Mortgage Women Magazine March 2020

M A R C H /A P RIL 2020

T W E LV E 1 1 ME DI A

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A N N E M A R IA A LLE N PR E S I D E NT & C E O O F TH E CO M PLI A N C E G ROU P

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RE GUL AT ORY C OMP L I A N C E IN A NE W E R A-A RE YO U RE A DY ?

# NE X T W IN T E R20 C O V E R AGE

Published every other month

by Twelve 11 Media, LLC 9720 Royal Lamb Drive Las Vegas, NV 89145 Phone: 512.879.4363 Email: INFO@MortgageWOMENMagazine.com www.MortgageWOMENMagazine.com

OUR MISSION The mission of this publication is to empower women professionals working in the mortgage industry. The publication seeks to provide education and knowledge to give each professional woman key tools to achieve their highest potential possible and to enable them to take advantage of the opportunities before them. Through the magazine's networking and connection from readership, each woman has the opportunity to be inspired and extend that through mentorship-furthering achievements to the highest level positions possible in the mortgage industry.

SUBSCRIPTIONS This publication is for the benefit of professional women in the mortgage industry, including those professional mortgage women who own and/ or who are employed by the vendors who support the mortgage industry, and all professional mortgage women in the mortgage divisions of the State- and Federally-chartered banks and credit unions. If you do not currently receive Mortgage WOMEN Magazine, please go to www.

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Mortgage WOMEN Magazine is a digital, bi-monthly magazine that is emailed to the subscribers. The subscription is FREE. For additional copies for your colleagues and co-workers, please visit our website at www.MORTGAGEWOMENMagazine.com and complete the online subscription form. To opt-out of receiving Mortgage WOMEN Magazine, please send your request along with your name, company name, and email address to: SUBSCRIPTIONS@MortgageWOMENMagazine.com.

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EDITORIALS / ARTICLES To submit an article for consideration in Mortgage WOMEN Magazine, please send an email to ARTICLES@MortgageWOMENMagazine.com.

We are interested in original writings relevant to the mortgage industry as it relates to Legal, Regulatory Compliance, Risk Management, and Quality Assurance issues. If you have a comment or question about an article or editorial published in Mortgage WOMEN Magazine, or if you have a suggestion for a topic you would like to see featured in a future issue, please send an email to ARTICLES@MortgageWOMENMagazine.com.

MORTGAGE WOMEN MAGAZINE POLICY The information and opinions expressed by contributing authors and advertisers within Mortgage WOMEN Magazine do not necessarily reflect those of Twelve 11 Media, LLC’s management and /or employees and should not be considered as endorsed or recommended by Twelve 11 Media, LLC.

F ROM T HE E DI T OR Dear Mortgage Women, PUBLISHER | Ben Slayton BSlayton@Twelve11Media.com MANAGING EDITOR | Leora Ruzin LRUzini@Twelve11Media.com SENIOR EDITOR | Jill Emerson JEmerson@Twelve11Media.com

It is with great honor that I am taking over the editor duties from the incomparable Kristin Messerli. Under her stewardship over the last three years, the magazine saw great success and increased readership. She brought fresh, new ideas to the publication, and gave our readers a wealth of information on how to navigate through this

OPERATIONS DIRECTOR | Dawn Slayton Dawn@Twelve11Media.com

fast-paced industry.

DIRECTOR OF ADVERTISING David Hoierman Hoierman@Twelve11Media.com

As I begin my tenure at the helm, my goal is simple; to retain the core fundamentals of the magazine, while incorporating new content that will be focused on giving our readers valuable insight into how to improve the operations throughout the life cycle of a real estate lending transaction. We will continue to provide women with tools on how to advocate for themselves through tried and true business practices, not only in the conference room, but on the sales floor and beyond.

NATIONWIDE ADVERTISING Vanessa Williams Vanessa@Twelve11Media.com PRODUCTION | Henry Suchman HSuchman@Twelve11Media.com DIGITAL MEDIA | Eric Souza Eric@Twelve11Media.com COLUMNISTS & CONTRIBUTING AUTHORS AnneMaria Allen Christine Beckwith Liz Green Laila Khan

Alden Knowlton Vanessa Montañez Cindy Smith Sue Woodard

MWM ADVISORY BOARD KRISTIN MESSERLI CHIEF EXECUTIVE OFFICER CULTURAL OUTREACH LISA KILKA CHIEF COMPLIANCE OFFICER, SVP GUILD MORTGAGE MELISSA KOUPAL VICE PRESIDENT LOAN INTEGRITY LOAN DEPOT REGINA LOWRIE PRESIDENT & CHIEF EXECUTIVE OFFICER RML ADVISORS

With that being said, be on the lookout for features from proven leaders in the areas of processing, underwriting, closing, post-closing and back-office operations. This focused content will be in addition to our popular columns such as “Mortgage Moms,” “Trailblazers,” and “#LeadingWomen, formerly #BossBabe.”

As a regular contributor, Mortgage Women Magazine has been a part of my life for the last four years, and to be given the opportunity to usher in this new era of the magazine is one that I will not take for granted. The words of kindness and support has meant the world to me! As always, if you have any ideas for content, please do not hesitate to reach out to me at leora@mortgagewomenmagazine. com.

Thank you again for welcoming me with such open arms. I look forward to being on this journey with you all.

SARAH BOWERS, CRCM, CMB, CAMS COMPLIANCE ADVISOR COMMERCE BANK DEBRA STILL PRESIDENT & CEO PLUTE MORTGAGE BECKY WALZAK PRESIDENT & CEO RJB WALZAK CONSULTING SUE WOODARD PRESIDENT & CEO VANTAGE PRODUCTION, LLC JILL EMERSON SENIOR EDITOR MORTGAGE WOMEN MAGAZINE

Visit us at www.MortgageWOMENMagazine.com

Leora A. Ruzin, CMB Managing Editor

Mortgage WOMEN Magazine welcomes your feedback. If you have comments, questions, criticisms, praise, or information to share with us and our readers, please write us at info@Twelve11Media.Com.

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12 F E ATU R E S 8 The New URLA and the

Opportunity to Improve Loan Quality

LIZ G R E E N

12 RE ACH I NG M I LLE N N IAL S I N A N ICH E M AR KET LAILA KHAN

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THE NE W URL A AND THE OPPORTUNIT Y TO IMPROVE LOAN QUALIT Y

y t i l a u Q Loan

TH E N E W U R L A AN D TH E OPPO RTU N IT Y TO I M PROVE

BY LI Z G R E E N

Thomas Edison once said that “opportunity is missed by most people because it is dressed in overalls and looks like work.”

This could be an apt summary of the changes in the redesigned Fannie Mae/Freddie Mac Uniform Residential Loan Application (URLA, 1003/70) that are scheduled to take effect in November.

Adapting to the industry's first major redesign to the application in decades certainly will require work. And, it will require a significant amount of time and effort to train mortgage professionals to interact with the new form and make sure one’s technology partners are on board with the changes. We only have to look back at 2017, when the new TRID Loan Estimate (LE) and Closing (CD) disclosures came out, to see how difficult it can be to adjust to industry-wide changes that the new URLA will present.

Yet, the new and improved URLA form also represents a huge opportunity to improve mortgage loan quality industrywide, if lenders are prepared to take advantage of it. And it’s not too late to get started.

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Changes with the New Form

When one looks at the new URLA, the first thing that comes to mind is how different it looks compared to the current version. It’s definitely an upgrade to a more modern, sleeker appearance. The new design has the same look and feel as the Loan Estimate and Closing disclosures. That’s not an accident. In fact, the GSEs engaged the same designer for the URLA as the CFPB used for the TRID forms.

Another major difference is how the URLA will be used. The current form was originally intended to be filled out by hand; whereas, the new application is intended to present information that is collected digitally. Like the LE and CD design, it is dynamic in nature to track with specific borrower and loan details.

In other words, the form “grows” depending on the type and amount of information that

THE NE W URL A AND THE OPPORTUNIT Y TO IMPROVE LOAN QUALIT Y

BY M E G DA I LY

is required for the case. However, there is a baseline of information that applies to all cases, regardless of loan details or borrowers.

With the redesigned URLA, there’s no longer the same rigid profile of a homebuyer (or two) that the current form has required for the past 25 years. The new form provides for the presentation of multiple borrowers without the need to add extra pages. It also enables the collection of additional information about the borrower’s assets without the addendums or additional forms that are required today. It is estimated that the redesigned URLA is about 130 percent larger than the current application, with 94 new data points available.

