National Mortgage Professional Magazine July 2018 by ambizmedia

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table of

N A T I O N A L

The Mortgage Godfather: Sales … You Want to be in Sales? By Ralph LoVuolo Sr.

J U L Y

40 NMP Mortgage Professional of the Month: Milton Karavites, Senior Regional Vice President, New American Funding By Phil Hall

42 Five Ways Mortgage Brokers and Lenders Can Get Ahead of the Digital Marketing Curve By Bud Torcom

2 0 1 8

M O R T G

V O L U M

A SPECIAL FOCUS ON “SOCIAL MEDIA”

R S

S B

For Proof of Performance, Read the Reviews By Rick Arvielo........52 Social Media: The Cornerstone to Your Marketing Foundation By John Bentley ................................................................................56

A W

Social Media Strategies for the Mortgage Industry By Frank St. John ..............................................................................60

Getting Started With Social Media in the Mortgage Industry By Ben Smidt......................................................................................62

B E

Building a Solid Social Media Presence By Adam P. Smith ............66 Twelve Common Ways You Are Using LinkedIn Incorrectly By Theresa Santoro & Madeline Yaskowski ........................................68

Six Simple Steps to Launching Your Social Media Presence By Marina Kowaleski ..........................................................................70

A H

Can Compliance and Social Media Co-Exist? By Brandon Simmons ........................................................................72

C C

Can Video be Your Magic Weapon? By Shirleen Von Hoffmann ......74 Navigating the Expansive Waters of Social Media Marketing and Compliance in the Mortgage Industry By Mary Kamelle ..........76

Social Medium By Eric Weinstein ......................................................78

FEATURES

ARMCP Membership Hits the 1,600 Mark ........................................6

Cementing Realtor Relationships in Today’s Purchase-Driven Market By Tom Hutchens ....................................................................8

The Elite Performer: Perception Is Reality By Andy W. Harris, CRMS ....................................................................8

46 The Most Connected Mortgage Professionals of 2018

V I S I T Company

Web Site

O U R

A D Page

Angel Oak Mortgage Solutions ............................ www.angeloakms.com ......................................Back Cover Brokers Compliance Group.................................. www.brokerscompliancegroup.com ..................................17 Caliber Home Loans.............................................. www.caliberwholesale.com ..............................................55 Carrington Mortgage Services, LLC ...................... www.carringtonwholesale.com ................................9 & 54 Citadel Servicing Corporation .............................. www.citadelservicing.com ................................................5 Class Appraisal .................................................. www.classappraisal.com ................................................15 DocMagic .......................................................... www.docmagic.com ..............................................44 & 45

50 How to Recommend Your Competition and Still Close More Loans By Brian Sacks

FAMP ................................................................ www.ourfamp.org/convention.php ..................................64 Fund Loans........................................................ www.fundloans.com ........................................................7 Greenbox Loans, Inc........................................... www.greenboxloans.com ..............................................IFC Lykken On Lending ............................................ www.lykkenonlending.com ............................................66 MBANJ .............................................................. www.mbanj.com ..........................................................59

MBS Highway .................................................... www.mbshighway.com/MNN ..........................................63

of contents

R T G A G E

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

N U M B E R

Recruiting, Training and Mentoring Corner: Donâ&#x20AC;&#x2122;t Get Lost in Social Media By Dave Hershman ......................................................10 States Adopting Electronic Notarizations By Gavin T. Ales ............16 Be a Trend Setter..............................................................................18 A Message from FAMP 2018-2019 President Kimber White, CRMS ....................................................................................20 NAMB Perspective ............................................................................22 Scenes From NAMMBA CONNECT 2018 ........................................26 BrokerNATION: Independent Mortgage Originators: Evan Einhorn, Modern Home Lending By Andy W. Harris, CRMS ..34 NAPMW in the News ........................................................................35 Save the Date: NCRA 26th Annual Conference 2018 ......................36 Addressing Post-Housing Crisis Issues: How Sen. Nelson Helped Fix the Housing Market By Pam Marron ..............................38 Compliance Matters: Steps for Responding to Consumer Complaints By Jonathan Foxx ..........................................................39

COLUMNS New to Market...................................................................................12 News Flash: July 2018.......................................................................14 Heard on the Street...........................................................................32 Outstanding Places to Work.............................................................84 NMP Calendar of Events...................................................................85 NMP Resource Registry....................................................................86

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

Web Site

Page

Mortgage Assurance, Inc. .................................. www.maibroker.com ......................................................25 Mortgage News Network (MNN) .......................... www.mortgagenewsnetwork.com ............................30 & 31 NAMB+ ............................................................ www.nambplus.com ......................................................19 NAPMW ............................................................ www.napmw.org ....................................................60 & 69 NAWRB ............................................................ www.nawrb.com ............................................................73 New American Funding ...................................... www.newamericanfunding.com ......................................88 NMP U .............................................................. www.nmpucoaching.com ..................................11, 61 & 79 NRMLA.............................................................. www.nrmlaonline.org ....................................................71 OSI Express........................................................ www.osiexpress.com/mlslink ............................................1 Paramount Residential Mortgage Group, Inc. ...... www.prmg.net ..........................13, 57 & Inside Back Cover REMN................................................................ www.remnwholesale.com ..............................................33 TagQuest .......................................................... www.tagquest.com ........................................................65 The Bond Exchange............................................ www.thebondexchange.com ..........................................58

