NMP National Mortgage Professional June 2023

SayGay!

LGBTQ+ ENTREPRENEURS LIKE ANDRES MUNAR FIND SUCCESS IN A TOUGH SPACE

MARKETING TO THE LGBTQ+ COMMUNITY DISCRIMINATION IS STILL PREVALENT IN HOMEBUYING JOURNEY

DEALING WITH DIFFICULT PEOPLE

HOW TO WIN WITH CASH BUYERS

THERE’S MONEY TO BE MADE DOWN THE ROAD

SPECIAL SECTION

PRISM AWARDS

2023

> PAGE 56

SayGay!

LGBTQ+ ENTREPRENEURS LIKE ANDRES MUNAR FIND SUCCESS IN A TOUGH SPACE

MARKETING TO THE LGBTQ+ COMMUNITY DISCRIMINATION IS STILL PREVALENT IN HOMEBUYING JOURNEY

DEALING WITH DIFFICULT PEOPLE

HOW TO WIN WITH CASH BUYERS

THERE’S MONEY TO BE MADE DOWN THE ROAD

SPECIAL SECTION

PRISM AWARDS

2023

> PAGE 56

Accepting All, In Faith And Finance

I’m expecting to get a lot of hate mail. Across this nation, we’re witnessing an abhorrent rush to eradicate, or at the very least marginalize, anyone and anything that doesn’t comport with what some conservative zealots believe.

If you’re a woman, your health choices are no longer your own — even in states bragging that they are making it easier for people to have bodily autonomy regardless of how many other people suffer. Mobs who profess to cherish freedom of speech want to stop the free speech of drag queens.

If you’re transgender, all the science and advice of trained medical professionals isn’t stopping cruel and sadistic politicians from using bad law to try to eradicate you. And if you’re LGBTQ+, discrimination is being reinvigorated and reimagined in new laws that give folks wide latitude to refuse service or goods based on their religious beliefs, be they strongly held or simply convenient excuses.

From an extended period in which we, as a nation, embraced the idea that each of us should be free to live our life in love and community, we are rapidly descending into a new era of condescension, bigotry, and stupidity. We want to curtail freedom, impose arbitrary and capricious morals on others, and put a boot heel on the necks of any who disagree. If people are allowed to deny service to a gay couple because of a moral objection, it will not be long before we are back to the dark ages of refusing housing or financing because of someone’s “difference.”

At NMP, we’re glad to spotlight the diversity inherent in our nation, whether that be because of race, wealth, or gender. The world is big enough for everyone. But it’s hard for non-white, non-male, non-conservative mortgage pros to grow and find support and harmony in other colleagues in the industry. How can we be sure? Because when we simply sent out an email asking for companies who support these initiatives to identify themselves, we were bombarded with vicious, vile, and vindictive responses. Clearly, there are many in the mortgage ecosystem who want gay participants to get out or shut up and sit down. (We see the same whenever we look for achieving women.)

Read through this issue, and you’ll find a number of amazing and talented mortgage pros who happen to be LGBTQ+. If we, as an origination community, are to be a source for home loans, we each need to be that source for everyone — not just those who look and think like the originator. We need the widest possible pool of potential borrowers. It’s the only way out of this mortgage recession we’re in. Let’s accept everyone for who they are, and celebrate not just folks who are top producers, but those who are still overcoming roadblock after roadblock. It seems to me that’s the wisest — and most human — course to take.

I’m expecting to get a lot of hate mail.

VINCENT M. VALVO Publisher, Editor-in-Chief

STAFF

Vincent M. Valvo

CEO, PUBLISHER, EDITOR-IN-CHIEF

Beverly Bolnick

ASSOCIATE PUBLISHER

Christine Stuart

EDITORIAL DIRECTOR

David Krechevsky

EDITOR

Keith Griffin

SENIOR EDITOR

Gary Rogo

SPECIAL SECTIONS EDITOR

Mary Quinn

MULTIMEDIA PRODUCER

Erica Drzewiecki, Katie Jensen, Ryan Kingsley, Sarah Wolak

STAFF WRITERS

Rob Chrisman, Dave Hershman, Erica LaCentra, Harvey Mackay, Lew Sichelman, Mary Kay Scully

CONTRIBUTING WRITERS

Nicole Coughlin, Nichole Cakirca

ADVERTISING ASSOCIATES

Alison Valvo

DIRECTOR OF STRATEGIC GROWTH

Steven Winokur

CHIEF MARKETING OFFICER

Julie Carmichael

PROJECT MANAGER

Meghan Hogan

DESIGN MANAGER

Stacy Murray, Christopher Wallace

GRAPHIC DESIGN MANAGERS

Navindra Persaud

DIRECTOR OF EVENTS

William Valvo

UX DESIGN DIRECTOR

Andrew Berman

HEAD OF CUSTOMER OUTREACH AND ENGAGEMENT

Tigi Kuttamperoor, Matthew Mullins

MULTIMEDIA SPECIALISTS

Melissa Pianin

MARKETING & EVENTS ASSOCIATE

Kristie Woods-Lindig

ONLINE ENGAGEMENT SPECIALIST

Joel Berman

FOUNDING PUBLISHER

Submit your news to editors@ambizmedia.com

If you would like additional copies of National Mortgage Professional Call (860) 719-1991 or email subscriptions@ambizmedia.com www.ambizmedia.com

© 2023 American Business Media LLC. All rights reserved. National Mortgage Professional 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

Dealing With Today’s More Difficult People

Help them isolate the issues through good communication

BY DAVE HERSHMAN, CONTRIBUTOR, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

You just need to look at the news lately to realize that there are more difficult people out there. People are getting arrested for being unruly on airlines it seems almost every day. The number of incidents continues to climb incessantly. As a manager, today you are more likely to have to deal with difficult employees, plus you are more likely to have to counsel your employees who are dealing with difficult customers. It is just a sad,

but true sign of the times.

Within my mortgage management books and seminars, I have often spoken of this important rule … Fire the Wrong People

A simple rule stated even more simply: If you hire the wrong people and keep them, you will never, never, never be a good manager. It is impossible to manage well with the wrong people.

When you get in the position of analyzing who is “right” and who is “not right” for your office, you will be in effect more likely to be dealing with

a difficult person. That does not mean that all people who are not succeeding are difficult. But even if someone is the nicest person in the world, if you have to correct their actions or take more serious disciplinary measures, it is at best a difficult situation. Sometimes it is easier to fire someone who is difficult as opposed to someone who is nice. So, someone is difficult. How do you deal with them?

• First find the source of difficulty. If they are complaining all the time about poor processing, is it poor processing or are they unhappy with something else? They may be unhappy with themselves and their performance. Or they may be causing inefficient processing because of the quality of their originations. But they are not going to be wandering around complaining about themselves. They are going to complain about processing.

• Second, help them isolate the issues through good two-way communication. Start with general, open-ended questions that get them

talking. For example — you have mentioned several times that you are unhappy with ________. What has caused you to become unhappy and if this situation were corrected do you feel that you could perform up to your potential? Just the fact that they have been heard may take away some of the stress associated with the situation.

• After the issue is isolated, take steps to deal with the problem. They may be handling the complaint in the wrong way, but it does not mean that there is not a problem that needs to be solved. Solving it helps you in two ways. First, it makes your office/company better. Second, it removes their barrier to better performance, whether the barrier was real or not.

you will have a harder time dealing with difficult people and difficult situations. When rates rise and refinances dwindle, you will have more difficult personnel choices to implement. When production is flowing, personnel flaws may not stick out as much because everyone is so busy. When people have more time on their hands, it is easier to spot issues that need to be corrected. On the other side of the coin, if a loan officer is difficult but a good producer, it is tougher to cut the cord as production wanes. Therefore, it becomes more imperative for you to “address” the situation rather than just cut the cord.

Most important of all, if you are harboring difficult people and not addressing the situation, you may be preventing great people from coming to your company. Many times I have

• Follow-up. After the barrier has been removed, do not let the person off the hook by letting them wander off. Let them know that you are expecting reciprocity. If they don’t see you making them accountable, then there is no reason for them to change their behavior. Do not get the idea that difficult people are just those who complain. There are many other types of difficult people. For example, those who do not listen and those who explode or overreact every time something goes wrong. Each situation entails a different process to resolve the issue. The ability to adapt to different situations is a management trait that is very important.

It is also important to note that the hiring process and development of a company culture is all-important in preventing these situations before you get to the confrontational and/or firing stages. Are outbursts by others tolerated because they may be seen as more valuable players? Even more important, are you the best example in this regard? If you can’t be the best example, then

heard this in the industry: I would not work at that company because I know ______ is there.

Ask yourself this question: is your present staff hampering your recruiting efforts?

Again, most of this advice applies to your customers who are being difficult. Our loan officers need to handle their grievances much in the same way. The fact that production is lower feeds an environment that we are either originating loans with more difficult situations and/or tolerating abuse of employees by customers because we “need the business.” Lower production environments should give us more time to deal with difficult situations, but in reality they can give us more situations to deal with. n

Dave Hershman is a top author in this industry with seven books published as well as the founder of the OriginationPro Marketing System and the OriginationPro Mortgage School. He can be reached at dave@hershmangroup.com.

If you hire the wrong people and keep them, you will never, never, never be a good manager.

Making Algorithms Work For You

How social media content performance varies across platforms

ocial media continues to be a powerful marketing tool for companies in the mortgage industry. Whether you are large or small, it’s incredibly important to have an established presence across all social media platforms. However, one of the biggest challenges that marketers deal with when planning their social media strategy is figuring out how they can gain the greatest visibility.

While developing great content is important when it comes to getting more views, marketers should keep social media algorithms in mind as they develop their strategy.

Each social media platform operates based on its own algorithm, which essentially determines what content is most relevant to certain users and why one piece of content is displayed over another. So, if social media algorithms are such an essential factor in determining if your content strategy will be successful, what can marketers do not only to understand each social media platform’s algorithm, but also use them to their advantage?

ERICA LACENTRA, CONTRIBUTOR, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

ALGORITHMS EXPLAINED

At the most basic level, algorithms are a set of rules that automatically rank content on a social media platform. These rules are often based on a user’s demographic, their likes, other accounts they currently follow or engage with, and how likely they are to watch or interact with a piece of content. Social media algorithms are why each user’s feed across any platform will be unique even if users are following the same accounts or have similar interests.

Each social media platform uses a different algorithm, so this is where it can get tricky for marketers. What works on one platform might not work as well on another. However, since each social media platform algorithm is based on machine learning, it all comes down to understanding what the ranking signals or rules are on each platform. This will allow you to be strategic in your postings and ultimately rank higher on each platform. So, let’s talk about what the specific ranking signals are for each platform.

LINKEDIN

LinkedIn continues to be a great resource in the professional world and an excellent means of reaching your clients on a platform where they expect more business-focused content. At the core of LinkedIn’s algorithm is the level at which users are connected to other users. For example, you may have noticed that you have your first connections, those you have directly added to your network; your second connections, those connected to someone in your network but not to you directly; and your third connections, essentially the LinkedIn version of a friend of a friend.

LinkedIn will always prioritize content from your closest connections first, and then topic priority is usually determined by the types of groups, companies, or pages you follow.

From there, LinkedIn looks for what it deems to be high-quality content: think video, links, your insights, or anything that it thinks will appeal to your connections. Finally, it’s all about engagement, especially early engagement. If your first connections are engaging with your content off the bat, LinkedIn ranks this higher, and there will be a greater likelihood of your content being shown to second and third connections. By the same token, if you are posting frequently without engagement from your connections, you are going to have a harder time getting your content to show within your first connections, let alone get content pushed out further.

FACEBOOK

Facebook and its groups continue to be a great resource for mortgage industry professionals. Much like LinkedIn’s algorithm, one of the primary drivers of what content shows up on your feed is who you are connected with. Whether it be people or pages, what and who you follow and interact with will be displayed first.

However, Facebook’s algorithm relies heavily on looking at the type of content you interact with to determine what you are seeing. If you typically watch a lot of video content

on Facebook, more video content will appear on your feed. If you engage with text posts, you’ll see more text posts. Finally, Facebook looks at engagement. Much like LinkedIn, Facebook prioritizes popular posts that have significant initial engagement, especially if they are also receiving engagement from people you are connected with. These are highly likely to be boosted by the algorithm and appear on your feed.

INSTAGRAM

Instagram is a great tool for marketers to increase and reinforce brand awareness with its potential client base. Much like the previous two platforms, Instagram also prioritizes the content of the people you follow and engage with. So, for companies using Instagram, it is critical to encourage engagement from your followers and respond to that engagement. Instagram also gauges your interests based on engagement and the content you look at already, suggesting similar content. Finally, unlike LinkedIn and Facebook, Instagram places a heavy emphasis on the popularity of content and how it fits in with current social media trends.

