PROFESSIONAL PROFILE
Ian Beamer
www.rate.com/ianbeamer
Interview Q&A
Who is your typical customer and what questions do they typically have?
My customers at this point run the gambit from first time homebuyers to lifelong investors. I have been originating loans in the Chicago land area since 1999, so while we are always adding new clients, we have several clients who we have been helping purchase and refinance for years. Obviously "rate?" is usually the first question out of a client's mouth. I realize that my own brother would leave me for .250% so I do continue to price loans as competitively as possible. For this reason, I think clients learn quickly that extremely competitive rates with excellent customer service make the choice of which lender to use a pretty easy decision to make.
How has the mortgage industry changed since you started, and what would you expect in the future?
The mortgage industry has changed a great deal since I started originating loans and continues to change. Rates are obviously lower than anyone has ever seen and with the help of FHA streamline refinance programs and the HARP programs many borrowers are refinancing even though their home values may have fallen. Even with guidelines being a bit more stringent than what we have seen over the past five or six years, I still try to make sure clients are comfortable with their loan terms. Borrowers need to know that even though the bank may approve them up to a certain loan amount; they are the ones responsible for the monthly payments. I always ask a buyer to think about what kind of payment he is comfortable with, before I tell him how much he can afford.
What can borrowers do to ensure a smooth mortgage underwriting process?
In order to insure a smooth mortgage underwriting process, it is important to be as open and honest upfront as possible. Clear communication between the loan officer and the home owners is essential. In the current lending environment, we now need to document and verify everything and often more than once. If a borrower receives commissions or bonuses that might be iritic, a simple letter to explain why earnings might be higher in the summertime vs. winter and fall will go a long way towards a smooth clean approval. If we can set the file up in a manner that the underwriter can easily follow, we can meet our contingency dates and keep all parties as stress free as possible.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
When I am not at the office, I am usually spending time with my wife and our two children. We have a little boy and a little girl, two years apart, who keep us busy with soccer practices or gymnastics. We love all Chicago sports but especially the Cubs. If we get a long weekend or over the holidays, we usually head to Boyne City Michigan to float around Lake Charlevoix or ski down Boyne Mountain.
Tell us something that makes you unique or something wacky, yet interesting about you?
I spent quite a bit of my time in junior high, high school and even into college, watching the same movies over and over again with friends. As a result, I have been known to quote or flat out recite certain lines from various movies.
PROFESSIONAL EXCELLENCE
Five Star Professional conducts market-specific research throughout the U.S. to identify service professionals who demonstrate professional excellence and provide quality services to their clients. The Five Star Mortgage Professional program is the largest and most widely published award program for mortgage professionals in North America, covering more than 40 major markets. Five Star award winners do not pay a fee to be included in the research or on the final list of award winners.
The Five Star Professional research team contacted thousands of recent homebuyers, consumers and industry leaders to identify Chicago-area mortgage professionals who stand out in their industry and community.
To learn more about the research methodology, click here.
