Who is your typical customer and what questions do they typically have?
I work a variety of clients all over the state of California. I have first time home buyers and clients moving up or downsizing. Questions can be different but all care about their rate and payment. I am very sensitive to this as this is the biggest loan they will have and it is important to get them the best rate and program based on their situation. Fees are important as well. I review the clients goals and financial situation as well as their credit reports. I work on rescoring credit reports when ever I can as the "score" hold a lot of weight in what I can offer in rate. The rate is made up of loan amount, value of the property, clients debt to income ratio's and reserves. Being able to review the clients information up front helps me to get them in the best position possible when they start their home search. I work with clients to consolidate debt such as student loans and combined their first and seconds as their equity improves.
What specific steps do you use to help your customers find the best home loan for them?
Each client’s situation is different. I like to set up a phone call or face to face meeting with the client. I think it is important to find out their goals and objectives. We discuss family, jobs, income, assets, credit and long-term goals. I present several loan options and explain the pro’s and con’s for each. I have some great tools I use that dive a little deeper into the details of the loan, how quickly they can pay off the loan, what are the tax benefits, how much of their mortgage payment is “interest” vs. “principal”, owning vs. renting. I describe the loan process and the importance of getting “approved” vs. “pre-approved”. We have the file underwritten prior to the borrower starting their home search. This gives them an advantage over other offers as their loan is “approved” and all we will need is the Purchase Contract, Preliminary Title Report and appraisal.
What are the top 3 misconceptions people have about the home loan process?
I think it is great that the consumer is much more aware of the process and believe they now have a better understand. Most clients care about rate, and I agree that is important, but there is so much more to the process. Underwriters are not just looking to see if they can approve the loan based on income and assets, they are looking for fraud and money laundering because of all of the mortgage defaults in 2008 and after. I think this is a plus because mortgages that are approved now, are based on the borrowers ability to repay the loan. We are very careful about not exceeding debt to income ratio's that could cause an issue with the borrower being able to make a payment.
Are you active in any local associations or community groups, and at what level? What goals and/or success have you helped these groups achieve?
I am involved in Pet’s Lifeline, an organization that protects and improves the lives of cats and dogs through sheltering and adoption, humane education and community programs.
I also am involved in Impact 100, an organization started by women who donation $1000 per year and all of the funds are given to selected non-profits. Originally, there were 100 women and $100,000 was donated. This year over $300,000 was donated!
What provides you with the most satisfaction in your job as a Loan Officer?
Happy Clients! I recently received a call from past clients I had helped purchase a home in 2015. Their family was growing and they needed to make a move. They completed our on-line application and provide me their documentation. I had them approved within 24 hours. In the market where they wanted to purchase, they needed to have no loan or appraisal contingencies and the ability to close quickly. Within a few days, they found a home and out of 21 offers, theirs was accepted! It is a team effort to make things happen. I was able to qualify them to purchase without selling their home first. Once their purchase closed, they listed their home and sold it for over asking! Now THAT makes me happy!
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I love travel and adventure. I have sky dived, flew in a Ultra Glide in Cabo, done scuba diving (and I can't swim), recently flew through the air on a Trapeze, zip lined, I like kayaking, snorkeling. I like to wake up at 5ish and workout before I start my day. I do rowing, cycling, TRX, yoga, weights and try new things all the time.
Tell us something that makes you unique or something wacky, yet interesting about you?
I started my family very young. I was married at 19. I had two children shortly after, who are both working in the mortgage industry now. I had a third child about 9 years later, who is getting married this year. I am now a grandmother of 5, three boys ages 15, 10, and 6 mos and 2 girls ages 7 and 9. I love animals! I have three dogs; two Labs and a German shepherd.