Dawar Alimi
CEO and Co-Founder
Lender Price
Pasadena, Calif.
An Afghan refugee and a mortgage innovator, Dawar Alimi has embraced adversity as a source of strength and growth. “My experiences have given me a unique perspective, and I believe that my background can inspire others to push through difficult times and achieve success,” he says. “Life’s challenges have helped to deepen my skills, perspectives, and gratitude for what I have.”
Working in the mortgage industry has taught Alimi, 48, the importance of making a difference. “It’s an opportunity to help people achieve their dreams of homeownership and make a positive impact in their lives,” he says. “It’s remarkable to be part of such an industry that is central to the economic growth of the country. By providing top-notch service, valuable advice, and building trust with clients, I see the difference that I am making, not only in their lives but in the industry at large.”
Alimi is proud to have led the development of Lender’s mortgage pricing engine. “With my expertise in algorithms, data analytics, and machine learning, I’ve helped revolutionize mortgage pricing and loan management, simplifying the process for lenders and borrowers,” he says. “The engine enables accurate pricing options and helps lenders stay competitive in fluctuating markets. By identifying opportunities for optimizing pricing and loan terms, we’re providing better rates and streamlining the mortgage process, enhancing the industry overall.”
Rick Webster, Lender Price’s chief marketing officer, praises Alimi’s accomplishments. “Running several different mortgage-related companies over the years and building award-winning financial technology that continues to be embraced by some of the largest banks, lenders, IMBs and credit unions in the nation, Dawar has earned a spot as a well-respected thought leader in financial technology and innovation,” Webster says.
Alimi identifies the mortgage industry’s most pressing challenge at the current time as margin compression, due to increased government regulation and intense competition. To provide more loan program options, he says, many larger lenders have diversified their product offerings. His company’s pioneering mortgage pricing engine opens lenders up to real-time insights on market trends and risks while helping them to manage their loan pricing.
“This optimization of pricing and loan terms helps lenders remain competitive while also maintaining healthy margins, providing a valuable tool for navigating challenging market conditions,” Alimi says.
Allycyn Bennett
Senior Loan Advisor
Sandstone Financial
Newport Beach, Calif.
Allycyn Bennett believes the best way for purchase transactions to go smoothly needs to happen even before the process begins. And that’s educating real estate agents, consumers, and potential borrowers on the pertinent information related to qualifying for a loan. This way, she says, “All parties will be more satisfied with my services.”
Her teaching happens during weekly talks to small and large groups of real estate agents, on social media, and through newsletters that hit email inboxes once a week.
“By posting regularly on social media outlets, I am able to share valuable mortgage tips and economic information to help educate future buyers as to what steps they need to take to make home ownership possible,” she says.
The 59-year-old senior loan advisor sees her path to becoming a legend of lending guided by a piece of valuable advice she once received: to be honest and forthright.
“(They) are two of the most important attributes that lead to being trusted and successful,” she says. “At the same time, being responsive by answering emails quickly and picking up the phone when it rings also contribute to building trust with agents and borrowers.”
Kristine Smith, the CMO of Surterre Properties, touts Bennett’s record of accomplishment.
“Having closed over $90 million in loans in a single year, Allycyn boasts a proven track record of a 99.3% closed-to-origination ratio,” says Smith, who nominated Bennett. “Well-versed in all aspects of mortgage lending, she possesses a depth of experience in both conforming and non-conforming loans, as well as packaging to private, institutional, and government underwriters.”
“Allycyn’s client profile ranges from first-time home buyers to very experienced borrowers with diverse financial backgrounds and extremely complex financial portfolios,” Smith adds. “Formula packaging has no place in Allycyn’s approach to mortgage lending.”
As for the longevity of the mortgage industry, Bennett is concerned that not many young people or college graduates are electing to become originators. That, coupled with the fact that many originators will be retiring in the next five to 10 years, she says, poses a problem.
But like the legend in lending that she is, Bennett has just the niche for these future young lenders to occupy. “The uncertainty of the role that AI may occupy in the mortgage industry in the future creates the need for further discussion about how to integrate AI into the mortgage process,” Bennett says. “Young people can bring new creative methods and solutions to this industry which is essential in order for people to secure homeownership.”
Tim Birkmeier
President
Rocket Mortgage
Detroit, MI
Curiosity has not killed Tim Birkmeier. In fact, it’s actually made him stronger.
“One of my leading values is staying curious and wanting to know more about the people I work alongside and the clients I interact with daily,” the 52-year-old Birkmeier says. “I feel the best way to gain insight on your teammates is by asking how they would solve a problem or improve the business. Asking our clients questions beyond the surface enables me to build commonalities and mutual trust.”
A longtime mentor of Birkmeier has a saying: “You’re like a tree - you’re either growing or you’re dying.”
“There is no status quo, only status grow,” he says. “It’s easy to get caught up in the day-to-day regimen. Real growth comes from taking a step back, identifying where you want to get better, and then actively taking steps to improve yourself, consistently.”
Birkmeier’s focus over the past five years has centered on Rocket Mortgage’s partnerships and striving to find strong allies for the company’s brand and services.
