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Debra Shultz

SVP of Mortgage Lending
750 Lexington Ave, 4th Floor, New York, NY 10022
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NMLS: 49302
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This is the 3rd time I've used Guaranteed Rate. Once for a purchase, once for a buyout, and once for a refinance. Debra performs mortgage miracles!

Jeremy P.

Debra, Elizabeth, Ben, Melissa, Bobby - They were all stars! I had a great experience and the team kept me calm even though there were a lot of speed bumps in the process. Everyone was accessible via phone and quick to reply to emails, A+ customer service! Thank you for everything.

Kevin M., N.J. Nov. 2016 (customer)

Debra and her team are the best brokers I have ever worked with. I would describe her/them as quick, calm, professional and smart. A absolute pleasure to do business with.

Joey A., L.A. Nov 2016 (customer)

We had previously attempted to obtain a mortgage on the same property and it was a brutal, long process that lacked transparency. We were denied over something that had an explanation and was never questioned until we were told the application did not go through. Our experience with Guaranteed Rate was completely different. They were very kind and transparent and hand held us the whole way through the process to keep us on track. They also updated us on the timeline as things progressed. The...

Andrew R.

We've worked with Debra Shultz several times. She is very professional, thorough and quick to respond! I highly recommend her.

Zivia F.

Debra Shultz and her team made refinancing quick and painless. They were on top of the rates, the paperwork and found us the best rates.

Joseph D.

Debra Shultz looked carefully at my overall situation and provided a comprehensive solution that was delivered efficiently and professionally. I was very pleased with the advise and level of service.

Jonathan G.

I had an unusual situation. My Co-op was undergoing a refinance and because of timing, no banks would approve my building. Debra, as a last resort, decided to try and contact the bank doing my building's refinance to obtain my mortgage. It worked and I was able to close on my property. Because the bank wasn't typical, once the co-op's refinance was completed, I went ahead and refinanced with Debra. Again, she helped with everything and i closed on the refinance. Debra is so diligent and...

Nami K.

Debra and Stephanie were fantastic. It was a very stressful process with selling and buying at the same time. Debra and team were the gold star winners among all parties! Thanks so much.

Pedro D.

Debra came highly recommended by my close friend and my mortgage process was handled very well by Debra and her team. All of my questions were answered on the initial phone call and communication from start to close was efficient and seamless. I would contact Debra in the future and I would highly recommend her and her team to friends and colleagues.

Jennifer R.

Debra Shultz was a gem and made everything seamless. She was available to us at any time and never had to wait for a return call or e-mail. In a very stressful process, we were in super hands with her.

Diane T.

Debra and Elizabeth made magic happen. They worked tirelessly through all the unexpected hurdles and triumphed with a great mortgage. I appreciate all the care and expertise they brought to the process. They explained each step and how to best qualify for an optimal rate. I can't say enough wonderful things about them. I have already recommended them to another person. I told him that they are the best! Thank you!

Tim C.

Debra Shultz, Elizabeth & Debra Mann were amazing. They worked super quick and everything was flawless.

Fatima A.

I was amazed how quickly Debra and her team got back to me when I called or emailed with questions. Even on weekends! They got me a great rate, even after several roadblocks came up and handled everything with ease and confidence. They delivered on what they said they could. Fantastic!

Jeremy P.

Debra Shultz and her team were incredibly responsive from Day 1. The transition from one part of the process to another was seamless, despite various team members jumping in along the way. Debra found me a great rate, and I would recommend her services to anyone who needs them. I know that both my attorney and my real estate broker felt the same way.

William T. - New York, NY | Dec. 2015

Debra, you were a rock star once again. I can't thank you enough for getting me the refinance/buyout and helping me stay in my home. You are the absolute best. You do what you say you can do!

Jeremy B.

Debra Shultz was once again exceptional at guiding me through the process. She answered all of my questions immediately and accurately. She should be promoted!

Jason K., MD, FACC

Debra Shultz and her team were incredibly responsive from Day 1. The transition from one part of the process to another was seamless, despite various team members jumping in along the way. Debra found me a great rate, and I would recommend her services to anyone who needs them. I know that both my attorney and my real estate broker felt the same way.

William T.

Debra Schultz is hands down the best person I have ever worked with regarding mortgages: Efficient, clear communications, time sensitive and always makes herself available with the most common sense and pleasant manner. She is absolutely AWESOME. I have worked with her multiple times.

Mark S.

Also, the underwriting done by Debra and her team during the pre-approval/application process was quick and through resulting in almost no back and forth with the bank on conditions and endless document requests (this was a first for us). Ultimately, she closed the loan exactly with the terms and time frame promised and at a lower cost (another first)! Thanks again to Debra, Benjamin and Elizabeth — they are truly the best in the business.

