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1st Mariner Mortgage

Help Your Credit Score - 1st Mariner Mortgage

A 1st Mariner Mortgage loan specialist explains the top five things that help improve your credit score.

1st Mariner Bank plans new era of growth in 2017

Small businesses may not be growing — or borrowing — fast enough to result in a boon for banks, said Arnie Danielson, a retired bank consultant who has followed 1st Mariner since its founding in 1995.

"They're certainly choosing the right strategy and doing all the right things, but at this stage there's just so little success in this area," Danielson said. "We're not finding the success stories."

The bank's managers say they are aware of the challenges ahead and are ready to meet them.

Kunisch thinks customer service gives 1st Mariner an opening to stand out from the pack. With that in mind, 1st Mariner in February brought on Drew McKone, who previously worked for M&T Bank and Capital One, to lead a more robust push for new accounts as director of retail banking.

The bank also shook up leadership at its 14 branches over the past year, bringing in 10 new branch managers, many of whom previously worked at larger banks. They will be tasked with making stronger inroads into local communities.

Here's how TRID is changing the mortgage industry

The form layout is better. The formulas used and the visual layout is much easier to digest. Simply put, everything fits on the form in a better-looking way than it was formatted before. At a glance, it is easy to see the estimated closing costs and cash to close figures. It’s good to have those numbers easily accessible to see what exactly needs to happen in order to do the deal from start to finish.

The information that is now included makes more sense. The current Good Faith Estimate does not show the total monthly payment or the total amount of cash you need to complete the transaction (including down payment, closing cost, prepaid costs, etc.). The TRID rule is basically adding those elements to the form.

The newly included items are broken down. The new form clearly states what each total is comprised of to ensure that the elements all add up to match what the total cost should be. The new rule is basically an attempt to improve or correct any faults with the current regulations.