About PR Mortgage

PR Mortgage & Investments (PR) was established in August of 1990 as a mortgage banking firm specializing in multifamily housing and health care facilities finance in the Midwest.  With more than a hundred years combined experience in these types of finance, the company is a premier provider and servicer of Multifamily, Senior, and Student Housing in the Midwest.  Our mission is simple: to provide the best origination and service of our loan products with exceptional customer service, accuracy, creativity, speed, and conformance to regulations.

PR has originated and closed more than $8 billion in loans and now services in excess of $5 billion.  PR’s primary source of funding is the secondary market of federally chartered agencies and the federal government.  PR is an approved FHA Mortgagee and is an approved Multifamily Accelerated Processing (MAP) lender for HUD.  In 2010, the company was #1 in the country in FHA Multifamily production and continues to be ranked in the top 5 nationally.  PR Mortgage is also a Rural Housing Service (RHS) approved lender for the Section 538 program.  The company is a Government National Mortgage Association (GNMA) Issuer of

Mortgage Backed Securities (MBS).  These agencies offer secondary market programs that provide a full range of loan structures for multifamily rental projects and health care facilities. Through these programs, PR Mortgage can provide acquisition, refinance, rehabilitation and new construction loans.  These programs offer competitive long-term, fixed-rate loans that will meet the needs of our clients.  Through its banking parent (Merchants Bank of Indiana), PR Mortgage can offer floating and fixed rate interim construction and acquisition/rehab loans.

Meet Our President and Chairman

Michael F. Petrie, CMB

Michael F. Petrie, CMB

President

Mr. Petrie co-founded PR Mortgage & Investments (PRMIC) with partner Randall Rogers in 1990. Mike Petrie is CEO & Chairman of Merchants Bank of Indiana (MBI), a $3 Billion Bank headquartered in Carmel, IN. PRMIC is a subsidiary of MBI.

Mr. Petrie is a 1979 graduate of Indiana University's School of Business with a major in Finance. He received his MBA in 1983 from Indiana University. In 1999, Mr. Petrie earned his Certified Mortgage Banker Designation (CMB) and in 2004 received the Accredited Mortgage Professional Designation (AMP).

Mr. Petrie is active in the industry and in the community, as evidenced by his affiliations listed as follows: Merchants Affordable Housing Corp., President and Director (1986 - present); Indiana Affordable Housing Council, Board of Directors (2016 - present); The Children’s Museum of Indianapolis (2015 - present); Multifamily Lenders Council (President); Community Investment Fund of Indiana, Board of Directors (2013 – present); Mortgage Bankers Association, Washington D.C., Chairman ( 2004 - 2005); Chairman - Elect, (2003 – 2004); Vice Chairman ( 2002 – 2003); Board of Directors (1999-2006, 2008 – 2009); Indiana Association of Community and Economic Development, Board of Directors (2013 – 2016); FHLBI Board of Directors ( 2007 – 2008); MERS Board of Directors (2006 – 2010).

Mr. Petrie has also served on numerous professional and civic boards including the Indianapolis Neighborhood Housing Partnership (INHP), Near North Development Corp., Fannie Mae National Advisory Council, the Harvard Joint Center for Housing Studies, and Advisory Committee for the Research Initiative on Rental Housing.

Mr. Petrie was awarded the "Sagamore of the Wabash" in 2004 and MBA’s Burton C. Wood Legislative Service Award in 2000.

Randall D. Rogers, CMB

Randall D. Rogers, CMB

Chairman

Mr. Rogers co-founded PR Mortgage & Investments in 1990 after serving 21 years with Merchants National Corporation as Executive Vice President of the Real Estate Lending Group. The group was responsible for the origination and management of development, construction and permanent real estate loans both for portfolio and as an intermediary mortgage banking subsidiary.

A 1968 graduate of the University of North Carolina, Chapel Hill, Mr. Rogers also graduated in 1979 from the Stonier Graduate School of Banking, Rutgers University. In 1985 Mr. Rogers earned the Certified Mortgage Banker (CMB) designation from the Mortgage Bankers Association of America.

