As a Market Leader of Movement Mortgage, Sherry Fonseca oversees activity in the state of Massachusetts and is enthusiastic about expanding the company, starting with downtown Boston, the North Shore, Worcester County and Cape Cod.
A 25-year veteran in the mortgage business, Fonseca (NMLS# 22136) said it was her former career as a paralegal that piqued her interest in the industry. “I was involved with real estate closings and became friends with a lot of loan officers,” she recalled. “They actually recruited me, and I never looked back.”
Fonseca worked with both banks and mortgage firms, becoming more passionate about it every year. “I love sales, and I love helping people to purchase or refinance homes,” she said. Later, she switched gears into coaching and managing, and she’s excited about building her team of dedicated mortgage professionals.
Influenced by Movement Mortgage founder and CEO Casey Crawford, Fonseca is determined to spread the word about making the homebuying process a much smoother experience for all. “Just as important is giving back to the community,” she said. “We have missionary trips around the world, have helped build schools for children and are active with charities in all 50 states.”
Founded in 2008, Movement Mortgage employs more than 4,500 people and has over 650 locations. In 2017, it was ranked among the top 10 purchase lenders by financing one in every 60 homes in the U.S. Today, Movement is the country’s sixth-largest retail mortgage lender, funding approximately $30 billion in residential mortgages annually,
In addition to keeping busy as Market Leader, Fonseca is involved with the Greater Boston Association of Realtors, the North Shore Association of Realtors, the Boston chapter of the Women’s Council of Realtors and the NAHREP and AREAA local branches. She has been married for 25 years and is the mother of two boys.
What attracted you to Movement Mortgage?
I think what I value the most is the culture of the company, the support that everyone receives and the Movement Mortgage Foundation. It’s not just about doing business in the local communities; it’s about getting involved and providing help to the local nonprofits and charities that keep the communities going.
What makes Movement a great place to work?
The No. 1 thing is that it’s a very happy place to work, and that’s so important. Everyone is on an equal playing field, and they all seem to have that “can do” attitude. People are constantly jumping in and helping out all the time. Again, it all starts with leadership. That’s how Casey is — he’s all about helping others.
Movement offers a very competitive compensation package, and support is always at your fingers. The company excels at giving time back to the loan officers so they can get more business and increase their volume. They spend less time on administrative work and more time doing business development.
In addition, we have a full-time CPA on staff to review tax returns and issue income calculations. And we have pipeline managers who constantly scrub the “pipeline” to make sure loans are moving forward, dates are met and issues or concerns are addressed.
What tools do you offer to staff?
There’s an amazing library of marketing information offering presentations, email and social media campaigns, flyers, and much more. We have free coaching, help with lead generation and a dedicated marketing person to assist our loan officers. Plus, our CRM, “movehome,” offers marketing assistance and a dashboard of your loans in the pipeline, all under one system.
Why is it the right time for growth?
Movement is currently the No. 1 purchase lender in Rhode Island, and we are growing significantly in Massachusetts. We’re looking for experienced loan offers who want and need support to increase their business.
What makes Movement different for your clients?
It’s all about the process, which we refer to as “6-7-1.”* The loan spends only six hours in underwriting, seven days in processing and one day for closing. We keep the borrowers updated along the way, so they always know what’s happening. And we also offer specialized departments for condos and renovation, plus a concierge to answer all questions. Finally, we have a rescue department that takes a loan that another lender could not close, and we close in an escalated process.
What are your goals?
My immediate goals are to expand our presence in markets across Massachusetts, starting, as I mentioned above, with Boston, the North Shore, Worcester County and Cape Cod. I also want to make it my business to work with loan officers looking to take their business to the next level.
*While it is Movement Mortgage’s goal to provide underwriting results within six hours of receiving an application, process loans in seven days, and close in one day, extenuating circumstances may cause delays outside of this window. | 75 Brandt Avenue, North Dartmouth, MA 02747 | MA-MLO22136, RI | Movement Mortgage, LLC supports Equal Housing Opportunity. NMLS ID# 39179 (www.nmlsconsumeraccess.org) | 877-314-1499. Movement Mortgage, LLC is licensed by MA Banker & Lender # MC39179, Rhode Island Licensed Lender, Broker and Servicer 20153194LL & 20153195LB & 20153196LS. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company. 8024 Calvin Hall Rd, Indian Land, SC 29707.