Customer Service Sales

Gary M. Braunstein

****.*.**********@*****.***

** ** ****** ****** **** Phone: 916-***-****

Aliso Viejo, CA 92656 Alternate Phone: 949-***-****

ACCOMPLISHED EXECUTIVE IN MORTGAGE BANKING AND CONSUMER LENDING

Operations & Fulfillment Credit & Risk Sales Production & Strategic Development Capital Market

EXECUTIVE PROFILE

ENTREPRENEURIAL MIDSIZE - FORTUNE 500 FINANCIAL AND BANKING ORGANIZATIONS GOVERNMENT AGENCY

Revenue/P & L/Operating Mgmt. & Financial Growth Quality and Risk Controls, Regulatory Relations

Channel Operations, Strategic Sales Production Strategic Planning & Day to Day Leadership

Mortgage Product, Pricing, Policy; GSE’s, FHA/VA, Direct Reports; 3- 8, Indirect; 150: Multi-

Bonds, Portfolio, Secondary/Capital Market products functional teams & synergy among employees

MBA Business Administration • Recipient of Operations & Sales Awards • Recognized Industry Speaker/Seminar

Presenter

HIGHLIGHTS OF RESPONSIBILITIES AND STAFF

Retail, Wholesale, Correspondent, Investor

Operations, Fulfillment, Compliance, Pricing, Service

• Improved pull-through from 45% to 85% and decreased turn-around time process to close

• Loan administration and workouts, secondary/capital market pipeline mgmt. achieving clean audits from

Regulators

• Managed headcount, change mgmt. and best in class service metrics by cross-training

• Centralized and decentralized operations, sales/ops branch network, call center and remote sales. Headcount

150+.

Products and Process Management

• Organization and Division product and pricing management, policy and procedures guidelines developing and

launching of new loan programs; Agency, Secondary, Portfolio, Jumbo, Pledge, Asset Depletion

• Administered division in development and integration of new loan system of loan origination / loan acquisition

platform of Mortgageflex, realEC/LSI, DataTrac/Encompass, bridging to secondary market, finance and

servicing

Sales Production/Strategic Marketing/Channels

• Division managers and staff (loan originations) growth from sales and marketing State and Multi-State

• Doubled loan volume in 1 years increased to $145Mn/mo., $1.5bln/yr. funded run rate

• Data mining targeting consumer retail direct, and wholesale & correspondent strategic / affinity partner

relationships

Financial and Budget:

• Division Business/Action Plans/Presentation to Board. Managed Budgets $3Mn - $10Mn and cost controls,

and P&L’s Planning and Forecast. Achieved Net Revenue Income PV $8Mn+ annually.

EMPLOYMENT AND POSITION HIGHLIGHTS

EVP / MORTGAGE LENDING: Head of Division for Bank

PACIFIC MERCANTILE BANK (NASDAQ: PMBC)

ACTING DIRECTOR MORTGAGE LENDING/HOMEOWNERSHIP: Head of Division for Agency

STATE OF CALIFORNIA HOUSING FINANCE AGENCY (CALHFA), A STATE AGENCY FINANCIAL INSTITUTION

DIRECTOR: STRATEGIC RELATIONS; Head of Western States, VP: SALES/OPS PRODUCTION

ACCREDITED HOME LENDERS (NASDAQ: LEND)

SENIOR MANAGER / DIRECTOR MORTGAGE LENDING: Head of Division Western States

MORGAN STANLEY (NYSE:MS) (MORGAN STANLEY CREDIT CORPORATION HOME LOANS)

Gary Braunstein (Page-4)

SVP / DIRECTOR MORTGAGE LENDING: Head of Division

CAPITAL ALLIANCE (AMEX: CAA)

DIVISION MANAGER REAL ESTATE LENDING: Operations for BofA Housing Services

BANK OF AMERICA (NYSE: BAC) (BOFA HOUSING SERVICES)

PACIFIC MERCANTILE BANK (NASDAQ: PMBC), COSTA MESA, CA 11/2012 – 03/2014 (closed Mortgage

Division)

A $1Bln assets California based Bank with 7 branch offices. Since 2010 the Bank has been under adherence of

Regulatory Order by FHLBSF and DFI. During my tenure Mortgage Division improved its Regulatory audits

significantly. As a separate decision, Bank withdrew from consumer mortgages, only to offer Commercial /

Business products.

EVP / MORTGAGE BANKING DIVISION: OPERATIONS FULFILLMENT SALES PRODUCTION SECONDARY

Head of Division for mortgage banking originally hired to scale business and market share. Initially mission

critical was Regulatory oversight. Approved as appointee by Regulators from FRB and DFI for the EVP position.

Developed architect and build the foundation for retail mortgage lending through branches, call center, and remote

sales. Strategic and day-to-day staff sales force, marketing, loan production, processing, underwriting, docs,

funding, closing, shipping, post-close, risk and internal controls compliance, secondary marketing, investor

relations, vendor management, pricing, product development, and strategic business.

