If you’re in a pool hall and this guy is there, don’t play him. Not even for fun, because it’s not going to be an enjoyable experience.
Jay Davis is a shark, but not just with billiards. The Linsly and WVU alum has worked in the finance industry since 1992, and he was the owner and operator of the Corner Pocket Billiards Club from 2011-15. Davis has been a loan officer, a vice president of lending, and is now the branch office manager for Revolution Mortgage in St. Clairsville.
And he is open for business, too, and instead of working from his downtown St. Clairsville location, Jay is doing deals from home. As a financial consultant as well as a loan agent, Davis often assists clients on credit repairment so they can gain the capability to buy a new home in East Ohio or the Northern Panhandle.
There is more to life than all the ledgers, though, and that’s because Jay is a dedicated husband and father to a daughter and son. They are his reasons for going about his professional career with a competitive and determined approach. That’s likely why he “signed” his return email this way: “Revolution Mortgage – Jay Davis Branch Manager-740-312-1122.”
How have you been able to continue your work with existing clients and new clients? How have you been able to recruit new clients during the past month?
My realtor groups are still working, and people are still looking to buy. Sites like Zillow and Realtor.com are now more than ever being used to view homes, and potential buyers can link with a realtor or lender like myself by just clicking a button. I immediately get notifications for questions that I can respond to and help the buyers get pre-approved fairly quickly.
What parts of the process can be accomplished online and on the phone?
Work has been “as usual” for the most part as majority of our business is technology driven with online applications and online signing of documents. The downside is for the technology challenged customers that want to see you in person to take the application because they either don’t want to put their information online or are not comfortable doing so.
It could be tough if you don’t have a scanner/printer or don’t know how to upload documents into an email. Revolution Mortgage uses state-of-the-art technology that can all be done from your phone. You can apply for a mortgage, upload all your documents, and follow the process of your loan all on one app.
Title companies are moving to get closings online as well, but that has been a challenge. Legislation is working to allow online notaries to either use skype or live apps to watch you sign closing documents. Of course, you would need a printer and scanner to then upload your documents back to the notary or lender. Believe it or not, we had a record month for March and are looking to break that record in April.
With stimulus checks coming, what do you feel would be the best use of those dollars for those still working? Pay down credit?
I have yet to hear of anyone getting any stimulus funds, but I hope people are going to use it to pay their bills. Not necessarily pay off bills but to pay the minimum payments to keep bills paid on time. I would hope that people that are on fixed incomes that are really not affected by the employment aspect of this crisis would pay down their debt. Some may hold on to the money till we know we are clear to resume normal activities also. I hope they would pay down their debt after this passes or use the money to invest in an emergency fund. The money isn’t there to purchase items to boost the economy like it was in 2009. This money is for you to pay your bills to keep your credit and stress levels down.
Even during this pandemic, people can work on improving their credit rating. Explain how that can be accomplished.
Credit runs this country, and if individuals are now missing payments, their credit will take the major hit. These late payments will cause them to not get loans this year when they may need the money the most. The best thing to do is contact your lender and see if they are deferring payments during this crisis. Some lenders are moving payments back three months to the end of the loan. Some are asking that you pay at least the interest due, and some are asking that you at least pay the escrow accounts on your mortgages.
The worst thing you could do is not pay them at all or not contact your lender. That’s another reason why having an emergency account that will cover three to six months is always important.
Which of the changes you have been forced to make since mid-March do you believe you will retain … and why?
I really haven’t made any changes to my daily routine except sleep a little in the mornings since I don’t have to be in the office. Everything about this crisis has been difficult for most, and I really just want to get back to my daily routine of helping people get back on track financially and into their homes. America is about living the dream and doing what you want because you can. No one really wants to be on lock down. I just hope we can get through this crisis soon because if it goes till the end of May or even June, we will fall into even more of a financial crisis and a deep recession.
