Hello, my name is George Omilan (NMLS #873983). I am the President and Principal of Jefferson Mortgage Group LLC. My company was founded as a Virginia based mortgage provider primarily focused on loan programs such as Reverse Mortgages for seniors 62 and above, Harp 2.0 loans, and other Niche type programs designed to fill a specialty need for the consumer market place. We are licensed to do business in Virginia, Maryland, DC and Pennsylvania.
My career in mortgage banking began in 1987 as a Loan Officer for a national bank serving the needs of the general public for residential mortgages. After three years as an employee I embarked on a mission to go out on my own and start my predecessor company Jefferson Mortgage Group Ltd. Jefferson, the corporation, thrived for seventeen years providing both residential and wholesale mortgages. In January 2001, we embraced a unique growth opportunity to affiliate with a public bank in an effort to expand our lending footprint from ten to forty states. The business was grand and full of exciting new growth opportunities until August 2007 when we found ourselves engulfed in an epic crisis never before seen in the secondary mortgage market. As I witnessed the crisis unfold before my very eyes it was obvious no one person could stop the inevitable implosion. However, the experience I gained operating in conjunction with a publically traded bank was incredible. I would do it all over again but the decision I made at the time was to protect our capital in light of the crisis and cease operations.
For the past five years, I have been indirectly involved in mortgage lending helping homeowners with Short Sales and Debt Mitigation utilizing my expertise from the recovery side of lending as an advocate for the distressed homeowner. The Short Sale Negotiator in conjunction Tucker & Associates PLLC, a local real estate law firm, has helped hundreds of homeowners with permanent mortgage solutions since 2007. This is an accomplishment that I am very proud of and it would have not been possible without the extensive mortgage experience I acquired over the past decade.
Today, five years later, as I survey the damage the mortgage business looks very different than it has in the past. Many people have been driven out of a business that they would characterize as over regulated and too risky. Where others may see over regulation and despair, I see opportunity. Jefferson Mortgage Group will provide a platform to assist our Short Sale and Loan Modification clients with new mortgage loans when they become eligible and we will serve the Virginia market with a full spectrum of competitive mortgage products. People clearly need mortgages but they also need help finding the right mortgage. What is often missing, and a large contributor to the past crisis, has been experienced people that are willing to work with the clients to help them determine the right mortgage program and fit for their needs. Jefferson Mortgage Group LLC has a role to play in this process.