Loren Morris
Chief Legal Officer at Fay Financial- Claim this Profile
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Bio
Doug Friedrich
Loren, as in house counsel, and I worked very closely on a group of troubled commercial loans in the Household Commercial Financial Services (HCFS) portfolio. Loren provided important legal and strategic support for workout activities including bankruptcies, foreclosures, acquisition of controlling interests, turn around and sales of acquired businesses. As General Counsel to HCFS when I was President, Loren contributed significantly to all aspects of HCFS including commercial real estate, owned companies, and commercial aircraft leasing. Loren could always be counted on to provide professional, thoughtful advice and guidance. When I assumed responsibility for Household Mortgage Services (HMS) as President, Loren became General Counsel. Loren consistently demonstrated that he had many operational and decision making skills in addition to his considerable legal skills and he took on increasing responsibilities. I promoted him to Managing Director with full P&L responsibility for the warehouse lending group as well as operational responsibilities for important other functions within Mortgage Services including underwriting, compliance, fraud control and resolution, and liaison with other important groups. He was a key member of the HSBC/HMS senior management team on whom I could always rely. Loren was always a loyal, dedicated, hard working, motivated, trusted executive with outstanding people skills. It was a pleasure to work with him. Loren would make a valuable addition to any managaement team.
Jeff Jaffee
Loren is a thought leader in the mortgage industry. He led Saxon's successful implementation of the Home Affordable Modification Program (HAMP) as well as our relationships with FNMA and Treasury. He has a wealth of experience in the mortgage industry and serves as a source of institutional knowledge for the firm.
Doug Friedrich
Loren, as in house counsel, and I worked very closely on a group of troubled commercial loans in the Household Commercial Financial Services (HCFS) portfolio. Loren provided important legal and strategic support for workout activities including bankruptcies, foreclosures, acquisition of controlling interests, turn around and sales of acquired businesses. As General Counsel to HCFS when I was President, Loren contributed significantly to all aspects of HCFS including commercial real estate, owned companies, and commercial aircraft leasing. Loren could always be counted on to provide professional, thoughtful advice and guidance. When I assumed responsibility for Household Mortgage Services (HMS) as President, Loren became General Counsel. Loren consistently demonstrated that he had many operational and decision making skills in addition to his considerable legal skills and he took on increasing responsibilities. I promoted him to Managing Director with full P&L responsibility for the warehouse lending group as well as operational responsibilities for important other functions within Mortgage Services including underwriting, compliance, fraud control and resolution, and liaison with other important groups. He was a key member of the HSBC/HMS senior management team on whom I could always rely. Loren was always a loyal, dedicated, hard working, motivated, trusted executive with outstanding people skills. It was a pleasure to work with him. Loren would make a valuable addition to any managaement team.
Jeff Jaffee
Loren is a thought leader in the mortgage industry. He led Saxon's successful implementation of the Home Affordable Modification Program (HAMP) as well as our relationships with FNMA and Treasury. He has a wealth of experience in the mortgage industry and serves as a source of institutional knowledge for the firm.
Doug Friedrich
Loren, as in house counsel, and I worked very closely on a group of troubled commercial loans in the Household Commercial Financial Services (HCFS) portfolio. Loren provided important legal and strategic support for workout activities including bankruptcies, foreclosures, acquisition of controlling interests, turn around and sales of acquired businesses. As General Counsel to HCFS when I was President, Loren contributed significantly to all aspects of HCFS including commercial real estate, owned companies, and commercial aircraft leasing. Loren could always be counted on to provide professional, thoughtful advice and guidance. When I assumed responsibility for Household Mortgage Services (HMS) as President, Loren became General Counsel. Loren consistently demonstrated that he had many operational and decision making skills in addition to his considerable legal skills and he took on increasing responsibilities. I promoted him to Managing Director with full P&L responsibility for the warehouse lending group as well as operational responsibilities for important other functions within Mortgage Services including underwriting, compliance, fraud control and resolution, and liaison with other important groups. He was a key member of the HSBC/HMS senior management team on whom I could always rely. Loren was always a loyal, dedicated, hard working, motivated, trusted executive with outstanding people skills. It was a pleasure to work with him. Loren would make a valuable addition to any managaement team.
Jeff Jaffee
Loren is a thought leader in the mortgage industry. He led Saxon's successful implementation of the Home Affordable Modification Program (HAMP) as well as our relationships with FNMA and Treasury. He has a wealth of experience in the mortgage industry and serves as a source of institutional knowledge for the firm.
Doug Friedrich
Loren, as in house counsel, and I worked very closely on a group of troubled commercial loans in the Household Commercial Financial Services (HCFS) portfolio. Loren provided important legal and strategic support for workout activities including bankruptcies, foreclosures, acquisition of controlling interests, turn around and sales of acquired businesses. As General Counsel to HCFS when I was President, Loren contributed significantly to all aspects of HCFS including commercial real estate, owned companies, and commercial aircraft leasing. Loren could always be counted on to provide professional, thoughtful advice and guidance. When I assumed responsibility for Household Mortgage Services (HMS) as President, Loren became General Counsel. Loren consistently demonstrated that he had many operational and decision making skills in addition to his considerable legal skills and he took on increasing responsibilities. I promoted him to Managing Director with full P&L responsibility for the warehouse lending group as well as operational responsibilities for important other functions within Mortgage Services including underwriting, compliance, fraud control and resolution, and liaison with other important groups. He was a key member of the HSBC/HMS senior management team on whom I could always rely. Loren was always a loyal, dedicated, hard working, motivated, trusted executive with outstanding people skills. It was a pleasure to work with him. Loren would make a valuable addition to any managaement team.
