Wisconsin

Michael Kellman is senior vice president of consumer lending at North Shore Bank and president of the Wisconsin Mortgage Bankers Association (WMBA). National Mortgage Professional Magazine recently spoke with him regarding his work with his state’s mortgage trade association.
 
How did you first get involved with the Wisconsin Mortgage Bankers Association? Can you share the path that led you to your leadership position?
I got involved with WMBA because I was beginning to participate more within our mortgage side of the business. I had been involved in consumer lending at North Shore Bank, and as my management of mortgage lending grew, I gravitated to the WMBA to gain more knowledge and meet people.
 
I originally contributed as a member of the Single-Family Production Committee and ended up chairing that committee. I had success with that and was then placed on the executive path that led me to secretary, treasurer, vice president and president. My term runs from June 2016 through June of 2017.
 
Why should mortgage professionals in your state become members of WMBA?
As a member of WMBA, you are a part of the only organization dedicated solely to the mortgage profession. Our goal is to strengthen the mortgage lending industry in Wisconsin through education, networking and political activism amongst all stakeholders. I have learned so much from the people in the organization–there are dozens of people who I can call and get real answers to many questions.
 
How is your association involved in shaping legislation at both the state and federal levels?
WMBA has a lobbyist employed to assist with legislative issues within the state. One issue we were involved in was the referendum changing the fee payment structure with the DFI for NMLS licensing fees for loan officers in the state of Wisconsin. Historically, the lender had to pay annual dues for NMLS state licensing fees; these annual fees are due and payable Dec. 31.
Full due fees were required to be paid upon licensing and not prorated if the licensing took place in November and December, then due and payable again in full for the Dec. 31 renewal. Employers were hesitant to hire during that period, since they would have to pay full fees for November or December and again a full fee Dec. 31 for the new year. Now, if they register in November and December, they are licensed for a 13-14 month period and not required to pay twice within a few months.
 
Additionally, WMBA contributed to the passing of Wisconsin Act 376, a new foreclosure bill signed into law. Effectively, the new law reduced the redemption periods involved in foreclosure, and furthermore, it addressed the issue of abandoned properties under Wis.Stat. 846.102
 
At a federal level, we encourage our membership to take an active role and join the Mortgage Action Alliance (MAA). They are kept abreast of federal legislation that may impact our industry and trade and they have an opportunity to speak directly to their members of Congress and state legislators about the impact of proposed legislations or regulations.
 
What has been your greatest accomplishment within the association?
I am proud to have played a part in WMBA becoming the clearinghouse for mortgage-related issues and for helping people find ways to solve problems. Many of our meetings are educational. We have several large financial institutions in Wisconsin, but we also have a huge number of smaller, community banks, mortgage banks and brokers that do not have the staff in place to sift through 1,000-page regulations. WMBA gives them the information to do their job legally and correctly.
 
What is the synergy like between your association and the national MBA?
Members of the WMBA may or may not be members of the national Mortgage Bankers Association. We try to cooperatively align ourselves with the national group because they obviously have a broader reach and more staff to help us stay on top of important issues of the day and solve problems.
 
In your professional opinion, what can be done to bring more young people into mortgage careers?
We recently completed our second year of the Best in Business Awards at WMBA. One category was the Rising Star, a recognition award for Millennials positively affecting our industry. To allow for Millennials to have a greater say in the direction of our organization, we formed a committee made up of our Rising Stars Award finalists. We are excited to receive and implement their input and observe the outcome of their leadership within our organization.
 
This is the hardest demographic to attract, yet the industry is perfectly suited to Millennials because it offers flexible schedules, pays very well, and allows them to help people. The industry is also going greener as we are moving to a paperless environment. We recognize that for us to gain and retain Millennials in our industry, it is vital that we get the word out and take into account their interests while enlisting their participation.
 
What is the housing market like in the state of Wisconsin?
With house prices back to where they were before the Great Recession and the attractive rate environment, our housing market is on the rise. Inventory is still somewhat limited, but we see construction lending now coming into play. Consequently, this is a strong and rising environment.
 
