E-mail - twakefield@twcllc.com
Office - 262.375.8000
Fax - 262.375.2835
Cell - 414.313.2803

Key Achievements

• Regenerated The Wakefield Company, LLC to provide strategic advisory services to executive management of various lending, finance, technology, and vendor management firms in the residential mortgage industry.
• Advisory services have focused on:
• Formation of strategic alliances to capitalize on anticipated regulatory reforms and changing market dynamics;
• Development of new or expanded revenue sources;
• Operational restructuring to reduce and variabilize production costs;
• Organizational structures, planning tools, and executive tactics to accomplish strategic plan initiatives on time and under budget; and
• Identification and implementation of technology solutions that further clients’ strategic objectives.

1997 - 2002 Customers Forever, LLC

Key Achievements

• Developed a business plan for the creation of the nation’s first end-to-end, online mortgage loan fulfillment application dedicated to increasing customer retention rates and substantially lowering servicing costs for large residential mortgage servicers. Obtained initial funding commitment of $21 million to implement this business plan.
• Appointed President and Chief Executive Officer in June of 1998.
• Co-authored the functional description, production pathway, and mortgage automation pathway which are the critical components of the Cypher Processing Method (Cypher). Cypher integrates process design and analysis, process technology, and process performance into a single discipline. Combined with an Internet-focused customer interface and electronic connectivity with all raw material providers, Cypher enabled Customers Forever to manufacture first and second mortgage assets at a substantial cost advantage versus traditional methods. Two patents are pending on Cypher and other proprietary methods which Customers Forever deployed in its online fulfillment environment.
• Executed contracts with four top-30 servicers to deploy the Customers Forever online retention application.
• Achieved a customer retention rate of 52.6% for a top-10 servicer whose customers visited the Customers Forever online retention site.
• Achieved customer satisfaction levels of 98% (72% complete satisfaction, 26% satisfaction) from customers who obtained a loan using the Customers Forever online retention application. 97% of customers indicated that they would use the application for their next mortgage.
• Based on the first 2,500 units of production, Customers Forever achieved a 100% production quality rating.
• Recommended and participated in a partial equity acquisition of GHR Systems, Inc. (GHR). GHR’s point of sale products currently support over 5,000 loan originators. GHR’s entelligence Network supports millions of loan transactions annually.

1994 - 1996 The Wakefield Company

Key Achievements

• Advised Residential Services Corporation of America (RSCA) in developing strategies for non-traditional, customer-direct mortgage origination initiatives which focused on using the Internet as a loan origination medium to increase retention of Prudential Home Mortgage Company’s (PHMC’s) existing customers. This initiative was tabled due to the divestiture of RSCA by Prudential Insurance Company of America (Prudential).
• Advised General Electric Capital Mortgage on the merits of implementing an aggressive customer-retention strategy.
• Advised MGIC and Ranieri & Company on the acquisition of Lender’s Service, Inc. (LSI) and formulated a business plan to enable the electronic delivery of all raw materials necessary to create first and second mortgage loans. These initiatives were tabled when MGIC and Ranieri & Company were outbid for LSI by Merrill Lynch Credit Corporation.

1993 - Present John Taylor Golf, Inc.

Key Achievements

• In 1993, formed John Taylor Golf, Inc. (JTGI) to build and operate a high-end, daily fee golf facility. This facility, named The Bog (www.golfthebog.com) is an Arnold Palmer designed golf course located in Saukville, Wisconsin.
• The Bog periodically ranks in the Top 10 golf courses in Wisconsin and is the highest-rated daily fee golf course in the Milwaukee metropolitan area.
• In 2004, The Bog was only the second public facility to host the Wisconsin State Amateur Championship.
• In 2005 and 2006, The Bog will host the State Women’s and Men’s Open Championships. The Bog is the only course in Wisconsin golf history to host these prestigious events in consecutive years.
• Currently President, CEO, and majority shareholder of JTGI.

1982 - 1993 Salomon Brothers, Inc., Prudential Home Mortgage Company, Residential Services Corporation of America