Mr. Rogers has served on several professional and civic organization boards including, the Fannie Mae Regional Advisory Board, Westside Community Development Corporation, both the Indianapolis and Indiana Mortgage Bankers Associations, The Health & Hospital Corporation of Marion County, the Eskenazi Health Foundation, the Indianapolis Zoological Society, Indianapolis YWCA, the 1987 Pan American Games, the Greater Indianapolis Progress Committee and SKL Society. He also served as the President of the Indiana Mortgage Bankers Association, Chairman of the Marion County Health and Hospital Corporation, and Chairman of the Eskenazi Health Foundation.

Meet Our Team

Loan Origination

Michael R. Dury

Michael R. Dury

Executive Vice President and COO

Mr. Dury joined PR Mortgage & Investments in 2007 as an investment officer. In his current position as Executive Vice President & COO, he oversees strategy and business development for multifamily and healthcare mortgage lending activities. The group was ranked #1 in the country in FHA Lending in 2010 and has ranked in the top 5 for five consecutive years. He specializes in the origination of numerous multifamily rental and health care housing finance programs. Since 2010, Mr. Dury has originated over $3 billion of multifamily loan volume.

Mr. Dury is a graduate from The University of Notre Dame, where aside from his studies, served as team captain for the baseball team. In 2013, he received his MBA in finance from Indiana University’s Kelley School of Business and was selected as a “Future Leader” by the Mortgage Bankers Association. Mr. Dury serves on the Board of Directors of the Notre Dame Club of Indianapolis and serves as the current Club President.

Matthew E. Kaercher

Matthew E. Kaercher

Senior Vice President, Originator

Mr. Kaercher serves as Senior Vice President with PR Mortgage & Investments and has been with the organization since 2011. He heads up our originations team and specializes in the origination of a wide variety of multifamily and senior financing programs available at PR Mortgage. These programs include, but are not limited to financings by FHA, RHS, and PR’s parent company, Merchants Bank of Indiana.

Mr. Kaercher is a graduate from The University of Dayton and received his MBA in finance from IU’s Kelley School of Business.

Since 2011, Mr. Kaercher has served as a multifamily loan underwriter of $215 million in closed loans. Upon transferring to originations in January of 2014, Mr. Kaercher has originated or co-originated over $600 million in loans.

In addition to his duties at PR Mortgage, Mr. Kaercher is a Board Member of Near East Area Renewal (NEAR) and also serves on their Housing Committee. NEAR aims to redevelop near east side neighborhoods in Indianapolis. He also volunteers as a member of the Penrod Society which organizes a fair benefiting local arts programs, and coaches for his daughter’s soccer team.

Jeffrey T. Spahn

Jeffrey T. Spahn

Vice President, Originator

Mr. Spahn serves as Vice President with PR Mortgage & Investments and has been with the organization since 2007. He specializes in the origination of a wide variety of multifamily and senior financing programs available at PR. These programs include, but are not limited to financings by FHA, RHS, and PR’s parent company, Merchants Bank of Indiana. Mr. Spahn has been a part of the production team that was the #1 ranked FHA lender in 2010 and has been ranked in the top 5 for five consecutive years thereafter. Since 2009, he has originated and closed in excess of $1.038 billion in loan volume.

In 2016, Mr. Spahn completed his MBA at the University of Indianapolis. Previous to that, Mr. Spahn was a 2006 graduate of Indiana University (Bloomington) where he earned his degree in Biology and also earned a Certificate in Business Foundations from the Kelley School of Business. He has also completed several multifamily real estate finance education courses offered by the Mortgage Bankers Association.

In addition to his duties at PR and efforts to participate in outside education, Mr. Spahn serves on the Housing Committee for Hamilton County Area Neighborhood Development (HAND, INC), a local not-for-profit housing developer.

Randall D. Rogers, Jr.

