Executive Resume
Randell G. Pool
1234 My Way Yourtown, NY 99999
Phone: (999) 999-9999 Email:
Leadership Profile
Retail, Wholesale and Correspondent Mortgage/Home Equity Lending, Direct and Secondary
Markets, Correspondent/Broker Relations, Sales/Marketing Leadership, Operational Management,
Revenue/Profit Generation, P&L Strategies, Non-Conforming, Alt-A and Subprime Loans: HELOCs
Results-driven executive who combines sound financial leadership with marketing savvy to position companies for growth and profitability. Demonstrated record of success in increasing revenue through people, processes and technology. Knowledge of current business/economic drivers. Extensive experience in business expansion through mergers/acquisitions and launching new locations. Proven performance within start-up, turnaround, economic slowdown, and high-growth markets. An exceptional communicator, negotiator and team-builder. Nationally recognized industry leader, speaker, seminar developer/presenter, and published author. Often quoted by industry publications, associations and key business/community leaders.
Documented track record in driving extraordinary volumes as demonstrated in the following graph:
* Represents volume through August. Budgeted volume for the year was $960 million.
Professional Experience
Community Home Funding Group (CHFG)
Sacramento, California
President, Wholesale/Correspondent Lending Division
2001-2002
Directed and was involved in daily operations for the wholesale/correspondent lending division of CHFG, the California sister company of Community Home Mortgage Corporation in Melville, New York. Provided hands-on leadership for all residential mortgage loans, primarily non-conforming loans from brokers. Drove production through sales and marketing; budgeting/P&L control; management of pricing, underwriting, loan processing, loan purchasing, secondary marketing; broker/correspondent approval/monitoring. Provided leadership for salespersons, loan originators, processors, coordinators, underwriters, and support staff. Additionally, managed the sales force in the retail (dealer) unit.
· Successfully grew the division to $4 million-per-month loan production operation nine months from production start up through non-conforming loans, primarily Alt-A and subprime loans originated by brokers.
· Researched and converted from a retail lending loan origination software (LOS) system to an ISP LOS designed to meet the needs of correspondent and wholesale channels.
· Transformed an underperforming 13-person sales force into a cohesive, top-producing team of three.
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The Money Store (TMS)
West Sacramento, California
Vice President/National Sales and Marketing Manager, Correspondent Lending Division
1996-2000
Directed production of non-conforming and subprime home equity loans through sales, marketing and operational leadership. Directly managed two regional managers and up to 26 account executives and field trainers. Developed production forecasts, researched industry trends, identified target correspondents (banks, mortgage bankers, etc.), priced flow and bulk/portfolio loans, maintained P&L accountability, developed/enhanced niche product marketing, developed/negotiated correspondent agreements, created marketing materials/advertising, and managed key national accounts.
· Catapulted correspondent lending volume from $97 million in 1996 to $625 million in 2000, growing the unit to 40 percent of total monthly loan production of TMS, and grew active correspondents from 20 in 1996 to over 570 in 2000.
· Developed financial goals and accountability for the division; profitability methodology for correspondent relationships; monthly and annual volume forecasts and tracking system for division and each correspondent.
· Developed methodology for field trainer position to increase correspondent retention and reduce personnel expense.
Remodelers Acceptance Corporation
Dallas, Texas
Executive Vice President, Production
1994-1995
Directed all phases of non-conforming and subprime home equity loan production, including opening and management of all branches, underwriting, funding/quality control, loan product development, sales, marketing, underwriting, contract development/negotiations, broker/correspondent approval/monitoring, and personnel in each applicable area. Emphasis placed on location and staffing of branches, development and structure of sales force, new loan product development, secondary markets, and building infrastructure for a rapidly growing organization.
· Grew monthly loan volume from $3.2 million to $55 million, exceeding projection plan. Increased broker/correspondent base from zero to over 100.
· Developed initial 125 percent LTV loan program in response to competitor programs on the market.
· Created branch expansion program, opening 14 new branches in the U.S.
U.S. Property and Appraisal Services Company, Inc.
Dallas, Texas
Senior Vice President, Sales and Marketing
1994
Developed and managed large-volume relationships with residential mortgage lenders/servicers, home equity/home improvement lenders, and builders/contractors for this Pittsburgh, PA-based vendor of title, appraisal, mortgage recording, and loan settlement/closing services.
· Developed several large-volume clients within a five-month period: The Associates, The Money Store, First Greensboro Home Equity, EDS, and Remodelers Acceptance Corp.
