NMP National Mortgage Professional January 2022 by ambizmedia

JANUARY 2022

nmp

Volume 14, Issue 1

DOUBLE DOWN On Realtor Relationships

SHOUT IT OUT! Make sure your brand is >> speaking to your prospects

PEOPLE WHO NEED PEOPLE Why mortgage tech needs to slow down and let lenders speak

GIVE YOUR EMPLOYEES

A HEARING SPECIAL SECTION:

NON QM SHOWCASE

BACK COVER

PARTNER WITH THE LEADER IN NON-QM MORTGAGE LENDING MORE EXPERTISE | MORE SERVICE | MORE TECHNOLOGY

Visit AngelOakMS.com | 877.926.3073 ©Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 980 Hammond Drive, Suite 850, Atlanta, 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, VA, the U.S. government or any federal, state or local governmental body. This is a business-tobusiness 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 qualify 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. MS_A252_1220

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JANUARY 2022

FRONT COVER

Volume 14, Issue 1

DOUBLE DOWN On Realtor Relationships

SHOUT IT OUT! Make sure your brand is >> speaking to your prospects

PEOPLE WHO NEED PEOPLE Why mortgage tech needs to slow down and let lenders speak

GIVE YOUR EMPLOYEES

A HEARING SPECIAL SECTION:

NON QM SHOWCASE

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

JANUARY 2022

Volume 14 Number 1

CONTENTS

nationalmortgageprofessional.com 4 The Gig Economy Mortgage Market If 2020 and 2021 were the years refinances were king, 2022 will be the year of Non QM.

12 Build-A-Broker: Comfy And Closing Deals How to build an ergonomic office that ratchets up productivity.

6 Give Your Employees A Hearing You can’t lead your sales team if you can’t hear what’s on their minds. Open your ears to be a better communicator. 8 On Brand, And Out Loud You’ve gone to a lot of trouble to build a brand. But it won’t be as effective as you’d like if you don’t make sure everyone’s hearing your message. 11 People On The Move See who the movers and shakers are in the mortgage industry.

COVER STORY

14 My First Million: Greater Than The Greatest Getting to the top means only thing: it’s time to try to go even higher.

PAGE 24 NMP MAGAZINE EXCLUSIVE

16 Jumpstarting Your Personal Sales Network There’s no better time than now to look at juicing your contacts with Realtors, homebuilders and more. 17 Wholesaler Directory 18 OriginatorTech Directory 19 DataBank

AN ERGONOMIC OFFICE GETS GREATER PRODUCTIVITY PAGE 12

20 The Next Year In Housing It’s all up, up, up for home sales, prices and inventory. 23 Self Employed, By The Numbers An infographic chock full of great stats about the self-employed, a growing percentage of borrowers that every originator needs to know.

24 COVER STORY: The Winter Of Our (Tech) Discontent Mortgage lenders leaned heavily into tech when Covid hit. Maybe a little too heavily, as recent consumer satisfaction research show borrowers want a little more personal TLC. 26 Non QM Showcase 30 Facebook Thoughts: AKA, “Plane Speaking”

nationalmortgageprofessional.com

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

JANUARY 2022

nmp

Volume 14, Issue 1

DOUBLE DOWN On Realtor Relationships

PEOPLE WHO NEED PEOPLE Why mortgage tech needs to slow down and let lenders speak

SHOUT IT OUT! >> Make sure your brand is speaking to your prospects

GIVE YOUR EMPLOYEES

A HEARING SPECIAL SECTION:

NON QM SHOWCASE

LETTER FROM THE PUBLISHER

Volume 14, Number 1

STAFF

Outside The Bounds

hen Covid-19 first struck in early 2020, the Non QM lending industry stood frozen, as investors paused to see what this would mean for

these loans. The economy was in freefall, with jobless numbers soaring to the heights. And Non QM loans were for borrowers who didn’t fit the standard economic profile. So it’s no wonder everyone took a step back. Some, though, wondered if it would ever take a step forward again. Well, the answer to that is that it not only resumed its march, it’s as though it’s competing in Olympic track and field. With refinances slowing, it’s likely that traditional government-backed loans won’t be the sector to pick up the slack. Small business owners, gig economy workers, asset-rich borrowers are all looking at Non QM as the product that will work for them. And that’s why its growth is estimated to

CEO, PUBLISHER & EDITOR Vincent M. Valvo ASSOCIATE PUBLISHER Beverly Bolnick EDITOR David Krechevsky SENIOR CONTRIBUTING EDITOR Keith Griffin CONTRIBUTING WRITERS Lew Sichelman, Erica LaCentra, Harvey Mackay, Nick Roberson, Mary Kay Scully STAFF WRITER Katie Jensen DIRECTOR OF STRATEGIC GROWTH Alison Valvo GRAPHIC DESIGN MANAGER Christopher Wallace MARKETING MANAGER Michael Castro GRAPHIC DESIGNER Stacy Murray USER EXPERIENCE DESIGNER Billy Valvo

more than double in 2022.

ONLINE CONTENT DIRECTOR Navindra Persaud

MORE ATTENTION

MARKETING & EVENTS ASSOCIATE Melissa Pianin

In this issue, we share a roster of some of the best Non QM lenders in the nation. And we’ve increased our overall reporting on this sector, including a weekly Non QM newsletter informing the origination community of industry happenings. Our first Non QM Summit in Las Vegas was a sold-out, packed-

HEAD OF ENGAGEMENT AND OUTREACH Andrew Berman FOUNDING PUBLISHER Joel Berman

house affair. It will return to Sin City in August. But before then, we’re running an east coast edition this month at Mohegan Sun in Connecticut, as a pre-conference event for the New England Mortgage Expo. Non QM is a stronger, more disciplined product than the old subprime loans it’s sometimes compared to. In fact, the differences are vast, with investors focused on solid fundamentals, proof of income and good credit from borrowers. All of that makes this not just a good addition to an originator’s arsenal, but a necessary one. And, as 2022 rolls out, being facile in the Non QM space is going to become something that likely defines the top originators of the year.

VIN CE N T M. VALVO Publisher, Editor & CEO

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Submit your news to editorial@ambizmedia.com If you would like additional copies of National Mortgage Professional Call (860) 719-1991 or email info@ambizmedia.com

www.ambizmedia.com

© 2021 American Business Media LLC All rights reserved. National Mortgage Professional magazine is a trademark of American Business Media LLC. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to: American Business Media LLC 345 North Main St., Suite 313 West Hartford, CT 06117 Phone: (860) 719-1991 info@ambizmedia.com

MULTIFAMILY FINANCING

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

AVE HERSHMAN

RECRUITING, TRAINING AND MENTORING CORNER

Talk The Talk

A Key to Great Leadership: Communication Skills BY DAVE HERSHMAN | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

key to great leadership is the display of great communication skills. Obviously great communication

is important in many facets of

· Start by making the other person

is the remainder of the time.

comfortable with the fact that

Communicate when good things

you will listen. Encourage them

happen, plus when corrections need

to talk using statements such as

to be made or there is important

“I really need your help,” or “I

news. For example, consistent

really value your feedback.”

success stories will provide positive

· Don’t be closed in your

motivation. These should be

a manager’s job. This includes

response. Use body language

interspersed with updates, policy

networking, interviewing and

such as nodding your head in

changes, etc.

reference checking skills. For

understanding and respond with

example, the first challenge for a

questions that are empathetic to

new employee is to understand and

their information. For example,

GREAT COMMUNICATION IS DIVERSE.

agree to their job responsibilities.

“What might you do to change

It is in writing and verbal. It is

this system”?

before groups and one-on-one.