JULY 2018 Volume 10 • Number 7

FROM THE

publisher’s desk

Building your business with social media For the past few years, we’ve been highlighting the “Most Connected Mortgage Professionals” in 1220 Wantagh Avenue • Wantagh, NY 11793-2202 our July issue. When we started, using social media was still fairly new in our industry, even Phone: (516) 409-5555 • Fax: (516) 409-4600 though others had been using it for some time. It took a while for our compliance professionals Web site: NationalMortgageProfessional.com to vet social media so that Loan Originators could begin using it to drive more business. Today, STAFF Eric C. Peck Joel M. Berman social media is used throughout our business by some of the most successful Loan Officers and Editor-in-Chief Publisher - CEO (516) 409-5555, ext. 312 (516) 409-5555, ext. 310 Mortgage Brokers in the country. ericp@mortgagenewsnetwork.com joel@mortgagenewsnetwork.com I’m proud to share with you the “Most Connected Mortgage Professionals of 2018” in this Joey Arendt Beverly Bolnick issue. You’ll find many of these professionals on our sister medium, Mortgage News Network. Art Director VP-Sales & Marketing (516) 409-5555, ext. 323 (516) 409-5555, ext. 316 Contributing Editor and MNN Producer Rick Grant visits with these social-media-minded pros joeya@mortgagenewsnetwork.com beverlyb@mortgagenewsnetwork.com each week as part of the Most Connected video series. Check it out! Scott Koondel Phil Hall VP of Operations Managing Editor To go deeper into what it takes to really master social media and to use it to build your (516) 409-5555, ext. 324 (516) 409-5555, ext. 312 business, we solicited feature articles from some of the most successful online pros and offer scottk@mortgagenewsnetwork.com philh@mortgagenewsnetwork.com them to you in this issue. In all, we have 11 features in our “Special Focus on Social Media” this Richard Zyta Francine Miller Social Media Ambassador Advertising Coordinator month. (516) 409-5555 (516) 409-5555, ext. 301 richardz@mortgagenewsnetwork.com francinem@mortgagenewsnetwork.com The first step to launching yourself into social media and reaping the benefits of increased Rick Grant Dylan Pollock brand exposure is to get your compliance department on board. To that end, we offer you two Special Reports Editor Administrative Assistant excellent articles. The first, from Brandon Simmons, Digital Manager for Open Mortgage LLC, (570) 497-1026 (direct) (516) 409-5555, ext. 314 (516) 409-555, ext. 311 dylanp@mortgagenewsnetwork.com answers the question, “Can Compliance and Social Media Co-Exist?” Then, see “Navigating the rickg@mortgagenewsnetwork.com Expansive Waters of Social Media Marketing and Compliance in the Mortgage Industry” by Mary ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact Kamelle, Marketing Manager at Mortgage Equity Partners. VP-Sales & Marketing Beverly Bolnick at (516) 409-5555, ext. 316 or e-mail beverlyb@mortgageOnce you have to green light from legal, dig into the specifics of getting your social media newsnetwork.com. marketing campaign launched with a trio of excellent pieces in this special section. ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck The first, entitled “Six Simple Steps to Launching Your Social Media Presence” is a quick-start at (516) 409-5555, ext. 312 or e-mail ericp@mortgagenewsnetwork.com. The deadline for submissions guide offered by Marina Kowaleski, Digital Marketing Specialist for Fairway Independent is the first of the month prior to the target issue. Mortgage’s New England Region. SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgageWe follow that up with “Getting Started With Social Media in the Mortgage Industry,” by Ben newsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. Smidt, Digital Marketing Program Manager for Mortgage Guaranty Insurance Corporation Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the (MGIC), and “Building a Solid Social Media Presence,” by Adam P. Smith, President of The authors alone and do not imply the opinion or endorsement of Mortgage News Network Inc., or the offiColorado Real Estate Finance Group Inc., a commercial and residential real estate finance firm. 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) Leaders don’t just wade out into the pond without a plan. Once you’ve committed to making and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, and/or other state mortgage trade associations events, activthe move to social media, learn how to set a great strategy by reading, “Social Media: The ities and/or publications is available on a non-discriminatory basis and does not reflect the endorsement Cornerstone to Your Marketing Foundation,” by John Bentley, Digital Marketing Manager for of the product and/or services by Mortgage News Network Inc., NAMB, NAPMW, NCRA, and other state mortgage trade associations. Angel Oak Companies, and “Social Media Strategies for the Mortgage Industry,” by Frank St. National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, and/or other state mortgage John, Director of Marketing for Bay Shore, N.Y.-based Jet Direct 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 contained in Mortgage After that, it’s just about mastering the individual tools that will connect you with more 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 articles, information or data. prospective borrowers than ever before. Start with “Twelve Common Ways You Are Using LinkedIn Incorrectly,” by Theresa Santoro, Senior Manager of Human Resources & Operations at Actualize Consulting & Madeline Yaskowski, senior at Virginia Tech, to make sure you’re using one of the most powerful tools to its maximum. Then, learn about social feedback by reading, “For Proof of Performance, Read the Reviews” by Rick Arvielo, Chief Executive Officer at New American Funding. Finally, don’t miss “Can Video be Your Magic Weapon?” by Shirleen Von Hoffmann, President and Sales Coach of Home Builders Edge. If the success of Mortgage News Network is any barometer to gauge the success of video, I would say there is plenty of magic in the medium and you owe it to yourself to learn more. I’m very proud of our special section, but we also bring you two additional features in this issue that I highly recommend. The first shines a bright light on this month’s Mortgage Professional of the Month, Milton Karavites, Senior Regional Vice President of New American Funding. And we also offer “Five Ways Mortgage Brokers and Lenders Can Get Ahead of the Digital Marketing Curve,” by Bud Torcom, Chief Executive Officer and Co-Founder of Mazama Media, a digital marketing agency that offers social media solutions. With the success of the nation’s largest digital lenders, no one can afford to ignore this trend. All of this would make for a great issue, but we’re not done. You’ll find all of our regular columnists in this issue, including: l Andy W. Harris, CRMS, with his “BrokerNATION” column. This time he profiles Evan Einhorn, an Arizona native and W.P. Carey School of Business (ASU) graduate who serves the entire State of Arizona. l Jonathan Foxx, in his “Compliance Matters” column, provides insight into the “Steps for Responding to Consumer Complaints.” l Dave Hershman brings us his “Recruiting, Training and Mentoring Corner: Don’t Get Lost in Social Media.” l Ralph LoVuolo Sr., The Mortgage Godfather, presents the question “Sales … You Want to be in Sales?” in his monthly submission. l Brian Sacks eases you through the process of going toe-to-toe with the “enemy” in his column, “How to Recommend Your Competition and Still Close More Loans.” l And finally, Pam Marron, Senior Loan Originator with Innovative Mortgage Services Inc., brings us “How Sen. Nelson Helped Fix the Housing Market,” detailing how Sen. Bill Nelson helped assist struggling homeowners. It’s going to take you some time to get through this issue, but it will be time well spent. And speaking of time, here’s hoping that we see you at a conference soon. We would love to spend some time with you to find out what you want to see in future issues of National Mortgage Professional Magazine. Everything we do is about helping you be more successful. Best wishes and enjoy what’s left of the summer. Sincerely, Joel M. Berman, Publisher-CEO Mortgage News Network Joel@MortgageNewsNetwork.com

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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 2017-2018 BOARD OF DIRECTORS E X E C U T I V E

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

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

Nathan S. Pierce, CRMS Vice President Nathan.Pierce@NAMB.org

B O A R D

Michelle Velez, CMC Secretary Michelle.Velez@NAMB.org

Rocke Andrews, CMC, CRMS Treasurer Rocke.Andrews@NAMB.org

Fred Kreger, CMC Immediate Past President Fred.Kreger@NAMB.org

D I R E C T O R S

Linda McCoy, CRMS Linda.McCoy@NAMB.org

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

Wayne King, CMC, CRMS Wayne.King@NAMB.org

Michael DeSantis Mike.DeSantis@NAMB.org

Olga Kucerak, CRMS Olga.Kucerak@NAMB.org

George Burkley, CRMS George.Burkley@NAMB.org

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

Harry H. Dinham, CMC 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 6

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

JULY 2018 n National Mortgage Professional Magazine n

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2017-2018 BOARD OF DIRECTORS

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

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

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

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

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

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

Brian McKinney Director (706) 373-2200 McKinney@MCBUSA.com

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

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

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

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

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

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

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

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

ARMCP Membership Hits the 1,600 Mark The Association of Residential Mortgage Compliance Professionals (ARMCP) has reported that its membership is now at approximately 1,600 members. ARMCP is the first and only independent, national organization in the United States devoted exclusively to residential mortgage compliance professionals. “This year will be special for us, because we will be launching our very own Web site, a state-of-the-art site designed specifically to fulfill the needs of residential mortgage compliance professionals,” said Jonathan Foxx, Ph.D., MBA, Founder and President of ARMCP. “Our independence means we are not affiliated with any profit-oriented corporation or enterprise. Our membership consists solely of those members who have joined it on their own and were not solicited to join it via solicitations from third-party lists or subscriptions. Our independence is the key to the value of our advocacy!” If you would like to refer an individual for membership in ARMCP, please use the ARMCP LinkedIn Group to invite them to join. There is no cost for membership and all new members are welcomed. If you want to join directly, send an e-mail to Info@ARMCP.org.

NationalMortgageProfessional.com

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Cementing Realtor Relationships in Today’s Purchase-Driven Market By Tom Hutchens

he prevalence of home purchase mortgages, as opposed to refis, will continue to increase. For Loan Officers, that means relationships with Real Estate Agents are more important than ever. However, there are many barriers to engaging real estate professionals. Here are some ideas on how Originators can offer unique value. Surveys regularly affirm that around 50 percent of buyer decisions on choosing a lender are controlled or influenced by Real Estate Agents. That means most established agents already have go-to Mortgage Bankers and Mortgage Brokers. If you have cold-called Realtors, you know that the conversation does not last long unless you can offer something different. The good news is that, according to management consultants Oliver Wyman, more than 50 percent of agents refer their clients to more than one lender. Even though major real estate brokerages endorse a preferred lender, only eight percent of Realtors refer to only one lender. Keys to getting on the short list are:

JULY 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

l What can you do for me? Realtors commonly ask, “If I give you leads, do you have leads for me?” It is unlikely you will have more leads than the agent. Jason Frazier suggests a great answer in a HousingWire.com article titled “Teach Your Realtor Partners How to Fish.” He suggests that by taking a short online course on Facebook advertising, you can present yourself as an expert advisor to the agent on online lead development. l Inspire confidence! Agents say they must know that the LOs they refer will offer great service. Treat your first referral customer, and every subsequent one, as critical to your career. It may be. Get bad reviews from one referral client and you may never receive another. l Offer what the others don’t. Realtors may be missing opportunities if they only work with buyers who prequalify for agency loans. Non-QM loans represent the fastest growing segment of mortgage finance. By specializing in and teaching agents about these newer loan products, you will help them increase the number of homebuyers they can serve. Explain that these loans have fair rates, can close as quickly as other loans and rarely default. You will stand apart from most other mortgage professionals. At Angel Oak Mortgage Solutions, our Account Executives, Marketing Department and service team focus on giving Independent Loan Officers the resources needed to prosper in this purchase-driven market. To learn more on offering unique value to Real Estate Agents, contact your Account Executive by calling (866) 837-6312 or by visiting at http://AngelOakMS.com/map.

