Immigrant broker carves out his own piece of the American Dream

“Even though we prepared, it was a little too fast,” he said of the sudden industry shifts after stunning levels of home refinancing amid past lower interest rates. “We’re constantly making adjustments, but I still feel positive because fundamentally we are very strong.”

Undeterred by the changes in the landscape, Nguyen said he derives rewards in continuing to help people amid more uncertain times. “I love helping other people,” he said, noting that more than 50% of his clientele also are Vietnamese. “They like us because we are alike,” he said. But he’s not resting on those laurels either: “Over the last few years, a lot of people are getting their license and becoming mortgage professionals,” the father of three said. “There’s a lot more competition now.”

Rewards he still derives are inherent to his chosen industry, he suggested. “I love helping other people. I love helping them save money on getting their loans and bringing the keys to their house and making sure they’re happy. I know that people are struggling now with home prices so high and interest rates also so high, so whatever I can do to help them out is my motivation. I enjoy it. Very rewarding.”

The current focus on non-QM adds to the inherent rewards of mortgage work in further helping people secure homes even though they may have not known they would qualify, Nguyen said. “A lot of consumers are not educated. They didn’t know they could buy a home with a non-QM loan. So it’s good being in a position to help other people.”

He and his wife have prepared their children – ages 15, 14 and 12 – for the future as well. “I know that in California more than a third of the people speak Spanish,” he said. “I wanted my kids to speak Spanish, so I put them in Spanish immersion school so now, all three are fluent in three languages. For sure, one of them will follow in my footsteps but with the ability to speak three languages, they will all be able to do a better job than I have.”