Savings And Loan Industry Adept – Dan Trinidad Talks On His Thriving Business Albeit The Industry Crisis.
The savings and loan industry has a vital role in the smooth circulation of the country’s wealth. It can be rightly termed as one of the pillars upholding a country’s economy. Systematic government regulation and control upon it can secure financial prosperity, but when these regulations and controls are adulterated with self-interests, a national disaster occurs.
The US witnessed a great crisis in the Savings and Loan (S&L) industry for almost a decade between the 1980s and 1990s. All of which was the result of a mismatch of regulations, unethical practices, as well as outright corruption, and resulting soaring inflation. The government’s move of increasing the interest rates to curb down the double-digit inflation sparked a recession and left the S & L industry with a volatile portfolio of low-interest mortgage loans. The thriving S&L industry was upended and seemed to be a rags from riches story. While many were withdrawing their interests from the industry, a few saw the crisis as an opportunity to turn the tables and create something new and better. Dan was one of those people.
About The S&L Industry Wizard
Dan Trinidad, the founder of one of the first few upscaling S&L companies of the US, “Partners Mortgage”, started his career as a loan officer at a Savings & Loan firm in the Bay Area of Northern California in 1984. When the downfall hit the S&L industry, he took charge of his destiny and set out to build a new model that would regain and rebuild credibility in the industry. Even though mortgage brokers were primarily thought of as hard money lenders, he saw an opportunity. Intending to design the life of his dreams by revamping and restoring the lost trust of the system, he started his S&L firm “Partners mortgage”. His venture offered unparalleled support and exceptional benefits which led to the rapid expansion of the business. To date, Partners Mortgage has partnered with thousands of customers who shared the same vision, allowing them in turn to buy their dream homes or refinance their existing mortgages.
Mushrooming Of Partners Mortgage
The firm was established in October 1988 and was funded by Dan’s savings. It was one of the most technologically advanced S&L firms of that time across the country due to its automated loan origination system. Computers were an intricate mystery to most back then, however, they were an integral part of the firm’s working system. The name “Partners Mortgage” was given because of the work culture they created. Dan and the team established a relationship of trust and confidence with their customers, or a partnership. They “partner” with business partners like realtors, builders, financial advisers and especially with their customers. This partnership leads to the smooth functioning of systems, ensures the achievement of desired results and directly results in business growth. This emotional connection has turned out to be their lead generator and has led to a slew of repeat business and referrals. With their unparalleled communication, speed and transparency, they have partnered with some 50,000 clients over the span of 33 years.
To discover more about Dan and his dream venture, Partners mortgage, please visit their website.