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Katherine McNally, Branch Manager / Loan Officer, MA - Gloucester

Katherine McNally

Branch Manager / Loan Officer
NMLS ID # 39967

katherine.mcnally@guaranteedrate.com

Phone: 9788799313

Fax: 978.522.8319

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Loan Officer Interview Q&A's

How long have you been in the mortgage business and what inspired you to get into it?
I have been in this business for 19 years as a mortgage loan originator. During those years I have received many awards for outstanding customer service and top producer status. I have always loved Real Estate and even sold real estate for five years before becoming a Loan officer. Putting loans together for customers is a blast, each person has a unique situation and sometimes you have to really dig to figure out how to get them financed. The bottom line is, I really like to see people get a good deal and I am able to provide that for them.

Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I had this one client who was really having a hard time trying to keep her head above water. She and her husband owned their own home and wanted to take advantage of the low rates by refinancing. Well, it's not so easy anymore, she had a first and second mortgage and also some credit card debt that had piled up. In addition, she had also seen her business slowdown in the last year and her husband was out of work for a short time which caused stress; they were barely getting by. I advised them on what could be done and how we could structure the refinance, it came down to her husband waiting for .60 cent an hour raise that made them able to qualify. I just closed that loan, it saved them $600 a month and consolidated their debt, needless to say they are overjoyed.

What can borrowers do to insure a smooth mortgage underwriting process?
If you are going to apply for a mortgage loan in the near future I would suggest that you get your income and asset paperwork in order. (Find your W-2's, Tax returns, your most recent Pay stubs and your bank statements). Then, call your favorite loan officer and have them do a pre-approval. They can pull your credit report to make sure that you won’t have any issues and tell you exactly what you will need to have in order to get your loan approved. Doing the work up front takes no time and can save you from having last minute problems with your financing.

Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in Newton, MA attending Weston and Newton public schools up until high school where I then finished up at Brewster Academy in Wolfeboro, NH. During that time I spent my summers on Cape Cod with my Grandparents at their home in Hyannisport. Summers were great, I loved to sail and be with my family. I attended Curry College for a short time and then U-Mass and finally got my degree from Emannuel College in Boston. I eventually moved to the North shore in 1994 and never looked back. This is a beautiful place to live and work.

Tell us something that makes you unique or something wacky, yet interesting about you?
Along with being a Mortgage loan officer, I love to scuba dive. I take off whenever I can and head to the warmer climate for some fun in the sun. My last trip was Tahiti, and boy is that fantastic. There is so much to see underwater and it is very relaxing being weightless and free.


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