Barbara Jan Jenkins, CMB
Senior Vice President, Post Closing Department
Market Street Mortgage Corporation
Clearwater, Fla.

About Jan:
I started in retail mortgage banking about thirty years ago working as a loan processor. As years passed, I worked as an underwriter, auditor, compliance officer, and also worked in product development and Secondary Marketing. For the last twenty years, I’ve been the manager of the Post Closing Department which includes: Loan Review, Warehousing & Receiving, Purchasing, Shipping, Final Documents, Investor Suspense, Imaging, and New Loan Set Up. My husband and I live in beautiful Florida one block from the Gulf of Mexico, and work in the Tampa Bay area for Market Street Mortgage Corporation. My hobbies are running and biking.

CMB Motivation and Challenges:
I’ve only been a CMB since June. My boss, Randy Johnson, who is also a member of the National Executive CMB Committee, has been prodding me for years. The perfect opportunity arose in April of this year when the Florida MBA’s CMB Committee (Chair: Ross Bennett), had a unique idea to solicit eligible state candidates and offer an accelerated program for obtaining the CMB designation. The main qualifying factor was whether you had all, or most, designation points to begin the testing process. A group of eight candidates started with a prep course in April, completed and passed our written tests in May and early June, completed our oral exams at the Florida State MBA conference in June, and also graduated at the conference. We credit our State CMB Committee with leading the way, encouraging us, and planning the graduation. It was very well done.

Career Impact:
I believe Randy Johnson, CMB, CEO/President of our company is proud. Market Street is a medium-sized company, but we have six CMBs (three of which are women), and the most of any other company in Florida.

Business Impact:
I believe it exhibits to our customers, both borrowers and investors, the professionalism of the individual and the company.

Importance:
Many people within our organization have always been involved in the MBA and have completed many of the MBA’s educational courses and seminars which have helped us in our careers. I believe the CMB designation evidences the years spent gathering knowledge and experience. I think it’s important for any business to show that their members are professionals and are well qualified. I think the CMB designation does just that.

What is the most significant issue facing the real estate finance industry today?
Many challenges are facing the industry today that we’ve never experienced before. Financial instability experienced by many lenders due to the collapse of the subprime market, the reduction in volume due to tightening of credit standards, and the substantial decrease in home prices in many areas of the country have all been overwhelming challenges. For the folks living and trying to buy homes in Florida, we also are facing huge premium increases for hazard and flood insurance, and significant increases in real estate taxes. Many people are leaving Florida because it is becoming unaffordable for the average homebuyer to buy in the coastal areas of the State.

What are the hottest trends you see that will impact the industry in the future?
The hottest trend is moving back to the basics: FHA, VA and agency products similar to what was offered back in the 1970s. These standard products are accompanied by much more conservative underwriting and credit standards.

How has your experience as a CMB prepared you to handle the issues and trends you listed above?
Studying for the MBA exams and reviewing hundreds of MBA articles regarding the current issues facing the industry were very enlightening and informative. I became aware of how the current issues were being addressed by various congressional committees, and the widely varying opinions of others concerned about these issues.

What advice do you have for those interested in obtaining the CMB Designation?
I would start by becoming involved in some way with the local, state or national MBA so a person can become familiar with how MBA works, and what the organization has to offer. A bonus is that MBA awards points which can be used toward qualification for a professional designation for industry participation. Another recommendation is to become very familiar with the hot topics written by the MBA and which are posted on the National MBA Web site.

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