Mark Gelbman

Walsh College
11 Jun 202421:33

Summary

TLDRIn this Walsh College podcast, host interviews Mark Gelman, a senior loan officer at Union Home Mortgage, Walsh alumnus, and chair of the Troy Chamber of Commerce board. Mark shares his educational journey, career path, and insights into the housing market. He discusses the challenges of inventory shortages, the 'lock-in' effect of low mortgage rates, and the impact on first-time homebuyers. Mark emphasizes the importance of financial education and tailored mortgage advice to help clients achieve sustainable homeownership.

Takeaways

  • 🎓 Mark Gelman, a senior loan officer at Union Home Mortgage, is a proud Walsh College alumnus and the chair of the Troy Chamber of Commerce board of directors.
  • 🏫 Walsh College has a preferred educational partnership with the Troy Chamber of Commerce, offering benefits like educational discounts and access to career fairs for chamber members and their children.
  • 🔄 Mark started his education at Michigan State University, switched majors, and eventually found his path in business, realizing the importance of understanding financials in the workplace which led him back to school.
  • 📚 Mark graduated from Walsh College with a Bachelor's in Business with a concentration in finance in 1987, during a time of campus expansion.
  • 👥 Walsh College was noted for its instructors with real-world experience and a student body of mature, working adults which enriched Mark's educational experience.
  • 💼 After graduation, Mark's career took him from the restaurant business to teaching financial education and then into the mortgage industry, leveraging his financial acumen.
  • 🏡 Mark emphasizes the importance of understanding the financial aspects of homeownership and tailoring mortgage solutions to align with clients' long-term goals.
  • 📉 Mark discusses the current housing market, noting an inventory problem due to a halt in construction following the 2008 financial crisis and the resulting shortage of homes.
  • 🔒 The 'lock-in effect' is keeping many homeowners from moving due to low current mortgage rates, contributing to the inventory issue.
  • 🏘️ There is a growing demand for affordable housing, and Mark suggests that society needs to focus on creating less expensive homes to meet this demand.
  • 📞 For those interested in connecting with Mark for mortgage advice or services, he can be reached directly by phone at 248-758-8431.

Q & A

  • What is Mark Gelman's current role at Union Home Mortgage?

    -Mark Gelman is a senior loan officer at Union Home Mortgage.

  • What educational partnership does Walsh College have with the Troy Chamber of Commerce?

    -Walsh College has a preferred educational partnership with the Troy Chamber of Commerce, offering members and their children educational and rental discounts, as well as access to career fairs.

  • What was Mark's initial academic path before attending Walsh College?

    -Mark initially attended Michigan State University, where he started in pre-med but later changed to business before leaving to work in the restaurant industry.

  • What prompted Mark to return to school and eventually attend Walsh College?

    -Mark decided to return to school to get a degree after noticing that many in the restaurant business could not run numbers or read a profit and loss statement, which he saw as a barrier to career advancement.

  • How did Mark's experience at Walsh College differ from his time at a major university?

    -At Walsh College, Mark found that almost all the instructors had real-world work experience, and the student body was composed of older, often married individuals with families and established careers.

  • What significant campus development was happening at Walsh College when Mark graduated?

    -When Mark graduated, Walsh College was in the early stages of developing the Berry Center.

  • How did Mark transition into the mortgage industry after his time at Walsh College?

    -After working in the restaurant business and teaching financial education, Mark was encouraged by a friend in the mortgage industry to apply his financial acumen and ability to explain complex topics to become a mortgage professional.

  • What is the 'Mortgage Coach' program that Mark mentioned using with his clients?

    -The Mortgage Coach is a program Mark has been using to help clients understand different mortgage options, such as the benefits and drawbacks of a 15-year versus a 30-year mortgage.

  • What advice does Mark give to his clients regarding their mortgage decisions?

    -Mark advises his clients to make decisions based on their long-term goals, cash flow, and ability to sleep at night with their choices, rather than simply choosing the option with the lowest monthly payment.

  • What is the current issue with housing inventory according to Mark's perspective?

    -Mark explains that there is an inventory problem due to a lack of new homes being built following the 2008 financial crisis, leading to a shortage of available homes for sale.

  • How does Mark approach working with first-time home buyers who may be facing challenges in the current market?

    -Mark works with first-time home buyers by exploring various options such as down payment assistance programs and discussing the financial implications of different mortgage choices to help them make informed decisions.

Outlines

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Keywords

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Transcripts

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Связанные теги
Walsh CollegeAlumni InsightsMortgage ExpertHomeownership AdviceCommunity ImpactFinancial LiteracyCareer PathEducational PartnershipReal Estate MarketEconomic Trends
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