GuaranteedRate - Mortgage Company

Scott Somerville

VP of Mortgage Lending
4550 W. 109th St, Suite 140, Overland Park, KS 66211
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NMLS: 269657
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About Scott

Scott Somerville is the founder and team leader of the Somerville Mortgage Group powered by Guaranteed Rate. We pride ourselves on providing a fast, fun and less frustrating loan process. Our team works diligently to work efficiently and utilize cutting-edge technologies to streamline the loan process. Our workflow sets us apart from our competition and allows us to work 100% off referrals from satisfied clients and real estate partners.

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Scott interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage industry since February 2000. I am passionate about helping families and individuals through the mortgage process because of how critical the right advice and execution is to making such an important financial transaction a success.
Who is your typical customer and what questions do they typically have?
My typical customers are every day folks who work hard and want to make the smartest choices as it pertains to their home and their mortgage. Customers want to know if you have their best interests in mind and if you and your team can deliver on the promises you set forth.
What specific steps do you use to help your customers find the best home loan for them?
Listening is the most important part of the process. It is hugely important to really ask the right questions and fully understand a clients goals, budgets, needs and desires.
How long have you been in the mortgage business? What awards have you won?
I have been in the mortgage industry since February 2000. I have been recognized as a Top 1% Originator for several years in a row.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
A fixed rate offers the most security to a homeowner over a long period of time. An ARM offers a lower interest rate up front but carries more risk beyond the initial fixed period. It is critically that clients have the right information to weigh the benefits of the lowest rate / payment short term against the right amount of financial security long term.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
No two mortgages are the same. The process can bring surprises that you didn’t expect and the most important thing is to handle any issues confidently and competently. We are all on the same team so patience and understanding are important as well.
What advice would you give new or first time home buyers?
Learn as much as you can through out the process but also find professionals (Realtor, Lender, etc.) that you trust that can you help you navigate the home-buying process. You need to be aware but also advised by great people.
Tell us about a mortgage product that consumers may not be aware of?
Mortgage products are pretty similar in most instances but I have always loved Renovation Mortgages and $0 Down products like USDA Mortgages and VA Mortgages that offer additional benefits to our clients.
How has the mortgage industry changed since you started, and what would you expect in the future?
The mortgage industry has changed a lot in the past several years. We have seen significantly more red tape recently which can make the process a lot more frustrating if not managed by the right team. Technology is reshaping our industry currently and I expect more efficiency to streamline the process and improve the customer experience.
What part of the home loan process do customers find most difficult and how do you help them through it?
Documentation is often the most frustrating part of the process for most clients. The regulations imposed on our industry require that documentation is analyzed to a very high standard. The key is setting the right expectations and in many cases assisting our clients with gathering the right documents the first time to avoid delays and/or frustration.
What are the top 3 misconceptions people have about the home loan process?
(1) The mortgage process takes 30-45 days. (2) People underestimate the number of parties that are involved in a single transaction. (3) Clients often think all lenders are created equal.
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?
(1) Zillow (2) Guaranteed Rate Mobile App
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
Your Lender and his/her team are the best resources for information and implementation. A solid team, including a great Realtor, is often the single biggest difference for those who have a positive experience compared to those who have a negative one.
What can borrowers do to insure a smooth mortgage underwriting process?
Communication is the name of the game. The first week is often the most critical time to explore options, ask questions and provided needed documentation.
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?
We are very active in our church and love being a part of our local community. My family is busy with my wife and 3 young children so we spend most of our time and energy on sporting activities and school work.
Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
We have several smaller charitable causes but we do most of our giving through our church.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in a small town in IA (Population ~ 200) until the age of 18 and have lived in the Midwest for my entire life. Growing up in a small town helped my desire to interact with people and is a big reason I am comfortable dealing with people in almost any situation.
What provides you with the most satisfaction in your job as a Loan Officer?
I enjoy the feeling of making a difference in the lives of my clients. The excitement of a first time home-buyer or the pride of my clients in purchasing their dream home is the thing that renews my passion for this business.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I love our local sports teams and spending time with my family. My favorite hobby is playing poker and I would love to play more golf when my kids get older and it is easier to bring them along or just find the time to sneak away for 5-6 hours.
Tell us something that makes you unique or something wacky, yet interesting about you?
I am a total goofball and never take myself too seriously. I am extremely “techie” but more than anything, I love people, I love laughing and I always try to do the right things for my clients and my employees.

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