National Mortgage Professional Magazine April 2019 by ambizmedia

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table of

N A T I O N A L

The Mortgage Godfather: Marketing, Marketing and More Marketing By Ralph LoVuolo Sr.

A P R I L

32 NMP Mortgage Professional of the Month: Eric Tishaw, Direct Path Coaching By Phil Hall

2 0 1 9

M O R T G

V O L U M

A SPECIAL FOCUS ON “SHARPENING YOUR POINT OF SALE”

Bringing Technology to the Point of Sale By Rick Grant ................52

Be Selective With Your Point of Sale Options By Eric Wiley ..........58

Configuration vs. Customization in Point of Sale Systems By Deborah Hill ..................................................................................62

Point of Sale Comparison Chart ......................................................64

FEATURES ARMCP Set to Launch New Site ........................................................6 You Need a Residual Income Strategy? By Tom Hutchens ..............8

The

th i w eck

36 The Beckwith Blog … Living a Life of “Success” By Christine Beckwith

The Elite Performer: Getting Better or Getting Bitter? By Andy W. Harris, CRMS ....................................................................8 Recruiting, Training and Mentoring Corner: Remembering the Real Reasons at the Point of Sale By Dave Hershman ..............10 Revised URLA Date Nears By Gavin T. Ales ....................................16 NAMB Perspective ............................................................................20 The Times They Are a Changin’ By Pam Marron..............................24 Compliance Matters: National Consumer Protection Week By Jonathan Foxx ..............................................................................30 Foolish Things Loan Officers Do By Brian Sacks ............................34 The NAPMW Report ..........................................................................42 MBA’s Mortgage Action Alliance: A Message From MAA Chairman Jeffrey C. Taylor......................................................44 NAMMBA Connect 2019 ..................................................................46

70 Living on Video By Paul Lucido

BrokerNATION: Nexa Mortgage: Brett Weiss By Andy W. Harris, CRMS ..................................................................50

V I S I T

Company

Web Site

O U R

Page

A D

ACC Mortgage .................................................. weapproveloans.com ....................................................25 Angel Oak Mortgage Solutions ............................ angeloakms.com ..............................................Back Cover Axos Bank ........................................................ axosbank.com/wmebroker ..............................................11 Brokers Compliance Group.................................. brokerscompliancegroup.com ..........................................55 CAMP .................................................................. thecampsite.org ..............................................................59 Capital One.......................................................... capital.one/financialinstitutions ..........................................9 Carrington Mortgage Services, LLC ...................... carringtoncorrespondent.com ..................................1 & 22

72 How to Manage Time Effectively as a Loan Officer By Tracy Marks

Citadel Servicing Corporation .............................. citadelservicing.com ......................................................61 DocMagic .......................................................... docmagic.com ..............................................................17 First National Bank of America............................ fnba.com/mortgagebrokers ..............................................5 Genworth Mortgage Insurance Corporation .......... pages.genworth.com/you ................................................19 Greenbox Loans, Inc........................................... greenboxloans.com ................................Inside Front Cover IMPAC Mortgage Corp......................................... premier.impacmortgage.com ..........................................31 Lykken On Lending ............................................ lykkenonlending.com ....................................................18

of contents

R T G A G E

U M E

1 1

P R O F E S S I O N A L

N U M B E R

COLUMNS

New to Market ..................................................................................12 News Flash: April 2019 ......................................................................14 Heard on the Street ..........................................................................28 Outstanding Places to Work ............................................................76 NMP Calendar of Events ..................................................................77 NMP Resource Registry....................................................................78

We are once again looking for the Most Connected Mortgage Professionals. These are individuals who have a large number of followers on Twitter or likes on Facebook or maybe have a very popular blog or video show. These individuals will be featured in our July 2019 edition, which has a special focus on Social Media.

A D V E R T I S E R S Company

Web Site

Page

MBS Highway .................................................... mbshighway.com/MNN ..................................................29 Mortgage News Network (MNN) .......................... mortgagenewsnetwork.com ....................................40 & 41 NAMB+ ............................................................ nambplus.com ..............................................................23 NAPMW ............................................................ napmw.org ............................................................27 & 60 NAWRB ............................................................ nawrb.com ....................................................................15 New American Funding ...................................... newamericanfunding.com ..............................................80 NRMLA.............................................................. nrmlaonline.org ............................................................18 Origination Pro.................................................. originationpro.com ........................................................63 Paramount Residential Mortgage Group, Inc. ...... prmg.net ................................................Inside Back Cover REMN................................................................ remnwholesale.com ......................................................13 Ridgewood ........................................................ ridgewoodbank.com ......................................................57 Ron Vaimberg International................................ recruitandlead.com ......................................................45 Sharestates........................................................ sharestates.com ..............................................................7

Go to http://nmpmag.com/mostconnected

APRIL 2019 Volume 11 • Number 4

FROM THE

publisher’s desk

Starting with the Point of Sale Some of the most successful Loan Officers in the business will tell you that the prospect enters 1220 Wantagh Avenue • Wantagh, NY 11793-2202 the buy zone long before the loan application is completed. Most people will carefully consider Phone: (516) 409-5555 • Fax: (516) 409-4600 their decision to buy a home or trade up for a new one. Then, the vast majority will begin to do Web site: NationalMortgageProfessional.com online research and even visit with a real estate agent before they are ready to be pre-qualified STAFF Eric C. Peck Joel M. Berman for a new home loan. The best Loan Officers are out there networking with consumers and Editor-in-Chief Publisher - CEO (516) 409-5555, ext. 312 (516) 409-5555, ext. 310 agents long before any of this happens, both online and offline. ericp@mortgagenewsnetwork.com joel@mortgagenewsnetwork.com But for the rest of us, the Loan Origination process doesn’t begin until the borrower Joey Arendt Beverly Bolnick approaches the Point of Sale. In the past, this was a branch office. The real estate agent would Art Director VP-Sales & Marketing (516) 409-5555, ext. 323 (516) 409-5555, ext. 316 provide a name or two to the would be homebuyer and suggest they get pre-qualified and after joeya@mortgagenewsnetwork.com beverlyb@mortgagenewsnetwork.com a phone call or e-mail, the prospect would meet with a Loan Officer in a branch to get the Scott Koondel Phil Hall VP of Operations Managing Editor process started. (516) 409-5555, ext. 324 (516) 409-5555, ext. 312 That still happens today, though not nearly as frequently as it has in the past. Today, a new scottk@mortgagenewsnetwork.com philh@mortgagenewsnetwork.com home loan borrower is just as likely to click a link on a real estate agent’s Web site that takes Richard Zyta Francine Miller Social Media Ambassador Advertising Coordinator them to a digital Point of Sale technology provided by a lender partner. The consumer then (516) 409-5555 (516) 409-5555, ext. 301 richardz@mortgagenewsnetwork.com francinem@mortgagenewsnetwork.com begins the process of keying in their own information and granting the lender access to other Rick Grant Dylan Pollock accounts for asset verification. Special Reports Editor Administrative Assistant Today, a Loan Officer may not know they have a new prospect until the pre-qualification has (570) 497-1026 (direct) (516) 409-5555, ext. 314 (516) 409-555, ext. 311 dylanp@mortgagenewsnetwork.com been sent to the prospect, in some cases by an AI-powered financial services chatbot (or Virtual rickg@mortgagenewsnetwork.com Assistant, as they are now being called). ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact It’s a brave new world. We focus on the Point of Sale in this month’s issue. This part of the VP-Sales & Marketing Beverly Bolnick at (516) 409-5555, ext. 316 or e-mail beverlyb@mortgagebusiness is new, which seems counter intuitive as we’ve always had a Point of Sale, just never newsnetwork.com. one with so many flavors of technology to choose from. As Rick Grant points out in his feature ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck article on the sector, “Bringing Technology to the Point of Sale,” there are currently dozens of at (516) 409-5555, ext. 312 or e-mail ericp@mortgagenewsnetwork.com. The deadline for submissions POS technologies available in the marketplace and lenders are still working to determine what is the first of the month prior to the target issue. sets them apart. SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgageSince we have not covered this sector in the past, we offer you an introduction and promise newsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. to go deeper into this important part of our business in the future. Actually, we’ve already Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the started. In addition to the stories in our special section, you’ll find a special Point of Sale authors alone and do not imply the opinion or endorsement of Mortgage News Network Inc., or the offiComparison Chart in this issue where we’re offering vendors the opportunity to share details on cers or members of National Association of Mortgage Brokers and its State Affiliates (NAMB), National Association of Professional Mortgage Women (NAPMW), National Consumer Reporting Association (NCRA) their offerings. By putting all of this information in one place, we hope to help lenders make and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, ARMCP and/or other state mortgage trade associations better decisions about the tools they use to interact with borrowers at the beginning of the events, activities and/or publications is available on a non-discriminatory basis and does not reflect the process. endorsement of the product and/or services by Mortgage News Network Inc., NAMB, NAPMW, NCRA, and other state mortgage trade associations. In addition, we’ll be launching a new video series shortly via Mortgage News Network that National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, ARMCP and/or other state will go deeper into some of these tools. We’re booking guests for it as you read this. To be mortgage trade associations do not make any misrepresentations or warranties concerning the regulatory and/or compliance aspects of advertisers, products or services and/or the editorial content conready to fully understand what these guests tell you, we offer you the articles in our special tained in Mortgage News Network Inc. publications. National Mortgage Professional Magazine and Mortgage News Network Inc. reserve the right to edit, reject and/or postpone the publication of any artisection. cles, information or data. First, veteran financial services technology writer Rick Grant offers an overview of the POS pace. In his article, he provides information that will help you decide which companies have the strength to survive and thrive in the mortgage marketplace and why you’ll need these tools to meet the new demands of the consumers we serve. Then, check out “Be Selective With Your Point of Sale Options” from Eric Wiley, Co-Founder and Executive Vice President of Pacific Residential Mortgage. Wiley provides a good overview of the considerations you should have in mind as you go to market for POS tech. Then, see “Configuration vs. Customization in Point of Sale Systems” by Deborah Hill, Vice President of Customer Success and Operations at MortgageHippo, for a vendor’s view of the capabilities these new technologies offer. Be sure to also find in this issue some articles we feel certain will make you more successful. First, starting with strategy, we offer you “The Beckwith Blog: Living a Life of Success,” by Christine Beckwith. In this excellent piece, Christine talks about how to find and maintain a proper work/life balance. Then, for the tacticians, we bring you a great piece by Paul Lucido, Chief Marketing Officer for Paramount Residential Mortgage Group Inc. (PRMG). In his article “Living on Video,” Paul talks about the proliferation of video and the power that a 30-second video message can have on your business. This month’s Mortgage Professional of the Month is Eric Tishaw of Direct Path Coaching. Eric was a mortgage professional who transitioned out of loan origination and into coaching for industry professionals. In a unique twist, read about how Eric also runs a Christian ministry that serves congregants in the U.S. and Latin America. You’ll find the trade association news you always expect to find in our pages, with a focus on three major upcoming events. The first, the NAMB Legislative & Regulatory Conference in D.C. is your chance to make your voice heard on Capitol Hill. Find out how you can get involved. Then, find out about more two more events we expect to attract good crowds over the next few weeks. The first is NAMMBA Connect 2019 in Atlanta, and the second is the NAPMW 2019 Annual Education Conference in New Orleans. We hope to see you at some of these upcoming events. We’ve packed a lot into this issue, so if you want to get through it all before the spring homebuying season starts to ramp up ... you’re already late. Check our Web site for news every day. We hope our coverage helps you succeed and reach every goal you set for your business. Best wishes. Sincerely,

Joel M. Berman, Publisher-CEO Mortgage News Network Joel@MortgageNewsNetwork.com

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n APRIL 2019

NAMB 601 Pennsylvania Avenue NW, South Building l Washington, D.C. 20004 l Phone: (202) 434-8250 l Fax: (530) 484-2906 l Web site: NAMB.org l E-mail: Membership@NAMB.org

NAMB 2018-2019 BOARD OF OFFICERS & DIRECTORS E X E C U T I V E

Richard Bettencourt, CRMS President Rick.Bettencourt@NAMB.org

Rocke Andrews, CMC, CRMS President-Elect Rocke.Andrews@NAMB.org

Michelle Velez, CMC Vice President Michelle.Velez@NAMB.org

B O A R D

George Burkely, CRMS Treasurer George.Burkley@NAMB.org

Chris Bettis, CMC Secretary Chris.Bettis@NAMB.org

John G. Stevens, CRMS Immediate Past President JohnGStevens@NAMB.org

D I R E C T O R S

Michael DeSantis Mike.DeSantis@NAMB.org

Wayne King, CRMS Wayne.King@NAMB.org

Linda McCoy, CMRS Linda.McCoy@NAMB.org

Matt Oliver Matt.Oliver@NAMB.org

Marty Pfeiffenberger MartyP@NAMB.org

Kimber White, CRMS Kimber.White@NAMB.org

Valerie J. Saunders, CRMS Executive Director ValSaun@NAMB.org

Harry H. Dinham, CRMS Chief Operating Officer HDinham@NAMB.org

National Association of Professional Mortgage Women 6000 Gisholt Drive, Suite 200 l Madison, WI 53713 l Phone: (608) 886-9817 l E-mail: Admin@NAPMW.org l Web site: NAPMW.org

2018-2019 NAPMW NATIONAL BOARD OF DIRECTORS

Laurel Knight-Keane National President President@NAPMW.org

Glenda Mooney President-Elect PresElect@NAPMW.org

Tobi Libbra Vice President NVP1@NAPMW.org

Rolanda Legg Vice President NVP2@NAPMW.org

Jaclyn Weedin Secretary NatSecretary@NAPMW.org

Nicole Shea Treasurer NatTreasurer@NAPMW.org

Robin Hart Parliamentarian Parliamentarian@NAPMW.org

National Consumer Reporting Association 701 East Irving Park Road, Suite 306 l Roselle, IL 60172 l Phone: (630) 539-1525 l Fax: (630) 539-1526 l Web site: NCRAInc.org

APRIL 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

2019-2020 BOARD OF DIRECTORS

Mary Campbell President (701) 239-9977 Mary@AdvantageCreditBureau.com

William Bower Vice President (800) 288-4757 WBower@Continfo.com

Paul Wohkittel Ex-Officio (410) 644-5020 PWohkittel@CISInfo.net

Helen Meyers Director (800) 782-9094 Helen@CreditInfoSystems.com

Debbie Loyning Treasurer (425) 264-1024 Debbie@Alliance2020.com

Mike Thomas Director (615) 386-2285, ext. 285 MThomas@CICCredit.com

Terry Clemans Executive Director (630) 539-1525 TClemans@NCRAInc.org

Janet Curtis Director (210) 224-6121 JCurtis@SARMA.com

Julie Wink Director (901) 259-5105 Julie@DataFacts.com

Jan Gerber Office Manager/Member Services (630) 539-1525 JGerber@NCRAInc.org

Maureen Devine Director (413) 736-4511 MDevine@StrategicInfo.com

Gary Glucroft Director (800) 877-3908, ext. 100 GaryG@TheScreeningPros.com

Delia Zuniga Director (623) 889-8999 Delia@AdvantagePlusCredit.com

Roy Goodwin Compliance Services Director (630) 539-1525 RGoodwin@NCRAInc.org

ARMCP Set to Launch New Site To all 1,600 members of the Association of Residential Mortgage Compliance Professionals (ARMCP), the new ARMCP.org Web site is nearing its official launch, a state-of-the-art platform designed specifically to fulfill the needs of residential mortgage compliance professionals. The design and development have taken several years to bring to the point of launch. “This is just what our organization needs,” said Jonathan Foxx, Ph.D., MBA, Founder and President of ARMCP. “Our current digital abode is on LinkedIn, and we will keep the LinkedIn group, though most of us will move to the new Web site home. We’ll be sending announcements your way soon, via LinkedIn and other media resources! If you have not yet joined ARMCP, please contact me at Info@ARMCP.org and I will send you an invitation.” ARMCP is the first and only independent, national organization in the United States devoted exclusively to residential mortgage compliance professionals. ARMCP’s independence means it is a non-profit association, owned and managed by its members, and not dependent on any profitbased enterprises. If you would like to join the association’s Steering Committee, create a forum to discuss news and views, or help in any way to build our organization, e-mail Info@ARMCP.org. For more information, visit ARMCP.org.

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APPLICATION + CREDIT + APPRA AISAL = FINANCING G

NationalMortgageProfessional.com

IN THE R REAL ESTAT TE JUNGLE E

You Need a Residual Income Strategy? Non-QM loans offer the perfect game plan By Tom Hutchens

APRIL 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

o you have a pipeline that can deliver a predictable number of loans two years into the future? I will wager that the only Loan Officers who do are closing non-QM loans this year. Here is how and why only non-QM loans enable a residual income strategy for Originators that is impossible if you only handle agency loans. I have written before about how non-QM customers are likely to deliver two mortgage originations (“One Buyer, Two Loan Deals,” October 2018). Here now are details about exactly how to leverage your short-term non-QM success in ways agency-only Originators cannot. Because non-QM loans enable people to buy homes who— for any number of reasons—are not eligible for lower-cost agency loans, these borrowers are eager to refinance as soon as they are eligible. That typically takes between one to two years. This interim period is when their Loan Officer must cement the refinance opportunity. Indeed, those “nearly guaranteed” prizes will not be automatic. You must personally call your customer to make sure they are on target to refinance with you. For non-prime buyers, the Originator should know when an event comes of a credit report. Make sure you speak with them 30-60 days before so they don’t go to a competitor. You can use e-mail, but personal contact is most crucial. I recommend using a CRM tool, Google Calendar or even a manual tracking system to make the follow-up both easy and effective. How much residual income can you predict and plan for? If you close two non-QM loans each month this year, on Jan. 1, 2020, you will have a future pipeline of 24 loans that should be executed within 24 months. If you are an agency-only Originator, can you fill your pipeline in the same way? Regularly contacting these targeted refi prospects allows you to ask for referrals in a more diplomatic way than if you simply are calling previous customers out of the blue. You always have a reason to call: “Hi, I just want to make sure we will refinance next year. By the way, do you know anyone who might need my help?” Our latest Webinar, “The Residual Income Strategy” (www.bit.ly/MarchWebinar2019) details these and other tactics. Angel Oak’s Account Executives are eager to help you succeed as a non-QM Originator. Identify your personal AE at http://AngelOakMS.com/map/ or call (866) 837-6312.

Tom Hutchens is Executive Vice President, Production at Angel Oak Mortgage Solutions, an Atlanta-based wholesale and correspondent lender leading the non-QM space for four years and licensed in over 35 states. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 539-4910 or e-mail Info@AngelOakMS.com.

SPONSORED EDITORIAL

nmp news flash

continued from page 15

Millennials were also the most likely to say saving for a downpayment was the most difficult task in the home process, at 26 percent. NAR also found that to one in six Gen Xers purchased a multigenerational home, either because their adult children have either moved back or never left home. Nine percent of older Millennials also bought a multigenerational home, mostly to take care of aging parents (33 percent) or to spend more time with those parents (30 percent). “The high cost of rent and lack of affordable housing inventory is sending adult children back to their parents’ homes either out of necessity or an attempt to save money,” said Lawrence Yun, NAR Chief Economist. “While these multi-generational homes may not be what a majority of Americans expect out of homeownership, this method allows younger potential buyers the opportunity to gain their financial footing and transition into homeownership. In fact, younger Millennials are the most likely to move directly out of their parents’ homes into homeownership, circumventing renting altogether.” Castle & Cooke Mortgage Completes Successful Year of Community Service

Castle & Cooke Mortgage LLC initiated a productive year of community service in 2018, completing 52 projects with an estimated 472 volunteers and 1,026 service hours donated to charities. Each week in 2018, a Castle & Cooke Mortgage branch or corporate team volunteered their time or coordinated donations for a charity of their choosing. From organizing food and clothing drives to volunteering at care centers and helping animals in need, Castle & Cooke Mortgage employees served a wide range of causes and individuals. “I am extraordinarily proud of the time, energy, and resources that Castle & Cooke Mortgage employees put toward helping their communities last year,” said

Adam Thorpe, Chief Executive Officer of Castle & Cooke Mortgage. “It’s been remarkable to see their work make a positive difference in people’s lives across the country. Service has become integral to our culture and commitments as an organization.” Property Taxes on SingleFamily Homes Up Four Percent in 2018

Property taxes levied on singlefamily homes during 2018 totaled $304.6 billion, a four percent increase from $293.4 billion generated in 2017, according to ATTOM Data Solutions. The average property taxes of $3,498 for a single-family home last year was also three percent higher than the $3,399 average recorded in 2017, although the effective property tax rate of 1.16 percent in 2018 was slightly lower than the 1.17 percent rate in 2017. The states with the highest effective property tax rates in 2018 were New Jersey (2.25 percent), Illinois (2.22 percent), Texas (2.18 percent), Vermont (2.16 percent) and Connecticut (2.02 percent). Among the nation’s largest metro area, three of the highest effective property tax rates were found in upstate New York–Binghamton (3.19 percent), Syracuse (2.89 percent) and Rochester (2.88 percent)– with Rockford, Ill. (2.83 percent) and Atlantic City, N.J. (2.74 percent) rounding out the top five rankings. On the flip side, Hawaii had the lowest effective property tax rate among the states (0.37 percent) while Laredo, Texas (0.35 percent) and Honolulu (0.36 percent) had the lowest among the major metro markets. “Property taxes levied on homeowners rose again in 2018 across most of the country,” said Todd Teta, Chief Product Officer for ATTOM Data Solutions. “While many states across the country have imposed caps on how much taxes can go up, which probably contributed to a slower increase in 2018 versus 2017. There are still many factors continued on page 44

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new to market

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the GSEs, government agencies and capital markets firms,” said Veros President and Chief Executive Officer Darius Bozorgi. “It’s part of our ongoing commitment to provide innovative solutions that support the lending industry’s need to streamline processes, mitigate risk and create cost efficiencies.” Jet Direct Mortgage Releases Its GoMortgage Mobile App

APRIL 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Now on S ale N LA’s NRM 2019 Eastern Regi e onal Meeting May 20 0-21 • New Yo ork, NY N

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Jet Direct Mortgage has released GoMortgage, mobile mortgage app available for both Apple and Android mobile platforms designed to simplify, inform and expedite the mortgage process for all parties. “It has become more and more evident that the mortgage industry needs robust solutions to serve today’s more mobilesavvy borrower, one that enhances the experience while adhering to the ever changing compliance landscape… and GoMortgage has exceeded all expectations,” said Jet Direct Mortgage Chief Operating Officer Peter Pescatore. “GoMortgage integrates a Loan Officer’s pipeline, real estate agent information, document capture and uploading capability, and multiple calculators into a single app for a mobile phone, informing and alerting each involved party of every step in their journey.” SoFi Refreshes Home Loan Products

The San Francisco-based fintech SoFi has introduced SoFi Home Loans for borrowers seeking purchase loans or refinancing. According to the company, SoFi Home Loans is an online process that offers competitive rates and affordable down payments, with as little as 10 percent down on loans up to $3 million. SoFi allows purchase loan applicants to choose between four different loan terms and fixed or adjustable rates, while those seeking

refinancing can choose between traditional mortgage refinancing, cash-out refinancing, and student loan cash-out refinancing. SoFi added that any loan request it cannot handle will be eligible for a digital transfer to an affiliate partner who may be able to help. “For most people, buying a home is the most important financial decision and, at the same time, the most complicated and stressful one they’ll ever make,” said SoFi Chief Executive Officer Anthony Noto. “We’ve taken everything we’ve learned in making lending convenient and painless, and brought it to SoFi Home Loans.” Better.com Now Offering FHA Loans

New York City-based fintech Better.com has announced that it is now offering Federal Housing Administration (FHA) home loans to consumers through its Web site. The company noted that this new product opening was based on data that found one-fifth of people carrying student loan debt who carry student loan debt are rejected for traditional mortgages due to their debt-toincome ratio, credit score and the ability to save for a downpayment. “Owning a home, the most conventional way Americans build wealth, can become a distant dream for millions crushed by student debt,” said Vishal Garg, Chief Executive Officer and Founder of Better.com. “Student loan payments make saving for a downpayment more difficult and mortgage payments harder to handle once you’re a homeowner. With the roll out of Better.com’s FHA loan program, we’re able to make homeownership accessible to millions of Americans who would have otherwise been denied a mortgage. It felt unfair that anyone who graduated in the late 2000s and invested in their education should now be punished and prevented from buying a home and accessing the American dream.” continued on page 38

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N A M B

P E R S P E C T I V E

Obtain Your Certified Veterans Loan Specialist (CVLS) Certification! Friday, May 3, 2019 8:30 a.m.-5:00 p.m. Liaison Washington Capitol Hill 415 New Jersey Avenue NW Washington, D.C.

