Secure One Capital - A Unique Mortgage Experience

The mortgage industry is one of the oldest and most challenging fields. Staying relevant in this space requires innovation at every step. There are a lot of risks in the management of properties. While most companies entertain people with good FICO scores, Secure One Captial helps people with FICO scores as low as 540. It has been relevant in the industry for more than two decades now. We had an interesting conversation with Jim Pate, the CEO of the company. Here are the excerpts from the interview:

What attracted you to build a mortgage company?

I entered the business in 1999 and worked tirelessly for other people. We waited for the right market, the right opportunity. We acquired Secure One Capital in 2012, a mortgage company with a foundation and relationships. My business partner, COO, Ryan Marier, and I knew that we would have a positive impact on Secure One Capital by bringing our energy, enthusiasm, and a proven track record in mortgage sales and lead generating expertise to the company.

That was back in 2012. Since then, we dedicated ourselves to building a company grounded in our core values, which embodies integrity, hard but smart work, treating people right, accountability, and being passionate about delivering our promise of ‘A Better Mortgage Experience’ to our clients. We also understood the tremendous opportunities presented by providing quality mortgage products at competitive rates, combined with speed, efficiency, and excellent customer service.

How are you addressing the shortcomings?

Shortcomings? ( Laughs). Seriously, we are focused on getting better every day. We talk about it during new hire orientation, training, in our Monday Morning Mindset Meetings, in managers’ meetings, and daily team huddles. It is part of our everyday culture.

In my humble opinion, if you are not moving forward and you are not focused on getting better every day, then you and your organization stagnates. You may as well hang it up, take off your jersey and get off the field. Our industry is continuously evolving. We are committed to keeping our organization ahead of the curve and meeting day-to-day challenges with our uncanny ability to pivot quickly with the market versus playing catch-up.

Who are your target customers?

There are a few things which we do very well. VA IRRRLs, FHA Streamline, and conventional refinance loans are all programs through which we know that we can positively impact our clients. We are very proud of our support for the military through our VA loan programs. We are committed to providing them with the level of service which they have earned and have every right to expect.

Finally, we know that people who have credit challenges and FICO scores below 620 are underserved, so we try to be a resource for them to obtain FHA and VA financing. We are even able to help many clients who have FICO scores as low as 540.

What are the reasons to pick Secure One Capital?

It’s simple; the employees and managers of Secure One Capital are committed to delivering on our promise of “A Better Rate, Better Service, A Better Mortgage Experience.” It may seem like it’s just a slogan, but our employees have bought into the concept and remain focused on making a difference while having a positive impact on our client’s personal finances.

What is the difference between Conforming Loan Programs and Non-Conforming Loan Programs?

Conforming loans are those which conform to Fannie Mae and Freddie Mac guidelines. All other loans are non-conforming. The current conforming loan limit is $510,400. However, in high-cost areas, like Orange and LA Counties, the limit goes up to $765,600 for a single-family residence.

What is the range of loan programs you offer for homebuyers in Orange County, CA?

At Secure One Capital, we offer VA, FHA, conventional conforming, and jumbo loans to our clients in the OC and across the country.

What are the upsides of Jumbo Mortgages?

For qualified borrowers, a jumbo mortgage loan will help them purchase or refinance homes above conforming limits. In Southern California, many areas include homes that exceed the $765,600 limit. The high-end borrowers need a mortgage lender, which they can trust to navigate through the jumbo loan process.

Kindly explain the pros and cons of Adjustable Rate Mortgages.

Adjustable Rate Mortgages (ARMs) are a viable option for the right borrowers. They typically offer a lower introductory rate. Hybrid ARMs offer a fixed period prior to converting to an ARM. Fixed periods vary; however, 3-year, 5-year, 7-year, and 10- year are typical. Most ARMS feature annual rate adjustments.

Borrowers who have a short-term plans are typically the best candidates for ARMs and Hybrid ARMs, i.e., starter home, pending retirement, etc. The prominent negative aspect of an adjustable-rate mortgage is that the rate could go up at some point, which would cause the payment to go up and may result in “payment shock” for the homeowners. The other pitfall is that no one can predict the market. It may be possible for the homeowner(s) to be unable to refinance or sell as planned due to a down market, which we saw during the mortgage crisis. It is essential that anyone considering an ARM must consider all possibilities and their risk tolerance before applying for and accepting an adjustable-rate mortgage.

About the CEO

Jim Pate is the CEO of Secure One Capital. With over twenty-one years of experience in the mortgage banking industry, he has developed a wealth of knowledge in all aspects of the financial services industry. Jim is an exceptional leader with a talent for recruiting, developing, and building corporate infrastructure. He has a track record of achieving and surpassing his personal and company goals in all market conditions.

Jim also has a reputation for building and strengthening healthy client, employee, vendor, and third-party partner relationships, which match his drive to succeed. His executive leadership has led to 500 percent firm growth in less than ten years. Outside of his professional life, he enjoys spending time with his family. His philosophy for life is finding a balance between work, family, and health.