Perspectives – Origination

Written By: Theresa Furzland, Op-Ed Writer

This week I’m looking through my originator eyes. I tend to think of myself more as a Mortgage Loan Advisor than a Loan Officer. As I have already mentioned, probably more than once, I never set out to be a loan originator and I am the first to admit that I am not a “salesman”. I do love this part of the process however and for one reason. The people that I get to work with. The same trait that makes me a good loan advisor would make me a terrible underwriter, because I want to give everyone the home loan of their dreams!

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This is also one of the main reasons I have continued as an originator in what can only be described as a hostile environment over the last few years. I remember shaking my head in exasperation back in 2004-2005 while I watched young applicants of mine go down the road to my competitors for a loan they obviously could not realistically afford, and have since refused to read the foreclosure listings because I don’t want to recognize those names.

Today we are facing a whole new set of challenges. With the NMLS licensing behind us for now, we get to concern ourselves with the new compensation laws and try to speculate on how that is going to affect our customers. The regulation and program changes are just a part of our standard operating procedure of the only constant is change, so as an originator these changes don’t worry me too much. We’ve adjusted and re educated our customers before, we’ll just do it again. And again I’m sure.

Which again brings me back to why I continue to originate loans and sometimes spend two years working with a potential buyer before we get them in that first house. It is also the reason I won’t hesitate to tell a refinance client that they aren’t saving enough to justify a refinance. Long before the Net Tangible Benefits worksheet became a part of our lives, I was counseling clients to calculate their “break even” point.

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It is because our customers need us. Wading through the loan programs that are available and translating those choices along with the required disclosures to the customers is why we are here. It is not about “making the bottom line”. It is about educating our clients about the best options available, and teaching them how to make the decisions that will benefit them.

About The Author

Theresa Furzland - As an op-ed writer, Theresa Furzland has 25+ years of experience ranging from origination, processing, closing and post closing. She is currently a producing Branch Manager for LendSmart Mortgage, LLC and own and operate Willow Wood Mortgage Services, Inc. 


Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.