2 of 2 - Jon and Diana M.

We’ve worked with many banks & mortgage brokers through the years purchasing and refinancing our homes. But with our latest purchase Debra and her team delivered, by far, the quickest, most painless and professional experience of them all. She worked with us for 6 months during our home search and was incredibly patient and responsive — helping us deal with bidding wars on multiple properties and sending us pre-approvals within minutes — even on nights and weekends!

1 of 2 - Jon and Diana M.

Within two days she found a mortgage with a low interest rate that would work. Debra is incredibly knowledgeable, organized and was responsive throughout the process. She took time to explain to me what to expect and how to prepare. She has a conscientious team working with her -- Benjamin Lazo and Elizabeth Sambrano were wonderful through the process. I’m deeply grateful for Debra's efforts and strongly recommend her.

(2 of 2) Arin A.

After 5 years of looking, I finally fell in love with a property. It has a huge garden, a garage, an incredible view, lots of light, a front porch, an additional unit for rental income, everything I could want. But there were issues with the house which made financing difficult. A number of people told me it would be impossible. And in Brooklyn, where the house is located, the real estate market is fierce. I needed to move fast. Thank goodness I reached out to Debra. I explained to her all of...

(1 of 2) Arin A.

This was a very smooth mortgage application process. Debra Shultz and her team, including Benjamin Lazo and Elizabeth Sambrano were very responsive and helpful.

Matthew T. – Brooklyn, NY | Sep. 2015

The first time Debra helped me secure financing was back in 2004. Her work ethic is what I remember through the years. So, when I needed to secure another mortgage, my husband and I agreed we should find Debra again. We found that she was at Guaranteed Rate and hired her again to help with our loan. She has wonderful associated whom helped in expediting all the paper work involved in securing our loan. Debra and her team helped us and made the process as simple as possible. I have and do...

Gaby M.

Debra is extraordinary to work with. This is now the second loan I have worked with Debra on, and both experiences were not only good, but great. Her responsiveness, ability to clearly articulate issues, and ability to resolve issues as they arise is unparalleled. From a customer service perspective, she perhaps the best I have worked with.

Mark D. - New York, NY | Dec. 2014

Debra Shultz was a pleasure to work with. Being a first-time home buyer, I had never gone through this process before, so there was much to grapple with. Debra was extremely helpful and answered my countless questions quickly & clearly, guiding me through the various steps.

Joshua A.

Thanks for all your efforts in getting the mortgage completed. I'm scared to think how I would have fared without your help, but lucky for me, you're organizational skills, responsiveness, and knowledge made a world of difference in navigating though this difficult (and somewhat painful) process. You were a tremendous resource and help. Thanks again for everything.

Roger C.

"The process was simple and quick. Debra was very patient with my inexperience and walked me through the whole loan application with such understanding. I was given an incredible rate. The line of communication was consistent and transparent, it really gave me a peace of mind for something that can be so complex. It was just an overall great experience."

Johnny T. - New York, NY, 1/7/2014

"Debra was phenomenal. She is the most responsive person I have ever worked with. She was always available with the right answers. She is both knowledgeable and willing to respond to inquiries at all times - and really seems to understand that a home purchase is a very large and very personal event. I would work with her again without reservation. She was exceptional."

Mark D.

Hey, check out this amazing review from Mel about Debra! “I have done several refinances now in my life and two of them I have done with Debra Shultz. Both were painless. She is the real deal. Things will go as fast and as easy as they can go with Debra as your broker. Also, during our first refinance with Debra, I did some research and she easily got me a significantly better rate. If you live in NYC and are trying to get a mortgage, there is no one else to call but Debra Shultz!”

Mel S. – Manhattan, NY – 6/2013

Hey, check out this amazing review from Rachel about Debra! “I just refinanced with Debra and she was wonderful from start to finish. She was responsive, informative, clear and always pleasant. She worked to get me exactly what I was looking for and walked me through every step of the way. I would recommend her to anyone without reservation!”

Rachel C. – Brooklyn, NY – 6/2013

Hey, check out this amazing review from Juliette about Debra! “Guaranteed Rate was wonderful to work with. They were on top of my apartment purchase and extremely helpful throughout the process. Debra and her team were able to secure a great rate for me. I am very happy with the service they provided!”

Juliette P. – New York, NY – 5/2013

"Debra did an incredible job with my refinance. She was extremely knowledgeable, friendly and very quick to provide answers and support. Debra made the whole process painless from start to finish. I would recommend her to anyone!"

David R.

"Debra was recommended by my broker who said good things about her and he was RIGHT! She is delightful to work with, gives you really good advice and makes the whole experience so pleasant that you want to buy more properties:-). For sure, I will recommend and contact Debra Shultz again!!"

A.G.

