RE/MAX HOLDINGS, INC. ANNOUNCES VIC LOMBARDO AS PRESIDENT OF MORTGAGE SERVICES TO LEAD MOTTO MORTGAGE AND WEMLO BRANDS
RE/MAX HOLDINGS, INC. ANNOUNCES VIC LOMBARDO AS PRESIDENT OF MORTGAGE SERVICES TO LEAD MOTTO MORTGAGE AND WEMLO BRANDS |
| [18-August-2025] |
Industry veteran to spearhead technology and customer-first initiatives that empower Motto Mortgage franchisees and create stronger growth opportunities for REMAX Broker/Owners DENVER, Aug. 18, 2025 /PRNewswire/ -- RE/MAX Holdings, Inc. (NYSE:RMAX), parent company of REMAX®, one of the world's leading franchisors of real estate brokerage services, and Motto® Mortgage, the first and only national mortgage brokerage franchise brand in the U.S., today announced Vic Lombardo has joined the Company as President of Mortgage Services. In this role, Lombardo will oversee growth and operations for the Company's mortgage services, including Motto Mortgage and wemlo®, the first third-party mortgage processing solution with an all-in-one digital platform.
Lombardo, a seasoned mortgage and real estate executive with more than 30 years of industry experience, will report directly to RE/MAX Holdings CEO Erik Carlson and serve as a key member of the Executive Leadership Team, stepping into the opening created by Ward Morrison's retirement in June. Most recently, Lombardo served as Chief Operating Officer at Guaranteed Rate Affinity, one of the industry's largest joint ventures between a major real estate brand and a major mortgage lender, where he led daily operations across national mortgage lending divisions. Before his promotion to COO, he held numerous other positions at the company and its predecessor entity, PHH Mortgage, starting as an Account Manager and working his way up to the role of National Vice President of Corporate Relocation and Centralized Sales. Earlier in his career, he spent a decade as Broker/Owner of a fast-growing independent real estate brokerage that expanded into mortgage and other ancillary services under his leadership. "Vic is a phenomenal addition to the team. His background, skills and customer-first mindset will benefit our mortgage operations," said Erik Carlson, CEO of RE/MAX Holdings. "He's focused on finding innovative ways to increase opportunities for Motto Mortgage brokerage owners and loan originators, which in turn will help strengthen offices and build market share. He also has excellent ideas on maximizing the potential of wemlo, our innovative loan processing brand." Said Lombardo: "I've admired Motto since its launch in 2016 and I'm excited to help scale its growth alongside wemlo. Together, we can deliver more innovative solutions and exceptional experiences for brokers, loan originators and their customers." Each Motto Mortgage franchise is independently owned, operated, and licensed. To learn more about Motto Mortgage, visit www.MottoMortgage.com. For more information on wemlo, visit www.wemlo.io. Notice of Issuance of Inducement Grant Under NYSE Rule 303A.08 The Company also announced an inducement award of restricted stock units ("RSUs") to Mr. Lombardo in connection with his appointment as President of Mortgage Services. The award to Mr. Lombardo consists of 75,000 time-based RSUs that are scheduled to vest in equal installments on March 1, 2026, 2027 and 2028. The RSU award was granted outside of the RE/MAX Holdings, Inc. 2023 Omnibus Incentive Plan (the "Plan") but will be governed as if they were issued under the Plan. Vesting of the RSUs is subject to the terms and conditions set forth in the award agreement and the Plan. The RSU award was approved by the Compensation Committee of the Board of Directors in reliance on the employment inducement exemption under NYSE Listed Company Manual Rule 303A.08, which requires public announcement of the award. About RE/MAX Holdings, Inc. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will," "would" and other similar words and expressions that predict or indicate future events or trends that are not statements of historical matters. Forward-looking statements include statements related to the Company's incoming President of Mortgage Services, the benefits of his appointment to that position, growth, technology innovation, strengthening Motto Mortgage offices, and building market share. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily accurately indicate the times at which such performance or results may be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, without limitation, (1) changes in the real estate market or interest rates and availability of financing, (2) changes in business and economic activity in general, including enacted and proposed tariffs and other trade policies which could impact the global economy, (3) the Company's ability to attract and retain quality franchisees, (4) the Company's franchisees' ability to recruit and retain real estate agents and mortgage loan originators, (5) changes in laws and regulations, (6) the Company's ability to enhance, market, and protect its brands, (7) the Company's ability to implement its technology initiatives, (8) risks related to the Company's leadership transition, (9) fluctuations in foreign currency exchange rates, (10) the nature and amount of the exclusion of charges in future periods when determining Adjusted EBITDA is subject to uncertainty and may not be similar to such charges in prior periods, and (11) those risks and uncertainties described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and similar disclosures in subsequent periodic and current reports filed with the SEC, which are available on the investor relations page of the Company's website at www.remaxholdings.com and on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Except as required by law, the Company does not intend, and undertakes no obligation, to update this information to reflect future events or circumstances.
SOURCE RE/MAX Holdings, Inc. | ||
Company Codes: NYSE:RMAX |
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