An introduction from the banking “Pup”

by Tom Vanderwell

Mortgage Officer

Author website

Hi,

First I want to thank all of you for making me feel so welcomed as one of the newest members of the Bloodhounds.   I’ve felt very welcomed and I appreciate that.   I’ve also learned a lot.

As Greg said when we kicked off Project Bloodhound, he’d let all of the pups take the opportunity to properly introduce themselves.  I’m going to attempt to do that.

First the basics: My name is Tom Vanderwell, I’ve been married to my high school sweetheart and best friend for 23 years (well it will be 23 years in 11 days).   We have 5 children.  The oldest (21) is living and working in Ohio as a call center rep.   My 18 year old will be attending Calvin College in the fall to pursue a nursing career.  She plans on going into third world nursing, specifically at this point in Haiti.  Our 16 year old will be a junior in high school.   Four years ago we adopted two more kids from Haiti (www.glahaiti.org).  They are currently 6 and 7 (the 7 year is the only boy besides for me in the whole family!)   Let’s just say life is never boring at our house!

One of the questions that I enjoy asking others in the real estate world is “How did you get into the real estate business?”   So here’s my story.  In 1988, I was running the showroom of a local furniture rental store (not a rent to own, but a temporary leasing store) and got let go because I refused to lie to the customers (go figure?).   One of my customers was a Realtor and she made a comment to me, “You should think about selling real estate.”   Well, after a couple of months looking for a job, I decided to pursue the idea.   I ended up selling real estate for 3 1/2 years.  I don’t know how many of you were around during the first Persian Gulf War, but I didn’t sell a house for 6 months during that.   Needless to say, it was time to look for something else.

In 1991, I made the switch to mortgage lending and went to work for what is now part of the JP Morgan Chase originating mortgages.  To me it was a logical move and it ended up working very well for me.   Over the last 17 years, I’ve worked for what was, at that time, the 5th largest bank in the country, 3 smaller community banks, and now Fifth Third Bank which is known as a “super regional” bank.

So, how did I manage to last this long in an industry where the average “life” of a mortgage lender is around 5 years?  Let me explain:

In 1995, I was getting burned out by the “sell, sell, sell” atmosphere at the bank, seriously enough that I was considering a change in career.  I was talking to a friend of my parents (kind of a mentor thing) and he said something that really changed my career.   He told me, “You know, Tom, God needs good people in the finance world.”   That changed things for me.   Rather than looking at my job as someone who sold money, I look at my job as an opportunity to help people.   How does that play out?

I’m spending the time to make sure that people get the right mortgage and “do” their real estate transactions right.  It really changed my perspective on things.   Now, my outlook isn’t “sell sell sell.”   Instead, I look at it as “How can I make a difference in someone’s financial picture today?”

That means that:

1. I treat the older couple looking to move their mortgage from their house to their cottage so they can sell their house to their daughter on a contract with the same amount of time, attention to detail and persistence as I do the doctor building a cottage.
2. That I take the time to discuss what a prospective borrower’s both short and long term plans are in regards to that particular property and the debt so that we can make sure we’re doing the right thing.
3. That also means that, on the rare occasion that it happens, that if someone else (aka the “other” lender) has a program that would work better for this particular clients needs, I’ll practice what I preach and talk straight and tell them that it’s a better deal.

Especially in today’s market, it’s never been more important to deal with a professional who puts your needs and wants first (you know, people like Dan Green and Brian Brady).   Someone who takes the time to figure out all of the angles and takes the time to do things right.

Oh, and that’s why I started my blog, Straight Talk About Mortgages and Real Estate, because I believe that we wouldn’t be in nearly as much of a mess right now if we had more mortgage lenders who talked straight and put their customer’s needs first.  (You know, people like Dan Green and Brian Brady.)

So, there you have my “mortgage story.”   Besides for a house full of kids and a busy mortgage business, what do I like to do in my spare time?  I’m on the board for the orphanage we adopted our two youngest kids from, love to play golf (but don’t have much time for it), enjoy reading, coaching my son’s soccer team, swimming in the pool and camping.

A couple of additional thoughts about me and my business:   1) I’m an e-mail/cell phone/IM/twitter junkie.   I spend way too much time on them, but it’s important to keep in touch with the people who need you and important to keep my finger on the “pulse” of what’s happening in the markets.   Real estate doesn’t happen strictly 9 to 5, so mortgages don’t happen strictly 9 to 5.   2) The bank I work for is licensed to write mortgages in 37 of the 50 states.   I’ve done mortgages in 11 of the states but I’d love to do more states.

2) I’ve set up a feature on my blog that I call House of the Week.   What is it?   A series of posts (one per week – duh!) where I’d like to feature houses from all over the country that are currently for sale.   Why?  Because I think houses are cool and I think the different types and styles of houses in different areas are intriguing.   So if you have any listings that you’d like to feature on the house of the week, send me up to 700 words and up to four pictures and I’ll put it on with a link back to your site

Okay, enough “commercials” (maybe too many?).   I look forward to hanging out with you guys and learning more about the standards of excellence and the best ways to take care of clients.   I consider it a privilege to be part of the Bloodhound Blog gang and I hope that I can not only learn from the rest of you but also add an experienced mortgage lender’s perspectives on what’s happening in the mortgage and housing markets.

If any of you actually read this far, I’m really impressed and flattered!

Tom Vanderwell