James M. Wooten is a legend in mortgage banking in the United States and will always be a model of the best in the mortgage banking profession and industry. In the 1970s and 1980s, he was the President and CEO of Lomas & Nettleton Financial Corp. which grew to be the second largest mortgage banking firm in the country at that time. Jim Wooten was an innovator, perpetually seeking and finding more efficient processes to make available a wide array of loans for home buyers in this country.
Jim Wooten was an acknowledged leader in the entire mortgage banking industry. He was President of the Texas Mortgage Bankers Association in 1982 and President of Mortgage Bankers Association of America in 1983.
While Jim Wooten was a fierce competitor and advocate for his own company, he was, without any exception ever, considerate, respectful and collegial with competitors and others in the industry. Jim Wooten showed every day that you can be competitive without being contentious. Kindness and decency were his hallmarks.
Moreover, Jim Wooten was generous with his experience and knowledge. He always took the time to mentor, teach, and assist young people becoming mortgage bankers. That is why the TMBA Board of Directors decided in 1997 to designate the YMB Scholarship Award be changed to the James M. Wooten Scholarship Award.