The potential tax savings are higher for investors who maintain their stake longer, with a break not only on reinvested capital gains but also on profits from the opportunity-zone deals. She began her mortgage industry career in 1997, working as a branch manager and loan officer and gaining experience in underwriting and operations before joining CrossCountry. Leonhardt said he and fellow investors in the Superior Avenue block, who formed a 50-50 partnership, had taxable gains they needed to reinvest. In Northeast Ohio and across the country, Census tracts earmarked as economically distressed opportunity zones offer investors the ability to put off or avoid paying capital gains taxes. 6850 Miller Rd Brecksville Ohio 44141 US. ", "In my 25-plus years of mortgage industry business development and recruiting I have never seen a company that truly puts the loan originator first, above the company," said Executive Vice President James Iley. In 2020 despite the COVID-19 pandemic it funded 4265 billion in home purchases and refinance packages. CB Rank (Person) 40,197. They . from 8 AM - 9 PM ET. Since we launched The Land in 2020, weve brought our readers independent, on-the-ground reporting that helps them become more engaged in Cleveland. Who has played an influential role Ronald J. Leonhardt Jr. "Ron and his leadership team made this process transparent and clear. Leonhardt in 1997 earned a bachelor of arts degree from Baldwin Wallace University, Berea, Ohio, where he also was a member of the football and track teams. Not all applicants qualify. The buyers acquired GBXs parking on the west side of the street and, in turn, turned over former Chilcote lots on the east side of the street to GBX. She serves on the corporate board of K&N Engineering, a global manufacturer of automotive performance filtration products and also is a member of the Walsh College Foundation Board of Directors. This business is evolving very fast, especially from a technology standpoint. Weve done three acquisitions in the last year, and were about to do two more, Leonhardt says. "The addition of this group is a terrific fit for us. Crosscountry Mortgage employs 4,935 employees. Ron Leonhardt Founder and CEO of CrossCountry Mortgage, LLC (NMLS3029 NMLS32151) CrossCountry Mortgage CEO Ron Leonhardt Jr. has acquired the Velvet Tango Room, one of Cleveland's leading cocktail bars located between the city's Tremont and Ohio City neighborhoods, according to news reports. a major real estate owner and investor in the neighborhood. Theyre all competition, he says. As the borrower, you want to close on time, and you want it to be pain free., The pressure to perform and keep CrossCountry on an upward trajectory provides both stress and motivation, Leonhardt says. You want to make sure that youre not saturating a specific market where you already have a footprint, he says. NAME: CROSSCOUNTRY MORTGAGE, LLC is a top 10 retail mortgage lender in America, founded in 2003 by CEO Ronald J. Leonhardt, Jr. Over the next six years, Leonhardt worked, learned and found success in the world of lending. The arts district is also a great place because of the diversity and creativity down there.. At CrossCountry Mortgage LLC, however, the dark times provided the opportunity to plot a new way forward. Contact usor review ourprivacy policyfor more information. youve gotten? In addition, she is responsible for the companys financing, closing, post-closing, credit risk, construction, loan support and training operations. Additional options include down payment assistance, home equity products, and expedited closing programs. CCM's reputation for integrity is well-deserved on all levels. Continue with Recommended Cookies, Your email address will not be published. Im like, Where are you going to make more money? Sure you can make money flipping a house. Usually they partner up for comfort, but sometimes partnerships dont work out. Thats how I got licensed in all 50 states, he says. They really are crazy good! Theres plenty of surface parking to support new development, he added. So really I just stumbled into it. ", "CCM offers that rare combination of financial strength and strength of character," said Executive Vice President Ralph Picarillo. ", "Reputation is everything in this business," said Bernabei, "and CrossCountry Mortgage's reputation for superior customer service and competitive rates is the perfect fit for our clients and referral partners. People were stuck in their houses, forced to work from home, and as a result, it was a tremendously busy time for us. Web The media mogul former mayor of New York and failed presidential candidate increased his net worth by an estimated 23 billion over the past year. The company has nearly 3,000 employees and licenses in all 50 states. In his current role as Chief Operating Officer & General Counsel, Jon is instrumental in offering operational as well as legal support to AFN, our branches and staff, and is a crucial member of our executive team. . There are so many different factors that can affect our business good or bad, Leonhardt says. Share. We constantly evolve and adapt to ensure our employees are equipped with the right blend of products, service, and training to ensure that you have the best possible experience in one of the most important decisions in your life. Led by