Viewpoints: Andrew Marquis, Senior Loan Officer, Prospect Mortgage, Boston

by Alonzo Turner


Andrew Marquis is a Senior Loan Officer (NMLS #: 29861 with Prospect Mortgage working in Boston.

Every week, we ask an Boston real estate professional for their thoughts on the top trends in Boston real estate.

This week, we talked with Andrew Marquis, a Senior Loan Officer with Prospect Mortgage. 

Boston Agent (BA): When financing a condo, is there any unique steps a homeowner should take that they wouldn’t when getting a mortgage for a single family home? How can agents prepare?

Andrew Marquis (AM): When someone’s financing a condo, we have to approve both the buyer and the property. Approving a condo property is far more in depth than, say, a single-family home, because we’re not only looking at the property’s value, but the the strength of the homeowner’s association as a whole. The unique steps I would suggest a buyer do is get ahold of a condo questionnaire, the condo documents and the financials. As a lender, those are the three things we’re looking at, which will tell us what percentage is owner occupied, how many user owners are delinquent, the particulars of how finances are being distributed, among other things. In summary, we want to take the proper steps upfront to ensure the property is going to meet our lending guidelines.

BA: A recent Metro Trends study found that one of the reasons mortgage rates had remained so low, is that demand for financing was down. Have you noticed this trend, and if so, do you expect demand for financing to increase throughout 2015?

AM: Boston specific, we haven’t seen demand fall that low. But what we’ve seen around the country is because lending guidelines have gotten so tight, it’s been more difficult for first-time buyers to get financing. Here in Boston, though, we’re blessed with a fairly sophisticated, younger generation – we have a strong academic community, a lot of professionals – so we’re not having too much trouble finding loans for young homebuyers. As of late, the weather here has been atrocious, which has slowed the market, but I expect demand to creep up further once warmer weather comes in.

BA: What advice would you today give yourself as a rookie loan officer?

AM: Be as responsive as you can, as promptly as you can. Be accurate in what you say. Don’t fluff an answer; look it up, figure out what you need to do, and then do it. Being a successful loan officer, we’re only as successful as our last deal. If we screw up a deal, for whatever reason, the referral partner is going to annihilate us. So it’s important to look at every deal as if it is your first and last. Also, I’d say, don’t get caught up with the day to day monotony. Always be generating leads and increasing your network.

The information contained in this article is for general information purposes only and to provide a general understanding of residential mortgage loans and is not provided as professional advice for your specific situation. You should speak with a loan officer regarding your specific residential mortgage loan requirements.
Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (NMLS Identifier #3296, www.nmlsconsumeraccess.org) is a Delaware limited liability company licensed by MA Mortgage Lender/Broker License #MC3296. This is not an offer for extension of credit or a commitment to lend.

Read More Related to This Post


  • I just want to tell you that I am just newbie to blogging and site-building and really liked this web-site. Very likely I’m planning to bookmark your blog post . You amazingly have amazing stories. Appreciate it for sharing your blog site.

  • Hello my family member! I wish to say that this article is amazing, nice written and come with almost all vital infos. I would like to peer more posts like this .

  • Do you have a spam problem on this site; I also am a blogger, and I was curious about your situation; we have created some nice practices and we are looking to exchange techniques with other folks, be sure to shoot me an e-mail if interested.|

  • Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! However, how could we communicate?

  • I keep listening to the news bulletin lecture about getting boundless online grant applications so I have been looking around for the most excellent site to get one. Could you tell me please, where could i find some?

  • It¡¦s really a nice and helpful piece of information. I am happy that you simply shared this useful info with us. Please stay us up to date like this. Thank you for sharing.

  • Hi my friend! I wish to say that this article is awesome, nice written and include approximately all vital infos. I would like to look more posts like this .

  • Modern Sofa says:

    I have been browsing online more than 3 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. Personally, if all site owners and bloggers made good content as you did, the internet will be much more useful than ever before.

  • I as well as my guys happened to be reviewing the best tricks found on your web site then before long I had an awful suspicion I had not thanked the web blog owner for those tips. All the boys happened to be for this reason passionate to learn them and now have in truth been enjoying them. Thanks for actually being very kind and then for selecting this kind of ideal subject matter millions of individuals are really wanting to be informed on. Our honest apologies for not expressing gratitude to sooner.

  • I was just looking for this info for some time. After 6 hours of continuous Googleing, at last I got it in your website. I wonder what is the lack of Google strategy that don’t rank this kind of informative web sites in top of the list. Usually the top websites are full of garbage.

  • My wife and i ended up being really excited that Chris could finish off his inquiry because of the precious recommendations he had out of your web site. It’s not at all simplistic to simply always be making a gift of concepts that many a number of people may have been selling. And we all fully grasp we have the website owner to thank because of that. Most of the explanations you made, the simple blog menu, the relationships your site make it possible to instill – it’s everything unbelievable, and it’s leading our son and our family understand the article is thrilling, and that’s tremendously vital. Many thanks for the whole thing!

  • Great tremendous issues here. I am very glad to look your post. Thanks so much and i am taking a look forward to contact you. Will you please drop me a mail?

  • Unquestionably believe that which you stated. Your favorite justification appeared to be on the internet the easiest thing to be aware of. I say to you, I certainly get irked while people think about worries that they plainly do not know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side-effects , people could take a signal. Will probably be back to get more. Thanks

  • I haven¡¦t checked in here for a while because I thought it was getting boring, but the last several posts are great quality so I guess I¡¦ll add you back to my everyday bloglist. You deserve it my friend 🙂

  • You actually make it seem so easy with your presentation but I find this topic to be actually something which I think I would never understand. It seems too complex and extremely broad for me. I am looking forward for your next post, I will try to get the hang of it!