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Is your focus on VA loans? Would you like to separate yourself from the competition? Don’t miss this opportunity to become approved for NAMB’s newest certification, the Certified Veterans Loan Specialist (CVLS). Cost is only $149 for NAMB Members and $249 for Non-members and includes Continental Breakfast and lunch as well. VA loans are an amazing benefit that veterans have earned, and it’s our responsibility as Loan Originators to help them take advantage of it. But to maximize that benefit, a veterans needs their Loan Officer to know all the nuances. Lender guidelines often cover the top level information and you can do a VA deal from them. However, those guidelines miss the “how” for many of the subtle details of VA loans, and often include limitations that can be worked around if you know how. With this extra information, you’ll be able to get deals done that nobody else can, help more veterans in the process, and stand out to referral partners. In case you’re wondering, it doesn’t matter if you’re in a military town. In a non-military town, it’s likely you’ll be the only VA expert. Which will make you stand out even more. The certification training will cover all the basics but, it’ll also dig into super advanced topics like: l Proving eligibility for everyone including reservists and surviving spouses l Tips for getting DU & LP approvals, and why manual underwriting isn’t something to be feared l The truth about VA appraisals and especially “Tidewater” l Ways to find double the number of VA-approved condos l New rules around refinances and being ready for when that market returns l Weird stuff like assumptions, EEM, Rehab, non-owner occupant co-borrowers, etc. Immediately following the class, a test will be given and, upon passing, you will be presented with your certification and all the marketing materials that you need to promote yourself! In addition, we’ll emphasize the detailed knowledge and stories that you can use to show your value to Real Estate Agents and help grow your business with VA as your niche. For more information, visit NAMB.org, contact NAMB Executive Director Valerie Saunders, by phone at (202) 434-8250 or email at valsaun@namb.org.

NAMB 2019 Legislative & Conference Saturday-Tuesday, May 4-7 Liaison Capitol Hill Hotel 415 New Jersey Avenue NW • Washington, D.C. The NAMB 2019 Legislative & Conference will be held SaturdayTuesday, May 4-7, 2019 at the Liaison Capitol Hill Hotel, 415 New Jersey Avenue NW in Washington, D.C. D.C. insiders, food-and-winers, and sophisticated overnighters praise the Liaison Capitol Hill’s stylish rooms, modern décor, and proximity to the city’s historic landmarks and attractions such as Capitol Hill, Union Station, the National Mall, and Smithsonian museums. With a playful, D.C.-inspired lobby art collection, contemporary comfort, the city’s largest rooftop pool, and the awardwinning restaurant Art and Soul, this pet-friendly boutique hotel is a welcome gathering place for neighborhood residents, Capitol Hill professionals and travelers. Cost for this event is $249 per person until April 11, 2019. In addition, if you register and make your hotel reservation by April 11, 2019, one night of your hotel will be free. You must reserve your own hotel room as part of your stay. Prior to your departure date, one night of your hotel room will be applied to the master account. The price after April 11 is $299 per person with no credit applied towards hotel. This NAMB Members-Only event features:

Saturday, May 4 8:00 a.m.-5:00 p.m. Nominating Committee Meeting (The Hill) 10:00 a.m.-11:30 a.m. Finance Committee Meeting (Connect) 10:00 a.m.-11:30 a.m. NAMB FHA Committee Meeting (Hub/Grid) Led by Committee Chair John Porter, NAMB’s FHA Committee reviews the policies, underwriting guidelines and activities of the Federal Housing Administration (FHA) and the Department of Housing & Urban Development (HUD). 11:30 a.m.-6:00 p.m. Registration (Pre-Function Area) Noon-1:30 p.m. NAMB Membership Committee Meeting (Connect) Led by Committee Chair Kimber White, CRMS, the Membership Committee’s responsibilities include the implementation of an annual membership promotion campaign. 1:30 p.m.-3:00 p.m. NAMB VA Committee Meeting (Hub/Grid) Led by Chair Ken Bates, the Veterans Affairs Committee reviews the policies, underwriting guidelines and activities of the Department of Veterans Affairs. 2:00 p.m.-3:30 p.m. NAMB Government Affairs Committee Meeting (Hub/Grid) Meeting will include brunch. Government Affairs Committee Chair

N A M B

P E R S P E C T I V E

Marty Pfeiffenberger will provide an in-depth overview of what’s happening in Washington, D.C., NAMB’s focus and more. 4:00 p.m.-8:00 p.m. Kentucky Derby Party with NAMB (Pre-Function Area)

Sunday, May 5 8:30 a.m.-10:45 a.m. NAMB Plus Meeting (Closed) (The Hill)

10:00 a.m.-10:45 a.m. NMLS Update on Transitional Licensing (Metropolitan) This session will detail how you can operate easily in multiple states starting in late 2019. 11:00 a.m.-Noon A Presentation by Freddie Mac (Metropolitan) Freddie Mac will present an update on new housing programs from the leader in mortgage market innovation. Noon-1:00 p.m.

11:00 a.m.-2:45 p.m. NAMB Board of Directors Meeting (Hub/Grid) Noon-6:00 p.m. Registration (Pre-Function Area) 3:00 p.m.-5:00 p.m. NAMB Delegate Council Meeting (Metropolitan) Chaired by NAMB President-Elect Rocke Andrews, CMC, CRMS, the Delegate Council is the body responsible for representing and serving as a forum for expressing and realizing regional interests and concerns. 6:00 p.m.-9:00 p.m. PAC Fundraising Reception (Metropolitan East/West)

Monday, May 6 All speaker time slots subject to change pending confirmation 7:00 a.m.-6:00 p.m. Registration (Pre-Function Area) 7:30 a.m.-8:30 a.m. Breakfast (Metropolitan)

8:45 a.m.-9:30 a.m. VA Update (Metropolitan) Guest speaker John Bell III, Deputy Director of Veterans Administration, will address attendees.

1:30 p.m.-2:45 p.m. Wholesale Roundtable Discussion: State of the Industry Featuring Quicken Loans, Freedom Mortgage and Plaza Home Mortgage (Metropolitan) Hear a lively discussion on trends impacting the wholesale channel featuring David Schroeder, Senior Vice President, Mortgage Services, Quicken Loans Mortgage Services; Keith G. Bilodeau, Senior Vice President, Freedom Mortgage Corporation; and Jeff Leinan, Executive Vice President of Wholesale Production, Plaza Home Mortgage. What is price compression and is it a Broker problem? Will transitional licensing increase retail vs. wholesale competition? What technology developments are around the corner that will increase Broker productivity? These questions and many more will be discussed. 2:45 p.m.-3:00 p.m. Break 3:00 p.m.-4:00 p.m. Advocacy Day Preparation (Metropolitan) Attendees will receive advocacy training, issue papers, zero in on targeted committees and get insider tips to NAMB’s march on Capitol Hill, as presented by Marty Pfeiffenberger, NAMB Government Affairs Committee Chair; and Roy DeLoach of DC Strategies LLC in Washington, D.C.

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9:30 a.m.-10:00 a.m. CFPB Director Kathy Kraninger (invited) (Metropolitan) Listen firsthand how regulatory changes and solid guidance will help the consumer and compliance by industry from invited guest, Kathy Kraninger, Director of the CFPB. Director Kraninger came to the CFPB from the Office of Management and Budget (OMB), where as a Policy Associate Director she oversaw the budgets for executive branch agencies, including the Departments of Commerce, Justice, Homeland Security (DHS), Housing and Urban Development, Transportation (DOT), and Treasury, in addition to 30 other government agencies. Previously, she worked in the U.S. Senate, where she was the Clerk for the Senate Appropriations Subcommittee on Homeland Security, which provides DHS with its $40 billion discretionary budget. On Capitol Hill, she also worked for the House Appropriations Subcommittee on Homeland Security as well as the Senate Homeland Security and Governmental Affairs Committee. Kathy also served in executive branch posts with the Department of Transportation. There, after the terrorist attacks on Sept. 11, 2001, she volunteered to join the leadership team that set up the newly created DHS.

1:00 p.m.-to 1:30 p.m. Break

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8:30 a.m.-8:45 a.m. Opening Remarks From NAMB President Rick Bettencourt, CRMS (Metropolitan)

HUD Secretary Ben Carson (invited) (Metropolitan) On March 2, 2017, Ben Carson was sworn in as the 17th Secretary of the U.S. Department of Housing & Urban Development (HUD). For nearly 30 years, Secretary Carson served as Director of Pediatric Neurosurgery at the Johns Hopkins Children’s Center, a position he assumed when he was just 33-years-old, becoming the youngest major division director in the hospital’s history. In 1987, he successfully performed the first separation of craniopagus twins conjoined at the back of the head. He also performed the first fully successful separation of type-2 vertical craniopagus twins in 1997 in South Africa. Dr. Carson received dozens of honors and awards in recognition of his achievements including the Presidential Medal of Freedom, the nation’s highest civilian honor. He is also a recipient of the Spingarn Medal, the highest honor bestowed by the National Association for the Advancement of Colored People (NAACP). Born in Detroit to a single mother with a third grade education who worked multiple jobs to support their family, Secretary Carson was raised to love reading and education. He graduated from Yale University and earned his M.D. from the University of Michigan Medical School.

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APRIL 2019 n National Mortgage Professional Magazine n

5:00 p.m.-6:00 p.m. Happy Hour (Metropolitan) Featuring an Open Bar and light hors dâ&#x20AC;&#x2122;oeuvres. 6:00 p.m. Dinner on Your Own

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4:15 p.m.-5:00 p.m. The Honorable Maxine Waters, Chair of the House Financial Services Committee (invited) (Metropolitan) Congresswoman Maxine Waters was elected in November 2018 to her 15th term in the U.S. House of Representatives, with more than 70 percent of the vote in the 43rd Congressional District of California. She made history as the first woman and first African-American Chair of the House Financial Services Committee. An integral member of Congressional Democratic Leadership, Congresswoman Waters serves as a member of the Steering & Policy Committee and is the Co-Chair of the bipartisan Congressional Task Force on Alzheimerâ&#x20AC;&#x2122;s Disease. She is also a member of the Congressional Progressive Caucus, and member and past chair of the Congressional Black Caucus.

Tuesday, May 7 8:00 a.m.-9:00 a.m. Lobby Day Breakfast With NAMB (Grid/Hill) 9:00 a.m.-4:00 p.m. Lobby With Your State Delegates on Capitol Hill 4:30 p.m.-6:00 p.m. Lobby Day Breakdown Reception (Grid/Hill) For more information, visit NAMB.org, contact NAMB Executive Director Valerie Saunders, by phone at (202) 434-8250 or e-mail at valsaun@namb.org.

NAMB National returns to Vegas in 2019

Saturday-Monday, September 14-16, 2019

2019 NAMB National Conference & Trade Show Caesar's Palace â&#x20AC;˘ Las Vegas Join NAMB at the nationâ&#x20AC;&#x2122;s most-attended mortgage-focused event by the countryâ&#x20AC;&#x2122;s top mortgage professionals! Details will be made available in the coming months. For more information, contact NAMB Executive Director Valerie Saunders at (202) 434-8250, e-mail ValSaun@NAMB.org or visit NAMB.org.

NAMB+ is an independent, wholly-owned, for-profit marketing subsidiary of NAMB, The Association of Mortgage Professionals. Dear Mortgage Professional, We are pleased to welcome Starrex as a new member of the NAMB Plus Endorsed Provider family. Their information, as well as all other Endorsed Providers, is available at www.nambplus.com. NAMB + works hard to continue adding new relationships that bring value to NAMB Members each month. If you have interest in becoming an Endorsed Provider, please contact me for more information. Sincerely,

Mike DeSantis President, NAMB+, Inc. mike.desantis@namb.org

See below for a complete listing of the current NAMB+ Endorsed Providers and visit NAMBPlus.com for more information. Let us show you how we can help you succeed! Avantus is a technologydriven full-service credit reporting company delivering best-in-class credit and verification solutions to the nation’s financial community for over 75 years. NAMB members receive a discount off Brokers Compliance Group compliance support programs.

What if you could supercharge those lagging leads? Thanks to the Pulse CRM, you can! Pulse will give you the tools to have your marketing done-for-you, ditch the spreadsheets and show your team how vital

MortgageHippo Swift allows loan originators of all sizes to deliver a modern borrowing experience, significantly improve borrower conversions, reduce origination costs and integrate with other innovative technologies in the mortgage industry. NAMB members will receive a 25% discount. National Mortgage Insurance Corporation (National MI) is a private mortgage insurer enabling low down payment borrowers to realize homeownership while protecting lenders and investors against losses when borrowers default. http://www.nationalmi.com. Sarma gives you access to their extensive resources including: merged reports from the three top credit bureaus, CreditXpert tools, AVM Reports, SocialValidate, TRV Verification, Interface with over 30 LOS, Fannie and Freddie connection, Verification of employment/deposit and much more. NAMB Members will receive a Twenty-Five Percent (25%) discount off of the regular price with their NAMB Membership.

Provides innovative service solutions to mortgage lenders, banks, and purchasers of residential real estate throughout the United States including national appraisal management and credit products through its affiliate companies, Property Interlink and 23 MFI Credit solutions. SYNCRO connects mobile salespeople to their office website leads. NAMB Members receive a 10% discount off regular prices for monthly unlimited SYNCRO Web Chat packages.

USA Business Lending, Inc. USA Business Lending is your complete resource for everything commercial lending. With our extensive network of funding sources and specialized loan programs, you can be sure that your clients have access to the most competitive rates and terms available on the market. Universal Credit Services is a Top Ranked, National Credit Reporting Agency and Authorized Report Supplier for Fannie Mae Day 1 Certainty® offering products and services from origination to closing. Universal provides TriMerged Credit Reports, Verification of Employment Reports, VOD's, 4506T's, Marketing Services, Flood, Fraud, and Appraisal Management Services.

If you are not a NAMB member please visit NAMB.org and join today to gain access to NAMBPLUS.com and the many beneﬁts NAMB members receive!

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CIC Credit - Tri-merge Credit, Employment Screening, & Much More. Businesses have looked to CIC Credit for expertise on Business Screening, Credit Reports, Mortgage Credit Reports, and Employment Screening for decades. With over 100 years of credit related experience, it's no surprise that CIC Credit is a leader in providing quality products to help clients qualify borrowers, mitigate risk, and ensure compliance.

MassMutual Disability Income Through an arrangement with Massachusetts Mutual Life Insurance Company (MassMutual), NAMB members have an opportunity to apply for individual disability income insurance (DI) at discounted rates.

If you want a social and mobile marketing strategy that gets noticed contact Social5 today for a FREE consultation and demo and to receive your NAMB member discount pricing.

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For over fifteen years, Camber Marketing Group has been the premier lead generation, data solutions and direct mail marketing company for the mortgage and financial services industry. From this perspective our goal is to help NAMB members generate profitable response and maximize their return on investment.

having an effective pipeline is. Learn more by visiting focusitinc.com.

Addressing Post-Housing Crisis Issues

The Times They Are a Changin’ BY PAM MARRON

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’ve had the privilege of working alongside a younger mortgage colleague during the last few months on a unique trade show. The two-day event, entitled “Brokers Are Better,” was formed by the Gulf Coast and Suncoast Chapters of the Florida Association of Mortgage Professionals (FAMP) to show the variety of technology and mortgage products that independent Mortgage Loan Originators have available to them to grow their business. The first day is a technology day with seven online sessions. The second day is an in-person trade show with 11 educational sessions before and after the trade show. The event formation came about after a few committee meetings where the success of presenting online versus presenting in-person was widely discussed. In the end, the decision was to try both. Almost daily, my colleague (whose education is an IT degree, but whose work background is in mortgage processing) and I would have discussion about flow and content of sessions for both days. He took control of the technology day, and together, we discussed the objective of showing mortgage-based resources and systems that could be integrated together for the most efficient way to get an Independent Loan Originator up and running as quickly as possible. First was TheMortgageList.com, an online mortgage resource packed with service providers that can assist with a mortgage office setup, training and more. Then, 15-plus technology companies were interviewed with the

demo of their systems and a deeper dive with tech people about integration. My colleague was very hands-on with this process, and involved me in the demos and discussions. But my background is 34 years of mortgage origination and my interest was how these systems could help organize leads before an application, keep in front of the client to obtain the loan and how to stay in front of the client after the loan closes. It quickly became apparent that this effort of interviewing technology companies had to be done together to ensure that detail of the process would be needed enough by a Loan Originator and easy enough to do for a processor so that both parties would work together with the system and not abandon it. Past experience has taught me that if a system is too cumbersome for either the Loan Originator or the processor, one of them is likely not to use it. In the mortgage business, the Loan Originator and a processor are a team, and how these two jobs work together is critical to provide the best service for a client. Another objective for the technology day was to insert details that Loan Originators need help doing. A surprisingly high number of Mortgage Loan Originators don’t know how to use the Fannie Mae and Freddie Mac Automated Underwriting Systems (AUS). In many banks and mortgage companies, Loan Originators complete the loan application, but hand it off to a processor to run through the AUS. And, there are some institutions that only use one

of the automated systems … either Fannie Mae Desktop Originator/Underwriter or Freddie Mac’s Loan Product Advisor. As an Independent Loan Originator, many of us use both systems and we run loans through the AUS’s ourselves. Knowing how to use these systems—let alone knowing about the differences between the two systems—prompted us to have Fannie Mae and Freddie Mac included on the technology day to demonstrate this. Both Fannie Mae and Freddie Mac are also included on the second day of the trade show for a session that explains their affordable mortgage products. For the in-person trade show day with sessions, we chose to promote popular and diverse mortgage products. Many Independent Loan Originators have a “niche” or specialize in certain loan types, like commercial loans, construction and renovation, credit-challenged clients, etc. We chose to have a few panels where the diversity of mortgage products and services could be shown. Next came getting the event promoted specifically to the mortgage professional audience. Online technology sessions can be

joined from anywhere in front of a PC or on a phone, so the promotional net was wider. The area from where Loan Originators could travel to the in-person trade show was a smaller footprint. It was decided to have a statewide Constant Contact e-mail campaign and to promote to the closest 4,300 mortgage professionals that could visit in-person with a postcard campaign. This effort was done to find the best methods to get in front of mortgage industry professionals. Older Loan Originators are often insistent on in-person connections, while younger Loan Originators are perfectly happy with everything online. This event attempts to blend these two ways to connect. Thanks to my incredibly patient colleague Daniel Hughes with the Suncoast FAMP Chapter. And thank you to my mortgage colleagues at the Gulf Coast FAMP Chapter who worked together on the detail and formation of this unique tradeshow. On April 11-12, we will see the results and there will be things that both worked and don’t. Either way, what is learned will help us going forward. Stay tuned.

Disclaimer: While I am a member of the HUD Housing Counseling Federal Advisory Committee, the opinions noted are those of the author only. Pam Marron (NMLS#: 246438) is Senior Loan Originator with Innovative Mortgage Services Inc. (NMLS#: 250769) in Tampa Bay, Fla. She may be reached by phone at (727) 3758986, e-mail PMarron@InnovativeMortgage.onmicrosoft.com or visit HousingCrisisStories.com, CloseWithPam.com or 8Problems.com.

NationalMortgageProfessional.com

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Marketi and Mo arketing … marketing? Oh God, I hate to do all that stupid stuff. Advertising? I have to do what? Look, I’ll go to work for you if you tell me what your Marketing Department is going to do for me. What do your weekly flyers look like? Do you reimburse your LO’s for food at open houses? What if I make flyers? Do you support that? When do I have to have the information to the Marketing Department in order to have the flyers done. Do you have a courier who will bring them to me if I get a last-minute request? What do you have for me to give out at real estate showcases? Just pens, no, I need more than that. Do you have a monthly newsletter? Can I see a sample? You have a CRM? Is there training or do you have someone who will do it for me? What do you have for your branch managers? Yes, I know I’m not a Branch Manager yet, but before you know it, I will be. Yes, my monthly production last year was an average of just under three deals a month. But do you reimburse us if we want to take a prospective Broker to lunch? How about ball games, football, baseball? We get a suite, right? That’s all? Just the regional baseball games? How about when I do a sales meeting at a Broker’s office, I usually have to bring bagels and cream cheese. Do you cover that? You know real estate agents love food. That’s a big draw to the sales meetings. I’m thinking of putting together a monthly tour for real estate agents new listings, I’ll need a van. Okay, can we put all of that in the contract? Is that enough? Did I ask enough questions? Please let me know what I missed? If you ask any of these questions at any stage of a job interview, you’re asking for the wrong position. It can be the first, second or last interview. I can’t write JOB because if you want to apply for a JOB, you’re

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NationalMortgageProfessional.com

The

Mortgage

Godfather

eting, Marketing ore Marketing

BY RALPH LOVUOLO SR.

headed in the wrong direction. Go take a JOB with a draw versus earning and working for a commission. Back to square ONE! You might not like what I have to say, but I’m going to give you the words, so just keep reading. You think you’re in the mortgage business, but I don’t agree … you are in the marketing business and you better learn what that means before the day is over. If you don’t know the statistics of what works and why in the field of marketing, as I’ve written, you are in the wrong business. The reason may surprise you. Sure, I understand that you need to know the parameters that allow a buyer with a 573 FICO with only five percent downpayment to buy a condo that is not approved by FNMA. But if you consider yourself a professional Mortgage Loan Officer, Branch Regional or District Manager, you better understand marketing. And you need to know what day of the week experts believe is the best day to send e-mails to your DB (Tuesday) and time (10:00 a.m.). Check this site for more: https://coschedule.com/blog/b est-time-to-send-email. But listen folks, this is just the start of what you need to know about marketing. You need to know more about generating business than those you seek to do business with. I’ve been passing this on to you almost every month, in my writings here and my weekly videos on the Mortgage News Network (sign up for my videos at https://MortgageNewsNetwork. com/Weekly-Shows/MortgageGodfather) and my posts on LinkedIn which have increased my development of connections in one year from about 10,000 to nearly 23,000. You need to be prolific everywhere. I believe with no qualification that LinkedIn is the most powerful marketing tool in the free world. I just don’t know about the entire unfree world, but in Russia, there

are six million users and China has 13 million users. That’s enough for now. Look up the rest if you need. And then there is Facebook, and yes, I am aware of all the slippery slopes there are with the Facebook community. So be careful, but still prolific within your marketing area. Here now is where I depart from all the Internet systems and I know there are so many I haven’t touched upon. But why do I think you need to know all this information and what the heck are you going to use it for? Easy … selectively, you must absolutely must decide and then absolutely act to use all of these extremely effective systems to develop business for your customers and yourself. You need to pass all of this information on to every person you want to do business with or have done business with. As I further roll down the path that might cause you to have a heart attack, here is what I propose: Help your referral sources do more business. Say the following words out loud … “It is great to meet you, I want you to know that my goal is to help you do more business. I’m not like any other Loan Officer you’ve ever met because I see my purpose and my lifeblood to be the one person you call when you’re looking for an idea that will help you do more business. I’ve become more adept at all the applications, such as Facebook, LinkedIn, YouTube and print publications than any other Loan Officer you’ll meet … and the benefit will accrue to you because of all the knowledge I’ve amassed.” Two weeks ago, I was discussing with a fairly new client what I suggested he do and say at the next Realtors meeting he went to. Well, truth be told, he was on his way to one the next day and he had mentioned it to me. I chomped at the bit, but knew my time would come. When it came, I told him to use those words above. The ones in quotation marks. He called me two days later. Now understand that I’ve known this guy since 1982. He

worked at a lender I did business with as their underwriter. His resume is long and detailed, having spent this entire time since I met him in one business—the mortgage business. Here is almost verbatim what he said to me on the call: “After I asked a real estate salesperson or Broker for their card, I said to them exactly what you told me. I didn’t mention programs, rates or service. I just told them I wanted to help them grow their business and I would call them o meet them to show them some ideas I had to help them.

