"Work every loan like it was yours"
In an industry as competitive as mortgage lending, what sets top performers apart from the rest? For Colina Mortgage's top producer Rick Garcia, who originated $30 million in loan volume in 2022, it's all about the basics: studying and knowing guidelines, providing personalized attention to clients, and focusing on face-to-face interactions instead of relying solely on digital channels. But as Garcia looks to increase his volume by 10% this year, he also recognizes the need to adapt to a sales-driven market.
In this exclusive Q&A with Mortgage Professional America, Garcia shares his insights on success in the industry, his business philosophy, and what he's working on improving to take his business to the next level.
Mortgage Professional America: Can you give me an idea of how, when, and why you started the mortgage business?
Rick Garcia: I attained my license in August 2018. I had been selling new homes for over 20 years, and a good friend of mine, who was doing the majority of the loans for me, asked me about joining his team. I originally entertained the idea because I had kids at an age where I was missing a lot of activities. This gave me an opportunity to be flexible and spend family time. Now it's because I just enjoy the whole process.
MPA: What is your business philosophy, and where does it come from?
RG: Work every loan like it was yours. This is a lifetime change for most people. It needs to be given all the effort and attention you would give yourself.
MPA: What is the most memorable deal you've ever done?
RG: Too many, but just because it's on the forefront of today: I am working with a first-time buyer and family that call me Uncle Rick.
MPA: How do you set yourself apart from your competitors in the lending space?
RG: Study and know guidelines.
MPA: Can you share something about yourself that you're working on improving and how you think your business will be better/more productive/run more smoothly once you've accomplished your goal?
RG: Elementary! Back to the basic mindset in a more sales-driven market.
MPA: Can you give me any kind of quantification of your success in the past year, and what is your target loan volume this year?
RG: I had $30 million in volume, and I want to increase that this year by 10%
MPA: What is your market outlook for the mortgage space this year?
RG: I believe it will begin to moderate and become a little more consistent but not robust.
MPA: What advice would you have for any originator who is either starting in the business or has been in the industry for a long time and is having difficulty boosting their production?
RG: Back to a little of the basics and reinstate the little things that make a difference, with a flair from the present. All the social media potential, but reaching out personally with the phone. Writing personal letters compared to emails. Face to face. All important.
MPA: Where will we find you on Saturday at 10 a.m.? How do you unplug yourself from work?
RG: On call every other week, but when not, spending time watching my daughter play soccer for St. Edward's University, hanging with my wife and daughters, or camping on the coast in our RV.
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