Adding to the complexity of the deal, the target home was a planned unit development – known in mortgage nomenclature by its acronym, PUD. This is a special zoning classification that was adopted as an amendment to the zoning rules for the creation of a new residential or commercial development. Once approved by the City Council, the zoning change passes to any future owners. “BorrowSmart was built for markets like Chicago and Detroit,” Fowler explained. “I’m in Chicago, Cook County. FHA-approved PUD and condominiums are very hard to find. Borrowers bought PUD, so the stars lined up perfectly with her. I absolutely love the program.” Fowler is in her third year as a mortgage loan officer and has also been licensed as a real estate broker for four years. In addition, she is also a pre-licensed teacher. “So I do everything I can to bring real estate brokers into the industry, to educate them about loan types to get clients to close. I teach brokers, I sell real estate, and most importantly I do mortgages.” Fowler said she has derived a great deal of fulfillment from her assistance to the veteran military borrower, and considers the case to be the high point of her career to date. “I think it was probably the highlight of my career,” she said. “We’re not in this for the highest loan amount or the highest purchase price. We’re here to make a difference in people’s lives. She’s buying a home for the first time, and she didn’t think she could do it. It was a very scary experience simply because she didn’t have a lot of interest in making a life-altering decision. The fact that she trusted me with that, I’ll be forever grateful.”
