Locally owned and founded, A1A Mortgage helps customers finance their real estate dreams professionally and timely. Whether it is a first time buyer, a customer purchasing an investment or vacation property, or a large commercial or jumbo mortgage, A1A Mortgage has experienced brokers and loan programs so the process is expedited quickly and with little stress. The company claims that its number one goal is making sure the closing takes place on time.
How long have you been with your company?
Since the beginning.
How long has your company been in the area?
A1A Mortgage opened its office in Jacksonville Beach, December 2002.
How long has your company been in the business?
I have been in the financial services industry for 37 years.
How many lending agents do you have?
A1A Mortgage has nine loan officers and an in house processor.
Are there enough qualified lending agents to go around?
There are over 55,000 licensed mortgage brokers in Florida. Many of these are either part time or inactive. At A1A Mortgage, we employ only full-time licensed mortgage brokers. In an industry that is as challenging and dynamic as the real estate industry, only the individual that is willing to devote their full time efforts, making themselves available to customers and trading partners, are able to provide the service we feel our customers deserve.
What qualifies an agent?
First, all of the loan officers at A1A Mortgage have to have the minimum competency as required by the state of Florida. That is, they must pass the State mortgage broker exam and must keep current by earning a minimum of 14 hour CEUs every two years. In addition, a qualified agent will meet regularly with lender representatives to keep abreast of new loan programs and guidelines. Finally, at A1A, we have implemented a team approach where loan officers learn from each others expertise.
What is the best way for a Realtor to get to you?
Each Realtor has their own preferred way of communicating. To accommodate these preferences, A1A has implemented user friendly voice and electronic systems. The major goal of our loan officers is to make themselves available to realtors 24/7. We are available to provide a prequalification or even take a full application on nights and weekends.
What is the best place for networking with Realtors?
Quite simply we will go where the Realtor needs us to go. On a regular basis we regularly participate in Chamber of Commerce events, NEFAR, business networks, etc. In some cases, our brokers provide one-on-one training to Realtors and training to Realtor groups.
What can a Realtor do for the lender, other than prequalify?
All of us who assist customers need to be aware that the number one obstacle to outstanding service is communication and timeliness. To that end, being able to get a complete purchase and sale agreement as soon as possible helps us to prepare timely applications and accurate good faith estimates. As the process goes on, there are numerous points that the Realtor and loan officer need to be in touch with each other about. I read once that close to 45 people touch the purchase/loan process. That creates a lot of room for communications breakdown. We want our common goal with the Realtor to be that all individuals who are part of the process do what is necessary so that the closing takes place on time.
What can lenders do for Realtors?
Keep them informed of the loan without breaking the privacy of the borrower. Provide simple and summarized information on loan programs. Realtors want to be informed enough to discuss available loan programs with their clients, but do not have the time to know and understand all the details that their mortgage professional does. Give them whatever tools can help them. A1A provides a free financial real estate handbook which provides basic rates, payments and information to Realtors.
What makes your company outstanding?
A1A Mortgage is lead by someone who has over 37 years in industry. This, combined with nine qualified brokers, means that the Realtor and our customers get smart, experienced advice and service. It also means that we have state-of-the-art technology without sacrificing the one-on-one communication necessary to close on time. At A1A Mortgage, there is always a broker available. Our broker on “floor duty” policy guarantees our Realtors that a broker is always available for them during business hours. When a Realtor recommends a broker, they know that they are working with a company, not just an individual, that will use the resources of the team to serve them. Our approach to giving our brokers company benefits and financial security fosters this team approach.
What is the biggest challenge that comes with being a lender?
Finding individuals that are not only qualified but also have the work ethic and commitment that makes every broker at A1A go above and beyond for the customer.
What challenges do apartment conversions bring?
This is an opportunity to make homeowners out of renters. For the broker to be successful, however, he has to have the programs available and know how to work with first time buyers as well as how to handle what often is not a warrantable condo. Some renters will want to buy the unit they are living in, others will take the opportunity to explore their ability to qualify for a new home. The Realtor needs to make sure they are working with a company like A1A that has the flexibility and depth of loan programs to meet this customers needs.
Has Internet lending had much affect on the industry?
The Internet industry has made our customers more informed. What I see is a large number of people using the Net to check out programs, rates, housing comps, etc. Ultimately when that informed consumer is ready to ask the questions and have their situation evaluated, they will require brokers that excel in one-on-one customer service. This is where A1A excels.
What should lenders do to assure buyers of the dangers of doing business via the Internet?
Lenders buyers of getting placed in wrong loan programs, ones that do not fit their projected life events or style. Also, they need to warn about paying a higher rate especially when low closing costs are advertised. This is especially true here in Florida. A major part of closing costs are state imposed stamps and taxes. You don’t pay those in California but you are going to pay them in Florida whether you call a 1-800 number or see a local mortgage specialist. When doing business via the Internet, you sacrifice the local convenience. A1A will even go to your house to meet, pick up documents or even close the loan. And our office is local. I think one of the least appreciated benefits of dealing with a local mortgage broker such as A1A mortgage is that we are here after the closing. I can’t tell you how many customers feel comfortable to call us up to ask questions, bounce off ideas, referring friends and relatives, etc. What we are doing is building a referral network, of satisfied customers and Realtors. I have already done a number of loans for parents and for their children. It’s my goal that A1A will be doing loans for their grandchildren. We build customers for life.
—from Ray Breault,
president for A1A Mortgage