· Designed a database for coordinating sales/marketing calls for the sales force.
The Associates Financial Services Company, Inc.
Irving, Texas
Vice President
1992-1994
Planned, developed and implemented a nationwide home equity/home improvement initiative for this national consumer finance/home equity lender. Managed key large-volume relationships and trained sales force.
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· Grew monthly loan volume from zero to $55 million, consistently exceeding annual plans.
· Developed broker/correspondent/contractor approval process and tracking system for performance monitoring.
· Transformed a fragmented, regionalized consortium of loan programs into a concise, focused effort to purchase non-conforming home equity and home improvement loans from correspondents, brokers, and contractors.
AMRE, Inc.
Dallas, Texas
National Director of Credit
1989-1992
Managed the credit department for the largest contractor in North America, operating as a Sears licensee, employing 970 salespeople in 63 regional offices. Directed the processing of up to $360 million in annual cash and credit sales.
· Transformed AMRE from a 50/50 cash-credit business to 65 percent credit sales by transitioning from closed-end secured loan transactions to revolving lines of credit. This transformation assisted in increasing annual sales by 25.9 percent over a three-year period.
· Significantly reduced overhead and increased revenue, improved cash flow, and established new processes and procedures. Key contributors in bottom-line profit growth of $2.2 million over a three-year period.
Employment Prior to 1989
Fast-track career growth in the banking/mortgage industry, from entry level to executive at First Union National Bank, and its home equity lending subsidiary, First Union Mortgage Corporation (FUMC), 1972 to 1986. Significant accomplishments included:
· Managed two regions for FUMC. Recruited to turn around an underperforming region. Managed nine lending offices and opened seven new offices in each region. Drove annual loan production from $24 million to $250 million in 18 months in TX, LA, and MS region.
· Personally strategized, identified, planned and staffed 48 loan production offices during an expansion initiative in 18 months. Developed methodology for “systemizing” LPO finish-out.
Education
· Business Administration, University of North Carolina–Charlotte
Awards and Other Contributions
· Award for Outstanding Leadership, 2000 and 2001–Home Improvement Lenders Association.
· Numerous articles published in: Secondary Market Executive, National Mortgage News, Texas Independent Banker, Equity Magazine, Dallas Times-Herald, and HILA Quarterly Publication.
· Former President, Vice President, and Board of Directors member of the Home Improvement Lenders Association; seminar/conference speaker/presenter/major contributor to other professional associations, including. The National Association of Mortgage Brokers, National Association of the Remodeling Industry, and the National Home Equity Mortgage Association.
Presentations Include:
· Underwriting Nuances: High LTV Loans for Information Management Network, presented at both New York and Las Vegas conferences as part of the Emerging and Niche Asset Securitization Conference, 1999.
· Title I and Conventional Look-alikes, Western Secondary Marketing Conference, California Savings and Loan League. San Francisco, CA, July 1997.
· Competing for the Customer—Best Practices from Outside the Banking Industry, given as part of Panel Presentation, ABA/ACB National Consumer Credit Conference in San Francisco, May 1997.
· The New Paradigm: Opportunities in High LTV Lending, America’s Community Bankers Annual Conference in Tucson, AZ, January 1997.
Key Accomplishment Summary
Randell G. Pool
Successful Change to New Workflow and LOS System
Situation:
In April 2001 the IT Manager in the headquarters of Community Home Mortgage Corporation purchased a loan origination software (LOS) system without questioning the users to determine their wants, needs, or requirements. Price and its compatibility with the existing loan servicing system drove the purchase of this particular LOS, as it was purchased from the same software manufacturer. This LOS was not designed for use by mortgage companies in the wholesale and/or correspondent channels of the mortgage industry, but was primarily intended for retail loan origination by credit unions. The system’s poor configuration for wholesale/correspondent business was costing the new division loans, broker relationships, and affecting staff morale. The division was actually processing loans based upon the requirements of the LOS, not by the business requirements of wholesale/correspondent lending.
Action Plan:
· Personally met with management of the software manufacturer in an attempt to pursue modifications to the LOS to make it user-friendly and functional for the division, to no avail.
· Successfully engaged consultant with expertise in both workflow process identification and LOS systems, after nationwide search. Consultant agreed to meet with division staff to determine optimum workflow for the wholesale/correspondent business based upon our philosophy of doing business.
· Documented and produced a flowchart of the workflow process, identified positions needed based upon the workflow; and determined possible loan origination software systems that would support the process.
