Former Wells Fargo exec has more than 30 years experience in the industry.
Agile, a Philadelphia-based fintech bringing mortgage lenders and broker dealers together on a single electronic platform, announced Wednesday that it has appointed Greg Vacura as president.
Greg Vacura
Vacura will work to fulfill Agile’s mission to create a better mortgage-backed securities (MBS) market through increasing liquidity and automation in TBAs, MBS pools, and AOTs, the company said.
Agile said it replaces legacy phone and email processes with an electronic platform designed to help the mortgage-asset class operate more efficiently and market participants thrive.
Vacura is a 30-year mortgage industry veteran who previously served as senior vice president of Correspondent Pricing at Wells Fargo Funding. In that role he managed all aspects of correspondent mortgage pricing activity, including the mandatory trade desk, best efforts lock desk, revenue analytics, and correspondent pricing vendor relationships.
His development of the bid-tape assignment-of-trade (AOT) loan sale delivery method in 2018 is credited as one of the most significant innovations in the mortgage secondary market in the last decade. The method combined the cash and execution benefits of trade assignment with the granularity and flexibility of bid-tape pricing, and saw rapid proliferation among both mortgage sellers and mortgage buyers offering their own bid-tape AOT programs, Agile said.
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“The mortgage industry has a long way to go on the path towards improving liquidity and execution through adoption of marketplace solutions,” Vacura said. “I’m excited to leverage my past experience pushing the industry forward in my new role, particularly during this time of challenging market conditions with the opportunity to help so many industry participants.”
“I am confident that Greg’s open, positive, and transparent management style coupled with his subject matter expertise in the whole loan and mortgage securities aspects of our industry will allow him to ably lead Agile,” said Agile CEO Curtis Richins. “We are proud of our role in educating lenders about the benefits of bid tape AOT alongside Greg since 2018, and can’t wait to see how he continues to innovate in his new position at Agile.”
Agile recently facilitated execution of the mortgage industry’s first ever fully automated AOT and has plans to further improve the utilization and convenience of AOTs under Vacura’s Leadership, it said.
Agile is an MBS financial technology company, offering a digital request-for-quote platform that replaces manual, phone-based processes to create a new electronic marketplace. It is available on a stand-alone basis or as complementary software to other electronic marketplaces or hedge advisory services, facilitating a seamless trading experience with existing processes.
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