GREAT COMMUNICATION IS TWO-WAY. Two-way communication means that a manager has to elicit and listen to feedback. It does not

· Above all, thank them for their

Having large meetings by themselves

feedback. A little thanks will

will not fulfill the need for individual

go a long way in showing them

meetings and fulfill individual needs.

you appreciate and value their

Putting information in writing

opinions.

will not fulfill the need for custom feedback to an individual either. In

consist of dictating to another party. There must be give and take. In

A lot can be learned from the

other words, communication should

order to get that feedback, you must

management style of Lee Iacocca. He

be delivered in a variety of ways and

be prepared to listen. The keys to

believed that successful leaders can

leaders must be the example, in this

listening, include:

listen and profit from dissent, from

regard.

people telling them they’re wrong.

Though we are using the

When Lee Iacocca headed to Chrysler,

development of job responsibilities

you can listen (a neutral place or

he realized those below him in rank

as an example, the ability to be a

at least behind closed doors and

hesitated to do just that. He also knew

great communicator will go a long

with the phone turned off). You

that this placed him in a dangerous

way to determine whether you are a

must actively resist distractions

position. So, at every key staff meeting,

manager vs a great leader. Whether

during this process.

he would name a devil’s advocate, or

you are recruiting, coaching,

what Iacocca called a contrarian. It was

producing or developing a team –

to pay attention and shows that

this person’s job to take the opposing

these communication skills will

you are interested.

view on whatever was being discussed.

make a big difference in furthering

He was successful in making sure the

your career.

· Moving to an environment where

· Take notes, which will force you

group wasn’t always steered in one direction, the Iacocca direction ... From Reinventing Leadership,

Dave Hershman, senior vice-president

by Warren Bennis and Robert

of sales for Weichert Financial Services is

Townsend.

the top author in this industry with seven

GREAT COMMUNICATION IS CONSISTENT.

books published as well as the founder of the OriginationPro Marketing System and the OriginationPro Mortgage School

Distributing a memo or newsletter

– the online choice for mortgage learning

one time per year or having one sales

and marketing content. His site is www.

meeting each year might actually

OriginationPro.com and he can be reached

highlight how poor communication

at dave@hershmangroup.com.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

RICA LACENTRA

THE XX FACTOR

Is Your Brand Voice Loud Enough?

Don’t assume potential customers can clearly hear your message BY ERICA LACENTRA | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

eyond the standard facets of a company’s brand like color schemes, design elements, and general aesthetics, a brand voice is a critical component that businesses should be utilizing to allow them to stand out from competitors. All too often though, a brand voice tends to be overlooked or not pushed to the fullest extent because it is a portion of marketing that is not as well understood. In the mortgage industry, many companies are so concerned with usage of industry terminology and how they phrase their marketing, that there is no distinguishing voice that sets their marketing apart. Especially with the increasing importance of social media as a part of a successful marketing mix, a strong brand voice is something that every company should be

working on as part of their ongoing branding efforts. So what can a company do to develop and strengthen their brand voice, and more importantly, why does it even matter?

FINDING YOUR VOICE Just like any person has a distinct way of speaking, brands typically do too. Think of when you are networking with folks at any event. What often makes certain people stand out in a setting where you are conversing with dozens, if not hundreds of people at a time, is the way they speak. It is the distinct way they converse with you, the flow of their words, their choice of language, their personality and most importantly the way they tell their story or how they express the thought or idea they are trying to get across to you. That is what makes a distinct and memorable impression on you. That is how you should think of your brand voice. A brand voice is the distinct personality that a company conveys in all of their communication. That could be in marketing materials, in advertisements, in email communications, the skies the limit. The easiest way to think of developing a brand voice for your company is, if your brand was a person, how would that person speak? What personality traits would they have? What type of language would they use in typical conversation and what phrases would they use? Once you have determined those aspects of your brand voice, it’s important to apply them everywhere your brand is communicating. And believe

it or not, yes, this not only applies to external communication with customers but also to internal communications with employees as well. While it may seem “cult-ish” it helps to reinforce branding and the personality of the company as a whole, and it builds brand loyalty not only with your customers but also with the people that make your company what it is, your employees, by making the company seem more humanized.

WHO’S EVEN LISTENING? So now that we’ve established what a brand voice is and a basic understanding of how to develop one, why does it even matter? Why not just develop marketing based on what you think people will care about day to day? Because plain and simple, consistency is key and people like to go back to a brand they feel they know and they can trust. Especially in the mortgage space, more and more lenders, mortgage brokers, and service providers seem to be popping up on a daily basis. There is an influx of marketing from companies that seem to be offering the same rates, the same terms, the same services, with no real distinctions. This is where branding and brand voice comes in. Having a consistent presence both in your branding and brand voice can create a sense of authority, transparency, and stability that newer players in the space just don't have. Also if what you are putting out there is random or inconsistent, it may often not appeal to your audience on a regular basis and customers may tune out, or not realize

its even your company in the first place. It’s important to set your brand and your brand voice to remain recognizable and trusted by your customers. Otherwise, you’re more likely to get lost in the noise.

SET THE TONE It is abundantly clear that having a strong brand voice is important so whether you are just getting started or an established company, here are the top two things you should do now to make sure your brand voice is as strong as it possibly can be. First, identify your audience and develop the right persona to mesh with them. Make sure the customers you are trying to reach are going to connect with and listen to your brand when it is “speaking” to them. If you have younger customers, older phrasing or verbiage will likely alienate your audience, just as younger slang would turn off an older audience. Make sure the brand voice is authentic and addresses your core demographic in an appropriate way. Secondly, develop a document outlining the brand voice “persona” with

Having a consistent presence both in your branding and brand voice can create a sense of authority, transparency, and stability that newer players in the space just don't have. writing samples so that your marketing team understands what the brand voice of the company is and can be authentic to that initial vision. If you have numerous people across your organization handling different marketing channels, this is where inconsistencies can occur. Make sure the team is on the same page when it comes to branding and brand voice. If you already have current marketing, this is a great time to evaluate what you already are sending out to customers across multiple channels to see if, one, the language and phrasing you are using would resonate with your customers, and two, if your voice is consistent across all platforms.

GET LOUD Finding your brand voice is not an easy effort, much like developing your company’s brand but it is important to your business’s overall success. Just like a brand, remember to regularly review your brand voice and look for ways to refine and improve it. Over time it may need updates or even a major overhaul depending on where your company goes. Make sure to allow it to evolve and grow with your company, but most of all, make sure to use it.

Erica LaCentra is Chief Marketing Officer for RCN Capital.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

When you want tech that adds speed,

We love enhancing our innovative tech to make your job easier and more streamlined. Now all Rocket Connect submissions can be resolved in 2 business hours – giving you speed and certainty to compete stronger and be more responsive. Need an extra set of eyes or want us to take a closer look? You can now escalate to a leader – getting the solutions to keep your business moving. When you want to strengthen your business, Rocket Can. Learn more at RocketProTPO.com. Rocket Mortgage, LLC; NMLS #3030; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Rocket Mortgage, LLC, 1050 Woodward Ave., Detroit, MI 48226 Licensed Mortgage Banker-NYS Department of Financial Services; OH: MB 850076; OR: License #ML1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply.

©2000-2021 Rocket Mortgage, LLC. All rights reserved. Lending services provided by Rocket Mortgage, LLC, a subsidiary of Rocket Companies, Inc. (NYSE: RKT). “Quicken Loans” is a registered service mark of Intuit Inc., used under license.

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HOW NMP’S MONTHLY SECTION OF HANDS-ON PRACTICAL ADVICE

BUILD A BROKER How To Set Up An Office That Won’t Break The Back YOUR FIRST MILLION DOLLARS How To Get Your GOAT On How To Take Back Control Of Referral Relationships CAREER TICKER: People On The Move

PEOPLE ON THE MOVE //

> American

Advisors Group named Kristina Larese as the company’s new chief compliance officer.

> Revolution

Mortgage named Justin Dudek as a branch production manager for its new location in Chicago, IL.

> Stavvy,

a fintech company named Angel Hernandez as its head of industry and regulatory affairs.

