Bay Area Finance Professional Discover the Sweet Taste of Success
michaelRYAN
Michael Ryan defines himself as a true mortgage broker, and also
makes it clear that many rumors that circulate about the home lending
market are just that.
Ryan has over two decades of experience working with home loans,
for both investors and individuals. He also works with SBA loans and
hard money. Ryan is based in California’s Silicon Valley, and has done
more than 108 mortgages for a single investor.
“What I enjoy about my business really is networking with people who
are trying to change their financial future,” Ryan said during a recent
telephone interview.
Unfortunately, over his career tightened lending guidelines and
government regulations have created some challenges for both him
and his clients. More people, not just appraisers and lenders, have
become involved in the mortgage process.
“Every hand that touches the file
has to create a condition.
Frankly, I call it brain damage.
That's the part of the fear of the
regulators,” Ryan said.
“I was at a meeting in September, and the president of the Mortgage
Bankers Association was speaking. One of the interesting statistics he
came up with was during the gogo years, which was that window
before the great recession, it cost somewhere between $600 and $700
in the back office to do a mortgage loan. We’re just talking regular
residential loans. That number is now $8,200.”
In response to an interview question, Ryan said tightened government
regulations have nothing to do with partisan politics as some people
want to believe.