About The Founder
The Mercury Alliance, LLC was formed in 2005 by Tom DiMercurio who has had a storied career in specialized real estate assets, non-performing real estate loans and REO. DiMercurio learned his skills in handling other firms' bad loans by first handling his own as an offshoot of a family real estate loan business in California in the late 1970's. These skills allowed him to be selected from a nationwide panel of applicants to open and manage FannieMae's first regional office in Houston, Texas to manage fully one-third of FannieMae's national REO inventory in 1986.While at FannieMae, DiMercurio won the coveted President's Award in 1987 for initiating a Pilot Program in the Southwest Region which resulted in a limit on foreclosure fees ultimately changing the landscape of conventional foreclosure fees ultimately creating in state by state maximums.(This simple concept has resulted in bringing about a more efficient market in transactional, legal fees)
Moreover, in just 18 months in Houston, DiMercurio changed the negative perception of a foreclosure resulting in stated demand for FannieMae homes. In Houston, DiMercurio forged the strong alliance/partnership with real estate brokers and agents which has carried through to every subsequent position.
After a stint owning and operating a full-service mortgage company in Houston, DiMercurio was selected to manage single-family activities for the largest SouthwestPlan institution, First Gibraltar Bank, FSB. In his approximately seven years with the Ford Banking Group, DiMercurio sold all the Covered Assets, and opened, managed and profitably ran a new kind of loan servicer with 99% delinquent loans. This business in Tulsa, Oklahoma quickly grew from 15 employees to over 200 and ultimately managed over 10,000 delinquent loans and 3,000 REO's. DiMercurio's clients were all of the major Wall Street players who acquired from the RTC, FDIC and private sellers, by auction and private sale, thousands of non-performing loans. In this environment, DiMercurio crafted loan decisioning tools which categorized non-performing loans into various workout categories. Pro-active workout offers pitched a specific loan resolution to worthy borrowers realizing that borrowers are incapable of determining how they might reperform. DiMercurio and the company he operated in Tulsa, Oklahoma, FGB Realty Advisors, Inc., represented Kidder, Peabody; Paine Webber; CS First Boston; Nomura Asset Capital and Citicorp Securities. When the Ford Bank Group acquired First Nationwide Mortgage from Ford Motor Company, DiMercurio also managed delinquencies and work-outs and personally handled all residential loans in excess of $1,000,000----visiting each asset and personally meeting the borrowers resulting in 100% resolution rate.
DiMercurio left FirstNationwide then known as California Federal and FGB to open a special servicing unit for The Money Store in Tulsa. DiMercurio quickly established a delinquency control unit for all 60-day accounts for the giant sub-prime darling of the industry which discipline brought the information and controls necessary when Money Store management decided to sell its franchise.After the successful closing of the sale to First Union Bank, DiMercurio assisted staff of the Comptroller of the Currency in its assessment of The Money Store and then executed his severance agreement choosing to leave the new entity to pursue other activities.
DiMercurio was then actively recruited to breathe life into a small, proprietary third party asset management firm acquired by Chicago Title Insurance in Westminster, Colorado. In his five years with that company, which ultimately became known as Fidelity National Asset Management Solutions, Inc., DiMercurio oversaw the company grow from 2 clients and 1226 REO assets to number one in its field with 26 clients and 11,440 REO assets in the US, Puerto Rico, and the US Virgin Islands.
DiMercurio continued to reach out and maintain superlative vendor and client relationships. As the strategist for FNAMS' growth, DiMercurio initiated and completed a sale and assignment of the third party REO contracts from FreddieMac and orchestrated the purchase of a servicing contract covering approximately 1,200 assets owned by Washington Mutual and an underutilized web-site for REO listings called www.buybankhomes.com. BuyBankhomes has become the largest free site on the web providing consumers and investors with the largest compilation of nationwide REO listings of some 41,000 assets. Another future product was www.realtydebtrelief.com whcih Fidelity ultimately decided to sell.
In January, 2004, Di Mercurio and FNAMS came to an Agreement for DiMercurio to resign from the Presidency of FNAMS A diagnosis of leukemia. From that date until March 2005, DiMercurio managed the day-to-day operations of www.buybankhomes.com.
Feeling stronger and back to normal, DiMercurio will be utilizing his skills and business acumen to own and operate one or more REO offices in Colorado, Texas and Florida where he is currently licensed as a real estate broker.
Mr. DiMercurio graduated in 1970 from the University of San Francisco with a BA "cum laude" in Government and in 1985 from St. Mary's College of California with an MBA in "Executive Management". He has a Lifetime Teaching Credential from the State of California for all college level courses in Real Estate.
Other products being developed by The Mercury Alliance, LLC:
Consulting services and process re-engineering for default servicers;
Loan portfolio analysis and sales for non-performing loans,
Jumbo Loan Loss Mitigation;
Products and tools for the REO professional service provider;
Funding and Administration of $100,000,000 "Fix and Flip" Credit Facility for Investors Nationwide.
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Mission Statement of The Mercury Alliance, LLC:
To develop, implement and monetize specialized real estate strategies of benefit to investors/clients focused on liquidity and the time-value of money. |