Serving the Real Estate Finance Community for over 97 years.
A Message From IMBA’s President: Paul Diamond
It is with great honor that I humbly step into the shoes of IMBA President for 2018.
I have very big shoes to fill. This organization has had some fabulous leaders over its many years. I am grateful to all of them for their commitment and service to our industry.
I especially want to thank Marc Hernandez who committed his time and energy to his role as IMBA President in 2017. 2017 was a year of accomplishment with the Association conducting its first major conference in many years, which was a tremendous success, leading multiple trainings and educational events, organizing a effective golf outing, piloting a Best in Business Awards event, as well as, generating industry activism when necessary, representing and communicating interests and wrapping the 2017 year up with a strong IMBA fiscal position. Like other IMBA Presidents, Marc made sure that the IMBA was stronger in 2018 than it was in 2017, and this association is stronger: in membership, in involvement, and in fiscal achievement, which is a testament to his leadership.
The association has persevered though many economic cycles and has withstood the test of time over 97 years! This association is strong, and this association supports our industry. The IMBA is our “collective” voice. It is us. It serves our interests collectively.
As a lifelong Illinois Resident, I entered the mortgage banking industry back in 1982 after graduating from University of Illinois. Later after many years in the industry, I attended the Kellogg Graduate School of Management at Northwestern where I completed the Executive Management Program.
Never intending to be in the mortgage business, I grew up with a mortgage family. Back in 1982, interest rates were standing at around 9.5%, following the gas shortage. What was I thinking? The mortgage business with a 9.5% rates at a time of a gas shortage? But, the economy was coming off 18% rates so 9.5% sounded pretty good to me.
My mother, who recently passed away, was a true inspiration to me, setting the stage as a super successful mortgage professional woman back in the 60’s and 70’s. She was a trend setter. She broke the ground in our industry for women in leadership positions. She set the stage not only for women in leadership roles in our industry; but, she set the stage for me and many other young entrants to the mortgage lending field.
After several years in the industry, I served in many roles from starting as a loan officer, then a branch manager in the 80’s, to a regional manager in the 90’s, then to Executive Vice President of Production late 90’s into the 2000’s; and now, I am the CEO, founder and majority shareholder, of Diamond Residential Mortgage Corporation, an independent mortgage banking company. I founded DRMC in 2009, operating in 25 states across the US and is domiciled here in Illinois. DRMC is an Agency and GinnieMae approved seller servicer and a growing financial concern employing over 300.
Beyond my service with IMBA, I also serve on the Board of Directors of the Lenders One Consortium and serve on the Foundation Board of Directors for the College of Lake County. In my prior years, I spent 14 years of service on the Affordable Housing Corporation Board for the County of Lake and the Lake County Affordable Housing Commission. I believe in involvement.
As well, I am fortunate man with a wonderful wife, Marla and I am the proud father of 3 boys, two of which are also in the mortgage industry, one who is just about to finish college.
The Illinois Mortgage Bankers Association is our Industry Collective Advocate for us in the State. Together, we do have a voice. As an industry and as an association our voice needs to be heard, or we might get trampled.
Made up of bankers, mortgage bankers, title companies, appraisal companies, technology providers, compliance providers, document providers, attorneys, and many other industry participants, the IMBA provides many opportunities to interact with our peers and share ideas and much more.
“And the times they are a changing”, to quote Bob Dylan.
Our industry is never stagnant. It continues to change, and the winds of change have never stopped in my 35 years in this industry: change, change, and more change. That keeps us on our toes.
We have just experienced 10 years of unprecedented regulatory changes.
As an organization, we need to THINK BIG!
I ask every member of IMBA in 2018, to THINK BIG to protect the interest of our industry and the consumers of our services.
State and Federal Regulators and government officials need our input and our guidance. We are the boots on the ground.
Just to highlight a couple quick thoughts, not new ones, but ongoing ones:
- We are an aging industry. We need new young industry entrants. How do we help our members move the ball forward?
- We are technologically a behind the times industry. Where do we go from here? How can we help our members move the ball?
- The industry reputation and the consumer confidence in our industry is still harmed due to the financial meltdown of 2007. How do we, as an Association, help to improve the public’s perception and trust?
- The cost to originate and produce a mortgage loan is at the highest level in industry history. How do we assist our members in finding ways to reduce cost and benefit the consumer?
The IMBA is an Association of those who care enough about this industry to put aside partisan business interests and to work collectively together towards the good of the industry so that we all can better serve our clients and plant the seeds of tomorrow.
What a journey our industry and this association has traveled. This journey continues! I predict 2018 will be a great year!
Annual Sponsor Partners