Milestones
1999
2001
2005
2020
2021
Earned Master's in business administration in one year
1999
Earned law degree from University of Maryland
2001
Founded Federal Hill Mortgage Company
2005
Became the #1 mortgage broker/lender in Maryland
2020
– Closed 951 transactions
– $312 million in mortgage volume
2021
“I was born to do what I do”
The mortgage business was never even on the career radar for Tammy Saul, Esq., co-founder and principal loan originator of Federal Hill Mortgages. With her sights set on becoming a lawyer from an early age, every step that she took as a young student was in preparation for a high-flying legal career.
Life, however, has a funny way of showing us alternate paths while we are busy making plans. For Saul, becoming the highly successful broker that she is today was dictated by a series of accidental events and, in part, by destiny, rather than by design.
After graduating from high school first in her class and winning the role of valedictorian in her graduating year, Saul attended college to study business. College was quickly followed by a Master’s in business, and then on to her dream destination: the hallowed corridors of law school
“I went straight into law school and got my law degree in two and a half years,” Saul says.
“By the time I was 24 or 25 years old, I was already a triple-degree attorney and practicing for a very prestigious law firm in Baltimore,” she adds.
The reality of a legal career, however, did not match the expectation she had had during law school, and the legal dream began to look less desirable.
“When I actually started doing the work, it just was not what I thought it would be in law school, but I continued to do it anyway,” Saul says.
Destiny stepped in at this point when she was let go from her position at a top Baltimore-based law firm for not meeting her target in billable hours.
This dismissal was followed by a second a year later, after she had been referred to another top law firm by a colleague. As she was trying to get back on her feet, Saul’s husband suggested that dipping her toe into the mortgage pool might just fill the employment gap.
“I was rejected twice in two years. My husband was a mortgage loan officer, and I don’t remember what he said to me, but I realized then that I could make a lot of money doing this,” Saul laughs.
“I treat the borrowers like clients, not like loans,” Saul points out.
This personalized and professional demeanor with clients has propelled Federal Hill Mortgage to a leading rank in the mortgage space. This winning approach has also been instrumental in driving Saul to the top of her game.
“I am just very good at building relationships, and I can turn one relationship into another and another, which led to last year to closing $312 million in loans with 951 transactions,” Saul says.
This staggering number has also led Saul to be recognized as the number-one producing female loan originator in the state of Maryland this year.
“I am also very good at simplifying it for the client because I know the loan guidelines and know how to structure a loan so well,” Saul explains.
Women in mortgage
When asked what a young female broker might need to bring to the table to emulate such success, Saul answers with reflection.
“The first thing female brokers need to do – because it is a male-dominated industry – is that they have to take it out of their heads that they are at a disadvantage,” Saul offers.
“Women can overcompensate because they believe they are at a disadvantage, and they become unnatural and not authentic. There is a place where a woman can use her skill [in the mortgage field] and actually have a huge advantage,” she adds.
People skills, listening and empathy, and confidence can be brought to the mortgage table, Saul says. She points out that these are skills that many women have in abundance.
Other secrets to mortgage success
“You just have to be very good at what you do. You must know that you are good at it and if you are not good at it, get good at it,” Saul says.
At Federal Hill Mortgage, Saul gets to practice what she preaches every day, and every day also brings the opportunity to “get even better at it.”
“It’s all in the way that we handle clients, the way we treat clients, and the language we use with them,” Saul says.
“There is no such thing as a lead, only a client.”
Paving the way for other women of influence in the mortgage industry, Saul knows she is where she is supposed to be.
“I feel as if I was born to do what I do. This is what I am meant to be doing. It’s my calling,” she concludes.
Spotlight
“I had the pride of being a lawyer, I had the title, I had the plaque on my door with my name on it. I thought I would try it for a few months, make a whole bunch of money, and then go back to practicing law.”
Top performer out of the gate
One month turned into another and another, and Saul quickly realized that she had “outproduced every person in that branch who had been there for a long time.”
“Within my first three months, I was the top producer, and the reason was that I approached the clients professionally as opposed to as a sale,” Saul says.
This professional and client-centered approach has been the secret to Saul’s remarkable success in the mortgage space. It has also formed the guiding philosophy of Federal Hill Mortgage, the mortgage firm that Saul and her husband started and currently run, and that has grown to include 20 mortgage agents.
Federal Hill Mortgage was founded in 2005 by Tammy Saul, Esq. and Ryan Saul out of the basement of their 1,400 square foot home. Their mission was to build a professional mortgage firm that embodied Tammy’s law firm training and culture. Despite the 2008– 2009 mortgage collapse, Federal Hill Mortgage flourished. Federal Hill Mortgage has been featured on CNBC’s Financing the American Dream in Loan Officer Champions, a case study of top producers by author Carl White.
Company Profile
2005
Federal Hill Mortgage founded by Tammy and Ryan Saul
1
Number of originators at FHM
(owner Tammy Saul, Esq.)
#1
Rank among Mortgage Brokers and Lenders in Maryland per Scotsman Guide
$312 million
Value of loans closed in 2021
Top 50
Position among female US mortgage company originators
Bio
Spotlight
Milestones
Company Profile
Years in the industry
25
Tenure at current position
2017 - Present
BAsed In
Toronto, Ont.
Fast Facts
From the age of 12, I worked for my family business. By 14, my mom would frequently leave me in charge to run the shop. The customers all thought I was much older
Growing up, I wanted to be a journalist or writer. I never imagined landing in the mortgage field
Tammy Saul
Co-Founder, Principal Loan Originator at Federal Hill Mortgage
The world of law couldn’t live up to the hype – but mortgage has surpassed it
Read on
“Within my first three months, I was the top producer, and the reason was that I approached the clients professionally as opposed to as a sale”
Tammy Saul,
Federal Hill Mortgage
“I am just very good at building relationships, and I can turn one relationship into another and into another which led to last year closing $312 million in loans with 951 transactions”
Tammy Saul,
Federal Hill Mortgage
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