> Revolution

Mortgage announced the opening of its third branch location in Maine, located in South Portland and led by branch production manager, Peter Jose.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

BUILD-A-BROKER: HANDS ON PRACTICAL ADVICE

BUILD-A-BROKER

Setting Up An Ergonomic Office Get greater productivity, less burnout in just a few simple steps

or a small business owner and his or her employees, today’s workplace typically requires spending most of your time in front of a computer or on a mobile device. Whether you are a home-based solo originator tapping away on a laptop on your sofa, or you own a growing brokerage with dozens of employees in an office setting, there are some important steps you must take to create an ergonomic office.

ERGONOMICS IS DEFINITION An ergonomic office has many benefits. It enables you and your team to work more efficiently because you don’t physically tire out as fast. Ergonomic design helps prevent back pain, eyestrain and repetitive motion injuries such as carpal tunnel syndrome. Equally important, an ergonomic workplace prevents small aches and pains from developing into musculoskeletal disorders (MSDs), which are potentially crippling injuries. Ergonomics matter because if you have employees, an employee who develops an injury in the workplace can be eligible for worker’s compensation or even sue your business. It’s also important if you’re a one-person operation—if you are in so much pain you can barely work, what will happen to your business?

Here are four steps for developing an ergonomic workplace.

1. OBSERVE Sustained, repetitive or awkward motions can take place in many industries, from typing in an office to lifting boxes in a warehouse or loading and unloading a dishwasher in a restaurant. Whatever your industry, observe the actions you and your employees do over and over. · Are you standing or sitting in the same position for long periods? · Do you frequently perform awkward movements (such as lifting heavy loads)?

· Do you make the same motion over and over? · Is your posture straight or slumped? Next, notice whether you feel discomfort. · Are you squinting or getting headaches? · Are your muscles tight? · Does your back hurt? Ask your employees, too. If people are feeling pain—even the beginning signs of pain—then you need to alleviate it.

PEOPLE ON THE MOVE //

> Guild

Mortgage named 25year mortgage banking veteran Russ Fowlie executive vice president of loan servicing.

> Ross

Mortgage Corporation, a full-service residential mortgage lender, hired Laura Rossol as the company’s corporate recruiter.

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

> The

Washington Trust Company hired Matthew McCarthy as a mortgage loan officer.

> Guaranteed

Rate named Ryan Ogata as divisional manager overseeing the company’s Northwest market, including Alaska, Oregon, Washington, and Northern California.

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2. ADJUST Many MSDs can be prevented with some simple adjustments to the workplace. These can include office equipment such as: · Adjustable desk chairs · Lumbar support pads · Under-desk keyboard trays to put computer keyboards at a proper height · Adjustable stands for computer monitors · Wrist or back braces for typing or lifting · Task lighting such as a desk lamp Often, you can create a more ergonomic workplace without purchasing anything new. For example, if glare from a window is making it hard to see a computer screen, try moving your desk or rearranging where the computer sits. If your monitor is too low, put a book under it. You can also improve ergonomics by adjusting the way you and your employees work. For instance, if a job requires lifting heavy boxes for an hour, have employees take turns so that no one is lifting for more than an hour at a time.

3. BREAK IT UP Taking regular breaks is key to getting the full benefits from an ergonomic workplace. Basically, a break should provide the chance to do the opposite of your normal posture and tasks. If you work hunched at a computer eight hours a day, get up, stretch and walk around once an hour. If you stand most of the day, sit down and rest or walk around. Give your eyes a regular break from the computer or phone screen by staring at a blank wall, closing your eyes,

We Have Mortgage Jobs.

or rubbing your hands together and cupping them over your closed eyes for a minute. If you have employees, you can have everyone take breaks at the same time and lead the team in some gentle stretches, walking in place or other light exercise.

4. MONITOR RESULTS Monitor the results of the changes you make and continue adjusting your workplace as needed to make it more ergonomic.

> Guild

Mortgage named Mike Medlock as the branch manager for the company’s Lee’s Summit, Missouri location.

> Guaranteed

Rate hired Tim Sorenson as a divisional manager of the company’s Southwest market, incl. Hawaii, Utah, Nevada, and Southern California.

• Branch Manager • Business Development Manager • Client Relationship Manager • Client Relationship Specialist • Collateral Asset Manager • Commercial Loan Officer • Credit Analyst • Licensing Assistant • Loan Officer • Loan Mitigation • Post Closing QC Expert • Loan Administration Manager • Processor • Regional Vice President • REO Closer • Retail Branch Manager • Reverse Mortgage Specialist • Sales Manager • Underwriter • Wholesale Account Exec • And MORE! Resposes are from highly-qualified candidates. Your ad can also be [osted on Indeed and SimplyHired as a FEATURED JOB, on Craigslist in most cities, Googlebase, Oodle, Juju, CareerMetaSearch, TopUSAJobs, Jobalot and MORE! Pay-per-use RESUME BANK.

findmortgagejobs.com

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LEADERSHIP LESSONS

Never Stop Getting Better Why ‘The Greatest’ never settle for being the best BY HARVEY MACKAY | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL

o you know what makes someone worthy of the title “greatest of all time” or GOAT? It’s so much more than natural

talent, excellent coaching, or dumb luck.

No, it’s the constant effort to improve. Even those at the top of their game must keep getting better no matter how many victories they have amassed. And this isn’t just confined to sports. The “GOAT” designation can be applied to every kind of occupation. One example that comes to mind quickly is Tom Brady, superstar

REALITY CHECK

all sports, from Michael

themselves with what I

Jordan in basketball to

call “Yes” people. What

Serena Williams in tennis

I’m referring to are people

and Wayne Gretzky in

who kiss up to you and tell

hockey, they all tried to

you the things you want

improve every day and

to hear. When I ask people

season. Jordan picked

for advice on something,

something to work on

I always preface it with, “Don’t tell me what I want to hear.” Like Brady, I realize that the only

during each off-season to be better the following year, be it rebounding, three-point shooting or

way to get better is with honest

defense. How many times have you

feedback. The amazing thing about

heard an athlete say they are just

Tom Brady is that he is already the

focused on getting better every day?

GOAT and yet he wants to get better.

It’s much the same in business.

He knows that if you want to be great

Look at Warren Buffet, investment

you have to continue to improve.

genius and one of the world’s richest

quarterback of the Tampa Bay Buccaneers, formerly of the New England Patriots. He was recently interviewed in the “Wall Street Journal Magazine” and talked about how he strives to get better every day. In particular, he was asked “What’s one thing you have too much of?” Brady answered: “I have too many people who tell me too many nice things. I feel like I need more critical evaluation of certain things. So many people want to try and please me. A lot of people don’t want to let me down. But it’s nice to get a real straight, truthful answer.”

PEOPLE ON THE MOVE //

> Deephaven

hired Steve Lemon as the company’s senior vice president and national head of wholesale sales.

Look at the greats in

Too many people surround

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

> UniversalCIS |

Credit Plus hired Shelley Leonard as president and a member of the company’s Board of Directors.

people. At age 91 he is still trying to get better every day. He has no intention of slowing down.

SUCCESS SECRETS

You should never accept what can be offered to you if you feel it can be improved.

As Will Rogers said, “Even if you are on the right track, you’ll get run over

success and outperformed even their

daresay humanity would still be

if you just sit there.” Complacency is

seemingly impossible ambitions.

living as in prehistoric times had

death. Even if you’re doing the right

Somehow, they find the inspiration or the courage to take the next step. They

our ancestors not tried constantly to

thing, if you’re not moving forward and getting better, you’ll get run over.

may not become the GOAT, but they

The competition will overtake you.

don’t quit just because they’ve had a

Elon Musk is another shining example. From electric cars to outer space, Musk just keeps reaching

improve their lot. Chinese philosopher Confucius, who lived during the 6th century BCE, offered this wisdom:

little success. Half the fun is in the

“The will to win, the desire to succeed,

pursuit of greatness.

the urge to reach your full potential .

further and further – and now his

BEYOND PERFECT

. . these are the keys that will unlock

SpaceX company has been ranked

Every day is a chance to be better

the door to personal excellence.”

as the second most valuable private

than the day before. We can always

company in the world.

make room in our lives to get better,

A hundred years ago, who would have imagined the innovations in

Lifestyle maven Martha Stewart

whether that means improving our

offered this philosophy, “You should

health, our finances or our personal

never accept what can be offered to

relationships. Even if we think things

you if you feel it can be improved.”

are perfect, there’s likely an area or

She has plenty of experience with

two where we could put in a little extra

improving all sorts of everyday items.

work. That’s not to say that self-

You don’t have to look far to find examples of people who have achieved

improvement is always easy: It’s not. We didn’t invent this concept. I

communication, transportation, medicine and so many other parts of our lives. A hundred years from now, who knows? Mackay’s Moral: If it ain’t broke, you can still fix it.

