Carmine Cacciavillani | Founder and President | Blue Sage Solutions
Carmine Cacciavillani, founder and president of Blue Sage Solutions, is a man with double vision. It has nothing to do with his eyes, though. Twice, he has had successful visions for how to improve the mortgage industry.
“Very early in my career, I envisioned creating end-to-end mortgage technology that was accessible to everyone, including borrowers. What set us apart was fulfilling that vision over two decades ago with the creation of Impact, the industry’s first end-to-end loan origination platform. By the time we sold Impact to IBM, it was being used by five of the top 10 U.S. lenders, so that definitely put us on the map,” Cacciavillani recalls.
Then, his vision focused on the cloud. “In 2018, my team and I did it again by developing the Blue Sage Digital Lending Platform, a complete, end-to-end origination technology built entirely with cloud technology. At the time, the vast majority of lenders were still using legacy, premise-based systems built decades ago – in fact, many lenders still do. What made our platform unique was that it could be used by any lender — direct, wholesale, retail, or correspondent — and it managed and automated everything from loan pricing, underwriting, and decision-making from the point-of-sale stage all the way to the closing and funding of loans. It has consumer-facing applications and sales tools that enable loan officers to increase capture rates and generate more loans. Everything is browser-based, too,” he says.
Part of his success is also a clear vision for how to run Blue Sage Solutions. “Fostering a culture of excellence and continuous improvement involves leading by example, setting clear expectations, and encouraging innovation. As a leader, part of my job is to inspire my team to enhance their skills, which we support through extensive training opportunities and a collaborative work environment.
“I also make sure to recognize and reward excellence, emphasizing a mindset of continuous improvement and soliciting feedback for process optimization. Finally, my goal is to maintain an environment of positivity and encouragement while staying updated on industry trends so we can adapt our practices accordingly,” Cacciavillani explains.
“I believe there is always an opportunity to innovate, and I look for people with the same mindset. This collective drive for improvement has yielded significant results for our clients, with underwriters doubling their productivity and loan production efficiency skyrocketing for retail, wholesale, and correspondent lenders,” he adds.
Bill Dallas | Chairman | Dallas Capital
Building, creating and operating successful mortgage banking, banks and fintech companies for almost four decades sets Bill Dallas apart from the rest. “ I was able to differentiate my companies by hiring, building, and retaining very talented leaders and, with these leaders, competing in a very competitive industry. As their leader, I walk the walk and talk the talk and my teams trusted me … and I trusted them,” says Dallas.
The chairman of Dallas Capital knows a culture of excellence and continuous improvement is only possible if you value and love people and your team or organization trusts you. “I have always lived by building a strong P&L … not profit and loss, but people and leadership,” Dallas explains.
That’s not to say he hasn’t authored successful P&L sheets along the way. “At First Franklin, we invented the 100% purchase loan and created an 80/20 structure, first and second mortgage loan. We first partnered with Freddie Mac and then sold and securitized these loans with Wall Street firms. Our product, Direct Access, set us apart from our peers and enabled us to deliver loans to agencies and non-agency investors. At our zenith, we were funding $30 billion of this product,” Dallas recalls.
“At Skyline Home Loans we created the intelligent mortgage platform. This point of sale platform helped us transform our retail business. Eventually, we raised over $100 million to create Cloudvirga,” he adds.
Dallas has his eyes on the future. “After over 40 years of operating my mortgage businesses, Dallas Capital Consulting is focused on helping my clients perfect their business models and grow their businesses. I am also working with several investors to bring HEI (home equity instruments) to the mortgage industry. Equity Sharing is new and will provide my clients with a no-payment, cash-out option for their clients. Another exciting project is my Home Equity Advisor Agreement for loan officers. LOs talk about creating customers for life but do little to perfect that relationship. I have created an agreement and process that can transform the way LO’s do their business. Exciting,” he exclaims.
In addition, he is working on a philanthropic project called Impact Lending. “I want to help mortgage companies provide a lasting impact on the communities and clients they serve by giving back 10% of their profits,” Dallas says.
