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Speech Transcript

Unknown Speaker  0:00  

Hey, this is Melanie Gunny. And if you really want to learn how to level up your life, you should be listening to the time to shine. Today podcast with my great friend, Scott Ferguson.

Unknown Speaker  0:11  

Hey Tom to sign today podcast. Marcy squatted is Scott Ferguson. And today I get to have a conversation with somebody that helps me out with we’ll just call it my day job. I’ve been a real estate agent for 22 years and Malini Gunny and has been a key integral part of my business as one of my preferred mortgage lenders. And she’s going to come on and talk to us a little bit about, you know, purchasing or refinancing a home during this COVID crisis and beyond. She’s a really big proponent of not really worrying so much and focusing on the process and just always knowing that this too shall pass. So without further ado, break out your notebooks because she’s going to drop some serious knowledge nuggets regarding mortgages and life in general. So without further ado, here’s my good friend Mulvaney gunning.

Unknown Speaker  1:15  

Hey, time to shine today varsity squad Scott Ferguson and I got a real treat. You guys hear me interview a lot of people that I maybe only know virtually, or that are coaches that I strategically aligned with but this person is someone that I’ve did business with actually press flash and Chuck hands and networked with here in South Florida is a lot of you know that my day job if you will, is a real estate agent here in South Florida. Miss Malini gunning who is a fantastic Rockstar mortgage broker is going to come on and drop some knowledge nuggets on you especially during this what is it 950 a day of quarantine but she’s gonna kind of come on and and be truthful with you What’s going on in the mortgage side of things in the world, but also tell you that you know, everything’s finite and what we’re going to do to kind of push through it and give you great now as I guess, because by the time this podcast kind of rolls out, we’re going to be kind of coming out of it, hopefully. And then that way you can kind of see, you know, how to move forward with your life from maybe a mortgage standpoint, whether you live here in South Florida, or other states as well. So, Malini we did a few deals together. She’s very, very, very veteran friendly. She’s a wife, mother friend. She’s a former golf professional who happens to write mortgages on a full time basis. So Malini, please come on, and introduce yourself but first, tell us your favorite color. And why.

Unknown Speaker  2:47  

Pink it’s cheery.

Unknown Speaker  2:49  

Pink is here a I love it. I love it. And pink fits you perfect. She isn’t here. He’s got a smile on her face. No matter what the situation she’s she’s fantastic again. With all full disclosure, again, we are friends and we’ve did business together. So she’s she’s fantastic. She does a lot for the community here in South Florida. So maleny take us back to your origins a little bit about where you started getting into singing, I’m going to be a mortgage broker full time can be a damn good one at that.

Unknown Speaker  3:17  

Yeah, so kind of a crazy story. So when back in, my son was born in Oh, two, I was still in the golf business. And I started getting involved in real estate mortgages. It was super hot time at that time, but money, right? Pretty much. So it was like a friend of mine. We were buying and flipping houses and she’s like, oh, if you get involved in mortgages, we can have the money side covered, and we can have the real estate side covered. So we if I did and I was a mortgage broker then was involved for probably three or four years, had a great mentor. But it was crazy. I mean, you just basically had to have a pulse and show up and find your name and you could get alone It was absolutely insane. And then as you As we progressed into, oh 607, leading into oh eight, I could kind of see the handwriting on the wall and I had an opportunity to go back in the golf business, which I did. And then coming, you know, fast forward to 2016 some things were winding down, and I was ready to step back from golf and had an opportunity to go back into mortgages. So I did it was a completely different animal in 2015 versus what it was, I almost feel like I didn’t have any mortgage experience when I came back in 2015. So, yeah, it’s Correct, correct. So, I took a role as an assistant for about 1011 months and then move into a full time loan officer, originating on my own took the time either to make sure I was re affiliating myself with guidelines, how to do business, you know, in the new, everything was full back fully documented versus you could just basically sign your name So, you know, that’s really my more coming back. And, you know, was interesting because I really wasn’t sure I wanted to get back involved. And I hemmed and hawed a lot, but I’m super glad that I did. It’s been an amazing, three years, three and a half years, whatever it is. And, you know, I’ve been blessed to have a couple of really great coaches and, you know, taking as I do with everything, I go in with both feet, and don’t look back. So I’ve just been super blessed with great coaching, some great accounts, some great real estate partners like yourself, and, you know, I’m just,

Unknown Speaker  5:42  

you’re absolutely fantastic mortgage broker, very communicative and whatnot as being a real estate agent. That’s, that’s super key. Tell us a little bit about your thoughts with mortgage lending during our quote unquote pandemic right now, the direction it’s going What people should be watching out for?

