Senior Project Reflection

(1) Positive Statement

What are you most proud of in your Block Presentation and/or your senior project? Why?

For my block presentation I would say being able to talk about something just by yourself for 1 hour is pretty impressive and also presenting in front of Pittman. I am glad I was able to get the name tags worked out *shoutout to Sarah in the copy and print department at Office Depot* because those were a hassle to work with as well as my posters. A major thing was being able to create an activity it literally took me a thousand times to get it perfect. 


For Senior Project I would say being able to leave the school with way more knowledge than ever is a magnificent factor. This is my last project for highschool that I've poured my blood, sweat, and guts over to accomplish a life time achievement. Makes me sad to think this is going to end a 4 year journey to start a new one all over again. 

(2) Questions to Consider

a.     What assessment would you give yourself on your Block Presentation (self-assessment)?

AP

b.     What assessment would you give yourself on your overall senior project (self-assessment)?

AP 

(3) What worked for you in your senior project?

Understanding my topic inside and out because without knowing what the heck you're talking about in your presentation ( in which I saw some seniors do ) you will not pass. That is the whole point of senior project, to show the ability of given the freedom of choosing a topic you are interested in and being able to talk about it with knowledge and authority. 

(4) (What didn't work) If you had a time machine, what would have you done differently to improve your senior project if you could go back in time?

BEING MIND FULL OF TOPIC CHANGES AND DOING BETTER RESEARCH. I did around 75 research counts I want to say and probably 25 of those sources are pretty valid. I would just be mind full in choosing a topic because I really wanted to do accounting but I am not CPA certified so I was not able to begin that course at all so it go shot down right away. 
(5) Finding Value

How has the senior project been helpful to you in your future endeavors?   Be specific and use examples.

Never giving up on something you love. This project was a baby at first given to us and we were told that we will have to present on this topic (baby) to pass senior year. At first we were all scared, intimidated, and worried, but we all became one with out topic. Some are going to persue their topics others were to pass, but knowing all this information about one tiny subject of many shows the importance of what researching and Googling is all about. 

Blog 21: Mentorship

Mentorship

LIA Response to blog:
    Literal
·     Log of specific hours with a total and a description of your duties updated on the right hand side of your blog
https://docs.google.com/spreadsheet/ccc?key=0AvWMHldBwtI5dGl3cTdQaTRNVVU5Z1ZxQjJfWnFjdnc#gid=0

·     Mariana Gonzalez - Source One Finance
    Interpretive
     What is the most important thing you gained from this experience? Why?
The most important thing I have gained from this experience is reading between the lines of every contract signed. Knowing that as a future CSU college student, I'm going to borrowing ridiculous amounts of money from federal loans and it's kind of scary when every borrower promises different things. Just from hearing stories and the videos we watch in class it is real easy to slip and get caught in a trap of debt fast. By learning from a loan officer point of view, I see the different tactics clients use in order to lock in a low interest rate.
   Applied
     How has what you've done helped you to answer your EQ?  Please explain.
Referrals are what essentially drives the business of a loan officer. By receiving a lot of referrals means you're doing something right with a business partner, but if you aren't receiving a lot of business that's where you need to look and see what is wrong. My mentor, Mariana, has worked with previous loan processing businesses that have failed because of simple mistakes which looses the ability of maximizing any profit received,

Exit Interview

Title:  Exit Interview
Label:  Exit Interview
Due Date:  Tuesday April 29 by 8AM

Content:

(1) What is your essential question and answers?  What is your best answer and why?

Answer 1 - Referrals help maximize profit by promoting their business over others.

Answer 2 - By having an effective communication between the loan officer and borrower, your business can process loans more efficiently.

Answer 3 - Loan officers choose to advertise in other local small business to show that their business has affordable rates and accepts any loan. 

Answer 1 - because it answers my EQ of maximizing profit. Referrals help significantly when trying to expand your business.

(2) What process did you take to arrive at this answer?

It probably took me until January to find my answer 1. When exploring for the actual definition of loan officer on investopedia.com, there referrals was the one word that kept appearing everywhere. Then towards my second interview my mentor mentioned referrals are a way she receives many loans.

(3) What problems did you face?  How did you resolve them?

The problems I faced where mostly topic changes. My changes when from Accounting>Real Estate>Loan Processor>Loan Officer. I resolved them just by adapting. They were generally in the same field, but adjusting the first time was the worst experience because I am interested in the field of accounting. 

