Gary W.

Hutto, CPA, CMB, AMP

3661 Tall Timber Drive
Birmingham, Alabama 35242
Ph. 205-807-5233, e-mail gh7adeb2@westpost.net
EMPLOYMENT SUMMARY
* Gary Hutto Management Consulting, LLC-1996 to Current, Owner
* MortgageAmerica, Inc.-1993 to 1996, Corporate Vice President-Finance and Chief
Financial Officer
* Daniel Corporation-1982 to 1992, Vice President-Corporate Finance and Chief Ac
counting Officer (previously, Accounting Manager and Controller)
* MortgageAmerica, Inc.-1980 to 1982, Controller and Servicing Manager
* Arthur Andersen & Co.-1976 to 1980, Audit Senior
* Haskins & Sells-1974 to 1975, Accounting Intern
EMPLOYMENT AND SPECIFIC WORK EXPERIENCE
Arthur Andersen & Co.
* Audit Senior
* Audited savings and loans, contractors, manufacturers, farm cooperatives, inde
pendent schools, and non-profit entities
* Designated as lead senior for savings and loan audits
* Performed special projects including real estate development pro formas and re
tail LIFO calculations for an IRS RAR
MortgageAmerica, Inc.
* Servicing Manager
* First audit by Fannie Mae of servicing operations resulted in a congratulatory
letter from Fannie Mae for low number of exceptions
* Reduced delinquencies from over 11% to approximately 5% (government and conven
tional portfolio)
* Controller
* Designed first QC program for FHA loans
* Supervised mortgage warehousing
* Coordinated audits with outside auditors
* Supervised QC program
* Assisted in design of wrap-around loan program with MGIC
* Assisted in design of the MortgageAmerica ARM program with Fannie Mae
* Traded futures contracts as a backup to secondary marketing
Daniel Corporation
Vice President Corporate Finance
* Tax Planning and Compliance
* Avoided approximately $3,000,000 of taxes in a leveraged buyout
* Rolled up existing real estate partnerships and eliminated potential taxes of
$2,000,000
* Determined the tax and accounting structures for various real estate syndicati
ons
* Structured a partnership interest sale and reduced state taxes from the sale b
y $300,000
* Negotiated tax and accounting sections of partnership agreements and coordinat
ed several like-kind exchanges
* Accounting and Audit
* Selected the financial accounting methods used in the development of various r
esidential, golf course, and commercial properties
* Determined and supervised the accounting for a quasi-pooling and a company pur
chase
* Supervised the consolidation of more than thirty entities
* Coordinated audits for more than thirty real estate entities
* Wrote an article for the Journal of Accountancy regarding the accounting for g
eneral partnership interests (a method developed and used by the company)
* Property Accounting and Forecasting
* Fully implemented the conversion to an automated property management system
* Assisted in property workouts (including reporting as a debtor in possession f
or a real estate partnership)
* Supervised design and implementation of a property long range forecast system
* Supervised financial analysis of property long-range forecasts using a company
developed system
* Construction Loan Negotiation, Loan Compliance, and Cash Management
* Began the investment of property cash flow into commercial paper, bankers acce
ptances, and other short-term, high grade instruments
* Designed and implemented a cash management system
* Supervised lender reporting and covenant compliance
* Supervised construction lending including draws and reporting
* Negotiated, structured, and closed the sale of a $161,000,000 commercial offic
e sale/leaseback
* Negotiated construction loan agreements
MortgageAmerica, Inc.
