Home » Frank Rexford
|Vice President of Mortgage Lending
NMLS ID # 119234
|Twitter / Linkedin / My Branch|
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Who is your typical customer and what questions do they typically have?
Loan Officer Interview Q&A's
Although I work with clients all over North Carolina, my typically client is relocating to the Triangle Area, often moving to the area to join one of the local universities. My business plan is to remain available to my clients long after their loan has closed, answering questions, and helping them decide if a refinance would be beneficial to them.
Tell us about a mortgage product that consumers may not be aware of?
Because fixed rates are so low, most people automatically gravitate to a fixed rate loan, and that is certainly safe, but adjustable rate loans are an excellent, less expensive option if you have a good sense of your future. Loans with mortgage insurance are also an excellent option for people with less than 20% down - and some borrowers can qualify for as little as 3% down. FHA loans are the right choice for many first time home buyers. But one of the best loans available is the 100% financing VA loan - so I like to find out right away if my client is a veteran and can take advantage of this amazing benefit.
What are the top 3 misconceptions people have about the home loan process?
Many people assume that it is hard to qualify for a mortgage today. In truth, I find that most all people who contact me do qualify for a mortgage. Some clients are also surprised at the amount documentation that can be required, depending on how complicated a borrower's financial situation is.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I have become an avid runner and triathlete over the past several years, so when I am not at my desk or in a closing, I can often be found swimming, biking and running around Chapel Hill, or competing in triathlons and running races throughout the Southeast. My next goal race is the Ironman 70.3 Augusta race on September 30th.
Tell us something that makes you unique or something wacky, yet interesting about you?
I keep a Rubik's Cube in my office to remind me that every loan can be viewed as a puzzle, and that helps me keep a fun perspective on my job. Along with being a mortgage lender, I am an avid triathlete and my health and fitness goals include doing triathlons throughout the rest of my life. And I still enjoy cooking great meals and exploring new wines, even though I no longer sell wine for a living!
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