I have moved to MyCityLender

Why I moved to MyCityLender:

Wow it has been almost a year and you probably wondered what happened since my last blog post? Yes, I am still around…

The most exiting thing was (and still is) my move to MyCityLender last August. That was just after licensing for loan officers went into effect July 1st 2010 but before the changes how loan officers are compensated for a home purchase or refinance transaction.

These are turbulent times in the mortgage and real estate arena therefore it is very important to have a partner who is willing and capable  to adapt in this challenging lending environment and economic climate. Ten years ago when I first started with Lund Mortgage, the mortgage-industry was very different, and even more so when I changed gears, REALTOR® to Loan Originator, with Sunstreet Mortgage in 2010.
The average consumer most likely does not understand that small lenders are facing a lot of hurdles to stay in business. One example is that HUD eliminated the independent approval for Mortgage Brokerages (Non-Supervised Loan Correspondents).  In doing so, they also changed the minimum net-worth requirement for Non-Supervised Mortgagees (Mortgage Lenders) from $250,000.00 to $1,000,000.00+. As a result, small lenders, small brokerages, and stand-alone mortgage brokers are disappearing.  With that, opportunities for personal customer service keep also disappearing. I don’t know about you – but I really prefer to experience and provide internal and external customer service versus being just another number in line…

With MyCityLender I found a new home where I am enabled to provide my clients with great personalized service. MyCityLender.com  is a small company (about 20 employees) however MyCityLender is a Full Eagle Mortgage Lender, which means that we process and underwrite loans in-house with full HUD approval status.

Fast forward to today:

There is more exiting news to come… but I just wanted to make sure that you all know that I am still around originating mortgage loans!