Our guest, Mark Ritter is the CEO of Member business financial services MBFS which is owned by 13 credit unions and designed to help credit unions fund more loans to real estate investors. Mark has been the CEO for nine years and grown the company to work with more than 75 credit unions. Mark joins us from Bucks County, PA where he lives with his wife and two teenagers.
- What is a credit union and why are they different?
- Who can access a credit union?
- Why consider a credit union for your investment real estate loans?
- What are the biggest mistakes people make when shopping for a real estate investment loan?
- What is the process like getting a loan through a credit union?
- What types of financing are available?
- What is the market like these days for getting a real estate investment loan?
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Biography of Mark Ritter:
Mark Ritter is the CEO of MBFS and Nu Direction Lending. He is an expert in all things credit union and small business lending. Both organized are owned by credit unions and designed to help credit unions fund more loans to real estate investors and small business owners in their communities.
In 2002, Mark started Members 1st Federal Credit Union’s business lending program as “one person and a desk” with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation in the number of loans, balances outstanding, and loan participations for federal credit unions. After ten years at Members 1st, he took on the challenge of being the CEO of a business lending credit union service organization (CUSO). Mark was the ﬁfth CEO in ﬁve years for the organization, which lost money every month of its existence. In the past eight years at MBFS, Mark increased the number of credit unions the company services by over 8x, grew the revenue by 15x, and ensured positive cash ﬂow every full year he’s been at the CUSO. More importantly, MBFS has helped countless credit union members gain the ﬁnancing they need for small business and real estate investment needs.
Mark is a native of Berwick, PA in northeast Pennsylvania, where he was a member of his high school’s nationally ranked and state championship football team. After high school, Mark hung up his cleats to work for the Penn State Nittany Lions full-time as a student assistant while attending Penn State as an undergrad. During this time Penn State transitioned to the Big Ten and culminated in Penn State’s ﬁrst Big Ten Championship and a trip to the Rose Bowl. Mark remains an avid Penn State supporter. Today Mark lives in Bucks County, PA outside of Doylestown with his wife and two teenagers.