Wachovia is the nation’s fourth largest bank with assets in excess of $500 billion. It has the top market share in terms of deposits for banks and has more than 50 branches in the northeast Florida market.
How long have you been with your company?
Since the summer of 2005.
How long have you been in the industry?
15 years.
How long has your company been in the area?
More than 20 years.
How long has your company been in business?
More than 100 years
How many lending agents do you have?
Five that report to me.
How many lending agents does your company have in Jacksonville?
25 in this market.
Are there enough qualified lending agents to go around?
Yes
What qualifies an agent?
Someone with a working knowledge of the mortgage lending industry that can interact with borrowers in a professional and thoughtful manner.
What is the best way for a Realtor to get to you?
Telephone at 367-5017 or e-mail at [email protected].
What is your best place for networking with Realtors?
The best place for networking is in their office.
What can a Realtor do for the lender, other than prequalify?
Realtors can help set expectations and explain the process so they’re prepared to work with a lender.
What can lenders do for Realtors?
Be responsive and honest.
What makes your company outstanding?
Wachovia provides the broadest network of banking and financial options that can serve a client’s every need. It represents the future of financial services under one sign.
What is the biggest challenge that comes with being a lender?
To be able to serve every type of client.
What challenges do apartment conversions bring?
A huge influx of investors and getting a project approved for conventional financing.
What is the trend: bigger or smaller mortgages?
No question, bigger!
Has Internet lending had much effect on the industry?
It’s helped create a more knowledgeable borrower.
What should lenders do to assure buyers of the dangers of doing business via the Internet?
When doing a refinance, the dangers are more limited since the borrower can opt to cancel if the end result is different than what was expected. For purchase transactions one needs to guard against unscrupulous companies that may try to impose different terms at the last minute and have no recourse for the building or person they can’t go see.