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CIVIC Hires William J. Tessar as CEO

CIVIC Financial Services announced the hiring of William J. Tessar as its new president and CEO. Tessar most recently worked with Skyline Financial Company.

Tessar brings over 30 years of experience to CIVIC, and has founded and served as President of three lending companies. Prior to CIVIC, he founded and served as President at three lending companies. Capital Line, one of his companies, was recognized as a top originating brokerage in the state of California. In 2007, Capital Line merged with Skyline Home Loans, and Tessar was named President of Retail Lending. In his 10 years at Skyline, he scaled the organization from a retail mortgage company funding $40M per month into a multi-channel originator with $3.5B funded annually.

In making the decision to join CIVIC, Tessar says “the combination of Wedgewood’s vertically-integrated fix and flip business and HMC’s prowess in non-performing loan acquisition makes CIVIC the biggest mortgage opportunity I’ve seen in the last 30 years of lending. CIVIC has access to some of the lowest cost of capital in the industry due to the fact that we de-lever risk in a unique, proprietary way while being best-in-class on valuation as well as a market leader in default resolution.”

About Author: Seth Welborn

Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.

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