Key Achievements

• As Vice President of Mortgage Finance, assisted in thrift balance sheet restructuring and asset-backed sales exceeding $500 million.
• In 1983, promoted to Manager of the Relocation Finance Department. Designed and launched the first centralized, nationwide residential mortgage origination capability to provide mortgage financing to over two million AT&T employees and retires.
• This capability prompted Prudential Insurance Company of America to reenter the residential mortgage business in partnership with Salomon Brothers. This venture was named Prudential Home Mortgage Company (PHMC).
• From 1984 through 1987, focused on expanding PHMC’s corporate and affinity lending business to IBM, GE, Kodak, the regional Bell holding companies, the American Medical Association, the American Dental Association, and others, resulting in annual origination volume of over $5 billion.
• Assisted in the sale of Salomon’s interest in the PHMC venture to Prudential and, upon conclusion, became a managing Director of PHMC.
• In 1988, recommended and completed the acquisition of LSI as the initial step in a strategic plan to gain greater control of critical raw materials necessary to create first and second mortgages and to achieve greater leverage of information to generate additional revenue.
• This information strategy led to the creation of PruAdvance and Prudential Home Insurance Services (PHIS). PruAdvance was the first nationwide, simultaneous equity line of credit business in the U.S. PHIS was the first nationwide, simultaneous issuer of homeowners’ insurance. Both PruAdvance and PHIS achieved eligible customer penetration rates of over 50% within their first year of operation.
• Shortly after the acquisition of LSI, advised Prudential to form Residential Services Corporation of America (RSCA) to signify the expansion of activities beyond PHMC’s lending operations. RSCA became a holding company subsidiary of Prudential and owned PHMC, LSI, and Private Label Mortgage Services Corporation (PLMSC). In addition to managing PruAdvance and PHIS, assumed the position of President of PLMSC, which provided end-to-end, private label fulfillment services for large mortgage lenders.
• In its first two years of operation, PLMSC manufactured $800 million of loans for four clients. Based on total production of 7,000 units, PLMSC achieved a 99.929% production quality rating.
• Prudential’s decision to divest portions of RSCA prompted resignation from RSCA at the end of 1993. At the time of resignation, held the following titles: Managing Director and Executive Vice President – RSCA; Executive Vice President – PHMC; President – PLMSC; Vice President – Prudential Property and Casualty Company; and, member of the Board of Directors – LSI. Prudential eventually divested its interests in RSCA and its subsidiaries for in excess of $1.3 billion.

1981 - 1982 The Wakefield Company, Inc. and the Wiscor Agency, Inc.

Key Achievements

• Retained by Fannie Mae in early 1981 to assist in the design and launch of two strategic initiatives. The first being Fannie Mae’s mortgage-backed securities (MBS) business. Co-authored the initial MBS Seller/Servicer Guide, assisted in the actuarial analysis to establish the initial MBS guarantee fee, and coordinated the initial issuance of MBS which involved the simultaneous purchase of mortgages in a nationwide auction and issuance of $250 million of MBS.
• The second Fannie Mae initiative created the Negotiated Transactions Desk. This capability generated vital cash flow for Fannie Mae by selling bulk forward commitments to lenders on a nationwide basis.
• Founded the Wiscor Agency, Inc. which operated as an exclusive private mortgage insurance agency for Ticor Mortgage Insurance Company until Ticor exited the business in the mid-1980s.
• Represented the Wisconsin Realtors Association, Wisconsin Mortgage Bankers Association, and Wisconsin Homebuilders Association in negotiations with the State of Wisconsin Investment Board to provide a bulk forward commitment to stimulate housing activity throughout the state.

1972 - 1980 Republic Savings and Loan Association of Wisconsin

Key Achievements

• Completed Management Trainee Program which provided core experience in all areas of retail banking.
• Within three years, became the top producing mortgage loan officer.
• In 1977, appointed Senior Vice President and Chief Lending Officer.
• Created a business plan which resulted in Republic becoming the first S&L in Wisconsin to utilize the secondary market to stimulate a steady expansion of its lending operations.
• In 1979, added the responsibilities of Director, Vice President, and Chief Operating Officer of Republic Development, Inc., a wholly-owned land development subsidiary; and Director, Vice President, and Chief Operating Officer of Republic Investment, Inc., a wholly-owned property management subsidiary.

Education

1968-1972 Utah State University

Key Achievements

• Graduated Cum Laude with a Bachelor of Science Degree – Finance major and Economics minor.
• Member Phi Kappa Phi National Honor Society.
• Attended Utah State on a basketball scholarship and played in two NCAA Division 1 basketball tournaments.
• Outstanding Freshman Student Athlete.

Disclosures

• In August of 2001, the majority shareholders of Customers Forever attempted to significantly dilute my equity interest in the company. The challenge of this dilution effort created a contentious environment which resulted in the non-renewal of my employment agreement. My tenure as President and CEO of Customers Forever ended on May 15, 2002.
• I have been the responsible party for mortgage banking licenses issued by dozens of states. As a result, firms I have managed have been subject to numerous regulatory audits. Neither I nor any of the firms that I have managed have been subject to any form of disciplinary action imposed by a regulatory agency.