Capitol Bank: 5 Things You Should Know Before Refinancing Your Mortgage

An Interview with Amy Gile-Enge, Senior VP of Mortgage Lending at Capitol Bank
By Natalie Gregerson, Director of Marketing/Officer at Capitol Bank

Beginning in 2020, interest rates fell to historically low levels and millions of Americans rushed to refinance their homes. With mortgage rates expected to remain low in 2021, we want to make sure homeowners have an understanding of the refinance process. We asked Amy Gile-Enge, Senior VP of Mortgage Lending at Capitol Bank, for the 5 things someone should consider before refinancing their mortgage.

1. Amy, how would someone know if they should refinance?

“Refinancing is all about saving money in the long run. It really depends on the remaining balance of your mortgage, the interest rate and the time remaining on the loan. If you are nearing the final years of your mortgage, it may cost you more in closing costs than what you will save with a lower interest rate. On larger mortgage balances or for borrowers with several years of mortgage payments remaining, a slightly lower interest rate will most likely save you enough money in the long-term to make the refinance process worth it.”

2. What kinds of mortgage loans are available when refinancing?

“Aside from low interest rates, a change in situations and circumstances often causes people to refinance, and we have different mortgage loan products to fit varying needs. Commonly, people will refinance from Adjustable Rate Mortgages to Fixed Rate Mortgages. Instead of having an interest rate that can fluctuate, this type of refinance allows for a stable interest rate throughout the life of the loan. Cash Out Refinances are available for certain individuals with a large amount of equity in their home. Capitol Bank has a list of all our mortgage products on our website and we help borrowers determine their best option based on what is available to them.”

3. How much does it cost to refinance?

“Refinancing will involve closing costs. These can include but aren’t limited to: prepaid interest, appraisal fees, recording fees, title fees and administrative costs. Contact one of our mortgage lenders to discuss what types of costs you may incur with refinancing.”

4. When refinancing, how would someone choose the term of the mortgage loan?

“It really depends on your income and what monthly payment you’re comfortable with. A relatively short-term loan will mean you pay less in interest over the life of the loan than with a longer-term mortgage, but it also means your monthly payment will be larger. If you’re more comfortable with a lower monthly payment, a longer-term loan will mean you’ll pay more in interest over the life of the loan, but the lower payment will be more manageable on a monthly basis. In addition, if you find you are able to make extra payments, you’ll save money in interest by paying off your mortgage early.”

5. Amy, you’ve been in mortgage lending for over 25 years. Can you explain, in a nutshell, how the refinance process works for those that may not be familiar?

“First, you would want to contact Capitol Bank, or fill out the mortgage application on our website. At this point, one of our mortgage lenders would contact you to let you know what additional documents are needed, such as tax statements, bank statements and pay stubs. This is part of the underwriting process, something all borrowers must go through to obtain a loan. Once approved, your mortgage lender would contact you to let you know what interest rate, term and mortgage loan type you qualify for. An appraisal may be ordered to determine the current value of your home. Finally, your mortgage lender will schedule the loan closing with you to go through paperwork and collect your signatures. If it seems stressful, don’t worry! Our mortgage lenders have a combined 45 years of experience and will walk you through the process. With currently low interest rates and the large amount of borrowers applying to refinance, you can expect the entire process to take anywhere from 30 to 90 days.”

Contacting Capitol Bank’s Mortgage Team
For questions on current interest rates, refinancing or general mortgage information, please CLICK HERE to connect with our mortgage team. Amy, Howard or Cori will be in touch with you!

All mortgage loans are subject to underwriting approval. Capitol Bank is Member FDIC and an Equal Housing Lender.

Amy Gile-Enge NMLS #586017
Howard Cagle NMLS #593729
Cori Femrite NMLS #594085

Nordic acquires Bails & Associates

The healthcare firm bolsters its ERP solutions with the addition of the industry-leading Infor consulting firm

MADISON, Wis. – Feb. 3, 2021 – Today, Nordic, a top-rated healthcare consulting firm, announced its acquisition of Bails & Associates, an industry-leading ERP consulting firm that specializes in Infor solutions for customers across a variety of industries, with a concentration in healthcare. Bails will continue to maintain operations out of its headquarters in Canonsburg, Pa. and serve customers under the Bails brand, which is now part of the Nordic family of brands.