Ralph, it was like looking into the eyes of a deer in headlights. They said variations of ‘What did you say?’ ‘You want to what?’ I’ve never heard that from any mortgage person I’ve ever met. I’ll look for your call.” Your job, if you agree to take on this project is to do what is outlined here. If you’re not yet part of my LinkedIn connections, go there right now and ask me to accept you. Then ask your boss if I can come to visit you and give a long talk to all of your salespeople. Everything has a cost and benefit and the benefit is yours.

Ralph LoVuolo Sr. has nearly 60 years history in the mortgage business. He was a Co-Founder/President of the NYAMB and a long-term member of the Board of Directors of NAMB. The Mortgage Godfather is available to help your salespeople do more business. He does sales rallies, Webinars, personal coaching. Call, text or e-mail (917) 5761230 or e-mail Ralph@MortgageGodfather.com.

heard street on the

Our Heard on the Street column is a chronicle of events, changes and passages in the lives of the people and companies shaping the mortgage industry.

New American Ranks as a “Best Workplace” for Fourth Consecutive Year

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New American Funding has been named a “Best Workplace in Financial Services” and Insurance by Fortune and Great Place to Work for 2019. The national mortgage lender ranked 11th on the annual list, moving up from its spot of 26th from last year. “We’re thrilled to have Fortune and Great Place to Work recognize us as one of the Best Workplaces in America,” said Rick Arvielo, CEO of New American Funding. “It’s an honor to make this list for the fourth consecutive year. We couldn’t be more excited to know that our employees love working for New American Funding!” Great Place to Work compiled the list by gathering feedback from more than 726,000 employees at leading financial organizations across the country. The firm used a Trust Index survey to have employees anonymously rate their companies in several key areas including leadership strength, pride in their organization, opportunities for professional growth, and work-life balance. Of the New American Funding employees who were surveyed, 91 percent said they have a great workplace environment. Employees say that New American Funding is a great place to work because of the “family-like feel,” “the great NAF360 culture and atmosphere,” and the “amazing support that they receive from their team leaders.” Employees also think that when joining New

American Funding, “you’re made to feel welcome” and the “leadership team embody the best characteristics of the company.” This ranking is the latest recognition the company has received for its exceptional work environment. New America Funding has received notable accolades including Best Workplaces for Millennials by Fortune and Great Place to Work and Top Mortgage Employers by National Mortgage Professional Magazine. Lender Price Integrates Its PPE Engine With LendingTree Lender Price has announced the completion of an integration of their Product Pricing & Eligibility (PPE) Engine with LendingTree, which will allow mortgage lenders to synchronize their loan pricing in real-time. Lender Price’s PPE technology is designed to process large amounts of pricing data and produce instantaneous responses that satisfy the expectations of today’s digitally-connected originators and borrowers. “Lender Price’s easy onboarding and flexible loan price configurations will enable LendingTree to further expand our lender network to support lenders of all different sizes,” said Mehul Trivedi, Senior Director of Platforms and Product Management at LendingTree. “Lender Price’s technology capabilities and versatility make it even easier for LendingTree to access digital pricing and present real-time offers from a diverse

lender network to our online borrowers, bringing more choice and transparency into the loan process.” By combining Lender Price’s technology with LendingTree’s online marketplace, borrowers and lenders benefit from a partnership that delivers fast and accurate mortgage quotes. “Lender Price’s architecture and technology stack make complex pricing decisions seamless and easy,” said Dawar Alimi, Chief Executive Officer of Lender Price. “Our advanced algorithms make creating pricing rules using natural language rather than using control flow logic like ‘ifthen’ statements. We’re thrilled to be a partner with LendingTree and look forward to an enormously beneficial relationship in the future.” USA Business Lending Renews as NAMB+ Endorsed Commercial Provider

NAMB+ Inc., the for-profit marketing and communications subsidiary of NAMB, has announced that Indianapolisbased USA Business Lending Inc. has renewed as a NAMB+ Endorsed Commercial Loan Provider. For 30-plus years, USA Business Lending has been offering a variety of commercial lending services nationwide. Their “Commercial Loans Made Easy” program was developed to help mortgage professionals offer business loans to their borrowers with minimal time

and effort. With USA Business Lending’s specialized loan programs, you can be sure that your clients have access to the most competitive rates and terms available on the market. “NAMB+ is pleased to welcome back USA Business Lending as an Endorsed Provider,” said Mike DeSantis, NAMB+ President. “Our NAMB members will truly benefit from the wealth of knowledge that USA Business Lending can provide in the commercial arena.” Additionally this year, USA Business Lending is launching an affiliate initiative to offer qualifying NAMB members the opportunity to have ownership in commercial net branches. NAMB+ connects NAMB members with an array of Endorsed Providers aimed at helping mortgage professionals gain a competitive advantage in today’s marketplace with discounts and special programs only available to NAMB members. NAMB+ brings everything from compliance, digital mortgage platforms, lead generation, insurance services, social media and much more to NAMB members as part of the NAMB+ program. “USA Business Lending is proud and excited to continue working with NAMB+ to offer NAMB members additional income opportunities through our ‘Commercial Loans Made Easy’ program for mortgage professionals nationwide,” said Mike Surber, Chief Executive Officer of USA Business Lending Inc. “Our programs allow NAMB members to earn substantial commissions. We also look forward to offering affiliate net branches in 2019.”

Freedom Mortgage Joins Forces With Sagent on Borrower Self-Service Portal

Total Expert has announced that its Marketing Operating System is now powering Motto Franchising LLC’s MottoSpark, a marketing and sales customer relationship management (CRM) platform available to Motto Mortgage franchises across the country.

System, Motto Mortgage loan officers can run online and offline marketing from anywhere for themselves and their co-marketing partners. And new Motto Mortgage network Loan Officers can get set up on the system without ever touching a keyboard, only a mouse.” Total Expert enables Loan Officers to personalize the Motto Mortgage brand for each customer by analyzing their data and only communicating with them in a way that’s relevant to them. And for Motto Mortgage continued on page 51

Why choose MBS Highway? BARRY HABIB— THE ORIGINATOR OF THE MARKET ADVISORY SERVICE Daily guidance and insights from Mortgage Market expert Barry Habib. He closed over $2 Billion in production as a Loan Originator, called the bottom of the Housing Market and currently provides sales and market training to thousands of Loan Originators across the country. STATE OF THE ART, USER FRIENDLY WEBSITE We've taken great pride in building a website that uses new technology, and enhances the user experience. No matter where you are on our site, you'll always have market data in sight. Never miss a lock alert with our real time market news and alert system.

EASILY SHAREABLE CONTENT With a touch of a button members are able to share charts showing the latest economic and housing data.

REAL ESTATE DATA & INSIDER CONTENT Show the housing opportunity in your local market to customers and real estate agents. We will provide you with affordability levels, appreciation, resale volume, new construction, and job growth…updated monthly and easily shared. There is also additional content from Art Cashin, Kiplinger letters, and much more.

MOBILE WEB APP Always stay in touch with the market when on the go with our Mobile Web App. It's fast and easy to use. Whether you have an iPhone, Android, Blackberry, Windows Phone, you'll always have access to MBS Highway. No downloads, no annoying updates, just visit m.mbshighway.com in your phone or tablet's browser. CALCULATORS AND TOOLS Powerful and unique calculators to help you when presenting to customers. Buy vs. Rent, ARM vs. Fixed, Paying Points, and Amortization calculator are a few examples. You can save and share the results to beat your competition.

What you're getting with your MBS Highway trial l Bond Quotes l Daily Video and Transcript l Interactive Charts l Lock/Float Advice l SMS Updates l Real Time Market News l Cashin's Corner l The Kiplinger Letters l Real Estate Market Data l By The Number$ l MBS TrendTRAKR l Social Share

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Motto Mortgage to Utilize Total Expert’s Marketing Operating System

consistency and regulatory compliance.” The Total Expert Marketing Operating System gives Loan Officers everything they need to build successful online and offline marketing programs, from social media and analytics to printed postcard mailers–all with audit-ready compliance and brand controls built in. “Like us, Motto Franchising, LLC is unleashing the entrepreneurial spirit inherent in so many loan officers,” said Sue Woodard, Total Expert Chief Customer Officer. “With our firstof-its-kind Marketing Operating

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Freedom Mortgage has announced its decision to implement LoanServ Account Connect from Sagent Lending Technologies as its borrower self-service portal. With this new solution, Freedom Mortgage will further empower its mortgage and credit line borrowers with always available, real-time access to their loan information through any device. “Freedom Mortgage is focused on supporting borrowers in ways that make their lives easier,” said Stanley C. Middleman, Freedom Mortgage Chief Executive Officer. “LoanServ Account Connect, not only helps us accomplish this, the solution makes it easy for us to reach out to our borrowers digitally while at the same time complementing our continued focus, that of servicing loans.” Borrowers are now in control of their finances and LoanServ Account Connect helps them do just that with the ability to view and pay their billing statements, manage loan details, and even view payoff estimates. Contextsensitive guides boost borrower confidence in submitting requests through LoanServ Account Connect related to property damage, dropping mortgage insurance coverage and loss mitigation. “Helping clients deliver best in class experience to their borrowers is the ultimate goal of Sagent and of LoanServ Account Connect,” said Bret Leech, Sagent Chief Executive Officer. “Freedom Mortgage is known for enhancing the borrower experience and this solution is another powerful tool as they continue to enhance that experience.”

“Our independent franchise owners join the Motto Mortgage network because we provide the infrastructure they need to grow and diversify their businesses,” said Ward Morrison, Motto Franchising President. “Total Expert is the brain that drives our marketing and sales engine that is at the core of our affiliated mortgage brokerage and real estate services model. It empowers our franchisees to build their own personalized marketing programs with their comarketing partners, while helping ensure brand

By Jonathan Foxx, Ph.D., MBA

National Consumer Protection Week

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Question We are a large mortgage lender, with multiple offices through the United States. Because the first week of March was designated as National Consumer Protection Week (NCPW), we decided to recognize NCPW as a nationallycoordinated campaign to help consumers understand their rights, while giving them access to free educational materials. Our company provided training to compliance officers and employees on the pitfalls our customers might face. We are going to provide Best Practices training semi-annually to employees and to new hires. I am writing you to give us some feedback on areas that we could include in our upcoming training. We want to concentrate on complaints and fraud. So, what are some important some consumer complaints and fraud scams? Answer I appreciate that you took note of National Consumer Protection Week (NCPW). This initiative, developed by the Federal Trade Commission (FTC), ran March 3-9, 2019. Participating were many banks and non-banks, as well as state and federal agencies. Various materials were offered, such as articles, social media

images and messages, and military outreach information. It is a good idea to discuss consumer complaints and fraud scams, inasmuch as the FTC has made a firm commitment to reduce these attacks on consumers. Each year, the FTC issues a report categorizing the consumer complaints it receives. The method consumers use to complain about businesses is fairly simple: Access is made through the FTC Complaint Assistant and then they select the category that matches the complaint criteria. Also, if the consumer has received a phone call or e-mail from someone claiming to be from the government, the consumer can report it to the FTC Complaint Assistant. In all, the FTC received nearly three million complaints from consumers in 2018. Government impostors top the list of consumer complaints submitted in 2018. These impostors are individuals who falsely claim to be from the Internal Revenue Service (IRS), Social Security Administration or another government agency. Their scam is to convince people to turn over money or personal information. For a frame of reference, government impostors made up nearly half of the 535,417 impostor scam reports to the FTC in 2018, with reported consumer

losses totaling nearly $488,000,000 to all types of impostor scams in 2018. Unfortunately, many of these calls are aimed at seniors who depend on their Social Security checks to get by each month. So, your employees should know that if any of your older account holders mentions a phone call from a “government individual,” they should assure the account holder that the Social Security Administration will never initiate a call, ask for a Social Security Number over the phone, or direct somebody to send money in order to keep receiving benefits. Debt collection complaints dropped to the number two spot after topping the FTC’s list of consumer complaints for the previous three years. Identity theft was the third most common complaint, but it consistently ranks among the top consumer complaints made to the FTC. As in previous years, wire transfers and credit cards were the first and second most widely reported form of payment for fraud.

In 2018, however, a growing number of consumers reported that scammers demanded to be paid with gift and reload cards. The number of consumers who said they paid with a gift or reload card grew from more than 28,000 in 2017, to more than 41,000 in 2018, while the total amount paid using a gift or reload card to scammers nearly doubled to $78 million. I note that your financial institution is in all 50 states, so you may be interested in demographics. To see the top complaints in your state, you can look at the FTC’s data book, which has a state-by-state listing of top reports in each state. The top states in 2018 reporting fraud and other consumer issues were Florida, Georgia and Nevada. The FTC also releases consumer complaint data on a quarterly basis. You can find all of this data on the FTC’s Web site at FTC.gov. Information contained in this article is not intended to be and is not a source of legal advice.

Jonathan Foxx, Ph.D., MBA, is Chairman and Managing Director of Lenders Compliance Group, the first and only full-service, mortgage risk management firm in the United States, specializing exclusively in outsourced mortgage compliance and offering a suite of services in residential mortgage banking for banks and non-banks. To ask a question or request compliance support, e-mail Compliance@LendersComplianceGroup.com.

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Mortgage Professional of the Month

Eric Tishaw Direct Path Coaching By Phil Hall

ric Tishaw was a mortgage professional who transitioned out of loan origination and into coaching for the industry. On the side, he runs a Christian ministry serving congregants in the U.S. and Latin America. National Mortgage Professional Magazine recently took the opportunity to speak with Eric regarding his unique career achievements.

How did you get involved with the mortgage profession? Was this the career that you wanted to get into? Eric Tishaw: There is an old saying that no one ever intends to go into the mortgage business, but I’m the exception to the rule. I grew up around the mortgage business and got to see first-hand the opportunities of the industry and the unlimited income earning potential. My plan was always to go into the mortgage business after college. How did you rise from Loan Officer to Chief Executive Officer and Co-Owner of Hometown Lenders over the course of 13 years? Eric Tishaw: It involved a solid plan, hard work and great marketing. I started out as a Loan Originator while getting my MBA at the University of Alabama in Huntsville. I decided to build a branch and grow it. At the time, I joined a small company called Hometown Lenders and ran one of their three branches. The owners saw what I did in growing the branch, and over time, I was asked if I wanted to grow the entire company. I said I would love to and made a plan of where I wanted to take the company. I developed a very focused plan, and then I executed the daily steps that were necessary to get there. Great marketing was also a very important factor in that. With a very small company, I had many hats: I was wearing the legal hat, the compliance hat, the customer service hat and more, but I knew that to get the company where I wanted it to go, I had to be good at marketing, recruiting and coaching. I grew the company by hiring

eyes. Then, they can go forward refreshed and energized to take the right actions with passion and purpose.

“Everyone has greatness in them inherently. Whatever comes out in great performance is determined by focus, work ethic and commitment.” great people and then by helping them double and triple their business. After reaching our growth goals, the opportunity presented itself to buy into the company, which I did. Why did you decide to sell your stake in Hometown Lenders? Eric Tishaw: When the opportunity came along to sell my part, I saw that a move to coaching would allow me to focus on what I enjoyed doing the most, which is helping Originators and Branch Managers grow their businesses and reach their dreams. As a result, I decided to start a coaching company and apply the same systems and tools that I had developed over the previous 15 years in order to help mortgage producers grow their business. What separates Direct Path Mortgage Coaching from other coaching firms? Eric Tishaw: I believe the depth of the coaching experience is the most important aspect for success. My experience as a top-producing Loan Originator and Branch Manager, and eventually part Owner, provides a unique depth of experience that can be leveraged to help mortgage producers maximize their income and reach their dreams quickly. Every producer is different, and there are multiple ways to achieve success in the mortgage business. As a result, I customize the coaching to the individual producer, so that it is tailored specifically to their needs. I also make myself available to them between sessions, because sometimes it’s just not enough to meet once every two weeks with an aggressive growth plan in place. Challenges, opportunities and questions arise along the way, so I

make myself available to help my clients at each step. In your professional opinion, what separates good mortgage producers from great mortgage producers? Eric Tishaw: Everyone has greatness in them inherently. Whatever comes out in great performance is determined by focus, work ethic and commitment. I help people work smarter, not just harder. I help them look at their business from different perspectives so that they clarify goals, identify roadblocks and apply their attention to the next major step needed. There is a lot of freedom in mortgage sales which is what makes the necessity of focused activity so important. On a daily basis, there are many noises coming at producers that are trying to grab their attention. Identifying and then staying focused on the daily action steps necessary to achieve success is huge. Your Web site promises to help clients “Break out of the rut from whatever is holding you back and overcome any obstacles that threaten to get in your way in the future.” How do you manage to get people out of their rut? Eric Tishaw: It starts by hitting the reset button and re-imagining what their new business will look like. By applying different perspectives, we re-discover passion and examine their limiting beliefs and look at their goals and actions through new

Do you see a lot of recent college graduates seeking out mortgage careers? Eric Tishaw: Not as many as there should be in my opinion. I believe there is a great opportunity in our industry to bring in people who are hungry, loyal and committed. I know most people don’t feel like they have time to mentor a ‘newbie,’ but with the quality of the training courses available these days, this represents a great opportunity for producers to grow their teams. What is your goal for Direct Path Mortgage Coaching? Eric Tishaw: I want to help as many people as my schedule will allow, and I am enjoying being able to give back to an industry that has been good to me. What inspired you to start Free Indeed Ministry, and how much time do you devote to its operations? Eric Tishaw: I really get inspired daily using whatever God has given me to help others in any way possible. I enjoy filling the needs God puts on my heart or in my daily path, whether it is feeding the hungry, clothing the poor, aiding shelters and food banks, helping the homeless or anyone I see who has a need here in our local community, nationwide, and also in Guatemala. I usually do this for six to eight hours a week. What do you do in your leisure hours? Eric Tishaw: I enjoy riding my motorcycle in the mountains in the spring and fall. In the summertime, I take my two girls to jet ski on the river and picnic or grill. In the winter, we love to visit indoor water parks. I also enjoy reading and learning so as to remain a constant student, especially when it comes to marketing.

Phil Hall is Managing Editor of National Mortgage Professional Magazine. He may be reached by e-mail at PhilH@MortgageNewsNetwork.com.

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Foolish Things Loan Officers Do By Brian Sacks

very year on April 1, I have had the ritual of sitting down and reviewing my business specifically to see what opportunities I might be missing. I think it’s foolish not to have a goal and plan, but more importantly, you need to have the strategies in place to achieve them. Even the best plans sometimes run into bumps in the road that we need to pay attention to. Unfortunately, most Originators and salespeople in general just move on to try other things when they hit a bump, while some even give up totally and throw in the towel. What I have found in my own business, and from training and coaching thousands of Originators, is that success is generally found right around the corner. In fact, I gave all of my Top Originator Mastermind Members a copy of a classic book called Acres of Diamonds that is long out of print. The book is about a farmer who gave up way too soon. If he had only dug one inch deeper and hung in there, he would have discovered that his farm had acres of diamonds. It’s worth reading if you can get a copy, especially if you are a manager. It’s a lesson worth keeping in mind because we are all human and no one likes to struggle. I want to point out to you some areas of your business that it’s foolish not to pay attention to. I would prefer to quote the motto I heard from Winston Churchill which is: “Never give up … never, never.” Those are much better words to live by if you want to be a successful Originator. We will all face setbacks and failures and how you handle them will determine your success.

Take agent business for granted We are all in a very competitive

business and at a very competitive in the business. You should never ever take an agent’s business for granted. You should treat each relationship as if it could be lost at any time, since it can be. Make sure you are always staying in touch with your agents and providing value. Call them just to see how they are doing. Send them notes letting them know you appreciate them and their referrals. Don’t forget to ask for referrals A person who is referred to you is 90 percent more likely to use you than someone who has just found you online or from some other marketing method. You need to be constantly asking both your buyers and your agents for referrals. Try asking when you first meet, and again during the application process, and once again at closing. But wait … you are not done just yet. You need to be asking for referrals after settlements, which is the time most originators rarely ask. Assume that buyers with issues should be avoided I have truly built my business being the expert in a niche. Buyers who have issues are rarely rate-sensitive. But they do become your biggest referral source and cheerleader after you help them. There are buyers with income, asset and credit challenges, and each of these areas now have specific programs and investors that deal with each of these specific issues. Not every loan can or will be a slam dunk. Make sure you become the expert in a specific niche and let everyone in your market know about your area of expertise. Only use social media for marketing Using any one method exclusively for your marketing is an ENORMOUS mistake which you have probably seen me speak

about. The rules set by Facebook, LinkedIn, Google and other sites are constantly changing. What is working today could be prohibited tomorrow or simply stop working altogether. Think of all the people who lost their income when Google changed their algorithms three times in one year. Instead, you would be much better off using various types of marketing methods and media. For example, I use television, radio, print and online tactics. But I also use direct mail extensively, as well as in-person seminars and online Webinars. Using multiple media will make all of your marketing efforts much more effective, but it will also protect you from any major changes. Not following up with pre-quals This is something I have truly never understood in my 35 years in the business. We all work so hard to get a client to call us or get referred to us. The buyers contact us and we get their information. Then, we get them pre-approved and then explain various programs and answer their questions. We then wait for them to contact us and wonder why we aren’t closing as many deals as we would like. Or we wonder why they went to a different lender. I have an entire system for dealing with pre-quals after I speak or meet with them. They are put into a database. They are sent a letter thanking them for meeting. They are sent a monthly newsletter. They are also called

each and every month to check their status and see if they have any questions they want answered. Thinking good rates and good service will get you business I saved the best one for last, but trust me that there are many additional mistakes we all make that are not listed here. I constantly hear Originators moaning about their rates or the service they get from their support teams. If I am being totally honest, I do as well, but rarely. The truth is that good rates and service are just basic in this day and age. If you aren’t able to provide competitive rates and provide good service, you are simply in the wrong business. Stop and think about all the reasons someone should use you without saying it’s about rates and service. There are so many other ways you are able to provide value to your partners and clients. There are two big issues with thinking that service and rates will generate new business for you. For service, the buyers, only see the service AFTER the transaction closes. In terms of the rates, there will ALWAYS be someone cheaper than you in the market, so you MUST find other ways to show your value. Now, I want you to take out a sheet of paper or pull up a new Google or Word Doc and start thinking about these mistakes. How many of them are you foolishly committing? How will you correct them?

Brian Sacks is a branch manager with Homebridge Financial in Owings Mills, Md. He has been originating for 35 years, with career closings of $1.5 billion-plus and 5,833 transactions. Brian is also the creator of the Top Originator Secrets Blog and has recently published an originator success manual on the 48 Proven Ways to Immediately Grow Your Production. You can learn more at https://48WaysBook.com.

