Which Company Is Right For Me?

In 2015 I found myself feeling very strange about needing to find another mortgage company to work for. I had been in the mortgage industry for 21 years and the first 14 years had been with two mortgage companies. Since 2008 I had been with four companies and was looking for my fifth company to join. 

Could the previous four companies have all misled me? Not possible. Too many good people working at these companies to have that happen. I had to look at myself and realize that I had failed to identify what was important to me and what was needed for my business model to achieve long term success.

I spoke with multiple companies from across the country, as there are a lot to choose from. What I learned was that not every company can be the right company for every loan officer…even though a few companies can make you feel that way. They gave their best pitch to me, some of them were close, but for one reason or another, they could not show me how what they were saying translated into what they would deliver. 

So, I created a list of “Must Haves” for myself. A road map of what it would take to me to make a move. Below are some of the “Must Haves” I jotted down:

1. MUST provide mortgage loans for consumers with credit scores less than 620
2. MUST manually underwrite government loans with minimal to no overlays. 
3. MUST close loans within 30 days. Borrowers should not be punished for 45+ days just because their credit is less than perfect. 
4. MUST provide competitive pricing with multiple program options to choose from for all consumers

Pacific Union not only told me what they could do, they showed me. To add to that, they shared their business model with me, I knew I had found a partner!

Not only did Pacific Union do the types of loan I wanted to do, they wanted to do more of them. The philosophy at Pacific Union is to underwrite quality loans as close to guidelines as possible. Simple. 

Along with that philosophy, they had a support network already in place. Not one that was being built or would be built. It was already in place and operational. 

Lastly, the leadership team’s vision for the Retail Channel was to grow the Retail Channel so that the channel would become an essential part of the three-channel company. To do this, the Retail Channel employees had to be provided an above par compensation plan for their efforts. Plus, it should include a benefits package that included health/dental care and a 401k plan with company paid contributions.  Lastly, it had to provide most current marketing and technology tools to support the retail sales staff. 

There is always an apprehension at these moments of our lives, but by doing the following steps:

1.  Make your “Must Haves” list
2.  Write down questions before your scheduled appointment
3. Verify the information that is being told to you
4. Listen to what people don’t say

I feel anyone can make the right choice for themselves. I know I made the right choice for myself in 2015.