A LONGTIME MORTGAGE BANKER STEERS HER CLIENTS THROUGH AN EVER-CHANGING HOUSING MARKET

BY ERIK SCHONING PHOTOS BY AMANDA DOMENECH

Few industries have seen more significant changes over the last 20 years than the mortgage business, and Tricia Shevack has been present for every shift and turn. Today, the Westerleigh-based mortgage banker is guiding a new generation of clients through a quickly evolving market. And while much has changed in the field, her hands-on, customer driven approach has not.

Shevack entered the mortgage business in 2002.

At the time, she was working for a real estate developer. Her boss needed someone to oversee the mortgage department, and Shevack stepped up.

“When I first got into the business, I didn’t even know what a mortgage truly was,” Shevack said. “But I rolled up my sleeves, enrolled in a few courses, and learned the business. I absolutely fell in love with it.”

The appeal for Shevack was, and has always been, the joy of getting people into homes. Mortgages are a complex negotiation between buyers and banks. Buyers are constantly trying to balance what they want with what they can afford, and in today’s market, that balancing act is not always easy. But for Shevack, helping people get where they want to be has always made the job special.

“I change lives every day,” Shevack said. “As cheesy as it sounds, it’s true. I get to work with people on the biggest purchase of their lives. Now I have clients who are referring their children to me, which in a way is the biggest compliment in the world.”

In her 20-plus-year career, Shevack has witnessed the mortgage business undergo a monumental transformation. In the wake of the 2008 financial crisis and ensuing reforms, she saw a universal shift toward more conservative lending practices. That shift, coupled with inflation, surging home prices, limited supply, and high interest rates, have made threading the needle more arduous than ever.

But overcoming challenges has always been a part of Shevack’s business. Whether working with a first-time buyer, an investment buyer, or empty nesters looking to downgrade, she prides herself on providing white-glove service at every step of the journey.

“I’ve always had the mentality that the service I provide is a concierge service,” Shevack said. “I’m not an order taker. I’m not sitting here listening to what a borrower wants and then just giving it to them. What they get from me is unique. They’re going to get the explanation of every product and program: why it fits their dynamic, why it doesn’t. These conversations are difficult to have in a world where prices and rates are higher. But I never want somebody to be discouraged with the process.”

As a mortgage banker for New American Funding, Shevack has found in many ways the perfect vehicle for her hands-on approach. Shevack is the sole banker at her office, giving her full autonomy over all her clients. Because she works directly for the bank, she stays involved in the process even after her clients close on their homes, unlike mortgage lenders who facilitate the initial transaction and then fall out of the process entirely. New American Funding is able to meet its clients where they are: Shevack often refers her first-time buyers to down payment assistance programs and grants, and the bank itself offers fee-free refinancing if rates drop within the next five years.

While Shevack lends in all 50 states, she is very much a part of the Staten Island community. She is a member of the Chamber of Commerce, a board member for the Builder’s Industry Association of New York, a strategic partner of the Women’s Counsel of Realtors for the State of New Jersey, and a member of the Staten Island Economic Development Corporation. Because Shevack has been working in the community for so long, she is often able to draw on her network.

“These communities strengthen me immensely,” Shevack said. “I’m in the know of different rules and regulations happening here in New York City that affect future and current homeowners. I know what’s going on locally in the development of Staten Island. It’s also fantastic for networking. I’ve met some really influential business realtors through the Women’s Counsel that have helped me shed some light on how to better guide different clients.”

While the mortgage business is in constant flux, Shevack’s business philosophy has always been consistent. She thinks of herself as a throwback in that way.

“I pride myself on making sure my clients feel like they’re the only client I have at the moment,” Shevack said. “Just last night I had a client come into my office for a cup of coffee. We discussed all their options. We still offer that one-on-one personalized experience. You’re actually sitting down with a professional who understands your needs. The world is letting go of that, but I refuse to. I think there’s something behind that.”

New American Funding

651 Willowbrook Road, suite 102

917.755.0050 / newamericanfunding.com