Mat Ishbia | President and CEO | United Wholesale Mortgage
Mat Ishbia, the president and CEO of United Wholesale Mortgage, says elite client service, speed, and technology set him apart from his peers.
According to Ishbia, client experience is everything. He adds, “You could have the lowest rates in the country or the best loan products available, but if you don’t provide an amazing experience, you won’t win long term. What people remember most in any transaction is their experience and how they’re treated. Our broker clients have no obligation to bring us tomorrow’s loan, so it’s important that each one that does is handled with the utmost care and service.”
Another critical component of our success is speed, says Ishbia. “Speed solves everything. Lots of people measure 12 times and cut once, but we measure once and cut once. Mistakes happen all the time, but if you can fix mistakes fast, you’ll be able to succeed,” he explains.
Technology also has to be a top concern. “Developing and investing in technology is a must. Most other lenders partner with vendors who build technology to offer solutions for many different companies. Our technology is built entirely in-house, allowing us to fully customize our tools to meet our clients’ exact needs. We can focus on the specific needs of our business and ensure we place ourselves in the best position to succeed,” says Ishbia.
Also crucial to Ishbia is a company culture centered around excellence and continuous improvement. “Leaders set the example,” he says. “If they’re not in the weeds of their business and walking the walk, others won’t follow suit. Part of this means leaders need to be accessible, present, and interested in the day-to-day responsibilities of team members. I take part in working sessions when technology is being built or products are launching. I know about the campaigns coming out of marketing and how many files our underwriters review per day. Most importantly, I know who’s involved in these initiatives.”
Goal setting is also important. “From a continuous improvement perspective, one practice we heavily rely on at UWM is goal setting,” Ishbia says. “Another way we focus on continuous improvement is through a program called Brilliant Ideas. This program helps us find new efficiencies in our business or make things easier for our team members and clients.”
Steve Jacobson | CEO | Fairway Independent Mortgage Corp.
Humility is a core value for Steve Jacobson, CEO of Fairway Independent Mortgage Corporation. “In our business, we are fortunate enough to help many people achieve perhaps the biggest dream of their lives. The best way to deliver that service, whether during boom times or a down market, is with a humble servant’s heart. It’s that simple,” he says.
With humility, Jacobson also points to Fairway’s recognition for the service it provides. “We were humbled to be named #1 for customer satisfaction among mortgage origination companies in the J.D. Power 203 U.S. Mortgage Origination Satisfaction Study. We believe customer satisfaction is a natural by-product of a humble, helpful, speedy approach to our clients.”
In 2024, Fairway will maintain that focus while expanding it. Jacobson explains, “Our motto for 2024 at Fairway is ‘Mastering the Mindshift,’ which embodies our dedication to embracing change and pushing boundaries. The past two years have been difficult for everyone, but we know if we are open to changing how we think, there are still plenty of opportunities for success.”
Jacobson freely points to the work of others to demonstrate his legacy of success. At Fairway, they tap into a core value of fostering growth and knowledge. “We provide many opportunities for our teammates in all areas to find training, coaching, and useful information. Our Ignite coaching organization provides mentoring from more experienced teammates within Fairway. We offer deeply discounted training sessions for originators and corporate teammates from XINNIX to arm our people with the knowledge and techniques necessary to succeed in this market.
“We provide free webinars offering tips and techniques from some of our top producers, and our nationwide ‘Elevate Event’ provides a comprehensive platform for learning, networking, and professional development, ensuring our team and industry professionals lead the way in innovation amidst today’s competitive market,” Jacobson says.
Another of the Core Values at Fairway is “Committed to Serve. “We try to embody that mindset in everything we do. Through two of our non-profits, Fairway Cares and American Warrior Initiative, we offer assistance to families struggling with loss and stress, and we provide service dogs and other assistance to those in need from military backgrounds. Our greatest legacy would be to increase the amount of volunteer community service throughout the industry.
Bill Lowman | Chairman | American Pacific Mortgage
Transparency, authenticity, and approachability are what define a legendary mortgage professional, says Bill Lowman, the chairman of American Pacific Mortgage.