“My team and I have made great strides in partnering with industry leaders and providing services to our clients that make sense for their financial wellness,” he says. “We continue to find ways to innovate the mortgage industry, including arming insurance agents and financial consultants with loan origination knowledge and technology to offer additional services to their already developed clientele relationships.”
Valerie Pesonen, senior public relations manager at Rocket Central, believes Birkmeier’s positive attitude and client-centric mentality are infectious, creating an attractive culture for mortgage bankers.
“He fully believes in cultivating a workplace where team members do meaningful work, and he understands the true impact loan originators have by helping individuals and families unlock financial freedom and achieve their dream through homeownership,” Pesonen says.
Birkmeier laments the length of time it takes for a mortgage transaction to get from application to closing, and is constantly working on making the process more efficient.
“My team and I have been hard at work to push the envelope on how quickly a home loan can be completed, and we have seen turn times as low as seven days,” he says. “With a focus on innovative technologies and streamlining the mortgage process, we’re able to provide a better mortgage experience to our clients, as evident through our multiple J.D. Power wins.”
John Cady
Senior Vice President
Retail Cardinal Financial
Irvine, Calif.
John Cady believes that the mortgage industry is an exercise in work ethic and effort is the foundation of success. Those words came straight from Cardinal Financial’s Senior VP of Retail, who holds himself to the highest standards as a mortgage expert.
“One of the many things I love about our industry is the ability to control your own destiny, your own effort, and your own brand,” Cady says. “Those who will experience legendary success will go above and beyond to delight homebuyers and chase greatness. Putting your boots on the ground, stepping out from behind the desk, and doing what it takes to build and maintain solid relationships is how to thrive in this business and is something I believe is a necessity rather than an option.”
Cady’s two career mentors instilled in him that having high standards is the only way to do business. They told him if you build the right team, lead with confidence, and leverage what each contributor brings to the table, you’ll be on your way to success.
“Having these principles instilled in me from the beginning played a big role in my career as a producer as well as my transition into leadership,” Cady, 51, says. “As I now have the opportunity to lead our growing team of mortgage experts, I make it a priority to exemplify and instill these same principles in our team.”
He holds true that the fundamentals of hard work, great service, and solid communication are always the foundation for success, even when market conditions and new technology are making waves.
“With the incredible amount of talent in the next generation of mortgage legends, the swift changes in the housing market, and the rapid pace of innovation we see in the industry, I believe mentorship, training, and professional development will empower emerging professionals to lead our industry toward a bright future,” Cady says.
He imparted this wisdom on the more than 600 new loan originators he mentored throughout his career, according to Adrea Reed, Cardinal Financial’s regional marketing director, who nominated Cady. “In John’s 30-plus years in the industry, he has cemented himself as a highly respected leader and mentor,” Reed says. Cady rises above the lingering temptation to be consumed by the neverending stream of noise, which he says is one of the main challenges facing industry professionals today.
“It’s easy to lose sight of the big picture and hold ourselves back from success,” he says. “While it’s certainly important to understand the market we’re in, there are always things we can control and things we can’t, and I’ve continued to promote the idea that mortgage professionals should focus their efforts on taking care of the things within their control. If you continue to get out there every day, meet people, return every phone call, act with integrity, and establish relationships built on trust, you’ll be in a position to succeed, no matter what the latest headlines may say.”
Keith Canter
CEO
First Community Mortgage
Murfreesboro, Tenn.
Keith E. Canter is driven each day by service. “I firmly believe that any organization can only achieve sustainable success if it serves its stakeholders with the utmost dedication and commitment,” Canter says. “The principle of being in service to stakeholders is not just a business strategy, but also a moral obligation for any responsible organization.”
In tune with its motto, “We Serve Four” - FCM recognizes the importance of clients, team members, shareholders, and community, striving to serve each of them effectively. That’s because the company’s CEO recognizes that relationships are the cornerstone of any successful business.
“While technology and processes play crucial roles in achieving success, in the end, it is the quality of relationships that determine the longevity and success of a business,” Canter says. “Whether working with clients, vendors, or our internal team, building strong and deep relationships is essential for long-term success. Actions speak louder than words, so it’s important to follow through on promises and commitments to show that you value the relationship.
“In the end, building strong relationships takes time and effort, but the benefits are invaluable.”
Canter’s focus over the past 21 years has been on building a company that will continue to serve its stakeholders long after he has left the organization.
“This vision drives every decision we make, from investing in our people to refining our processes and platform,” he says. “Our goal is to build a company that is much more than just one person, but instead, an institution that is known for providing exceptional service to all our stakeholders.”
The primary challenge facing the mortgage industry today, Canter believes, is an excess of capacity. Due to a significant reduction in the mortgage market from over $4.5 trillion in 2021 to well below $2 trillion projected for 2023, the industry is experiencing significant contraction.
“FCM’s strategy to address this challenge has been to expand into new markets to increase revenue, optimize expenses, and implement extensive innovations and process enhancements,” he says. “The leadership team’s efforts to restore equilibrium to the organization have been exemplary, and I am extremely proud of their efforts.”
