Colorado

Supreme Lending has expanded its Southwest territory with an additional branch in the Denver, market, to be led by industry veteran Carlos Ruiz who has been selected to manage the branch
Supreme Lending has expanded its Southwest territory with an additional branch in the Denver market, to be led by industry veteran Carlos Ruiz who has been selected to manage the branch. The new Denver branch services borrowers throughout the state of Colorado, and https://www.supremelending.com/has plans to expand into California and New Jersey this year.
 
Ruiz has been in the mortgage industry for 25-plus years and has strong knowledge of the full range of government, conventional, non-conforming and jumbo mortgage products. Throughout his two and a half decades in the industry, Ruiz has built a reputation for easy accessibility and strong product knowledge.
 
“I love getting my clients the best deal possible,” said Ruiz. “My job is to help borrowers choose the best loan program based on their unique needs, goals and financial situations—that includes interest rates, but it also includes much more. If a loan officer is looking strictly at rates, he’s probably doing his borrower a huge disservice. I review each file weekly to stay on top of any changes, because even small changes can impact the rate or terms of a loan. After having closed over 10,000 loans, I’ve learned how to get my clients the best rate possible. Each of my clients benefits from the thousands of others that came before them.”

 
Paramount Residential Mortgage Group Inc. (PRMG) has named Cathy Modafferi Brogan as retail regional manager for the state of Colorado
Paramount Residential Mortgage Group Inc. (PRMG) has named Cathy Modafferi Brogan as retail regional manager for the state of Colorado, bringing more than 30 years of experience in mortgage Paramount Residential Mortgage Group Inc. (PRMG) has named Cathy Modafferi Brogan as retail regional manager for the state of Coloradobanking. Formerly, as chief executive officer at Northstar Alliance, she directed the mortgage banking, real estate and appraisal units, surpassing company expansion goals and working with the government to train and place candidates for banking positions in both the private and public sectors.
 
In her new position, Brogan will be focusing on providing continual guidance and support to existing branches residing within the state of Colorado, looking to recruit experienced and motivated individuals interested in branch opportunities, as well as originating opportunities while seeking to expand the production platform throughout the Rocky Mountain region and beyond.
 
“I want to give to those who have so freely given so much to me over the last 30 years”, Brogan said.
 
Brogan will report directly to PRMG’s SVP, Director of National Retail Production Chris Sorensen.
 
“We very are excited about the addition of Cathy Brogan to the PRMG Retail team,” said Sorensen. “Along with her experience, education and proven track record, we are confident that she will be successful in helping us grow the Colorado, Rocky Mountain Region as we continue to expand our national retail platform across the country.”

 
Denver’s vibrant housing market has run into a peculiar supply-and-demand imbalance
Denver’s vibrant housing market has run into a peculiar supply-and-demand imbalance: There is a surplus number of real estate agents and a growing scarcity of real estate listings.
 
According to a Denver Westworld report, the Colorado Department of Regulatory Agencies (DORA), which oversees the state's Division of Real Estate has determined there are approximately 21,000 active real estate agents in Denver, out of 35,000 for Colorado as a whole. However, the leading real estate brokerage websites report a low inventory in the Mile High metro: Zillow lists 1,880 homes for sale in Denver, while Realtor.com shows 2,478, Trulia has 2,218 and Redfin has 1,806. (These numbers do not take into account duplicate listings on multiple sites.)
 
Scott Grossman, board chairman for the Denver Metro Association of Realtors, stated that his organization saw about 118 new members a month over the last six months, and he added that “probably 15 percent of the licensees out there are driving in about 80 to 90 percent of the business.” But he also cautioned that the alleged glut in agents should be viewed in proper perspective.
 
“Not everybody getting their real estate license is necessarily going to be into selling real estate full-time,” he said. “You have your commercial people in there, you have people who are maybe into investing and just want to save on the commission—maybe for family. You see that a lot, since there are such low barriers to entering the field. It's fairly easy and relatively inexpensive to get started in this business.”

 
VIP Mortgage has announced its expansion in the state of Colorado with a new branch in Colorado Springs and a team of seven seasoned loan officers and processors. This move marks the third branch opening within the state for VIP, with their first Colorado brick and mortar in the Centennial-Denver area. The company has plans to open in the Northern Colorado territory with a Fort Collins location later this year.
 
VIP has appointed Loan Officer Tim Duvall to lead the team as branch manager in Colorado Springs. Duvall is a veteran of the mortgage industry and has over 14 years of residential mortgage lending experience.
 
“We are proud to add Tim Duvall and welcome his team to the VIP family”, said Jennifer Tulcan, executive vice president of National Sales for VIP Mortgage. “The addition of VIP Mortgage in Colorado Springs will offer homeowners, homebuyers and real estate agents alike a personalized, high-level client service and enhanced mortgage experience.”

 
Norcom Mortgage has continued its expansion, opening a new branch in the Western United States in Denver, and has appointed Andrew J. Hulko, who has worked in the mortgage industry since 2000, as branch manager of the new Denver office
Norcom Mortgage has continued its expansion, opening a new branch in the Western United States in Denver, and has appointed Andrew J. Hulko, who has worked in the mortgage industry since 2000, as branch manager of the new Denver office.
 
“I’m very excited to welcome Andrew Hulko to the Norcom Mortgage family,” said Greg Radding, Norcom’s vice president of Retail Lending. “Andrew possesses a great knowledge base, and has been successfully servicing the Denver Colorado marketplace for years. Andrew and his team will provide honest mortgage guidance and superior financing options for the clients and referral sources they service. We look forward to sharing in the growth and success that Andrew will experience here at Norcom.”
 
