http://www.remaxtexas.com/careers.aspx?pid=3441

Carver Communications - Index

Carver Communications - 4.1.09 - Index

Affiliated Bank Mortgage
In one of the industry’s more unique
beginnings - Affiliated Bank opened its
doors in 1959 as an Affiliated Federal Credit
Union and on June 1, 1998 the Credit Union
converted to a Federal Savings Bank.
According to Joe Barnhart, Manager
of the Mortgage Division based in Fort
Worth, Texas, “To stay adequately capitalized
to support our growth, in May 2001,
Affiliated Bank became a stock savings
bank, organized in the form used by other
commercial banks, most major corporations
and a majority of savings institutions. The
change enabled us to expand operations,
including increasing lending and investment
activities.”
“In December, 2008, we dramatically
expanded our residential mortgage lending
capacity by acquiring a complete mortgage
operation from another local financial
institution: That move provided immediate
access to virtually all facets of the permanent
residential mortgage markets, giving
the company the capability of originating
FHA, VA and conventional mortgage loans
plus access to all major secondary market
mortgage products and enjoy delegated
underwriting status with major investors.
They also now have FHA Direct
Endorsement and VA Automatic Approval
with LAPP authority.”
Simply put, “We are committed to
maintaining the high level of service to
which our customers have grown accustomed,
and continue to promote our “community
bank” image by providing a comfortable
and friendly environment in which
to conduct financial business.
In addition to the San Antonio office,
currently the company has offices in
Arlington, Austin, two in Bedford, Fort
Worth, Houston, Southlake Texas and one
office in Oklahoma City, OK. Plans are to
fund 800-100 million by 2010 in the San
Antonio office alone. At the branch level, inhouse
processing and underwriting are
expected to brow the branch further.
Currently, seven employees staff the local
office, with plans to expand to 12-15
employees by mid-summer. The total number
of employees in the mortgage division is
currently 40.
According to Jack Shull, Vice
President and San Antonio Branch
Manager, “What sets us apart from our
competition is our ability to offer a compet-
April, 1 2009 REAL ESTATE NEWSLINE 23
itive price using technology such as Optimal
Blue, which will allow us to find the lowest
price in the marketplace to offer a customer.
Most national mortgage companies only
have their own price to offer. However,
make no mistake; we still have an excellent
in-house processing and underwriting staff
which will allow us to offer the fastest service
as well.
Shull, who previously owned
Sonterra Mortgage Capital, LLC sold his
interests in Sonterra last year and joined
Affiliated Bank Mortgage in December. “I
was fortunate to bring my core production
and operations group over with me when we
opened in December. This core group is the
group that I have worked with since 1998.
This is the group that was earned the award
as top production office in the nation when
we were at Principal Residential Mortgage
in 2002.”
As to products – Shull says they’re
pretty vanilla with all lenders these days.
The days of “Stated Income, Stated Assets
and No Documentation loans are long
gone.” We offer FHA, VA, Conventional,
Jumbo loans, but we also offer Affiliated
Bank Portfolio products as well.”
Utilization of Optimal Blue enables us to
lock in the lowest available rate, and our
Secondary Marketing Department then
places the loan with the investor.
“We stay very busy, with rates this
low due to the current economy,” says Shull.
“San Antonio is one of the best markets in
the country and will be, as we continue to
move forward. The city simply does not
have a large inventory of unsold homes as so
many other places in the country have –
Jack Shull
which works in our favor.”
Further, “We are staffed with
employees who have worked in the local
marketplace for many years,” says Shull,
who has been in the mortgage lending business
since 1984, “Sr. Loan Processor
JoAnna Johnson, since 1980 and Patricia
Kosmalski, the branch’s top producing loan
officer, since 1995, so we have the experience
and longevity in the industry to perform,
and perform well.” And that they do!
For more information, call 210-348-
8100. And, this is also the business telephone
number that Jack, Trish and JoAnna
have had from 1997-2006.