Randall D. Rogers, Jr.

Vice President, Originator

Mr. Rogers joined PR Mortgage & Investments in 2010 after practicing law in a variety of disciplines for nearly twelve years. As a former “white-collar” Deputy Prosecutor for Marion County, Indiana and later a defense attorney in the same practice area, Mr. Rogers began at PR as an underwriter and has received his MAP approval (2013) from the U.S. Department of Housing and Urban Development. After transitioning to the production team in late 2013, Mr. Rogers specializes in the origination of numerous multifamily rental and health care housing finance programs including conventional, FHA and RHS.

A 1995 graduate of Denison University, Mr. Rogers also graduated in 1999 from the Indiana University Robert H. McKinney School of Law and remains active and in good standing with the Indiana State Bar.

Scott D. Chamberlain

Scott D. Chamberlain

Senior Vice President, Originator
PR Mortgage, Missouri

Mr. Chamberlain joined PR Mortgage & Investments in 2016. He was responsible in the development, construction, management and financing for multifamily/elderly projects from 1976 to 1987, utilizing FHA multifamily mortgage insurance and direct HUD loans with Section 8 subsidies and other affordable housing resources. In 1987 he moved into mortgage banking specializing in FHA multifamily mortgage insurance programs. Prior to joining PR Mortgage, he worked for Berkadia for 16 years from their St. Louis office, where he financed hundreds of FHA mortgage insured multifamily and healthcare facilities across the country. He has financed, serviced or underwritten over $2 billion of FHA mortgage insured loans for multifamily and healthcare facilities in his career.

Scott graduated from Weber State University with a Bachelor of Science degree in Accounting and later received his CPA.

Underwriting

Michelle Small

Michelle Small

Senior Vice President, Deputy Chief Underwriter and Compliance Manager

Michelle Small leads our Underwriting Department team. Ms. Small joined PR Mortgage & Investments in 2005 as a Commercial Loan Processor. Ms. Small earned the MAP Approved FHA Underwriter accreditation in 2013 after successfully completing the CampusMBA FHA Multifamily Training Program. Ms. Small is responsible for the review of all in-house and third party reports and is required to make a determination whether each proposed loan represents an acceptable risk and is economically sound. Ms. Small is also responsible for monitoring and reporting results of the compliance/ethics efforts of the company and provides guidance for the Board and senior management on matters relating to compliance.

Ms. Small holds undergraduate degrees in Business and Accounting, and an MBA in Finance through Anderson University.

David Hines

Vice President, Loan Underwriter

Mr. Hines is a HUD MAP approved underwriter. A graduate with Highest Distinction from the Indiana University School of Business, Mr. Hines has structured over one billion dollars in commercial real estate financing over his career. Prior to joining PR Mortgage, Mr. Hines was a senior originator/underwriter for a Midwest-based financial services company where he was responsible for the origination and underwriting of permanent and construction/permanent commercial real estate loans throughout the continental United States. He has also been involved in the acquisition/syndication of a variety of commercial real estate projects as a general partner or principal.

Mr. Hines has been involved in a number of professional and civic organizations, including the United Way, Habitat for Humanity, and Sertoma International.

Eddie Dietrick

Loan Underwriter

Mr. Dietrick joined PR Mortgage & Investments in July 2015 as a Loan Underwriter. He provides support to the Loan Origination Team and Underwriting department throughout the credit process.

Mr. Dietrick is a 2014 graduate of Indiana University's Kelley School of Business, where he earned degrees in accounting and real estate finance. Prior to joining PR Mortgage, Mr Dietrick worked for a local financial institution.

Collin O'Connor

Loan Underwriter

Mr. O'Connor joined PR Mortgage & Investments in 2016. He graduated from the University of Dayton, where he majored in Finance. After completing an internship with PR Mortgage in the summer of 2015, he rejoined the team as a Loan Underwriter. His previous experience includes working for a hedge fund and medical supply company.

