David Abrahamson Returns to Equity Prime Mortgage as Chief Risk Officer, Bringing Decades of Industry Expertise

Equity Prime Mortgage (EPM), a prominent player in the mortgage lending sector, announced on Tuesday the appointment of David Abrahamson as its new Chief Risk Officer (CRO). This strategic move brings back a seasoned mortgage industry veteran who previously contributed to EPM's growth and development for a decade, from 2010 to 2020. During Abrahamson's initial tenure, EPM underwent a significant transformation, evolving from a "primarily retail, refinance-focused organization" into a more diversified mortgage company. This expansion included the establishment and growth of a robust branch model and the development of a substantial wholesale channel. Today, EPM operates exclusively as a wholesale lender, a testament to the strategic shifts that occurred during Abrahamson's prior involvement.

Based at the company's Atlanta headquarters, Abrahamson will assume a pivotal role, working collaboratively with EPM's executive leadership, credit, operations, compliance, and underwriting teams. His extensive background spans approximately 40 years within the mortgage industry, encompassing critical areas such as risk management, operational efficiency, credit assessment, and sales strategy. Abrahamson expressed his strong connection to EPM, describing it as his "home base" and indicating that his return felt like the "right move at the right time." He acknowledged the substantial changes the company has undergone but emphasized that the core relationships, the overarching vision, and the potential for making a meaningful impact remain intact.

In his capacity as CRO, Abrahamson will be tasked with overseeing and strengthening EPM's comprehensive risk management framework. This includes a keen focus on credit policies, underwriting standards, adherence to regulatory compliance, and managing relationships with investors. He underscored the critical importance of robust risk management in meeting the stringent expectations of various regulatory bodies and financial partners. Abrahamson specifically mentioned key entities such as the U.S. Department of Housing and Urban Development (HUD), Fannie Mae, Freddie Mac, the Consumer Financial Protection Bureau (CFPB), state-level regulators, and capital markets partners. His mandate involves a thorough assessment of EPM's current risk posture, the identification of areas requiring enhancement, and the implementation of processes and accountability measures designed to foster sustained long-term success.

EPM Founder and CEO Eddy G. Perez Jr. highlighted Abrahamson's deep understanding of the company as a key factor in his selection. Perez stated, "David understands EPM because he helped build EPM." This sentiment underscores Abrahamson's intimate knowledge of EPM's historical trajectory, its internal culture and personnel, and the specific requirements of effective risk management within the organization. His return is viewed as a significant asset, bringing invaluable experience and institutional knowledge to a critical leadership position.