Mortgage Women Magazine 2022 Issue 2

IS S U E 2 , 202 2

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A Visionary LeadHer LYDIA POPE FOCUSES ON THE UNDERSERVED > PAGE 28

Failure Can Be Invigorating

Control your emotions and face the mental warfare that traps us

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INSIDE: DESKTOP APPRAISALS — WIN OR RISK? > PAGE 10 NEW HOPE FOR FIRST-TIME HOMEBUYERS > PAGE 14 CONSTANT LEARNING CULTURE > PAGE 20 LOAN OFFICERS PLAY MUSICAL CHAIRS > PAGE 24 A PUBLICATION OF AMERICAN BUSINESS M EDIA

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Rocket Mortgage, LLC; NMLS #3030; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226 Licensed Mortgage Banker-NYS Department of Financial Services; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply. ©2000-2022 Rocket Mortgage, LLC. All rights reserved. Lending services provided by Rocket Mortgage, LLC, a subsidiary of Rocket Companies, Inc. (NYSE: RKT). “Quicken Loans” is a registered service mark of Intuit Inc., used under license.

Rocket Mortgage, 1050 Woodward Ave., Detroit, MI 48226-1906

F R O M T H E E D I TO R

OUR MISSION Mortgage Women Magazine is dedicated to providing quality informational/educational content that betters women in the mortgage process at every step. The content is oriented to help women progress their understanding of the residential mortgage banking business and develop their skills at improving efficiency, effectiveness and profitability at all levels.

Celebrating Women

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Kelly Hendricks MANAGING EDITOR

s Women’s History Month concludes, I am in awe of the women we have featured past, present, and those to be featured in the future. I find myself surrounded by amazing women who contribute their time and talents not only to the mortgage industry but to this publication, and for that I say thank you! It is amazing to be part of a fantastic publication for women, put together by women collaborating to celebrate and educate other women. It truly is a blessing. Reading the stories of those who have set the path before us is inspiring. The accomplishments of women — not only in the mortgage industry — should be celebrated for more than just a month. We will continue to celebrate these women in each of our issues.

David Krechevsky EDITOR

CALLING ALL MORTGAGE STARS!

STAFF

Vincent M. Valvo CEO, PUBLISHER, EDITOR-IN-CHIEF Beverly Bolnick ASSOCIATE PUBLISHER Christine Stuart EDITORIAL DIRECTOR

Keith Griffin SENIOR EDITOR Mike Savino HEAD OF MULTIMEDIA Katie Jensen, Steven Goode, Douglas Page, Sarah Wolak STAFF WRITERS Rob Chrisman, Dave Hershman, Erica LaCentra, Nick Roberson, Lew Sichelman, Mary Kay Scully, CONTRIBUTING WRITERS Alison Valvo DIRECTOR OF STRATEGIC GROWTH Meghan Hogan DESIGN MANAGER

Kelly Hendricks

Mortgage Women Magazine is looking to recognize this year’s Mortgage Stars — the incomparable women who rise above the rest. We’re looking for women at all levels of the mortgage industry who are finding ways to inspire, advance, and achieve beyond the norm.

Pioneers, leaders, innovators. If these words come to mind when considering your ideal candidate for our Mortgage Stars list, then get your vote in and show your support for today’s female leaders in the mortgage profession. But tell us as much of a story as possible. We need to know why this nominee’s star burns bright.

Winners will be notified before the end of May and then honored in-person at the Mortgage Star Conference for Women, happening live in beautiful New Orleans on July 6-7, 2022. Please nominate your Mortgage Star at https:// ambiz.wufoo.com/forms/2022-mortgage-stars-nomination by April 15.

Christopher Wallace, Stacy Murray GRAPHIC DESIGN MANAGERS Navindra Persaud DIRECTOR OF EVENTS William Valvo UX DESIGN DIRECTOR

Kelly Hendricks Managing Editor Mortgage Women Magazine

Andrew Berman HEAD OF CUSTOMER OUTREACH AND ENGAGEMENT Tigi Kuttamperoor, Matthew Mullins MULTIMEDIA SPECIALISTS Melissa Pianin MARKETING & EVENTS ASSOCIATE

Mortgage Women Magazine welcomes your feedback. If you have comments, questions, criticisms, praise, or information to share with us and our readers, please write us at Khendricks@ambizmedia.com.

Kristie Woods-Lindig ONLINE ENGAGEMENT SPECIALIST Michael Castro MARKETING MANAGER Ben Slayton FOUNDING PUBLISHER

www.ambizmedia.com © 2022 American Business Media LLC All rights reserved. Mortgage Women Magazine is a trademark of American Business Media LLC. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to:

American Business Media LLC 88 Hopmeadow St. Simsbury, CT 06089 Phone: (860) 719-1991 info@ambizmedia.com

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Trailblazers

Blazing a Path … Raising the Bar

Success Comes From Outside The Comfort Zone KATE AMOR BELIEVES RISKING FAILURE IS INVIGORATING AND GETS YOU NOTICED

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By LAURA BRANDAO, Mortgage Women Magazine Contributing Writer

ate Amor is an executive in charge of product development for Finance of America Mortgage. She started in the mortgage business right out of college, where she obtained degrees in Economics and Business Administration and has held various roles in the industry until landing in her current position developing new products.

“You must do the things you think you cannot do.”

– Eleanor Roosevelt

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Kate, please tell us about your beginnings in the mortgage industry.

Where did it all start?

the bills. My husband was in law school, and we had just relocated to Cincinnati, Ohio, so I needed to find something stable quickly.

I ended up at Fifth Third bank in 2008 where I developed a strong industry network that allowed me to take the next steps in my career.

I held roles in consumer direct underwriting management, followed by enterprise risk and credit management, and then product development.

I spent eight years at Fifth Third moving up in the organization, taking on leadership roles including

Developing people, creating new products and innovative businesses is where I was always meant to be and it feels great!

KA: My journey in the industry started right out of college in 2007.

I took a position as a loan officer in a call center.

I took a threeweek mortgage boot camp course before they set me free on the sales floor. Within another month, I had the second highest sales numbers in the company.

Not long after, the industry crash happened, and I found myself having to work several jobs to pay

managing people, which allowed me to develop as a leader. It was then that I was in the right place at the right time and I found the role that I was passionate about and still am. When Finance of America offered me an opportunity to build a product organization from the ground up, I leapt at the chance and have never looked back.

Product development allows me to be challenged and creative at the same time. There is nothing more exciting to me than the launch of a new product and Finance of America is at the forefront of developing new products. Developing people, creating new products and innovative businesses is where I was always meant to be and it feels great!

Do you think trying out different roles is an important part of developing a successful career?

How would you advise people to make the most of opportunities CONTINUED ON PAGE 6

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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TRAILBLAZERS CONTINUED FROM PAGE 5

they may come across?

KA: Trying out different roles while building a career is critically important because it gives you exposure and perspective that allows you to grow.

One of my philosophies has always been that you must step outside your comfort zone and try new things to grow and evolve. Doing that in your career is more than important — it is vital.

Challenging yourself and being willing to step out of where you feel comfortable and safe will open doors and give you opportunities you might otherwise ignore or miss altogether.

This is even more important for women in business to understand.

Being willing to risk a failure and feeling afraid is invigorating; it also lets you learn, grow, and get noticed.

When you take on a new task and see it through despite any personal doubts, it also builds inner strength.

Job descriptions are often aspirational. As a person in charge of

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hiring, I have hired people who may not have met every requirement in the description, but were enthusiastic, persistent, and showed me that they were willing to learn. That kind of positive, confident energy can have a big impact on a person looking to hire for a role even if the résumé does not have every box checked.

Raise your hand and take on new opportunities, especially if they push you outside your comfort zone. You may be pleasantly surprised at what you are capable of if you just step up and try.

How important is it to stay curious as you work your way up in your chosen career?

KA: Curiosity is so important in all aspects of life. It is what keeps us striving and moving forward. When you stop being curious about things in the world around you, you lose your ability to grow and evolve. I think human beings are naturally curious and it is one of the things that has driven our ingenuity and innovation from the beginning.

If you aren’t continually learning and asking questions you will become

stuck, or worse, irrelevant. Life and work move quickly, and being actively involved in both means always looking around you and asking, “Why?“ When presented with an issue, ask is there a better way to do something?

What technology can solve that problem? Why am I doing things this way and how can I solve this problem another way?

Curiosity is what keeps us living with purpose and zeal. We adapt because we learn, and we learn because we ask why. The people who ask the most questions seem to be the ones who get the most notice and don’t miss opportunities when they present themselves. Curiosity is vital to a successful life and career.

Kate, what does the term “trailblazer” mean to you? How does it feel to be a trailblazer?

KA: Every single person has an inner trailblazer just waiting to be set free.

To me, a trailblazer is someone who follows their inner compass and recognizes the worth they bring to any task. They challenge the status quo and move boldly forward even if the

path ahead seems obscured or their confidence might be wavering a bit.

The most innovative and progressive individuals are the ones who follow their own North Star and work toward producing what they believe to be products and services that their customers want and need based on their research and good solid strategy. While it’s important to understand industry trends, trailblazers do not waste energy watching and trying to emulate or outsmart the company next door. They trust their intuition and act accordingly.

One example is how so many companies felt that remote work just wasn’t possible. Many thought it wouldn’t work so they gave up on it before even getting started. My response to this limiting mindset was: OK, what do we need to do to make remote work a reality? How can we build and foster a culture that is sustainable and productive with employees working from home or in different geographic locations?

A trailblazer has a mindset that says, “How can this be done?” instead of “That can’t be done.” They are willing to make the decisions that move us forward rather than waiting to see others succeed or fail.

Let’s build on that example.

What recommendations would you give to keep a remote working business culture vibrant and engaging? What changes have you seen with remote work?

KA: Remote working is now the new normal for many of us. So, for managers and people who are leaders, it behooves us to make sure we keep things fresh, engaging, and creative even when we are not all in the same physical space.

First and foremost, I believe it is important to make sure everyone on the remote team is on the same page.

It is critical to set firm boundaries and to respect everyone’s time.

I have set expectations for my team regarding flex time, core business hours, what their office space should be like, and what type of technology is necessary to make sure work time is productive time.

Making sure everyone is on board with the boundaries and expectations

Challenging yourself and being willing to step up and out of where you feel comfortable and safe is something that will open doors and give you opportunities you might otherwise ignore or miss altogether. makes it much easier to have the team working efficiently and all members feeling respected and valued.

We have an employee engagement committee that sponsors activities to foster teamwork and a good workplace culture even from afar. Everyone on the team takes a turn at setting up and running events and it makes everyone feel included and that they have a role to play. Having people rotate responsibilities keeps it fresh and the team engaged and energized.

One of the things I swear by and that was taught to me by more than one of my mentors as I was building my career is to never manage by email.

Email is simply a way to cover yourself and create a paper trail and should never be a substitution for important communication. Ask yourself how much time is wasted by employees waiting on responses to emails before proceeding with important tasks?

I coach my leaders to follow up with a different type of contact just like you would if you were in the office. Sending an email is fine, but if a response does not occur within a short window of time, follow up in a more instantaneous manner. We have all these communication tools at our disposal, and we need to use them efficiently.

This is even more important when we are working at a distance.

When you can’t simply walk over to someone’s desk and ask if they have had a look at your email, a different method of eliciting a timely response is not only available but needs to be used.

Remote work has come a long way due to the pandemic making it a necessity in most professions. I also believe that it presents an opportunity to increase engagement and productivity when done with purpose.

One of the benefits about working remotely is the time that would be

ultimately wasted on things like a commute or figuring out what to wear to the office is significantly reduced. Remote work has freed us from those relatively unimportant tasks and given us more time for creativity and productivity.

One of my time-saving tricks is I bought several of the same simple — yet professional — shirts for all my online meetings. I don’t waste time wondering what to wear when I have an important meeting. It is a freeing feeling to leave that worry behind.

Kate, please tell us where you see yourself and other women in our industry going in the next five years? What does that landscape look like?

KA: I think this is an amazing time to be a woman in this business.

The entire paradigm of how we view ourselves and our professional roles is shifting. It is an exciting time for women to have a seat at the table and really let our lights shine. There are many studies indicating that the more diversity we have in our organizations, the more successful we are.

More awareness creates more opportunity. For women who are willing to step up, raise their hands, and say, “Take a look at what I can do,” the possibilities are truly endless.

I see only more growth and diversity in the years to come. Women are taking their rightful places at the executive table and in all roles in our industry.

It is a joy to watch that unfold. I see a landscape that includes women in every level of organizations being recognized for the talent, drive, and creativity they bring to their professions.

What would be your advice to CONTINUED ON PAGE 8

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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TRAILBLAZERS CONTINUED FROM PAGE 7

young women just starting out in their careers in the mortgage industry? What would you like them to know based on your experience?