Phil Hall is managing editor of National Mortgage Professional Magazine. He may be reached by e-mail at PhilH@NMPMediaCorp.com.
 
Milwaukee Mayor Tom Barrett was recently joined by representatives from Ocwen Financial to highlight the 2016 results of the partnership between the City and Ocwen. Mayor Barrett, Alderman Michael Murphy and Ocwen announced the partnership at the beginning of last year to provide substantial assistance designed to help Milwaukee homeowners who face economic challenges by administering loan modifications as well as low interest loans to help finance critical repairs to homes.
 
In 2016, more than 260 loans were modified, averaging $225 in monthly payment savings for Ocwen borrowers in Milwaukee. In addition, there was a $6 million total principal reduction at the end of 2016.
 
“I’m pleased Ocwen continues to share my commitment in doing everything we can to keep Milwaukee homeowners in their homes,” Mayor Barrett said. “Residents who own their homes add value and stability to Milwaukee neighborhoods. By fostering public-private partnerships, we are strengthening neighborhoods and enhancing the quality of life for Milwaukee residents.”
 
With Ocwen’s $75,000 contribution to the Mayor’s Strong Home Loan Fund, the City is able to make loans to homeowners for essential home improvements. More than $86,000 was given by Ocwen to support Milwaukee non-profits and seven properties were donated.
 
“Ocwen is pleased to be working closely with the City of Milwaukee and local non-profit organizations who have come together to help stabilize neighborhoods and keep families in their homes,” said Jill Showell, senior vice president of Government and Community Relations. “Ocwen commends Mayor Barrett and Alderman Murphy for their focus on addressing the local challenges and for working constructively with Ocwen to help bring hope and stability to this great city. Through a combination of financial support, property donations and direct outreach to borrowers, Ocwen is helping to make a difference in Milwaukee, and we look forward to continuing our collaboration.”
 
On Feb. 28, the City received Ocwen’s second financial contribution since the partnership’s inception. With Ocwen’s demonstrated commitment to the City, the second phase of the five-part plan for Milwaukee will continue and include the following elements:
 
►Ocwen will continue to enhance its efforts to reach struggling borrowers in Milwaukee by offering sustainable mortgage loan modification options. This assistance is helping qualified customers reduce mortgage payments and avoid foreclosure.
 
►Ocwen made a second $75,000 contribution (providing $225,000 over three years through 2018) to the City of Milwaukee to support the Strong Homes Loan Program.
 
►Working with community partners and the City, Ocwen will conduct three more face-to-face customer outreach events in 2017 in Milwaukee neighborhoods to meet with and help Ocwen customers struggling with mortgage payments.
 
►To assist with community revitalization efforts, Ocwen will continue to work with local non-profits to identify properties for donation, renovation and return to owner-occupancy.
 
►To further enhance its efforts in the city, Ocwen is donating $200,000 over three years to various Milwaukee-based non-profit community groups to help struggling borrowers and to reduce city blight, donating $200,000 over three years Alderman Michael J. Murphy, who has worked consistently for years to bring banks and mortgage lenders to the table to help prevent foreclosures and to stabilize city neighborhoods, said he is pleased with the assistance provided by Ocwen.
 
“We need an all-hands approach in strengthening neighborhoods and helping homeowners avoid foreclosure,” Alderman Murphy said. “This partnership and assistance from Ocwen will help many residents stay in their homes and keep our valuable housing stock stable and viable.”
 
The five point plan is the product of numerous discussions among the Mayor, Common Council President and Ocwen since July 2015. In addition to the plan, Ocwen and City officials have worked together on targeted outreach to delinquent Ocwen borrowers and have increased compliance with City registration ordinances to mitigate issues with vacant and “zombie” properties.
 
