Today we’d like to introduce you to Danny Summerville.
Hi Danny, thanks for joining us today. We’d love for you to start by introducing yourself.
I became a licensed Mortgage Loan Officer in December of 2019. It had always been my goal to become a loan officer once I purchased my first home with my wife in 2017. I realized how impactful I could be to so many people, especially to the Black and Brown community. I, like so many other minorities, did not see or understand how valuable and possible homeownership was before owning. Once I completed the process of purchasing my first home, I saw that with a plan, homeownership was possible. I also remember feeling lost during the process and when I decided I wanted to be a loan officer I would give every client no matter their situation the best of me, which meant honesty, communication, and caring about them and their goal of homeownership. I spent from 2017 to 2019, while having a full-time job, preparing to be a Mortgage Loan Officer. To become a loan officer, I needed to take a 20 hour licensing course and pass a state licensing exam. It took me five times to pass the exam. The first three exams I failed, I had to wait 30 days before taking the exam again. After that, I had to wait six months before taking the exam again.
I took a break from working on my goal because I felt defeated for failing three times. I came back before expecting my first child to take the exam and I failed again in June of 2019. At that moment I was really disappointed because I knew the material and I also knew the exam was designed to make me fail and it had succeeded multiple times. After the birth of my first child Ella, in August of 2019, I lost my Job. I was more determined than ever to not fail again. I took three months to study and booked my exam for December of 2019. I passed the exam with a score over 95%. Now, I have financed over 65 million in home loans and assisted many first-time home buyers make their dream of purchasing a home a reality. Those families have used homebuyer programs that are available and I have provided exceptional service to them. I have worked with amazing realtors and clients that continue to allow me to assist other families with their dreams of homeownership.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
Being a Mortgage Loan Officer is a self-generated business. Building my business has had many great moments. However, at the beginning, I built my business at the start of the COVID-19 Pandemic. My initial plan was to meet realtors and prospective clients at open houses, but because of COVID-19, there were no open houses. I initially had a fear of promoting myself online because I was new to the industry and I was promoting myself in a new arena. I started by mailing flyers and sending messages to family and friends. For me, this was successful and landed me some business, but it was not enough. I began to share my knowledge and promote myself online. My family and friends shared my content and I began to receive more business. I eventually was able to connect with one of Los Angeles’ top realtors through a mutual post we were both mentioned in. We worked well together, and I was able to expand my business even further.
During this process, there has been a lot of movement in the market regarding rates and values of homes. During the low-rate environment, I had clients who loved their rates but hated bidding significantly over the initial asking prices of homes. During the higher-rate environment and steady home values since roughly July of 2022 clients have been finding it hard to qualify or be comfortable with the mortgage payment. This makes it tough because as a financial educator, it is my job to recommend the best option for a client and sometimes that means waiting for a client or not purchasing what a client may have initially wanted because of the cost. Because of my ability to connect, care, and communicate effectively with a client, this makes me unique. I am able to give honest opinions of the market, what I would do in those situations, and what I think is best for a client versus looking to make a quick dollar. I would tell anyone who wants to be a Mortgage Loan Officer that the challenges are always changing. With market imbalance, competing loan officers wanting to poach clients, clients being swayed by family members or friends that it is not a good time to buy, or losing realtor relationships the most important thing to do is to focus on why you started in the first place. This has helped me win each battle I have faced and allows me to effectively and efficiently help clients on their home buying journey.
Can you tell our readers more about what you do and what you think sets you apart from others?
As a Mortgage Loan Officer, my objective is to help families get a loan for their homes. I am a native of Los Angeles and I see the rising prices for homes. I assist families with qualifying for those homes with homebuyer programs that are available. I specialize in first-time homebuyer programs, whether that is down payment assistance or standard loan programs. I have helped families pay as little as $2,400 in total to purchase a home in Southern California. I am proud of the amount of people I have been able to help who thought they could never own a home in Los Angeles County, and I am beyond grateful that I get to do what I love to do while being a present husband and father. In the Mortgage Industry, with the amount of time I devote to clients and realtor partners my days can be long and often drag into dinner and the night. I do give my clients 110%, however I give my family that same 110%. I have been able to create a balance that allows me to do the work I love and enjoy my family.
If I had to pick one thing that sets me apart it would be my communication. I answer my phone, text, and respond back to email, if not immediately, in a timely manner. I am available and am knowledgeable about the products and services that are available to the community. I also NEVER discriminate. I provide the same enthusiasm and love to a person with a 500-credit score that I would to someone with an 800-credit score. I give the same energy to someone with a seven-figure job that I give to someone who has two part-time jobs that allows them to have a living wage. I love what I do and it shows with each interaction.
Do you have any advice for those just starting out?
My advice would be to be loud entering the industry! Promote who you are and what you are willing to do. Be outgoing and do not limit yourself to one situation or one group. It would also be to remain where you are celebrated and know what you provide is more than enough. Focusing on what other people do to succeed is great but may not be for you. AND never compromise your ethics!
Pricing:
- I never charge a client and they never pay me. Obtaining knowledge and information from me is always FREE.
Contact Info:
- Website: https://www.westinmortgage.com/dannys/
- Instagram: https://www.instagram.com/danny_theloanofficer/
- Facebook: https://www.facebook.com/DannyTheLoanOfficer?hc_ref=ARQZRx3d69_2-awuRvZfs8CzA2Iursy_Ii0-sX8iVRIIoZopSKpX_y6s5vITCNrWHKM&fref=nf&__xts__[0]=68.ARB3Jc3EGPalyxpeli8QKN3fdhxnauSWAH2R6jN0WZ-rTw3CnpdQlXJlCJWDNluLlwtGqo3F8qKcgtNHbDhlslEtDer_k6hr6l4pU5U_53W47P6Ew_iA08xwO1caTjHLiDfU_9bAkKPHyn88Sv4ekoPpr62tLOBJrTBz41qdgzlNWEi4fiF9kJXAhqMKJcMzjsYc6WHCjqdWaKoH2y8xXHCaB50m679Je11IWZZBVXgGH9zJUrcrarDdl4rxQDRIpLNKmpCsPe4fI_UyrXel35-2VeuX1eY
- Linkedin: https://www.linkedin.com/in/danny-summerville-621a42107
- Twitter: https://www.zillow.com/lender-profile/dannytheloanofficer/
- Yelp: https://www.yelp.com/biz/danny-summerville-westin-mortgage-riverside
- Other: https://www.tiktok.com/@danny_theloanofficer
