Rick Bechtel, an industry veteran with more than 30 years of mortgage experience, has been named by Compass as the new president of mortgage. This role will include overseeing the mortgage origination company OriginPoint: Compass’ recent joint venture with Guaranteed Rate.
Previously, Bechtel served as the executive vice president and head of U.S. residential lending at TD Bank. He also held other leadership roles at Chase, Wells Fargo and CIBC. And now, he’s especially excited to join Compass.
“Compass is building the first platform for the real estate industry where agents will have end-to-end visibility on the entire transaction process. Lending is a time-consuming and complex component of this process and agents, the central figure in every transaction, are often completely in the dark during this crucial time,” Bechtel said in a press release. “At Compass, we aim to change this by giving agents a birds-eye-view of every step of the home buying journey. My first priority at Compass is building out a world-class leadership team, and I welcome any mortgage industry professional that shares this vision of a more seamless transaction process to join me.”
Robert Reffkin, Compass’ founder, chairman and CEO, also looks forward to Bechtel’s professional transition. “I’m thrilled to welcome Rick to the company because he understands that buying a home is the most emotionally and financially significant decision of most people’s lives and the role of the agent is to make the process as stress-free as possible,” he said.