Member Profile - Summer 2010 "A Chat with Lee Barroll First Community Mortgage

Lee Barroll - First Community Mortgage

I love to hear our Members tell their stories. Everyone has one, don't they? Lee is a loan officer with First Community Mortgage. But that's not what makes Lee special. What I like about Lee is that he is calm, organized, and dedicated. When he talks, you hear practicality mixed with confidence and determination. Lee is someone with whom you could build a trust relationship. And isn't that what we all look for in our business advisors and partners? 

Here's a bit of our conversation today over lunch at Cajun Steamer.

Marti: Lee, how long have you been in the mortgage business?

Lee: I've been in the mortgage industry since 1995, so 15 years.

Marti: What about Middle Tennessee? How long have you lived in this area?
Lee: I've lived here since 2005.
Marti: How do you build your referral network?
Lee: Gripping and grinning, Marti, and letting people know what I do.
Marti: To what organizations do you belong?
Lee: Besides the Cool Springs Chamber of Commerce, I am also active in Rotary and BNI.
Marti: Are you involved in social media marketing?
Lee: Yes, I am on Twitter, Facebook and LinkedIn.
Marti: I actually follow you on Twitter. How do you use Twitter?
Lee: I position myself as a resource of information. I tweet links to information that may help people educate themselves about the real estate industry and specifically mortgage lending.
Marti: Lee, what is the most challenging part of your work?
Lee: Changing guidelines. What worked yesterday doesn't necessarily work today.
Marti: Are consumers aware of this?
Lee: Yes, to some degree. Some have 'heard' that they can't qualify for a home loan and they certainly can, while others are sure that they will qualify and they won't.
Marti: So what advice do you give someone who is looking to finance a home?
Lee: Talk to a loan officer. Don't assume that you can or can't qualify for financing. There are so many variables that there is no 'cookie cutter' answer. A person's decision regarding a home mortgage or a home re-fi should be made based on the most current information.
Marti: What's the toughest part of your job?
Lee: There are easy calls to make and there are hard calls to make. I believe my job is making the hard calls. When you have news that the client or the client's realtor don't want to hear, that's not my favorite part of my job.
Marti: You’ve commented today that you have been very busy. To what do you attribute your success?
Lee: When things are going well, anyone can succeed. When money is tight, your product knowledge, your industry experience, your level of personal service and your skill set as a loan officer become much more important.
Marti: Who is your biggest competitor?
Lee: Everybody and nobody. Mortgages are a commodity. I get chosen because I made a connection. I am very client-oriented...working within the client's time frame and availability. If you are available on a Friday night at 5:00, I'm going to jump in my car and come to your house.
Marti: What is the philosophy of First Community Mortgage? How do you differentiate yourself in this noisy marketplace?
Lee: We pride ourselves on being able to close a loan quickly and on time, no matter how busy we get. Our clients don't get lost in the shuffle. We are a direct lender and we deal directly with Fannie and Freddie so there is no middle man. I think it is important to get face-to-face with people to go over the transaction in detail and be available to answer their questions, because typically this is the largest financial transaction most people will make.
Marti: It sounds like you may not have much leisure time, Lee. But when you do take a break what do you enjoy?
Lee: I like to spend time with my family. We are in the process of remodeling our house, so we have a lot of projects around the house.
Marti: Is there something you are 'crazy' about? Do you collect anything?
Lee: (chuckling) No, I don't collect anything, but I am quite a connoisseur of good coffee.
Marti: Now you're talking! What is your favorite?
Lee: I like a really dark roast. Italian roast is my favorite.
Marti: I don't know a thing about mortgage lending, but I can talk Italian roast with you all afternoon.
Lee: I'd love to Marti, but don't you think we both need to get back to work?