Tom Hutchens is Senior Vice President of Sales and Marketing 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 16

to mortgage credit in the mortgage market, while 14 percent of respondents advocated the adoption of alternative credit scores and 12 percent applauded the efforts of the governmentsponsored enterprises to pursue more ambitious affordable housing goals. "Rising interest rates and inflation, when combined with today's inventory shortage, are accelerating home price appreciation, causing some lenders and consumers to explore less-tested methods for financing home purchases," said Rohit Gupta, President and Chief Executive Officer at Genworth Mortgage Insurance. "Despite this, private mortgage insurance is experiencing another strong year, particularly among first-time homebuyers, as the majority of consumers and lenders still prioritize financing solutions backed by tested, well-capitalized businesses. We encourage prospective homebuyers to continue educating themselves on all available options prior to pursuing homeownership, and to ensure that their financing method is as sustainable as it is affordable." Tappable Equity Level Hits Record High

Tappable equity ballooned by more than $380 billion in the first quarter, according to new data from Black Knight Inc. The first quarter data represents the largest single-quarter growth since Black Knight began tracking the metric in 2005, while the $5.8 trillion in total tappable equity held by homeowners with mortgages is 16 percent above the mid-2006 peak, setting a new record. Tappable equity is defined as the share of equity available for homeowners with mortgages to borrow against before reaching a maximum total combined loan-tovalue ratio of 80 percent. Black Knight noted that the average mortgage holder gained $14,700 in tappable equity over the past year and has $113,900 in total. However, the quantity of available equity did not automatically spur new usage. Black Knight also noted that the

amount withdrawn in the first quarter fell nearly 7 percent from the fourth quarter of 2017, with only 1.17 percent of available equity being tapped—the lowest share since the first quarter of 2014 and the second lowest quarterly share since the beginning of the housing recovery. And the $35 billion withdrawn via home equity lines of credit (HELOCs) in the first quarter marked a two-year low. “In the first quarter of 2018, homeowners with mortgages withdrew $63 billion in equity via cash-out refinances or HELOCs,” said Ben Graboske, Executive Vice President of Black Knight’s Data & Analytics Division. “That represents a slight one percent increase from the same time last year, despite the fact that the amount of equity available for homeowners to borrow against increased by 16 percent over the same time period. Collectively, American homeowners now have $5.8 trillion in tappable equity available.” Graboske added that one key reason behind the drop in HELOC equity utilization was “increasing spread between first-lien mortgage interest rates, which are tied most closely to 10-year Treasury yields, and those of HELOCs which are more closely tied to the federal funds rate. As of late last year, the difference between a HELOC rate and a first-lien rate had widened to 1.5 percent, the widest spread we’ve seen since we began comparing the two rates 10 years ago. The distance between the two has closed somewhat in the second quarter as 30-year mortgage rates have been on the rise, which does suggest the market remains ripe for relatively low-risk HELOC lending expansion.” Zillow: Air Conditioning Helps Raise Home Sale Prices

A note to home sellers: You will score more profits if your residence has central air conditioning versus having an old-fashioned air conditioner hanging out the window. continued on page 37

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Message From NAMB 2017-2018 President John G. Stevens, CRMS

JULY 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Why be a member of the NAMB? Throughout my year as President of NAMB, I have had the opportunity to meet with and have many conversations with mortgage professionals nationwide. One question I have asked repeatedly during those conversations is: “Why are you a member of the NAMB?” The responses come from a multitude of people with varying backgrounds, but the one thing that they all stated is that they joined because they felt very strong about the fact that they need to be represented in Washington, D.C. The meetings, conferences, member benefits, etc. all offered by NAMB were all nice, but time and time again, those I have spoken to always mention the representation NAMB gives to its members in D.C. They collectively feel that having a voice in Washington, D.C. is crucial for their success in the industry. They all feel that by be being involved with NAMB, they are able to make sure that not only their voices are heard, but they are listened to and known throughout the hallowed halls of Congress. It reminds me of what Ramandeep Singh spoke of when he said: “Everyone hears, but not everyone listens.” Here at the NAMB, we work diligently to listen to the issues you are facing in your own cities, states and nationally. We work and are engaged daily on the issues that you are facing. That is the difference when you are a part of NAMB. The volunteers who give tirelessly of their time and effort are here to make the entire industry better … better for you and better for the consumer. This is why mortgage professionals who are members of NAMB stay members of NAMB. Year over year, we are here for you. We have, and will continue, to walk the streets of Washington, D.C., meeting with legislators, and working with leadership from the Consumer Financial Protection Bureau (CFPB) and other governing agencies. We represent the mortgage professional: Mortgage Brokers, Mortgage Bankers, Mortgage businesses, and fight for the mortgage consumer. We know WHO we are. We know WHO we represent. Are you ready to join an association who has represented YOU for 45 years, and will continue to be here representing your best interests for the next 45 years? If so, then NAMB is for YOU! Sincerely,

John G. Stevens, CRMS President of NAMB

“Everyone hears, but not everyone listens.”

John G. Stevens, CRMS is President of NAMB and Vice President of Cornerstone Mortgage Group. John has been actively involved in NAMB and mortgage industry thought leadership since 2010. Feel free to reach John by phone at (801) 427-7111 or e-mail JohnGStevens@gmail.com.

N A M B

P E R S P E C T I V E

NAMB’s Membership Minute: July 2018 By George W. Burkley III, CRMS

Join NAMB today and be our guest at NAMB National in Las Vegas, Dec. 8-10, 2018. Join NAMB today for a $120 annual membership and discover that membership has its privileges. You will be joining a 45-year-old premier national mortgage trade association that is working for you and your future as a mortgage professional. We have an extensive list of great benefits for the mortgage professional and we even make it better with a fantastic opportunity for new members. New members who join NAMB from July 1, 2018 through Nov. 31, 2018 will receive: l Free admission to NAMB National at Caesar’s Palace from Dec. 810, 2018 l Free eight-hour Continuing Education Class at NAMB National on Monday, Dec. 10. l Free Strategic Planning Session to plan out your 2019 upcoming year with some of the today’s best and brightest minds in the mortgage business. l Attend the premier mortgage industry trade show and visit with the best national lenders and vendors for all aspects of your mortgage practice. l The opportunity to network and mingle with the best of the best in the mortgage industry and take your mortgage practice to the next level.

NAMB Education Foundation Update: July 2018 By Rocke Andrews, CMC, CRMS As we approach CE and license renewal season, keep NAMB in mind as an option. Many state associations have live class options available. If you are unable to attend a live class due to scheduling or geographical concerns, online continuing education is available through NAMB’s Web site at NAMB.org. Click on the “Committees” tab on the Home Page and select “Education,” then choose an online provider. NAMB offers a discount to the price if you enter through the

NAMB: The Voice of a Unified Industry By Michelle Velez, CMC

It is absolutely incredible that half the year has already passed us by. We in the mortgage industry are getting used to change. Whether it is with regulations, guidelines or legislation, each day that passes bring something new. The one thing that has always been consistent is what the NAMB stands for. If you look at our history, you will see that NAMB has consistently stood for Mortgage Brokers, Mortgage Bankers or Correspondent Lenders and small businesses. A very close friend of mine recently asked, why did NAMB go back to being called the “National Association of Mortgage Brokers?” The answer is easy … we have always been the “National Association of Mortgage Brokers.” But, there is a change that many people are noticing. NAMB removed the tagline “Association of Mortgage Professionals” from our name. There is not one origination channel that is better than another channel. There is a better channel that works for you, the Originator in your marketplace. So whether you are a Mortgage Broker, Mortgage Banker–who most likely also brokers loans or you are a small business, NAMB is working hard for you. I have served on the NAMB Board now for three years. This year also marks 10 years that I have served as a volunteer for my state’s association. I remember when I first joined the Board, I was asked why. Why would I serve on the Board for the Mortgage Brokers association? My response then and continues to be “Why not?” NAMB continues to provide everything I need as a Mortgage Loan Originator … everything from continuing education classes to certifications that will set me apart from the average Loan Officer to benefits such as health insurance. Most importantly, NAMB is the voice of our industry in Washington, D.C. With so many changes in our industry, many states no longer have state associations to help guide new Originators. NAMB has worked hard over the years to assist Originators with questions they may have regarding regulation, assisting states when there is legislation that may harm the consumer or even offering guidance and mentorship for those who want to open their own broker shop. Being around for a long time gives you an edge. The fact that legislators know who you are and what you advocate for is important. It gives you the ability to enact change. Earlier this year, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (CFPB) reached out to NAMB for input and guidance. I’m not

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George W. Burkley III, CRMS is Owner and Founder of Goshen, Ind.-based American Mortgage & Financial Services, and NAMB Director, as well as Chairman of the Membership Committee. He may be reached by e-mail at George.Burkley@NAMB.org.