KA: I want the young women starting out today to do things that push them far outside of their comfort zones. To spread their wings and believe they can fly even if they have never tried before.

Taking that leap, even if it terrifies them at first, will build confidence, grit and resilience that will carry them further than they can imagine.

So many women don’t apply for that great job, or step forward to run a project or whatever the opportunity is because they are afraid and don’t believe in themselves. I say, “Do it anyway.”

It is worth every drop of sweat and every shaky moment just to prove to yourself that you are worthy, capable, and tough enough to rise to the challenge.

Every step in this direction is another opportunity to build resilience and that resilience is confidence.

Confidence that comes with facing your fears and realizing that you are worthy of that promotion or new role or whatever it is you want for yourself.

Don’t allow negative thinking to stop you or be the reason you opt out of something that you are passionate about. Choose to be brave and allow yourself the luxury of confidence and strength. Visualize where you want to go, and the road will appear before you in the form of new challenges to be met.

And what is your opinion about mentors in a career? Do you think they are important?

KA: I think mentorship is a huge component of building a career, especially when just starting out.

Finding the right person to support you and push you through the difficult times when you feel like you want to stop or turn away from an opportunity is of inestimable value.

Confidence and resilience can come from within if you have the right person drawing it out of you with advice, hard-earned wisdom and experience. I would even advise

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finding more than one mentor if you can. Experience and differing points of view are critical to developing and growing into your profession in a successful and healthy way.

What do you like to do outside of work?

KA: My husband and I enjoy renovating and restoring historic homes.

We own several property investment companies and we find historic homes, purchase them and renovate and rejuvenate them.

I also like to spend time on myself, so I practice meditation, journaling, and gratitude.

I believe in working on myself regularly to become the best version of myself I can possibly be.

One of the keys to my success has been recognizing and working on developing my best self through a positive mindset and choosing to see myself as the author of my own destiny and not a victim of any set of circumstances.

evolve, investigate myself and find new and better ways of doing things.

During this journey, I’ve discovered that I have a light within me that needs to shine outwards. It is my authentic self, and it is more than worthy of being seen by the world. It offers hope and hopefully, provides inspiration to others around me.

When we spend more time looking inward for answers rather than worrying about what others think, or comparing ourselves to others, we begin to know who we truly are. A positive attitude follows naturally from knowing your own capabilities and strengths.

Having a strong support network is important; however we also need to allow ourselves to get to a place where we can be introspective to solve issues and recognize our ability to be a light and a leader.

If you want to be a leader, trailblazer, or a beacon of light to others, your first task is to work on yourself and be the best and most authentic “you” possible.

When that has happened, you can begin to show others how to find that best version of themselves. You have an obligation to do that inner work and transcend your own issues before picking up the mantle for others and giving them the support they need to follow your example. n

When Finance of America offered me an opportunity to build a product organization from the ground up, I leapt at the chance and have never looked back.

Kate, where did your positive mindset really get started? What made you change your outlook?

KA: I have always been into selfimprovement projects and am naturally curious. My goal is to continually

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(888) 557-6770 MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Fannie/Freddie Desktop Appraisals?

A WIN, OR A RISK TO OUR INDUSTRY?

BROWN, CMB, AMP, CRU, Special contributor to Mortgage Women Magazine

an. 19, 2022, Fannie Mae released its new Desktop Appraisal Option through DU. Freddie Mac has announced it will follow. Since then, the industry has weighed in. Some are excited about this new option, but most are skeptical of the risk. Let’s start with what exactly does this mean.

Loan casefiles, as of March 19, may receive the Desktop Appraisal Option.

Lenders must ensure the file meets the following requirements to be eligible: • includes a complete subject property address; • is a purchase transaction; • the loan is secured by a one-unit principal residence; • the LTV ratio is less than or equal to 90%, and • the loan casefile receives an Approve/Eligible recommendation.

If those requirements are met, the lender could order a desktop appraisal.

Keep in mind that the lender and the borrower always have the option to order a traditional appraisal or execute on an appraisal waiver, if offered. If you choose to move forward with the desktop appraisal, it must be on Form 1004 Desktop.

Acting FHFA Director Sandra

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CHRISSY'S

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By CHRISSY

CORNER

Thompson announced the coming of this program at the MBA National Conference last October. This was in effort to help solve multiple issues our industry was facing, including but not limited to, the ability to get appraisal orders accepted, timeliness of appraisal completion, limited acceptance rates for rural areas, etc.

Lenders across the nation were very relieved to hear a solution was on the horizon. The appraisal process and timing delays were a significant pain point over the last couple of years.

This is all great news, right? Well, that’s the sticky point. Let’s dive into the requirements and liability for lenders and appraisers.

There are requirements appraisers must meet when completing this form.

They must conduct analysis and develop opinion of value with the inclusion of the following: • Use Form 1004 Desktop.

• No physical inspection of the subject property; data may be provided by various parties (buyer/ seller agent, homeowner, builder, appraiser files, etc.) and through secondary data sources (public records, MLS, internet, etc.).

• Must include floor plan with interior walls.

• The appraiser must have sufficient information to develop a credible report.

• Data provided by the parties with a financial interest in the sale or financing of the subject property must be verified by a disinterested source.

Let’s look at the third bullet: must include floor plan with interior walls.

Now reference bullet No. 5: must be verified by a disinterested source. So how does one do that? Well, here is the trouble with these requirements.

The appraiser is liable for all of the data, but will be relying on other sources to provide it. The good news is

that we are in the era of fintech. There are companies out there that claim (I say that because I have not demo’d them personally) that they have the solution to this hurdle. One of them being “RemoteVal.” They claim to have developed technology that will allow them to virtually develop an interior floor plan. If those tech solutions do deliver the data appraisers need to meet that requirement, this becomes a no-brainer, right? Well not exactly.

Below I will list the risks I have been made aware of from our industry partners: • Fannie Mae’s rules surrounding ordering multiple appraisals still stand. If you are dissatisfied with the results of the desktop appraisal, you cannot just order a new appraisal without ensuring you meet the requirements of their policy.

• Some appraisers are claiming the form is very cumbersome and may not be worth the minimal cost savings in relation to the amount

of additional work that needs to be completed. In turn, unsure they will accept these orders.

• Some appraisers note that their E&O policies are discouraging them from performing these appraisals.

• If Fannie Mae is dissatisfied with the data provided on the report, they have the right to require a repurchase. (Think back to ’05 & ’06 and I’ll just leave that there).

• The appraisers and lenders are liable for all of the information that they receive from third-party sources.

The appraisers are also required to ensure they do not make any extraordinary assumptions.

• The third-party data in the remote areas is slim to none. Where do they obtain this data?

• Will appraisers truly pick comps that are “like properties and neighborhoods?”

So, is this a win for our industry?

Jury is still out. I, personally, am a

huge fan of the adoption of tech in our industry. I constantly say if Amazon can put groceries in my refrigerator, then anything is possible! I do think there are a lot of areas in the process of a loan application that can be streamlined by the advancements in fintech. So, potentially, what we are hearing may be the natural skeptics when fintech revolutionizes your sector of the process. Or, potentially, this does carry unintentional risk that has not been resolved. My advice to each company is to complete a full-risk analysis for yourself and make the decisions and polices that meet your risk appetite.

If we can solve for the risk issues surrounding this option, this will be a huge win for our industry. Just ensure you, as the lender, fully understand the requirements before moving forward. n Chrissy Brown is chief operations officer for Atlantic Bay Mortgage.

Where Women Succeed—and Lead.

In 2021, 56%* of our top Originators were women.

Atlantic Bay promotes and inspires growth for women in our company, and beyond.

*Based on internal data.

This communication does not constitute a promise or guarantee of employment. Atlantic Bay Mortgage Group L.L.C. NMLS #72043 (nmlsconsumeraccess.com) is an Equal Opportunity Employer.

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Experian Boost … Or Bust?

WHEN A $5 BILLION COMPANY OFFERS A PROGRAM FOR FREE, YOUR DATA IS THE PRODUCT.

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By TYNA-MINET

n a recent CE class, I asked if students had seen success from Experian’s 2019 Boost program. According to Experian, the program can instantly boost consumers’ credit scores by allowing them to add their cell phone, utility, or video-streaming bill payments directly to their Experian credit report. They claim that consumers’ credit scores will be boosted immediately if they have been making qualified on-time payments. The average Boost user will see their score rise by 13 points.

“You can link your bank accounts such as your checking and savings,” said Britney Velasquez, a Mortgage Loan Originator, who has used the program on a few borrowers. “Experian Boost analyzes the automatic payments and accounts that you have coming in and out of that bank account and after a couple minutes it tells you what your Boost credit score is.”

Velasquez saw credit scores go up more than 10 points for those who used the system.

This year, Experian launched another program called Experian Go, a free program to help people with no credit history begin building credit on

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ANDERSON, special to Mortgage Women Magazine

Tyna-Minet Anderson is vice president of Mortgage Educators and Compliance.

their own terms, “We believe every individual deserves the opportunity to reach their fullest financial potential and we’re proud to be the only credit bureau with a program to help credit invisibles build their credit history in minutes,” said Craig Boundy, CEO, Experian North America. “This new program is a direct reflection of our mission to bring

financial power to all.”

In theory both programs sound great, but it is likely that Experian is getting more out of the deal than the borrower with the additional 10 points on their credit score. Rather than just receiving basic data about the number of open accounts and the timeliness of payments, with Boost and Go, borrowers are allowing Experian an in-depth look at how they spend each penny.

Perhaps we could give Experian more of a pass if they had done a decent job of responding to consumer complaints, but in 2021, Experian — along with the other two credit bureaus — reported relief in response to less than 2% of covered complaints, according to a CFPB report, as compared to 25% in 2019.

“America’s credit reporting oligopoly has little incentive to treat consumers fairly when their credit reports have errors,” said CFPB Director Rohit Chopra. “[This] report is further evidence of the serious harms stemming from their faulty financial surveillance business model.”

Of the more than 700,000 consumer complaints submitted to the CFPB from January 2020-September

Based on the number of complaints, and even more on the resolution of those complaints, it seems the credit bureaus are not complying with the most fundamental of their duties.

2021, 50% were related to the three agencies. Consumers submit more complaints about inaccurate information on their credit and consumer reports than about any other problem, stating that the inaccurate information belongs to someone else, and they often said they were victims of identity theft.

The findings from this study show that the system is not working for consumers, and that there are serious consequences when inaccurate information is — and remains — on their credit reports.

CFPB further states that consumers are “frustrated and stressed when the consumer reporting companies’ automated processes for correcting inaccuracies do not work or when they do not get responses to their concerns.

Consumers report that they spend time, energy, and money to try to correct inaccuracies.”

While these new programs may benefit consumers, it is equally — if not more — important to ensure that

100%WomenOwnedACTAppraisalR3-OL.pdf

consumers with inaccuracies on their reports, or those who are victims of identity theft, get the help they need.

The Fair Credit Reporting Act clearly outlines the requirements of the bureaus related to direct disputes.

Based on the number of complaints, and even more on the resolution of those complaints, it seems the credit bureaus are not complying with the most fundamental of their duties.

Experian states that “increasing financial inclusion depends on creating opportunities for underrepresented

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consumers to succeed. And this starts with ensuring all consumers have a financial identity.” Hopefully, Experian will also work harder to protect the financial identities of all consumers, not just new ones, since their mission is to “bring financial power to all.”

It appears Experian has some good intentions, but until they are able to cover their basic duties, maybe they should focus on following what the law requires of them rather than look to gain additional profit from their access to consumer data. n

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MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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A New Hope For First-Time Homebuyers NEW FHA LIMITS AND DOWN-PAYMENT ASSISTANCE HELP BORROWERS GET INTO HOMES

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By MIKI

Miki Adams is president of CBC Mortgage Agency.

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ADAMS, SPECIAL TO MORTGAGE WOMEN MAGAZINE

ew can deny that first-time homeownership is an uphill battle these days. Between higher home prices, low inventory, an uptick in mortgage rates, and rising inflation, it has become increasingly difficult for lower-income borrowers to find affordable homes and start generating homeownership wealth.

By raising loan limits for first-time homebuyers, the FHA has delivered some hope for potential borrowers in the new year. FHA loan limits are now $420,000 in most U.S. counties and as high as $970,000 in particularly expensive markets. The $420,000 limit applies to counties where 115% of the median home

price is less than that amount.

The raised limits are especially welcome given the robust gains in housing prices nationally. But do the new FHA loan limits give would-be homebuyers enough optimism to keep their homeownership dreams alive, in spite of the obstacles in their way?

It’s an important question because obstacles are growing larger by the day.

