Featured Brother: Gregg Smallwood
YEAR OF INITIATION: Spring 1987
CHAPTER OF INITIATION: Theta Theta (University of Maryland)
PROVINCE OF INITIATION: Eastern Province
EDUCATION: Bachelor of Arts Political Science & Govt. J.D.
COLLEGE/UNIVERSITY: University of Maryland (B.A.); Seton Hall University School of Law (J.D.)
Gregory Smallwood, a former associate GC at Bank of America, joins the mortgage lender, LoanDepot, as it restructures, cuts thousands of jobs and increases its focus on first-time and diverse homebuyers.
Former Bank of America lawyer Gregory Smallwood officially began his new job Thursday as chief legal officer at loanDepot Inc., one of the largest, non-bank retail mortgage lenders in the country.
Smallwood now reports to loanDepot CEO Frank Martell, who expects his new legal chief to support the company’s so-called “Vision 2025” strategic plan, which was unveiled in July and includes an increased focus on first-time and diverse homebuyers—and mass layoffs.
Smallwood stated in his hiring announcement Wednesday that he was joining “loanDepot as the company advances the work of its Vision 2025 plan and navigates such a significant period of change in the mortgage finance industry.”
He added, “I look forward to supporting Frank and working with the legal and broader loanDepot teams to make homeownership affordable, inclusive and sustainable for more American families.”
Smallwood succeeds loanDepot legal boss Peter Macdonald, who is retiring this month after 13 years at the company, according to a company spokesman. Macdonald has overseen the company’s legal and compliance teams while managing outside counsel and working with borrowers, regulators and investors.
A graduate of Seton Hall University School of Law, he was associate general counsel and senior vice president at the Bank of America Corp. for five years and general counsel at Saxon Mortgage for three years.
He began his legal career at L'Oreal Cosmetics Corp.
"The addition of a world-class legal talent like [Smallwood], who brings important skills and perspective to our already outstanding legal team, will help ensure we successfully execute on our plan and deliver best-in-class experiences for our customers," CEO Frank Martell said in a statement.
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