However, Instagram is known for having frequent changes to its algorithm. For this platform, you will

likely have to pivot and adjust your strategy regularly. For instance, about six months ago, Instagram pushed to prioritize video content. If you posted reels and video, you likely have seen greater engagement than if you were posting a photo or carousel of photos. But due to user feedback and complaints about Instagram becoming too similar to TikTok, Instagram is once again shifting to prioritize photos. This is one social media platform that you’ll need to stay on your toes to keep up with for the greatest success.

MAKE THE ALGORITHMS WORK FOR YOU

With all of this information about what social media algorithms prioritize, where are some of the common threads and how do you use them to your advantage? First and foremost, it’s imperative that you focus on creating relevant, quality content that essentially matches what the social media platform and the users of the platform expect. This means that what you create for LinkedIn won’t work on Instagram as is. Gain an understanding of the formats and content types that do the best on each platform and formulate your social strategy accordingly. Also, make sure the content you are creating appeals specifically to your target

audience on each platform.

From there, clear engagement and connecting with your audience are key. Encourage engagement, follows, shares, and likes, and respond back to that engagement. That will ultimately get your content in front of more users. You can often accomplish this by running contests, asking questions, starting a conversation with a post, or posting content that naturally encourages engagement such as a new bit of insight or something on trend.

Finally, while it’s important to stay on top of trends so your content is relevant, it will come down to a lot of trial and error and experimenting with the posts. There is no magic formula to beating the algorithm; you will likely have to try and try again to achieve success. Keep track of what is working and what isn’t. See what your top-performing content is on each platform and build off that.

Once you figure out what works, you can be more consistent with what you are posting because you know that is what your audience wants. Social media algorithms aren’t an exact science, but if you stay informed, and keep up with trends, you ultimately can use each platform’s algorithm in your favor. n

Erica LaCentra is chief marketing officer for RCN Capital.

Clear engagement and connecting with your audience are key.

Uncle Sam Trashes GARBAGE FEES

A mind-boggling array of deceptive fees punishing homeowners

BY LEW SICHELMAN, CONTRIBUTOR, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Uncle Sam is going hard after what it deems to be unconscionable, if not illegal, junk fees, particularly in the servicing and rental sectors.

Most recently, U.S. Housing and Urban Development Secretary Marcia Fudge called out property managers and apartment owners for nailing their tenants with such suspect charges as move-in fees and convenience fees. But before her, Rohit Chopra, head of the Consumer Finance Protection Bureau, chastised servicers

for charging excessive late fees and fake mortgage insurance premiums, among other fishy tariffs.

It appears as if one federal agency is trying to outdo the other, except they’re not. Rather, it’s all part of a concerted effort by the Biden Administration to rid the real estate sector, among others, of excessive and often unwarranted charges. Fees, said Fudge, should reflect “the actual and legitimate costs to housing providers.”

CORRODING FINANCES

In a special edition of its supervisory highlights, the CFPB

reported finding “old and new ways that mortgage servicers attempt to run up unlawful fees that are charged to homeowners.” The consumer watchdog agency said such charges corrode family finances, drive up families’ banking and borrowing costs, and are not easily avoided, even by financially savvy consumers.

I mentioned these charges last month, but they are so onerous they deserve repeating:

• Charging the maximum late fee allowed by state law, even though the borrower’s mortgage contract capped the charges below the state limits.

• Sending inspectors to addresses

known to be incorrect and charging consumers for each visit.

• Including monthly private mortgage insurance premiums that borrowers did not owe.

• Failing to waive fees that were forbidden by law for borrowers entering some loss mitigation were nailing

The bureau addressed improper fees in its previous supervisory highlights, noting that some servicers hammered consumers with late fees and other “default-related” charges while they were in forbearance. And it raked several unnamed mortgage companies for violating the Equal Credit Opportunity Act by discriminating against African Americans and women — but not Hispanics.

Nasty stuff, for sure. No wonder the CFPB received some 29,000 mortgage complaints last year. In 95% of these gripes, moreover, consumers reported they attempted to resolve their issues before resorting to seeking help from the government. That, alone, is very telling.

But when it comes to junk fees, mortgage servicers don’t hold a candle to landlords. A recent report from the National Consumer Law Center (NCLC) lists 16 “gotcha” charges renters face when they try to find and keep apartments.

Some of the 16 are not trash, at least in my mind. For example, nearly all property managers charge application fees, which they use to pay for credit reports and criminal background checks. But the charges slide into garbage territory when they are nonrefundable and are completely over the line when the reports can’t be used to apply at other properties.

MIND-BOGGLING FEES

The NCLC also found some add-ons that boggle the mind, including convenience fees, roommate fees and processing fees. In one instance, landlords charged a “January” fee for no other apparent reason than it was the first month of the new year.

It’s all about finding ways to monetize whatever landlords can get away with. For instance, one Tampa firm sends invoices for sub-metered water and sewer service. Nothing underhanded there. Most places charge for utilities. But it also charged a billing fee and a meter reading fee.

Tenants were dunned electronically, not with a more expensive snail-mail process. So, landlords can’t gripe about the extra cost of paper and postage. But no matter how the invoice was delivered, why should anyone have to pay to be billed? How can you pay without a bill?

The extra charges amounted to only a few bucks. But multiply that by each tenant annually, and you end up with a nice little profit center. But pure and simple, these are costs of doing business that should be borne by the property owner, not his tenants.

Speaking of utilities, one major landlord came under fire last month for

In one instance, landlords charged a “January” fee for no other apparent reason than it was the first month of the new year.

stripping utilities out of its rental rates and charging by occupancy rather than usage. Under that system, why should tenants care about saving energy?

Elsewhere, a Kansas City property demands a $200 one-time fee for pets — plus $15 a month. Nothing unusual there; most places charge for cats and dogs. But this place also charges for fish. Not only that, but it also lists them as “aggressive” breeds. Even goldfish!

I am informed that the real worry isn’t the fish but water damage from the tank, so maybe the fee isn’t all that outlandish. But other owners are looking to save money by operating their properties without any on-site personnel. No resident manager, no maintenance people, no security staffers. One outfit reportedly already operates unstaffed properties and plans to push that number to 35-40 by year’s end.

UNNECESSARY FEES

The Law Center report comes in the wake of an “open letter” from HUD Secretary Fudge, who called on the housing industry to address such fees, charges she said raise costs and hit vulnerable people the hardest.

“Many renters today face fees that are hidden, duplicative and unnecessary,” Fudge wrote. “These fees limit options for renters and strain household budgets, particularly for renters with low and moderate incomes who already face high rental cost burdens.”

In particular, the HUD secretary cited non-refundable application fees, which she said can run into hundreds or even thousands of dollars for tenants applying to multiple places. She also noted that the credit reports for which applicants pay often have inaccurate information and are of questionable validity in predicting renter behavior.

Fudge also mentioned such “hidden fees” as move-in charges, late charges, high-risk fees, security bonds and convenience fees for tenants who pay their rent online. But the Law Center went further, noting that the vast majority of landlords impose excessive late fees, and more than half charge other bogus fees.

To compile its list, the Washington, D.C.-based nonprofit surveyed legal services and non-profit attorneys

about the types of fees they have seen. The survey period was in November and December last year.

Of the 95 responses from 26 states and the District, nearly nine out of 10 said landlords collect application fees. And almost three out of four said they had seen utility-related charges.

So far, not totally dubious. But 87% said landlords also impose excessive late charges. Moreover, 68% have seen processing or administrative fees, 60% noticed convenience fees, 59% reported seeing insurance fees, and 56% saw notice fees.

Seven percent reported seeing fees to report on-time rent payments to credit bureaus. And the aforementioned January fee was reported by two Minnesota advocates, “seemingly for no reason,” the survey said.

PREVENTING DECEPTIVE PRACTICES

Noting that nearly half of all renters — some 19 million households — spend more than a third of their incomes on housing, April Kuehnhoff, a senior attorney at the law center and a co-author of the report, said: “There simply isn’t room in their budgets for junk fees.”

The report calls on the Federal Trade Commission and state legislatures to investigate landlords who impose against the burdensome fees, calling

them “unavoidable and exploitive.” The FTC should develop guidance to prevent “this potentially deceptive practice,” it said, and states must limit or ban fees that exceed landlords’ costs.

HUD’s Fudge had essentially the same message in her open letter, urging all housing providers and state and local governments to “take action to limit and better disclose fees charged to renters in advance of and during tenancy.” Fees, she said, should reflect “the actual and legitimate costs to housing providers.”

The secretary’s message amplifies the Biden Administration’s “Blueprint for a Renter Bill of Rights,” which challenges stakeholders to commit to clear and fair leases without hidden or illegal fees. Since the White House launched the challenge, Fudge wrote, “many” state and local governments and housing providers, as well as several rental platforms and small property owners, have announced policies aligned with the program. Among other things, they have agreed to limit application fees and allow applicants to reuse their applications multiple times at no extra cost. n

Lew Sichelman is a contributing writer to National Mortgage Professional magazine. He has been covering the housing and mortgage sectors for 52 years. His syndicated column appears in major newspapers throughout the country.

AMC RESOURCE GUIDE

Home Base Appraisal Management

Sandy, Utah

HomeBaseAMC.net

Michael@homebaseamc.net

(801) 449-9200

AREA OF FOCUS: Apprasial Management Company — We Care — INC 5000 Fastest Growing 5X

DESCRIPTION OF PRODUCTS OR SERVICES: From a Regional powerhouse to a national INC 5000 fastest growing company five years running. Home Base Appraisal Management has put their stamp on the Apprasial industry and brought service levels to all new heights. All of this without a marketing team!? This company truly breaks the mold with their different approach to the industry of real estate appraising.

WHOLESALE LENDER RESOURCE GUIDE

PRIVATE LENDER RESOURCE GUIDE

ACC Mortgage Rockville, MD

ACC Mortgage is the oldest NonQM lender that has never stopped lending in 22 years. We specialize in Bank Statement, ITIN, P&L, Foreign National and DSCR lending. Price, Product and Process are what make for Non-QM success.

ACCMortgage.com

LICENSED IN: AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, KS, MD, MI, NV, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, WA

Stratton Equities

Pine Brook, NJ

Stratton Equities is the leading Nationwide Direct Hard Money & NON-QM Lender that specializes in fast and flexible lending processes. Our Hard Money and Direct Private Money loan programs support the following investment projects:

• Fix and Flip

• Soft Money Loans

• Cash Out — Refinance

• Fixed Commercial Loans

• Commercial Bridge Loans

• Bridge Loans

• Stated Income/No-Income Verification Loans

• Rental Loans

• Foreclosure Bailout Loan

• NO-DOC

• Blanket Loans

PCV Murcor Pomona, CA

pcvmurcor.com

sales@pcvmurcor.com

(855) 819-2828

AREA OF FOCUS: Nationwide Real Estate Valuations Management — Appraisal Management Company

DESCRIPTION OF PRODUCTS OR SERVICES: Licensed in all 50 states, plus D.C., PCV Murcor provides nationwide appraisal management and valuation advisory for residential and commercial real estate. An industry leader with over 40 years of experience managing valuation needs for mortgage lending, financial institutions, estate and litigation, real estate investors, and mortgage servicers.

Change Wholesale Irvine CA

Change Wholesale gives mortgage brokers an unfair advantage to close more loans, faster. Our CDFI certification from the U.S. Department of the Treasury allows us to offer proprietary programs that are tailored to meet the needs of commonly overlooked prime borrowers. Our flagship Community Mortgage requires no income, employment, or DTI documentation. Prime borrowers looking for their dream home or vacation getaway can get approved with just the first page of the bank statement.

ChangeWholesale.com (949) 255-6085 info@changewholesale.com

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

• Fixed Rental Programs

• Multi-Family Loan

No Upfront fees! No Junk Fees! No Tax Returns!

strattonequities.com

(800) 962-6613

info@strattonequities.com

LICENSED IN: All States except for: AK, ND, NV, SD, UT

Tear the paper ceiling that is keeping you from discovering over 70 million STARs: workers Skilled Through Alternative Routes that are being held back by degree screens, stereotypes and more. Find out how STARs can meet your talent needs.

#HireSTARs

Keith, Data Analyst, Google Career Certificate Graduate, STAR

It’s time for “qualified” to mean qualities, not just a bachelor’s degree.

HOW

BUILD A BROKER Making Money Off Bankruptcy

YOUR FIRST MILLION DOLLARS Better Life Means Better Business

BENCHMARKS & BEST PRACTICES

Your First May Be Your Second Or Third

MY BEST DEAL

Helping Fido Find Shelter

CAREER TICKER

People On The Move

> Cenlar FSB, a mortgage loan subservicer, announced that Brad Cargile has been appointed Vice President of IT Infrastructure.

