51.0°,
Mostly Cloudy Mortgage bankers with an 80-year saga
G&M Wolkenberg Inc.
Mortgage Bankers
2838 Long Beach Road
Oceanside
(516) 536-2525
During the Great Depression, two brothers, Gordon and Morris Wolkenberg, came up with an idea. Having seen, first hand, how difficult it was to secure real estate financing in the New York area, the Wolkenberg brothers decided to form a company to help homeowners and home builders get affordable mortgages. Hence, in 1931, G&M Wolkenberg Inc. was born.
As a real estate corporation, their services ranged from buying and selling property, financing construction, property management and brokering residential mortgages.
At that time, commercial banks were the only vehicles that offered mortgages.
During World War II, Morris' son, Gilbert, joined the firm. In 1972, Gilbert's wife, Edith, joined, and by 1976, she was vice president. Their son, Rick, was elected president of the company in 1988, and he still runs the firm today.
"We claim to be the oldest independent mortgage company in the country," says Rick Wolkenberg. "Most of our clients come to us through recommendations, sometimes spanning generations. We are very protective of our reputation, since it is also our family name."
In 1986, when the mortgage banker licensing law was enacted in New York, G&M Wolkenberg Inc. became licensed as a mortgage banker. A mortgage banker should not be confused with a mortgage broker. There are no broker fees, as they are a direct lender. Thus, G&M Wolkenberg was able to offer a wide selection of fixed and adjustable mortgage plans at the best available rates. The keystone of this company has been the ability to offer a high level of integrity and personalized customer service.
In 1996, by keeping up with contemporary marketing strategies such as the internet and sophisticated technologies, G&M Wolkenberg Inc. was substantially expanded. As its business volume increased, it was even easier to offer highly competitive mortgage rates. Automated underwriting systems account for their rapid turnaround times. Every mortgage is processed and approved right on premises.
Prior to house hunting, it's a good idea to see a mortgage professional. By considering your income, existing debt, residential needs and funds available, G&M Wolkenberg can help you determine the right amount to borrow, and how much of a monthly mortgage payment you can afford. If you qualify, they will supply you with a Pre-Approval Letter, meaning you are pre-approved for a mortgage. This will make the entire house hunting process less stressful, as you'll have the ability to follow through on the purchase more quickly. Plus, the home seller will know that you're a serious buyer, as opposed to someone who is simply browsing.
G&M Wolkenberg Inc. has put together an extremely comprehensive website — www.wolkenberg.com — with lots of information, calculators and numerous links to related web sites. You can apply online, look up mortgage rates, closing costs and a lot more.
