Storie: 0:15

Welcome back to Market it with Atma, where we share the tips, tools and strategies to help your business be successful. I'm your host, dori, and today we have on the show Ms Stephanie Philipos, who is a mortgage loan officer with Succedo Mortgage. Welcome.

Stephanie: 0:32

Thank you, Story. I'm excited to be here.

Storie: 0:34

I'm so excited for you to tell me more about everything you do. Can you tell me a little bit about, well, our audience, a little bit about your journey into becoming a business owner and where you are now?

Stephanie: 0:47

Well, I grew up in the mortgage industry. My dad was a realtor and a loan officer, and so, having seen that all my life, I saw the flexibility in it, and, after being a stay-at-home mom for the past seven years, I wanted to come back to the workforce and I wanted something that would give me flexibility to be present with my kids, to go on field trips, something I can do from home and still help people, and this was the perfect fit.

Storie: 1:17

Wow, staying home for seven years and then coming back into the workforce, it's a huge culture shock.

Stephanie: 1:23

I'm sure so much changes in just a couple of years, absolutely, even the way that our business is even done now it can be completely virtual.

Storie: 1:34

So is it very, is it astronomically different from when your dad was in the industry, compared to the service you provide now? Absolutely. In what way would you say the?

Stephanie: 1:44

most he would have people coming over to the house to fill out the application or go to their house to physically fill it out, where now it's a phone call and we can just do it over the phone, wherever they are on their lunch break and virtually do it all.

Storie: 1:58

Man, that's wonderful, even the signatures, and everything can be done virtually.

Stephanie: 2:02

Everything, the whole closing you can.

Storie: 2:03

You don't even have to ever be in a physical office, so that almost makes takes the dread out of you know having this industry. I know real estate agents, for instance, that you you'd want to work with or work with. They are always on site everywhere, but now it seems like there's so much more freed up time because of the digital aspect of it. Is that really allowing you to be more present with your kids?

Stephanie: 2:31

Absolutely. Yeah absolutely, while I'm not sacrificing the quality that I'm giving to my clients.

Storie: 2:39

That's awesome and almost giving them an extra service. It's like you're giving them that availability to call on their lunch break and make the whole process easier. I wish I had you when I was purchasing my home. This would have been a lot easier. Can you walk me through, say, if I wanted to sell my home and purchase a new home? If I reached out to you because we've gone to a couple networking events together and said, hey, I want to do that, how would that process work for me and you?

Stephanie: 3:07

So first I would hear you out and listen to what exactly you are wanting, because we do have different products for different types of situations and everybody is different. So I would also go through just a list of questions for you and try to understand your need better so I can tailor your specific product.

Storie: 3:32

Yeah, no, that honestly, just having you be more conversational, I don't feel like I'm being sold to, and I think that's a buyer's number one dread is I don't want someone telling me things that I don't understand, that I don't, I'm not interested in, and you actually being able to personalize it, I think is really important, especially in such an AI generated world right now. I mean, it's just, we want real relationships. We want real relationships. So what differentiates you? Is the online accessibility to you, which I don't think a lot of other mortgage loan officers have the availability of, or is it becoming more common?

Stephanie: 4:16

It is becoming more common, but especially Like our biggest competitor are banks. Oh, okay, and so to get a loan with a bank is a very long process. It's very stringent, there is not a whole lot of flexibility and their rates are what they are, versus coming to us as a mortgage loan officer. We can get you pre-approved in as little as 24 hours. Wow, we can close on your loan in just a little over two weeks. We have relationships with wholesale lenders. We actually have specific advocates that we talk to, so that comes in handy, because sometimes you need to rush a file, you need to rush a closing if you know some catastrophic event happened to that person and they need to get out of the country, for example.

Stephanie: 5:12

You know, they want to rush that closing. So we have those relationships where we can do that.

Storie: 5:18

Wow, that is incredible. So I know I didn't mention this to you before before, but I came from the financial industry in my past and I know through closing um, I mean even lines of credit or or you know, that first down payment it could take us up to three months to get it completely processed and, and, depending, if everybody did their job in the right way at the right time.

Storie: 5:44

So you're pretty much saying that not only can you offer better rates to people without going to the bank and going through that process, but it's a significantly shorter amount of time because of your relationships.

