Keller Williams’ top mortgage executive has left the firm to “pursue other career opportunities,” executive chairman Gary Keller told staffers on Monday.
Dave Smith, who joined Keller Williams in March 2021, had served as president of Keller Home Financial Services and was tasked with strengthening Keller Mortgage and the firm’s insurance services provider Keller Covered.
“During Dave’s tenure with the company, he played a key role in building out the Keller Mortgage leadership team which will continue to lead the organization,” Keller wrote. “We thank Dave and wish him well in his future endeavors.”
The housing market environment throughout Smith’s tenure at the firm has been rather volatile, as mortgage rates have skyrocketed over the course of year, hitting some of their highest levels in decades this fall. This has led to a major slowdown in loan origination volume and refinance volume. As Keller Williams has grappled with the slower housing market conditions, the firm has undergone a series of layoffs, including cuts specifically to Keller Mortgage in October 2021, as well as May and October of this year.
In his email, Keller did not clarify if Smith’s departure was in any way elated to today’s considerably more challenging lending landscape or to the shrinking ranks of Keller Mortgage.
Rich Miller, who previously served as Keller Mortgage’s chief financial officer, has been appointed interim president of Keller Mortgage.