Lily Shepler, FCM’s marketing communications coordinator, highlighted Canter’s people-oriented approach in her nomination. “Keith Canter’s legendary leadership starts with his commitment to put people first,” Shepler says. “Easier said than done, he devotes his generosity to his employees, community, and stakeholders, which in turn fuels the business.”
Kevin DeLory
Chief Lending Officer and Partner
EPM
Warwick, R.I.
Kevin DeLory says he lives by three legendary values: honor, respect and love. “Without one it’s hard to have any, and I live every day with those at the top of my mind,” he says.
DeLory, 51, says that in a quick-moving industry, he tried to keep pace just as quickly. That is, until wise words were delivered from a special friend who has since died.
“He said, ‘Slow down, not everyone is going to move as quickly as you do.’ The advice has stayed with me through my career,” he says. We are training new salespeople every day, we are working to build legacies across the entire TPO space in this division at EPM. Sometimes slowing down and making sure everyone understands and simply asking if they do can make all the difference.”
DeLory says he could not be more excited for the next generation of salespeople.
“When I think about our partners and how our core values as individuals align so brilliantly with the core values of the organization, it really allows all of us to be the best versions of ourselves and give that back to our partners,” he says.
DeLory is proud of EPM’s training programs and the resources it has; together they are the future of the mortgage industry.
“The future is in our ability to see and teach the salespeople coming up so they can carry on what we have built in this amazing industry who give so many homeownership,” he says.
Kenny Phillips, senior vice president of lending at EPM, says of DeLory. “There are not many leaders who lead by being in the trenches with their people. … Kevin has built an empire and has doubled and tripled it year after year even while facing adversity in the markets or by those who may have not believed in him. Kevin’s people would follow him in a burning building and all of them would come out better people because of it.”
Everyone who knows him, DeLory says, knows that community is his priority after his people.
“We are breaking down the silos and letting everyone have a seat at the table together.”
This way, he says, “We can all learn and grow from each other and the only people who stand in our way are ourselves.”
Ed Fay
CEO
Fay Servicing
Tampa, Fla.
Pulling in the “best” and “smartest” mortgage operators in the business has driven Fay Servicing and its CEO Ed Fay to great success.
“The only time I want to be the smartest person in the room is when I am alone,” the 48-year-old Fay says. “This has allowed our organization to excel and grow way beyond what I could have accomplished on my own. I’ve been fortunate in my career in that I’ve met so many really great people who are experts at what they do. I am thankful that others have seen the value in what we are trying to build here so they are happy to come on board and use their talents to continue our forward momentum.”
One of these key players is CFO Robert Miller, according to Fay.
“As we spoke about some crazy market valuations years ago, he casually said to focus on value creation, and we would be successful. ‘Focus on value, not valuation’ has become our mantra since that day,” he says. “We are always looking for innovations and entrepreneurial ideas that can drive our day-to-day performance and growth, but always with an eye to what it drives in value for our organization, our clients or, most importantly, to our customers.”
The company’s position has propelled it to design products, pricing, and servicing to help close the wealth gap for minorities through homeownership.
“We need to continue educating prospective homeowners about rent-versus-buy and why buying might be a great option for them to create generational wealth,” Fay says. “An increase in minority homeownership of just 833 families a month for the next 10 years would decrease the racial wealth gap by almost $250 billion in just one generation.”
Most servicers aren’t set up to manage customers in distress, instead focusing on the accounts of the masses. Fay has poised his organization to remain smaller, so it has the ability to pivot quickly and focus on the segment that needs the most care – individuals who are struggling with their mortgages.
“Our team understands that we don’t service loans; we serve people just like them,” he says. “This has allowed us to help tens of thousands of customers remedy what’s probably the most difficult financial situation in their lives and to remain homeowners.”
“As a special servicer, Ed and the company are proud of their industry-leading results in taking loans in foreclosure and getting customers out of foreclosure while growing a stable and profitable non-default servicing business,” says Thomas Bowman, vice president, corporate communications at Fay Servicing, who nominated Fay.
Carlene Graham
Chief Operating Officer
Residential Redwood Trust
Denver, Colo.
Carlene Graham imparts the “single most important” piece of advice she ever received to new lenders and that’s to honor their own instincts.
“You must believe in yourself and believe in you,” she says.
That self-love has propelled her up the ladder of success in the mortgage industry, climbing from loan processor to her current role as CEO.
The most important value to Graham is what defines her as a legend of lending.
“Demonstrating integrity regularly means building honesty into your everyday routine,” she says. “Living the value of integrity requires holding yourself accountable, accepting responsibility, and facing the consequences of your actions.”
A veteran of more than 20 years in the mortgage industry, Graham, 53, is committed to bringing young professionals into the business.
“We must do a better job at mentoring our young people and paving the way for them to succeed,” she says. “We have to invest in people. The most important asset that companies have is their human capital.”
Tuan Pham, chief marketing officer at CoreVest Finance, nominated Graham.
