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Richard J. Groeneweg
Richard Groeneweg’s specialization is in finance management, with 30 years experience in all fields of mortgage banking. His emphasis has been secondary marketing and securitization. Residential Resources, Inc. was formed to provide a vehicle for the formation of Asset Backed Securities. From its inception, RRI has issued nearly Three Billion Dollars of Asset Backed Securities, all of which have been AAA rated private placements. Types of assets that have been securitized are residential mortgages, commercial mortgages, airplanes, credit cards and busses. Mr. Groeneweg has done extensive work for Delaware’s Department of Insurance developing a program for the securitization of the assets under their supervision. Private equity placements include the successful completion of a $25 million private placement for an e-learning company. Previously Mr. Groeneweg was the founder and CEO of Mid Valley Mortgage Corporation, which did retail and wholesale Mortgage Banking, with offices in Colorado, Texas and California. He also developed and implemented a secondary marketing program which the Federal Home Loan Bank Board in the Kansas Region approved. Mr. Groeneweg served as the President of the Colorado Mortgage Banking Association.