Beeline Holdings, Inc. (Nasdaq: BLNE), a technology-enabled, digital mortgage platform, today announced the appointment of mortgage industry veteran Barry Levenson as Executive Strategic Advisor.
Mr. Levenson brings more than three decades of experience across mortgage banking, funding strategy, product development, marketing and capital market execution. In this role, he will advise Beeline’s leadership team on capital strategy, loan economics, product position and initiatives designed to improve funding efficiency and long-term profitability.
Mr. Levenson is the Founding Principal and CEO of LK Secured Lending. He previously served as Managing Director at PennyMac Financial Services. Earlier in his career, he was a founding executive of Countrywide Bank, which became one of the fastest-growing depository institutions in U.S. banking history. By implementing an innovative deposit-gathering strategy that materially reduced the institution’s cost of funds, he helped accelerate Countrywide’s rise to become the nation’s leading mortgage banker.
Beeline has outlined a long-term objective of achieving a $100 million revenue run rate within 24 months. The Company believes that disciplined capital management, product expansion and improved cost of funds are important components of that plan.
“Barry’s experience in funding strategy and scaling mortgage platforms comes at an important time for Beeline,” said Nick Liuzza, Chief Executive Officer of Beeline Holdings. “Organic growth remains a priority for the Company. As loan economics continue to improve, we are increasing marketing investment to support origination growth while maintaining a disciplined approach to expense management. Over the past several years, we moderated growth investments to reduce losses. We believe the operating environment is stabilizing and are positioning the business to accelerate.”
Mr. Levenson will serve in an independent advisory capacity and will continue in his role at LK Secured Lending.
“I’m excited to support Beeline’s next phase,” said Levenson. “The Company combines strong technology with a forward-looking approach to serving the next generation of mortgage borrowers. It feels like a very strong match combining complimentary legacy pieces with a fresh perspective to an industry that is starting to recover. I am excited to get to work with Beeline’s leadership team.”
