Background and qualifications

Steve Borgerson is uniquely qualified to provide Lending Deficiency & Remediation, and general lending consultation services. Over the span of a 35-year lending and banking career he developed an expertise in Loan Origination, Loan Servicing, Loan Compliance, Budgeting, Risk, and Deficiency Remediation. His banking and lending career began in 1987, when just out of college, joined Bank of Boston in the position of Residential Lending Loan Officer. His first management position came in 1992 when he accepted a position as Inside Sales Manager at a local community bank, a position that led additional management responsibilities that included the management of the bank’s Call Center, and the position of Residential Lending Sales Manager. Steve graduated to senior management after accepting the position of Vice President and Senior Lender at a small community bank located in Dorchester, Massachusetts. In this position, he was responsible for all lending functions of the Bank including residential and commercial loan origination, home equity and consumer loan origination, and loan serving. Since accepting that position in 2011, he has held similar positions at multiple institutions. At each stop along his career path, he has reduced regulatory and compliance violations, improved efficiencies, and reduced unnecessary expenses, all the while, focusing on customer service. 

Early on in his career, Steve showed an aptitude for compliance, and over the years, as his responsibilities increased, he developed an expertise in that area. He used his expertise in compliance to enhance and improve lending operations and efficiencies. Steve never believed, as many Sales Managers or Lending Managers do, that compliance was a burden. He always understood the reason why the regulations were implemented, and he understood their purposes. He used this knowledge and incorporated it into all his procedures and workflow. His goal was to ensure that the department was operating in compliance, and that while doing so the workflow and work product were not negatively impacted. His efforts were rewarded with satisfactory final reports for every Regulatory Exam and Third-Party Compliance Audit that his departments underwent. 

While there are many senior managers and lending consultants with similar resumes, one aspect of Steve’s is somewhat unique: his ability to identify and remediate lending deficiencies on his own. This skill set was developed not from managerial experiences, but from his hands-on experience. His approach wasn’t a “big picture” view from the clouds, but one deep “in the weeds.” He developed this talent as a result of having spent most of his senior management experience at very small institutions, most with fewer than 30 employees, and whose servicing teams consisted of just a couple of people. This fact meant that when he was faced with a weakness or deficiency, he had to resolve it himself. He had to dig deep into the loan documents and the system settings, and understand the product set ups and mapping. To ensure that loans were being serviced and originated correctly, he had to understand every data field in both systems.

He already knew the regulations and requirements to originate and service loans, and his intimate knowledge of the system settings, loan documents, and reporting, were his means to identify and correct deficiencies. 

You can read more about our consultation services and unique methods in the Our Approach section of this website.