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HOW: HANDS ON PRACTICAL ADVICE

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MARY KAY SCULLY

BENCHMARKS & BEST PRACTICES

Reach Out And Touch

How better communication can increase your bottom line BY MARY KAY SCULLY | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

t the start of a new year, everyone is setting professional goals and searching for ways to improve. There is something about the beginning of the year that makes everyone want to do and be better. Maybe it’s time to take some continuing education courses or you want to challenge yourself by learning a new area of the business. Everyone will likely have something they want to do this year to improve their career. No matter what your goals are for the new year, I want to challenge lenders to make it a goal to be better communicators. Why? While at face value, being a better communicator does not sound like the goal that’s going to have the biggest ROI or drive your bottom line, I would argue that it’s one of the best investments you can make in your business. Purchases are coming back and refinances are declining, so it’s time to get back to the grind. You need to be in touch with your Realtors, as well as past borrowers to make sure you’re setting yourself up for success in a purchase

market. If you have not already been doing this, the time to start is right now.

REALTORS With the increase in refinances this past year, you may have fallen out of touch with many of your Realtor contacts. In a purchase-driven market, it is critical to be in touch with your realtors on a regular basis. According to Shape, up to 21% of your referrals will come from Realtors and I would argue that figure is even higher today. Regardless, around a quarter of your business – if not more – depends on your relationship with realtors. If you have not reached out in a while, now is the time to touch base with them. Especially over the next few months as we gear up for the spring homebuying season, make sure you are at the top of your Realtor’s “must call” list. Ensure they have your correct contact information and connect with them on social media platforms to remain in their orbit. If your name stays in front of them, there’s greater likelihood that they’ll not only remember you, but also make referrals.

BORROWERS The same applies to your past customers. Homebot found that 71% of borrowers will forget about their LO within 13 months after the transaction, so they likely will not use the same lender again. This is an interesting finding, because their decision is not usually based on a bad experience, it is just because people are not thinking about staying loyal to the same LO. Staying in touch can help keep you top of mind with borrowers and prompt them to choose you next time they need a loan. Make sure to reach out to your past customers

and, same as your realtors, make sure they have all your contact information. Something as simple as making sure people know how to get in touch with you can make a huge difference in who comes back. Make it as easy as you can for them. When you reach out, also be sure to share relevant opportunities with them. Renovation loans are a good touchpoint for many of your past borrowers if it looks like they are planning to stay in their homes. Do a little digging and make sure you are offering value when you reach out, rather than simply asking for business.

BUILDERS The beginning of the year is also a good time to check in with builders in your area. This can help you get an idea of inventory that may be coming down the line and can help you plan for what homebuying trends might look like locally, based on the inventory you have on the horizon. Though everyone’s goals will look a bit different, be sure to set the goal of communicating in 2022. Staying in touch with borrowers, realtors and builders will help set you up for success in the new year. However, once you get in touch, what do you say? Stay tuned for next month when we’ll dive into key areas of importance among your realtors, borrowers and builders, and why they are so central for their success – and yours.

Mary Kay Scully is the Director of Customer Education at Enact, leading the development of the company’s customer education curriculum. The statements in this article are solely her opinions and do not necessarily reflect the views of Enact or its management.

Wholesaler Directory

Acra Lending Specialty/ Niche: Non-QM / Jumbo Acra Lending is the leader in Non-QM Wholesale and Correspondent lending programs. Offering a range of programs and services geared toward helping mortgage professionals and borrowers achieve their purchase and investment goals. We are committed to providing simplicity, consistency and an optimal customer experience. States Licensed in: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MI, MN, MT, NE, NV, NH, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WY

Princeton Wholesale Specialty/Niche: The Effortless Mortgage

ACC Mortgage Specialty/ Niche: Non-QM ACC Mortgage is the oldest Non-QM lender that has never stopped lending in 22 years. We specialize in Bank Statement, ITIN, P&L, Foreign National and DSCR lending. Price, Product and Process are what make for NonQM success. States Licensed in: AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, KS, MD, MI, NV, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, WA http://ACCMortgage.com

https://acralending.com/

Bio: Princeton Wholesale is headquartered in Pittsburgh, PA driven by the mission to show up every day and improve our mortgage process for our broker partners and their customers. We believe that customer loyalty is earned by providing a consistent, effortless experience and by doing the right thing, every time. States Licensed in: Alabama, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin http://princetonwholesale.com

First National bank of America Specialty/ Niche: Non- QM Angel Oak Mortgage Solutions Specialty/ Niche: Non-QM, Non-Agency Angel Oak Mortgage Solutions is the leader in the non-QM mortgage space. We offer alternative specialized mortgage solutions for brokers throughout the country helping borrowers who don’t fit conventional guidelines. We are pioneering a fresh approach to today’s mortgage lending challenges helping partners to grow their business.

Bio: FNBA is a portfolio lender with over 65 years of experience. We understand that in the Non-QM business, service makes all the difference. That’s why we are committed to providing you with the fastest turn times, exceptional service and loan programs that make growing your business easy! States Licensed in: All 50 States http://www.fnba.com/mortgage-brokers

States Licensed in: AL AK AZ AR CA CO CT DE FL GA HI IL IN IA KS KY LA ME MD MI MN MS MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VA WA WV WI WY DC www.angeloakms.com Freedom Mortgage Specialty/ niche: VA and FHA

The Money House, INC. Specialty/ niche: DIRECT HECM LENDER GNMA ISSUER Money House On Demand is the US Division of The Money House, Inc., a Ginnie Mae Forward and Reverse Mortgage Issuer/ Servicer. The US Division combines a complete range of mortgage products with a unique seasoned and professional team of bi-lingual staff and resources supporting complete Wholesale and Correspondent Partner relationships. States: CA. CO, DC, FL, GA, IL, MD, OR, PR, TN, TX

As the #1 VA and FHA lender*, Freedom Mortgage Wholesale is dedicated to serving the needs of brokers, wholesale correspondents, banks and credit unions with a wide variety of products. Our local Account Executives, three Regional Operation Centers, and seasoned underwriters are committed to providing an unparalleled experience

http://www.moneyhouseus.com

*Inside Mortgage Finance, Jan-Jun 2020

States: all 50 states, the District of Columbia, Puerto Rico and the Virgin Islands. www.freedomwholesale.com NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

DIRECTORY

Calyx

Global DMS

www.calyxsoftware.com Dallas, TX & San Jose, CA

http://www.globaldms.com Lansdale, PA

We offer mortgage origination technology for small to enterprise level organizations.

Finicity a Mastercard company

Global DMS offers the most advanced appraisal technology on the market called EVO™, engineered and designed for both commercial and residential appraisal business. With a purposeful departure from outdated processes of older platforms, EVO combines 100% configurability, boasts the most userfriendly navigation possible, a userrole based workflow, the easiest to use reporting engine, as well as the only true cascading decision tool.

http://Finicity.com Salt Lake City, Utah

Finicity's Mortgage Verification Service is the one-touch, GSE-accepted digital verification of assets, income and employment. MVS leverages Finicity's open banking platform so lenders can use the best data from the best sources in the best way to deliver a winning lending experience for their customers and business stakeholders. Finicity also provides account validation services to mitigate payment risk, as well as the use of transactions, account history and statements direct from FIs that can be used for loan servicing or other needs.