Unknown Speaker  6:01  

Well, it’s tightening. So leading up to the pandemic guidelines were actually starting to loosen up. And now guidelines are tightening. And a lot of it has to do with the cares act, and that the government put in place some practices so that people can get relief. But as the government generally does, they don’t do everything all the way. And because they didn’t set it up that you had to prove that you needed for Baron, you know, you’ve got people that need to go into forbearance, don’t fully understand what forbearance is, and you have people that don’t necessarily need to go into forbearance, but they hear the media saying, hey, you can skip mortgage payments for three months, and they’re not fully explaining the consequences of those actions. So just as a public service announcement, forbearance is a mechanism where you can skip payments for however many months but when that forbearance period ends, you You’re going to have to make up all of those payments in one lump sum. So in my opinion, it doesn’t make any sense. Because if you didn’t have $2,000, in May, and you go into forbearance for May, June, July and come out of it in August, now you have to come up with 246 $8,000. So if I didn’t have $2,000, I don’t know how I’m going to have $8,000. So it’s really important that if you need help that you call your servicer, and you ask a bunch of questions, and you’re really looking for words like deferment, if they will allow you to go in deferment, like they do with your cars or credit cards, which is they basically put the lump sum on the end. That’s helpful because payments, they get added on. So instead of having 30 years last year, 30 years in three months,

Unknown Speaker  7:45  

okay, so what kind of questions if someone’s calling their servicer which is a great, great recommendation? I have a couple clients right now, I probably needed to calm them. What kind of questions are what? How should they start that dialogue with the servicer

Unknown Speaker  8:00  

Well, I need to call them up and ask them what their what their circumstances for helping you are. So are they putting you in forbearance? Do they have a deferment option? And you and then whatever conversation ensues number one, don’t do anything on the first phone call. I know it’s hard because it’s taking longer to get to live people, which you want to call back again. And then you want to pretty much demand that it comes in writing. Because Yeah, I mean, I hate to say this, but you know, when you’re calling 800 numbers, you don’t really know if you’re getting a person in the United States if you’re getting somebody out of the country. So I’m asking, you know, it’s like, you know, measure twice, cut once type of a thing twice, right, and ask for it to come in writing. And again, the big thing is, look for words like deferment, and and then if you do talk about forbearance, ask key questions. Does that mean all of my money is due at the end of the period? Am I going to be able to go into a payment plan option at the end of the forbearance period and get that in writing, correct? negatively report on my credit report because the media is out there telling everybody that it’s not. And that’s what the government is saying. And if we, if we remember back into 2008 they mucked it up then is pretty large chance it’s going to get mucked up. I mean, I don’t want to be negative, but I’m just we’re all trying real hard, right? We’re all trying to just say, look, let’s, let’s be realistic, we’re dealing with the government, they do a lot of great things, but they muck stuff up. So sure. I mean, cuz we’re already seeing people filing or asking to go into forbearance, not fully understanding what it means or their terms, and then calling to refinance. You cannot refinance your current loan if you’ve gone into forbearance.

Unknown Speaker  9:47  

That’s, that’s a big thing. And then you see that low rate out there and they’re like, Oh, we want to refi Mulvaney and you’re like, well, you’re in forbearance.

Unknown Speaker  9:55  

So unfortunately, that’s becoming my first question. Have you gone into forbearance because We have we’re dead in the water.

Unknown Speaker  10:02  

Gotcha. And what do you like? Okay, so you had when we were all back there printing money, you know my story back in the day my tax issues, which I’m very candid about and transparent about on my podcast, but when you were back there, you print money and you took the I don’t want to call it a break because you worked your butt off in the golf world, when you kind of came back in 2015 and the changes with Dodd Frank and the restrictions and whatnot. What do you think, because of your experience makes a great mortgage broker,

Unknown Speaker  10:34  

communication, okay. You don’t have to know everything, but you have to know how to communicate good news, and you have to know how to deliver bad news. And I think delivering bad news as fast as you deliver good news, especially in our real estate partner relationship is super important. And same thing with your client. Nobody wants to be dragged through the mud and learn on day 27 over 30 day close that their loans falling apart.

Unknown Speaker  10:59  

Yeah. That is a is an agent, like millennia is literally my first mortgage broker I’ve had on my podcast. Because I like her conversation I’d like to she believes in no slow nose. And what I mean by slow nose is like, we’ll weigh in, then we’ll give the bad news later and be like, no, let’s tackle it and see if there’s a problem now, in the way that her company does this, she writes it up front, so she knows if this is going to close unless something catastrophic happens. That’s, that’s great that you said communication. Thank you for being a great communicator. So if I’m out networking, and again, this is all kind of facetious for me because I’m in the world for 22 years, you know, in the real estate world, but if I’m out networking or someone else is out networking in who then someone saying something, how would we know that they are a good prospect contact connection or referral for you?

