Let me tell you why Andre Hemmersbach is such a valuable resource for you regardless of whether you are a Realtor looking for a lender to pre-qualify your buyer or a consumer looking for a mortgage. First, I'll give you a little education about the secrets of the mortgage business so you will see exactly why.
Prior to my present career as a South Bay Realtor I was a career mortgage professional with big banks myself for 20 years. I understand how technically and mathematically demanding the work a loan officer/mortgage broker must do for you is. I met Andre when he was referred to one of my buyer clients by the real estate agent who was representing the seller of a home.
The dirty little secret consumers don't know is that it's not the mortgage company or bank name that's important to the success of your mortgage destiny but rather the it's the level of technical knowledge and people management skills of the loan officer that counts. Out of ignorance consumers think only about interest rates. They don't realize that almost all rates now are tied to the Fannie Mae rates. Finding the best rate is not too hard. Even the worst loan officer can do that. The rates don't vary that much from lender to lender anyway. It's the loan officer's skill that is the most important thing you should shop for if you knew how since the level of skill among different loan officers varies enormously.
The biggest problem you're going to have when applying for a mortgage is that many loan officers bungle the loan application, create time delays, miss opportunities to lock interest rates at the optimal time and can't effectively manage the team of processors, underwriters and funders all of whom highly impact the success or failure of your mortgage loan application process. Often the biggest name banks hire the least experienced and lowest paid loan officers. Many of the most experienced ones branch off to become mortgage brokers and mortgage bankers and they are more highly paid for their greater skill.
The most critical factor to the success of your mortgage application process is the loan officer's skill at analyzing what you bring to the table at the time you first apply. Here's why. The loan officer doesn't actually approve or deny your loan application. It's the underwriter that does that. Loan officers are like attorneys representing you to a judge. They're on your side. The underwriter is like a judge and is your adversary. Unfortunately the underwriter won't see your loan application for a month or so after you apply.
If the loan officer wasn't accurate in analyzing your qualifications by the US Federal rule book up front, or worse yet didn't analyze anything and chose to let the underwriter do that, then your could waste a full month. You then find out to your horror that you weren't qualified based on a technical federal rule that your loan officer didn't even know about but you can be sure the highly paid underwriter will. If you're buying a home, the deal is now dead! If you're refinancing, the interest rates may have skyrocketed out of reach and you weren't at all qualified anyway! Mind you that in all cases you must spend hundreds of dollars on appraisals and home inspections before the underwriter sees your loan application. You're risking all on the technical competence of the loan officer.
Here's where Andre shines above almost all other loan officers. After meeting Andre and after he had done such a good job for my buyer client, he told me that he had been a wholesale representative for North American Mortgage, long before he became a retail loan officer. As a former loan officer myself, I was very impressed since at the time North American Mortgage was one of the largest and most respected wholesale mortgage bankers in the nation.
Here's the key: When retail loan officers (the loan officers that deal with the public like you) want to get clarification on the most technical mortgage rules, they call the wholesale representative who is the Obi-Wan Kenobi of mortgage knowledge. As a long-time mortgage wholesaler, therefore Andre really knows it all. He is much more competent than any other loan officer your are likely to find because of his years of technical advisory capacity at North American Mortgage.
In addition, Andre understands the importance of cracking the whip on the team of clerical professionals who may otherwise make errors or cause delays in the long sequence of events that must happen before your loan finally funds. His main strengths are accuracy, speed, dependability and consistently getting the best interest rates. I have watched him excel in each of these categories over and over with my real estate clients. I can assure that you will be in highly competent hands with Andre Hemmersbach. read more