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T H E

B E C K W I T H

am putting on my coaching hat for this edition of “The Beckwith Blog.” As I watch the swirling of this industry into the tizzy of expos and conventions, the social media rave, the jockeying for market share, and an uber level of competition and online presence, behind the scenes, I see a lot of challenges. As they say, “The white picket fence may not tell the full story.” I see people who are tired, angry, challenged and disappointed by the market. Now, I get that this sounds negative and God knows I live a life waving a proverbial flag of positivity at everything, but the reality is, with challenge comes a mental and physical toll. So this month, I dedicate this article drawing off my experiences as a coach, for having gone to college for sports medicine and having my certification to teach

B L O G

Living a

h t i kw

c e B

T he

nutrition and aerobics for many years and for overall surviving in a world that takes withdrawals every single day from my health. But I promise you, this won’t be your average health article. A fight of the fittest I am not a gym snob, but I do go

mentally and physically, from a natural decline. Add in all of life’s curveballs that can throw both off balance, bad physical genetics, vices and the demands of a stressful work/life balance, and voila … you’ve got the recipe for many an ailment. Then there is the entire philosophy of people who buy from those they see as regimented and how that plays into the psyche and perception of a consumer. Do we migrate to the physically fit? Do we buy more from that type of person? Do we relate more and look up more to that type of individual? These are rhetorical questions to be answered in your head. I have my own answers, from experience. All I know is that I am surrounded in the hotel gyms by my peers. For decades, the gym has served as the unspoken meeting place of the successfully-minded at the wee

h t i kw

to the gym at least four times a week and have for most of my life. I don’t look down on those who don’t, but I do know in coaching people, in leading people in my previous life, that those folks not focused on their physical well-being are often suffering in many ways, both

a Life of “Success” By Christine Beckwith

hours preceding our long days of convention and corporate meetings. There is a trend there that I see in coaching. Allow me to expand in this next section … The mind of a warrior In speaking in-depth to people trying to find success, I have, for many years, come across folks who are fighting some form of imminent depression or even negative thinking. I have come to realize that all of us are falling in that state of mind on the regular. That life is about overcoming. I have also come to realize that many people have figured out how to make substantial deposits into their mental state by obvious rituals, none of the least are the following: l Reading positive writings and/or inspirational readings l Athletics of any kind and/or

regular activity l Eating a nutritional diet l Getting rest/enough sleep l Working a job they enjoy or finding motivation in what they do l Involvement in neighborhood, work and community groups l Praying l Meditating l Avoiding vices (all kinds—there are too many to list—you know what they are) l Avoiding negative influences and people l Removing people who withdraw from any of the above things in our lives l People who have great senses of humor l People who love music When I have come to surround myself with like-minded people, I find them praying to the same mantra and regimental tactics above. They own the power of

what they put in their mind, they are doing most of the above things naturally. They take these things more seriously than just behaviors, as they keenly understand the contributions these things make into their lives. They are making clear deposits into their energy banks. ROE: A new term learned, “Return on Energy” I recently sat through my own celebrity coaching guest, William “Bill” Mervin, Branch Manager for AnnieMac Home Mortgage, who so graciously shared inspiration and tactical wisdom to my attending students. His class “The Genius Zone” was a “talk” on many things focusing on time management and the best use of your professional time and work/life balance. The resounding fan favorite topic Bill spoke of was his “Return on Energy” (ROE)

section, where he discussed a lesson from his famous coach, Tim Braheem. Essentially, the ROE philosophy is about what you have for “Chips of energy at the end of the day” and I know for everyone this hit home. Many of us run ourselves to the end of our energy level every single day … on fumes, with nothing left in the tank and what does that leave us for our loved ones when we finally sit to enjoy our family time. Bill quotes that he has found himself at home at night, “there, but not there” sometimes when so exhausted just sitting with his family at the end of the day. I think all of us could relate to this feeling. Does this happen to you? Bill also suggested a reading on the same theory from Gay Hendricks, a psychologist, writer and teacher in the field of continued on page 75

SAVE THE DATE!

NCRA 27th Annual Conference Tuesday-Thursday, November 5-7 The DeSoto Hotel 15 East Liberty • Savannah, Ga.

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Preliminary Schedule of Events Subject to change

Monday. November 4 NCRA Board of Directors Meeting (all day)

Tuesday, November 5 8:00 a.m.-4:00 p.m. User and Sales Meetings 6:00 p.m.-7:30 p.m. Welcome Reception and Marketplace

Wednesday, November 6 8:00 a.m. Breakfast 9:00 a.m.-5:00 p.m. Conference Open 6:00 p.m.-9:30 p.m. Feature Event

Thursday, November 7 8:00 a.m. Committee Sign-Up & Breakfast 9:00 a.m.-4:00 p.m. General Sessions For more information and details, visit NCRAInc.org, call (630) 539-1525, or e-mail NCRA Executive Director Terry Clemans at TClemans@NCRAInc.org or NCRA Office & Members Services Manager Jan Gerber at JGerber@NCRAInc.org.

new to market

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OpenClose Announces New POS Offering OpenClose has scheduled a May release for the official rollout of its digital mortgage point-of-sale (POS) solution, ConsumerAssist Digital POS. This new integrated solution is a unique offering that combines a proven and mature 100 percent browser-based end-to-end LOS and PPE with new state-of-theart dynamic digital mortgage POS technology. The self-service POS capabilities that ConsumerAssist Digital POS allows lenders to automate and organize numerous tasks that would normally be performed in the back-office via the LOS, and push them closer to borrowers earlier in the origination process. As a result, workflow efficiencies increase, the lending process is sped up, costs are reduced and new business is captured at a higher rate and lower cost. “We feel that lenders leveraging the efficiencies of a single consolidated platform will be able to most effectively sustain and increase profitability in an environment with more competition for fewer loans and tighter margins,” said JP Kelly, President of OpenClose. Jason Regalbuto, CEO/CTO of OpenClose, said, “Borrowers today and in the future are expecting streamlined experiences with extreme ease of use and automation like Amazon and Uber offer. Mortgage origination and lending involve very complex processes. We think with ConsumerAssist Digital POS, we have significantly reimagined these processes and workflows for the future and the expectations that borrowers have. We’ve effectively closed the loop between POS and LOS.” Maxwell Partners With Optimal Blue on Real-Time API Maxwell has announced an integration with Optimal Blue. By leveraging Optimal Blue’s product eligibility and pricing API, Maxwell’s open Connected Apps platform now enables an intuitive, design-led

pricing experience for lending teams–thus reducing complexity and accelerating time-to-close. “Lenders on our platform tell us that transparent, accurate pricing is critical to achieve a satisfactory borrower experience,” said Lindsay Hunt, Head of Products at Maxwell. “Optimal Blue shares Maxwell’s dedication to delivering a bestin-class experience, and we view this aligned partnership as an opportunity to reinvent the mortgage experience for borrowers and lenders alike.” With this advanced integration, lenders can evaluate product and pricing scenarios and share customized data with potential borrowers. “Together, we are dedicated to creating an efficient, trustworthy and compliant loan experience that meets the diverse needs of today’s lending community,” said Bob Brandt, Vice President of Marketing and Strategic Alliances at Optimal Blue. “Data connections, like the one we’ve established with Maxwell, allow lenders to confidently–and accurately– source and disclose the various scenarios that today’s borrowers have come to expect.” John Paasonen, Maxwell’s Co-Founder and Chief Executive Officer, said, “We always prioritize innovative features and partnerships that will make the mortgage experience more personal, more streamlined and more delightful. For us, it’s about empowering lenders to deliver an experience that will set them apart in the market. Our partnership with Optimal Blue falls right in line with that goal.” Your turn National Mortgage Professional Magazine invites you to submit any information promoting new “niche” loan programs, new products or any other announcement related to the introduction of a new program, to the attention of: New to Market column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

Note: Submissions sent via email are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

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Day

Show Title

Description

Day/Time Airing

Recap of key economic events that took place over the past week and a look ahead to events that will potentially impact interest rates in the housing market.

Mondays at 7 a.m.

TUESDAY

The Mortgage Godfather

Ralph LuVuolo Sr., “The Mortgage Godfather,” shares his unique and innovative approach to mortgage origination. You better become a follower or else. It’s an offer you can’t refuse!

Tuesdays at 7 a.m.

Power Womnn with Class

Christine Beckwith gets up close and personal with the mortgage industry’s most inﬂuential women.

Tuesdays at 11 a.m.

Top Originator Secrets with Brian Sacks

Closing more, making more and still enjoying life!

Wednesdays at 7 a.m.

Homeownership Heroes

The Battle to Increase Military Homeownership.

Wednesdays at 11 a.m.

Strategies from top originators using alternative lending.

Thursdays at 7 a.m.

Quick Hits

Carl White’s simple strategies for a quick boost in your productivity.

Thursdays at 2 p.m.

Inside the MBA

Your bi-weekly window into what’s happening at the MBA.

Fridays at 11 a.m. bi-weekly

Inside the NAMB

Your bi-weekly window into what’s happening at NAMB.

Fridays at 11 a.m. bi-weekly

WEDNESDAY

THURSDAY

FRIDAY

Coming Soon... Alternative Lending: Top Originator Strategies

If you have a product or service for mortgage professionals you can be a sponsor for these shows. For more information about these sponsorships or Mortgage News Network custom video productions please send an email to Info@MortgageNewsNetwork.com or call Beverly Bolnick, VP-Sales & Marketing, at 516-409-5555 ext. 4 and she'll tell you how you can be part of the action!

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Master the Markets with Barry Habib

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MONDAY

Sponsor

The NAPMW Report NAPMW Presents Its 2019 Annual Education Conference “Jazzin’ Up Mortgage in the Big Easy”

DECEMBER n National Mortgage Professional Magazine n NationalMortgageProfessional.com APRIL 2019 2018 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

42 The NAPMW 2019 Annual Education Conference “Jazzin’ Up Mortgage in the Big Easy,” will be held Wednesday-Saturday, May 15-18, 2019 at the historic Hotel Monteleone in New Orleans. The Hotel Monteleone is one of the last great family-owned-andoperated hotels in New Orleans. Since 1886, five generations of Monteleones have dedicated themselves to making their hotel what it was—and still is—a sparkling destination in the heart of the French

Quarter. The Hotel Monteleone has long been a favorite haunt of distinguished Southern authors. Many of them immortalized the venue in their works. Ernest Hemingway, Tennessee Williams and William Faulkner always made The Hotel Monteleone their address while in the Big Easy. In June of 1999, due to Hotel Monteleone’s distinction among the literary elite, the Hotel was designated an official literary landmark by the Friends of the Library Association.

NAPMW 2019 Annual Education Conference Agenda (Subject to Change) Wednesday, May 15

Thursday, May 16

8:00 a.m.-4:00 p.m. NMLS CE With Ken Perry of The Knowledge Coop For more than 20 years, Ken Perry has been making the mortgage lending world a better place through his teaching and speaking. His signature move? Making mortgage learning easy and fun … really! Ken has been a relentless innovator in mortgage training, leveraging humor and technology to share his deep industry knowledge and unique perspective on today’s lending landscape with a wide audience. His company, The Knowledge Coop, was among the first to offer NMLS-approved continuing education to loan originators. They continue to provide engaging live and online learning opportunities. Ken is an accomplished and entertaining speaker who has brought his fun and insightful brand of training to hundreds of thousands of mortgage professionals, covering everything from compliance and ethics, to updates and forecasts, business development and strategy, and things like social media and cybersecurity, all with a keen eye on how it helps the industry do better business.

7:00 a.m.-8:30 a.m. Breakfast With Exhibitors

2:00 p.m.-5:00 p.m. Registration & Exhibitor Set up 5:00 p.m.-6:00 p.m. Opening Welcome Cocktail Reception With Exhibitors

8:00 a.m.- 8:30 a.m. First-Timers Meet & Greet 8:30 a.m.-8:45 a.m. Presentation of Colors—Veteran Recognition 8:45 a.m.-9:30 a.m. President’s Welcome With NAPMW President Laurel KnightKeane/PNPAC–First-Timers–Local Association Presidents 9:30 a.m.-9:45 a.m. Break/Expo Preview 9:45 a.m.-10:45 a.m. Keynote Speaker: Patrick Kelly, EVP National Sales, Informative Research How Using the Right Strategies, Existing Consumer Data and Technology Can Propel You Forward in 2019 The year 2019 could find the lending community in a crowded market for consumer capture. Stiff competition and market flux will require lenders to review the success of current strategies and potentially

adopt new ones to remain competitive. Join Patrick Kelly, Informative Research’s EVP of National Sales, and learn about the three key factors you need to consider–spend, P&L strategies, technology and proper utilization of data–that will help you hit the ground running in 2019. With more than 45 years of experience in the mortgage industry, Patrick has played an important part in building Informative Research’s current sales team. Having been with the company for more than five years, his expertise covers all aspects of the mortgage industry and process, from appraisal and operations to loan production and support. Previously, Kelly worked as a Vice President of Sales for both First American and CoreLogic Credco.

unstoppable mindset that can endure any market … overcome limiting beliefs or self-sabotage Develop your lead funnels effectively, and understand the power of habits and how they can propel your business forward. Kelly is a writer, speaker, EVP of Paramount Partners Group, and Founder of both Foundation to Sustainable Success and Big Voices—a women-empowered network. She has published two books Foundation to Sustainable Success and the recent best-seller, Big Voices. Although she has now found a way to balance and prioritize what’s most important in her life, it wasn’t always that way. Through both her platforms she shares her journey to create an extraordinary life.

10:45 a.m.-11:00 a.m. Break With Exhibitors

11:45 a.m.-12:45 p.m. Lunch & Learn With NAPMW Member Information Swap Meet

11:00 a.m.-Noon Ketrick Kelley, FBI Special Agent With Guest Tobi Libbra of IL Group 2019 Security Information for the Finance Industry Securing information in any industry is of utmost importance in today’s digital age. When we are speaking about the finance industry, information of both the institution and the consumer must be number one on the list. FBI Special Agent Kelley will be teaching the audience the things to look for regarding data breach, e-mail phishing, and other cyber scams and how to prevent them.

12:45 p.m.-1:00 p.m. Break—Expo Open

2:00 p.m.-2:15 p.m. Break—Expo Open

2:15 p.m.-3:15 p.m. Chris Avery, Vice President, First Tennessee Warehouse Lending D-E-V-E-L-O-P: This Handy Mnemonic Can Change the Way You Do Business Without the concept of “Development,” the world would be filled with wonderful ideas, but none would ever come to realization. There would be musical notes, but no songs. We’d have words, but no stories. Whether you need to develop your business, territory, team, community, family, or relationships; join me for an interactive discussion and learn how this mantra and its process is a way to produce results. Chris is responsible for the development, service, and retention of independent mortgage banking customer relationships to utilize our committed line of credit to close residential mortgage loans prior to investment purchase. He has succeeded rapidly in the industry lending more than $5 billion with 35 new relationships in the past 30 months and is a three-time Diamond Circle Award winner. First Tennessee Warehouse Lending services more than 270 customers nationwide, with close to $6 billion in approved lines.

2:30 p.m.-3:30 p.m. Michael Whitbeck, Managing Partner, UberWriter Solutions Field Guide to Underwriting … Loan Approval Simplified Michael Whitbeck is a subject matter expert on the process of mortgage underwriting and for more than 25 years, he continually built content and systems to teach a process to improve people’s underwriting skill set. Michael is the Co-Creator of UberWriter, which has been a huge success in the market.

Friday, May 17 8:00 a.m.-8:30 a.m. Breakfast With Exhibitors

3:30 p.m.-4:30 p.m. NAPMW General Business Meeting 4:30 p.m. Main Ballroom Closes 6:00 p.m.- 6:45 p.m. Cocktail Mixer With Exhibitors 7:00 p.m.-10:00 p.m. Awards Gala Dinner/With Guest MC and Speaker Patrick Kelly, Installation of 2019 NAPMW New Officers

Saturday, May 18

8:30 a.m.-10:00 a.m. General Session: FNMA, FHA, HUD, Etc. Panel Discussion A diverse panel of agencies will be addressing recent and upcoming changes within the mortgage industry in an interactive Q&A session with attendees.

9:00 a.m.-10:00 a.m. NAPMW Local Association President Training

10:00 a.m.-10:20 a.m. Break—Expo Open

10:00 a.m.-Noon National Board Meeting & 2019-2020 Strategic Planning Meeting All attendees are strongly encouraged to attend. Lunch will be provided!

10:30 a.m.-11:30 a.m. Kelly Resendez, Executive Vice President, Paramount Partners Group Jazz up your mindset and create an abundance of success! Create an

9:00 a.m.-10:00 a.m. NAPMW Local Association Treasurer Training

For more information, call (608) 886-9817, visit NAPMW.org or e-mail Admin@NAPMW.org.

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2:00 p.m.-2:15 p.m. Break—Expo Open

Noon-12:30 p.m. Lunch With Exhibitors–Expo Open

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12:30 p.m.-2:00 p.m. Dorinda Smith, Retired CEO & President, SunTrust Mortgage Join this interactive session, complete with audience Q&A to an amazing panel of Industry Professionals in operations, originations, sales, and vendors. Showing the intricacies of how each level brings it all together to make finance run smoothly!

1:00 p.m.-2:00 p.m. Cathleen Schreiner Gates, Executive Vice President of Sales & Marketing, Ellie Mae Cathleen Schreiner Gates has served as EVP of Sales and Marketing since March 2015. She oversees all sales, marketing, client management, professional services and customer support and training. She previously served as Ellie Mae’s Senior Vice President of Sales and Client Services from February 2012 to March 2015. From January 2010 to December 2011, she served as Senior Vice President of Sales and Client Services for Bersin and Associates, and from October 2008 to December 2010, she served as Vice President of Sales, Business Development and Client Success for Clickability Inc. She has held various senior management positions with MarketTools Inc. and Keynote Systems/Vividence Inc. She holds a Master’s of Business Administration in Finance from the Rutgers Graduate School of Management, and a Bachelor of Arts in French Literature from Douglass College-Rutgers University.

MBA’s Mortgage Action Alliance

nmp news flash

continued from page 16

at play that can contribute to local property tax hikes, and without major changes in the way a community runs public services, tax rates must rise to pay for them.” Tappable Equity Down for Second Straight Quarter

A Message From MAA Chairman Jeffrey C. Taylor continued on page 84

he Mortgage Bankers Association’s (MBA’s) National Advocacy Conference (NAC) took place earlier this month in our nation’s capital. More than 400 industry professionals from across the country gathered to discuss critical issues affecting the real estate finance industry, such as secondary mortgage market reforms (including the future of Fannie Mae and Freddie Mac), reforming and preserving the Federal Housing Administration (FHA), appropriate regulatory clarity to improve consumer access to mortgage credit (including activities of the Consumer Financial Protection Bureau and other regulators), increasing access to homeownership, and fortifying affordable rental housing and community development. Speakers at NAC included HUD Secretary Ben Carson, Senate Banking Committee member Sen. Doug Jones (D-AL), House Financial Services Committee member Rep. Greg Meeks (D-NY), Problem Solvers Caucus Co-Chairs Reps. Josh Gottheimer (D-NJ) and Tom Reed (R-NY), House Ways & Means Vice Chair Terri Sewell (D-AL), and Fox News Anchor Chris Wallace, in addition to a memorable reception with elected officials in the Great Hall at the Library of Congress. Once again, the NAC Hill Day’s tailored Commercial/Multifamily (CREF) track allowed our CREF members to hear directly from speakers that included Senate Banking Committee and Senate Finance Committee member Sen. Tim Scott (R-SC) and House Ways & Means Committee member Rep. John Larson (D-CT), along with key staff from House leadership, the Senate Banking Committee, the Senate Appropriations Committee, and the Senate H.E.L.P. Committee. Looking ahead, the Mortgage Action Alliance (MAA) will hold its annual Action Week, May 13-17. Action Week is dedicated to helping real estate finance professionals learn how to become more engaged in political advocacy that supports our industry. In 2018, 49 companies ran company-wide enrollment campaigns, 20 state and local associations recruited new MAA members, and 12 individuals spread the word on social media to their professional networks. This year, our goal is to recruit 100 organizations (companies, state/local associations and individuals) to run concurrent enrollment campaigns during Action Week. To sign up, or get more information, head to https://www.MBA.org/GetInvolved/Take-Action-With-MAA/Action-Week. As always, we encourage you to stay engaged and download the free MAA mobile app at MBA.org/MAAapp or search for “Mortgage Action Alliance” in the App Store or Google Play. MAA is working hard to make it easy to take action—and your elected officials need to hear from you.

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Jeffrey C. Taylor is Chairman of the Mortgage Bankers Association’s Mortgage Action Alliance. Jeffrey is also CoFounder and Managing Director of Digital Risk, a provider of mortgage risk, compliance and transaction management solutions. His is a frequent guest on financial television networks, such as Fox Business News and CNBC, as well as a source to top tier new outlets including The Wall Street Journal, sharing keen insights on the U.S. mortgage market and the economy.

Tappable equity, which is the amount available for homeowners with mortgages to borrow against before hitting a maximum 80 percent combined loan-to-value ratio, declined by $229 billion from the third to the fourth quarter of 2018, according to new data from Black Knight Inc. This marks the second consecutive quarter of declines. Tappable equity reached a high of just over $6 trillion in the second quarter of 2018, but ended 2018 at $5.7 trillion. The primary source of this decline was California, where the average home price fell by $14,600 over the last six months of 2018. Black Knight added that California accounted for more than 60 percent of the total national reduction. “The fact is, homeowners have been tapping equity less and less,” said Ben Graboske, President of Black Knight’s Data & Analytics division. “In the fourth quarter of 2018, equity withdrawals were down 16 percent year-over-year. Just $61 billion in equity–slightly more than one percent of all available tappable equity–was withdrawn via cash-out refinances or HELOCs, the smallest share of available equity withdrawn since the housing recovery began in 2012. HELOC volumes have been on the decline for the better part of three years now, as rising shortterm rates made tapping equity via a line of credit more expensive.” Moody’s: GSE Reform Can Have Negative Credit Implications

enterprises (GSEs) in a postconservatorship era could result in weakened funding profiles for non-bank mortgage companies, according to a data analysis published by Moody’s Investor Services. Moody’s currently rates both Fannie Mae and Freddie Mac as “AAA Stable” and noted that any changes over the next two years would most likely be modest. But the ratings agency warned that nonbank mortgage lenders could experience :a weakening in their credit profiles” if GSE reform in enacted that dilutes the predominant advantage now held by the GSEs, adding that “the effects on residentialmortgage-backed securities would depend on the actions chosen.” While Moody’s did not see any problem with banks in this post-conservatorship era– the ratings agency said banks “would benefit from any reduction in the role of GSEs”–it also warned that credit implications for homebuilders and mortgage insurers could turn negative owing based on the higher costs and lower availability for mortgages once conservatorship was over. “If the market role of the GSEs is materially revised or diminished in the next several years, such a development could substantially change the competitive dynamics of housing finance,” said Senior Vice President Warren Kornfeld, who co-authored the new data analysis. “Some companies could benefit as new opportunities develop or their pricing power improves, while others could face difficulties as the historic drivers of their franchises decline.” Your turn National Mortgage Professional Magazine invites you to submit any information on regulatory changes, legislative updates, human interest stories or any other newsworthy items pertaining to the mortgage industry to the attention of: NMP News Flash column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

A diminished role for the government-sponsored

Note: Submissions sent via email are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

Uniqueness of the program: The ﬁrst ever industry program that teaches you a proven step-by-step recruiting process Goal of the program: To provide step-by-step training and resources for any leader to recruit, manage and lead a high performance production originator team l How to build a high performance sales origination team l How to recruit top LO talent l The most powerful interview questions that uncover LO success DNA l How to leverage LOA’s and Junior LO’s l Build a new loan ofﬁcer training program for your company l How to coach your LO’s to high performance l Build and implement a success plan that works l Create accountability standards for performance that raise company production

l How to benchmark sales growth on a predictable path l How to consistently keep your team motivated for excellence and high performance l How to achieve personal production, leadership, recruiting, managerial and life balance (I will dig deep to answer this one, but it looks real good) l How to get the most out of your support team l How move towards leadership and away from task management l How to run highly effective sales meetings

Early Registration Expires Thursday, April 25, 2019.

