Spotlight on the St. Louis Office

The Midwest Equity Mortgage - St Louis office serves St. Louis, St Charles, and Jefferson Counties as well as other areas across the state of Missouri. We are available for appointments in office, over the telephone, or in your home or place of business.

Scott Carpenter, Branch Manager

Scott Carpenter

Scott graduated from Hannibal-LaGrange University in Hannibal Missouri in 1994, where he was a student athlete and played on the basketball team.  After graduating with a BS degree in Business, he pursued a career in consumer finance, and in 1997 transitioned his career into Mortgage Banking.  Scott has been a leader in the St. Louis mortgage industry for over seventeen years. He and his wife Nicole have one son: Haden, and reside in Wildwood, MO.

Common Title Insurance Questions...& Answers!

If you've ever purchased a home, it's possible you've heard title insurance discussed however there is often some confusion about this vital part of the home buying process.

What Does a Title Company Do?

When you make an offer to purchase a home - how can you be sure that there are no issues or problems with the home's title? How do you know that the seller actually owns the property? A title company will run a title search on the property to answer these questions. 

Lenders require a title search to prevent fraudulent sales. A title search will ensure that the seller is the owner of the home and attempts to uncover an "encumbrances" that may be on title. Encumbrances include any liens (legal claims) against the property filed by either creditors in an attempt to collect unpaid bills or by the IRS for unpaid taxes. Contractors liens, unpaid homeowner dues and unpaid child support are all examples of other possible issues. These encumbrances must be resolved (paid) either before or at closing. 

The title professional will search the public records which involves reviewing land records that go back many years. More than one third of all title searches reveal a title problem that title professionals will need to fix before you can close. This should not only be important to lenders but also to buyers, as in many cases, encumbrances follow the property - not the owner.

[NEWS] As Tax Day Approaches - Get 6 Tips from the Experts

As we near the dreaded April 15th, there are many people who have still yet to tackle their taxes. As Charles Schwab published earlier this month, "There's no question that preparing your tax return can be a daunting challenge.  And the more complex your finances, the more complex your tax return."

CFP President, Carrie Schwab-Pomerantz points out six essential tips for preparing for tax day.

1. Have identification number handy

This can include key pieces of information such as birthdays and social security or tax ID numbers for yourself as well as any/all dependents and co-filers.

2. Collect documents that show earnings

Depending on your income type, you may need to gather several different kinds of forms.

• Regular employment = W-2 form from employer
• Income from interest, dividends, capital gains, freelance work or Social Security = 1099 form (copy sent to the IRS by the issuing institution)
• Self-employment or alimony = no specific form but you'll need either bank statements or personal records

You should have received these forms in January or February so be sure to follow-up if anything has not arrived. Remember that just because you did not receive a form, you must still include all income on your tax return.

Spotlight on the Chicago Office

The Midwest Equity Mortgage - Chicago office serves all of Chicagoland as well as outlying areas in Cook, Lake and Dupage counties as well as the rest of the state of Illinois. We are available for appointments in office, over the telephone, or in your home or place of business.

Joe Paterna, Branch Manager – Chicago

Joe Paterna

Joe received his BA from Lake Forest College and went on to achieve a MA from the University Of Massachusetts. Joe grew up in Boston where he excelled on the handball court and is a member of the South Boston Hall of Fame. He now serves as the Branch Manager of our Chicago office using his experience and knowledge to promote the Midwest Equity vision. Joe and his wife, Carrie are happy to be back “home” in Chicago.Joe and his wife , Carrie reside in Oak Park and have one child, Angelina.

Joe oversees all daily operations of our Oak Brook Office. Joe has extensive mortgage banking experience and has originated hundreds of loans himself. Should you have any questions about your loan application which cannot be answered by your loan officer, or should you desire to reach out to Joe about anything, he is available anytime. Joe can be contacted at (630) 537-1701. 

What is the Mortgage V.I.P. Employee Benefit Program?

The Mortgage V.I.P. Employee Benefit program from Midwest Equity Mortgage is a unique option to give your company a stronger, more competitive benefit program without costing you more money.

What is the Mortgage V.I.P. Employee Benefit Program?

This highly competitive program allows a company to add mortgage loan assistance for their employees as part of their benefit package. 

Press Release - Len Tortorice hired as Director of Business Development

Len Tortorice

For Immediate Release - Midwest Equity Mortgage, LLC (MEM), a direct to consumer retail mortgage lender, welcomes Len Tortorice to the role of Director of Business Development. Tortorice has over 30 years of industry experience in many aspects of the mortgage industry and more recently a Divisional Manager for a large wholesale lender.

Len will be focusing specifically on recruiting Senior Loan Originators as well as origination teams/branches within the states of IL, WI, KS, MO, IN, CA, WA and the FL.   MEM has grown significantly over the last 24 months as a direct result of its Originators’ success and offers a combination of resources and compensation packages which are second to none.

Please contact Len at len@midwestequity.com to make a confidential inquiry of opportunity.   

If you have a mortgage AND a car loan, student loan or credit card debt - you can reduce your monthly costs with a SmartREFi™

Midwest Equity Mortgage

855-767-3434 | MidwestEquity.com

Now more than ever, you need to work with someone you can trust. Ask us about our A+ rating from the Better Business Bureau and our incredible complaint-free record and you will know: you have found your lender! Why are you still waiting for the “big bank” to call you back? Get in touch with someone who cares-TODAY!

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4 Topics to Discuss with Your Loan Officer

You’re ready to buy or refinance – but whether this is your first or fourth loan – you may find that working with a loan officer to be confusing and difficult. Having a clear understanding of what you want and how to communicate with your mortgage professional is critical for success. To keep everything running smoothly – make sure you discuss the following topics with your loan officer.

1 - Communication Style

Mortgage professionals will communicate with you in a variety of ways including by phone, email and text. Some are tech savvy and others prefer traditional methods. The point is to be clear about what YOU prefer. If you respond more quickly to text messages versus voicemail - tell your loan officer. Often times, there are time sensitive issues that arise during the loan process, so it will make everyone happy if your loan officer knows how to get questions answered, additional documentation etc. in a timely manner.