These provide the robust foundations for surviving financial crises of all kinds
With over 26 years of experience as a high-level executive and a LEAN Underwriter, Lee Oller is among the most important parts of what made Merchants Capital grow in Chicago and across the Midwest.
As national vice president of Merchants Capital’s Chicago branch, Oller has closed more than 350 transactions in the loan platforms managed by the Federal Housing Administration and the Department of Housing and Urban Development.
Oller said that she owes her fundamentals to the guidance of an industry veteran she met in 1993.
“I fell into my first job out of college with an amazing mentor – Tom Clark – and learned the business from him,” Oller said. “Tom’s philosophy was that we shouldn’t just be a HUD lender, but also a HUD borrower. We developed and financed multifamily projects together in addition to our lending business. Tragically, Tom passed away almost a decade ago, but thankfully I was prepared to take over. This was just as the recession was hitting and conventional lenders were fleeing the market. … I was lucky to have had a few decades of training in every aspect of the business, from financing to management.”
These valuable first years taught her the central role that a personal touch plays in the success of a mortgage professional, Oller said.
“People who know me know that I’m very hands-on, and my professional relationships go beyond just the business transaction,” Oller said. “In the world of HUD lending, there are always multiple challenges that arise and problems to be solved. I have developed real expertise in all things HUD. I know the rules and have the experience to solve many different things that can and do go wrong along the way. I’m good at figuring out the solutions.”
The 2008-09 financial crisis was a defining moment for Oller’s career.
“The recession was sort of a ‘before and after’ event for me and for my group. Loan volumes increased enormously, and we just never looked back,” Oller said. “For those unfamiliar with HUD, it can seem like a difficult process. In reality, the HUD programs offer so many benefits. But knowing the rules is the key – there probably isn’t a HUD form that I haven’t had to fill out myself personally. This experience is invaluable as I help my clients navigate the HUD process.”
This gave her the valuable grounding in which she is now finding strength amidst the COVID-19 outbreak, Oller said.
“Merchants is an incredible institution with great leadership. Working for a bank has many advantages. I bring my HUD-lending expertise and my own great team to the mix, but Merchants offers so many additional programs and products that we can now offer to our clients,” Oller said. “Speaking for myself, I have never been happier, and given today’s pandemic climate, having the full support, expertise and resources of the organization has been invaluable. Merchants has met the challenges of this global pandemic with pragmatic solutions that provide assurance to our current and prospective customers that we are open for business.”