> Lance Miller, president of Momentum Loans, announced the appointment of Rob Allphin as executive vice president. He has over three decades experience in the mortgage business.

> Birchwood Credit Services has appointed Sam Markwood as chief operating officer.

> Mortgage Cadence, a subsidiary of Accenture, has announced George Morales has joined the company as its new reverse mortgage product manager.

PEOPLE ON THE MOVE //

NMP’S MONTHLY SECTION OF HANDS-ON PRACTICAL ADVICE

Make Bank Off Bankruptcies

BY KATIE JENSEN, WRITER, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

The powerful rush of refinances and conventional purchases has been reduced to a trickle, and loan officers across the country are running out of options. Typically, lenders and brokers expand their product offerings to capture as many buyers as possible. That’s a smart move, but not as clever as expanding the pool of potential borrowers. In order to do that, experts say venture where most loan officers don’t care to go — bankruptcy court.

The word bankruptcy might set off a red flag. There’s a perception that these people are unreliable and untrustworthy, or just lazy and don’t know how to manage their finances. But hard times fall on everyone and just one unfortunate event — falling seriously ill, suffering a work accident, or having to take care of a family member — can leave a person financially destitute.

Brian Sacks, branch manager and national mortgage expert at Homebridge Financial Services, sees their potential.

“I view these as what we lend on are

accidents waiting to happen,” Sacks said. “It’s far better to deal with someone whose accident has already happened because they can’t file bankruptcy again for another seven years.”

FHA REFINANCES

David Luna isn’t just a charismatic NMLS instructor; he’s also a veteran of the mortgage industry and knows how hard it can be in a down market. Back when he was a loan officer and business was slow, Luna said he would

> BSI Financial Services, an Irving, Texas-based mortgage operating platform, has named Harold Lewis as its president and chief operating officer.

> Jake Fehling, Movement Mortgage’s vice president of marketing, has been promoted to the company’s first-ever chief marketing officer.

> Polly, a provider of mortgage capital markets technology, announced that Parvesh Sahi has joined the company as chief revenue officer.

> CBC Mortgage Agency has hired seasoned servicing executive Alicia Wood for the newly created director of servicing and asset management position.

PEOPLE ON THE MOVE

Loans can be a bit more complicated, but they add more loans to the pipeline

This list (which is public information) would include all state residents who have filed bankruptcy. Specifically, he would look for debtors who:

1. Are homeowners

2. Have been in their home for at least five years

3. Have equity in their homes

4. Have been in Chapter 13 bankruptcy for at least two years

5. Have been current on payments for the last 12 months

After finding these borrowers on PACER or by going to the bankruptcy court for a list, Luna would write a letter to the bankruptcy attorney and trustee of the court that is essentially a sales pitch. He would explain that he was a certified mortgage loan originator, state how many years he has worked in the industry, and how he would like to help their clients. It is necessary to get the trustee’s and sometimes the attorney’s permission before working with the client.

After receiving this letter, the trustee of the court and attorney may want to set up a meeting with the inquiring loan officer. But Luna assures that this will only happen once or twice before they begin to automatically approve the letters. Once the trustee of the court gives the loan officer permission to pursue the client, the loan officer is set to proceed.

Now, let’s look at why Luna has these five qualification rules previously mentioned. First, finding a homeowner takes care of the inventory problem. They don’t have to go house hunting for an affordable property in a highly

competitive market.

Why should someone be in their home for at least five years? Because today’s interest rate — that newer homebuyers complain is too high — is the same level interest rate homeowners were paying five years ago. Just make sure the income they’re making is comparable as well.

Why should someone be in Chapter 13 bankruptcy for at least two years? Luna said, “If they’ve been in Chapter 13 for at least two years, I know I can go backwards and possibly find 12 months of fulfilled payments.”

Of course, loan officers can also consider contacting people who have only eight months of good payments.They can give them a call and say “Let me know when you make that 12th payment to the court and we can get you set up for a refinance,” so the borrower and LO can prepare in advance.

Why does the debtor need to have equity in their home? To help pay off their debt.

“I think we can all agree that over the last few years, appreciation has really risen and now they have equity,” Luna said. “So we just pay off the bankruptcy court, which gets another file off of that trustee’s desk. And trustees are really happy about doing that.”

Matthew Zimmelman, NYC principal law attorney and licensed real estate broker, said he has seen this work for a number of his clients. Zimmelman has helped thousands by way of bankruptcy filings or developing strategies and careful planning to help

others avoid bankruptcy. Recently, one of his clients was able to exit bankruptcy with a cash-out refinance after only two and a half years.

“Refinances

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE | JUNE 2023 | 19

> Farmers National Bank expanded its mortgage lending team with the recent hire of Karen Jindra as mortgage sales manager out of Fairlawn, Ohio.

> Fort Wayne, Ind.-based residential mortgage lender Ruoff Mortgage named Blake Music as its new president.

> CBC Mortgage Agency, a nationally chartered housing finance agency based in Cedar City, Utah, has hired Mark Leslie as director of capital markets.

go down to the bankruptcy court and ask the clerks for a list. Nowadays, you can find this list online at PACER.

remainder of the other debt within the bankruptcy. So now they’ve exited bankruptcy early and they’re essentially debt free, with the exception of just this new mortgage.”

Using this

potentially close an extra five, 10, 20 loans per month.

FHA PURCHASES

One of Sacks’s most memorable clients was a female NICU nurse who went through bankruptcy and foreclosure. She had been working in the NICU for 30-plus years, and her husband was “a piece of work,” Sacks said. He became physically and verbally abusive, and a drug addict. With very little money, the woman fled from her husband with her daughters and her daughters’ kids.

“I said to her, ‘But you’re a NICU nurse. You’ve been a NICU nurse at University of Maryland for 35 years. I’m sure you have some sort of retirement account, right?’ She said, ‘Yes.’ Well, we used some of her retirement funds to get her into a home very shortly after the bankruptcy. It was a high rate, to be fair. But a year later we refinanced her and her payment was significantly lower than it would’ve been had she rented,” Sacks said.

Many folks in bankruptcy don’t think they’re eligible for a home purchase until after seven to 10 years, but this woman Sacks helped only one year after being discharged from Chapter 13 bankruptcy. But in many circumstances, even for purchases, debtors don’t have to be discharged to get an FHA loan.

“You have to be paying for one year and get the approval of the court from the trustee

so that it won’t interfere with your bankruptcy plan,” Sacks said.

Doing purchase loans for folks in bankruptcy can be a bit more complicated, but it’s absolutely worth adding more loans to the pipeline and the joy of helping those going through hard times. That being said, there are some additional criteria Sacks recommends for those wanting to do purchase loans for Chapter 13 bankruptcies.

He typically looks for Chapter 13 bankruptcy folks making at least $75,000 a year in income, are currently renting, and have filed bankruptcy more than one year ago or as far back as five years ago. These borrowers are also expected to have poor credit, which is why FHA with a 580 FICO score qualification is recommended.

Sacks has also taken on clients with a 500 FICO score. In these cases it is necessary for the loan officer to inquire why the credit is so low, and determine whether this client should attempt to repair it by using a credit card.

“When you have folks who’ve had a bankruptcy, it could be due to errors in their report,” Sacks said. “So sometimes it’s simple. You can fix the credit report just by sending it back and having it reported accurately.”

Sacks also suggests advising the client to take out a few credit cards. It’s okay if it’s a secured one where the consumer pays a cash deposit upfront to guarantee their credit line.

“Buy gas for 50 bucks, pay it off; buy groceries for 50 bucks, pay it off. And then, I might follow up with them

CONTINUED ON NEXT PAGE

> Ewing, N.J.-based Cenlar FSB, a national mortgage loan subservicer, announced Marlon Groen has joined as chief compliance officer and Jennifer Rowen was named senior vice president, core operations.

Ratiu its chief economist.

PEOPLE ON THE MOVE //

Brian Sacks, branch manager and national mortgage expert, Homebridge Financial Services

Veterans, when you’re struggling, soon becomes later becomes someday becomes ...when?

Don’t wait. Reach out .

Whatever you’re going through, you don’t have to do it alone. Find resources at VA.GOV / REACH

BUILD-A-BROKER

again in six months. See how they’re doing, see if they’re ready,” Sacks said.

Sacks was recently able to close a deal with a client that took three and a half years to improve his credit.

“He couldn’t get out of his own way,” Sacks said. “He was a single dad with three little boys. But you know, he sat at the settlement table and cried. He said no one else would’ve taken the time. But, what time is a three-minute phone call? How are you doing? How are you doing with what we talked about? Not good. Okay. We’ll call you again.”

REFERRAL SOURCES

Consider this opening: Hi, I’m Katie Jensen. I’m a mortgage loan officer who offers great rates. I have excellent service, and offer a great product mix. I’d love to be able to meet your agents.

That pitch is not likely to go anywhere. Plenty of realtor offices have their own in-house loan officer who can handle a variety of products. Instead, look at Sacks’s pitch:

“Hey, I know that you have your own in-house loan officer, and I know they do a tremendous job, and I know your agents have great relationships with other loan officers as well. But I’m able to help you and fill in a crack that your loan officers may not be able to handle. I’m able to work with some of the buyers you’re turning away.

Maybe because they had a bankruptcy, maybe because they have a credit challenge. Would your agents be interested in discussing this further?”

Realtors will be much more receptive to a pitch like that, because Sacks is offering a unique service — not many loan officers willingly and purposefully seek out folks in bankruptcy.

Teaching classes about this to realtors is also another way to build referral sources. Teach them how people in bankruptcy can get a mortgage before they’re discharged, and what qualifications are expected. That is an efficient way to gain referrals because then the loan officers come across as experts and they’re speaking to 10 or 20 realtors at once.

It’s also important to develop a partner relationship with one or a few bankruptcy attorneys. Zimmelman has a few tips and warnings for loan officers who are attempting to build a relationship with a bankruptcy attorney.

He advises that a loan officer knows what the process is like and not come off too eager to get the loan closed quickly.

“It’s rare that I can rush and get an approval for a loan if you tell me, ‘Hey, we need to close in three days,’” Zimmelman said. “I need the terms and I need the time. You must have that understanding and not just act like the stereotypical, aggressive mortgage broker or mortgage lender who just wants to plow through 17 deals, like let’s make all this happen immediately. It just doesn’t work that way.”

Zimmelman usually tells his clients it’ll take one to two months to get the approval of the court. An application can’t be filed without the terms of the loan being approved by the trustee of the court and a judge. It can take weeks or months before a judge even sees it. The attorney must appear before the judge for the motion to be granted and signed. Many delays can hold up this process, but only after its completed can

“You’re seeing the economy become much more challenging and difficult, and that’s when bankruptcies spike.”

> Brian Sacks, branch manager and national mortgage expert, Homebridge Financial Services

the client proceed with the loan.

Coming off too ambitious can leave a bad taste in some people’s mouths. It comes off as scam-like or greedy when a loan officer is acting too aggressively. For example, Zimmelman says he doesn’t like it when loan officers pull a list of all his bankruptcy filings and active cases, then show up at his office saying they can help x, y, and z clients get a mortgage.

“I look at it as almost stalker-like,” Zimmelman said. “If it’s someone I haven’t met yet or we just scheduled their first meeting, and now you’ve come to me saying, ‘Hey, I know you filed cases for … ’ and just run through a whole slew of names. Yes, it’s all

Borrowers don’t need Chapter 13 discharge

According to HUD guidelines on FHA loans mandated by HUD 4000.1 FHA handbook, borrowers can qualify for an FHA 203(b) loan in Chapter 13 bankruptcy during the repayment plan and do not need to wait until they’re discharged — as long as the borrowers have made their payments for at least 12 months.

“A lot of people believe that borrowers have to be discharged from a bankruptcy, which is not true,” David Luna said. “Borrowers can take out a loan while they are currently in a Chapter 13 bankruptcy. This does not work for Chapter 7 or Chapter 11, just Chapter 13.”

Please note that some states like Texas have Homestead Laws, preventing banks from seizing property, so this strategy might not apply to every state but it will apply to most. Luna suggests loan officers speak with their local account executive to see if they can get Chapter 13 debtors to apply for FHA.

public records, but slow down.”

In that first meeting, loan officers should focus on demonstrating their understanding of the bankruptcy process, then explain what they’re capable of doing to help the attorney’s clients. This will help establish trust. From there, the attorney will decide if this loan officer is useful or not. If they are, the attorney will follow up and say, “I think you can assist. Let me go back through my clients, see what I can find, and then we’ll have a follow up meeting.”

Zimmelman also doesn’t like it when loan officers go straight to his clients, telling them they can absolutely qualify for a mortgage. Oftentimes, his clients call him saying they’ve spoken to a loan officer who can get them a mortgage or a refinance. He said this leads the client to have unrealistic expectations based on the conversation they had with this loan officer, and that may not fall in line with the way things actually work. He would rather partner with a few loan officers that understand the process.

