American Financial Resources Appoints New CEO and COO Following Record Q1 Performance

PARSIPPANY, N.J., April 16, 2025 /PRNewswire/ -- American Financial Resources (AFR), a leading national mortgage lender, today announced the promotion of Robert Pieklo to Chief Executive Officer (CEO) and Michael Brenning to Chief Operating Officer (COO), effective immediately.

These strategic leadership changes follow a record-breaking first quarter in which AFR nearly quadrupled its Q1 loan origination volume year-over-year — with production in the wholesale channel alone increasing nearly 700%.

This extraordinary growth was achieved with only a modest increase in headcount, underscoring AFR's investment in scalable technology, operational efficiency, and its unwavering commitment to broker partners. Being highly focused on the customer experience has resonated with the broker community.

Pieklo, who was appointed COO following AFR's acquisition in February 2024, has been instrumental in the company's transformation. His focus on modernizing the mortgage process and enhancing the experience for both customers and team members has helped reposition AFR as a leader in the space.

"I'm incredibly grateful to step into the role of CEO and lead this great organization into the next chapter of this growth story," said Robert Pieklo, CEO of AFR. "This industry is not for the faint of heart, and AFR's momentum reflects our team's alignment around a shared vision. It is not coincidence that our growth accelerated after Michael Brenning joined the team — and while I'm honored to take on the CEO title, I'm even more excited to see Michael step into the COO role he's more than earned."

Brenning, who previously led production, has been a driving force in streamlining operations and expanding AFR's reach. As COO, he will continue to focus on optimizing internal processes and driving long-term growth through innovation and collaboration.

"It's an honor to take on this role and continue working alongside such a passionate and committed team," said Michael Brenning, COO of AFR. "Our growth is fueled by the trust our brokers and correspondents place in us. We'll keep investing in ways to make their lives easier and their businesses stronger. We know what it takes to win, and AFR will be shoulder to shoulder with our partners as we build the future — together."

AFR's momentum has been powered by enhanced pricing strategies, the launch of new channels, a renewed focus on the customer experience, and strategic leadership hires throughout 2024.

Craig Cohen, Managing Member of Proprietary Capital and Chairman of the Board, added:
"The growth numbers speak for themselves. Robert and Michael have been essential to AFR's transformation, and we're confident they'll continue to elevate the company to new heights."

About American Financial Resources (AFR)
American Financial Resources, LLC (AFR) is a national leader in residential mortgage lending. Known for its focus on innovation, operational efficiency, and broker-centric solutions, AFR provides a wide range of mortgage products to meet the needs of today's borrowers. American Financial Resources, LLC is an Equal Housing Lender and Equal Opportunity Employer. NMLS 2826 at www.nmlsconsumeraccess.org. For more information, visit www.afrcorp.com.

SOURCE American Financial Resources, LLC