Gregory S. Richardson Appointed as Chief Revenue Officer at Atlantic Bay Mortgage Group

Atlantic Bay Mortgage Group Announces New Leadership

In a significant move for the mortgage industry, Atlantic Bay Mortgage Group has appointed Gregory S. Richardson as its new Chief Revenue Officer. Richardson is set to play a pivotal role in shaping the company's revenue strategies across critical areas such as production, capital markets, product development, and relationships with institutional investors.

Richardson, a seasoned executive with over 35 years of experience in mortgage banking and capital markets, brings a wealth of knowledge and leadership to the position. His responsibilities will include managing secondary marketing, pricing strategies, pipeline hedging, and investor relations. In addition, he will collaborate with the executive leadership team to propel production growth, strengthen capital market functions, and drive Atlantic Bay's long-term expansion strategy.

Brian Holland, the Founder and CEO of Atlantic Bay, expressed enthusiasm for Richardson's appointment, emphasizing his respected status in the industry. “We are excited to welcome him to Atlantic Bay,” Holland stated. He believes that Richardson’s extensive experience in managing large mortgage portfolios and his successful track record with capital markets teams will be invaluable as the company seeks to expand its production platform and maintain disciplined growth.

Before taking the reins at Atlantic Bay, Richardson served as the Executive Vice President of Capital Markets at Primis Mortgage. His leadership there was marked by rapid growth in annual originations, greatly enhancing the company’s market presence in a relatively short time.

Richardson's previous roles include senior leadership positions at MAXEX, Movement Mortgage, and AltaMira Mortgage Partners. Notably, at Movement Mortgage, he led the capital markets division, which managed a $13 billion annual mortgage pipeline and oversaw loan sales to both agency and institutional investors.

His experience also spans significant roles at Wells Fargo Securities and Wachovia Corporation, where he was responsible for managing a remarkable $35 billion residential mortgage portfolio. His efforts also included the establishment of a $20 billion whole loan acquisition program, yielding over $210 million in excess returns, underscoring his proficiency in driving profitability in complex markets.

Founded in 1996, Atlantic Bay Mortgage Group is a full-service mortgage lender based in Virginia Beach, Virginia. The company offers a broad selection of residential mortgage products, including conventional loans, FHA, VA, USDA, and jumbo loans, serving a diverse clientele across multiple states. Known for its commitment to exceptional customer service, Atlantic Bay combines local lending expertise with innovative technology to provide a personalized mortgage lending experience.

Furthermore, Atlantic Bay is recognized as a top workplace and emphasizes its corporate responsibility through various charitable initiatives and partnerships aimed at improving the communities it serves.

With the addition of Gregory S. Richardson to their executive team, Atlantic Bay Mortgage Group is poised for continued growth and expansion as they reinforce their commitment to providing quality mortgage services while adapting to market changes.