Adam R. Cohn

Branch Manager

STANDARD MORTGAGE CO.

Powered by Prime Mortgage Lending NMLS # 69551

433 Plaza Real Suite # 275

Boca Raton, Florida 334321.

1. Interviewee’s background in the field.

Over 10 years of mortgage banking and mortgage brokering experience.

2. Typical day (pertaining to financing).

Interviewing clients, reviewing income documents such as tax returns, business tax returns for self-employed borrowers, paystubs, w2 forms, k1s. We also review credit reports then we issue pre approvals or recommendations which is a list of things someone can do to get financed in the future. The day also consists of ordering home appraisals, reviewing any that come back, verifying information provided on loan application such as employment.

3. Five best tips (pertaining to financing).

Fill out a loan application very accurately
Make sure to supply the bank with legible copy of documents
Make sure to give the bank everything they request
Do not apply for other loans while applying for a mortgage; could affect qualifying, find a loan officer with experience, the process is complex these days and you need someone that really understands the business.
You can go on the NMLS site and review loan officer work histories. Ask your agent for a lender recommendation you want to work with someone that has a proven track record.

4. Two dilemmas and how s/he solved them.

First Dilemma: Client was buying a foreclosure. The closing date was missed due to buyer not getting documentation on time to me. The bank she was buying the home from wanted to cancel the sale and go through with foreclosing on the home. I tried to explain to the bank customer service reps handling the file that it made no sense to do that and to give us a few more days. The bank would lose more money by foreclosing then letting the new buyer purchase the home from them. After getting no where and being transferred around on the phone. I called upper management got the CEO executive assistant on the phone explained the issue and she agreed with me and the deal was saved and we closed it.

Second Dilemma: Buyers credit score dropped while purchasing a home. The score went under the min we require. My team and I worked with the credit company to rescore the buyers score after he paid down some debts. We got the score back up and was able to close.

Loan Officer Interview

Yanisleidy Chavez

Officer | Assistant Store Manager

TD Bank – America’s Most Convenient Bank®

11825 Pines Blvd Pembroke Pines, FL 33026

1. Interviewee’s background in the field-

I have been in banking for 12 years, started as a teller with Washington mutual Bank and since I have worked for a couple of banks eventually landing in TD. I have been working here for 8 years. I started doing loans in 2003, in the beginning it was very uncomfortable having conversations with customers but with experience comes knowledge and now I am very comfortable speaking with customers about mortgages, home equity's and a variety of other loan products.

2. Typical day (pertaining to financing).

I have a variety of other responsibilities outside of lending. In regards to lending I check on the status of my loans daily. I work with a loan processor to gather all the loan documents needed from the customer: paystubs, tax returns, insurance documents ect. The loan processor then submits those documents to the underwriter for review.

3. Five best tips (pertaining to financing).

Be organized
Set the right expectations with the customer
When you don’t know something never say I don’t know, instead say I will find out for you.
Always have the customers best interest in mind
Never make a loan decision for a customer- provide them all the facts and let them decide

4. Two dilemmas and how she solved them.

First Dilemma: Customer was buying a property in FL as her primary residence but she worked out NY as a Rockette—this created a conflict for our underwriting team. We solved it by asking her to provide a letter from her family stating that she could live there for free while she was working. The underwriters wanted to make sure that she would not have to pay rent while working in NY because if she did that money would have to be added to her debt to income ratio.

Second Dilemma: Customer applied for a 15 year mortgage, he did not qualify because the payments made his Debt to Income Ratio too high, instead on declining the loan request we were able to provide him a counter-offer for a 30 YR mortgage. The customer was pleased, and since he can basically double his payments he can still pay the mortgage off in half the time.

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