· Conducted week-long extensive meetings with the staff and consultant relative to current workflow, identified each employee’s duties, and documented each employee’s ideal workflow based upon their positions and duties.
· Collaborated with consultant to address the sales/marketing requirements, compliance with state/federal lending laws, and reporting requirements involved in implementing a new LOS.
· After reaching agreement with all parties on the new workflow, the consultant conducted a nationwide search for Internet-based LOS system that supported the process.
· Identified three LOS systems and held discussions/demonstrations with each ISP. Selected one LOS based upon system support, agreed upon modifications, cost, and length of time needed to convert our operation from the existing LOS to the ISP’s LOS.
Results:
Successfully converted to the selected loan origination software in six weeks with coordinated effort of office staff, headquarters' IT staff, our consultant, and the software provider’s support group, with little or no interruption in business. Morale and loan volume both soared with the implementation of the new workflow and LOS. Successfully transitioned a start-up company into a highly productive operation.
Key Accomplishment Summary
Randell G. Pool
Catapulted a Niche-Product Division to the Top-Producing Unit at TMS
Situation:
The Money Store had a niche product business channel for correspondent lending that was strictly developing business from southern California correspondents. The challenge was to expand the division’s business channel of this niche-product lending unit from strictly southern California correspondents to additional U.S. markets with the objective of reducing the division’s reliance upon one market for its business.
Action Plan:
· Personally developed and negotiated the relationship with a high-volume monthly source of loans in the 150-branch First Union Home Equity Bank (FUHEB), previously First Union Mortgage Corporation. In August 1996 FUHEB employed more underwriters in its centralized underwriting unit in Charlotte, NC, than in the entire TMS correspondent lending division.
· Finalized a “test” period of six months with 10 branches from across the U.S. Collaborated with FUHEB management and developed a timetable to add 20 branches in the seventh month and 40 branches per month each month thereafter. As branches were added, simultaneously hired and trained personnel to handle the increased loan volume.
· Initiated the position of field trainer to support backroom operations of correspondents, thus activating and retaining the majority of correspondents signed by the account executives. Simultaneously strategized, developed and negotiated with a contract underwriter from San Diego, CA, who was familiar with our loan products and operations, to act as field trainer for FUHEB.
· Negotiated with contract underwriter to join the division as field training manager. Implemented a multi-level organizational structure for personnel supervision and reporting. This resulted in a highly productive team that focused 100 percent on training and developing the skills and methods for sales success.
· Develop financial benchmarks and goals (WAC, WAM, WAF, prepay speeds, average loan size) for loan purchases to achieve revenue targets, and pricing methodology for flow, bulk, and portfolio purchases.
· Established annual/monthly account executive and loan correspondent volume production standards, forecasts and results tracking/evaluating systems. Created the methodology and report tracking system to determine profitability of each correspondent relationship and account executive.
· Personally developed and managed key large-volume client relationships that resulted in review of back-office operation in the unit and implementation of additional due diligence/purchasing processes to accommodate clients' business practices.
Results:
The success of the FUHEB relationship impacted the correspondent lending division’s philosophy and business practices, firmly establishing that TMS could purchase loans from large institutions in large quantities more efficiently, rather than relying strictly on smaller, low volume correspondents. This philosophy combined with growing revenue/managing expenses and adhering to predetermined benchmarks transformed the correspondent lending division into TMS' second-highest monthly volume-producing unit, representing 40 percent of total monthly loan volume, and its most profitable. The number of active correspondents grew from 20 to 570 and annual loan volume grew from $97 million in 1996 to $625 million in 2000 (through August), while the division maintained its excellent loan quality, winning many quarterly TMS awards.
Key Accomplishment Summary
Randell G. Pool
Successful Selling: Externally and Internally Negotiated a Record-Breaking Portfolio Purchase
Situation:
The Money Store (TMS) was approached by Norwest/Wells Fargo to purchase its entire Title I loan portfolio by end of first quarter 2000. The challenge was to close this purchase, which would be its largest ever, without disrupting service to existing customers and insuring that all loans purchased met credit quality standards. This meant gaining the buy-in and cooperation of two other departments that had been recently integrated into the correspondent lending division. Initial purchase involved $38 million in FHA Title I loans, but due to delays by Norwest of presenting the portfolio until February 2000, the loan portfolio had declined to $35 million.
Action Plan:
· Collaborated with CFO and CEO to strategize methodology to facilitate purchase of the N/WF-HID portfolio by the end of the first quarter.