Bridget's Blog

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Mortgages Are About More Than Just The Money

Mortgages Are About More Than Just The Money


Loan officer in Maryland Maryland Mortgage Mama

Every day I talk to folks interested in getting information about purchasing a home or refinancing homes in Maryland.  Many of them are frustrated because they are not getting called back, they have been given misinformation, or they have been treated poorly.  Most of them have questions, some have more than others.  They want to know about the process, the rules, what paperwork is needed, how much they can qualify for, how much they can save each month.  


Many lenders only want to know three things...

Do you have a job?

Do you have good credit?

Do you have assets?

This information is very important for qualification purposes, but not necessarily about determining the RIGHT loan.  For me, I do my best to look at the whole person, their goals, their plans, their family, their life.  Since this is the way I do business, because I care, I learn a lot about my clients and many truly become friends. 


When talking to a couple adamant on getting a 10 year loan, I learn that they are living almost paycheck to paycheck, robbing Peter to pay Paul.  They are not struggling to pay their bills because they are shop-a-holics, or because they are irresponsible.  They are struggling because they have 2 children in private high schools and 2 more in college, all paid out of pocket, no loans.   Once the kids are out of school, this couple will feel like billionaires!  We were able to help them to structure their loan so that they have breathing room now and can chunk down on the payments later, when the expenses are less and even pay off their mortgage in less than 10 years if they choose.

I talked to a woman who has an FHA mortgage over 5.5%.  Although we can help  her to lower her interest rate on her mortgage, it was the rest of her credit that we talked more about.  She and her husband have tremendous debt.  They have maxed out almost all of their credit cards (a lot of credit cards!), most of the credit cards are at an interest rate that is 20% or higher.  I am working with them on a budget to help them to stop their out of control spending.  The mortgage rate is the very least of their problems, they need to STOP spending!

I help people going through a separation or divorce to understand their options with regard to the house.

I help people who are thinking about relocating from another neighborhood, another state, another country.

I listen to the stories.  Some are happy, some are not.

I share the lives of many with whom I work...marriages, divorces, aging parents, lay offs, promotions and job changes (I have been known to forward resumes!), illness, the cancer diagnosis and the subsequent treatment, the death of a spouse, a child or a family pet, military deployments and PTSD, births and birthdays...LIFE! 

I work with folks to find:

the solution to their problem,

the referral to the right resource,

the answer to their question. 

WHY DO I CARE ABOUT YOUR LIFE?  

Because mortgages aren't just about the money!

 

Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  SWBC Mortgage.   410-960-2061 EHO   bridget.mcgee@swbc.com or www.marylandmortgagemama.com

 

If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure! 

If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest.  Please contact me at 410-960-2061.

Comment balloon 23 commentsBridget "Mortgage Mama" McGee • January 16 2013 08:40PM

Comments

Well said Bridget [suggested] and this is why I recommend you. When asked why should I contact the Maryland Mortgage Mama, I'll just foward your blog post

Posted by Andrea Bedard, M.A.; REALTOR® Silver Spring, MD and beyond (Thompson Company, REALTORS®) over 7 years ago

Hi Bridget, as I was commenting on Margaret Romes blog that I agreed with your comment, you were over commenting about my cow photo.  Thanks! 

Bridget, if you worked in Colorado, I'd recommend my buyer prospects to you.  This blog shows that you truly care about people and that there is more to consider when getting a mortgage than simply the interest rate. 

Posted by Sondra Meyer:, See It. Experience It. Live It. (Star View Real Estate ) over 7 years ago

Bridget:  This post proves that we Lenders CAN have hearts ... and for that I am very greatful.  It also proves one big thing too .. that you are marketing yourself perfectly.  Mortgage MAMA ...  who better than a mama to care for someone deeply and be expected to do right by them???  Kudos to you ...

