Press Release.

Deran Pennington, Chris Shelton and Matt Schoolfield join growing privately-held lender, expanding company's East Coast footprint.

July 20, 2023 - Sacramento, Calif. - Summit Funding, Inc., a privately held nationwide mortgage banker and servicer, announced it has expanded its East Coast footprint by hiring three former leaders from Movement Mortgage. As divisional leaders based in North Carolina, Deran Pennington, Chris Shelton and Matt Schoolfield bring more than half a century of experience recruiting and building highly successful mortgage sales teams.

The appointments of Pennington, Shelton and Schoolfield significantly expand Summit Funding, Inc.'s presence in the Southeast, which remains one of the housing market's lone bright spots. According to the Q2 2023 VeroFORECAST from Veros Real Estate Solutions, North Carolina's Greensboro-High Point and Fayetteville markets were among the top 10 performing housing markets nationwide. The Charlotte and Raleigh markets remain strong as well.

"In spite of the challenging housing environment, we're continuing to build a team of the brightest minds in the mortgage industry," said Todd Scrima, Summit Funding, Inc. founder and CEO. "Deran, Chris and Matt embody our vision of relationship-focused lending and developing our people to achieve their very best lives. As we drive our growth and expansion in other areas of the country, their passion, dedication, and unwavering commitment to excellence will undoubtedly contribute to our continued success."

As one of the founding team members at Movement, Pennington spent 15 years with the company building and running high-performing sales teams as national sales director.

"I'm delighted to join a stable, forward-thinking lender committed to the development of its people," Pennington said. "That commitment to development extends far beyond loan production. We hope to continue on the great foundation that Summit Funding, Inc. has built and take it to a much higher level."

Shelton spent the past 11 years as a divisional leader at Movement Mortgage, where he specialized in coaching, mentoring and training loan originators. He has nearly 20 years of mortgage experience.

"Todd's hands-on approach to helping loan officers close more loans in the current market is very attractive, and his commitment and vision for future company growth made me excited to be part of the Summit Funding, Inc. family," Shelton said.

Schoolfield has 24 years of mortgage industry experience and served eight years as southeast regional director at Movement Mortgage before being promoted to divisional leader.

"Todd has developed a strong leadership team and culture at Summit Funding, Inc., and I am honored to have been invited into both," Schoolfield said. "I'm excited to be charged with growing a team that is committed to one another in a way that produces excellence for our borrowers and business partners."

Based in Sacramento, Calif., Summit Funding, Inc. is a direct Fannie, Freddie, and Ginnie Mae seller and servicer that offers a wide range of products, from conventional to government loans, as well as specialty products such as jumbo and non-QM offerings. The company is known for its commitment to the professional development of loan originators. Its Next Level Coaching program, led by Scrima and the executive sales team, offers one-on-one coaching, peer coaching and accountability tools designed to fuel the success of every loan officer.

"Not only do Deran, Matt and Chris each have many years of experience building top-performing sales teams, they each embody our 'yes, you can' mindset and our commitment to helping everyone around us reach their personal and professional goals," Scrima added. "They know exactly what it takes to build an industry-leading mortgage company, which is exactly what we're doing."

To learn more about opportunities at Summit Funding, Inc., visit www.SummitFunding.net/careers. About Summit Funding, Inc.

Sacramento, Calif.-based Summit Funding, Inc. is a privately-held mortgage banker and servicer focused on serving the diverse needs of borrowers nationwide. Founded in 1995, the company offers conventional, FHA, VA, USDA, jumbo, non-QM and reverse mortgages, as well as down payment assistance (DPA) programs. The company has more than 250 loan officers, operates more than 55 branches, and is licensed to do business in 48 states. The company was founded in 1995 by Todd Scrima, who grew the company from a small local team to a top 35 retail lender. For more information visit www.SummitFunding.net.