Texas Capital Bank
has announced that Gary Ort, president of its Mortgage Finance Division, is retiring at the end of June and will be succeeded by Director of Correspondent Lending Jack Nunnery.
“Gary has been a key architect in the growth and success of Texas Capital Bank,” said Texas Capital Bank President and CEO Keith Cargill. “We owe him a tremendous amount of gratitude. Jack Nunnery has been at Gary’s side the whole way and brings to the role not only a deep knowledge of the business and its past but also a clear vision for its future. And both Gary and Jack understand the important role our clients have played in our success, and how Texas Capital Bank wouldn’t be here without them.”
Under Ort, who served Texas Capital for the past decade, the bank built its Mortgage Warehouse unit into one of the largest providers of mortgage warehouse credit facilities in the country. He also presided over the newly launched Correspondent Lending business and expanded Texas Capital Bank’s credit offering to mortgage lenders to include lines of credit secured by mortgage servicing rights, also one of the nation’s largest businesses of its kind.
“I’ve been privileged to be with an organization like Texas Capital Bank, which deeply values entrepreneurial thinking,” said Ort. “We’ve built a robust mortgage finance business, and I can’t think of a better person to grow it than Jack Nunnery.”
Nunnery has broad experience in the mortgage industry in a variety of roles, including counterparty risk management, mortgage technology, underwriting, post production and secondary marketing. At Texas Capital Bank he oversaw the creation of the Correspondent Lending business, which launched in 2016, helping to introduce cutting edge technology and product innovation to the industry.