Extra $600 savings with code nmpU2

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Topics for the program:

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Who the program is for: Company owners, branch managers, sales managers, anyone managing an origination team or looking to build one

NAMMBA CONNECT 2019 Wednesday-Saturday, April 24-27 The Westin Buckhead Atlanta 3391 Peachtree Road NE, Atlanta

ONNECT 2019 provides you with an opportunity to network with mortgage and real estate professionals from across the real estate finance industry and will feature some of the top speakers in the mortgage and real estate industry. NAMMBA CONNECT is not just an event, it is an experience designed to connect you with industry stakeholders, world class trainers and peers from across the country.

CONNECT 2019 Agenda Agenda subject to change

Wednesday, April 24 4:00 p.m.-7:00 p.m. CONNECT LIVE (Live Music) Get a jump start on CONNECT 2019 by picking up your registration badge the evening before the conference starts and enjoy free food, free drinks and networking while listening to live entertainment featuring a DJ.

Thursday, April 25 7:00 a.m.-8:30 a.m. Registration 8:30 a.m.-9:15 a.m. Welcome to Connect 2019 Join NAMMBA Founder/CEO, Tony Thompson, CMB in the Opening Session, which includes presentations featuring the association’s

achievements over the past year, as he officially kicks off CONNECT 2019 and sets the tone for two-and-a-half amazing days of motivation, education and learning to help attendees take their career and business to the next level. 9:15 a.m.-10:15 a.m. State of the Industry: CEO Perspective Featuring: Kristy Fercho, EVP, President of Mortgage, Flagstar; Lawrence Bailey, National Retail Sales Manager, JP Morgan Chase; and Tol Broome, President, BB&T Home Mortgage The pace of change in mortgage lending is accelerating and traditional business models are beginning to be challenged. To stay competitive lenders, need to understand the key trends that will impact them today, in the future and develop a business strategy that puts the customer at the center, so they are prepared to adapt to their everchanging needs and expectations. In this session, you will hear from some of the industry’s top CEO’s who are reinventing the consumer

experience while at the same time shaping the new business model of the future. 10:15 a.m.-10:30 a.m. Break 10:30 a.m.-11:30 a.m. Session: Carl White, Chief Strategist, Mortgage Marketing Animals Carl White is the Founder/Chief Strategist of The Mortgage Marketing Animals, and also the host of the number one Podcast for Loan Officers in America. Carl will show attendees specific step-by-step instructions on how to drastically increase their monthly loan production and income, while working only 32 hours per week. He does this by teaching people to hyper-focus their efforts, and to stop doing wasteful activities that they are currently doing that are not producing measurable results. By following the strategies, will be able to regain the freedom to do the things they want to do. Worrying about when and where the next deal will come from will no longer be a concern. 11:30 a.m.-1:00 p.m. Lunch Break at The Pavilion 1:00 p.m.-2:15 p.m. A Conversation With the GSE’s: Trends and Current Events Impacting the GSE’s Featuring: Danny Gardner, VP Affordable Lending & Access to Credit, Freddie Mac; and Jonathan Lawless, VP Product Development and Affordable Housing, Fannie Mae Join senior executives from Fannie Mae, Freddie Mac and Ginnie Mae to get an update on latest products, programs and initiatives the GSE’s are embarking upon to help make the dream of homeownership become reality for more consumers while helping companies to improve the client experience. 2:15 p.m.-2:30 p.m. Break 2:30 p.m.-3:30 p.m. LO Comp: Something Has to Give Featuring: Lori Brewer, Founder & CEO, LBA Ware The CFPB Acting Director, Mick Mulvaney, recently received proposed changes to the LO Comp rule submitted industry associations. With many companies experiencing tighter margins and competitive pressures from fintech lenders entering into the industry, will 2019 be the year of change for LO Comp? Join a panel of distinguished experts who will talk about the future of LO Comp, the proposed rule changes and most importantly the potential impact to loan originators and mortgage lenders of all shapes and sizes. This is one session you do not want to miss. 3:30 p.m.-4:00 p.m. Break 4:00 p.m.-5:00 p.m. The Future of Wholesale and Correspondent Lending Featuring: Kevin Peraino, Chief Lending Officer at Paramount Residential Mortgage Group Inc.; Allen Middleman, SVP, Freedom Mortgage; and Brian Vieaux, SVP, Third-Party Originations, Wholesale & Correspondent Lending, Flagstar Bank Wholesale lending has been one of the fastest growing channels in the mortgage industry for the last three years. Additionally, as the economy improves, some brokers are looking to become lenders and grow their retail platform as a mortgage banker giving creating more opportunity for correspondent lenders. This session will feature of panel of senior executives from the wholesale and correspondent channel providing their perspective on the future of these two channels.

5:00 p.m.-6:00 p.m. Expo Pavilion Featuring the “Cocktails & Connections Reception” and drinks and networking in the Expo Pavilion. An exciting kick-off celebration for conference attendees to enjoy refreshments, networking and an exclusive preview of The Pavilion, featuring more than 40 exhibitors showcasing technology tools, resources and products to help attendees grow their business or career, and Welcome Remarks from Tony Thompson, Founder & CEO of NAMMBA. 6:00 p.m.-8:00 p.m. Partner Networking Event New to CONNECT 2019, we’ve created a special time for you to connect with all of our sponsors, meet new friends or simply enjoy the sites of beautiful Buckhead, Atlanta. 6:30 p.m.-8:00 p.m. NAMMBA Private Dinner (Invitation Only)

Friday, April 26 7:30 a.m.-6:00 p.m. Registration 8:30 a.m.-9:00 a.m. Opening Remarks Tony Thompson, NAMMBA Founder & CEO recaps the first day of CONNECT 2019, while setting the stage for an empowering, informative and exciting day of speakers and sessions. 9:00 a.m.-10:30 a.m. mPower: Closing the Gender Divide Moderated by Marcia M. Davies, Chief Operating Officer, Mortgage Bankers Association and Founder, mPower; and featuring Claudia Merkle, President, National Mortgage Insurance Corporation; Susan Stewart, Chief Executive Officer, SWBC Mortgage; and Cerita Battles, SVP-Head of Retail Diverse Segments, Wells Fargo Home Mortgage This leadership panel, led by Marcia M. Davies, will address today’s gender equality challenges and discuss workplace solutions. These senior executives will share inspiring professional stories and highlight what they are doing to help eliminate the gender gap. This is an important dialogue, leaving you with invaluable lessons learned and new ways you can help your company be committed to gender equality. Men and women are invited to attend this special session. 10:30 a.m.-10:45 a.m. Break 10:45 a.m.-11:30 a.m. Session Featuring: Casey Cunningham, Founder & CEO, XINNIX, The Mortgage Academy; Erica Holmes, Vice President Operations, ISGN Solutions; Julie Piepho, CMB, CML, President-National Operations, Cornerstone Home Lending; and Patrick Carey, SVP, National Fulfillment Executive, Consumer Lending, Bank of America With more than 30 years of diverse retail mortgage banking experience, Casey Cunningham is one of the most influential visionaries in the industry. A close advisor to prominent executives across the nation, her ability to lead and transform is without rival. Cunningham’s passion for professional standards, relevant education, sales productivity and leadership accountability has come of age at a time when technology and demographic changes are reshaping our industry. 11:30 a.m.-12:30 p.m. Mega Trends Impacting Your Business! Featuring: Rob Chrisman, Capital Markets Consultant, Chrisman Inc. Hear some of the industry’s renowned practitioners discuss the current state of the mortgage industry and have open dialogue on all of today’s important issues–loan officer compensation, industry

consolidation, marketing agreements and regulations impacting our industry. This will surely be one of the conference most anticipated sessions. This session will give you a glimpse into what the future of our industry will look like over the next couple of years. 12:30 p.m.-2:00 p.m. Lunch Break at The Pavilion 2:00 p.m.-3:00 p.m. Session Featuring: Eric Thomas, CEO, Eric Thomas and Associates LLC The story behind Eric Thomas who was a high school drop-out, would become one of the greatest inspirational stories in the modern era. Very few individuals on the planet can say they’ve overcame all odds and reached massive success. For Eric Thomas, he is surely one of those people who experienced incredible challenges along the path of life. Born in Chicago, Illinois, he spent most of his childhood and teenager years in Detroit. Life wasn’t easy at all for him as he faced adversity and not knowing his father throughout his childhood. For two years, Eric Thomas was homeless and lived in abandoned buildings. Just to survive, he would eat out of trash cans. Today, Eric Thomas, Ph.D. is a critically-acclaimed author, world-renowned speaker, educator and audible.com Audie Awards Finalist. “ET,” as he is better known, has taken the world by storm, with his creative style and high-energy messages. 3:00 p.m.-3:15 p.m. Break

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3:15 p.m.-4:00 p.m. Session Featuring: Cindy Ertman, Success Strategist, The Defining Difference One of the great leaders, authors, coaches and successful success strategists shares her success secrets that will help you define your life and put you back on track to living a purposeful, balanced, financially fulfilled and happy life. Cindy has helped build one of the most successful mortgage companies in America, RPM Mortgage. She has been acknowledged as one of The Top 100 Most Influential Mortgage Executives in America by Mortgage Executive Magazine– four years in a row. She also serves on the faculty for one of the nation’s largest mortgage training companies. 4:00 p.m.-5:00 p.m. Expo Pavilion Spend time with our partners and vendors exploring all the tools and resources you need to take your business and career to the next level. 7:00 p.m.-10:00 p.m. NAMMBA Awards Gala/Live Music Featuring: Keynote Speaker Sue Woodard, Chief Customer Officer, Total Expert Honoring NAMMBA’s “Top 100 Originators” and NAMMBA’s “Best Places to Work,” take part in a formal evening event celebrating the achievements of the top diversity originators in the country. This exciting evening will entail a keynote and live entertainment by one of Atlanta’s most well-known bands.

Saturday, April 27 NAMMBA Sales Academy Join us for a special day designed to help originators who want to grow their purchase business. This day is designed to show you how to go to the next level by learning from successful originators who are already doing it. We are bringing some of the best originators from across the country to cover topics including–how to gain more realtor business, breaking into the builder market, niche products (203k and non-QM lending) time management strategies and more. 8:00 a.m.-9:00 a.m. Registration

9:00 a.m.-9:45 a.m. Sales Session #1A: Win by Noon Featuring: Todd Bookspan, Founder, Win By Noon Todd Bookspan is the founder of Win By Noon, a business planner designed to help sales professionals change their daily focus and find success in reaching their targeted goals. Todd is also a business coach and mentor to top sales performers and business executives. Todd is frequent speaker at industry events, and co-host of the weekly Mortgage Coach Productivity Mastermind. This session is will help you develop a game plan to increase productivity by completing nonrevenue generating task at the start of your day. 9:00 a.m.-9:45 a.m. Sales Session #2A: Realtor Mastermind Featuring: Tommy Jones, Loan Officer, SWBC Mortgage Tommy Jones is a top producing Loan Originator for SWBC Mortgage in Dallas, Texas. In a competitive market, Realtor referrals are critical for an Originator’s success. In this class, Tommy will show you a system he uses to connect with new Realtors by inviting them to participate in a Realtor Mastermind Group with their peers. This system results in Tommy building a meaningful relationship with his new agents and getting new loans from them. 9:00 a.m.-9:45 a.m. Sales Session #3A: Out of the Box Strategies to Build Your Business Featuring: Chris Reshetar, Branch Manager/Loan Officer, NFM Lending Chris Reshetar, Branch Manager for NFM Lending will show you how to develop relationships with Real Estate Agents by not cold calling on them, but using out-of-the-box strategies to add value to agents. As a top producer, Chris receives the majority of his business from Realtor referrals. However, these referrals are the result of Chris adding value to his agents by partnering with social media, creating radio shows and other unique methods to build relationships with top producing agents. This session is for those who are looking for unique ways to generate Realtor referrals. 9:00 a.m.-9:45 a.m. Sales Session #4A: Best Practices for Asian LOs Featuring: Dick Lee, EVP, Drew Mortgage Associates; Michelle Kim, Mortgage Consultant, HSBC; and Ace Watanasuparp, Regional Vice President of Residential Lending, Citizens Bank This session is designed for participants to hear top Asian originators from across the country share best practices on how to take their business to the next level for those who are marketing to this segment or looking at doing business with this group of homebuyers. The panelist will share tactics you can implement to build stronger relationships with Asian realtors and consumers, thus increasing your production. 9:45 a.m.-10:00 a.m. Break 10:00 a.m.-10:45 a.m. Sales Session #1B: Create A Niche With 203K Lending Featuring: Indu Kapoor, Branch Manager/Regional Renovation Manager TX, Guaranteed Rate Indu Kapoor, Branch/Regional Manager for Guaranteed Rate is one of the top 203K originators in the country. The rehabilitation market is projected to continue to grow over the next several years with buyers opting to stay in their homes versus purchasing new ones. Indu will share with you resources she uses to develop partnerships to help her create a niche in this growing market. 10:00 a.m.-10:45 a.m. Sales Session #2B: Making a Move From Banker to Broker? Featuring: Shawn C. Williams, President at Fortis Mortgage Thinking about opening your own mortgage brokerage? Shawn

Williams, President, Fortis Mortgage is a seasoned mortgage professional who recently transitioned from mortgage banker to starting his own mortgage brokerage. In this session, Shawn will walk you through the process from start to finish on the steps you should take when transitioning from banker to broker.

11:00 a.m.-Noon Keynote Speaker: To be Announced

10:00 a.m.-10:45 a.m. Sales Session #3B: Best Practices for Latino Loan Originators Featuring: Chris Roberts, Vice President, Senior Loan Officer, Regions Bank This session is designed for participants to hear top Latino originators from across the country share best practices on how to take their business to the next level for those who are marketing to this segment or looking at doing business with this group of homebuyers. The panelist will share tactics you can implement to build stronger relationships with Latino realtors and consumers, thus increasing your production.

1:30 p.m.-2:45 p.m. Top Producer Panel … The Next Level: Success Secrets of the Best LO’s in America Featuring: Robin McCauley, Loan Officer, Caliber Funding; Alex Varela, Branch Manager, Prime Lending; and Rocio Portella, Loan Officer, Annie Mac Home Loans Why is it so many Loan Officers get stuck at four or five loans a month, even with decades of experience? Stuck in a seemingly never-ending feast or famine cycle doing nine or 10 one month, followed by one or two the next? You spend one month filling the pipeline and then the next working ridiculous hours just getting those deals to the finish line. Hear from some of the country’s top professionals on how they’ve built a business to compete in a tough purchase environment.

10:00 a.m.-10:45 a.m. Sales Session #4B: The Anatomy of a Top Producer Featuring: Alex Varela, Branch Manager, PrimeLending Before you become a top producer, you must become a great practitioner with the X’s and O’s to scale your business. Join one of the top originators in the country as he personally walks you through how he builds his business by becoming the best originator in his market. Alex will share steps you can take to strengthen your foundation and tools you can use to make sure you can win every deal. 10:45 a.m.-11:00 a.m. Break

Noon-1:30 p.m. Lunch Break at The Pavilion

2:45 p.m. Closing Remarks CONNECT 2019 adjourns … many thanks to our sponsors and exhibitors. We look forward to seeing everyone return in 2020!

Sunday, April 28 9:00 a.m.-Noon Board of Directors Meeting

For more information, visit NAMMBA.org. 49

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Independent Mortgage Originators By Andy W. Harris, CRMS

Nexa Mortgage: Brett Weiss Company NMLS#: 1660690/Personal NMLS#: 227468 NexaMortgage.com

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his month, I’m interviewing Brett Weiss from Nexa Mortgage, a full-service mortgage firm based in Chandler, Ariz.

Brett, tell me a little about yourself and your career. Brett Weiss: I got started in this business back in 2003 actually as a Mortgage Broker. I opened my own shop for as a Broker in 2005, which went well but then the crash hit us all and we had to make adjustments. I opened the first retail branch of Freedom Mortgage in the Western U.S. in 2008. Even during the crash, we found a niche and thrived. But then in the fall of 2010, Freedom screwed me on my branch pricing and I shut it all down to flip houses, which I had been doing on the side. I got out of lending altogether and eventually got my real estate license here in Arizona so I could handle my own buying and selling of the flips. As those slowed down, I transitioned into being a “normal” agent, working with buyers and sellers but didn’t really like it. And, thankfully, got back into lending about two-and-a-half years ago, albeit with a banker, but back to my true calling! I understand you are a Mortgage Broker now after previously working as a Mortgage Banker. What else motivated you to make the change? Brett Weiss: As I mentioned earlier, I got in this business as a Broker and loved it. Becoming a Mortgage Banker was a symptom of the market and the misnomers within the media and then the public perception. Once I saw the opportunity to once again be a Broker, I was all in, found the right fit for myself and that was that. The motivation was being able to once again say “YES” more times than not and the value in lower rates and fees I can offer to the clients. What would you say so far are the biggest differences you’ve experienced coming from the retail side since you were a Mortgage Broker before? Brett Weiss: It’s becoming very well known that our rates are just way lower than any Banker … bottom line. It’s math, not magic. And clearly the ability to shop every loan for the best fit is amazing for everyone involved. The expanded guidelines, the

plethora of products is just something you don’t have as a Mortgage Banker. How would you compare pricing when compared to the Mortgage Banker world? Brett Weiss: My volume has doubled, that’s all I have to say. Hahaha … next question. What are you seeing in your local market on trends, inventory, and consumer/realtor mortgage education? Brett Weiss: Honestly, we as Mortgage Brokers are gaining more and more market share daily. It’s great for the consumer and it’s due to the ongoing #brokertakeover movement I’ve started here in Phoenix. I know the myth as you mentioned of losing control as a Mortgage Broker is finally being exposed to the market and quite the opposite. What are your experiences on controlling the process? Brett Weiss: Complete fallacy. I can call any underwriter at any lender at any time on any loan. It’s all about direct communication and I also have my Account Executive on my side working towards getting every loan closed possible. Quite frankly, it’s significantly better than the couple of banks I worked at in the past. Not a concern one bit. What would you say are your best forms of marketing today to generate new business? Brett Weiss: I do a lot of events here locally, social media is a decent outlet, and good old fashioned word of mouth is always effective!

Are you an Independent Mortgage Broker? Do you have something you’d like to share? Reach out to me at AHarris@VantageMortgageGroup.com for future article considerations. Andy W. Harris, CRMS is President and Owner of Lake Oswego, Ore.-based Vantage Mortgage Group Inc. and Past President of the Oregon Association of Mortgage Professionals. He may be reached by phone at (877) 4960431, e-mail AHarris@VantageMortgageGroup.com or visit VantageMortgageGroup.com.

heard on the street

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network office business managers, the MottoSpark platform automatically tracks payments, distributions and cost allocations with co-marketing partners, while providing realtime compliance reports. Mortgage Coach and SocialSurvey Partner on Improving the Borrower Experience

Churchill Mortgage Debuts Joint Venture Title Company

Churchill Mortgage is teaming

Floify Partners With Plaid on Automated Borrower Asset Reports

Floify has announced that it has joined forces with Plaid, a technology platform and data network. The partnership will enable lenders and Loan Originators to order and receive Plaid’s Asset Reports from the Floify point-of-sale solution, by having consumers connect their bank account through Plaid. Once integrated with Floify, Plaid can be configured to automatically trigger a request for borrower asset reports upon the conversion of a prospect into a loan file, or manually trigger from an active loan file. After a Plaid request is initiated, borrowers are prompted to select their financial institution

American Mortgage Consultants Acquires String Real Estate Information Services

American Mortgage Consultants Inc. (AMC) has announced its acquisition of String Real Estate Information Services LLC, a McLean, Va.-based provider of title search outsourcing services. The financial terms of the acquisition were not disclosed. String, which has approximately 650 employees in the U.S. and India, will retain its separate branding and will continue to be led by its existing senior management team, including Prashant Kothari as President. This is the second acquisition this year for the New York Citybased AMC, which picked up Meridian Asset Services LLC in January. “The acquisition of String further enhances AMC’s ability to offer a comprehensive set of title quality control services to participants in the secondary mortgage market with the addition of title search services and other mortgage business process outsourcing capabilities,” said AMC Chief Executive Officer Michael Franco. “We realize that in today’s mortgage market, cost efficiency and centralization of vendor offerings are critical. Combining String’s title service offerings and labor efficiencies with AMC’s innovative technology solutions will provide continued on page 69

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LoyaltyExpress, a provider of SaaS-based lending and marketing automation solutions, has announced that it has renamed the company to Volly. The new platform and name represent the combination of innovative technology and marketing services that improve lending processes and the competitive necessity to deliver time-sensitive, high-impact communications and lending services from Loan Officers to consumers. “One of the biggest challenges today for bank and mortgage executives is the inability to seamlessly manage end-to-end processes for digital and direct mail marketing, robust customer engagement, and compliant lending requirements,” said Jerry Halbrook, Chief Executive Officer of Volly. “As a result, enterprisewide processes must currently be cobbled together through multiple vendor technology platforms and service providers.” The Volly Platform includes expansive technology and integrations that dynamically support marketing automation, CRM, point of sale, portfolio retention, digital and direct-mail marketing management. “It’s all about enabling our clients to provide intelligent communications and lending services that are responsive to their consumers,” Halbrook said. “That’s why we chose ‘Power the Journey’ for our corporate tagline. In today’s ultracompetitive lending environment, borrowers demand and expect immediacy throughout the entire lending process–which requires organizations to have one view of each customer’s entire relationship throughout divisions and departments. The Volly Platform will uniquely deliver this seamless experience and comprehensive profile so that each customer’s journey is satisfying and efficient.”

and enter their credentials via Plaid’s front-end module. Upon successful login, the borrower’s asset report is securely transmitted and synced to their corresponding loan file, which saves valuable time in the loan origination process. “Floify is thrilled to partner with Plaid as we continue to use our automation technology to improve the mortgage process for loan originators and borrowers,” said Dave Sims, Chief Executive Officer of Floify. “Our integration with Plaid further simplifies and accelerates loan origination for mortgage professionals who combine the power of Floify point-of-sale system with Plaid’s Day 1 Certainty-approved digital asset verification functionality.”

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Mortgage Coach has completed an integration with SocialSurvey to bring the trust established with reputation managements and the commitment created with accurate loan advice together. The partnership benefit, created by Mortgage Coach and SocialSurvey, offers an instant view of a lending professional’s most recent positive review within every Mortgage Coach Total Cost Analysis (TCA) and a link to more reviews, without leaving the TCA. “Studies have shown that 88 percent of consumers trust online reviews as much as they trust recommendations from friends and family,” said Scott Harris, Chief Executive Officer of SocialSurvey. “Integrating LO reviews into the Mortgage Coach TCA delivers a better borrower experience to build trust to move forward in the transaction faster and increases immediate borrower referrals.” Delivered digitally to a mobile device or accessible on the Web, borrowers receive a Total Cost Analysis with simple graphs and personalized video narration, along with short- and long-term financial details on multiple loan options supporting the homebuyer’s specific goals. The borrower can view not only pertinent financial advice but also social proof of the integrity, quality and customer satisfaction rating from previous homebuyers who have worked with the Loan Originator. “By having SocialSurvey results embedded directly in the TCA experience, no one will need to search for reviews to benefit from them anymore,” said Joe Puthur, President of Mortgage Coach. “Every TCA presentation will include client reviews, combined with tailored loan options, measurably helping a Mortgage Coach-powered professional to convert more loans, more often.”

