How Andrew Marquis Wins in Mortgage Lending

Bridget: Welcome to another edition of CCM Talks. I am Bridget Linton, and I am so honored to be sitting here with the one and only Andrew Marquis, our senior vice president here at CrossCountry Mortgage. Andrew, so good to see you as always.  

Andrew: So great to see you.  

Bridget: Thanks for taking the time to chat with me. Just about how successful and great you are. 

Andrew: Always. 

Bridget: This is your time to brag. 

Andrew: I feel so great about myself.  

Bridget: Yes, yes, good, that’s what I’m here to do. To be your hype woman.  

Andrew: Okay.  

Bridget: Yeah, that’s what it is. I mean, you’ve been at this for many years, and you’re a top originator, not just here at CrossCountry Mortgage, but in the entire nation. So can you talk about some of your habits and mindset that separates you from the rest?  

Andrew: Yeah. So I think in our industry, the unique thing about it is we all run our own business. Right? So it’s not, where we have a boss or punching in, like some of my friends say, we really have to be self-motivated and sort of self-accountable. Right?  

So good habits, time blocking, really having those habits each day. And those focuses where you spend your time effectively is just so critical in our industry. And I think that’s where you get to that 90/10 or 80/20 scenario where 10% or 20% of the people are doing 90% or, you know, 80% of the business, right? So I think that’s a critical thing to have those good habits. 

Bridget: And you remain at the top for, what, like 20 something years now?  

Andrew: Like 20, over 23 years. I mean, it’s a long time.  

Bridget: No. It’s so impressive. And you, you continue to grow and be successful. So how do you stay so humble and hungry? 

Andrew: Yeah. So I think it’s, it’s sort of like an embedded thing within me. It’s like this competitive nature. And I know we all in this industry, the sales have that competitive fire. But I think it’s just sort of like embedded in my character that it’s it’s not necessarily like a money thing, but it’s like we always want to get better and always be improving. And it’s sort of like, that’s our reason for being. Right? So we have to just keep driving forward. 

Bridget: And you do, and you do so well and you continue to grow and you be successful on your own, but you also love to help others, which is amazing and it’s so inspiring. And you’re known for educating your clients. So why is that so important for you?  

Andrew: Yeah. So I mean, I’m sort of like an old school loan officer. I was sitting down with some folks from Florida for lunch, and they’re like, like Andrew are you in, are you in Encompass? Are you using … and I’m like, I’m using a calculator. I’m in Encompass. Like I’m not just some like mass marketer. Like I’m really a loan officer at heart.  

And what I really enjoy is picking the product, looking at the guidelines, setting up the customer to succeed, whether it’s a first-time purchase, an upgrade, a downsize, and really being strategic and I think helping others, it’s going to come back to you tenfold. Right?  

So when you spend your time helping someone else, taking a few minutes out to explain to them, you improve them, and then again, it reflects right back on you. So I think it’s really important to give almost more than we get. Right?  

Bridget: And this industry is constantly changing and evolving to stay on top of your game and make sure that others know what’s going on too, is very important. In this industry also it’s not, you make it look easy, but I know it’s not. There’s a lot of challenges that come with it. So what’s your approach when there’s a deal that just seems impossible?  

Andrew: Yeah, I mean, the way I look at it, it’s a great question. So we get deals that hit a roadblock, right? And the way I look at it is there’s always a solution. Right? So it’s it’s to me it’s not a problem. It’s where are we going from here. Right? Are we switching products? Do we have to resell a different rate. Do we have to add a non-occupant co-borrower. And I think like we talk about CCM, we have so many products here, especially our Non-QM, that it’s sort of like a net underneath everything that can catch all that fallout you know. 

So like I had a deal the other day where they bought a house they wanted to cash out and I thought it was six months seasoning on a cash-out convention. It’s actually 12 months. So immediately I reached out to Pete and Ashley on the Non-QM team, and they said, oh, we’ll do that loan. And they have their platinum pricing which has a little bit better rates very close to conventional so that we could close that deal. 

So I think like you really have to look at problems more like what’s the solution. Right? And you have to kind of be confident in that because I find that with a problem 99, 999 times out of a thousand, there’s a solution, right? There’s maybe that one that you can’t solve. But if in a year you’re doing it’s maybe one, all the other ones have a, they have a solution in place. 

Bridget: When I think also having that positive mindset, a lot of times when people hit a roadblock or they hit a challenge, it’s panic mode. But for you, it seems like you have that positive mindset. Let’s figure out the solution. And it’s amazing.  

