Few people would have anything good to say about the mortgage meltdown of the last decade. But Tina Christein, branch manager of Churchill Mortgage in Chattanooga, can see the silver lining on that once ominous cloud that hung over the industry.
To Christein, the meltdown led to the creation of a stronger, more ethical mortgage industry. And while she laments the crisis and the resulting fallout, she’s pleased with how the industry weathered the storm and emerged worthy of another chance.
Christein is especially pleased with the new licensing requirements. “You have to have a license to cut hair, so why wouldn’t you need to be licensed to help someone make what will likely be the biggest purchase of their life?” she says.
She also likes the new education stipulations, as they produce knowledgable loan officers armed with current information. “Loan officers have to take a 20-hour course before receiving their license,” she says, “and we take eight hours of continuing education each year. Before, anyone could walk through the door of a mortgage company thinking they could originate and close loans.”
Christein is more than a mouthpiece for her profession; she’s a hands-on advocate. As 2014 president of the newly launched Chattanooga Mortgage Bankers Association (CMBA), she works tirelessly to bring value to the members of the association. “We keep up with the legislation that affects our industry, and we invite sales coaches to speak at our luncheons,” she says. “The people who are left in this industry need to stick together and help each other out.”
Through her role as president of the CMBA, Christein also helps her members give back to the local community. For example, the association’s golf tournament on Oct. 9 raised money for the Chattanooga Regional Homeless Coalition, and an upcoming Angel Tree Drive will encourage even more charitable giving.
Plus, through Churchill Mortgage, Christein and her team don’t simply ensure their clients borrow the money they need to purchase a home, they also coach them on how to pay it off. “Buying a home is still the American Dream,” she says, “so we should be teaching kids in school how to pay off a house.”
Educating buyers is a big part of what Christein does. Instead of saying “no” when applicants aren’t in a position to purchase a home, she works with them to resolve their issues. “It’s tough to say ‘no,’ but some people have credit issues that will prevent them from purchasing a home,” she says. “We’ll work with them to get them ready to buy a home six months or a year down the road.”
All of these efforts have renewed the pride Christein feels in her profession. “We’re educated, and we’re trying to help people,” she says, “we’re not just out to get people to refinance their home every two years just to get money out of their property.”
When loan officers strive to do good, the payoff far exceeds the numbers on the check the mortgage company receives, Christein says. She shares a recent story as an example:
“Two months ago, we helped a client whose wife had passed away six months earlier. He was raising his kids on his own, including one with cerebral palsy, and they were living in the home in which the wife and mother had died,” she says. “He wasn’t sure he was in a position to buy a home, and it took work to get him to that point, but I’ll never forget the day we sat at the closing table and he signed the papers. His kids were able to decorate their bedrooms, pick new paint for their walls, and start fresh.”
Christein has plenty of opportunities to author similar stories. As branch manager, she not only originates loans, she also supports her loan officers by keeping them up-to-date and motivated, assisting with sales, and answering their questions. She describes herself as a very hands-on manager who helps her staff members structure loans and then guides them through the process to the closing table. “I don’t just sit here with my feet on my desk barking out orders,” she says, laughing.
Christein grew up in Warren, Mich. Her first foray into the industry in which she would someday stake her career came when she was a senior at a Michigan high school and did clerical work for a mortgage company. After graduation, she moved with her family to Ft. Lauderdale, Fla., and then to Chattanooga, Tenn., where she helped to manage an apartment complex for seven years.
While Christein enjoyed working in the apartment business, she longed for a career that offered opportunities for advancement, so when a friend of a friend offered her work as a loan originator at mortgage company, she jumped in feet first and began to learn the business.
That was 1994. One year, later, she joined American Acceptance Mortgage, where she not only originated loans but also managed the company’s wholesale program and wore other sundry hats. She worked at the company until 2010, when she switched to Brentwood, Tenn.-based Churchill Mortgage, which was opening its first branch in the Chattanooga area after being in business 18 years.
“I was close to signing on the dotted line with another company, but after meeting with Mike Hardwick, the owner of Churchill, I decided to come here instead. I was impressed with the company’s values,” she says. “It’s a large business, but it has a family-like atmosphere. Plus, they take good care of their employees and provide them with the support they need.”
Churchill is also the only mortgage company endorsed by Dave Ramsey.
Although being branch manager has its demands, Christein is able to enjoy life with her three dogs and one cat, eating at new restaurants, and traveling. But she’s never detached from her phone. “I need to know what’s going on at the office,” she says before admitting, with a smile, to “being somewhat of a control freak.”
Christein is also keen to turn any interaction into a networking opportunity. “I’ll talk with anybody. I obtained a loan for my pharmacist,” she says, laughing again.
The reasons for her levity are clear: she loves her work, even in an industry with a history of ominous clouds forming overhead. “I get up each day and help people achieve the American Dream,” she says. “That’s always a pleasure.”