Dan Holdcroft

Loan Underwriter

Dan Holdcroft graduated from IUPUI in 2007 with a degree in Business from the Kelley School of Business. He began his current position with PR Mortgage & Investments in 2016. Formerly, he was a Business Banker at Merchants Bank of Indiana, the parent company of PR Mortgage & Investments. Dan brings 8 years of banking experience with a strong focus on providing superior customer service to his clients. Dan is a parishioner at Christ The King Catholic Church and regular volunteer for organizations such as The Leukemia & Lymphoma Society.

Cory Queisser

Loan Underwriter

Cory Queisser graduated from Indiana University’s Kelley School of Business in 2015 with degrees in Finance and International Business. Previously, he worked for a local financial institution. He joined Merchants Bank of Indiana, the parent company of PR Mortgage & Investments, as an underwriter in 2016 before joining PR Mortgage & Investments as an underwriter later that same year.

Kristin Quintana

Loan Underwriter

Kristin Qunitana joined PR Mortgage & Investments as a Loan Underwriter in 2017. She graduated from Ancilla Domini College with an Associate of Science degree and also Indiana University with a General Studies degree. Prior to joining PR Mortgage, she worked for 3 1/2 years at a third party logistics company.

Jordan Reisman

Credit Analyst

Mr. Reisman joined PR Mortgage & Investments in 2016 as a Credit Analyst. He provides analysis to the Loan Origination Team and Underwriting department throughout the credit process.

Mr. Reisman is a graduate of Butler University’s Andre B. Lacy School of Business, where he earned degrees in Finance and Economics. His previous experience includes working for a financial advising firm and a technology startup company.

Credit Risk and Compliance

John Petrie

Senior Vice President, Chief Underwriter

Mr. Petrie began his PR Mortgage career in 1999 in loan servicing. Three years later he began underwriting loans. In the ensuing twelve years, he has underwritten over $3 billion in multifamily loan business. Mr. Petrie has completed courses through the MBA to obtain his MAP underwriter certification. Mr. Petrie is certified to underwrite both MAP and LEAN loans and has underwritten for MAP, LEAN, HUD, FHLMC, FNMA, RHS, USDA and Merchants Bank of Indiana.

Mr. Petrie is a native of Logansport, Indiana. He attended Indiana University and received a B.S. degree from Illinois Benedictine College of Lisle, IL in 1973. After his time in college he began a 20 plus year career in the food industry working in quality assurance, technical services, and was a chemist in a food laboratory. Mr. Petrie has also completed courses from Drake University and Indiana University/Purdue University of Indianapolis in business.

MBI Capital Division

Brian Sullivan

Brian Sullivan

Vice President

Mr. Sullivan joined PR Mortgage & Investments in June 2013 and now serves as Vice President in the Merchants Capital Division. His role at PR Mortgage/Merchants Bank of Indiana is primarily focused on connecting PR Mortgage customers with real estate capital markets by marketing GNMA securities issued by PR. Mr. Sullivan has also helped several unaffiliated originators grow their business by providing warehouse lines of credit through Merchants Bank. Mr. Sullivan also serves as a shareholder relations representative for Merchants Bancorp and SBA trader for the bank.

Mr. Sullivan graduated from DePauw University in 2008 with a Bachelor of Science in Political Science and a minor in Economics. He received an MBA from IU Kelley School of Business in December 2013 with a major in Finance. Mr. Sullivan is involved civically with King Park Development Corporation, LISC Indianapolis, and the Penrod Society which supports the arts and cultural education in central Indiana. He has also volunteered for several local level political campaigns.

Servicing

Patti Hamaker

Patti Hamaker

Senior Vice President, Chief Servicing Officer

Ms. Hamaker joined PR Mortgage & Investments in 2009 as Vice President and Controller. In 2015, she accepted the position of Vice President of Servicing. In 2017, she was promoted to Senior Vice President & Chief Servicing Officer.

