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
ALLIED HOME MORTGAGE CORPORATION, HOUSTON, TX 2011 – PRESENT
Senior Vice President, Secondary Marketing
Executive responsible for interest rate risk management, pricing, loan sales and securitizations, product development, investor relations, warehouse financing and servicing portfolio management for nationally operating mortgage bank managing $600MM of servicing rights with annual originations of $1.5B.
SOMERSET FUNDING CORPORATION (SFC), ATLANTA, GA 2008 – 2010
President
Advised 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 had an ownership interest in a local office of Mr. Handyman, the largest nationally operating home and facility maintenance company.
FEDERAL HOME LOAN BANK OF ATLANTA, ATLANTA, GA 2006 – 2008
First Vice President & Collateral Analysis Director
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.
AEGIS MORTGAGE CORPORATION, HOUSTON, TX 2005 – 2006
Executive Vice President & Director of Capital Markets
Senior 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 Aegis-unique products to investors, gaining primary market competitive advantage.
GMAC MORTGAGE CORPORATION, HORSHAM, PA 2002 – 2005
Senior Vice President & Director of Capital Markets
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 GMAC Mortgage and GMAC Bank.
• 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 GMAC Bank. Completed transfer from third-party in six months.
• Developed daily reports monitoring balance sheet and projecting cost to dispose of problem assets.
FIRST NATIONWIDE MORTGAGE CORPORATION, FREDERICK, MD 1996 – 2002
A WHOLLY-OWNED SUBSIDIARY OF CALIFORNIA FEDERAL BANK
First Vice President & Hedging Manager, Secondary Marketing
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 San Francisco, CA to Frederick, MD, 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.
AMERICAN SAVINGS BANK, IRVINE, CA 1991 – 1996
Assistant Vice President, Investment Trading
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 |
