Scott M. Stern
Founder, President & CEO
Lenders One Mortgage Cooperative
Founded Lenders One to initiate the cooperative business model within the mortgage industry. As of August 2008, Lenders One is the largest alliance of independent mortgage bankers in the United States with 125 member companies and over 1000 total retail locations in all 50 states. In 2007, Lenders One originated over $40 billion in annual mortgage volume, which ranks Lenders One as the ninth largest retail mortgage originator in the United Sates. Responsible for all aspects of day-to-day business including management, sales, marketing, business development and technology.
GERSHMAN INVESTMENT CORP. St. Louis, MO
Vice President, September 1995 – August 2000
Ranked #1 company wide three consecutive years in production of purchase money mortgage transactions. Ranked top 10 nationally in FHA/VA mortgage production. Responsible for the origination, supervision and closings of over $275 million of residential and commercial loans. Supervised a staff of loan processors and closers. Maintained a 98% customer satisfaction level (based on post-closing customer surveys) in high volume, high stress environment. Specialties included personal marketing with high focus on consumer driven marketing vehicles.
Supervisor, Mortgage Loan Processing, December 1992 – August 1995
Responsible for the day-to-day operations of the mortgage origination department. Coordinated activity between the loan processing department and the underwriting, loan insuring, loan closing and loan production departments. Implemented a staffing system that improved efficiency and reduced office turnover. Underwrote over $300 million of FHA, VA, Conventional and Jumbo home loans.
CHASE MANHATTAN BANK Washington, D.C.
Real Estate Acquisition and Disposition Department, March 1991-November 1992
Responsible for all aspects of Mid-Atlantic Region’s portfolio valuation. Managed assets including regional shopping centers, office buildings, industrial office parks, marinas and golf course communities. Total asset value of portfolio in excess of $1.0 billion.
Education
THE UNIVERSITY OF PENNSYLVANIA Philadelphia, PA
The Wharton School of Business, September 1986 – May 1990
Bachelors of Science Degree attained May 1990. Graduated with a triple major in Real Estate, Finance and Management.
Affiliations
MISSOURI ASSOCIATION OF REALTORS
Licensed Instructor, Real Estate License Training, September 1996 – August 2000
Responsibilities include conducting training classes for Licensed Real Estate Salespersons. Each six-hour class contained detailed real estate instruction. Topics covered include sophisticated ownership structures, loan qualification, sales contract law, first-time homebuyer financing and tax advantages of home ownership.
MORTGAGE BANKERS OF AMERICA
Legislative Policy Committee, 1997, 1998, 1999, 2000
FHA/VA Committee, Board Member 1995, 1996
Professional Designations, Recognition
United States Senate, May 2008
Delivered expert testimony to the Senate Banking Committee on matters of the nation’s housing crisis, mortgage crisis and liquidity crisis.
United States House of Representatives, April 2007
Delivered expert testimony on issues related to Government Sponsored Enterprise Reform and Subprime Mortgage Reform.
United States Federal Reserve, Board of Governors, June 2006
Delivered expert testimony on Government Sponsored Enterprise Reform and Subprime Mortgage reform to Federal Reserve Board of Governors including Federal Reserve Chairman Bernard Bernanke.
Radio, Television, Print, Public Speaking: Conducted over 50 radio interviews nationally, have appeared on television on CNBC, MSNBC and KSDK (St. Louis NBC Affiliate) and have been interviewed by the Wall Street Journal, National Mortgage News, Mortgage Originator Magazine, Reuters, Bloomberg and American Banker. Speaking engagements include Mortgage Bankers Association of America, National Association of Realtors, Aspen Institute, United States Treasury as well as numerous state and regional mortgage banker conferences.
“40 Under 40”. St. Louis Business Journal. January 2000.
Recognized as a business leader under 40 years of age for special achievement in the business and volunteer community.
National Association of Securities Dealers. Licensed Securities Dealers, 1997 - Present
Missouri Real Estate Commission. Licensed Real Estate Salesperson, 1991 – Present
Other Accomplishments
United States Tennis All-American. Awarded the honor of United States Tennis All-American in 1986 after compiling a 53-1 high school tennis record over four years.
Second Degree Black Belt. Awarded First Degree Black Belt in 2002 and Second Degree Black Belt in 2006 from Tracy’s International School of Self Defense in Chinese Kempo. Won dozens of local, state and regional Black Belt Karate Sparring Championships.
Ironman. Completed Ironman Triathlon in Louisville, Kentucky in August of 2007 as well as over 30 Olympic Distance and Half-Ironman triathlons and half-marathons.