How long have you been in the mortgage business and what inspired you to get into it?
Early in life I knew my career would involve real estate and with a degree in Real Estate and Finance it came together quickly for me.
Who is your typical customer and what questions do they typically have?
My business and clientele is primarily referral based and includes Realtors, Homebuilders, CPA and Financial Planners. A large percentage of my client/borrowers have used my services more than once and now I have the privilege of providing mortgage services for their children purchasing a first home.
What specific steps do you use to help your customers find the best home loan for them?
The best home loan result for a client is focused on prudent mortgage planning. Buying or selling a family home is a great time to rebalance your financial statement. It's also important to consider various taxable events, future cash and cash flow requirements as well as the restrictions imposed on Texas homeowners by the state Constitution.
How long have you been in the mortgage business? What awards have you won?
August 1983 was my first year in the mortgage business as a loan officer and within a couple of years I earned multiple awards for high productivity and loan volume. I've enjoyed many awards over the years having closed more than 10,000 loans career to date. My most recent awards include the Five Star Mortgage Professional for 2014 and 2016
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
I think the Pros and Cons are obvious and prefer to address the client's needs and communicate those needs rationally. A fixed rate loan is often the default choice and more commonly, the more expensive selection since the client may be paying a higher interest rate for coverage/protection from rate fluctuations longer than is necessary.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I've had more than a few over the years including the translation of documents for Foreign National clients, meeting clients in person on holidays at the airport due to time constraints, and hiring service providers to obtain legal documents in distant courthouses to get to the finish line/closing on time.
What advice would you give new or first time home buyers?
Web based research certainly has it's place however it's no substitute a face to face interview or conference call with an experience mortgage professional. Plan ahead, prepare your documentation well, and ask questions. I prefer an engaged client that understands the entire process and recognizes the service level I provide. I am very grateful for the testimonials on my website many of which are from first time home buyers.
Tell us about a mortgage product that consumers may not be aware of?
There are several that come to mind including many financing options for the retired client borrower making a home purchase. This is a specialty I have developed and I find this very satisfying. I think a purchase transaction with the renovation loan is of high value in the Texas market as well.
How has the mortgage industry changed since you started, and what would you expect in the future?
The short answer would be technology and Guaranteed Rate is the leader. With technology comes efficiency and a greater level of information. Clients are pleased with the accuracy afforded in the upgraded regulations which is driven by our superior technological platform, Digital Mortgage.
What part of the home loan process do customers find most difficult and how do you help them through it?
Once a client has qualified the most challenging area is collecting the credit documentation without information gaps such as missing tax forms/pages or missing pages of bank statements. Many client are also assembling funds for the down payment and the source of these funds must be "eligible" as they are moved into position for closing.
What are the top 3 misconceptions people have about the home loan process?
# 1 - Furnishing most of the credit documents should be enough for approval.
# 2 - Large down payments should buyout the need to prove qualifying income.
# 3 - Vendor services including appraisers will perform in 48 hours.
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?
There are many and I only recommend my 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?
The Guaranteed Rate website provides expert guidance and expertise for most any topic you can imagine. Spending a few minutes on the topics you are not familiar with or don't fully understand will be time well spent.
What can borrowers do to insure a smooth mortgage underwriting process?
Recognize that you may be asked for additional information once the file reviewed has been completed by the underwriting team. A well prepared file will keep the later requests to a minimum. The information requested is not personal in nature but required from a compliance standpoint to meet investor or regulatory guidelines.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
We recently adopted a rescue puppy from our local animal shelter and after a few weeks of training everyone is so happy! Great pets will change your life for the better. My wife Cari and I enjoy culinary tours and cooking schools for vacations and I am a sports car fanatic by most standards.
Tell us something that makes you unique or something wacky, yet interesting about you?
I have a memory for numbers including zip codes, phone numbers, and any number of other oddities but perhaps a blessing. I enjoy music and mostly classic rock and have attended hundreds of concerts. Studied music including piano, drums, and guitar, and wish I'd kept up with any of them.