Rocke Andrews, CMC, CRMS is Treasurer of NAMB. He may be reached by e-mail at Rocke.Andrews@NAMB.org.

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This is a $585 value … all free to new NAMB members. You have worked all year. Early December is a great time to take a few days off from your mortgage practice for a little rest, relaxation and some professional development. Come to Las Vegas. Airfare, gas and hotel rooms are very affordable this time of year. Celebrate the end of a good year and get a game plan to get 2019 moving forward with a fast start. Knock out your required CE. It’s time to put that investment into yourself and partner with NAMB to move your mortgage practice to the next level. Go to NAMB.org to see all the great features and benefits of membership and hit the “JOIN NOW” link to join NAMB today!

NAMB Portal. There are different offerings available through each vendor, so if you do not find what you need at first, keep checking. If you are licensed in a state that requires some state-specific hours, you can take the entire course for that state. If you have already taken the required eight hours national requirement, you need only take the additional hours required for each additional state. Online classes typically require you to pass an exam upon completion, while live classes utilize group activities to illustrate the concepts presented. Either mode requires identification to prove you are the person registered, as well as participation and engagement during the lesson. Yearly education is how NMLS makes sure we are aware of changes and refreshes items we may not have used for a while. So select the delivery method you prefer, live or online, and get your license renewal requirements completed so you are not in jeopardy of a temporary suspension (not good). If all of a sudden it is December and you do not have your education completed, a live eight-hour CE is being offered at NAMB National at Caesar’s Palace, Dec. 8-10. NAMB has your education requirements available when you need them at a discounted price.

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P E R S P E C T I V E

sure everyone realized what a big deal this was. Can you imagine the possibilities? There are many things that are unfair to the consumer. NAMB was able to respond with many changes that we would like to see. Chris Bettis, NAMB’s Government Affairs Committee Chair worked hard with the GA Committee to give our responses. Chris would welcome new people to his committee. It seems like no matter where I turn, we are being forced to choose sides. In politics, Republican or Democrat, Trump or anti-Trump, liberal or conservative, this is even tearing up families. There is not one choice that is better than the other. The only choice that is the right choice is the one that is best for you and your family. One of my favorite quotes is, “We are stronger together than we are alone” by Walter Payton. Whether you are a Mortgage Broker or Mortgage Banker, let’s stand together and become a stronger association. Michelle Velez, CMC of Supreme Lending is Secretary of NAMB. She may be reached by e-mail at Michelle.Velez@NAMB.org.

NAMB Certification Committee Update By Linda McCoy, CRMS

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Half of 2018 is over, and there is so much more to do. I have not accomplished all of my 2018 goals yet, but I still have six months to go. I am a very competitive person, and I wanted to see a lot more certified mortgage professionals by the end of the year. I visited the Web site to view a list of NAMB-certified mortgage professionals, and Illinois has the most certified mortgage professionals with 24, California is second with 23, Arizona is third with 16, Texas is fourth with 15, and Florida is fifth with 11. Illinois is in the lead for now, but start studying because one person can make a difference since the race is close. Let’s see who is first by the time we get to Vegas for NAMB National in December. I want to hold a special event in Las Vegas at NAMB National for those who have their certifications to socialize and network. It does matter how you participate in your association. You could give it your all or just be along for the ride. I choose to get involved because I feel like we are stronger together. The people who have their certifications should be role models for new members and encourage them to get involved. The more you give, the more you will receive, and if you want to rise up in this organization, the time is now. We need more members who are passionate about the industry. Below are a few of questions that you might have about NAMB’s certification programs … l l l l l l l l l

Do I have to be a NAMB member to be certified? Why should I get certified? How can I prepare for the examination(s)? When should I start thinking about certification(s)? Why should consumers look for certified brokers? Do certified brokers earn more? What are the eligibility requirements to take the exam? How do I apply for the exam? How much do the exams cost?

If you want the answers to these questions, you need to go to NAMB.org, scroll down to “Certifications,” click and look up “Q& A” to read the answers. Will you help me accomplish my goals for the remainder of 2018? Linda McCoy, CRMS of Mobile, Ala.-based Mortgage Team 1 Inc. is a member of the NAMB Board of Directors, as well as NAMB Certification Committee Chair. She may be reached by e-mail at Linda.McCoy@NAMB.org.

NAMB National 2018 Saturday-Monday, December 8-10 Caesar’s Palace 3570 South Las Vegas Boulevard • Las Vegas NAMB is excited to announce that NAMB National 2018 will be held at the Caesar’s Palace in Las Vegas, from Saturday-Monday, Dec. 8-10. As famous as Las Vegas itself, Caesar’s Palace is the best-known casino resort in the world—and with good reason. What began as a grand casino honoring the indulgent luxuries of ancient Rome has somehow evolved into something even more spectacular. Caesar’s Palace is renowned for impeccable service and attention to detail, and conference exhibitors and attendees can rightly expect the same. In fact, the only thing that can ever surpass their commitment to provide an extraordinary experience for their guests is their commitment to make planning it simple and effortless for you. Limited space is available ... sign up today! For more information, visit NAMB.org.

NAMB Swarms Coming Soon … Join NAMB, the Young Mortgage Professionals Association (YMPA) and National Association of Professional Mortgage Women (NAPMW) for the upcoming “NAMB On the Road” events now titled “NAMB Swarm,” sponsored by United Wholesale Mortgage. This day-long event is filled with a variety of speakers that will provide those in attendance with great information and useful tools that can be used to help grow and improve your business! The cost for this session is only $40 per person and includes breakfast and lunch! Upcoming NAMB Swarms: l Thursday, Sept. 13 at the Boston Marriott Burlington in Burlington, Mass. l Thursday, Oct. 18 at the West Des Moines Marriott in West Des Moines, Iowa For more information on upcoming NAMB Swarm events, visit NAMB.org.

Save the Date … NAMB 2019 Legislative & Conference Thank you to all who attended the 2018 NAMB Legislative & Regulatory Conference in Washington, D.C. Be sure to mark your calendar for Saturday-Tuesday, May 4-7, 2019 at the Liaison Capitol Hill Hotel, 415 New Jersey Avenue NW in Washington, D.C. for the NAMB 2019 Legislative & Regulatory Conference! Details will be made available in the coming months on NAMB.org.

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quality option with low downpayment and a lower interest rate.” David Battany, Executive Vice President of Capital Markets, said Guild adopted MH Advantage because it supports the company’s mission of helping more people achieve the dream of homeownership, but also gives would-be buyers an efficient option they may not have considered. “These manufactured homes use materials similar to those of site-built homes, but are manufactured in the builder’s warehouse,” Battany said. “Because they are constructed in a controlled environment, these homes can be made much more efficiently, which lowers the cost of construction and helps improve affordability for new homebuyers. Aesthetically, the homes can be built in a variety of floor plans, including open concepts, with the same square footage as traditional homes. We believe a number of customers will find this flexibility in both the design of the home and the financing quite attractive.”

with better results. BlazingSocial has curated a library of content, including real estate, mortgage, insurance and title insurance videos, weekly economic and industry news, money saving articles, lifestyle tips, holiday greetings and inspirational quotes. Since most people don’t like to read long articles on the Internet, BlazingSocial also condenses content to visually appealing infographics that are three times

more likely to be liked and shared than other types of posts. All of these unique posts are a great alternative to posting other users’ content. One innovative feature designed to get great results is the customizable call to action. “A call to action drives traffic and improves sales conversion, which is one of the main goals of posting on social media,” said Carter. “Our industry-specific posts have codes that are replaced with specific calls to action, such as ‘Download My Mobile App,’ ‘Visit My Web site,’ ‘Apply Now,’ or ‘View My

Listings,’ to encourage Web site traffic and ultimately increase conversions.” New Freddie Mac Initiative Helps Homeowners Find Jobs

Freddie Mac is teaming up with the re-employment solutions company NextJob to provide job continued on page 36

