Border Bank

Meet Kelly Engstrom and Nicole Hjelden of Border Bank's Mortgage Department

Nicole:

I graduated from North Dakota State University with a Business Administration and Family Science/Child Development degree. At graduation time I didn’t know my path would lead me to banking, but it was a way to blend my two degrees. I have been in banking for over 30 years, working mainly in consumer lending; and with the recent merger, I switched solely to real estate lending. I always enjoy getting to know people, listening to their personal situations and trying to find a way to improve their financial or personal situations.

Kelly:

I graduated from Mayville State University with a Business Administration degree with specializations in finance, management, marketing and real estate, which are all areas I knew would help me in the banking industry. I have been in banking for over 15 years, now working specifically on real estate loans for over the last 10 years. My love of real estate started when I was young because my parents would always flip the houses we lived in. I lived in five different homes, plus one lake home, growing up while we were remodeling them, so we were constantly in a construction zone!

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What does Border Bank's mortgage department offer that homeowners may be unaware of?

Border Bank offers everything from lot loans to construction loans—to 30-year fixed-rate financing. We can finance your primary residence, second home or even an investment property. Since we are a smaller community bank, we can make the time tofocus on the customer experience. Communication is very important, making sure we are educating our clients, keeping them informed and always responding in a timely manner when our customers reach out to us with questions.

What are some critical aspects of working with a homebuilder that your team and Border Bank as a whole excel in?

We communicate with the builder just as much as the client does to keep everyone on the same page as the project is getting completed. The builders will issue the bank a construction estimate which breaks down the cost of supplies and labor; the bank will use those estimates to compare to the invoices they provide during the disbursement phase. This helps keep everyone organized and to show if there are differences in the cost to get further explanation from the builder. We want to keep as much communication between the builder and the bank so that there are no surprises at the end and funds come up short. We have had builders come to our office and visit with us and the client prior to the project starting; we have communicated through email and phone with builders anytime they have questions about the project or disbursements. We always want to stay in contact with all parties involved so the project runs smoothly and the homeowner is happy and satisfied when all is completed.

How can a homeowner prepare for a construction project? What tidbits will help make the whole journey more painless?

When we begin the discussions of a construction loan with clients, there are a few items we have them provide and cover:

• Plans and drawings of the home • Construction estimate from the builder - this will give the breakdown of the cost of the home. • Proof of down payment (20% is required) • Proof of overage funds (construction costs can increase with any changes, we want to know if the client has funds to draw from if needed) • Run tax estimates with specials so the client understands what their total annual tax payment could be once the home is constructed. • Run payment estimates with different terms (15 or 30 yr) to see which payment is comfortable for the client.

Walk me through the construction process with a client, how does it work?

Once the construction loan has been approved and signed by the client, the building project can begin. The builder will issue invoices to the client and the bank usually in phases of the building project. Once the client approves all the invoices, the bank will issue a cashier’s check to the builder for the amount invoiced. The bank will do an inspection of the project once that phase is completed before issuing funds for the next phase. The customer will pay interest only each month on the amount advanced on the construction line. If the client chooses to make some changes or upgrades during the building process, the builder will issue a change order and have that approved by the client and the bank to make sure there are enough funds to cover those changes. When the home is completed, we meet with our customer to start the process of rolling the construction loan into permanent financing.

Why is Border Bank the right choice for F/M homeowners?

If you want to feel like you have a relationship with your banker, Border Bank is the right place to go. We really strive to stand out by our great customer support! We also have numerous products to help fit our clients’ needs and even offer local servicing so you can contact us anytime you have a question. Border Bank also has some great consumer and commercial banking products as well so we can help our clients with all their banking needs.

How does Border Bank (and the mortgage team) cultivate strong relationships, go above and beyond, as well as create loyalty with customers?

We run our business as a team to make sure there is always someone available for our customers to get a hold of. We consistently strive to go above and beyond for our customers, and if that means responding to an email at night or on a weekend, we will make it happen. Typically, real estate transactions are one of the biggest investments in a person’s life and we want to make sure they know how important it is to us that we help them get though the process—from beginning to end—as smoothly as possible.

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Two Locations, Same Great Service:

It's About People, Not a Product Meet Some of the Faces That Make MMA Fargo a Standalone in Insurance By Josiah Kopp

Josie Wing, QPLS Client Advocate Heather Carlin, CISR Elite, ACSR Senior Client Advocate,

Taylor Shuck, PLCS Private Client & Select Business Advisor

How long have you been in this industry? I was looking for a career change and heard wonderful things about this organization. I felt my banking experience would complement the position of Client Advocate.

What is something about insurance that people find surprising? Each carrier rates an insurer with an “insurance score” which is very similar to a credit score. Many factors are used to determine this score, including driving history and lapses in coverage.

What makes you good at your job? I am light on experience and may not always know the answers to my clients' questions right away, but I know where to go to get answers. I don’t give up easily, making sure that I do research and provide the best options available to my clients. How are you engaged in the community? I like to partake in Volunteer opportunities around the community—I am also a United Way heart club member.

How do you set yourselves apart from other agencies? We take the time to get to know our clients beyond just insurance. This helps us better serve them and their needs.

What makes you good at your job? I have the mentality that every day/interaction is an opportunity to learn and improve. I am consistently working to improve my insurance knowledge and understand our different carrier appetites. This is important so I can ensure I am placing the clients' insurance with the proper carrier that will provide adequate coverage for their individual needs. How long have you been in this industry? I started in the insurance industry right out of college in January of 2017. My grandpa has sold life insurance for 50+ years and it always intrigued me. I have always had a passion for people and the insurance industry allows me to work with people/clients on a daily basis.

