Texas Capital Bank announced that Gary Ort, who has played an integral role in the bank for the past decade and currently serves as President of the Mortgage Finance Division, will retire in June.
Jack Nunnery, currently serving as Director of Correspondent Lending, will take over as President of the Mortgage Finance Division.
“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,” said Keith Cargill, President and CEO of Texas Capital Bank, adding that “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.”
Nunnery oversaw Texas Capital Banks’ correspondent lending division, which launched in 2016 and has held roles in counterparty risk management, mortgage technology, underwriting, post production, and the secondary market.
“Gary Ort has made a significant impact on Texas Capital Bank,” Nunnery said. “I am honored to take over the Mortgage Finance business and build on his success.”
Ort helped grow Texas Capital’s mortgage warehouse unit, launched the bank’s correspondent lending business, and expanded the bank’s lender offerings to include credit lines secured by mortgage servicing rights.
“Gary has been a key architect in the growth and success of Texas Capital Bank,” Cargill said. “We owe him a tremendous amount of gratitude.”
Texas Capital’s Texas President and Chief Lending Officer, Vince Ackerson said, “Our mortgage operation has achieved remarkable milestones thanks to Gary Ort. With Jack Nunnery at the helm, we expect Texas Capital Bank to show sustained leadership in this market.”
Ort himself said with the announcement of his retirement, “I’ve been privileged to be with an organization like Texas Capital Bank, which deeply values entrepreneurial thinking. We’ve built a robust mortgage finance business, and I can’t think of a better person to grow it than Jack Nunnery."