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Marcos Rincon

VP of Mortgage Lending
15851 N. Dallas Pkwy, Suite 205, Addison, TX 75001
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NMLS: 829883
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About Marcos

As a Home Loan Consultant, Rincon specializes in helping potential home buyers to qualify for a mortgage loan, including improving credit, accessing down payment assistance programs and providing an overall approach to helping the home buyer to understand the home buying process, as well as, to prepare for it. Whether you have been denied in the past, I can help you to understand what it will take to qualify for a mortgage loan.

Rincon distinguished himself as· an innovator in the housing arena as the former Executive Director of the US Community Development Corporation and the LULAC National Housing Commission by creating a new business model for the housing program by developing a nonprofit mortgage broker program. He has successfully combined his 30 years of business and non-profit experience resulting in greater efficiency of operations and better services to the home buyer.

Rincon owned and operated Rincon Communications, a public relations and promotions agency, for 15 years. The agency specialized in sales promotions, special events, media relations and marketing strategies to reach the Hispanic market.

As a Consultant and subsequently the National Director of the US Hispanic Chamber of Commerce, Rincon was responsible for the creation and development of the nation's largest Hispanic business association.

A native of Dallas, Texas, Rincon received Bachelor's and Master's degrees from Southern Methodist University in Dallas. He was a Redmon Scholar and received SMU's M Award, the university, highest honor for community service. He has been married for the past 33 years to Elizabeth. He has 5 children: Monica, Mark, Felili, Melisa and Maria.

Marcos Rincon is a management executive with 35 years experience in operations, marketing, strategic planning, special events, promotions and public relations in the private and non-profit sectors. An analytical manager with hands-on operations and management experience resulting in increased profitability. Proven leadership in sales, project management, customer relations.

Marcos interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
5 years. I come from the non profit world helping people to qualify and found that most lenders do not help clients or show them the path to home ownership. By originating loans, I have a direct control from inception to closing. This way, I can help many more achieve their dream of home ownership.
Who is your typical customer and what questions do they typically have?
Customers want the truth and someone they can trust. They want to know the basics of the process and how they can qualify. I provide that!
What specific steps do you use to help your customers find the best home loan for them?
I make sure that they have a good real estate agent and I talk to the agent to make sure we are on the same page with the client.
How long have you been in the mortgage business? What awards have you won?
I started in 2013. Selected 5 star mortgage professional this year.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Most of my clients do not want arms due to the unknown. They want a fixed rate and trust that the payment will not change. Arms are beneficial for short term homeowners that plan to sell or refinance within 5 years.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
My first challenging customer had been denied by 5 lenders. The issues included business losses, student loan debt, low credit score and high DTI. I was able to improve credit score by paying down credit cards and consolidate student loans for a lower monthly payment, filed current tax returns showing no losses. These actions lowered DTI and qualified for an FHA loan. The bought a 3500 sq.Ft newly constructed house.
What advice would you give new or first time home buyers?
Be prepared. Learn as much as possible. Attend first time home buyer classes. Work on your credit and save money.
Tell us about a mortgage product that consumers may not be aware of?
1% down loan programs.
How has the mortgage industry changed since you started, and what would you expect in the future?
I started after the mortgage industry collapse. So the past is unfamiliar to me. The mortgage business has remained very good in Texas.
What part of the home loan process do customers find most difficult and how do you help them through it?
They are terrified of qualifying. I help them understand the process in simple terms.
What are the top 3 misconceptions people have about the home loan process?
1. I cannot afford a house. 2. I cannot qualify 3. My credit is too bad and can never qualify.
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
Take a home buyer training class in person or online.
What can borrowers do to insure a smooth mortgage underwriting process?
Be prepared to respond to all questions and requests for documents.
What provides you with the most satisfaction in your job as a Loan Officer?
Closing especially those families with major obstacles to overcome. Many are single mothers.
Tell us something that makes you unique or something wacky, yet interesting about you?
I have the ability to find the right solution for each customer. Building trust is easy for me whether in person or on the phone. I understand people from different cultures and languages.

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