25 Market Focus Releases New Social Media Posting Tool

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Call today: 770-238-1565 Visit Us: MAIBroker.com Email: aes@maibroker.com

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24 Month Personal Or Business Bank Statements

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Market Focus has announced the release of BlazingSocial, a new automated social media posting system for the real estate, mortgage, insurance and title insurance industries. Market Focus has specialized in providing innovative marketing strategies and content for these industries for more than 25 years. “Social media is timeconsuming and takes skill that most sales professionals don’t have,” said Market Focus President Chris Carter. “As a solution, we leveraged our relationships with our content providers and experience with marketing automation. The results is a state-of-the-art, turnkey system to help sales professionals post engaging content to their social media accounts.” Most sales professionals want more exposure on social media, but lack the time or writing skill. They end up not being active on their social media platforms, or paying expensive consultants to post on their behalf. BlazingSocial provides this service for a fraction of the cost

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Sales in Sale hat is wrong with you? How could you possibly want to do something that has so much competition? How could you want to do something that everyone else is doing and struggling with? Why would you want to put yourself through such pain? Do you know what it takes? Are you even a little bit ready to do such a difficult thing? I’ve recently been getting some very interesting calls, making a few very unusual connections both on LinkedIn and Facebook. I thought that for those of you that are thinking about what to do with your life and how to improve your volume of business, regardless of what level you are producing, you’d like to hear what some people are doing that makes SALES the most profitable and worthy profession you would consider. Think about this … most salespeople in our business make about two to three deals per month. The rare ones do about five to seven, and the rarest of the rare do more than that. Now let me translate that for you to dollars—most are making about $50,000 to $75,000, maybe a little more, but the greatest majority are doing somewhere close to that. I coach two guys who are knocking the cover off the ball. You know why? They have a discipline that you wouldn’t believe. They have a plan for their day and they follow it every day. They go out and visit real estate people who do business. They talk about helping those people close deals and help them grow their businesses. They do all the things I have written about for the past 30 years. And they don’t hear, “No!” they just keep

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The

Mortgage

Godfather

s ... You Want to be ales? BY RALPH LOVUOLO SR.

plugging away day after day. What I want to introduce you to are a couple of ideas that most of you would tell me are a waste of time. That Zillow and that ilk are the way to go. That doing the basics are so old and outdated that you wouldn’t consider these things if you were close to death and someone told you that you’d live another 35 years if you did them. I’m not a luddite. I believe in technology just like you do, whatever level you believe. I just bought this machine and it is the best Macbook money can buy. I have good business acquaintances who own businesses that will help you do more business. Just stop buying business and start selling ideas. Consider this … I got a call from a guy who told me that he didn’t have time to go to his closings. My mind immediately thought that was BS. What else would I think? How many people would tell me that one of the most fundamental ideas I’ve touted over the past 50 years was something he didn’t have time for? Then he follows it up by telling me that “if” he did go to his closings that he’d have to get himself his own driver. I wasn’t dumbfounded, I was just laughing to myself. I was wondering what the hell would prompt this guy to call me. I’m not going to tell you his name, not unless he gives me permission. I promised him we would discuss it after I publish this and because I want to do a video segment about him. Hey, we live in a world of immediacy. We want what we want and we want it now. We don’t want to wait for anything. We hate lines of people queued up at every store we go to. When we have to wait to pay for something we probably can’t afford, but we want, we think there should be a clerk waiting for us. When it comes to success, we think every idea we have should make us a billionaire … NOW! This caller saw one of my

videos. I don’t remember what prompted him to take a gander, but after we spoke, it mattered not, not a whit. He said he has been in business since 2002, and decided that the way he would make money was to use his greatest strength, his personality. His ability to connect with people on a personal level. Sure, the market was very much in his favor, as refis were being written by people who were saxophone players the day before and now were sitting in a cubicle taking calls from people who wanted all the money they could get from their house. They didn’t have to verify anything, not any job, not an income, not a savings … literally nothing. I watched it, I saw a company start with about $5,000, rented a space, put in used cubicles and chairs, and in a couple of months, was closing about 20 deals a month. By the way, he got greedy and did a lot of things after I left that cost him his business, his job, relationships of a lifetime, and is headed for the hoosegow. Much longer story attached, but that is not the purpose of this particular article. My new friend started with a small database, friends and family mostly, only about 150 people. And started to call them. Unique right? No, not at all. Remember, he knew these people. Now me, I wouldn’t do a mortgage for a family member for all the money you could pay me. I didn’t want them to think I was interested in their personal lives. But these people, they knew and really liked him and so he started to call every one of them and tell them what was going on in the market. Many of them liked what they heard. So he decided it was a good idea to continue doing it. Then he decided that he had to become different. Like I wrote above, he had to do something unique. So, as his list grew and he started to keep his database on the best CRM he could find,

up to date. He found out dates of birthdays, anniversaries, children’s graduations, even the dates of someone who had passed away. Did he use that information to call them on those anniversaries? No. not him. How about the day before the special day. How about the day before? Would you do this? Do you think it would take discipline? The kicker … do you think that when they needed financing after hearing from him for five years they would call anyone else? Think about this … a family of four that all have birthdays, that’s four calls a year. Then there is the anniversary, that’s five, then the day they met, then the day they bought or refinanced their house, six. Then we can get to a parent’s death anniversary or if their cat died. You think you could do this? How many calls can you make to a family in a year to congratulate them or mourn with them? Now you want to know the results. He has a team of seven people. I bet your mind assumes he has assistant LO’s … wrong! You know why he has seven people? Because he has 40 loans in his pipeline. And the pipeline never gets clogged. The loans close on time because he has the best people he could find, and the pipeline never gets smaller, it keeps growing. He works his system every day for 90 minutes from 9:30 a.m.-11:00 a.m. Every day. Can you do that? How many Realtors send you

business on a regular basis, I asked. Just a few, he said. It’s my relationship with my database that works for me. Do you discuss rates? Never! People, that’s what works for him. You see, most all of you don’t have a system. You drink your coffee at your cubicle and sit there and waste your time. Any system will work if you work it, but most of you have some fear that stops you from believing in yourself. We finished the conversation discussing a Realtor he knows in another state who has a team of people who she’s taught this to. She’s making a bloody fortune. Here’s my take. I have a system, my system is that you cannot do what everyone else is doing. I recently received a phone call from a woman who wants help making money. She asked what she could do? I gave her about 35 minutes of advice, from the voice message on her phone to building a database, to ideas that would make her stand out from the crowd of Mortgage Loan Originators she is afraid of competing with. Then I told her this story and I told her how simple it is … if she had the discipline to be different and unique and do it over and over again. You want to know what else I told her and sent her? Well, you’ll have to call me or send me a message and you’ll find out how easy it is to make money. I sent her a whole plan. I’ll let you know what happens when I call her back.

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.

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Day/Time Airing

Master the Markets with Barry Habib

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.

Centurion Roundtable Interviews

Learn the secrets of success from this elite group of high volume originators.

Mondays at 11 a.m.

nmpU Campus Talk

Success Strategies that Work for Today’s Originator.

Mondays at 2 p.m.

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.

Million Dollar Mortgage Minute

Jon Maddux’s insights on how to ﬁnd and market to multi-million dollar borrowers.

Tuesdays at 2 p.m.

WEDNESDAY

Top Originator Secrets with Brian Sacks

Closing more, making more and still enjoying life!

Wednesdays at 7 a.m.

THURSDAY

The Most Connected Mortgage Professionals

Leaders who share their knowledge for the betterment of the industry. The most liked, followed, and retweeted Mortgage Professionals.

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Alternative Lending: Top Originator Strategies

Strategies from top originators using alternative lending.

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The WOW Factor

Learn the secrets of making the most of your online reputation from SocialSurvey’s Top Performers.

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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.

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FRIDAY

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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.

Angel Oak Commercial Lending Acquires Cherrywood Mortgage

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Angel Oak Commercial Lending LLC has acquired a controlling interest in Cherrywood Mortgage LLC, a national small-balance commercial mortgage lender based in Los Diamond Bar, Calif. Cherrywood specializes in loan originations with balances of $5 million or less, typically on stabilized or value-add properties for all major commercial property classes. With this acquisition, Cherrywood will become the wholesale small-balance commercial lending arm of Angel Oak Commercial Lending, and Chief Executive Officer Bill Komperda and President Ed Resendez will continue to lead Cherrywood’s operations. “The experience that Bill, Ed and the Cherrywood team possess is unrivaled in the commercial lending industry,” said Ben Easterlin, Managing Director of Angel Oak Commercial Lending. “Cherrywood has long been regarded as a top firm in the space with an extensive network of brokers throughout the country.” New American Funding Recognized as a “Best Workplace for Millennials”

For the second year in a row, New American Funding has been named one of the “Best Workplaces for Millennials” by Fortune and Great Place to Work.

