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Stearns Lending LLC has announced the appointment of Thomas W. Neary to the position of chief investment officer, with senior executive level responsibilities for the company’s capital markets, secondary marketing, portfolio investment and valuation, MSR optimization and product strategies and liquidity management.
“We are very excited that Tom has agreed to join our executive management team and step into this critical leadership role. With nearly 30 years of senior executive level experience in capital markets, mortgage banking and the real estate industry, Tom will be invaluable to Stearns,” said Brian Hale, CEO of Stearns Lending. “We currently have outstanding teams and processes in place. With Tom onboard, we’re able to further enhance our effectiveness and build out the strategies, protocols and platform required to achieve our ambitious goals as a mortgage industry leader.”
Prior to joining Stearns, Neary was president and CEO of Homeowners Mortgage Enterprises, a wholly-owned subsidiary of Coastal States Bank. He was also principal of Toll Canyon Advisors LLC, a consulting firm advising hedge funds, mortgage technology companies and mortgage-related start-ups. Neary served as a member of both the Fannie Mae and Freddie Mac National Advisory Boards, and has been a speaker at events, including the Mortgage Bankers Association’s annual conferences and the American Securitization Forum conferences. He is a former member of the Capital Markets Committee of the Mortgage Bankers Association.
“I’m proud to be a member of the senior leadership team at Stearns, and am eager to play my part in helping this remarkable company achieve further growth.” said Neary. “Our Executive Vice President of Capital Markets Mary Malloy and Executive Vice President of Secondary Marketing Laurie Mandir have built an outstanding team and platform, and I am eager to help advance both. Our team will be implementing methods to further optimize strategies related to areas that include hedging, trading, best-execution selling and mortgage servicing rights valuations.”
Earlier in his career, Neary was executive vice president, senior managing director of RESCAP (GMAC Mortgage, now Ally Bank), responsible for correspondent and warehouse lending and capital markets. He also served as CEO of its International Business Group, serving the UK, Spain, Netherlands and Australia markets. Neary also held the position of executive vice president of Mortgage Capital Markets at Wells Fargo & Company. He served as senior vice president, Secondary Marketing for NationsBank, and Senior Vice President, Secondary Marketing at Banc Boston Mortgage. Neary received his Bachelor of Business Administration from Southern Methodist University.