David Lykken, President
As the President and Founder of MBS, David Lykken has extensive expertise in virtually every phase of mortgage banking. His knowledge and skills comprise a unique blend of technology and business operations, stemming from his long experience in the industry. With a special focus on warehouse lines of credit, mortgage broker to mortgage banker, investor relations, mortgage broker licensing, bulk loan sales and secondary marketing, Dave is well known and respected consultant with a national reputation in the mortgage industry, and is a sought after speaker at seminars and on radio programs.
Business is in David's blood: he grew up in an entrepreneurial family, which owned and operated a large privately held business. As a young man, he absorbed the mid-west Minnesota work ethic with an ingrained commitment to quality. After gaining experience working in the mortgage industry, David founded two regional mortgage banking companies in Southern California, and was also a partner in a third national mortgage banking company headquartered in Irvine, California. Seeing an entrepreneurial opportunity outside the mortgage arena, Dave started a computerized loan origination system (CLO) software company in his garage that grew into a large national publicly traded company, ultimately capturing 23% market share.
David Lykken has an outstanding track record as a seasoned entrepreneur in both mortgage banking and technology. As a senior executive with broad experience in sales and finance, David has a demonstrated ability to build businesses from early stage start-ups to public companies. Over his 30-year career in the mortgage arena, David has forged trusted relationships with key figures in the industry, due to his personal integrity, character, and ethical business practices. When assisting MBS customers in realizing their business goals, David utilizes his unique combination of expertise and personal relationships to help catalyze a successful outcome.
Dave is married and has two daughters. Living in Austin, Texas, he is actively involved in his church and enjoys regular exercise, reading, motivational speaking, skiing, and working on improving his golf handicap. David received a bachelor's degree in music in 1973 from Pacific Lutheran University in Tacoma, Washington.
Kenney Hayes, Chief Operations Officer
Kenney Hayes has devoted over 35 years to the mortgage industry. Serving in an executive leadership capacity for better than 20 years has given her the opportunity to be on and around the “cutting edge” as the industry and its regulatory environment have evolved, promoting new and exciting ways to create business opportunities. Focused on teamwork, she believes that it’s not just enough for the right hand to know what the left hand is doing; the right hand needs to know what the left intends to do. Ms. Hayes has developed programs, methods, and organizational structures that support communication to keep production teams thriving. Relying on the motto of “what gets measured gets done,” Ms. Hayes has developed net branches on the West Coast and implemented new ideas for marketing strategies that supported the operational structure of the branches, thus ensuring a high degree of client retention and very satisfied customers. She has managed multi-state branch organizations, bringing together sales and service to produce strong profits. Together with a medium-sized Midwestern bank, Kenney was responsible for the development and implementation of joint venture relationships that blended mortgage operations with $1 billion-plus real estate companies in Oregon, Idaho, and Washington. Additionally, Ms. Hayes has worked with numerous banks to identify cross-selling opportunities for mortgage products that match the needs of their customers while highlighting the operational platform as the quality control point. As one of four remaining executive officers with a $5.5 billion thrift, Kenney helped lead a transition with the Resolution Trust Corporation (RTC). It was the only institution in that period that was allowed to continue lending during conservatorship. Less than a year after the takeover by the RTC, she helped lead the association through a buyout by Bank of America, where she continued as Senior Vice President in charge of mortgage lending. Kenney’s development of operational procedures, tactical deployment of the association’s sales team, and communication with the marketplace led to a 95.5% employee retention rate during conservatorship, and drove revenues from the sale and production of mortgage loans to the bottom line within 45 days of takeover by the RTC. While managing a multi-state operation, she maintained production, underwriting, quality control, servicing, and mortgage technology systems, delivering the most profitable purchase on record during the savings and loan debacle. So much so, this strategic plan of success has been written about in textbooks. During her first years in the Pacific Northwest, she implemented one of the first incentive commission plans for mortgage lending. It created an increase of 86% in annual production and a 48.9% increase in profitability. She recruited numerous top-producing originators and set up and managed offices in five states. In recent years as a consultant, she has created business and marketing plans for start-up companies, coached mortgage originators and net branches on how to improve efficiency, and worked with small mortgage companies that are positioning themselves for sale. To improve customer service and financial returns, she focuses on aligning an organization’s strategy, technology, and people. Ms. Hayes has co-authored two books and is known as an enthusiastic motivational speaker. She teaches finance classes in a rescue missions program. Remaining true to her first passion, she continues to write and record contemporary Christian music. She has been married 36 years. They reside near Seattle.
Dale Cline, Senior Consultant
Having experienced virtually all facets of mortgage lending during the past 20 years, Dale brings a valuable perspective to the MBS as a Senior Associate. Trained as an accountant, Dale first encountered the world of mortgages while working with Peat Marwick Mitchell & Company. As a lead auditor on the audit on one of the nations largest mortgage banks, he gained a very unique view of the financial and operational underpinnings of mortgage lending.
From public accounting to the private industry, in the mid '80s, Dale had the good fortune to join what would become one of the top three mortgage banks in the US just as the company was getting started. Responsible for establishing a well-controlled, high quality environment at the young company, he implemented the internal audit, quality control and broker/correspondent approval functions. Each of these functions ultimately fell under the umbrella of Portfolio Risk Management, which Dale led. Portfolio Risk Management also entailed an on-going examination of the performance of the mortgage product being originated and acquired by the company. As Vice Chairman of the Corporate Risk Management Committee, Dale's knowledge of mortgage processes and performance contributed to the company's credit and risk policy. In the early '90s, Dale's intimate understanding of the company, in particular, and the mortgage industry, in general, led him into a marketing role responsible for communicating with secondary market investors, rating agencies, Wall Street traders/salesman and insurers at about the underlying quality of the company's MBS product.
The entrepreneurial fever soon drove Dale to found a mortgage brokerage which, over the next ten years methodically grew into several states with a broad menu of products including A, Alt A, sub prime and FHA/VA. The company utilized state of the art technology tools to build efficiencies into the origination process.
With experiences ranging from auditing mortgage companies to risk management in a top tier mortgage bank to starting up a new mortgage brokerage, Dale brings to the MBS a true empathy for our clients and the challenges/opportunities facing them. Dale is located in our Charlotte, NC office. He is active in church activities and strives to spend as much time as possible with his wife, son and two daughters. He holds a BSBA degree with an emphasis in Accounting from the University of North Carolina at Chapel Hill and a MBA from the University of North Carolina at Charlotte. He continues to maintain his designation as a Certified Public Accountant.
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