Expert Witness No. 1353
PROFESSIONAL EXPERIENCEPrivate Firm, CA
March 2009 - Present
Assisting mortgage companies and banks with expert witness services and other financial consulting, including aiding mortgage companies in obtaining warehouse financing. Also performing due diligence on warehouse programs for potential investors, onsite audits and outsourced credit work for warehouse lenders, and re-engineering warehouse platforms for efficiency, ease of use, and improved fraud prevention and detection.JPMorgan Chase Bank, CA
March 2008 - March 2009Relationship Manager, Chase Warehouse Lending
Chase bought Washington Mutual’s warehouse lending platform and hired a select group from WaMu to start a new warehouse program in March 2008. Duties remained the same, except that territory covered half of the US: the Midwest, Northwest and California, as only 2 of 18 regional managers were hired by Chase.
Washington Mutual (Formerly Bank United), Tustin, CA January 1998 - March 2008First Vice President, Mortgage Banking Finance/California Regional Manager
Developing new warehouse lending relationships in California for division with $18 billion in warehouse commitments. Identifying prospects, performing due diligence, analyzing financial stability and creditworthiness of potential and existing clients, preparing thorough credit analyses for presentation to Credit Committee and Board of Directors. Booked and managed over $5 billion in new business. Assisted in development of New Business Model, Communications Task Force, preparing pricing models and designing joint product offerings with Washington Mutual correspondent lending. Represented the Bank as a frequent speaker at MBA and CMBA conferences. Elected to President’s Club every year for top performance.IndyMac, Pasadena, CA
March 1997 - January 1998Conduit Relationship Manager
Provided warehouse lines of credit to and acquired mortgages from mortgage bankers across the US with net worth over $1,000,000. Created credit packages for approval. Brought in over thirty warehouse applications through articles in Mortgage Originator Magazine. Booked 28 new LOCs totaling $140MM in eight months. Perrin & Associates
, Tustin, CA
1992 - 1997President
Providing consulting primarily to the mortgage banking industry in the areas of:
- Chief Financial Officer Services: Strategic planning, development of new business lines, cash management, compensation & contract review, recruiting staff, and facilitating leadership development, including conducting leadership training seminars.
- Warehouse Lending: Assessing feasibility of and designing and installing systems, procedures, credit policies and legal documents to start up warehouse lending operations for large mortgage companies.
- Expert Witness: Performing expert witness services for large and complex cases, involving Big 5 accounting firms, national banks and large mortgage bankers, through deposition and trial testimony for jury and bench trials. Issues included fraud, industry practices, reasonableness of credit process, damages, and repurchases. Trained by top jury consultants on best witness strategies.
- REIT Public Offerings: Wrote IPO presentations, arranged and designed presentations to over 30 Wall Street and regional bankers, created business models, coordinated all-hands meetings, facilitated due diligence, and prepared SEC S-11 registration statements. Worked on 4 mortgage REIT company public offerings.
: KPMG Peat Marwick, Grant Thornton, American Residential Mortgage, ComUnity Lending, Imperial Bank, First Franklin Financial, American Cities Mortgage, Guild Mortgage, BrooksAmerica.Imperial Credit Industries (Impac Mtg. Holdings), Newport Beach, CA
1989 - 1992Senior Vice President/Chief Financial Officer/Treasurer
Responsible for accounting, loan servicing, investor reporting, warehouse lending, negotiating and creating contracts, planning, and strategy for 9-branch publicly-held national mortgage banking company.
Source Finance, Irvine, CA
- Took the company public in 1992, selling 27% of company for $16MM. Drafted key portions of S-1 and wrote company's first 10Q. Acted as primary liaison with market analysts, investors, and media.
- Created systems and procedures and developed staff to support growth from $5 million per month in originations to more than $300 million and from $40 million in servicing to over $2.5 billion.
- Recruited, trained and supervised staff of 45 in accounting, servicing and warehouse departments.
- Evaluated, negotiated, and managed actual transfer of over $2 billion in servicing purchases and sales.
- Introduced warehouse lending operation offering lines to small mortgage companies, including designing all procedures, loan agreements and approval guidelines; supervised warehouse staff; and approved participants.
- Negotiated the acquisition at net asset value and assimilation of four large production branches.
Top producer in Orange County office of national executive search firm. Set nationwide record for first-month sales. Attended intensive six-week sales training course. Specialized in recruitment and placement of mortgage banking professionals.Plaza Savings And Loan Association, Santa Ana, CA
1986 - 1988Controller
Developed staff, systems, procedures, and funding sources to take Association from $4 million per month in originations to over $150 million per month, reporting directly to president. (Plaza originated over $8 billion in 1993 and was acquired in 1996 by Fleet Funding for almost $100 million).
Deloitte Touche & Company, Newport Beach, CA
- Established all financing, including warehouse lending relationships of over $50 million.
- Identified and analyzed all packages for loan servicing sales, coordinating sales process.
- Designed and implemented 3-year monthly budget, financial statements, board report and automated regulatory reports utilizing LOTUS and Excel.
- Coordinated conversion of servicing function to DataLink system.
1981 - 1985
Specialized in the audits of major savings and loan associations and mortgage bankers. Experienced in SEC and FHLB reporting, as well as public offerings. Performed extensive consulting engagements, including business valuations, for financial institutions. Active in practice development.Part-Time Accounting Positions
1977 - 1981
Halbert Hargrove & Company, a Long Beach investment banking firm (1978-1981), a local public accountant, and Pacific Finance to finance 100% of college and living expenses.EDUCATIONBachelor of Science - Accounting and Finance
, California State University, Long Beach, Magna cum laude. First business major elected to membership in Phi Beta Kappa. GPA - 3.9.CERTIFICATIONSCPA, State of California
. Passed all parts of examination in first sitting in 1981.Master CMB (Certified Mortgage Banker)
, October 2004. Qualified as expert through experience, courses, references, and written and oral exams covering both Commercial and Residential Mortgage Banking to receive the mortgage industry’s highest honor.