GSF Mortgage Corp. has added both Coby Matush and Brian Salak as mortgage loan originators in GSF’s Brookfield, Wis. location

GSF Mortgage Corp. has added both Coby Matush and Brian Salak as mortgage loan originators in GSF’s Brookfield, Wis. location. Both Matush and Salak are new to the industry and have recently completed the Xinnix Training for Loan Officers course as part of GSF Mortgage’s initiative to welcome Millennials into the mortgage business.

Matush is a recent graduate from Indiana University of Pennsylvania with a major in business and a duel focus on HR management and general management. Salak is a recent graduate from California University of Pennsylvania with a degree in business administration with an accounting concentration.

“I have extremely high expectations for both Coby and Brian,” said GSF Mortgage President Chad Jamepdro. “They were chosen to be a part of our expansion project for non-experienced loan originators and they have been excellent selections so far. Both are highly intelligent and extremely hard workers. They have everything it takes to be successful in the mortgage industry, and I am proud that they are beginning their careers here at GSF. You will see great things from both of these young men.”

​GSF Mortgage has named Debbie Beier as chief operating officer

GSF Mortgage has named Debbie Beier as chief operating officer. Previously GSF's general manager, Beier will focus on making each department more efficient and break down the barriers between operations and sales. She will also work on increasing the service level standard at GSF Mortgage.

Beier is a well-established mortgage industry professional and has spent more than 20 years in the industry. The majority of her career has been spent in sales. She started out as an AE in sub-prime lending and transitioned into an account representative on the conforming lending side. She has spent the past eight years at GSF Mortgage where she began as an AE for the wholesale division and transitioned into business development and recruiting. Upon being promoted to general manager, Beier easily transitioned to the operations side of the mortgage industry due to her prior operations background in the insurance finance industry.

“It is my pleasure to introduce Debbie Beier as GSF Mortgage’s chief operating officer," said GSF Mortgage President Chad Jampedro. "Debbie’s commitment to our business and industry is unwavering. Beyond the accolades and titles, Debbie does one thing every day better than anyone else: she cares. She cares deeply about our customers and employees. Congratulations Debbie, the promotion is well deserved and we are all fortunate that we work with her on a day-to-day basis."

Beier was nominated by the Wisconsin Mortgage Bankers Association (WMBA) as a finalist for the Milwaukee Chapter’s Best Mortgage Operations Award.

Outside of GSF Mortgage, Beier is a Girl Scout Troop leader and also serves on the advisory board at Lenders One.

GSF Mortgage has announced that Regional Manager Leo Spanuello has been elected as secretary of the Wisconsin Mortgage Bankers Association (WMBA)

GSF Mortgage has announced that Regional Manager Leo Spanuello has been elected as secretary of the Wisconsin Mortgage Bankers Association (WMBA)Spanuello became involved with the WMBA in 1994 as a way to better position himself in his career. He has held several positions such as the Milwaukee Chapter President and headed up separate committees on the state board including the single-family committee, membership committee and acted as a banker/broker liaison.

Spanuello has been in the mortgage industry for 23 years and has been involved within every facet of the business including mortgage loan originator, managing a wholesale and correspondent division, working for a title company and employed 12 years as a regional manger.

“The value of being involved with the Mortgage Bankers Association is not only the visibility amongst your peers but more so the knowledge and access that you have to make changes at a higher level,” said Spanuello.

Among the WMBA Board of Directors for 2016-2017 include Leo Spanuello, secretary; Jan Brezina, treasurer; Joe Doyle, president elect; Mike Kellman, president; and John Inzeo, past president.

Inlanta Mortgage has announced the relocation of its corporate office to the Jannsen Center in Pewaukee, Wis. to accommodate its expanding operations and administrative staff

Inlanta Mortgage has announced the relocation of its corporate office to the Jannsen Center in Pewaukee, Wis. to accommodate its expanding operations and administrative staff.