We may not know for sure until the new form is widely in use, but it certainly looks as if it will be easier for consumers to use. A key driver behind the new design is to improve

loan quality and salability, which are equally as beneficial as providing a better consumer experience. And core to the new design is the use of a data layer using MISMO standards, which will represent a sea change in loan quality by eliminating many current data ambiguities.

A Foundation to Building Better Loans

By leveraging data collection and presentation with modern approaches from the very beginning of the loan process, lenders are more quickly able to determine a borrower’s eligibility, which helps accelerate the origination process and improve the borrower’s experience. On the backend, having collected all the key data in a standardized, digital process paves the way for automation to deliver smoother, faster closing, and expedient delivery of the asset to aggregators and investors.

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THE NE W URL A AND THE OPPORTUNIT Y TO IMPROVE LOAN QUALIT Y

The new URLA is supported by a new systems of record, their doc prep providers, and all downstream service providers will need to be companion dataset, the Uniform Loan Apready to support the new data requirements. plication Dataset (ULAD) as prescribed under In addition to technology changes, there the FHFA’s Uniform Mortgage Data Program, will need to be training and outreach for the and is based on the MISMO 3.4 Reference business users and consumers who will interModel. Fannie Mae and Freddie Mac have also act with the new application. The layout and updated their automated underwriting system organization of information datasets to support the new and additional data will all be design and additional data.

OUR INDUSTRY points that should be covered Using standardized data defiin an organization’s rollout nitions make it much easier SHOULD LOOK AT and training program. Underfor lenders to exchange data THE URL A NOT AS A standing how your vendors with the GSEs and share data are accommodating the new CHALLENGE, BUT among their partners. requirements is absolutely key To help the industry adopt AS AN OPPORTUNIT Y to the planning process. to the ULAD and the revised TO MANUFACTURE To be sure, adopting new AUS file specifications derived forms is no easy endeavor. from MISMO 3.4, MISMO is BETTER, HIGHEROur industry should look at publishing a common referQUALIT Y LOANS, the URLA not as a challenge, ence under the name “Indusbut as an opportunity to manWHILE REDUCING try Loan Application Dataset” ufacture better, higher-quality (iLAD) specification. The iLAD COSTS AND IMPROVING loans, while reducing costs is designed to replace the THE BORROWER and improving the borrower Fannie Mae 3.2 flat file, which experience. has served as the industry's EXPERIENCE. Because the mortgage de facto data exchange format lending business has been for years and is being elimiform-driven for so long, the nated with the introduction of new, digital and dynamic URLA represents a the URLA. Importantly, iLAD also provides for seismic shift in our industry. Those that make the fields that would otherwise be dropped the most out of it will certainly come out ahead. with the retirement of the FNMA 3.2 File and cross-references GSE’s AUS requirements along with the form dataset (ULAD).

The Need to Prepare Now

While the URLA represents an amazing opportunity for lenders to produce stronger, higher quality loans, there’s still a lot of work to do. The effective date for the new form is coming fast: November 2020. That means lenders, the software they rely on as their

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Elizabeth Green is chief data and product solutions officer at LoanLogics. In this role, she is responsible for the development of the company’s solutions and data strategy, as well as expansion of products, including in the area of collateral risk assessment. Elizabeth is a 25-year veteran leader in the mortgage software and valuation sectors.

She has been a leader in several standards organizations including MISMO and has a deep history of defining and applying data standards in practical use.

RE ACHING MILLENIALS IN A NICHE MARKET

REACHING MILLENNIALS IN A NICHE MARKET:

s e i g e t a r t Three Key S to Succe ss

BY L A I L A K H A N

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RE ACHING MILLENIALS IN A NICHE MARKET

I still remember the challenges of being a first-time homebuyer. My husband and I were very young with three toddlers and we had no idea what we were getting into. We knew we had to save a big chunk of money and that was about it.

The financing process was daunting. We were shocked at the amount of data we had to supply, and we grew increasingly frustrated at all of the undisclosed aspects of the application and eligibility process. We dealt with one curveball after another before we finally held the keys to our home.

All that time, we were anxiously looking for reliable resources and professional guidance, and we didn’t find it.

Now that I’m working in this field as a marketing leader at a home finance company, this reliable guidance is what I aim to provide to the young homebuyers of today.

The basic needs of buyers haven’t changed, although the methods and options have progressed lightyears ahead. The way that Guidance Residential has come to the forefront in our niche space is by understanding and addressing our buyers’ needs while communicating with them in the ways they have come to expect.

Here are some of the lessons I’ve learned.

#1: CARE ABOUT THEM

This was easy, because we already did.

They are who we were a few decades ago.

Caring also comes from knowing the impact of your work, the end result. In our case, our immigrant families truly establish their roots in this land through our services.

Our niche market of American Muslim home buyers was previously under-served. Many felt as though they could not buy a home because they couldn’t find financing that aligned with the teachings of their faith. So, we know that the product we offer transforms lives, and every single employee at our company is passionate about that.

We love knowing that our clients will im-

prove their families’ stability by buying a home.

We know this investment will improve their financial situation as well. And we know that all of this will allow them to open a cascading series of doors, beginning with education, for their descendants for generations to come.

In order to provide outstanding communication to customers, the kind that makes them feel informed and treasured, and the kind that makes them seek out further engagement, you have to truly care. Authenticity is essential.

#2: KNOW THEM

You also have to understand them. Our clientele is extremely diverse, representing a wide range of ages and backgrounds, including native-born Americans and first- generation immigrants. To serve such an eclectic community, we need to be especially mindful of cultural nuances. One way we do this is by staffing a very diversified team who can communicate in nearly 18 different languages.

Understanding consumers of different ages is just as essential. Marketers do this best when we are also consumers of the content. This takes understanding beyond something conceptual, to truly understanding why a message or a channel resonates with the culture. We not only need to see ethnically and racially diverse faces in leadership roles in the industry, but we need age diversity as well.

Part of understanding your market is understanding how they interact with technology so you can communicate with them; and, better yet, capture their engagement.

According to the University of Southern California, about half of millennials, for example, are highly engaged online. Half of that group, in turn, one-quarter of millennials, are “digital socialites.” Speak their language and they will respond in spades. Not only that, but all of their friends will see their engagement, turning them into ambassadors for your brand. The rest of that half are “media junkies.” Even mor tech savvy, they’re looking for high-quality online

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RE ACHING MILLENIALS IN A NICHE MARKET

products to teach them about our brand. Highquality video and interactive web features are not a luxury; they are a necessity. These are the standards I look for and younger homebuyers expect no less.

#3: COMMUNICATE THROUGH CUTTING-EDGE TECHNOLOGY

Understanding our customers has enabled us to meet their needs in kind.

One reason our customers come back to us and pass along referrals is because our transparent process makes home financing so much simpler and less stressful than it was when we bought our first home.

In the age of convenience, customers expect seamless and cohesive communication in THEIR preferred channel, whether they’re on social media, email, website chat, text, etc. It is all about perfection of the Omni channel.

Our online dashboard allows customers to know where they are throughout the process, along with what to expect next and what’s needed from them at any point in time. They can access this information any time they want, day or night. No more frustrating quagmires and unpleasant surprises. In fact, if they would like, they can conduct most of their business with us online, from pre-qualification to submitting documentation.

Timely communication will likely lead to more automation, chat bots, and use of AI. But the human touch factor is still critical for customers who are making one of the largest purchase decisions of their lifetime. So, we combine cuttingedge technology with in- person accessibility to answer questions and provide personalized assistance. This combination allows us to meet the needs of our full range of customers.

Customers want authentic relationships and at the same time they aren’t willing to wait.

Those authentic relationships and timely communication have to be part of the initial marketing outreach, the home financing journey, and beyond closing. This requires a comprehensive and forward-looking strategy on our marketing side, sales side, and technology teams.

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LAST THOUGHTS

Marketing is a complex and challenging puzzle, and many factors are required for an effective effort and a successful campaign. Just a few of those points include extensive research; evaluating data and analytics; studying trends; and, learning all about your target audiences.

With technology evolving, the customer’s expectations are also always evolving and the “Amazon” experience of immediate response and a digital journey has become standard.

Add additional components that surface when catering to a niche demographic, and your task at hand becomes monumentally more challenging.