CONFRONTING CHALLENGES AND OBSTACLES

As inflationary pressures hit the country, one need look no further than the nation’s housing market as

Too many first-time buyers end up “house poor” because they poured all their savings into a down payment and are unable to absorb the unexpected costs of maintaining their home. a key indicator for the high cost of living. The most recent S&P CoreLogic Case-Schiller data found home prices continued their upward march across the U.S. in November, rising 18.8% annually — the sixth-highest reading in 34 years, according to Craig J. Lazzara, S&P DJI managing director.

Despite rising rates, low housing inventory will likely push home prices higher for the foreseeable future. In the past couple of years, investors and all-cash buyers have competitively bid up home values, making appraisals sometimes irrelevant to what buyers will actually pay. Even buyers who had been lucky enough to receive help from family members found steep competition from cash offers. Frequently, the amount of funds needed to meet minimum downpayment and closing-cost requirements, made it difficult for would-be homeowners to compete with cash offers.

First-time buyers face yet another challenge that makes homeownership less affordable. According to the National Association of Realtors, the median rent for 0–2-bedroom properties soared 19.3% between December 2020 and December 2021.

By the end of the year, rents were increasing at six times the rate preCOVID. Increasing rents make saving for a down payment exceptionally difficult. Constant rent increases combined with rising home prices are crushing the aspirations of families.

But it’s not just families who are struggling. One of the emerging drivers behind today’s housing market are single women, who are increasingly looking at homeownership to build long-term wealth. In fact, according to recent Bank of America data, 65% of single women say they would rather buy a home before marriage, and nearly one-third of all current female homeowners actually purchased prior to tying the knot.

However, the bank also found that more millennials and Generation Z consumers aren’t planning to have kids, which has historically been one of the largest factors behind the decision to buy a home. And for many, the decision whether to first start a family or buy a home is irrelevant if they can’t afford either one.

REACHING OUT FOR RESOURCES

While the increase in FHA loan limits is encouraging, current conditions prove that assistance for first-time homebuyers has never been more important than it is today.

Fortunately, help is available.

A number of down-payment assistance (DPA) programs offered through state housing finance agencies (HFAs) and other government and non-profit organizations can help cover a first-time buyer’s down payment and closing costs, which can range on average from 3% to as much as 7% or more depending on the agency. CBC Mortgage Agency, for example, offers down-payment assistance through its Chenoa Fund program. With it, buyers can get a forgivable or repayable second mortgage that covers up to 5% of the purchase price of the home.

DPA is a perfect complement to FHA loans.

Some state housing agencies and employer-sponsored homebuyer programs offer freestanding down-payment and closingcost assistance. However, the vast majority of DPA programs are used in combination with a first mortgage originated through lenders already approved by a housing finance agency.

In most cases, DPA can be combined

with other sources of assistance, such as qualified gift funds and grants.

DPA programs are most commonly structured as either deferred payment second mortgages with zero interest (also known as “soft seconds”), fully amortizing second mortgages repayable with interest, or through grants.

The mechanism through which state housing agencies fund the DPA has evolved over time. Historically, assistance was enabled by federal funds distributed to qualified municipalities and nonprofits. Today, most DPA programs are funded by the gains achieved through selling and trading of mortgage-backed securities in the capital markets.

Of course, it’s one thing for first-time buyers to get financing for a home, but it’s even more important to keep it. Too many first-time buyers end up “house poor” because they poured all their savings into a down payment and are unable to absorb the unexpected costs of maintaining their home.

For this reason, CBC Mortgage Agency provides an 18-month-long post-purchase homeowner counseling program known as the Borrower Success Program.

Through a collaborative relationship with a HUD-approved housing counseling agency, the educational program offers support and coaching for borrowers in transition to homeownership, and deals with everything from leaky faucets to financial stressors.

The bottom line is that FHA’s loan limit increase is welcome news. As it should, the agency rose to the occasion and new limits with programs to assist borrowers are giving new hope to firsttime homebuyers, an increasing number of whom are women. But for many, this move alone isn’t enough to overcome the impacts of rising home prices, inflation, and the likely increase in rates.

That’s why DPA programs are so important, and why they need to be available for future generations of homebuyers. As long as that happens, the American Dream can survive, and homeownership will remain affordable and an attainable opportunity for all. n

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Big Girls Do Cry H

By MEGAN

MARSH, Special contributor to Mortgage Women Magazine

ow many of you LOVED high school? And I mean really loved it.

If I had a time machine and I opened the door to let anyone jump in and go back to: • Braces and pimples; • Awkward kisses; • Homecoming dances to Salt-NPepa’s “shoop shoop shoop”; • Pagers • 90210 But also: • Tears — lots of them!

• Your first breakup; • Being grounded; • A friend stabbing you in the back.

When I was in high school, I was recruited by a college coach to play field hockey. She told my future teammates that the reason she made me her top priority as a recruit was because during my hometown visit I stepped on another girl’s head (an opponent) with my cleats and kept on running until I scored a goal. Nothing got in my way. I was as fierce as it came.

It wasn’t abnormal that during high school games I had to be stopped by a referee and told to not be as aggressive and that I needed to tone it down. I

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Megan Marsh is owner of Keystone Alliance Mortgage

wasn’t like the other ladies out there on the field. “Stop playing so hard,” I was told.

When it was game time, I turned the intensity on and turned it up.

I ran my competition over if they didn’t move. I had strength, mentally and physically. I was confident in myself, my skill, and my ability. I was prepared to conquer the world if the opportunity was put in front of me.

I was the captain of my D1 team, a natural leader because I didn’t fear a good challenge and I stood by what I believed in.

I imagine now that this was the reason my father was so concerned about me when I had my first breakup and breakdown. I was inconsolable! I don’t think I stopped crying for three days.

Now, none of you ladies can relate to this, can you?

It was unusual for my family to see me so vulnerable and upset. In an attempt to fix the situation my younger sister did what any loving little sister would do. With the hope of pulling on my ex-boyfriend’s heart strings, she called and read my ex-boyfriend’s entries from my journal!

It worked. We got back together a few days later. No more tears … for now.

I am the same way with everything I take on in life. At my business, I walk through the doors and I am all business. I’m focused, I’m sincere, and I’m determined to help people.

I don’t have time to chit-chat at the water cooler. I don’t talk about people behind their backs and I can go to bed at night knowing, if I never wake up and I meet my God, that I have given

everything that I have for every person he has blessed me with serving.

But, I have learned through all the intensity and all the killer instincts that no matter how tough and intense I was, big girls do cry. I know this because when I finally entered the real world of people, adults, and business after graduating I quickly realized how difficult it was going to be to lead, to reach my goals, and stand up for what I wanted and believed in. It would be even more difficult if I didn’t learn how to control my emotions and face the mental warfare that so many of us get trapped in.

My athletic days and strong female coaches gave me the confidence and ability to believe I could do anything I put my mind to. The real world made me question everything and everyone because they did not have those same experiences of a team lifting them up, supporting them, and believing in them.

As an athlete, particularly part of a team, I was taught to welcome someone better and faster than me with open arms and as an opportunity for us all to get better. The real world introduced me to some very different experiences that brought me to tears on a weekly basis. I have since learned that I am not the only one that has had the same experience.

Did you know: 41% of women have cried at work vs. 9% of men, which can be explained by a few factors: • Women have more prolactin.

Prolactin is a hormone produced by our bodies and one role it plays is emotional control. Women have 6x the prolactin in their systems compared to men.

• Sociological influences. Women aren’t taught to suppress emotions from a young age like men are.

Therefore crying is a natural reaction to the emotions we feel.

However, with that being said, and science aside, being told you’re not eligible for a promotion or leadership role because you’re emotional is downright infuriating.

Hearing you are “too emotional” while watching less-seasoned male colleagues rise up the ranks due to their aggressive and argumentative behavior that is coined “assertive” quite literally drives women mad or straight out the door.

Being treated differently as a woman,

compared to the men in leadership positions, is not good for business.

• Men might get upset and then rant and rave, possibly threaten to quit.

• Women will most likely cry but stay silent until they feel safe sharing what has upset them with someone they deem “safe” to confide in.

The good news? there is value to our

you don’t do this, you will miss out on many opportunities for your people and teams to grow in a positive way.

When one of the women on my team comes to me with tears in their eyes, I tell them to “cry it out” or “get it out” with me, because it is only when they feel safe that they will bring the real issue to the surface, which

Hearing you are ‘too emotional’ while watching less seasoned male colleagues rise up the ranks, due to their aggressive and argumentative behavior that is coined ‘assertive’ quite literally drives women mad or straight out the door. tears, and the idea that emotions are bad and have no place in business is down-right wrong! There is evidence that emotions and empathy specifically are good for business.

The problem that we all have to overcome is that men built the professional word and devised the rules that were geared toward them at the time. Women are still trying to figure out how to behave in this world where we are told to be calm under pressure, diligent in the way we carry ourselves, and always mindful of keeping our emotions in check.

Companies and business leaders need to have managers and leaders who are in tune with their emotions and their team’s emotions.

They need to encourage everyone to not stifle emotions or ambitions to please others, but rather encourage curiosity, empathy, and understanding.

As professional women, we bring value to our teams and create a dynamic that didn’t exist 50 years ago. Our emotions are a big piece of this dynamic.

Just as we would tell a male colleague who is upset and agitated to cool off or go take a cold shower, we need to find ways to address women when their emotions bubble over. If

many times benefits everyone on the team and the company.

It is not uncommon for men and women to get emotional during our weekly meetings because we have encouraged each person’s individual value, and we focus on the pursuit of our company values, instead of norms and biases.

The most challenging thing we have to address is the double-edged sword where a single action or show of emotion can be perceived two different ways.

We have all heard or seen examples where a woman who is: • K ind, compassionate, and is well liked but told they lack leadership.

• Confident and outspoken but chastised for being “too aggressive” or competitive.

Supporting your team to harness and channel emotions, while allowing an outlet, rather than suppressing or criticising, will keep your team more engaged and motivated. It will make them want to work for you for a long time to come.

Suppressing Emotions creates a negative atmosphere. Men are less likely to seek help for mental health CONTINUED ON PAGE 18

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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BIG GIRLS DO CRY CONTINUED FROM PAGE 17

issues. This type of habit not only damages productivity but can also lead to missed opportunities for selfdevelopment and improvement.

Above all else the people who feel emotional about their jobs are the ones who really, really care! As a business owner or leader you should want an office full of tears and tissues!

Emotional Intelligence is vital for selling to clients, building morale within your team and building business relationships • High EI makes for a top performing leader.

• Self Awareness you need to develop a keen understanding of who you are in the world.

So, how do you improve your empathy & emotional intelligence at work? Take the time to TeamBuild.

ROLE PLAYING GAMES

Have team members put themselves in someone else’s shoes and see different perspectives. We have had adult show and tell, where our team each brought an artifact that had the biggest significance to them. Everyone took a turn telling the story behind the artifact. Every time we have done this exercise, there has never been a dry eye, gender aside.

Show your team that you care about them and their feelings. You can do this a number of ways: • Birthday celebrations.

• Milestone celebrations.

• Hand-written notes.

• K AM Bams — this is an anonymous message sent about other team members.

Use your voice to support women • Amplification is one example where someone will repeat another woman’s idea if they are ignored or overlooked. This results in the

Above all else, the people who feel emotional about their jobs are the ones who really, really care! As a business owner or leader you should want an office full of tears and tissues!

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person getting credit where it is due.

• “No interruption” rule: Privately make men aware of their habit and how it makes people feel.

Empathy is vital for understanding your customers’ pain points and helps you have the ability to solve them.

Empathy helps leaders understand their staff’s developmental needs and motivate them.

MISCONCEPTIONS ABOUT EMOTIONS

Tears are not always a sign of sadness. Tears are usually due to anger or frustration, so if you have a woman who works for or with you, find out what she is frustrated about. Get to the root of the issue and put yourself in her shoes. Would you be as upset if you were experiencing the same issues?

Some men withhold feedback from female coworkers because they fear they will cry.

Studies have found that in board meetings, women spoke as much as men only when the board was at least 80% female. Men spoke the same amount whether or not they were in a minority.

Find and test ways to get everyone’s input and feedback. Use the method that results in the most open and honest communication, until you see that all members feel safe to be who they are.

Above all else, put on your big girl shoes, those 4-inch heels and grow into the significant person you were created to be. Dreams often come one size too big so we can grow into them. n

ADVERTORIAL

THOUGHT LEADER

A

Strategies for Building a Loan Originator Rock Star Team

ccording to the U.S. Bureau of Labor Statistics, loan officer and mortgage professional employment growth was forecasted to increase approximately 1% each year until 2030. However, in 2020 and 2021, our industry saw a flurry of growth as a result of low mortgage rates and a hot real estate market.

