News: Brokerage

Get to know Dale Siegel of Circle Mortgage Group

Describe how you chose your profession and how you have succeeded in this industry? I began in the real estate industry as an attorney. Over the years of doing transactional and bank work I realized that the finance end of the deal intrigued me more. I became more involved in finding the money rather than closing the loans and finally took that on as my primary job. What are your proudest accomplishments so far this year and what are you looking forward to in 2013, in a personal or business sense? After four months of research and writing, I just completed another textbook for NMLS continuing education. This time around, it was grueling as I tried to come up with new topics to produce an interesting text on the material. I am once again upgrading the technology we use over the next few months, making the communication with clients even more streamline and mobile. How is the market doing, from your perspective? I don't believe we are yet into a recovery phase. I also think the housing market will suffer from the aftermath of Sandy in the New York market rather than prosper as others might see it. I am nervous for homeowners trying to collect from insurance companies that low ball appraisal values to not pay out the full amount of mortgages due. This will assure financial hardship for already strapped and stressed people. Describe something exciting that just happened at your company. We did not lose any power or internet during Sandy and were able to continue to work and thus not fall behind on our loan processing. If you could use one word to describe your work environment, what would it be? Streamlined. Describe a typical day at Circle Mortgage Group? Each day begins with a to-do list. The key is to be able to work through that list in a systemic manner so we can see progress daily. The work environment is clean and quiet, with very little paper, music and unlimited amounts of caffeine. What are the ups and downs in your business? Like any sales position, it is a constant pressure to bring in more deals while closing what you have. The fear of any salesperson is that after you close out what you have there will be no more. So it brings on the constant stress of selling. I dream of a job where I can take a hiatus and come back to it being exactly what is was before I left. But, that could never happen here! Dale Siegel is president of Circle Mortgage Group, Harrison, N.Y.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.