Things are evolving faster than they ever did before, which is very exciting. As trends evolve, so do our customer journey and marketing efforts to younger generations interested in home financing. Our goal is to constantly, unequivocally provide the best exceptional services, resources, and product for anyone interested in working with us for their home financing.

Customers are not just business transactions; they are relationships we’re building.

When we work with a client, our efforts are achieved through the customer’s lens, and it’s imperative that we feel the transaction as though it’s our own, each and every one.

Our goal, in the end, is to build and establish lifelong relationships with our customers.

Not only are we supporting homeownership, we are building communities. We don’t want to only serve our customers with this current transaction exclusively, but we want to be there for their refinances, their friends’ home purchases, and their children as well. We want to be their choice for life.

Laila Khan is the assistance vice president of marketing and communications Guidance Residential. Her emphasis on the customer journey and marketing strategies have directly impacted her company’s visibility and brand awareness, generating more leads, and building partnerships.

Laila lives in Virginia with her husband and three children.

Connect with Laila on LinkedIn or email her at Laila.Khan@ guidanceresidential.com

MORTGAGE WOMEN MAGAZINE • MARCH/APRIL 2020

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#NEX T WINTER20

NEXT WINTER 2020 BACK IN DALL AS!

By Leora Ruzin, CMB

Make no mistake about it- there is nothing “little� about NEXT. While this boutique conference may seem small by just looking at attendance size (which is intentional, by the way), creators Jeri Yoshida and Molly Dowdy have consistently showcased a level of talent, content and substance that is normally reserved for some of the largest industry events, and NEXT Winter 2020 was no different.

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#NE X T WINTER20

After a brief detour in Chicago for #NEXTSummer19, Jeri and Molly brought this semiannual event back to the great State of Texas, at the Ritz-Carlton in downtown Dallas. It initially was the intent for the conference to return to the Hotel ZaZa, which hosted the conference last winter, but NEXT outgrew its humble beginnings and needed a bigger space. While the RitzCarlton offered the additional space needed to allow for more impactful content, the conference still displayed the little details that have made it such a unique experience. From the elaborate bouquets in the lobby, to the mini margaritas offered upon check-in, it is clear that comfort was top of mind. This level of comfort truly allowed attendees to become fully immersed in the content provided by some of the best women (and men!) the mortgage industry has to offer.

While NEXT is developed with the female mortgage executive in mind, attendance has evolved to include women at various stages of their career, and what has been even more exciting is seeing an increase in attendance by males, most of whom attend to provide support to their female counter-

parts. What has not changed, however, is the purpose-driven suppression of attendance to ensure the event still has the intimate feel that is so important to Jeri and Molly. Nearly 300 participants were actively engaged in conversations with each other during breaks (most often with a glass of wine or champagne in hand), but not once did it feel crowded or too loud. It is the kind of atmosphere that lends itself to honest and fulfilling engagement, which is rare to find at a conference.

A new addition to the lineup at NEXT was a session called

“20 Minute Mentor”, where attendees got to hear amazing tips from highly respected women, such as Laura Escobar, President of Eagle Home Mortgage, and Tawn Kelley, President of Taylor Morrison Home Mortgage. In these power-packed sessions, attendees were given an insight into the lives of these women, their “why”, while learning actionable tools that can be immediately adopted in the workplace. One such tool was a concept that Tawn shared, called “soft power”. This power is defined as “the ability to attract and co-opt, rather coerce”, where preferred

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#NEX T WINTER20

outcomes can be achieved by attraction and appeal rather than by force or coercion. A term originally coined by Joseph Nye in the 1980’s as a means to success in world politics after the end of the Cold War, the concept can be adapted to virtually any relationship construct. This concept resonated with NEXT attendees, which really speaks to the a relatively new shift in culture in an industry that is known for lacking empathy.

In nearly every conference out there, the format is usually the same; All of the vendors are shoved in a huge, cramped expo hall, with attendees mindlessly strolling up and down the aisles, grabbing their free swag, while actively avoiding eye-contact with the vendor. What you won’t find at NEXT is this old and archaic setup. Instead, vendors are given face time with attendees in the form of “tech showcases”. During these showcases, vendors are given an opportunity to provide attendees with a live look at their tech in a demo environment on the big stage, while answering questions from attendees. This format provides vendors with the ability to cast a much wider net with their intended audience right in front of them, and attendees can see the tech without having to spend valuable time roaming the endless aisles of the expo hall.

A staple at NEXT has always been the charity cocktail and networking party, held at the end of first day. During this event, attendees purchase raffle tickets for a chance to win a variety of donated items, with all of the proceeds from the sales going 18

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#NE X T WINTER20

to a local charity that is femalecentric. This year, it was Girls Inc of Tarrant County, the Dallas chapter of a non-profit organization that focuses on giving girls the tools that encourage health, education, career readiness and independence.

Through this partnership, NEXT charity events have helped raise thousands of dollars for Girls Inc, not only in Texas but also in Chicago.

What has never changed in the three years NEXT has been in existence is the feeling of closeness and collaboration amongst all who attend. More than just a conference, NEXT truly is a platform where women are given an opportunity to expand their network, share their knowledge and support, while building lasting friendships and partnerships.

As Jeri stated, “#NEXTWINTER20 was the best NEXT yet.

We got an overwhelmingly positive response on some great new features, and we heard over

and over that the networking and content has gotten even better.

Lenders love the new executive roundtables, vendors love that so many top decision makers are there to network and learn about their tech, and everyone is saying that content like the 20 Minute Mentor series is beyond anything they’ve experienced in this industry. We’re thrilled that NEXT has become known as the place where lender VPs and Csuite executives are more than happy to provide the intel and connections you can’t find anywhere else in our industry.”

Molly added, “We couldn’t be happier with the success of #NEXTWINTER20. It is so fulfilling to be in a room packed with seriously accomplished executives, each maximizing opportunities not only for herself, but also for her fellow attendees. That is what happened for two straight days at #NEXTWINTER20. NEXT attendees have always created a uniquely powerful and help-

ful networking environment at NEXT events, so we shouldn’t be surprised, but at #NEXTWINTER20 our attendees skyrocketed the event’s collaboration and networking to an entirely new level. It is so gratifying, so inspiring, and so humbling to be a part of this much needed network, and to know that hundreds of our industry’s most brilliant and talented executives stepped forward to created it because they know how much it’s needed.”

NEXT returns to Dallas in August for #NEXTSummer20, which expects to be bigger and better than ever, while retaining the level of intimacy and conscience collaboration that attendees have come to expect from Jeri and Molly. One thing is certain; their commitment to women in the mortgage industry is as big as their hearts and smiles, and there is no doubt their impact will continue to grow.

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T H E L A R G E R T H E G R O U P, T H E L O U D E R T H E V O I C E

THE THE THE THE

20

L ARGER GROUP, LOUDER VOICE!

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BY A LD E N K N OW LTO N

T H E L A R G E R T H E G R O U P, T H E L O U D E R T H E V O I C E

A

s the associate vice president of Political Affairs for the Mortgage Bankers Association (MBA), I oversee the PAC (MORPAC) and Grassroots Advocacy (Mortgage Action Alliance) programs of the association. I also lead the development and execution of an over $2 million per cycle fundraising and federal disbursement plan, direction of all grassroots activities of the 22,500-member network, including industry “Calls to Action,” and management of the annual National Advocacy Conference in Washington, D.C. That’s just my job description. My most significant duty is to engage more real estate finance industry professionals in the legislative and political processes and grow the industry’s voice in Washington, D.C. and state capitals nationwide.

I got my start in political advocacy almost by accident. I took a quiz in high school, assuming my dad and I were of the same political ideology and could not have been more skewed. My initial assumption and the actual results fascinated me, and as a history major, I have often found it far more interesting to study and learn why and how peoples’ views on certain issues change over time, rather than a simple recitation of dates/events to connect. Politics, then, for me was a natural fit.

I came to Washington, D.C. in the summer of 2008 with an unpaid political internship at a firm that specialized in fundraising and strategy for members of the House of Representatives. Given their two-year election cycles, it became quickly apparent to me just how often these members had to spend fundraising because of how frequently they came over for “call time,” where they “dial for dollars” in never-ending lists of potential donors, PAC and individual.

This internship transitioned into a full-time job for the next five years and 4 election cycles, providing me with a unique understanding of the perpetual balancing act required for elected officials to serve constituents, shape and deliver the message, raise the funds necessary to win the campaign to stay in office, and govern effectively.

