Colorado Real Estate Journal - July 20, 2016
All the world’s a stage. And for Michael Thomas, he’s found a leading role in the mortgage banking industry. Thomas, vice president and market manager of Gershman Mortgage’s Denver office, never planned on a career in real estate and banking. Rather the Michigan-born and Northern Virginia-raised Thomas planned to be an actor. But it was a “very Hollywood” story, Thomas acknowledges, that led him to the industry. A Shakespearean actor, Thomas graduated from George Mason University with a degree in theater and, following graduation, he moved to Los Angeles. Among the highlights on his acting resume, was appearing in Creed’s first music video. But it was meeting a mortgage broker (and former punk rocker) in Beverly Hills during a yoga class that led Thomas on a different path. Thomas, then working as a fine-wine buyer, asked the broker if he could help him with his business plan and instead was offered a job to work for him. It was a job, according to Thomas, that got him interested in banking and led to working in several positions within the industry, including as a business development officer with Bank of America and as an assistant vice president with Comerica Bank, where he helped source new business in the entertainment sector, including a single and multipicture film finance. He also worked for Rabobank, where he started its commercial loan division “right before the world fell off,” as well as Capital One, JPMorgan Chase and U.S. Bank before he and his wife made the move to Colorado. “We moved for the lifestyle,” said Thomas, who also admitted that after having their first son, the idea of raising him at their Sunset Boulevard residence was less than appealing. Thomas transferred from the Beverly Hills U.S. Bank location to Boulder, where he specialized in owner-occupied and investor real estate loans, equipment finance, business lines of credit and acquisition loans for medical practices. He was then recruited to work for First Citizens Bank, where he assisted small- to midsized corporations in the Colorado market with commercial banking services before joining Gershman in November 2015. At Gershman, Thomas specializes in Federal Housing Administration-insured financing solutions for permanent and construction loans on multifamily and health care properties, with an emphasis on assisted living facilities. It’s a role he relishes. “I like helping borrowers structure deals. I like the complexity. I like real estate,” said Thomas. “I like seeing the physical results of my efforts.” While the position is new for Thomas, he finds the opportunity to focus on what he likes about the business invigorating. “I like this environment,” he added. “It’s more entrepreneurial. It’s much more working as consultants rather than bankers. The fun part of the job is being hands-on. It’s exciting that my efforts are used in some way to help change lives.” Thomas also believes his varied work experience and skill set helps him with the nuances navigating FHA lending presents. “I call Gershman the community bank of FHA lenders,” laughed Thomas. “I’m really focused on affordable housing and I love seeing projects come to fruition but more importantly it’s about serving an unmet need in the community for our most vulnerable population.” Over his 15-year career, Thomas believes his success stems from being a hard worker. “I always have been a hard worker and the harder I worked, the luckier I got,” said Thomas, whose guiding principles have been to outwork the competition, knowing “your stuff,” having integrity and doing what you say you are going to do. “The key to my success is being creative,” he continued. “The thought of creative financing leaves many with a bad taste in their mouth but, to me, creative financing is using your brain to come up with solutions that were not obvious. I don’t think in a linear way but in a broad, conceptual way. I think my advantage in coming in from a different industry is having a fresh perspective.” His positivity also extends to the complexity of FHA financing. Yet for Thomas it isn’t the complexity of underwriting that challenges him most but how to create awareness; to have more meaningful conversations that bring borrowers and lenders together and understand it isn’t a one-size-fits-all program. It is his dedication to constantly learning, growing and giving back that has guided Thomas, who graduated last year from the Graduate School of Banking – Colorado, participated in the Colorado Department of Local Affairs Developer’s Tool Kit program and was recently appointed to the Citizens Advisory Committee on Housing and Community Development board in Aurora, which assists the city in reviewing and recommending new construction and affordable housing development. Beyond work, his life, Thomas gladly admits, is his family – his wife and two sons, ages 15 months and 5 years. As well, he is an avid cyclist, riding 24 miles round trip to work three times a week, martial arts practitioner and skateboarder. Acting has taken a hiatus for Thomas, who would love to return to the stage. However, it would only be a “bit role” as financing has taken the starring role in his career.