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Management Biographies
E. Patrick Cutler (Pat), President
Following his graduation from the University of South Carolina in
1976, Pat began his mortgage banking career as an originator for
Fleet Real Estate Funding. He became a branch manager in 1978,
and joined the Fleet Capital Markets team in 1980. Soon after, he
was promoted to Senior Vice President, with responsibility for all
secondary marketing functions including pricing, interest rate risk
management, investor relations, securitization and production
support. Pat established Fleet’s Correspondent Lending Program
in 1982, which became one of the nation’s largest buyers of
servicing-released whole loans.
E. Patrick Cutler (Pat), President
Following his graduation from the University of South Carolina in
1976, Pat began his mortgage banking career as an originator for
Fleet Real Estate Funding. He became a branch manager in 1978,
and joined the Fleet Capital Markets team in 1980. Soon after, he
was promoted to Senior Vice President, with responsibility for all
secondary marketing functions including pricing, interest rate risk
management, investor relations, securitization and production
support. Pat established Fleet’s Correspondent Lending Program
in 1982, which became one of the nation’s largest buyers of
servicing-released whole loans.
| 5111 Trenholm Road | Suite 220 | Columbia, SC 29206 | 803.461.0168 |
Pat was named Director of Capital Markets in 1992, for both Fleet Real Estate Funding and Fleet
Mortgage, and was responsible for integrating the two divisions. Over the next several years, he
led the secondary marketing and risk management team that successfully acquired and merged
Security Pacific, Plaza Mortgage and others into the Fleet family.
In 1998, Pat was appointed Executive Vice President for Fleet Mortgage Capital Markets and Risk
Management divisions. During this time, he negotiated and managed the Fannie Mae Partnership
Agreement, expanded Fleet Bank's portfolio product line, and implemented an innovative Capital
Markets employee mentoring and training program. Pat was also responsible for Fleet Mortgage's
Credit Policy, Quality Control, and Legal divisions, and directed multiple corporate re-engineering
efforts, including a major corporate-wide systems upgrade.
Opting to stay in Columbia, South Carolina, Pat left the Fleet organization in 2002 following a
successful merger between Fleet Mortgage and Washington Mutual Home Loans. Shortly
afterward he brought together a group of former Fleet and Washington Mutual senior managers to
consult for a national cooperative of mortgage lenders. Their work included developing capital
markets and risk management business models, negotiating investor affinity agreements and
co-issue servicing takeouts, managing product development efforts, and providing management
advisory services for individual member lenders.
In 2003, Pat accepted the position of Mortgage Director for First Citizens Bank, a $5 billion bank
headquartered in South Carolina, where he was responsible for all residential lending, including
production, operations, capital markets, and servicing. During his tenure at First Citizens, Pat built
and staffed a best practices mortgage department, resulting in a substantial increase in gain on
sale income and 60% growth in retail mortgage production.
With 30 years of mortgage banking experience, Pat left First Citizens in 2006 to found Cutler
Consulting, Inc.
_____________________________________________________________________________
Following the merger of Fleet Mortgage and Washington Mutual Home loans, Margaret joined the
Correspondent Lending division in 2003, with responsibility for the division's monthly income and
expense reconciliation and reporting, the creation of monthly production reporting, correspondent
production planning and goals, and development of a special incentive plan to increase CRA
production. Margaret also worked with the Corporate Finance division to build an organizational
profitability model, and acted as the division's corporate HR liaison for a staff of 54.
In 2004, Margaret was appointed Assistant Vice President at First Citizens Bank in charge of
Production Strategy and Special Projects. In this position, Margaret was the mortgage division's
liaison for 165 retail bank branches, and was instrumental in the design and implementation of a
production strategy that resulted in a 60% increase in branch production. She designed and
launched a successful intranet site for residential lending, including the creation of online
calculators, product comparisons, and educational materials. She also designed mortgage lending
marketing and sales support materials and created a special lender recognition program. Margaret
also developed a comprehensive corporate training program, and delivered over 50 residential
mortgage training courses to corporate and branch employees. In addition to her production
duties, Margaret was extensively involved in daily secondary marketing activities, including pricing,
hedging, loan sales, investor relations, and product development.