She is a graduate of Indiana University’s School of Business with a major in Management. From 2000 to 2009 she was the Controller for Paragon Realty Companies where she was responsible for the accounting of more than 30 entities. Prior to working at Paragon, she worked for National City Bank in the Commercial Real Estate Department as a loan servicer.

Investor Accounting

Nisha Cuellar

Vice President, Investor Accounting

Ms. Cuellar joined PR Mortgage & Investments in 2001. Her team’s responsibilities include all accounting and reconciliation of funds that flow through the Servicing Department, the transferring of funds to appropriate investor bank accounts, reporting and remitting to those investors, and meeting the corresponding regulatory requirements. Additionally, Investor Accounting oversees the Servicing Department database, including setting up new loans into the system and writing/preparing monthly, quarterly, and annual department reports. As such, it acts as a liaison for special database projects in support of the rest of the company and its correspondent lenders.

Ms. Cuellar attended Chapman University in Orange, California where she graduated magna cum laude with a Bachelor of Science degree in Business Administration. She has more than 30 years of mortgage servicing experience.

Julie Major

Assistant Vice President, Investor Accounting

Ms. Major has 20 years of investor reporting and account balancing experience. Prior to joining PR Mortgage & Investments, Mrs. Major worked for 4 years as a Financial Customer Service Representative, and 9 years as a Loan System Balancer/Investor Accounting Representative for First Indiana Bank.

She began her career with PR Mortgage in 2003 in an investor reporting role. In this role, she is responsible for the daily posting of payments, balancing various bank accounts, posting payoffs, and disbursements from various corporate accounts. Ms. Major is also responsible for setting up new loans as they fund. Additionally, she handles the remitting and reporting to RHS, FNMA, and Merchants Bank of Indiana investors per their guidelines.

Sarah Hanover

Investor Accounting Specialist

Ms. Hanover joined PR Mortgage & Investments in 2014 and is currently serving in an investor accounting roll. As a member of the servicing department, she is responsible for reporting and remitting to investors including GNMA and other subservicing portfolios, and meeting the corresponding regulatory requirements. Additionally, she is primarily responsible for the maintenance of the Servicing Department database, by setting up new loans and the continuing support of the existing loan portfolio. Ms. Hanover, also works closely with the software provider and writes department and company reports.

Prior to joining PR, Ms. Hanover was a credit supervisor in a large manufacturing company. Ms. Hanover has more than 25 years of commercial banking experience, 10 years as a VP of Loan Operations. Ms. Hanover holds a Bachelor of Science Degree in Business Management and Accounting from Western Governors University.

Chris Edwards

Administrative Assistant, Investor Accounting

Ms. Edwards currently serves as the Investor Accounting Administrative Assistant. Formerly she was the company receptionist and systems administrator.

Prior to joining PR Mortgage, Ms. Edwards worked part time while completing her college studies at IUPUI. She has also worked in the installment loan department of a locally owned bank. Ms. Edwards graduated from the Indiana University Kelley School of Business in 1999.

Asset Management

Vicki Major

Vicki Major

Vice President, Asset Management

Mrs. Major joined PR Mortgage & Investments in 2003 and currently serves as Vice President, Asset Management leading both the Portfolio Management and Construction Loan teams. She has been servicing multifamily loans since 2011 specializing in construction loans such as FHA 221(d)4; MBI construction loans; and RD Continuous Guarantee 538 loans. Mrs. Major responsibilities include:

+ Overseeing Construction and Servicing Staff
+ Review and approval of all check/wire disbursement requests
+ Review and approval of all draw and repair escrow requests
+ Reviewing construction billing statements
+ Maintaining compliance with HUD/MBI//RHS program requirements
+ Ensuring Borrowers stay within the approved construction budget
+ Process GNMA pools for certification and delivery

Mrs. Major graduated from Indiana Wesleyan University where she majored in business management and received her Master’s in Business Administration with a specialization in International Business.

