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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 54 August 2024 E X P E R T I N S I G H T S T ony Julianelle, CEO of Real Atlas Estate has more than 25 years of executive leadership experience in the finance and real estate industry. Real Atlas Estate is a full-service real estate company specializing in proper- ty management, institutional acquisitions, and buy/sell brokerage. Before joining Atlas, he was a senior leader at a top four bank, overseeing cross-functional teams in the United States and overseas. He leads the overall strategy and direction of Atlas, while maintaining a commitment to the firm's values and culture. Since its inception in 2013, the com- pany has made a commitment to Uplift Humanity Through Real Estate. With offices in 10 states nationwide, Atlas has $2.5 billion in real estate assets under management, and manages more than 6,000 residential units. MortgagePoint recently had the op- portunity to speak with Tony to discuss how he got his start, the state of the mort- gage finance space, and what it takes to make it in an up and down marketplace. Q: How did you first get your start in the industry? Tony Julianelle: I started in 1998 as a Loan Originator for what became Wells Fargo Home Mortgage. I was able to be a part of the rise of the company to be- coming one of the largest originators and servicers in the nation. and played many roles during my time there, culminating in a senior leadership role overseeing production across a large geographic region. I spent more than 20 years in mortgage origination and leadership, and I loved it. Q: What initially attracted you to the mortgage finance space? Tony Julianelle: No one dreams of being a Loan Officer when they are a kid! I was originally attracted to the business because of the entrepreneurial spirit that allowed you to run it like you owned it—a lot of that changed after the great financial crisis and the increased regu- lation that followed—most of it being necessary and good. What kept me in the business was the opportunities I had to make a tangi- ble difference in people's lives. I still have a note from a borrower I did a loan for in my first year, where, during the loan ap- plication, we called into his company and enrolled him in their matching 401(k). Years later, he mailed me a copy of his With more than a quarter-century of industry experience, Tony Julianelle, CEO of Real Atlas Estate has seen market highs and lows, growing his property management throughout. Tony recently sat down with MortgagePoint to discuss current market trends and the forces that will shape the landscape in the industry. B y E R I C C . P E C K Tony Julianelle CEO of Real Atlas Estate statement with a note on it about what a difference it had made. I have been invited to weddings, birthdays, and even Thanksgiving dinners a few times. Being a part of a family, and making a house a home, is pretty remarkable. Q: In the current market, what do you see as possible market corrections to alleviate the affordability crisis? Tony Julianelle: Unfortunately, there is a market reality at play that will not be overcome by an outside force ... it's the reality of supply and demand. As long as the U.S. housing market is under-supplied by over a million homes, demand will outpace supply and prices will continue to climb. Even in this environment—with interest rates at 25-year highs—values have not seen any meaningful depreciation, and in most markets, have continued to climb, albeit, at a slower pace. Of course, if the United States were to experience a prolonged recession or a spike in unemployment, that may create downward pressure on pricing, but market fundamentals do not currently point toward this. Q: What suggestions do you have for renters who are on the outside of the home buying market looking in? Tony Julianelle: A few things. First, decide what's important to you. If you want to own a home, you can, but it will take sacrifices. I'm a big believer in home ownership and real estate ownership as a path to wealth accumulation. But, you probably should not be looking for a dream house. You should be looking for something you can buy and rent rooms to roommates, or even better, a multi-unit property where you can get FHA (Federal Housing Administration) financing as an owner-occupant with a low down payment, live in one unit, and rent the others out. You will also likely need to drive a less expensive car, live with last year's clothes, and cook a lot of meals at home. There are a lot of programs to help first-time homebuyers, so do your