DECEMBER 2020
DECEMBER 2020
nmp
Volume 12, Issue 12
THE FORTY
HOW
MORTGAGE TECH SAVED 2020
LETTER FROM THE PUBLISHER
What Follows A Year Unlike Any Other
W
e are now wrapping up 2020. For the world at large, this has been a year of plague, wildfire, unemployment, contentious politics, civil protest, flooding and famine. For the mortgage industry, it’s been a year of extraordinary gains, record profit, unheard of commissions and roundthe-clock work to process the sheer, mountainous, never-ending volume. But that the public at large and our colleagues in the industry are both exhausted, it’s hard to see a more dichotomous landscape. Still, there’s probably a good lesson in this for both groups: Get ready for the next round, because what happened in the last wasn’t really up to you. While climate change issues will take significant time to address, vaccine rollouts and economic stimulus could be very helpful to getting the world back on track. While politics, by its nature, is always pitting one idea against another, perhaps the conversation will at least be less venomous without an insulter-inchief in the mix. It’s even possible there might be constructive discussion toward addressing the problems underlying our civil unrest. At the very least, we can begin preparing as though those positive changes are possible.
THE SUCCESS SCENARIO On the mortgage side, preparation is also warranted, but for the opposite reason. Interest rates may remain very low for a long time. But other economic forces (rising unemployment, mortgage defaults and the like) will, eventually, impact this industry, and the rushing pipeline will slow. Sales pros who get used to a year or two of extreme earnings will need to be more proactive in keeping that deal flow going. And those who’ve planned out not just a month or so into the future, but have mapped out a year or two of probabilities will be the ones most likely to capitalize on the coming upheavals. There has never been a time when business has continually flowed, never ebbed. It will change, it will slow, or it will divert into different eddies, but it will not remain constant. It may be short time or it may be many months, but when it arrives those who have planned for it will be the ones who claim the prize. At our website – nationalmortgageprofessional.com – as well as at our sister site – originatorconnectnetwork.com – you’ll find scores of stories and advice from top execs that will help you in that planning. And we have a dozen online events and more than 20 live events scheduled into 2021 to be a resource to you. It is, after all, the end of the year. But it’s not the end of the story. The story of your success is still being written.
VIN CE N T M. VALVO Publisher, Editor & CEO 4
The new breed of mortgage professionals pushing progress
CYBER SECURITY RISKS GROW
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STOP
THE SOCIAL MEDIA RANTING
Volume 12, Number 11
STAFF CEO, PUBLISHER & EDITOR Vincent M. Valvo ASSOCIATE PUBLISHER Beverly Bolnick SENIOR CONTRIBUTING EDITOR Keith Griffin CONTRIBUTING WRITERS Lew Sichelman, Erica LaCentra, Ralph LoVuolo, Harvey Mackay, Pam Marron, Nick Roberson, Mary Kay Scully GRAPHIC DESIGN MANAGER Stacy Murray INTERACTIVE DESIGN DIRECTOR Alison Valvo USER EXPERIENCE DESIGNER Billy Valvo ONLINE CONTENT DIRECTOR Navindra Persaud MARKETING & EVENT ASSOCIATE Melissa Pianin HEAD OF ENGAGEMENT AND OUTREACH Andrew Berman FOUNDING PUBLISHER Joel Berman
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