Mortech a Zillow Group business https://www.mortech.com/ Lincoln, NE

As a pioneer in the digital mortgage era, Mortech provides mortgage professionals with a number of services and tools including Product Pricing, Online Rate Quoting, and Secondary Marketing solutions to help automate their workflow, giving them more time to focus on business growth. Product offerings: • Instant pricing from multiple investors at the touch of a button. • Streamlined secondary desk with tools such as historical pricing, centralized lock desk, and more. • Quote live mortgage offers to a broader audience with access to the largest portfolio of mortgage marketplaces. • Ability to re-capture current customers and gain new purchase leads with predictive analytics

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ReadyPrice http://www.readyprice.com San Jose, CA

ReadyPrice, powered by SitusAMC, is a leading mortgage technology connecting mortgage loan originators and lenders to support more efficient loan origination. Their technology enables MLOs to manage and choose pricing, run automated underwriting, and deliver approved loans to lenders at no cost to the MLO. For lenders, ReadyPrice provides an efficient way to scale their businesses, ensuring wholesale lending rates are included in every pricing engine search while providing brokers with the easiest path to directly transfer DU approved loans. ReadyPrice technologies support FNMA, FRE, FHA, VA, USDA, VA, and nonagency (non-QM, jumbo, etc.) loan originations.

DATABANK

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

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Acra Lending is a dba of Citadel Servicing Corporation NMLS ID# 144549, Licensed under Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act license #41DBO-74196, Finance Lenders License # 60DB094450, and CA-DRE #01799059. For mortgage professionals only. This information is intended for the exclusive use of licensed real estate and mortgage lending professionals in accordance with local laws and regulations. Distribution to the general public is prohibited. Acra Lending is an equal opportunity lender. Rates, terms, and programs subject to change without notice. Offer of credit subject to credit approval per applicable underwriting and program guidelines, applicant eligibility, and market conditions. Not all applicants may qualify. Not valid in the following states: AK, HI, IA, MA, MS, MO, NM, NY, ND, OH, RI, SD, and WV.

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NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

COVER STORY ROBOTS ‘R’ US

WHEN TECH TURNS OFF THE LOAN SPIGOT

Mortgage lenders embraced new technologies. But consumer satisfaction is taking a tumble because of it. BY LEW SICHELMAN | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

ave you ever called a service provider, only to hear a mechanical list of choices rather than a human voice? You know, press 1 if you

make, except maybe for moving up the

advantage of super low mortgage rates,

housing ladder to his next home and

have stressed the origination business to

the one after that. Or maybe buying that

the max. But lenders’ inability to manage

Lamborghini he always wanted

the workflow has left borrowers with a

Perhaps he’s already on your books and collective bad taste in their mouths.

want to make a payment, press 2 if you

he needs some information about refi-

want to hear your balance, press 3 if you

nancing. Or maybe he’s looking to take

ing for years to create an effective and

want to add a service, and on and on and

out a second mortgage to pay for some

efficient origination process, primar-

on. And oh, by the way, pay attention

remodeling now that he’s been “blessed”

ily through digitization of the process

because our list of options has recently

with a couple of kidlets and a dog. Or per- and implementation of self-help tools, haps he’s looking to buy a vacation condo but the massive surge in volume has

changed. Of course, the choices never match

at the ocean and he wants to stick with

exposed some serious weaknesses in that

what you want to talk about. And good

you because the experience – so far – has

approach,” says Jim Houston, the Power

luck trying to reach a real live, hon-

been a good one.

firm’s managing director of consumer

est-to-goodness person. Press 0 as many

Whatever the scenario, are you going

lending and automotive finance intelli-

times as you like and you still are sent

to subject him to the same death march

back to the original, mechanical menu.

as described above? Lord, I hope not.

There’s nary a human within shouting

But, according to J.D. Power, too many

offer electronic applications and digitized

distance. Which is, by now, exactly what

of you are. To wit, the consumer insight

tools to streamline and expedite activities

you are doing, yelling into the phone,

company says many lenders’ efforts to

up to and including loan closing. “Today’s

“customer service” or, alternatively,

streamline workflows into a one-size-fits mortgage customers expect personalized, highly customizable experiences all machine has eroded customer satis-

“agent.” Now imagine this: What if the caller is

faction.

a first-time home buyer trying to finance what undoubtedly is the largest purchase that he (or she – or they) has ever made in his relatively short lifetime. Indeed, it may be the largest purchase he’ll ever 24

“Mortgage originators have been work-

CONSUMERS VOTE NO

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

ranted, the rush to buy houses during the pandemic, combined with the crush to refinance to take

gence. As Houston sees it, it’s not enough to

that include the right mix of technology and personal interactions based on their unique needs and wants,” he says. In particular, Power found that customer satisfaction has fallen across the board. That the process still requires some level

of human interaction. Three out of four Gen Y and Z1

now, Solidifi says borrowers have told re- fact. “As our process have become more searchers they prefer to close in an office

automated and data more digitized, we

mortgage customers who use both live

or at home vs. online. In the most recent

have become increasingly vulnerable,” he

personal service and digital self-ser-

survey, almost two thirds of those polled

writes.

vice channels during the application and

indicated they’d prefer mobile notaries

Then there’s all those other types of

approval process told the company they

to facilitate their closings, including 71

fraud -- application fraud on the front

“definitely will” consider their lender for

percent of Millennials.

end and wire fraud on the back end. Both

their next loan. When only one of these

Borrowers also prefer interaction with

two channels were used, that happiness

appraisers. Indeed, those who were able

are on the rise, the former by borrowers themselves and the latter by thieves

rate falls more than 10 percentage points. to chat with the bank’s valuation expert, Not terrible, but not good, either. Another key finding: Among Gen Y and

trying to separate borrowers from their or perhaps walk along with the appraiser, money. Imagine if you’re a borrower who had a better overall experience. In fact, just realizes he wired money to someone

Z borrowers, the perceived timeline from

two out of three said

application start to approval is shortest –

that having a full

just under 13 days on average – when live interior valuation personal service and digital self-service

– as opposed to an

are combined. But when traditional/text

automated one – gave

communication methods are added to the

them more trust in

mix, the perceived timeline increases to

their lenders.

an average of 21.5 days. That’s not counterintuitive, though

People still want in-person interactions when purchasing and refinancing their home.

Self-serving? To be sure. After all, Solidifi

it seems so. Nearly three out of 10 re-

is an independent pro-

ported that using all three interaction

vider of appraisals and title and mortgage

channels—live personal service, digital

closing services. The same could be said

he shouldn’t. Now he’s on the horn, try-

self-service and mail, email or texting—

of Ike Suri, chairman of Fundingshield,

ing to alert someone, anyone, only to hear

during their loan origination, resulting

which offers transaction-level coverage

that mechanical voice, “Press 1” to speak

in lower satisfaction and perception of

against wire and title fraud, settlement

to the janitor, “press 2” to speak to do-

lengthier timelines than when the opti-

risk, and closing agent compliance,

nate to our charity, and so on and so on. The Fundingshield executive also notes

mal combinations of interaction are used. among other things.

that “in theory,” automated underwriting

“The industry challenge is not to go all digital or all live personal service,” the report says, “but to tailor the right communication to the right customer at the right time.”

INTERPERSONAL NEED

TAP THE BRAKES

tools and AI decisioning systems used to

evaluate credit worthiness are without riting on the Forbes website bias, are fair and equitable to everyas a member of the Forbes Council, Suri says the “desire to one. But some maintain that the data drive (technology) innovation” is healthy. and variables used in those algorithms are biased, so the jury has yet to reach a At the same time, though, he suggests verdict on that. Consequently, he writes,

ow, I’m not necessarily a giant fan slowing down a bit, stepping back and of J.D. Power. It undertakes these considering how the next wave can surveys and then sells the results threaten any gains technology offers.

to the companies that could benefit from

“lenders need to take a renewed look” at the factors used to judge credit. Suri is not suggesting a return to paper;

Three threats, in particular. One is

the findings. That’s why they never share renewed scrutiny by federal and state

rather, that more energy and resources

their entire reports with the media. But

be committed to shoring up automated

regulators. Another is cyber crime, and

while I question this modus operandi, I do the third is biased algorithms.

processes. But the tech pioneer says that

not question – nor have I ever heard any-

while he’s “a big believer” in the power

one else question – their findings. And in this case, they are not alone.

