How long have you been in the mortgage business and what inspired you to get into it?
Since 1995 because of the ability to help families with their home loan goals.
Who is your typical customer and what questions do they typically have?
The typical costumer generally has an idea in mind of what they want, I try to give the costumer options based on their scenario so they can expand on their idea, Typically after a few minutes the costumer tends to have more questions then when they started.
What specific steps do you use to help your customers find the best home loan for them?
My goal is to ask the questions that will put the costumer in the best position for there future. From there I will give them all of their options and let the customer decide on what is best for them.
How long have you been in the mortgage business? What awards have you won?
I have been in the mortgage business for over 20 years and 15 of those were working as the owner of my own mortgage broker company. I understand and I am experienced in all fields of the mortgage industry, this has led me not only to be the top broker with any lender but has and currently led to being a top pro-forming banker working for a direct lender.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
The pros and cons of a fixed rate mortgage VS an Adjustable rate mortgage completely depend on the goals of the customer. Most of my costumers prefer the fixed rate options where others enjoy the short term benefits of an ARM. Fixed rate loans give an absolute outcome where the ARM loans, although they offer a lower fixed rate for a specified amount of time , have the potential after the fixed portion of the term to change. When choosing an ARM my goal is to educate or ask the customer if they understand the product in its entirety and seek to understand if this is the best fit for there situation. Lastly, I will raise questions about taking the arm to make sure it is the best fit for the customer by exploring more options.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
With today's lending guidelines and new federal regulations, the residential lending process has become a complex process, I wont go into the specifics of anyone's transaction as they are all different. With regards to the question above, I will say that I have seen challenging transactions start out and finish very smooth and I have also seen very smooth transactions end up more challenging. To sum it up, there are many moving parts aside from one's credit, equity and income as there are many different parties working together such as title, appraisers, processes, and underwriters all having to agree on the initial application. This is where I oversee these parties to ensure that the challenges are minimized and the customer experience will be a pleasant one.
What advice would you give new or first time home buyers?
Please speak with an educated mortgage banker that understands not only the lending process but also has home ownership experience on multiple levels. By doing this you will not only understand the upfront and future costs associated with purchase but you will see the financial impact of taking on home ownership.
Tell us about a mortgage product that consumers may not be aware of?
There are so many products available in the market today. Each one is designed for a specific borrower's situation and can only be described by the need of the customer.
How has the mortgage industry changed since you started, and what would you expect in the future?
Today the residential lending industry has changed to protect the consumer and the lenders as a whole. New and revised, detailed, federal and local laws are now in place to educate the consumer so that they will have accountability. This will also protect the lending industry knowing the details of their borrower and combined are in place to protect the housing and lending market in America.
What part of the home loan process do customers find most difficult and how do you help them through it?
I find it's the initial application and the willingness to begin the process to lower their monthly payment and interest rate
What are the top 3 misconceptions people have about the home loan process?
1, A long, time consuming, Burdensome process, that is only true with mortgage bankers who are new to the industry or lenders that are not streamlined in the home loan process.
2, That the saving wont be worth the effort of looking into a savings for their loan, this is a big one and should be number one as home owners make their payments and think they are doing well with their loan until they take the time to see their options and realize they could save up to hundreds and thousands of dollars per year.
3, the last one is that what they hear rates are compared to what they have is better , often times I will offer a lower rate on a shorter term saving hundreds of thousands in interest where the consumer thought they had no benefit in the begining
What 2 or 3 mobile apps would you recommend for home buyers or house hunters, and why? What Smart Apps do you recommend your customers use for the house hunting process?
Guaranteed Rate Digital Mortgage, Red Fin, and Zillow as you can see what you qualify for on the GR site then you can search available home values on red fin and if you're selling your home, Zillow can give you a ball park idea, depending on the area you live as to what your current home is value is at.
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
Speak to an experienced mortgage banker at no obligation for any and all advice you can get, then research via the internet to expand and confirm all aspects of the transaction.
What can borrowers do to insure a smooth mortgage underwriting process?
Provide all of your documentation pertaining to your loan application and set yourself an honest expectation of your situation so that they can get through the process with all of the required information
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 hold a licence on the state and federal level. I also hold a Real Estate Broker licence and understand real estate and mortgage lending laws.
Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
I am involved in several christian church organizations and have actively participated in outreach programs
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in the city of Orange in Orange County California, shortly after high school I got into the mortgage business and have been here ever since.
What provides you with the most satisfaction in your job as a Loan Officer?
Helping families obtain their financial goals.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
Spending time with my family.