SHIFT Magazine SHIFT Q2 Final Edition - Page 27

Karen Buelterman Karen Buelterman is a senior mortgage broker at Arbor Financial in San Diego. She specializes in helping real estate agents and their buyers acquire financing for home purchases as well as helping current homeowners with their refinances. SHIFT: Karen, what are some of the services you provide? KB: I provide guidance with the mortgage lending process and this based on the educational approach. The mortgage process can be inundating and confusing, so I help guide my clients through this with patience, experience, and great communication. There is a lot of information and misinformation out there, and I help wade through this process and apply the right product, rate and payment that fits my clients’ goals. SHIFT: How has your industry changed since Covid-19? KB: This is a great question! It has completely changed but in a way we have never seen before. These changes will more than likely only be temporary changes as once we get on the other side of this, most if not all the changes will return to normal guidelines. As an example, verifying employment in the normal loan process occurred twice. Now, some lenders are verifying employment 4- 6 times and the last verification can be up to 7 days after funding the loan. This is to ensure that the borrower is still employed so they can make their payment. If they end up unemployed, this puts the lender at risk as if the secondary market will not purchase the loan because of the likelihood the payment won’t be made, that lender must service it until it can be sold- or not! 29