  • I was suggested this website by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my trouble. You’re amazing! Thanks!

  • This is very interesting, You are a very skilled blogger. I have joined your rss feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!

  • Phone Cases says:

    I definitely wanted to make a brief word so as to thank you for those fabulous solutions you are sharing at this website. My particularly long internet lookup has finally been recognized with good quality concept to exchange with my family. I ‘d mention that we site visitors actually are truly blessed to live in a fabulous place with so many outstanding individuals with insightful techniques. I feel very much fortunate to have seen your entire site and look forward to so many more thrilling moments reading here. Thanks once again for all the details.

  • Excellent blog right here! Also your web site so much up very fast! What web host are you the use of? Can I get your associate link to your host? I wish my web site loaded up as quickly as yours lol

  • LED Monitor says:

    Great awesome things here. I am very satisfied to look your article. Thank you so much and i’m having a look forward to contact you. Will you please drop me a e-mail?

  • Contract Law says:

    Someone essentially assist to make critically posts I would state. This is the first time I frequented your website page and to this point? I amazed with the research you made to make this particular put up extraordinary. Fantastic job!

  • Hello there, You have done an excellent job. I’ll certainly digg it and personally suggest to my friends. I’m confident they will be benefited from this web site.

  • I have been absent for some time, but now I remember why I used to love this blog. Thanks , I¡¦ll try and check back more often. How frequently you update your site?

  • I am writing to let you understand what a notable discovery my friend’s child developed going through your web page. She even learned too many issues, including how it is like to have an amazing helping spirit to make many people without difficulty know just exactly certain complicated subject areas. You truly surpassed her desires. Thank you for churning out the valuable, healthy, informative and even fun thoughts on the topic to Sandra.

  • Payday Loans says:

    Wow, amazing blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your website is excellent, let alone the content!

  • Car Audio says:

    that’s good, thanks for sharing,.. I think this is great blog

  • that’s good, thanks for sharing,.. I think this is great blog

  • Great post. I was checking constantly this blog and I am impressed! Very useful information particularly the last part 🙂 I care for such info much. I was looking for this certain info for a very long time. Thank you and good luck.

  • Hiya, I am really glad I’ve found this information. Today bloggers publish just about gossips and internet and this is actually frustrating. A good site with interesting content, this is what I need. Thanks for keeping this site, I’ll be visiting it. Do you do newsletters? Can not find it.

  • SEO Packages says:

    Hi there, I discovered your site by means of Google even as looking for a related topic, your website came up, it seems to be great. I’ve bookmarked it in my google bookmarks.

  • I would like to thnkx for the efforts you’ve put in writing this web site. I am hoping the same high-grade web site post from you in the upcoming as well. Actually your creative writing abilities has inspired me to get my own site now. Actually the blogging is spreading its wings fast. Your write up is a great example of it.

  • Of course, what a magnificent site and enlightening posts, I surely will bookmark your website.Best Regards!

  • I truly appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You’ve made my day! Thank you again

  • Whats Happening i’m new to this, I stumbled upon this I’ve found It absolutely useful and it has helped me out loads. I’m hoping to give a contribution & assist different customers like its aided me. Good job.

  • Wow! Thank you! I constantly needed to write on my site something like that. Can I include a part of your post to my blog?

  • Normally I do not read post on blogs, but I would like to say that this write-up very compelled me to check out and do it! Your writing style has been amazed me. Thanks, quite great article.

  • Normally I do not learn article on blogs, but I wish to say that this write-up very pressured me to take a look at and do so! Your writing style has been surprised me. Thank you, quite great post.

  • I like the helpful information you provide in your articles. I will bookmark your weblog and check again here frequently. I am quite sure I will learn many new stuff right here! Best of luck for the next!

  • Excellent read, I just passed this onto a friend who was doing a little research on that. And he actually bought me lunch as I found it for him smile Thus let me rephrase that: Thank you for lunch!

  • You really make it seem so easy with your presentation but I find this matter to be actually something that I think I would never understand. It seems too complicated and very broad for me. I’m looking forward for your next post, I will try to get the hang of it!

  • fashion tips says:

    Great blog here! Additionally your web site so much up fast! What host are you the usage of? Can I get your affiliate hyperlink in your host? I want my web site loaded up as fast as yours lol

  • I’ve been surfing online greater than 3 hours as of late, yet I never found any interesting article like yours. It¡¦s beautiful value sufficient for me. Personally, if all webmasters and bloggers made just right content material as you did, the web shall be a lot more useful than ever before.

  • Lovely blog! I am loving it!! Will come back again. I am bookmarking your feeds also

  • that’s good, thanks for sharing,.. I think this is great blog

  • that’s good, thanks for sharing,.. I think this is great blog

  • that’s good, thanks for sharing,.. I think this is great blog

  • that’s good, thanks for sharing,.. I think this is great blog

  • that’s good, thanks for sharing,.. I think this is great blog

  • Thanks for another informative blog. The place else may just I am getting that kind of info written in such a perfect way? I have a venture that I am simply now running on, and I have been on the glance out for such information.

  • that’s good, thanks for sharing,.. I think this is great blog

  • Aqualigne Bordeaux says:

    Lyon Bordeaux en quart il y a au moins une bonne nouvelle on aura un club Fran

Join the conversation

Oops! We could not locate your form.