How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage business for 6 years; I was inspired to get into it by my economics/MBA education and passion for understanding the market.
Who is your typical customer and what questions do they typically have?
My typical customer is a middle-class, married person with a family asking questions about
Understanding costs and rates.
What specific steps do you use to help your customers find the best home loan for them?
I take the time to really get to know my customers legitimate goals and then match those goals with Guaranteed Rate’s endless available financing options.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Fixed rates have the advantage of never changing despite market dips and uncertainty, while typically having the disadvantage of slightly higher interest rates than ARMs. ARMS have the advantage of low initial, fixed interest rates that benefit people who are planning to sell the property in the near-term or simply refinance it soon. Disadvantage of ARMS are that the interest rates can fluctuate after the initial period, this means that the payment can increase when no one can predict the markets in the future.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I had a mother who had to wait for the proceeds from the sale of her home in Arizona to her son in Honolulu in order to simultaneously purchase her new home. This involved multiple “moving parts” all timing correctly such as realtors, attorneys, and multiple family members being available to communicate. Both loans closed on time as expected !
What advice would you give new or first time home buyers?
Do not rush into home buying ! Take the time to properly save a sufficient down payment or secure gift funds in order to remain solvent after moving into your new home. Always go with the nation’s leading home financiers, Guaranteed Rate !
Tell us about a mortgage product that consumers may not be aware of?
Lender-paid mortgage insurance (LPMI); when your mortgage balance to home value ratio is 80% or greater, private mortgage insurance is required to be paid by the borrower each month,
But with LPMI, the borrower can have the benefit of letting the lender pay the mortgage insurance.
How has the mortgage industry changed since you started, and what would you expect in the future?
Dodd Frank has made lending more safe for borrowers and more restrictive/cautious for lenders. I would expect mortgage lending to become more competitive and regulated if the American economy grows stronger and more stable during the Trump administration.
What part of the home loan process do customers find most difficult and how do you help them through it?
Understanding the option that is really best for their true needs and helping them become
Eligible/approvable for it where other lenders failed.
What are the top 3 misconceptions people have about the home loan process?
-mortgage credit inquiry will automatically hurt their FICO score
-the interest rate is the most important factor
-a mortgage quote will be attainable exactly as stated from any lender
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?
Zillow 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?
What can borrowers do to insure a smooth mortgage underwriting process?
Submit all required documents upfront as soon as possible and reply to any questions/requests
Thoroughly and promptly.
Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
Yes ! Guaranteed Rate foundation.
Summary of where you grew up: family, affiliations, college, high school, etc.
Grew up in St Charles, IL. Marmion Academy in Aurora, IL, NIU/IAE Bordeaux, France for economics undergrad degree and MBA
What provides you with the most satisfaction in your job as a Loan Officer?
Surprising a customer and educating them about a financing option that is better than any other
Option available for them.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
Playing guitar, running, meditating, travelling, soccer
Tell us something that makes you unique or something wacky, yet interesting about you?
I speak fluent French, having lived in Bordeaux during business graduate school.