SUMMARY
A Mortgage Banking and Financial Services professional with extensive and diversified mortgage capital markets, operations, finance and business planning experience with exceptional leadership, analysis and problem solving skills balanced with strong interpersonal skills. Outstanding ability to create vision, identify opportunities and build organizations. Expertise in disciplines including:
* Secondary Marketing
* Capital Markets
* Product Development
* Loan Sales and Securitization
* Balance Sheet Management
* Pooling and Delivery
* Interest Rate Risk Management
* Investor Relations
* Government Post Closing
* Due Diligence Review
* Quality Assurance
* Credit Policy
PROFESSIONAL EXPERIENCE
PRESIDENT 2008 – PRESENT
Advise hedge fund and investment managers in the areas of financial and business services, real estate, government and regulatory affairs and accounting and financial analysis. SFC also has an ownership interest in a Mr. Handyman franchise, a local office of the largest nationally operating home and facility maintenance company.
FIRST VICE PRESIDENT & DIRECTOR OF COLLATERAL ANALYSIS 2006 – 2008
Directed the collateral operations, documentation and verification review areas of a $195B cooperative bank offering low-cost secured financing to commercial banks, thrifts, credit unions and insurance companies. Oversaw the calculation of collateral discounts (haircuts) for and the valuation of all mortgage and security collateral pledged to the Bank to make certain the Bank at all times had no exposure to loss from a liquidation of a member in default.
* Monitored in excess of $350B of mortgage and security collateral pledged by more than 1,200 bank members to secure $140B in borrowings.
EXECUTIVE VICE PRESIDENT & DIRECTOR OF CAPITAL MARKETS 2005 – 2006
Executive responsible for all prime and subprime interest rate risk management, pricing, whole loan sales and securitizations, investor relations, new product development and loan pooling and delivery for nationally operating mortgage company with originations of $20B.
* Put into action subprime whole loan sale program executing $2.5B in sales over four-month period.
* Secured $750M in liquidity through blended gestation and traditional warehouse funding line.
* Implemented subprime pipeline interest rate risk hedge using forward-starting amortizing swaps mitigating exposure to interest rate fluctuations prior to whole loan sale or securitization.
* Integrated prime and subprime secondary marketing teams into one functionally-organized team leveraging all technical proficiencies for both businesses.
* Founded Pricing Committee to set pricing strategies, achieving profitability and production goals.
* Marketed firm-unique products to investors, gaining primary market competitive advantage.
SENIOR VICE PRESIDENT & DIRCTOR OF CAPITAL MARKETS 2002 – 2005
Led team of over 100 people responsible for interest rate risk management, loan sales and securitizations, product development, collateralized funding facilities, investor relations, government loan insuring, collateral management and loan pooling and delivery for nationally operating mortgage bank managing $214B of servicing rights with annual originations of $115B.
* Delivered $805M in trading gains, representing more than 50 basis points of realized face.
* Issued $144.4B Agency securities and $15.7B private securities.
* Executed $8.4B whole loan sales.
* Introduced 69 mortgage products and 30 pricing initiatives for mortgage company and bank subsidiary.
* Reduced interest expense $3.5M by modifying existing mortgage origination work and data flows, optimizing use of primary asset-backed commercial paper conduit.
* Decreased interest expense $2.1M over six-month period by moving home equity originations more quickly to lowest cost funding sources.
* Instituted day-current collateral precertification identifying deficiencies immediately after funding.
* Set up document custodian under bank subsidiary. Completed transfer from third-party in six months.
* Developed daily reports monitoring balance sheet and projecting cost to dispose of problem assets.
FIRST VICE PRESIDENT & HEDGING MANAGER, SECONDARY MARKETING 1996 – 2002
Managed team of 40 persons responsible for all primary market loan pricing, interest rate risk management, loan sales, purchases and securitizations for nationally operating mortgage bank managing $114B of servicing rights with annual originations of $25B.
* Exceeded annual gain on sale targets 12 basis points on average over six-year period.
* Consummated first sales of non-conforming prepayment-option originations resulting in more than $10B in REMIC issuance.
* Promoted conforming prepayment-option products enhancing secondary market execution 75 basis points over six-year period.
* Accomplished transfer of all capital markets activities from California to Maryland, growing inherited staff of three persons into vertically-integrated business unit of 40 persons.
* Consolidated pipelines from five front-end systems from five acquisitions to a single front-end platform and inventory and interest rate risk management system.
ASSISTANT VICE PRESIDENT, INVESTMENT TRADING 1993 to 1996
MANAGER, COMMERCIAL LOAN SALES 1992 to 1993
SENIOR FINANCIAL ANALYST 1991 to 1992
ASSISTANT VICE PRESIDENT & TEAM LEADER 1989 – 1991
EDUCATION & AFFILIATIONS
MBA, William E. Simon Graduate School of Business Administration, University of Rochester, Rochester, NY
BS, Computer Science, Rochester Institute of Technology, Rochester, NY
MORTGAGE BANKERS ASSOCIATION, Secondary and Capital Markets Committee, Ginnie Mae Working Group, Federal Home Loan Banks Working Group, Regulation AB Task Force |
