John Kresevic – What does a Loan Officer Do?

John Kresevic is an experienced young professional in the financial services industry. He began his career in the industry with Quicken Loans at the age of 22. He was responsible for reviewing credit reports and writing loans. By 23, he was leading a sales team that made $20 million annually. He now works for Forthright Funding as an Executive Loan Officer in Scottsdale, Arizona.

John Kresevic

Here is a simplified rundown of what a loan officer is responsible for.

  • The first responsibility of a loan officer is to seek out potential clients. Clients are found through networking with individuals who provide referrals. Real estate companies, existing clients, financial planners, and developers are usually the best sources for getting referrals to new potential clients.
  • Loan officers are then responsible for meeting potential clients and finding out what their real estate goals and needs are. During this initial meeting the loan officer will collect important documentation and ask certain questions to gain pertinent information about the client’s finances. The initial meeting also provides the client an opportunity to ask the loan officer any questions they may have.
  • Lastly, loan officers analyze the client’s financial information and decide whether they qualify for a loan or not and what rate they are eligible. This task is sometimes passed on to a loan underwriter. The most important piece of information that the loan officer requires is the client’s credit report and bank statements showing their debt to income ratio. If the loan application is approved, the loan officer then closes the loan.

John Kresevic was the youngest Regional Vice President at Quicken Loans when he turned 27.


John Kresevic – Three Mortgage-Shopping Mistakes to Avoid

John Kresevic is an Executive Loan Officer at Forthright Funding in Scottsdale, Arizona. Part of his job is to evaluate loan applications, determine credit worthiness, and either accepting or declining loan applications while explaining either decision to the client.

John Kresevic

John Kresevic often sees common mistakes made by clients who are applying for loans and mortgages. Here are three common mistakes made by clients applying for mortgages.

  • Clients often decline getting pre-approved for a mortgage. This is something to avoid because pre-approvals let the client know what kind of mortgage and rate they can expect based on their income, debt, and credit report. It is a process to go through and declining to get pre-approved is a missed opportunity that can make the process more stressful.
  • Clients sometimes bite of more than they can chew when they accept a rate. Some clients are simply not able or in a financial position to pay a monthly mortgage and renting may be a better option for them. Not all mortgage lenders take this into consideration though and some work hard to ensure their client gets approved, even if it means the client likely can’t really afford it.
  • Lastly, one of the most common mistake professionals in the financial services industry see is clients signing loan documents that they do not truly understand. Clients need to ask more questions and ensure that they are clear on every aspect of their mortgage.

John Kresevic previously worked for Quicken Loans. At the age of 23, he was leading a sales team that pulled in $20 million annually and was named the sales team of the year at Quicken Loans in 2012 and 2013.

John Kresevic – Three Tips for Getting the Best Mortgage

John Kresevic is an experienced professional in the financial services industry. He was the youngest Regional Vice President at Quick Loans and was in charge of nearly $1 billion in mortgage origination volume annually. He currently works for Forthright Funding as an Executive Loan Officer.

John Kresevic
John Kresevic

John Kresevic’s experience in the financial industry has allowed him to absorb a vast amount of knowledge regarding mortgages. Here are three tips for getting the best mortgage possible.

1.Clients ready to secure a loan need to have their credit report ready. Credit Reports are one of the most important determining factors for lenders deciding what kind of rates to offer. Clients should review their credit reports at least once a year to ensure that there are no errors. If there are errors, it could cause a report to be lowered by a few points, which can greatly affect the rates lenders offer.

2.Prior to applying for a mortgage, consumers need to work on improving their debt-to-income ratio. Debt-to-income ratio is the amount of money a person makes versus the amount they owe. Lenders consider this ratio when consumers apply for a loan. Making bigger payments on credit card debt will boost this ratio. The less a consumer owes, the more desirable of a candidate they are.

3.It’s recommended that consumer save ahead of time so that they can put down a large down payment. The bigger the down payment, the smaller the loan a consumer will have to take out, and the better rate they may be offered. Most mortgages require a down payment of between 5 to 20 percent.