David Abrahamson Returns to Lead Risk Management for EPM, Elevating Mortgage Standards

EPM's Strategic Appointment of David Abrahamson

Equity Prime Mortgage (EPM) has made headlines with their recent announcement of bringing back seasoned industry veteran David Abrahamson as Chief Risk Officer. This move not only illustrates EPM's commitment to strengthening its risk management framework but also underscores the value of experienced leadership in navigating the complexities of the mortgage landscape.

David Abrahamson's journey with EPM dates back to 2010, a period that saw him play a pivotal role as the company underwent substantial growth and transformation. Initially, Abrahamson joined EPM during its formative years, where his insights contributed to the company's evolution from a retail-focused refinance organization to a well-rounded mortgage lender with a growing wholesale model. By the time he left in 2020, EPM had cemented its stature in the industry, operating solely as a wholesale lender while upholding the core values and entrepreneurial spirit that shaped its early success.

After a significant hiatus, Abrahamson returns, bringing nearly 40 years of invaluable experience across different sectors of the mortgage industry, including risk management, operations, credit, and sales. This extensive background positions him well to tackle the challenges that accompany EPM’s current business model.

In his new role, Abrahamson aims to fortify EPM's broader risk management strategies, adding an extra layer of executive oversight to various functions, such as credit, underwriting, regulatory compliance, and investor relations. His immediate focus areas include assessing the current risk landscape at EPM, boosting interdepartmental communication, enhancing internal controls, and ensuring adherence to regulatory mandates.

Abrahamson emphasizes that effective risk management aligns with meeting the expectations set forth by regulators such as HUD, Fannie Mae, Freddie Mac, and the CFPB. He aims to examine the existing conditions within EPM, identify requisite changes, and implement robust processes that promote long-term viability. "Understanding our current position is pivotal," he remarks, "as it will aid in pinpointing vulnerabilities and refining our underwriting quality. Our objective is to create high-quality loans that foster sustainable homeownership."

In a statement reflecting on his return, Abrahamson expressed his enduring relationship with EPM, stating, "EPM has always felt like my home base. The opportunity to return at this point in time feels right. The company has seen significant changes, but the relationships and the vision remain steadfast, offering me a chance to contribute meaningfully once more."

EPM’s founder and CEO, Eddy G. Perez Jr., views Abrahamson’s appointment as not just a filling of a position, but as a strategic move for the company’s foundation. "David understands EPM intimately because he helped lay the groundwork for its success," Perez commented. He further articulated the value of integrated leadership as being critical while acknowledging the discipline and clarity needed for the company’s next growth phase.

Abrahamson acknowledges that EPM has already made strides toward fortifying its risk profile and establishing clearer lending practices. His role will build upon these achievements, focusing on structuring, oversight, and coordination for refining underwriting policies and quality management.

The emphasis on quality extends beyond the financial metrics—it encompasses relationships with borrowers, brokers, and investors alike. From a borrower’s perspective, Abrahamson underscores the importance of not placing unwarranted financial burdens on them. "Our responsibility lies in generating positive homeownership experiences, rather than financial distress," he stated. For EPM brokers, robust risk management translates into consistent and effective operations, whilst for investors, it fosters a dependable bond based on transparent and high-quality output.

In a landscape where remote work has become the norm, Abrahamson opts for a hands-on approach, valuing in-office collaboration as essential for effective communication and problem-solving. "The value of face-to-face discussions cannot be overstated. It enhances my understanding of the team's dynamics and allows for direct engagement to address challenges, thereby fostering a more cohesive environment," he commented.

As he settles into his role at EPM's headquarters in Atlanta, Abrahamson reunites with several former colleagues, reflecting a shared commitment to solidifying the foundations necessary for the next chapter of the company's journey. Emphasizing his enduring passion for risk management, he remarked, "Risk is my true love, and it's where I believe I can make the greatest impact." This harmonious blend of experienced leadership and a forward-focused strategy positions EPM for a prosperous future.

In summary, David Abrahamson's return to EPM marks a strategic investment in not just risk management, but in cultivating relationships, transparency, and sustained growth within the mortgage sector. It exemplifies EPM’s vision of continual improvement and preparedness for the evolving marketplace demands.