(4) What are the two most significant sources you used to answer your essential question and why?

Mentors - Mariana and Maria because they actually have experience in the field. 
Interviews #2,3,4 - Interviews were the most informational because it was the only time where I was able to sit one on one with mentor and ask questions about things I've seen at my mentorship 
The United Small Business Administration - this source helped by showing techniques of how to increase referrals and going to the specifics of running lending business all run my an official government website 

Bronco

After many conscience decisions I am going the same path way of my cousin as an accountant and staying with Cal Poly Pomona. I love how I constantly call for my application get a call back that things are missing and dealing with all that shenanigans. I'm just happy to get the good news because I was literally working at Burger King and my dad pulled up to the drive through window to tell me that I got a call of acceptance from Cal Poly. I wanted to hug him personally, but I was at work and honestly my boss doesn't give 2 cows on what's going on with your life. That's a check on my bucket list, " Get into dream school".

Blog 19: Independent Component 2

LITERAL
(a) “I, David Lara, affirm that I completed my independent component which represents 30 hours of work.”
(b) Cite your source regarding who or what article or book helped you complete the independent component
1.) Pandeloglou, M, Pelettier, R 2009, Communication in the workplace, DEEWR, Canberra.

2.) Stiglitz, Joseph E. "Interpreting the Causes of the Great Recession of 2008."Financial System and Macroeconomic Resilience: Revisited. Bank for International Settlements (2010).

3.) Pitrelli, Nico, Federica Manzoli, and Barbara Montolli. "Science in advertising: uses and consumptions in the Italian press." Public Understanding of science15.2 (2006): 207-220.

4.) Gordon, Jason, and Rosanne L. Hartman. "Affinity-seeking strategies and open communication in peer workplace relationships." Atlantic Journal of Communication 17.3 (2009): 115-125.

5.) Carter, Sara, et al. "Gender, entrepreneurship, and bank lending: the criteria and processes used by bank loan officers in assessing applications."Entrepreneurship Theory and Practice 31.3 (2007): 427-444.

6.) Ivashina, Victoria, and David Scharfstein. "Bank lending during the financial crisis of 2008." Journal of Financial economics 97.3 (2010): 319-338.

7.) Broadbent, David F., et al. "Method and apparatus for a mortgage loan management system." U.S. Patent No. 6,985,886. 10 Jan. 2006.

8.) Tashman, Heather M. "Subprime Lending Industry: An Industry in Crisis."Banking LJ 124 (2007): 407.

9.) Mendling, Jan. Detection and prediction of errors in EPC business process models. Diss. Wirtschaftsuniversität Wien, 2007. 

10.) Iossa, Elisabetta, and Giuliana Palumbo. "Over-optimism and lender liability in the consumer credit market." Oxford Economic Papers 62.2 (2010): 374-394.

(c) Provide a digital spreadsheet (aka log of the 30 hours).  

https://docs.google.com/spreadsheet/ccc?key=0AvWMHldBwtI5dEoxUWVUcWJmSWlSVnB6V0hJeDVNUEE&usp=sharing

(d) Explanation of what you completed.   
INTERPRETIVE
Defend your work and explain how the significant parts of your component and how it demonstrates 30 hours of work.   Provide evidence (photos, transcript, art work, videos, etc) of the 30 hours of work.  
APPLIED

 For my independent component I used 10 additional pieces of research as well as mentor-ship as evidence for my 30 hours of work. My answers 2 and 3 came based of the interviews, mentor-ship, and experiences I had working with Mrs. Maria Paez.
My research consists of resources backing up my answers 2 and 3 that Maria helped me with. I took 30 hours from my mentor-ship and put it as my independent component 2. During mentor-ship Maria had me organize clients information, clock in some data into their lending software, and update clients information. I was able to see how everything was processed in the office, but not allowed to take photos or share any information due to privacy issues. Throughout the course of mentoring she gave me great advice and encouraged me to see the potential I can be as a loan officer. I am blessed because Mrs. Paez has had the experience of being a mentor with students from other high schools and  is able to show me every aspect from management to the process itself.

How did the component help you answer your EQ? Please include specific examples to illustrate how it helped.

