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 invited to join the OMBA board after finishing a seven-year progression through the local MBA board and chairs. I accepted the position because I think that it’s our responsibility to serve our industry and give back to our profession. I started as a board member and was invited to join the executive board as secretary, treasurer, vice president and currently, as president.
Why do you feel members of the mortgage profession in your state join OMBA?
I believe our association provides tremendous value to our members in several key areas: Advocacy at the state level, training classes that help build skill inside their organizations and quality sessions at our Annual Convention. We provide benefits to all employees of each of our member companies, and provide a diverse offering of training seminars.
What role does your association play in the federal and state legislative and regulatory environments? Are there any items on the current agenda you would like to highlight?
We work hard to provide significant advocacy in our state. We’ve built our Political Action Committee to one of the larger PACs in the country and use that leverage to build relationships with key committee members in the legislative bodies. We’ve hired a professional lobbyist and have worked hard to build relationships with our regulators. Our partnership with the national MBA has given us model legislation to propose, and we were successful in advancing a "Vacant and Abandoned Properties” bill that has been signed into law. It will provide large cities with the opportunity to move properties quicker through the process and get them back into the hands of homeowners instead of being a blight in our cities.
We are currently working on a licensing bill that will simplify and modernize our licensing structure in Ohio to keep up with the changes in the industry. We’ve worked with other stakeholders in the community to advance this legislation and have been strongly supported by the national MBA in our efforts.
What do you see as your most significant accomplishments with the association?
Our association was in a strong place when I arrived on the board, and I am most proud of the fact that we have kept up the momentum moving forward. The legislation is complicated and time consuming, and we have stayed focused on moving it forward inch-by-inch. Our annual convention attendance continues to grow, and this has drawn additional sponsors and energy to our biggest event of the year.
What is the synergy like between your organization, the national MBA and other mortgage and real estate trade groups?
Our executive director, Marianne Collins has long been active in MBA committees and is very well respected at the national level She has helped us forge a great partnership with the national MBA. She also is married to our local association president, and therefore, attends a number of National Association of Realtors (NAR) functions and speaks on behalf of the mortgage industry on their expert panels. This is a tremendous advantage for our association on many fronts, but especially from a collaboration perspective.
In your opinion, what can be done to bring more young people into mortgage careers?
This is a challenge that we face as an industry and are working on multiple solutions to solve it. This past year, our Education Committee Co-Chairs Teresa Rose and Kim Dybvad have been working with the MBA to introduce an internship program for college students interested in a career in mortgage banking. We’re using the experiences of one of our most active members, Union Home Mortgage, who annually hosts 70-plus interns each summer, to provide a template for other members to use to attract the next generation of mortgage bankers to our industry. Teresa and Kim have explored a number of different options to get to this point, and we are anxious to put this program in motion.
How would you define your state's housing market?
Our market is still in recovery. Ohio is a very diverse state with a diverse economy. With a statewide average sales price of $228,000 and growing home sales and prices, it’s still an affordable place to live.
However, the northern part of our state is very dependent on the manufacturing aspect of our economy, especially the automotive industry. The central and southwestern portion of the state are more service-based economies. While prices are creeping up, we haven’t reached pre-recession levels and, as a result, there is a shortage of listings.
►Timothy Krichbaum has been working in the mortgage industry for 16 years, after he was first introduced to the trade while in his last semester at Otterbein College. Krichbaum will serve as area sales manager, helping to expand GSF’s retail branches and footprint throughout the U.S.
►David Darr is a Kent State University alum who has been in the mortgage business for four years. He joins GSF as a loan originator, and says he enjoys helping people improve their financial position.
►Jon-Michael Majkut joins GSF as a loan originator. The Ohio State alum, and hockey enthusiast, Majkut has served in the mortgage industry for five years. With his new role, Majkut looks forward to making the mortgage process a positive experience for all his clients.
►Ross Martin is also an Ohio State University graduate. A professional in the mortgage industry for six years, Martin joins GSF as a lead loan processor.
►Joseph Arvay has been in the mortgage industry for 14 years, and joins GSF as a loan originator. He plans to put his marketing major from the University of Akron to use, by sharing the benefits of homeownership with military service members, and connecting with local builders, realtors and clients.
►Mary Gellar joins GSF as a junior processor. Gellar will be responsible for preparing loans to submit to the processing department.
►Brett Martin has served in the mortgage industry for five years. He joins GSF as a system support trainer and says he hopes to build a network within the community and transform his new role into a lifelong career.
►Jerime Loyd joins GSF also as a system support manager, after serving more than 17 years in the mortgage industry. He hopes to assist each banker to reach their professional goals, as well as connect with local businesses to help expand GSF’s reach in the Akron market.
►CJ Simpson entered the mortgage industry following graduation at Kent State University in 2007, and joins GSF as a marketing manager. He is excited to help Akron residents realize the dream of homeownership, and to help the lender become a leader in service excellence.
►Evan Vanover is a former Marine and has served in the mortgage industry for more than a decade. He joins GSF as a loan officer, and looks forward to meeting with people from all walks of life and helping them to reach their homebuying dreams.
Schmidt Mortgage Company has announced the addition of John Kulka as manager of new business development. A 25-year mortgage industry veteran, Kulka brings considerable experience in cross-selling mortgage products across related industries, affinity marketing and retail mortgage lending.
“Ohio has seen a steady increase in mortgage volume, and with John’s ability to create additional business opportunities via cross-selling to the relocation and moving industries, we anticipate that Schmidt will be able to capitalize on increased market interest for mortgage products,” said Schmidt Mortgage Executive Vice President Jeffrey Steed.
Prior to joining Schmidt, Kulka served as business development manager for Ohio-based mortgage lender, SIRVA Mortgage, where he helped increase yearly volume from $250 million to more than $1 billion over his 14-year tenure.
“As a lifelong northeast Ohio resident, I’ve known of Schmidt Mortgage Company’s reputation for years. I was eager to join an organization where the entire staff is dedicated to serving both our retail customers and our wholesale lending partners,” Kulka said. “As the industry continues to change, I feel Schmidt Mortgage is well positioned to grow from both a retail and wholesale standpoint, and I look forward to the challenge of building on our already solid reputation and performance.”
Getting affordable housing constructed can be challenge, to be certain, but the location of that housing can often create problems rather than solutions—a situation that is currently playing out in the Dayton, Ohio, metro area housing market.
According to a Dayton Daily News report, Low-Income Housing Tax Credits were used to help fund affordable housing developments in this metro area. But a report by the Legal Aid Society of Southwest Ohio noticed something wrong: Nearly six in 10 affordable family units were being located in communities where 75 percent or more of residents are African-American, while more than one-third of these new units were constructed in high-poverty areas. In comparison, 3.4 percent of these units were built in Dayton area communities with lowest levels of poverty.
Matthew Currie, managing attorney at the non-profit Advocates for Basic Legal Equality, questioned the placement of the affordable housing units.
“Generally speaking, Low-Income Housing Tax Credit awards end up in areas that are high poverty and areas of high racial concentration,” Currie said, adding that the state government needs to intervene to prevent this type of situation from being repeated.