Renovo Financial, a growing private lender to residential real estate investors, announced the addition of former Fannie Mae executive Peter G. Poidomani to its executive team.
Poidomani will serve as EVP of Portfolio Management, a role in which he will oversee portfolio management while managing risk and overseeing internal operations.
“Peter brings 20 years of industry experience and his knowledge as the former director of real estate asset management at Fannie Mae will be a huge asset at Renovo,” said Kevin Werner, CEO of Renovo Financial.
In his prior role at Fannie Mae, Poidomani created a production platform that managed a portfolio worth more than $2 billion and oversaw operations for 36 real estate asset management units in the Midwest.
Poidomani has experience in private mortgage banking with previous roles at Fieldstone Mortgage, Aurora National Bank, and Cityscape Mortgage. He holds a Master’s degree in finance/investment management.
“I am excited to align my talents with a high-energy firm such as Renovo, Chicago’s leading private lender and one of the most advanced in this field nationally,” said Poidomani.
“There are multiple markets across the Midwest that are deep with potential for residential real estate investors/flippers. The opportunity to be a part of the Renovo team, which is at the forefront in lending efficiency and customer service, was very compelling to me,” he said.
Based in Chicago, Renovo Financial was founded in 2011 in partnership with Granite Creek Partners and closed its 1000th loan in December. The company has loaned $250 million to real estate investors for revitalization projects valuing at more than $400 million. Renovo Financial experienced 100 percent growth rate over the year in 2016.