Hatteras Financial Corp. (NYSE:HTS) (“Hatteras” or the “Company”)
today announced that Michael Nardacci and Kent Willard have joined the
management team at Onslow Bay Financial LLC (“Onslow”), a Hatteras
Financial Corp. subsidiary, as Conduit Credit Manager and Conduit
Operations Manager respectively.
Mr. Nardacci comes to Onslow after five years at Ginnie Mae (“GNMA”)
where he was Director, Capital Markets - Structured Transactions,
managing and closing 230 Real Estate Mortgage Investment Conduit (REMIC)
transactions in 2013; managing a team that modelled the transactions and
cash flows on all of GNMA’s structured products and monthly issuances
and working closely with sponsors, trustees, and financial and legal
advisors. Prior responsibilities include establishing and managing
internal and external processes and procedures for Fieldstone Investment
Corporation’s residential mortgages securitizations. Mr. Nardacci past
experience includes roles at KPMG LLP and Freddie Mac. Mr. Nardacci
holds an MBA from George Washington University and a BS, Business
Administration-Management from Norwich University.
Mr. Willard comes to Onslow with more than 20 years’ experience in risk
management, including quantitative modeling, risk strategy, policy
development, analysis, and performance reporting. For the last five
years, as an independent consultant, he has performed consumer finance
portfolio due diligence, analysis, and origination risk management for
financial institutions that have acquired consumer finance lenders.
Previously he performed similar modeling, forecasting, reporting and
risk surveillance roles for Paulson & Company, Triad Guaranty and Fannie
Mae. Earlier in his career he held positions at Washington Mutual,
Fannie Mae, Freddie Mac and the Resolution Trust Corporation. Mr.
Willard holds a BA in Economics and Finance from the University of Texas
at Dallas.
“We are very pleased Mike and Kent have joined us to assist in the
development of the Hatteras’ business,” said Michael R. Hough, Hatteras’
Chairman and Chief Executive Officer. “Their senior-level expertise in
the origination, evaluation, management, securitization and monitoring
residential mortgage loans will allow us to add a dimension to our focus
on adjustable rate mortgages in an area where risks and returns are
attractive and will also add depth to risk control procedures across all
our operations.”
About Hatteras Financial Corp.
Hatteras is a real estate investment trust formed in 2007 to invest in
single-family residential real estate mortgage assets. Based in
Winston-Salem, N.C., Hatteras is managed and advised by Atlantic Capital
Advisors LLC. Hatteras is a component of the Russell 1000® index.
Copyright Business Wire 2014