Departments: Secondary Market Mortgage Services
Joseph A. Runk, Jr. is one of the two Principals of Mission, founded in 2002. He has over 25 years of experience in real estate capital markets and banking. He has advised a variety of commercial and government clients on the sale of nearly $70 billion of mortgage loan portfolios and over $150 billion of asset valuations. In his role as Principal, he has a responsibility for a wide range of professional services, with demonstrated abilities in asset pricing, deal structuring, transaction management, risk management and corporate finance. He has direct oversight of all three of the contracts with the FDIC (Valuation Advisor, Loan Sale Advisor, and Structured Sale Advisor) since 2009. Prior to founding Mission Capital, he was the head of nonperforming residential mortgage loan acquisitions at GMAC-RFC and Ocwen and was a bank examiner with the Federal Reserve Bank of Richmond. Mr. Runk has BS degree in Economics from the University of Richmond and an MBA from Duke University.
Mimi Grotto is a Managing Director – Business Development with Mission and has over 20 years of experience in mortgage products sales and trading. Ms. Grotto joined Mission from Credit Suisse First Boston where she was a Director of mortgage trading. Ms. Grotto held the same position at Donaldson, Lufkin & Jenrette prior to its acquisition by CSFB.
Prior to DLJ, Ms. Grotto was at Fortress Investment Group where she was responsible for business development, specifically sourcing investment opportunities in non-performing and sub-prime assets for its various funds. Prior to Fortress, Ms. Grotto spent 17 years at GE Capital, where she was a Senior Vice President. Ms. Grotto held positions in sales management, business development and trading at various GE Capital subsidiaries including GE Mortgage Insurance, GE Mortgage Services, GE Asset Management and Kidder Peabody. Ms. Grotto holds a Bachelor of Science degree in Business Administration from Babson College.
Dwight L. Bostic is the Managing Director of Sales & Trading for Mission and has over 25 years of mortgage trading, risk management and operational management experience working for major financial firms and investment banks, including Credit Suisse, DLJ, Bayview Financial, Ocwen Financial, and Prudential Home Mortgage. As the head of Mission Capital Advisor’s residential trading business, he has advised high profile commercial and government clients on the more than $40 billion of residential mortgage loan portfolio sales and agency deliveries. In his role as Managing Director, he has a responsibility for all residential trading, operations, and business development functions. He has demonstrated abilities in managing complex trading and operational management, asset pricing, deal structuring, transaction management, risk management and corporate finance. He was the lead advisor on the $1.2 billion residential loan sale for the Federal Reserve Bank of New York in 2012, HSBC’s multi-year exit of their legacy portfolio, and American General Financial’s structured whole loan sale to HSBC and HSBC’s subsequent delivery to Fannie Mae during the depth of the mortgage market decline in 2009. Mr. Bostic received a Bachelor of Science in Business Management with concentrations in finance and economics from West Virginia University.
Debbie Johnston is the Vice President of Loan Sale Operations for Mission’s Austin operations and has been in the mortgage industry for 25 years. Ms. Johnston has a diverse expertise in various areas of the mortgage industry including loan sales, mortgage servicing, originations, system administration and application development. Her responsibilities with Mission Capital include managing agency and private securitization deliveries, contract management and quality assurance processes. Additional responsibilities include whole loan sales, including on-site due diligence, post-closing contract management, repurchase requests, transfer of servicing and delinquent tax claims and Remittance reconciliations. While at Mission Capital, Mrs. Johnston has managed 31 agency deliveries consisting of 70,000 loans in excess of $14 billion and 6 private deliveries consisting of 14,000 loans in excess of $1 billion. Prior to transitioning to the mortgage insurance operations, she was responsible for the system application support functions. She previously handled loan servicing acquisitions and transfers for Empire Funding along with application support for all servicing functions.