The list was compiled of 100 companies, which included healthcare, hospitality, retail and technology industries. The “Best Workplaces for Millennials” ranking is based on feedback from more than 389,000 employees at Great Place to Work– certified Organizations. An Anonymous Trust Index survey assessed Millennial employees’ experience of their managers’ competence, respect and fairness in the workplace, meaningful work and other elements essential for an outstanding workplace. “We’re honored Fortune and Great Place to Work have recognized New American Funding as one of the Best Workplaces for Millennials,” said Rick Arvielo, New American Funding’s Chief Executive Officer. “The Millennial generation makes up a significant segment of our workforce and our employees come first with us. Our focus every day is to build a company culture where employees feel established, valued and supported in growing their careers. We truly care for our employees like our own family.” Citizens Financial Buys Franklin American Mortgage for $511M

Citizens Financial Group Inc. has announced an agreement to acquire Franklin American Mortgage Company for $511 million. The combined mortgage

business will be led by Eric Schuppenhauer, Citizens’ President of Home Mortgage, while Scott Tansil, Chief Financial Officer and Chief Operating Officer of Franklin American Mortgage, will lead the acquired correspondent and wholesale origination businesses from Franklin American’s headquarters in Franklin, Tenn. Dan Crockett, the Owner, President and Chief Executive Officer of Franklin American, will hold an advisory role with Citizens Home Mortgage, which is based in Providence, R.I. As of the of the first quarter, Franklin American Mortgage had approximately 900 employees and managed a $41.4 billion mortgage servicing portfolio and generated approximately $13.7 billion in annualized originations, of which nearly 100 percent was conforming, according to the company. “This transaction takes our mortgage business to the next level, expanding our reach and adding immediate scale in servicing as well as innovative correspondent and wholesale solutions,” said Brad Conner, Citizens’ Vice Chairman and Head of Consumer Banking. “Franklin American Mortgage’s strong history of excellence in customer service is a great cultural fit with our organization and we are excited to welcome a new group of colleagues to Citizens.” “We view this transaction as an opportunity to add scale and capital to the outstanding platform and customer-centric

culture that our employees have created," said Crockett. "Citizens shares our deep and enduring focus on delivering for customers, as well as our strong commitment to colleagues and communities, which Franklin American Mortgage employees have long embraced. Together, we’ll be able to increase our positive impact on customers and grow the business platforms that are a great source of pride for us.” DocMagic Partners With MortgageHippo and KeyStoneB2B

DocMagic and MortgageHippo have announced a seamless eSign integration between their two platforms, enabling MortgageHippo’s lender customers to provide borrowers with the ability to electronically sign documents at any stage of the mortgage process. eSignatures eliminate the time constraints and accessibility limitations of manual signatures, thus providing lenders with a faster mortgage process and reduced origination costs. The eSignature process that MortgageHippo provides via DocMagic is as legal and valid as a manual process using printed and wet signed documents. “If lenders want to stay competitive, they need the tools to satisfy borrowers’ growing appetite for an easy and robust digital experience,” said Joe Dahleen, Executive Vice President and CSO at MortgageHippo. “MortgageHippo’s integration with DocMagic allows us to provide those tools to lenders by

Veros Announces Partnership With Accurate Group

Veros Real Estate Solutions and Accurate Group have announced that they have partnered to provide a complete, end-to-end collateral valuation and analytics solution that will enable home equity lenders and other mortgage industry participants to cut costs and increase operational efficiencies. Both companies' services will

be integrated through Veros’ VeroPRECISION valuation decision engine. VeroPRECISION uses sophisticated data analysis to first determine a subject property's suitability for an automated valuation model (AVM). In cases where VeroPRECISION instantly deems a property appropriate for AVM valuation, those customers will immediately receive an AVM. Based upon machine learning in a production environment, the VeroPRECISION decision engine determines the most accurate valuation at the subject property level.

"With the combination of rising interest rates and rapidly escalating property values, homeowners are increasingly choosing to remain in and remodel their homes and tap available equity through a home equity line of credit rather than traditional refinancing,” said Robert Walker, CMB, CMT Vice President of Sales at Veros. “By partnering with Accurate Group to provide comprehensive home equity appraisal services, we have created a seamless, integrated solution that continued on page 81

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FHA 203(k), FNMA HomeStyle®, a d an VA RENO R .

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offering eSignature capability throughout the entire mortgage process.” MortgageHippo provides mortgage lenders with a suite of Web and mobile-ready products that enable an efficient, secure and fully online borrower experience from the point-of-sale to closing. Lenders can order disclosures directly from their loan origination systems (LOS), most of which are already integrated with DocMagic. “We are pleased to partner with MortgageHippo and offer our mutual lender clients a strong digital mortgage point-of-sale solution that integrates tightly with our platform and LOS partners,” said Steve Ribultan, Director of Business Development at DocMagic. “Integrating with MortgageHippo is yet another step that DocMagic is taking to deliver on the promise of achieving a truly paperless digital mortgage process.” DocMagic has also announced a partnership with KeyStoneB2B, where DocMagic’s SmartCLOSE will be provided through the KeyStoneB2B platform, enabling lenders and settlement service agents using the KeyStoneB2B platform to connect seamlessly to SmartCLOSE. DocMagic’s SmartCLOSE is a central portal for sharing and collaborating on documents, data and fees. “Loan information changes on a moment to moment basis, and without a central system of record, lender compliance relies on multiple parties involved in the transaction, and their ability to proactively connect with each other to reconcile data, fees and information,” said Dominic Iannitti, Chief Executive Officer of DocMagic. “With the amount of detail and the number of people involved, it’s almost impossible to achieve completely accurate and consistent information unless there’s a single system of record.” James V. Luisi, Chief Information Officer and Chief Technology Officer for KeyStoneB2B, said, “Now that our lender customers have seamless access to SmartCLOSE, they and their settlement service providers can establish an accurate, alwaysupdated single system of record, which will save them a lot of time and prevent a lot of potentially costly errors and inconsistencies. Plus, they benefit from a host of other features, not the least of which is compliance with the GSEs’ UCD mandate prior to its June deadline.”

Independent Mortgage Originators By Andy W. Harris, CRMS

Evan Einhorn Modern Home Lending NMLS#: 178930/NMLS#: 1085589 This month, I’m interviewing Evan Einhorn from Arizona. Evan recently founded Modern Home Lending with the goal of providing better service and rates to his clients. As an Arizona native and W.P. Carey School of Business (ASU) graduate, he serves the entire State of Arizona. He is also an avid traveler, so you’ll often catch him exploring the Southwest and traveling across North America in his free time.

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34 Andy W. Harris: Evan, tell me a little about yourself and your career. Evan Einhorn: I got my introduction into real estate in high school when I took a unique elective where I was able to get my real estate license. Little did I know that it was going to introduce me to the real estate and mortgage industry that I love today. After four years of being a real estate agent during college and another four years of being a Loan Officer on the retail side of the mortgage industry, I recently opened my own mortgage brokerage, Modern Home Lending. I understand you recently became a Mortgage Broker from the banker world. What motivated you to make the change? There were three primary factors that sparked my interest in starting my own brokerage: flexibility, pricing and options. With the increasing rate environment, I wanted to make sure I put myself in a spot to be competitive in the marketplace. My business has already grown because of the numerous loan options I have available, along with more competitive pricing (lower rates, lower MI rates, less fees, etc.). What would you say so far are the biggest differences you’ve experienced coming from the retail side? The two biggest differences that I’ve witnessed are quicker service on the front end of loans and better pricing because you’re not stuck with one lender’s rate sheet. My first deal that I closed at my new brokerage was clear to close in eight business days–a personal record for me. I was really worried about service and turn times, but my deals are closing quicker than ever before. How would you compare pricing when compared to the Mortgage Banker world? Rates are definitely not everything in this business. However, my pricing on the broker side is better on every single product I offer. Every day, I know that my clients are getting a great deal on their mortgage–it’s my job to help them find the best loan for them and I love what I do! What are you seeing in your local market on trends, inventory and consumer/Realtor mortgage education? It’s a very competitive marketplace for buyers right now because of