Gene

Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) over 7 years ago

Bridgette-  I am a loan officer in San Antonio, Texas.  Gene Mundt asked me to stop by and read your post because him and I share the same values when it comes to our clients.  In reading yours, I see you truly have a heart and deeply care about your clients.  You take the time to LISTEN and see what the clients needs are and from there you give them good advice that can direct them down the right path.  This extra care and guidance will go a long way with your clients.  As you know by now the referrals will come when you take extra special attention to your clients.  Congratulations and keep up the great work!

Posted by Stephanie Stringer, Mortgage Loan Originator (First Choice Loan Services NMLS#210764) over 7 years ago

You're good people (as my grandaddy would say) because you're trying to find solutions, not just make a commission/sale.  If you were licensed in TN, I would definitely send my clients to you.  Sending you more good vibes for the new year!

Posted by Rhonda Burgess, Moving to Nashville TN Real Estate Specialist (Southern Living Realty Partners) over 7 years ago

Bridget

You clearly care a great deal about doing the right thing for clients and not just signing them for any loan that could work. No doubt your clients appreciate this approach even if it means not getting a loan right away or having to make changes in their spending or other practices. It will come back to you in many ways, including referrals.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California) over 7 years ago

Andrea, Thank you!  You and I are cut from the same cloth!  We care about the Whole person, not just the sale!

Sondra,  Thanks so much for commenting, I am glad to know you!

Gene, In reading many of your writing, I am proud to share this industry with you and those you mentioned in your post.  If we forget to care, we are lost!

Stephanie, Thanks so much!  I appreciate Gene's referral and look forward to learning about you as well.  I have been blessed with many wonderful clients who allow me to share in their lives. Buying a home is a BIG deal, I do my best to make sure they have all the information they need to make a good decision, as I am sure you do as well  We can't always be right, but we can always do our best, given the info we have and continually strive to learn and grow in our profession. 

Posted by Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (SWBC Mortgage 410-960-2061) over 7 years ago

Bridget:  I could not agree with you more.  Treating clients by caring about their entire financial picture is important - and it makes a difference!  Thank you for showing, as Gene said, that many of us lenders do have a heart!

Posted by Linda Piper (Planatek Financial, Inc.) over 7 years ago

Bridget ~ YOU are definetly someone I'd refer clients to if you were in Dallas :) I used to work with Stephanie when she was here ... I LOVED how she really looked after "our" clients!

Posted by Samantha Smith, Sam I Am Houses, Simply Texas Real Estate (214.422.0729 www.SamIAmHouses.com) over 7 years ago

B. find you a loan officer with many years of experience then you will notice the difference in instant gratification you get with lesser experienced LO's, just saying...

Posted by Ron Aguilar, Mortgage & Real Estate Advisor since 1995 (Continental Mortgage) over 7 years ago

Very good post about what you do. I'm sure that it hurts when either you can't help someone, or they refuse to listen to the advice you give and their situation gets worse. Especially if children are involved!

Posted by Travis "the SOLD man" Parker; Associate Broker, email: Travis@theSOLDman.me / cell: 334-494-7846 (iXL Real Estate-Wiregrasss\) over 7 years ago

Glad to know that there is someone willing to put more than a few questions about buyer's finances into their interviews.  Those of us in the Chicagoland area may not have a Mortgage Mama but we have a "Mortgage Papa" that tells it like it is to potential homebuyers - that is why I send my buyers to Gene Mundt!  Like you, he trys to get the big picture and by consulting with the buyers he can give them the advise they need to get their finances in order, get through the home buying process without getting denied before closing because they decided they wanted a new car to go with the new house.

Professionals like you and Gene are the excedption  in the mortgage industry.  Great post!

Posted by Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients! (Heart Realty Group, Inc..) over 7 years ago

Excellent, Bridget!  You are doing what professional Loan Officers should do - reviewing their entire financial picture and advising how to improve overall.  It's not just about lowering the mortgage rate or payment, we see the many other 'red flags' and helping the client understand them will improve their overall financial health - which also reduces stress levels.  If you ever come to Cali, look us up!  You'd fit right in :)

Jana

Posted by Jana Holmstrup (Jana Holmstrup - CCO - Kings Mortgage Services, Inc.) over 7 years ago

Bridget - You are far more than a loan officer. You are a caring person. The world could use more just like you!

