Summary
Overview
Work History
Education
Certification
Timeline
Generic

W. MASON CROFT

Hendersonville,TN

Summary

  • VP of Auto & Consumer Lending
  • Director of Lending Operations
  • VP Sales Driving Strategy, Revenue and Growth or Operations in the Financial Services Industry Professional Profile: Sales Leadership and Business Development: Demonstrated exceptional expertise in new market identification and development by launching indirect Auto Finance operations in multiple regions, building strong dealer relationships, and adapting to local needs. Successfully led strategic sales initiatives by developing innovative programs tailored to dealer challenges, resulting in increased business volume and loyalty. Underwrote & generated loans totaling hundreds of millions of dollars throughout my career. Additionally, grew dealer networks significantly, signing over 350 dealers at Meridian Buyers Group and driving business growth from $0 to $14 million. Specialty Finance: Extensive Specialty Finance start-up expertise. Successfully established two auto finance companies from the ground up. For Mercury Finance Company, launched a finance branch in Hattiesburg, MS, conducting market analysis, securing staff, and growing the business to $3.5 million. Multiple promotions culminating in the Regional Credit manager overseeing a $50 million portfolio and managing 8 sales reps, and 14 underwriting and funding staff. Account Management: Over a 20-year career as a Sales Leader specializing in Auto Financing Services. Developed a dynamic pricing matrix for sub-prime auto loans, improving credit quality and reducing net loss rates to a 16-year average of 5.8%. Established strategic partnerships, increasing per-contract revenue by 12%, and optimized risk management, maintaining a sub-8% repo frequency rate. Conducted investor presentations, helped secure initial bank funding, and raised Capital of $1.5 million in Series A Investors and $2.5 million in Sub-debt growing company to a $14 million portfolio. Advanced to roles including Regional Supervisor, Vice President of Retail Lending, and President / Founder of MBG.