“Throughout my years in the industry and various leadership roles, I’ve always prioritized transparent communication. Whether it’s good or bad news, your loan officers, branch managers, and team members should hear it from their leadership first. This fosters an environment of trust and sets a tone for clear and direct communication at all levels within the organization.”
Being a legend doesn’t mean you have to live up to others’ expectations. “Authenticity and how you show up as a leader are also important and have been something I’ve valued over the past few years while developing my own personal brand. If you know me, you know I have a love for Air Jordans and loud socks. Once I embraced that and started dressing and showing up how I felt comfortable at company events and meetings, it created an opportunity for me to connect better with our branch managers, loan officers, operations, and home office team members because I was more approachable.”
Lowman practices what he preaches when it comes to being open to all employees. “Executives have to be approachable to build a strong company culture, which is something we have successfully done at APM. I will give out my personal cell phone to anyone who wants it as a gesture that my door is always open and that if you have a problem, you can come to me.”
Lowman wants to see his APM family prosper. Beginning in March 2021, APM began converting to an Employee Stock Ownership Plan (ESOP). “This was an unprecedented move at a time when many mortgage companies and lenders were going the merger and acquisition route. We decided to go a different direction, and it’s proven to be the right choice for American Pacific Mortgage,” says Lowman.
Today, APM is 49% employee-owned through our ESOP. All full-time employees participate in this ownership plan, which has been beneficial in recruiting and retaining employees, increasing productivity and morale, providing business continuity and an opportunity for “homegrown” succession, and providing employees with a novel opportunity to build wealth. “There are only a handful of ESOPs in the mortgage business, and we are proud to be the largest,” Lowman says.
Philip Mancuso | President and Partner | Equity Prime Mortgage
Philip Mancuso is not just a mortgage vet, leader, and brilliant capital market mind, he is a market maker known for his crystal ball. The calls and decisions he made in the years leading up to the two most significant economic events of our generation, 2008 and 2020, saw the companies he was leading survive and thrive.
Decisions to avoid the risky lending that led to the financial crisis, along with predicting the 2008 crash on national television in 2005, helped his organization become a leader in the TPO space. In 2018, Mancuso once again predicted a mortgage liquidity crisis. By selling servicing at the peak of rates in November 2018 and innovating hedging strategies in early 2020, he was able to avoid the catastrophic wave of margin calling that was pushing most other lenders to the brink of illiquidity.
In the spring of 2020, EPM became nearly a single source of liquidity for the borrowers who needed it the most, helping volume grow 500% while most lenders were still figuring out how to survive before getting bailed out. A handful of lenders made it through these times because of the unlimited support that EPM provided, more specifically in the government lending space.
Over the past three decades, Mancuso has made legendary calls that have changed not only the organizations in which he was and is a leader but also the mortgage industry as a whole.
EPM has a myriad of projects that they are constantly working on to innovate and bring more resources to the broker channel. Some of those projects include CORE, BLVR, and Empower Brokers. CORE is getting better every day with easy-to-use elements, pricing, and most importantly soon-to-come Broker Self-Disclose. BLVR is changing the game every day providing brokerage homes for LO’s along with the proper training needed to get their borrowers in the best homes for the best price. Empower Brokers is an initiative Mancuso and company are excited about. It provides marketing to its clients and partners as well as real-life events to film their own content and take joy in sporting events, concerts, and activities alike with the team at EPM constantly working together to sharpen everyone’s axe. Mancuso is integral in all of these initiatives.
Mancuso will be written about in all the history books to come in the mortgage industry.
Jane Mason | CEO | Clarifire
A passion for their work, resilience, and rolling with the punches are all elements that make one a legend in lending, says Jane Mason, the CEO of Clarifire.
“Personally, I’m motivated each day because I love the work I do. In our industry, in particular, there’s never a dull moment. Between compliance changes, innovations in workflow automation, and shifts in the economy, mortgage banking is in constant flux. My role is to evolve with these changes and focus on serving the daily needs of mortgage servicers. In any business, there are always going to be hurdles and setbacks. It takes strength and determination to bounce back, find new ways to move forward, and turn those setbacks into opportunities for success,” says Mason.
