ROBERT SULLIVAN WAS ONE OF MANY DOT-COM EXECUTIVES WHO moved on after the dot-com bust. Unlike many who had trouble finding their next job and had to jump into unrelated fields, Sullivan used his mortgage tech experience, as president and chief executive officer at Openclose.com, to find his next job in the same industry. But this time, instead of being with a technology company, he is in the mortgage banking business itself. In October, Ann Arbor, Michigan--based ABN AMRO Mortgage Group Inc. (AAMG), the nation's fifth-largest loan originator and seventh-largest loan servicer, hired Sullivan as vice president and group manager of its newly formed One-Fee Services (OFS) division.
"The transition from Openclose.com to ABN AMRO has allowed me to leverage both my experience in mortgage banking and finance-related technology," says Sullivan. "I can now say that after 120 days with ABN AMRO, that I have found the organization, the opportunity and the project to realize all my career goals."
Sullivan is leading AAMG's OFS division in pioneering the emerging industry of providing consumers one upfront, comprehensive, guaranteed settlement package price. According to William Newman, AAMG's executive vice president and chief administrative officer, OFS will "provide a low-cost, efficient internal fulfillment process to its vendors."
"OFS significantly impacts both the business-to-business and the technology aspects of mortgage origination, allowing us to offer a more efficient and effective process to our customers [and vendors]," says Sullivan. He acknowledges that OFS has a competitive advantage because as far as he knows no other company currently is giving customers a single "packaged" price.
Under Sullivan's leadership, his team is effectively bundling a variety of services together, and the simplification is winning over customers by guaranteeing the price for the package early in the shopping process.
"I have been lucky enough to work with very talented people whose focus has been to further our industry through a process of...