Regulatory intrusion has been dis-

cussed, ad infinitum, even in this column. of technology, he also reminds all of us that providing home ownership is “funSo has cyber theft, but not enough.

In a study commissioned by Solidfi,

According to the FBI, it took seven years

the Buffalo, N.Y.-based appraisal man-

to log the first million cyber crime com-

agement outfit, Market Street Research

plaints. But in the 14 months preceding

surveyed 1,000 residential borrowers who

its report in May, another million com-

damentally” still a people business.

Lew Sichelman is a contributing writer to National Mortgage Professional magazine. have refinanced or purchased a home plaints have been registered. The full list He has been covering the housing and within the last two years. The major now approaches 6 million. Yikes! mortgage sectors for 52 years. His syndicated takeaway: People still want in-person And that’s only the ones that have column appears in major newspapers interactions when purchasing and refibeen reported, Suri points out, noting throughout the country. He also has been the nancing their home. that he has “personally seen instances” real estate editor at two major Washington, Yes, the preference for using digital where companies have failed to notify the D.C., dailies and spent 30 years on the staff of tools is on the upswing, especially among authorities that they have been attacked National Mortgage News, formerly National the whippersnappers. But for three years because they don’t want to advertise that Thrift News. NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

LET'S TALK NON-QM

“With this business,

”

they come to you.

Conventional rates are on the rise, forcing industry professionals to expand their portfolio in order to attract more business. Non-QM loans are a great product for encompassing more borrowers, but the stigma they carry from the 2008 subprime crisis have caused many in the industry to hesitate. Despite what some may think, studies from A&D Mortgage, as well as other non-QM lenders, have shown that non-QM borrowers are no different than conventional borrowers, and in most cases, are identical in their ability to repay. With the establishment of the CFPB and several new committees to monitor the mortgage market, today’s non-QM loans are much more secure and actually perform well.

Why should loan officers get into Non-QM?

How do you find Non-QM borrowers?

How do you grow your business with Non-QM?

"Non-qm is a space that many loan officers run from. And I don't know if I'd call myself a master, but I have had a little bit of success. So in terms of getting into non-qm, I think it's a sphere of our business [where] there's not much competition. I think with what we've seen over the last year specifically, we've seen a lot of the agencies tighten up guidelines, we have an entire populace of clients who haven't been able to qualify, whether that be self-employment guidelines being tightened or just market conditions in general. Especially for a new LO with not much business I can't think of a greater market to target right now."

The interesting thing is, they're all around you. My database is full of them. Full-doc, regular customers, make fantastic non-qm customers because frankly, they qualify for an awful lot more in many instances when it's not when you go in the non-qm route, many times they're disappointed in terms of what they qualify for on a full-doc, then you start talking to them about the benefits of non-qm and it opens up greater opportunities for them so databases, existing databases, is a gold mine for a loan officer for nonqm products.

“Once people find out that you can do creative programs that are outside of the norm and can help people who are in situations, they’ll start coming to you and they will refer business to you. It grows organically and it doesn’t matter what the market is doing. It’s kind of what I call recession-proof. There’s always somebody in need.” Cindy Tansin, Mortgage Capital Partners

Brad Trinkwon, Finance of America

SCAN FOR INFO

Cedric Burke, Homeside

Angel Oak’s Non-QM Mastery Series, exclusively for NMPTV:

Watch originators share their tips for growing your business with Non-QM.

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S P E C I A L A D V E R T I S I N G S E C T I O N : N ON - QM L E N DE R DIRECTORY

ACC Mortgage

Deephaven Mortgage

LoanStream Mortgage

ACCMortgage.com Area of Focus: Non-QMStates Licensed: AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, KS, MD, MI, NV, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, WA

deephavenmortgage.com Area of Focus: Founded in 2012, Deephaven is a national, NonAgency/Non-QM mortgage provider. States Licensed: AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WI WY

loanstreamwholesale.com Area of Focus: Wholesale States Licensed: AZ CA CO CT DE DC FL GA HI IL IN KY LA ME MD MA MI MN MT NV NH NJ NM NC OH OK OR PA RI SC TN TX UT VA WA WI

acralending.com Area of Focus: Non-QM / Jumbo States Licensed: in: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MI, MN, MT, NE, NV, NH, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WY Angel Oak Mortgage Solutions www.angeloakms.com Area of Focus: Angel Oak Mortgage Solutions is the leader in non-QM. States Licensed: AL AZ AR CA CO CT DC DE FL GA IL IN IA KS KY LA ME MD MI MN MS MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VA WA WV WI WY Puerto Rico U.S. Virgin Islands Arc Home LLC business.archomellc.com Area of Focus: Multi-channel mortgage leader with exceptional service and comprehensive mortgage solutions. States Licensed: AL AK AZ AR CA CO CT DC DE FL GA ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY Civic Financial Services www.civicfs.com Area of Focus: CIVIC delivers fast, honest, simple lending for real estate investors. States Licensed: AZ CA CO FL GA HI ID IL IN LA MD MA MI MN NV NJ NC OH OK OR PA SC TN TX UT VA WA WI

Luxury Mortgage Corp. luxurymortgagewholesale.com Area of Focus: Non-QM, Wholesale, Delegated Correspondent, Non Delegated Correspondent States Licensed: AL AK CA CO CT DC DE FL GA IL LA ME MD MA MI MN NV NH NJ NM NY NC OH OR PA RI SC TN TX UT VA WA WI WY

Finance of America Mortgage Conshohocken, PA www.FOAmortgage.com Area of Focus Flexible mortgage solutions designed with unconventional borrowers in mind States Licensed Puerto Rico U.S. Virgin Islands All U.S. States

Oaktree Funding Corp.

First National Bank of America www.fnba.com/wholesale Area of Focus: non-QM Lending Description of your products or services With over 65 years of lending experience, First National Bank of America specializes in Non-QM loans, nationwide. States Licensed: Continental U.S. FundLoans

www.nonqmexpert.com States Licensed: AZ CA CO CT DC FL GA ID IL IN MD MA MI MN MO NJ NM NV NC OH OR PA SC TN TX UT VA WA WI Quontic Bank quonticwholesale.com Area of Focus: No Ratio & Lite Doc Owner Occupied & Investor States Licensed All U.S. States Sprout Mortgage

www.fundloans.com States Licensed: AZ CA CO CT FL GA HI ID IL MD MT NV NC OR SC TN TX UT WA WY Global Integrity Finance LLc globalintegrityfinance.com Area of Focus: DSCR Rental NO DOC Loans States Licensed: AL AR CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NH NJ NM NY NC OH OK OR PA RI SC TN TX UT VT VA WA WV WI Impac Mortgage Corp. www.impacwholesale.com Area of Focus: Non-QM States Licensed: AL AK AZ AR CA CO CT DC FL GA HI ID IL IN IA KS KY LA MD MI MN MS MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI

www.sproutwholesale.com Area of Focus: Sprout Mortgage is a nationally recognized leader in NonQM lending. States Licensed: AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MI MN MS MO MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VA WA WV WI WY Verus Mortgage Capital www.verusmc.com Area of Focus: Full-service correspondent investor offering residential non-QM and investor rental programs States Licensed: Continental U.S.