My answers 2 and 3 (communication and advertising) came during the first couple of weeks of mentorship. Mrs. Paez gave me the whole break down of how her team of processors and other loan officers get the job done for their clients. One major incentive she uses that is successful drawing in clients is advertising," every day that goes past a week of when the loan is being put together, Home Funding Corp. pays you 100$". I was astonished at first because coming from a previous loan, that is not easy at all. Maria knew that as well, so that is why she has her team do different stages of the loan so its all split up evenly and can be quickly approved for the clients. That's how my answer, communication, was founded.
My answer 3, advertising, was finalized when Maria explained her 100$ payment each day and my 4th interview she had showed me different methods Home Funding Corp. chooses to advertise their business.

Monthly Post

This month of March acceptance letters are coming up soon. I've been so far accepted to Cal Poly Pomona, St. John's University, Menlo College, and La Verne. Thinking about going out of state to St. Johns in New York. My parents however don't think of that option at all. There was an incident in my house already in which I'm getting calls from St. John congratulating me on my acceptance and telling my valuable information for incoming Freshmen and my parents just delete them in front of me. I thought it was cute at first, but now its ridiculous. I saw 3 mailed letters to me from St. John in the trashcan conviently when I was chosen in my house to take out the trash. I don't know where I'm going yet, but its my conscience decision on where I choose to lead my future.

Blog 18: Third Answer

EQ: What is the best way to maximize profit as a loan officer?

Answer #3: Loan officers choose effective ways to advertise to local evidence by proving that their business has affordable rates and accepts any loan.

1.) Using past loans as evidence - Using printed sources and mailing to local residents
2.) Forming a relationship with banks to gain more business - If applicants cant afford the bank's rate, they can be referred to us so they can still receive a loan.
3.) Using small local businesses to advertise - By advertising in other small businesses you spread the word of your business without spending a penny.

Research:


29 - "Advertising: The Basics". http://www.sba.gov/content/advertising-basics. Web. 22 Jan 2014.
30 - Ward, Susan. "Ten Low-Cost Ways to Promote Your Business". http://sbinfocanada.about.com/cs/marketing/a/bizpromotion.htm. Web. 22 Jan 2014.
44 - Flew, T. (2005). Advertising cultures. Australasian Marketing Journal, 13(1), 68-70. Retrieved from http://search.proquest.com/docview/199329333?accountid=10357

Blog 17: Interview 4 Questions

1.) How does Home Funding Corp. process loans quicker?

2.) What sites do you use to advertise?

3.) How is your experience so far as a Loan Officer?

4.) During the year 2008-2009, What was it that kept your business alive?

5.) Where there any changes that effected your business after the 2008 Crisis?

6.) What seems to be the common mistake when people file for a loan?

7.) What experiences have you encountered while working in Home Funding Corp.?

8.) What is the difference between a mortgage broker and a direct lender?

9.) How important is the loan to value ratio?

10.) What is the difference between interest rate & APR?

11.) Why should I refinance my home?

12.) How are you able to lock an interest rate?

13.) Do you personally think a broker is easier then a direct lender? Cheaper?

14.) How much money will I have to come up with to purchase a home?

15.) What are major consequences on defaulting on a loan?

16.) Is a VA Loan better than a conventional loan?

17.) Why doesn't your company affiliate with Escrow Companies?

18.) As a first time borrower does credit score really matter?

19.) Does having an insurance title beneficial in a loan?

20.) How are rates determined?

Additional Post 7 - UNDER NEW MANAGEMENT

I finally started to mentor at Home Funding Corp with my mentor Maria Paez and Ofelia Prieto 2 experienced loan officers. I got to meet her along with her co-workers that all help each other out processing loans. Funny thing is that there is a sign that does not allow escrow companies or 3rd party companies to enter the building. Even when escrow companies are needed to finalize loans. Maria just showed me the place and introduced me around the office as well as showed me another office which is a Century 21 agency that helps bring in her clients for a loan. She courteously gave me a folder to help answer any common questions that brings up during a loan and shows ways on how she gets her name known around town. Plus some awesome tricks to draw in clients because family is not always going to get you business. Can't wait for the rest of the year to get to know her.

Blog 16: Advisory Meeting #2

Answer 2: Communication

1.) In order to get a referral so your business can thrive off of commission, you need a strong communication between the customer and service provider.

2.) As Loan Officer you do not only manage a business, but a team of processors and handlers in which communication is key to running the business smoothly.