Hulko is excited to be a part of the Norcom family and looks forward to Norcom’s strength in communication, community lending practices, common-sense underwriting, and its commitment to excellence in all phases of the industry.

 
The lack of affordable housing the greatest economic problem facing Colorado residents
The lack of affordable housing the greatest economic problem facing Colorado residents, according to a new survey conducted by Colorado Mesa University in conjunction with the Center for Opinion Research at Franklin & Marshall College.
 
According to a report by The Denver Channel, 14 percent of survey respondents cited housing as the biggest issue facing their community, followed by 10 percent who said the economy is the most important problem, with nine percent of respondents pointing to crime/drugs/violence, seven percent raising a red flag over education and six percent complaining about government.
 
When asked if they agreed or disagreed that there was adequate access to affordable housing in their community, 62 percent of Coloradans said they disagreed. The problem of affordability was particularly acute in the Denver metro area, where 67 percent of respondents said they disagreed—compared to 65 percent in south-central and eastern Colorado and 48 percent on the Western Slope.
 
As for politics, 52 percent of respondents said President Donald Trump was doing a poor job, while 32 percent said he was doing a good or excellent job. In comparison, 49 percent of people said Governor John Hickenlooper was doing a good or excellent job, while 56 percent of people were pleased with the work of their city and county governments.
Legalized marijuana has created an extraordinary level of new activity in Denver’s commercial property market
Legalized marijuana has created an extraordinary level of new activity in Denver’s commercial property market.
 
The New York Times, citing a CBRE Research report, has found that 36 percent of Denver’s new industrial tenants between 2009 and 2014 were marijuana businesses. In 2015, nearly four million square feet of industrial space, or three percent of the city’s warehouse space, was occupied by marijuana cultivation businesses, while the local warehouse vacancy rates fell from 7.5 percent in 2010 to 3.7 percent in 2015.
 
Retail properties have also benefited from legalized marijuana: there were approximately 200 marijuana stores in Denver as of 2015, located in such diverse locations as converted gas stations and high-end storefronts. However, this market shift has seen some problems: landlords have been known to demand two to three times higher rent for marijuana businesses, and the retail price of Denver-area marijuana has been falling as supply outpaces demand. 
The Colorado Mortgage Summit will be held Tuesday, September 19 at the Denver Marriott Tech Center, located at 4900 South Syracuse Street in Denver.
 
For more information, call (860) 719-1991 or visit COMortgageSummit.com.
On Thursday, April 20, the 26th Annual Rocky Mountain Mortgage Lenders Expo will be held at Sports Authority Field at Mile High, 1701 Bryant Street in Denver, Colo. Network with over 1,000 Industry Professionals from throughout the Region.
 
Topics at this year’s Expo include:
 
►Averting an Appraisal Crisis, Dealing with the Appraiser Shortage in Colorado”
►Day 1 Certainty, Understanding FNMA’s New Income/Asset Verification Process
►Targeting Top Agents, a High Producing Realtor Panel.
►Compliance Risks of Social Media
►Strategic Initiatives that Grow Market Share
►Social Media Lead Generation
 
Speakers include Casey Cunningham and Sarah Federico of XINNIX, Inc., Howard Lax of Bodman PLC, Ray Hutchins and Mitch Tanenbaum of CyberCecurity LLC, Kris Boesch of Choose People and Hollie Clere from The Social Media Advisor. This one-day event combines industry education and an opportunity to learn about the latest trends in technology, lending, compliance, and marketing. More than 100 exhibitors will be showcasing their lending products, software, and resources.
 
“This year’s program is our largest ever, featuring 30 presenters that every mortgage professional can glean new knowledge from,” says Tom Donnegan, CMLA Board of Directors President. “Whether you are in sales, operations, or executive leadership, this is the must attend event of the year.”
 
For more information, call (303) 773-9565 or visit CMLA.com.
 
VIP Mortgage has announced the opening of its newest Tucson branch, to be led by Branch Manager Letty Huffman

VIP Mortgage has announced its expansion into the Colorado market by hiring industry veterans Jennifer Tulcan and John Suggs to lead their efforts. Tulcan joined VIP as executive vice president of National Sales and Suggs joined the company as VP of Process Management.

Tulcan, a Colorado native will oversee the company’s growth, while continuing to help develop sales with a heavy emphasis on the Colorado market. Currently, VIP has one branch, located in Lone Tree, Colo., with plans to add several more throughout the Front Range area.

“I am thrilled to be part of such a highly reputable and well-established mortgage lending company,” said Tulcan. “Being able to lead the expansion in my home state of Colorado gives me an enormous sense of pride.”

Suggs’ responsibilities include the successful implementation of all company strategic initiatives. The department of Process Management directly manages the strategic projects in varying degrees to ensure their success.

“With Colorado currently experiencing a ‘hot’ real estate market, VIP looks forward to working with both borrowers and realtors to make the home buying experience as pleasurable as possible,” said Suggs.

“Our hope is to bring the ‘HEART’ that VIP is known for to both consumers and loan officers in my home state, specifically the Denver Metro area, Fort Collins and Colorado Springs,” said Jay Barbour, founder and president of VIP. “People with HEART can do more together than they can do alone, and we welcome hard-working, entrepreneurial-type individuals that can help us with our efforts to continue to bring responsible lending to our customers.”