Andrew: Yeah. Take a step back. Slow down. Think it through, and then explain it to the customer. Hey, you know, I had one I had an FHA loan that didn’t meet self-sufficiency. Right? And the client was all freaked out. We couldn’t get the rent to work on the appraisal. And I said, well, Freddie Mac has a 5% down conventional loan for your three family doesn’t need self-sufficiency, so it’s really about resetting it. And then the client says, well, maybe I refinance in six months. 

And so if you really educate people what’s going on and focus more on the solution than the problem here, wow, what a great loan officer. And you can turn a really bad situation into like the hero. And then they’re referring you or the realtor is referring you.  

Bridget: And I love that you said just being upfront and honest too. Honesty is always the best policy. And so if you’re upfront about it, it makes it so much easier. So not only are you producing your own success, you’re educating others, but you also give back. So can you talk about how you’ve created this culture of giving back and why it’s so important?  

Andrew: Yeah. So I mean, giving back comes from like training employees, like you were talking about being a mentor to people, but also during Covid, we started giving back to the Friends of Boston homeless. So for every loan we closed, we were giving, I forget what the number was $50-100. And I know in the first couple of years we gave over $100,000. I felt like our industry was seeing so much success from Covid, and a lot of industries were like, really dying, right? And so I felt like we had to sort of like give back because we were so fortunate during that time. 

Bridget: And I do think it’s a culture just within all of CrossCountry Mortgage is giving back. You know, trying to help others. And we want to help our own team too. So we do have a lot of great products and tools. What’s one tool or tactic that’s been a game changer for you and your team?  

Andrew: I’d say the Non-QM. So I would say like from a product standpoint, the Non-QM here is just so awesome because it really, like I was saying before, is sort of like a net below everything that catches everything. And so whether it’s other lender fall out, our own product fall out or a unique circumstance, I think that there’s so many options within that, that platform to close a loan. And a lot of those loans close on an exception. Right? So like I think it’s like 35% of them have an exception, the guidelines to close. So I think that’s probably our biggest standout product here. 

Bridget: And yeah it’s amazing. And again this industry keeps changing. And CCM always wants to stay on top of the game. Let’s be the first to have these products and tools for everybody. So for you how do you see the future of mortgage lending continuing to evolve, let’s say, in the next five years?  

Andrew: Yeah. Well AI, right? So, so I think like, you know, you hit on a couple of points that rang a bell for me. Is like when I look at Ron, he’s very forward-thinking. He’s always looking like, what do we need to do next? And I know, like a lot of it is with the loan servicing and the customer retention, which, JJ and Gavin were touching on. And I think that’s a critical thing.  

But I think with the AI, it’s just going to change things a lot. And it’s hard to say how it’s going to change things. Right? Like it educates borrowers a lot more, but like, how is it going to help us? You know, I think AI is going to build a lot of efficiencies. So how can we how can we, you know, use those efficiencies, right, to benefit our practice and help our customers more quickly. So we’ll see. I mean, it’s always changing, right?  

Bridget: It’s like so cool. But it’s also scary.  

Andrew: It’s a little scary.  

Bridget: The fact that you can type into whatever ChatGPT and ask a question. And it can get back to you immediately. I’m like, we don’t need brains anymore almost.  

Andrew: Yes, yes.  

Bridget: Yeah. So it, it is going to continue to change. And for you again like you’re still good at educating and being there for people. You’re a great leader here in the company. If you could describe your leadership philosophy in one sentence, what would it be? 

Andrew: I would say humble. I would say humble and quiet and lead by action is what I would say. You know, I think, you know, in our industry, like, I’m no more successful than the next person. I always say that it’s like, I’m not really like, you know, doing anything different. I say this to be, I say it’s like, not like I’m going out to some restaurant that you’re not going to, or I’m drinking some kind of wine that you’re not, or whatever it might be. And we’re all on this planet for the same purpose. And yes, I’ve been blessed. Yes, my numbers have been a little bit higher, maybe, but I think that we all have that same opportunity and we’re all successful in our own right. And so I think leading by action and being a good person, I think is, is the right way to be here. 

Bridget: I love that, and it just amazes me how humble you remain because you are, you are so successful. You would never know it by meeting you because you treat everyone the exact same way and it’s, it’s very inspiring. So thank you for all you do at CrossCountry Mortgage. You continue to be successful. We’re so fortunate to have you. Appreciate you chatting today.  

Andrew: Thank you so much, Bridget. I appreciate the time. 

Bridget: Of course. If you’d like to learn more about a career at CrossCountry Mortgage, or maybe some of the products that we discussed today, make sure you head to CCM.com.