“Carlene has demonstrated exceptional management and leadership skills during her tenure with Redwood and has earned the highest respect from her colleagues and peers,” Pham says.
“Carlene willingly takes on new challenges, leads by example, and engages her team to pursue their shared vision. Her positive attitude, commitment to excellence, and ability to inspire others plays an integral part in the success of the company.”
For Graham, this translates into volunteerism and advocacy. A member of the Diversity and Inclusion Committee for the Structured Finance Association and a member of Women in Securitization, Graham has regularly hosted, moderated, or spoke on panels and events. She is also on the advisory board for the University of Colorado’s Leeds Business School and the board of directors of The Gathering Place in Denver, a service provider combating poverty and homelessness.
As she moves forward in the industry, Graham sees an increased need to help businesses reduce cybersecurity and technology risks by incorporating technology and data analysis into mortgage company operations, delivery channels, and platforms.
“Digitizing mortgage processes can also help reduce operation costs and improve the customer experience,” she says.
Jonathan Hallstead
VP Division Manager
Retail Lending Cardinal Financial
Irvine, Calif.
Jonathan Hallstead never wants to become stagnant, no matter how great his success.
“It’s important to always be innovating, embracing new technologies, and implementing better solutions,” he says. “Whether you’re aiming for an elevated client experience, increased efficiency in the mortgage process, or more effective sales strategies, you’ll find success if you’re always looking for revolutionary new ways to push the industry forward.
“Never be afraid of trying something new. There is immense value in always seeking a new and better way to do business.”
Hallstead, 40, says the best advice he’s ever received is to always invest in people, add value, and create a better life for those around you. “In our business, we’re positioned to have a massive impact on the lives of those in our communities, serving as their partner through their biggest and most important investments,” he says. “They put their trust in us, and we must deliver for them.” He sees a bright future for the mortgage industry through instilling successful habits and training the next wave.
“The impactful mentors I’ve been lucky to have throughout my career have served as a catalyst for my own success,” he says. “I now aim to pay it forward through sales training and professional development programs that emphasize the importance of embracing innovation and creating better, more efficient mortgage experiences.”
Adrea Reed, Cardinal Financial’s regional marketing director, can attest to the fact that these are Hallstead’s top priorities, as she nominated him for the honor.
“Jonathan has fostered the growth and success of future mortgage leaders through mentorship, sales coaching programs, and emphasizing the importance of implementing cutting-edge industry innovations,” Reed says.
Hallstead acknowledges the rapidly changing market conditions facing the mortgage industry, a shift away from an exceptionally low-rate environment to one that has been marked by many rate adjustments and uncertainty.
“I believe many would say navigating this market is their biggest challenge going forward, and understandably so. It’s good to be aware of your circumstances,” he says. “However, I believe the way to address this problem, and many other hurdles we often face in the industry, is to always be looking for opportunities. Set goals, persevere, and focus your energy on the opportunities in front of you rather than things outside your realm of influence.
“I’m working to promote the idea that we control our own destinies and can persevere in any environment with the right mindset and unwavering determination.”
Hallstead continues to develop training and coaching programs to facilitate the growth and development of industry professionals, and leads discussions through the California Association of Mortgage Professionals’ High Trust Elite Coaching Program.
Roy Jones
Founder/Chairman
Thrive Mortgage
Georgetown, Texas
Roy Jones is a name that resonates throughout Texas, first and foremost as a professional who can be trusted, respected and who is willing to help the mortgage industry, says Randell Gillespie, executive vice president and national sales manager at Thrive Mortgage.
“Roy is also known for emphasizing his priority and goal of providing the greatest career and life as possible for those around him,” Gillespie says. “He knows that to leave this industry better than he found it, you must first start with inspiring those that represent your company. They in turn then encourage and excite their clients, all to make this better for everyone.”
Since Jones, 67, founded Thrive in 2001, it has consistently been ranked as one of the top mortgage companies to work for. In 2019, for the third time in four years, it was named to the Inc. 5000 list of fastest-growing privately owned companies in the U.S. In 2018, Thrive was inducted into the Baylor University Institute of Family Business Hall of Fame.
These honors, says Gillespie, bring respect and credibility to the mortgage industry.
Thrive was recognized in 2018 as the first company in Texas to close a digital loan. It went on to become the first in Colorado as well. Additionally, says Gillespie, Thrive was the first to accept crypto currency in the buying process.
Thrive, says Gillespie, brought out the first comprehensive buyer incubation program, called Thrive4Home. The program places aspiring homeowners into a no-cost buyer education and assistance program with Thrive, which works with would-be buyers to get them into a position to qualify for mortgages. The program has caught the attention of many industry organizations as a model to increase access to home ownership.
Nationally, Jones may not be as recognizable by name alone, as he is a humble leader that shies away from attention and limelight, says Gillespie. Instead, Jones chooses to lift up around him and inspire those he “partners with” to be the best.
“Anyone who has ever dealt with Roy will always remember him as both pleasant and committed to them and their need,” Gillespie says. “Roy Jones is a legend in lending, because he lives out and develops leaders around him and in our industry in all the things that should be recognized in our profession.”
