Lender expands portfolio with new mortgage offerings
Dominion Financial Services (DFS), a national private lender for real estate investors, has announced the launch of a new wholesale division.
DFS, known for its short-term bridge and long-term rental loans, said the expansion is an opportunity to offer services to a broader client base, particularly focusing on the growing segment of mortgage brokers.
The company has tapped Dustin Wells (pictured) to head the new division as president.
“The timing could not be better for us to enter this market with our solutions-based approach to this product segment - the broker community is the most significant it has been since 2009, with almost 25% market share of mortgage transaction activity,” Wells said in a Press release. “The broker community is scaling rapidly as more and more banks are scaling their operations back.”
The 20-year mortgage veteran joined DFS from Stronghill Capital, where he served as president of wholesale and correspondent channels. Wells has held various leadership positions at Wesley Mortgage, Knock, Keystone Bank, IBC Mortgage, Lone Star National Bank, and Wells Fargo Home Mortgage, among other financial institutions. He also co-founded A&D Real Estate Investments and currently serves as CEO.
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“We couldn’t be more excited to have Dustin join the team and lead Dominion’s expansion into wholesale lending,” said Jack BeVier, partner at Dominion Financial Services. “We pride ourselves on having an entrepreneurial culture, and Dustin fits right in. Dominion has a track record of leaning into opportunities while others are retreating. I’m excited to see Dustin grow the division and for Dominion to become a go-to lender for all non-QM and traditional mortgage offerings.”
“I am incredibly excited to join such a diverse organization. I look forward to building, through continuous collaborative efforts, a business platform which, over the course of time, gains consistent market share year over year while providing a measurable and consistent return on capital,” Wells added. “Dominion has been providing real estate financing solutions to the market for over a decade, and with the expansion into wholesale, we open those solutions up to a rapidly growing segment of the financial services industry, mortgage brokers.”
Founded in 2002, Dominion Financial said it has funded more than 11,000 projects nationally with a total loan origination value of over $3 billion.
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