Karen Pribnow, leader of NorthMarq’s loan-servicing business, will retire from the company’s Minneapolis office at the end of 2013. This will bring a close to a career of 40 years.
During her career, Pribnow helped NorthMarq’s loan-servicing practice grow from $500 million in 1988 to $41 billion today.
“Karen will be missed by the many lenders who are our clients in the loan-servicing business,” said Mike Myers, NorthMarq’s chief operating officer. “She has grown the department from five people in 1984 to 100 today.”
The NorthMarq team services commercial real estate loans on behalf of 50 life-insurance companies, Freddie Mac, Fannie Mae, Ginnie Mae and more than 12 CMBS conduits for 5,600 loans dispersed throughout the country.
Bert Libke, senior vice president/director-servicing, will take over Pribnow’s leadership role next year. He has worked for NorthMarq since 1993, when he began his career as a loan analyst.