“Rather than approach the client, get them all excited, and now they think that we can just make this happen quickly. I could build that partnership with a professional or a handful of professionals, and potentially reach out to my clients and say, ‘This might be an option. Would you be interested in speaking to somebody?’ And if they’re interested,

then I could pass along a couple of phone numbers and everyone knows how this process works, and now we’re all working together rather than someone being sold an idea,” Zimmelman said.

THE WAVE IS COMING

Experts like Sacks and Zimmelman foresee a spike in bankruptcies later in the year as pandemic aid comes to an end and poor economic conditions — caused by rising interest rates and high inflation — putting more stress on household budgets.

“You’re seeing the economy become much more challenging and difficult, and that’s when bankruptcies spike,” Sacks said.

Bankruptcy filings spiked in January 2023, up 19% from the previous year, according to data from legal research firm Epiq. The number of people who filed bankruptcy across Chapter 7, 11, and 13 shot up 20% in January from last year.

As the year goes on it seems the bankruptcy filings are piling on. In March, total filings were 33% higher than in February. Individual chapter 13 filings during the first quarter 2023 were 42,364, a 28% increase over the same period last year.

“My goodness,” Luna said. “Having a solution for these people is really going to change many families and individuals’ lives.” n

Matthew Zimmelman, NYC principal law attorney and licensed real estate broker

Good, Better, Best. Never Let It Rest.

The keys to better business are also the keys to a better life

BY HARVEY MACKAY, CONTRIBUTOR, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

he truly great athletes often focus on an area where they can improve and work on it to get better in the off-season. But there is no off-season in business, so any time is a good time to examine how we can improve in our professional lives. These are some of the areas I

Get better organized. I am a habitual packrat. My filing system is piles … one pile for each project. And that’s a lot of piles. I like to joke that I never lose anything; I just misplace things. But I am vowing to do better. And if I can do it, anyone can do it. Eliminate or reduce

distractions. Productivity’s number one enemy is interruptions. Set aside a period of time each day — even if it’s only 10 minutes — when you are unavailable for anything less than a four-alarm fire. That goes for office visitors, telephone calls, emails, and carrier pigeons. There is also the option of coming to work early or staying late.

Read more and embrace learning. People’s lives change in two ways — the books they read and the people they meet, according to Charles “Tremendous” Jones, a fellow member of the National Speakers Association. I’ve always said that libraries are an untapped gold mine. Your computer, tablet, or phone offer unlimited reading options. Knowledge is power.

Build deeper relationships. You can take all my money! You can take all my factories! You can take all my land! But leave me my network

of relationships, and I’ll be back to where I was today in three to five short years. I’ve worked constantly to build relationships. It has served me every day of my life in ways I could never have imagined.

Volunteer. When you volunteer, you always get back more than you give. Volunteering has made my life so much better, and I suspect that anyone who has become passionate about a cause will tell you the same thing. People who do volunteer work are inclined to be go-getters and consistently report being happier and more contented.

It doesn’t matter whether you are young or old, student or professional, working your way up or at the top of your game. Needs abound wherever you are. Don’t just make a living, make a life worth living.

Practice humility. As American humorist Will Rogers used to say, get someone else to blow your horn and the sound will carry twice as far. Humility is not difficult to practice. It doesn’t involve downplaying your achievements. It doesn’t mean that

you won’t be recognized for your contributions. It does mean that you realize that others have been involved in your success, and you are prepared to be involved in theirs. You start by giving credit where it is due. The co-workers who participated in the early stages of a project surely deserve some recognition, and the folks who mopped the floors and kept the lights on so you could work late are team players too.

Find role models or teachers you can learn from. Mentoring can change your life — and theirs. Mentoring means helping less experienced people observe, experiment and evaluate different ways of doing work to find out which strategies work best. And the benefits are not limited to young people. People of all ages can gain from the guidance of a more experienced person, even someone younger than you. A mentor can help even experienced managers boost their job performance and advance their careers. And remember, mentors change over a lifetime. Set a goal and work toward it. Ask any successful CEO, superstar athlete, or winning person what their keys to success are, and you will hear four consistent messages: vision, determination, persistence, and setting goals. Set your goals for the year, for the decade, or for the rest of your life. After all, if you don’t set goals to determine where you’re going, how will you know when you get there?

Follow your passion. Passion is at the top of the list of the skills you need to excel at whether you’re in sports, sales, or any other occupation. When you have passion, you speak with conviction, act with authority, and present with zeal. If you don’t have a deep-down, intense, burning desire for what you are doing, there’s no way you’ll be able to work the long, hard hours it takes to become successful.

Mackay’s Moral: Even the best work hard to get better. n

Harvey Mackay is a seven-time New York Times best-selling author with 15 books.

Don’t just make a living, make a life worth living.

What Makes a First-Time Homebuyer?

BY MARY KAY SCULLY, COLUMNIST, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Can someone who has owned a home before be considered a first-time homebuyer again? The answer is yes. If this surprises you, it’s time for a refresher.

It’s National Homeownership Month, which makes it a great time to brush up

who they are not, and how to help them on their journey to homeownership.

WHO THEY ARE

Buyer demographics are changing. The stereotypical 20-something, newlymarried couple is not always going to be your first-time homebuyer. According to the National Association of Realtors (NAR), in 2022 the average age of the first-time homebuyer was 36. Also in 2022, first-time buyers made up 26% of the market. Additionally, NAR reported that 29% of these buyers cited saving for a down payment as the hardest part of buying a home, and 28% used a gift from family or friends to help make it happen.

So, do you really know who your first-time buyers are? Fannie and Freddie say anyone who hasn’t owned in the last three years is considered a firsttime homebuyer. Your “first-time” buyer could be someone who has previously owned a home but moved around often for work, recently had a divorce, or has been living with a family member as a caregiver.

Many circumstances could make someone who has owned a home before revert to first-time homebuyer status. How does this definition change the way you work with them? There are a plethora of programs in place to help first-time homebuyers. It is your job as the loan officer (LO) to connect them with the right resources and make sure they are set up for success. You can only do this when you are tuned in to who your first-time homebuyers actually are.

HOW TO HELP

Let’s talk about those resources. There is a lot of material out there to help educate first-time homebuyers — be sure you are sharing it with them. The Consumer Financial Protection Bureau (CFPB) has great resources available to help first-time buyers prepare themselves for this huge financial commitment. Even if your buyer has previously owned a home, it is likely that the market, regulations, and technology have changed enough to where the process may feel very different for them

People who have owned homes previously might qualify

this time than it did when they last purchased a home. Education remains important regardless of experience.

There also are programs in place to help first-time buyers with costs. For example, the agencies offer lower loan-level pricing adjustments (LLPAs) on certain program types and for borrowers at/or within area median income limits. Additionally, local housing finance agencies (HFAs) and nonprofits may have a first-time homebuyer program to help with down payments.

It’s important for you, the LO, to know what is available to certain types of buyers so that you are able to connect them with the right resources early on.

WHO THEY AREN’T

Knowing who your first-time

homebuyers are not is just as important as knowing who they are. When working with first-time prospective buyers, you may notice that some just are not ready to buy yet — and that’s OK. Don’t write them off right away. Remember that a conversation may be deemed an application for some disclosure purposes, so stay vigilant in compliance efforts.

These buyers are still an opportunity. You can and should take the initiative to help them become ready to buy. First-time homebuyer resources can help them learn how to budget, build credit, and do whatever else is needed to get in a secure financial position to buy a home. Not every buyer will know where to start, but you can help them figure it out. They will remember how

you took the time to help them and more than likely come back to you once they are ready to buy.

These buyers who are not yet ready also could be long-term referrals. Just because they cannot buy right now does not mean they don’t have friends or family that they can send your way. Especially if you are taking the time to work with them and prepare them for homeownership, this can build loyalty that ends in referrals for your business.

This National Homeownership Month — and every month — keep up with how your buyers are changing. Know who can be considered a good first-time buyer and who cannot. Knowing the type of buyer you’re working with ultimately helps you know exactly what resources they need and creates a better experience for everyone. n

Mary Kay Scully is the Director of Customer Education at Enact, leading the development of the company’s customer education curriculum.

It is your job as the loan officer to connect them with the right resources.

Acra Lending

Lake Forest, CA

Acra Lending is the leader in NonQM Wholesale and Correspondent lending programs. Offering a range of programs and services geared toward helping mortgage professionals and borrowers achieve their purchase and investment goals. We are committed to providing simplicity, consistency and an optimal customer experience.

acralending.com

(888) 800-7661

sales@acralending.com

LICENSED IN: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MI, MN, MT, NE, NV, NH, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WY

Champions Funding

Gilbert, AZ

Mission Driven Non-QM + CDFI

Wholesale Lender

At Champions Funding, we Non-QM all day, every day! It’s our core business, and we live to serve underserved borrowers through our valued broker partners. We put diversity and inclusion into mortgage lending by empowering the mortgage broker community to provide solutions for non-traditional credit profiles and those who cannot get approved with standard financing. Through our highly coveted CDFI certification backed by the U.S. Department of the Treasury, we can offer our flagship neighborhood products and tap into a $1 Trillion market of historically underserved communities in the country.

Focused on speed to closing (in days, not weeks), smooth processes, and userfriendly access to our underwriting and support teams, we offer modern, flexible, and responsible non-traditional lending solutions.

champstpo.com

(949) 763-9494

Wholesale@ChampsTPO.com

LICENSED IN: AZ, CA, CO, CT, DC, FL, GA, HI, IL, IA, MD, MI, NJ, NC, OR, PA, SC, TN, TX, UT, VA, WA

FIND IT.

Civic Financial Services

Redondo Beach, CA

CIVIC delivers fast, honest, simple lending for real estate investors. Description of your products or services.

CIVIC Financial Services is a private money lender, specializing in the financing of non-owner occupied residential investment properties.

CIVIC provides Mortgage Brokers and Real Estate Investors with a fast and cost effective funding source for their real estate investment needs. civicfs.com

(877) 472-4842

info@civicfs.com

LICENSED IN: AZ, CA, CO, FL, GA, HI, ID, IL, IN, LA, MD, MA, MI, MN, NV, NJ, NC, OH, OK, OR, PA, SC, TN, TX, UT, VA, WA, WI

THE COMPANIES AND TOOLS YOU NEED

When searching for products or services to help your business, browse through our Resource Guides, or find a specific provider through one of our Directories.

Originator Tech, Non-QM, Wholesale, AMC. These listings provide quick, easy access to the resources you need, all in one convenient location.

Find

Global Integrity Finance LLC McKinney, Texas

DSCR Rental NO DOC Loans

As a direct, private lender, Global Integrity Finance takes a commonsense approach to underwriting, with all approvals made in-house. We are dedicated to providing quick responses to time-sensitive loans, often times with the ability to close in as few as 3 business days. At Global Integrity Finance, we value referrals and our brokers are protected. We are committed to the highest level of customer service, because our success thrives in building relationships.

globalintegrityfinance.com

(214) 548-5190

toby@globalintegrityfinance.com

LICENSED IN: AL, AR, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VT, VA, WA, WV, WI

Luxury Mortgage Corp. Stamford, CT

Non-QM, Wholesale, Delegated Correspondent, Non Delegated Correspondent

The Simple Access® Non-QM suite of products was built around the idea that it doesn’t have to be complicated to finance a home. We have created a diverse selection of borrower friendly programs that are simple, innovative, and flexible. For more information on our Correspondent division, visit www. luxurymortgagecorrespondent.com

luxurymortgagewholesale.com (949) 516-9710

tpomarketing@luxurymortgage.com

LICENSED IN: AL, AK, CA, CO, CT, DC, DE, FL, GA, IL, LA, ME, MD, MA, MI, MN, NV, NH, NJ, NM, NY, NC, OH, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WY

Hands-On Advice

Industry

HELPING A FRIEND (& Dogs) Find A Home

elsewhere, and she was paying for them to be in a kennel. The fact that I was able to help her and advocate for her along the way made it the best deal. My friend and her dogs are well and loving their home.

How much was your best deal for?

It was for $620,000. God gave me the ability to complete a very difficult transaction and it was my first.

What made it your best deal? This transaction was last year July. I was able to assist my friend who needed a home in a time crunch. She was living in a storage facility basically and at a family member’s home. Her dogs were living

I had a horrible experience with a Realtor who was not willing to work for the client. We had many hiccups and change of circumstances that were definitely a main difficulty when we were first qualifying the borrowers for the home. This shaped my career by educating more clients so that they are fully engaged in the process. I also became a Realtor in addition afterwards to never repeat that homebuying experience from that which we all had to deal with from that former Realtor.

I recently did one for a single mom and that was such a rewarding experience. She is the first homeowner in her family and her three-year-old daughter was able to experience the joy of knowing that was her home.