She also adds that honesty is really the most important quality, because it’s the foundation of building trust with others. Mason explains, “In fact, early on, it was how I was able to get two of the industry’s largest players, Bank of America and Fannie Mae, to believe that Clarifire fulfilled a need for mortgage servicing. I never overpromised anything — I was simply honest about what we could and could not do. But I remained true to my word and my team’s capabilities. They understood what we had built and our potential, and we delivered on their expectations. To this day, I remain true to my word because it’s how I built trust with all of my clients.”
Mason has built a successful career by seeing trends. Prior to the 2008 housing crisis, mortgage origination received all the attention and mortgage servicing was sort of the red headed stepchild, she says, adding, “But when the chips were down, servicers had to step up. I started Clarifire during the housing crisis, and at that time, mortgage servicing desperately needed to be digitized. Servicers were grappling with massive numbers of foreclosures and needed to process loss mitigation requests as quickly as possible. Clarifire fit the bill because we brought digital processes and automation to help servicing operations move faster.”
“The importance of efficient servicing continues to grow. Today, originations are slowing due to higher mortgage rates and rising home prices, but mortgage servicing remains a profit center and a source of borrower retention.”
A.W. Pickel | President | Blok Home Loans
The president of Blok Home Loans, A.W. Pickel, has a simple philosophy for success. Make the customer part of the transaction. “My strategy has always been to provide enough coaching and mentoring to ensure that every loan officer on our team understands how to work with borrowers in a way that demonstrates our commitment to them. Then, I work with them until they can follow through on that promise,” Pickel says.
He adds, “Yes, the mortgage broker works as an extension of the wholesale lender that provides the loan product that meets the borrower’s needs, but unless those needs come first are you really providing a service worthy of winning repeat and referral business?
The originator’s reputation in the community is so important. Ignoring it is a mistake young brokers make that ends up pushing them out of the business.”
Pickel demonstrates humility when discussing this accolade. “Being called a legend is an honor. No one who truly deserves the title would ever claim it for themselves. I’m honored to receive it, but am I a legend? I’m not sure about that. What I am is experienced. I’ve been in this business longer than many who are in this business today have been alive. I worked a long time to be able to say that. I think that’s the first requirement for anyone who could carry this title without embarrassment,” he says.
One thing his longevity provides is openness. “The more people who have had the opportunity to see you in action, the easier it will be to attract the kind of people who already want the culture of excellent and continuous improvement you’re building. And it’s always building. Some people think continuous improvement is an initiative they turn on once a year to find some incremental increases in efficiency or some other metric that, in and of itself, means nothing to the people we serve,” says Pickel.
It’s what sets independent mortgage brokers apart. “If your focus is your borrower, you measure borrower satisfaction and treat customers like family, you can make continuous improvement a core value, and everyone will want to get better with every interaction. It’s why the mortgage broker will always be a critical part of the home finance process,” he says.
Tammy Richards | CEO, LendArch | COO, Kind Lending
Tammy Richards, the CEO of LendArch, says her firm fosters a culture of excellence and continued improvement through an uncommon tactic: an open door at the CEO’s office. It’s helped make her a legend of lending.
“Always have an open-door policy,” she says. “No question or suggestion is turned away. Be willing to be open to new ideas and embrace technology. Continue to reinvent yourself and put more tools in your tool belt. Constantly mentor and assist others. Share your knowledge so the team continues to get stronger. Reward and recognize great achievements. Share errors and use them as teaching tools for the team. Promote from within. Give your team a clear path to achieve their goals.”
Those beliefs define Richard’s view of leaving a legacy. “It’s someone who leaves the industry better than they found it,” she explains. “A legend is someone who shares their knowledge and makes the path easier for the next generation. Being a servant leader is the best way to work with a team. A legend is someone who has superpowers, mortgage superpowers.”
Richards uses her mortgage superpowers to understand how things get done. “Always know how to do the tactical work your team is doing. This helps with goals, process improvement, and credibility. Become an expert in as many areas as you can. It is hard to be a leader as a generalist.”
