Kevin Herzberg, MBA, BSEE, LSSBB

Kevin Herzberg is an executive leader with over 20 years of experience in business strategy, operations, and fiscal excellence for major banking and lending corporations. He has served as an expert witness in over 40 cases and submitted comprehensive written reports on complex matters that were presented to the courts in layman's terms.

Disputes have argued the following issues:
* The 2008 Financial Crisis Involving Residential Mortgage-Backed Securities (RMBS)
* Misappropriation of Trade Secrets
* Predatory Lending
* Multiple County Tax Assessors
* Environmental Contamination and Real Estate Valuation Stigma

Topics covered included:
* Real Estate Automated Valuation Models (AVMs)
* Intellectual Property (IP) / Software Source Code Theft
* Errant Lending Practices
* Mortgage Fraud
* Loan Servicing
* Foreclosures
* Loan Modifications
* Loan Workouts
* Real Estate Owned (REO)
* Lending Due Diligence

Mr. Herzberg can be a sounding board on these subjects for general guidance as well as direct complex data analytics and strategy teams to develop case specific themes and arguments rooted in data driven conclusions from large datasets.

Vice Chairman, Pasadena Angels - a Forbes top 10 nationally ranked start-up company investment and mentorship group of ~100 members. Board member of Pasadena Angels as well as technology portfolio company.

MBA in Finance and BS in Electrical Engineering, both from nationally ranked universities, California Department of Real Estate Broker License as well as Lean Six Sigma Black Belt certification.

Great references available from several of the largest and well-respected law firms.

Litigation Support Services

Mr. Herzberg has testified as an expert witness in over 40 cases and provided detailed written reports on complex matters that were presented to the courts in layman's terms.

Areas of Expertise

Additional Expertise:

Automated Valuation Models/AVMs, Residential Mortgage-Backed Securities/RMBS, Mortgage Lending/Originations, Lending Practices, Loan Underwriting, Mortgage Fraud, Valuation/Appraisal, Foreclosures/Loan Modifications, Trade Secrets/Misappropriation, Mortgage Insurance/MI.

Professional Experience

Vice Chairman
Pasadena Angels
Jan 2015 - Present

A Forbes top 10 nationally ranked start-up company investment and mentorship group of approximately 100 members.

• Actively engaged in the startup ecosystem as an investor, board member, and an appearance on CNBC. Have led successful rounds for several startups and involved mentoring numerous companies.

Principal
Serpentine Partners, LLC
2014 - Present

Pioneered the launch and continued management of this business consulting firm serving the Financial Services industry, working with some of the largest investment banks and law firms. Gains insight into the challenges facing each client to identify opportunities for additional account penetration. Develops and deploys technologies to meet the needs of clients in the mortgage banking and securities industries, improving revenue and productivity, while lowering risk.

• Served as a consulting expert witness in over 40 litigation matters originating from the 2008 financial crisis and involving Residential Mortgage-Backed Securities (RMBS) with alleged appraisal inflation at issue. Claims were based on the inner-workings, use and efficacy of Automated Valuation Models (AVMs).
• Other expert engagements include trade secrets, improper lending practices, predatory lending, multiple county tax assessors losses and environmental matters.
• Direct complex data analytics and strategy teams to develop case specific themes and arguments, including comprehensive expert reports, rooted in data driven conclusions from large datasets as well as industry best practices.

Bank of America
Sr. Vice President, Business Executive – Operations
2012 - 2014

A demonstrated record of success and achievement at this Fortune 100 corporation, marked by a series of promotions to positions of increased influence, authority, and accountability. Valued as a top contributor capable of understanding complex situations and aligning teams and technologies to address the needs of clients and stakeholders.

Promoted to direct strategic planning and operations for the Loan Modifications Control Tower, with authority over more than 50 direct reports and an overall organization of over 1,500 individuals in domestic and offshore locations. Established a team of experts dedicated to forecasting and resolving potential system issues.

• Credited with resolving loan modifications within the federal regulatory timeline of 30 days.
• Captured improvements in workflows and decisioning using Lean Management and Six Sigma principles.
• Improved productivity by 25% by writing a Steps and Triggers document that aligned technology and business stakeholders.
• Established a culture of professional development that led to the promotions of more than 10 direct line team members.

Senior Vice President, Sr. Group Operations Manager
2010 - 2012

Worked with counterparties within a portfolio of troubled loans to negotiate complex settlements, including bulk, Full & Final, and individual loans. Assembled a high performing team with expertise in process design, project management, data mining / analysis, exceptions remediation and reporting.

• Successfully maximized recovery efforts for over $1.2B in mortgage insurance coverage rescissions and claim denials.
• Developed a tailored request process, tracking process, and database for managing workflow, leveraging a newly-formed Global Data Reconciliation team. Designed a system to provide insight into claim status to minimize confusion.

Senior Vice President, Strategic Partnerships
2007 - 2010

Directed the efforts of 20 IT and business team members in domestic and offshore offices engaged in compliance, systems administration, and reporting. Served as the subject matter expert for the company's custom SaaS National Title Platform.

• Consolidated providers and renegotiated price points to achieve over $50M in annual reductions in borrower costs for title and settlement services.
• Launched a technology-centered business that generated $12M in first-year revenue.
• Leveraged the development of automated tools for loan application data entry, improving efficiency by 75%. Additionally, lowered order turn times by 27% by refining IT system parameters.
• Innovated pricing compliance processes and an executive reporting suite to achieve 91% compliance between contracted and actual fees.
• Streamlined the contract approval process to expedite execution cycles by 33% and improve KPI visibility.

Senior Vice President, Collateral Analytics Group
2003 - 2007

Successfully re-engineered systems, infrastructure, and operations to meet the needs of a growing organization, overseeing 22 domestic and offshore business and IT team members.

• Developed and launched a new program, establishing a $1B pipeline of loans in less than nine months.
• Skyrocketed revenue by 200% to $18M by expanding and enhancing online product offerings.
• Negotiated prices on higher volumes with Fannie Mae, Freddie Mac, and other business partners, lowering expenses by 39% and translating to $3M in annual savings.
• Served as the product owner of the Automated Valuation Model (AVM) and third-party AVM waterfall suite. Improved model performance from 9th place to 1st place in the market.

First Vice President, Internet
1999 - 2003

Directed 40 internal staff members, sourcing and supervising external providers and consultants. Incorporated online and offline operations to ensure front-end functionality integrated with company's backend process / systems.

• Increased profits by 120% after working to double home loan production to $150 million in monthly volume.
• Pioneered industry's first-ever online application to provide immediate loan approval, as well as data pre-population for existing customers.

President, Appraisal and Closing Services
RealEstate.com
1997 - 1999

• Directed operations for Internet portal providing e-commerce real estate services via B2B and B2C models, nationwide.

Aames Home Loan
Vice President, Loan Production
1996 - 1997

• Led staff of 100 to develop nationwide telemarketing division and loan-by-phone branch.

Vice President, Real Estate Owned (REO) Division
1993 - 1996

• Managed and sold REO assets on a nationwide basis. Maximized the return on funds lent.

Senior Consultant, Institutional Division
Real Estate Disposition Corporation
1990 - 1993

• Consulted clients holding in excess of $90MM in distressed real estate assets through loan workout, bankruptcy, foreclosure, and disposition.

Education

Indiana University - Kelley School of Business
MBA, Finance

UCLA
BS, Electrical Engineering