Bay Equity Home Loans has announced the addition of Spencer Richardson as its director of northwest production. Richardson has focused his career in the Pacific Northwest and is now leveraging that experience to expand Bay Equity’s presence in the market, a major initiative for the company. In his position Richardson is responsible for opening and overseeing the firm’s new office in Tacoma, Wash. and for driving its business development efforts throughout the Pacific Northwest.
“The Pacific Northwest is somewhat unique in that to make inroads in the region you need to have a strong presence on the ground; you can’t do it remotely,” said Casey McGovern, managing director of Bay Equity. “Spencer gives us that. He knows the area intimately and has built two extremely successful mortgage banks there. Washington and Oregon are critical to our growth, and under Spencer’s direction we expect to grow our wholesale loan volume, open new retail branches and increase overall production.”
Richardson brings more than 16 years of experience within the residential wholesale and retail mortgage banking business. As the founder of two mortgage banking companies, his management expertise includes secondary marketing, strategic planning, operations, underwriting and sales.