IRVINE, CA—HighTechLending Inc. has hired David Smith as VP of operations. The mortgage-industry veteran has 20 years of experience in products, pricing and risk management.

Previously with Clear Vision Funding, Smith served as SVP operations there. He directed all facets of mortgage operations including compliance, underwriting and all closing and funding areas. He managed implementation of mortgage-operating risk functions and established processes, tolls and systems to identify, analyze, measure and monitor operating risk in mortgage business. He also assisted in the dramatic increase in company volumes in wholesale transactions. Since joining the company, originations have totaled $3.2 billion. Before joining Clear Vision, Smith served as EVP of Medallion Mortgage Corp. and held several wholesale-loan-trading and credit-risk-management positions.

According to Erika Macias-White, SVP and chief of operations for HighTechLending, Smith's “risk-management experience will be invaluable to us during this time when ongoing regulations and compliance and compliance is at an all-time high. He will add maximum profitability and provide enormous operational efficiencies and quality in leveraging HighTechLending Inc.'s guaranteed five-star service.”

Don Currie, president of HighTechLending, adds Smith “is ready for this exciting challenge and will be a valuable asset and addition to our team as we continue our trajectory of growth where our team is continually focused on dedication to customer service and providing operational efficiency.”

New players in mortgage lending have been a topic of discussion among industry experts recently. As GlobeSt.com reported in July, Steve Edwards and Jubin Meraj at law firm Manatt, Phelps & Phillips commented, “Many have attributed the financial crisis that started in late 2007 in significant part to fallout from the home mortgage meltdown. Less well-known is the fact that the very industry that arguably set the stage for the downturn has generated important economic opportunities for certain investors and entrepreneurs. Today, as the market for traditional home loans made by banks and other customary lenders remains constrained, despite the growth of housing sales generally, the market for non-traditional mortgage lending may be positioned to expand significantly.”