Cardinal Financial

Office address: 3701 Arco Corporate Drive, Suite 200, Charlotte, NC 28273
Year established: 1987
Company type: financial services
Employees: 2,200+
Expertise: conventional mortgages, first-time home buyers, consumer direct and retail mortgages, FHA loans, USDA loans, VA loans, state bond programs, renovation loans, construction loans
Parent company: N/A
CEO and key people: Michael Royer (president), Adam DeYoung (CFO), Erica Price (chief credit officer), Joseph Pepe (COO), Joshua Mitzner (EVP of capital markets), Emily Wilson (director of communications support), Webb Deneys (CISO)
Financing status: N/A

Cardinal Financial is a mortgage solutions company that uses the loan platform, Octane, in providing multiple home loan options, purchasing, and refinancing services. Offers also include mortgages for unique homes, such as tiny houses, container homes, and more. The company is based in Charlotte, NC and has operations in all 50 states, with a workforce of over 2,200 employees.

History of Cardinal Financial

Cardinal Financial Company was founded in 1987 as Cardinal Financial Mortgage Bankers. The company was acquired and renamed Cardinal Financial Company, Limited Partnership in 2013. By that time, it had expanded from a small team to a nationwide lender within five years.

Facing rising rates in 2013, the company diversified its operations, rebranding in 2016 and establishing its wholesale channel in 2017 to optimize its processes, people, and technology. In that same year, it launched its proprietary technology called Octane, an automated online platform designed to maximize efficiency of their business.

Products and Services of Cardinal Financial

Cardinal Financial, through its digital platform, provides an array of mortgage products designed to meet diverse customer needs:

  • conventional loans: standard non-government-backed loans that require good credit
  • FHA loans: loans insured by the Federal Housing Administration, allowing for lower down payments
  • VA loans: mortgages for veterans and service members with favorable terms
  • jumbo loans: for home prices that exceed federal loan limits
  • renovation & construction loans: financing for home improvements or construction projects
  • unique home loans: tailored options for non-standard home buying situations

Culture at Cardinal Financial

Cardinal Financial also promotes community engagements through programs like the Crisis Assistance Ministry and Second Harvest Food Bank. They have a work culture that promotes inclusivity and ambition, offering various career opportunities. The company also shows appreciation to their employees through comprehensive worker benefits. These include:

  • remote-first operations
  • paid holidays
  • medical, dental, vision insurance
  • life insurance
  • disability insurance
  • 401(k) with 50% match

About Cardinal Financial CEO Michael Royer and Key People

Michael Royer was appointed as the president of Cardinal Financial in January 2024. Royer brings 32 years of experience to the company, including having high-ranking positions in companies like Mr. Cooper, Pacific Union Financial, Stearns Lending, and more. He was a former Fleet Marine Force corpsman in the US Navy for five years since 1984.

In leading Cardinal Financial, Michael Royer is supported by a team of seasoned executives:

  • Adam DeYoung, as the CFO, oversees financial operations and strategic planning in the company
  • Erica Price, the CCO, is responsible for overseeing the development and implementation of credit policies and managing overall credit risk
  • Joseph Pepe is the COO of Cardinal Financial, and he plays a critical role in formulating and driving operational strategies, focusing on process improvements and more
  • Joshua Mitzner, the EVP of capital markets, handles market strategy and investment opportunities
  • Emily Wilson, as director of communications support, leads internal and external communications, ensuring clear and consistent messaging that supports the company’s mission and business objectives
  • Webb Deneys, as CISO, is tasked with safeguarding information security and ensuring compliance with regulatory requirements

The Future at Cardinal Financial

In February 2024, Cardinal Financial's adopted to use FICO® Score 10 T in their Octane system, marking a strategic enhancement of their lending precision. This move positions them for future growth in the veteran home loan market. The future looks good for Cardinal Financial as it continues to build on its foundation of technological integration and customer-focused services.

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