As experts predict the housing market to boom in 2021, companies like Associated Mortgage Bankers are prepared to help people with loans for new homes.
In January, AMB opened its first Bronx location at 3770 East Tremont in Throggs Neck. Loan Officers Ed Angelino, Louis Kosko and David Valcich have several years of experience in the field.
The trio are licensed throughout the tri-state, but most of their work is in the Bronx/Westchester area.
Angelino, who went to college for communications, joked that he never imagined being in this field.
“You just kind of fall into it,” he explained. “I don’t think anyone ever pictured themselves doing this.”
They explained that there is no college course on how to be a loan officer. Typically, someone knows someone in the industry and things fall into place.
According to Angelino, a lot of being a loan officer is about on the job training and experience.
“I was very lucky to get into the business,” he explained. “It’s the best move I could have made.”
Valcich told the Bronx Times that while some people like to meet face to face, lending is not localized. Due to technology, they can work with people in multiple states.
But, he stressed that their many years of experience matters. Often, people may be told they don’t qualify for a loan, have bad credit or vice versa. However, the three of them are diligent and research each client carefully making sure nothing falls through the cracks.
“You learn that every deal is unique and you learn something new every time you make a loan,” Valcich said. “Everyone has their own kind of personal story; whether it is something going on with their credit or job history or money is coming from a different place.”