“We have experienced consistent and steady growth over the last several years. This year has pushed us to capacity in our current location,” said Nicholas DelTorto, president and CEO of Inlanta Mortgage. “The new office will support our continued growth and expansion as we continue to achieve sales volume of record highs. I am extremely proud of our company and the service we provide to our referral customers, consumers, and the communities we serve. This is such an exciting step for the company as we are nearing our 25-year anniversary. Plus, it is a beautiful location for our corporate headquarters. It is a wonderful testimony to the people in this company, the quality of their work, and our unique culture that has allowed us to survive during rate fluctuations, and assimilate mountains of new regulations within this industry.”

Inlanta continues to expand, now operating 16 offices in the state of Wisconsin alone, and a total of 35 offices in nine states.

GSF Mortgage has announced the addition of Tim Lammers as a mortgage loan originator in Brookfield, Wis., joining the company with 16 years of mortgage industry experience

GSF Mortgage has announced the addition of Tim Lammers as a mortgage loan originator in Brookfield, Wis., joining the company with 16 years of mortgage industry experience. 

“Tim Lammers is a 16-year veteran of the mortgage industry," said GSF Mortgage Regional Manager Leo Spanuello. "Personally, I have had the pleasure of working with Tim for more than 12 years. He has consistently put in the extra effort to make certain his customers are positioned to take advantage of the very best mortgage options available. Any borrower who works with Tim is fortunate to have him in their corner. I look forward to working more closely with him and we are very pleased to welcome Tim to our GSF team!”

Local officials and business leaders recently joined executive team members and employees of Fairway Independent Mortgage Corporation to celebrate the ground-breaking of the company's new corporate headquarters to be located on the east side of Madison

Local officials and business leaders recently joined executive team members and employees of Fairway Independent Mortgage Corporation to celebrate the ground-breaking of the company's new corporate headquarters to be located on the east side of Madison, Wis.

"The employees of Fairway are grateful and humbled to have this opportunity," said Fairway CEO Steve Jacobson. "We will continue to strive for daily improvement, with continued focus on helping and serving consumers with their mortgage financing needs."

Fairway Independent Mortgage is constructing their new 97,000-square foot office on the American Center property, just a few miles from one of its most successful branch offices in Sun Prairie, Wis. Across the street from the current corporate office, the new building will have the added potential of two additions that could increase its size to 150,000-square feet.

GTCR has announced that it has formed a partnership with mortgage technology executive Scott Happ to build a leading business, through the acquisition of Optimal Blue Holdings, a cloud-based software as a services (SaaS) provider

GSF Mortgage has added David Mastopietro, a 20-year veteran to the industry, as a mortgage loan originator in Brookfield, Wis. Mastopietro has worked in many facets of the finance industry, including selling non-conforming mortgages, insurance, collections and loan processing. Mastopietro plans to expand his business by reaching out to his existing client base and real estate agent partners to let them know that he has made the move to GSF Mortgage but is still dedicated to providing the same great service.

“Dave has a great reputation both in the mortgage industry and with his customers. His knowledge and experience as a mortgage lender are a welcomed asset to our Milwaukee-area team," said GSF Mortgage Regional Manager Leo Spanuello. "I am very pleased to have to opportunity to work with Dave, and look forward to getting more of his customers into new homes."

​GSF Mortgage has named Jackie Jones as mortgage loan originator in the company's Brown Deer, Wisc. branch

GSF Mortgage has named Jackie Jones as mortgage loan originator in the company's Brown Deer, Wisc. branch. Jackie joins GSF with 13 years of experience in both the mortgage and real estate industries. She began her career as a real estate agent and became interested in knowing both sides of the transaction. After transitioning to the mortgage side, she found that she was more effective as a loan officer.

Over the years, Jones has built up a large referral base and the majority of her  business by networking with past clients. She is a member of a large church and is established within her community. Jones stays very involved with her customers during the homebuying process. She is passionate about listening and accommodating to server her clients’ best interest. Jones never wants her customers to feel like they are left in the dark during the mortgage process.

“Jackie works extremely hard to find the very best financing options for her borrowers," said GSF Mortgage Regional Manager Leo Spanuello. "Her commitment to her customers and profession are both exceptional. I look forward to working with Jackie and growing her presence in the Milwaukee market."