I left there to work in a more non-partisan role at

the National Rural Electric Cooperative Association, where I managed the PAC fundraising efforts on behalf of 35,000 individual contributors giving an average of $59 per year, with over 11,000 donors opting to contribute via their electric bill every month. When the opportunity at the MBA came up, I jumped at the chance to represent those entities that are financing the dream of homeownership for millions of Americans.

Political advocacy has long been a passion of mine. I’m THAT friend and family member who sends reminders about upcoming election dates and details, such as registration information, polling location/times, etc. While I certainly advocate for specific candidates, my goal is always increased participation in the process, regardless of political affiliation. It is often frustrating to observe a “high turnout” election barely skirt above 60 percent of the eligible voting population. It reminds me of an oft-cited quotation credited, though not confirmed,

by Thomas Jefferson, "We in America do not have government by the majority. We have government by the majority who participate." That sentiment undergirds everything I do at the MBA on behalf of the industry. And, it’s why we need more women to engage with broader advocacy efforts that benefit the entire real estate finance industry.

Representation is important and can have profound political and policy implications. Women still make up the majority of our electorate, and the 2018 midterm elections brought us a now-record number of women serving in the 116th Congress with nearly 130 women serving in the House and Senate. Voters in that “year of the woman” brought us many firsts in Congress: • Senators Marsha Blackburn (R-TN) and Kyrsten Sinema (D-AZ) are the first female Senators to represent their respective states in the U.S. Senate.

•

The Federal Election Commission (FEC) ruled that campaign funds could be used for childcare to accommodate an influx of moms running for office.

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T H E L A R G E R T H E G R O U P, T H E L O U D E R T H E V O I C E

•

The Senate changed its rules to allow Senator Tammy Duckworth (D-IL), who became the first Senator to give birth while in office, to bring her infant with her on the floor during votes.

As professionals in the real estate industry, we all operate in the political arena, whether it be by choice or by default. From GSE reform or statewide rent control, what happens in Washington, D.C. or your state capital affects us all in some way.

Unfortunately, for many of our peers and colleagues, political advocacy is often an afterthought. After all, the MBA already has government relations staff working to represent the real estate finance industry. Isn’t that enough, you ask?

No! What many do not realize is that we need to be our own advocates, too.

I appreciate that the time hard-working real estate finance professionals have available is limited, and taking the time to advocate might seem like time you don’t have to spend. I completely understand. In an ideal world, our elected officials would embrace the fundamental mission of our industry and lead, not stymie efforts to streamline regulations and expand access to affordable mortgages for all Americans.

Unfortunately, as you know all too well, that is not the world we live in. The reality of the political landscape is that doing your job to the highest ethical and professional standards is not enough.

In a vibrant representative democracy like the one in which we live, your voice is what matters to the elected officials whom we need to reach and speaking up is the only way we can truly influence action by decisionmakers.

The good news is that the MBA has multiple programs to help you become an industry advocate.

The Mortgage Action Alliance (MAA) is a free, non-partisan and the only national grassroots advocacy network that represents the entire real estate finance industry. MAA has nearly 23,000 active members nationwide but only 48 percent of them are women.

Even with a small fraction of industry professionals behind us, we can combat harmful legisla-

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tion before most of our colleagues are even aware that a threat existed. Imagine what we could do with an even bigger voice.

Members of Congress and your local officials are inundated by competing voices in Washington and in your state capital every day. However, the people they really want to hear from are you, their constituents, and in an important election year, potential voters.

It’s so important for policymakers to know what you do locally to help families buy their first homes or refinance their mortgages, how you create rental housing or help finance the buildings where your neighbors work or shop.

Active member engagement in the MBA Advocacy programs is the lifeblood of our lobbying efforts, as you add a name, face, and personal story to complex issues, making them relatable to elected officials with little background or education in our industry.

The future of our industry will be directly impacted by the outcome of the upcoming 2020 elections, and it has never been more critical that we collectively remain engaged on all fronts.

Lend your voice to our efforts. Bring your expertise and experiences to the table. Make an industry impact today: •

Join MAA

•

Run a MAA enrollment campaign at your company

•

Identify yourself as a grasstops advocate

•

Register for NAC The larger the group, the louder the voice!

Alden Knowlton currently serves as the associate vice president of political affairs at the Mortgage Bankers Association (MBA) where she oversees the PAC (MORPAC) and Grassroots Advocacy (Mortgage Action Alliance) programs of the association, direction of all grassroots activities of the 27,000 member network, including industry “Calls to Action,” and management of the annual National Advocacy Conference in Washington, D.C. She currently resides in Washington, DC, and can be contacted at aknowlton@mba.org.

STRONGER TOGETHER Tem Schimley QLMS Account Executive

Erika Araujo Executive Assistant NestMade Mortgage Monrovia, CA

Call (888) 762-5035 QLMortgageServices.com/StrongerTogether Equal Housing Lender. Licensed in all 50 states. NMLS #3030 MORTGAGE WOMEN MAGAZINE • MARCH/APRIL 2020

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MOVERS

s r e k & Sha

Wells Fargo Names Muneera Carr as Controller

Jana Ledbetter Joins MutualBank as Mortgage Lender in Michigan and Indiana

Wells Fargo announced that Muneera Carr joined the company as controller, effec“Helping people obtain the American dream has always been my passion. tive January 6, 2020.

Financial education is key, giving my clients the tools to succeed in their “Muneera brings to financial life,” says mortgage lending veteran, Jana Ledbetter. Given her 20our Controllers team year tenure in the lending industry, Jana is familiar with all segments of the deep knowledge loan process – from application to closing and beyond. Educating her clients and expertise that will help drive our ensures they are prepared and informed to make the best housing decisions. continued transformation,” said John She says, “I grew up in this business, driven by helping people obtain their Shrewsberry, CFO. “She will be a dream of purchasing a home or to financially better themselves. I get to do what tremendous and valued addition to I love; I am very passionate about my work.”

Wells Fargo.”

Jana joined the MutualBank lending team in the summer of 2019, working at the As controller, she will manage New Buffalo, Michigan office. She also assists clients in Beverly Shores, LaPorte, corporate tax, accounting and reMichigan City, and Valparaiso in Indiana. porting, as well as controllership activities such as financial controls and oversight policies and processes for the company’s business groups and enterprise functions.

Prior to joining Wells Fargo, Muneera was chief financial officer for Comerica., which she joined in 2010. She has also worked in the Office of the Chief Accountant at the LBA Ware has brought on Silicon Valley talent Veronica Mahler as business analyst.

United States Securities She was hired to support the spring release of LBA Ware’s turnkey business intelligence and Exchange Commission platform, LimeGear, by supporting post-implementation client experience in partnership and for Bank of America, with LBA Ware’s client success team.

SunTrust, and Pricewater“I am passionate about helping customers accomplish their business goals and maxihouseCoopers. She holds mize the value they obtain from the tools and services in which they have invested,” said a Bachelor of Business Veronica.

“LBA Ware’s commitment to driving lender performance is highly compatible Administration from the with my professional values.”

University of Texas and is a certified public accountant.

LBA Ware Taps Silicon Valley Talent Veronica Mahler to Roll Out LimeGear BI Platform

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Columbia Bank Expands Executive Team Following Appointment Of New CEO Nicole Sherman has been appointed to the Operating Committee as Executive Vice President, Director of Retail Banking and Digital Integration. In her new role, Nicole will lead Columbia’s nearly 150-branch retail organization at Columbia Bank. Her responsibilities include oversight of retail branches as well as the utilization of new digital services introduced to meet the needs of businesses and families throughout the Northwest. She will also be responsible for extending the NeighborHub branch concept introduced in 2018, which blends technology and digital tools with knowledgeable bankers, across the branch network. She joined Columbia in 2011, and brings more than 25 years of experience in banking to her new role. She has also served on the faculty of Pacific Coast Banking School since 2003. Prior to her appointment, she served as Senior Vice President, Greater Puget Sound Market Region Manager.

Rhona Kaninau Retires after 34 years at Guild Mortgage

After 34 years at Guild Mortgage, Rhona Kaninau, Senior Vice President, Loan Administration, Partner retired in December 2019.

Rhona joined the company in 1985 and most recently was responsible for the overall operations of loan administration, managing bulk acquisition and sale of servicing, as well as portfolio retention strategies. Rhona was the project coordinator in the design and implementation of an interactive voice response system and streamlined refinance program to increase portfolio retention levels.

