Debra Shultz

Senior Vice President of Mortgage Lending at Guaranteed Rate , Inc.

Location:
3940 N. Ravenswood, Chicago, Illinois, United States
Company:
Guaranteed Rate , Inc.
HQ Phone:
(773) 290-0358
Wrong Debra Shultz?

Last Updated 11/28/2017

General Information

Employment History

Senior Vice President of Mortgage Lending  - Rate

Managing Director  - Manhattan Mortgage Corporation

Education

Bachelor's Degree  - Business Administration & Marketing , Hofstra University

Affiliations

Certified Mortgage Advisor  - CMPS Institute of Michigan

Web References  

http://www.rutenbergnyc.com/blog/2015/09/14/changing-the-game-rising-mortgage-rates-speed-up-new-york-city-sales/

The increase in rates was expected, said Debra Shultz, senior vice president of mortgage lending at Guaranteed Rate.
"Our management has been preparing us for months and months and months now that rates are going to go up," Shultz said. They've been saying to "'get out there and work on purchases, rates are not going to be down for much longer.' This has been going on for at least three months." In Manhattan, sources concurred that rising rates would even out what has been an "insane" seller's market during the past few months, Shultz said. Shultz said with rising rates, some buyers may back off or wait longer to move, since "higher rates mean higher mortgage payments."

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LLNYC » Getting around the all-cash deal

The other option, cash-out refinancing, is far less common for two reasons: The mortgage generally carries a high interest rate and the buyer is more likely to receive a smaller loan amount, said Debra Shultz, senior vice president of mortgage lending at Guaranteed Rate.

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Fannie Mae’s new deposit guidelines to speed mortgage lending process, experts say | Rothman and Tobin, Real Estate Lawyers

The change is small, noted Debra Schultz, senior vice president of mortgage lending at Guaranteed Rate, but she estimated the new rule would speed up mortgage loan processing by 10 percent.
"[This] cuts down on the paperwork in some matter," she said.

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