“The financial sector desperately needs trustworthy, competent, inspiring and high-integrity leadership like Roy Jones.”
James Mac Pherson
CEO
Academy Mortgage
Draper, Utah
What he defines as ‘the ability to act in the face of fear for an espoused virtue with moral intent’ guides James Mac Pherson’s life and career.
“Courage is part of my foundation, but it is also the foundation of Academy Mortgage’s Core Convictions, which direct not only the actions of our company but our behaviors. They embody what we truly believe, and we hold onto them regardless of any success or challenge we face,” he says.
Mac Pherson, 47, strives to live by this famous quote from Harry S. Truman: “It is amazing what you can accomplish if you do not care who gets the credit.”
“As a leader I believe it’s important to face the hard things head on - not for yourself, but for others,” he says.
Mac Pherson also believes that the mortgage industry is not just about numbers, but actually helping people. That mindset is one he tries to impart on others.
“I hope that one day our industry will shift their focus to view every loan closed as an individual or family obtaining the dream of homeownership,” he says. “Through homeownership, families can create multigenerational prosperity for future generations - giving them a greater opportunity for higher education, better health care, and an opportunity to pursue their dreams.”
“James has a gift of listening to others in a way that makes them feel heard and valued,” says Kaylyn Rafferty, communications specialist at Academy Mortgage. “James understands the importance of investing in others to help them achieve their potential. He is constantly looking for teaching moments and will always have the time to touch the lives of others in unique and subtle ways.”
One of the main problems Mac Pherson sees facing the mortgage industry today is the prioritization of technology over workers themselves.
“A non-negotiable at Academy Mortgage is that our people are our most important asset,” he says. “I believe it is crucial that we don’t leapfrog the loan officer with technology and compromise the personal experience for the customer.”
Academy Mortgage is committed to elevating its loan officers, not only with technology but as individuals, to help them and their business achieve their full potential. Mac Pherson’s words.
“It’s important that we don’t overlook our people and the true difference they can make in the lives of others,” he says.
Stanley Middleman
President and CEO
Freedom Mortgage
Boca Raton, Fla.
Stanley Middleman’s most important value is a simple one: his word.
“It’s important to say what you mean and do what you say. In all aspects of our business and in life, credibility is crucial,” he says. “It’s important that people trust you and have confidence in what you say and do.”
This value system has helped Middleman grow Freedom Mortgage into one of the largest lenders in the country over the past 30 years.
“I’m so proud of our accomplishments through our relationships with all our stakeholders,” he says.
When he started in the business, Middleman, 69, was alerted by a savings and loan company’s leader that real estate is cyclical. This leader’s main point was that real estate values and the economy ebb and flow with a tidal effect.
“I took his comment to heart and, over the past 40 years, it has proven to be true, which made it easier for me to predict what may be next within our industry,” he says. “A tremendous amount of the successes we’ve been able to enjoy at Freedom Mortgage have been tied to the fundamental understanding of the tidal forces of the world that we live in. That was the most valuable advice I ever received.”
Middleman believes that a lot of his and his company’s success is a result of networking at industry events.
“As I was growing my business, I encountered business owners like me, and I found many view everyone as an adversary rather than someone to learn from,” he says. “This didn’t sit well with me, because I believe that, even if you know what I did or know what I know, it doesn’t mean you can do what I’ve done.”
With this, he vowed to share his knowledge, even with competitors.
“My contribution is sharing information and insights that I’ve worked hard to accumulate,” Middleman says. “I make time to do interviews, mentor, and speak at events.”
“Stan is a compassionate leader who cares for his employees and promotes the right culture. Most importantly, he values doing good along with doing well,” says Ellen Longo, Freedom Mortgage’s vice president of public relations, who nominated Middleman.
One problem Middleman sees in the industry is the lack of institutional knowledge as well as peers forgetting that many of the issues are cyclical.
“Since our industry is so interest-rate sensitive and government dependent, I stress the importance of focusing on responding to the changes in the market to move our business along,” he says.
Maria Moskver
CEO
Cloudvirga
Irvine, Calif.
Her approach to mortgage tech is what separates Maria Moskver from other industry leaders.
“Most mortgage technology has been created to simply fulfill a task or requirement, rather than create a positive overall experience,” she says. “My team and I are endeavoring to create an enhanced user experience across the process: a platform that helps lenders generate more loans, more referrals, and more repeated business.” This aligns with her personal values and her company’s values.
“As a leader, I respect my team’s opinions, differences, and contributions, and encourage them to focus on their strengths and passions, which in turn drives Cloudvirga’s success,” she says.
Ethics are equally important to Moskver, 48, from integrity to work ethic. “Both are critical to the foundations of success in business and relationships,” she says. “For example, having pride in the work that is produced, or integrity in working with clients.”
Moskver sees the mortgage industry as ever-evolving in terms of innovation, regulation, and technology. “There will always be room for growth and improvement,” she says.
