Take a new, improved version of an RV, convert it into a comfortable, compact, accessible office, complete with a customer-friendly environment, computer equipment and an experienced home loan officer, and you have a national-award-winning Virginia Housing Development Authority Mobile Mortgage Office, or as it is more affectionately known: the "VHDA Loanmobile."

The first VHDA Mobile Mortgage Office began operating in 1996 to provide home buyer service to the underserved populations of Southwest Virginia. That initiative was so successful, in 1999 VHDA launched its second Mobile Mortgage Office, which serves the Southside, Northern Neck and Eastern Shore areas of Virginia. During approximately three years, the two loanmobiles have generated more than 350 low-interest home loans, in areas where basically no low-interest VHDA home loans were being offered previously.

How It All Got Started

It's difficult to believe that a few years ago the Mobile Mortgage Office existed as little more than an idea suggested during a VHDA marketing meeting. As Richard Taylor, one member of the VHDA meeting, recalls, "We were all sitting around brainstorming ideas about how to create an outreach program for underserved potential home buyers in isolated areas of Virginia.

"We came to the conclusion the most efficient way to get the VHDA message to the people would be to get an 'office on wheels,' and provide easily accessible information to prospective rural home buyers to educate residents about financing decent, affordable homes that they previously thought were not available to them," said Taylor.

Eventually, Charles L. Krum, Jr., a member of the VHDA Board of Commissioners from the Southwest area, further explored the idea of the Mobile Mortgage Office, and urged the authority to invest in a pilot program.

Soon, a recreational vehicle was rented and renovated, a loan origination officer was contracted, and a weekly schedule of Mobile Mortgage Office visits was set up for Wal-Marts, municipal parking lots and other common gathering places. The visits were advertised in local papers as "free walk-in appointments for interested home buyers."

According to Amy Schwartz, direct originations program manager of the Mobile Mortgage Office, "The pilot program was originally scheduled for approximately eight months. After five months, it was apparent the loanmobile was successful in producing low-interest home loans. The decision was made to order a permanent, fully equipped VHDA Mobile Mortgage Van to permanently serve the similarly underserved Southwest area of Virginia. Eventually, we launched a second Mobile Mortgage Office to cover the Southside, Northern Neck and Eastern Shore area."

VHDA - Helping People Buy Homes Who Never Thought They Could

One of the key people helping to meet the needs of those seeking affordable housing is VHDA's Southside Mobile Mortgage Office driver, loan originator, credit counselor and 20-year mortgage professional, Joan Ford.

"The van is much more than just an RV with a loan officer that helps finance home loans," said Ford.

"We do more than just produce home loans travelling around all these rural areas in the VHDA Mobile Mortgage Office. This office is an educational tool as well as a marketing tool. Loan originators do everything from helping people reestablish their credit histories, to counseling them on how to repair credit problems, to prequalifying them for home loans, and setting them up for our Home Education Classes," she said.

Ford adds that some clients have never filled out a credit application or gone through the process of applying for a loan before. She stresses it has nothing to do with intelligence level. Most of her clients just never thought they could qualify for a home, so they never even tried to go through the process.

"This is a foreign activity for them and some folks need to be walked through the process the way you or I would if we'd never bought a car before," said Ford.

"We spend a lot of time with most of our customers explaining to them about credit checks and consolidating debt. Some of them may need to take some time and clean up their credit histories," said Ford. "We advise them about how to go about doing that and we will work with them for as long as it takes until their credit is up to speed. Sometimes that takes a year or two, but we will work with them as long as it takes. We get to know some of our customers very well and they are grateful we are willing to take the time to help them out when no one else will," Ford said.

As the only two mortgage loan vans in the United States serving rural, low-to-moderate-income Virginia citizens seeking low-interest loans, the mission of these VHDA vans is the same as the authority's - to provide safe, decent, affordable housing to Virginians who otherwise would be unable to obtain it.

As Ford simply puts it, "Our job is to put as many people in houses as we can. After all, that's the whole point to getting these vans on the road to rural communities ... to serve all of Virginia, not just the densely populated parts of metropolitan Virginia. Most of the time our borrowers don't have any problem making a house payment; the difficulty is in saving for a downpayment. Sometimes that's where we can help them most.

"VHDA also offers financing for repeat home buyers, too. We have a number of programs attractive to buyers wanting to move up or into a different living situation. We are equipped to serve home buyers seeking a new home to fit their needs," she said.

Building Trust and Fufilling Dreams

Everyone involved in the success of the Mobile Mortgage Office agrees the key element that has made the project so prosperous and that will continue to is the trust level the originators have built with their clients.

Southwest Mobile Mortgage Office Loan Originator Michael Locking said, "One of the most important things I do each day is make my customers feel relaxed when they come into the office."

Locking, who after more than 32 years in the United States and 30 years in the banking-related business still hasn't lost his soft, lilting Yorkshire accent from England, added, "We bring the kids in, give them a candy, sit and talk a bit with mom and dad and get to know these people. They don't hold back. We make them feel at ease, look at them as a friend and really try to help them. That's what they're looking for ... help. And that's what we try to give them."

Locking said he works to find the best VHDA loan program to suit his customers. "VHDA has a variety of programs that will fit for many of our customers' needs and I will work with a family until we find a loan program that will work for them and will fit their budgets as well. We want them to be happy in a new home, but it's no good if it's going to break the bank. So sometimes that takes a year or two. But that's all right, we'll stay with them until everything works out. They trust us to help them and that's what we're here for," he said.

Both Ford and Locking agree that trust-building leads to lasting partnerships and customer satisfaction. "Without the human approach we take with each of our customers this program would never work as well as it does," said Ford.

"Basically, we help people have faith in themselves and confidence that they can own their own home for the first time in their lives. Maybe this is the first time someone has taken the time to believe in them and follow through with them, no matter how long it takes. Someone believes in their dream and is willing to help them make it come true for the first time in their lives. That takes a lot of trust and a true partnership," she added.

It also explains why Joan and Michael are so passionate about their work ... and it shows.

Interested?

For further information about the VHDA Mobile Mortgage Office visit scheduled nearest you, for Southwest Virginia (located in Wytheville) call: 1-800-447-5145 or call the VHDA in Richmond at: 1-800-227-8342. You may also visit our Web site at: http://www.vhda.com/SF/singlefam.asp. Cooperative Living may be visited online http://www.co-opliving.com.