Mortgage Capital Markets Advisory, Strategy & Independent Research
Independent perspective backed by more than 20 years of hands-on mortgage capital markets leadership, trading, risk management, and institutional relationships.
About
Regehr Capital Markets Advisory exists to share knowledge and experience gained from over 20 years working in mortgage capital markets.
My background includes senior leadership in secondary marketing, institutional trading, mortgage pricing, pipeline hedging, liquidity management, investor relationships, and financial risk management. Throughout my career, I've managed mortgage pipelines ranging from $100 million to $2+ billion and participated in more than $100 billion in cumulative securities and derivatives trading activity.
I've worked with both banks and independent mortgage lenders, giving me a firsthand understanding of how changes in the financial markets affect mortgage pricing, profitability, investor demand, liquidity, and the decisions lenders make every day.
One thing I've learned over the years is that capital markets decisions rarely happen in isolation. Changes in investor appetite, hedging costs, pricing, or market liquidity can have consequences throughout an organization. Understanding those relationships is essential to managing risk and making sound business decisions.
Through Regehr Capital Markets Advisory, I offer independent research, market perspectives, and practical guidance informed by that experience. My goal is to help lenders, financial institutions, investors, and technology providers better understand the challenges they're facing, evaluate their options, and make informed decisions.
I believe the best solutions come from combining sound analysis with an understanding of how the mortgage business actually works.
Services
Capital Markets Advisory
I provide independent guidance on mortgage pricing, pipeline hedging, liquidity, best execution, investor strategy, and risk management, drawing on more than 20 years of hands-on capital markets experience.
Interim & Fractional Leadership
I offer experienced capital markets leadership during executive vacancies, organizational transitions, periods of growth, or market disruption, helping maintain continuity in critical operations and decision-making.
Operational Assessment & Improvement
I review capital markets workflows, controls, staffing, technology, and financial performance to identify execution inefficiencies, strengthen risk management, and uncover opportunities for improvement.
Mortgage Technology Advisory
I evaluate mortgage pricing, hedging, eligibility, execution, and workflow technology from an experienced operator's perspective, focusing on practical functionality, accuracy, and measurable business value.
Special Situations & Execution Support
I provide experienced guidance during market volatility, liquidity pressure, investor disruptions, hedge challenges, and other complex situations where sound judgment and timely decisions matter.
Capital Markets Advisory
Drawing on more than 20 years of hands-on capital markets experience, I provide independent guidance in the following areas:
Pipeline risk management
Hedge strategy and performance
Pricing and margin management
Liquidity and warehouse exposure
Best execution
Investor and counterparty strategy
In my experience, capital markets performance depends on how pricing, hedging, liquidity, operations, and controls work together—not on any one decision in isolation.
Interim & Fractional Leadership
I provide experienced capital markets leadership on a short- or long-term basis when an organization:
Has an unexpected leadership vacancy
Is searching for a permanent executive
Needs experienced oversight during a transition
Is launching or rebuilding a capital-markets function
Requires senior expertise without a full-time hire
The problem isn’t that the models are wrong. The problem is that the models are often answering a different question than management is trying to solve.
Operational Assessment & Improvement
I evaluate capital markets operations to identify inefficiencies, strengthen controls, improve execution, and uncover opportunities to reduce costs and improve profitability.
Areas I review include:
Lock desk
Pricing
Hedge execution
Loan sales
Investor allocation
Reporting
Controls
Technology
Staffing
Policies and procedures
More production doesn't always mean better performance. I've seen lenders grow beyond their operational capacity, only to find that the additional volume actually hurts profitability.
Special Situations & Execution Support
I provide experienced guidance when unusual market conditions or operational challenges require quick decisions and careful risk management.
Situations I can help with include:
Severe rate or volatility events
Hedge underperformance
Liquidity stress
Margin compression
Model performance, assumptions, and risk controls
Counterparty and investor problems
Merger integration
Operational remediation
Business wind-downs
Rapid changes in origination volume
Board or executive decision support
A good strategy has to make financial sense, work in practice, and meet regulatory requirements. If it fails any one of those tests, it isn't a good strategy.
Mortgage Technology Advisory
I help mortgage lenders and technology providers evaluate systems from the perspective of someone who has actually used them to manage pricing, risk, and secondary-market execution.
My focus is on practical functionality, reliability, and whether a platform delivers the results it's supposed to.
Hedging and pipeline-management platforms
Pricing and eligibility engines
Best-execution and loan-sale technology
Vendor and product evaluation
Workflow integration and data accuracy
Operational implementation readiness
Product strategy and roadmap input
Practical AI and automation applications
User and lender requirements
Independent evaluation of platform capabilities and performance claims
Technology should make good decisions easier, not introduce new problems. If a system doesn't improve accuracy, execution, or efficiency, what's the point?
Research & Publications
My research draws on more than 20 years of experience in mortgage capital markets, combining firsthand industry knowledge with independent analysis of financial markets, institutional risk, investor behavior, and housing finance.
I focus on the relationships between market conditions, financial decisions, and the practical challenges facing mortgage lenders, investors, and industry leadership.
• Project Mortgage: A First Principles Guide to Mortgage Capital Markets
• The Psychology of Mortgage Pricing: Why the Best Price Is Rarely the Perfect Price
• The Coming Wave of Mortgage Industry Consolidation
• Institutional Risk in Warehouse Lending Networks
• Managing Pipeline Risk During Elevated MBS Volatility
I've learned that the most useful research doesn't just explain what happened in the market. It helps people understand why it happened and what it means for the decisions they make next.
Submit an Inquiry
I'm always interested in connecting with industry professionals, financial institutions, technology providers, researchers, and journalists.
Whether you have a capital markets question, want to discuss something happening in the industry, or see an opportunity to work together, I'd be happy to talk.