Mick Stapleton is finance officer with Norris, Beggs & Simpson Financial, a Portland, Ore.-based provider of commercial real estate capital, and president of the Oregon Mortgage Bankers Association (OMBA). National Mortgage Professional Magazine recently spoke with Stapleton regarding his work with his state’s mortgage trade group.
How and why did you get involved with the OMBA? Can you share the track within your association that led to the leadership role?
I was originally involved with the association through attending commercial events throughout the year. Several years ago, a past president of the association asked if I wanted to get involved with the board. I originally served on the Commercial Committee, then as vice president in 2015, and president in 2016. I will be president through the end of the year.
Why do you feel members of the mortgage profession in your state join your association?
OMBA encompasses mortgage companies, individuals and organizations that are active in the mortgage industry in Oregon and southwest Washington. OMBA is an important organization for those involved in originating, funding and servicing loans, as well as the service providers to the mortgage industry because of the association’s dedication to ensuring a healthy environment for mortgage banking in Oregon and southwest Washington. In addition to this, we organize educational events, power breakfasts, happy hour networking events, an annual golf tournament in August, and our annual dinner in December.
What role does your association play in the state legislative and regulatory environment?
We actively work with legislators that have mortgage-related legislation under consideration. The OMBA Legislative Committee works directly with Matt Markee of Markee & Associates, who is the OMBA lobbyist in Salem, Ore., who meets with legislators to help them understand potential concerns that the association may have regarding bills. We also have a Political Action Committee called the Mortgage Industry for Responsible Government (MIRG) that was formed to support worthy candidates for public office who support the mortgage industry.
What do you see as your most significant accomplishments with the association?
The association is run by volunteers—as it has been for more than 60 years—so all accomplishments should be attributed to everyone involved in making the OMBA the strong organization that it is today.
What is the OMBA’s relationship with the Mortgage Bankers Association (MBA)? In your work as OMBA president, have you been to Washington, D.C., to meet with the MBA leadership?
We have an association with the MBA, but operate independently, although we share the dedication in having a strong lending environment—we believe there is power in numbers. I have not been to Washington, D.C., although there have been committees within the MBA that have included members from our organization.
In your opinion, what can be done to bring more young people into mortgage careers?
I think the industry should get involved with students at colleges and universities through mentorship and internship programs. I don’t think that most students are aware of the various opportunities that are available in this industry. This is a profession where you are able to collaborate, build interpersonal relationships, help clients work towards achieving their long-term financial goals and have the potential to make a good living.
How would you define your state's residential and commercial real estate markets?
It is doing very well in both markets. On the residential side, Oregon has been the number one moving destination, according to a survey from United Van Movers, and in June, Portland saw a 12.6 percent year-over-year home price gain, according to the S&P CoreLogic Case-Shiller Index. When I talk to people working in the single-family mortgage market, one reason they are not closing loans faster is because of the long turn time for appraisals. On the commercial side, we are seeing a lot of new developments coming online in the multifamily, office and industrial markets, as well as new development for retail.
Phil Hall is managing editor of National Mortgage Professional Magazine. He may be reached by e-mail at [email protected].