I'm glad I found you - I'm subscribing!

Posted by Marte Cliff, Your real estate writer (Marte Cliff Copywriting) over 7 years ago

Brenda,  I agree with Samantha Smith!  I would refer to you, if you were in Dallas. I have similar feelings about selling homes.  Working with clients to buy a home or sell a home is often about problem solving and helping them with a significant change in their lives.

Posted by Sharon Parisi, Dallas Homes (United Real Estate Dallas ) over 7 years ago

Rhonda, You make me want to get licensed in Tennessee! 

Jeff,  I see myself as an advisor, not a sales person.  I am blessed to not need the next "sale" to eat or pay my mortgage, so if getting a borrower into the RIGHT loan takes some time, so be it. Thanks!

Linda,  I think there are lots of good lenders out there, unfortunately some bad apples....as they say!  This is why I am grateful for each and every referral, they are affirmations that I am doing right by people!

Samantha,  I hope you were able to find a lender who treats your clients as their clients!  I always look at my realtor referrals as "Our" clients, we are both working to get the client to their best end at the best time!

Ron, No two loans are alike these days. I have seen a lot over the 11 years I have been in this business, I have a manager (my brother) and our Senior processor (my sister) that have 16+ and 20+ years respectively, I can't imagine just starting out in this business today. It's not just instant gratification, often it really comes down to knowledge!

Travis, so true!  I had a client tell me that his "10 year older self" will worry about the mistake his "now self" is making.  That kind of thinking hurts my heart!

Evelyn,  You are ABSOLUTELY blessed to have Gene on your team. It's a tough business, taking care of our clients is the only way to sleep well at night!

Posted by Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (SWBC Mortgage 410-960-2061) over 7 years ago

Jana,  Thanks!  My whole family is on the East coast, so I don't see myself making the trek to Cali, but I will be sure to look you up the next time I visit!!  Sometimes MY stress level increases when trying to help folks that don't get it, but in the end, I know it will work out in the end!

Marte,  Thanks for subscribing!  That is a huge honor, I hope to educate and share philosophy and write posts that are worth your time!

Sharlene, oops, I mean Sharon, (just kidding, I am Bridget), Our jobs are more and more about thinking outside of the box to help people to fit in one!  Kudos to you for "getting it!"  You will go far!

 

Posted by Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (SWBC Mortgage 410-960-2061) over 7 years ago

Bridget - What a phenomenal way to run your business.  You get to help people, and I'm sure even those who don't get loans either come back later and/or refer.

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) over 7 years ago

Get them a seamless FHA refi to lower their interest rate and increase their cash flow to pay down their debt service and change their outlook about spending money on unnecessary items or services.

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) over 7 years ago

Hi Bridget, great post.  Hello to Dundalk!  We spent 28 years in Linthicum.

Posted by Bob Miller, The Ocala Dream Team (Keller Williams Cornerstone Realty) over 7 years ago

Listening to people is alot better then just telling then what they need.

Posted by Steve Warrene, Pittsburgh Real Estate Investment Specialists (Your Town Realty) over 7 years ago

As a loan officer, you take on many careers-- a teacher, a financial advisor, a banker, a counselor, an attorney, a credit expert, and a judge (making the call as to whether they qualify for a mortgage, right?)  Great post "Mortgage MaMa". 

Posted by Karen Deis, When In-house training is not enough! (ApartmentToolKit.com) over 7 years ago

Nicely well put Bridget. Great to add human nature to the equation. I wish you were in my market.

In a way, realtors have a similar all-around aspect to it as well. Many times we are involved right into people's lives...

Posted by Richard Bazinet /MBA, CRS, ABR, Phoenix Scottsdale. Sellers, Buyers & Relocations (West USA Realty) over 7 years ago

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