Like other lenders, Norcom Mortgage experienced this surge first-hand, and while some of our new loan officers had previous mortgage experience, others did not. Despite their level of experience, Norcom puts all of its new loan originators through a 30-day onboarding process where we review strategies and philosophies Greg Radding on building a loan originator “Rock Star” team, which include: • Access to Management = Hands-On Instruction, Transparency and Less Bureaucracy — To be successful in this industry, we believe loan originators need to have hands-on instruction from those who have been in their shoes.

Norcom Mortgage was established by loan officers and originators, so our management team understands the challenges our loan officers face on a day-to-day basis. This is why they are dedicated to mentoring and providing our loan officers and originators with the knowledge they need to thrive. Whether it is being onsite at one of our locations, answering emails and phone calls, or leading training sessions, our management team makes themselves readily available to all of our employees — seven days a week.

This interaction and work environ-

the time to learn about the newest marketing and sales tools, you’ll be more efficient at your job, and in turn, be able to close more loans.

ment also gives our loan originators the ability to work faster as they have less “red tape” to go through to get loan approvals.

• Communicate, communicate, communicate! — As with any business, if you work as a team, listen to your employees and customers, share information and ideas, and are transparent, your business prospers.

At Norcom, we provide our employees with several opportunities to collaborate and share their experiences and concerns, which helps us achieve our goals and do our best. There are monthly and weekly calls to review national real estate trends, housing market data, mortgage product changes, sales and closing techniques, and any new technologies.

These meetings are in addition to our mentorship and in-field support program where the management team counsels employees and highlights the company’s vision and goals.

• Utilize all of the Business Tools Available to You — While this seems very basic, some loan originators get stuck doing business one way, and don’t take the time to educate themselves on new technologies and tools that may be available to them.

For example, social media platforms offer mortgage professionals another way to market themselves to their referral sources and position themselves as experts or influencers in their field. However, loan originators need to be in tune with the ever-evolving algorithms, or their content won’t be seen. By taking

Other “business tools” to consider are community groups like your Chamber of Commerce or Rotary. By involving yourself in your community, you’ll not only perfect your networking skills, but establish a rapport with other business leaders who could end up being a referral source.

• Go for Gold — EVERY DAY — This mantra isn’t just about closing loans and achieving sales goals; it’s also about providing exceptional customer service.

Loan officers wear many hats. Customers expect you to be knowledgeable about all of the mortgage products available, provide them with the best mortgage rate and options, return phone calls promptly, meet critical deadlines, and most of all, be transparent about the loan process.

Those who are self-motivated, have an established marketing and sales plan, and a desire to deliver “gold” every day will stand out from the pack. Their personal brand will flourish and customers will seek them out for their mortgage needs.

As the industry looks to recruit and onboard other professionals, ask yourself, are you preparing and providing the support your employees need to achieve this “gold standard”?

At Norcom, many of our employees have been with us for more than 10 years. So, if you can’t answer that question and your attrition rate is 10% or higher, it may be time to reevaluate and take a page out of our book.

Greg Radding is the Senior Vice President, Retail Lending for Norcom Mortgage. He can be reached at greg@norcom-usa.com or (860) 899-3790.

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Creating A Culture Of Constant Learning EDUCATING EMPLOYEES WITH NEW SKILLS IMPROVES THE BORROWER EXPERIENCE

S

By DAWN

ELMORE , SPECIAL TO MORTGAGE WOMEN MAGAZINE

uccess in the mortgage industry is typically the result of creating and delivering a great experience for your customers, whoever they may be.

There are, of course, many obstacles that often get in the way. One of the largest is being able to teach your employees new skills in an industry that is constantly evolving.

Right now, the industry is changing faster than ever. As a historic refi boom comes to an end, originators are shifting their attention to homebuyers while expanding access to non-conventional loan products. In the meantime, millions of borrowers are coming off forbearance plans and need loan workouts. And the entire industry is under the increasing glare of regulators to make sure consumers are treated fairly.

All of this is pressuring organizations to find people to fill new roles, train existing staff for new jobs, and find ways to keep the talent they already have. It’s a tall order for any company — but the challenge is not insurmountable if you have the right mindset and tools in place.

THE IMPORTANCE OF CULTURE

Let’s face it, this is a highly transient industry. People come and go all the time, and the demand for talent fluctuates with each new market cycle. It’s the nature of the industry to hire up in good times and let staff go during bad times.

Needless to say, this trend can negatively impact company culture,

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Dawn Elmore is head of strategic initiatives at Sourcepoint

which is the most valuable aspect of an organization. According to PWC’s 2021 Global Culture Survey of 3,200 leaders and employees, 67% of survey respondents said culture is more important than strategy or operations.

Meanwhile, 69% of senior leaders tied their success during the pandemic to their company’s culture.

If you look at the most successful and long-lasting companies in our industry, you’ll find organizations that have worked hard to create a place where people feel respected and enjoy coming to work each day. A big part of that is providing people the opportunities to learn new skills and rise up the ranks. In other words, they create a culture of constant learning.

Make no mistake, we’ve entered the age of the knowledge economy, where growth is not measured by production but depends on the quality and accessibility of information. In order to stay competitive, lenders, servicers, and other mortgage-industry participants are increasingly relying on their ability to hire and retain employees who are well-educated on digital advancements, new regulations, and market trends, so they can better respond to customer needs.

To build a culture of learning, an organization needs to have a cohesive strategy. New and tenured employees have varied expectations about what they need to learn for their current job and what they want to learn to meet their personal career objectives.

Strategic learning initiatives also need the involvement of stakeholders from different areas of the organization.

Successful companies view their employees not as bodies to fill an office, but as unique individuals who want a successful mortgage career.

They know that if their people aren’t constantly learning, they’ll never reach their full potential in this industry — and neither will the company. That’s why the best companies typically develop what I call an ecosystem of learning. And in this ecosystem, technology plays a driving role.

HOW TECHNOLOGY HELPS Like many large organizations in our industry, my company devotes significant resources to training our

people. For example, we created Sourcepoint University, an inhouse framework for learning and a professional development center to help employees expand their services within the company. Still, it’s the engine that drives our training that has really made the difference.

Last year, we developed First Learning Intelligence, a virtual, onthe-job assessment platform that uses bot and AI technologies to create personalized learning pathways for employees. After employees finish formal training, First Learning Intelligence brings them to a master level of competency much more quickly than learning and making mistakes while on the job, which requires retraining and coaching employees.

First Learning Intelligence provides individualized training in real-time, using methods designed to enhance an employee’s domain expertise and professional development.

We call it learner-centric technology because it creates a personalized, engaging, and measurable learning experience that is driven by triggers and rewards. Essentially, it creates a culture of collaborative intelligence between human and machine. The digital learning formats engage the new generation of learners who are used to digital experiences and have found this medium engaging. Personalized, anytime learning helps them reach mastery faster and they feel more confident and prepared for the complex learning that occurs on the job.

With First Learning Intelligence, there are dozens of learning modules and literally hundreds of different learning pathways. Once you choose a module, a robot guides you through the learning process until you master that subject or area. Our most popular module right now is our underwriting module, which takes highly performing processors and provides them with mastery learning for the skills needed to make loan file decisions.

Because our learning modules are completely digital, we don’t have to invest as much money or time in hiring trainers — plus people learn in a much shorter time frame. Our modules also help with retention. First Learning Intelligence assures that everyone has an opportunity to improve their skills

In order to stay competitive, lenders, servicers, and other mortgage-industry participants are increasingly relying on their ability to hire and retain employees who are well-educated on digital advancements, new regulations and market trends, so they can better respond to customer needs. to move up the organization — even into leadership positions if they have the aspiration and the will to learn.

MAKING LEARNING CONSTANT

AI isn’t just useful for training employees so they can take on new roles. It can also be used to provide constant, on-the-job learning as well.

For example, right now, mortgage servicers are under a lot of pressure to help borrowers who have been financially impacted in some way by the pandemic and are struggling to make payments.

There are many ways these interactions with borrowers can turn sideways, which can prevent the borrower from getting the help they need — and cause a great deal of stress and frustration.

AI-driven technology, however, can now be used to evaluate these interactions in real time. Based on previous conversations with the same borrower, we can now analyze the borrower’s speech patterns and emotions to guide associates on how to create productive conversations — while they have the borrower on the phone. The concept is similar to mobile navigation apps that provide drivers with directions based on real-time traffic data.

CREATING OPPORTUNITIES FOR GROWTH

While some may believe the use of technology diminishes the importance of human expertise, the reality is it actually enhances it. Properly applied, technology also has the potential to

remove bias in learning and promotion opportunities, enabling all employees — especially women — to reach their highest potential.

I’m a perfect example of this. I began my career in the mortgage industry working in customer service. Thanks to on-the-job training opportunities, I’ve been able to move into new positions overseeing default, bankruptcy and mediation, and closing, just to name a few areas. Through the process, I’ve developed new leadership skills, I’ve become a better teammate, and I’ve grown personally, all because I had the opportunities to learn skills and the benefits of many amazing mentors and talented colleagues throughout my career.

Recently, I was recognized as one among the Powerful Women of Mortgage Banking, an honor that I doubt would have been possible if my company had not developed a culture built on constant learning and created opportunities for anyone to learn new skills. For this reason, my advice to any woman seeking a successful mortgage career is to look for companies that not only talk about diversity, but also invest in the resources to ensure that anyone who aspires to grow can thrive.

At the end of the day, smart organizations not only create great experiences for their customers, but they do the same for their people — and building a culture of constant learning is among the very best ways to do so.

After all, in an industry as dynamic and everchanging as ours, there’s always something new to learn. n

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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How Tragedy Is Transforming Condo Project Reviews

H

By LISA

GELOSO, Head of Product Development & Customer Success, CondoTek

enry Ford once said, “the only mistake is the one from which we learn nothing.”

To be sure, there are tons of mistakes that happen in the housing industry that are worth learning from, but few lessons have been as painful as the ones following the tragedy that took place in Surfside, Fla. last year.

The collapse of the Champlain Towers and the loss of 98 lives has forever changed the condominium market.

There have been few larger examples of this fact than Fannie Mae and Freddie Mac’s new guidance for financing condo and co-op properties, which will have a huge impact on the mortgage industry.

In particular, the new guidelines will significantly alter condo project reviews, which are going to be infinitely more complex and labor-intensive than before.

Fortunately, there are things lenders can do to prepare.

FOLLOWING UP ON FANNIE MAE AND FREDDIE MAC GUIDANCE The new GSE guidance offers a lot for lenders to chew on, starting with determining which condo projects are even available for financing.

For example, before lenders can do anything on a Fannie Mae loan, they

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Lisa Geloso, is head of product development & customer success at CondoTek

need to check Fannie Mae’s Condo Project Manager to see if the property the borrower wants to buy is actually available for financing. If it’s on Fannie’s new “unavailable” list, the answer is no.

Fannie Mae also requires a questionnaire that lenders need to fill out that creates multiple challenges for lenders, appraisers, and homeowner associations (HOAs), since some require responses that could open up liability issues for HOAs that

they aren’t prepared to deal with.

In addition, the GSE is requiring all condo and co-op projects, whether they are new or existing, to have a 10% line-item reserve in their operating budget, which many do not.

The guidance from Freddie Mac largely follows Fannie Mae’s. However, Freddie Mac is not changing reserve requirements for any project review types. According to its bulletin of Dec. 15, 2021, Freddie Mac will allow sellers to continue to rely on a working capital fund for new condominium projects or a reserve study for both established and new condominium projects when the project’s budget provides less than 10% replacement reserves.

Under the guidance from both GSEs, however, the largest impact on lenders will be the amount of time, effort, and resources they’ll need to devote on project reviews, which will include much more documentation about condo or co-op developments than ever.

In fact, it’s this change that’s likely to cause lenders the most trouble.

Prior to new GSE guidance, depending on the review type, the recommended documents needed to review a project were the typical documents, such as the projects legal documents, financials, appraisal, and questionnaires.

Now, however, lenders will need to determine if a project has any significant deferred maintenance or received a directive from a regulatory authority or inspection agency to make repairs due to unsafe conditions. When this is disclosed, lenders must now document any and all inspection reports, recent repairs and improvements, deferred maintenance, special assessments, and whether the project has the proper reserves in place to maintain the safety and habitability of the units.

important elements of Fannie Mae’s new guidance is the special assessment review. If a project has special assessments in place, a lender needs to request and review any documents related to them to find out what they are for and if they reveal structural or habitability issues down the road.

Some lenders have already been doing this, but for many, this will be a completely new process.

Fannie Mae has also suspended the ability to use reserve studies to approve new construction projects or existing developments. In the past, lenders could use the reserve study to show a project had significant reserves in place to handle maintenance and repairs. In fact, every lender we talk to uses them. But the new 10% requirement is typically much more than a new condo development requires since it’s unlikely that a building is going to have a structural failure in the near future. At the same time, we see a lot of existing developments that have large reserve accounts that don’t want or need to have 10% for reserves.

