Michelle Knoebel, CMB, AMP
Vice President
Chase
Jacksonville, Fla.

About Michelle:
As manager of the Mandatory and AOT Trade Desk for Chase, one of the largest Correspondent lenders in the nation, my primary responsibilities are driving incremental volume and increasing market share.

CMB Motivation and Challenges:
I have been a CMB since May of 2007. I was motivated to become a CMB because it is the preeminent designation in the industry. I have also had the good fortune to work for and be mentored by a CMB. The most difficult challenge to obtaining the designation was managing a demanding career during the recent market conditions while still preparing for the exams.

Career Impact:
It has increased my exposure to a vast network of CMB professionals.

Business Impact:
The CMB has increased my knowledge in all aspects of the industry and enabled me to make more informed, intelligent decisions from a more global perspective.

Importance:
Chase recognizes the importance of the MBA and has been a strong supporter. They encourage employees to pursue the educational opportunities the MBA provides, including the various courses through the School of Mortgage Banking and the pursuit of the CMB designation.

What is the most significant issue facing the real estate finance industry today?
The most significant issue facing the real estate finance industry today is the current illiquidity in the non-agency market due to the recent "sub-prime meltdown". This impacts all non-prime borrowers. Foreclosure rates will increase as ARMs reset. We need to revisit underwriting standards, reestablish confidence in the investor community and curtail any legislative action that is not reasonable and does not include federal preemption.

What are the hottest trends you see that will impact the industry in the future?
The flight to quality will continue and the GSEs will resume playing a larger role in the secondary market.

How has your experience as a CMB prepared you to handle the issues and trends you listed above?
My involvement with the CMB has encouraged me to increase my participation in the Mortgage Action Alliance. The MAA, the advocacy arm of the MBA, empowers you to advocate on issues affecting the real estate finance industry and your business.

What advice do you have for those interested in obtaining the CMB Designation?
I would recommend future CMBs focus on finding a mentor and take the CMB prep class. The prep class takes a significant time commitment but assures you'll be ready for the exams.

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