Home » Elisabeth Ryan
Senior Loan Officer
NMLS ID # 441907
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Loan Officer Interview Q&A's
I have been in the mortgage business since April, 2005. Was a realtor before getting into mortgage lending. Love real estate and helping people buy the home, whether it is first, second, vacation or investment homes. It is usually the customer's biggest investment. I pried myself on finding the best solution for the mortgage or the refinance. Sometimes a FHA 203K (rehab) loan is in order, and you definitely need the handholding of a professional, such as me, to help you navigate thru the maze. My customers come from all walks of life. I work with many First Time Home Buyers, love helping them thru the process. I live in an area that has a lot of vacation homes and get to work with people from all over the country. We also have a lot of investment opportunities here, so that has also became a big part of my business
What advice would you give new or first time home buyers?
Best advise I can give to a new of first time home buyer, is to if at all possible, sit down with your loan officer after the initial consultation. Make sure the loan officer take you thru the process from A to Z and also introduce you to the people involved in the transaction. You need to know what is expected of you and what to expect from the process. This will make the transaction smoother and less stressful
What can borrowers do to insure a smooth mortgage underwriting process?
I always advise my customers on what type of documentation will be needed for their loan and also the importance of the completeness of the documentation. We discuss large deposits and what is needed for the sourcing of the large deposits. If there are some unclear areas in the application, I ask them to provide a letter of explanation, etc. I go thru every step of the way and explain why this documentation is needed. This usually result in a nice, complete submission to underwriting and eliminates many conditions on the loan approval.
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 the treasurer of our Condo Association of 64 units. When I started in 2010, I realized our budget and reserves were not up to par for financing. We also had our FHA condo approvak expire. I worked hard with the other board members to get a budget and reserve plan going that passed FannieMae and FreddieMac requirements. I also just got our FHA condo approval reinstated in September, 2012. Condo financing is difficult, but not impossible. This has also became another specialty for me.
Tell us something that makes you unique or something wacky, yet interesting about you?
Being Swedish and not spoiled by great summers growing up, I absolutely love the summers here. You will find me and my dog, Eddie, out on our lake during the weekends. Thank goodness for technology, I can run my office from my Iphone or Ipad in my paddle boat. :). Most Sundays I will work Open Houses, but by 4pm we are off paddling....
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