[ HAWAII AT WORK ]
FL MORRIS / FMORRIS@STARBULLETIN.COM
Loan manager
never bored
Chris Degala is relishing the current
low-interest real estate boom timesTo some, a day in the life of a loan officer may seem uneventful. I beg to differ. As a residential loan manager at Summit Lending of Hawaii, I often get to help to make people's dreams come true.
Rates are low. In fact they have not been this low since the 1970s. Right now everyone wants to buy or refinance. Sometimes I sign three or four loans in a single business day. But even though it's a great time to get a mortgage or refinance, there are still a lot of questions. It's not necessarily a simple process. There are numbers, percentages, ratios and governmental rules that vary for each individual and situation, often causing confusion and misunderstandings. Someone may think that they can get a certain rate just because their friend qualified for it. Or some people get their minds set on attaining a rate they don't qualify for when they may have a better deal in the long run at a slightly higher rate. Especially now, with the high volume of business going on in the industry, we need to take extra time to make sure clients are not rushed.
My goal is to find each client a loan situation they are comfortable with by carefully reviewing all the options and then explaining, in laymen's terms, exactly what each one means. Then the client can make an informed decision and feel good about the choice. I'll look at everything: not just rates but length of the loan, whether other debts can be consolidated under the new low rate, etc. There are so many variables. We work together to come up with a personally tailored best-case scenario.
Once we decide on the plan of action, we can implement it quickly because Summit Lending has processors, underwriters and closers all under one roof. I help clients improve their lifestyles by using the money they saved by lowering payments to enjoy life, take a trip, invest or do whatever makes them happy.
I have a reputation for doing whatever it takes to accommodate my clients. Recently I closed a loan for a couple that worked very odd hours. We found ourselves signing loan documents and escrow papers at 5:30 in the morning on the corner table of a Jack in the Box restaurant in Kalihi. I have also signed couples with hectic schedules separately by traveling to their different offices to complete the transaction.
I have always loved sharing my knowledge with people in a way that changes their lives for the better. My philosophy will remain the same even when rates start to climb and business slows: I will always strive to keep my clients happy by first giving them the tools they need to make a wise decision for their family, then doing whatever it takes to implement that decision and create the best loan package for them. When clients know I have delivered what I promised, they become life long customers and friends.
Uneventful? No way. Just over a year ago I was still working in the travel industry, where I had spent 15 years. The events of Sept. 11 led to a layoff and I found myself in a completely different line of work. And I can honestly say that I can see myself in the mortgage banking industry for the rest of my working days.
Hawaii At Work features tells what people do for a living in their own words. Send submissions to: business@starbulletin.com.