It’s in her genes. “I have always loved innovation. I come from an inventive family. My grandfather built the first flight simulator. My father created a seaweed farm and worked it with a submarine that he built in our yard. We have the technology to automate the mortgage industry. My team has built a digital solution to lower costs, make mortgages more transparent and accessible, with no human error. We are very excited about sharing this with the industry.”
Richards adds, “My favorite project that I am working on is automating the mortgage fulfillment process. It is so exciting to see modern technology improve every facet of the process and dramatically reduce cost. We also have in our lab an automated condo tool, compliance tool, and several conversational tech tools. The opportunities are endless, and the industry is wide open for positive change.”
Terry Schmidt | CEO | Guild Mortgage
Terry Schmidt has seen success at Guild since first joining the company 39 years ago as a member of its audit department. She was president from August 2020 to June 2023 before becoming CEO of Guild Mortgage Co. and director, Guild Holdings Co.
In a May 2023 interview with National Mortgage Professional Magazine (Mortgage Banker’s sister publication), Schmidt said, “We’re really focused [over] the last … 15-20 years on just being a retail franchise operator. So we’ve stayed in having a local presence in branches and offices all over the United States. … There’s still so much opportunity in local markets out there, and we do really well in smaller communities … where we get really involved in giving back. We just feel like there’s a lot more opportunity with great small companies that could be available to us.”
She continued, “And when they come to Guild, it’s a win-win for both organizations. We add a lot more value related to the value and the size, and they can still continue to operate their business and grow in our platform.”
Guild is set up to grow, Schmidt said, because it has the capital to make acquisitions. As of Dec. 31, 2022, the company had $162.2 million in cash and cash equivalents, and $78.9 billion in unpaid principal balance (UPB) for its servicing portfolio.
“Now is a good time to be an investor, to invest in your future, and that’s what we’re doing,” she said. “A lot of companies aren’t in that situation and don’t have the ability to do that. … We’ve been pretty disciplined about that over the years, so that when we’re in times like this, we’ve got capital available to be able to take advantage of the dislocation in the market.”
Guild’s future will be built on acquisitions. In 2023, Schmidt told a sales rally that the company plans to continue to double down on acquisitions in the market. “I said, ‘There’s going to be winners and losers, and we plan to win.’”
Schmidt is currently a member of the California Mortgage Bankers Association, a member of the board of directors of the Guild Giving Foundation, a non-profit organization, and a member of the Mortgage Bankers Association. She is a certified mortgage banker.
Max Slyusarchuk | CEO | A&D Mortgage
Max Slyusarchuk, the CEO of A&D Mortgage LLC, has a simple philosophy that outlines what it takes to be a legend of lending.
“In the mortgage world, a real leader stands out by being completely honest, always looking for new ways to help clients, and making sure every client is taken care of,” he says. “I work hard to live up to these ideals every day. I make sure that everything I do and say is clear and honest. This helps clients trust me and feel comfortable asking questions.”
Slyusarchuk is always seeking new solutions for essential issues. “I’m always on the lookout for new tools and methods to make getting a mortgage easier for everyone. Whether someone is buying their first home or investing in property, I encourage our teams to find solutions that fit their unique situation,” he says.
“But what really matters to me is treating our partners’ clients like they’re friends or family. I help them understand how mortgages work and what their choices are. This way, they can make smart decisions that are good for their future. In my job, I combine honesty, new ideas, and care for clients to make sure they’re happy and secure,” Slyusarchuk says.
He further explains, “Looking ahead, I want to leave a lasting mark in the mortgage industry that reflects a strong commitment to making home buying easier and more accessible for everyone. My goal is to help people achieve their dream of owning a home, especially those who might have thought it was impossible for them.
“I plan to continue working hard to support mortgage brokers because they are key in helping us reach borrowers. By providing them with the best tools, resources, and support, we can make sure they’re able to offer the best service to their clients. This includes creating more online tools that are easy to use, offering training to help them understand all the options available, and finding new ways to make loans more affordable and accessible.
“I believe that by focusing on education and support, we can make a big difference in people’s lives. I want to inspire the next generation of professionals in the mortgage industry to keep making positive changes and to always think about how they can help others.”
