Who is your typical customer and what questions do they typically have?
My typical customer is a family that may have had credit issues or possibly a bankruptcy in the past. They ask how long they need to wait or what is the best way to get back on the path to homeownership. Many regular families were caught up in the mortgage crisis. I like sitting down with them, running their credit, and explaining their situation and options to them. Some situations are worse than they thought, but many have situations that are better than thought.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
Many guidelines say a car lease may never be removed from debt to income calculations. I helped a family get a loan by removing their lease payment. Their family history was being a one car family and mom had just retired. We were able to underwrite without the lease payment and they qualified.
What are the top 3 misconceptions people have about the home loan process?
1. All lenders are the same. Simply not true. Always get a second opinion. Not all lenders can close loans on time and fees are definitely different from lender to lender. I love Guaranteed Rate. We have low, low rates and so many different lending options. Our Digitial Mortgage allows the entire loan process to be done from home.
2. The Loan Officer approves the loan. Not true. The loan officer helps prepare the file for underwriting. Underwriting is the final authority on approving the loan.
3. Providing documents happens once. False! After providing the initial documents (W2s, Bank Statements, etc.), there will be at least two more times that a lender will need verification or additional information. Be patient, as lending has changed from what many customers have become accustomed to. Providing thorough documentation in a timely fashion will get your loan through the process quickly.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
Coaching my children's sport teams or simply watching them play sports is without a doubt the activity I enjoy doing the most in my spare time.
Tell us something that makes you unique or something wacky, yet interesting about you?
I attended Covert Avenue Elementary School in Elmont, NY and skipped second grade.