Builders desktop Level Capital


Level Capital was founded in 2011 by Keith Tibbles, Ernie Gehre, and Brady Yeager. As partners, Tibbles, Gehre, and Yeager have founded several nationally and regionally recognized companies:

  • Cobalt Mortgage in 2002 – a premier national mortgage banker
  • CardTapp Inc. in 2012 – a leading mobile technology company
  • Azure Northwest in 2014 – an award-winning regional builder/developer

The Level Capital management team includes experienced professionals with a deep background in the financial services and real estate industries.


Keith Tibbles – Partner

Keith has over 30 years of experience in mortgage and construction lending, serving the industry as a Director of Pacifica Bank, President of the Washington Mortgage Lenders Association, and as an Advisory Board Member for Fannie Mae. He has also served on several task forces for the Mortgage Bankers Association nationally.

Keith is a lifelong resident of Washington State, where he attended the University of Washington and majored in Business Administration and Finance. Away from work, he spends his time with family and friends as an avid golfer, hiker and fly fisherman.



Ernie Gehre – Partner

Ernie has over 35 years of experience in mortgage and other industries. He is a co-founder of numerous successful businesses in Housing, Finance and Technology industries.

Ernie is widely recognized as a sales leader nationwide, specializing in developing large and successful sales organizations. A long-time resident of Washington State, he is an avid Hunter, Fisherman, Golfer as well as a rabid Seahawk fan.



Brady Yeager – Managing Member, President

Brady has 20 years of experience in both finance and mortgage lending industries. His experience spans from investment banking, residential retail mortgage lending, branch management, sales recruiting, coaching, and divisional management for one of the largest mortgage lenders in the country.

Brady started his career in New York but returned to the Pacific Northwest where he opened his own brokerage called Yarrow Bay Mortgage, which merged with Cobalt Mortgage in 2008. As Area Sales Manager for Cobalt, Brady oversaw $2 billion in production. He was a primary shareholder and a key figure of Cobalt Mortgage until the company’s assets were acquired by Caliber Home Loans in November 2014.

As Divisional Vice President for Caliber, Brady manages 1,500 employees, including 750 loan officers in 15 states. In 2018, his division produced $8 billion in mortgage loans.

As a Managing Member of Level Capital, Brady oversees client relations, portfolio management, and all origination activities.

Brady graduated from Washington State University with a degree in Business. He now resides in Kirkland, his home for 19 years, with his wife, Sarah, and two daughters, Olivia and Vivian.  When not working, he loves to spend time with his family at their beach house. Brady is also involved in community outreach, supporting the Boys and Girls Club and the Cystic Fibrosis Foundation.

Cell: 206-619-4939


Terry VanNostrand – EVP/General Manager

Terry has been a regional leader in residential and commercial construction lending for over 30 years, serving as Level Capital’s EVP and General Manager since 2004. Prior to joining Level Capital, Terry spent most of his career with Seafirst/Bank of America in both the Corporate and Northwest National Divisions as EVP and Regional Manager.

Terry is a graduate of the University of Washington and has an MBA from the University of Puget Sound. In 1993 he served as class President while graduating from the Pacific Coast Banking School and is currently a mentor for the UW Foster School of Business. Terry is a proud member of the Seattle #4 Rotary Club and a member of the Business Advisory Board for Pacific Lutheran University.

Direct: 425-605-3104
Cell: 206-595-4545


Lyra Waggoner – EVP Software Strategy

Lyra has been building lending software for over a decade, joining our team to lead software product expansion in 2019. Lyra joins Level Capital from Caliber Home Loans, where she was a founding member of their software team that built a proprietary lending platform for loan originators, customers, and business partners.

Lyra is a University of Arizona graduate. Outside of the office, Lyra loves spending time with her husband, two daughters and rides Arabian horses competitively.

Direct: 520-250-7235


Todd Britsch – Senior Vice President/Director of Market Research

Todd has spent the last 18 years creating custom reporting services for the new construction industry along with consulting with builders, developers and lenders and many other industry professionals. Todd brings a unique talent and a high level of analytics to Level Capital. Todd’s role here has many parts as an Executive Team Member. He manages our external and internal market data, along with playing a key role in risk management. Todd will assess new markets as Level Capital grows, but more importantly, monitor the health of the market’s we are currently lending in. Todd’s expertise provides a unique service to Level Capital’s clients, assisting them as they navigate the ever-changing housing market.

Todd has also owned and operated multiple industry related businesses. His entrepreneurial spirit fits in well with the Level Capital culture and helps set us apart from any other lenders in the industry.
Throughout Todd’s career he has been the Pacific Northwest’s voice and forecaster for the new construction industry.

“My goal is to protect our clients from making critical mistakes in the ever-changing housing market.”

Cell: 425-448-4605


Jeff Coop – General Counsel

Jeff advises the Level Capital on corporate governance, HR and employment, risk management, commercial contracting/vendor management, and compliance matters. He also works closely with the team to help structure loans and lending relationships, insurance, title, environmental, and zoning and planning questions.

