The McDonnell Group Wraps Up Another Successful Year Providing Buyers a Better Way to Finance
Industry: Banking & Loans
Unprecedented success rates and loan processing times in 2015 has made loan officer team a top pick for California homebuyers in need of financing
Irvine, California (PRUnderground) January 20th, 2016
Ryan McDonnell, a respected Orange County loan officer with Movement Mortgage, has concluded a successful year helping individuals and families secure the financing they need to make their home-buying dreams come true.
McDonnell and his team the McDonnell Group, based in Irvine, uses Movement Mortgage’s efficient, proprietary system to approve, process and close home loans in an average of 19.2 days—less than half the current industry average of 49 days (with some big banks taking up to 90 days). And in 2015, the team had more than 98 percent of its clients’ loan applications approved, far exceeding the industry average of just 66 percent.
“This past year, we continued to set ourselves apart by focusing on an amazing home loan experience and the way we value our customers,” said McDonnell. “It sounds cliché, but we truly see homebuyers as more than just numbers. Our team listens to people’s goals and concerns, and uses an ‘out of the box’ approach to make home financing work for each individual situation. As our competitors struggle to provide a dependable source of financing, we plan to double the number of homebuyers we serve in 2016.”
McDonnell credits his team’s success to its acute knowledge of lending guidelines and Movement Mortgage’s “reverse” system of underwriting and approving home loans upfront, before consumers start the home-buying process. This unique approach has helped solve a major problem in the mortgage industry—the fact that millions of potential homebuyers across the country sign contracts to buy a home, only to find out their loan application has been denied well into the process. This is because most banks and lenders issue “pre-approval” or “pre-qualification” letters based on the assumptions of a salesperson—not an actual underwriting approval—and then later issue a denial.
Homebuyers who are locked into a purchase agreement then find themselves in a desperate situation, as they are contractually obligated to buy a home, but are left scrambling to secure financing. Conversely, the McDonnell Group helps its clients attain financing approval as the first step, rather than later in the process. This fairly simple adjustment helps homebuyers avoid much of the confusion associated with the home loan process, while giving them greater peace of mind as they move ahead on one of the most important financial transactions of their lives.
“Consumers are largely unaware that the mortgage process is broken,” said McDonnell. “Last year, almost 75 percent of the loans we closed were “rescued” from other lenders who denied the loan application after the buyers were under contract and too far along to turn back. Instead of picking out new furniture and paint colors, they were faced with the reality they could be homeless. This is a careless approach to financing, but we aim to change that.”
With a proven track record and dedication to an extraordinary customer experience, the McDonnell Group is helping homebuyers avoid writing their own home loan horror story, and instead realize the dream of owning a home.
To learn more about the McDonnell Group, visit www.movement.com/lo/ryan-mcdonnell/ or call the McDonnell Group at 714-909-0113.
About The McDonnell Group
The McDonnell Group
Ryan McDonnell, Loan Officer
9140 Irvine Center Drive #100, Irvine CA 92618
CA-DOC922597 | Movement Mortgage, LLC is an Equal Housing Lender. NMLS ID# 39179 (http://www.nmlsconsumeraccess.org) 877-314-1499. Movement Mortgage, LLC is licensed by \’CA Department of Business Oversight under the California Residential Mortgage Lending Act\’ # 4131054. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. \’Movement Mortgage\’ is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company. 841 Seahawk Cir, Virginia Beach, VA 23452.