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6/12/25
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Foundation Specialty Finance has appointed Cliff Carnes as Chief Operating and Production Officer. He will oversee Finance & Accounting, Human Resources, and Debt Origination as the company scales its national platform. Carnes brings over two decades of executive leadership in real estate finance.
Previously, Carnes served as Chief Production Officer at Walker & Dunlop, overseeing capital markets in the western half or the US. Before that he was the chief operating officer and then president at Johnson Capital, where he negotiated its acquisition by Walker & Dunlop. A retired US Navy Commander, Carnes holds a B.A. from USC and an MBA from Keller Graduate School. His hiring represents Foundation's focus on operational strength, disciplined growth and institutional partnerships.
“Cliff brings the discipline, experience, and executional strength we need as we scale,” said Ron McMahan, CEO of Foundation Specialty Finance. “His track record building production teams and navigating capital markets speaks for itself.”
Foundation Specialty Finance is a tech-enabled specialty finance company based in Seal Beach. The firm combines decades of industry experience to deliver fully integrated Special Servicing, Loan Origination, and a Digital Marketplace, powered by its proprietary platform, ACHIEVE™. Foundation serves private lenders, regional banks, and private equity firms nationwide. Its loan programs and acquisition strategies cover non-owner-occupied residential properties, small-balance commercial assets, and CRE loans originated by third parties.
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