California Mortgage Banking at Its Best - Robert Eckmann
If you are a homebuyer or investor who intends to finance the purchase of your next home or investment property, one of the most important players who could make or break your transaction is your choice in of a mortgage banker or mortgage broker.
In the unpredictable journey to financing your property purchase, a mortgage banker is responsible for understanding your financial situation and outlining all available loan options that could serve your needs. Your mortgage banker is also responsible for helping you successfully navigate the journey from loan application to documents production to loan processing to responding to all underwriting objections and conditions to closing the loan. Your mortgage banker must work closely with all players in the real estate transaction such as your Realtor, the loan processor, the underwriter, the closer and the escrow officer.
A truly effective mortgage banker ensures that the loan pre-approval letter will withstand and survive all underwriting conditions. For instance, a hard working single mother attempts to purchase her first home after 10 years of divorce. She has worked hard over the last 10 years to build a new career and steady income and save up the minimum down-payment for an FHA loan (3.5% of the purchase price). She submits a loan application and offers up her last 2 years tax return, paystubs, and child support payments. In exchange, she received a loan pre-approval letter from a mortgage bank and embarks on shopping for homes. Given her not-so-competitive purchasing power (FHA loan with 3.5% down-payment) and her desire for a single family home with at least 3 bedrooms for under $250K in pricier market, she has to make over 50 offers over 8 months before her offer is finally accepted for a 3 bedroom single family home. Upon opening escrow, the loan proceeds to processing and underwriting. The underwriter combs through the divorce decree with a fine tooth comb and decides that this buyer may not qualify if she cannot obtain a letter from her hostile and uncooperative ex-husband releasing her of certain obligations unrelated to the child-support award. It seems absolutely unfair that this buyer’s ability to consummate this transaction and purchase her first home (after 10 years and 8 months) will now depend on the cooperation of a hostile and uncooperative ex-husband despite her receiving a loan pre-approval letter from the same mortgage bank prior to embarking on the 8 month journey of hunting for a home.
Above scenario is only one of many unfortunate scenarios that highlight the importance of having a knowledgeable, thorough and effective mortgage banker working for you. 
Robert Eckmann is one such knowledgeable, thorough and effective California mortgage banker. Prior to becoming a mortgage banker and broker, Robert Eckmann was a CPA for Ernst & Young and a finance executive for Sony Pictures and Lion Gate Films. Robert Eckmann’s approach to mortgage banking is consultative – he spends the necessary amount of time to fully understand buyer’s financial position and offers up all viable loan programs that are customized to your specific needs. Robert Eckmann draws on his sophisticated professional background as a CPA to parse through complex financial documents of high net-worth buyers such as investors and self-employeds. Robert Eckmann also works well with business managers, CPA’s and Realtors of these high net-worth individuals to work within required budgets and accomplish the clients’ financing needs.
Robert Eckmann can be reached at 310-701-7622 and at REckmann@FirstCapitalmtg.com.
If you are interested in selling your home or purchasing a home, contact Bandele Oguntomilade at 818-825-6996. Bandele Oguntomilade is a Certified Residential Specialist and the Broker and Owner of Bogun Realty and Luxury Homes in Woodland Hills, California. You may visit us at http://www.BogunRealtyAndLuxuryHomes.com.
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