Summit Funding swoops for three divisional leaders from Movement Mortgage

Move comes as company expands its East Coast footprint

Summit Funding swoops for three divisional leaders from Movement Mortgage

Three former Movement Mortgage leaders have made the switch to Summit Funding, a privately held mortgage banker and servicer.

Based in North Carolina, Deran Pennington (pictured left), Chris Shelton (pictured center) and Matt Schoolfield (pictured right) joined Summit to help expand its presence in the Southeast as divisional leaders. Summit Funding is headquartered in Sacramento, Calif., and offers conventional and government mortgages, as well as specialty products such as jumbo and non-QM offerings.

“In spite of the challenging housing environment, we’re continuing to build a team of the brightest minds in the mortgage industry,” Summit Funding CEO Todd Scrima said. “Deran, Chris and Matt embody our vision of relationship-focused lending and developing our people to achieve their very best lives. As we drive our growth and expansion in other areas of the country, their passion, dedication, and unwavering commitment to excellence will undoubtedly contribute to our continued success.”

Pennington, one of the founding team members at Movement Mortgage, has spent over 15 years with the company as national sales director. Meanwhile, Shelton served as a divisional leader at Movement for 11 years, specializing in coaching, mentoring and training loan originators. Schoolfield brings 24 years of mortgage industry experience to his new role at Summit and served eight years as southeast regional director at Movement Mortgage before being promoted to divisional leader.

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“I’m delighted to join a stable, forward-thinking lender committed to the development of its people,” Pennington said. “That commitment to development extends far beyond loan production. We hope to continue on the great foundation that Summit Funding, Inc. has built and take it to a much higher level.”

“Todd’s hands-on approach to helping loan officers close more loans in the current market is very attractive, and his commitment and vision for future company growth made me excited to be part of the Summit Funding, Inc. family,” Shelton said.

“Todd has developed a strong leadership team and culture at Summit Funding, Inc., and I am honored to have been invited into both,” Schoolfield said. “I’m excited to be charged with growing a team that is committed to one another in a way that produces excellence for our borrowers and business partners.”

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