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Credit Union ConversationsAuthor: Mark Ritter
Welcome to Credit Union Conversations podcast with your host, Mark Ritter, a forward-thinking CEO, who excels in helping credit unions, small businesses, and real estate investors succeed. Join Mark as he explores current trends, interview industry experts, and get fresh insights on optimizing your lending operations and delivering the best possible services to credit union members. More about your host: Mark Ritter is the CEO of MBFS & Nu Direction Lending and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership. In 2002, Mark started a large central Pennsylvania credit unions business lending program as one person and a desk with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation. In 2012, he took on the challenge of being the CEO of a business lending CUSO. Mark was the fifth CEO in five years for the organization, which lost money every month of its existence. Since joining MBFS, Mark increased the number of credit unions the CUSO and revenue by over 10x and ensured positive cash flow every full year hes been at the CUSO. More importantly, MBFS has helped countless credit union members gain the financing they need for business and investment needs. Mark is a native of Berwick, PA in northeast Pennsylvania, where he was a member of his high schools nationally ranked and state championship football team. After high school, Mark hung up his cleats to work for the Penn State Nittany Lions full-time as a student assistant while attending Penn State as an undergrad. During this time Penn State transitioned to the Big Ten and culminated in Penn States first Big Ten Championship and a trip to the Rose Bowl. Mark remains an avid Penn State supporter. Today Mark lives in Bucks County, PA outside of Doylestown wi Language: en Genres: Business, Investing, Management Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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It's A New World For Real Estate
Episode 68
Tuesday, 12 November, 2024
This week, Mark is joined by Greg Schatzke of Servion to discuss the new real estate agency rules and how they impact credit unions. Greg also gives us a state of the world and discusses untapped options for credit unions.IN THIS EPISODE:[2:33]Mark and Ashley introduce themselves[4:02] Servion Group has five businesses under its umbrella[7:00] Rules have changed for real estate contracts[11:14] Greg explains how the NAR changes have created additional paperwork, and there are no standardized documents across the nation[17:06] Ashley explains how this could open the door to discrimination[21:28] What sets mortgage lenders apart?[26:40] Ashley recommends that credit unions take assessments of their performance metrics in all phases of their business[28:27] Ashley reveals the key to success for a real estate agency partnering with a credit union[30:11] The guests make their predictions for the coming years for credit unions, real estate commission structures, and interest ratesKEY TAKEAWAYS: Servion has five business units under the Servion Group: Servion Mortgage, Servion Realty, Servion Residential Title, Servion Financial Advisors and Servion Commercial Loan Resources. All of these businesses work with credit unions across the country.The NAR settlement has reshaped the real estate market, increasing buyers' responsibility to understand and negotiate agent commissions. Nationwide, buyers now need to sign a representation agreement before viewing homes, pushing for greater commission transparency. States like Minnesota, already familiar with buyer representation, will reinforce these practices as buyers adjust to these new requirements.The NAR settlement means that casual home visits are more restricted—buyers can’t simply call the listing agent to see a property unless they've signed a buyer representation agreement. This adds transparency but makes the process more complex. The exception is open houses, where buyers can still look without needing an agreement, but that could lead to additional costs for the buyer down the road.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInServion - WebsiteAshley Rabamahefa - LinkedInGreg Schatzky - LinkedInContact Servion at 800-631-3111BIOGRAPHY: Greg Schatzke is the VP of Mortgage for the CUSO Servion based in Minnesota. In his role, Greg is responsible for overseeing the daily operations of Servion Mortgage and their 500+ retail, correspondent and wholesale partnerships.Ashley is a dedicated professional in the real estate industry, currently serving as an Agent Coordinator and Realtor at Servion Realty. With a background as a Property Manager overseeing portfolios of over 500 units and leading multi-million dollar remodeling projects, Ashley's expertise extends across various facets of real estate.Driven by a passion for helping people, Ashley transitioned to residential real estate as a Realtor, where she finds fulfillment in guiding clients through the home buying and selling process. Her commitment to making life-changing decisions more accessible for others is the cornerstone of her approach.Beyond her work in real estate, Ashley...