"I recommend Debra as often as possible - she is the fastest in response time of anyone I know! If I have a question - or refer a client - she is right on it with her smart, friendly, warm and professional attitude of service. Her work ethic and knowledge of the mortgage/refi business is exceptional - I recommend her without reservation!"

Julie N.

"There are mortgage brokers... then there is Debra Shultz. She is, in my opinion, in a class of her own. She has been my go-to person for 2 closings and a refinance and I honestly couldn't imagine navigating the process without her. She is incredibly responsive, fast and efficient, and has really helped to reduce the stress of what is always a challenging process. She is a pleasure to work with and always makes me feel she is my advocate and has my best interest at heart. I cannot...

Adam G.

About Debra

"A goal without a plan is just a wish…"

~Antoine de Saint-Exupéry

Debra is a Senior Vice President of Mortgage Lending at Guaranteed Rate. With over 18 years of experience in mortgage lending, she is an expert in residential mortgage financing for all property types, including single & multi-family residences, townhomes, condos, co-ops, condops, condotels, new developments, new construction, and conversions.

Debra has access to just about every mortgage product on the market. The more traditional products include options for jumbo and super-jumbo loan amounts, Fannie Mae & Freddie Mac conforming loan amounts, FHA & VA government loans and Construction and Renovation loans.

In addition to traditional mortgage products, Debra is frequently asked to make "mortgage magic" for non-traditional borrowers with out of the box scenarios. #AbracaDebra.

She has access to specialized products for non-traditional borrowers. Product features include interest only payments, private banks for high net worth clients, asset depletion in lieu of income verification, options for non-warrantable condos and coops, cross-collateralization, pledged assets, and financing for foreign buyers.

She has strong relationships with many of the nation's top mortgage lenders and is sought after by industry leaders for focus groups, pilot programs, software beta testing, & product opinions. Her core business partners include real estate agents, attorneys, developers, CPAs, accountants, financial advisors, wealth managers, and of course, her past clients.

One of her favorite testimonials described her as being "extraordinarily responsive". She understands that real estate transactions move quickly in her markets and is always just a text, email or phone call away.

Debra was named a Guarantee Rate President's Club member every year since she joined in 2012. She was also Named a Top 200 National Mortgage Originator by National Mortgage News in 2012, 2013, 2014 & 2015, Top 1% of Mortgage Originators by The Scotsman Guide in 2011, 2013 & 2015 and an Elite Woman in Mortgages by the MPA in 2013 & 2015 .

Prior to Guaranteed rate, Debra was a Managing Director at The Manhattan Mortgage Co, which was acquired by Guaranteed Rate in 2012, for eight years. She was ranked Top 10 in the company in 2009, 2010 & 2011.

Debra is bi-coastal. She is based out of our Manhattan office located at 750 Lexington Avenue, but frequently visits clients on the west coast. In her leisure time, Debra enjoys exploring The Big Apple and The City of Angels, yoga & meditation, clean cooking, cross-stitching, crocheting, football season, all types of music, furthering her education & most of all, spoiling her Maltipoo puppy named "Dash".

Debra actively pursues an organic & holistic lifestyle and is a health advocate for those suffering from thyroid disease and toxic mold exposure.

Debra is licensed through the NMLS (National Mortgage Licensing System) in the states of NY, NJ, PA, CT, FL, CO, CA & HI.

