Mortgage executive shares why HUD counselors are an important resource for mortgage brokers
It has been a challenging market for all prospective homebuyers, but especially those who are looking for their first home. One industry veteran is hitting the road to offer guidance to potential buyers.
Nora Guerra (pictured top), SVP of community lending solutions at Guild Mortgage, said brokers who are working with prospective buyers have to find ways to combat the ongoing affordability and inventory challenges.
“I think we as industry housing professionals continue to talk about the challenge, but we never talk about solutions,” Guerra told Mortgage Professional America. “In my role, it's all about just creating strategies around those solutions. I look at data and analytics, and I carve out strategies in different markets that can help buyers.”
She said at a recent stop in Columbia, South Carolina, she spoke with a large contingent of millennials. Many of those people remain in the rental market, regardless of the interest rate on mortgages.
“We have to have an interest rate conversation with the buyer upfront at my event,” Guerra said. “That's exactly what I talked about. I said you don't like today's interest rate. That's not attractive to you. But you also didn't like 2.35% in January 2022. That was too low. But you love 100% because you guys are historical renters out here.
“It really set the perspective at my event of these renters saying, ‘Oh my gosh. What am I thinking? You know, I need to get into the market.’”
Best-kept secret
Guerra said one piece of advice for mortgage brokers is to make sure they have access to counseling from the US Department of Housing and Urban Development (HUD). She often hears where a borrower will be denied a mortgage but told to fix an issue and come back. Those borrowers often don’t return.
“I had really great HUD counselors at this event, and I think that's really important for our industry to understand HUD counselors are our best allies when it comes to preparing buyers who are not mortgage-ready,” she said. “Sometimes in our industry, as industry professionals, we tell a buyer, ‘You're denied. Go fix this issue, but come right back to me.’ And I have to tell you, they never come back to us.”
Guerra said as part of these events, which are co-sponsored by CBC Mortgage Agency, she is bringing other mortgage industry professionals to help consult borrowers. These professionals include appraisers, insurance agents, mortgage insurance companies, and title companies.
But one of the most important people that she encourages every broker to work with is a HUD counselor, because there are pockets of customers in every market who would not be considered mortgage-ready.
“HUD counselors are our industry's best kept secret, but it can be a secret no longer,” she said. “Because they are the partner that we should all be working with. When I'm not traveling, I have seven out of my 11 calls of the day are HUD agencies that I'm reaching out to, to help me do good work in communities. And one HUD partner isn't enough.
“I had four HUD agencies represented, and out of our event, 38 families signed up for HUD counseling. Out of 127 attendees, most of them identified themselves as not mortgage-ready.”
Ever-changing industry
Guerra said no matter how long someone has been in the industry, it remains critical to keep up with the current trends to be able to help customers most effectively.
“I tell loan officers across the country, you have to be a forever student of the trends that are impacting our industry,” Guerra said. “It's not enough to say like, ‘I'm Nora Guerra and have been in the industry 25 years.’ Our industry in the last three years is ever evolving. I have to keep up with the trends. I have to keep up with the kind of agencies that are going to offer solutions to our buyers.”
She noted that, in addition to HUD counselors, non-profit agencies provide data and resources that can be a massive help to brokers and prospective buyers.
“I am very heavily involved in understanding data and analytics,” she said. “Some of these nonprofit agencies have been doing organic work for the last 25 years, yet our industry doesn't understand the benefits of partnering with them. It's not just HUD counseling agencies. I just did an eight-hour HUD agency homebuyer event in Houston on Saturday, and three organizations showed up just to sponsor and support.
“They said, ‘This is not our event. We just want to help you guys, because we see the need in Houston.’ I think that speaks volumes.”
In a tough mortgage market, one Idaho broker sees her clients as "extended family," not transactions, and believes brokers' value is clearer than ever.https://t.co/FFdXmEi5u1
— Mortgage Professional America Magazine (@MPAMagazineUS) August 6, 2025
She said brokers can work with these agencies not only to provide data and resources, but to spread the word about your business.
“The nonprofit agencies are supporting each other, yet, as industry professionals, our loan officers are not understanding,” Guerra said. “These are your partners. These are the folks who are going to help your buyer become mortgage-ready or get the word out about you. If you're a trusted advisor in the community, the word gets around. If you do great work, people are going to send buyers your way.”
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