Spring EQ expands wholesale lending unit with two key appointments

The two execs arrive from Quicken Loans

Spring EQ expands wholesale lending unit with two key appointments

Spring EQ, a home equity lender based in Philadelphia, has strengthened its wholesale lending team with the hiring of two executives from Quicken Loans.

Paul Saurbier (pictured above left) has been promoted to senior vice president of wholesale lending, while Shawn O'Brien (pictured above right) has been named vice president of sales in wholesale lending.

Saurbier, who joined Spring EQ in 2019 as vice president of sales, helped create the company's wholesale unit. In his new role, Saurbier will oversee the division's overall results and profitability. The executive brings over three decades of mortgage experience, including time spent at Quicken Loans, HSBC, Indymac Bank, Key Bank, and GE Capital.

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Like Saurbier, O'Brien also has 30 years of industry experience and made the switch to Spring EQ from Quicken Loans, where he spent more than a decade of his career. As VP of sales for Spring EQ, he will lead the wholesale lending sales team and manage partnership relationships.

"As the market prepares for rising mortgage rates, we are thrilled to have Paul and Shawn – both highly-qualified and seasoned professionals with decades of experience – leading our wholesale team through a busy and successful year ahead," said Jerry Schiano, CEO of Spring EQ. "They will both play a critical role in enabling Spring EQ to help borrowers reach their financial goals and meet their expanding home equity needs in 2022."