It’s been a busy spring at Seattle-based HomeStreet Bank as people take advantage of low interest rates and depressed home prices to buy new houses or refinance their old mortgages.

The bank, which has deposit and lending branches in Washington, Oregon and Hawaii, processed $1.4 billion worth of home loans this year, compared to $848 million worth of loans in first five months of last year. Refinanced loans were up 24 percent in May compared to the same month the previous year, the bank reported.

The News Tribune recently sat down with Jill Marty, vice president and mortgage manager at HomeStreet Bank’s Tacoma branch, to talk about the lending industry, changes in loan requirements and Marty’s advice for prospective home buyers.

Have you seen an increase in business at your branch this year?

Year-to-date our (home) purchase business has doubled (compared to 2008).

Why do you think that is?

I think it signifies several things – that there’s great values in the marketplace, the weather is changing and also there’s more resources that are available for people, so there’s more people willing to jump into the market.

Have you noticed the loan guidelines are more strict?

Somewhat, but there’s still a lot of resources and opportunity. It’s tightened up a bit on the guidelines for the credit scores, but there are still loans available for those who aren’t at a stellar level of credit.

How often do you encounter people who just aren’t eligible for a home loan?

Not as often, but we handle them just like any other client. Many times if they aren’t able to obtain financing at that point we work with them on educating them on how to get to that point.

What are the typical hang-ups?

It’s a variety, it’s not necessarily just credit based. There could be a variety of things – seasoning with their job, the time period that they’ve been there – so there’s many variables to that. We see a variety of reasons.

So who is coming through the doors for home loans right now?

It’s pretty diverse. First time home buyers, empty nesters and individuals who are having to downsize – there’s a variety of what we see on the purchase side of the business.

Does Homestreet have a particular niche when it comes to loan products?

There’s a variety of niche products that we offer our clientele. We have FHA financing, which is a great option for first time home buyers. We also do offer a renovation loan – so that people can buy and remodel a deficient property all in one loan.

Any tips for someone looking for a home loan right now?

Get in touch with someone who is experienced. Get familiar with what the resources are and get educated that it is possible. I’d really emphasize for them to make contact with someone who understands the opportunity that’s out there.

What does it take to be successful in the mortgage business?

Personally it’s your connections, your relationships and continually building on those and strengthening them.

So how do you stay connected?

A lot of it is my past clientele, past business and referral business. I’m consistently networking and resourcing new business, but also really focusing on my sphere of influence and really mining that particular area.

What advice do you give people who are new to the industry?

Again I really try to emphasize the importance of the networking piece, the relationship piece and staying connected.

Kelly Kearsley: 253-597-8573

kelly.kearsley@thenewstribune.com