Cheryl Martin

Vice President, Portfolio Manager

Ms. Martin has served as a Portfolio Manager for PR Mortgage & Investments since 2001. She is responsible for funding, delivery, and servicing 110 loans, which includes monitoring and disbursing real estate taxes, property insurance, and reserves for repair and replacement. Prior to joining PR Mortgage, Ms. Martin served as a client support manager and business loan specialist in the banking industry.

John Barger

Vice President, Portfolio Manager

Mr. Barger brings more than 20 years of real estate appraisal, sales, property inspection and servicing experience to the PR Mortgage team. He currently serves as Vice President and Portfolio Manager.

A 1982 graduate of the Indiana University School of Business; his responsibilities at PR Mortgage include overseeing client relations, construction draws, real estate taxes, insurance, required repairs, compliance with lender regulations, and escrow administration. He also ensures all FHA loans in the PR Mortgage portfolio have their REAC inspection.

Randy Winters

Assistant Vice President, Portfolio Manager

Mr. Winters joined PR Mortgage & Investments as a Portfolio Manager in 2006. Prior to joining the company, he served nearly 12 years as the Default Administrator at 40/86 Mortgage Capital, formerly known as Conseco Mortgage Capital. He also served 5 years as a supervisor in Default Administration at Banc One Mortgage.

At PR Mortgage, Mr. Winters is responsible for all servicing activity on a 140 multifamily loan portfolio. He is responsible for annual property inspections on all non-FHA loans as well as coordinating communications with our tax service vendor.

Angela Echard

Assistant Vice President, GSE Portfolio Manager

Ms. Echard joined PR Mortgage & Investments in 2013 as a Portfolio Manager. As a member of the servicing department, Ms. Echard’s responsibilities include the following:

+ Overseeing multifamily loan portfolio consisting of 130 loans
+ Proficiency in all aspects of construction loan administration
+ Managing departmental repair administration; including 82 active noncritical repair escrows
+ Handling all phases of the servicing portfolio – to include taxes, insurance, UCC filings and client relations
+ Funding and delivering mortgage-backed GNMA securities to identified Investor

Prior to joining PR Mortgage, Ms. Echard served as a multi-site regional manager for more than 25 years, specializing in class A multifamily, commercial, and retail real estate. Ms. Echard is a graduate of Indiana University where she earned a Bachelor of Science degree in Business Administration. Currently, Ms. Echard is pursuing a Master’s degree in Business Administration at Western Governors University.

Renee Hutsell

Portfolio Manager

Ms. Hutsell joined PR Mortgage & Investments in 2012 as an Asset Manager. She supports our team with 22 years of experience in P&L management and financial control of multifamily residential apartment communities.

Ms. Hutsell holds the designations of CFM and COS from the National Center for Housing Management, CAM and CAPS from the National Apartment Association, and RAM and ARAM from the National Association of Home Builders. She attended Rowan-Cabarrus Community College where she concentrated on accounting studies.

Ali Low

Portfolio Manager

Ms. Low joined PR Mortgage & Investments as the Receptionist and Executive Assistant in June 2013. Ms. Low accepted the position of Portfolio Manager in May 2015.

She is responsible for funding, delivery and servicing loans which includes real estate taxes, property insurance, escrow analysis, spreading and reporting borrower yearend financial statements, UCC processing, and disbursements.

Bob Tomlinson

Portfolio Manager

Mr. Tomlinson joined PR Mortgage & Investments as a Portfolio Manager in 2016. He is responsible for the funding, delivery and servicing of multiple loans within the PR portfolio.

He is a 2009 graduate of University of Indianapolis where he earned his degree in Sports Management.

Elizabeth Burke

Portfolio Manager

Ms. Burke joined PR Mortgage & Investments in 2017 as a Portfolio Manager. Prior to joining the company, she worked as a Multifamily Loan Processor and Multifamily Servicer. She graduated from Hillsdale College in 2013 with a Bachelor’s of Science degree.

Kate Belser

Construction Loan Analyst

Mrs. Belser joined PR Mortgage & Investments in early 2016 as a Construction Loan Analyst. As a member of the Construction Loan team, she handles all aspects of construction loans prior to conversion to permanent financing.