Unknown Speaker  11:53  

Well, anybody who is who owns a home is looking to buy a home is a good referral because If they own a home, there’s 100% chance that there’s a refinance opportunity for them. And if they’re obviously looking to buy a home, they could possibly not be paying cash and need financing assistance or they even if they do pay cash, they can do things like delayed financing so that they can use their cash pools quick quickly and then take advantage of low rates after

Unknown Speaker  12:20  

love it. I love it. So that’s, that’s great. So if someone’s saying, Hey, you know what my daughter’s graduating college looking to purchase a home and be like, Hey, I got a great person for her to start her journey with the fantastic so let’s get in our DeLorean. Let’s get in hang out with some Marty McFly. Let’s go back in time. What kind of life knowledge nuggets. Are you dropping on the 22 year old Delaney?

Unknown Speaker  12:45  

Oh god, I’m dropping on the 22 year old Delaney don’t Well, I mean, just keep going everything balls to the wall. I mean, it’s

Unknown Speaker  12:57  

my coffee.

Unknown Speaker  13:01  

You know, hit the ground running. I mean, I have an 18 year old son who’s getting ready to go to college, we have these types of conversations all the time he and he and my husband both, you know, we don’t want, as all all parents, we don’t want our kids to make the same mistakes that we do. Sure. And I think the biggest thing for me looking back is just not having any fear and just, you know, put your head down and go, don’t worry about what other people think. Don’t worry about the outcome, focus on the process

Unknown Speaker  13:28  

of that. So just keep being persistent. If you fail, fail forward, you know, just keep just keep persisting. I love that. So, you’ve did a lot in the mortgage industry a lot in the golf industry. What is the one big thing that Mulvaney wants to accomplish in life?

Unknown Speaker  13:48  

What I’m thinking you want to accomplish in life, you know, I just want to be a good mom, a good wife, and a good person and just, you know, hopefully make some money along the way. And your bio Said

Unknown Speaker  14:01  

another friend,

Unknown Speaker  14:04  

I just, you know, I’ve got aging parents just want to make sure that they’re set and taken, you know, taken care of, I want to be able to hit the golf course. You know, just looking for the well balanced existence and you know, fulfilling happiness as much as possible because we only get to go around the Earth once.

Unknown Speaker  14:22  

Right? Gotcha. It’s a simple you know, but you’re simple to driven and I love that about you. So, like, Is there anything that you wish your son will say you’re somebody that can’t believe is a thing because we’ve known each other more five years I think right? You know, so like, right when you I think you might even still been processing when I first met you move your way back to mortgage brokering your son’s 18 Is there any question that you wish he would ask you, but just never does about life?

Unknown Speaker  14:55  

Well, he’s pretty open. So he asked us just about everything, which I’m super grateful that answerable enough, but he does. Um, you know, the biggest thing that I see in him that I wish for him is that he just lets the fear go and just runs after whatever it is that he wants and even if you’re not sure, just run after it. Anyway,

Unknown Speaker  15:17  

Malini that’s phenomenon. So, we’re going to take our cell phone out, we’re going to take our computer out of the equation, any kind of communicative device, those are all out what are three things Malini cannot live without?

Unknown Speaker  15:36  

Go

Unknown Speaker  15:40  

my husband I mean, do I take out my family too. So I just say golf and family and then give me a family and

Unknown Speaker  15:47  

give me a third.

Unknown Speaker  15:49  

I think writing, writing okay.

Unknown Speaker  15:53  

You better watch it with me. You should say real estate agents.

Unknown Speaker  16:01  

Oh no. What music or album ever? Because you and I are right around the same genre same age. So what music or album blew your mind?

Unknown Speaker  16:14  

Oh my mind

Unknown Speaker  16:18  

blew my mind blew my mind probably the Michael Jackson type of stuff. I know right?

Unknown Speaker  16:24  

thriller albums Like what? Like, we look back now how transforming that time was for our lives and like these kids now they’re like, so like I want to take they see take it for granted but they did not go through the transition that we did. I mean in jobs, jobs jobs.

Unknown Speaker  16:43  

And it’s like so funny to watch her now.

Unknown Speaker  16:46  

So what is Molly’s definition of a life well lived.

Unknown Speaker  16:54  

I think being just being satisfied with who you are in Knowing you know, being comfortable in your own skin, having a spouse that loves you as much as you love them and just wanting to walk through it all together.

Unknown Speaker  17:12  

What’s the secret to that being because you’ve been with your husband 2025 25 years, your quarter century so what is the secret to that morning?

