How long have you been in the mortgage business and what inspired you to get into it?
In April of 1999 I entered the dynamic world of mortgage origination. Time has flown by.
Who is your typical customer and what questions do they typically have?
I have had the opportunity to work with a wide range of clients. From the first time home buyer to those buying their 4th investment property and everyone else in between. I thoroughly enjoy answering questions and educating my clients regarding what options are available to them.
What specific steps do you use to help your customers find the best home loan for them?
Taking the time to ask clarifying questions and understand the needs and circumstances of each individual client.
How long have you been in the mortgage business? What awards have you won?
I've been in the business for 17 years and in that time I've been awarded the 5280 Five Stare Mortgage Professional recognition 5 times.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
The Pro's of an ARM boils down to a lower rate for the fixed time the ARM is for. The Cons of an ARM are, it will adjust and it is geared to go up.
The Pro of a fixed rate is the rate will never change. The Con is the rate is higher than the start rate of an ARM.
When I have a client who is wondering which product is best for them the first thing I do is "run the numbers" and show them the difference in payments between the 2 options. Then I explain, in detail, how the ARM will adjust. Once I know the client understands their options I ask them this: can you sleep at night knowing the ARM will adjust in the set amount of time? If they reply that the ARM fits their goals and objectives then the ARM is for them. If they respond that the uncertainty is 'too much' then I strongly council them to avoid the ARM.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
Having worked for Marriott striving for excellence in customer service has been instilled in me. I once had a transaction that needed a time sensitive document to be signed that day. The only way to 'make it happen' was to drive 4 hours one way to get the signature. That was a time before smartphones and scans and MP3s. It was a long day but the job got done.
What advice would you give new or first time home buyers?
There is no such thing as a dumb question. Make sure you find a lender who is not only willing to take the time to answer your questions but will also take the time to educate you on questions you don't know to ask.
Tell us about a mortgage product that consumers may not be aware of?
MMA is the Metro Mortgage Assistance program. If you qualify it helps you buy a home by providing a Grant to assistance with your down payment.
How has the mortgage industry changed since you started, and what would you expect in the future?
The changes over the past 17 years have been vast. The most important thing to know is the process of documentation that is required. Loans are accepted or denied on what can or can not be documented. Having an experienced loan originator is essential in acquiring a loan. An experienced loan originator will know what questions to ask and by what answers are given, how to structure the loan so when documentation is provided there are no issues in Underwriting.
What can borrowers do to insure a smooth mortgage underwriting process?
Talk with your loan originator before you start shopping for a home. Be honest with your loan originator- he or she is on your side. Any information you withhold will come out during the process and will only augment your perceived problem. If you have an issue your loan officer can help you address it before you find a home and by doing so, help ensure a smooth underwriting process.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
When I'm not working you can find me with my family. We are active in our faith. My wife plays the piano for the young kids and I have taught Sunday School for 9th & 10th graders the past 7 years. This last summer I was able to teach my 15 year old daughter how to do an Eskimo Roll and this summer she wants to tackle some actual white water. We will have to see about that- her dad may be too out of shape to keep up. We are a family of readers, I love history, current events and I confess, true crime. We all love Harry Potter and the rest of the family (wife and 2 daughters) are into Twilight.
Tell us something that makes you unique or something wacky, yet interesting about you?
I worked on a fishing boat in the Bering Sea. Details upon request.