Dec 2011 – Apr 2022 · 10 yrs 4 mos · San Diego County, California, United States

• Part of DFIN - Paymency Web 3.0 provides consumers a better way to hold, spend, and manage their money as we drive merchant card fees to zero.

May 2010 – Apr 2011 · 11 mos · Palm Desert, California, United States · On-site

• Operating Under a C&D when I was hired, Sold Branches and Prepaid Card Business

Jan 1999 – Mar 2010 · 11 yrs 2 mos

May 1997 – Apr 2011 · 13 yrs 11 mos

• After R&D in DFIN, Bank of Internet USA, (NASD BofI), Named changed to AXOS in 2018, opened July 4, 2000 after 4+ years of planning, design, and build. As founder, BofI was my second successful step to adapt banking to the new digital economy. We banked customers in all 50 states, were profitable in 14 months and we focused on a full line of deposit and consumer loan products. We built a strong lending culture and built most lending systems in house. This included the second mortgage products and auto loans that were generated and processed online with lending technology that we built.
• BofI has always been the most successful Internet banking model. Even early in the build we outperformed peers at lower levels of risk. Today Bofi is more efficient and profitable than all but a few banks.
• Having created a new vision for banking I had to work with staff on all aspects of the design and build. Designing and re-designing the staff process and workflow is as important as the technology. This includes teaching staff. My involvement in the BofI build included the product design and monitoring of the staff for all technology outside of the core banking system. This included fraud control, CRM, deposit processing, a full array of loan processing and underwriting systems and marketing technology.
• BofI prospered when most pure-play Internet banks failed and unlike most banks, our strategy and tactics prepared us to prosper from the Great Recession. We were the embodiment of Warren Buffett’s advice to “Be fearful when others are greedy and be greedy when others are fearful". We had minimal loan problems and our agency MBS allowed us to prosper after the recession started.

Dec 1996 – Present · 29 yrs 4 mos · San Diego, California, United States

• DFIN – FinTech R&D and consulting since 1996. DFIN original partners launched two successful businesses and published one book. The Financial Institutions Internet Sourcebook, McGraw-Hill; was published on January 1, 1997. The first business was DigitU, a banking education site for bank staff and the second business launched was Bank of Internet BofI, whose name changed in 2018 to AXOS Bank. BofI is arguably the most successful digital bank in history. The current R&D Focus is DeFi and Web3 banking and payments for the Metaverse. Consulting includes change management, bank, and real estate Loan due diligence and management.

Jan 1996 – Present · 30 yrs 3 mos

Dec 1995 – Present · 30 yrs 4 mos · San Diego Metropolitan Area

• Premium Domain Name Investing Since 1995. Names Included DFIN, Bankof Internet, BofI, PrivvateBanker, UsedCarSales, NewCarSales, PetSales, etc.

Jun 1988 – Jun 1996 · 8 yrs · La Jolla California

• Approximately two years after opening, I was selected as the third President, CEO and Director. La Jolla Bank has the distinction of being one of the first banks on the Internet in 1994.
• La Jolla Bank grew under my direction into a multi-state lender and depository that specialized in construction and income property lending.
• I led the purchase Stamford Federal in Stamford Connecticut in early 1990s. The banks had common ownership and I Served as a Director of both banks.

Jan 1986 – Jan 1988 · 2 yrs · Santa Ana California

• Ramona Savings was founded in 1926, and sold to developers in the early 1980s. Ramona failed within a few years of new ownership in one of the largest Thrift Failures in Orange County history at the time. Non earnings assets exceeded 90% and the books were out of balance.
• The fraud was extensive. I was brought in for the cleanup and establish sound books, reduce costs, gain possession of and liquidate the REO. This was all achieved. The Bank was prepared for eventual sale. Loan servicing was sold, property was liquidated and legal issues were mostly cleared and the bank was sold.

Jan 1973 – Jan 1981 · 8 yrs · Torrance California · On-site

• Marina Federal was an 8 branch Savings and Loan based in Torrance California. We were one of the few California thrifts that was profitable in the high interest rates of 1981. This can be directly attributed to our MBS options trading and high liquidity strategy in anticipation of the inflation and high interest rates of the late 70s early 80s.
• As CFO I also actively managed what became the largest GNMA MBS portfolio in banking at the time.

Jun 1971 – Jun 1973 · 2 yrs · Woodland Hills, CA · On-site

• Great on the Job Bank Training including my first technology project ie: how can the bank save money by sorting paper checks in house? This was a big deal when all we had was 10 key-adding machines. Trained in operations and then consumer and business lending.
• I was trained in all areas of a bank from Safe Deposit Clerk, funded auto loans in an auto dealer division, learned to underwrite business loans and served as an assistant manager of a branch in Woodland Hills CA.