We are joined this week by Whitley Cooper, a nearly lifelong mortgage expert with the results to back it up.

 Whitley grew up in the business, and remembers her mom, herself a broker, jotting down loan applications on a napkin during long car trips. A detour into broadcast journalism led her back into mortgage, where she has found her niche. In this episode, Whitley and Marc Summers discuss her methodical approach, the importance of diversity, and how to make homeownership more accessible. 

Though she was familiar with the mortgage industry from a young age, Whitley took her time to explore her options. When she started her family after college, going into brokerage just made sense. Now, she is a successful broker/owner who also makes time to serve her community as the Association of Independent Mortgage Brokers Chairperson of Black Homeownership. 

When it comes to process, Whitley is systematic, employing an LOA to help calculate income and other financials. What’s really important, she says, is using that time to build rapport and establish meaningful relationships with clients. She highlights the importance of keeping your realtors close, saying “if it came from a realtor, it always gets back to that realtor.” The personal touch is key to Ms. Cooper’s approach – she stays in touch with clients through Facebook, sending handwritten cards and well-wishes for meaningful life events. 

Whitley also serves as chairperson of the Black Homeownership Committee, a role she takes incredibly seriously. She says “It’s a chance to reduce the black homeownership gap, not just at the local level but at the national level.” She also stresses the necessity of creating a welcoming environment for “those who don’t look like you” – and the impact it can have on your profits. Whitley is a passionate mortgage education advocate, citing the need for initiatives like SPARK. “Capital is just one side,” she says. ”SPARK provides the grant, but also the education and mentorship to create lasting and sustainable business.” 

The pair also discuss the current rate environment and tips for self-management.  Discussing rising rates and the potential to panic, Whitley demonstrates the resilience that has contributed to her success, saying – “I almost got caught up in it. I had to pick myself up, dust off my shoulders, and remind myself what I was about.” 

Times:

1:40 – Background

4:50 – Process and Outreach

7:22 – Post-closing strategy

9:43 – Black Homeownership Committee Appointment

12:50 – Importance of Diversity

17:49 – Education Cycle

22:40 – Broker Community

25:00 – Rate Environment

This Episode Is Sponsored By REMN Wholesale