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Gold Coast Financial: Money As A Means Of Service

(with photo)

BY JEFF WHITE

"A lot of people say `we're committed to service,'" says Eileen Fish, sitting

around a mahogany conference table in Gold Coast Financial Mortgages' office

on Church Hill Road. "But we really are. We really are committed to service."

It appears that Gold Coast's tenant of customer service has paid off well over

the three months Ms Fish and her partner Joelle Mrak have occupied the

upstairs floor above Dr Isgut's Family Health Care Center office.

"People are getting to know us, getting to know we're here," Ms Fish

continues. "Every day we have more satisfied customers."

Both managers will agree that Gold Coast is the only true mortgage company in

Newtown, with services that span the spectrum of traditional financial

offerings, from first and second mortgages, home equity and small commercial

loans, to no-income verification loans. Financing options at Gold Coast mirror

the variety of services the company offers, including complete 100 percent

financing to the 20 percent down, fixed-rate customer.

Together, Ms Fish and Ms Mrak bring a combined 20 years of mortgage and

financial experience to their company's table.

Ms Mrak, 31, earned a finance degree from the University of Cincinnati (she

would later earn a degree in real estate), and has been in the mortgage

business for the past eight years. Ms Fish, 38, also comes from an analytical

background, specifically math and science, which she says has served her well

in dealing with the nuances of finance. She applied her background to the

mortgage business in 1987.

The two managers formed and strengthened their friendship during the four

years they worked at the same bank. During those years, says Ms Fish, "we

found out that we were compatible, that we could really rely on each other's

opinions."

The time came for them to strike out on their own. "We shared a common goal,"

adds Ms Mrak, "and together we saw a great opportunity to expand our careers."

In 1998, they got licensed to start their own business. For Ms Fish, who has

resided in Newtown with her husband and two children since 1990, there was

really no question about bringing their business to Newtown. "The town is

really growing, and it has a good real estate market," she says.

"This office had a great central location," adds Ms Mrak.

Since combining their expertise, Ms Fish and Ms Mrak have opened Gold Coast

branches in West Haven, and most recently in Dorchester, besides their main

branch in Newtown.

Through the changes, Ms Fish and Ms Mrak have maintained a strong friendship,

both inside and outside the office, which lends a comfortable feel to their

practice. They laugh at their tendencies to finish each other's sentences, to

almost know what the other is thinking. But it is exactly this rapport, the

ability to know each other's strengths, that serves their customers so well.

Ms Mrak handles the internal operations of the company, such as working with

the over 30 national and local lenders Gold Coast utilizes, to ensure a smooth

execution of each loan transaction.

"She's very logical and analytical, and that is what works for that part of

the business," remarks Ms Fish.

For her part, Ms Fish handles external concerns, such as training Gold Coast's

staff of loan originators, who all have a minimum of four years of experience

in the mortgage industry, and the firm's marketing concerns.

Both will agree that it is the 50-50 nature of their partnership that serves

their customers best. "We can offer more than just sitting down and taking a

mortgage," Ms Fish explains.

It is not just about offering low rates, she explains. "We sit down and listen

to someone's goals, and we are able to talk to them about all their options.

Anyone can offer low rates, but that's only part of the equation."

"And we both can pick up where the other has left off in a transaction," Ms

Mrak adds.

Three months of doing business in Newtown has allowed Gold Coast to observe

the kind of services important to town residents, such as construction lending

and special financing for builders, along with the usual array of regular

loans.

"We can meet any mortgage financing anyone might have," Ms Mrak says.

Moreover, loan expediency remains a powerful weapon in Gold Coast's arsenal.

The company is fully automated and utilizes the latest software in the

industry, which enables Ms Mrak and Ms Fish to provide a 24-hour written

approval for a mortgage.

More and more people are interested in using computers and the Internet for

their financing needs, they both explain, and Gold Coast offers the same quick

service found electronically, in a face-to-face encounter with fast written

approval. It seems that efficient service does not have to mean a lack of

personal interaction.

Gold Coast is a member of all the major accredited mortgage organizations in

Connecticut, such as Connecticut Society of Mortgage Brokers and the

Connecticut Mortgage Bankers Association, along with a membership in Newtown's

Chamber of Commerce.

The mortgage firm offers the typical service hours of Monday through Friday,

from 9 am to 5 pm, but also offers extended service available by appointment

at night and on the weekends.

As Ms Fish points out, for most people a mortgage will be the largest

financial undertaking they will have to make. It is a delicate transaction, in

many cases, giving people the ability to obtain that perfect place to live, to

start customers down the road to home-ownership. Both Ms Fish and Ms Mrak

realize that the mortgage business ultimately deals with people's dreams.

For on the wall of their conference room, sketched on a marker board, resides

just such a hope written by a little girl of one of their clients. It simply

reads "I hope we get the house."