For her part toward that growth, Moskver and her team are helping the industry improve back-office function models, enhance the customer and loan officer experience, and deliver a true digital mortgage origination process. “On the consumer side, our technology is helping to build trust with consumers,” she says. “Loans are being closed faster by automating borrower and back-office tasks resulting in faster speed to close, with fewer touches and lower costs.”
Rachel Drage, account supervisor at Seroka, says of Moskver, “Throughout her career, Maria has consistently demonstrated that she is a strategic thinker with a proven record of driving new business, innovation, and ensuring business objectives are being met. She has amassed significant legal expertise in acquisitions, divestitures, joint ventures, data privacy and security matters, consumer lending, and employment law.”
“By delivering information accurately and compliantly, automating tasks with a truly intelligent workflow, and completing complex calculations, lenders can realize the benefits of tomorrow’s digital mortgage today,” she says. “We will continue to focus on the overall enhanced experience, as opposed to just task completion, and in doing so, we will transform current capabilities, enable the customization of products, and help create new products and lines of business for the mortgage industry.”
Murdock Richard
CEO
Premier Nationwide Lending
Plano, Texas
Murdock Richard sums up his legendary value in two parts. First is consistency and an appreciation of the meaningful role a lender has in the mortgage process.
“Most consumers are fearful of making a poor decision related to questions that they feel they are ill-equipped to make. They must be able to trust their lender to provide them with information to make an informed decision,” he says. “To be able to adequately present and explain options in ways that make it easy to understand requires knowledge and a commitment to remain aware of the constant changes imposed upon us.”
Second, he says, understanding the rationale behind guidelines is imperative because documentation seldom matches the requirements or because of the unique challenges among customers. “An appreciation of these two important aspects of my role is my legendary value and is the very reason how I separated myself from the masses,” Richard, 67, says.
Richard believes that guidelines are not rules, and presenting a credible narrative that addresses challenges is the way to overcome loan issues. “Don’t let an underwriter create the narrative at the end of the loan process,” he says. “Rather, take responsibility to do it yourself upfront.”
Richard strongly advocates for continual learning beyond what is typically taught. “I make a great effort to explain the concepts behind everything that we do that is required of us, so we understand the issues and can explain options to our customers with a deeper perspective than customers expected,” he says. “I stress that whatever happens in a transaction is our responsibility, and blaming others involved is never an option.”
Anisa Johnson, Premier’s vice president of marketing and communications, says of Richard: “He has had a unique career. It has been divided almost equally between the real estate and mortgage industry. But in each, he has reached the top. He attributes his success to two fundamental principles: learning the business in great depth and marketing.”
Richard is concerned that the mortgage industry is moving away from the customer, that the business is less personal, ignoring the fact that the only transaction a customer cares about is theirs.
”With so much information that is readily available, it has resulted in adding to the confusion and anxiety about the loan process,” he says. “I endeavor in every opportunity that I confront to stress the importance and the value of the personal touch.”
Jerry Schiano
CEO
Spring EQ
Radnor, Pennsylvania
Jerry Schiano’s vision can be described in one word: Simplify.
From products to guidelines, Schiano sees too much complexity in the market and prefers a streamlined approach to lending that benefits consumers, says Erin McCahill, Spring EQ’s director of customer experience.
“Schiano is a proven maverick and thought leader in the mortgage industry,” McCahill says.
Over his 30-plus-year career, Schiano, 62, has founded and successfully led multiple lending organizations, including Wilmington Finance, New Penn Financial and Spring EQ, a 2016 startup venture focused on reinvigorating the home equity lending market segment in the U.S.
Today, Spring EQ is among the fastest-growing and most innovative home equity lenders, McCahill says.
Schiano is responsible for turning New Penn Financial from a startup into a top-30 mortgage lender with more than 1,800 employees (during the 2008 mortgage meltdown) before selling the business to Newrez.
When it comes to home equity lending in today’s market, Schiano focuses on affordability and accessibility. He founded Spring EQ in 2016 to benefit and strengthen an underserved home equity market as an alternative to cash out refinancing.
Under his leadership, McCahill says, Spring EQ uses an innovative lending platform that provides fast funding, flexible borrowing options, competitive interest rates and an easy application process that gives homeowners easier access to the equity in their homes – all with the consumer in mind.
Traditional loans can be painful, McCahill says, but Spring EQ’s technology and process are designed to make things smoother for today’s homeowners. As a result, Spring EQ loans typically fund faster, with less frustration for all.
In 2020, Schiano led Spring EQ through major changes in the competitive landscape of home equity lending with innovative products and quality loan options with favorable rates and lower payments.
“Jerry Schiano is a true leader in the mortgage industry,” McCahill says. “His instincts, flexibility and unconventional thinking have enabled him to grow and succeed in an ever-changing, yet always challenging industry, from major market disruption to a worldwide pandemic.”
The secret to his success?
Focus on costs, controls and provide customers with great products, McCahill says.
“In fact, his motto is to treat customers fairly and work hard to help them fulfill their dreams,” she says. “As a true advocate for today’s homeowner, he believes that people should buy what they can afford.”
