Mortgage banker American Mortgage Network (AmNet), a 100% employee-owned company (ESOP), announced today that David W. Wallace, AmNet’s Chief Financial Officer, and Executive Vice President, was named a 2022 Finance Leader by Housing Wire. The 2022 Finance Leaders awards recognize the top finance executives who are driving financial performance, expanding margins, improving liquidity, and helping their businesses access the capital markets.
The Finance Leaders are selected by Housing Wire’s Selection Committee based on their professional achievements within their organizations, contributions to the overall housing economy, client impact, and personal success.
With Co-founder Joseph Restivo, Wallace built American Mortgage Network, a 100% employee-owned company (ESOP) from the ground up. He helped to make the ESOP a reality by creating a lean infrastructure, hiring the entire financial team, and establishing a structure that was open and without bureaucracy.
Wallace oversees all finance-related tasks, including Secondary and Capital Markets, HR, Legal, PR, and Communications. He was responsible for moving the company from a non-delegated to the delegated lending process. Wallace began a hedging function at AmNet to improve everyday execution and increase revenue margins. The value of the de novo business structure is the ability to create a new organization that is unencumbered by old ways of doing business and provides the opportunity to foster a culture that is completely focused on clients and employees.
Joseph Restivo, President and CEO of American Mortgage Network, stated, “Dave leads by example and lives the values that have made AmNet successful in a short period of time. He is highly involved and available to the organization, preferring to roll up his sleeves, work alongside the other employee-owners as well as listen and learn from them. As a calm, thoughtful leader who is very approachable and invites participation, Dave sets clear goals and understands the need for flexibility during a rapidly evolving market.”
“These formidable finance executives are made up of strategic leaders who are paving the way for the future of housing finance at a pivotal time in the housing market,” HousingWire Editor and Chief Sarah Wheeler said. “Not only are this year’s honorees balancing budgets and driving growth, they’re also teachers and mentors who are working across organizational boundaries, influencing team members, and encouraging excellence throughout their organizations.”
Wallace’s full winner profile can be found here: https://www.housingwire.com/winner-profile/2022-finance-leader-david-wallace/.
About ESOP American Mortgage Network
American Mortgage Network (AmNet) is a 100% employee-owned company (ESOP) whose core business is originating primary residential mortgages. Amie offers a full suite of purchase and refinancing products. It is a recognized leader in the VA market. AmNet targets all qualified borrowers for product offerings and is committed to fair lending practices. The company is now licensed in 38 states. Visit us to learn more at https://amnetmtg.com/.
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