Five Questions With: Marisol Vazquez

Marisol Vazquez was recently named vice president of residential lending for Centreville Bank. She has more than 30 years of experience in financial services, most recently as director and district executive for Santander Bank in West Hartford, Conn. She has a bachelor’s degree in business administration from the New England College of Business.

PBN: What does your new role with Centreville Bank entail?

VAZQUEZ: My role is to provide leadership and strategic direction to the bank’s residential lending team and ensure that Centreville Bank’s residential lending products are meeting the needs of our borrowers throughout communities in Rhode Island, Connecticut and Massachusetts.

 

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PBN: The COVID-19 pandemic has led to a huge boon in the residential housing market. How do you anticipate, as we approach what is hopefully the homestretch of this virus, that the housing market will change or be affected going forward?

VAZQUEZ: We expect the increase in refinance activity we’ve experienced over the past 18 months to continue well into 2021, most likely through the third quarter. We also anticipate the purchase market will remain strong with a steady demand throughout the year.

Our team is well-prepared to meet the needs of both the purchase and refinance markets. We look forward to leveraging several of the streamlined processes we implemented during 2020 to be able to quickly close loans for our customers.

PBN: What advice would you give to people looking to take out or refinance a mortgage right now?

VAZQUEZ: With the continued low interest rate environment, this is certainly a good time to be purchasing or refinancing, but every customer’s situation is unique. I always recommend speaking with one of our experienced loan officers as a first step, as they will be able to assess an individual’s needs and provide the guidance necessary when it comes to understanding valid options, as well as the products and terms that are available and will best fit the customer’s needs.

PBN: How can Centreville Bank stay competitive in the residential mortgage market when up against larger regional and national banks?

VAZQUEZ: As a community bank, we pride ourselves on offering the same range of lending options you may find at a national institution but with the unique ability to remain nimble and adapt to meet the needs of our customers. Our pricing is competitive, our leadership team is local and we benefit from a dedicated, in-house salesforce that understands the communities where we’re lending.

Underwriting and processing is centralized and done here in Rhode Island as well, which allows us to make decisions quickly and accelerate the overall loan process for our customers. These are just some examples of how we distinguish ourselves from our peers and continue to remain competitive in the residential lending space.

PBN: The banking industry continues to be dominated by white men. How does your race and gender influence your perspective, services and ability to connect to clients?

VAZQUEZ: Every good leader is going to bring aspects of their background and experiences to the work that they do, so I fully expect to do the same. For example, we know that there are a number of underserved communities locally, many of them predominantly Spanish speaking, that want and need financial support when it comes to homeownership. As someone who is bilingual and in charge of residential lending, I feel that I am in the ideal position to make a difference in addressing that need.

Regardless of the situation, I am looking forward to using all my skills, knowledge and experience to continue meeting the needs of existing customers and introducing the full breadth of Centreville Bank’s lending capabilities to new customers as well.

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.