11-18-19 Mergers & Acquisitions: Growing Loan Volume to $1.5B+
b'When the subprime market collapsed a decade ago there were some people who overcame the challenges and were led by a guiding principal of \\u201cfailure is NOT an option.\\u201d\\n\\nIn our Hot Topic segment today we\\u2019re excited to have Pete Gabrione, COO of Midwest Equity Mortgage / Celebrity Home Loans on the program to share his insights being on both sides of a merger and acquisition!\\n\\nWant to know more about Pete Gabrione?\\n\\nPete Gabrione\\xa0brings 16 years of mortgage experience to his role as the Chief Operating Officer.\\n\\nPete got his start in the mortgage industry in San Diego, CA in 2003. He recognized quickly how subprime lending wasn\\u2019t sustainable and anyone who wanted a future in this industry must figure out a better way. This led him to co-found Midwest Equity Mortgage, LLC.\\n\\nMidwest Equity Mortgage opened their doors in January 2007, right as the mortgage world began to collapse. Using a guiding principal of \\u201cfailure is NOT an option\\u201d, Pete and his partner were able to navigate the troubled times of 2007-2009. The company then went through a tremendous growth phase from 2010 until 2017, opening in several markets and growing loan volume to over $1.5b in 2016 & 2017.\\n\\nIn the summer of 2018, Pete and his partner sold their interest in Midwest Equity and became minority share holders in Celebrity Financial, Inc.\\n\\nPete graduated from the University of Illinois in Champaign/Urbana with a bachelor\\u2019s degree in Kinesiology. While attending Illinois, he played football.\\n\\nRead more...\\nWhen the subprime market collapsed a decade ago there were some people who overcame the challenges and were led by a guiding principal of \\u201cfailure is NOT an option.\\u201d\\n\\nIn our Hot Topic segment today we\\u2019re excited to have Pete Gabrione, COO of Midwest Equity Mortgage / Celebrity Home Loans on the program to share his insights being on both sides of a merger and acquisition!\\n\\nWant to know more about Pete Gabrione?\\n\\nPete Gabrione\\xa0brings 16 years of mortgage experience to his role as the Chief Operating Officer.\\n\\nPete got his start in the mortgage industry in San Diego, CA in 2003. He recognized quickly how subprime lending wasn\\u2019t sustainable and anyone who wanted a future in this industry must figure out a better way. This led him to co-found Midwest Equity Mortgage, LLC.\\n\\nMidwest Equity Mortgage opened their doors in January 2007, right as the mortgage world began to collapse. Using a guiding principal of \\u201cfailure is NOT an option\\u201d, Pete and his partner were able to navigate the troubled times of 2007-2009. The company then went through a tremendous growth phase from 2010 until 2017, opening in several markets and growing loan volume to over $1.5b in 2016 & 2017.\\n\\nIn the summer of 2018, Pete and his partner sold their interest in Midwest Equity and became minority share holders in Celebrity Financial, Inc.\\n\\nPete graduated from the University of Illinois in Champaign/Urbana with a bachelor\\u2019s degree in Kinesiology. While attending Illinois, he played football.\\n\\nRead more...'