Residential Mortgages — Doing More for You
October 29, 2018 |
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When Dime decided to get back into the residential mortgage game, they needed someone who not only understood the ins and outs of the modern mortgage business, but someone who had a deep understanding of New York real estate — especially since there’s nothing quite like it anywhere else in the world.
That’s where Nancy Tomich came in. With nearly 30 years of experience in the financial sector, most of those in residential mortgages in some way or another, she was the obvious choice to bring Dime’s residential mortgage game to the next level. As Senior Vice President of Residential Lending for Dime Community Bank, Nancy has helped create a forward-thinking, customer-focused department driven to stand out — for all the right reasons.
Standing out in a saturated market
According to Nancy, “The New York tri-state market is one of the most competitive markets in the country” when it comes to residential mortgages. And as one of the leading financial capitals in the world, “there are a multitude of money center banks, regional banks, community banks, large non-depository lenders like Quicken Loans, plus a handful of larger credit unions,” she added.
So how does Dime plan to stand out in a market that already has such abundant competition? Nancy has relied on her years of experience really listening to “customers’ comments and complaints to truly set out to create a smooth experience for the client,” Nancy explained. She started by building her team of exceptionally knowledgeable mortgage lenders, curated technology and procedures that will streamline the home buying process, and finally (and most importantly) instituted a policy of “Platinum Service” that will set Dime up for real success.
The know-everything team
A number of banks and mortgage lenders boast about their knowledgeable teams, but few can prove it when really pushed. For Nancy and Dime, it was essential for them to find team members who were experienced, seasoned professionals who had worked through various lending cycles. And it was of the utmost importance that these professionals had a real love for the job to ensure they would provide the best service possible for their customers.
“Our staff is nimble,” Nancy said with pride, “and works side-by-side one another in the local market. We understand the unique property types in this market — from cooperatives to condos, 2-4 units and investment properties.” Her team understands the needs of every customer, including low and moderate income borrowers and jumbo buyers, and treats them all with respect. Everyone deserves to own a home, and Nancy and her team are dedicated to helping each customer achieve that dream.
The new residential mortgage team at Dime knows the industry inside and out, and use their collective knowledge to help each of their customers get the most for their money, while smoothing out the wrinkles that can pop up during the home buying process.
Anyone who has ever bought a home before knows how convoluted and complicated the process can be, and so streamlining that process became an important part of the new residential mortgage department at Dime. “We cut through the red tape in residential lending,” Nancy said.
One of the ways they do this is by maintaining what Nancy calls a “boutique lending operation” that helps set her team apart from the competition of other big lenders. “The entire residential team has extensive experience with larger firms,” she explained. “We’ve seen the pitfalls of large operations, and have tailored our service and workflow to avoid issues that slow down closing, and that are confusing to customers.” This means that her teams’ loans are able to close faster, between 45-60 days.
Dime has also put technology in place to accommodate those “borrowers who want to e-sign documents and upload them to a portal,” but they still offer the ability to be flexible for clients who prefer in-person meetings, or to have their documents mailed to them. Whatever the customer wants, Dime has the ability and technology to make it happen.
Platinum level service
The cornerstone of Nancy’s plan is probably the most interesting of all the elements that make up her new department. “The customer experience is top of mind,” Nancy explained. “We provide platinum level service to each and every customer.” So what is platinum service, exactly?
To put it simply, it’s prompt, efficient, and thorough communication at every step of the process. “The customer will communicate with their senior mortgage advisor, and after the initial application and supporting documents are received, the customer will be introduced to and communicate with the Vice President of Residential Lending.” Customers will receive a reply to their calls and emails within 2 hours , if not immediately. Which helps new and seasoned homebuyers feel more secure and supported throughout the process.
Nancy and her team also provide a great deal of advice and guidance to their customers. “First time homebuyers should select a lender with a professional, patient team to guide them through the biggest transaction of their life,” Nancy said, and her team has extensive experience helping new homebuyers through the steps. Communication and understanding are always at the forefront of Dime’s philosophy, and homebuyers can trust that.
For more seasoned homebuyers who might not need as much hand holding, Nancy recommends that they “choose lenders that reply quickly and inform them of any potential issues early on, so they can be handled quickly to ensure a smooth closing.” And her team could teach Master Classes in reliable communications.
So why Dime?
If fast closings, prompt service, quick answers, and knowledgeable professionals weren’t enough reasons to choose Dime, it might be comforting to know that the whole team is united under Nancy’s leadership, so there are no conflicting objectives for the team. They are all focused on providing exceptional, platinum service to each customer. And just to show how much they care, Dime’s senior loan advisors often attend their closings to show their continued support to their customers.
Nancy and her department are also committed to giving back to the communities they serve, and join the rest of the Dime family in local charity events and festivals regularly.
Ready to learn more about Dime’s residential mortgages, or want to chat with residential mortgage guru Nancy Tomich? Contact us today.