The executive in charge of Caliber Home Loans at the time of its canceled initial public offering and subsequent sale to what is now Rithm Capital has landed his next position.
Sanjiv Das, who had been CEO of Caliber through January 2022, will be taking over as president of artificial-intelligence underwriting fintech Pagaya Technologies effective Oct. 16, replacing Ashok Vaswani, who will stay on in an advisory role during the transition.
"We're excited to welcome Sanjiv as president of Pagaya," said Gal Krubiner, co-founder and CEO, in a press release. "His global perspective and extensive entrepreneurial experience in the financial sector and capital markets, as well as his proven track record of building and growing global businesses at scale, uniquely positions him to guide Pagaya's lending network and innovative product offerings in this next stage of growth."
For his part, Das said that in the new job, his role is supporting Pagaya in its "vision to enable greater lending opportunities across the banking ecosystem, including being a strong catalyst for financial inclusion."
Before joining Caliber in 2016, Das was an executive at First Data. From 2008 through 2013, he was the CEO, president and chairman of Citi's mortgage division.
Caliber was one of the independent mortgage bankers that tried to go public during the pandemic-fueled housing boom.
It even got as far as having the initial public offering ready to be priced before calling it off in October 2020 because of adverse market conditions.
The company updated its registration statement in January 2021, but by April had agreed to an acquisition by New Residential Investment. New Residential later rebranded as Rithm.
Rithm currently has a confidential registration statement for a mortgage business spinoff that includes Caliber. New Residential set aside a prior attempt to bring that business public due to the Caliber acquisition.
Das initially stayed on at Caliber after the sale, but ended up leaving in January 2022.