LoyaltyExpress Rebrands as “Volly”

with American Home Title to launch Churchill Title Solutions, a title company that will provide borrowers with the option of pursuing a digital mortgage. The new joint venture, which will operate in all 50 states, aims to expedite lenders’ closing times while addressing potential security gaps within the mortgage process. Churchill Title Solutions will be headquartered in Charlotte, N.C., where American Home Title is based; Churchill Mortgage is headquartered in Nashville. “With the engagement and commitment of both companies’ staff and leadership, we’ve established a synergistic joint venture that will allow Churchill Title Solutions to become an integrated part of Churchill’s streamlined origination process,” said Jack Goisse, president of American Home Title. “This joint venture will employ solutions to ensure efficiency, security and transparency to all stakeholders providing a consistent and stress free experience.” “There is a vital need within the mortgage industry to centralize the various siloes through which sensitive information travels and create a consistent, streamlined borrower experience,” said Matt Clarke, CFO and COO of Churchill Mortgage. “Considering our companies’ mutual dedication to trust, honesty, hard work and integrity, this joint venture will build upon our strengths and help us better serve the mortgage industry as a whole.”

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Sharpening Your Point of Sale Bringing Technology to the Point of Sale By Rick Grant

t wasn’t that many years ago that if a consumer wanted access to credit to buy a home, they would submit to whatever process a mortgage lender required in order to secure it. There was no choice available to the borrower and no particular focus on the borrower’s experience. In hindsight, that seems archaic, medieval even. If only the Inquisitors had such elegant methods of torture available in their day. It wasn’t really that bad, of course. We just didn’t care about it. Today, we are part of a more enlightened industry, where a good borrower experience is not just a compliance mandate, but also an important competitive differentiator. How the borrower feels about the loan origination process matters and it matters from the very first moment of contact with the lender. Which brings us to the Point of Sale (POS). These technologies promise to deliver a fully-digital and automated loan origination service that will allow prospective borrowers to self-serve their way to new home financing. It’s a big promise, but it comes in response to a serious industry problem. Fannie Mae research shows that recent homebuyers believe gathering all of the necessary financial information is the most difficult part of getting a mortgage. More than a quarter say that paperwork reduction is critical to making the process easier. Even a cursory look at this part of the mortgage business will reveal dozens of competing technologies, all jostling for position in what has become the fastest growing segment of the industry. Fintech firms have jumped in with both feet. As Garth Graham, Senior Partner at STRATMOR Group, points out, “anyone who could get a couple of Loan Officers to use their software could demonstrate a viable product.” That, in and of itself, is no reason to discount those players. Thirty years ago, many of the loan origination systems in use today were getting their start in the very same way. So, with

those that how then can a lender determine which companies will succeed and avoid forming partnerships can’t? To find out, I called upon a man who makes his living evaluating mortgage technology business models and helping the strongest competitors find acquirers. Clues that a technology will succeed John Guzzo is Managing Director at Berkery, Noyes & Company LLC in New York. His company has been instrumental in many of the M&A deals that have occurred in our industry over the past two decades. Guzzo is currently tracking about 34 different companies in the emerging POS space. But he adds that many of the LOS developers also compete for mindshare here. He says he’s currently fielding frequent calls from companies that claim to be developing the new breed of POS. While he’s not ready to divulge his list of winners or losers, he was willing to share the six attributes that tell him when a company will make a good acquisition target. Knowing which firms are likely to be attractive to acquirers will provide useful clues to lenders seeking POS technology. Here are John Guzzo’s six key attributes for evaluating a mortgage technology firm: 1. Revenue growth: The company should be demonstrating year-over-year revenue growth. Guzzo said he likes to see 20 percent to 25 percent year-over-year growth for a number of years. In the POS space, where companies are typically generating under $15 million a year in revenue, that may not be a lot by some standards, but it is a good sign. 2. Proprietary technology: A strong company will have developed its own technology and be the owner of the associated intellectual property. Many companies that resell technology will position themselves as technology firms, but Guzzo says that’s not technically true. This is critical, he says, continued on page 54

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because it can be challenging to build upon someone else’s technology, making it very difficult to meet changing customer needs and expectations. 3. Scalable technology: Everyone knows a technology that cannot scale is a non-starter, but Guzzo points out that there are actually two dimensions to scalability. First is technological, which is what we normally think of here. It means you can add new products and customers without having to change out the platform. If a tool can scale technologically, a larger firm may find it attractive to apply to its larger client base. The second dimension is operational scalability. Some companies, such as Appraisal Management Companies (AMCs) may

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develop their own technologies, but they do so to enable a service provided by staff. Knowing what it would take to scale operationally may also be important to an acquirer of a technology firm. 4. Low customer concentration: No single customer should generate 25 percent or more of the company’s overall revenue. If they do, growth numbers may not mean what an acquirer thinks they mean and the loss of a single customer could significantly reduce the value of the company. 5. A motivated management team: When everyone on the management team is passionate, motivated, and hungry for success the firm is much more attractive to acquirers. This makes sense as few would choose to

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partner with a firm when the management is simply looking for an exit strategy. While Guzzo admits this can be rather subjective, he has learned over the years to see the signs. 6. EBITDA margins: Guzzo said he put Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) last, even though many acquirers may look here first, because he knows that growing a company may require management to reinvest earnings in order to capture more market share. Guzzo said a growing company that is winning market share is often valued on their revenue multiple and not an EBITDA multiple. Most of the companies Guzzo and his team evaluate won’t score high marks in all six categories, but he says that if

you find a company that does well in four or five you may have found a winner. “If I find a company that has all six, that’s a real gem of a business,” Guzzo said. Why lenders are driven to find a POS partner Finding the right technology partner is a somewhat different exercise from finding a company to acquire. Even so, lenders competing for mortgage borrowers today are driven to find good digital mortgage partners. It’s a competitive necessity. Or is it? According to the J.D. Power 2019 U.S. Primary Mortgage Origination Satisfaction Study, only three percent of mortgage customers rely exclusively on digital self-service channels in the origination process. As the company’s Financial Services Practice Lead John Cabell put it: “Technology alone is not a magic bullet in this market; the key is knowing where to continued on page 56

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leverage it and where to layer in more traditional forms of oneon-one support.” So, is a fully digital POS really a requirement today or is this drive the result of clever marketing? To find out, I called upon Garth Graham, a 30-year industry veteran and Senior Partner at STRATMOR Group. “Adoption of digital mortgage software (which includes POS) has doubled in the past year,” Graham said. “It’s becoming table stakes now, so lenders can engage customers in a way that’s more in line with their expectations. The bottom line is these tools impact customer satisfaction.” And that, says Garth, is why every lender is looking at them today. According to the 2018 STRATMOR Tech Insights Survey, the number one reason mortgage executives are spending money on digital mortgage capabilities is to drive higher levels of satisfaction. And digital lending is getting results. Graham says recent ROI studies his consultancy has been hired to perform clearly show that digital mortgage technologies are resulting in a substantial increase in the net promoter score—a measure of borrower satisfaction that reveals how likely a customer is to refer a lender. The problem, Graham says, is that only 50 percent of lenders have an effective way to measure the impacts of their actions to determine which ones are actually driving higher satisfaction. Even so, when it comes to these technologies, Graham says ROI studies show that it’s very hard for a lender to spend too much money on technology as long as the ROI is being realized. Besides, there’s plenty of evidence to show that tech isn’t really all that expensive anymore, at least not in relation to the lender’s overall costs. While large banks have significantly increased their technology spend of late, which now accounts for about 16 percent of overall costs, most other segments are still at 10 percent, with some as low as

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“Adoption of digital mortgage software (which includes POS) has doubled in the past year. It’s becoming table stakes now, so lenders can engage customers in a way that’s more in line with their expectations. The bottom line is these tools impact customer satisfaction.” —Garth Graham, Senior Partner, STRATMOR Group

“Today, we need three or four systems working together to be as efficient and productive as we can be. But, the ultimate tool would keep a Loan Officer in a single system all day long.” —Anthony Gioia, Senior Mortgage Loan Originator, Oceans Lending

“A strong company will have developed its own technology and be the owner of the associated intellectual property.” —John Guzzo, Managing Director, Berkery, Noyes & Company LLC

four percent of total costs. Tech costs even less when you look at it from a cost-to-close perspective. The Mortgage Bankers Association (MBA) still has total cost to close hovering near $8,000, but even the largest

banks are spending less than $1,500 of that on tech. For smaller institutions, it’s closer to $300-$500, according to MBA & STRATMOR peer group surveys. And lenders are spending money. For its mid-year 2018

survey MBA partnered with Celent, a research, advisory and consulting firm focused on financial services technology. They focused on loan origination technology spending and usage. One key takeaway: Technology priorities and increases in tech spending are focused on the very front-end of the loan origination process and are consumer interfacing. Lenders said they were focused on opportunities for consumers to have more control over aspects of the process. That’s POS. But as they move down this path, lenders are experiencing challenges. The most significant of these is connecting the digital POS to the backend LOS. Graham says that failure to create a tight interface can result in a stellar POS experience, followed up by a decidedly less satisfactory origination process. The end result is not what the lenders are looking for. Another problem is that in order to show a viable product, these tools are created in a manner that is decidedly Loan Officer-centric. This allows them to get the adoption they need to become players in the space, but it often doesn’t sit well with executives working in larger enterprises. For instance, Garth points to POS tools that allow borrowers to photograph documents for easy upload. A nice experience for the borrower, but what if a copy of that sensitive personal information remains on the borrower’s cellphone? Data security experts in larger lending enterprises begin to experience shortness of breath when they think of things like this. “The fact is, the more LOfriendly the technology is, the harder it gets for enterprise lenders to approve it,” Graham said. “In some cases, lenders will just tell Loan Officers they can’t use it.” That’s harder to do with Mortgage Brokers, of course. First, increasing competition in the market has once again

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made these sales professionals important to the industry. Second, they are fiercely independent and just as likely to find another wholesale lender to work with than to conform to any particular lenderâ&#x20AC;&#x2122;s technology requirements. And third, theyâ&#x20AC;&#x2122;re not likely to spend much money on technology. This has created a gap that some competitors were happy to step into, including NAMB All-In, Arive and a number of other Broker-facing POS systems (see the Point of Sale Comparison chart on page 64). Itâ&#x20AC;&#x2122;s not yet clear which of these systems will be preferred by Brokers. One thing we do know is creating software front line originators will love isnâ&#x20AC;&#x2122;t easy. Even so, thatâ&#x20AC;&#x2122;s where the POS battle is currently the fiercest. What mortgage brokers want in a POS Anthony Gioia, Senior Mortgage Loan Originator with Oceans Lending, has been an

active participant in the mortgage business for the past 24 years. Unlike many Brokers, he has also started, owned and sold technology firms in the appraisal and title businesses. He gets technology. But at this point in his career, he finds originating loans to be most satisfying. Gioia currently originates loans using a collection of software from a number of vendors. He cobbled his own system together in search of increased efficiency. But he couldnâ&#x20AC;&#x2122;t point to any one tool available on the market today that he felt would meet all of his needs. â&#x20AC;&#x153;They havenâ&#x20AC;&#x2122;t developed what is really, truly needed yet,â&#x20AC;? Gioia said. â&#x20AC;&#x153;And that is an all-inclusive and allencompassing system. Today, we need three or four systems working together to be as efficient and productive as we can be. But, the ultimate tool would keep a Loan Officer in a single system all day long.â&#x20AC;? Gioia says the perfect

system would be made up of at least three critical components: l A good CRM l A point of sale system, and l The database of record (typically the LOS) If all were bundled into one system and integrated with credit, AUS, pricing engines, eSign and other necessary technologies then, Gioia says,

Brokers would have the means to be much more productive. Until he finds the perfect system, Gioia says heâ&#x20AC;&#x2122;ll continue to use the best tools he can find, combined in a way that gives him the most efficient process. He knows something better will eventually come along. So far, it hasnâ&#x20AC;&#x2122;t. â&#x20AC;&#x153;Nobody has figured out the ultimate system,â&#x20AC;? Gioia said. â&#x20AC;&#x153;Nobody.â&#x20AC;?

Rick Grant is Special Reports Editor for National Mortgage Professional Magazine and Mortgage News Network. He may be reached by phone at (570) 497-1026 or e-mail RickG@MortgageNewsNetwork.com. 57

As a trusted local wholesale lender, we eâ&#x20AC;&#x2122;re committed to prov viding great service for you and a great results for your clients â&#x20AC;&#x201C; each and every e time.

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Be Selective With Your Point of Sale Options By Eric Wiley

uring the past couple of years, I have heard from actual digital experts how the mortgage industry is 10 to 15 years behind currently available technology adoption.

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That’s the way we’ve always done it … If you’ve managed through any kind of software rollout in mortgage land, you’ve heard this phrase over and over again. Adopting new digital tools into an analog workflow with teammates who were hired for their people skills, not their technical prowess, represents significant challenges. As tech has crept its way into loan origination workflow, Old Dog Mortgage Loan Originators, managers and operations staff alike struggle with changing their workflow. For some, the changes come harder, as advancements can alter or eliminate what a job description used to do. For others, integrating data flow and new systems exposes errors and a general lack of understanding of the overall process. Regardless of resistance to change, the age of technological advancement is upon us and is here to stay. That does not mean jump in with both feet at every launch of every new cloud software platform. There are so many new vendors to choose from. Additionally, so many have clouded up the decision-making because they have come up with some great ideas, pooled a bunch of developers and combined those developers with some middle-aged, semiretired mortgage industry professionals looking for a big payday. The big question that some of these vendor options expose is whether or not they have qualified people to act as go-betweens (project managers) for the two distinctly different sets of talent pools (developers vs. industry veterans). The proof is in the pudding.

Start with what you are trying to solve for There are many software solutions that solve problems you don’t have and have features you don’t need. Focus on the areas where software makes sense and will provide the efficiencies, elimination of redundancies, reporting, user interface and that will be able to be integrated with your other main systems, such as your loan origination software (LOS), pricing engine, commission database, financial software, CRM, etc. A newer category into the mortgage lending space includes Point of Sale (POS) software produced by vendors wishing to enhance various aspects of client experience, communication, lead management, online “apply now” applications, data collection from home loan applicants, notifications to third parties, loan originator usability, CRM tools or integration and activity logging. The problem with all of these vendors is that there are too many of them and none of them do it all, at least not out of the box. With the industry resizing and consolidating, some of these vendors simply won’t make it. Others are still in their beta stages all the while attempting to entice new clients to take a leap of faith, offset by promised customizability and a reduced initial contractual obligation. Yet others that are only a few years old have dated technology and none of them do everything that a fully functioning POS should do. Client portal, lead management, CRM and integration … what a POS should do The “Big Four” of a POS are how to interface with the client digitally, how to track and manage consumer inquiries and leads from a sales perspective, how to communicate with those leads through their lifecycle and how well the data within the POS is able to be integrated with other systems. Integrations are key

to other third party systems such as your LOS, data warehouse or other data centric enterprise system. No POS we have reviewed performs in all categories. This means compromise will be a factor in your decision making. Sales will want the bells and whistles with all the options added. IT will want the vendor’s advanced programming interface (API) documentation so they can understand how data can flow. Finance will want reporting and forecasting capabilities. Most operations staff simply won’t care as they don’t have a dog in the fight. Vendor salespeople generally target sales management and top producing originators, not your IT team Trade shows and large conference expos are great for initial discovery and introductions to new tech vendors and their sales teams. Most software vendors’ salespeople love having cocktails with top-producing originators and sales leaders, but cringe when you bring your own IT manager or developer into the conversation. The professionals know what an API is, and know whether or not their solution allows full configuration of dataflow to your other systems. Too often, vendors only allow you some dataflow. Similarly, in most cases, two-way dataflow synching is curtailed. There are still vendors who want you to contract with them for custom development of data flow solutions. These custom deals can become a runaway expense that needs to be discussed and anticipated. When your vendor manages the customization, you’re going to have to invest into a whole new integration if you have to contract it with the vendor. These extra integrations are outside the scope of most baseline software contracts. If you switch to a different software solution down the road, you’re going to have to

pay your vendor to manage that configuration too. Go in with your eyes wide open. They will tell you their software can do things it can’t Whether it’s from inexperience, a lack of mastery in technical terminology, good intentions with bad information hand-offs or whatever, things get lost in translation. In one case we confirmed the software package synched with our LOS only to find after rollout that it did so twice—the evening of the original start of a loan file in the LOS and when the loan funded. This isn’t very useful for a CRM solution and is not most people’s definition of frequent synchronization. Another vendor indicated they could aggregate our loan originator Zillow reviews for reporting and tracking purposes. Nope. They couldn’t and it was one of the reasons we had switched vendors in the first place. We even had it in writing. The sad truth is we have been burned many times by software vendors indicating that their software did something it didn’t, or did it in a way that didn’t meet specifications. Since that time we have increased our IT department’s staffing and experience levels in part to head such events off prior to a contract being executed and money transferring hands. Enterprise software integrations don’t come with a test drive option This is a biggie. It’s unlikely you would spend money on a new vehicle without sitting in it and taking it for a spin. Unfortunately, enterprise software solutions require a contract to be executed, set-up fees paid and months of integration and configuration before you can hop in and test drive your new purchase. In fairness, unless a software package is a fee based service that is a simple integration, such as the ordering and receiving of credit reports, test driving enterprise solutions involves a lot continued on page 60

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be selective with your point of sale options

of time, energy and configuration on the vendor’s side. They incur legitimate expense on their side of a software rollout. For those in the industry that have a concept of loan servicing and the time it takes for a serviced loan to reach break-even and then profit for a servicer, software integration and rollout is a similar concept. You will incur expenses and your vendor will incur expenses. In the case of a new POS, you are going to be on the hook for up-front and long-term expenditures. Ask questions that need to be asked, even if you feel they are silly, in order to resolve any loose ends related to your decision making. Get it in writing. Have your own experts invest time to aide in your analysis. Do your homework to the best of your ability and try to avoid buying a lemon.

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Your soft costs will be significant, likely exceeding the hard costs in year one A three year contract with a sizeable up-front set-up fee is a big deal. $5K, $10K, $20K per month in per seat or minimum per click, times 36 months adds up quickly. Don’t look at the monthly payment. Look at the entirety of the contractual obligation. I have looked at many contracts that quickly add up to a Lamborghini or Ferrari. A nice one, not your starter version and without the test drive experience. The hard costs of the contract identify what you will pay a third party but not what expenses and opportunity costs you will incur internally. Your cost of acquisition and integration will be way more than many realize. Your team will be on your payroll spending precious time and energy into rolling out your new software. You will have to train people across your company in

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the rollout. New software forces change. In the case of a POS, you will have to train even veteran loan originators in how they sell and interact with consumers. You will have to support all the Q&A and Webinar supplemental trainings. You will have site visits. There will be a lot of valuable time that doesn’t show as a direct line-item charge on your income statement. Pick what you feel best meets your overall needs, then bite the bullet At some point, if you need the

software, you will need to make your decision. Select what you think is the best option for your needs and budget. Involve your entire decision team. Listen to everyone in the room. This should include the people that will have responsibilities for leadership, key players from departments who will utilize the solution and your project management, configuration, administration and rollout team members. Get buy-in, execute the contract, cut the check, roll up the sleeves and make it happen! Oh, and know it’s going to take one-and-a-half to two times as long as was originally estimated to get it up and running. I forgot to mention that.

Eric Wiley is Co-Founder and Executive Vice President of Pacific Residential Mortgage. He started his career as an Originator in 1995. As the Executive Vice President and an original co-founder of PRM, one thing remains the same: “The success and growth of those around me come first.” He may be reached by phone at (503) 9054902 or e-mail Eric.Wiley@pacresmortgage.com.

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Configuration vs. Customization in Point of Sale Systems By Deborah Hill oftware is great! Until you need to change it–then you may hear the dreaded words, “That requires customization.” To make things worse, this often comes with a series of calls to create something called “scope” and additional fees. Not only that, your go-live is delayed, thus impacting your revenue or margin. Not good for your career!

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Defining configuration and customization You’ll avoid a lot of extra fees and look like a star to your boss if you clearly understand the difference between configuration and customization. Configurable means a power user on your team or someone on the vendor’s support team can quickly change an attribute. Attributes might include colors, text, calculations or reports. Customizable means a software developer working for the vendor needs to write new code to change an attribute. Software developers are expensive, so this generally results in additional charges. How can you avoid or minimize the frustrations of product customization? How can you know that a feature is truly configurable–which I define as adjustable by your team or your vendor’s implementation team without assistance from a developer. Let’s start with the demo … How to structure a demo Most firms invite three or four different software vendors to compete for their Point of Sale (POS) solution. This usually includes sending out a list of requirements, a demo and negotiating the legal agreement. It’s a lot of work which makes finding out a key feature wasn’t included or requires customization to meet your needs potentially career limiting. Too many firms try to schedule a one-hour software demo with all of their key stakeholders at once. They do

“You’ll avoid a lot of extra fees and look like a star to your boss if you clearly understand the difference between configuration and customization. Configurable means a power user on your team or someone on the vendor’s support team can quickly change an attribute.”

this because demos feel like a waste of time–when the opposite is true. You should take the most time with the demo–ideally scheduling at least two sessions. The first session should focus on product configurability so make sure you cover the following: l If the vendor says they can configure something, ask them to change the configuration while on the demo. Tell them you want this in advance in case they need one of their team members to help them (some vendors have separate people selling vs. configuring sites). l Don’t expect the vendor to create an elaborate configuration change–for example, asking them to exactly match your corporate shade of blue. Ask them to make configuration changes that show the color, text,

calculation etc. … can be changed and have them show you how it’s changed. Let them show you the “ugly” back end used by their team or the configuration screen only your administrator will use. If the “Configuration Demo” goes well, then schedule the feature/function demo with your decision-makers. After the demo with your stakeholders, use your understanding of what’s configurable to determine if the product will meet your stakeholders’ needs. Politics Using a team of internal stakeholders to evaluate software works well–until it’s time to pick a winner. In most cases, your team will split their votes between two vendors. This happens because every vendor has strengths and weaknesses–and every

stakeholder has slightly different priorities or interests. For example, your marketing team might focus on the borrower experience, whether they can integrate Velocify or Google Analytics, and how you’ll communicate with borrowers through the platform. Conversely, your compliance team may care about whether you can configure the disclaimers, add caveats about pricing and comply with regulatory requirements like TRID or disclosures. When members of your evaluation team have different priorities, they may vote for different vendors–then someone has to pick a winner. Generally, the vendor with the most votes “wins” and you initiate the contract process with them. Sometimes, senior people get “extra” votes and overrule the decision of the team. In either case, you may have some stakeholders who hope the chosen system’s implementation fails–reopening the evaluation and giving their preferred vendor a second chance. When this happens be alert for extra customization requests from stakeholders who voted for the other vendor. They may want a feature offered by another vendor that they really liked and ask you to customize the product so it includes this feature. They might delay your project by suggesting the choice of this vendor means internal processes need review and redesign before you roll out the software. They may give the vendor’s project team unrealistic deadlines or submit their deliverables late. If you fall into the trap of placating these stakeholders– you’re probably looking at a long project and significant additional cost. So, how should you handle project politics? Here are some tips that consistently work: l Before selecting a vendor, have a conversation with your firm’s senior leadership that includes handling requests to change the chosen product to better match features available in a product that wasn’t chosen. Work with them to commit to a decision process before the vendor is chosen. Creating the process before selection is key–you

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Reports Let’s spend a moment on reports since they are often bottomless pits of customization. Each area of your firm is interested in different data points and within a department, individual users may only need a subset of that data. When you transition from an older system to a new POS, reporting often becomes a battle ground. You probably spent years gradually building up a large selection of reports in the old system and your users may expect to find their special report in the new system. When they don’t– customization requests come pouring out. Here are some tips for controlling report customization requests: l Before you start vendor selection, let your team know that any new POS may not have all of the highly customized reports available in your old system. Talk to them about how new technologies make reporting more flexible and set a goal of empowering users to create reports.

l Instead of asking if every report is configurable or asking if the vendor supplies a specific report, ask if you can get your data in a spreadsheet so a power user at your firm can create custom reports and graphs. This is a great way to speed up your implementation while making sure your users have the information they need. l During your configuration demo, ask the vendor to recreate a simple report from your old system. l At the start of the project, establish a budget for a reporting phase two of the project. After you go-live with the product, use this budget

to create any needed reports. You’ll probably find the number of reports requested is much lower after your users have had time with your new software! Conclusion This article defined customization and configuration, provided tips on evaluating POS software, working with your end users to minimize customization and working with your vendor. A new Point of Sale system quickly implemented can immediately improve your bottom line–so don’t sacrifice your financial gains by falling into the customization trap.

