MINNEAPOLIS– NorthMarq’s leader of its loan servicing business, Karen Pribnow, has announced her retirement at the end of 2013 after 40 years with the company. Pribnow, who built the loan servicing practice from $500 million in 1988 to $41 billion today, is well-known by lenders across the country for her attention to detail, innovations in customer service and a strong practice of due diligence.
“Karen will be missed by the many lenders who are our clients in the loan servicing business. She has grown the department from five in 1984 to 100 today, developing a highly efficient and customer focused management team with great long-term relationships with leaders of all types,” said Mike Myers, NorthMarq’s chief operating officer.
The NorthMarq team services commercial real estate loans on behalf of 50 life insurance companies, Freddie Mac, Fannie Mae, Ginnie Mae and over a dozen conduits for 5,600 loans dispersed over the entire country. In annual satisfaction ratings, the department consistently achieves high marks from clients and an “Above Average” primary servicer rating from S&P as one of the top servicers for Freddie Mac.
Pribnow has been active in the Mortgage Bankers Association, serving over the years on its various committees. She’s also active with the Big Brothers and Big Sisters organization and volunteers for her church.
Bert Libke, senior vice president/director-Servicing, started the transition into the Servicing leadership role earlier this year. He has worked for NorthMarq since 1993, when he began as a loan analyst and has served in a number of roles within servicing during his career. Prior to joining NorthMarq, he worked as a CPA for an accounting firm and spent ten years auditing and working on real estate-related mortgage loans in the aftermath of the Savings & Loan crisis of the 1980’s for Resolution Trust Corporation. Bert has served on a number of committees for the Mortgage Bankers Association and also volunteers for a local homeless shelter and Feed My Starving Children. Bert graduated from the University of Minnesota with a degree in accounting.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily www.northmarq.com.. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit