track record of seizing opportunities when others retreat. I’m excited to see Dustin grow this division and to see Dominion become the lender of choice for all non-QM and conventional mortgage products.
Dominion’s wholesale arm will provide financing solutions tailored to meet the “unique needs of brokers,” the company explained. Last month, Dominion launched a third-party origination platform for brokers, improving access to products such as debt service coverage ratio (DSCR) loans, short-term fixed and flip financing, infrastructure financing and bridge loans.
Wells said: “The timing could not be better for us to enter this market through the solutions-based product segment – the broker community has been the most significant since 2009, accounting for nearly 25% of mortgage transaction activity market share. “As more banks scale back their operations, the brokerage community is expanding rapidly. “
Since its founding in 2002, Dominion Financial has reportedly financed more than 11,000 projects in the United States, with total originations exceeding $3 billion.
