Mortgage industry pioneer Richard Solheim passes away at 68

Spent 47 years in the mortgage business, last 11 with LenderLive

Richard Solheim, who spent more than 47 years in the mortgage business, passed away recently at the age of 68.

Solheim spent the last 11 years of his career with LenderLive, where he most recently served as chief administrative officer. In this role, Solheim was responsible for human resources, training, compliance and risk management.

“Dick Solheim was an amazing man, remarkable leader and a significant contributor to the mortgage industry,” LenderLive said in a statement provided to HousingWire.

“Dick led an amazing career in mortgage banking for more than 47 years. He lived through many mortgage cycles and was responsible for leading some of the largest mortgage companies in America,” LenderLive continued.

“His knowledge of the industry and passion for LenderLive’s vision and mission was immense,” the company added. “He will be greatly missed by everyone at LenderLive and all who knew him personally.”

Earlier in his career, Solheim served as chief executive officer of Security Pacific Mortgage and Mellon Mortgage. While at Mellon Mortgage, Solheim led the company’s growth to become a top ten servicer in the nation.

According to information provided by LenderLive, Solheim spent 13 years in the mortgage banking segment with Security Pacific and then with Mellon Mortgage.

Solheim also worked for GE in its early stages of building a settlement services company and also started and sold his own post-closing business during his career.

Additionally, Solheim served the Mortgage Bankers Association and the former Savings and Loan Leagues in various committee roles. Solheim had recently served as a member of the MBA Legislative Committee.

Solheim also served as tirelessly as a member of the Colorado Mortgage Lenders Association.

At Solheim’s memorial service, which was held earlier this week, Solhiem’s work with the CMLA was heralded. Here is part of the CMLA’s remarks about Solheim:

“He brought to the association an outstanding level of professionalism with a focus on sound fiscal discipline, strategic thinking, and a culture of business management from his experience in large financial organizations, but always with that kind gentle and open way that was so much a part of his persona.

“Dick was a visionary, working with industry leadership and our general counsel Paul Frank, he was instrumental in changing the governance structure a CMLA with the creation of a Board of Governors that will help to guide us through the next decades in the areas of industry direction, public service, education and policy always with the keen eye on sound fiscal management.

“Dick just concluded his term as Chairman of the Board of Governors at our convention last August and was awarded the Debra Still Chairman’s award in grateful appreciation for his service. All of us in the board of governors would agree that he more than any other was instrumental in putting the association on a sound financial footing.”

But Solheim was much more than just his career.

“Family was most important thing to him,” Kim Starley, a long-time friend and business associate of Solheim told HousingWire. “He was married for nearly 48 years.

“Everyone who knew him would tell you he was a humble and unassuming guy,” Starley added. “He gave tirelessly of himself in support of others. He leaves a big hole in our company. We are all very sad.”

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