Chairman of the Board
Mike Allen is the Founder and Chairman of the Board of Crown Mortgage Company, a privately owned residential mortgage banking firm serving the Chicago area. Since founding Crown in 1975, Mike has guided the company through more than five decades of growth while maintaining a commitment to local decision-making, personalized service, and dependable mortgage lending.
Under Mike’s leadership, Crown grew to service as much as $1.1 billion in residential mortgages, representing approximately 14,000 loans, and established a significant presence in FHA and VA lending throughout the Chicago area. Crown is an approved Fannie Mae and Ginnie Mae seller/servicer and has a long history of serving veterans and active-duty military families through VA home financing.
Mike has also been an innovator in the mortgage industry. Crown was the first mortgage company to employ in-house FHA appraisers and developed an integrated approach designed to provide borrowers with greater efficiency and control throughout the mortgage process. Crown also challenged what was once an industry-standard 60-day approval process by introducing its 1-hour written mortgage commitment and ability to close in as little as 10 business days.
Crown’s accomplishments under Mike’s leadership have earned national recognition. ICM Consultants recognized Crown as one of the ten best residential retail production companies in the United States. The company was also once the nation’s largest FHA co-insurance lender and has ranked among the Chicago area’s leading FHA and VA lenders throughout its history.
Mike is a graduate of the Michigan State University School of Business and completed the Owner/President Management Program at Harvard Business School.
Before beginning his career in mortgage banking, Mike served his country as a United States Marine. He enlisted in 1965 and served three tours of duty in Vietnam, attaining the rank of Sergeant and receiving three Purple Hearts for wounds sustained in combat.
More than 50 years after founding Crown Mortgage Company, Mike continues to serve as Chairman of the Board, helping guide the company with the principles on which it was built: service, integrity, accountability, and a commitment to the communities Crown serves.