Working in the St. Louis mortgage industry for over 30 years, Marion D. Clark takes time to listen to her clients to gain a deep understanding of their goals and needs. Using her experience, Clark takes pride in providing exceptional service and guidance in a variety of home finance options including Conventional, FHA, MHDC and VA loan programs to discover the best option for their individual needs.
The 2010 recipient of the Metropolitan St. Louis Equal Housing Opportunity Council Open Door Award, Clark is an active member of the community, participating in organizations like Better Family Life, Beyond Housing and the Urban League of Metropolitan St. Louis.
“In an ever-changing financial market, both locally and far reaching, Eagle Bank is a community bank with over 100 years of stability and quality service,” Clark says. “I am proud to be working with a group of talented and trusted colleagues dedicated to helping our St. Louis community find stability within these turbulent times.”
The American asked her about some current issues in banking and lending from her perspective as an African-American banking professional.
The American: There have been decades of scandals about “redlining.” As a black lender, what can you do and have you done to counteract this legacy of discrimination?
Marion D. Clark: As a black lender I am very conscious of the legacy of discrimination. For that very reason, I consult with every client to discuss their concerns and needs. I also provide individual and group education.
The American: You must hear from black folks who doubt that they have a fair chance to get a fair loan. What do you tell such a person to convince them they have a fair chance to get a fair loan?
Marion D. Clark: Yes, there are African Americans that have that doubt up front that they will be approved for a home loan. This is a challenge, but I approach this, again, by listening to their concerns, letting them know Eagle Bank and Trust and I do care. I work very closely with the processing and underwriting departments, and our focus is to approve as many loans as possible.
The American: Let’s play “Borrowing for Dummies.” What are a few essential things you must know and do when seeking a loan.
Marion D. Clark: The three essential things that the borrower must know and do when seeking a loan is: credit, qualifying (debt-to-income ratios) and funds to close.
The American: You are a mortgage lender at a time when mortgage lending has made national headlines. What can and do you tell people scared to seek a mortgage because they have seen so many mortgages fail?
Marion D. Clark: Because of what has happened in the mortgage industry it’s very important to me to make sure they have an affordable mortgage loan program, and work with the people to make sure they are credit worthy. I hold their hand throughout the entire process, which causes a good experience and helps to get a loan closed.