Jeremy Durkin, Sean Logue, and Margaret Bernabei, these branches define excellence in mortgage lending. She also was responsible for establishing the companys industry-leading career development program, which each year helps hundreds of trainees gain the knowledge and certifications necessary for successful careers in the mortgage industry. Under Susie's leadership the HR Department gracefully handles our continuous nationwide expansion. Right Ron Leonhardt Cross Country Mortgage Net Worth - Phone Number, House Address, Wiki Read More ButI really thrive in this type of environment.. Additional options include down payment assistance, home equity products, and expedited closing programs. In August, the state received intent-to-apply letters from 125 applicants, totaling $314. More than a team With such lofty ambitions, we know the importance of the individuals who call CCM Find contact details for 700 million professionals. Sign up to receive advice from business professionals, or register for information on our networking events near you! Web Ronald J. in your life? American Financial Network, Inc. is an Equal Housing Lender. Ron Leonhardt Founder And Ceo Crosscountry Mortgage Llc Linkedin. Routinely youll see people in and out of my office, he says. My attorney gave me that advice when I started the company. Broker is performing acts for which a license is required. She previously had been senior vice president and chief marketing and communications officer for Federal-Mogul Corporation, Southfield, Mich., one of the worlds premier manufacturers of vehicle components. We had a small mom-and-pop shop, and that feel is still here today. To be one of the richest people on Earth, he had to do all these things in his life. Ron Leonhardt, CEO of CrossCountry Mortgage, is proud to welcome the team from First Choice. That was my first experience in any type of professional setting. The company has nearly 3,000 employees and licenses in all 50 states. It would be a giant hole in the wall of that historic district if they werent reused. She oversees all of accounting, payroll, interim servicing, financial reporting, tax reporting, and warehouse banking relationships. As with so many aspects of life and business, people have turned to the web to shop for mortgages. Prior to engaging in dealmaking activity, Leonhardt says its important to consider your companys footprint. Copyright 2023 American Financial Network, Inc. All rights reserved. This is not an offer for extension of credit or commitment to lend. Records show Ronald J. Leonhardt, the president and CEO of Brecksville, Ohio-based . The real estate deal included 2104 and 2110 Superior Ave., at right, and the historic Chilcote Company manufacturing facility, center, at 2160 Superior Ave. CLEVELAND, Ohio The recent sale of a city block at the eastern edge of downtown Cleveland points to large-scale development plans in the Superior Arts District, where longtime manufacturing buildings could become a corporate headquarters supporting hundreds of jobs. Jack also spent 10 years with Commonwealth United Mortgage, advancing from Branch Manager to Area Manager to Regional Manager faster than any of his peers. The public will be invited to vote for their favorite artist in each round at PainttheDistrict.com. In his experience, M&A transactions should not be about winning and losing. Subscribe for free and get The Land delivered directly to your inbox. As someone who is ambitious, forward-thinking, dedicated to excellence, and eager to grow, I chose CCM as the local, like-minded lender that shares my goals. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Made possible through support from the City of Cleveland, Team NEO, JobsOhio and the Ohio Development Services Agency, the headquarters project includes the restoration and renovation of four industrial buildings dating back to as early as 1913. Through his direction and leadership over the past 12 years, Mr. Leonhardt has developed CrossCountry Mortgage, Inc. from a single branch with less than 10 employees to a nationally recognized . THIS SITE IS NOT AUTHORIZED BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES. Additionally he ranked 24th nationally for most loans closed in. 18 billion A corporate billionaire lawyer in Bangkok Thailand Wichai Thongtang successfully represented former Thai Prime Minister Thaksin. Under his leadership, CrossCountry has become one of the nation's largest and fastest growing retail mortgage lenders, and the largest based in Ohio. My approach to dealmaking is that its all about relationship building. a company that lists Leonhardt as a signatory, bought . As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The acquisition is the result of a thoughtful search process and extensive discussions between the leaders of the two companies. CrossCountry eclipsed $1 billion in loans for the first time in 2014. Cross Country Mortgage, a fast-growing mortgage lender with nearly 6,800 employees nationwide, broke ground last week on its new headquarters in the Superior Arts District near downtown Cleveland. While the company will move into the former TAP headquarters, Cross County is also planning a future, second phase of the project that will feature multifamily apartment development and a new restaurant. A Free Quote has been submitted to you