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Lending Across the Line ...
State Lines, that is
One of the primary advantages of the mortgage division of the bank I work for, The Federal Savings Bank, is the "virtual" ability to lend in all 50 states, with the federal charter to do so.
While the word "Bank" in the company business name infers "brick and mortar" facilities, the reality is that it can happen in "virtually" every state.
 And while I agree in most cases that having a mortgage lender local to the region of the property, because that typically means that there is a level of familiarity and expertise provided by the local expert ... I'm finding in some cases ... and a growing number of cases ... that technologies and circumstances are intervening in the traditional mode of thinking. Now again, before I get a huge reaction against my assertion and thoughts here ... I agree with the idea that typically ... in MOST cases and transactions ... local continues to serve the best interest of most buyers and the other real estate professionals within a transaction. There is typically a relationship ... and a comfort level there.
But that said, I'm here to say that by utilizing the proper tools (social media, technology, title companies, appraisers, attorneys, realtors) and affiliated vendors ... I CAN perform as well and to the standards of that local "brick and mortar" broker, local mortgage lender, local banker, or local big bank ... even without having a face-to-face meeting with my borrowers. I've done it.
I'm finding that in a growing number of instances, I am not meeting face-to-face, live, in-person with my clients during their transactions. There are an increasing amount of times that I do not meet them personally, face-to-face, until the day of Closing. And even those occasions are dwindling because of scheduling preferences and clients' time demands. How my mortgage transactions are conducted has most certainly changed over the many years I've been in business.
In addition, the national title providers, the national appraisal firms, and their management companies are now in place and entrenched in our modern transactions (like it or not). But their "nationality" does afford some benefit.
It's my opinion, but the "bottom line" regarding the utility of any mortgage lender should always be this ...
"Can that mortgage lender successfully get you to the Finish Line"?
That's how we all should be judged. It's all about results. Success Rate. Completion. Service to the client .. and the timeliness in which all those things are accomplished.
Because of the speed of technology and the ease, convenience, and depth of knowledge you can acquire through its usage ... local customs, "need to know" information, rules/regulations, items, processes ... can all be easily acquired and followed efficiently. Technology, in these instances in particular, are a blessing to our industry.
Think about it. When was the last transaction you were involved in that did NOT utilize our modern technology? Skype, internet, faxes, scanning, wiring, telephones, texting, emails ... which don't you use in a typical transaction?
All common tools that have become much like appendages. Always there and not given a 2nd thought. Especially true for the youngest generation of home buyers ... a generation that seems to prefer technology over the old-fashioned face-to-face.
This was something that I initially found hard to accept and embrace. But accept it and embrace it, I have. I find I am personally relying more and more on relationships fostered and nurtured through social media means, whether they be clients or referral partners.
Now it is purely the personal preferences of my clients that dictate how we move forward and conduct our business together. But be sure ... our relationship still establishes, grows. Trust still builds.
Again, I acknowledge and understand that many still, both client and agent, will not find this a correct fit for them at this time. But for those that are comfortable doing so, have unique circumstances, or are in need of a more "niche" mortgage product or program, my services through The Federal Savings Bank may be just what you should seek-out. What you may need and find a very good fit.
Don't let your "state" of mind limit you ... or a client. Sometimes "thinking out of the box" ... stretching the boundaries ... is exactly what needs to be explored and utilized.
In those cases, please ... don't hesitate to contact me. I'd love the opportunity to assist you.
* Are you comfortable "thinking out of the box"? Utilizing the modern wonders of technology? Then Contact Me! I'll put my 35 years of experience and expertise utilizing tools of technology to work on your behalf.
I can be contacted through any of the following:
Direct: 815.277.4036
Cell/Text: 708.921.6331
Website: www.genemundt.com
Conveniently Thru Skype: 630.219.1316
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