Riding the waves of the booming mortgage market

Team Member Spotlight

BEHIND THE SCENES:

As a manager of Mortgage Closing, Monica Ptomey is knee-deep in the nation’s booming housing market, and she loves the challenges that this presents.

BY BRIDGET McCREA

Much of the national housing market is hot right now, and Monica Ptomey is deep in the throes of it. As manager of mortgage closing for American Airlines Federal Credit Union, she leads a team of 15 team members who work to help Credit Union members get into the homes of their dreams. Making that happen has become more difficult over the last year, with the global pandemic, historically low interest rates and/or high demand for homes making the situation more challenging.

Monica started working for American Airlines Credit Union as a part-time Member Service Representative at the Flight Academy Branch. She stayed in that position for two years and then joined the Mortgage department as a closer. “I was a closer for about 2 1/2 years before accepting the mortgage closing supervisor position,” said Monica, who was later promoted to manager of Mortgage Closing.

Getting the docs processed on time
Today, Monica is responsible for the day-to-day process of ensuring that her staff gets all loan documents prepared correctly for closing, and in a way that meets the required closing date. “This includes any situations that may come up prior to closing or even at the last minute,” Monica said, who manages a steady stream of emails from staff, title companies and the attorneys that are preparing the documents.

To keep up with the high demand for home mortgages right now, Monica has “borrowed” team members from other departments, as well as hire temporary employees. “The volume is our biggest challenge,” she said. She is now in the process of hiring several new, permanent team members.

Managing the craziness of the mortgage world
Looking ahead, Monica said she’s looking forward to a time when employees can safely return to the office on a more regular basis. And, with the hiring of additional staff, they’ll also be able to close more loans within a shorter processing time.

Operating during a booming housing market is exciting. Monica said she enjoys her career and the new opportunities that it brings. “I enjoy what I do every day,” she said. “Even with the craziness that the mortgage world brings.”

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