MIRACLE Executive Team

The MIRACLE team benefits from the combined experience of a small team of experienced professionals who are dedicated to its investors and financial success. The MIRACLE team is provided with third party support by only the very best industry professionals.


Frederic S. Richardson, President
Sets strategy and direction, establishes company accountability.

  • Investment Banking since 1985.
  • Member of Building Owners and Managers Association International (BOMA), Apartment and Office Building Association (AOBA), Tenant in Common Association.
  • BA, Economics, University of Maryland, College Park, MD
  • MBA, Finance, American University, Washington, DC
  • Chartered Life Underwriter (CLU), The American College, Bryn Mawr, Pa.
Frederic Richardson was responsible for raising over $1.5 billion of debt and equity financing for private and public projects since 1985. He has extensive experience in investment banking and real estate investments. Mr. Richardson has served as a chairman and majority shareholder of seven publicly traded companies, and has owned and operated two national FHA, VA, Full Eagle Mortgage companies, one of which he took public in 1999.
As Board member of two non-profit organizations, Mr. Richardson demonstrates his commitment to programs that enhance the quality of life for many seniors and low-income residents.

John F. Settles, Vice-President, Mortgage Operations
Designs real estate investment debt solutions.

  • Real Estate Developer and Mortgage Finance Specialist noted for acquisition, development, construction and finance of affordable housing utilizing HUD/FHA, Fannie Mae and Freddie Mac Programs.
  • Senior Vice-President of Alliance Housing Partners, LLC – a national affordable multi-family housing developer.
  • Built and financed HUD Section 202 housing for the elderly. Initiated multi-family projects and financing under Section 42 Low Income Housing Tax Credit (LIHTC) programs and Tax Exempt bonds.
  • Executive Director of UNEDAC (United National Economic Development Action Coalition).
  • Chair, Board of Trustees for regional community development corporation.
  • Senior Vice-President of U.S. Mortgage Network, Boca Raton, FL.
John Settles has extensive expertise in real estate development and mortgage banking derived from over 30 years of challenging entrepreneurial and corporate experience. In addition to being a Senior Vice President of U.S. Mortgage Network (based in Boca Raton, Florida), he has the distinction of being one of the first minority HUD/FHA/VA approved lenders. This specialization enabled him to acquire, develop, construct and finance affordable multi-tenant and single family housing units throughout the country for elderly and low income tenants and other homeowners under the auspices of; HUD, FRA, Fannie Mae and Freddie Mae programs. He has developed a range of housing types including, apartments, co-ops and condominiums for adult, senior and mixed use development with both tax exempt bong financing and low income tax credits (LIHTC).

As its Executive Director, John Settles also provided leadership and support to the United National Economic Development Action Coalition (UNEDAC). In that role, he represented the largest church denominations across the country directing economic, financial and community development initiatives.

He is currently Chairman of the Board of Trustees of a private Montessori School and responsible for the acquisition and construction of the development of its $20M campus. Also, he is chairman of a nonprofit development corporation which is co-developer in a $22M adult condo project in Prince Georges County, Maryland.

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