What else was interesting about the deal?

What was interesting about the deal was this was the first deal I ever closed. n

CASH Doesn’t Have To Be KING

Cash buyers may swoop in with big bucks, but opportunities abound

BY SARAH WOLAK, STAFF WRITER, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Originators are tired. They’re being hit in all directions with roadblocks: rising mortgage rates and home prices. Especially frustrating? Buyers who have enough cash outright to buy a home are steadily claiming nearly a third of the purchases.

According to ATTOM, all-cash home buying increased from 22.7% of all sales in 2020 to 34.4% in 2021 and finally to 36.1% in 2022.

“The number of single-family houses and condos flipped shot up 64% from the first three quarters of 2020 to the first three quarters of 2022. About twothirds of those homes were purchased by investors with cash last year, with that figure remaining larger than in 2020,” ATTOM CEO Rob Barber said. “The result was that all-cash purchases by home flippers went up from about 117,000 in the first three months of 2020 to 208,000 during the same period last year.”

But hope isn’t all lost. All-cash buyers making up a sizable portion of the market means that mortgage professionals can approach them from another angle down the road: home equity lines of credit (HELOCs).

“Cash buyers, like any homeowner, can open home-equity credit lines as long as they are willing to pay the HELOC interest rate. They will, of course, have more equity in their properties than owners who have mortgages, so they can take out larger credit lines,” Barber explained. “But there would seem to be nothing preventing a cash buyer from using a HELOC if they want to finance improvements in a home or need money for some other major expense.”

ANOTHER ANGLE

Even though the common phrase is “cash is king,” some lenders are promoting programs to allow their customers to be on equal footing. Thrive Mortgage’s CEO Selene Kellam says that its Home 2 Home program offers an alternative to all-cash buying. “To qualify, we look at if you have a departing residence and how much equity a customer has and their credit qualifying aspects,” she explained. “So this way, a buyer can qualify for a new residence before the sale of their departing residence goes through.”

Kellam said that Thrive provides a “short-term, 100% purchase money loan” that is converted after the

departing residence is sold.

“We really saw a need for this back in 2019 with the rise of iBuyers,” Kellam said. “Now, LOs can present this as an option to their pre-approved buyers, especially in more competitive markets where they might need stronger offers. It allows [the buyer] to make an offer like it’s all cash.”

are open-ended by nature, which means that the borrower can really use them to pay off their debt by using their equity. Since cash buyers don’t have pre-existing mortgages, their HELOCs would fall under the first lien category.”

Rushing says that relationships come first when approaching cash buyers and advertising HELOCs. “You really need to understand their goals that come with homeownership and their financial status,” he said. “If you can align a product [like HELOCs] directly with a customer’s needs, it’s a natural transition for them.”

CASH COMPETITION

Like Thrive, other companies are purposely marketing their products to compete alongside all-cash buyers. Deephaven Mortgage, a Non-QM lender, offers delayed financing in order for their main customer base, investors, as a secure way to compete with cold hard cash.

Rob Barber, CEO, ATTOM Luke Turner, Vice President of Wholesale, Deephaven Mortgage

But ready buyers with stacks of cash may be the barrier to regular borrowers looking for loans.

“There probably is not much loan officers can do unless they are able somehow to offer much better terms to potential purchasers — usually investors — who already have enough cash to buy properties without loans,” Barber said. “Cash buyers would seem to be a different group altogether than traditional buyers and not interested in financing purchases because they already have a lot of ready cash.”

Anthony Rushing, a loan officer at Indiana-based First Savings Bank and first lien loan specialist, says that oftentimes, his customers are all-cash investors looking to use HELOCs to pay off debt. “From an investment perspective, it can serve as another source of capital,” he said. “HELOCs

“Delayed financing is essentially a cash-out refinance in all practical applications. It’s the same as if you owned a house for 10 years and there’s a certain amount of equity that you can withdraw from that using a cash-out refinance,” said Luke Turner, Deephaven’s regional sales vice president of wholesale. “Delayed financing means that I have purchased a home using all cash and within a sixmonth period after buying it, I can pull out a certain percentage of that equity to reinvest into my next project or apply it to home upgrades.”

Turner says that this product is especially helpful for investors looking to buy quick, lower-amount loan properties, such as in a fix-and-flip situation. “It’s giving people lending opportunities for fast transactions,” he explained. “Delayed financing also takes the risk out for buyers who bought with all cash and maybe bit off more than they can chew to reclaim some of their money.”

Turner also said that right now, it’s easier not to be a cash buyer since competition is down. “Homes are staying on the market longer than they were even last year, so not many people need the instant gratification of cash buying,” Turner said. “Delayed financing is almost a better alternative to mitigate risk so a homeowner’s cash isn’t all tied into one house.” n

“If you can align a product [like HELOCs] directly with a customer’s needs, it’s a natural transition for them.”

> Anthony Rushing, loan officer, First Savings Bank

OCN MODESTLY PRESENTS:

In 2022, we had a record turnout for our best event … yet. Let’s just say, you won’t want to miss this year’s Originator Connect and these exclusive programs:

Free NMLS Renewal * Build-A-Broker Non-QM Summit

Private Lender Forum & so much more!

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

LGBTQ+ Homebuyers Need Progressive Mortgage Lenders

Strides have been made but the community needs homebuying allies

BY SARAH WOLAK, STAFF WRITER, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

It’s been nearly 55 years since the Fair Housing Act was passed to protect people of all races, sexualities, religions, disabilities, and familial statuses from discrimination when engaging in other housingrelated activities. Fast-forward five decades, LGBTQ+ community homebuyers are expressing continued frustration with their homebuying journey.

“There’s a lot of disappointing propaganda out there that is impacting how people in the LGBTQ+ community approach their lifestyles,” said Jeff Berger, founder of the National Association of Gay & Lesbian Real Estate Professionals (NAGLREP). Berger founded the association in 2007 — well before gay marriage was made legal. While he’s seen a great enthusiasm in the community, especially around LGBTQ+ families looking to take advantage of homeownership, he says that other people are still experiencing a culture shock when they see an LGBTQ+ family moving into their neighborhoods.

While consumer confidence is high, homeownership rates continue to be lacking in the LGBTQ+ community. According to U.S Census data and Freddie Mac, the rate among those ages 22 to 72 who identify as LGBTQ+ is just 49%, compared to the overall U.S. general population rate of 65%. In 2021, 12% of homebuyers identified as LGBTQ+. According to the National Association of Realtors (NAR), those homebuyers are likely to be first-time buyers compared to the demographic of non-LGBTQ+ buyers.

More recent surveys, such as one done in October 2022 by Realtor.com in partnership with the LGBTQ+ Real Estate Alliance, suggest that LGBTQ+ buyers face affordability and safety issues while attempting to find their homes. The survey of 1,538 LGBTQ+ members in the U.S. found about 29% reported actual or suspected discrimination during the homebuying process.

Of that same survey pool, 44% of the transgender community said they had experienced or suspected bias. Over half also said that they hoped to buy houses in communities that made them feel safe and accepted. However, in many of these areas — which tend to be urban cities — the cost of living is often unaffordable.

FINDING A NICHE

For Andrew Dort, these statistics revealed a glaring issue in his industry. Dort is a broker and owner of Pride Lending, a Las Vegas-based lender that markets itself as LGBTQ+-friendly. Dort’s business from the surface level is enthusiastic about serving a community he is also a part of. Pride’s website boasts a rainbow-accented logo of a lion. A certification accompanies the site’s bright colors as

an LGBT-owned enterprise by the National LGBT Chamber of Commerce and customer testimonials.

But Dort didn’t wake up one day and decide to start a company based on the principles of pride and safe spaces. He started as a receptionist in his early 20s at All Western, a Denver-based mortgage company, and slowly worked his way into a processing role. He transferred to Colten Mortgage — also in Denver — as a loan processor, eventually becoming a loan officer.

Colten transferred Dort to Las Vegas as a branch manager and in 2020, he decided to start his own company. “I knew I wanted to do my own thing at some point,” Dort said. “I’m a part of the LGBTQ+ community and I know that there’s a shared life experience with others in the community. I figured that some [LGBTQ+] clients would feel comfier making the biggest purchase of their life with someone in their own community.”

Dort saw a need for a niche in the industry after he witnessed others in the community face difficulties working with lenders while trying to buy a home. “I’m luckier than most. I’m a white man and I often can pass for being straight, and for me, I personally had no issues buying a home,” he said. “But when we compare that to my husband, who is non-binary and gender fluid, he probably would have had a harder time buying a home and connecting with a lender if he bought alone.”

Even though Dort pointed out that as a country, there has been a progression in acceptance of sexualities, he still hears shocking stories from his customers about being misgendered or isolated in their homebuying processes.

“I had a call from one customer who had a great rapport going with a loan officer, but the second that the customer mentioned that he was married to a man, the officer’s entire demeanor changed,” Dort said. “It wasn’t the first time I heard a story like that, and it certainly won’t be the last.”

Dort’s also seen appraisal and other biases in LGBTQ+ couples’ homes. “Two men with the same last name

> Jeff Berger, founder, National Association of Gay & Lesbian Real Estate Professionals

The Struggles Of LBGTQ+ Borrowers

There are plenty of well-documented evidence and studies that look into lending discrimination against minorities, but researchers have only just begun investigating lending and housing discrimination against the LGBTQ+ community. Here are some highlights:

• There are currently 10.7 million American citizens who identify as LGBTQ+, all of whom are impacted by the homeownership gap, higher rates and fees on their loans, and an increased risk of homelessness.

• Evidence from a UCLA Williams Institute report indicates that LGBT adults are less likely to own homes and more likely to rent than non-LGBT adults.

• According to representative data from 35 states, nearly half (49.8%) of LGBT adults own their homes, compared to 70.1% of non-LGBT adults.

• Homeownership is particularly low among transgender people. In 2019, the first nationally representative sample of transgender adults found that only a quarter (25%) are homeowners, compared to 58% of cisgender adults.

• Additionally, in The American Community Survey (ACS) that took place between 2015 and 2017, among those who owned their homes, same-sex couples were more likely than different-sex couples to be carrying a mortgage (77% vs. 68.2%, respectively).

• According to 2019 HMDA data, same-sex borrowers experienced a 3% to 8% lower approval rate compared to different-sex borrowers of the same profile.

• Among the loans approved, same-sex borrowers were charged higher interest and/or fees, yet there is no evidence to suggest that same-sex borrowers are riskier borrowers than comparable different-sex borrowers. Both sets had similar risk of default and the same-sex borrowers had lower prepayment risk.

• In another study by HUD, researchers tested landlords’ response to gay couple or straight couple rental inquiries. Different-sex couples were favored over male same-sex couples in 15.9% of field tests and favored over female same-sex couples in 15.6% of tests.

> Compiled by Staff Writer Katie Jensen

presenting an offer on a home may be met with prejudice still,” he said. “I read a story about a couple in Oregon who refinanced their house and the appraiser verbalized during the visit that they didn’t believe in same-sex marriage. The next week they had the appraisal redone and it was $200,000 more than what had been appraised the week before.”

Denise Lanouette, a mortgage consultant at First World Mortgage, knows firsthand what that feels like.

She says that when she tried to buy her first home with her partner, the loan officer gave the couple two separate applications and didn’t even consider their partnership. “In that case, I chose to step away from working with that LO,” Lanouette explained.

She says that when she entered the industry, she made it a point to approach conversations using gender-neutral terminology, especially when discussing cosigners.

For a long time, Lanouette says that she kept her LGBTQ+ identity separate from her work and worried that it would have a negative effect on her business. But last year, Lanouette was challenged by her local Gay and Lesbian Chamber to allow her identity to spill into her work. “It’s allowed me to connect with LGBTQ+ realtors and combine our networks,” she said. “The chamber told me that being public with my identity may cause me to lose a percentage of people, but it could also help me gain. But since I started being more open, my business has grown twofold. It’s actually helped me to establish a greater rapport and trust with my customers. We sometimes forget that this is a relationship business and it’s important to be open especially when discussing difficult conversations like personal finance.”

Lanouette says that her company’s branch is in Enfield, Conn., and that every year, local businesses have the opportunity to put pride flags outside. This is Lanouette’s first year participating. “I truly believe in fair and equal housing, and that goes for everyone,” she said. “There’s still progress to make, but I am proud and ready to put that flag outside.”

DOING THINGS DIFFERENT

Dort says that as soon as a customer walks into Pride Lending, there’s a table full of nametags that ask the customer what their pronouns are. “It’s little details that mean a lot to my customers,” Dort said. “We’re also dealing with legal names here, and maybe for a person that’s transitioning, they may want to be called something different in person as opposed to what’s on a legal document.” However, Dort says that approaching customers in

> Denise Lanouette, a mortgage consultant at First World Mortgage

the LGBTQ+ community shouldn’t be that hard or different from any other customer. “The point is to make their homebuying experience as normal as possible without them having to worry about being judged,” he said. “You treat every customer equally. There aren’t many spaces outside of queer spaces that take into account that not every couple is straight or that someone’s legal name isn’t their preferred name.”

