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David C. Fleig is an expert in mortgage banking, real estate finance, mortgage warehouse lending and credit analysis. His capabilities cover a broad range of consulting services, including analysis of challenging mortgage banking and real estate finance cases and translating complex issues into clear business solutions. As a long-time and award winning entrepreneur and CEO, Mr. Fleig brings real world experience and prospective to each engagement. Prior to founding Financial Analysis Partners, Mr. Fleig was co-founder and CEO of Access Lending, a privately held specialty finance company which provided residential mortgage warehouse lines to a nationwide customer base for 11+ years beginning in 1997. This company, one of the very few non-bank participants ever in the warehouse lending space, was successfully sold to a large NYSE traded mortgage company in 2006 and then to a regional bank in 2007. In both cases, Mr. Fleig served as president of the Access Lending division of those companies. Among other accomplishments, Access was able to grow through raising capital from the finance subsidiary of a large public company and accessed the commercial paper market using an off-balance sheet SPE, a model which several large commercial banks later emulated. The Access operation was widely respected in the mortgage industry, and revered for its outstanding customer service and industry "best practices". Mr. Fleig also served as CEO of Access' wholly owned subsidiary, a national scope residential mortgage company with over $1 billion in annual origination volume. Other career achievements for David Fleig include developing the business plan, raising the capital and directing the operations of a partnership which invested in mortgage loans servicing rights. During its 6 year existence, the partnership purchased over $7 billion in residential servicing rights with a combination of capital provided by institutional investors and senior bank financing. Mr. Fleig's responsibilities as co-general partner included structuring bids, negotiating purchase agreements, heading due diligence, negotiating bank lines and analyzing and executing hedge transactions. The partnership’s performance was stellar, producing an average annual ROE of over 40% Mr. Fleig began his career as a CPA with Ernst & Young, specializing in real estate and mortgage banking and after 9 years left to become the CFO of a full service mortgage company client. David Fleig is a cum laude graduate of Texas A&M University (BBA) and was a member of the Phi Eta Sigma and Beta Gamma Sigma scholastic fraternities. He also served as president of the Beta Alpha Psi accounting fraternity at TAMU. Mr. Fleig was honored as a finalist in the 2003 Ernst & Young Entrepreneur of the Year program. Access Lending was named as a member of the 2005 Aggie 100 (fastest growing companies) by the Mays Business School Center for Entrepreneurship at Texas A&M University. Mr. Fleig has served as a frequent speaker and panelist in the mortgage industry for the Mortgage Bankers Association of America, National Association of Mortgage Brokers, Texas Association of Mortgage Brokers and the Texas Mortgage Bankers Association. |
| John L. Sullivan, CPA, Managing Director
John L. Sullivan has extensive experience in valuing mortgage servicing rights (MSR) including buying/selling for his own account and as an independent consultant for over seventeen years. In addition to providing support for purchase and sale activities, Mr. Sullivan also assists clients with staying abreast of accounting and regulatory develops, assessing financial impact and compliance with reporting requirements. This experience along with serving as a corporate Treasurer and CFO for many years has provided Mr. Sullivan with practical experience allowing him to understand what drives successful business and the importance of fiscal responsibility. |