Atlantic Bay Taps Veteran Exec as CRO to Drive Growth in a Volatile Market

VIRGINIA BEACH, Va. – April 01, 2026 – Atlantic Bay Mortgage Group has appointed veteran mortgage banking executive Gregory S. Richardson as its new Chief Revenue Officer, a strategic move signaling the company’s intent to aggressively pursue growth and enhance its competitive position in a complex housing market. Richardson, who brings more than 35 years of industry leadership, will be responsible for leading the firm’s enterprise revenue strategy, aligning production, capital markets, product development, and institutional investor relationships.

His appointment comes as the Virginia Beach-based lender, which closed approximately $3.5 billion in volume over the past year, aims to navigate a landscape defined by fluctuating interest rates, tight margins, and evolving regulations. In his new role, Richardson is tasked with overseeing secondary marketing, pricing strategy, and pipeline hedging—functions that are critical for profitability and stability in today's market.

"Greg is a highly respected leader in mortgage banking and capital markets, and we are excited to welcome him to Atlantic Bay," said Brian Holland, Founder and Chief Executive Officer of Atlantic Bay Mortgage Group, in a statement. "His deep experience managing large mortgage portfolios, leading capital markets teams, and building strong relationships with institutional investors will play an important role as we continue expanding our production platform and delivering disciplined growth across the organization."

A Strategic Hire for a Shifting Market

Richardson’s appointment is particularly significant given the current state of the U.S. mortgage industry. While 2026 has offered some relief from the 7%-plus interest rates seen in late 2023, volatility remains a key challenge. As of early April, average 30-year fixed rates have hovered around 6.3%, providing a narrow window for lenders to capture business. Industry forecasts, including those from the Mortgage Bankers Association (MBA), project a modest 8% increase in total mortgage origination volume to $2.2 trillion for the year, underscoring the intense competition for every loan.

In this environment, the role of a Chief Revenue Officer has become increasingly strategic. Lenders are moving beyond a siloed focus on sales to a more integrated approach that synchronizes every aspect of the revenue chain. Richardson's mandate to align production with capital markets execution is a direct reflection of this trend. Effective management of pricing, hedging, and loan sales is paramount when margins are thin and rate shifts can quickly erode profitability. This hire suggests Atlantic Bay is fortifying its ability to execute with precision in the secondary market, a crucial factor for non-bank lenders that rely on selling loans to generate liquidity and profit.

This move also follows the company's recent addition of Robyn Zacharias as Chief Marketing Officer, indicating a broader C-suite enhancement aimed at capturing market share. By placing seasoned experts in key growth-oriented roles, Atlantic Bay appears to be positioning itself to not only weather market uncertainty but to actively capitalize on it.

A Career Forged in High-Stakes Finance

Gregory Richardson is no stranger to navigating complex financial machinery. His career is a highlight reel of managing massive portfolios and driving substantial returns at some of the industry's largest institutions. Before joining Atlantic Bay, he served as Executive Vice President of Capital Markets at Primis Mortgage, where he was a member of the executive leadership team during a period of significant origination growth.

Perhaps most notably, Richardson previously served in senior leadership roles at Wachovia Corporation and Wells Fargo Securities. At Wachovia, he managed a staggering $35 billion residential mortgage portfolio and was instrumental in building a $20 billion whole loan acquisition program that generated over $210 million in excess returns—a testament to his ability to identify and execute on profitable strategies at immense scale.

His tenure at Movement Mortgage further burnishes his credentials. There, he led the capital markets division responsible for a $13 billion annual mortgage pipeline, overseeing loan sale execution to a wide array of agency and institutional investors. This experience is directly applicable to his new responsibilities at Atlantic Bay, where optimizing investor relationships and sale execution will be central to achieving the company's growth objectives.

The Competitive Outlook

Atlantic Bay operates in a market dominated by large non-bank lenders like United Wholesale Mortgage and Rocket Mortgage, where scale, technology, and efficiency are key differentiators. While Atlantic Bay has carved out a strong reputation for its customer-first culture, consistently being named a top workplace, the appointment of a capital markets heavyweight like Richardson signals a sharpened focus on the financial engine of the business.

His expertise will be critical in navigating not just market volatility but also a shifting regulatory landscape. With new rules like the Homebuyers Privacy Protection Act impacting marketing practices and increased scrutiny on the use of AI in lending, having an experienced leader to guide strategy is invaluable. Richardson’s background in managing large, complex operations within highly regulated environments provides Atlantic Bay with the leadership needed to adapt and thrive.

By bringing in a leader with a proven track record of managing multi-billion-dollar portfolios and driving revenue through sophisticated capital markets strategies, Atlantic Bay is making a clear statement about its ambitions. The move is less about maintaining the status quo and more about building a more resilient, dynamic, and competitive organization poised for its next chapter of expansion.