When Mary Catchur opened her Tampa Palms-based Marimark Mortgage business in 2006, the housing market in the Tampa Bay area was at a high point in terms of prices and sales. The ensuing decline in prices and sales that imploded the industry in 2008-10 resulted in new regulations requiring more scrutiny by lenders and disclosure to borrowers.

While some mortgage professionals may chafe at the increased oversight and additional rules, Catchur says embracing their intent — ensuring that homebuyers make informed decisions — provides a way to stand out among mortgage brokers.

“We all have the same products and very similar rates,” Catchur says. “What differentiates me and my business from other people in the industry is our level of service and our commitment to educating the homebuyer.”

Even with all of the new regulations intended to improve the level of service extended for homebuyers, Catchur encounters many who say they haven’t benefitted. 

“I get people calling me all the time that have talked to three or four other lenders, and even at that point, they don’t have a clue whether they’ve been qualified for an FHA mortgage, whether it has mortgage insurance on it, or the fees associated with the rates,” she says. “That’s a real issue in the industry right now and that’s why we keep getting more and more compliance (rules) and guidelines. But, to me, all of those things that people fill out do nothing to take the place of what is really required, which is explaining to the borrower exactly what they’re doing, what product they’re applying for and what their alternatives are to that product.”

One way that Catchur responds to this problem is with digital media. She creates online videos, writes a blog and publishes a newsletter she circulates online to inform consumers about the mortgage marketplace, from the rules governing it to trends within the industry nationwide and in the Tampa Bay area. Her social media footprint covers everything from Facebook to Pinterest and it can all be accessed from her website, Marimark.com.

Topics that Catchur covers include so-called piggyback mortgages (using two loans to buy a home), the different factors influencing a loan interest rate and various types of mortgages and tax breaks associated with real estate transactions.

The internet also allows Catchur to conduct business with customers, both local and from around the world, who are looking to move to Florida or the other states in which she is licensed to do business, such as Virginia and her home state of Pennsylvania. She moved to Tampa from the Keystone State in 1979 to attend the University of South Florida (USF). She earned both a Bachelor of Arts degree in French and a Bachelor of Science degree in Accounting from USF.

Catchur says her office in the Tampa Palms Professional Center, off Commerce Park Blvd. (just north and west of the intersection of Bruce B. Downs {BBD} Blvd. and Tampa Palms Blvd.), puts her at the center of many long-distance inquiries.

“I get a lot of people relocating here who find me online,” she says.

Catchur adds that she works hard from the beginning of a client relationship so that in the end, everyone leaves the closing table happy. Just as she keeps her customers fully informed about their options, she expects the same level of disclosure in return.

“From day one, I take a very thorough application to determine what their exact needs are and what unusual circumstances they might have, such as an unusual employment situation or way of being paid,” says Catchur, who lives in New Tampa.

Getting The Financial Picture

She cites her 20-year background as a Certified Public Accountant (CPA) as providing the analytical tools needed to derive meaningful information from financial documents provided by her customers, many of whom collect their earnings in ways other than a weekly paycheck, such as entrepreneurs, freelance professionals and executives with compensation packages.

In an economy where many people are working as an independent contractor rather than as an employee, it is not an unusual situation. And, when you add in the regulatory oversight regarding things like financial gifts, the reporting task becomes even more complex, making financial knowledge and experience even more useful to successfully close a deal.

“You have to understand the whole picture before you decide which product to apply for,” says Catchur.

One case where Catchur’s expertise made it possible for a homebuyer to acquire a loan is that of Donnie Welsch, a subcontracted salesperson for a manufactured home company. He was looking forward to moving into a home in Wesley Chapel’s Lexington Oaks community with his wife and 18-month-old son, when the financing through a national bank fell through. He credits Catchur’s expertise for being able to get financing when the situation looked grim.

“Mary understood the guidelines and she was successful in getting it done through Freddie Mac (aka the Federal Home Loan Mortgage Corp., a federal government-sponsored enterprise which purchases loans from vendors to replenish their supply of funds so that they can make more mortgage loans to other borrowers) because she understood the situation and how to present my file to the underwriters,” says Welsch. “Now, me and my family have the house that we were desiring. If someone is looking to get a loan closed I would definitely recommend her.”

According to Catchur, that closing will likely happen sooner rather than later.

“We close most our loans in 30 days or less,” she says.

During the time the loan is being processed, customers and other interested parties are kept informed with automated responses that are generated as the steps of the transaction are initiated and completed, such as when a home appraisal has been ordered.

“We keep everybody informed every step of the way,” Catchur says.

Catchur offers a complete line of financing options, such as conventional loans, Federal Housing Administration (FHA) loans, loans through the Veterans Administration (VA) and U.S. Department of Agriculture (USDA), as well as “Jumbo” loans (a home loan of more than $424,100 for one unit). One new financial product Catchur says she is able to offer is a one-percent-down loan.

An emerging trend in the mortgage market is that many people who have a financial blemish such as a previous bankruptcy, foreclosure or short sale are interested in buying a home. Catchur says she’s willing to take a look at their situation.

“A lot of the waiting periods with those things are at a point where people can do things like buy a home,” she says.

Catchur, who is the treasurer for the Florida Association of Mortgage Professionals, says one reason she is successful is that she gets a lot of referrals and repeat customers. She credits that to applying something she learned while working in her father’s electrical company in Scranton, PA, to her own business.

“You treat people right and you educate them so they know what they’re doing,” she says.

Marimark Mortgage is located at 5327 Primrose Lake Cir. For more info, visit MarimarkMortgage.com, follow Mary on Twitter via @MarimarkM, view her Instagram account @marimarkm, or call 910-8020. 

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