Unknown Speaker  17:22  

Um, I think communication Honestly, I mean he in the ironic part is he’s generally communicating more than I am. Probably because I’m talking all day. Um, but you know, I just think you know, you know, when, when things are going good, they’re going good when things are going rough. That’s when you’ve got to buckle down and know that whatever it is, is temporary and you got to keep talking.

Unknown Speaker  17:49  

Keep an open line of communication over ways.

Unknown Speaker  17:52  

Yeah, you got to be honest, you got to be honest about what you’re thinking and what you’re feeling and, and know that this too shall pass but You know, talking it’s such a good thing.

Unknown Speaker  18:02  

I love that what what? What have you learned internally about Mulvaney, during this quarantine time? You guys become he just gotta chill, right? Yeah. You gotta just take it one day at a time and know that this too shall pass. Beautiful. So okay, we’re gonna move into our leveling up lightning round you and I have had lunch drinks hung out together. You and I can everyone these questions you and I could talk for 1520 minutes easy but producers might hear in my face right now saying five seconds you have five seconds. For each answer. They’re easy. You can answer I promise you you’re ready. Yep, I’m ready. We go. What’s the best leveling up advice you’ve ever received?

Unknown Speaker  18:46  

To become just to just to become

Unknown Speaker  18:49  

love it. What’s one of your personal habits that contributes to your success.

Unknown Speaker  18:54  

I’m getting up and being grateful every day. Firstly,

Unknown Speaker  19:00  

Not the flavor of the month book, not the book that everyone’s talking about. Not when you’re reading now what’s the one book that just boom it hit you and it sticks in you for your whole life.

Unknown Speaker  19:14  

Oh, by Craig Groeschel

Unknown Speaker  19:17  

it makes after the factor by print just saves us a Stephen King. I’m like that.

Unknown Speaker  19:25  

So what’s your favorite charity and or organization you’d like to give your time and or money to?

Unknown Speaker  19:30  

Anything that helps veterans love that

Unknown Speaker  19:33  

moment. And last question, the best decade of music 6070s 80s or 90s 80s 80s. There you go. There you go. What do you how can we find you?

Unknown Speaker  19:49  

Well, my cell phone 561-371-1107 and malini@gmail.com.

Unknown Speaker  19:57  

Love that and then you have a So you’re and you can also visit our at signature ml calm Yep, just where her loan officer webpage with with signature mortgage lending which is fantastic. We leave us with just one Knowledge Nugget that you want our time to shine today podcast squad to walk away with internalize and in keep

Unknown Speaker  20:24  

real estate related

Unknown Speaker  20:26  

life or real estate

Unknown Speaker  20:28  

really well I like the kind of the theme of this whole podcast is you know, this too shall pass. And I just think you know, for our real estate, people out there just to know that the real estate market was strong coming into the pandemic. It’s going to be strong coming out of the pandemic. There’s a lot of stats out there. You know, the millennials are starting to start. Yeah, there’s a lot of stats out there and Millennials are starting families and as soon as they start a family, there’s an 80% chance that they’re going to want to buy a home and we had a housing shortage coming into this We’re not going to not have a housing shortage coming out so we’re gonna stay strong.

Unknown Speaker  21:04  

I love that and love it and squad. You’ve had some serious knowledge nuggets were dropped on you by my friend Delaney gunning. She is Paulson law with some love it that you lay that out there she’s telling you to let go of the fear and go persist if you fail fail forward. And if you’re looking for a fantastic, fantastic lender, especially if you’re in South Florida and if you’re not here, do you lemon soft anywhere else? The whole state of Florida and then in the process of getting licensed in a couple of other states. Okay, but it even if like if you’re listening this podcast and you want to referral out of the state of Florida ring up millenia at 561-371-1107 Emmaline, as always I feel better after talking to you I feel more calm. I know that this too shall pass. And now you’re part of the time to shine today. podcast squad. So thank you. Thank you. Thank you so much. Thank you so much for having me on. super exciting. Awesome. Talk soon. Thanks, Scott. Hey, thanks so much for listening to this episode of time to shine today podcast probably brought to you by southern New Jersey real estate real estate excellence, who can be reached at 561-249-7266 and online at www dot Sutter and nugent.com. If you’re a business owner or professional who would like to be interviewed on time to shine today, please visit time to shine today comm slash guest If you liked this episode, please subscribe on Apple podcasts, Google podcasts, Stitcher, Spotify, I Heart Radio or wherever you get your podcasts. There’s a link in the show notes for our website. Also there you will see a recommended resources. We hope that you will support our show by supporting them. If you like what you’ve been listening to, it’d be great if you could just give us a five star rating until your friends have subscribed while you’re at it. I’m your host Scott Ferguson. And until next time, let’s level up. It’s our time to shine.

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