Jeff Jaffee
Loren is a thought leader in the mortgage industry. He led Saxon's successful implementation of the Home Affordable Modification Program (HAMP) as well as our relationships with FNMA and Treasury. He has a wealth of experience in the mortgage industry and serves as a source of institutional knowledge for the firm.
Experience
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Fay Financial
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Financial Services
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1 - 100 Employee
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Chief Legal Officer
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Apr 2013 - Present
Loren is responsible for the legal affairs of Fay Financial, LLC, a national mortgage and real estate services company offering mortgage servicing, property management and renovations, business purpose lending, home financing, consumer insurance, real estate brokerage services, title and escrow services, and more to homeowners, investors, and clients. At Fay, Loren supports the company and its increasing number of business units in all aspects of legal and regulatory affairs and transaction management. Loren also sits on the Compliance Committee of the Fay Board of Directors. Show less
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Allsec Financial Services
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Financial Services
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1 - 100 Employee
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SVP, General Counsel & Chief Compliance Officer
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Mar 2012 - Apr 2013
Retreat Capital Management, Inc. is a full service mortgage business process outsourcing company providing strategic consulting and component mortgage servicing, headquartered in Irvine, CA with offices in Irving TX. Retreat Capital is an end-to-end provider of loss mitigation and portfolio management services for mortgage lenders, servicers, asset managers and investors. Established by industry professionals with over 25 years in the mortgage and real estate industries, Retreat Capital provides a single-source solution for reducing costs and mitigating loss at every stage of the mortgage process, from predictive modeling to processing through REO management. Retreat Capital is a subsidiary of Allsec Technologies, a leading Business Process Outsourcing service provider headquartered in Chennai, India whose investors include The Carlyle Group. Show less
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Bank of America
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United States
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Banking
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700 & Above Employee
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SVP, Servicing Outreach Executive-National Mortgage Outreach-Legacy Asset Services
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Apr 2011 - Mar 2012
-Primary integration and relationship management with Treasury, MHA/Fannie and MHA-C/Freddie for the MHA programs -Implemented centralized internal and external communication and governance processes for Treasury MHA programs -Led the initiative that improved the MHA Servicer Assessment rating to "Modest Improvement Needed" from "Substantial Improvement Needed" -Legal/Policy/Exam Management liaison -Represented the organization via close partnerships with key internal and external stakeholders -Represented the organization as appropriate in industry forums Show less
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President & CEO
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Apr 2008 - May 2011
Provided consulting services to the mortgage banking/servicing industry. An extensive consulting engagement with the Morgan Stanley subsidiary, Saxon Mortgage, an early adopter of MHA, included the policy development and build out of all aspects of MHA throughout the servicing platform. The long term engagement includes home preservation policy and procedure development as well as process improvement redesign. Policies were created to provide more sustainable loan modifications and processing cycle times were reduced below the Hope Now servicing standards. Liaised with legal, compliance and quality control departments as well as, mortgage trade organizations, Treasury, Fannie and Freddie to implement MHA programs and to accomplish homeownership preservation goals. Show less
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Goldman Sachs
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United States
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Financial Services
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700 & Above Employee
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Vice President
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Jan 2007 - Apr 2008
Recruited to assist the build out of the Goldman residential mortgage platform. Developed a mortgage fraud detection and avoidance group for the mortgage platform. Developed and led a team to support the secondary market quality control and repurchase effort. Enhanced the correspondent approval and review process. Developed a monthly market call for mortgage platform clients. Participated in the mortgage platform compliance communication group to ensure the integrity of the business and consistent compliance controls within the mortgage platform. Show less
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HSBC
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United Kingdom
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Financial Services
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700 & Above Employee
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Senior Vice President
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1987 - 2005
Provided direction and daily management within a business unit that purchased over $1.5 billion per month of residential real estate secured loans in the secondary market and originated over $900 million per month through the wholesale subsidiary, Decision One Mortgage Company (grown from $75 million per month when acquired in 1999). Led through subordinate managers (vice president and department head level), opportunistic purchases, strategic investments, fraud resolution and repurchase, and seller approval and renewal. Also was a liaison for legal, compliance, government relations and industry trade relations. Complete P&L responsibility for the warehouse lending business with over $250 million in receivables. Reported directly to the Group Director, HSBC Mortgage Services and was a member of the senior management team. Show less
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Household International
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Financial Services
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100 - 200 Employee
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Managing Director
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2003 - 2004
Provided management of the warehouse lending, quality control, correspondent seller approval, fraud resolution and repurchase groups. Served as business relationship manager for legal and compliance groups. Reported directly to the President of Mortgage Services and was part of the senior management team. • Assumed liaison role for the servicing organization based in Brandon, Florida and the national sales organization to facilitate appropriate coordination between the groups and senior management. Working closely with management consultants, senior executives and line management, enhanced communication that led to better productivity and functionality of the groups. 2000-2003 Increasing responsibility within the business unit. Show less
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General Counsel
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1995 - 2000
Managed a legal team that partnered with its business clients. The team was responsible for developing and providing legal support to the growing mortgage services business. The team also provided legal support for the commercial financial services group which required, among other things, transactional work, loan workouts, foreclosures and bankruptcies on defaulted commercial loans (including commercial real estate, leveraged buyouts and working capital loans). The commercial financial services work also included the acquisition, turnaround operation and eventual divestiture of a variety of ongoing businesses, including office buildings, hotels, tier one automotive suppliers and commercial aircraft. 1987-1995 Increasing responsibilty within the legal department. Show less
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Education
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The University of Illinois Chicago School of Law
Juris Doctor, Law -
Northwestern University - Kellogg School of Management, Kellogg Management Institute
Certificate, Business Management -
University of Illinois at Urbana-Champaign
B.S. Business Administration
Community