from [$siteName$]. Tap Packaging Solutions, known for most of its history as the Chilcote Company, sold buildings and parking lots stretching from Superior Avenue south to Payne Avenue. In late 2018, a group led by Leonhardt and KJK Managing Partner Jon Pinney bought all of the buildings and parking lots between Superior and Payne avenues and East 21st and 22nd streets in Cleveland Search over 700 You get guys who say, Hey, I want to do this, I want to do that, Leonhardt says. Rendering of renovated building facing E. 22nd St. CrossCountry Mortgage is poised for greatness in the 2020s. Now, amid tension between, On a sticky but sunny late summer day, The Land joined in the festivities at the 76th annual One World Day on August 28, 2022.. P.S. Reader support is crucial as we continue to shed light on underreported neighborhoods in Cleveland. I think its an opportunity for a mix of new and old, to figure it out together.. "As a mortgage industry financial executive, I was immediately struck by the outstanding balance sheet, but I quickly realized that the leadership was even more remarkable than the financials. An investor with profits from a sale of stock or real estate, for example, can delay paying taxes on those gains by quickly putting the money into a fund that invests in a business or real estate project in an opportunity zone. But we plan on developing the Superior and Payne property. million verified professionals across 35 million companies. The borrower just wants an instant loan. Regions Great Lakes, Midwestern US. It was like the cartoon with the roadrunner, where he is running across a bridge that is falling behind him, says Ronald J. Leonhardt Jr., the companys president and CEO. Her responsibilities today include overseeing a team of more than 300 production underwriters. The company has more than 6,000 employees and licenses in all 50 states. We have grown every single year since 2009, he says. Box 602732, Cleveland OH 44102 | (216) 532-3875, Privacy Policy | Subscription Agreement | Terms of Use | Powered by Indiegraf Media, Get The Land's free newsletter in your inbox 2-3x a week. The existing office building in Brecksville, which CrossCountry owns, is about 55,000 square feet. If an investment will take too much of my time away from CrossCountry, thats something I stay away from. Founded in 2003, CrossCountry Mortgage is a top 10 retail mortgage lender nationwide and the largest based in Ohio. Additionally, he ranked 24th nationally for most loans closed in the Scotsman Guide's 2021 Top . The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580. Leonhardt brings a competitive spirit to his work at CrossCountry, much of which stems from his time playing football at Baldwin Wallace University. That type of scale wasnt Leonhardts goal when he started the business. At CrossCountry Mortgage LLC, however, the dark times provided the opportunity to plot a new way forward. Were hoping well inspire them to bring more biz down there, she said. Ron Leonhardt is the Founder and CEO at CrossCountry Mortgage. Other amenities will include a conference center, barista, grab-and-go food pantry, commercial kitchen that will be run by local restaurants and a 8,600-foot gym with a group fitness studio and locker facilities. Prior to AFN, Jack served as Sr. Vice President of Production & Operations at Majestic Mortgage and Mortgage Capital Resources, managing multiple operations in the Western US. BRECKSVILLE, Ohio, May 14, 2020 /PRNewswire/ -- CrossCountry Mortgage, LLC (CCM), a nationwide mortgage lender headquartered in Brecksville, Ohio, is pleased to announce the acquisition of the assets of New Jersey-based residential mortgage lender First Choice Loan Services Inc. When typing in this field, a list of search results will appear and be automatically updated as you type. Through the guidance and vision of this leadership ensemble, American Financial Network, Inc. has experienced unprecedented growth both in same - store sales and through strategic recruiting and market expansion. That south side of the street there its very intact as one of Clevelands original garment districts, said Tom Yablonsky, who helped establish the Superior Avenue historic district in 2007 and who serves as executive vice president of the Downtown Cleveland Alliance and executive director of the Historic Gateway Neighborhood Corp., which has a conservation easement program. CROSSCOUNTRY MORTGAGE, LLC is a top 10 retail mortgage lender in America, founded in 2003 by CEO Ronald J. Leonhardt, Jr. Copyright 2023 The Land, P.O. Web CROSSCOUNTRY MORTGAGE LLC is a nationwide mortgage lender founded in 2003 by CEO Ronald J. It enhances both our strategic growth in several regions as well as our consumer-direct component. I took every penny I had personally and put it into the company. A company affiliated with CrossCountry Mortgage CEO Ron Leonhardt Jr. has acquired a parking lot behind the ArtCraft Building in downtown . What was your first job? In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID#237341). From [ $ siteName $ ] of the two companies would be a giant hole in the Scotsman Guide #... Minister Thaksin ron leonhardt cross country mortgage net worth acquisitions in the 2020s company affiliated with CrossCountry Mortgage LLC,,! 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