Of course, Pride Lending can’t offer any specialty services or programs for LGBTQ+ homebuyers. But, Dort says that they go the extra mile to create a space of inclusivity. “We’re more or less advertising a queer space,” he explained. “We also advertise and sponsor queer events and give back to the queer community. We have a presence at Pride Fest. We make it known that it’s not about any special products for the LGBTQ+ community, but educating them about products that they could take advantage of. We, of course, work with everyone.”

Dort says that there aren’t necessarily any products or programs that he doesn’t also offer to his heterosexual customers. “I really try to push down payment grant programs and even co-owning programs for younger customers to curb the affordability crisis,” he said. “I’ve pushed this for groups of queer people to buy with their

friends to get out of the rental market, and they can really share the advantages of homeownership together.”

Gary Boyer, who runs Mortgage Monkey — a DBA of Directors Mortgage — got his start serving the LGBTQ+ community in 1999. Previously, Boyer went to college thinking that he would pursue a job in human resources. Following graduation, he worked for a recruitment company for loan officers and realized how minimal the outreach was for LGBTQ+ buyers and borrowers. “I saw that a lot of people were overwhelmed by the homebuying process, and it became a passion of mine to incorporate some fun and inclusivity into the process,” he said. “There’s a quote on my website that says ‘Years ago I chose to specialize with the Gay, Lesbian, Bi, and Transgender Community.’ I’m extremely proud that many of my clients are Gay/Lesbian — but I don’t discriminate, I’m happy to work with straight clients too! One of my proudest accomplishments is having people from ALL walks of life come and see me because they know I don’t discriminate.”

Boyer says that as a lender specializing in marketing

“I don’t think it can be understated how much of an emotional process [buying a home] is, especially if the relationship isn’t recognized.”

> Gary Boyer, Certified Mortgage Planner, Mortgage Monkey — a DBA of Directors Mortgage

Realtor.com finds

LGBTQ+ Buyers Spend More Of Their Income To Own A Home

Data shows that LGBTQ+ buyers more likely to put smaller down payments on a home

BY STAFF REPORT, NATIONAL MORTGAGE PROFESSIONAL NEWS

According to new survey data from Realtor.com, recent LGBTQ+ and BIPOC (Black, Indigenous, and people of color) buyers are going into homeownership weighed down and more burdened by housing costs than white and non-LGBTQ+ individuals.

Lower down payment, higher sales price, and loan denials creates a cost crunch for communities challenged by lower incomes

Realtor.com’s data shows that LGBTQ+ and BIPOC buyers are more likely to put smaller down payments on a home, with nearly two-thirds (65%) putting down 20% or less of a home’s purchase price when buying compared to about half (53%) of white, non-LGBTQ+ buyers. LGBTQ+ and BIPOC buyers were also nearly 9% more likely to pay over a home’s asking price to get their offer accepted — 86% paid over asking compared to 79% of white and non-LGBTQ+ individuals.

A smaller down payment on top of an above-asking home price generally equates to a higher interest rate and monthly mortgage payment, and that means LGBTQ+ and BIPOC buyers are likely to pay a larger share of their income toward housing than other buyers. That’s especially challenging for budgets, as a higher percentage of LGBTQ+ and BIPOC homebuyers were also more likely to fall into lower income groups than white and non-LGBTQ+ buyers.

Realtor.com also found that LGBTQ+ and BIPOC buyers face challenges during the mortgage process, and are 1.7 times more likely to have been denied mortgages two or more times.

“More Americans than ever before are stretched thin because of the growing housing cost burden, but our data shows that LGBTQ+ and BIPOC buyers are potentially spending even more of their income to own a home of their own, which can make it difficult to afford other essentials like food and transportation and creates even greater inequalities,” said Laura Eddy, Realtor.com vice president, research and insights.

“With the rising costs of homeownership taking a greater toll on budgets, resources like down payment assistance can help reduce the overall financial burden of buying a home and make it more accessible to a wider range of individuals,” she added. n

to the LGBTQ+ community, he stresses the importance of recognizing that many programs are designed for nuclear families.

“I think that when working with an underserved community, it’s important to help them explore options that best fit their needs. But it also involves

approaching them with understanding,” he said. “It also involves helping them be educated about extra steps that they can take to protect themselves in their homebuying process.”

THE NEED FOR INCLUSIVITY

Dort also recognizes that the mortgage industry is “a white male, cis-gendered industry” that doesn’t represent the true diversity of a typical customer base. “The point of Pride Lending is that we look like and represent what our customers identify as,” Dort explained.

Even though Pride Lending is based in one of the most flamboyant cities in the United States, Dort describes Nevada as a “purple” state, meaning that while the state has some progressive laws to protect LGBTQ+ people, some of the state’s

> Andrew Dort, broker and owner, Pride Lending

politics lean right. “A plus is that Nevada has more protections for LGBTQ+ people than other states do,” he said. “While they’re not as progressive as California or Colorado, I have found in my personal experience that Vegas is relatively accepting.”

Dort himself is licensed in not just Nevada. He also services Colorado and Tennessee. He says that the goal is to expand Pride’s licensing into Florida, Oklahoma, Kansas, Utah, Alabama, California, and Georgia, among others. “These are states that we’re seeing a need in,” he explained. “While California is a pretty accepting state overall, there are still some areas where it’s not so accepting. The rest of the states have some regressive stances on laws that we [as a company] are concerned about.”

Dort knows this firsthand. He was born in Arkansas and went to middle and high school in Kansas. “There’s good and bad in every state. For me, at that time in my life when I wasn’t out yet, Kansas was incredibly Catholic. It wasn’t until I moved away that I was able to accept myself and come out and see other lifestyles,” he said.

BEYOND THE MORTGAGE

Not all is fun or straightforward when it comes to advocating for LGBTQ+ clients. Boyer says that oftentimes, loan officers aren’t taking into account

the complexities of the legal system when working with clients in the LGBTQ+ community. “One of the areas that I specialize in is title elements,” Boyer said. “If there was ever a judgment that overturned same-sex marriage, those who took titles subject to being married could have that title invalidated and their ties to a property invalidated.”

Boyer says that title is more than surface level. He explained that when couples aren’t legally married, each person is a separate, legal entity and if anything were to happen to one of the persons, the inheritance would go automatically to blood family members as legal “next of kin.” “That’s obviously not what a lot of people intend when they buy a house with a partner and loved one,” he said. “Oftentimes this happens to same-sex couples. I usually recommend clients take title as ‘Not as Tenants in Common, but with Rights of Survivorship’ since it is not something that can be challenged by other legal next of kin.”

Boyer says that death and money often bring out the worst in people, which is especially important to keep in mind when a same-sex couple is buying a home. “For a lot of people, I don’t think it can be understated how much of an emotional process [buying a home] is, especially if the relationship isn’t recognized,” Boyer said. “And that alone discourages many from becoming homeowners.” n

https://nationalmortgageprofessional.com/podcasts/gated-communities/lend-pride

The Gulf Coast’s ultimate gathering

for

mortgage pros.

The mortgage industry is going through a significant change. For mortgage origination professionals, it’s a struggle to keep on top of all the changes, and to keep your sales strategies and marketing initiatives at their peak. You need to keep your pipeline filled, and you need the tools and directions to stay profitable, efficient, and effective. We’ve brought together the best in the business to create a top tier event specifically designed for mortgage origination pros.

Mortgage Banker Magazine readers like you can attend for free by using the code NMPFREE.

www.ultimatemortgageexpo.com

Breaking Barriers

Andres Munar’s Journey as a LGBTQ+ Mortgage Broker and Entrepreneur

BY KATIE JENSEN, WRITER, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

The mortgage industry can be an unforgiving profession, especially when you’re a member of LGBTQ+ community. There’s a reason some people refer to it as “the old boys club.”

Women, ethnic minorities, and LGBTQ+ people often face discrimination, harassment, and bullying from colleagues or bosses. They may also face internalized pressure and insecurities, as Andres Munar did when starting his career.

> Andres Munar, co-founder of Co/Lab Lending, a co-host on The CoLab Podcast.

“I know people who still don’t understand it, who think ‘why is gay pride a big thing? Like, why is it so in my face?’ But they don’t understand what we go through,” Munar said.

Munar is both gay and Hispanic, so he faces the double threat of potential judgment. However, he has learned to climb the ladder and is known as a man with many titles and talents. He’s the co-founder of Co/Lab Lending, a co-host on The CoLab Podcast, and a nationally recognized mortgage broker, entrepreneur, and influencer.

“When you see me on the stage, you’re gonna be like, ‘Oh, I was just bashing that gay man who is now on stage and closing a ton more loans than I am,’” Munar said.

ESSENTIAL NETWORKING

Munar was flying high as a 25-yearold loan officer making good money and working alongside his big-shot boyfriend, a high-performing real estate agent. He joined the industry in 2006 after a career as a waiter. Even when the housing crash happened, his boyfriend was able to keep feeding loans into his pipeline and keep the checks coming. But all good things come to an end sooner or later

It was December of 2009, and Munar was on a family vacation in Florida when he suddenly got a call from his boss: “Hey, um, the company has just been raided by the FBI. We’re closing doors effective immediately. … You’ll wanna go ahead and file for unemployment.”

His employer, Priority Mortgage, was no more. The owner of the company was embezzling money and the FBI caught him. But Munar couldn’t quite comprehend what was happening and why — he was in complete shock. Everything was going great the past few years; how could everything fall apart so quickly?

“Just being so young and naive, you know, I didn’t understand that 2006 and 2007 were really great years,” Munar said. “I just thought that was normal because, you know, I came into the industry at that time.”

Not long after that, Munar was due for another surprise. He and his boyfriend ended their relationship. The breakup was amicable, but Munar did panic about his career and what would happen to him next.

Although Munar says the breakup was the right decision, he was nervous about how he’d be able to make it in this industry without the steady stream of referrals. Deep down he had an urge to be more independent, but that would also mean having to go out on his own and connect with people. Even though he was 25 years old and had been openly gay for years, he was afraid of how

people would perceive him — more so people in the industry rather than clients.

Any salesman or business owner will tell you networking is essential to success and to network successfully you must be likable, trustworthy, and authoritative. A lack of confidence won’t do you any favors, and Munar knew that.

DOUBLE THREAT

“Igrew up in a very traditional Hispanic family,” Munar said. “You don’t talk about your problems; you don’t talk about your sexuality. … You just don’t talk about those things.”

Munar and his family immigrated to America from Bogota, Colombia, when he was 4 years old. His father began his career as a horse jockey and became somewhat of a local celebrity.

“He ended up becoming the top jockey for like three or four years in a row,” Munar said. “So growing up I kind of lived the racetrack life.”

At his Pennsylvania high school, most of the adversity Munar faced was due to his ethnicity. Nearly 90% of the student population was white, and students would often call him anti-Hispanic slurs and tell him to go back to his home country. That was enough to dissuade him from bridging the topic of being gay — why make things more difficult by bringing it up, he thought to himself.

It was an issue that challenged him after the breakup with his Realtor boyfriend who was his main supply of leads.

Munar was mostly worried that real estate agents wouldn’t want to work with him because of his sexual orientation and the fact that he is Hispanic.

“I kind of started being like, ‘Are they gonna be OK with the fact that they’re sending their clients

>

“His core values of loyalty and honesty and all those things was what showed through.”

> Megan Marsh, co-founder and CFO,

to a gay person? Are they going to care that I’m Hispanic?” Munar wondered.

He knew he was more than capable. His work ethic had been developed in the fast-paced restaurant industry at a small eatery situated near Hershey Park. The 16-year-old Munar was running table to table, taking orders, and entertaining guests year-round. The summer season was especially chaotic, which he loved.

As Munar grew older, his entrepreneurial ambition grew bolder, and he had a dream of opening his own restaurant. Lacking the desire to work behind a hot grill, Munar went to the Pennsylvania Culinary Institute in Pittsburgh, for a two-year degree in hotel restaurant management. “I don’t know how to cook, but it taught me how to manage and lead people,” Munar said.

After graduating in 2005, Munar went back to the restaurant business where he waited tables and bartended, eventually working his way up to third-shift manager. That was until he met his boyfriend, the successful real estate agent.

“He was also 17 years older than me,” Munar said. “He had friends in the business and obviously, back then, 2006 were the good times. Mortgages were crazy and everybody was doing well.”

