Karen Pribnow
Executive vice president and managing director of servicing for NorthMarq
After 40 years with Bloomington-based NorthMarq, Karen Pribnow, 65, will retire as leader of its loan-servicing business at the end of the year. NorthMarq is a commercial real estate investment banking firm that places commercial real estate loans with a variety of investors. Pribnow, a native of central South Dakota, built the company's loan-servicing practice from $500 million in 1988 to $41 billion today and expanded the department from five to 100 people. Pribnow, who's well-known among lenders across the United States, has serviced both residential and commercial real estate loans in her career. The NorthMarq team services commercial real estate loans on behalf of 50 life insurance companies, Freddie Mac, Fannie Mae, Ginnie Mae and more than a dozen commercial mortgage-backed securities conduits. Bert Libke, NorthMarq's senior vice president/director of servicing, will take the reins following Pribnow's retirement.
Q: How did you get into loan servicing?
A: The first job I had was at American National Bank in St. Paul in more of a clerical position in the mortgage loan department, and I liked it, so I pursued it.
Q: And you worked your way up into management?
A: Yes. I just always liked new challenges so whenever anyone asked me to do something, I'd take it on and I kept learning.
Q: That must have been unusual for a woman in the 1960s?
A: It was. There were a lot of clerical women but there weren't really any in management. It was pretty much all men in that profession. There were some issues because it was a man's world … but NorthMarq always backed me up.