Wendy Strawn has joined the servicing department of Mid America MortShe was able to adjust to the gage. Wendy will lead the department as Executive Managing Director of needs of an ever-changing portfolio Servicing. and maintain high service levels Since bringing our servicing in-house in late 2019, we’ve worked continuously and low costs per loan. Her ability to strengthen the department,” said Mid America Owner and Chief Executive Ofto organize, problem-solve, and efficer, Jeff Bode. fectively execute company objecWendy has over 25 years of experience in customer service and cash operatives were vital to Guild. Prior to tions, including 12 years at Saxon Mortgage. She has proven success in process coming to Guild, she worked for cost reduction, payment processing and configuration, customer service and Bank of America in retail branch financial reporting. operations for 12 years. She is a member of the Mortgage Bankers Association Loan Administration Committee and the Diversity Task Force.

She deserves recognition for her mentoring of many Kris-Ann Carduff has joined Deephaven Mortgage, a full service, multi-channel, longwomen over the 34 years of term investor in the non-QM space, as wholesale – vice president of business developemployment. ment.

Kris-Ann has more than 20 years of mortgage experience and has played a central role in ABN AMRO’s Six Sigma process improvement initiative, showcasing industry best practices.

Non-QM lenders have realized tremendous growth over the last 24 months, but education challenges remain, the company says. Kris-Ann will continue to dispel the myths surrounding non-QM lending so that more creditworthy borrowers can obtain financing.

Mid America Mortgage Bolsters Servicing Department with the hiring of Wendy Strawn

Deephaven Mortgage Hires Kris-Ann Carduff as VP of Business Development for Wholesale

MORTGAGE WOMEN MAGAZINE • NOVERMBER/DECEMBER 2019

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#LE ADINGWOMEN

Vanessa MontaĂąez I basically love lending and real estate because, by using this vehicle of investing, one can build generational wealth by acquiring assets. I started my career right out of college and have never looked back or left the industry of lending.

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#LE ADINGWOMEN

I have had the privilege of helping many individuals and families obtain financing for mostly first time home buyers (FTHB) in Southern California while I was an originator. I did so well that I moved up the management ladder within a few years of successfully closing several thousands of loans. I was one of the youngest managers while working at Countrywide. My office was known for doing bond, FTHB programs, down payment assistance loans, and many others.

I since then have moved up the corporate ladder.

I also owned and operated my own broker shop for seven years until the mortgage meltdown happened in 2008. Lending is my passion because I am able to make a difference by building or implementing programs that are sound, safe, and offer great benefits to the consumer. I ensure we are representing all communities we serve including diverse and low- to moderate-income neighborhoods. The diverse segments are extremely important on so many levels.

Additionally, I have the opportunity to travel in the U.S. and share my knowledge, representing U.S. Bank and the organizations I belong to, by speaking to and educating lenders, realtors, affiliates, or consumers.

I am also an avid reader and learner. I never stop learning in our industry to see what is currently happening:. Trends, demographics, rates, programs, and industry related topics. I decided to go back to school and earn my doctoral degree in executive leadership because I felt it was a calling after the economic recession of 2008. It stemmed from unethical leadership at the core. So, I am at the end of my journey working on my dissertation. It is a gender study focusing on “How do executive women in the finance industry reflect on the role of social capital in their career advancement?”

I am planning to graduate May 2, 2020 with honors.

I am active in my community and industry because I am a firm believer of paying it forward for others. I am here to empower and educate others on finances, lending, leadership, real estate, investing, and many other topics. I have been active and engaged in several trade organizations locally and nationally throughout the years. I started the Minority Mortgage Bankers of America (NAMMBA) Los Angeles Chapter because I wanted to bring other like minded professionals to engage in the community and have more women and minorities in the industry. I love the mission statement of the organization and the founder, who has a heart of gold. I also am part of the Women in the Housing and Real Estate Ecosystem (NAWRB)

nationally and am an advisory board member to a non-profit called the Missouri Housing Development Commission (MHDC).

When I was approached by Leora Ruzin to be in Mortgage Women Magazine, she posed one simple question to me. “Why? What is the single driving force behind everything you do?”

This instantly made me think of the book by Simon Sinek called “Start with Why” because I am an avid reader who continually loves to learn and grow.

And I resonate with author’s quote, “Knowing your WHY is not only the way to be successful, but is the only way to maintain a lasting success and have a greater blend of innovation and flexibility.”

I completely agree with the message of the book. My “why” is deeply held in the belief of the American dream of homeownership. Being a homeowner creates generational wealth andcommunities and provides a sense of safety and belonging. Our children are able to thrive with stability. I grew up with a sense of stability when my parents purchased our first home when I was twelve years old. My father then bought more homes throughout my youth by buying the diamond in the rough and converting the home into a gem. I grew to love real estate.

Once I graduated from Pepperdine University, I was recruited in residential lending and thrived. My why was clear: Assisting others with the American Dream of Homeownership.

I leave you with this quote from Michelle Obama’s book, Becoming, which also is part of my why, “For me becoming isn’t about arriving somewhere or achieving a certain aim. I see it instead as forward motion, a means of evolving a want to reach continuously toward a better self. The journey doesn’t end.” My why is about assisting others' dreams as I continuously evolve and grow in my journey.

Vanessa has been in residential lending for over 24 years.

She is a vice president in sales and business development for the national strategic markets at US Bank for the West and Midwest markets. Vanessa currently serves as a Board of Director for NAWRB (National Association of Women in Real Estate Businesses), Advisory Board Member to Montebello Housing Development Corporation and is President for NAMMBA LA Chapter (National Association of Minorities in Mortgage Business of America). She also serves as advisory board member for VAREP LA and WIP Nonprofit. Vanessa can be reached at vanessa@vanessamontanez.com.

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s r e z a l b l Trai

T R A I L B L A Z E R S : B L A Z I N G A PAT H . . . R A I S I N G T H E B A R

B L A ZI N G A PATH ...

R A IS I N G TH E BA R

BY A N N E M A R I A A LLE N

As an empty nester, I look forward to many new opportunities. For starters, I just discovered RV-ing and plan to get out there more with my jeep in tow. Personal success, as I define it, is based on who I have become, not where I am. I can take that anywhere. It has been a long road of personal growth to become who I am today. It’s a continual journey. Just like in our businesses, we try to keep getting better every day. There is always more to do and learn. I am thankful that I’ve learned so much over the years, and that it is the point from which I can grow going forward.

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T R A I L B L A Z E R S : B L A Z I N G A PAT H . . . R A I S I N G T H E B A R

If I had to pinpoint one of my most important lessons, it would be that external “things” don’t make you happy; happiness comes from within. I also practice balance. For many years, I worked non-stop building TCG and neglected my personal and family needs. Too often, I wasn’t completely present for my kids. It was all work: Get through one very long workday and then wake up the next day and do it all over again. It was unsustainable long term, and it started to take a toll on my health and happiness. I have learned to take things slower, breathe and reflect, be present and kind to others, and take time for myself. I work on stopping and smelling the roses along the way.

Why did I start The Compliance Group? I’ve always had an entrepreneurial spirit, even as a child, probably going back to 3rd grade.

Even though we started with very little, entrepreneurship ran in my family. We have several entrepreneurs on my mom’s side, and my dad developed a knack for making money. I always dreamed of having my own business.

I didn’t know what it would be. After about ten years in mortgage lending operations and then moving to compliance, I finally found where I truly belonged, and I was fascinated by figuring out “the whys” around regulations and risk in mortgage lending. Starting TCG was an accident. I was working as chief compliance officer for PSB Lending Corp. They decided to move to Texas. They offered me a chance to move, but I wanted to stay in Southern California. I decided to take a severance package and seek my dream compliance job.

While working for PSB Lending Corp., I noticed that so many lenders that were selling their loans to us had challenges with compliance; and, that is where I found the opportunity. While waiting for that “perfect” job, I did some consulting. I contacted the lenders that I knew, maintained my trade association memberships, and networked. The demand for my services was overwhelming. The phones

never stopped ringing and I was flooded with e-mails seeking my services. After 12 months of running my consultancy (TCG) as a sole proprietor, I incorporated and hired two full-time employees.

I discovered that forming a new company was like having a baby: There was no playbook. I learned by making mistakes. While I started TCG officially in 2001, the most trying time was from 2007 to 2009. My children were young, and I lost both of my parents, as the housing crisis hit. Most of our clients closed their doors overnight. I knew that I had to take drastic measures to survive. Clients left me with hefty bills when they went out of business, and I had to lay off staff and repay loans I had taken out to build the company. Looking back, I’m not sure how I got through it. Much of that time was a blur. I worked day and night to bring in business. I pioneered new compliance services and resolved daily that failure was NOT an option. My family depended on me, and I wasn’t about to file bankruptcy and walk away. I believed in my business and the services we offered. I knew that I had to be patient and weather the storm.

