Randal W. Stoller To Head Up Residential Mortgage Lending At Mechanics Bank

Posted by Patrick Barnard on February 15, 2016 No Comments
Categories : Residential Mortgage

Randal W. Stoller has joined Mechanics Bank in the new role of senior vice president in charge of residential mortgage lending.

Stoller has 34 years of institutional structured finance, investment banking and mortgage market experience, Mechanics Bank says in a release. He previously held executive roles with Lehman Brothers, Salomon Brothers and Citibank Global Investment Bank. Prior to that, he spent five years as a senior mortgage portfolio manager at Golden West Financial Corp., the parent of World Savings and Loan Association.

In 2005, he co-founded Falcon Bridge Capital, a mortgage securities asset management firm and also launched a private consulting and advisory practice in 2008 with an emphasis on assisting environmentally, socially and economically responsible, non-profit enterprises.

“The recent market for residential mortgage lending has largely been limited to the large National Banks, offering relatively few products, rigid underwriting criteria and a complex loan origination process that many borrowers find challenging,” says Ken Russell, president and CEO of Mechanics Bank, in a release. “This market dynamic has opened up a real opportunity for Mechanics Bank to address the needs of a significant group of underserved, high quality borrowers for whom a one-size-fits-all approach doesn’t work. In the current, prolonged low rate environment, and given the bank’s strong balance sheet, it makes sense for us to expand our residential mortgage lending effort.”

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