Overview
- Rate announced on Oct. 21 that Stenger will oversee its retail platform and core systems, including Rate Digital Mortgage, the PowerVP pipeline tool, AI underwriting and SameDay Mortgage.
- Stenger joined after stepping down as Movement Mortgage’s COO earlier this month, as Movement named Lyra Waggoner COO and Anna Benz chief fulfillment officer and rolled out its new MORE LOS after a three-year tech overhaul.
- Rate cites Stenger’s track record overseeing about $130 billion in production over the past five years at Movement, with more than $200 billion over the last decade, according to company statements.
- CEO Victor Ciardelli and President Shant Banosian cast the hire as a strategic addition aimed at elevating originator performance and scaling national growth.
- Rate ranked ninth among U.S. mortgage lenders in the first half of 2025 with $20.2 billion in originations, according to IMF, and operates more than 850 branches nationwide.