How long have you been in the mortgage business and what inspired you to get into it?
I started my career in mortgage banking in 1982! Initially I was drawn to this industry because of my interest in real estate. As a licensed realtor I was hired to manage a portfolio of properties owned by my employer. As my career progressed I became interested in the lending side of the Business. I let my real estate license expire and starting originating mortgage loans in 1987.
Who is your typical customer and what questions do they typically have?
I don’t really have a “typical” customer. I have clients who may be downsizing, who then may refer me to their children who are moving up, and even sometimes their grandchildren buying their first home. My referral partners are vast and deal with a wide range of buyers and sellers. You have to stay current on programs and guidelines so you can best meet the needs of a wide variety of borrowers.
What specific steps do you use to help your customers find the best home loan for them?
? I believe the best way to meet the mortgage needs of a borrower is to talk with them about their lifestyle and determine their long term financial goals. That’s the only way to determine the best home loan option. Communicating with, and understanding my customer is key.
How has the mortgage industry changed since you started, and what would you expect in the future?
As a “seasoned” professional I have seen tremendous change in our industry. When I started originating we were completing loan applications by hand, figuring APR’s manually and using typewriters to prepare closing documents! Saying that to say, obviously the biggest change I have seen is technology and the efficiencies it has brought to our industry. I have no doubt the technology piece will continue to improve the lending process going forward.
What part of the home loan process do customers find most difficult and how do you help them through it?
I believe customers struggle most with gathering the required documentation and understanding the importance of getting this documentation to the lender in an efficient and timely manner. Lack of, or late receipt of documentation has a tremendous impact on the quality and timeliness of loan approval and closing. I take time to communicate with my borrower to be sure they understand what is needed and why. We also set time expectations so we have a smooth stress free transaction.
What are the top 3 misconceptions people have about the home loan process?
#1 is down payment requirements. Homeowners still believe they must have a large down payment to purchase a home when in fact you can purchase a home with as little as 0-3% down. #2 is their credit must to be perfect to obtain financing. So often we can work with an individual to address past credit issues and still provide them good financing options. #3 is that their loan transaction should be just like their friends or families last experience. Guidelines and documentation requirements can change often and seldom do the attributes of one transaction mirror another. Each loan and each borrower bring unique needs to the transaction.
What provides you with the most satisfaction in your job as a Loan Officer?
There is nothing better than attending a loan closing and watching a new homeowner get the keys to their new home! It’s the BEST!
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
During my spare time I enjoy spending time with family and friends first and foremost. I also like to carve out time to paint and participate in any art related events whether that is a workshop, touring a new gallery or viewing a new installation at one of the amazing museums we have in and around our community.
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