Forget Diamonds, the Purchase Market Is Forever

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You know what they say, "Refinances come and go, but purchases are forever."

Ryan Boney learned this lesson later in his career, and focused on the waxing and waning refinance market in lieu of cultivating partnerships to generate purchase leads. He's bounced back from that misstep to generate over $25 million more in volume than he did in 2015.

To stand out, Boney, a loan officer at University of Wisconsin Credit Union, places a premium on relationships, taking care to hold closings in person after communicating with business partners and clients primarily through technology. His expert handling of a delicate situation with a couple dissolving their marriage has the trademark of someone intensely focused on the people behind a transaction — which closed with a distinctly Midwestern flourish.

This is Boney's third appearance on the Top Producers list. Last year, he originated 400 loans for a combined dollar volume of approximately $74 million, ranking him No. 108 on the 2016 Top Producers list.

Tell us about your most creative or successful marketing strategy. How did you come up with the idea? What were the results?

Not very creative or original but successful: I try to have all of my closings at my branch office and at least do a meet and greet with all Realtors and borrowers involved to put faces to voices or emails. With today's technology you don't always get that and I think it goes a long way for everyone to meet each other face-to-face. Really, just trying to add a personal touch to every transaction and making sure to meet with all of your borrowers adds to that.

What's unique about the local market that you serve and what do you do to address those needs?

Milwaukee is primarily known as a blue-collar city, which it is, but we also have some very affluent areas around the Milwaukee area. This can lead to a diverse group of people that I'll run into on a daily basis. I want to make sure I'm able to handle any situation that I run across. I offer first-time home buying seminars on a monthly basis to help those in the beginning stages and I'm always available to help the experienced buyer with any questions they may have. Bottom line, I want to make sure the borrower is comfortable in their loan process from start to finish.

Tell us about an unusual or difficult loan scenario and what you did to ensure a successful closing.

I had a couple going through a divorce that weren't on best of terms. I spoke to one of the borrowers initially and explained the process of how we would need to go about everything. I was able to handle both of their transactions and walk them through everything step-by-step, getting one refinanced and closing on the other's purchase shortly thereafter. I received a signed card after closing signed by both, which I thought was pretty great considering they weren't on the best of terms when all started.

What do you know about the mortgage business now that you wished you knew when you started out?

I wish I would have focused more on creating Realtor partnerships earlier on in my career instead of focusing on refinances as much. Purchases will always be here but refinances will come and go.

Who is someone in your life, either personally or professionally, who helps contribute to your success?

My two children are the biggest contributors to my success. I want what's best for them and that motivates me to work harder to provide them with whatever they may need growing up.

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Originations Purchase Consumer lending Refinance Career moves Nonbank Marketing
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