Roundtable Discussions with Cal Haupt and J.D. Crowe Today’s Guest: Mitch Kaminer [Part 1]
Cal Haupt, president and CEO of Southeast Mortgage of Georgia and J.D. Crowe, Senior Vice President of Southeast Mortgage of Georgia recently sat down with Mitch Kaminer, associate broker with RE/MAX Paramount Properties and President of the Atlanta Board of REALTORS to discuss the current state of Georgia’s real estate industry.
View the Roundtable Discussion below, or on YouTube.
The purpose of these Roundtable Discussions is to engender a deeper understanding of the mortgage industry. In today’s episode, Cal and J.D. speak with Mitch about his impression of mortgage companies:
“I’ve been selling real estate for about 17 years now, and in my mind there were two types of companies: there was either the lender or the broker, and there was no in the middle or deviation from that. So, it was interesting to hear that [Southeast Mortgage] was not either or both.”
It is a common misperception that the only options for a mortgage are banks and brokers. In reality, there are companies that are similar to banks, with their own funding sources or using warehouse lines, but they have higher certifications from the aspects of the seller servicer with Fannie and Freddie, a HUD Title II DE.
“Southeast Mortgage is a licensed lender in Georgia and across the Southeast, but not chartered as a bank. I think we’re the best of both worlds, because we fall somewhere in between a bank and a broker. We have more certifications than the banks, but we’re able to access the wholesale market, and we have the ability to go directly to Fannie & Freddie. So, we have multiple investors, yet we’re able to maintain control the process of the underwriting.”- J.D. Crowe