A NEW ENDEAVOR

Munar was just 20 years old and his successful 37-year-old boyfriend seemed to have everything figured out. Even his conservative parents, who had struggled to accept his sexual orientation, were impressed with his partner. A housewife and horse jockey, they didn’t have much knowledge about the real estate and mortgage industry, but from the way Munar’s boyfriend dressed and presented himself, this was a “capital B” businessman.

“The first time that I called my boyfriend and he let it go to voicemail, it was like, ‘Hi, my name is so-and-so, top producing agent with this company.’ Like, it sounded so professional, right? I’m like, wow, like, this is so cool and so amazing,” Munar said. “I’m just like this restaurant kid, and here I am with this person who, you know, when we think of real estate agents, we think of these prestigious people.”

In 2006, while Munar continued working in the restaurant business, his boyfriend told him that a friend in the mortgage industry needed an assistant. Munar was excited to begin a real office job at a mortgage company. At that time, he didn’t need a license to take applications, process loans, call clients, and give quotes.

“Back then people were literally picking up the phone book and just calling people from the

phone book. So his phone was ringing off the hook,” he said.

It was another busy atmosphere that would keep Munar entertained, with phones ringing, emails flooding his inbox, and the fax machine constantly going off. It reminded Munar of the restaurant industry, but with more potential.

RECRUITING SERVERS

To this day, Munar likes to recruit new professionals from the restaurant industry, because the same skills and work ethic are needed for both jobs.

“As a server or a bartender, they’re very used to coming up to the table and just starting a conversation. It’s easy for them to pick up the phone and have a conversation with a borrower about credit or their application or what other documents they may need,” Munar explained. “So people who thrive in the restaurant industry also thrive in the mortgage industry.”

In 2007, Munar learned the ropes and was able to become a loan officer himself at a company called Priority Mortgage. At that time, nearly all of his clients came from his real estate agent boyfriend. He never had to hustle for referral partners or worry about what people in the industry would think of him. Networking was not necessary and he was bringing in enough business that his colleagues would respect him.

“Like 95% of the time I was getting clients through my boyfriend, plus maybe like one or two other Realtors every other month sending me

>

“I don’t have to flaunt it that I’m this gay man who owns a mortgage company and can produce a lot of loans. My work ethic will speak for itself.”

> Andres Munar

business,” Munar said. “My partner at the time was a top producing real estate agent. He was closing a ton of business, and so he was able to feed me three to five loans a month. And that fed me well.”

FOCUS ON UNITS

An important lesson he learned from his ex-boyfriend was that units drive dollars, and not to focus on the dollar amount of any loan. His main goal was to close as many loans as possible and the money would eventually come. He was also taught to be purchase-focused, which is what many new loan officers are learning now after the 2020 and 2021 housing boom brought in extraordinary volume.

But what he ended up discovering was that none of that mattered because of his superb work ethic and ability to close even the toughest loans. Plus, being a bilingual Hispanic actually helped him form connections with Realtors who had Spanish clients.

That alone was able to carry him through 2010, and in 2011 he started his own branch under True Mortgage, but he was only making $50,000 to $60,000 a year.

“I’m thinking to myself there’s gotta be more to this than just doing a few deals here and there,” Munar said.

That’s when he started planning to open his own mortgage business in Pennsylvania. He began building up a referral network and got his own assistant in 2012, which allowed him to close even more loans. In 2014, Munar mustered up the confidence to ask his boss for a raise. He was paying for an assistant out of his own commission, he brought in 80% of the company’s business, and all of that business he was able to generate himself. But his boss didn’t want to negotiate a better compensation plan, so Munar and his assistant left to start their own company.

ON HIS OWN

In 2014, Munar got his mortgage broker license in Pennsylvania, and launched Munar Mortgage LLC. “The business was just fascinating,” Munar said. “So we footed the bill for coaching, which was quite expensive, like $2,500 a month, but that’s when my business started to grow.”

This is about the time when Munar met his future friend and business partner Megan Marsh at a seminar.

“We started realizing like we’re on two sides of the state, so we’re not really competition. We’re also paying for a lot of the same things twice. And we’re really helping each other a lot, so why

not just join brokerages? So we turned Munar Mortgage LLC into doing business as Keystone Alliance Mortgage,” Munar said.

Keystone Alliance Mortgage also serves Spanish-speaking clients, including those who reside in Puerto Rico.

Even his sexual orientation as a gay man has allowed LGBTQ+ clients to gravitate toward him. Munar shared that recently he pre-approved a lesbian couple for a mortgage and they’ll be going on to work with a lesbian Realtor. This leads him to tell his marketing team that they need to advertise as a LGBTQ+ friendly company, in order to make those in the community feel more

comfortable working with his team.

“I believe that things are different in this day and age,” Munar said. “It’s okay to talk about those things as long as you’re surrounding yourself with the right people who support you, and love you, and trust you and want good for you. Now I do business with people who see me as a mortgage broker and not a gay Hispanic man.”

FINDING ALLIES

When Munar and Megan Marsh first met at the Marketing Animals Coaching event, she was pregnant with her third baby and was running 10 different businesses at the same time, so showing up late was sometimes an unavoidable consequence. To avoid attention she quietly slipped into the back of the room but quickly noticed a man, Munar, sitting in the front row avidly participating by raising his

From left to right are business partner Megan Marsh, Munar’s father, Andres Munar, Munar’s little brother, and his mother. Marsh had come down to Harrisburg to visit Munar for a team dinner along with Munar’s family.

hand, asking questions, and being very vocal throughout the entire session.

“I just was like, ‘Who is this guy?’” Marsh said. “He came and sought me out on a break and introduced himself. He’s like, ‘Hey, we’re both from Pennsylvania, we’re both brokers,’ and he is very social. Andre’s the high eye. He’s like, ‘We should stay in touch.’”

When they returned back home to Pennsylvania after the event, a friendship eventually emerged between them. Since both of them had an abundance mindset, they were comfortable asking and providing advice to one another.

Later, Marsh discovered her business partner at the time was stealing money from the company, which devastated her. Munar then offered to sponsor her license until she could open up her own company. So Marsh essentially formed a business under Munar’s company and after a few months, Munar proposed that they merge their companies together and form a partnership. That ended up being a very successful partnership and business skyrocketed.

Prior to their partnership Marsh estimates her business was closing $20 million a year while Munar was closing about $18 million, so after combining their companies, they were closing about $40 million in loans.

“His (Munar’s) experiences growing up and being picked on and being ostracized, he was always the one that stood up for me,” Marsh said. “And his core values of loyalty and honesty and all those things was what showed through when we would hit difficult times or somebody who was trying to tear me or someone on the team apart. The two of us just make a powerhouse together.”

LGBTQ+ SUPPORT

It’d be fair to say that society in the US has made significant progress in the acceptance of the LGBTQ+ community, but it can’t be said without acknowledging the fact that it’s still

RELATED CONTENT

an area of high controversy. Recent events, such as the Dylan Mulvaney controversy demonstrate this, when Bud Light decided to feature the transgender influencer on one of its beer cans, causing backlash among some consumers and leading them to boycott the company. There’s also plenty of people who claim there is too much support for the gay community, and gay pride is being “thrown in my face.”

“I’m after you treating me as a person, as a human, as Andre, not as that gay guy,” Munar said. In the finance industries it can be especially tough for openly gay individuals.

“I absolutely see, you know, it’s a boys club and our business tends to have a little bit of older people. … We’re talking like 50-, 60-year-old executives who still maybe think a specific way and who still think that it’s an all-boys club. Then there’s the other 50% of it where I think it goes back to surrounding yourself with the right people.”

The good thing is there are plenty of people who don’t fit in the boys club mold for one reason or another, and they’re able to support each other. The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) is a mission-driven organization that is part advocacy and part business. Essentially, it’s a referral network for Realtors and mortgage professionals, so no one needs to feel shunned or unable to get business because of their sexual orientation or identity.

“Look forward and work with people who want to work with you,” said Jeff Berger, founder of NAGLREP. “The LGBTQ community and its allies very much want to work with LGBTQ and allied professionals.”

But the pool of borrowers and referral partners is much larger.

“I don’t have to flaunt it that I’m this gay man who owns a mortgage company and can produce a lot of loans. My work ethic will speak for itself,” Munar said. “I don’t need to prove who I am. I’m just going to show you that … I know what I’m talking about.” n

There are also LGBTQ+ homebuyers who struggle with mortgage approval bias, according to a study conducted by the UCLA Williams Institute School of Law. And, surely, these homebuyers would appreciate a LGBTQ+ ally or member of the community to assist them in their quest for a mortgage. Study co-author Luis Vasquez, a Scholar of Law at the Williams Institute, came on the Gated Communities podcast to discuss the challenges LGBTQ+ people face when trying to buy a home and how originators can help.

https://nationalmortgageprofessional.com/podcasts/gated-communities/lend-pride GSEs Among Best Places To Work For LGBTQ+ Equality

https://nationalmortgageprofessional.com/news/gses-among-best-places-work-lgbtq-equality

Picture your dream home. Now look down. There’s a bright red line keeping you out. Join host Katie Jensen as we dive into redlining and the legacy of discrimination. You’ll hear first-hand accounts from those who’ve had to fight back to achieve their dreams. And we’ll challenge industry leaders on how to rewrite this legacy. Listen

PRISM AWARDS

2023

When choosing a home, 94% of LGBTQ+ homebuyers value a safe area, with a lack of harassment and violence, according to a 2020-21 report by the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP). Nearly the same percentage, 95%, of homebuyers overall also listed a safe area as a reason for choosing a home, according to the same report.

The rest of the numbers in this report and many others in recent years tell a far different story, a story that LGBTQ discrimination in real estate remains a problem, members of the LGBTQ community are less likely to be homeowners, and neighbors who are accepting are key to feeling welcome in a new place.

For example, Realtor.com and LGBTQ+ Real Estate Alliance surveyed 1,538 LGBTQ community members in May 2021, finding that 49% of respondents owned their primary residence, compared to about 66% of the general population. This number was even lower among transgender (35%), Black (29%) and Latinx (41%) community members. While there are many factors that contribute to this homeownership rate, economic and other forms of discrimination can discourage homeownership, the report said.

A survey of LGBTQ+ Real Estate Alliance members, published on thebalancemoney. com in January, found that nearly 20% of respondents have experienced high levels of

Lenders Commit To LGTBQ+ Inclusion

PRISM honorees doing their part for clients, colleagues

unconscious bias within their local real estate industry. The survey also found that 20% of Alliance members said real estate agents were the top culprits of housing discrimination against LGBTQ+ people.

The fact that the LGBTQ+ community is underserved is why National Mortgage Professional magazine is honoring three mortgage lenders for their commitment to diversity and inclusion in an industry where 8% of brokers are LGTBQ, according to a September 2022 report by Zippia, an online recruitment service.

Fairway Independent Mortgage Corp., of Madison, Wisc., Capital Mortgage Funding of Southfield, Mich., and Geneva Financial Home Loans of Chandler, Ariz., each have their own styles and programs to promote diversity and inclusion, but all three are united in believing their ways benefit both employees and customers.

These companies recognize that their commitment is both the right way to do business and a boon to their bottom lines. After all, the LGBTQ+ represents $1 trillion of buying power in the U.S., according to that 2020-21 NAGLREP report. 

CONTINUED ON NEXT PAGE

2023 PRISM AWARDS

FAIRWAY INDEPENDENT MORTGAGE CORP.

Madison, Wisc.

CEO: Steve Jacobson

Website: fairway.com

Fairway Independent Mortgage Corp. prides itself on being a company that strives to serve all.

Backgrounds, heritages, choices, or preferences don’t matter. Fairway, a retail lender licensed in all 50 states, exists to help and serve people, says Julie Fry, Fairway’s chief human resources officer.

No. 1 among Fairway’s core values is humility first. This value, paired with servant leadership, allows Fairway to encourage diversity of thought, create a culture of trust, have an unselfish mindset, and foster a team mentality, Fry says.

“Our core values and Fairway philosophy continue to be our foundation in serving our communities, one loan at a time,” she says.

Fairway believes inclusive practices benefit both customers and employees.

“We have the freedom to advertise to whichever platform we want to promote our services to diverse clients of any background,” Fry says.

“As just one example, one of our loan officers, Richie S., is a board member of our FairwayPride Employee Resource Group,” Fry says. “He advertises his loan services on the Arizona Pride Guide and participates in LGBTQ+ chamber events.”

Another example is Cole S., a loan officer and FairwayPride lead/board member.

“He feels he can be his true, authentic self serving his clients,” Fry says. “He has built a network of people who refer him to clients that seek a gay loan officer they can trust and build a relationship with during the homebuying process.

Both Richie and Cole feel they can perform better and feel much more satisfied at a job that accepts and supports who they are, she says.

Diversity Of Thought, Culture Of Trust

Fairway believes inclusion a boon to customers, employees

Oftentimes, borrowers seek out someone of LGBTQ+ as trust is established almost immediately with that connection and commonality, in a safe space where they feel accepted and not judged, she says.