Tom Shaw
Chief Marketing and Technology Officer
LoanStream Mortgage
Irvine, Calif.
Tom Shaw has forged ahead where few have dared to venture, says Elizabeth Florek, LoanStream Mortgage’s director of marketing.
In doing so, she says, Shaw has made his mark within the industry for several decades in using both technology and marketing to maximize efficiency and innovation for lending organizations, brokers, and customers.
His expertise has included building out and implementing technology-based automated marketing tools, wherever he goes, to build flourishing brands and organizations.
Shaw, 52, has been a driving force within the industry for both large and midsize lenders over the last 25-plus years.
“Tom’s approach to implementing technology workhorse tools and successful marketing strategies has empowered lenders, sales leaders, and originators to be successful in blazing new trails for business avenues they may have otherwise not considered and made it faster to do so,” Florek says. “His unique combination of technology and marketing experience and roles have resulted in quicker activation on understanding what the market and customers need and turning that technology (products and services) which can be delivered by a company to fulfill that need.”
Shaw takes a 360-degree approach to studying the mortgage business, from the back-end technology issues lenders face, to the front-end issues that brokers and clients might have. He does a deep dive into understanding how the various support arms of an organization integrate and make it all work - from sales to operations to underwriting.
In the end, it’s given lenders the ability to move quicker as an organization; armed sales organizations with automated tools to help them be successful and given originators a better, faster, smoother experience so they keep coming back, Florek says.
“Tom is knowledgeable in all these facets of a lending organization, and this is what makes him unique,” Florek says. “In addition he’s been a marketing trailblazer, creating successful brands from scratch that included retail, wholesale, correspondent and commercial channels, and made them recognizable names in the industry.
These brands will continue to flourish in the industry after he moves on, Florek says.
“He has the magic sauce for making it happen. Tom leaves a walking trail of technology and successful marketing and branding wherever he goes, and that’s what makes him a legend.”
Ron Vaimberg
President
Ron Vaimberg International
Jefferson Valley, N.Y.
Growing and building for tomorrow is what Ron Vaimberg is doing today.
Those in the mortgage industry who take time to self-reflect while nurturing relationships with partners and clients end up succeeding no matter the market conditions, he says.
“It is easy to get caught up in simply going after low-hanging fruit to generate business,” Vaimberg, 59, says. “But 2022 taught us all a painful lesson about the dangers of this strategy. Many originators and mortgage companies ignored the reality that the gravy train of refinances would someday end. They ended up paying a big price.”
In 1988, a sales manager recommended Vaimberg read about his business for at least 15 minutes every day.
“To this day 35 years later, I am still doing this exercise, and I keep getting better and better at what I do,” he says. “Our industry is constantly undergoing change, and whether you are selling mortgages or helping salespeople grow business, it’s critical to seek out knowledge and wisdom that allows you to grow. Yet in today’s increasingly fast-paced world, few sales professionals take the time for self-learning.”
There will always be a need for mortgage professionals who can solve the challenges facing borrowers and real estate professionals, Vaimberg says. However, the majority of originators and mortgage companies put very few resources into ongoing professional development.
“This has been a habit of the industry since I entered the business in 1984, and I believe it’s why so many originators and lenders struggle when the market shifts,” he says. “My contribution is to continually focus on the professional development of my audience so they are better able to identify these challenges and create opportunities to solve them, regardless of what is happening in the market. I also advise mortgage professionals to embrace and utilize technology as an extension of their personalized service, but never allow technology to replace what they do. ”
Henry Drennan, account supervisor at Strategic Vantage, called Vaimberg’s coaching and training methods practical, inspirational, and grounded in real-world experience.
“He’s empowered thousands of salespeople to transform their floundering businesses into successful careers,” Drennan says.
Vaimberg dedicates much of his energy to helping individuals and companies build their business for today while setting themselves up to succeed through any market environment.
“The only way they can do this is by continuously honing and developing their skills,” he says, “which requires learning and relearning what they need to do through reinforcement and follow-up.”
Michelle White
National Mortgage Expert
The CE Shop
Warren, Maine
Michelle White is not intimidated by the constant ups and downs of the mortgage industry, and integrity will always remain her top priority.
“Before the SAFE Act, the industry had many people who made decisions in their own best interest without regard for who may be negatively impacted,” White says. “Through all of the negativity, my concern always remained first for my customers over all else.”
The mortgage industry, she adds, is like the weather. “Wait a minute and it will change. Rates go up and down. Inventory is abundant or lacking. Loans go in cycles and there is always a new program or a remake of an old program. People will always want to buy houses and the industry will always rebound.”
The 56-year-old industry veteran uses her knowledge, experience and skills to educate fellow MLOs, as a means of keeping an aging industry fresh. She teaches both pre-licensing and continuing education courses.
White started her career in the mortgage industry in 1993 as a loan officer assistant. Later, she earned her Master of Education degree, focusing on adult education and continuing education for professionals. She has worked in nearly every aspect of the loan process, spending significant time as an underwriter.
