Mortgage Banking Executive Stan Foraker named President of Ohio Mortgage Bankers Association
Columbus, OH (May 20) – Stan Foraker, Executive Vice President and Mortgage Banking Executive at First Commonwealth Bank, has been elected as the President of the Ohio Mortgage Bankers Association (OMBA). Stan’s term began on May 10 and will conclude at the OMBA Annual Convention next May.
The Ohio Mortgage Bankers Association, founded in 1969, is a statewide organization devoted exclusively to the field of residential and commercial real estate finance. OMBA’s membership comprises more than 100 mortgage originators and servicers, as well as investors, and a wide variety of mortgage industry-related firms.
“Stan becomes president at an important time for the association. He has a vision for the association to build on lessons learned this past year and looking to try new and different ways to accomplish our goals going forward. He has been a great support to me and I know that strong support and leadership will continue during his tenure as president,” Jay Pascoe, Executive Director and COO for OMBA said. “In Ohio alone, we saw $34.4 billion in home sales with over 162,000 homes across the state. That is 4.3% higher than the previous year sales and when you add to that the huge volume of refinances in 2020, you had an extremely busy year for Ohio's mortgage bankers,” Pascoe added.
“I look forward to this opportunity to lead the OMBA and work with my fellow executives during this time of tremendous growth in the mortgage industry. Advocacy for the Mortgage Business has never been more important and I am excited to engage leaders in all organizations to address our varied housing needs in all our communities and for all families and individuals,” Foraker offered.
Stan joined First Commonwealth in late 2013 to restart the bank’s mortgage business. Since coming online in summer 2014, the bank’s mortgage program has provided mortgage loans to help more than 12,000 families buy, build or refinance homes.
A graduate of Mount Vernon Nazarene University with a Bachelor’s Degree in Accounting, Stan resides in North Canton, Ohio with his wife Cindy where they enjoy spending time with their children and grandchildren. Stan is also on the Loan Administration Committee of the National Mortgage Bankers Association, the Steering Committee of Convergence Columbus, the Board of Christian Leadership Concepts and a Board Member of Habitat for Humanity of Greater Pittsburgh.
For more information on First Commonwealth’s Mortgage Loan Division, please visit www.FCBanking.com/mortgage.
About First Commonwealth Financial Corporation
First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services company with 119 community banking offices in western and central Pennsylvania and throughout Ohio, as well as business banking centers in Pittsburgh, Pennsylvania, and Canton, Cincinnati, Cleveland and Columbus, Ohio. The company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency.
For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com.