The mortgage landscape is always changing. It’s dynamic and it’s fluid; it’s not static. Where is the mortgage market headed and what has changed with investment mortgage loans? Shawn Huss has been in the mortgage business for years. He's been ranked as one of the top 200 loan officers in the country for the past years. Shawn helps people understand what's available today, where we're going, and how that's going to impact them as real estate investors.
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Investment Loans And The Mortgage Landscape
It's my pleasure to welcome Shawn Huss to the show. Shawn has been in the mortgage business for years. He's been ranked as one of the top 200 loan officers in the country for the past years. He's personally originated over $1.8 billion in loans. He resides in Cincinnati, Ohio and he can lend pretty much all over the country. He's one of our preferred mortgage lenders and mortgage brokers. Shawn, welcome to the show.

Thanks, Marco, for the introduction. I'm glad to be part of your show.

I'm happy you're on. I'm doing a mortgage special. I'm going to have you and one of our other preferred and highly recommended lenders/mortgage brokers that we work with because we wanted to share with our audience some insight as to where the mortgage market is headed and what has changed with investment mortgage loans because that landscape does change. I know one thing with the lending space is that it's dynamic and fluid. It's not static. This is going to be helpful for a lot of people to understand what's available today, where we're going and how that's going to impact them as real estate investors. Tell us a little bit more about yourself, what you do and the business that you're in.

I work with Chemical Bank. We're a very investor-friendly bank. We close anywhere from 50 to 60 transactions per month. How we work with investors all over the country, we follow Fannie Mae and Freddie Mac guidelines, which means you can do up to a total of ten finance properties per one person. When you recommend your clients and you’ve got two qualified borrowers with a married couple, sometimes we'll suggest and educate them why it's best to maybe split them into one by ten and the other by ten. We do this process as far as an educational process. The industry has changed a lot with investment lenders. I've been working with the investor community the last years. Some of the banks follow Fannie Mae guidelines, some of the banks follow Freddie Mac guidelines. That's where people have seen differences with different banks over the past three or four years. They've pretty much in the last twelve months lined themselves up with each other. That's why some banks will max out four, some banks will max out six.

With Chemical Bank, we don't have any overlays. We don't have any low minimums. A lot of banks will have a low minimum or they won't lend for less than $75,000. As the investor will start looking at different price points at different levels of investment properties, they might find some of the $50,000, $60,000 range that are worked within their portfolio, then they go up to $150,000, $200,000 price point. Every situation is slightly different. What separates Chemical Bank in the investment community as far as making life a little easier is our processing, our underwriting and our closing all sits right outside my office.