extremely low inventory–it’s a complete seller market in any non-luxury neighborhood. Almost every well-priced listing within the Phoenix Metro area is getting multiple offers which has made it important for buyers to use the right mortgage and real estate professionals to help them stand out. I know the myth 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? I believe this is a myth and was one of my biggest concerns of moving over to the Mortgage Broker side. Because the top wholesale lenders move so quickly, we are able to provide even better and quicker service to our customers. If you provide well-documented files as a Broker, you’ll be rewarded with clean and quick approvals. What would you say are your best forms of marketing today to generate new business? I am almost 100 percent referral-based–from my past clients, my sphere and real estate professionals. Customers know that when they use Modern Home Lending, they’ll be taken care of with great service, all loan options will be fully explained, and they will receive great rates. I continue to reach out to new real estate professionals to show them how I can help their business–a strong mortgage partner with great service, products, marketing and rates can make a big difference to some of my real estate partner’s business. Anything you would choose to share with Retail Loan Officers considering the change to becoming an Independent Mortgage Broker? I knew that I was going to like the move over to the Broker side–however, it’s been even better than I anticipated. You will likely get better service, quicker turn times, and better pricing as long as you do your due diligence, and turn in a complete 1003 with supporting documentation (our job anyways). I knew I was going to get better pricing, but I did not know that I was going to be so quick on closings, which has helped me impress real estate professionals and customers. 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.

NAPMW in the

News

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Fannie Mae Updates Training Nevada Protecting Digital Assets Swap Meet Presentation

NAPMW’s education offerings Education … it is who we are … it is what we do. NAPMW is one of the oldest professional organizations of its kind. It’s vision is quite simple … in order for the dream of homeownership to be realized, the professionals of this industry must be provided with the best in business, personal and leadership development. NAPMW serves all mortgage professionals from all walks and professions in the industry. Through the association’s online partnership with MortgageEducation.com, NAPMW members can take advantage of PE and CE NMLS SAFE Training. There are many locals across the country continue who provide outstanding education opportunities through their General Meetings and Seminars. No doubt, there is an NAPMW near you. On a National and Region level, NAPMW offers both live education and Webinar trainings on all aspects of the lending industry. NAPMW’s Institute of Mortgage Lending hosts professional designations in Mortgage Lending; Ethics and Mortgage Instruction. At NAPMW, members believe education is only worthwhile when it is invested in. Don’t miss your opportunity to get plugged into your future. For more information about NAPMW’s variety of educational opportunities, e-mail NAPMW1@NAPMW.org.

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NAPMW 2018 Annual Conference presentations now available Presentations from NAPMW’s 2018 Annual Conference are now available online. A big thank you to the Conference presenters and attendees for their participation. The following Presentations are now available online at NAPMW.org:

NAPMW’s National Board of Directors Meetings National Board Meetings for the 2018-2019 NAPMW Board of Directors will be held the second Wednesday of the month at 2:00 p.m. Pacific time. The call is open to all NAPMW members! To attend, please register in advance online at NAPMW.org. After registering, you will receive a confirmation e-mail containing information about joining the Webinar. For questions regarding National Board Calls, please contact Admin@NAPMW.org.

NationalMortgageProfessional.com

NAPMW announces 2019 Annual Education Conference 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-and-operated 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. Details on the NAPMW 2019 Annual Education Conference will be made available as they are finalized. For preliminary information, call (608) 886-9817 or e-mail Admin@NAPMW.org.

Save the Date!

NCRA 26th Annual Conference 2018 Tuesday-Thursday, November 6-8, 2018 Atlantis Casino Resort Spa 3800 South Virginia Street • Reno, Nev. oin the National Consumer Reporting Association for its threeday National Conference at the Atlantis Casino Resort Spa in Reno, Nev. NCRA’s 26th Annual Conference will begin Tuesday evening, Nov. 6 with a Welcome Reception and Marketplace, followed on Wednesday and Thursday, November 7-8 with full days of motivational and educational sessions! NCRA’s fabulous feature event, sponsored by Meridian Link, will be held Wednesday evening at the National Automobile Museum: The Harrah Collection. NCRA is looking for volunteers to be helpers and ambassadors! All volunteers will have their picture, name and company name listed on a Thank You Page in NCRA’s Conference Binder. Each volunteer will have a two-hour pre-determined time slot and job. Pick the job you feel most comfortable with. l Welcome Bag Preparation: Seeking two volunteers on Monday responsible for assisting in stuffing Conference Welcome Bags with additional items and preparing ready for registration. l Welcome Ambassador: Seeking six responsible volunteers for warmly welcoming attendees as they check in and give them a map to the hotel, directing them to the registration table and conference meeting rooms. l Registration Table: Seeking 14 responsible volunteers for helping out with the registration table, handing out conference materials and checking in attendees, speakers and guests. l Event Sponsor Signs: Seeking 12 responsible volunteers for making sure the sponsor signs are up at designated events. l Tent Cards: Seeking two responsible volunteers for making sure Sponsor Thank You Tent Cards are placed on session tables before the start of the first morning sessions or special event. l Banners: Seeking one responsible volunteer for making sure the banners have been taken down after the Conference and brought to the Conference office for packing. l Packing: Seeking two responsible volunteers for assisting NCRA Office Manager Jan Gerber in packing up materials for return shipping. l Photography: Seeking responsible volunteers for taking candid shots with your smartphone of each session/speakers and special events (lunches, breaks, parties). Each volunteer will be responsible for submitting five to 10 clear shots of each session or 10 to 15 clear shots of an event, deleting blurry shots and/or duplicates before submitting. Special events such as Feature Event, Keynote Speaker Book Signing, Welcome Reception and Awards Luncheon need to make sure you have clear shots of the “Stars” and each exhibitor company.

For more information on the NCRA 26th Annual Conference 2018 and volunteering opportunities, call NCRA at (630) 539-1525 or visit NCRAInc.org.

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search assistance to current and aspiring homeowners living in economically challenged areas. The initiative, which is being coordinated under Freddie Mac’s three-year Duty to Serve plan, is aimed at homeowners with Freddie Mac Home Possible mortgages who are seeking new jobs after becoming unemployed or underemployed. The designated high-needs areas under the Duty to Serve regulation includes middle Appalachia, the lower Mississippi Delta, the Colonias low-income unincorporated housing-areas located along the Mexico border region, and other tracts located in persistent poverty counties. “While some parts of the country are benefitting from low unemployment rates, many rural areas continue to see limited opportunities and flattening or declining wage growth,” said Mike Dawson, Vice President of SingleFamily Affordable Lending Strategies and Initiatives at Freddie Mac. “Through our work with NextJob, and by partnering with leading local organizations on the front lines of this problem, we are capitalizing on the success of our past employment programs to help the next frontier of unmet workforce development needs. This partnership will provide meaningful opportunities to create and sustain homeownership for families across rural America.” Ginnie Mae Enhances Issuer Performance Management Tool

Ginnie Mae has announced that it will be enhancing its Issuer Operational Performance Profile (IOPP) tool with the addition of a singlefamily prepayment rate metric. The new metric enables Ginnie Mae MBS Issuers to more easily monitor the prepayment rate of loans in the securities they've issued that carry the Ginnie Mae guaranty. The new feature is the latest move by Ginnie Mae to create tools that help its Issuers understand how the corporation is

monitoring prepayments to ensure the integrity and market predictability of Ginnie Mae MBS. Issuers should continue to monitor their overall IOPP scores, including this new metric, as a tool for helping to assess their relative performance in the Ginnie Mae program. The IOPP scores are not public. Issuers with questions should contact their Account Executive. "Ginnie Mae is laser-focused on the performance of our securities and knows that only in partnership with our Issuers can we continue to attract the global capital necessary to finance affordable homeownership," said Ginnie Mae Executive Vice President and Chief Operations Officer Michael Bright. Equifax Enhances Its Work Number Database With New Indicator

Equifax has announced that it is offering The Work Number Indicator, an instant alert of whether an employment and income record exists on The Work Number database. The Work Number Indicator, delivered along with the credit report, proactively signals to lenders whether a borrower’s income and employment information is already available within Equifax’s U.S. database, which can help eliminate a tedious documentation process for borrowers, and significantly expedite the mortgage origination process for lenders. “As the industry continues to move toward a more streamlined, technologyenabled origination process, ready access to verifications data like income and employment are key to ensuring that the process isn’t hindered,” said Craig Crabtree, Senior Vice President and General Manager of Equifax Mortgage and Housing Services. “When lenders use The Work Number Indicator, they are able to more efficiently manage their workflows, ultimately resulting in an improved experience for borrowers and lenders’ staff alike.”