Jeff joined Level Capital in 2016, after serving as the General Counsel and Chief Compliance/Ethics Officer at Cobalt Mortgage. Before joining Cobalt Mortgage, Jeff worked both as in-house counsel and in the traditional law firm setting, specializing in corporate and real estate law with a particular focus on commercial leasing, real estate development, real estate financing, and real estate brokerage.

He earned both his undergraduate and law degrees with honors from the University of Montana.

Direct: 425-406-2478


Isaac Stocks

Isaac recently joined Level Capital. Bio coming soon.



Tom Young

Tom recently joined Level Capital. Bio coming soon.



Roxanne Smith – Credit Administration Manager

Roxanne has been in commercial lending, credit administration for nearly 20 years with leading companies like First Tennessee National, Cobalt Capital Partners and now Level Capital. During that period, she has funded and administrated over $400 million in loans to builders/investors and made many raving fans in the process.

Outside of the office Roxanne loves spending time with her husband and two daughters.

Direct: 425-605-3038


Sarah Leipper – Corporate Controller

Sarah has over 11 years experience in finance within the mortgage and real estate lending industry. Before Level Capital she worked in marketing finance at Nordstrom and as a senior accountant at Cobalt Mortgage.

Sarah is a Washington native and graduated from the University of Washington with a Bachelor’s degree in Mathematics. Outside of the office Sarah enjoys hiking in the Cascades and playing soccer.

Direct: 425-605-1418


John Murphy – Vice President & Director of Market Data Analytics

John brings 25+ years of experience analyzing real estate markets to Level Capital. He started his career preparing market research for builders and their listing agents. In 2014 he transitioned to Director of Data Services for Metrostudy, where he worked until January of 2020. His focus since coming to Level Capital has been to license multiple data sets and develop the data management and reporting systems. John is creating data visualizations in Tableau, which will allow our risk analysts to not only have a macro-level understanding of the market regions, but also of competitive factors at a more focused geographic level.

Cell: 206-619-7750


Nick Cason – Loan Officer/Portfolio Manager

Nick is a graduate of the University of Washington and has been in the real estate lending and investment industry for over 14 years. He has extensive experience in property acquisition and project evaluation as both a direct lender and investor. Nick most recently served as Acquisition Division Manager for a leading regional firm before joining Level Capital.

While not at work Nick is a dedicated father and avid golfer.

Cell: 206-832-6377


Jason Zwicker – Loan Officer/Portfolio Manager

Jason has over 15 years of experience in real estate and has served as an Account Manager for national leading lenders. He has spent the previous 8 eight years in real estate investment sales for a leading regional firm. In this position, Jason has evaluated and overseen the acquisition and re-sale of over 3,000 properties. In addition to serving his clients in an advisory role, he has extensive experience as an investor in real estate throughout the Puget Sound area.

Jason is a lifelong resident of Washington State. Outside of business, Jason looks forward to spending time with his wife, Francie, and his two daughters, Leila and Hanna. He also enjoys golf and snowboarding.

Cell: 425-260-7270


Ryan Leopold – Loan Officer/Portfolio Manager

Before joining Level Capital, Ryan was a top producing mortgage loan officer for 15+ years successfully closing over $700 million in loan production while being an industry leader, author and successful real estate investor.  He credits his success as a former originator to his unique marketing approach and his commitment to serving the needs of his customers and strategic partners.  Ryan also co-founded CardTapp in 2012, a SAAS mobile marketing platform that has grown to over 10,000 members, servicing sales professionals by helping them stay better connected with their customers and top partners.

When Ryan is not working, you can find him on the golf course or rooting on his beloved Seahawks.

Direct: 425-426-2747
Cell: 425-260-8632


Todd Everest – Portfolio Project Risk Manager

Todd has been part of the construction industry since 1988 when he began his career in high-end custom home building. In 2001, Todd joined Centex Homes and contributed to the national builder’s 3 consecutive JD Powers awards. After Centex, Todd went on to start a local computer repair and installation business and then joined the Richmond American Homes team for several years. In 2014, Todd joined Azure Northwest as Director of Construction.

Todd has since joined Level Capital to create and implement the processes and procedures needed to identify, monitor, and manage projects as they vary with different levels of risk. Outside of work, Todd enjoys gardening, spending time with his family, and creating super tasty BBQ on his smoker.

Cell: 425-466-8642


Molly Madden – Business Analyst

Molly works as a business analyst for our Salesforce system and assists in marketing efforts. Prior to joining Level Capital, Molly worked as an independent contractor for the Denver-based software company GoSpotCheck.

Molly earned her Bachelor of Science from Colorado State University’s Honors Program. Outside of work, Molly spends her time hiking, camping, and competitively riding her Arabian horse alongside Lyra.

Cell: 520-907-7179


Chase Tibbles – Business Analyst

Chase joins our team with experience in the residential mortgage industry as a Production Assistant. At Level, Chase assists in maintaining our Salesforce technology platform and …

As a long-time Washington state resident, and a graduate from Central Washington University, Chase has joined our team despite now living in Arizona with his new Golden Retriever puppy, Finn. When given the chance, he also enjoys snowboarding and hiking.

Direct: 425-753-2721


Rileigh Hamilton – Marketing Coordinator

Rileigh recently joined Level Capital. Bio coming soon.

Direct: 503-704-1106