Overview

17
17
years of professional experience
1
1
Certification

Work History

Sales Leader / Founder

Meridian Buyers Group, LLC
Nashville, TN
01.2008 - Current

SALES LEADERSHIP / ACCOUNT MANAGEMENT

  • DEVELOPMENT
  • New Market Identification & Development at MFN, MBG: Tasked with being the first employee in MFN history to start indirect auto finance in Tupelo and then Hattiesburg, MS
  • Demonstrated persistent resilience in educating dealers on Sub-Prime Discount lending which was completely foreign to them by gaining trust and evaluating lost business opportunities
  • Results: Recognized for leadership via future positions as Regional Supervisor, Regional Credit & Sales Manager, and then ultimately as President and Founder of MBG
  • Client/Dealer Growth and Development MFN, Regions, MBG: Visited thousands of dealers and gave in-person presentations across the Central, Midwest, and Southeastern US
  • Adapted to all types of cultures and personalities
  • Urban, Rural, Franchise, Independent
  • Built relationships with Owners and CEOs, GMs, Sales Managers, Salesmen, Title clerks, and bookkeepers
  • Results: At MBG signed over 350 dealers, and at our peak, had 100 dealers submitting applications per month
  • Portfolio growth of $6 million to $14 million from 2016 to 2018
  • Account Relationship Management at MFN, MBG: Developed new dealer relationships, fostered existing relationships by listening to their needs, balanced negotiations, and coached them on the best ways to get more approvals, contracts, and sales
  • Results: Increased market share & increased competitive differentiation
  • Strategic Sales at MFN, MBG: Targeted, analyzed, and found creative ways to adapt to certain dealer's unique needs by thinking outside the box for ways to increase their business
  • Created A Fund-As-They-Pay Program in MS, a Retail Repo Sale Program in Nashville, and developed a new pricing and deal structure program for top-tier dealers
  • Results: Produced better quality clients, increased dealer loyalty, business volume, reduced losses, and enhanced relationships
  • Strategic Client Identification and Analysis at MFN, MBG: Targeted specific dealers based on location, inventory, quality of dealership and analyzed competition
  • Met with staff to determine their knowledge, sales approach, ethics, and if they would be a good fit as a dealership partner
  • The outcome would be one of two results: pursue the relationship further or decline them as a dealer
  • Results: This produced better quality customers, generated increased dealer loyalty, new business volume, reduced losses, and enhanced relationships
  • Sales Presentations at MFN, Regions Bank, MBG: At MFN and MBG presented indirect lending programs and details to key decision makers at Auto Dealers, Sales Financing Vendors, or direct loan customers
  • At Regions Bank, a $84B Bank at the time, visited local Branch and Regional Market Managers in the Southeast and Central US Markets to discuss Consumer Retail lending programs and new bank initiatives
  • Results: Productive dealerships generated $10,000 to $80,000 in contracts per month, while underperforming dealerships were identified and removed from the call list, resulting in significant time and cost savings
  • SPECIALTY FINANCE
  • Asset Based Loan Administration at MBG: As Senior Secured Debt Compliance and Covenant Monitor, helped Secure initial $7.5 mil LOC with 1st TN with in-person Investor Presentation program and business plan
  • Credit line secured by our notes and personal guarantees
  • Dealt with the bank's ABL group, updated, monitored, and provided monthly Borrowing Base compliance spreadsheet, Collateral Adjustment ratio spreadsheet, Leverage, Interest coverage and Loan Loss ratio covenants, and other reports every month
  • Indirect & Direct Consumer & Retail Lending at MFN, Regions, MBG: Home Equity Installment loans & Revolving Lines of Credit, Unsecured, indirect sales finance / soft goods, indirect auto, discount portfolio purchase, home equity, marine, RV, Specialty indirect auto programs
  • Prime, non-prime, and subprime lending
  • Stock secured
  • Raw Land/Agriculture MBP program
  • Unique niche program to allow new bankrupt customers to get a car while we are protected
  • Using: Retail Purchase Contract-Auto-Section1305 Post Petition Purchase
  • Loan Origination at MFN & MBG: Conduct cold calls, and routine follow-up in-person visits to dealer clients in multiple cities
  • Encouraged, coached, and incentivized dealers to understand our program, and send more contracts
  • Grew the company from $0 to a peak of $14 million and over 2,000 accounts
  • Credit Underwriting: Created Credit scoring model/ buy box matrix
  • Experienced in many types of lending products
  • Reviewed multiple credit bureaus, skip trace reports, customer interviews, financial reviews, employment and residence verification
  • Account Servicing at MFN, MBG: Familiar with multiple servicing software, created collection queues, account priority scores, automated letters, texts, and follow-ups
  • Auto payments
  • Collection teams and competition
  • Various departments for Repossessions, titles, Ancillary product refunds, cancelations etc
  • Contract Negotiation at MFN, Regions, MBG: Extremely skilled at credit underwriting negotiation, with dealers, internal sales reps, and bank employees
  • Explained rationale on decision and pricing and left option open for things to change if new information was brought to light
  • Negotiated multiple vendor contracts and terms
  • Negotiated Pay plans, severance packages, and bonus/incentive plans
  • Loan Funding at MFN, Regions, MBG: Oversee funding department, streamlined & documented step-by-step process, created flexibility boundary parameters on certain criteria
  • Created Regional Funding teams
  • Acted as a middleman between credit buyers, Sales Representatives, and Dealers.

Vice President Retail Lending

Regions Financial
Nashville, TN

Branch Manager, Sales Director, Regional Director

Mercury Finance Co. Midwest
South

Dealer

  • Client growth at MBG, MFN: Started company from scratch, signed up over 350 dealers in two states and multiple cities
  • Grew to over 2,000 accounts and $14 million from inception
  • At MFN, developed and oversaw dealer business development from the Midwest to the Deep South
  • Adapted to multiple different cultures and business climates
  • Credit/pricing Matrix Creation for at MBG: Created a pricing matrix model for sub-prime auto credit applications - the X & Y axis of Income and FICO score
  • The intersecting box determines the pricing structure
  • Annually conducted a deep data analysis of credit performance and refined the model accordingly
  • Designed and delivered structured employee training & underwriting consistency
  • Results were a historical net loss rate of 5.8%, Migrated Fico from a 550 average in 2008 - 2018 to 590 range by 2023
  • Strategic Partnerships at MBG: Established a vendor partnership with Rt 66 Warranty for our private Warranty/Gap product
  • This product added more efficient control of premium transfers, tracking & profitability
  • Results: Warranties Increased revenue per contract by 12% / $698 when implemented in 2019
  • Risk Management at MBG, Regions, MFN: Reviewed credit approvals, declines, funded contracts, collection activity for compliance, and coach employees
  • Reviewed pricing criteria to match credit risk and matrix modification
  • Generate consistent positive results in profitability, top-tier delinquency, and employee development and promotions
  • Results: Consistently averaged sub 8.0% repo frequency rate over last 16 years
  • At Regions, oversaw production of 30,000 credit applications per month and $500 Million in new loan originations from 22 Branches.

