Anaheim, California-based nonbank Change Lending on Tuesday announced the hiring of Madison Simm as its new chief financial officer.
Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. He comes to Change Lending after a stint as president of real estate at Texas Capital Bank. His prior experience includes a “proven track record of success in residential mortgage lending, servicing, and capital markets,“ the firm stated in an announcement.
“Madison’s expertise in developing nationally recognized financial services businesses and managing sound growth will be invaluable to Change Lending as the company continues to expand and innovate,” Steven Sugarman, founder of The Change Company, said in a statement.
“I am thrilled to join Change Lending as CFO,” Simm said. “This is an exciting time for the company, and I am eager to contribute to its growth and success.”
The firm noted that Kari Hallowell, who had been serving as CFO, will assume the role of deputy chief financial officer upon Simm’s arrival.
In March, Change Lending announced its membership with the Federal Home Loan Bank of San Francisco. Change was required to purchase $7 million in capital stock in the bank.
Change has been a Community Development Financial Institution (CDFI) under the U.S. Department of the Treasury since 2018. Its offerings include small-business loans and lines of credit, real estate investor loans, rehab loans and renovation loans.
Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans.