There is a saying that I love. It’s so funny, “You don’t know what you don’t know until you know it.” It’s so true. I have learned so much over the past 20 years about running a company. TCG never sought outside capital, so our growth was slower than if we had investors. I never again wanted to experience the losses I felt during the housing crisis. I realized that I didn’t have to be the smartest person in the room, but I needed to surround myself with intelligent people. I hired the best people I could, people that were WAY smarter than me. I tapped into my SAGE group and the WPO organization for CEO growth and guidance. That’s when the company began to grow more rapidly.

In the past five years, TCG has grown by 30 – 50 percent year over year. We have more than

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T R A I L B L A Z E R S : B L A Z I N G A PAT H . . . R A I S I N G T H E B A R

tripled in size. I credit that growth to the fantastic people that work for TCG. They share my dream and make it real. To them, I am forever grateful.

Our goal over the next five years is to continue our growth. TCG will adapt to market changes. In some ways, changing market conditions, including the results of elections, make TCG even more valuable. We plan to add products and services and continue to hire great people. Every member of our team believes in creating partnerships with customers rather than just being a vendor. It’s been our motto since TCG’s inception. Acquisitions may also be a play over the next several years. Moreover, technology is playing an important role, especially with new product offerings, we will be adding to our menu of services.

What will the future bring? Once an entrepreneur, always an entrepreneur. You can’t just have one company when you are a dreamer and creator. One realization I made over the past two decades is how hard it is for a woman to start and run a company. Of course, men work hard too; but I see this from my perspective as a woman.

I see the demands of starting a company, caring for children while building the company, being a wife, and trying to find time to take care of yourself. Mortgage lending is male-dominated, but when building TCG I never thought to myself, “I’m a woman so it will be harder for me.” How could I know for sure? I do know that I never considered myself a minority in the workforce. I found challenges in having a career while raising a family and being a wife. I still found myself in the more traditional roles of marriage.

After getting the opportunity to travel extensively, I realized the importance of work-life balance. After my 20-year marriage ended, I started traveling to heal and find myself. My friend from high school suffered the loss of a child and went with me to heal in her way. We realized that many women, especially those in corporate leadership roles, don’t take the time to get away and breathe. The two of us formed a company, High Mountain Journeys, as a place for women to go for travel. Since many women don’t like traveling by themselves, we created High Mountain Journeys as a destination for executive women

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to experience adventure, decompress, and breathe. It’s also a place for them to be with likeminded women. During these journeys women will experience team building, healthy eating, and traveling to amazing destinations all over the world. We are still building the company and hope to have our first destination journey by November 2020 in Sedona, Arizona.

I have a ‘million’ ideas for solutions for the mortgage industry, but not enough time. For the past ten years, I have been working on technology to assist companies with tracking licensing in the financial services industry. This technology will eventually expand outside of the financial services industry. I formed a company with a business partner called License Management Systems (LMS) where we developed a technology platform, “LicenseTracker.” It has taken a long time to develop, and we are excited that it will add tremendous value to the industry. LicenseTracker is a CRM for licensing. For the first ten years of TCG, we performed nationwide licensing services. The licensing process is daunting, and for many years it was mostly manual. We developed the technology to make this process much easier for a company’s licensing department. Our challenge has been to find programmers that understand what you need a system to do. After several attempts and trials with programmers, we found the perfect marriage. We are very excited to launch LicenseTracker in March of 2020.

While I do not envision any other possible business interests at the moment, my mind never stops, so anything is possible. I find brainstorming exhilarating, and I love mentoring and talking with people about their business ideas.

No matter where my business interests take me, I need to leave room for more travel!

Annemaria Allen is the founder and CEO of The Compliance Group, a 19 year-old firm focused on three core services in mortgage banking: Quality control as an outsource solution; compliance, both file level reviews and broader compliance audit work; and, servicing quality control, assuring agency servicing standards are adhered to. She currently sits on the board of directors of the California MBA and is a proud member of the Women Presidents’ Organization. She can be reached at annemaria@thecompliancegroup.net.

She’s in the C-Suite!

The C-Suite

"Everything we do makes a difference an helping people get d in their homes and stay in their homes is very meaningful work."

The MORTGAGE BAN

KER Magazine

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January 2020

Visit and Meet Mary Ann THE

Advancing Knowledge in Mortgage Banking.

BANKER

MORTGAGE WOMEN MAGAZINE • MARCH/APRIL 2020

MAGAZINE

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COACH'S CORNER

COACH'S CORNER

By Christine Beckwith

THE OTHER MWM: MILLENNIALS WANTING MORTGAGES! THE QUEST FOR MILLENNIAL MARKET SHARE SO, THE STORY GOES… The average age of a mortgage loan originator in the mortgage industry remains around 50 years old, which is a reduction from 2018 statistics that report 53 as the average age. This means most professionals serving up mortgages are far from the Millennial mindset. Yes, for “us” to understand what the new generation of homebuyer wants, we first need to examine who they are and how they operate. Mortgage Women Magazine wants to help create some clear insight on how to capture this market share and to do so in a way that will convert leads.

Let’s start from a place of understanding the Millennial. In my online research on this topic, I went out to see what was generally evident, and I found an amazing article by Placester and writer Carolyn Berk.

Known for their statistics, they offered a lot of valuable information I will be sharing here for all of us to consider.

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COACH'S CORNER

THE MILLENNIAL MAKE UP! •

34 percent of homebuyers in 2019 are from this generation. So, their time has come, and they are the largest share of any other generation of buyers. Millennials are 36 years or younger in 2020, so that number will continue to grow.

• Traditional marketing tactics will not work with this group. They come from a digital world.

• 66 percent of this youngest group of buyers

are buying their very first home. They need and want complete hand holding and as much education as can be offered.

• When polled, they say they do want to work with a realtor. So, this bodes well for us helping our referral partners convert this type of buyer.

• Single female buyers make up the 2nd highest buying group in this generation, ahead of single men and unmarried couples. So, a great target is women in this category.

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COACH'S CORNER

THEY WANT EDUCATION! • There has never been a more important time then to plan and place many first time homebuyers classes in your marketing repertoire.

• Your empty home buyer workshops are not targeting the right people.

•

Think about where your Millennial audience is and target that group for your seminars to fill seats.

• Traditional marketing for these events will not work.

• Affinity marketing plays a strong role here.

Target 20 companies that employ Millennials and offer them in-office workshops.

•

Go to where the Millennials are!

•

Due to their digital mindset, you are far more likely to get them to watch a pre-recorded video and/or to attend a webinar that you hold on homebuyer education.

THEY ARE HELPING US FLIP THE SCRIPT WITH REALTORS!

So, with all these statistics in mind, it’s a great opportunity to also assist them with finding a realtor. We know that grabbing qualified buyers and bringing those leads to realtors can change the entire game for an MLO to realtor relationships by helping mortgage companies be the foundation of incredible sources of business before realtors are even involved. This changes everything in the way of strengthening existing relationships with realtor partners and creating new ones!

THE CASH CONUNDRUM!

IMAGE MATTERS!

• The primary source of Millennial homebuying down payment sources comes from “saving up over time,” and the second to that is “receiving a gift from a family member” or “obtaining a loan from a family member.” So, what does this part tell us about how we approach these buyers for assisting in the mortgage process?

• Staging should be a vital piece in every realtor presentation for homes they want to appeal to this group.

o We should plan to work with people in this category long term while they save. Incubation period will be long, if you catch this buyer as they are starting to think to buy. The great news is they are the largest part of our homebuying pool; so, if you load up these kinds of shoppers, then you are going to have an eventual windfall.

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o We should help them solve to this problem in our marketing by offering and advertising gift abilities. “We can help you to solve your down payment with guidance and education on how to buy your first home”. For many, this part is so intimidating it stalls the starting process.

Your marketing nudge could be the difference.

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Other statistics from Zillow tell us that “appearances matter to Millennials.” In a digital world where pictures and images are so vital to their interaction, they care about how homes look. So, this translates to the following tips:

• Home improvements for sellers should include curb-side appeal and main living areas like kitchens, bathrooms and family areas.