CFO
* Coordinated and negotiated eight purchases and sales of mortgage servicing rig
hts
* Negotiated warehouse lines of credit
* Negotiated and instituted use of the company's first gestation repo facility
* Supervised mortgage warehousing
* Coordinated audits with outside auditors
* Supervised QC program
* Served on MBA's Ginnie Mae Liaison Committee
* Sold scratch and dent loans
* Wrote a response to the FASB's exposure draft on the capitalization of mortgag
e servicing rights
* Wrote an article for Mortgage Banking on hedging
* Valued mortgage servicing rights
Gary Hutto Management Consulting, LLC
* Computer Programming and Program Implementation
* Design and implement database, reporting, and data conversion systems (includi
ng cash management, secondary marketing applications, data imports, project cost
, POS interface, cash account reconciliation, tax deadlines, and fixed income re
porting)
* Install and implement mortgage loan servicing systems, mortgage loan originati
on systems, fixed asset programs, and general ledger systems
* Research various software applications and recommend solutions based on client
criteria
* Accounting and Auditing
* Assist clients with implementation of new accounting standards
* Consult with clients regarding the application of accounting standards
* Perform agreed upon procedures involving purchases, verification, and due dili
gence (real estate projects and investment companies)
* Audit a broker/dealer and compilation for a construction company
* Served as an interim CFO for a real estate developer and residential builder
* Perform accounting or provide accounting assistance for contractors, residenti
al home builders, real estate developers, property managers, mortgage bankers, b
roker/dealers, wireless phone retailers, regulated investment companies, unit in
vestment trusts, aircraft lessors, and non-profit entities
* Performed an audit of a broker/dealer's anti-money laundering procedures
* Prepare tax returns (primarily LLCs and partnerships under Sub-Chapter K)
* Mortgage Loan Servicing
* Served as an interim servicing manager
* Assisted a client in servicing Title I mortgage loans
* Assisted a client in a sale of conventional servicing rights
* Consulting and Other
* Assist clients in the preparation of business plans
* Consulted with a client in Chapter 11 bankruptcy and prepared debtor-in-posses
sion reports
* Provide expert witness and litigation support consulting services (including p
redatory lending, divorce, mortgage servicing sales, and subprime mortgages)
* Prepare various policy and procedure manuals (general ledger, fixed asset, dis
aster recovery, and record retention)
* Review company procedures and policies and make suggestions for improvement of
those procedures and policies
* Freelance Writing
* Authored The Handbook of Mortgage Banking Financial Management, published by t
he Mortgage Bankers Association (MBA) in 1999 and 2005 (second edition)
* Authored Commercial Real Estate Finance Basics, published by the MBA in 2000
* Edited and rewrote MBA's Handbook of Mortgage Lending in 2003
* Authored The Good Book and Good Business, published by Crane Hill Publishers i
n 2006
* Writes articles for mortgage banking, trade magazines including the AICPA's on
line publications (as a ghost writer), Mortgage Broker (as a ghost writer), Mort
gage Banking, Servicing Management, Commercial Market Insight, Secondary Marketi
ng Executive, and Equity
EDUCATION AND MISCELLANEOUS
* Schools
* Graduated with a B.S. in Commerce and Business Administration, Summa Cum Laude
from The University of Alabama in 1976 with an accounting major
* Member of Beta Alpha Psi, the accounting honorary
* Member of Beta Gamma Sigma, the business honorary
* Graduated from MBA's School of Mortgage Banking as a Distinguished Graduate in
1995
* Attended Arthur Young's (now Ernst & Young) schools for real estate taxation,
corporate income taxation and partnership taxation-1986 and 1987
* Attended Arthur Andersen's construction industry school--1979
* Attended FICS's Loan Processor, IQ Objects, I-32 and Mortgage Accountant Schoo
ls--1997
* Attended a World Trade Institute school on U.S. taxation of foreign operations
--1990
* Attended a SEC disclosures and accounting requirements school-1989
* Completed MBA's CMB preparatory course in 2006
* Memberships
* Member of the Mortgage Bankers Association (MBA)
* Served on MBA's Ginnie Mae Liaison Committee, and its Education Committee (com
mercial and residential)
* Currently servicing on the Financial Management Committee
* Former member of the Mortgage Bankers Association of Alabama (MBAA)
* Served as the Chairman of the Income Property Committee in 1997
* Served as the Fund Raising Chairman for the 1998 Spring Convention
* Served as the Vice-Chairman for the 1999 Spring Convention
* Member of the Alabama Society of Certified Public Accountants (ASCPA)
* Served as chairman and vice chairman of the Accounting Standards Committee and
as chairman of the Financial Instruments Subcommittee
* Drafted responses to FASB exposure drafts on accounting for mortgage servicing
rights and derivatives
* Accreditation
* Certified public accountant in Alabama
* Retired certified public accountant in Mississippi
* Accredited Mortgage Professional (AMP) awarded by the MBA in 2005
* Certified Mortgage Banker (CMB) awarded by the MBA in 2006
* Former holder of the NASD Series 22 license and the Alabama Real Estate Agent'
s License
* Other
* Presentations at conferences on
* Purchase accounting
* Partnership accounting
* Accounting trends
* Accounting standards updates
* Mortgage Accounting
* Classroom or client presentations on
* Sarbanes-Oxley
* Accounting for mortgage servicing rights
* Microsoft Excel and Word use
* Accounting for derivatives