Steven B. Nesmith, Esq.
President/Chief Executive Officer position
Currently CEO executive consultant with 20+ years of experience in corporate management, government regulatory banking/financial services housing/mortgage and economic development issues. A former Assistant Secretary at the US Department of Housing and Urban Development and Deputy Assistant Secretary at the U.S. Commerce Department. Also, former Assistant General Counsel managing the Washington, DC office of the largest non-bank mortgage servicing company in the US. Strong leadership skills and proven ability to manage large teams of 400 employees and P&L of 100M. Track record of success executing on corporate vision and growth strategies to fulfill objectives and performance metrics set by the Board of Directors.
Senior Executive Experience
Capital Mortgage and Financial Services LLC February 2016 to present
CEO – Business Consultant on Financial Services, Housing/Mortgage Title Insurance regulatory and Compliance Issues
Provide counsel to CEO’s and senior management on corporate management and company-wide re-organization issues, including optimizing efficiencies across all business operations.
Provide counsel to companies on federal and state regulatory and compliance matters related to the mortgage, housing/real estate and title insurance industry on matters before the U.S Justice Department, Commerce Department, Consumer Financial Protection Bureau, and the U.S. Treasury Department.
Represent Housing Authorities across the country on federal and state regulatory and compliance including matters before the U.S. Department of Housing and Urban Development.
Reed Smith LLP – Washington, D.C. January 2015 – February 2016
Global law firm with 26 international offices and more than $1.1B in annual revenue.
Legal Counsel - U.S. and Global Financial Services Regulatory, Policy
Recruited by executive team to grow nascent Banking, Financial Services, Regulatory, Mortgage, and Housing Practice. Engaged corporate CEOs and agency heads to provide strategic business direction on policy, regulatory compliance, and proposed legislation impacting operations and bottom-line performance.
Member of the Global Financial Services Industry Group and U.S. Financial Services Regulatory Group.
Focused on representing banks, non banks, and mortgage companies by advising on compliance with state and federal regulations, government investigations and Congressional legislative matters.
Counseled business executives in connection with legislative matters, including Dodd Frank implementation, before the U.S. House and Senate Financial Services Committees.
Advised non -profit developers on public/private partnerships to expand home ownership programs with the federal government.
Fidelity National Financial (Ticor Title Subsidiary) Washington, D.C. Office January 2012 – January 2015
Chief Operating Officer (COO) Global Regulatory Counsel
Orchestrated turnaround of new division of Fidelity National, driving revenue and market share growth. Directed D.C. office operations and led nationwide team of 300, including 6 EVPs/VPs. Managed $100M operating budget. Devised sales growth and operations strategies, reporting directly to Board of Directors.
Achieved all Board expectations across several metrics.
Delivered 65% revenue increase in commercial real estate title insurance line.
Grew market share for commercial and residential real estate title insurance by 20%.
Propelled division into leading revenue producer, ranked #3 across all Ticor business units.
Boosted bottom-line performance and operational excellence by integrating 4 business units.
Ocwen Financial Corporation – West Palm Beach, FL March 2009 – January 2012
Provider of residential and commercial mortgage loan servicing and asset management with $18B in revenue.
Senior Vice President, U.S. and International Business Development Assistant General Counsel
Recruited by Board Chairman and reported to General Counsel and President to grow mortgage servicing and default portfolio for Ocwen in the U.S. and AltiSource subsidiary. Managed D.C. office government and industry relations, sales and regulatory affairs.
Managed the Washington, D.C., office issues related to federal and State government relations and regulatory and compliance issues coming before the U.S. Congress House and Senate including federal regulatory agencies.
Strengthened relationships with HUD, FDIC, Fannie Mae, and Freddie Mac as well as global mortgage banks and financial services firms to secure multi-million-dollar bank REO distressed asset contract.
Led government relations efforts that help lead to two of the largest mortgage servicing acquisitions with several Wall Street financial institutions, expanding portfolio value by 18% in first year alone.
Holland & Knight – Washington, D.C. February 2007 – March 2009
Partner Leader of Financial Recovery Group
Doubled practice revenue after assembling and leading Financial Recovery Team comprised of senior lawyers from multiple disciplines to identify and leverage opportunities arising from Treasury’s TARP Program.
Led the firm’s Financial Recovery Team, creating private/government partnerships that leveraged the federal government’s TARP programs.
Provided counsel to international financial institutions on the likely impact of U.S. and European proposed global regulation of the financial markets on clients’ lines of business.
Secured millions of dollars in client economic development funding (U.S. Congress, IMF, World Bank).
Blank Rome – Washington, D.C. Partner January 2005 – February 2007
Brought in to takeover a small group of lawyers focused on housing/mortgage tax credit matters, and was asked to establish Washington, DC presence to focus on larger revenue generating opportunities. Led business development, client relationship management, and international opportunities.
Help practice group generated additional annual revenue with a focus on client interests in targeted opportunities at the US Department of Housing and Urban Development and the US Department of Commerce.
U.S. Department of Housing & Urban Development (HUD) – Washington, D.C. February 2003 – January 2005
Cabinet-level department of the executive branch to execute policies related to housing and development.
Assistant Secretary & Sub-Cabinet Member
Promoted by the White House and confirmed unanimously by the U.S. Senate to improve performance of HUD programs and drive business efficiencies. Unified stakeholders with diverse goals to drive collaboration, resolution, and consensus for housing, mortgage, and economic development programs.
Secured $200M in national funding for low-income residents to purchase real estate.
Led effort to represent HUD before national housing/mortgage and economic development Industry Groups during Katrina Crisis. Interfaced with the White House, Industry, and elected officials.
U.S. Department of Commerce, Economic Development Administration – Washington, D.C. March 2001 – February 2003.agency managing grants and assistance to stimulate growth in economically distressed communities.
Deputy Assistant Secretary for Economic Development and International Trade
Managed the $1.5 billion investment portfolio for Agency’s 6 offices and 175 employees nationwide.
Represented the Agency with the White House Office of Management and Budget. Served as a member of the White House’s inter agency task force for post 9/11 recovery that led to investments of $200 million in community development funds and $1.5 billion in inter agency funds.
Legislative Strategy Group, LLC – Washington, D.C. 1999 – 2001
Senior Counsel Lobbyist
Secured large international economic development contracts for two Western African countries as a result of lobbying efforts before the World Bank, Export Import Bank, and the IMF.
Obtained federal appropriations funding for several cities and states represented.
Philadelphia National Empowerment Zone – Philadelphia, PA 1997 – 1999
Chief Operating Officer (COO) Director of Operations
Directed organizational restructuring for 5-department, 400-person team to improve effectiveness of economic development and job creation.
Education & Credentials
Juris Doctor (JD) in Corporate/Business Law – Georgetown Law School
Bachelor of Arts (BA) in Criminal Justice – American University
Inducted into Washington, D.C.’s Basketball Hall of Fame
Board & Commissions
Board of Trustees – National Housing Policy Council
Past Board of Directors Member – Pennsylvania Business Bank
Past Board of Governors Member – Pennsylvania Bar Association
Former Board Member – U.S.-Mexico Bi-National Board for Cross-Border Economic Development