I was 18 when the Great Recession happened. I remember I was working as a cashier at a grocery store in East Texas. A few years later, I would go to college, thanks to the Pell Grant, and study Economics and Political Science to understand better what had happened.
After working briefly for one of the Big Banks, I left to create my own company, Mortgage On A Mission, where I can offer the best advice to my clients. I believe that success is shared, and that doing the most good means sharing success with others, because so many people helped me and took the time to make a difference.
Mortgage On A Mission is a mortgage broker, one of thousands of companies nationwide who connect borrowers to lenders. Unlike retail banks, I have access to a variety of lenders, each with slightly different loan types and offers for you. Whether you’re looking for excellent customer service, or needing help finding a specialty loan, a broker works with you start to finish, saving time and money. Lenders may prioritize their profit and neglect to advise you about the finer details of your loan. As your advisor, it is my duty to guide you through the process, from the loan application, qualifying for the loan, selecting the right lender, choosing your rate, and preparing for the closing date.
Success is Shared
When I was a banker, a customer asked me, “Should I take out this loan?” I had to decide in that moment whether I would give good advice, and help her decide what was right for her situation, even if it wasn’t best for me or the bank.
I went on to open my business, Mortgage On A Mission, to help other Texas families needing the best advice for their home loan. I believe that success is shared, and it’s built by a community that helps each other. These are three of my favorite books that have helped me over the years. If you haven’t read these, let me know. I’ll send you a copy.
Favorite Books for 2021
Financing the American Dream
Countrywide lent $1.5 Trillion for home loans, between 2002 and 2005, and created extraordinary profitability for their owners. But the profit was created from loans they knew to be fraudulent.
Countrywide loan officers made higher commission when they charged higher rates and fees than home buyers qualified for. Between 2004 and 2008, the company earned profits and paid their employees for conduct that was unlawful under the Fair Housing Act.
Eyes Wide Open
Countrywide was aware that its loans were low-quality, even as they promised otherwise. Their awareness of their fraud resulted in financial losses of almost $1 billion to the US housing market.
Consumer Protection Needed
Problems of ethics and integrity continue to persist in the mortgage industry. In December 2020, a mortgage lender agreed to pay nearly $90 million to assist 115,000 home owners it was accused of harming, some of whom lost their home to foreclosure.