• Homes that have big entertainment spaces like finished basements, media rooms, and bonus features such as wine cellars or finished outdoor living spaces matter.

COACH'S CORNER

Homes with the above features are far more appealing to Millennials and those spaces should be featured in the advertisements of these properties sales.

Image and influence will sell these homes and attract Millennial buyers! In fact, in January 2019, I had the pleasure of moderating Gary Vaynerchuk’s “Real Estate Influence” panel at the Miami Garden Stadium. On that panel was John C. Tolbert representing Four Seasons Hotels. He had just overseen the opening of their new Belize hotel, and he explained that their multimillion-dollar campaign was centered on a “lifestyle” campaign. So, realtors and mortgage companies that help feature “lifestyle” ads to this group will attract both buyers and sell more homes with this marketing approach.

SHOP TIL THEY DROP!

Millennials like to shop, so mortgage originators need to add an ongoing sales lecture to assist their realtors in getting loyalty out of these new shoppers. Every mortgage rep should explain the following to a millennial buyer: -

Stick with the realtor you start with

- They can show you any home despite the advertisement realtor on the flyer, ad, or digital commercial -

You stand to have a better experience with a sole realtor representing you

-

You don’t pay for the realtor, so allow them to bring you to do the heavy lifting on someone else’s dime

- The reason another realtor is shown on home ads you want to see is they represent the seller -

Your realtor has access to all listed homes

MOBILE MILLENNIALS…

Last but not least: Millennials want a mobile and digital experience.

There has never been a better time to of-

fer digital solutions to buyers than now. Fintech companies are growing and thriving. Many mortgage companies are evolving with digital classrooms and webinar-based education, but where else does mobility intersect with these kinds of buyers? The answers are endless. Companies that help these buyers stay mobile and provide solutions for starting and enduring the process will win market share. I would ask you, is your mortgage company evolving in this area?

A HAPPY ENDING!

The beautiful ending to this story is that for many years this group has been overpredicted as it relates to their contributions to the mortgage and real estate activity; and, as such, they’ve taken a bad rap for their contributions to our economy in this realm. However, this same group was growing up and watching the darkest moments of mortgage history when they were first becoming news reading adults. Their first introductions to our industry where one filled with fear and trust issues followed by an idea that we were not operating in a safe and sound manner. Time has healed these wounds and this perception. They are now overcoming those fears and can see the greatness that is ahead for them with homeownership.

Yes, the bright day has come and will continue by all predictions. For those mortgage companies that put a marketing focus on this, there will be market share to grab for all.

Bring on the Millennials we say, come one come all!

Christine Beckwith is a 30-year mortgage industry veteran who has broken many glass ceilings and blazed a trail for many female professional generations to come. She is a Mortgage News Network anchor and the president & COO of 20/20 Vision for Success Coaching.

This year she was featured in the 2018 Mortgage Professional America magazine as one of the top 75 women in the mortgage industry and named one of the “2018 Most connected Mortgage professionals in America” named by NMP magazine.

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ASK THE E XPERTS

CHERYL HAYES

SVP, marketing director, PrimeLending

Seen on a poster in a lender’s office: “Ensuring compliance is as easy as riding a bike. Except the bike is on fire. You are on fire. Everything is on fire. And you are in hell.”

And while most folks can chuckle in appreciation at that sentiment, compliance does often conjure up a sense of negativity: What you cannot do, what you should not do, what you must do. But in truth, any great company will tell you that managing compliance successfully is not only about risk mitigation it also builds trust with employees and customers, and helps the entire company run fast within safe rails, reaching new levels of success and production.

This month, I asked a terrific group of experts about their thoughts on compliance. Their fascinating insights ranged from data privacy to technology to culture. And I suspect their thoughts may have you looking at compliance in your own company just a little bit differently.

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The entire industry has been impacted by a continuous influx of new and evolving regulations affecting all phases of mortgage origination. To remain competitive, as well as compliant, mortgage companies must be able to adapt quickly and cost-effectively to these wide-ranging changes. At PrimeLending, we’ve invested in and embraced cutting-edge technology, such as Blue Sage, our new loan origination system, that gives us the agility and control to not only respond rapidly to changing requirements, but also to streamline our workflows and improve efficiency. For instance, Blue Sage offers unmatched system flexibility that makes it faster and easier to rollout product updates, new features, or regulatory changes. Now, instead of diverting resources to reconfiguring processes or designing work-around solutions to remain compliant, our team can focus on developing new ways to simplify the mortgage experience for our customers and grow our business.

ASK THE E XPERTS

MARTY ALLRED

Chief compliance officer, American Pacific Mortgage Corporation The culture of compliance within our company is strong, largely in part because every employee in every department and location understands that they all play a role in compliance, directly or indirectly. We like to say that we have 2,200 people in compliance, because it does take a village, and compliance is such an integral part of our fabric and our long term success.

We also position compliance as a solution-oriented support function, not a hinderance, and we do our best to educate the “why” behind compliance rules.

This positive positioning is helpful to getting everyone on the same page of doing the right thing day in and day out. Within the industry, some regulatory changes have been positive for consumers; however, there remains lots of opportunity for clear, consistent compliance guidance, which would help level the playing field for all mortgage companies.

COLEEN BOGLE VP of Marketing, Draper and Kramer Mortgage Believe it or not, I love working with compliance teams! Industry reputation is incredibly important, and that’s one reason why I am a big rulefollower. One of the smartest things a marketer can do is to form a trusting relationship with the head of compliance at their organization. I have vast experience at mortgage lenders both large and small, and it’s crucial to work hand-in-hand with compliance to ensure the company is complying with RESPA, the Fair Housing Act, and other regulations that apply to marketing. I speak with our compliance manager daily, and we develop thoughtful strategies to fulfill our loan officers’ needs while remaining compliant. That constant communication and solution-driven mindset are some of the reasons why our loan officers stay here and why we pass our audits with flying colors!

DEIRDRE ROGERS

Marketing manager, Axia Home Loans While this industry (and many others) have sales and compliance teams seeing each other in adversarial roles, I have always thought of compliance as the “security blanket” to keep both sales and the company as a whole, safe. Here at Axia we have a compliance dream team, who is not only a real pleasure to work with, but also genuinely interested in helping our sales group succeed … safely.

JELAIRE GRILLO Customer relationship manager, Prosperity Home Mortgage, LLC No one likes compliance; just say the word and people cringe. I think it’s important to flip the script though. I can say from personal experience that I am more likely to go with a loan officer who has their compliance in place than a person who does not. I think we all want that credibility when we are making some of the biggest decisions of our life.

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ASK THE E XPERTS

WHITNEY BLESSINGTON

JESSICA MANNA

When I boil it down, I see compliance as a conduit for fairness. Our compliance team at Churchill Mortgage is amazing. They provide value to our company and our customers every day. They constantly make sure that our customers are being treated equally, which we believe is crucial. Our mission is to help customers find the best path to owning a home free and clear, regardless of their starting point. We believe that is the Real American Dream.

Making sure that we are treating customers equally on that path is paramount. In the industry at large, compliance demands that all lenders are operating on an even playing ground. Customers can have peace of mind that the industry has a system of checks and balances, which can put their minds at ease while beginning such a meaningful journey.

From ‘Meets’ to ‘Exceeds’. We all win, as people first and businesses second, when data privacy is strengthened. As a brand, the most vital job is to earn trust by “doing the right thing;” the proper use and storage of sensitive information is no exception. To comply, brands often need to redesign systems and integrations. What starts out as a regulatory requirement can become the impetus for data-based initiatives, a valuable store of data for risk, sales, service, and marketing, with innumerable benefits. Each new regulation should be looked as first an opportunity to “do the right thing” for consumers, and then as a way to meet customers’ needs in new and improved ways.

Chief marketing officer, Churchill Mortgage

SVP Enterprise Lead Generation, Fairway Independent Mortgage Corporation

So whether you have seen yourself as an advocate or adversary of some compliance efforts, you surely know the goal is to make the industry a better place. Compliance is about doing what is right for our customers, our teammates, our companies, and our industry. And when we start to understand the “why” behind compliance and all the good it brings, we can more deeply appreciate how compliance enables success each and every day.

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KASIA STEPHENSON

VP, director of marketing, Sierra Pacific Mortgage Compliance is the key to doing the right thing always, one of our core pillars at Sierra Pacific Mortgage. Our customers expect and trust that we are up-to-date and compliant in all ways, so they feel secure while they are making one of the most important decisions in their lifetime. Compliance keeps our reputation for integrity and therefore our business strong. Monthly calls to inform our loan originators makes them feel confident and supported in what they do, thus increasing their productivity, job satisfaction, and retention.

