Keith Robinson and Frank Eve have reignited their partnership to start a specialist correspondent lender called Capital & Equity PLC.
The pair built and sold sub-prime correspondent lender National Guarantee to GMAC-RFC in 2006.
Before the global financial crisis correspondent lender was a common term for a firm that originates, processes and packages enquiries for funders that require origination.
Robinson, chairman and chief executive of Capital & Equity PLC, said: “We have identified that the time is right to create a specialist mortgage origination vehicle built around innovative systems, tight compliance and quality business.
“The specialist mortgage market has matured and the time is right to build a quality proposition.
“I am pleased that Frank is joining me as a non-executive director and shareholder to use his 30 years’ experience to assist with our planning and strategy.”
Birmingham-based Capital & Equity PLC will facilitate the lending of bridging, buy-to-let, development and exit finance.
It has already started to originate loans and plans on building relationships with more lenders in the next six months.
Eve said: “It’s great to be involved with Keith in mortgage origination again and I am looking forward to the challenges ahead as we use our joint experience to drive business development in a new and exciting specialist mortgage environment.”
Robinson is well known to the mortgage industry.
He was trained as an accountant and became the founding director of National Guarantee in 1996.
He built the company as a packager and developed the correspondent origination model before launching a direct to the public mortgage operation based on marketing and lead generation.
GMAC-RFC bought the company, which was producing in excess of £400m of lending per annum and employing 160 staff. It purchased 40% in 2004 and the remaining 60% in 2006.
Robinson formed Capital & Equity PLC after researching the specialist mortgage market, identifying opportunities and testing profitable lead generation models.
Frank Eve has 30 years’ experience in the financial services industry.
He was a founding director of Mortgage Trust in 1986, the lender that launched a number of innovative mortgage products in the 1990s.
Eve stayed with the company until it floated on the London Stock Market as First Active Plc in 1998.
Then he launched one of the first e-commerce mortgage companies before selling it to e-Loan Ltd, a joint venture between e-Loan Inc and News International.
Eve founded Frank Eve Consulting Limited in 2002, with many of his clients being national mortgage lenders, large networks and mortgage clubs.
He joined National Guarantee in 2002 where he became a shareholder and director responsible for business planning and remained until it was sold to GMAC-RFC in 2004.
He then became a founding director and shareholder Screen Business Ltd, an Internet development company, which was sold to Avelo (now IRESS) in 2011.
Since then he has been assisting the managing director at BEP Systems Group and enjoying semi-retirement.