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Mortgage Company Conversion To Banks

Transformation from Mortgage Company with $8B of Originations to $1.7B Bank

  • Provided strategic advice from concept to execution, including acquisition negotiations, pricing, and unique escrow solution to address prospective credit risk in acquired bank’s loan portfolio
  • Completed $40MM capital raise to enable transaction
  • Developed Acquisition Business Plan and worked closely with external counsel to file all necessary State, FDIC, regulatory applications/notifications to gain approvals
  • Developed governance, risk management, technology, compliance, and other policies and procedures necessary to gain regulatory approval
  • Implemented new funding and liquidity strategy using FHLB advances, digital deposits and institutional cash management to generate funding for combined bank and mortgage operations
  • Drove mortgage and banking digitization, negotiated new vendor agreements, and onboarded change management team; completed bank technology transformation and implemented 2-year digitization plan for mortgage; and outsourced IT infrastructure
  • Provided leadership throughout the +2-year transformation, with key advisory team members serving as CEO, CRO, CTO, CIO, and CBO