RE/MAX Holdings names Vic Lombardo as president of mortgage services

DENVER - RE/MAX Holdings, Inc. (NYSE:RMAX) announced Monday the appointment of Vic Lombardo as President of Mortgage Services, where he will oversee the company’s Motto Mortgage franchise brand and wemlo mortgage processing solution. The company, with a market capitalization of $290.7 million and annual revenue of $298.2 million, maintains a strong financial health rating according to InvestingPro analysis.

Lombardo, who brings over 30 years of industry experience, will report to RE/MAX Holdings CEO Erik Carlson and join the Executive Leadership Team. He fills the position left vacant following Ward Morrison’s retirement in June.

Most recently, Lombardo served as Chief Operating Officer at Guaranteed Rate Affinity, one of the largest joint ventures between a major real estate brand and mortgage lender. His career includes progression through various leadership roles at PHH Mortgage and experience as a Broker/Owner of an independent real estate brokerage.

"Vic is a phenomenal addition to the team. His background, skills and customer-first mindset will benefit our mortgage operations," said Carlson in the company’s press release.

Lombardo expressed enthusiasm about his new role, stating, "I’ve admired Motto since its launch in 2016 and I’m excited to help scale its growth alongside wemlo."

In connection with his appointment, RE/MAX Holdings granted Lombardo an inducement award of 75,000 restricted stock units scheduled to vest in equal installments on March 1, 2026, 2027, and 2028. The company noted this award was granted outside its 2023 Omnibus Incentive Plan but will be governed as if issued under the plan.

RE/MAX Holdings is the parent company of RE/MAX, which has more than 140,000 agents in nearly 9,000 offices across over 110 countries, and Motto Mortgage, which has over 210 open offices across more than 40 states. The company’s stock, currently trading at $8.92, appears undervalued according to InvestingPro analysis, with a healthy current ratio of 1.57 indicating strong short-term financial stability. For deeper insights into RE/MAX Holdings’ valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers this and 1,400+ other top US stocks.

In other recent news, REMAX Holdings reported its second-quarter earnings, with an earnings per share (EPS) of $0.39, surpassing analyst expectations of $0.35. Despite this positive earnings result, the company’s revenue was $72.8 million, falling short of the forecasted $73.68 million. This revenue miss marked a 1.19% gap from projections. In addition to financial performance, REMAX announced a significant expansion move by signing a regional franchise agreement in Malaysia. This development extends its presence to more than 110 countries and territories globally. The new Malaysian operation will be led by real estate entrepreneur Kelly Ang, who has over two decades of industry experience. Investors continue to monitor these developments closely, considering both the financial results and the strategic expansion efforts.

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