National City Mortgage has opened its doors in Jacksonville.
Carolyn McMoran, formerly of Countrywide Home Loans, has taken on a new challenge - to introduce the company to Northeast Florida.
As the vice president of the Northeast region, she says she is excited to use her experience to make National City Mortgage a household name.
McMoran, who had 35 years experience in the mortgage industry, joined the company in November 2005.
“We just physically opened up the office March 1, 2006,” said McMoran. “But, we have been originating, processing and closing loans since December 2005. We’ve sort of been the vagabond team. Our loan officers were out originating loans, but we didn’t have a real office until March.”
THE COMPANY
National City Mortgage is a full-service mortgage company including commercial and residential loans. It is a subsidiary of National City Bank of Indiana and has been open since 1955. National City Mortgage Co.’s servicing portfolio is over $165 billion representing over 1.1 million mortgage loans, as of December 31, 2004. The headquarters is in Miamisburg, Ohio, corporate is in Dallas and the state office is in Tampa. The company doesn’t have a banking presence in Florida as of yet, but they have had a mortgage presence in Orlando for six years. “It’s only been for the last year and a half that they’ve really started focusing on moving into Florida with a mortgage presence.”
LOCATIONS?
They opened the Jacksonville location and a St. Augustine location both on March 1. The Jacksonville office is located off of Hodges Boulevard at 13901 Sutton Park Dr. South. The St. Augustine office is located at 2450 Old Moultrie Rd. Suite 201.
IN THE OFFICE?
Nancy Cmar, operations manager; Rebeccah Mercado, senior loan officer; Brenda Briggs, senior loan officer; Angela Davenport, senior loan officer; Justin Raines, loan officer; Derek Mercer, loan officer; Lisa Doherty, loan officer; Kim Gottman, loan officer; Vanessa Walton, loan officer assistant; Chris Dryden, loan officer assistant; Stephanie Carter, loan processor; Caryn Belcher, loan processor; Robin Green, loan processor; Tina Lockname, loan processor and Desiree Bronder, receptionist are in the Jacksonville office and Susan Avon and Brian Becker are senior loan officers in the St. Augustine office. John Golio is the branch manager of both offices and McMoran is the vice president of the Northeast region.
FUTURE PLANS?
“This office is going to be the base. This is the footprint of National City Mortgage. We are going to be the creation of National City’s presence in Northeast Florida. We are actively recruiting. The goal here is to grow this into the heart and then we’ll service all the communities with satellite loan officers. Our goal is to make National City Mortgage as big a presence as I made Countrywide Home Loans.
MCMORAN’S HISTORY?
Before she joined National City Mortgage, she worked for Countrywide Home Loans for 10 years. “They were not well known in 1996, but I did just what I’m doing now. I got out and supported the community and was active in it. We want everyone here to be part of the Northeast Florida Builder’s Association and its Sales and Marketing Council, Northeast Florida Association of Realtors and community activities. We want to be part of the community.” McMoran brought her team from Countrywide to help her with her new endeavor.
ARE THERE ENOUGH QUALIFIED LOAN OFFICERS TO GO AROUND?
“There are plenty of qualified loan officers; there are very few great loan officers. Loan officers need to be trained and need to understand they impact people’s lives. They can’t be given a 90 day draw, handed a manual, a laptop and told to go out and originate loans. It doesn’t work that way. These are people’s lives and Realtors’ paychecks they are messing with. If the deal doesn’t go through or the experience isn’t a good one, you’ve damaged all of us and our reputation. This is a life changing experience for most people and it is the American dream.
“I like to believe in the American dream and I think homeownership has always been the dream of anyone who works hard. They want to own a home. There are some loan officers who are unethical and take advantage of people. I think ethics are very important in how we deal with the public and what your reputation is.”
WHAT DO YOU LOOK FOR IN A LOAN OFFICER?
McMoran said she looks for enthusiasm, optimism and ethics. “You can teach the mortgage industry, you can’t teach ethics, integrity and personal drive.”
BEST WAY TO GET CLOSE TO REALTORS?
“Face to face. Be where Realtors are and offer than something other than ‘Give me a loan’. You can go in and offer them something that makes their life easier or helps them make another sale. They want to be told up front if a deal isn’t going to work and what the client can do to help their situation.”
ADVICE TO LOAN OFFICERS?
McMoran told of her experience during the refinance boom where Realtors were being ignored. “That’s when I learned to take care of your Realtors because they’ll take care of you when the market changes. This market is cyclical. There are a lot of loan officers out there who have never been in a down market. I’ve been in two of them. My warning is you better learn and know your business because the pie is going to shrink.”
WHAT CAN REALTORS DO TO HELP LOAN OFFICERS?
“Align themselves with a good loan officer and let the loan officer do their job. Listen to what the customer is saying to them because the customer is going to dictate where they are going to take them and what price range.”
WHAT CAN LENDERS DO TO HELP REALTORS?
“Work as a team and be honest with each other. Be reasonable. It’s a relationship and a partnership. There is a loyalty with those partnerships and it’s a give and take.”
WHAT’S THE BIGGEST CHALLENGE WITH BEING A LENDER?
McMoran said educating the consumer on the lending process. “The other issue we have is getting people educated on credit, understanding credit and paying their bills on time. It’s educating people and making sure people take the technology that is available to them and using it in the right direction.”
CONDOMINIUM MARKET?
“I did the first condominium conversion, Marsh Cove in Ponte Vedra Beach. We are already in it. We have three or four sites and we are right in the middle of it.”
DO YOU THINK IT WILL CONTINUE?
Yes, McMoran said, but it will depend on where people want to live and the availability of land. “It’s going to continue for awhile. People like having second homes here. We will reach a saturation point, but we still have a long way to go.”
IS THE TREND BIGGER OR SMALLER MORTGAGES?
“Bigger with smaller payments. They are looking at buying more house with smaller payments. The mortgage may be higher, but we are seeing a lot more 100 percent mortgages. I think the secondary market is probably going to alter how we do business. Young couples are maximizing their dollars, it’s the only tax deduction they have, besides children.”
- by Michele Newbern Gillis