Go Mortgage‘s majority owner and CEO Michael Isaacs have parted ways, sources told ЖильеПроволока this week.
Staff at the Огайо-based retail lender were told on Monday that Isaacs’ tenure was over, and that majority owner Jordan Hansell had named himself as interim CEO. The departure was a mutual decision, with Hansell and President Andrew Paganos running company operations, sources said.
A search for a permanent CEO replacement is underway with an executive search firm, multiple sources told HousingWire. Isaacs did not return requests for comment.
A spokesperson for Go said the lender does not comment on personnel matters but that the company is “fully committed to serving our borrowers and advancing our strategic goals.”
“We’re extremely pleased with the progress we’ve made, particularly in this challenging mortgage environment, and we attribute this success to our unparalleled team at GO.”
Sources at the company said Hansell, the former CEO of NetJets and a backer of multiple Columbus, Ohio, businesses through Tradepost Partners, didn’t always see eye to eye with Isaacs on operational matters.
The sources described Hansell as a “shrewd businessman” who is “not at all a mortgage guy,” while Isaacs is a more of “traditional” mortgage executive who brought over a number of staffers from Ипотека на дом в Фэрвэй.
Пер Модекс data, Go Mortgage has averaged about $45 million in mortgages over the past 12 months and has 79 producing loan officers, below historical averages.
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