THE START OF A NEW BEGINNING
Michael Lopez, founder and owner of Alpha Mortgage Corporation has been in the mortgage business since the 1980s, and he brought Alpha Mortgage to Wilmington in 1989. He has incredible experience in the industry, and he has labored to design a very successful company.
Many builders, real estate agents, and clients enjoy working with them. Perhaps it is because the business constantly focuses on the relationships that are built and never sees the process as “just another transaction.” In fact, Lopez notes that each transaction has multiple relationships, and his goal is to forge a lifetime bond with each party. With the distinction of being the number one mortgage company in the area for closed purchases, Alpha Mortgage builds its business one family, person or relationship at a time.
Lopez explains that, by far, the keyword for them is “relational.” They are a preferred lender for builders, and they seek to multiply that designation for other groups. There are many staples in their work, such as closing on time. “The closing date is set by the agent and their client,” Michael says, “and that becomes our established priority. We want the connection between the agent and their buyer/seller to be successful, and we work hard to support their efforts.”
Another key characteristic is Alpha’s complete control of the process. Michael refers to it as “walking the loan around the room.” The company is structured to keep the entire flow of work in-house. They have originators and other key personnel who consistently work with the same underwriters so that communication and expectations are shared in an efficient way. By using cutting-edge technology, Lopez observes that Alpha Mortgage can offer quick time programs. They can close on time (15 business days in Wilmington), every time (15 calendar days in Jacksonville).
Michael also designed his own appraisal department. The appraisals are assigned by zip code, so each client has an experienced appraiser who knows the local area. The system affords the agent the opportunity to have a local and qualified inspection instead of just finding the cheapest that may lead to more problems. Lopez says that a person’s home is their safe and special place, and his team works hard to help them attain their dream. With a 98% closure rate, Alpha is often able to find solutions. Underwriters are not able to decline a loan without it going to a special committee to determine if any other options are available.
Lopez’s personal and business philosophies are meshed into a strategy that impacts his business. “I am a man of my word,” he says, “and I always seek to do what is right, the right way.” If a mistake is made, Michael Lopez’s desk is where the “buck stops.” He notes that they are aware that mistakes cost someone some money, and although mistakes seldom happen, he makes his company responsible for mishaps. He has personally re-invested often in the company for continued growth and efficiency. Michael does not have an allegiance to shareholders or dividends, so all decisions are made for the good of the business and the people involved. He shares that the company is significantly overcapitalized so that they have the freedom to do what they determine is right and what is best for relationship development.
Michael is a graduate of Arizona State where he studied acting and business. He loves to scuba dive, go boating and video underwater places around the world. He is a body builder and has even won several state titles. His favorite sidekick, Ocean, (10-year-old son) enjoys many activities with his Dad, and he is responsible for the company’s newer slogan: Alpha: the start of a new beginning. Lopez is also an avid student of the Bible. “I think it is not a club or sword, but it is the owner’s manual written by the manufacturer,” says Michael.
Jeff Gilley, Sales Director, says that Alpha is poised and equipped to continually grow. “We spend a great deal of time on developing people and processes, and we do every type of mortgage loan,” he says. Lopez also notes, “Especially close to our heart is the Veterans’ Administration loan (VA); we take serious delight in serving those who serve us.”
With over 120 employees in the company, Alpha has created a family culture. The team works with a “can do” mentality, and they seek to solve issues quickly. With in-house credit counseling, Alpha can work with people who may not be able to buy a home at the time, but the company will continue to help them until the client is able. Alpha Mortgage is known as the rescue lender and frequently closes loans that were started but not able to be closed by other lenders.
It is time for you to start enjoying the difference that Michael Lopez and Alpha Mortgage Corporation bring to the table. For more information, you may call 910.256.8999 or visit their website at www.alphamortgage.com.
Written By: Dr. Brian Ramsey
Photos By: Drone’s Eye
Credit: Gabe Chandler