Karen Deis has been involved in the mortgage business for 28 years. During that time, she also owned a real estate company, an appraisal company and co-owned a mortgage company with a large builder.
As a mortgage professional, she has held almost every position within the mortgage industry: Fannie/Freddie/FHA Underwriter ; Closing Agent ; Loan originator, Branch Manager ; mortgage company owner (10 years); Real estate broker’s license (20 years, inactive status currently). She currently owns single family investment properties and a commercial real estate property.
As a mortgage company owner, she did business with 8-10 wholesale mortgage companies who bought her loans in the secondary market. This included the complicated process of getting approved to do business with them, quality control and bonding requirements.
As a closing agent, she was responsible for $60 to $75 million in closed loans per year, including balancing all HUD 1’s before the loan was disbursed and insure all closing conditions were met.
As an underwriter, she was responsible for making sure the borrowers met all underwriting conditions, including document and appraisal reviews.
Her appraisal company preformed 250 appraisals per year, appraising both purchase and refinance transactions. Each appraiser had to be approved by each investor (wholesale company) and quality control audits were supplied on an annual basis.
In 2000, she sold all of her companies to concentrate on Internet training for loan originators and real estate agents, including a website she publishes called www.MortgageCurrentcy.com, which interprets the old/new rules and regulations for Fannie, Freddie, FHA, VA, Rural Housing, Compliance and credit issues. She employs staff “experts” who routinely answer a variety of mortgage questions for loan originators and company owners.
She is a contributing columnist for several prominent mortgage magazines and had served on the Board of Directors for the Wisconsin Association of Mortgage Lenders (3 years), including the Chair of their Education Committee. She has also served on the Board of the Indiana and Texas mortgage lenders associations.
She has been an expert witness since 1988. Other websites include:
LoanOfficerMagazine.comMortgageSpeakersBureau.com
LoanOfficerSeminars.com
MortgageGirlfriends.com
MortgageCurrentcy.com