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SAN DIEGO—GlobeSt.com joined hundreds of independentmortgage brokers for the third annual MBAIndependent Mortgage Brokers Conference this week at theiconic Hotel Del Coronado here. While the weatherwas uncharacteristically rainy, attendees didn't seem to mind asthey listened to the panel sessions from deck chairs in theChristmas-decorated ballroom overlooking the beach.
During the CEO Forum, moderator StanleyMiddleman, president and CEO of Freedom MortgageCorp., asked the panelists what were the necessaryelements to putting an independent mortgage bank together.William Newman, CEO and president of HomePoint Capital, said access to capital and liquidity arecrucial elements, along with great people who can work together,understand the market and want to build something to meet thefirm's objectives and create value. He pointed out, “There are moreconstraints in financial institutions than in independent banks.”And he added, “Have a partner who understands the cyclical natureof the business and has patient capital.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
