Rodeo riders work in seconds, in a highly charged and quickly changing environment. Matthew Pineda, an accomplished professional rodeo cowboy and team roper, has become good at the split-second decisions that must be made to achieve a successful ride.
And as founder of Salt Lake-based Castle & Cooke Mortgage, Pineda has used some of those same skills to successfully navigate the highly charged, ever-changing world of mortgage loans and to grow the young company each year it has been in business.
Pineda has been working in the mortgage business since 1996. In 2005, he was approached by executives of Castle & Cooke, one of the nation's largest residential builders and developers, to open an in-house mortgage division.
Pineda founded the division on a culture of staying ahead of the starting gun. Rather than looking at what other companies in the same sector were doing, Pineda chose to build the company based on what he felt would be the best, most profitable and effective practices.
Castle & Cooke Mortgage's business model is highly reliant on technology that streamlines the loan application process using a paperless platform. From origination to underwriting to funding, Castle & Cooke's processes make getting a loan faster, easier and more accurate.
Pineda also ensured that the company protects both lender and borrower with a proactive automated system of checks that give Castle & Cooke an unparalleled ability to deliver a clean loan file. The national average for efficiency quotient is 12:1 — in other words, every one person can feasibly close 12 loans. Castle & Cooke's average is an astonishing 57:1. It is indeed, as the company's motto states, "A Quicker Way Home."