Gregory S. Richardson has joined Virginia-based Atlantic Bay Mortgage Group as chief revenue officer, the company announced Thursday.
In his new role, Richardson will lead enterprise revenue strategy and alignment across production, capital markets, product development and institutional investor relationships, according to a press release.
Richardson brings more than 35 years of mortgage banking and capital markets experience to Atlantic Bay. He will oversee secondary marketing, pricing strategy, pipeline hedging and investor relationships while working with the executive team to support production growth, strengthen capital markets execution and advance the lender’s market expansion strategy.
“Greg is a highly respected leader in mortgage banking and capital markets, and we are excited to welcome him to Atlantic Bay,” Brian Holland, founder and CEO of Atlantic Bay Mortgage Group, said in a statement. “His deep experience managing large mortgage portfolios, leading capital markets teams and building strong relationships with institutional investors will play an important role as we continue expanding our production platform and delivering disciplined growth across the organization.”
Richardson most recently served as executive vice president of capital markets at Primis Mortgage, where he was part of the executive leadership team. During roughly three-and-a-half years at Primis, the company saw what Atlantic Bay described as “significant growth” in annual originations, although specific production figures were not disclosed.
Earlier in his career, Richardson held senior leadership roles at MAXEX, Movement Mortgage and AltaMira Mortgage Partners. At Movement Mortgage, he led the capital markets division that managed a $13 billion annual mortgage pipeline and oversaw loan sale execution across agency and institutional investors.
He also previously held leadership roles at Wells Fargo Securities and Wachovia Corp., where he managed a $35 billion residential mortgage portfolio and helped build a $20 billion whole loan acquisition program that generated more than $210 million in excess returns, according to the release.
The addition of a dedicated chief revenue officer with deep secondary and capital markets experience reflects how nonbank lenders are prioritizing execution and pricing in a market defined by volatile rates, thinner margins and intense competition for purchase business. For lenders, disciplined hedging, strong investor relationships and optimized loan sales strategies can be as critical to profitability as front-end production volume.
For retail loan officers and branch leaders, Atlantic Bay’s move signals a continued focus on capital markets sophistication and secondary execution, factors that can influence pricing competitiveness, product mix and turn times in local markets.
Founded in 1996, Atlantic Bay Mortgage Group is a private, full-service mortgage lender headquartered in Virginia Beach, Virginia. The company offers conventional, government and jumbo loans products across multiple states, and it has positioned itself as a purchase-focused lender with a customer-service emphasis.
According to Modex data, the company has 274 sponsored loan officers across 79 branch locations. It closed roughly $3.5 billion in volume across 11,175 units over the past 12 months.
Richardson’s hire comes two months after Atlantic Bay announced the addition of Robyn Zacharias as chief marketing officer. Zacharias has 30-plus years of experience in marketing and advertising leadership roles, including more than 20 years as an agency head where she spearheaded strategic, data-driven campaigns across multiple industries.
Neil Pierson reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.
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