Dayton, Ohio (PressExposure) May 19, 2010 -- After having spent 11 years in the mortgage industry, I learned that things are not always what they seem. I couldn't believe that I had tons of home ownership programs and refinance programs before my very eyes, but then at some point it just didn't work anymore. I was sick to my stomach with disgust for the way business was being done, and how loan officers were treating their clients. In a world of greed on both sides of the bank and the consumer, I never thought I would see the light of day on this market or a benefit for a consumer. I didn't know what I was going to do now, or even where my communications skills fit in. I became a freelance copywriter, and I found that people needed to promote their businesses and I could help. That is how I met Mayer Dallal, a mortgage banker in Los Angeles who finally lifted the veil from my eyes on the housing industry.
I read about his experience and a scholarship program for the youth in Riverside, California. Everything about him spoke "servant" to me. This is a person who genuinely wishes to make a difference and impact the community in more than one way. I asked for an interview with Mayer Dallal, and it opened up a conversation and vulnerability that led to the answers that would change my view on a mortgage banker forever. Here are the questions and answer that we addressed in that interview.
Tammy- Mayer, what prompted you to become involved in the mortgage industry? Mayer- At the time, I needed a job. A friend of mine was a loan officer and we talked about my options. I was in school and I saw the potential in what the loan officers were doing. I started out working as a data entry clerk, then I became a processor, and then I was promoted to a junior underwriter position. What I saw as an underwriter was changing my view of the business. Here, these guys were making great money, but I saw terms changing at the closing table on people and it just wasn't right. I knew I could do this now that I had knowledge; I just knew there was a better way. I wanted to be in that position and just do things right.
Tammy- When did you know that the industry was changing, or that it was going to change dramatically? Mayer- I was in Vegas, and it was 2006. I was talking to the cab driver who told me that he had 5 investment properties and he said he was going to buy more. Something was really wrong with this picture. At another time, I was talking to my cousin's housekeeper that was telling me she had 5 houses too, and I knew we were trouble. It seemed that everyone I talked to had 3 or 4 homes, and it just didn't seem right. Buying homes was starting to sound like a hobby, and buying a house was just the "in" thing to do. Tammy- How did you overcome those obstacles? Mayer- I have been in the business for so long, and after awhile you develop the ability to hold up through tough times. I remember when FHA loans were booming, and then I saw cash out at the table so you adapt with the market. I saw all the markets and all the products come and go. I watched the 80/20, option arm, stated income and all of those things come and go. I am a professional and I have the credentials to help people. I saw all this coming with the different programs that were out there and I didn't promote them.
Tammy- Did you ever think that you would leave the mortgage industry? Mayer- No, never. When the market got really bad, I started looking at alternative ways to get things done. I had to look outside the box. There were short-sale listings from people who needed to get out of homes, and it was a matter of helping buyers get into those homes. Then, I would take that homeowner and help them get their credit re-established so that they could buy a home again someday. I would coach the seller, so that they could be a seller again in the future. For me, it was about getting in and helping those people because there just wasn't any other option.
Tammy- What drives you to be a part of this every day? Mayer- My kids. I wake up every day and get to work so that they can have a good life. They are 6 and 7. They know everything behind what I do, and they are exposed to every aspect of life. My kids can relate to anyone, and I want my kids to know that life is not the same for everyone as it is for them. They know what I do, they know why I do what I do, and they can see how it works.
Tammy- What is the one thing that you want the community to know about Mayer Dallal? Mayer- The most important thing? That would be that I operate with honesty and integrity. Anyone who works with me will know everything up front. I was raised knowing that I have my name and if you don't have a good name than the money that you have doesn't mean anything. There just isn't any other way for me to do this.
Mayer was very transparent about the business and what his sole desire it. It was a nice change to see someone who is in the business open up and reveal their concerns, while also revealing their goals for the industry. There is no doubt after this interview that Mayer Dallal is truly a professional, and if you're in the area and looking to buy a home then Mayer Dallal is the person you want to contact.
You can visit Mayer's websites by going to: http://www.mayerdallal.com (will be up and running in within a week), http://www.fhaloansnow.net , and http://www.inlandempireshortsaleresource.com . If you want to put your family into a home, don't wait another minute. Contact Mayer Dallal today at (310) 498-2700.