Stowsentry.com - Clunk companies will handle FannieMae cases

by Kristin Casale

Associate Editor

Stow -- Since being named a FannieMae attorney, John D. Clunk said he expects to expand his companies even more than planned after they move to Stow.

Clunk learned Aug. 6 the Federal National Mortgage Association, also known as FannieMae, approved his application to handle cases for the association effective Oct. 1.

"Anything related to the Federal National Mortgage Association has to go through my office," he said. "That's going to fill [my] offices much quicker than expected."

Clunk is set to move his operations this year from Hudson to Courthouse Boulevard, near the future site of the Stow Municipal Courthouse.

He plans to bring 170 employees to Stow to a planned facility estimated to cost $6 million to $8 million.

Clunk's operation began in Hudson in 1999 as a single law firm, but his business grew steadily over the years to include seven total operations -- collectively known as the JDC companies.

Aside from his Hudson businesses, which perform legal and title work, among other services, he also owns a satellite office in Georgetown, Ky., that will not move to Stow.

When he announced his plans, Clunk initially expected to add another 45 full-time jobs within 36 months based on the rate at which his businesses have grown in the past.

But now that he has been designated as a FannieMae attorney, he expects to add another 40 jobs to his workforce, possibly in the next few months, to handle the additional case load.

"It's very exciting," said Clunk. "I've been doing this stuff since '87, and it's always been a goal of mine to be a FannieMae-designated counsel."

Stow Mayor Karen Fritschel said she is "thrilled" Clunk's companies have even more potential to expand.

"That's amazing," she said. "Those are very good jobs, and they'll help our tax base, which will help our residents."

Clunk thanked Rep. Steven LaTourette for his role in getting his FannieMae application approved, saying the Congressman wrote a letter to FannieMae recommending the association approve Clunk's application.

LaTourette said "We were happy to help him ... and we're happy it worked out."

E-mail: kcasale@recordpub.com

Phone: 330-686-3917