Texas Capital Bank has announced that Gary Ort, president of its mortgage finance division, will retire at the end of June. He will be succeeded by Jack Nunnery, the bank’s director of correspondent lending.
“Gary has been a key architect in the growth and success of Texas Capital Bank,” said Keith Cargill, the company's president and CEO. “We owe him a tremendous amount of gratitude.”
“Jack Nunnery has been at Gary’s side the whole way and brings to the role not only a deep knowledge of the business and its past but also a clear vision for its future,” Cargill added. “And both Gary and Jack understand the important role our clients have played in our success, and how Texas Capital Bank wouldn’t be here without them.”
“I’ve been privileged to be with an organization like Texas Capital Bank, which deeply values entrepreneurial thinking,” Ort said of his time with the company. “We’ve built a robust mortgage finance business, and I can’t think of a better person to grow it than Jack Nunnery.”
Ort, who has been with Texas Capital since 2008, presided over the company's newly launched correspondent lending business and expanded its credit offering to lenders to include lines of credit secured by mortgage servicing rights. During his tenure, the bank built its mortgage warehouse unit into one of the largest national providers of mortgage warehouse credit facilities.
“Our mortgage operation has achieved remarkable milestones thanks to Gary Ort,” said Vince Ackerson, the bank’s Texas president and chief lending officer. “With Jack Nunnery at the helm, we expect Texas Capital Bank to show sustained leadership in this market.”
Nunnery (pictured) has held a variety of roles in the mortgage industry, including counterparty risk management, mortgage technology, underwriting, post production and secondary marketing. He joined the bank in 2009 and oversaw the creation of its correspondent lending business. Prior to joining Texas Capital Bank, he held positions with Stewart Lender Services and JP Morgan Chase.
“Gary Ort has made a significant impact on Texas Capital Bank,” said Nunnery. “I am honored to take over the Mortgage Finance business and build on his success.”