White went through the housing crash of 2008, both as a mortgage professional and a homeowner. She has seen the best and worst the mortgage industry has to offer. Her first-hand knowledge helps put the current laws and guidelines into perspective for her students, giving them a deeper understanding of the ‘why’ in what they are learning. Her dedication to each student’s success is a key indicator of her passion for education and vast knowledge of the mortgage industry.
White acknowledges that many factors contribute to the challenges surmounting the mortgage industry today, but none have deterred her pledge to make a difference.
“I am working with state housing authorities and investors helping to identify the obstacles to homeownership and finding ways to overcome those obstacles through consumer education, new programs, and finding creative funding sources for grants and down payment assistance programs,” she says.
Remembering The Legend Don Currie
Since his passing in March, HTL president continues to inspire other lenders
Mortgage professionals are feeling the void left by one of the industry’s top leaders, whom they remember as a “beautiful soul” and a “tireless worker.”
HighTechLending (HTL) founder and President Don Currie died suddenly on March 2 at age 60, leaving behind his wife Vena and daughter Grace. He has been posthumously honored as a 2023 Legend in Lending by Mortgage Banker Magazine.
During his 40-year career, Currie founded and led HighTechLending, Inc. in 2007 with current Chief Operations Officer Erika Macias. The company has since grown to become a Top 10 reverse lender with 45 branches nationwide and platforms in retail, wholesale, reverse and servicing.
“Don was not just my business partner; he was like a brother to me,” Macias told Mortgage Banker.
The two met 23 years ago while working for Impac Lending Group.
“I immediately knew Don was a man of his word, which is what stood out to me,” Macias recalled. “My best memory with Don is when we were opening up HTL. We would sit in his cabana for hours, setting our goals and expectations. Always laughing and having fun while taking care of business.”
Among the wisdom Currie imparted on her was how to be “the bigger person” in a disagreement.
“It didn’t have to be a negative disagreement but even when it was, he was always a class act,” Macias said.
Individual Over Company
Vilyam “Will” Toorosian, an HTL branch manager, recalls the friendly, family-oriented relationship he and Currie established early on.
“When a problem was presented to me or my branch, Don was the first one to jump up and help,” Toorosian said. “He never made me feel like the company came before me or my branch; it was always the needs of the individual employee over the company in my experience working with Don.”
Toorosian had been working closely alongside Currie on new, innovative systems to put HTL ahead of its competition right before he passed.
“We met often, had dinner a couple of times, and worked on strategies of making our company a better place and put the “HighTech” in HighTechLending,” Toorosian said. “It was heartbreaking to see him go, but he left our company in good hands with good leaders who I know will continue to see Don’s vision to fruition.”
Currie grew up in California’s San Fernando Valley, going on to earn a bachelor’s degree in business administration, finance and real estate from California State University, Northridge. Then he jumped right into lending, eventually becoming President of the California Association of Mortgage Professionals Orange County (CAMP-OC).
Impac co-founder Bill Ashmore remembers when Currie joined his company, where he worked up until 2006.
“Don left my organization and was one of the first originators that I know who turned from the non agency Alt-A production market to FHA lending and eventually into reverse mortgage lending,” said Ashmore, now CEO of Vista Mortgage.
“Even when he left my organization he always called me Mr. Ashmore,” he added. “Right up until he passed away.”
‘Bag Of Cash’
Eric Morgenson, director-at-large of CAMP-OC and vice president of business development at Angel Oak Mortgage Solutions, knew of Currie before even meeting him.
“We went and had lunch, and Don had this thing where he would always bring a welcoming gift if he were meeting somebody for the first time,” Morgenson said. “He and I hit it off. We had very similar backgrounds.”
Currie was the one who nominated him for the role at CAMP. The two enjoyed playing golf and working trade shows together.
“His favorite thing to attract people to the booth would be to fill up a paper bag of cash,” Morgenson recalled. “And if you dropped off your business card - put it into his little fishbowl - you would be eligible to win said bag of cash. It would always get people riled up around him.”
This playful approach translated well into mortgage lending.
“Don had no problem building people up around him,” Morgenson continued, adding, “the mortgage industry is going to miss a very enthusiastic man who really knows how to leverage niche lending.”
Inspirational Leader
HTL released a statement following Currie’s passing.
“HighTechLending, Inc will continue to stand strong in his vision of success,” staff said. “We wish everyone could be so lucky to work with someone like Don once in their lifetime. We are so grateful for the time we were able to spend with you and believe that the angels are rejoicing because one of their own has rejoined them.”
The National Reverse Mortgage Lenders Association issued the following statement in response to an inquiry from Mortgage Banker:
“The NRMLA was deeply saddened by the death of Don Currie. He was a strong and inspirational thought leader in the reverse mortgage industry for over 15 years. Although he’s no longer with us, we can only hope that the impact he had will continue to inspire future leaders in the years ahead.”
For Macias, Currie’s impact is far-reaching and infinite.
“Our industry and HTL lost a leader, a visionary and a man who treated everyone as if they were his best friend,” she said. “He was always so happy. That great big laugh of his will always live in my memory.”