Mrs. Belser is a 2003 graduate of Franklin College and comes to PR Mortgage with 13 years of experience in marketing and restaurant management.

Rochelle Shores

Construction Loan Analyst

Mrs. Shores joined PR Mortgage & Investments in early 2016 as a Construction Loan Analyst. As a member of the Construction Loan team, she handles all aspects of construction loans prior to conversion to permanent financing.

Mrs. Shores is a 2010 graduate of Harrison College where she earned her degree in Criminal Justice. She is also working on completing her Bachelor’s Degree in Business Management through Indiana Wesleyan University.

Demetra DeYampert

Construction Loan Analyst

Ms. DeYampert joined PR Mortgage & Investments in 2016 as a Construction Loan Analyst. As a member of the Construction Loan team, she handles all aspects of construction loans prior to conversion to permanent financing.

Ms. DeYampert is a 2004 graduate of Alabama A&M University and a 2010 graduate of Indiana Wesleyan University where she earned her Master of Business Administration degree. She comes to PR Mortgage with over 7 years of Education Finance experience.

Regina Ransom

Construction Loan Analyst

Regina Ransom joined PR Mortgage & Investments as a Construction Loan Analyst in 2017. She is a 2007 IU Kelley School of Business graduate with a BS in Marketing and Business Management. She received her MBA from Indiana Wesleyan in 2014 in Accounting. She has been working in the financial industry since 2004 and has more than 10 years banking experience.

Processing

Marci Kreigh

Assistant Vice President, Commercial Loan Processor

Mrs. Kreigh joined PR Mortgage & Investments in 2011 as an Administrative Assistant/Commercial Loan Processor. Currently, Mrs. Kreigh is a full time processor responsible for all aspects of loan processing including the creation and management of loan application packages, credit reporting, monitoring of third party report completion, and financial spreadsheet creation. Additionally, Ms. Kreigh is responsible for management, development, and implementation of policies and procedures for the daily operation of the Processing Department which includes the administration of loan applications for our various loan programs.

Before joining PR Mortgage, Mrs. Kreigh served in several roles with single family housing production with various Mortgage Companies.

Peggy Clingan

Assistant Vice President, Commercial Loan Processor

Ms. Clingan joined PR Mortgage & Investments in 2001 as a commercial loan processor. In this role, Ms. Clingan is responsible for all aspects of loan processing including the creation and management of loan application packages, credit reporting, monitoring of third party report completion, and financial spreadsheet creation.

Before joining PR Mortgage, Ms. Clingan served in several roles of residential and commercial real estate loan administration with National City Bank.

Aretha Hutchins

Commercial Loan Processor

Mrs. Hutchins joined the company in 2012 as a Warehouse Lending Processor in the Mortgage Warehouse Division of Merchants Bank of Indiana managing single and multifamily accounts. In January 2015, she transitioned to PR Mortgage & Investments as a Commercial Loan Processor. In this role she is responsible for all aspects of loan processing including creation and management of loan application packages, credit reporting, monitoring of 3rd party report completion, and closing statement preparation.

Mrs. Hutchins has 8 years of mortgage experience in funding, post-closing, and processing USDA and FHA loans. Aretha is a Mississippi native where she attended Hinds College and later IUPUI in Indianapolis majoring in Psychology.

Sherry E. Cunningham

Commercial Loan Processor

Sherry joined Merchants Bank of Indiana (the parent company of PR Mortgage & Investments) in 2012 as a Mortgage Warehouse Lending Processor where she managed both single family and multifamily accounts. Sherry transitioned to PR Mortgage & Investments as a Commercial Loan Processor in January of 2017. In her current position, she is responsible for all aspects of the loan process, which includes creating and managing loan application packages, credit reporting, monitoring of 3rd party report completion, and closing statement preparation. Sherry has more than 13 years experience in the mortgage industry as a closer, processor, loan officer and underwriter.