Debra interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
18 Years. It actually fell into my lap. After college, I worked as a mortgage loan processor for a year, but realized I was more interested in the sales side of the industry than ops. I loved the monotony of different product guidelines, structuring the perfect loan and holding the hands of my clients through the process.
Who is your typical customer and what questions do they typically have?
I don't really have a typical client. My clients are all over the map. They include, but are not limited to, millennials buying their first home, Gen Xers upgrading to their second or third, Baby Boomers downgrading to something smaller, anyone who can afford it buying a vacation home and foreign buyers investing in US real estate.
What specific steps do you use to help your customers find the best home loan for them?
We discuss current and long term financial goals, budgets, and how long they believe they'll hold onto the property. From there, we decide together which product, payment type and term would best fit their needs.
How long have you been in the mortgage business? What awards have you won?
Guaranteed Rate'sPresident's Club - 2012, 2013, 2014 & 2015 Top 200 National Mortgage Originators – 2012, 2013, 2014 & 2015 (National Mortgage News) Top 1% of Originators – 2011, 2013 & 2015 (Scotsman Guide) Elite Women in Mortgages – 2013 & 2015 (MPA)
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Fixed rates are great for conservative clients. There's nothing safer. But many of my clients do not keep their loan intact for 30 years. They wind up refinancing or selling within 5-7 years. Therefore, many benefit from an adjustable rate product that yields a lower rate that will not adjust before they refinance or sell.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
There are so many. One that comes to mind is a client who went into contract on new construction two years prior to completion. By the time it was time to close and their lives had changed. They needed far more financing than they first thought. I was able to obtain an 8MM loan at 80% financing by cross collateralizing another property they owned that had a lot of equity.
What advice would you give new or first time home buyers?
Work with someone recommended by someone you trust and read that loan officer's past client reviews. They speak volumes.
Tell us about a mortgage product that consumers may not be aware of?
Asset depletion. Clients that have a lot of liquid assets don't necessarily have recurring annual income. They don't need to work! Several of my lenders allow me to take their post closing liquid and sometimes retirement assets and annuitize them to derive qualifying income.
How has the mortgage industry changed since you started, and what would you expect in the future?
When I started in the late 90s, there were a lot of stated income and asset products. Even for clients that were not self employed. It was simply the function of the lender's underwriting engine. If you had good credit, a debt to income ratio below 45% and a few months of post closing reserves, they barely asked for any income and asset documentation. And then the market crashed, which didn't surprise me. Today, we are properly documenting income, assets and credit, as it should have always been.
What part of the home loan process do customers find most difficult and how do you help them through it?
The paperwork. As I mentioned before, we have to properly document income, assets and credit. But that means lots of paperwork. Clients should be prepared to provide proof of their current income, income for the past 2 years, assets spanning the past two months, payments on other real estate owned and explanations for various items, such as credit inquiries, large deposits, etc. My team and I try as hard as we can to ask for everything we think an underwriter will request upfront to minimize additional requests down the line, but they always come up. Patience is a virtue and responsiveness is a must.
What are the top 3 misconceptions people have about the home loan process?
That they have to have a large down payment. FHA allows 3.5% down and a credit from the seller to cover closing costs. VA allows 0% down and the same seller credit. That interest only products no longer exist. I have several interest only products available for conforming, jumbo and super jumbo loans amounts. That piggybacks no longer exist. I have several lenders who offer second mortgages up to 90% financing. In fact, I have one who offers an 80% interest only first with a 10% interest second on 1-4FAM properties. That is a home run for the right client.
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 Rates Digital Mortgage App. it is so easy to complete and is available 24/7. Don't have time for a call during the day? Fill it out at your leisure from your phone, tablet or computer. It also gives you access to Transfersafe, which is our secure doc transfer portal. And also gives you access to your Guaranteed Rate home page where you can monitor the status of your application and to do list 24/7. Street Easy if you're searching for properties in NYC. INYC doesn't have an MLS system, but this is pretty close. Almost every property for sale in NYC is listed on Street Easy. And it offers a plethora of information on the building and specific unit.
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
First, start by reading your loan officer's VP page. Get to know who they are, how long they have been working in the industry, what they specialize in, and most importantly, their past client testimonials. Next, speak with your loan officer about the fees associated with closing on the property you're purchasing. Are there any out of the ordinary fees associated with your purchase? i.e. Buyer paid city and/or state transfer tax for new construction and sponsor sales, mansion tax (it can trigger at a price of 982K in some instances), the Peconic Bay transfer tax for properties on the east end of Long Island, the capital funds contribution for new construction, etc.) And speak with your attorney about the ins and outs of the contract of sale and various contingencies. i.e. mortgage contingency, funding contingency, post closing possession, personal property, etc.
What can borrowers do to insure a smooth mortgage underwriting process?
Be responsive. When your loan officer or their ops staff request something, provide it quickly. Help them keep the file moving forward, rather than slowly and risk a bottleneck.
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?
In my spare time, I am a health advocate for people suffering from thyroid disease and exposure to toxic mold. I am very familiar with both.
Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
I regularly donate to the Guaranteed Rate Foundation, the ASPCA, St. Jude's Children's' Hospital and Children International.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up on the South Shore of Long Island and moved into NYC about seven years ago. I went to Hofstra University where I earned a bachelor's degree in Business Administration with a minor in Marketing.
What provides you with the most satisfaction in your job as a Loan Officer?
Making mortgage magic. Whether it's locking in a great rate and putting a huge smile on my client's face or truly performing mortgage miracles for the toughest scenarios, I love the end result. A happy client for life…
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
This is easy. Cuddling with my 4.5 pound Maltipoo, "Dash". I work from home many days and there is nothing better than typing away furiously on my laptop while he's napping without a care in the world in my lap. The best of both worlds! I also love being mindful and taking care of "me" through yoga, meditation, walks in the fresh air, listening to peaceful music, cooking organic food, turning to holistic remedies, etc.
Tell us something that makes you unique or something wacky, yet interesting about you?
I'm a Virgo! Some might say that makes me more wacky, than unique, but it's my favorite part of "me". It's the magic in my wand. I'm extremely organized, proactive, diligent and nurturing, which makes me an awesome loan officer.

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