TCB announces Head of Mortgage Finance's retirement
Published on Apr 27, 2017
DALLAS – April 27, 2017 - Texas Capital Bank today announced that Gary Ort, president of its highly successful Mortgage Finance Division, is retiring at the end of June and will be succeeded by Director of Correspondent Lending Jack Nunnery.
“Gary has been a key architect in the growth and success of Texas Capital Bank,” said Texas Capital Bank President and CEO Keith Cargill. “We owe him a tremendous amount of gratitude.”
Mr. Cargill continued, “Jack Nunnery has been at Gary’s side the whole way and brings to the role not only a deep knowledge of the business and its past but also a clear vision for its future. And both Gary and Jack understand the important role our clients have played in our success, and how Texas Capital Bank wouldn’t be here without them.”
Vince Ackerson, the bank’s Texas president and chief lending officer, said, “Our mortgage operation has achieved remarkable milestones thanks to Gary Ort. With Jack Nunnery at the helm, we expect Texas Capital Bank to show sustained leadership in this market.”
Under Mr. Ort, who served Texas Capital for the past decade, the bank built its Mortgage Warehouse unit into one of the largest providers of mortgage warehouse credit facilities in the country.
He also presided over the newly launched Correspondent Lending business and expanded Texas Capital Bank’s credit offering to mortgage lenders to include lines of credit secured by mortgage servicing rights, also one of the nation’s largest businesses of its kind.
“I’ve been privileged to be with an organization like Texas Capital Bank, which deeply values entrepreneurial thinking,” said Mr. Ort. “We’ve built a robust mortgage finance business, and I can’t think of a better person to grow it than Jack Nunnery.”
Mr. Nunnery has broad experience in the mortgage industry in a variety of roles, including counterparty risk management, mortgage technology, underwriting, post production and secondary marketing.
At Texas Capital Bank he oversaw the creation of the Correspondent Lending business, which launched in 2016, helping to introduce cutting edge technology and product innovation to the industry.
“Gary Ort has made a significant impact on Texas Capital Bank,” said Mr. Nunnery. “I am honored to take over the Mortgage Finance business and build on his success.”