NBS Stokes Mortgage Business Unit

BELLEVUE, WA-The local mortgage banking office of Portland, OR-based Norris, Beggs & Simpson has hired a former senior vice president with Citizens Bank of Massachusetts in Boston to replace two finance officers lost late last year to area banks. Robert Draper comes to the firm with 21 years of experience in commercial real estate lending, loan workouts and REO liquidation.Draper, a graduate of the University of Puget Sound, managed a regional team of commercial real estate lenders while at Citizens Bank. Additionally, he was responsible for originating loans and equity investments for commercial real estate projects located throughout Boston and New England, as well as the management of a loan portfolio in excess of $200 million. He also participated on the bank’s due diligence team. Prior to Citizens, Draper served as vice president and group manager at Recoll Management Corp., a division of Fleet Financial Group. His other industry experience includes positions at Maryland National Bank and Pacific First Bank in Seattle.NBS president J. Clayton Hering tells GlobeSt.com that the staff losses late last year were the result of banks aggressively moving into the commercial loan business. The Bellevue mortgage banking office had $100 million worth of loan originations in 2003. Running with just one finance officer through the first half of 2004, Hering admits the Bellevue office will be hard pressed to improve on last year’s numbers. “We hope to be able to hold our own,” he says. “It’s plenty competitive out there and there’s a shortage of product.”