“We’re proud to welcome Bails to Nordic’s growing family of companies,” said Nordic CEO, Jim Costanzo. “Together, we’ll help solve for the complex integration challenges facing healthcare organizations. By combining Bails’ expert ERP capabilities with Nordic’s deep experience in advisory consulting, health IT staffing, and managed services, we’ll enable greater efficiencies that drive better business outcomes for healthcare organizations.”

Bails was founded by President and CEO Jamie Bails as part of the Infor ecosystem more than 25 years ago. Under Jamie’s direction, the company has grown to serve more than 1,000 clients to date worldwide in various markets including healthcare, public sector, retail, manufacturing, and strategic industries. Jamie will continue to lead the company, overseeing strategic initiatives, guiding the integration with Nordic’s healthcare consulting solutions, and providing targeted approaches to ERP implementations in these industries.

“Bails is pleased to be joining Nordic, a firm that shares our customer-first mentality,” said Bails President and CEO Jamie Bails. “From its commitment to quality to its focus on company culture, Nordic values the same priorities we do as an employer and as a partner. We look forward to tapping into our combined strengths to deliver transformational results for our clients.”

With this acquisition, Nordic will bring Bails’ ERP solutions to its current customer base of nearly 300 healthcare organizations, helping clients align their system capabilities and operational efficiencies to successfully achieve their business objectives. As an Infor Alliance and Delivery Partner, Bails’ tenured ERP consultants provide Infor/Lawson expertise in a variety of areas including, implementation and upgrade service performance improvement, enablement, managed services, and migrations to V11 CloudSuite.

These offerings align with Nordic’s portfolio of healthcare consulting solutions, which, in combination with its Europe-based EHR consulting firm Tasman Global, and its Canadian healthcare consulting entity, Healthtech Consultants, it provides to customers around the world. The combined entity will now serve nearly 550 organizations globally.

Bails is Nordic’s fourth acquisition in recent years. Nordic acquired Tasman Global, a leading EHR consulting firm throughout Europe and Asia, in 2020 and Healthtech Consultants, Canada’s top strategic healthcare IT consulting firm, in 2019. In addition, Nordic acquired the revenue cycle transformation practice of The Claro Group in 2018, complementing Nordic’s offerings with robust revenue cycle solutions for its healthcare customers.

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About Nordic Consulting

Nordic is a top-rated healthcare consulting firm that guides organizations to a stronger business with better patient outcomes. It provides health IT staffing, advisory consulting, and managed services, leading clients smoothly from strategy through to execution. Founded in 2010 as an EHR staff augmentation firm, Nordic’s solutions have expanded over time to help clients overcome their evolving healthcare-related challenges. Today, Nordic and its family of consulting companies, Bails & Associates, Healthtech Consultants, and Tasman Global, partner with nearly 550 clients across the globe, helping them deliver higher quality care at a lower cost. To learn more, please visit nordicwi.com.

About Bails & Associates

For 25 years, Bails & Associates has provided seasoned, certified consultants with services encompassing Human Capital & Talent Management, Financial Management, Supply Chain Management and Technical Services, including cloud provisioning, reporting, interfaces, data conversions, extensions, and workflows. Bails offers experts with a multitude of talents, abilities, and experience across diverse industries. Bails’ ERP resources are heavily experienced and are vetted, trained, and extensively supported, making them well qualified to identify client needs and exceed expectations. These attributes provide a smooth and seamless transition from existing systems, while at the same time enhancing each client’s business operations. To learn more, please visit bailsllc.com.

Goodwill SCWI celebrates 50 years in South Central Wisconsin

NEWS ALERT
January 21, 2021

David Johnson
Communications Coordinator
djohnson@goodwillscwi.org
608-438-7775

Goodwill SCWI celebrates 50 years in South Central Wisconsin

Madison, WI – Goodwill of South Central Wisconsin is celebrating 50 years of serving our neighbors in South Central Wisconsin, helping people gain independence through the power of work.

