Embrace Home Loans Hires Stephen Adamo As President Of National Retail Production

Embrace Home Loans, a national mortgage lender, announced that Stephen Adamo has joined the company as president, national retail production. He will be responsible for significantly increasing the company’s retail sales force and expanding its retail footprint.  

Embrace originated a company record $6.4 billion in mortgage loans in 2020, a 70% increase from 2019. The company plans to double its retail production in 2021 and increase business in its consumer-direct and financial institutions group divisions, with a focus on purchase loans.  

Prior to joining Embrace, Adamo served as executive vice president, head of U.S. mortgage banking, home equity, consumer manufacturing and credit underwriting at Santander Bank, NA. In that role, he had direct oversight of all aspects of residential home lending, including production, portfolio administration, secondary marketing, servicing and loan operations.

Adamo said he plans to build on Embrace Home Loans’ momentum, adding that he was drawn to Embrace’s strong leadership team and its superior treatment of both loan officers and customers.

“I have known [Embrace CEO] Dennis personally and admired Embrace for many years,” Adamo said. “They go above and beyond to ensure all loan officers have the technology and marketing they need to be as successful as possible. As a result, Embrace is positioned for growth and set to compete with the top independent mortgage banks in the country.”  

Adamo’s previous roles include serving as president and CEO of Weichert Financial Services, where he oversaw the company’s mortgage, title, property and casualty insurance services. He also spent more than a decade with RBS Citizens Financial Group, where he held various leadership positions including president and CEO of the mortgage division. Adamo has additional expertise in secondary marketing, pricing, portfolio management and accounting.

“Steve brings a wealth of mortgage and banking experience to Embrace,” said Dennis Hardiman, Embrace founder and CEO. “As the key driver of our overall retail strategy, I am confident he will generate record numbers this year and beyond.”  

Adamo added that the mortgage industry has changed considerably since the 2008 financial crisis, as independent mortgage banks such as Embrace have taken significant market share from depository banks, particularly in the past five years. “No company does a better job at putting its team, its customers and the community at the forefront of its thoughts and actions than Embrace,” he said.  

Adamo is a member of many professional groups, including the Mortgage Bankers Association executive roundtable and the Metro Boston Housing Partnership. He is also a member of Fannie Mae’s National Advisory Council.  

Embrace Home Loans is a Fannie Mae, Freddie Mac, FHA and VA lender that processes, underwrites, funds and closes all its loans in-house. The company has been recognized with multiple workplace awards in recent years and is known for fostering a supportive, family-like work culture and encouraging its employees’ charitable endeavors.