Steven Ross is a dedicated Mortgage Banking Executive with over 25 years of experience shaping companies' goals rega...
Steven B. Ross
Resume, Page 1
STEVEN B. ROSS Highlands Ranch, CO 80126 (909) 263-8600
[email protected] www.linkedin.com/in/stevenbross2008
MORTGAGE BANKING EXECUTIVE Dedicated Mortgage Banking Executive with over 25 years of experience shaping companies' goals regarding sales strategies, growth, capital needs, and profitability. Extensive experience managing Secondary Marketing groups, Risk Management, and Financial Analysis teams. Strong expertise in pooling loans for sale, negotiating contracts for sales, executing and delivering loans sold and the investor relationships post-closing. Accomplished in managing companies' interest rate risk by hedging with FNMA/GNMA TBA's and sold bulks of loans to Wall Street firms as well as securitizing pools.
AREAS
OF
STRENGTH
Management
Mortgage Loan Operations
Training and Development
Lending
Contract Negotiating
Investor Relationships
Strategic Growth/Profitability
Secondary Marketing
Capital Markets
Risk Management
Process Improvement
Interdisciplinary Teams
KEY SKILLS ASSESSMENT CRITICAL THINKING - Willingly accepts challenges and able to perform at a supine level both as a working manager and as a talent developer. QUALITY ASSURANCE - Quarterbacks internal teams through the open exchange of knowledge and experience leading to optimal efficiency and cost savings.
PROFESSIONAL EXPERIENCE Zions Bancorporation, Greenwood Village, CO 6/2014 - Present Product Implementation Manager Actively manage mortgage product requests for the company's 6 affiliate banks. Collaborate with the Mortgage Lending Center's Underwriting, Post-Closing and Systems Administration departments on the design, development and implementation of new products/investors for the affiliate banks and the company's centralized fulfillment center to ensure that all processes are running efficiently. Accomplishments: Increased volume for sale from a 60%/40% portfolio/investor split to a 40%/60% portfolio/investor split by increasing the number of take-out investors for the 6 affiliate banks. Reduced the number of purchase suspensions for documentation deficiencies and other shipping shortcomings by strategizing with Post-Closing and working closely with investors. Streamlined processes leading to a more efficient trading desk and targeted take-out investors giving the company wider delivery options by creating a core list of investors across all affiliates and identifying and eliminating products offered that did not contribute to the overall success of the company. Titan Capital Solutions, Denver, CO 6/2013-11/2013 Vice President - Chief Risk Officer Managed the day-to-day activities and residential loan credit policy initiatives. This included the review of investor guidelines and recommendations for improving internal guidelines and policies. Evaluated and managed the risks associated with correspondents seeking admission to the correspondent lending program. Accomplishments: Developed policies and procedures resulting in the effective management of all counterparties. Pushed through recommendations leading to improved interoffice guidelines and policies and increased efficiency. Aurora Bank, Littleton, CO 4/2011-4/2013 Assistant Vice President - Pre-Foreclosure Lead Review Supervisor/Counterparty Risk Manager Determined admittance to Correspondent Lending program by analyzing all pertinent information. This included financial strength of the lending institution and loan production quality within required timeframes. Determined financial stability, quality of products, and other issues to mitigate risk in the relationship. Accomplishments: Personally selected to determine the Bank's standing on foreclosure actions during the Bank's orderly wind-down of operations. Minimized potential legal liability by performing quality control reviews of the contractors review to determine if their findings were correct and consistent with Aurora's policies and procedures. Recognized as the subject matter expert on pre-foreclosure reviews and allocated resources, priority of reviews and training to both first and lead reviewers as necessary
Steven B. Ross
Resume, Page 2
Fannie Mae, Dallas, TX 7/2010-3/2011 Business Analyst Established a mortgage servicing rights valuation model that was used to value servicing rights purchased or transferred from other servicers. Accomplishments: Created reporting metrics that allowed new initiatives to be established successfully.
Fremont Investment & Loan, Brea, CA 10/1999-3/2008 Assistant Vice President - Structured Finance Directed the settlement of loan sales associated with whole loans and securitizations. Formulated a risk management reporting system that allowed investors and management to effectively determine areas that needed immediate attention. Determined vintage quality by creating a tracking report for monthly sales, net sales, and repurchases that allowed for risk determination. Negotiated contracts for loan sales, repurchase of loans sold, and pricing/pooling of loans to be sold. Led efforts to negotiate terms for investor reporting on whole loan sales and provided leadership and direction to operational matters within the Loss Mitigation Department on workout strategies and timeline management. Accomplishments: Spearheaded the development and implementation of systems and procedures that established profitability metrics for account executives as well as provided the lending groups with a basis to rate employee performance. Facilitated the development of a repurchase request tracking system, which enabled the capital markets department to quantify the exposure to repurchase requests while serving as the liaison between IT and the Capital Market group. Supervised and coached the team to perform at optimal levels.
Additional Related Experience First Alliance Mortgage Corp. Director of Asset Management Responsibilities included: hedging activities related to the company's lending operations, pricing various products, and developing new lending products; assessing sales related to the core business strategy. Developed pricing models and best execution models related to the securitization process, whole loan sales, and whole loan acquisitions and maintained the valuation of the residual assets and servicing rights retained from securitizations.
Increased loan volume by approx. $5M per month or 17% by creating new loan products for lending.
Enabled the company to supplement loan volumes for securitizations by designing a pricing model that determined overall prices for a pool of loans by incorporated key data points on loan levels.
AMRESCO RESIDENTIAL CAPITAL MARKETS, INC. Director of Finance Responsibilities included: hedging activities related to the subordinate bond portfolio that Capital Markets managed; maintaining the valuation of the residual assets retained from securitizations. Designed, developed, and implemented pricing models and best execution models related to the securitization process or whole loan sales.
Conceptualized, built and implemented a manual valuation data entry process, which streamlined financial processes. Screened loans purchased through a data omissions model which aided in identifying data that needed immediate action and reducing issues with securitization of newly acquired mortgage loans.
FIDELITY FEDERAL BANK Sr. Internal Asset Review Analyst Responsibilities included: Risk Rating and Ad-Hoc Appraisals for the bank's C&I portfolio; re-underwriting assets to determine the credit worthiness of borrower and valuation of property; Assigning risk ratings to assets reviewed for reserve necessity; providing forecasts of borrower behavior; calculating necessary reserves on the entire portfolio of C&I loans.
E D U C AT I ON & T R A I N I N G Bachelor of Arts in Accounting, California State University Fullerton, Fullerton, CA
