Podcast “MPA Talk” Features Damon Germanides

MPA Talk, the podcast for U.S. mortgage professionals by MPA Magazine, featured Insignia co-founder, Damon Germanides, in their latest episode entitled “Serving Up Solutions.” In this episode, host Simon Meadows interviewed Germanides for his perspective as a broker who specializes in complex loans, particularly for those who are self-employed. They discuss how he cut his teeth in the last big financial crisis of 2008, before co-founding Insignia Mortgage in Beverly Hills, California, in 2010. Beginning slowly, the company established relationships with smaller banks and credit unions, to build the business to where it is today. The son of a restaurant owner, Germanides likens the mortgage industry to the restaurant industry in terms of the tough challenges it presents – it’s been his driving force to succeed.

“My dad owned a restaurant for 43 years, an, that business is such an tough business that I used to look at the mortgage business and say, ‘as tough as it is today, man, the restaurant business is, is even tougher’. I’ve picked tough businesses because both of them have their challenges. That was a driving force early in my career, knowing how hard another business was, made me pretty tenacious.

When 2008, 2009 hit, my good analytical skills really started to shine because the business had moved away from the limited information type loans or the no doc loans or whatever. You had to have a complete understanding of the borrower’s financials, which required mortgage professionals to start to learn to read tax returns, understand cash flow, you know, do a sensitivity analysis on revenue and income, understand everything on the borrower’s financials and that, that really fit well with my skillsets.”

Damon Germanides, on why his key skills made him a good fit for the mortgage industry.

Listen to the full episode below, or via your podcast streaming platform of choice.

MPA Talk, July 21, 2023, featuring Damon Germanides, a broker who specializes in complex loans, particularly for those who are self-employed.

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Mortgage Professional America Magazine Features Damon Germanides

Insignia Mortgage co-founder, Damon Germanides, was featured in the editorial article “From slinging hash to serving up the dream of homeownership” in Mortgage Professional America (MPA) Magazine. The article, written by Tony Cantu, shares how Germanides moved from the family restaurant business to be a successful mortgage broker in a niche space. In particular, the article highlights Insignia Mortgage’s unique business model as ”lean and mean” and how the team consistently ranks on the Scotsman Guide’s list of Top Originators. 

Despite the lean-and-mean model, his volume is far from shabby – $311 million across 140 units in 2021 and $285 million over 104 units last year. That performance has helped him secure the 27th ranking nationally among brokers. And he’s not alone in being nationally ranked, either: “I’m very proud of our little company,” he said. “We have four of the top 25 brokers in the country who work for this office.”

Read the full article here. Learn more about Insignia Mortgage’s successful transactions, unique loan scenarios, and mortgage industry innovations by subscribing to our weekly newsletter. 

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Damon Germanides in Bloomberg.com

Insignia principal Damon Germanides was interviewed this week, on April 21, 2020, in Bloomberg.com in the piece “Wealthy Mortgage Borrowers Face Cold Shoulder From Lenders,” authored by Prashant GopalJohn Gittelsohn, and Shahien Nasiripour.

The article covers the counterintuitive situation in which many holders of jumbo loans find themselves in. With federal rates approaching zero, those seeking an advantageous refinance are finding lenders unavailable to offer favorable terms. Because jumbo loans are not backed by the federal government, they’ve gone from a lucrative market for banks to a near-pariah overnight.

Mr. Germanides is quoted at the end of the article in a comment on how a rock-solid homebuyer he’s working with is finding it more challenging to obtain a mortgage than he would have before the pandemic crisis hit. Loans are still going through, but it is harder “get them across the finish line.” Read the whole article here.

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Insignia Mortgage Featured in Wall Street Journal

Insignia Mortgage is featured in the June 12, 2015, Wall Street Journal in the “Jumbo Jumble” section! The article, “More Options for Mega Mortgages,” discusses the emerging trend of the financing behind ‘super jumbos’ with home loans typically ranging from $4 million to $20 million.

Insignia Mortgage, based in Beverly Hills, CA, specializes in tailored programs for high-net-worth borrowers whose mortgage needs are often not met by traditional lenders. Insignia is also well versed in managing the international components of these deals.

Principals Chris Furie and Damon Germanides are among the top of all mortgage originators in the US. In 2014, Chris was ranked #6 in the country with over $190 million in loans and Damon was #32 with over $129 million.
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