In a financial services consulting capacity, Jeff has worked with hundreds of mortgage companies, banks, thrifts, and finance companies, in providing corporate finance and valuation assistance. He has assisted in over 55 mergers and acquisitions in various capacities, assisted in the formation of a de novo internet bank, developed management reporting systems, provided sell-side advisory, and completed various entity valuations for the sale of company, tax and regulatory implications, and accounting issues.
Jeff’s industry experience includes P&L responsibility at a large national residential mortgage lender as well as an original co-founder of two middle market mortgage lenders in which he assisted in building profitable companies with a national footprint in both the prime and subprime sectors. He managed all facets of the companies including production, strategy, servicing, acquisitions, underwriting, loan file review (quality control), financial, technology, compliance, processing, closing, shipping, and warehouse facility relationships. He also completed the acquisition and integration of multiple companies.
Jeff’s professional experience includes:
- Managed and performed multiple engagements related to the valuation of financial instruments, equity interests, tangible assets, and intangible assets (including core deposit, fixed maturity, loans/leases, mortgage servicing rights, customer relationships, trade names, and developed technology) primarily related to mortgage banking and commercial banking and thrift industries.
- Performed and managed multiple valuations in connection with mergers and acquisitions, divestitures, tax and financial reporting purposes (FASB ASC 805, FASB ASC 350, and FASB ASC 825) for various regional and money center financial institutions.
- Performed due diligence assistance to a publicly traded REIT’s acquisition of a vertically integrated mortgage platform with established origination and servicing capabilities. Assisted the REIT with comprehensive due diligence assistance for both the servicing and origination platforms. Also provided the REIT with FASB ASC 805 assistance in valuing the GNMA servicer/issuer license, tradenames, and state licenses.
- Assisted various financial institutions with commercial and residential loan file reviews as well as the valuation of unique mortgage loans and pools for possible disposition.
- Assisted in the development of Ankura’s proprietary ASC 310-30 model and has advised multiple financial institutions acquisition date loan valuations as well as the ongoing quarterly FASB ASC 310-30 valuations post acquisition.
- Provided various acquirers/sellers of mortgage related institutions with acquisition/sale services such as: search, deal structure, valuation, negotiation, contract review, due diligence, implementation, strategy plans, tax and regulatory advisory, and accounting issues.
- Assisted in the development of an appraisal management system, quality management system, and package and funding administration system for a large publicly held sub-prime mortgage lender. Activities included project management, technical requirement definition, business requirements definition, management report definition, and implementing the systems company wide.
- Completed various mortgage entity valuations as well as servicing portfolio valuations for the sale of company, tax and regulatory implications, and hedging analysis.
- Assisted middle market mortgage banker with raising approximately $50 million in equity through private placement.
- Advised and acted as broker on numerous mortgage servicing sale transactions for middle market financial institutions. Portfolio sizes range from $33 million to $12 billion.
- Assisted in devising a leveraged-buyout strategy for a top 10 mortgage bank with $290 million in equity and $40 billion in mortgage servicing.
- Represented a large pacific northwest mortgage lender in the sale of their company to a select target list of financial institutions across the country. Activities included valuation analysis, offering document development, target list analysis, and acting as intermediary between the client and the potential investment community.
- Assisted large mortgage lender with development of management reporting structure, report definition, key performance indicator definition and criteria, and reporting hierarchy for an enterprise-wide, cross functional management tool utilizing multiple data sources. Management reporting deliverables resulted in opportunity for improvement in assisting its managers in monitoring their performance and improving their contribution to the overall profitability of the company as well as positioning the entire company to operate in an information-oriented mode.