Because of the sheer amount of paperwork being requested, many lenders are turning to third parties for assistance. It’s also worthwhile to note that there may be changes to GSE guidance as well, since both are temporary.

We’ve heard that some large lending groups have been pushing back on some of these requirements, either because they don’t make sense, or they will be too impractical to implement.

We’re hopeful Fannie and Freddie take this feedback into consideration, but in the meantime, there are things lenders can and should be doing when looking at getting condo and co-op properties financed.

The collapse of the Champlain Towers and the loss of 98 lives has forever changed the condominium market.

WHAT’S BEEN HAPPENING To put it bluntly, these guidelines dropped like a bomb on the industry.

We were in communication with Fannie Mae before they came out and had discussed how the GSE was going to look at things like reserve studies.

But even we didn’t expect the depth and breadth of these guideline changes.

The reality is there has been a growing level of apathy among condo and co-op HOAs when it comes to making necessary repairs to their properties. In that sense, Fannie Mae and Freddie Mac are doing the right thing by basically requiring lenders to vet these developments more deeply to ensure they are structurally safe and there’s enough capital available to make necessary repairs.

Our hope is that new GSE guidance changes the industry in a good way. But they are already proving tough to deal with. For instance, within two weeks after the new Fannie Mae guidance came out, more than 900 properties were showing up as unavailable for financing on Condo Project Manager.

That number has escalated quickly in the three months since.

Lenders need to explore these projects with a completely different lens than before. For example, one of the most

WHAT CAN LENDERS DO? More important than getting financing for any specific condo or

co-op project, lenders should be making sure a tragedy like the Surfside condo collapse never happens again.

Lenders can help us get there by following a few basic best practices.

The very first thing is to determine a project’s eligibility through Condo Project Manager not only at the beginning of the origination process, but prior to closing as well. Assuming a project is eligible, they then need to review all appropriate documentation, including, but not limited to, the questionnaire, appraisal, budget, title, HOA meeting minutes if they are available, and violation searches and highlight possible red flags.

The point is to perform a thorough search for any information about construction and deferred maintenance that could possibly have an impact on a building’s safety and habitability. This should include any and all available inspection, engineering, or other certification reports completed within the past five years.

In some cases, lenders may need to exert pressure on HOAs to get the proper documentation and get the questionaries answered appropriately.

Some lenders are already using the GSEs’ questionnaires and incorporating them into their own questionnaires that they use, which we highly recommend.

Another good recommendation to obtain documentation is to seek out parties with an interest in the transaction such as the real estate agent, seller or unit owner, or buyer, as they may be able to provide documentation.

Beyond research, lenders need to train and align their sales, processing, and underwriting teams on new guidance from the GSEs and create a consistent underwriting policy for financing condo and co-op properties. While Fannie’s guidance doesn’t make room for reserve studies, for example, these documents are still useful for determining deferred maintenance and repair issues, so they should still be taken into account.

The bottom line is that the new GSE guidance will prove to be a challenge for condo and co-op lenders, and they are definitely not perfect. But the idea behind them is sound. No one in the housing industry wants another tragedy to occur. If that means going the extra mile in due diligence, it will be well worth the effort. n

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Why Do Loan Officers Play Musical Chairs?

SALES TRAINING MAKES THEM LESS LIKELY TO JUMP

T

By MEGAN

MARSH, Special contributor to Mortgage Women Magazine

he Good Vibe Squad, a marketing agency for loan officers, shared in their blog that the average loan officer closes 18-25 loans per year.

That is 1.5 to 2 loans a month!

No wonder so many loan officers are playing musical chairs among mortgage companies! But it doesn’t have to be this way if you zero in on building a culture focused on sales activity, accountability, and prioritizing people’s needs.

As a former producing loan originator who was closing one loan per day, I don’t know how one loan per month is even possible if a loan officer is doing only 20% of what they need to do to get business.

This brings up the real question all mortgage company leaders and loan originators should be asking themselves: “Are loan officers being taught, supported, and then held accountable to sales activity?

The key to growing and maintaining your mortgage origination business

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comes down to fundamental sales practices, something that is missing in many mortgage companies.

It seems as an industry, we bring young or new people into our organizations to “get business” (sell), teach them a little bit about mortgage stuff, the systems used, and then assume they know and are proficient at the life skills that have taken seasoned veterans years to establish.

Skills such as: • How to connect & build rapport • How to make clients & referral partners feel heard • How to add value • How to control emotions • How to manage time • How to close the deal The first six months are vital in setting the stage and determining if you are going to survive when starting out! Focus on actions that have a direct correlation to referrals and loan applications. For this reason alone, mortgage companies must have a laser focus during the first 90 days of new loan officer ramp up, on prospecting

and sales activity.

LOAN OFFICER INITIAL SUCCESS PATH

Usually newcomers are brought in to mortgages one of the following ways: 1. You were hired to become a mortgage loan processor or LOA for a busy loan officer, which helped you get a foot in the door, but you were dying to become that loan officer. You finally took the leap and now are trying to become that loan officer, but bringing in business is something you aren’t quite sure how to do correctly and there is no guide!

2. You were presented with an opportunity where you were told you could make your own schedule, work from where you chose, and make six figures your first year, right?!?

Riiiiigggghhhhhttttt!!! Now you are six months into this new career and you have closed only a few loans, and you are getting tired of ramen noodles.

You cannot and will not ask mom and dad for help. They were the first to tell you that you are crazy for taking a

fully commission-based job.

3. You worked your way through many positions at a local bank, and lending was where you excelled. You got a call from someone who recruited you and now you are working as a fully commissionbased loan officer and business isn’t coming to you like it did at the bank. You need to figure some things out quick!

Before moving forward, I want to mention a few things to the group of you who aren’t newbies. That ship has sailed and you understand mortgage info and process, but you have been disappointed with your lack of success. You might be frustrated that your company isn’t giving you any leads.

If this is your reality, ask yourself the following questions to figure out if you are working at the right company, with the right resources and leaders, and ultimately are in the right line of work: 1. Does your company have regularly scheduled training and practice sessions on who and how to reach referral sources?

Scripting? What sales activity is?

If they don’t, your problem starts here.

2. If they do, are you attending all of them?

And then taking what you learned and putting it into practice? (and not just trying something once, but for 90 days at least. There is some selfaccountability involved in this) 3. Does your company owner, sales manager, or another loan officer spend time with you each week, month, or quarter? Do they give you a hard time and hold you accountable?

4. Are you expected and held accountable to sales metrics and KPIs? 5. Are you provided tools or services that give you the WOW factor beyond just sending a bunch of numbers?

families build financial wealth. Both are byproducts of being able to sell yourself, but before you ever get to advise, you first need to build trust and get your phone ringing. This is sales and you need sales activities!

HELP YOUR LOAN OFFICERS CLOSE MORE LOANS WITH SALES ACTIVITIES

Wait a second. You thought you were becoming a mortgage expert, not a salesperson Managers, leaders and mortgage company owners need to take a good hard look at how they introduce and prepare the role of the modern loan originator. There is always a big push to learn products and processes.

Instead, there is a need to put a lot more thought and emphasis on the training and development of new team members, especially those entering into sales roles for the first time.

Yes, you are in sales. Loan originators fantasize about flexible schedules and big checks for advising first-time homebuyers and helping

In 2020 when we onboarded our first 10 loan officers, my business was fortunate to have the guidance of Rene Rodriguez, CEO of Volentum. He showed us what so many mortgage companies neglect and helped us outline the road to success.

Since then we have built training that is centered around learning how to sell.

This means that the topics, activities, and accountability tracking are centered around the things that are most important: • Building an initial database of people who know, like & trust you.

• Communication & scripting techniques.

• Finding ways to add value (beyond the normal “I have great rates & service” line).

• Holding new salespeople accountable to six things and six things only: - Prospecting; - Appointments; - Presentations; - Closing; - Aftercare, and - Repeat.

I am sure that there are many of you scratching your heads wondering why we would cover such topics when a loan officer has so much to learn and soak in. The systems alone make their heads spin and then figuring out all the rules that are hidden in the thousands of pages of Fannie & Freddie guidelines, leaves no room for sales stuff.

If you have developed any sort of CONTINUED ON PAGE 26

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

25

MUSICAL CHAIRS CONTINUED FROM PAGE 25

training, first pat yourself on the back for being 10 steps ahead of much of the industry. Then go and review it to see if it looks like most mortgage company training: The first few weeks of training typically covers: • Systems & technology used on the job; • Products and loan types; • The Loan Process, and • People who will be working on your loans.

Also, review how training is structured & taught: • Training? My company said there is no training, just on-the-job learning.

• Monkey see, monkey do. See this button in this LOS system, you enter this here and click there and then this screen will bring you over here, which is where you

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submit the request, that goes to the lock desk. They will send you a PDF, which notifies you to go back into that screen and … you don’t catch half of what is said or done.

• One week of onsite training with a workbook and videos.

Where is the SALES training?

Since your earnings potential is only limited by the number of loans you can close, you need to figure out the best ways to generate more leads and earn the trust of the clients and their friends.

Some of the best strategies we teach our new sales team members: • Pick a niche to focus on and become known for.

• Pair new hires with an experienced mentor.

• Creating a Sales Playbook with scripts and ideas for prospecting.

• Discipline and accountability through tracking activity and accountability meetings.

• Gamification — come up with a way to make it fun.

Strategies for Adding Sales Team Members Who Succeed As the owner of a mediumsize mortgage brokerage, we have onboarded several new and experienced loan officers during the past few years.

Figuring out what works and what has ended in failure continues to be our teacher in an industry that has no clear cut guidelines and rules.

The things we have found work really well are the following: 1. Hire the right candidates. We all have worked at companies where they will hire everyone and anyone to try and build a pipeline, but that is a disservice to the LO and is costly to you. The average person is going to experience sales-call reluctance and it is your job to coach them through that.

a. Depend on personality & sales assessments There are many out there and finding the right ones are key to assessments helping you make the right business decisions. When you find the assessments that work, you need to create rules for what your team looks for,

for each position, and not deviate based on your gut feelings. Here are a few assessments we have tried: • DISC Assessment; • SPQ Assessment, and • Strength Finders.

2. Bring new loan officers into the business by first training them in the key roles that will give them on-the job-learning experience. This includes: a. Loan Processing; b. Loan Closing, and c. LOA — Loan Officer Assistant.

This doesn’t mean you need to have them spend a year in each role.

It can be as much as three months in each core position before moving into full-time origination.

You will have a much more well-rounded loan originator who understands and respects your operations team after their rotation.

The employee will also have the knowledge and be able to focus on selling when they make the transition into sales.

3. Have a sales process & plan in place for new loan officers.

Training new loan officers is time consuming and expensive, but if done correctly will return 10 times the investment. Create a plan with milestones, check-ins, accountability tracking, scripts, and a way to hold them accountable to sales activity.

Make sure they don’t get tangled up in “wanting to know everything” before being willing to sell. Mortgage knowledge is a deep pool that you can drown in and make you never focus on the activities needed to get business in the door.

4. Lean on the resources & partners you work with that can help save you time. a. Mortgage insurance companies. b. W holesale lenders (if you are a broker). c. Tools like Leadpops and Mortgage Coach have resources, videos, and information that will teach your loan officers how to sell with their services.

5. Build two types of sales positions: one with more hand holding that provides leads and opportunities at a lower pay structure and another for those that want to be fully commissionbased and have the confidence to take

off right out of the gates. a. Inside Sales Team. For the loan officers who might take a little longer to develop their sales skills. They usually are great at customer service and connecting with your company’s incoming leads. b. Outside Sales Team. For the more experienced loan officers and new hires who are the perfect profile fit for a super seller. They are self starters who are driven by money and accomplishment.

The heart of the matter (and the reason for this article) is many loan officers jump into a mortgage career with the wrong expectations, followed by disappointing results. They blame the company or team and begin looking for another company to work for.

It wasn’t until I had been originating mortgages for over 10 years, that I came to the understanding I sold something. Yes, I originated mortgages, but I sold myself. I sold my business model, a mortgage brokerage, and I sold the benefits that a combination of the two could provide the real estate agents and clients they were working with.

I didn’t go out and sell FHA mortgages. I sold bank managers on the fact that if they couldn’t help their customers, they would go to another bank and move all their accounts and investments, without being presented another option. I was the perfect option because I didn’t want any checking or savings accounts. I could help them be the hero!

I didn’t go out and sell renovation loans. I educated real estate agents on saving time and money when a homebuyer found a perfect home in the neighborhood of their dreams, but it lacked the three-car garage and updated kitchen they had to have.

They could still consider buying this home with a niche product.

Therefore, if you want to be an organization or team that sets people up for success, retains your loan officers and helps them close more than 18-24 loans a year, it starts with identifying and looking within your company’s core foundation around who you are and what you do for your people, specifically your sales people.

