Mike Drews
Fairway Independent Mortgage
It’s not a huge stretch to say that financing is like jazz. Each client, each agent, brings in their own style and a specific way they want the interaction to flow, and it’s the lender’s responsibility to keep the underlying rhythm in place while trying to allow the client to safely go where they want to go.
That analogy works great for Mike Drews of Fairway Independent Mortgage. His schooling is from the premier institute of music in the country: Berklee College of Music in Boston. Mike spent the next 15 years performing jazz saxophone with a variety of bands, including “The Boogiemen.” Each year he saw between 100 and 150 performances, as well as taught students piano and saxophone.
“The downside of the music industry,” says Mike, “is that the money wasn’t always great, so I always had to have side jobs.” Most of those came in the form of the home improvement industry, where job scheduling is notoriously nonstandard and often last-minute.
“In 2004, I came to the realization that I couldn’t live like this anymore and needed a change.”
The timing was good. He soon came across an ad that said, “Our highest producers come from the home improvement industry. Make your own schedule.” That sounded great. He joined a small mortgage broker in Elm Grove, and by 2007 he was working for Merrill Lynch as an account executive for their subprime subsidiary. But that was 2007; the mortgage meltdown was coming.
“They brought us into a room and told us that we had a month to draw our salaries and that we should start interviewing for our next opportunity because they would be eventually closing down.” He went on a lot of interviews and ended up with a Chicago-based company that specialized in creating partnerships with national builders.
“My job was to support the builder and their sales reps from eight different communities in Southeastern Wisconsin and two in Arizona.” Over the next seven years, he closed over 500 new construction transactions.
“I really realized the power and importance of creating strong partnerships like this,” says Mike. “While many lenders and REALTORS® were struggling during the meltdown, many builders thrived.”
By 2017 he felt it was time to go out on his own. “I had always told my wife that if I ever made a switch, I wanted to work for a company that was based in Wisconsin.”
He decided to open a Fairway Independent branch in Wauwatosa, WI. “It was the best decision that I could have ever made.”
His years of work in the industry have proved to him one thing. No two clients need the exact same thing. “Assessing people’s financial situations and strategizing to avoid challenges to help them achieve homeownership is an amazing responsibility and hugely fulfilling.” It’s his new jazz.
Things are always changing in the industry: government regulations, laws, markets, technology. COVID-19 has even had an effect. “We are now doing RON closings (remote online notary). If people wish, they no longer have to sign closing docs in person.”
And, even with those needs to move with the changes, Mike’s production ranks him in the top 1% in the nation for volume. “There’s really only one way to get really good in this industry, and that’s by doing A LOT of loans,” he says.
“As a company, Fairway has great rates and all the products that your buyers would ever need. My team has the experience, tools and support to deliver an amazing experience to your clients.”