Peter Boomer is joining Regions Bank as its new head of Mortgage.
A mortgage industry veteran with more than 30 years of experience, Boomer will join Regions Mortgage Aug. 14 to lead a combined retail production and residential real estate fulfillment team.
I am honored to join this team and build on Regions’ success serving customers in some of the highest-growth, most-attractive markets in the entire U.S.Peter Boomer, head of Mortgage
He follows Michelle Walters who is retiring from Regions after spending the last 15 of her more than 30-year financial services career at the bank. Before becoming the head of Mortgage Production in 2022, Walters previously served as an area president and regional executive for Regions’ Consumer and Commercial Banking businesses.
“Regions’ mortgage bankers have experience serving customers in every economic cycle,” Boomer said. “And since they provide relationship-based guidance and advice, customers know we will take the time to truly listen and find the solution that best meets their individual needs.
“I am honored to join this team and build on Regions’ success serving customers in some of the highest-growth, most-attractive markets in the entire U.S.”
The mortgage industry experience Boomer brings to Regions includes 13 years as head of Mortgage Distribution at PNC where he led an organization serving mortgage customers through local, centralized and digital origination channels. He also managed the teams servicing and fulfilling the loans and directing research and strategy to improve offerings and the customer experience.
At Regions, Boomer will report to Kate Danella, head of Consumer Banking. Consumer’s three business groups are Regions Mortgage, Retail Banking and Regions EnerBank, which offers consumer home improvement loans through its national network of independent contractors.
I’m excited to welcome Peter to the Regions team and know he will help us further deepen customer relationships and accelerate the progress we’ve already made to give customers a personalized path to financial confidence through home ownership – and to become their premier home lender.
‘Opportunity to become part of something special’
Boomer said Regions’ people-first culture and the “chance to become part of something special” drew him to the company.
“Everyone I met at Regions spoke with true passion about their associates and customers and the mission to make life better for customers,” he said. “For me, this is a wonderful opportunity to become part of something special — an organization with a rich history, great people and all the advice, guidance and solutions needed to help people achieve financial confidence through homeownership.”
Despite the challenges of the current housing market, Boomer remains bullish about the mortgage business and the role of mortgage businesses at banks like Regions. He said their access to capital and balance sheets mean they don’t have to find purchasers for their loans but can service what they sell and focus on customer relationships.
For me, this is a wonderful opportunity to become part of something special — an organization with a rich history, great people and all the advice, guidance and solutions needed to help people achieve financial confidence through homeownership.Peter Boomer
“I truly believe there is something noble with what we do as a mortgage lender because we help people achieve the American Dream, and it’s incredible to be part of that customer journey,” Boomer said. “I have seen homeownership impact individuals, families and communities in so many positive ways.
“Homeownership is one of the best ways to accumulate and create multi-generational wealth. Regions Mortgage is a cornerstone of the bank’s mission to make life better — one person and one personalized path to financial confidence at a time from someone who cares.”
Giving back
A 1986 graduate of the University of Western Michigan with a bachelor of science degree in marketing and communications, Boomer and his wife, Jana, have two grown children who share their commitment to community service and philanthropy.
Even more important than giving money is the giving of your time and skills – why I’m looking forward to joining Regions Associates in Action® in Birmingham and putting my time and skills to work there in the community.Peter Boomer
Even after relocating from the Chicago area to Birmingham, Alabama, later this summer for Regions, Boomer plans to continue the work of their foundation benefitting high school athletes in Illinois.
“One of the values my wife and I share and that we’ve tried to instill in our children is ‘you have to give back,’” Boomer said. “I was sitting on a high school athletic board and saw firsthand how some kids could not play a sport because they or their parents couldn’t afford the various fees.
“Each year, our Athletic Hardship Endowment Fund helps dozens of boys and girls get the assistance they need to be able to participate in the sports they love like hockey or gymnastics. Even more important than giving money is the giving of your time and skills – why I’m looking forward to joining Regions Associates in Action® in Birmingham and putting my time and skills to work there in the community.”