Ellen Cooper is the CEO of The Credit Department. She and her husband of 35 years, reside in a small town in southern Arizona where they have raised their three children. In 1995 Ellen started in the mortgage profession as a loan officer’s assistant and quickly moved on to become a branch manager, while remaining a producing loan officer. Later, she became a mortgage broker and opened her own company.
In 2009, due to the mortgage crisis, Ellen found it necessary to join ranks with a bank. With the turbulent mortgage environment, she decided if she were to survive, she needed to increase her skills. Since a lot of the former loan product had dried up, and with time on her hands, she began to study credit. Spending hours at a time on the internet, she took advantage of the Mortgage Insurance training classes that were offered, and scoured FNMA, FHA, VA, and USDA guidelines trying to better acquaint herself with both guidelines and exceptions to loan rules as they pertain to credit. She also spent as much time as underwriters would allow, discussing view points and how an underwriter would view different scenarios. Looking back, she says 2009 became a pivotal point in her career, and not for the obvious reasons. In 2009 her loan volume saw a good increase, when most in the industry saw huge declines. 2010 and forward she has consistently seen good growth. When asked the reason, she said because for the first time in her career, she had become a true professional. She understood her vocation. Prior to 2009, there was a loan product for anybody that wanted a loan. With all the industry changes, it became more difficult to get a qualified borrower. This required a change in how she did business, or she would have been out of a job.
Another unanticipated outcome was when Ellen found that while she was good at originating mortgages, she was passionate about helping those hurt by the crash. Ellen found an affinity with those struggling and wanted to put her knowledge to use. She desired to help those without the knowledge needed to help themselves. Ellen sold her branch and began working on what eventually became The Credit Department.
When asked, Ellen said, “I have had good credit and bad credit. Good credit is a lot more fun, and a lot less stressful. I want a person that has utilized our services to realize their time with us enabled them to move on to make better decisions for themselves and their families. To learn to use credit as a tool instead of a crutch.”