PHILADELPHIA–(BUSINESS WIRE)–Spring EQ, a leading provider of home equity financing solutions, today announced that Founder and CEO Jerry Schiano will transition into the role of Executive Vice Chairman. Joe Steffa, Spring EQ Executive Chairman, will succeed Mr. Schiano as CEO and lead the Company into its next phase of growth.
“Spring EQ was founded on the mission to redefine the home equity financing process by providing American homeowners with simple, tailored, and transparent solutions to unlock their value,” said Mr. Schiano. “Over the past eight years, we have proudly delivered on this mission, helping over one hundred thousand homeowners reach their personal goals through tailored offerings and unparalleled experiences.”
Mr. Schiano continued: “Spring EQ is on a trajectory to make an even greater impact, and now is a natural time for me to step aside from the day-to-day management of the business. I look forward to supporting Joe – a talented leader who deeply understands our business and industry – as he guides Spring EQ in its next chapter alongside our exceptional team.”
Mr. Steffa brings more than two decades of experience structuring and delivering residential financing solutions for customers and institutions. He has served as Spring EQ’s Executive Chairman since February 2024, and over that period, has partnered with Mr. Schiano and the Company’s management team to expand the Company’s platform through investments in technology, new origination channels and partnerships, innovative products, and growth-based operational initiatives.
Mr. Steffa commented: “Under Jerry’s leadership, Spring EQ has become one of the premier home equity financing partners in the country. His vast experience and strategic vision have driven the growth of Spring EQ’s platform across various market cycles.”
Mr. Steffa continued: “I am honored to step into the role of CEO and build upon the strong foundation Jerry has established. With advanced technology and a deep and experienced management team, Spring EQ is well-positioned to help homeowners meet their needs and reach their goals. We remain deeply committed to being a world-class partner and continuing to bring best-in-class products and service to the market.”
About Spring EQ
Spring EQ is a national home equity lender providing flexible and tailored financing solutions directly to consumers with a national network of experienced brokers and partners. Spring EQ offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today. To learn more about Spring EQ, visit www.springeq.com.