Stephanie: 5:56

Yes, and my relationship with my client. I take that very seriously because I protect that. So I don't let them, I don't just take their information, give them their possibilities and hand them off. I like to hold their hand throughout the whole process. That's really important to me, so I don't want to pass them off to the processing team and then they go hear things. You know that they still need to provide documents and stuff. No, I want to be there to provide clarity throughout the whole. Thing.

Storie: 6:28

Yeah, and even maybe, after they've processed their experience with you, could they reach out to you down the road if they had a question about somebody else that wanted it Absolutely.

Stephanie: 6:39

Absolutely. I would definitely be looking forward to referrals and even return customers when they want to refinance when the rate gets better. Oh, that's a good point.

Storie: 6:49

So do you keep track and kind of really stay on top of the fluctuation of the rates?

Stephanie: 6:55

Absolutely, we check it every day. Yeah, yeah, that's wonderful.

Storie: 6:59

So when is the best time to buy?

Stephanie: 7:01

It depends on the market. I mean it depends on President Trump right now, right, right. I mean everything revolves around that, I guess at the core.

Storie: 7:09

But oh, let me clarify. You are a mortgage loan officer for residential. You don't do commercial, right, I do not. Okay, so you are proficient in the residential. If anyone needs one, yes, and not only for DFW, but for all of Texas, all of Texas anywhere.

Stephanie: 7:26

Yeah, because there's so much that we can offer. We can do VA loans. We can do unconventional loans, which is like a jumbo loan. We can do conventional FHA. We have a lot of products, so just depending on the person's need, we can tailor that.

Storie: 7:45

Yeah, I know that buying a home and the fear of having to pay that down payment and not knowing what to expect or how much it'll be is the most daunting, I think, for first-time homebuyers. It was for me because it's like you don't know until you're almost closed what that down payment is going to be, and it's a hefty amount. So what would you suggest to first-time homebuyers that are going through that process, and how?

Stephanie: 8:13

it works. So my approach is to break everything down in plain language. I like to focus on what is the most important to them Is it the interest rate or is it their monthly payment? And breaking down everything prior to getting to closing really makes them comfortable, helps them have a better grasp on what's going to happen and what to expect. There's no surprises in the fees, nothing like it's all very smooth, so I like to educate them.

Storie: 8:49

Yeah, you don't treat them like just a number and in your client base, you really create a relationship with these people and truly care. I know that being over-informed is always better than being under-informed. For me, if you just give me communication, whether I understand it or not which most of the time in your industry I don't um, it still makes me feel like like you know what you're doing and and that's another reason I wanted you on the show because of from the first time I met you, I knew she knows her stuff, she knows what she's doing and how to do it. But this is the people that should be in this industry, the ones that do want to treat you like a person, the ones that do want to walk you through it so you're not blind, because, um, I didn't have one of you, I had to figure it out on my own and that's stressful.

Storie: 9:33

It is when you're trying to figure out something that you you've never gone to school for, you've never educated yourself for. So thank you for being the relationship that you have. So what? Um, we work off of the build launch, grow scale kind of methodology at Advent Trinity. Where would you say you're at in that build launch, grow scale?

Stephanie: 9:54

phase. I'm definitely building Okay, I'm building my clientele, I'm building relationships.

Storie: 10:01

So you said you're in the build phase of your business right now.

Stephanie: 10:06

Yes, that's correct. So I am just looking to market, getting the word out there in my circle and beyond that. I have shifted careers and I am a loan officer and I'm here to service your needs and building my client base and creating these partnerships with realtors and just networking. That's great.

Storie: 10:32

Yeah, we met at a networking event and we have a lot up here that's how we met, and NuvaDesk or Avid Trinity, but of course we host this at NuvaDesk and so we have two a month. But where, would you say, has been your primary marketing focus in the build phase? Was it on social media? Is it networking with people? Is it asking for referrals to other people in your industry?

Stephanie: 11:03

I've done some on social media, but I think right now just getting the word out that I am here and I am available will cause traction when the rates fall and when people begin to start looking again you know to keep me in mind.

Storie: 11:22

Absolutely, if anything, for the sheer availability of doing everything online. That's what appealed to me most about you, cause you've kind of seen me run around up here. Life's busy and you know as a mom it can get even busier, so having that is, I think, would be my primary focus as a mom, um, as I'm sure it is yours as well, and you're teaching your kids Like. I think that's an amazing thing that we as women business women can do is, yes, we have stay at home jobs, but our kids are truly watching us create a business from scratch and put in that effort, and I think it instills it in them as well.