• Operations workflow efficiencies and risk assessment/management with compliance internal quality controls.

Capital market delivery and Agencies as direct seller/servicer to FNMA, FHLMC, GNMA, and secondary

conduits. Loan service portfolio currently $500Mn with below industry delinquency.

• Developed new workflow job function policy and procedures for consistent compliance oversight for clean

audits and customer centric service. Pull-through ratio from locked loans is 85%.

• Loan approval and exception oversight to $3Mn, and member of ALCO, Audit, Credit, Risk & Finance

Committees

• Loan originations production re-build branches and remote sales force, and inside loan officer call center

channel originations approved in 18 States. Sales and Marketing supported by re-building a recognized brand.

Change management from wholesale originations to retail consumer direct focus.

• Loan originations software conversion from DataTrac to Ellie Mae Encompass. Project management to

seamlessly integrate improved customer service with cross-training resulting in quality of loans and turn time.

• Developed strategy and tactical preparation for CFPB and other Regulatory compliance

• Business Plan/Action Plan for Division: Reported to CEO/President and Board. Prepare and present strategic

initiative plan by establishing loan forecast, tactical action plan, and budget. Managed $3Mn - $4Mn budget.

STATE OF CALIFORNIA HOUSING FINANCE AGENCY (CALHFA), SACREMENTO, CA 2008 – 2012 (termed-

out)

A State Government Agency Financial Institution with $10Bln assets, $4Bln servicing providing affordable housing

first mortgage conventional and government loans, and subordinate down payment loans and grant programs.

ACTING DIRECTOR MORTGAGE/HOMEOWNERSHIP: OPERATIONS FULFILLMENT LOAN PRODUCTION

Head of Division acting director and senior management for the strategic and day-to-day staff operations and

sales, business development, loan fulfillment, quality oversight, key contact to Community, GSE’s, HUD, State,

Fed, and Industry. Loan programs as wholesale / correspondent for originations by banks, credit unions,

mortgage bankers, non-profit / local agencies, and retail consumer marketing

• Operations and fulfillment staff processing, credit/underwriting approval/compliance, pipeline mgt.,

funding/purchase, post-close, training and certifications. Risk and quality controls to State, Federal, Local,

Rating Agencies Regulators.

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• Reduced turn-around time cycle origination to purchased loans resulting in conversion ratio from 45%

to 75% achieved by cross-training staff, managing headcount, and workflow metrics.

• Established and upheld compliance policy and procedure guidelines receiving clean Regulators’ audits for

quality of loans, lender branches, and work-out of $162M loan outstanding to communities and non-profit

agencies.

• Administered development of new loan (LOS/LAS) system for Division as Governance sponsor re-engineering

processing, underwriting, fulfillment, purchase, post close and secondary bridging to loan servicing/fiscal for

better tracking and reporting

• Effectively worked servicing converting whole loans to MBS, sale in Secondary in 2009, 2011 for $10Mn/$60Mn

gain

• Loan origination production staff for outreach, sales, and business development exceeded goals

• Increased loan volume by 20% for multi-cultural and CRA borrower demographics, and relations with

Financial Institutions, Banks, Mortgage Bankers, Brokers by 30% in state / out of state. Expanded and

maintained 1000+ origination offices through targeted business development and introducing co-host

presentations building relationships.

• Improved incremental loan volume through division marketing establishing consumer direct lead referrals

program to lender network, and increasing to 550 communities and non-profit agency programs approved

by division for borrowers to combine with CalHFA first mortgage and DPA loans. Implemented Homebuyer

Education Counseling programs.

• Product management and pricing, policies and guidelines for new Conventional, FHA/VA, and Bond first

mortgage programs. Added REO community stabilization loan program of 1000+ properties from lenders and

servicers. Implemented a unique affinity relationship with Fannie Mae for special loan features.

• Business Plan/Action Plan for Division; Reported to CEO/Executive Director and Board. Present strategic

plans and actions. Managed $3Mn - 4Mn budget and annual loan volume $300Mn - $1.7Bln dependent on

bonds and capital market. Income PV $8Mn annual run rate.

ACCREDITED HOME LENDERS (NASDAQ: LEND), IRVINE, CA 2004-2007 (company eventually closed))

A $10Bln assets national mortgage banker in retail, wholesale, correspondent channels with 115 regional

branches.

DIRECTOR: STRATEGIC RELATIONS VP SALES AND OPERATIONS PRODUCTION

Vice President heading division centralized and call centers sales and production staff with 115 nationwide

branches

• Operations production business unit faster workflow credit/file approvals with fast track documentation and

pipeline workflow for seamless integration between departments. Introduced CRM contact management

salesforce.com for on track follow up customer service.

• Managed centralized channel to include 2 Regional Directors, 5 Dept. Managers, 80+ Indirect sales and

processing credit staff, and indirect supporting 115 branch offices, 600 staff.