Deborah Hill has more than 10 years of experience helping financial services customers gain efficiencies through their implementation and use of software. She is Vice President of Customer Success and Operations at MortgageHippo. Before joining MortgageHippo, Deborah consulted and held board positions with several earlystage FinTech firms. Prior to that, she was Managing Director at Backstop Solutions Group.

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generally in those roles because they like to be helpful so let them know it’s OK to push back on customization requests and suggest configuration changes instead.

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want to do it while everyone is on equal footing. When budgeting for the new POS, discuss adding a line item for customizations. You don’t have to tell the vendor about the line item–but if your management team is fairly sure some customization is inevitable, budget it. A budget will force your team to prioritize requests and speed up the change order process with your vendor thereby keeping your project on track. Avoid serial customizations by requiring a business case. Sometimes letting one person or department get a customization opens the door for others to get something too. If marketing gets a custom question, then compliance should get a custom disclaimer! It’s easy to sit in a conference room and ask for things–so ensure all requests are thought through by requiring a business case. How will this customization increase revenue? Will it increase the number of borrower applications? Will it reduce the amount of time Loan Officers spend on an application–thereby increasing their productivity? Will it allow you to reassign a staff member to more valuable work? If there isn’t a direct relationship between the customization request and your bottom line–you have an objective reason to say no. Think in percentages, does the software do 40 percent, 70 percent or 90 percent of what your user requests? If the software is close to your user’s ideal think about additional training or an internal process change instead of customizing the software. Sometimes users just want a feature to work like it did in your old POS so additional training may remove their objection. Coach your vendor to find configuration options. Most customization requests are enhancements to an existing feature. Work with your vendor’s implementation team to offer your users configuration options instead. Customer implementation and support people are

Point of Sale Comparison Chart The desire for lenders to craft a bespoke mobile first experience has created a huge market for technology firms to customize Point of Sale (POS) solutions that are standalone and built into existing lender technology. National Mortgage Professional Magazine has identified such technology firms offering POS solutions. We asked a handful of these innovators exactly what sets them apart from the rest, who their target audience is and more, to give youâ&#x20AC;&#x201D;the readerâ&#x20AC;&#x201D; a way to narrow that list of Point of Sale solutions from many to a few.

BeSmartee What sets your Point of Sale system apart from the competition? Our consumer experience intuitively guides borrowers from an application to a paid appraisal within 15 minutes. Our MLO experience offers a command center that gives the lender all of the required features to complete the loan process and collaborate with their borrowers in real-time. Target audience: Mortgage Brokers, Mortgage Bankers & Depository Lenders Size of companies that your system is best suited for: Six to 25 Originators; 26 to 100 Originators; 101 or more Originators Typical time needed to implement: 30 days or more (or enterprise level that requires more than 30 days) Can borrowers upload files or scans via app? Yes Reporting levels: Originators; Teams, Branches, Divisions, Brand & Companywide Without additional customization, which Loan Origination Systems can your POS work with? Encompass, LendingQB, Empower (Black Knight) & BytePro What customizations of status reports and communications can be done without additional cost? Dozens of different types, here are some basic examples: Applications Started, Credit Reports Ordered, Applications Submitted, Loans Funded/Closed, Loans by Status, Customer Report & Branch Reporting.

BorrowerCenter What sets your Point of Sale system apart from the competition? Borrower Center utilizes real-time data, ported directly into your LOS. It reduces risk, maintains data integrity and reduces maintenance costs. In addition, it enables borrowers to shop, compare and apply in minutes, which has a direct impact on their overall satisfaction. Target audience: Mortgage Brokers & Mortgage Bankers Size of companies that your system is best suited for: One to five Originators; six to 25 Originators; 26 to 100 Originators; or 101 or more Originators Typical time needed to implement: 30 days or more (or enterprise level that requires more than 30 days) Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Teams, Branches, Divisions, Brand & Companywide Without additional customization, which Loan Origination Systems can your POS work with? Mortgage Cadence Enterprise Lending Center What customizations of status reports and communications can be done without additional cost? Enterprise Lending Center is the system of record, so all status reports originate there. For communications, there is a set of consumer e-mail notifications that are fully customizable, including notification of successful account creation, co-borrower invitation, password resets, etc.

What sets your Point of Sale system apart from the competition? ConsumerAssist Digital POS can be utilized as a standalonesolution, and also in conjunction with OpenClose’s LenderAssist LOS, making it a one-of-a-kind consolidated end-to-end digital mortgage platform that perfects POS-LOS automation. The unique solution slashes loan manufacturing costs, eliminates multiple systems, streamlines workflows, optimizes origination and operations, and enhances borrower experiences.

Size of companies that your system is best suited for: 101 or more Originators Typical time needed to implement: 30 days or more (or enterprise level that requires more than 30 days). Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Teams, Branches, Divisions, Brand & Companywide Without additional customization, which Loan Origination Systems can your POS work with? The POS solution integrates with any LOS, and is also consolidated with OpenClose’s 100 percent browser-based, end-to-end, multi-channel LenderAssist LOS platform. What customizations of status reports and communications can be done without additional cost? ConsumerAssist Digital POS is custom-configurable. Various functionality, reporting, communications and more can easily be turned on or off to accommodate a lender’s specific needs. The solution can be leveraged by borrowers, wholesale originators, retail loan officers, back office staff and other relevant parties.

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Target audience: Mortgage Brokers, Mortgage Bankers & Depository Lenders

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Consumer Assist Digital POS

Digital Lending What sets your Point of Sale system apart from the competition? Lender Priceâ&#x20AC;&#x2122;s Digital Lending Platform (DLP) allows lenders to create the borrower experience they envision. Custom workflows, questions, fields, notificationsâ&#x20AC;&#x201C;DLP gives any type of financial institution total control over their borrower engagement process and the tools to become a leader in digital lending. Target audience: Mortgage Brokers, Mortgage Bankers & Depository Lenders Size of companies that your system is best suited for: One to five Originators; six to 25 Originators; 26 to 100 Originators; or 101 or more Originators Typical time needed to implement: 15-30 Days Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Branches & Companywide Without additional customization, which Loan Origination Systems can your POS work with? LendingQB, Black Knight Empower & Calyx Point What customizations of status reports and communications can be done without additional cost? DLP includes a robust set of customization and configuration tools that allow users to build their own workflow, place integrated service into the workflow using drag and drop tools, create custom fields, etc.

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FinKube with ELSA What sets your Point of Sale system apart from the competition? ELSA (ELoanSupportAssistance) can respond to borrower requests for information, schedule appointments for Loan Officers, offer mortgage calculators, gather prequalification information and issue pre-quals, provide loan status updates. Target audience: Mortgage Brokers, Mortgage Bankers & Depository Lenders Size of companies that your system is best suited for: 26-100 Originators; or 101 or more Originators Typical time needed to implement: 15 to 30 Days Can borrowers upload files or scans via app? Yes Reporting levels: Companywide Without additional customization, which Loan Origination Systems can your POS work with? We can export a FNMA 3.2 file. What customizations of status reports and communications can be done without additional cost? Create working modules without coding using drag-and-drop development. This makes developing powerful new POS & LOS applications quick and intuitive. Access and analyze data from any other on-premise applications and databases to provide users with new business insights.

MortgageHippo digital lending platform What sets your Point of Sale system apart from the competition? MortgageHippo’s digital lending platform is the most customizable and configurable white-label solution on the market. It is truly “Your Digital Lending Platform,” adapted to your workflows, processes and loan origination strategies. The best platform is one you can make your own. Target audience: Mortgage Bankers & Depository Lenders Size of companies that your system is best suited for: 26 to 100 Originators; or 101 or more Originators Typical time needed to implement: 30 days or more (or enterprise level that requires more than 30 days) Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Teams, Branches, Divisions, Brand & Companywide Without additional customization, which Loan Origination Systems can your POS work with? ByteSoftware, LendingQB, MortgageFlex, Calyx Point & Encompass What customizations of status reports and communications can be done without additional cost? Out of the box, MortgageHippo can status the Borrowers & LOs via e-mail & SMS, can send manual or automatic pre-approval letters, can open tasks for borrowers, and depending on the lender’s LOS, can status the file based on specific milestones.

What sets your Point of Sale system apart from the competition? BNTouch offers a full Point of Sale Tool Suite that is fully integrated into our world-class Mortgage CRM. Why use two pieces of software when you can use one. Enjoy the power of POS & CRM combined and check out a demo today at https://bntouch.com/mortgage-point-of-sale-software. Target audience: Mortgage Brokers, Mortgage Bankers & Depository Lenders

Typical time needed to implement: One to seven days Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Teams, Branches, Divisions, Brand & Companywide Without additional customization, which Loan Origination Systems can your POS work with? Calyx Point, Encompass, LendingQB, Byte, Blue Sage, Arrive, Open Close & Lending Pad What customizations of status reports and communications can be done without additional cost? BNTouch offers a full reporting section with 18 customizable reports. Lead counts, lead sources, office performance and ROI reports are all available right from the start.

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Size of companies that your system is best suited for: One to five Originators; six to 25 Originators; 26 to 100 Originators; and 101 or more Originators

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Point of Sale Suite From BNTouch Mortgage CRM

SimpleNexus Digital Mortgage Platform What sets your Point of Sale system apart from the competition? In addition to a mortgage loan application accessible online and via a lender-branded mobile app, SimpleNexus offers a full suite of borrower, Loan Originator, and referral partner tools that fulfill digital mortgage expectations. Loan Originators get on-the-go tech stack access. Borrowers and referral partners get instant access to loan status. Target audience: Mortgage Bankers Size of companies that your system is best suited for: Six to 25 Originators; 26 to 100 Originators; or 101 or more Originators Typical time needed to implement: 15 to 30 days Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Teams, Branches, Divisions, Brand & Companywide Without additional customization, which Loan Origination Systems can your POS work with? Encompass, PCLender, Calyx PointCentral, LendingQB & Byte (BytePro Online and BytePro Enterprise) What customizations of status reports and communications can be done without additional cost? Fully-configurable suite of notifications and alerts, as well as communication method options such as text, e-mail and in-app notifications. Suite of more than 20 flexible reports available. Customizable mortgage loan application. Full brand integration in all platform elements including mobile app, online dashboards and online mortgage loan application.

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START What sets your Point of Sale system apart from the competition? START is a 100 percent mobile responsive point-of-sale application that integrates with Web solutions and data sources in real-time. It includes the automation of assets, tax, and employment, has smart data entry elimination and real-time data validation which brought the industryâ&#x20AC;&#x2122;s 75 percent abandonment rate down to 12 percent. Target audience: Mortgage Brokers, Mortgage Bankers & Depository Lenders Size of companies that your system is best suited for: Six to 25 Originators; 26 to 100 Originators; or 101 or more Originators Typical time needed to implement: 30 days or more (or enterprise level that requires more than 30 days) Can borrowers upload files or scans via app? Yes Reporting levels: Originators, Branches & Companywide Without additional customization, which Loan Origination Systems can your POS work with? START currently integrates with Encompass, Calyx, Open Close & PC Lender What customizations of status reports and communications can be done without additional cost? Without additional costs, START gives milestone notifications, Loan Started notifications, and Loan Completed notifications can be configured in the system. START also provides secure messaging and new documentation notifications as well.

EDWARDS PARDUE

MORIARTY WICKMAN

l Homebridge Financial Services has added Mark Barrere to its expanding team in New England. Barrere, a Connecticut native, brings to Homebridge more than 20 years of mortgage industry experience. Homebridge has also named Anthony Iezzi as Regional Builder Manager. Iezzi brings to Homebridge an exceptional reputation for fostering relationships with high-profile residential builders, Realtors and developers throughout the Northeast region.

TREECE

l Mortgage Network Inc. has announced that Spencer Plante has been promoted to Loan Officer at the company’s Freeport, Maine branch. Plante is a former Sales Assistant with Mortgage Network.

l Gateway Mortgage Group has announced that Jacquelyn Pardue has joined the company as the Director of Purchasing and Vendor Management, where she will be responsible for overseeing vendor relationship issues for all business channels and service providers. Gateway has named also Christopher Treece as its new Chief Financial Officer.

l Castle & Cooke Mortgage has opened its third office in Mississippi in Batesville, to be led by Branch Manager Katy White.

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l Fannie Mae has named Interim CEO Hugh R. Frater as its new CEO. Frater served as Fannie Mae’s Interim CEO since Oct. 16, after Timothy J. Mayopoulos resigned from the Chief Executive position. Fannie Mae has also announced the hiring of Stergios “Terry” Theologides as Executive Vice President, General Counsel and Corporate Secretary. Fannie Mae also elected Karin J. Kimbrough and Brian P. Brooks to its Board of Directors. Kimbrough is Assistant Treasurer for

PLANTE

l Former Mortgage Bankers Association (MBA) President and Chief Executive Officer David H. Stevens has been appointed to the Board of Directors of Radian Group Inc.

l Guaranteed Rate has appointed Charley Wickman as Executive Creative Director. In this new position, Wickman will oversee creative, including design, copy and brand-building.

BARRERE

HOUSE

l Credit Plus has announced that Jane House has joined its team as Vice President of Data Solutions. The new position will support the firm’s intention to broaden its application of risk management and portfolio retention tools for mortgage servicing.

l Maureen Moriarty has joined Fairway Independent Mortgage Corporation as a Senior Mortgage Advisor, serving Hingham, Mass. and the south shore.

l Donna Edwards, CCP has been named Chief Human Resources Officer (CHRO) at Planet Home Lending, responsible for strategically building the human resources structure to support the company’s continued growth. Planet Home Lending has also opened a new branch in Morgan Hill, Calif., to be led by Branch Manager Justin Berteaux; Mortgage Loan Originators Michelle Cockrell, David Hernandez, Tricia Nardone, Dallas Garcia and Kristin Levario; Sales Manager Bobby Saadieh; and Processor Grace Olevetti.

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MTS Software Solutions, provider of the IntellaLend automated loan quality management and auditing technology, has announced that IntellaLend will integrate into Ellie Mae’s Encompass digital mortgage solution using Ellie Mae’s Encompass Partner Connect API technology. The integration will allow lenders to more efficiently and securely share data between IntellaLend and Encompass to drive quality and efficiency in the loan origination process. IntellaLend is a loan quality management and auditing platform that mitigates compliance defects found in loan packages across the mortgage lifecycle. Developed by MTS Software Solutions, a provider of enterprise technology to hundreds of financial institutions, IntellaLend uses artificial intelligence and machine learning OCR technology to uncover common compliance and critical defects and dramatically improves quality assurance and profitability. “We are delighted to partner with Ellie Mae and join the Encompass community,” said MTS Software Solutions Chief Operations Officer Earl Voorhees. “Our secure, seamless and bidirectional integration with Encompass will accelerate data and document workflow processes for our mutual clients, thus empowering mortgage lenders to simplify the loan quality assurance process and grow their business. We look forward to a long, successful relationship with Ellie Mae.” MTS Software Solutions Director of Product Management Sam Kharidi said, “IntellaLend automatically evaluates the information provided in loan files and matches the data with the lender’s loan origination platform to ensure complete proof of compliance. Through this integration, lenders using Encompass are now able to leverage automation to identify and solve critical loan quality issues so they can redeploy staff

Mortgage professionals to watch

STEVENS

MTS Announces Integration Between Its IntellaLend and Ellie Mae’s Encompass

on more complex lending decisions.”

FRATER

comprehensive, high-quality and cost-effective solutions for AMC’s clientele.”

Google and Brooks is Chief Legal Officer of Coinbase Global Inc. and held Theologides’ new job at Fannie Mae from November 2014 to September 2018.

WHITE

continued from page 51

THEOLOGIDES

heard on the street

APRIL 2019 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

Living on Video By Paul Lucido

Web would become available to the general public. Its creator, the now internationally known Tim Berners-Lee, gave birth to a new technology which would fundamentally change the world as we knew it. The World Wide Web has its foundation in work that Berners-Lee did back in the 1980s at CERN, the European Organization for Nuclear Research. (CERN is also home to the great particle separator, “The “Large Hadron Collider”—a giant atom smasher … but we’ll save that for another time—I’m still working on ways to tie atomsmashing into the mortgage industry.) It was there that Lee had been looking for a way for physicists to share information around the world in an omnipresent manner without everyone having to use the exact same type of hardware and software. Today, this modern technology has evolved into something much more powerful and pervasive— one might say it’s moving at the speed of business as companies across all industries are taking full advantage of social platforms including Facebook, Instagram, Twitter, Pinterest, Snapchat, BuzzFeed and LinkedIn—all of which now support and facilitate “live” video technology. Even emails are incorporating video

footage. This has literally changed the landscape in which we communicate with others, how we advertise our wares, and how we emotionally connect with people—just shy of being faceto-face “irl.” Much like the MTV days which conquered a new frontier of audiences, video has become the primary stimulus for audiences online. YouTube, for example, has catapulted to being one of the most popular and powerful search engines, only second to Google. It is evident that more people are adapting to “living on video” and stepping away from static imagery and messages that flood the Internet. We live in a hyperbolic world where nearly everyone is roaming about with a smart phone device. One that not only allows them to consume video media, but to create it. In other words, everyone is walking around with their chance at their 15 minutes of fame (alright, 60 seconds of fame?) in their pockets. Aye, there’s the rub … and the caveat. Statistics report that the average attention span of most people is approximately eight seconds. That’s a second less than that of a goldfish. It has been reported that even email read-lengths vary by device, but less than three seconds was the

overwhelming majority across all smart phone devices. The “Three- to Five-Second Rule” So, what does this all mean? Today, many businesses and the industries they serve continue to adapt their marketing strategies in an effort to capture the limited attention span of their targeted audiences. The general rule of thumb is that you only have between three to five seconds to grab the attention of your audience—something the major advertising agencies have known for decades. Millennials, for example, are known for searching information across many mediums very quickly. This means they are processing information at a much faster rate, and therefore, expect information faster. According to CNBC a recent study conducted by comScore reported that Millennials spend 61 percent of their online time on smartphone apps, eight percent on the mobile Web, 25 percent on desktop, and just five percent on their tablets. In other words, the Millennial generation and younger have been programmed to surf and navigate vast oceans of data in just a matter of seconds. Consequently, their minds are capable of discerning what is of interest to them in an instant, leaving only a brief window to capture their attention—according to this study, just five to six seconds in length. Therefore, with all this continued on page 75

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A brief history of time … It was during the early 1960s that Leonard Kleinrock would be credited with the initial development of what we know today as the World Wide Web. This was the precursor to what jump-started the Internet in 1969 with the U.S. Defense Department’s Advanced Research Projects Agency Network (ARPANET). On Jan. 1, 1983 ARPANET adopted what was known as Transmission Control Protocol and Internet Protocol (TCP/IP). From there, researchers collaborated and began to assemble what would soon be considered the “Holy Grail” of networks. It was Aug. 6, 1991, nearly 10 years later, that the World Wide

“We cannot say for certain that the universality of video technology will ultimately dilute its potency, but we can say that it’s becoming more difficult to stand out from the crowd.”

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oes anyone remember back in early 80’s a song called “Living on Video” by the Canadian synthpop band Trans-X? It was the advent of MTV’s Music Television in 1981 that redirected the trajectory of the music industry. The idea of producing creative music videos to air on television was appealing to many rock-n-roll bands as it presented an opportunity for rebranding and catalyzed a new wave of mania as they were suddenly able to captivate teenagers and young adults with their mesmerizing vocals and hypnotic visuals—all from the comfort of their fans’ own homes. Yes, it was becoming more and more apparent that “Video Killed the Radio Star.”

APRIL 2019 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

How to Manage Time Effectively as a Loan Officer By Tracy Marks

Focus on your goals Once you’ve pinpointed your biggest time-wasters, it’s time to turn your productivity game around to get on the right track. In order to properly manage your

Use time management tricks to stay on track So you have a goal to work toward–now it’s time to prioritize your projects and use your time effectively. What steps can you take to get you where you need to be by the end of the month? l Organize your projects. Be sure to identify those that are urgent vs. ‘important’–for example, a loan closing next week that needs attention would be urgent. All work is important, but understanding the difference between urgent and important tasks can help you better outline priorities. l Consider batching or timeblocking as a way to systemize tasks. Batching involves completing similar tasks in a group to streamline them. Time-blocking requires a certain level of diligence, as you’ll set aside specific times in your day to complete important tasks. l Don’t be afraid to delegate work. Sometimes, in order to accomplish important goals, you have to share the

workload with your team. Take on your highest priority project and identify the right people to delegate other projects in order to successfully accomplish your goals. l Use time-management tools to help you stay focused. Whether it’s an app like Evernote to help you manage your thoughts, ideas and images in one central location or one like Toggl, that helps you track your time to see what you’re spending most of your day working on, tools like these can help you use your time more effectively. l Develop a marketing strategy that works for you. Understand your audience and how to best reach them. Build an editorial calendar to keep your communications on track. Spend time where your audience is most active. l And finally, step back every so often and evaluate what is and isn’t working. As a Loan Officer, you have three main areas of focus: 1) Supporting your current consumers; 2) Building relationships with your B2B audience, such as

real estate agents and builders, and 3) Building an active prospect pipeline. When it comes to managing all three areas of your business and accomplishing big goals you have set for yourself, never let daily tasks get in your way. Yes, you have to check e-mail and meet with clients in your office, but make time to get out of your office and prospect consistently, too. Using a mix of the time management tips above can help you maximize each day and allow you to keep your focus on building a thriving mortgage business all year long. Information is for educational purposes only and should not be relied upon by you. Information deemed reliable but not guaranteed. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. LenderSelect Mortgage Group is a registered trade name (DBA) of Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlscosnumeraccess.org) is an Equal Opportunity Lender. Located at 804 Moorefield Park Drive Suite 102, Richmond, VA 23236.

Tracy Marks is President of LenderSelect Mortgage Group. An executive with more than 35 years of diverse sales experience, Marks is experienced in business development, systems and operations, and managing sales acquisition and production. As the President of LenderSelect Mortgage Group, he built and strengthened the Third-Party Origination Division of Atlantic Bay Mortgage Group.

n National Mortgage Professional Magazine n APRIL 2019

Identify top time wasters How you spend your time at work may vary day by day, but most of us have certain behaviors that become habit. Whether you procrastinate on tasks until the last minute by chatting with a co-worker or you tend to get sidetracked by focusing on less important projects over urgent ones, these behaviors can add up and put you seriously behind on accomplishing your overall goals for the month. Take some time to consider what you should spend less time doing in order to successfully reach your goals–and then use the tips below to help you stay on track with effective time management.

time, it’s important to lay out your plans and goals for the week and the month. Start by choosing a goal you’d like to achieve by the end of the month– what kinds of activities do you need to do daily in order to get there? List them out. Envision what you’ll feel like once you achieve this big goal in order to stay motivated throughout the month.

