Grayslake Rotary Club Learns About One of its New Members

New Grayslake Rotary Club member Ken Idstein was the featured speaker at the July 1st meeting.   His presentation served as a forum for Ken to introduce himself to our club, tell us a bit about himself, and to detail his work history and current activities.  Ken is the owner and president of Idstein Mortgage Services, Inc., which has been in operation in Grayslake since 1990.  Prior to that, from 1965 to 1990, Ken served as a Loan Officer for Sears Mortgage and GMAC Mortgage.

New member Ken Idstein addresses the Grayslake Rotary Club

With the slump in the housing market over the past few years, the mortgage industry has been challenged, but Ken sees some recent revival.  There have been some significant changes, though, especially in the mortgage process. Lenders are much more regulated and as a result, the days of "easy money" to buy a home may be over.  Ken described the extreme detail that borrowers must provide into every source of income to satisfy lenders' inquiries; even something as innocuous as depositing a $50 dollar Christmas gift check from Grandma will require documentation to verify the source of that income.  Ken addressed other changes in the industry as well, and fielded several questions from the membership about the current mortgage process and climate.  For more information about Idstein Mortgage Services, Inc, please visit their website.