Get to Know DAN STACH
Dan Stach is a Portfolio Manager at Oak Street Funding. If you obtain a loan from Oak Street Funding, you may work with Dan or one of his colleagues. Here he describes his role and the process after a loan funds. How do you build a relationship with a new Oak Street Funding client? Because of this, I sometimes encounter unintentional It starts a few days prior to funding. There is usually a lot of resistance. People can be resistant to our process for two reasons: activity because the loan officer, underwriter, and borrower are 1 Clients aren’t used to our process. When someone isn’t used busy wrapping things up. My relationship starts with a client to something, there could be some initial resistance. Also, during the pre-close call. many clients are extremely busy and adding something to Basically, I work with a client to service their loan post-closing. their day may seem troublesome. Going through the first month or two of a new loan can create a bit of anxiety. It’s a transition time where I take the opportunity 2 Clients don’t see a benefit to our process, as in “you’re asking for these things, and you say it’s required, but I don’t to get to know each borrower. Questions go both ways, such as think it’s worth it.” “what can I do for you, what do you need to send me.” I build that give and take relationship and get into a monthly routine That’s where I have to describe the benefits and make our with each borrower, and I will always answer any questions or process as easy as possible so clients can understand how our requests a client has. process does benefit them. What are some common questions you answer What do you like about being a portfolio manager? for clients? I love being able to develop that relationship with someone, A big part of what I do involves helping clients by answering get to know them personally, and help them as much as I can. their questions, such as: That’s one of my biggest focuses- to help people. If it’s going to • How does the process work? • What is a cash collateral account? • What is my rate and how does it change? • What are my terms and maturity date? • Did you get my deposit? • When will I get my sweepbacks or commissions?
What are some misconceptions you believe clients may have about the process post-funding? Sometimes I think clients feel like I’m going to be a pain, like I’m just this guy who calls to say, [bangs table] “Give me these documents! I need them now and I’m not going to listen to you!” This is often the initial expectation; but that is not me at all. I care about each client’s business, and I care that they are doing well. I‘m not here to be the “bad guy”, but I want to make sure all your documentation is submitted on time. I think people have these negative connotations because as consumers, anytime we’ve had an issue on an auto loan, for example, we’ve had to find contact information online, and call a random customer support person who doesn’t really help. 12 | ww w.oakstreet fun d in g.com
make their day better, their life easier, then I want to do it. In addition to building client relationships, I enjoy digging into the ins and outs of a loan- terms, loan documents, analyzing data, understanding a client’s business, and projecting future successes. I also enjoy leading and working with my team here.
What do you want a potential client to know about working with you? I want them to know that we are here to support them. Sure, we want to sell loans, but this goes hand in hand with our desire to see you grow and the industry grow as a whole. Just know I care and want every client to do well. I can guarantee that a client’s customer service experience with me will be better than 99% of their experiences anywhere else. Any client can pick up the phone and call us and they will reach someone immediately nine times out of ten, and if not, they will get a response within a couple of hours. Clients are the most important thing. They aren’t just another number to us. Each client will have a totally personalized experience.