Storie: 12:03

So where are you? You're in the build phase right now. Where are you wanting to be in the launch phase? What are your goals for the next year? Um, what's your main focus and who are you wanting to help?

Storie: 12:17

my goal is to be well known in all of texas so that brand awareness and just letting people know you're out there because you stay at home, right, um, for as long as you have. It's almost just letting them know hey, all the people that loved me before I'm doing this now, right, exactly. Yeah, it's like you went in a cave for a minute it's um.

Stephanie: 12:39

It's funny because someone posted a friend of mine um posted on my on my coming out you know post that I was a loan officer. He posted and said is there anything you can't do?

Storie: 12:57

You know that's a compliment. I've worn a lot of hats, but you know what it creates such a knowledgeable person. You're a great networking partner. You connect people, can't you? Because you have that knowledge of so many different things and industries, right? I love it. And you even helped your husband kind of start his business, right, you're a jack of all trades. I love it. So, going forward, what would you say? One piece of advice is that you would give to our listeners either wanting to be an entrepreneur, looking into being a mortgage loan officer, or someone who's a mom that wants to go back in the industry what's something you wish you would have known or advice you would have been given before you started your business that they can take hold of my advice is just simple is Don't wait.

Stephanie: 13:45

There's nothing to wait for. Get your foot in the door and start doing.

Storie: 13:50

Yeah.

Stephanie: 13:51

And stop dreaming and actually do it, because you have nothing to lose.

Storie: 13:57

That's right. I guess that is very true, there's nothing to lose.

Stephanie: 14:01

I mean, when you're ready, you're ready, and at least, even if you are not ready right away, you still are done with the coursework, the licensing, all of that. So when you're ready to launch, you'll be ready. That's awesome, yeah, because sometimes it's scary, yeah, and that's kind of my same advice that I would give, for you know someone that's looking at buying a house. That's looking at buying a house, I would say, even if you're just dating the market right now you know, and just randomly checking out open houses, I would start the conversation now.

Stephanie: 14:43

Start exploring your options now so that you have all these ducks in a row and everything's in place, so that when you want to put down an offer, it's a very strong offer and you don't lose out on the house that you want. Right, because now you're starting from scratch.

Storie: 15:00

So you're saying you're pretty much offering free consultations. Whether they're purchasing right now or not, starting that process early is very important, definitely Okay, all right.

Stephanie: 15:12

It gives them time to gather the documents, it gives them more knowledge to understand what fits within their budget and what they are wanting to do, and we offer soft credit checks so they don't have to be hit hard, even if they change their mind. That's okay.

Storie: 15:31

I love that because I think one of the biggest issues most people have is every time it hits your credit hard. It hits your credit hard and we didn't like that. Um, it doesn't look good. So soft credit pulls are amazing. I didn't even know you guys could do that. So the earlier they get with you, at least you can set up a game plan is what you're saying. So, even as next year, if we find out that your credit isn't where you need to be for the house you want, you have time, yeah, and you can kind of help them walk through that process as well.

Stephanie: 16:03

Absolutely, I can. I have someone that I partner with at Evolve Credit and she will help work with you to get your credit where it needs to be. We can advise on, like what you should pay off to you know, reduce your debt to income ratio, all of that.

Storie: 16:20

So that is important to know. I need to consider that when I get ready to sell.

Stephanie: 16:25

Where is my credit now?

Storie: 16:26

So I'll give you a call then to sell. Where is my credit now? So I'll give you a call then. Um, so where can anyone reach out to you if they want to learn more, if they want to start? You know, just making sure they have everything in line for where they want to be in a year or two years.

Stephanie: 16:38

Absolutely so. I try to keep um my Facebook and my Instagram up to date with any current programs that are offered Um.

Stephanie: 16:50

so for a while we had like a first time home buyer $6,000, you know credit, Um, but that's kind of running out soon. Um, but where you can follow me for tips and advice, um, is Steph S T E P H dot, the loaner. So, um, it's Steph dot theloner and that's my handle for Instagram and Facebook, and then you can call or text me at 972-537-8446. And I am happy to answer any questions.

Storie: 17:24

Well, thank you so much for coming on the show and sharing all that information. A lot I still didn't know about, but I really appreciate you educating our entrepreneurs and our listeners.

Stephanie: 17:34

Thank you for having me Story.

Storie: 17:35

Of course, and for all of our listeners out there, thank you for coming on to see another episode of Market it with Atma. If you have any questions, please shoot me a call and I will send it over to Stephanie. See you next time.