3.) Having communication in a business with not only your employees, but also with your customers upgrades your business to a whole new level.

http://www.sixsigmaonline.org/

http://www.mbda.gov/

http://www.businessinsider.com/
http://www.barnesandnoble.com/listing/2681388289188?r=1&cm_mmca2=pla&cm_mmc=GooglePLA-_-Book_15To24-_-Q000000633-_-2681388289188

Blog 15: Independent Component 2 Approval

1.) For my 30 hours of independent I'm going to be working with Juana Maria Paez at Home funding corp. She is a certified loan officer that specializes in home loans as well as a previous business owner of her own loan firm. I plan to mentor with her because she has the experience of showing a past alumni the ropes she's glad to do it for me.

2.) I plan to show my evidence with photos mainly because obviously I can't show loans we have done over that internet.

3.) I plan to explore my topic by mentoring with Maria and her superiors on how it's like running the business. Obviously it's quite the challenge with the housing market currently and how stubborn banks are to accept loans, so I want to see how they are able to make a living and work with the banks to get loans approved.

Blog 14: Independent Component 1

LITERAL
(a) "I , David Lara, affirm that I completed my independent component which represents 30 hours of work".

(b) Cite your source regarding who or what article or book helped you complete the independent component
My source is Mariana Gonzalez from Source One Finance in Pasadena, CA. She taught me the ins and outs of being a loan processor. She gave me dummy accounts that I was able to practice off of. As a final test I did her old loan all over again as my final independent component.
(c) Provide a digital spreadsheet (aka log of the 30 hours).   Post it next to your mentorship log.
(d) Explanation of what you completed.  

INTERPRETIVE
Defend your work and explain how the significant parts of your component and how it demonstrates 30 hours of work.   Provide evidence (photos, transcript, art work, videos, etc) of the 30 hours of work.

My final perfected loan represents my 30 hours of work. All other loans were terminated because they weren't done correctly and I can't really show loans that present false information.  

APPLIED
How did the component help you understand the foundation of your topic better?  Please include specific examples to illustrate how it helped.

This helped with my first answer on referrals because all loans that go through Source One Finance are based on past costumers or friends and families of employees. It also showed how much stress and paper work goes into a loan because of the 2008 crisis. Banks are stubborn to work with now a days and paying off a loan is way harder then trying to start one.

Lesson 2 Reflection

1. Positive Statement

What are you most proud of in your Lesson 2 Presentation and why?
I am proud that I got a lot of feedback from my presentation because yes I do know that Loan Officer is not a fun and exciting life, but there are many benefits and lessons to teach.

2. Questions to Consider
       a.     What assessment would you give yourself on your Lesson 2 Presentation (self-assessment)?


Solid P

       b.     Explain why you deserve that grade using evidence from the Lesson 2 component contract.

Siting your sources seems to have a big failure among the seniors. I cited 3 of my sources investopedia.com, American Psychological Association, and my interview.   


3. What worked for you in your Lesson 2?
Creating the hook activity and my actual activity that made people get out of their seat and move around.

4.  (What didn't work) If you had a time machine, what would you have done differently to improve your Lesson 2?
Giving a little bit more of a background on what the benefits are to being a loan officer.
5. Finding Value
What do you think your answer #2 is going to be?  
Communication

Additional Post 6

So there was an error that occurred with my topic which lead to a topic change. I assume it was for the best since as a loan processor you just work with clients all day, pushing pens, and making dough. My topic change was kind of an upgrade actually from the working force of loan processors to the mangers of the industry which are the Loan Officers. Loan Officers are "Representatives of banks, credit unions and other financial institutions that find and assist borrowers in acquiring loans. Advise borrowers on financial status and methods of payments.

1. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
2. Meet with applicants to obtain information for loan applications and to answer questions about the process.
3. Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans."

-investopedia.com 

Hopefully this topic change leads to the best for my future 2-hour as SECOND TO LAST. #toolatetoswitch 

Blog 12: Third Interview Questions

1.) What ways do you advertise around the area?
2.) What type of agencies do you contact to help you advertise your business?
3.) What kind of specific areas do you advertise at?
4.) Are there reference media sites or blogs that help your business?
5.) Are there classes or training recommended to help management?
6.) Do you limit yourself to certain loan advertising?
7.) What were your past methods of advertising?
8.) Are there certain advertisements that you recommend? stay away from?
9.) What certain tactics do you use when sweet talking customers in trusting your company?
10.) What makes Source One Finance unique?