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Eddie Gomez, CEO, The Rate Verifier

A Vision for a Transparent Mortgage Market

From landing in a new country at nine to becoming a beacon of innovation in the mortgage industry, Eddie Gomez's story is one of relentless pursuit and dedication. As the CEO of The Rate Verifier™, Eddie has positioned himself at the forefront of transforming the mortgage landscape in America. His journey, however, began far from the boardrooms and tech labs where he now spends his days.

Growing up, Eddie quickly realized that the "land of opportunity" wasn't just a moniker but a real playground for those willing to work hard and innovate. His early life's lesson was about maximizing every chance he got, a philosophy that has clearly paid dividends. But with success came a realization – the opportunity juice he had been so diligently squeezing was meant to be shared.

Eddie's professional journey is a testament to his commitment to helping others navigate the often-treacherous waters of homeownership. Ranking among the top mortgage originators in the nation wasn't just a personal accolade; it was a steppingstone to his true calling – making the mortgage process transparent, fair, and stress-free for millions of Americans.

Eddie's venture is more than just a business; it's a mission to correct a systemic flaw that often leaves homebuyers feeling cheated and overwhelmed. The Rate Verifier™ offers a simple yet powerful solution: instant, free mortgage rate comparisons, ensuring buyers get fair terms without unnecessary stress or hidden costs. It's a testament to Eddie's vision of a more transparent and equitable mortgage market.

Eddie's passion for making a difference extends beyond the confines of financial services. His book, The Adventures of Eddie, The Moving Monkey, is a heartwarming tale aimed at children, encapsulating the joys and challenges of new beginnings. It's a reflection of his own journey and a message of hope and resilience to young readers everywhere.

What inspired you to transition from a successful mortgage originator to creating America's First Online Mortgage Loan Inspector?

Eddie: I believe that home is the rock upon which a family can begin to create and live life on their terms versus reacting to life’s punches worried about moving every year or the landlord knocking on their door and handing them a 30-day notice to vacate. As a loan officer, I realized the number of families I could help was limited by the number of hours that I could work in a day, while technology allows me to help millions.
Facing the mortgage industry's challenges head-on, what were some significant obstacles you encountered while developing The Rate Verifier™, and how did you overcome them?

Eddie: The most significant obstacle when building from Zero to One is knowing what the future looks like, but being unsure if the steps we’re taking today are actually the ones that are going to get us there. I’ve overcome some of these by seeking mentorship. I literally wrote, “I’m looking for a mentor” with a Sharpie on a tee shirt I wore to a networking event in Silicon Valley, and I learned from them to have strong beliefs but to hold them loosely. Having that mindset shift has helped a ton!

How does The Rate Verifier™ empower homebuyers, and what role do you see it playing in the future of home buying?

Eddie: The Rate Verifier™ empowers homebuyers through a mortgage inspection report that tells them what terms they should be requesting from the mortgage lender they want to work with. We don’t advertise lenders on our platform. We believe this will change the future of home buying because it eliminates the hassle homebuyers have to go through today of shopping for a mortgage and guarantees they receive the best terms.
With your deep understanding of the mortgage process's complexities, how do you envision technology continuing to transform this industry?

Eddie: The mortgage industry as we know it today was born from the 2010 Dodd-Frank Act. Right now, the industry is very much a 14-year-old, and technology is a toy helping it imagine a brighter future that its parents don’t let it play with. I believe technology will help the top producers and those who care about delivering an extraordinary experience to a homebuyer but hurt those who have treated their homebuyers like a transaction. Technology will reduce the cost of originating a mortgage loan significantly and will help the great loan officers scale to capture more business.

Reflecting on your journey and the impact of your work, what advice would you give to other entrepreneurs aiming to innovate within their sectors?

Eddie: I would tell entrepreneurs aiming to innovate to have faith in themselves and allow their intuition to guide them. Life begins at the edge of your limit; if you don’t cross it, you’ll just be living the same day over and over again.

How do you balance your professional responsibilities with your family life, and how has this balance contributed to your achievements?

Eddie: Two years ago today, I didn't believe in the concept of "balance." I believed in sprinting towards my next objective as fast as possible and anything that "slowed" me down, I delegated. I learned this in an extreme coaching program. It served me well, in business, but not so much as a new dad. I was taught that preparing a meal for my kids, changing diapers, and many other such things was something I could pay others to do. At the time, I had a 2-year-old, a 1-year-old and had yet to change a diaper. Over the next couple of months, there were a series of events that forced me to slow down and stop. Still, for the first time in a long time, I began to pay close attention to my surroundings. They seemed familiar, and I realized I'd been going full speed in LOOPS, year after year accumulating money to "leave a legacy.”

A few days after that, I found myself with my dad in Sedona, Arizona, when he said, “true legacy is not built in a single lifetime. Look at these rock formations, they are millions of years old, built layer on top of layer, on top of layer, each a stepping stone for the next to grow and today be this beautiful masterpiece.”

That day, the word “balance” entered my vocabulary. I learned that I must pace myself to ensure my daughters are not just spectators but active participants in building our families’ own masterpiece if we want it to withstand the test of time, as the rock formations in Sedona had.

Today, my wife and daughters are part of everything I do and I’m excited for the day I get to be a dad again so that in balance I can enjoy every piece of the journey I missed with my first two.
Eddie Gomez exemplifies turning personal success into a tool for widespread change. His innovative spirit and commitment to financial empowerment continue to inspire many, making him a leading figure in the quest for a more equitable future in homeownership and beyond.
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