Once you can do this, it’s time to take action! n

OPS & TEC H RE SOU RC E GU IDE

Global DMS Lansdale, PA Founded in 1999 and headquartered in Lansdale, Pennsylvania, Global DMS® is a leading provider of cloudbased commercial and residential real estate appraisal management software. The company’s solution set is cost-effectively delivered on a software-as-a-service (SaaS) transactional basis that ensures compliance adherence, reduces costs, increases efficiencies, and expedites the entire real estate appraisal process.

What tech solutions/ products does your company offer?

Global DMS’ EVO™ appraisal management platform seamlessly facilitates both residential and commercial real estate appraisals via intelligent, AI-powered automation and innovative features, like its digital appraisal forms, comprehensive reporting, and 100% self-configurablility that allows the end-user to customize all aspects of the software on the fly, including its fields, forms, reports, user-permissions, statuses, communications, automation, and more — no IT or development work required. The platform’s role-based design, with custom dashboards and task lists, and advanced review technology, further ensures compliance and helps deliver the most optimal appraisal process imaginable, regardless of one’s unique business model. evoinfo@globaldms.com globaldms.com

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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VISIONARY LEADHER MOST POWERFUL LEADHER AT NAREB

By DR. VANESSA MONTAÑEZ , CONTRIBUTING DIVERSITY WRITER TO MORTGAGE WOMEN MAGAZINE

“Y

our vision will become clear only when you can look into your own heart. Who looks outside, dreams, who looks inside, awakes.” By Carl Jung When I read this quote, I instantly thought of Lydia Pope because she is an extraordinary visionary paving the way for women and homeownership.

Lydia is the national president of NAREB, Broker, Entrepreneur, Influencer, and LeadHER. NAREB is the National Association of Real Estate Brokers. NAREB is the oldest trade organization to create an equal opportunity and civil rights advocacy for African American real estate professionals, consumers, and

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communities in America. NAREB was founded in 1947 and embraced all qualified real estate practitioners who are committed to achieving their vision, which is “Democracy in Housing.”

As a lender, one needs to join organizations such as NAREB that

support and engage in sustainable homeownership, democracy in housing, and building generational wealth for all.

This organization was pivotal in equal rights, fair housing, equal opportunity, and community development at the local, state, and federal levels. NAREB

Lydia set out to make a difference in her community, assisting others with the most significant investment in their lives, buying a home.

continues to champion African Americans and the underserved communities by promoting educational events, advocacy, homeownership, and leadership development. The mission drew Lydia Pope to the organization since 1998, and she is an active member.

Pope was voted the quietest student growing up in Cleveland, Ohio. Even though she had a calm demeanor, she had an inner calling and mission to make a difference in her community. She is one of 12 children, the second youngest. She received a full academic scholarship to become a broadcaster; that was her goal, but unfortunately, her father fell ill, and she had to care for him as her mother was unable to drive him to his medical treatments. Pope took it upon herself to go to a local college and work two parttime jobs to pay her way through school and assist her family financially.

Pope has a strong work ethic and determination to do what is necessary for her family and goals. She landed in real estate by accident. While in

school, she was working part-time at State Farm Insurance, where in the same building, there was a real estate company on the second floor. State Farm downsized, and she was out of a job. Because she had met the broker owner of the real estate company, she went to ask for an appointment the same day she lost her job in insurance.

Because of her determination, Pope landed a job in real estate. She had no clue or experience, but was determined to learn. She enrolled in real estate school and passed her exams. In 1991, she entered her career in real estate and never looked back. She realized real estate was her real passion. Her vision and mission were to help others with the most significant investment in their lives, owning a home. Pope is currently the broker owner of two companies, E & D Realty and Investment Company Inc. and New Era Real Estate in Cleveland, Ohio, with over 27 agents in one company and 77 agents in the other. Hard work works.

She is the third women president

of NAREB. She continues to break barriers by focusing on her vision and looking into her own heart. She focuses on women initiatives called WIRE, (Women In Real Estate).

WIRE identified Black women as a high-potential target market group for investing in real estate, pursuing homeownership, and growing careers in real estate. The goal is to increase access to financial information and capital for Black women; increase homeownership and real estate investment for them, and develop affordable housing by and for Black women. (“5 Pillars of NAREB”).

According to the State of Housing in Black America Report, Black women applying alone are emerging as major contributors to recent rise gains in Black homeownership. In 2020, 41% of Black applicants consisted of single women. Thus, creating an opportunity for mortgage professionals to cater to this segment. The numbers speak for themselves. (Carr et al.) Black women are the leaders in homeownership rates.

The charts compare the proportion of households headed by women versus men by race and ethnicity. Black has a higher share of owner-occupied households headed by females than any other category. (Perry) Pope attributes women, if they are single black women with a household of children, are looking for shelter, a place to call home, and protecting their children in a safe environment as one reason. Another reason is that Black women are outpacing all segments in education. “Percentagewise, Black women outpace white women, Latinas, Asian/Pacific Islanders, and Native Americans in this arena as well.” (Katz) That is why Pope is passionate about being a women’s voice in real estate, NAREB, her companies, and her community. She knows the power of homeownership and women.

She said, “The traditional way was to be home, take care of the children, and that’s it. But as we begin to grow into a new society and find out that is important when it comes to income base, you are being treated differently because of your gender. Then we go back, and we educate ourselves so that CONTINUED ON PAGE 30

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Lydia Pope, the national president of NAREB, is making an impact in real estate and is on a mission to bring more homeownership for Blacks.

VISIONARY ‘LEADHER’ CONTINUED FROM PAGE 29

now we have to prove to America that we can get a better education. We can make more money because we got this to substantiate for that.” Pope believes everyone should be a homeowner.

She understands hard work works and balances her career with spending

her weekends focused on her family.

She makes time for those she loves and opens the doors to her home on Sundays. She said, “We do Sunday dinner every Sunday unless we’re out of town or at a conference. But on Sundays, which is our favorite after church, to

cook dinner every Sunday, a big dinner, where everybody comes over. So our house is open to our family and friends.”

At the core, Pope is a visionary leadHER. She set out to make a difference in her community, assisting others with the most significant investment in their lives, buying a home. From helping one client, she transformed that into a career. As her career expanded and grew, she became an active member of NAREB. Furthermore, she raised her business, and in 2006 she took over the real estate company and became CEO after being an employee for 15 years. Her vision became clear when she followed her heart into real estate. She became awake. Nothing has come easy for her, but she had created her path when her vision became clear in the process. n Dr. Vanessa Montañez is the CEO and Co-founder of LeadHER Talks, a forum to enrich, empower, and educate women and a Mortgage LeadHER.

SOURCES: “5 Pillars of NAREB.” National Association of Real Estate Brokers, https://www.nareb.com/5-pillars-of-nareb/. Accessed 30 Jan. 2022.

Bureau, US Census. “2018 American Community Survey Single-Year Estimates.” Census.Gov, https://www.census.gov/newsroom/ press-kits/2019/acs-1year.html. Accessed 31 Jan. 2022.

Carr, James, et al. “Shiba Report.” National Association of Real Estate Brokers, 5 Nov. 2021, https://www.nareb.com/shiba-report/.

Katz, Nikki. “Who Are the Most Educated Women in America? Black Women.” ThoughtCo, 19 June 2020, https://www.thoughtco.com/ black-women-most-educated-group-us-4048763.

Perry, Vanessa Gail. 2020 State of Housing in Black America. 1 Nov. 2020.

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Hey, Irvine!

Join your fellow hard-working mortgage pros at the California Mortgage Expo.

T

he California Mortgage Expo, is one of California’s largest mortgage events for loan origination professionals. Network with hundreds of mortgage brokers, loan originators and bank and credit union lending officers from throughout the region for events full of education, networking and fun. The event includes a broad array of event partners from throughout the mortgage community, multiple education sessions and top speakers. You’ll be growing your business and your contacts in a setting packed with passion, professionalism and fun.

Plus, earn your NMLS continuing education credits at the FREE class, happening the next day and open to all conference attendees.

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Attend for free,* use code: MWMFREE

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Complimentary registration available to NMLS-licensed active LOs and their support staff. Show producers reserve the right to determine final eligibility.

NMLS Renewal class open to expo attendees only, other restrictions apply.

T

here’s no doubt 2021 was a good year to be an originator. But for some outstanding women it was a great year. Mortgage Women Magazine celebrates their accomplishments in the following pages. We commence with the Top 44 women originators by total dollar volume of originations. It’s a select group led by Nicole Rueth, senior vice president, Fairway Independent Mortgage Corp., with a total of $374.1 million for 907 units.

Nicole Rueth SVP, Fairway Independent Mortgage Corp.

Englewood, CO Purchase Vol. By Dollar Amount: $260,265,404 Purchase Vol. by No. Of Units: 605 Refi Vol. By Dollar Amount: $113,849,964 Refi Vol. By No. Of Units: 302 Dollar Vol. Total: $374,115,368 Unit Vol. Total: 907 States licensed: AL, AZ, AR, CA, CO, FL, GA, ID, IL, IN, KS, LA, MI, MN, MO, MT, NE, NV, NM, NC, OH, OK, OR, PA, SC, TN, TX, UT, VA, WA, WI, WY Building wealth through real estate through education, financial creativity, and generational prosperity. Mortgage lending redefined.

Tammy Saul

Melissa Bell Owner/ Originator, Federal Hill Mortgage Baltimore, MD Purchase Vol. By Dollar Amount:

Valentina Wilber VP, Branch Manager, McLean Mortgage Corp.

VP, Senior Mortgage Advisor, Homespire Mortgage

Fairfax, VA

Washington, DC

$125,343,898.90

Purchase Vol. By Dollar Amount: $206,899,727.

Purchase Vol.

By Dollar Amount: $242,358,157

Purchase Vol. by No. Of Units: 330

Purchase Vol. by No. Of Units: 408

Purchase Vol. by No. Of Units: 441

Refi Vol. By Dollar Amount: $187,317,366

Refi Vol. By Dollar Amount: $72,327,556

Refi Vol. By Dollar Amount: $36,214,437

Refi Vol. By No. Of Units: 609

Refi Vol. By No. Of Units: 181

Refi Vol. By No. Of Units: 66

Dollar Vol. Total: $312,661,264.90

Dollar Vol. Total: $279,227,283

Dollar Vol. Total: $278,572,594

Unit Vol. Total: 939

Unit Vol. Total: 589

Unit Vol. Total: 507

States Licensed: DC, MD, PA, VA

States Licensed: AL, DC, FL, MD, NC, SC, TN, VA

States Licensed: DC, MD, NC, VA

Tammy Saul, founding member of Federal Hill Mortgage in 2006, is a loan originator who has been recognized as a top producer nationally since 2016.

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I’m a Southern at heart with 20+ years of experience helping others secure home financing. Home Sweet Home for all has always been my ultimate goal.

My goal is to make every mortgage refinancing or home purchase the best experience that my clients have ever had.

Kara Whitman

Andrea Wine

Carol O’Connell

Senior Mortgage Consultant, Wyndham Capital Mortgage

Senior VP, Branch Manager, McLean Mortgage Corp.

Charlotte, NC

Fairfax, VA

VP, Builder Division, McLean Mortgage Corp.

Fairfax, VA

Purchase Vol.

By Dollar Amount: $38,691,783

Purchase Vol.

By Dollar Amount: $103,703,990

Purchase Vol. By Dollar Amount: $191,394,755

Purchase Vol. by No. Of Units: 118

Purchase Vol. by No. Of Units: 192

Purchase Vol. by No. Of Units: 395

Refi Vol. By Dollar Amount: $178,672,880

Refi Vol. By Dollar Amount: $112,391,342

Refi Vol. By Dollar Amount: $21,777,134

Refi Vol. By No. Of Units: 540

Refi Vol. By No. Of Units: 254

Refi Vol. By No. Of Units: 52

Dollar Vol. Total: $217,364,663

Dollar Vol. Total: $216,095,332

Dollar Vol. Total: $213,171,889

Unit Vol. Total: 658

Unit Vol. Total: 446

Unit Vol. Total: 447

States licensed: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MI, MN, MO, MT, NE, NV, NH, NJ, NM, NC, OH, OK, OR, PA, RI, SC, TN, TX, VA, WA, WI

States Licensed: DC, DE, FL, MD, NC, PA, SC, VA

States Licensed: DC, DE, FL, MD, NC, SC, VA

For over 20 years, it had been an honor to guide and help our clients achieve the American dream of homeownership!

Recognized as industry leader & professional, Carol O’Connell has helped satisfied customers achieve their dreams of homeownership for over 35 years.

Leslie Black

Leslie Wish

Kara’s ultimate goal is to help people achieve both financial and personal goals by leveraging their largest asset — our home!