What has been the biggest challenge that you’ve had to overcome in getting into insurance sales?

Coming right out of college with minimal insurance experience, I would say earning the trust of my clients was the biggest challenge. Just like anything, trust is earned not given. But, gaining that trust is one of the most rewarding parts of my job and something I look forward to every day.

What is something about insurance that people find surprising? I would say our clients are most surprised at the endless options and resources we have in regard to insurance offerings. Whether it be a yacht that is located in Florida, a seasonal home in Colorado or a collection of classic vehicles, we are able to assist no matter what the risk.

Penny Crowder, CISR, CIC, CPRIA, CPRM Private Client Advisor

What has been the biggest challenge that you’ve had to overcome in getting into insurance sales? TV Commercials. Our industry is known for silly commercials that talk about discounts and saving money. Of course, I love saving money but saving money can be costly sometimes. One of the great things about being part of an independent insurance agency is that we have access to many insurers. Even among those insurers, they’re not all of the same quality. Some have exclusions the others don’t. I study this so I’m able to advise my clients about which brings the best value.

What is something about insurance that people find surprising? It’s so much fun! We get to walk beside people through big life changes like getting married, having children, and buying a home. In the last few weeks, I’ve had 2 clients hug me when they were ready to leave my office. Another sent me a handwritten card. I have the best clients.

How are you engaged in the community? I was a foster parent for several years. There’s such a great need and each child was a blessing.

As part of our Rotary Club, I was the RYLA (a youth leadership camp) chairperson for a number of years. I enjoyed recruiting, interviewing and selecting high school Sophomores and Juniors in the area and hearing their stories once camp was over. It’s a camp that, for most students, is life-changing.

In the last 10 years, I’ve been involved in bringing Christian films to our local theaters. It started with Fireproof and there have been several since then. I’d buy 1,000 tickets (and resell them!) to get the film to come. Our community flocked to the theater so now these movies come without my involvement. I really like having a family-friendly option at the local theater. Sina Sarabakhsh,

QPLS Client Advocate

How did you adapt during COVID to client and colleague needs, including a work-from-home option as well as providing returnto-office adaptations for colleagues? I personally can say first hand there isn’t another employer in town that I could be more grateful for than MMA. Not only did they offer the flexibility to work from home to keep their staff and families safe, but they also allowed me to maintain that privilege while I care for my terminally ill mother while still working full time. MMA will bend over backwards to help ensure your needs are met personally and professionally. They treat us like gold. I would highly recommend anyone reading this article apply. You want an employer that cares...you’ve found it.

What has been the biggest challenge that you’ve had to overcome in getting into insurance sales? There are dozens of insurance companies to choose from, how do we ensure our clients they picked the best one? Really building a strong bond and communication in those relationships is imperative. Clients like to know their business is housed in a place of transparency and overall trust.

What has been the most fulfilling part of your career? My clients and colleagues. They truly make my world go round. I am a Fargo native and noticed when I’m out and about in public if I hear a name that I recognize, I make sure I go over and introduce myself in person. Clients love to put a face to a name. With COVID we really lost touch in those 1:1 interactions. It’s been fun being able to have people come into our beautiful office space again. Stacey Frolek,

AFIS, CISR Elite Service Team Lead

What is something about insurance that people find surprising? For me, it would be that what you see in TV commercials isn’t the whole story. Does a certain company have a policy offering that sounds really great? Yes, but you’re going to pay extra premium to have it and most other companies have it available too. You can save hundreds of dollars a year by switching to their company? Maybe, but you’re probably drastically downgrading your coverage. If you have a large accident or claim, you’re going to wish you had spent the extra $200. Don’t be fooled by the gimmicks and funny ads- have a conversation with your agent.

The questions I hear most from my clients are... Why did my rate increase if I haven’t filed any claims? There are so many factors that go into a rating. One is simply inflation. Like the costs of other goods and services, there often has to be an increase just to keep up with the economy. Another factor can be the company’s claims experience. If they had to pay a large number of claims in the state the prior year, they might have to take an overall rate increase to maintain profitability and their ability to pay future claims. Recently we have seen an increase in the cost of building materials, which makes homes more expensive to rebuild, so the insured values have gone up. Changes in your insurance or credit score, your driving record, or the age of your home can all factor in as well. To keep premiums down, I recommend raising deductibles or maximizing your discounts by bundling products with the same carrier or taking loss prevention steps.

Alex Dawson, CPCU Private Client & Select Business Team Leader

How long have you been in this industry? I like to say 11 years going on 37. Some of my earliest memories as a child are of coming to the agency with my dad. I can remember talking about co-insurance and deductibles before I was in middle school.

What attracted you to insurance and what makes you continue to “tick”? For me, it was never really about insurance, although I obviously enjoyed furthering my understanding of it. Both legacy and community are very important to me. Having my name attached to it was something I wanted to preserve and continue for my children. When you boil it down, family is what makes me “tick”, and that extends to my work-family here at MMA.

What is your specialty in and how did you choose that? I’ve worked in many different areas of insurance; underwriting, marketing, cyber liability, personal lines and small business. What I enjoy about personal lines and small business is the intimacy. You are generally working with the homeowner or small business owner directly. We help them protect their most valued assets as well as their livelihoods. We protect their families. That is a bestowal we do not take lightly or ever take for granted. It’s our job to ensure our clients are financially protected and to be there when it matters most.