Richard Delgado is DLP Capital’s inaugural Managing Director, boasting over 25 years of leadership in structured finance, capital markets, and the mortgage industries. Previously, he held the role of Sr. Vice President, Portfolio Investments and Structured Finance at Nationstar Mortgage for 5 years, overseeing asset financing, securitization, corporate debt management, and transactional activities.
Prior to his tenure at Nationstar Mortgage, Richard spent nearly 19 years within the Ocwen Financial Corporation family of companies. During this time, he spearheaded the launch of Home Loan Servicing Solutions, Ltd. (HLLS), a separate publicly-traded entity affiliated with Ocwen. Together, they successfully raised $1.2 billion in equity through IPOs and follow-on offerings. Richard’s strategic initiatives included the acquisition and management of mortgage servicing rights, which facilitated Ocwen’s transition to a capital-light operator while HLSS managed the capital-intensive assets. Under his leadership, the firm’s market capitalization surged to $1.6 billion.
Episode Highlights Here:
Richard
If you ever look at our flywheel that always used to be capital, but we’ve recently recognized the fact that you cannot sustain this level of growth and achievement without the right people. And bringing in the right talent doesn’t mean just adding a number of people. It’s adding expertise, again, from within developing leaders, which is a big portion of what we do. But then when there’s, you know, a different business, or if we’re starting something new, again, like we just got into our V camp communities, it’s finding the right talent that can help you grow that successful.
Brett
What would you say is the number one secret from the inside now for four and a half years with DLP capital, that DLP capital has been able to, you know, create and preserve more wealth for families and for investors?
Richard
Oh, and honestly, it’s the easiest thing in the world, Brett. It’s to do what we say we’re going to do. So again, we publish a lot of targeted returns. And we make everything visible to our investors in terms of what our vision is for the year coming up, what our compasses, what direction, what our targets are to hit. So it’s really doing the hard work to do to commit and accomplish those goals. And we do that through different different rhythms throughout the year, throughout the quarter, throughout the week. And so that really helps us produce great returns for our investors and consistent returns. So
Brett
it sounds like doing what you committed to doing. And only that doing the discipline is necessary in order to basically prepare and plan to win. Is that a fair summary?
Richard
That’s exactly and it’s preparing to win. That’s a big point. So as, as you know, there are a lot of folks out there who have the, you know, desire to win and to have the will to win, but they don’t have the will to prepare to win. And that’s a big portion of our success is that preparation.
Brett
So let’s talk about that a little bit more. I think this is a key point. Now I think over 350 employees, right, not including even maybe additional employees out in the field, right? But talk about how the momentum is sustained, quarter after quarter, year after year. What’s the secret of what it is, you start with yourself? How are you doing that, and collectively how you see DLP as a whole, the leadership and the team members being able to sustain that momentum.
Richard
Now I appreciate it. So I’d start with people, right. I mean, if you ever look at our flywheel, it always used to be capital. But we’ve recently recognized the fact that you cannot sustain this level of growth and achievement without the right people. And bringing in the right talent doesn’t mean just adding a number of people. It’s adding expertise, again, from within developing leaders, which is a big portion of what we do. But then when there’s, you know, a different business or if we’re starting something new, again, like we just got into our V camp communities, it’s finding the right talent that can help you grow that successfully. You know, I
Brett
I think that’s a key talent, plus the ability to have them fit well in with everybody as well keep that momentum moving forward. So what would you say the next secret is to DLP capital, helping people create and preserve more wealth and keep the momentum moving forward?
Richard
Yeah, again, I’d probably take a step back and just say, you know, it’s really truly from our perspective, what we call our 20 ma March. So again, a lot of it is maintaining a pace that’s sustainable. So again, the 20 ma March means we’re not trying to, you know, do too much in one period, one quarter, one year, we’re just trying to consistently month over month, do the things we need to do to achieve those bigger goals.
Brett
What was the one thing and perhaps you knew about this four and a half years ago before you joined DLP, but perhaps you’re learning secrets on this? Because you’re experiencing it, you’re living it, you’re doing it right? Well, what would you say helped you personally, not, you know, over exert or go, you know, go, you know, let’s say, the 40 miles, if you will, and the analogy right, versus just 20 miles every day? What’s the practice that helps you to stay within sync and balance? Yeah,
Richard
I’ll admit that it took a little adjusting to because I was always trying to go, you know, 200 miles an hour all the time. That’s not sustainable. You get burnt out. I learned most of it through DLP. And through Don, and again, the building the elite organization, rhythms. Particularly, we have one call our rocks, which are the quarterly goals we set. And it’s a very simplistic theory, which is simply if you fill a cup with, you know, sand, which are all the little daily minutiae that you know, comes into your life, emails, phone calls, everything else. You’ll never have room to fill that cup with big rocks, which are the important goals. But if you focus on the big goals first, and then pour the little stuff over it aloft. it’s right. So it’s really how you change your rhythm and how you focus on your day. So for me, the biggest success was our elite journal that we use. The Elite journal is a 90 day journal. It’s daily, it helps you look at your day, get it prepared for the next day. But then also what went well, what didn’t go well, so keeps you on track, making sure that you’re always focusing on those important goals. So
Brett
well said and it’s so simple. Yeah, it’s not easy, necessarily. It’s easy, but it’s not necessarily easy to keep the disciplines going. And so having that elite journal is like an amazing person to work with, like Don, right, and to keep the momentum moving forward. It is really remarkable. And I’ve seen this now with DLP since I’ve first you know, started to learn about you guys couple years ago, and it is remarkable and it’s it’s, it’s what makes the difference to keep the momentum going
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About Richard Delgado
Richard Delgado is DLP Capital’s first-ever Managing Director. He is an accomplished leader with more than 25 years of experience in the structured finance, capital markets, and mortgage industries. Richard served as Sr. Vice President, Portfolio Investments and Structured Finance with Nationstar Mortgage for 5 years, where he was accountable for the financing and securitization of assets and raising and managing the firm’s corporate debt, and transactional work, as well as for the acquisition and sale of assets and corporate development.
Additionally, he spent nearly 19 years at the Ocwen Financial Corporation family of companies, where he launched Home Loan Servicing Solutions, Ltd. (HLLS), an Ocwen affiliate that operated as a separate publicly-traded company. Together, they raised $1.2B of equity in the IPO and follow-on offerings and purchased the mortgage servicing rights from Ocwen that resulted in Ocwen becoming a capital-light operator while HLSS managed the capital-intensive assets. His work helped grow the firm’s market cap to $1.6B. Rich completed his Bachelor of Business Administration in Accounting from Iona College.
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