How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage business for about 17 years. I started working for a local bank as intern in college. I always had an affinity with numbers and helping people. It was a perfect fit when I was afforded the opportunity to learn the mortgage business as a part of my management training. The rest is history, as they say.
How has the mortgage industry changed since you started, and what would you expect in the future?
I started in this business in 2001. I do not think that there is any part of the business that is the same. I remember processing loans that had 3 ply carbon copy paper, one for the Bank, one for the client, and one to be recorded. I have also worked for a large wholesale subprime mortgage lender in my career. I do not think that there is a loan that we could not do as evidenced by the mortgage meltdown in 2008. As things tightened in 2010, it was very difficult to do any loans at all. I think it has eased up a little bit over the last few years and I expect some private lenders to reappear in the market. It will never go back to the times of the subprime market but I do expect loans to be more readily available in the coming years.
What can borrowers do to ensure a smooth mortgage underwriting process?
I give all my clients a roadmap to success when they apply with me for a loan. This gives them an idea of what they are responsible for and some timelines of when they need to do things. I always tell them that I am on their team to get their loan to closing. If there is anything that comes up during the process, they need to let me know. If I do not know what might blow up in our face, it will probably do that. I tell them that this is not brain surgery and most every issue has a solution.
What provides you with the most satisfaction in your job as a Loan Officer?
I love to solve problems. Of course, I enjoy the satisfaction of helping people get into a home but even more, I like to take tough files that might not have worked other places and try and find a solution to them. It sounds corny, but I always liked those SAT questions that were like Train A leaves the station at 9:50 and Train B leaves the station at 10:15 and they are traveling at different speeds, when do they meet up. I look at every mortgage loan as one of these word problems.
Tell us something that makes you unique or something wacky, yet interesting about you?
I was in the restaurant business for many years at the same time as the mortgage business. I ran a couple of restaurants and even owned a pizza shop for a short time. It is always a goal of mine in retirement to own and be a chef of a restaurant. I cook all the time and if I was not successful in the mortgage business, this would not only be my passion but my career choice.