Fra Noi Embrace Your Inner Italian
Hi, my name is Renato (Ron) Ricchio and I am the new mortgage columnist for Fra Noi.
I am the one of five sons of Francesco and Annunziata Ricchio, Calabrese immigrants who came to the United States in 1963. My parents have been a tremendous inspiration and role models for me and my brothers. The righteousness and integrity that they lived by and taught us are priceless gifts that shaped our lives.
I am a 1991 De Paul graduate with a B.S. in finance. Finance has always amazed me, and I’ve wanted always to be involved in some capacity. I was offered a position at a mortgage company and began my career the day after my last day of school.
I decided to become a mortgage broker because of the many different aspects of business that come into play. Marketing, finance, economics, and bond and equity markets all are part of my day-to-day operations. Even geopolitical events affect what happens with interest rates, most recently the challenges in Europe.
I have been in the mortgage industry for more than two decades, and have run my own company, Chicagoland Home Mortgage Services, since 2001. We offer conventional, jumbo, FHA and VA loans for residential properties. This includes 1 to 4 units, condos and townhomes.
I look to provide exceptional service and pricing to my customers that will hopefully build relationships for life. One of the major advantages of being a mortgage broker is our pricing.
As a mortgage broker, we can offer better rates than major banks. Big banks have to make a certain margin on every loan or they will not do the mortgage. As a mortgage broker, our margins are lower, and many times, I can place a borrower at the same bank for a lower rate as opposed to going to the bank directly.
In the past three years, the mortgage industry has experienced some massive changes to underwriting, appraisals and product offerings. We are currently awaiting some additional changes that could impact and affect tens of thousands of homeowners that are desperately looking to refinance.
My goal is to help the average reader navigate the mortgage maze that has now become the norm in our industry. I look forward to sharing my expertise with you!