Closing and Delivery

Bettina LeMere

Assistant Vice President, Closings

Ms. LeMere joined PR Mortgage & Investments in 2011 as a Commercial Loan Processor. In 2014, she was promoted to Loan Underwriter and earned the MAP Approved FHA Underwriter accreditation in 2015 after successfully completing the CampusMBA FHA Multifamily Training Program. In 2015, Ms. LeMere was promoted to Assistant Vice President – Closings where she oversees PR’s entire portfolio from commitment to closing.

Ms. LeMere holds a Bachelors degree in General Studies from IUPUI and an MBA with a concentration in Health Care Management from Indiana Wesleyan University.

Christin Currie

Closing Coordinator

Christin Currie joined PR Mortgage & Investments in March 2013 as an Executive Assistant. She was promoted to Commercial Loan Processor in 2014 and promoted again in 2015 to Closing Coordinator. In this role, Christin assists in overseeing PR’s entire portfolio and is responsible for all aspects of loan closings from the time of commitment. She continues to process loans exclusively for one of PR’s top clients.

Finance and Accounting

Bill Buchanan

Bill Buchanan

Chief Financial Officer

Mr. Buchanan joined PR Mortgage & Investments in 2014 as Chief Financial Officer. Since passing the CPA examination in 1984, Mr. Buchanan has spent the majority of his career in senior finance/accounting managerial roles in the financial services industry, most recently as the Chief Financial Officer of a mid-sized Indiana community bank from 2006 to 2014. Mr. Buchanan’s responsibilities include finance and accounting, human resources, compliance and asset/liability management.

Treg Bauchert

Vice President, Controller

Mr. Bauchert joined Merchants Bank of Indiana as Vice President and Senior Financial Analyst in 2015. In May 2015, Mr. Bauchert accepted the position of Vice President, Controller of PR Mortgage & Investments. He is a graduate of Marian University where he majored in Business Administration and a minored in Accounting. From 2010 to 2015, Mr. Bauchert was the Assistant Controller for Community Bank in Noblesville. Prior to working at Community Bank, he worked for Union Acceptance Corporation as an Accounting Manager and Union Federal Savings Bank as an Accounting Supervisor.

Kim Coar

Accounting Specialist

Ms. Coar has served in several roles since joining the company in 2007. In her current position as an Accounting Specialist, she is responsible for accounts payable processing and account reconciliations for both PR Mortgage & Investments and our parent company, Merchants Bank of Indiana. Ms. Coar is actively pursuing her Associates Degree in Accounting from Ivy Tech Community College. Prior to assuming her role as an Accounting Specialist, she worked as a Warehouse Lending Processor and Deposit Operations Specialist for MBI.

Administrative Staff

Rita Keith

Administrative Assistant

Rita Keith joined PR Mortgage as an Administrative Assistant in 2017 and also serve as a Commercial Loan Processor. She previously owned her own business and has studied business at Ivy Tech. Her professional background includes general contracting/real estate, legal facilities and litigation, and logistics.

Margaret Carmony

Receptionist

Ms. Carmony joined PR Mortgage & Investments in 2014 and serves as the company Receptionist. Previously, she worked as Assistant Operations Manager in the Marine Division of a Midwestern importer. This later led to a position as Supervisor of Supply Administration for a refined products distribution division of an energy company involved in the commodities market.

Ms. Carmony received real estate licensing as a Sales Associate for residential sales from the state of Montana. She also participated in courses with an in-house real estate trainer designed to improve sales and customer service.

Ms. Carmony holds a Bachelor of Science in Journalism and Political Science from Indiana University.

National and State Affiliations

  • Mortgage Bankers Association
  • Council For Affordable and Rural Housing
  • Apartment Association of Indiana
  • Indiana Health Care Association
  • Indiana Association of Homes and Services for the Aging
  • Indiana Council for Rural and Affordable Housing
  • Rural Rental Housing Association
  • Indiana University Real Estate Club

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