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e are well into 2019, and hopefully you have started the year off on the right foot. Setting achievable goals that help grow your mortgage business is the key to a successful year. However, when it comes to achieving those goals, how you manage your time each day has a huge impact on the outcome. There are many factors that affect proper time management, but most can be resolved simply by tweaking your daily routine and behaviors a bit.

JAYNE

heard on the street

DAMMEN

l Nationwide Mortgage Bankers Inc. has hired Robert Jayne as its new Executive Vice President of Sales.

INNIS-THOMPSON

l Summit Valuation Solutions has announced that Jayson Dammen has joined the company as Vice President of National Accounts.

l TD Bank has hired Michael

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Innis-Thompson as Senior Vice President and Head of National Community Lending for the bank’s Residential Lending businesses. l Waterstone Mortgage Corporation has announced the promotion of Heidi Roberts to Vice President– Information Services at the company’s Pewaukee, Wis.based corporate office. Waterstone has also announced the opening of a new office in Texarkana, Ark., to be led by Sales Manager Stephan Haynes, who is joined by Loan Originator Lee Hammonds and Loan Partner Ann Ellis. l ComplianceEase has named Michael Jackman as its new Chief Executive Officer, replacing Anita Kwan, the company’s Co-Founder, who is retiring. l Angel Oak Mortgage Solutions has announced the addition of 10 new Account Executives in March to teach Mortgage Brokers and correspondents about growing their business with non-QM,

APRIL 2019 n National Mortgage Professional Magazine n

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including: Antoinette Hendryx, Central Valley, Calif.; Tuan Huynh, Los Angeles; Jodie James, Columbia, S.C.; Rob McCorkel, North Bay, Calif.; Geoff Ogden, Sacramento, Calif.; Jill Polce, San Diego, Calif.; Ben Scribner, Philadelphia; Brady Sweet, Jacksonville/Pensacola, Fla.; Leanne Wood, Scottsdale, Ariz.; and Sam Yeo, Orange County, Calif. Carrington Mortgage Services LLC has announced that industry veteran Dianne M. Minor has joined its Correspondent Lending Division, bringing more than three decades of real estate and management experience to the company. Home Point Financial Corporation has announced a number of new hires in its Correspondent Lending channel, including Correspondent Sales Managers Mark Hayes, who will be responsible for Northern California, Oregon, Idaho, Montana and Washington, reporting to Division ManagerCorrespondent Lending Lori Jensen; Andy Gottman who will be responsible for Arkansas, Oklahoma and West Texas; and Sharon Magnuson, who will be responsible for Colorado, Utah and Wyoming. Bob Reinagel has been added to the team as well, operating as a Sales Manager for the Gulf States, primarily covering Alabama and Mississippi, reporting to Division ManagerCorrespondent Lending Michael Bender. Brett Patterson has been hired to focus on large national institutional clients, reporting to Senior Managing DirectorCorrespondent Lending Steve Landes. Rusty Leitzsey also joins Home Point as its firstever Business Development Manager, covering the entire East Division, responsible for adding approved sellers to Home Point’s Delegated Correspondent client base. NMSI Inc. has named James Hooper President of Wholesale Lending, where he will be responsible for the growth strategy of the company’s wholesale and non-delegated lending channels. Volly, a provider of SaaS-based marketing automation, CRM and POS solutions, has announced the hiring of Dawn Douglass as Chief Information Officer to lead product development, technology

management and the development of strategic partnership programs. Informative Research has named Mike Atwell as their new Vice President of Client Success, where he will be focusing on offering the company’s extensive suite of products to lenders in the Western region. AmTrust Title Insurance Company has announced the promotion of Felice K. Shapiro to General Counsel for AmTrust Title and First Nationwide Title, one of the first female General Counsels of a major title insurance underwriter. ComplianceEase has announced that Sheila Meagher has joined the company as Senior Vice President of Sales & Client Success, following the promotion of her predecessor, Dan Smith, to Senior Vice President of Government Relations. PeerStreet has announced the hiring of two executives with extensive experience in the financial services and real estate sectors: Ellen Coleman as Executive Vice President of Finance and Bob Brown as Executive Vice President of Finance & Corporate Development. The National Association of Realtors (NAR) has announced two new additions to a newly integrated marketing communications team to increase member engagement and satisfaction and enhance NAR’s relationship with consumers. Mantill Williams will become NAR’s Vice President of Public Relations and Communication Strategy, and Susan Welter will become NAR’s Vice President of Creative and Content Strategy. Both will report to Victoria Gillespie, NAR Chief Marketing and Communications Officer.

Your turn National Mortgage Professional Magazine invites its readers to submit any information, events, passages, promotions, personal or professional occurrences that seem appropriate and/or other pertinent data to the attention of: Heard on the Street/Mortgage Professionals to Watch column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

living on video

continued from page 71

information moving at the speed of business and with most people having a shortened attention span, it becomes even more challenging to stand out amongst all the noise. If everyone is “living on video” will it reach a point of oversaturation? It brings to mind a line in The Incredibles from the antagonist, Syndrome, who wants to eradicate “The Supers” by equalizing superpowers (or superinventions) for the common people. His reasoning? When everyone is super, no one will be. Video is soon becoming the great equalizer. We cannot say for certain that the universality of video technology will ultimately dilute its potency, but we can say that it’s becoming more difficult to stand out from the crowd. By keeping up with the evolving technology and marketing trends you will not only become a more perceptive consumer of media content, but you will hone the skills necessary to actively participate in the field and spread your own ideas! Here are some of the best practices and general rules of thumb you can apply to ensure you are producing the best possible message and increase your chances of getting your audience to pay attention and engage your video posts.

pointe and directed. Author of Thirty Days of Thought, Jay Doran, recommends applying the following four fundamentals and principles to create “The Ideal 1-Minute Video:” 1. Create the hook (zero to three seconds) Capture their attention by getting straight to the point! It is recommended not to use a precanned video bumper. Don’t waste time saying your name or reusing video footage you might have from a prior TV spot. Instead, let your viewers know what their getting themselves into right off the bat! Remember, you only have a few seconds to capture their attention.

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personal growth, who discusses “The Genius Zone.” The Genius Zone philosophy is a process of control that, through steps taken in our work lives, will prevent us from depleting our energy banks. I think this is key for professional wellness. I was thrilled that Bill Mervin gave rich and useful advice that will help my students live a better work/life balance.

out know this and couldn’t do what they do, dealing with a high-paced life, stress and all that goes with it, with energy sourcing. Energy sourcing = Exercise. What are you doing to energy source? I would tell you if you are on the low end of this spectrum, start with elimination of one or two bad foods, and three times a week, low to moderate exercise like taking a walk. That little step should lead you in a positive direction with more motivation and more energy. Then, you can throttle. Until then, you are in a race and your maximum speed is limited. This will leave you feeling like you cannot compete, cannot keep up and are constantly falling behind.

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n National Mortgage Professional Magazine n APRIL 2019

Where the rubber meets the road! Now let’s go to the opposite side of energy-storing. How do we accelerate? How do we ensure that we can put our foot on the proverbial pedal and throttle down when needed in the highly2. Ignite pleasure/pain (three to competitive world of mortgage 15 seconds) and real estate finance? This one Viewers must identify with the is for the masters of fuel problem or opportunity you’re LMAO! stocking. The simple answers presenting. Therefore, ask a Laughter is an energy additive. lead us back to the vices. We all question, show success, or even What makes us laugh also lifts know that offices with sales failure, to strike a chord with them teams are stocked with coffee our spirits. What makes us truly and connect on an emotional level. machine and energy drinks—the smile, makes us able to make forward steps in life. It seems obvious solution to energy silly to say, but it’s true. If you 3. Describe the solution (15 to 50 sustenance. However, it seems seconds) find the funny in life, look at life to me those who truly shine, What are you offering? What is the aren’t fueling artificially. They are with humor, seek humorous product or service? Make clear the the ones who are living balanced things, like memes online, enjoy comedy, funny friends or your benefit of your information, lives with much of the list shown own ability to say and do things product or service! at the start of this article. that make others laugh, is truly a So, the rubber meets the road gift. 4. Call to action (50 to 60 where people are spending Don’t take life too seriously! seconds) approximately four to eight hours Listen, I am just about as deep What do you want them to do? By a week doing exercise. I have demanding something from your said and written in my own book, as anyone can get. I am a deep Keep it simple thinker, I know a ton of deep viewer and reinforcing their sense Wise Eyes: See Your Way to In the words of John Maeda, “In thinkers and yes, I fix people’s of agency and choice, you simplicity we trust.” Success, that “Activity breeds professional problems, so I automatically engage them! activity” and I’ve done videos on Whether delivering a message spend my days counseling those this topic. It simply is true. The or showcasing your products or who need guidance. Still, I love In addition to Doran’s reputable less busy we are, the slower we services, make it a point to humor, say funny things and advice, consider reinforcing the institute the laws of simplicity. become. The busier we are, the migrate to those folks who make personal connection you’ve more energy we harvest. But According to Maeda, the simplest me laugh. I try hard to search for established, or are seeking to what is our contribution? way to achieve simplicity is funny things once or twice a establish, with your viewers by Some people say, “I don’t through thoughtful reduction—or week and post this content on reinforcing your credibility as a what is referred to as the have the energy or time for the my social media streams in a source, demonstrating loyalty by “reduction principle.” gym.” They wake up late, get in humorous way, as it makes us all remaining consistent with your Ironically, the process for bad routines and chase their feel lighter. viewers and asking them to stick reaching an ideal state of days. Others set alarms, wake So please, find what makes with you throughout your journey, simplicity can be truly complex. A up with the birds, go “energy you laugh in life, and make and remaining accessible. No general rule of thumb is: When in source” at the gym by building someone laugh today. Our matter how professional or doubt, remove it. Remember, if it muscle which takes your body business is serious, our work is academic you get with your doesn’t add, it takes away. fuel to sustain. When you tedious, our lives are riddled with strategies, the most important Again, by reducing you are increase your body mass with timelines, deadlines and the like, providing a foundation that will not quality to bring to your content is muscle, your metabolic rate so find the humor lining. Life is yourself. In an age that is only help you distill your message increases, your fuel tank then funny when you think about it. becoming increasingly more into its simplest form, but ensure requires sustenance and the Power on! Good luck finding digital, what we need is humanity. entire system creates a different that you keep your message en your success and fueling it! energy output. Those who work Paul A. Lucido is Chief Marketing Officer for PRMG, Paramount Residential Mortgage Group Inc. Paul has more than 21 years of experience in brand development Christine Beckwith is a 30-year mortgage industry veteran and advertising communications in the mortgage industry. who has broken many glass ceilings and has blazed a trail He is in charge of overseeing PRMG’s corporate brand for many female professionals to come. Christine is and executing marketing initiatives on a national scale. He currently President and COO of 20/20 Vision for Success may be reached by phone at (951) 547-6311 or e-mail Coaching and Consulting, a decorated, sought after and PLucido@PRMG.net. award-winning leader.

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Attention Recruiters, Business Development Managers and HR Professionals PRMG 1-855-PRMG-FAN! (855-7764-326) www.PRMG.net Built by originators for originators, PRMG was born from a vision of creating a company with a unique culture focused on the successes of the producer. We understand what it takes to be a successful originator and cultivate new business every day.

REMN Wholesale 732-738-7100 www.remnwholesale.com Although REMN Wholesale is part of a large corporation, it feels like a “Mom and Pop”-style company. We encourage our team members to grow and we train and promote each individual to their full potential. As a national company, REMN provides many opportunities for employment from coast to coast.

United Wholesale Mortgage 800-981-8898 www.uwm.com/careers Voted the #1 place to work in Metro Detroit, UWM is looking for A players to join our talented team. Our business is driven by our culture, and our people are our greatest asset. If you’re looking for the opportunity of a lifetime, apply to UWM today!

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NATIONAL MORTGAGE PROFESSIONAL MAGAZINE’S

calendar of events APRIL 2019 Wednesday-Saturday, April 24-April 27 NAMMBA Connect 2019 The Westin Buckhead Atlanta 3391 Peachtree Road NE Atlanta For more information, visit NAMBA.org.

Tuesday-Friday, May 14-17 MBA’s Commercial/Multifamily Servicing & Technology Conference 2019 JW Marriott Los Angeles L.A. LIVE 900 West Olympic Boulevard Los Angeles For more information, visit MBA.org.

Tuesday-Wednesday, April 30-May 1 MBAAL Spring Convention 2019 Hyatt Regency Hotel 1000 Galleria Circle Birmingham, Ala. For more information, visit MBAAL.org.

Wednesday-Saturday, May 15-18 NAPMW 2019 Annual Education Conference “Jazzin’ Up Mortgage in the Big Easy” Hotel Monteleone 214 Royal Street • New Orleans For more information, visit NAPMW.org.

MAY 2019 Wednesday-Friday, May 1-3 2019 Wyoming Mortgage Lenders Conference Location to be determined Sheridan, Wyoming For more information, visit wymla.com.

Monday-Wednesday, May 13-15 2019 Mid-Atlantic Regional Conference MGM National Harbor 101 MGM National Avenue Oxon Hill, Md. For more information, visit MARCMBA.org. Monday-Wednesday, May 13-15 2019 OMBA Annual Convention “Journey To the Top” Columbus Marriott NW 5605 Blazer Parkway Dublin, Ohio For more information, visit OhioMBA.org.

JUNE 2019 Sunday-Wednesday, June 2-5 MBA’s Chairman’s Conference 2019 Silverado Resort 1600 Atlas Peak Road Napa, Calif. For more information, visit MBA.org. Thursday-Saturday, June 6-8 MBA/WBA 2019 Annual Meeting & Convention Snow King Resort 400 East Snow King Avenue Jackson, Wy. For more information, visit MontanaBankers.com. Thursday, June 20 MBA’s Document Custody Workshop Ritz-Carlton, Tysons Corner Tysons Galleria 1700 Tysons Boulevard McLean, Va. For more information, visit MBA.org.

Wednesday-Saturday, July 31-August 3 FAMP 60th Annual Convention & Trade Show Walt Disney World Swan and Dolphin 1500 Epcot Resorts Boulevard Lake Buena Vista, Fla. For more information, visit OurFAMP.org.

Friday, September 20 2019 UAMP Mortgage Expo Marriott at City Creek 75 South West Temple Salt Lake City, Utah For more information, visit UAMP.net. OCTOBER 2019 Thursday, October 24 AZAMP Annual Expo 2019 JW Marriott Phoenix Desert Ridge Resort & Spa 5350 East Marriott Drive • Phoenix, Ariz. For more information, visit AzAMP.org. Sunday-Wednesday, October 27-30 MBA’s 2019 Annual Convention & Expo Austin Convention Center 500 East Cesar Chavez Street Austin, Texas For more information, visit MBA.org.

AUGUST 2019 Monday-Tuesday, August 26-27 NEXTSummer19 The Gwen Hotel 521 North Rush Street Chicago For more information, visit NEXTMortgageConference.com.

NOVEMBER 2019 Tuesday-Thursday, November 5-7 NCRA 27th Annual Conference The DeSoto Hotel 15 East Liberty • Savannah, Ga. For more information, visit NCRAInc.org.

SEPTEMBER 2019 Saturday-Monday, September 14-16 NAMB National 2019 Conference & Trade Show Caesar’s Palace 3570 South Las Vegas Boulevard Las Vegas For more information, visit NAMB.org.

Thursday, November 14 FAMP’s 2019 Miami Mortgage Convention Trade Show DoubleTree by Hilton Hotel Miami Airport & Convention Center 711 NW 72nd Avenue • Miami For more information, visit MiamiFAMP.org.

Sunday-Tuesday, September 15-17 MBA’s Risk Management, QA & Fraud Prevention Forum 2019 Sheraton Grand Chicago 301 East North Water Street Chicago For more information, visit MBA.org.

Monday-Wednesday, November 18-20 2019 NRMLA Annual Meeting & Expo Nashville Omni 250 5th Avenue South Nashville, Tenn. For more information, visit NRMLAOnline.org/event/2019-annualmeeting-expo.

To submit your entry for inclusion in the National Mortgage Professional Calendar of Events, please e-mail the details of your event, along with contact information, to newsroom@mortgagenewsnetwork.com. *Looking for additional exposure at key industry events? Call 516.409.5555, ext. 4 to discover how to maximize your event coverage.

n National Mortgage Professional Magazine n APRIL 2019

Sunday-Wednesday, May 5-8 MBA’s Legal Issues and Regulatory Compliance Conference 2019 Hyatt Regency New Orleans 601 Loyola Avenue New Orleans For more information, visit MBA.org.

Monday-Tuesday, May 20-21 NRMLA 2019 Eastern Regional Meeting InterContinental New York Times Square 300 West 44th Street New York, N.Y. For more information, visit NRMLAOnline.org/event/2019-easternregional-meeting.

Monday-Wednesday, July 22-24 The Appraisal Institute 2019 Annual Conference Hyatt Regency Denver at Colorado Convention Center 650 15th Street Denver For more information, visit Appraisalinstitute.org.

Thursday-Friday, September 19-20 2019 VMLA Annual Convention Richmond Downtown Marriott 500 East Broad Street Richmond, Va. For more information, visit VirginiaMLA.org.

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Saturday-Wednesday, May 4-8 NAMB 2019 Legislative & Conference Liaison Capitol Hill Hotel 415 New Jersey Avenue NW Washington, D.C. For more information, visit NAMB.org.

Sunday-Wednesday, May 19-22 MBA’s National Secondary Market Conference & Expo 2019 New York Marriott Marquis 1535 Broadway • New York, N.Y. For more information, visit MBA.org.

JULY 2019 Sunday-Tuesday, July 14-16 Summer CAMP 2019 San Jose Marriott 301 South Market Street San Jose For more information, visit TheCAMPSite.org.

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governance documents, and our audit protection plan. Available in all 50 states. We have hands-on experience with regulators and audits. No theories here; we were Bankers. If you find yourself in federal court, we can handle that as well. Contact Nelson Locke at (800) 656-4584. Or you may e-mail us at nl@lockelaw.us All inquiries will be kept strictly confidential. This is not an offer for legal services, but rather for his expert review and opinion about your particular compliance situation. All fact patterns are different so the results will vary. No guarantees are expressed or implied. Licensed by California and Federal Bar. NMLS 149450.

AUDIT TECHNOLOGY

ACES Risk Management (ARMCO) 1000 West McNab Rd. Pompano Beach, FL 33069 (800) 858-1598 www.armco.us

BOOTS ACROSS AMERICA TOUR 2019 Beverly@BootsAcrossAmerica.org Certified Military Home Specialist Beverly Ray Frase "Training Boots on the Ground" Since 2009 • Trained 3,000 CMHS course grads • Trained for Depts of HUD, Treasury & more • 20+ years' experience in real estate & finance, military life COMING TO YOUR CITY!

COMPLIANCE CONSULTANTS

HARD MONEY/PRIVATE LENDING

BROKERS COMPLIANCE GROUP 167 West Hudson Street – Suite 200 Long Beach | NY | 11561 members@brokerscompliancegroup.com www.BrokersComplianceGroup.com

Direct Private Money and Bridge Lender specializing in Stated Loans in CA 866-668-2663 Send Scenarios to info@CalHardMoney.com

Division of Lenders Compliance Group, BCG is the first and only mortgage risk management firm in the U.S. devoted to supporting the unique compliance needs of residential mortgage brokers. Leveling the Playing Field for Mortgage Brokers Low Cost Monthly Membership Includes: • Free Weekly Hotline • Access to Subject Matter Experts • Policies and Procedures • Webinars *Special Pricing* • Quality Control • Exam Readiness • Licensing • Legal Reviews

COMPLIANCE CONSULTANTS

LENDERS COMPLIANCE GROUP 167 West Hudson Street - Suite 200 Long Beach | NY | 11561 | (516) 442-3456 www.LendersComplianceGroup.com The first full-service, mortgage risk management firm in the country, specializing exclusively in mortgage compliance. Pioneers in outsourcing solutions for mortgage compliance.

ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation’s top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions.

EDUCATION

Our Compliance Team Will: Leverage your existing employees. Improve your productivity. Collaborate on projects. Make the most of your current technology. Bring innovation to your company. Be a strong cultural fit. Free you to focus on your core competencies. Give you access to world-class expertise. Lower your total operational costs.

LENDING CRITERIA · Collateral: Stated 1st and 2nd position loans on N/O/O invest. properties (SFR, Condo, 1-4 units), Mixed-use, 5+ units, Retail, Industrial, Warehouse and Etc. · Fix & Flip program up to 70%-80% of the Purchase price on all types of properties · Loan amounts/Terms: $50,000 up to $5,000,000 and loans from 6 months to 10 years. · LTV: Purchases up to 70%-80% LTV; Refinances up to 60-65% LTV; 2nd Position up to 65% CLTV · BROKERS ALWAYS PROTECTED AND RATES STARTING AS LOW AS 8.50%

PRIVATE FINANCING

PUBLICATIONS

WHOLESALE/CORRESPONDENT LENDERS

Greenbox Loans, Inc 3250 Wilshire Blvd., Suite 1900 Los Angeles, CA, 90010 (800) 600-9198 www.greenboxloans.com Greenbox Loans, Inc. is a proven leader in the Non-QM & Non-Prime lending environment offering bank statement programs, foreign national lending solutions, along with programs allowing for recent short sale, foreclosure, bankruptcy for borrowers as low as 500 Fico Score. Greenbox Loans, Inc. is a national lender offering its programs through a multiple of channels including Retail, Wholesale, and Investor Specialty division.

PUBLICATIONS

FUTURE EVENTS

WHOLESALE LENDERS

REMN Wholesale www.remnwholesale.com 866-933-6342

Interested in joining our Wholesale Division? Send your resume to aerecruiting@remn.com

Go to http://nmpmag.com/mostconnected

WHOLESALE LENDERS

n National Mortgage Professional Magazine n APRIL 2019

RECRUITMENT

NationalMortgageProfessional.com

REMN has FHA, USDA, 203k, VA and Conventional solutions to fit the needs of your customers. But, at REMN, our most valuable product is our people. The REMN Sales and Operations Teams give you - and your loans - the time and attention that you deserve. Even better, at REMN, same-day approvals are guaranteed.* You can rely on us to get the little, yet vital, things taken care of on time.

YOU BELONG HERE.

ENGAGE YOUR AUDIENCE In-house production studio and team

MANAGE YOUR PIPELINE GoGo LO mobile app

BUILD YOUR REPUTATION Automatic posting of your positive online reviews

GROW YOUR PARTNERSHIPS Co-branded marketing with your real estate partners

CATER YOUR MARKETING In-house print room and marketing material library

EXPAND YOUR REACH Award-winning marketing team that works for YOU

WE PROVIDE THE TOOLS. YOU BUILD YOUR FUTUR E .

APRIL 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Join Our Team! 888.978.8608

teamnewamerican.com

WE’RE GROWING! Apply Now At JoinAngelOak.com

Don’tt Gett Left in the Dust D Angel Oak Mortgage Solutions Visit www.Ang gelOakMS.com/NMP orr call 855.631.9943. Grow With the Leader in Non-QM Wholesale and Correspondent Lending. © Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 980 Hammond Drive, Suite 850, Atlanta, G GA, 30328. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, V VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public. Each application is reviewed independently for approval and not all applicants will qualiffyy for the program. Angel Oak Mortgage Solutions LLC is an Equal Opportunity Lender and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, other classifications protected under Fair Housing Act of 1968. MS264_0518