RE/MAX Holdings has appointed Vic Lombardo as its president of mortgage services. Lombardo will succeed Ward Morrison to oversee mortgage brokerage franchise brand Motto Mortgage and third-party processing solution wemlo, the company announced on Monday.
Lombardo brings more than two decades of experience to the role. He most recently served as chief operating officer of Guaranteed Rate Affinity, the joint venture between Rate and Anywhere Real Estate. He previously held leadership roles at PHH Mortgage and spent a decade as a broker/owner.
He replaces Morrison, who retired June 15 but will stay on as a consultant at RE/MAX through 2025. Morrison, who launched Motto in 2016 and served as its president since inception, helped establish its “Mortgage Brokerage In-A-Box” model for entrepreneurs.
As part of his appointment, Lombardo received 75,000 time-based restricted stock units, vesting in equal installments from 2026 to 2028. In a statement, he said he aims to scale Motto’s and wemlo’s growth. Lombardo will report directly to RE/MAX Holdings CEO Erik Carlson.
“He’s focused on finding innovative ways to increase opportunities for Motto Mortgage brokerage owners and loan originators, which in turn will help strengthen offices and build market share. He also has excellent ideas on maximizing the potential of wemlo, our innovative loan processing brand,” Carlson said in a statement.
Carlson acknowledged during the company’s second-quarter 2025 earnings call that the mortgage “environment remains challenging, but our resilient operators continue to navigate it successfully.”
“We’re supporting them with new tools, including a recently launched pricing engine within our loan brokerage system. It’s designed to boost productivity and help originators find the best loan options for consumers,” he added.
“Mortgage continues to be an important component of our growth story, and we expect our next leader will help us continue to grow Motto and wemlo while exploring additional avenues to grow our mortgage opportunity.”
At the end of the second quarter, Motto Mortgage franchises fell 9.1% year over year to 219 locations, which the company counts only as brick-and-mortar offices with full franchise agreements.
On the real estate side, at the close of Q2, RE/MAX’s total agent count reached 147,073, up 2.5% compared to the same period last year. The company reported $4.7 million in net income in Q2, up from $3.7 million a year ago.
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