Siva Pillarisetty - President & 100% Owner of Pillar Mortgage Corp.
I have real sources with capital to make funding a reality, top contacts worldwide. Did well enough in the mortgage industry that I worked in as Loan Officer to be promoted into a Senior Loan Officer. This occurred from 1991-1995, thus I qualified in full by my self to open up my own mortgage company within 4yrs in the industry. Being a top producer in the residential mortgage industry, I earned the right and was invited to work in commercial real estate finance as a broker or shall we say deal finder, on a par, discount, or wholesale price structure in 1993. This became second nature for me very quickly working in a wholesale price structure in residential mortgages. In Chicago I am known as some guy that closes a 100 loans per year while being a one man corporation.
I was 26 years old when I applied and was issued & became principal holder of a Banking License in my name only ( Siva Pillarisetty - Pillar Mortgage Corp. ) - Mortgage Banking(MB) Licence Number - MB4409 - Illinois Residential Mortgage Licensee ( this was to broker residential mortgages in the State of Illinois - 1995-2008). After the market collapsed in 2007, I was fortunate enough never having a loan returned or called, I shut my residential side down, kept my commercial side open, did well enough enter into Private Equity over the years .
Principal 100% Holder of Illinois Corporation - Pillar Mortgage Corp. - Registration Number - 58249182. 3/17/1995 - Current.
17 Yrs In business and in good standing.
Siva Pillarisetty-President & 100% Owner of Pillar Mortgage Corp-March 1995 – Present
Incorporated in 1995 for the purpose of entering the field of mortgage banking as wholesale broker to fund residential mortgages for several wholesale lenders and banks such as Flagstar Bank FSB, Countrywide, Bank One NA, Amerus Bank, Encore Credit Corporation/Bear Sterns, BNC/Lehman Brothers, The Money Store, New Century, Fremont Investment and Loan, Argent Mortgage LLC, Sebring Capital, Delta Funding, and several others that offered a product portfolio such as Fannie Mae, Freddie Mac, FHA, VA, Alt-A, Portfolio, Sub-Prime for broker compensation on a wholesale price structure/direct contract. Also at the same time I formed a commercial loan & capitalization brokerage that offers commercial real estate developers and project owners private equity & bank loans to fund there commercial project developments, acquisitions, refinance, via my private and industry sources for joint venture debt/equity or stand alone debt, construction loans, SBA, mezz, hard money, soft money, for broker compensation with a direct contracts and some times non disclosure agreements. Throughout my tenure with Pillar Mortgage Corp., I have remained 100% owner, registered agent, president, principal of all registrations & licenses. Duties involve running everyday administration and maintenance of Pillar Mortgage Corp., government relations, technology procurements, real estate procurements, developing new sources of funding along with maintaining relationships with current sources of funding, clients, referral sources, industry compliance such as up keep and maintenance of licenses and registrations, annual reports, bonds, insurance, general accounting, company data loan logs, marketing advertising, web site, I/T, security, contractual office support staff, loan officers, processors, office space. Also at the same time I managed staff, originated, processed, place files at my sources to for client letters of intent with primary terms pending due diligence, clear to close commitment letters, closings and fundings .
Siva Pillarisetty - 100% Owner/Broker-Pillar Consulting Group-Financial Services industry-September 1993 – Current
IC/GA-MGA insurance companies and brokerage houses such as - Farmers and Traders Life, WR Ryno, Jackson National, Bysis, Fidelity and Guarantee Life, Chubb Sovereign, Lincoln Heritage Life, Federal Kemper, Zurich Life. Also I am company and agent registered at Crump - Americas largest insurance wholesaler. Originated mortgages for The Mortgage Center Inc & American United Mortgage before I opened my own mortgage company in 1995. Pillar Consulting Group is Pre-incorporation sole proprietorship towards Pillar Mortgage Corp.
Financial Services and Construction
April 1989 – March 1995
ATS(American Telephone Services)- Agent for NTS(National Telephone Services) with master distributor Halle Telecommunications in Maryland. I was a Sales Account Executive at (ATS) and later became Vice President of (ATS), while I was Studying (CNC) Engineering Technology at N.I.U. Later I entered the field of financial services with sponsorship from Prudential. I completed my eduction in financial services and licensing with A.B.R.I. & Dearborn Financial in the months of May and June of 1991.This led me to financial service positions such as Manager, Agent, Loan Officer at Places such as First Churchill Builders, New York Life, The Mortgage Center Inc, and American United Mortgage Company.
Siva Pillarisetty Education
Romeoville High School 1983-1987 -
I grew up in the Naperville & Bolingbrook Illinois in one of the finest new developments in town called " Pepper Tree ", located 40 minutes from downtown Chicago on the borders of Romeoville, Bolingbrook, and Naperville in Bolingbrook . Later on I moved to Naperville into a custom built home. I was in the top 10 percent of my class with 3.6 grade point average in the college prep program & was approved at NIU on my first application. Growing up my hobbies were mainly playing Ice Hockey & Baseball.
Northern Illinois University 1987-1991
Engineering Technology(CNC)Computer Numerical Control - Safety and Sales Engineering with focus on Lathes, Mills, Injection Molding Machines, Design & Drafting, Safety Engineering, Manufacturing Technology Computer Programming.
Had 3.1 grade point average in College and attended many lab sessions.
Also attended - Collage Of Dupage - Credits toward NIU.
Dearborn Financial - Financial Services- Securities School - Completed in May/June 1991.
A.B.R.I, Insurance Services School - Completed in May/June 1991.
Many seminars & courses of continuing education for my industry 1991-Present.
I was Epsilon Pi Tau in my college days.
Was on the NIU Ice Hockey Team my Freshman year of College.
Came to America in 1974 to New York City from Hyderabad, India when I was five years old on a Visa. I was issued my social security number in August of 1974 & provided paperwork to become a U.S. Citizen one day.
Relocated from New York City to Chicago's " Hyde Park later that year in 1974 " I am a New Yorker, but also a Chicagoan "
Became a U.S. Citizen in 1984.