Brian Benson, who served as the CEO of ClosingCorp from October 2013 until he left the company earlier this year, will be joining Whiteboard Mortgage Software to serve as the company’s president and chief operating officer, the company announced this week.
Benson’s unexpected departure from ClosingCorp was announced in April of this year.
In December 2015, HousingWire Magazine named Benson as one of the inaugural winners of the Vanguard Award, given to the leading executives in the housing industry.
At the time, Benson told HousingWire Magazine that he expected the company’s revenue to double in 2016 and again in 2017, due to the company’s ability to deal with governmental regulations, especially the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures Rule.
And that’s just what the company did; growing by 396% in three years, according to data provided Whiteboard.
But the company’s growth led to Benson’s departure, as the company's board apparently felt that Benson was no longer the right person to lead the company.
“Given the company’s significant growth — growing by approximately 90% — the board decided that ClosingCorp needs a more seasoned CEO with experience in a high-growth technology environment,” the company said in a statement in April.
“As chief executive officer, Brian and his team helped position the company to prosper going forward,” the company continued. “We thank Brian for his significant contributions to ClosingCorp.”
Shortly after his departure from ClosingCorp, Benson told HousingWire that he was “extremely grateful” for the opportunity to lead the company.
“Under my leadership, we swiftly and effectively retooled the people, processes and infrastructure of a fledgling startup from which emerged an automated and highly-disciplined organization who was able to build and land hallmark clients and partnerships, provide market leadership in navigating one of the most difficult regulatory arenas in memory,” Benson said.
“We enjoyed three straight years of rapid growth during my tenure, quadrupling revenues and tripling our client base, and becoming generally accepted as the de facto source for TILA-RESPA Integrated Disclosure fee solutions,” Benson continued.
“ClosingCorp was well-known inside and outside the company for having an amazing, collaborative culture. Our results are well-known in the industry, and speak for themselves,” Benson said.
“While our revenues continued to grow and perform to plan in 2016, the industry is still in transition six months past the TRID implementation date,” Benson said in April.
“I actually empathize with Mr. Encrantz and the ClosingCorp ownership group – though industry outsiders, they have been mostly supportive,” Benson added. “Unfortunately, as my peers in mortgage technology well know, this is a time when the whole industry continues to limp along, much though we would like it not to. I remain a huge fan of ClosingCorp and in my advisory role on the Board will be helping to recruit my replacement and will continue to work hard to make ClosingCorp successful.”
Prior to serving as CEO of ClosingCorp, Benson spent 16 years with CoreLogic.
Now, Benson is joining Whiteboard, a provider of mortgage professional productivity and client relationship software.
“Whiteboard is thrilled to have someone of Brian's caliber join the business at this very exciting stage of our evolution,” said Brian Bomar, Whiteboard’s chairman.
“As Whiteboard continues to rethink and enhance the way that our industry interacts with consumers, and builds their knowledge and trust, it is important to have someone with the vision, technical pedigree, and proven leadership skills to help us deliver on our value promise to our clients – both now and in the future,” Bomar added.
“I'm exhilarated to be joining Whiteboard," Benson this week.
“The company has created a unique solution that has masterfully innovated one of the most important components of the mortgage industry, and the business is growing quickly,” Benson continued.
“It has never been more important for mortgage professionals to create great and lasting experiences for consumers, and Whiteboard, in a very simple and elegant way, is doing things the old-school CRM's can only dream of doing,” Benson concluded. “The opportunity to fully leverage those capabilities, and to lead such a talented, knowledgeable and successful team, is very exciting.”
