Susan Clark, Mortgage Lender
Susan Clark is now helping customers in her role as Mortgage Lender at Merchants Bank in Winona, according to Sue Hovell, Director of Retail Banking Performance.
“Given her background, knowledge of the Winona market and her desire to provide customers with guidance and walk them the mortgage process from start to finish, we know Susan is an important addition to our growing Winona mortgage team,” Hovell said.
Clark has been serving Merchants Bank customers in a number of roles since 2003 and has been a Winona resident for most of her life. Her background includes finance, lending, and bank compliance. She is certified as an American Bankers Association Residential Mortgage Lender.
“With the wide variety of home financing options available and what seems like a mountain of paperwork before you start, it can be intimidating to know where to begin,” Clark said. “I can help, and look forward to making the process as clear and stress-free as possible for our customers. I truly want to be there every step of the way.”
Clark points out that her experience as part of their family business allows her to understand the complexities self-employment can create when applying for a home mortgage. Clark volunteers her time throughout the community in support of area schools as well as many non-profit organizations.
Dawn Stenberg, Mortgage Lender
Dawn Stenberg has started as a mortgage lender at Merchants Bank, according to Sue Hovell, Director of Retail Banking Performance.
“We are excited to have Dawn as part of our team of lenders. She is well known and well respected in our market and fully understands the process that makes Merchants Bank stand out to all of its customers,”Hovell said. “We are looking forward to what she will bring to everyone she serves.”
Stenberg has worked as a mortgage lender previously, both with Wells Fargo in the Winona market, and the John O Melby Bank in Whitehall, WI. She has more than eight years of mortgage experience and more than 14 years of banking experience. Stenberg has been with the Merchants Bank organization since 2012, where she has worked both as a mortgage underwriter and a mortgage coordinator. She said that experience will be especially helpful in her new position.
“Understanding the industry guidelines and processes will be a benefit to customers in that I will be able to guide them so they get the mortgage product that best fits their needs. My goal is to make the experience as seamless as possible for customers,” Stenberg said. “There are a number of reasons Merchants Bank is the market leader, and I look forward to sharing those with customers.”
Learn more about mortgage loans at Merchants Bank by visiting our website.
Katie Lund, Mortgage Lender
Katie Lund has joined Merchants Bank in Rochester as a Mortgage Lender, according to John Doyle, President of Merchants Bank in Rochester.
Lund has been part of the Merchants Bank team since 2008, when she joined Merchants Bank Equipment Finance (then known as Merchants Capital Resources). Since 2013, she has worked at Merchants Bank in Rosemount as a Mortgage Loan Coordinator.
“Katie brings a great deal of knowledge and experience with the mortgage origination process, which will be an immediate benefit to our customers,”Doyle said. “She puts the needs of our customers first, and she is dedicated to making sure those needs are met. I know people will enjoy working with her.”
Lund’s office will be at Merchants Bank’s Northwest Plaza location. She is a native of St. Charles, MN, and has recently moved to Rochester with her family.
“I’m familiar with the needs of the individuals and families who are part of the Rochester market,”Lund said. “I’m excited to help people realize their dreams of home ownership with the programs and support we can offer at Merchants. Given the very active Rochester housing market, I’m especially looking forward to helping people get pre-qualified for their loans, so they can be first in line when they make an offer on their next home.”
Changes to billing notices for first mortgages, second mortgages and home equity loans effective January 10, 2014
Due to new regulatory requirements that went into effect January 10, 2014, we are now required to provide additional billing information for our consumer mortgage loan customers.
Changes for those on automatic (ACH) payments: If your Merchants Bank mortgage payment is automatically deducted from your checking or savings account each month, you will now start receiving a billing notice as well.
We understand this change may cause questions. This statement is for information purposes only and your automatic payment will continue as in the past. While Merchants cannot legally allow you to opt out of receiving this billing notice, we do encourage you to contact Merchants Bank Loan Servicing at 800-765-2194 if you have questions and we’d be happy to walk you through the change.
Changes for those who use a coupon payment book: If you use a Coupon Payment Book to submit your Merchants Bank mortgage payment each month, you will be receiving a new coupon book after January 10, 2014. This new regulation requires banks to disclose additional information on mortgage loan coupons; therefore, we are required to provide you with a new coupon book. Please discard your old coupon book and begin using your new one when you receive it. Your payments are not changing, there is just additional information included, such as loan balance and interest rate, and the coupon format has changed slightly.
Again, we understand this may raise questions and we encourage you to contact Merchants Bank Loan Servicing at 800-765-2194 with any question you may have.