LIVE, IN-PERSON! Learn from the pros working with Non-QM loans every day to understand why non-qualified mortgages are critical to achieving a competitive advantage. UNCASVILLE, CT: JAN 13, 2022 | LAS VEGAS, NV: AUG 19, 2022

SCAN FOR INFO

Acra Lending

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

SPECIAL ADVERTISING SECTION

ACC Mortgage Rockville, MD

Acra Lending Lake Forest, CA

Angel Oak Mortgage Solutions Atlanta, Georgia

Arc Home LLC Mount Laurel, NJ

http://ACCMortgage.com info@accmortgage.com (877) 353-2233

https://acralending.com/ sales@acralending.com (888) 800-7661

www.angeloakms.com info@angeloakms.com (855) 631-9943

https://business.archomellc.com/ sales@archomeloans.com (844) 851-3600

DESCRIPTION OF PRODUCTS OR SERVICES: ACC Mortgage is the oldest Non-QM lender that has never stopped lending in 22 years. We specialize in Bank Statement, ITIN, P&L, Foreign National and DSCR lending. Price, Product and Process are what make for NonQM success. STATES LICENSED: AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, KS, MD, MI, NV, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, WA

Non-QM / Jumbo DESCRIPTION OF PRODUCTS OR SERVICES: Acra Lending is the leader in Non-QM Wholesale and Correspondent lending programs. Offering a range of programs and services geared toward helping mortgage professionals and borrowers achieve their purchase and investment goals. We are committed to providing simplicity, consistency and an optimal customer experience. STATES LICENSED: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MI, MN, MT, NE, NV, NH, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WY

DESCRIPTION OF PRODUCTS OR SERVICES: We offer alternative mortgage solutions for originators throughout the country helping borrowers who don’t fit Agency guidelines. We are pioneering a fresh approach to today’s mortgage lending challenges helping partners to grow their business. STATES LICENSED: AL AZ AR CA CO CT DC DE FL GA IL IN IA KS KY LA ME MD MI MN MS MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VA WA WV WI WY Puerto Rico U.S. Virgin Islands

Multi-channel mortgage leader with exceptional service and comprehensive mortgage solutions. DESCRIPTION OF PRODUCTS OR SERVICES: When it comes to choosing your lending partner, there are many things to consider. Our products set the standard in the industry for innovation. Since that innovation is in our DNA, we will always be on the cutting edge of what matters most to you and your borrowers. At Arc Home, our priority is to provide the best customer experience from registration to closing, and we continue to invest in that philosophy every day. STATES LICENSED: AL AK AZ AR CA CO CT DC DE FL GA ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

Civic Financial Services Redondo Beach, CA

Deephaven Mortgage Charlotte, North Carolina

Finance of America Mortgage Conshohocken, PA

First National Bank of America East Lansing, MI

www.civicfs.com carolyn.pham@civicfs.com (877) 472-4842

deephavenmortgage.com info@deephavenmortgage.com (800)983-0457

www.FOAmortgage.com customerrelations@ financeofamerica.com (800) 355-5626

www.fnba.com/wholesale requests@fnba.com (800) 400-5451

CIVIC delivers fast, honest, simple lending for real estate investors. Description of your products or services. DESCRIPTION OF PRODUCTS OR SERVICES: CIVIC Financial Services is a private money lender, specializing in the financing of non-owner occupied residential investment properties. CIVIC provides Mortgage Brokers and Real Estate Investors with a fast and cost effective funding source for their real estate investment needs. STATES LICENSED: AZ CA CO FL GA HI ID IL IN LA MD MA MI MN NV NJ NC OH OK OR PA SC TN TX UT VA WA WI

Angel Oak Mortgage Solutions is the leader in non-QM.

Founded in 2012, Deephaven is a national, Non-Agency/Non-QM mortgage provider. DESCRIPTION OF PRODUCTS OR SERVICES: A full-service innovator in the Non-Agency/NonQM mortgage space helping millions of Americans unable to qualify for a traditional, government-backed mortgage to achieve their dreams of homeownership. Available through both wholesale and correspondent channels, our differentiator is our borrower-centric culture and service delivery model. Particular strengths include our own in-house underwriting and collaborative teams that directly support our national network of independent mortgage brokers and loan officers. STATES LICENSED: AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WI WY

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Flexible mortgage solutions designed with unconventional borrowers in mind DESCRIPTION OF PRODUCTS OR SERVICES: Are you looking to help a wider range of borrowers? Finance of America Mortgage offers loan options outside of standard conventional guidelines. Our Two-X Flex Suite of mortgage solutions was specifically designed with unconventional borrowers in mind. It redefines qualifying borrowers without the use of tax returns and with as little as 12 months of self-employment. Join the team at Finance of America Mortgage to offer your borrowers more flexibility. Visit joinFAMtoday.com to apply now. STATES LICENSED: Puerto Rico U.S. Virgin Islands All U.S. States

DESCRIPTION OF PRODUCTS OR SERVICES: With over 65 years of lending experience, First National Bank of America specializes in NonQM loans, nationwide. • Alternative Income Documentation Options • 12 months only of income history • Self-Employed/1099 • ITIN or SSN • Recent Credit Events Our alternative mortgage solutions are designed to help people turn homeownership dreams into a reality in the Retail, Wholesale or Correspondent space visit: www.fnba.com/wholesale www.fnba.com/correspondent www.fnba.com/mortgage Equal Housing Lender STATES LICENSED: Continental U.S.

SPECIAL ADVERTISING SECTION: N ON - QM L E N DE R SH OWCAS E

FundLoans Encinitas, CA

Global Integrity Finance LLc McKinney, Texas

Impac Mortgage Corp. Irvine, CA

LoanStream Mortgage Irvine, CA

http://www.fundloans.com info@fundloans.com (760)388588

https://globalintegrityfinance.com toby@globalintegrityfinance.com 2145485190

www.impacwholesale.com wholesale@impacmail.com (949)4756284

https://loanstreamwholesale.com/ (800) 760-1833

DESCRIPTION OF PRODUCTS OR SERVICES: Insignia is our Jumbo Prime program. Apex Prime is meant to meet the needs of your alternative doc borrowers with a focus on self-employed borrowers. Montage Prime is great for your near miss prime borrower. Spectrum Prime is the perfect tool for your seasoned investor borrowers. We focus on jumbo and super jumbo loans. STATES LICENSED: AZ CA CO CT FL GA HI ID IL MD MT NV NC OR SC TN TX UT WA WY

DSCR Rental NO DOC Loans DESCRIPTION OF PRODUCTS OR SERVICES: As a direct, private lender, Global Integrity Finance takes a common-sense approach to underwriting, with all approvals made in-house. We are dedicated to providing quick responses to time-sensitive loans, often times with the ability to close in as few as 3 business days. At Global Integrity Finance, we value referrals and our brokers are protected. We are committed to the highest level of customer service, because our success thrives in building relationships.

DESCRIPTION OF PRODUCTS OR SERVICES: Impac is a national leader in B2B lending with a long heritage of building successful relationships. We’re committed to great pricing, fast decisions, and sensible alternative products, like our comprehensive Non-QM suite. It’s why we opened our doors in 1995 and why they’re still open today.