Let's be honest. Compliance may not be a fun topic for anyone in our industry, but when it is engrained in our core philosophy, it's not an unpleasant one either.

We accrue measurable benefits in every customer relationship, as well as in the long term because compliance is simply a natural way of doing business for us.

On that note, take a moment right now and send a quick email to someone on your compliance team, thanking them for the often “thank-less” work that they do to help YOU succeed!

Sue Woodard is the chief customer officer at Total Expert. She can be reached at sue.woodard@totalexpert.com.

C AUSE OF T HE MON T H National Ovarian Cancer Coalition http://ovarian.org/

W H AT IT I S

A grassroots organization that began in 1991 by a group of women from Boca Raton, FL who were ovarian cancer advocates and survivors. Their initial purpose was to provide support and guidance to those who are diagnosed, while raising awareness through early detection.

This is a cause that is very near and dear to the heart of our managing editor, Leora Ruzin, as she herself is an ovarian cancer survivor.

VISION

The mission of the NOCC is to save lives by fighting tirelessly to prevent and cure ovarian cancer and to improve the quality of life for Survivors.

WH AT TH E Y DO

Through national programs and local NOCC chapter initiatives, the NOCC's goal is to educate communities and increase awareness about the symptoms of ovarian cancer. The NOCC also provides information to assist newly diagnosed patients, hope to Survivors, and support to caregivers. The NOCC is also committed to the advancement of ovarian cancer research.

W H AT YOU C A N DO • Volunteer at your local chapter, or create a local chapter in your area • Spreading awareness through early detection- distributing early symptom cards at health fairs or posting sharable content on social media • Support community events, such as their signature event, the Run/Walk to Break the Silence on Ovarian Cancer

HOLISTIC WELLNESS

Spring Cleaning

h t l a e H r For You

BY C I N DY S M ITH

Spring cleaning is a thorough cleaning of our house or workspace, but it can also apply to our physical, emotional, and mental space. We all tend to accumulate things we no longer need or use, allowing clutter to creep in on us.

It can be little things that don’t seem to make a big difference, like files we never got around to putting away, a pile of jeans that no longer fit, and magazines we meant to read. But it can also include a few extra pounds that crept on over the holidays, a grudge we haven’t moved past, or a story you continue to replay in your memory that no longer serves you well. Over time, these little and big accumulations can have a significant impact on our health.

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HOLISTIC WELLNESS

Home and Workspace Spring Cleaning Spring cleaning our environment is a form of self-care and has important and surprising health benefits.

•

•

CLEANING IMPROVES THE IMMUNE SYSTEM. According to Marie Kondo, best-selling author of Life-Changing Magic of Tidying Up, many experts claim the pollution inside our homes can be worse than the air pollution outside. Cleaning clears our environment from dust, mildew, mold, and pet dander that can trigger allergies. The much anticipated and beautiful budding of trees and flowers bring enough allergy triggers without adding anything else to the mix.

CLEANING CAN HELP REDUCE STRESS. Although we might not be aware of it, clutter creates stress. Whether it is piles constantly reminding us of things we need to do or the frustration of digging through drawers trying to find the items we need, de-cluttering reduces the to-do lists and the stress it creates.

Cleaning can also be a great opportunity to clear your mind, contemplate a decision, or think through a project. Or, put on headphones and listen to your favorite music or podcast and give yourself a mental time out. Take this time to practice gratitude for each space, item, and memory stirred while cleaning.

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CLEANING SUPPORTS HEART HEALTH. Cleaning to the point of sweating and breathlessness can have the same benefits as light exercise like walking. Thirty minutes of vacuuming can burn up to 94 calories for women. That’s motivation to vacuum!

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CLEANING HELPS YOU SLEEP BETTER. Keeping your bedroom free from clutter helps shut down the mind and allows for deeper sleep. The National Sleep Foundation also found that 75 percent of those individuals polled sleep better on clean sheets with a fresh scent. Create a space where you can fully relax and get restful sleep.

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CLEANING HELPS INCREASE FOCUS. Stacks and clutter not only create places for dust to accumulate, they are also a distraction. By creating a cleaner more organized space, it allows your brain to focus better and be more productive.

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CLEANING IMPROVES YOUR MOOD. Let’s admit it, cleaning isn’t top of the list of fun things to do; however, it is extremely satisfying once it is done. A fresh smelling, de-cluttered home or work environment can boost mood and give us the motivation to tackle that project we have been wanting to get done.

MORTGAGE WOMEN MAGAZINE • NOVEMBER/DECEMBER 2019

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HOLISTIC WELLNESS

Physical Body Spring Cleaning For our physical body, there are many detox diets available. I covered this more extensively in the September issue, so if you would like to reread that article, click the link here: https://www. mortgagewomenmagazine.com/health-andwellness/10-steps-for-a-fall-detox/. For a quick recap, I recommend a natural, easy to follow cleansing through supporting our own natural detox system with the following: •

DRINK WATER – Water is the living element that flushes out toxins and gets rid of them.

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EAT WHOLE FOODS – Processed and fast foods leave behind unwanted and undigestible chemicals. By eating whole foods, it allows our body to get rid of the built-up clutter of unhealthy waste.

• EXERCISE – The skin and lungs are two of our primary detox organs. When we sweat, we get rid of toxins through the skin. And, breathing deeply during exercise gets rid of toxins through our lungs.

Mental and Emotional Spring Cleaning Detoxing negative emotions, memories, and thought patterns can be even more important to our health than any other form of detox because our thoughts and emotions give us the desire and determination to take care of our space and body. When we hold on to emotions, fears, experiences, and interactions with people, this tends to accumulate in our bodies and have detrimental effects on our physical and mental health. To get rid of negative emotions try a few of these suggestions:

• JOURNALING – It is a great outlet to literally empty out your mind and clean out the old matter through which we need to work. If setting aside time to journal each day seems overwhelming, start small with just a couple sentences before you go to bed about what you want to release that day.

• GRATITUDE – Focusing on what we are grateful for helps to reprogram our brain as we release the old negative thoughts. After writing a couple of sentences about what you want to release, write three things for which you are grateful. They can be simple things like sleep or clean sheets.

• BREATHING – Taking a few deep breaths throughout the day not only helps get rid of physical toxins, but it also helps reduce stress.

• MEDITATION – Spend a few minutes just being present in the moment. Notice your breath, notice the sounds around you, notice how you feel, notice your thoughts, and then let them float on by. Practicing mindfulness trains us to stay in the moment instead of focusing on the past.

• INTENTIONAL – Before you get out of bed every day, set your intention to stay present in every moment and find joy throughout the day.

Spring is a time of new beginnings, new life, and new adventure. Doing a deep clean of our living and work environments as well as our physical, mental, and emotional space prepares us for the new growth ahead. It is a perfect time to awaken to renewed energy and motivation to complete the goals we set for ourselves at the beginning of the year.

Cindy is a Certified Integrative Wellness Coach and personal trainer for professional women. She has been helping women achieve their health and fitness goals local and abroad for the past 15 years. For a free consultation, contact Cindy at cindy@whollydesigned.com.

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BOOK OF THE MONTH

BOOK OF T HE MON T H SUCCESSFUL WOMEN SPEAK DIFFERENTLY:

9 Habits that Build Confidence, Courage & Influence

BY VA LO R I E B U R TO N

It is well known that the most successful women ooze confidence, poise, conviction and grace, all while maintaining their unique identity For women, just getting a seat at the table can feel like an uphill battle, so we have to equip ourselves with every tool we can to increase our odds. Once we get that seat, those same tools will ensure we not only keep that seat, but to command the entire room. It is well known that the most successful women ooze confidence, poise, conviction and grace, all while maintaining their unique identity.

Valorie Burton, best-selling author and renowned speaker, has compiled a high-powered list of habits that guide women to speak differently. In this book, you will learn valuable tips on speaking, such as boosting your confidence by making simple tweaks to your every-day speak and increasing your influence by changing what you think and say in critical situations.

Valorie draws from her personal faith and experiences without coming across to the reader as preaching, and provides women with actionable tips to find their voice in any situation.

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COACH'S CORNER

COACH’S CORNER with Chris

tine Beck

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with

• Mindset • Brand • Cadence • Connect • Engage • Feed and nurture

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