Adrianne Pozzi Sales Manager, Finance of America Mortgage

Senior Mortgage Advisor, Finance of America Mortgage

Roseville, CA

Pasadena, CA

Senior Loan Officer, McLean Mortgage Corp.

Fairfax, VA

Purchase Vol. By Dollar Amount: $157,801,026

Purchase Vol.

By Dollar Amount: $111,088,656

Purchase Vol. By Dollar Amount: $86,922,633

Purchase Vol. by No. Of Units: 335

Purchase Vol. by No. Of Units: 138

Purchase Vol. by No. Of Units: 158

Refi Vol. By Dollar Amount: $2,455,263

Refi Vol. By Dollar Amount: $28,051,025

Refi Vol. By Dollar Amount: $48,708,159

Refi Vol. By No. Of Units: 7

Refi Vol. By No. Of Units: 47

Refi Vol. By No. Of Units: 112

Dollar Vol. Total: $160,256,289

Dollar Vol. Total: $139,139,681

Dollar Vol. Total: $135,630,792

Unit Vol. Total: 342

Unit Vol. Total: 185

Unit Vol. Total: 270

States Licensed: CA

States Licensed: CA

States Licensed: DC, MD, VA

Adrianne Pozzi was Finance of America Mortgage’s top female producer for volume in 2021. She prides herself on always being available to her clients.

Leslie’s reputation is built on knowledge, professionalism, and integrity. She is dedicated to helping clients get a mortgage that fits their needs.

Leslie Wish is a 34 yr veteran loan officer and has worked at McLean Mortgage Corp. for 10 yrs. Her team excels in individual attention to customers.

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

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Title, Company

Originator

34

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Jasmine Krnjetin

Mortgage Banker, Waterstone Mortgage

Atlanta, GA

$95,184,509

Mea Danigelis

Senior Loan Officer, McLean Mortgage Corp.

Fairfax, VA

$93,513,051

Skylar Welch

Partner/Originator, Maine Pointe Lending

Falmouth, ME

$69,762,562

Michelle Jacinto

Branch Manager, Direct Mortgage Loans

St. John, IN

$88,819,843

Molly Nadeau-Peterson

Branch Manager, Waterstone Mortgage

Elk River, MN

$57,019,814

Amy Wolff

Branch Manager, Direct Mortgage Loans

Frederick, MD

$56,381,583

Debra Shultz

SVP of Mortgage Lending, Guaranteed Rate Inc.

New York, NY

$55,456,596

Karen Crosby

Senior Mortgage Advisor, Finance of America Mortgage

Agoura Hills, CA

$19,153,960

Gwen Swain

Branch Manager, Waterstone Mortgage

Eagle, ID

$57,314,210

Peyton Fullerton

Branch Manager, Fairway Independent Mortgage

Denver, CO

$47,219,893

Loretta Flynn

Sales Manager, Senior Mortgage Advisor, McLean Mortgage Corp.

Warrenton, VA

$39,369,393

Amy Procaccino

Sales Manager/MLO, Finance of America

Hamilton, NJ

$57,276,286

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

States Licensed:

258

$35,501,040

110

$130,685,549

368

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

247

$27,686,781

77

$121,199,832

324

DC, DE, FL, MD, PA, VA, WV

207

$36,295,672

127

$106,058,234

334

FL, ME, MA, NH, VT

295

$15,657,307

88

$104,477,150

383

IL, IN

239

$44,599,197

179

$101,619,011

418

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

203

$41,548,669

145

$97,930,252

348

DC, DE, FL, MD, NC, PA, SC, VA, WV

75

$42,072,166

68

$97,528,762

143

AL, AK, AZ, AR, CA, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, VT, VA, WA, WV, WI, WY

37

$72,986,335

146

$92,140,295

183

AZ, CA, WA

194

$34,145,434

111

$91,459,644

305

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

93

$43,161,480

105

$90,381,373

198

CO

87

$46,078,603

129

$85,447,996

216

NC, SC, VA

207

$27,068,091

107

$84,344,377

314

FL, NJ, PA

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

35

Title, Company

Originator

36

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Shadia Museitif-Stewart

Branch Manager, Finance of America Mortgage

Kenosha, WI

$56,218,903

Jocelyn Lasher

Senior Loan Officer, McLean Mortgage Corp.

Ashburn, VA

$47,084,421

Paula White

Senior VP, Business Development, McLean Mortgage Corp.

Fairfax, VA

$59,758,249

Jennifer Sims

MLO/Branch Manager, Homestar Financial Corp.

Winder, GA

$55,624,382.16

Ann Fisher

Loan Officer, FitzGerald Financial Group

Annapolis, MD

$52,329,415

Rebecca Richardson

Senior Mortgage Consultant, Wyndham Capital Mortgage

Charlotte, NC

$41,818,623

Alison Beilke

Mortgage Loan Originator, Fairway Independent Mortgage Corp

Madison, WI

$37,917,690

Christine Turpen

Senior Loan Originator, Waterstone Mortgage

Albuquerque, NM

$49,402,947

Sue Albritton

Mortgage Loan Originator, Landmark Mortgage Planner a DBA of American Financial Network

Brea, CA

$57,687,274

Shelly Heimer

Branch Manager, H5 Financial a DBA of C2 Financial Corporation

Ramona, CA

$18,153,225

Michele Reen

Loan Officer, Direct Mortgage Funding

San Jose, CA

$17,298,197

Laurie Bisi

Mortgage Loan Originator, Mountain West Financial, Inc.

Sacramento, CA

$28,566,604

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

250

$22,246,081

97

$78,464,984

347

IL, WI

109

$28,664,584

80

$75,7495

189

DC, MD, VA

132

$15,973,754

41

$75,7323

173

VA

232

$19,543,701.84

82

$75,168,084

314

AL, FL, GA, IL, IN, LA, MS, NC, SC, TN, VA

133

$20,795,681

58

$73,125,096

191

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

135

$28,178,085

91

$69,996,708

226

AL, AZ, AR, CA, CO, CT, FL, GA, ID, IL, IN, MD, MN, MO, NV, NJ, NC, OH, OK, OR, PA, SC, TN, TX, VA

137

$31,828,718

115

$69,746,408

252

MN, WI

States Licensed:

224

$20,166,678

91

$69,569,625

315

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

239

$11,571,321

48

$69,258,595

287

FL

34

$50,212,062

112

$68,365,287

146

CA

29

$47,483,050

98

$64,781,247

127

CA

56

$34,611,327

85

$63,177,931

141

CA

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

37

Title, Company

Originator

38

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Fairfax, VA

$56,651,037

Rebecca Chwirut

Loan Officer, McLean Mortgage Corp.

Kasey Martin

Loan Officer, FitzGerald Financial Group

Rockville, MD

$35,513,267

Jennifer White

Senior Loan Officer, TowneBank Mortgage

Glen Allen, VA

$43,811,017

Tara Rodgers

Senior Loan Officer, Goldwater Bank NA

Birmingham, AL

$41,133,609

Claudia Rios

Loan Originator, First Community Mortgage

Franklin, TN

$47,712,044

Rebecca Alley

VP Mortgage Banker, Capital Mortgage Funding

Southfield, MI

$20,045,422

Monica Rucker

Senior Loan Officer, Fairway Independent Mortgage

Canton, TX

$43,548,477

Nancy Rosenfeld

Sales Manager, McLean Mortgage Corp.

Charlotte, NC

$28,739,471

Devon Eastlack

Senior Loan Officer, McLean Mortgage Corp.

Salisbury, MD

$29,922,779

Kenia Escobar

Loan Officer, Homespire Mortgage

Rockville, MD

$33,104,734

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

124

$6,325,173

18

$62,976,210

142

MD, VA

79

$24,202,224

63

$59,715,491

142

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

110

$13,503,265

44

$57,314,282

154

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

193

$12,846,869

61

$53,980,478

254

Continental U.S.

193

$5,864,453

27

$53,576,497

220

AL, CO, CT, DE, FL, GA, ID, IN, IA, KS, KY, LA, MI, MN, MS, MO, MT, NE, NV, NM, NC, OH, OK, PA, SC, SD, TN, TX, UT, VA, WI, WY

101

$33,190,521

137

$53,235,943

238

CA, CO, FL, GA, IN, KY, MI, MO, OH, TN, TX

224

$9,357,136

218

$52,905,613

442

FL, TX

96

$23,116,261

76

$51,855,732

172

FL, NC, SC, VA

105

$21,882,208

79

$51,804,987

184

DE, FL, MD, PA, VA

106

$18,621,413

59

$51,726,147

165

DC, MD, VA

States Licensed:

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

39

I

n the prior pages, Mortgage Women Magazine focused on the top women originators based on volume. This collection of 61 women kept themselves busy. The leader was Tammy Saul, owner/originator, Federal Hill Mortgage, Baltimore, Maryland. Between refinance and purchase originations, she had 939 total units for a volume of $312.6 million.

That works out to 3 units a day (assuming she took at least one day off a week!)

Tammy Saul Owner/Originator, Federal Hill Mortgage Baltimore, MD Purchase Vol. By Dollar Amount: $125,343,898.90 Purchase Vol. by No. Of Units: 330 Refi Vol. By Dollar Amount: $187,317,366 Refi Vol. By No. Of Units: 609 Dollar Vol. Total: $312,661,264.90 Unit Vol. Total: 939 States licensed: DC, MD, PA, VA Tammy Saul, founding member of Federal Hill Mortgage in 2006, is a loan originator who has been recognized as a top producer nationally since 2016.

Nicole Rueth

Kara Whitman Senior VP, Fairway Independent Mortgage Corp.

Melissa Bell Senior Mortgage Consultant, Wyndham Capital Mortgage

Englewood, CO

Charlotte, NC

VP, Branch Manager; McLean Mortgage Corp.

Fairfax, VA

Purchase Vol. By Dollar Amount: $260,265,404

Purchase Vol.

By Dollar Amount: $38,691,783

Purchase Vol. By Dollar Amount: $206,899,727.

Purchase Vol. by No. Of Units: 605

Purchase Vol. by No. Of Units: 118

Purchase Vol. by No. Of Units: 408

Refi Vol. By Dollar Amount: $113,849,964

Refi Vol. By Dollar Amount: $178,672,880

Refi Vol. By Dollar Amount: $72,327,556

Refi Vol. By No. Of Units: 302

Refi Vol. By No. Of Units: 540

Refi Vol. By No. Of Units: 181

Dollar Vol. Total: $374,115,368

Dollar Vol. Total: $217,364,663

Dollar Vol. Total: $279,227,283

Unit Vol. Total: 907

Unit Vol. Total: 658

Unit Vol. Total: 589

States Licensed: AL, AZ, AR, CA, CO, FL, GA, ID, IL, IN, KS, LA, MI, MN, MO, MT, NE, NV, NM, NC, OH, OK, OR, PA, SC, TN, TX, UT, VA, WA, WI, WY

States Licensed: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MI, MN, MO, MT, NE, NV, NH, NJ, NM, NC, OH, OK, OR, PA, RI, SC, TN, TX, VA, WA, WI

States Licensed: AL, DC, FL, MD, NC, SC, TN, VA

Building wealth through real estate through education, financial creativity, and generational prosperity. Mortgage lending redefined.

40

www.mortgagewomenmagazine.com

Kara’s ultimate goal is to help people achieve both financial and personal goals by leveraging their largest asset — our home!

I’m a Southern at heart with 20+ years of experience helping others secure home financing. Home Sweet Home for all has always been my ultimate goal.

Kimberly Viteri

Jennifer Salazar

Valentina Wilber

Mortgage Advisor, Fairway Independent Mortgage

Senior Loan Officer, Fairway Independent Mortgage

VP, Senior Mortgage Advisor, Homespire Mortgage

Wilton Manors, FL

Garland, TX

Washington, DC

Purchase Vol.

By Dollar Amount: $18,743,318

Purchase Vol. By Dollar Amount: $29,785,808

Purchase Vol.

By Dollar Amount: $242,358,157

Purchase Vol. by No. Of Units: 555

Purchase Vol. by No. Of Units: 284

Purchase Vol. by No. Of Units: 441

Refi Vol. By Dollar Amount: $5,918,710

Refi Vol. By Dollar Amount: $8,784,257

Refi Vol. By Dollar Amount: $36,214,437

Refi Vol. By No. Of Units: 21

Refi Vol. By No. Of Units: 280

Refi Vol. By No. Of Units: 66

Dollar Vol. Total: $24,662,028

Dollar Vol. Total: $38,570,065

Dollar Vol. Total: $278,572,594

Unit Vol. Total: 576

Unit Vol. Total: 564

Unit Vol. Total: 507

States Licensed: FL, GA, TX

States Licensed: TX

States Licensed: DC, MD, NC, VA

Kim strives to educate her clients on their options and make sure each transaction is the right option that matches with the clients financial goals.