Customer Service

MBG
  • Regions, MFN: Fostered a customer-centric environment focused on respect, empathy, active listening, and open communications, ensuring all customers are treated with dignity and care
  • This resulted in years of quality relationships with customers, dealers, branches, and vendors
  • Career historical track record of sub 3.0% 60's+ delinquency
  • Results: Recognized for performance with 3 promotions at Regions Bank & multiple promotions at MFN
  • Pricing and Sales Analysis at MFN, MBG: Regularly reviewed dealer delinquency, credit quality, book-to-look ratios, and deal structure
  • Created sales plan to review results, coach up, and tweak program as necessary
  • Results included improved book-to-look ratios from < 5% to up to 20%, cutting front-end credit underwriting costs by up to 50%, and improved dealer relationship and profitability
  • Financial Analysis at MFN, MBG: Reviewed monthly financial statements, as well as updated, tracked and analyzed bank covenants
  • Reviewed reports such as Leverage Ratio, Interest Coverage Ratio, Loan Loss Reserve Ratio, Borrowing Base compilation, Collateral Adjustment Ratio
  • Results: Analyzed each report monthly, updated projections and adjusted operations when needed
  • Pricing optimization at MFN, MBG: Analyzed dealer negotiations to assess competitive practices, reviewed portfolio performance and covenant ratios, and adjusted pricing strategies to enhance volume, profitability, and compliance
  • Employee Training, Development & Empowerment at MFN, Regions, MBG: “Leave the ego at home”
  • The best use of your time is to help coach an employee and empower employees to find the answer on their own
  • But most of all, discussed the logical thought process they need to go through in their decision-making
  • Coach them on determining priorities when they have multiple tasks to do with varying urgencies
  • All of this resulted in extremely loyal employees, very low turnover, promotions, and great working relationships
  • Organization Structure, Process Flow Optimization, and improvement at MFN, MBG: Created several training manuals for servicing, credit underwriting, repossessions, title procurement, sales calls, etc
  • Listed step-by-step process instructions for the proper procedure
  • Engaged with employees one-on-one and in team meetings to discuss each process, gray areas, and a logical process procedure to make thoughtful decisions.

Education

B.S - Economics

University of Illinois Urbana, D1 College Soccer

Specialist, Investment Evaluation and Auto Lending Products -

Certification

  • Sales Leadership- Auto Loans Business Development Business Operations
  • Sales Management
  • Account Relationship Management
  • Corporate Strategy
  • Partner Management
  • New Market Development
  • Turnover Management
  • Loan Origination
  • Pricing Analysis
  • Startup Management
  • Strategic Account Management
  • Specialty Loans
  • Contract Negotiation
  • Customer Service
  • Dealer Management
  • Debt Compliance & Governance
  • Market Expansion
  • Turn Around Management
  • P&L Management
  • Adversity Management
  • Product Development
  • Small Business Development

Timeline

Sales Leader / Founder

Meridian Buyers Group, LLC
01.2008 - Current

SALES LEADERSHIP / ACCOUNT MANAGEMENT

Vice President Retail Lending

Regions Financial

Branch Manager, Sales Director, Regional Director

Mercury Finance Co. Midwest

Dealer

Customer Service

MBG

B.S - Economics

University of Illinois Urbana, D1 College Soccer

Specialist, Investment Evaluation and Auto Lending Products -

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W. MASON CROFT