• Loan originations business unit staff increased incremental loan volume by adding re-cycled borrower leads

program

• Developed and administered new recapture / retention channel; result $0-$25Mn+/mo. in less than 1 yr.

Director Western States Strategic Relations for business growth through Referrals, Correspondent, and Private

Label

• Eloan, WFS / Wachovia, American General Finance, C-21 offices leads to internal centers and branches

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Gary Braunstein (Page-4)

PACIFIC MERCANTILE BANK (NASDAQ: PMBC), COSTA MESA, CA 2003-2004

A $1Bln assets California based Bank with 7 branch offices and remote field sales

EVP / MORTGAGE LENDING DIVISION: OPERATIONS FULFILLMENT SALES PRODUCTION

See 11/16/2012 above hired again by Bank to head residential mortgage lending.

• Business Plan/Action Plan for Division: Forecast and presented strategic plans and actions. Primarily Retail

Lending and introduced Wholesale channel. Prepared and managed budget, and P&L. Achieved 14.5%

revenue increase in 2003, net income $1.5Mn, and increased “net interest margin” / income by 30%.

MORGAN STANLEY CREDIT CORPORATION HOME LOANS (NYSE: MS), RANCHO, CA, NYC, NY 2000-2003

National Mortgage Lending channel for Morgan Stanley Private Wealth Financial offices, and indirect marketing

SENIOR MANAGER / DIRECTOR MORTGAGE LENDING: OPERATIONS FULFILLMENT SALES PRODUCTION

Head of Western States Division and Operations Center for retail mortgage origination and operations including

loan officers, processing, credit analysis/file underwriting approvals, risk and quality controls, compliance, docs,

close, post-close, and fulfillment pipeline workflow customer service providing First Mortgage home loans and

HELOC’s. Product management and pricing for conforming, jumbo, super-jumbo, portfolio, and securities pledged

lending.

• Operations Center awarded #1 for efficiencies, pass-through conversion ratios, and best quality customer

service

• Included in performance reviews for sales/ops staff a team metric to conversion ratios. Added “5 points of

contact” during process and segmented complex tax return reviews, both improved customer service and

quality control. Direct reports: 7-10 Dept. Managers, Indirect reports: center ops & sales staff, and 250

offices of 3000 financial advisors.

• Establish policy and procedures for workflow efficiencies, risk/compliance, cost control, vendor mgmt.,

MI’s. Converted originations systems to RealEC/LPS platform for vendor connectivity, and improved loan

status controls and reporting

• Operations Center awarded #1 for loan originations and volume/closings; doubled loan volume to

$145+Mn/mo., $1.5Bln/yr. in 2002. Established strong relationships with Financial Advisors and provided

concierge service to high net worth clients.

• Loan approval authority $1Mn and pricing and oversight exception $3Mn+. Higher approvals with second

sign-off

• Business Plan/Action Plan for Division: Reported to EVP/Head of Division. Forecast and presented strategic

plans and actions. Prepared and managed division budget, FTE workflow & headcount. Additionally, led

division initiatives for cross-training to cross-sell services offered by Morgan Stanley for incremental company

revenue

ADDITIONAL SENIOR MANAGEMENT POSITIONS 1988–1999

SVP / Director of Sales and Marketing – Wholesale Lending: CAPITAL ALLIANCE; IRVINE, CA, SAN FRANCISCO,

CA

Division Manager Real Estate Lending Operations: BANK OF AMERICA, BOFA HOUSING SERVICES; SAN DIEGO,

CA

Founder/Managing Director: MORTGAGE PLUS+, INC., SAN DIEGO, CA – CLOSED MORTGAGE BANKING/BROKERAGE

EDUCATION AND ADDITIONAL ACTIVITIES

• MBA (Business Admin): National University, CA, 1984 BS Degree (Teaching): State University New York, NY

1976

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• College Instructor at National University: developed and instructed Mortgage Banking and Lending curriculum

• Consultant: Outreach and Business Development strategies, Credit Analysis, Operations Underwriting and

Compliance, and Secondary / Capital Markets methodologies for Mortgage Bankers/Brokers and seamless

integration with loan servicing

• Consumer and Legislative policy advocate:

Product knowledge and relations with HUD, FHLMC, FNMA, GNMA, FHA, VA, FHLB’s (Federal Home Loan

Banks), National State Housing Finance Agencies, Community Investment Localities and Non-Profits,

Banks / Financial Institutions, Brokers, Builders, Developers, Realtors, Mortgage Insurers. Industry trade

organizations in responsible lending: American Banker, MBA/CMBA, Secondary/Capital Market, State,

Federal, GSE’s, HUD, and Rating Agencies.

• Industry Speaker: Dept. of Real Estate, Homebuilder Association, Underwriters & Appraisers Association,

Federal Home Loan Bank of San Francisco (FHLBSF), etc.

References Provided Upon Request Relocation Acceptable and Flexible

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