What specific steps do you use to help your customers find the best home loan for them?
By asking a series of questions, and learning of my client's financial goals and objectives I am able to create a user-friendly analysis which we review together through modern technology. A review of this analysis is extremely insightful and useful in helping them make their final selection of loan.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
A purchase of a borrower who had started a self-employed business but didn't continue it and never officially closed it. Instead he was reporting negative earnings on his tax returns which negatively impacted his income from his W2 job and this disqualified him for the loan. We contacted the necessary agency and closed the business officially, but our underwriter still accounted him for the negative earnings because he had failed to close the business earlier in the year. At the time of his purchase we were 10 months into the year. We found other income sources he had and eliminated credit card debt in the middle of his transaction saving the deal and creating very happy clients.
What are the top 3 misconceptions people have about the home loan process?
Closing credit cards will help their credit profile look better. This is very harmful to your credit. Shopping for home loans with multiple lenders will give me better options. This will cause multiple inquiries on your credit lowering your FICO. Finding the property first, and then getting pre-approved for a home loan. This is putting the cart before the horse.
What provides you with the most satisfaction in your job as a Loan Officer?
When my clients tell me they feel they are being well-communicated to and feel confident with me as their mortgage professional.
Tell us something that makes you unique or something wacky, yet interesting about you?
I love to sing in my spare time