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Monthly Archives: October 2022

Portfolio Loans

Portfolio Loans | SouthStar Bank What is a portfolio loan? A SouthStar Bank portfolio loan is originated and funded right here at our institution, and never moves into the secondary mortgage market. It’s called a “portfolio loan” because it’s always going to stay in our portfolio. That means we can rely on our relationship with the customer to determine loan eligibility even if they don’t meet the typical mortgage profile. For example, meet Annie. Annie is a freelance marketing consultant with variable income.  Her credit score has taken a few hits but we’ve known Annie for years. She’s been a customer in good standing and a part of our community for a long time. Her business is picking up, and she’s starting to get back on her feet. Purchasing a home could improve her stability, her credit, and her children’s lives. She may even want to purchase a four-plex, so she can start earning some rental income on the other three units.  Annie comes to SouthStar Bank and meets with one of our loan officers to discuss the Star Advantage Loan. We look at her plans, her property, and total financial picture and make a decision about whether she’ll be a good risk. If we agree the loan makes good business sense, we move forward, even though she would not have been eligible for a loan through Fannie Mae and Freddie Mac. Are portfolio loans a good idea? A portfolio loan generally isn’t riskier for the consumer than any other kind of mortgage. It is riskier for the banker, which means it can come with higher interest rates and fees. Whether they are a good idea for you depends on your unique situation and goals. Would you be able to qualify for a conventional mortgage with just a little more work and time? Do you have aspirations towards becoming a landlord or real estate investor? Are you trying to purchase a non-traditional property or unique property? Of course you should carefully consider the total picture before you make your final decision. Our loan officers are happy to discuss the risks and benefits of a portfolio loan in your specific case. How do you qualify for a portfolio loan?  Applying for a portfolio loan isn’t just about forms and numbers. It’s about your story. Be prepared to sit down and discuss yours. Tell us what your assets are, what you hope to accomplish, what’s behind, and what’s ahead. Be thorough and be transparent, even if you think parts of your situation might create an issue. We might be willing to work with you anyway, or we might be able to walk you through specific steps you can take to address areas of concern. What are some common uses for a portfolio loan?  Many of our customers have used portfolio loans to: Purchase a residence after a bankruptcy, short sale, foreclosure, or divorce. Purchase a residence while self-employed. Purchase a residence as a foreign national. Purchase a rental property or a fix-and-flip […]

Employee Spotlight- Mariela Tinajero

Mariela Tinajero, Assistant Electronic Funds Manager | SouthStar Bank Gonzales Annex Mariela Tinajero has been a part of the SouthStar Bank family for the last nine years. She works out of the Gonzales Annex as an Assistant Electronic Funds Manager. In her role, Mariela is responsible for managing all electronic transactions, including wires and ACH payments. Her always-ready-to-help attitude has earned her great respect around the bank. One of Mariela’s most significant career achievements was being awarded the Ride for the Brand award, which recognizes the individuals who have gone above and beyond to uphold the SouthStar Bank brand and standards. In her free time away from the bank, Mariela loves going on motorcycle rides with her husband, working out, and traveling with family. Something that might be surprising about Mariela is that one of her bucket list items is to travel to New York City.

Customer Spotlight- Cockrum Custom Homes.

Cockrum Custom Homes is locally owned and operated by Bradley and Marian Cockrum. Established nearly three decades ago, the Cockrums are intimately familiar with Williamson County market, witnessing significant growth in Georgetown and its surrounding communities. Bradley was keenly interested in home building from an early age. Helping frame homes with his grandfather who was a German carpenter, Bradley began his home building career at the age of 16. He has passed on his passion for craftmanship to his entire family that now works by his side. His son, Garrett Cockrum, working as superintendent and project manager at Cockrum Custom Homes, and daughter, Amber Cockrum, who manages the most recent expansion of their business, Cockrum Commercial. His eldest daughter, Haley Waggoner, a licensed residential real estate agent with Keller Williams, manages the real estate transactions.   Cockrum Custom Homes remains a niche business dedicated to quality custom homes. A full-service, residential custom home builder, the team specializes in 1+ acre homesites in Williamson County. Clients appreciate their attention to detail and personal approach to home building. Bradley values personal relationships and local expertise, and so found SouthStar Bank to be a fit for his financial needs. SouthStar Bank is able to provide a full relationship including commercial accounts as well as lending services for spec homes. From the personal attention by Tina Zander, Branch Manager, in retail and commercial banking to knowledgeable insights from lender, Jesica Garza. “Their professionalism and service can’t be beat,” says Bradley. Ready to build your custom home with Cockrum Construction? SouthStar Bank provides financing for lot purchase and construction with one-time-close. If your dream home is on acreage or otherwise unique, look to Kevin Kelly and the team of expert lenders [CC1] who specialize in flexible, common-sense financial solutions to meet your needs. CONTACTS Cockrum Custom Homes 200 Sedro Trail  |  Georgetown, TX 78633 sales@cockrumhomes.com 512.930.1130 SouthStar Bank 4535 Williams Dr.  |  Georgetown, TX 78633 512.688.5093 Jesica Garza, Vice President & Branch Executive | NMLS# 1508061 jesica.garza@southstarbank.com | m: 512.966.7342 Tina Zander Assistant Vice President & Branch Manager tina.zander@southstarbank.com  |  m: 512.217.7605

Congratulations Blake Feste! New Senior Credit Officer

Congratulations to Blake Feste, recently promoted to Senior Credit Officer! Blake has been a part of the SouthStar Bank team since 2017 and was previously an employee of former Lone Star Bank from 2013 to 2015. Blake has excelled in his role at the bank to uphold the overall quality of the Bank’s credit extension. He will continue to provide support and direction in loan policies and procedures, working with Credit Analysts and Regional Credit Managers to promote loan growth while balancing risk controls for the bank. Outside of work, Blake held a position as Co-Chair of Programs on the board for the Young Men’s Business League of Austin for 5 years. Blake and YMBL worked to raise money each year to send low-income youth to summer camp, assisting approximately 1,000 kids each year. As of 2022, he is an Alumni Member but continues to be heavily involved in the efforts of the non-profit organization. Blake and his wife, Ellen, live in Northwest Austin with their 3-year-old son, Liam. They enjoy traveling and cheering on his alma mater, the TCU Horned Frogs, during football season. Member FDIC | Equal Housing Lender | NMLS# 683300

Employee Spotlight- Marci Clanin

Marci Clanin, Portfolio Manager | SouthStar Bank Georgetown A member of the SouthStar Bank Georgetown team, Marci Clanin is a Portfolio Manager for the lending department. An alumna of The University of Texas at Austin, Marci joined SouthStar Bank earlier this year. Since she is still new to the industry, Marci’s favorite aspects of her job are the constant learning and fast-paced environment. When Marci is not at work, she manages her other full-time job as a mom to her 12-year-old son and 10-year-old daughter. In her spare time, she enjoys reading and catching up on her favorite reality tv shows. Two surprising items on Marci’s bucket list are cage diving with sharks and owning a full-sized pig that she would name Chet. Marci Clanin NMLS# 2068290

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