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Patrick Bishop

VP of Mortgage Lending
99 S Lake Ave, Ste 500, Pasadena, CA 91101
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NMLS: 368491
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About Patrick

I started in the mortgage business in 1989 with World Savings. Up until then, I was working in banking doing small business lending in downtown Los Angeles. It was never very exciting work and I didn't get out of the office very often. So the mortgage business really appealed to my sense of independence and working outside calling on Realtors and referral partners. I owned my own mortgage brokerage for seven years up until 2009, and while it was great to have my own firm it because too expensive to continue with all of the changes to the mortgage business. I have lived in Glendale since 1994 and really like that I am a "stones throw" from Montrose. Montrose is like a step back in time to the 50s and 60s and has really become a favorite local destination for many Angelinos for its restaurants, coffee houses, and locally owned shops. They also have a farmers market much of the year, and every fall brings the Octoberfest. Saturday mornings will usually find me on my road bike doing a group ride of about 60 miles throughout the San Gabriel Valley along the foothills. Or riding around the Rose Bowl on a weekday evening with the peleton at breakneck speed. My wife and I also enjoy spending time with our kids and grandkids on the weekends.

Patrick interview Q&A

Who is your typical customer and what questions do they typically have?
I have worked with a lot of clients who are quite a bit more complex than a typical wage earner. Folks who are in entertainment or own businesses or have multiple sources of income. Others don't really like those kind of loans, but I embrace those loans and am really able to shine by coming through for my clients.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I had an actor that has worked continuously since 1948 and wanted to downsize and buy a new home in a Los Angeles suburb. People in entertainment may have multiple sources of income every year because they are always looking for another project once their current one ends. Fortunately, this actor's business manager kept excellent records and was able to provide me with copies of over 300 individual checks to document income for the prior year because the tax return was still not yet completed. The checks satisfied the underwriter and we were able to close his purchase just after Christmas.
What can borrowers do to insure a smooth mortgage underwriting process?
The loan process today is much different than just a few years ago and lenders need to be sure that they have collected every essential document to ensure that they are making good loans. No shortcuts! So unless a client provides all of the necessary documents as early in the process as possible, they may find the loan process a lot more arduous than they thought it might be. I emphasize to my clients just how important it is to provide me the required documentation just as quickly as possible. In the end, they are happy when the rest of their loan transaction goes smoothly because we did everything up front.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I enjoy spending time with family, getting out on my bicycle, and an occasional game of golf.
Tell us something that makes you unique or something wacky, yet interesting about you?
I have a large collection of fossilized marine specimens, including shark teeth, whale bones and much more. It was something that my dad used to take us out to when me and my brothers were young. It is a lot of backbreaking work to get it out of the ground. Some of the collection has been donated to the Los Angeles Museum of Natural History.

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