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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 26 October 2025 F E A T U R E S T O R Y A LIFE IN MORTGAGE MortgagePoint profiles this year's Five Star Lifetime Achievement Award recipient, Patrick Coon of U.S. Bank. B y A N D Y B E T H M I L L E R W hen MortgagePoint Editor- in-Chief mentions to 2025 Five Star Lifetime Achievement Award recipient Patrick Coon that many of the people we have interviewed over the years entered the mortgage industry in weird or roundabout ways, Coon doesn't hesitate to reply with a laugh, "I've got that weird covered." Like many of his colleagues, he never planned this career in particular. Yet, over the span of more than four decades, Coon has built a legacy of leadership, resilience, and mentorship that has now earned him the Five Star Institute's Lifetime Achievement Award, which was awarded during this year's Five Star Conference in Dallas in the last week of September. Currently serving as SVP of Default and Loss Mitigation for U.S. Bank, Coon's path began not in mortgage but in consumer services, with career stops at Ford, American Express, and Associates First Capital. By the late 1990s, a well-timed phone call changed everything. "In 1998, I'm sitting here working for the Associates, and I get a phone call from Chase Manhattan," he recalls. That call, facilitated by a former American Express colleague, led to his first role in mortgage, as head of U.S. operations for Chase Manhattan. It was a leap into unfamiliar territo- ry. "It was a huge adjustment," he says. After 16 years working in credit cards, he was suddenly managing seven sites and thousands of people in mortgage servicing. The transition was daunting, but Coon found himself buoyed by the team around him. "The team that I was fortunate enough to manage was a group of senior vice presidents who were all industry savvy, from investor relations to collections to customer service to technology. [I] just walked into a wonderful situation." Lessons in Leadership C oon's career is defined not just by titles held, but by a philosophy of leadership shaped by decades of expe- rience. He points to four guiding princi- ples: 1) give people the tools they need, 2) balance short-term and long-term vision, 3) stay optimistic, and 4) always remember that people matter most. "You always want to give your people the best, so they can be their best," he says of his early lessons at American Express. From his time at Associates First Capital, he learned the importance of sustainable vision beyond quarterly results. At Fairbanks Capital, later SPS, he led in a moment of crisis. "I learned then that, regardless of how frustrated people must be or the anxiety they must feel, in those situations, I had to be the most positive guy in the room and let them know that we've got this as we worked. If we work together as a team, we've got it." The final principle, he says, comes not from the boardroom but from home. "The best role I have ever had is a hus- band. My wife, Alison, is the most caring person I've ever met." Coon describes his life partner as someone who goes the extra mile, and who, throughout their 46 years of marriage, has consistently and lovingly held his feet to the fire when it comes to character, growth, and empa- thy toward others: "When I get home, A N D Y B E T H M I L L E R is a seasoned journalist, editor, and freelance writer with over 20 years of experience in magazine, news- paper, and editorial writing. She has contributed to a variety of journalistic publications, including DS News, MReport, and MortgagePoint, as well as luxury magazines such as Pasadena Magazine, Hawaii Home and Remodeling, HI Luxury, Waikiki Magazine, Big Island Traveler, Zicasso, Midweek Magazine, and more. Andy Beth has also written for Dining Out Hawaii and other regional outlets. Throughout her career, she has honed her skills in storytelling, consistently delivering compelling and insightful content across di- verse topics. Her work has taken her around the globe, allowing her to cover an array of subjects spanning from procurement and pharmaceuticals to travel and lifestyle.