Graduated (SMU) 2004, started in the Mortgage Industry. 2013, 2015, and 2017 spoke on a panel, Todd Duncan’s Sales Mastery. Passion to serve

My goal is to make every mortgage refinancing or home purchase the best experience that my clients have ever had.

Carol O’Connell

Andrea Wine

Monica Rucker

VP, Builder Division, McLean Mortgage Corp.

Senior VP, Branch Manager, McLean Mortgage Corp.

Fairfax, VA

Fairfax, VA

Senior Loan Officer, Fairway Independent Mortgage Canton, TX

Purchase Vol. By Dollar Amount: $191,394,755

Purchase Vol.

By Dollar Amount: $103,703,990

Purchase Vol. By Dollar Amount: $43,548,477

Purchase Vol. by No. Of Units: 395

Purchase Vol. by No. Of Units: 192

Purchase Vol. by No. Of Units: 224

Refi Vol. By Dollar Amount: $21,777,134

Refi Vol. By Dollar Amount: $112,391,342

Refi Vol. By Dollar Amount: $9,357,136

Refi Vol. By No. Of Units: 52

Refi Vol. By No. Of Units: 254

Refi Vol. By No. Of Units: 218

Dollar Vol. Total: $213,171,889.

Dollar Vol. Total: $216,095,332

Dollar Vol. Total: $52,905,613

Unit Vol. Total: 447

Unit Vol. Total: 446

Unit Vol. Total: 442

States Licensed: DC, DE, FL, MD, NC, SC, VA

States Licensed: DC, DE, FL, MD, NC, PA, SC, VA

States Licensed: FL, TX

Recognized as industry leader & professional, Carol O’Connell has helped satisfied customers achieve their dreams of homeownership for over 35 years.

For over 20 years, it had been an honor to guide and help our clients achieve the American dream of homeownership!

Started in the industry 1993 in Canton TX. Helping people buy a home is what makes this the most rewarding and fulfilling job imaginable.

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

41

Title, Company

Originator

42

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Molly Nadeau-Peterson

Branch Manager, Waterstone Mortgage

Elk River, MN

$57,019,814

Michelle Jacinto

Branch Manager, Direct Mortgage Loans

St. John, IN

$88,819,843

Jasmine Krnjetin

Mortgage Banker, Waterstone Mortgage

Atlanta, GA

$95,184,509

Amy Wolff

Branch Manager, Direct Mortgage Loans

Frederick, MD

$56,381,583

Shadia Museitif-Stewart

Branch Manager, Finance of America Mortgage

Kenosha, WI

$56,218,903

Adrianne Pozzi

Sales Manager, Finance of America Mortgage

Roseville, CA

$157,801,026

Skylar Welch

Partner/Originator, Maine Pointe Lending

Falmouth, ME

$69,762,562

Mea Danigelis

Senior Loan Officer, McLean Mortgage Corp.

Fairfax, VA

$93,513,051

Christine Turpen

Senior Loan Originator, Waterstone Mortgage

Albuquerque, NM

$49,402,947

Jennifer Sims

MLO/Branch Manager, Homestar Financial Corp.

Winder, GA

$55,624,382.16

Amy Procaccino

Sales Manager/MLO, Finance of America

Hamilton, NJ

$57,276,286

Gwen Swain

Branch Manager, Waterstone Mortgage

Eagle, ID

$57,314,210

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

States Licensed:

239

$44,599,197

179

$101,619,011

418

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

295

$15,657,307

88

$104,477,150

383

IL, IN

258

$35,501,040

110

$130,685,549

368

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

203

$41,548,669

145

$97,930,252

348

DC, DE, FL, MD, NC, PA, SC, VA, WV

250

$22,246,081

97

$78,464,984

347

IL, WI

335

$2,455,263

7

$160,256,289

342

CA

207

$36,295,672

127

$106,058,234

334

FL, ME, MA, NH, VT

247

$27,686,781

77

$121,199,832

324

DC, DE, FL, MD, PA, VA, WV

224

$20,166,678

91

$69,569,625

315

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

232

$19,543,701.84

82

$75,168,084

314

AL, FL, GA, IL, IN, LA, MS, NC, SC, TN, VA

207

$27,068,091

107

$84,344,377

314

FL, NJ, PA

305

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

194

$34,145,434

111

$91,459,644

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

43

Title, Company

Originator

44

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Sue Albritton

Mortgage Loan Originator, Landmark Mortgage Planner a DBA of American Financial Network

Brea, CA

$57,687,274

JoAnna Camposano

Senior Loan Officer, Fairway Independent Mortgage Corp

Del Rio, TX

$32,389,349

Leslie Wish

Senior Loan Officer, McLean Mortgage Corp.

Fairfax, VA

$86,922,633

Mary White

Senior Loan Officer, TowneBank Mortgage

Glen Allen, VA

$35,891,699

Tara Rodgers

Senior Loan Officer, Goldwater Bank NA

Birmingham, AL

$41,133,609

Alison Beilke

Mortgage Loan Originator, Fairway Independent Mortgage Corp.

Madison, WI

$37,917,690

Rebecca Alley

VP Mortgage Banker, Capital Mortgage Funding

Southfield, MI

$20,045,422

Rebecca Richardson

Senior Mortgage Consultant, Wyndham Capital Mortgage

Charlotte, NC

$41,818,623

Claudia Rios

Loan Originator, First Community Mortgage

Franklin, TN

$47,712,044

Loretta Flynn

Sales Manager, Senior Mortgage Advisor, McLean Mortgage Corp.

Warrenton, VA

$39,369,393

Peyton Fullerton

Branch Manager, Fairway Independent Mortgage

Denver, CO

$47,219,893

Ann Fisher

Loan Officer, FitzGerald Financial Group

Annapolis, MD

$52,329,415

Jocelyn Lasher

Senior Loan Officer, McLean Mortgage Corp.

Ashburn, VA

$47,084,421

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

239

$11,571,321

48

$69,258,595

287

FL

185

$17,440,419

$49,829,768

285

TX

158

$48,708,159

112

$135,630,792

270

DC, MD, VA

231

$7,892,649

37

$43,784,348

268

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

193

$12,846,869

61

$53,980,478

254

Continental U.S.

137

$31,828,718

115

$69,746,408

252

MN, WI

101

$33,190,521

137

$53,235,943

238

CA, CO, FL, GA, IN, KY, MI, MO, OH, TN, TX

135

$28,178,085

91

$69,996,708

226

AL, AZ, AR, CA, CO, CT, FL, GA, ID, IL, IN, MD, MN, MO, NV, NJ, NC, OH, OK, OR, PA, SC, TN, TX, VA

193

$5,864,453

27

$53,576,497

220

AL, CO, CT, DE, FL, GA, ID, IN, IA, KS, KY, LA, MI, MN, MS, MO, MT, NE, NV, NM, NC, OH, OK, PA, SC, SD, TN, TX, UT, VA, WI, WY

87

$46,078,603

129

$85,447,996

216

NC, SC, VA

93

$43,161,480

105

$90,381,373

198

CO

133

$20,795,681

58

$73,125,096

191

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

109

$28,664,584

80

$75,7495

189

DC, MD, VA

States Licensed:

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

45

Title, Company

Originator

46

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Leslie Black

Senior Mortgage Advisor, Finance of America Mortgage

Pasadena, CA

$111,088,656

Devon Eastlack

Senior Loan Officer, McLean Mortgage Corp.

Salisbury, MD

$29,922,779

Karen Crosby

Senior Mortgage Advisor, Finance of America Mortgage

Agoura Hills, CA

$19,153,960

Paula White

Senior VP, Business Development, McLean Mortgage Corp.

Fairfax, VA

$59,758,249

Pamela Vroman

Branch Manager, Direct Mortgage Loans

Timonium, MD

$34,043,689

Nancy Rosenfeld

Sales Manager, McLean Mortgage Corp.

Charlotte, NC

$28,739,471

Corey Glowacki

Mortgage Banker, Direct Mortgage Loans

Bel Air, MD

$34,763,589

Camille Wilkinson

Branch Manager, Direct Mortgage Loans

Mobile, AL

$23,2734

Kenia Escobar

Loan Officer, Homespire Mortgage

Rockville, MD

$33,104,734

Stephanie Nelson

Mortgage Loan Originator, USA Mortgage

Jonesboro, AR

$20,163,502

Jennifer White

Senior Loan Officer, TowneBank Mortgage

Glen Allen, VA

$43,811,017

Shana Enriquez

Residential Lending Specialist, Ideal lending a DBA of American Financial Network

Brea, CA

$22,833,872

Shelly Heimer

Branch Manager, H5 Financial a DBA of C2 Financial Corp.

Ramona, CA

$18,153,225

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

138

$28,051,025

47

$139,139,681

185

CA

105

$21,882,208

79

$51,804,987

184

DE, FL, MD, PA, VA

37

$72,986,335

146

$92,140,295

183

AZ, CA, WA

132

$15,973,754

41

$75,7323

173

VA

129

$12,,025

43

$46,143,714

172

MD, VA

96

$23,116,261

76

$51,855,732

172

FL, NC, SC, VA

115

$13,578,122

52

$48,341,711

167

MD

119

$8,687,276

47

$31,960,280

166

AL, FL, MS

106

$18,621,413

59

$51,726,147

165

DC, MD, VA

138

$2,505,457

18

$22,668,959

156

AR, TN

110

$13,503,265

44

$57,314,282

154

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

69

$23,658,442

83

$46,492,314

152

FL

34

$50,212,062

112

$68,365,287

146

CA

States Licensed:

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

47

Title, Company

Originator

48

City, State/ Province/Region

Purchase Vol. By Dollar Amount

Kristine Arbogast

VP/Senlor Loan Officer, Towne First Mortgage

Glen Allen, VA

$37,312,550

Debra Shultz

Senior VP of Mortgage Lending, Guaranteed Rate Inc.

New York, NY

$55,456,596

Kasey Martin

Loan Officer, FitzGerald Financial Group

Rockville, MD

$35,513,267

Rebecca Chwirut

Loan Officer, McLean Mortgage Corp.

Fairfax, VA

$56,651,037

Laurie Bisi

Mortgage Loan Originator, Mountain West Financial, Inc.

Sacramento, CA

$28,566,604

Jeri Benner

Loan Officer, FitzGerald Financial Group

Frederick, MD

$21,059,246

Michele Reen

Loan Officer, Direct Mortgage Funding

San Jose, CA

$17,298,197

Stephanie Wood

RMLO, Core Lending

Conroe, TX

$27,730,507

Gail Burns

Senior Loan Officer, TowneBank Mortgage

Williamsburg, VA

$24,196,527

Renee Bevan

VP/Senior Mortgage Loan Officer, TowneBank Mortgage

Newport News, VA

$33,108,016

Marie Perry

Mortgage Loan Originator, Bayview Asset Management, LLC

Coral Gables, FL

$0

Megan Wendtland

Loan Officer, Fairway Independent Mortgage Corp.

DuPont, WA

$21,601,000

LIsa Lawson

VP Mortgage Banker, Capital Mortgage Funding

Southfield, MI

$9,059,376

www.mortgagewomenmagazine.com

Purchase Vol. By No. Of Units

Refi Vol. By Dollar Amount

Refi Vol.

By No. Of Units

Dollar Vol. Total

Unit Vol. Total

125

$4,922,382

21

$42,234,932

146

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

States Licensed:

75

$42,072,166

68

$97,528,762

143

AL, AK, AZ, AR, CA, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, VT, VA, WA, WV, WI, WY

79

$24,202,224

63

$59,715,491

142

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

124

$6,325,173

18

$62,976,210

142

MD, VA

56

$34,611,327

85

$63,177,931

141

CA

64

$21,102,611

68

$42,161,857

132

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

29

$47,483,050

98

$64,781,247

127

CA

$7,637,150

26

$35,367,657

126

AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, WY

57

$20,952,593

64

$45,149,120

121

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

55

$13,206,577

39

$46,314,593

94

CO, DC, DE, FL, GA, MD, NC, PA, SC, TN, TX, VA, WV

0

$17,000.000

84

$17,000,000

84

AL, AK, AR, CA, CO, DC, DE, FL, GA, IL, IN, IA, LA, ME, MI, MN, NE, NC, ND, OK, SD, TN, TX, VA, WI

50

$10,000,000

31

$31,601,000

81

AZ, ID, IL, WA

49

$4,082,660

30

$13,142,036

79

AL, IL, IN, MI, MO, OH, TX

MORTGAGE WOMEN MAGAZINE • Issue 2, 2022

49

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19 MAY

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MAY

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24 JUN

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23 JUL

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JUL

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Mid-South Mortgage Expo C H ICAG O, IL

AUG

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Non-QM Summit

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Texas Mortgage Roundup DA LL A S , TX

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