CEO Spotlight: Q&A with Eddy Perez, President of Equity Prime Mortgage

Eddy Perez, CMB, is President and CEO of Equity Prime Mortgage based in Atlanta, Georgia where he oversees overall operations, sales, revenue, marketing, compliance, and technology. As co-founder of Equity Prime Mortgage, recognized as part of the Inc. 5000, he has excelled within the mortgage industry being named one of the nation’s top mortgage bankers, recognized in National Mortgage Professionals Magazine’s “40 Most Influential Mortgage Professionals under 40.”

Throughout his distinguished career, he has held multiple executive-level positions. Prior to co-founding Equity Prime Mortgage, in 2008, he operated the top producing office for Global Mortgage, Inc. He holds the prestigious Certified Mortgage Banker (CMB) designation which he earned in October 2014. Perez is the chairman of the MORPAC, panelist for MBA future leaders’ program, holds a seat on the Board of Directors with the MBA, and now co-chair of the new MBA affordable housing council.

1. How does Equity Prime Mortgage set itself apart from its competitors?
   One of the ways that we set ourselves apart is our general focus on the first-time homebuyer. We walk a great balance of being consumer-centric, as well as employee-centric because we understand without consumers, employees do not have a job and vice versa. Our focus on the first-time homebuyer and growing those market shares has lent back to a lot of diversity in communities – especially with the changing demographics in the country, so we are ahead of the curve. This focus is what sets us apart!
2. How has EPM Responded to the COVID-19 Pandemic?
   We have attempted to stay positive and empathetic, listening, and providing when we can. I feel really pleased with how we have been able to adapt and grow during this year. We have provided employees an opportunity to work from home, encourage wearing masks within the office. We have provided masks, hand sanitizer, and temperature checks upon arrival. Other things that we are doing is providing catered lunch each day, providing gas cards to employees. The goal is to minimize exposure. We empower everyone to be self-aware and encourage them to speak up if they are not feeling safe. Safety is an important aspect right now. Do employees feel safe? This is an important question to be asking. Our goal is to create a space that is safe but fun to work in. We have been able to accomplish this and will continue as we move forward together.
3. What are EPM’s plans for the rest of 2020?
   We are going to keep improving. We are continuing to invest in technology, invest in people. Overall, our plan is to invest in making people better.
4. How can EPM help you consolidate your debt?
   It really depends on the type of debt you have. I would not advise consolidating your car payments in your debt because it is depreciating. However, if you have credit card debt or in need of home improvement – things of that nature – using mortgage debt, since it is very cheap and has tax advantages, is very economically sound. It can help you build wealth. One option is a cash-out refinance. It is very advantageous to building that right now and aiding you on your path of financial success.
5. What services does EPM offer, first-time homebuyers?
   Besides just mortgage products, there are a lot of offerings for first time home buyers. It is about putting them in the best position. One tactic is advising the buyer not to buy too much house. A big spacious house is always one of the things everyone wants. I get it; I understand having been a first-time homebuyer. You want as much house as you can get. Even going over by 10-15 thousand does not seem like it is a bigger deal, but it is. I am happy to say that we have the right people in place to be able to help the first time home buyers get exactly what they need within their range without taking advantage of the home buyer.
6. What is the process like for opening your own office with EPM?
   The process begins with talking to our business development team. They will identify your production and deem if you are a model fit. We also want to make sure it fits in our demographics of what we serve better, especially the first-time homebuyer.  Our belief system is very simple but that is one part of the segment. Everybody will always be buying houses and how are you helping empower those people. That is the key.
7. What is your advice on how one can be an effective leader in your industry?
   An effective leader needs to listen until their ears bleed. As well as staying on top of current events and by reading 6-10 hours a week. It allows you to see things from a larger perspective. People who were great visionaries studied and looked for what was possible saw the outcome and went for it. More importantly, they were ones that would challenge the status quo. But it all goes back to reading, preparation, and really investing in yourself to make yourself a better person. The opportunities will show themselves.
8. What advice do you have for those looking to discover their passion?
   What I have really found about people’s passions is that it looks different within than what it looks like on the surface. Somebody could say that their passion is sports. Maybe it was their outlet because they were lonely. Maybe it was something they did with one of their parents and that parent was one of their role models. Over time, it became their passion, but it is less about the sport and more about the emotional connection to it. Finding your passions is finding what is deep down inside of yourself.  The first step in finding your passions is to find your purpose because then it will translate into your passion. The best way to find it is to be completely honest in your self-evaluation and then constant re-assessment. It is about tuning out what the media tries to tell you to be or what other people in your life try to tell you to be; it’s really up to you to define on your own. But once you find your purpose, turn it into your passion! After that, I tell people that whatever it is you do try to be the best and that will continue to fuel your passion.

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