The most positive gain from Fairway’s inclusive practices are the new connections formed from its employee resource groups. There is a wonderful sense of belonging when you find others with whom you can relate and know you are not alone, Fry says.

The FairwayPride employee resource group was launched in November 2021, and now has nearly 100 members who meet monthly.

“This has been an amazing support group with educational opportunities and sharing stories and resources,” Fry said.

Employees take note of these inclusive practices.

Witness this testimonial from Ashley Howell (She/They), a branch administrative assistant: “WOW! What an incredible group! These meetings are so informative, and I am so grateful

for the opportunity to not only learn about people I work with at Fairway, but also feel so at home knowing that we are each humans going through so many things in this life. We each go through our own evolutions of self, and I’m comforted knowing that I have a safe space to continue to grow. I’m so grateful to be a part of this community and grateful that Fairway has open arms and open hearts for us.”

Fairway also took steps to provide additional benefits to help its LGBTQ+ employees. In 2022, it launched the Family Building Benefit Program, which supports the diverse needs of employees living in traditional, same-sex or alternative families. The program does not require a diagnosis of infertility, removing the barrier for LBGTQ+ participants so that Fairway can support all employees’ path to parenthood.

“Fairway’s culture makes us feel that we are joining a family versus just a job,” Fry says. “That’s what sets us apart and makes our employees feel valued, appreciated, heard and accepted in a safe, inclusive work environment.” 

2023 PRISM AWARDS

CAPITAL MORTGAGE FUNDING

powered by Fairway Independent Mortgage Corporation Southfield, Mich.

CEO: Harry Glanz

Website: capitalmortgagefunding.com

For Capital Mortgage Funding, supporting LGBTQ+ employees and promoting equality and inclusion in the mortgage community means being active and having a strong presence throughout the year, not just during Pride Week.

For borrowers, it means having equal access to opportunities and resources where they might otherwise be excluded and marginalized, says Lynnette Ricketts, Capital’s internal marketing director.

For employees, it means they are supported no matter their gender, ethnicity, age, sexual orientation, religion or other attributes. Employees at Capital Mortgage Funding are encouraged to bring their whole selves into the workplace, have their voices heard, and have their creativity and innovation unleashed, Ricketts says.

Capital Mortgage Funding, a retail lender licensed in 12 states, offers an inclusive environment where teammates can strive to be the best version of themselves, she says. Many opportunities are offered for employees to contribute to the diversity and inclusion conversation. Numerous employee resource groups serve as safe platforms where employees can come together for support, encouragement, inspiration and growth.

One of Capital’s top originators, Becky Alley, is of the LGBTQ+ community herself.

“We feel that her presence within our office and community is key to show that success has no bounds or limitations,” Ricketts says. “Sharing her story and being a strong voice of future generations to pave the path of success has been a mission of not only Becky but Capital Mortgage Funding.”

Supporting

‘Their Whole Selves’ For Capital Mortgage, it’s Pride Year, not just Pride Week

Capital hosts buyer seminars monthly within surrounding communities promoting inclusion for all. These seminars educate all attendees on the best path to homeownership, regardless of background.

Capital Mortgage Funding and Alley design a new Pride line every year that promotes those in the LGBTQ+ communities.

Ricketts says Capital Mortgage Funding markets a full shop of diversity and inclusion along with Pride promotional items to promote awareness. Special employee resource groups have been formed and are actively promoted. Capital Mortgage Funding raises awareness during local Pride festivals and events while raising money for charities.

Since its inception in the spring of 1992, Capital has thrived off its relationship-driven process. Co-founders, Harry Glanz and Dan Burke built the business with a common goal: to

help families all across Michigan achieve their dreams of homeownership. Since then, Capital has helped thousands of families across the country finance their homes.

As one of the largest residential mortgage companies in southeast Michigan, Capital finds responsibility in making sure that all clients it meets to purchase or refinance have the proper tools and support to get them to the finish line, Ricketts says. Communication is key in each transaction, and treating clients like family creates a lasting connection, she says.

“We feel that every day is Pride, and no one should hide who they are or who they love,” Ricketts says. “We take steps every day alongside Becky to show everyone and anyone, they do not need to hide in plain sight because LOVE IS LOVE. We are relationshipdriven and here to walk shoulder to shoulder with the LGBTQ+ community.” 

2023 PRISM AWARDS

GENEVA FINANCIAL HOME LOANS

Chandler, Ariz.

CEO: Aaron VanTrojen

Website: genevafi.com

At Geneva Financial Home Loans, it all starts with being a “good human.” That No. 1 core value permeates the entire company. CEO Aaron VanTrojen started Geneva with the idea that each employee would add, not detract, from a culture of equitability, inclusion, and empowerment. Part of that is ensuring employees feel comfortable and supported in the workplace and beyond, no matter race, ethnicity, gender identity, religion, or any other factor.

At Geneva, a retail lender licensed in 47 states and Washington, D.C., this human-first culture prioritizes creating a safe and inclusive environment for employees, clients, and other stakeholders, says Caden Whiffen, Geneva’s brand marketing manager.

“Each year we strive to make homeownership more accessible to all people,” Whiffen says. “Owning a home is a great equalizer in the community, and we desire to give back to our communities in the best ways we can. People are drawn to our culture and have stayed with Geneva for years because of it.”

Part of that giving back is the Geneva Gives initiative, which spotlights local charities and nonprofits including those supporting the LGBTQ+ community. Geneva creates variations of its Be A Good Human T-shirt in support of different initiatives, including one for Pride Month. Its original T-shirt also sports a nod to the company’s LGBTQ+ support, Whiffen says.

The most positive feedback, Whiffen says, has taken place in Geneva’s culture and the vibrant community it has created.

“We have cultivated a welcoming and inclusive environment for all people, and

The Human Touch

Geneva’s Culture Prioritizes Safe, Inclusive Environment

employees are taking note,” Whiffen says. “We have been recognized by multiple magazines and awards for our unique take on the mortgage industry and what it means to truly humanize the homebuying process. Again and again, we are awarded titles like Best Company for Diversity and Best Company to Work For by our employees who are truly passionate about their work environment.”

Geneva’s mission is to approach every aspect of its business from the “insideout.” With a culture-forward mindset, the company focuses on its mortgage loan originators and support staff first in order to ensure an unbeatable experience for customers.

Geneva’s inclusive practices have empowered its employees to be themselves in and outside of the workplace. Whiffen notes that more than half of Geneva’s leadership team alone is made up of women and members of the LGBTQ+ community, creating a

standard for acceptance and open-mindedness at the top. These leaders are passionate about creating a culture of inclusion and acceptance across all levels.

“We also have more female and minority branch managers than any other mortgage company in the industry,” Whiffen says.

Despite a constantly shifting market, Geneva is always looking for talented, open-minded, good-hearted people to join it on the journey. Geneva has fostered a diverse community with employees of all different backgrounds, ethnicities, and orientations, creating a culture that is welcoming, supportive, and inclusive in a way that is unheard of in an industry that can be very uniform, Whiffen says.

“We are genuine about wanting to support these communities in the mortgage industry and are excited our originators are just as involved in celebrating and developing our Good Human culture,” Whiffen says. 

Acra Lending Non-QM / Jumbo

AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MI, MN, MT, NE, NV, NH, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WY

acralending.com

Champions Funding Mission Driven Non-QM + CDFI Wholesale Lender

Civic Financial Services

Global Integrity Finance LLC

Civic delivers fast, honest, simple lending for real estate investors.

DSCR Rental NO DOC Loans

AZ, CA, CO, CT, DC, FL, GA, HI, IL, IA, MD, MI, NJ, NC, OR, PA, SC, TN, TX, UT, VA, WA

AZ, CA, CO, FL, GA, HI, ID, IL, IN, LA, MD, MA, MI, MN, NV, NJ, NC, OH, OK, OR, PA, SC, TN, TX, UT, VA, WA, WI civicfs.com

AL, AR, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS,

Starting

business doesn’t have to be daunting. Build-A-Broker is a halfday bootcamp designed to help you establish the solid foundation needed to launch your business, or streamline and strengthen your existing one.

It’s Not Easy Being Nick

Nick Roberson is a long-time mortgage industry veteran and a board member of the California Association of Mortgage Professionals. He’s a forthcoming and giving guy, who shares his … unique … perspective on work and life on his Facebook account. Here are some of Nick’s FB thoughts this month:

Apair of cows were talking in the field. One says, “Have you heard about the Mad Cow disease that’s going around?”

“Yeah,” says the other cow. “It makes me glad I’m a penguin.”

My girl is learning a lot in college. She is now refining the art of the long-con.

For the last few months, every now and then, she would end a conversation with, “I’m getting a piercing” or “I’m getting a tattoo.”

I always laugh and say, “Alright, go ahead. You are so funny.”

As I mentioned, this has been going on for quite some time. Yesterday, I laughed and asked her why she keeps saying it. She said, “You think I’m joking, but one of these days, I am going to get one. Then you will ask me why I didn’t tell you, and I will reply, I have told you several times. I will also note that each time you told me to ‘Go ahead.’”

Hmm, I am now looking at conversations with her like a game of Scrabble. I put down a simple word and the next thing I know, she turns it into a tripleword score. This game is not over, my little grasshopper. • • •

Have you ever been walking out of a store carrying several bags, and one of them somehow gets stuck on a door handle catching you by surprise, pulling your arm back so hard that you get PTSD about the time you were 5 years old and veered too far outside of your mom’s “stay with me” zone, and she pulled

you back so hard and fast that your arm was 3 inches longer than the other one for a week? Yeah … that just happened.

Why do ducks have feathers? To cover their butt quacks!

A duck walks into a bar and says, “Do you have duck food here?”

The bartender says, “No,” and the duck leaves.

The duck comes back the next day and says, “Do you have duck food?”

The bartender says, “No!” and the duck leaves.

The duck comes back the next day and says, “Do you have any duck food?” The bartender says, “I already told you ‘No’ twice! If you come back and ask me again, I’m going to nail your feet to the floor!”

The duck comes back the next day and says, “Do you have any nails?”

The bartender says, “No.”

And the duck says, “Do you have any duck food?”

I’m not totally useless. I can be used as a bad example.

You are only young once, but you can stay immature indefinitely.

Licking someone’s face is a quick and 100% foolproof way of ending a conversation. •

Remember how when you were little, you could rip off your diaper and run around naked and everyone thought it was funny and cute? Anyway, I need bail money. •

“They dared me to” is always a valid excuse. •

Man Day began several years ago in response to my mother’s complaint that perhaps I shouldn’t click “Like” on posts for art, theater, ballet, fine dining, and other things deemed by her to be less than manly. Out of respect for my mother, Man Day was created to celebrate the art of manliness.

Man Day has no specific calendar day, no Hallmark cards and no gifts are warranted (except for whiskey, steaks, and bacon, which are always welcome). Simply a day selected at random as a man sees fit. So take note Mom, I declare Friday to be Man Day. Because I am a Man and I can. n

To see more by Nick,just go to www.facebook.com/nickroberson

Nick Roberson

Even Coca-Cola recognizes it.

Discover Where Your Competitors Stand In The Mortgage Market

Adapting to today’s dynamic mortgage market has changed the way we analyze trends and track competitors. Luckily, we have the tools you need to determine your competitors’ market share and see how individual loan originators are performing in their market.

Mortgage MarketShare Module

Our Mortgage MarketShare Module provides real-time market insights on all lenders, helping you easily benchmark your company’s market share, identify new and emerging markets, and measure your sales performance against your competition.

Loan Originator Module

Our Loan Originator Module provides you with access to the largest and most comprehensive loan originator database in the country. Take advantage of this access to identify top-producing loan officers, verify production, and monitor competitors.

GET A FREE MORTGAGE COMPETITOR ANALYSIS

To show you just how powerful our modules are, we’re offering a free customized mortgage competitor analysis. Simply visit www.thewarrengroup.com/competitor-analysis and provide us with a few details. You’ll receive an updated 2021 vs. 2022 Quarterly Mortgage MarketShare Report at the company level paired with a Loan Originator Report highlighting top LOs and individual performance.

Visit www.thewarrengroup.com to learn more today!

Questions? Call 617.896.5331 or email datasolutions@thewarrengroup.com.

BENEFITS

• Monitor Residential and Commercial Lending

• Measure Sales Performance and Market Activity

• Identify High-Performing Competitors

• Uncover Emerging Markets and New Opportunities

• Pinpoint Top Loan Officers for Recruitment

• Identify and Verify Loan Originator Performance

• Measure Loan Activity Against Competition

• Highlight Success for Market Positioning

NEED MORE DATA?

Inquire about our NMLS Data Licensing and LO Contact Database options.