The president and chief executive officer of SunTrust Mortgage Inc. has been promoted to a bigger role at the parent company, and a correspondent executive has been tapped to take his place.
Jerome Lienhard has been leading the home lending business of SunTrust Banks Inc. since November 2011 and serves as president and CEO of SunTrust Mortgage.
But on Friday, Atlanta-based SunTrust Banks announced that Lienhard has been appointed chief
risk officer, replacing Tom Freeman — who was promoted to another division.
The change goes into effect on Nov. 1.
Taking Lienhard’s place as president and CEO of Richmond, Virginia-based SunTrust Mortgage will be Dorinda Smith.
The new mortgage segment leader has been with SunTrust for 19 years. Currently, she serves as
executive vice president, correspondent production manager for the lender.
“Smith has a successful track record of leading mortgage operations and sales support teams,” today’s announcement stated. “She most recently led the correspondent channel in SunTrust, successfully growing the business through an outstanding client relationship model with best-in-class efficiency.”
Smith takes over a business that reported nearly $18 billion in mortgage originations during the first nine months of this year and serviced nearly $150 billion in home loans as of the end of last month.
Her new job was once offered to Mortgage Bankers Association President and CEO David H. Stevens, though he backed out at the last moment to stay on with the trade group.