Aaron VanTrojen | CEO | Geneva Financial
A truly legendary mortgage professional is distinguished by an unwavering and sincere commitment to consumer and employee well-being. They prioritize acting in the best interests of both, even when faced with tough decisions. This entails providing education, guidance, and professionalism to ensure informed decision-making. Additionally, they uphold moral and legal standards in all aspects of their work.
“In my daily endeavors, I strive to embody these qualities by prioritizing the needs of consumers and employees, making ethical decisions, and leading by example in all interactions,” says Aaron VanTrojen, CEO, Geneva Financial.
“I firmly believe in fostering a culture of excellence and continuous improvement by adhering to our core philosophy of ‘Be A Good Human.’ This philosophy emphasizes leading by example and surrounding oneself with individuals who share our values,” he says.
In addition, he continues, “By promoting integrity, compassion, and professionalism, we inspire our team members to strive for excellence in their roles. Through ongoing training, feedback mechanisms, and a supportive environment, we cultivate a culture where continuous improvement is not only encouraged but celebrated. I am dedicated to maintaining an accessible presence for all my employees. Embracing an open-door policy is a cornerstone of my leadership approach — a practice not commonly observed among CEOs in the mortgage industry.”
Ethical values drive VanTrojen’s plans for the future. “Currently, I am actively advocating for positive change and innovation within the mortgage industry. Through initiatives such as ethical lending practices, customer-centric approaches, and industry-wide collaboration, we strive to set new standards for excellence. By championing transparency, integrity, and accountability, we aim to revolutionize the mortgage landscape and ensure that consumers and industry professionals alike benefit from our efforts,” he says.
VanTrojen hopes Geneva Financial’s values can spread. “My vision for the mortgage industry is one where ethical practice, consumer advocacy, and employee empowerment are the norm rather than the exception. By prioritizing the well-being of our employees and clients, fostering a culture of excellence, and driving positive change through advocacy and action, I am committed to making a lasting impact on the lives of others and ensuring a brighter future for the mortgage industry,” he proclaims.
Joe Welu | Founder and CEO | Total Expert
Joe Welu, founder + CEO of Total Expert, is only in his late forties, but he’s well deserving of the accolade of “Legend in Lending.” Being a visionary and working tirelessly to develop innovative solutions that move the industry forward is what makes him legendary. Since he founded Total Expert from the basement of a real estate office in 2012, Welu had one goal in mind — to power customer journeys through an innovative SaaS solution that helps lenders focus their resources and attention where it matters most.
Never wavering, Welu assembled programmers who could bring his vision to life and developed the Total Expert platform — the first customer experience platform purpose-built for modern, regulated financial institutions. The Total Expert platform was groundbreaking for the mortgage industry at the time and today powers customer journeys for more than 200 financial institutions, including nine of the top 10 lenders and two of the top five banks nationally.
Even amid the challenging lending environment over the last several years, Welu was focused on bringing a new level of AI-powered insights that anticipate borrower needs and intent. He achieved this by introducing Total Expert’s Customer Intelligence platform. The platform includes real-time equity and credit improvement information on borrowers, which lenders use to spark higher-quality conversations and deepen relationships centered on helping people make smart decisions.
“Total Expert’s Customer Intelligence platform gives predictive intent insights on specific services and products a customer may want by identifying key life events such as graduating from college, getting married, buying a home, starting a family, career changes, retirement and downsizing, and many more. Placing all of this information at lenders’ fingertips delivers the genuinely helpful, personalized financial guidance that people crave more than ever,” Welu says.
Total Expert has grown to nearly 300 employees today, and Welu has fostered a culture that is “people-first” and values collaboration and innovation. The company leads with empathy internally and externally, supporting continuous learning and working to help one another reach their full potential.
“The Total Expert culture consistently introduces and contributes to new ideas, products, and processes. Challenging the status quo is the norm — encouraging continuous improvement and embracing change to meet the needs of employees and commitments every day. Greatness is the standard at Total Expert, not the exception,” Welu explains.
