By ASHLEY BUNKER
The Progress
The COVID-19 pandemic has brought change into how people do business in nearly every industry. From grocery shopping, to looking at potential homes to buy, and even how you secure your loans for these purchases. Despite the disruption and confusion, local mortgage brokers Moapa Valley Mortgage has stayed in operation and has been helping customers.
Moapa Valley Mortgage was founded two and a half years ago by Logandale resident Angie Kelson. Kelson has worked in the mortgage industry for the past thirteen years. But she decided to open her own business after seeing a need in the valley for a broader variety of mortgage products.
Kelson said that she is committed to aiding clients in finding the perfect mortgage product that fits their needs. And she has been doing that despite the COVID-19 pandemic
“Business has been as usual,” said Kelson, “Refinances are on the up due to the low interest rates, and homes are still selling.”
Because of the state’s mandatory business closures, everything has been moved to an online platform, Kelson said.
“Everything can be completed online,” she said. “Lenders and clients can communicate in a secure portal. It has actually been more efficient as it eliminates the third-party participation,”
For example, some information in an application would normally be verified by the IRS. But with the temporary closure of that agency, clients can now access the needed information via the IRS website and submit it personally on the application. Working from a virtual office also enables a 24/7 availability for clients.
A possible reason that the mortgage industry has remained level during this pandemic is that, since the 2008 housing market crash, mortgage lenders have become much more conservative, Kelson said. The issue at hand is not the business of lending money, but rather the ability to go to work.
“Employment verification is typically done 10 days before closing, but now it is required to be completed at 24 hours before closing,” said Kelson.
That is probably the most “stressful” change so far due to the new time constraints, Kelson said.
Moapa Valley Mortgage may be contacted by phone at 702-755-3322.