Margaret joined Cutler Consulting, Inc. in 2008.
Mortgage, and was responsible for integrating the two divisions. Over the next several years, he
led the secondary marketing and risk management team that successfully acquired and merged
Security Pacific, Plaza Mortgage and others into the Fleet family.
In 1998, Pat was appointed Executive Vice President for Fleet Mortgage Capital Markets and Risk
Management divisions. During this time, he negotiated and managed the Fannie Mae Partnership
Agreement, expanded Fleet Bank's portfolio product line, and implemented an innovative Capital
Markets employee mentoring and training program. Pat was also responsible for Fleet Mortgage's
Credit Policy, Quality Control, and Legal divisions, and directed multiple corporate re-engineering
efforts, including a major corporate-wide systems upgrade.
Opting to stay in Columbia, South Carolina, Pat left the Fleet organization in 2002 following a
successful merger between Fleet Mortgage and Washington Mutual Home Loans. Shortly
afterward he brought together a group of former Fleet and Washington Mutual senior managers to
consult for a national cooperative of mortgage lenders. Their work included developing capital
markets and risk management business models, negotiating investor affinity agreements and
co-issue servicing takeouts, managing product development efforts, and providing management
advisory services for individual member lenders.
In 2003, Pat accepted the position of Mortgage Director for First Citizens Bank, a $5 billion bank
headquartered in South Carolina, where he was responsible for all residential lending, including
production, operations, capital markets, and servicing. During his tenure at First Citizens, Pat built
and staffed a best practices mortgage department, resulting in a substantial increase in gain on
sale income and 60% growth in retail mortgage production.
With 30 years of mortgage banking experience, Pat left First Citizens in 2006 to found Cutler
Consulting, Inc.
_____________________________________________________________________________
Following the merger of Fleet Mortgage and Washington Mutual Home loans, Margaret joined the
Correspondent Lending division in 2003, with responsibility for the division's monthly income and
expense reconciliation and reporting, the creation of monthly production reporting, correspondent
production planning and goals, and development of a special incentive plan to increase CRA
production. Margaret also worked with the Corporate Finance division to build an organizational
profitability model, and acted as the division's corporate HR liaison for a staff of 54.
In 2004, Margaret was appointed Assistant Vice President at First Citizens Bank in charge of
Production Strategy and Special Projects. In this position, Margaret was the mortgage division's
liaison for 165 retail bank branches, and was instrumental in the design and implementation of a
production strategy that resulted in a 60% increase in branch production. She designed and
launched a successful intranet site for residential lending, including the creation of online
calculators, product comparisons, and educational materials. She also designed mortgage lending
marketing and sales support materials and created a special lender recognition program. Margaret
also developed a comprehensive corporate training program, and delivered over 50 residential
mortgage training courses to corporate and branch employees. In addition to her production
duties, Margaret was extensively involved in daily secondary marketing activities, including pricing,
hedging, loan sales, investor relations, and product development.
Margaret joined Cutler Consulting, Inc. in 2008.
| Cutler Consulting, Inc. Strategic Mortgage Partners |
Margaret Ellis, Senior Consultant
Margaret is a cum laude graduate of Furman University, with a BS
in Computer Science and Mathematics. She entered the mortgage
banking industry in 1998, following a successful ten year career as
an engineer for E.I. DuPont de Nemours, Inc. After joining the
Capital Markets group at Fleet Mortgage, Margaret was given
responsibility for budget planning and reporting, research and
publication of a financial markets commentary for corporate wide
distribution, and special projects.
Margaret is a cum laude graduate of Furman University, with a BS
in Computer Science and Mathematics. She entered the mortgage
banking industry in 1998, following a successful ten year career as
an engineer for E.I. DuPont de Nemours, Inc. After joining the
Capital Markets group at Fleet Mortgage, Margaret was given
responsibility for budget planning and reporting, research and
publication of a financial markets commentary for corporate wide
distribution, and special projects.