Since 1971, Goodwill SCWI has provided a hand up for anyone, throughout the 14-county region we serve, who wants to achieve independence through jobs, education, and skills training.

50 years of strengthening the community by helping staff members realize their potential, achieve goals in the career pathways they set, while providing support along the way.

50 years of service to the community by offering job and training programs to assist those with obstacles to employment, help develop marketable skills, and find meaningful work.

And during those 50 years, our 3 group homes have provided a safe, supportive way for hundreds of adults with mental illness regain their independence.

But our impact in the community doesn’t stop there. Goodwill SCWI is also a green business, keeping 16 million of pounds of goods each year out of local landfills through resale and responsible recycling.

This is who we’ve been for 50 years. Goodwill SCWI is excited to continue our mission of providing services for people with obstacles to employment for another half century and beyond.

About Goodwill of South Central Wisconsin

Goodwill SCWI is a local nonprofit operating 13 stores in the South Central region. The stores exist as the economic engine for Goodwill’s mission services, providing career guidance, supported employment and residential services to people with disabilities, mental health concerns and other obstacles to employment and independent living.

History of Black Madison story series by Madison365 sponsored by National Guardian Life Insurance Company

Madison, Wis. (February 1, 2021) – Through a partnership with Madison365, National Guardian Life Insurance Company (NGL) is sponsoring a series of articles throughout February highlighting notable African Americans in Wisconsin’s past and present.

Sponsoring Madison365’s story series is one of the ways NGL is supporting diversity, equity and inclusion (DEI) not only in the workplace but also throughout the community. NGL is proud to support these critical features on the works and impact of some of Wisconsin’s most prominent Black residents.

“We are fortunate to partner with Madison365, a leading media outlet for people of color in the Midwest, to celebrate Black History Month. This article series is an excellent way to highlight and honor the history of Madison’s Black residents who have made significant contributions to our city since 1839,” said Dave Anderson, NGL Executive Vice President and Chief Operating Officer.

There will be a total of four stories on the history of Black Madison that will be distributed each week during Black History Month featuring:

• The founders of Madison, including John Hill of Hill’s Grocery, Wisconsin Weekly Blade, Free African Methodist Church and first Black University of Wisconsin-Madison graduates.
• Madison’s first Black women highlighting the first Black woman police officer, firefighter, first (and still only) mayor.
• Black educators, including Helen McLean, John Odom, Milt McPike, Geraldine Bernard who impacted the community.
• Influential Black musicians, including Clyde Stubblefield, Richard Davis, Hanah Jon Taylor.

“We are inspired by the creativity and vision of the Madison365 team in developing The History of Black Madison series. NGL is thankful for the for the opportunity to support such rich and important content and storytelling,” said Dwayne Maddox, NGL Marketing Director.

The story series can be found at: Madison365.com.

About NGL

Established in 1909 National Guardian Life Insurance Company (NGL) is an insurance company headquartered in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company.

National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.

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Homeister, Janquart Receive Promotions at Capitol Bank

Madison, WI: Ken Thompson, President and CEO of Capitol Bank, announced the promotions of Brenda Homeister to Assistant Vice President of Loan Documentation and Paige Janquart to Controller.

Brenda joined Capitol Bank in 2016, with experience in all areas of loan operations and credit administration. Her work in handling complex loan transactions and PPP loan documentation continues to be impactful to employees and customers.

Paige’s work has been vital to the financial operations of Capitol Bank and Capitol Bankshares, Inc. since 2014. Her impact and improvements have been recognized by the Bank’s employees and shareholders.

Brenda is involved with LPGA Amateur Golf Association of Madison and is a committee member for the Keep Wisconsin Warm/Cool Fund annual golf outing fundraiser. Paige is a member of the National Charity League and also serves on the Capitol Bank Cares Committee, which oversees the Bank’s philanthropic endeavors within the community.

Contact: Natalie Gregerson
Director of Marketing/Officer
Capitol Bank
710 N. High Point Road
Madison, WI 53717
608.836.1616

Capitol Bank is Member FDIC and an Equal Housing Lender.