Suggestions
Jim Fraser
Chief Operating Officer
Professional Background
Jim Fraser is a highly respected banking and financial services executive, known for his extensive experience in managing and leading diverse mortgage lending operations. With a strong commitment to innovation and excellence, Jim currently serves as a senior executive manager at Axos Bank, where he oversees a national portfolio that encompasses commercial real estate (CRE) bridge and construction lending, lender finance, equipment leasing, and factoring business lines, amassing a combined portfolio valued at approximately $3.9 billion. His expertise and leadership have significantly impacted the growth and profitability of these business units.
Prior to his role at Axos Bank, Jim was a notable figure at Banc of California, where he assumed the role of business unit leader, overseeing a robust portfolio of $500 million in residential and commercial real estate construction. During his tenure, he managed the FNMA (Fannie Mae) and FHA (Federal Housing Administration) renovation lending programs under the Banc Home Loans national mortgage lending brand. He was instrumental in launching and managing third-party, fee-based services through RenovationReady, a division dedicated to providing exceptional renovation lending solutions.
One of Jim's remarkable achievements is the founding of RenovationReady, LLC. This organization became a key player in offering U.S. mortgage lenders essential contract origination and post-closing services, helping them effectively navigate and manage risks associated with FHA and FNMA renovation lending products. Under his leadership, RenovationReady experienced phenomenal growth, exceeding 100% in client acquisition, volume, and revenues within the first two years of operations. This success ultimately led to a well-deserved acquisition by Banc of California, marking a significant milestone in Jim's career.
Additionally, Jim co-founded the Milestone Asset Resolution Company, which served as a precursor to Sabal Financial. This firm was dedicated to providing critical valuation, asset management, and liquidation services for distressed assets including ADC (Acquisition, Development, and Construction) loans and bank-owned real estate (OREO). His clients included prominent institutions such as the FDIC and various community and regional banks, showcasing his capabilities in identifying and resolving complex financial challenges.
Before establishing a footprint in entrepreneurial ventures, Jim served as the Executive Vice President (EVP) of consumer construction lending at IndyMac Bank. Here, he played a crucial role in developing the nation’s largest residential consumer construction and renovation loan origination, servicing, and asset management platform. With a management portfolio of $3 billion in loans and $150 million in core capital, he led a team of 400 employees across five regional centers, demonstrating exceptional leadership and strategic acumen. His division contributed significantly to IndyMac Bank's earnings per share (EPS), illustrating his profound impact on financial performance.
Education and Achievements
Jim Fraser's educational foundation is rooted in a solid understanding of land use and environmental design. He pursued his Bachelor of Science degree in Land Use Planning and Management/Development at California Polytechnic State University-San Luis Obispo, honing his analytical skills and gaining insights into the intersection of real estate and financial services. Additionally, he studied Environmental Design at the prestigious University of Colorado Boulder, further broadening his expertise in property management and sustainable development.
His extensive career has not only been marked by remarkable achievements but also by significant positions held in various esteemed organizations within the financial sector. Jim's prior roles include serving as the Chief Operating Officer at Anchor Loans, Director of CRE Construction at Built Technologies, and EVP of Commercial Lending at Axos Bank. He also demonstrated his leadership as Managing Director for Construction & Renovation Lending at Banc of California, reflecting his versatility and strength as a leader.
In line with his leadership roles, Jim was previously the Co-founder and President at Milestone Asset Resolution Company, and as the Divisional CEO and EVP at IndyMac Federal Bank, he navigated the complexities of FDIC conservatorship following the economic downturn, ensuring the bank’s sustained operations and eventual sale to OneWest Bank and Dune Capital. Additionally, he has served as Partner and Senior Vice President of Construction Lending at San Marino Mortgage Corporation, showcasing his comprehensive knowledge across various facets of the banking and financial services industry.
Achievements
- Innovative Leadership: Successfully launched and scaled RenovationReady, LLC, achieving over 100% growth in client and revenue metrics within two years.
- Significant Portfolio Management: Managed a combined portfolio of loan assets exceeding $3.9 billion at Axos Bank, demonstrating efficiency in portfolio oversight and risk management.
- Transformative Impact on Lending Platforms: Oversaw the nation’s largest residential construction and renovation loan origination platform at IndyMac Bank, contributing significantly to the bank's overall financial performance.
- Successful Acquisition: Played a pivotal role in the acquisition of RenovationReady by Banc of California after substantial growth and success in the renovation lending market.
- Crisis Management: Effectively managed and turned around lending operations during times of economic difficulty while serving in FDIC conservatorship, leading to a successful sale.
Professional Affiliations
Jim Fraser has been part of several influential organizations throughout his career. He has also contributed to industry discussions and development through his leadership roles in various capacities, enhancing the operations and standards within the banking and financial services sector.