STATES LICENSED: AZ CA CO CT DE DC FL GA HI IL IN KY LA ME MD MA MI MN MT NV NH NJ NM NC OH OK OR PA RI SC TN TX UT VA WA WI

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

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

Luxury Mortgage Corp. Irvine, CA

Oaktree Funding Corp. Chandler, AZ

Quontic Bank New York, NY

Sprout Mortgage East Meadow, NY

https://luxurymortgagewholesale. com tpomarketing@ luxurymortgage.co (949) 516-9710

https://www.nonqmexpert. com/ contact@oaktreewholesale. com (800) 968-5773

https://quonticwholesale.com/ sschnall@quonticbank.com (888) 738-9016

http://www.sproutwholesale.com sales@sproutmortgage.com (844) 664-6100

Non-QM, Wholesale, Delegated DESCRIPTION OF PRODUCTS Correspondent, Non Delegated OR SERVICES: The Non-QM Correspondent experts Oaktree Funding are proud to offer innovative DESCRIPTION OF PRODUCTS solutions for diverse borrowers. OR SERVICES: The Simple We offer products and services Access® Non-QM suite of through our three channels products was built around of operation: Wholesale, the idea that it doesn’t have Correspondent and Retail to be complicated to finance Lending. Oaktree is not tied to a home. We have created a any one investor securitization, diverse selection of borrower which allows us to consistently friendly programs that are offer flexible and expanding simple, innovative, and guidelines to adapt with flexible. For more information borrower’s needs. on our Correspondent division, visit www. STATES LICENSED: AZ CA CO luxurymortgagecorrespondent. CT DC FL GA ID IL IN MD MA MI com MN MO NJ NM NV NC OH OR PA SC TN TX UT VA WA WI STATES LICENSED: AL AK CA CO CT DC DE FL GA IL LA ME MD MA MI MN NV NH NJ NM NY NC OH OR PA RI SC TN TX UT VA WA WI WY

DESCRIPTION OF PRODUCTS OR SERVICES: We successfully deliver uncommonly good DESCRIPTION OF PRODUCTS solutions to customers whose OR SERVICES: Our unique home financing needs aren’t Community Development commonly met elsewhere. Loan programs help historically iQualifi, our proprietary pricing excluded borrowers look beyond engine, helps mortgage income documentation to help professionals quickly and easily make homeownership dreams a identify Sprout loan products that reality. Quontic is exempt from may work for their customers. Dodd Frank’s ATR requirements. iAnalyze, our proprietary bank This enables us to offer our statement assessment tool, unique Owner Occupied - No efficiently analyzes complex Ratio (no income stated & no bank statements to quantify and DTI calculated) and Lite Doc recognize income from those (borrower prepared P&L) loans who don’t receive W-2s. ACORN, to credit-worthy borrowers. our proprietary automated Quontic also offers a Fast Track underwriting system (AUS), underwriting process. originates Prime Jumbo and Get started growing your Non-QM loans with the ease of business with Quontic DU and LP. Wholesale. STATES LICENSED: AL AK AZ AR No Ratio & Lite Doc - Owner Occupied & Investor

STATES LICENSED: All U.S. States

Verus Mortgage Capital http://www.verusmc.com sales@verusmc.com (833) 862-3863 Full-service correspondent investor offering residential non-QM and investor rental programs DESCRIPTION OF PRODUCTS OR SERVICES: Verus is the nation’s largest issuer of securitizations backed by non-QM loans. We’ve purchased over $15 billion in expanded, non-agency and offer correspondents an array of expanded non-prime solutions for residential and business purposes.

Our flexible lending guidelines, underwriting and pre-purchase diligence tools, and training help correspondents confidently move into non-QM. It’s all we do, and we do it CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MI MN MS extremely well. MO MT NE NV NH NJ NM NC ND STATES LICENSED: OH OK OR PA RI SC SD TN TX UT Continental U.S. VA WA WV WI WY NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

FACEBOOK THOUGHTS

ICK ROBERSON

The Treats Of Air Travel Today

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

t’s not good when co-workers ask if it’s ugly sweater day when you are just wearing a sweater you like.

Savannah and I stopped by ACE Hardware last month to pick up some things to hang our Christmas decorations. As we passed this one tall box sitting near the end of the main aisle Savannah yells to me, “Dad, I can’t believe they are selling these here!” I turned around and replied, “What are they selling?” Savannah said, “They have a whole box of Christmas beer bongs!” I thought I was going to die from laughing. “Um, Savannah, those are funnels to make it easier to water real Christmas trees without having to crawl under them.” Savannah looked at me, then back at them, and then back at me, and replied, “So they’re beer bongs for Christmas trees?” I just shook my head and said, “Yes, I guess they are Christmas beer bongs.” And this girl is headed off to college next year. Lord help me. I love how when I open Facebook, it asks, “What’s on your mind?” Then the voices in my head and I just laugh and laugh ... good times ... good times.

PLANE THINKING My recent post-Covid(ish) air travel has given me some perspective on what it means to be a good traveler and the importance of being courteous to those around you who are also being

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held hostage in a 90,000lb plastic and aluminum tube with wings hurtling through the air at 500 mph 30,000 feet above the planet, with doors they won’t allow you to open to throw someone out. 1. Do remember that humans tend to smell like a dog’s butt after not showering for several days. So, be considerate and take a freaking shower. Yes, with soap this time.

as you walk through the airport and make it look like an accident.

2. While I am sure you are having fun with the video game on your phone, not everyone wants to listen to you reach the super-duper gold cookie award level. Use your headphones.

8. If your voice travels like Fran Drescher from The Nanny, then please realize people are not interested in hearing about the raging yeast infection you have had for the last month that just won’t go away. Yes, the entire plane heard every word.

3. If you are going to bring a Philly Cheese Steak sandwich with you, which is going to smell up the entire plane, then bring enough sandwiches for everyone.

9. Please know that if you throw a tantrum on the plane, I am going to video and photograph your ridiculous behavior and turn you into a meme later.

4. If you see your reflection in a mirror or window as you are walking into the airport, and you mistake yourself for a homeless person carrying all your damn belongings, then you should probably check your bags so that we all don’t have to sit there and wait while you figure out how to fit all of your worldly assets into the overhead compartment.

10. If you are wearing a skirt, and use the bathroom on the plane, you should probably make sure the skirt isn’t tucked into the back of your thong before you walk past 25 rows of people to get back to your seat. Also, if you are 70 years old, you probably shouldn’t be wearing a thong. Just saying.

5. If you fall asleep on my shoulder, don’t be mad when I draw Charlie Brown’s face on your bald head with a Sharpie. 6. On that note, if you fall asleep with your mouth open, I am going to start a game to see how many M&Ms I can toss into your mouth before you wake up. 7. If you are under 5’5” tall, and I see you sitting in one of the rows with extra leg room, I am going to trip you

Nick Roberson

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

HONORING OUR LEGACY PIVOTING TO THE FUTURE For 20 years strong, PRMG has been serving our wholesale brokers and correspondent partners. Built by Originators for OriginatorsTM ,

we believe it is our duty to educate, train and support our Third-Party Originators and those that they serve, especially in a time of uncertainty and an ever-changing marketplace. While honoring our legacy, we also embrace the idea that ʻprogress is not possible without changeʼ and in the spirit of adapting to change, PRMG has created a ʻPath to Pivotʼ to more consumer-facing activities and modern-lending technology. Our future commitment is to explore new frontiers of MarTech in order to provide an ever-improving path for Originators to evolve with the market and continue to deliver best in class service!

866.PRMG.YES! www.PRMG.net

RETAIL │ WHOLESALE │ CORRESPONDENT

©2022 Paramount Residential Mortgage Group, Inc. (“PRMG”) NMLS ID #75243; 1265 Corona Pointe Court, Corona, CA 92879; All Rights Reserved. Licensed by The Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, License #4131268; Finance Lenders Law License #603D903; AZ Mortgage Banker License #910387; Georgia Residential Mortgage Licensee #32087; IL Residential Mortgage License # MB.6760962; KS-Licensed Mortgage Company, #MC.0025196; Massachusetts Mortgage Lender and Broker License, #MC75243; MS Department of Bank and Consumer Finance; NV Mortgage Broker License #3693; NH Banking Department 17393-MB; Dept. of Banking in the Common Wealth of PA, #37894; RI Licensed Lender, #20112799LL; and is also approved to lend in the following states: AL, AK, AR, CO, CT, DE, DC, FL, HI, ID, IA, KY, LA, ME, MD, MI, MN, MO, MT, NJ, NM, NC, ND, OH, OK, OR, SC, SD, TN, TX, UT, VT, WA, WV, WI. For licensing and other disclosures please visit: https://www.prmg.net/licenses/. For NMLS information: https://www.nmlsconsumeraccess.org/. PRMG is an Equal Housing Lender. Questions? Comments? Email: Feedback@PRMG.net

PARTNER WITH THE LEADER IN NON-QM MORTGAGE LENDING MORE EXPERTISE | MORE SERVICE | MORE TECHNOLOGY

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