Home lender PrimeLending has promoted Kim Dybvad to lead its Mid-America division, months after the workforce quit en masse and joined a competitor.
Dybvad, who joined the company in 2013 and is now a vice president, will be responsible for loan origination production in the Ohio, Indiana, Illinois, Michigan, Wisconsin and Kentucky markets.
“Kim exhibits the very best attributes of a PrimeLending servant leader – passion, drive, tremendous industry knowledge and empathy,” said Karen Blakeslee, executive vice president and eastern divisional manager at PrimeLending, in a prepared statement. “She brings her high energy and optimism to work every day, inspiring all around her to achieve their very best.”
Dybvad and the executives at PrimeLending have a challenge on their hands.
Last month, PrimeLending sued competitor First Community Mortgage, Inc. for allegedly poaching about 100 of its Mid-America employees. A regional manager, four branch managers and a regional operations manager were among those who submitted resignations on September 1 and left without notice, according to the lawsuit. It caused damages worth more than $30 million in annual revenue and approximately $150,000 in renting empty offices and associated fees for breaking leases in Cincinnati and Indianapolis, among other cities, the lawsuit claims.
The departures represented about 10% of PrimeLending’s total staff.
Dybvad’s professional career began in 1988 with her role as a mortgage originator at Savings of America. She then moved on to PNC/National City Mortgage (PNC acquired it in 2008) as a mortgage originator, and then was promoted to sales manager in Ohio and finally, to branch manager in 2009.
She joined Union Savings Bank as its regional vice president in 2010 and the Ohio Mortgage Bankers Association as its president in 2020, after being a member there for more than 10 years.
PrimeLending currently operates in all 50 states in the U.S. It is a wholly owned subsidiary of PlainsCapital Bank, which is a wholly owned subsidiary of Hilltop Holdings Inc.
In October 2021, Cindy Buhr – general counsel and executive vice president of legal and compliance, and in 2022, Gene Lugat – executive vice president of strategic support at PrimeLending featured among HousingWire Vanguards.
Last December, PrimeLending launched a home lending joint venture with Texas-based homebuilder Kindred Home Loans to provide mortgage services to buyers in Dallas/Fort Worth and San Antonio, with Ronald Faulkner serving as the managing director of its home loan operation.