FIG Partners Debuts 504 Loan Purchase Program

Visionet’s AtClose Now Compatible With Amazon’s Alexa

Visionet Systems has announced that AtClose, its workflow-based title production platform, now has an integration with Alexa, Amazon's AI-powered virtual assistant. "Transaction management technology for the title industry is necessarily complex, but finding out how your company is doing shouldn't be," said Norman Gottschalk, Chief Technology Officer at Visionet Systems. "With AtClose, all our users need to do is state their request and Alexa will provide the answers that will help them make better decisions faster. This has long been the promise of technology and now, with this offering, those benefits are finally coming to the title industry." The integration with Alexa is now offered as a standard feature of AtClose and it allows title executives to ask their Alexa device about closings, remittances, and other aspects of their title business by simply using voice commands. The company's performance is then returned to them in real-time. AtClose offers this technology for its customers, allowing Realtors, Lenders and even Borrowers to use natural language voice commands to get the answers to their queries, directly from their smart devices. AtClose is available with the option to pay as you go and requires minimal upfront costs. 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:

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According to a new data analysis from Zillow, with air conditioning sold for 2.5 percent more than homes without it, averaging nearly $5,500 for the typical home. This applies for markets with a greater frequency of hot weather—most notably in San Antonio, where homes with air conditioning sold for a 5.8 percent premium—as well as markets where the weather is more diverse, such as Cincinnati with a 5.7 percent premium for homes with air conditioning. Furthermore, potential buyers are especially eager for central air conditioning. Zillow’s data confirmed that air conditioning was listed as a required feature by 62 percent of buyers last year, compared to the 48 percent of buyers eager for a private outdoor space. The situation is identical with renters: typical rental on Zillow with central air conditioning rented for 2.8 percent last year than rentals in the same market that don't have air conditioning, or about $40 per month. "With summer temperatures hitting record highs across the country, today's home buyer places a premium on the onceupon-a-time luxury amenity of air conditioning," said Zillow Senior Economist Aaron Terrazas. "Individual design preferences or decorating styles might deter buyers from certain homes, but there is a strong consensus in favor of air conditioning, although in the nation's fastest-moving markets, AC may weigh relatively low for buyers eager to find any home they can. In historically more temperate climates, some homes, especially older ones, aren't as likely to have air conditioning. But in places where temperatures regularly reach triple digits, it's hard to find a home without air conditioning." Mortgage Network Sponsors Fundraiser for “Black Hawk Down” Soldiers

New to Market 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.

Mortgage Network Inc. sponsored a recent fundraising event that featured two American soldiers who participated in the battle that inspired the 2001 war

film "Black Hawk Down." Retired Army Chief Warrant Officer Gerry Izzo spoke about his incredible pilot experience during the Battle of Mogadishu, the day-long fight in Somalia's capital city in 1993 upon which the 2001 film is based on. Local hero and surprise guest Sgt. Peter R. Squeglia Jr. described his impressive involvement as part of the 75th ranger regiment on the ground. Following the presentation, everyone gathered for a meet and greet with the soldiers. "I was honored to learn about the grave danger these veterans faced and the ultimate sacrifice some of them made,” said Mary T. Quesnel, a Mortgage Network employee who attended the event. "I am proud to be an American. What they do for our country is truly amazing." Proceeds from the event will be donated to Knights of Hero's Camp, a charity for children of fallen U.S. soldiers. The money will be donated in honor of Lt. Colonel Morris (Moose) Fontenot, an Air Force pilot and Longmeadow resident who was killed in a plane crash near Deerfield Valley, Va. in 2014. "We were proud to sponsor this event to support such a deserving local charity that benefits children in our community," said Brian Koss, Executive Vice President of Mortgage Network. "We thank all of our employees, their families and our clients who made this event a great success." NAHREP Honors the Top 250 Latino Mortgage Originators

The National Association of Hispanic Real Estate Professionals (NAHREP), in association with RADIAN, has announced the release of its fourth annual Top 250 Latino Mortgage Originators Report, recognizing the top producing Latino mortgage professionals across the United States. The report ranks individual originators based on both number and dollar volume of transactions. For the continued on page 80

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FIG Partners, an Atlanta-based investment banking and research firm, has introduced an SBA 504 Loan Purchase Program that will enable community banks to sell first lien commercial real estate loans originated through the Small Business Administration's (SBA) 504 Loan Program. The program will be available nationwide and all commercial property types will be considered for eligibility. The program includes fixed- or floating-rate options up to a 25-year term, with a targeted pool size up to $100 million. Transactions are expected to close within 30 to 45 days and loan servicing will be released. "FIG's SBA 504 Loan Purchase Program is the firm's latest solution for helping community banks manage their balance sheet

and demonstrate liquidity," said FIG CEO Geoffrey Hodgson. "FIG continues to develop innovative new services to enable management teams to achieve all of their strategic objectives."

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Company Offers Online Flood Insurance Shopping Neptune Flood, a St. Petersburg, Fla.-based fintech firm, has launched Neptuneflood.com, an online resource designed for consumers shopping for flood insurance. According to the company, homeowners can get quotes and buy policies online in three minutes or less, adding that policy origination has a five-day waiting period and doesn't require a surveyor to visit the property in order to generate an elevation certificate. The company also claims that homeowners can save up to 25 percent off their flood insurance when choosing their insurance instead of the federal government's National Flood Insurance Program. Neptuneflood.com is licensed to sell flood insurance in 21 states and is planning to add eight more states by the end of the summer. “We use dozens of data points to assess the risk of flooding,” said Neptune Flooding Chief Executive Officer Jim Albert. “This allows us to give an instant price to homeowners who want to buy flood insurance. Less than 10 percent of American households have flood insurance, when in reality most everyone should. Now homeowners can easily buy coverage online—Life Waterproofed with Neptune.”

Addressing Post-Housing Crisis Issues

How Sen. Nelson Helped Fix the Housing Market BY PAM MARRON n 2013, U.S. Senator Bill Nelson (D-FL) did something that helped 7.1 million consumers who had lost their home in a short sale. An erroneous foreclosure code was being applied to the credit of past short sellers and, instead of the two-year wait (now four years) to get a new mortgage, the foreclosure code resulted in a seven-year wait before a conventional mortgage could be obtained. There is a difference between a short sale and a foreclosure. On a short sale, the negative equity homeowner agrees to work with their mortgage holder to sell a home where the amount of the mortgage owed is greater than what the home can sell for. To be approved for a short sale, the homeowner must prove an acceptable hardship as the reason to sell the home. On a foreclosure, the homeowner either cannot prove a hardship for a short sale or they simply stopped paying and walked away from the property. During the housing crisis, nearly all lenders required mortgage delinquency in order to be considered for a short sale. Consumers who had an acceptable hardship, but were determined to stay current on their mortgage throughout the short sale process, were sent a denial letter with the reason for denial left blank. For both a short sale or a foreclosure, after 120 days of mortgage delinquency, the foreclosure credit code is applied.

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This is not apparent on the face of a tri-merged credit report. Where the foreclosure code stems from can be visibly evaluated when the three credit bureau(s) of Experian, Equifax and TransUnion are individually shown. Meridian Link, a platform available through many credit reporting agencies, can show this data. The Fannie Mae Desktop automated system also specifies which account shows as a foreclosure. The Freddie Mac Loan Product Advisor automated system specifies that a foreclosure exists, does not name the foreclosure account, but does separate the three bureaus to research individual payment history. Efforts to get this error fixed were taken to the highest levels of the lending industry. Off the record, many were convinced that affected consumers were “strategically defaulting,” and there was little desire to fix this issue. It’s no picnic going through a short sale. In October 2015, the working paper “Can’t Pay or Won’t Pay? Unemployment, Negative Equity, and Strategic Default” found that … job loss and adverse financial shocks … and households that experience divorce, report large outstanding medical expenses, or have had any other severe income loss are much more likely to default.1 Letters of hardship often chronicled that homeowners waited too long, wiping out savings and retirement funds while waiting for home values to recover.

Legislators in nine of the hardest hit states, the U.S. Treasury and the CFPB were all visited about the foreclosure code error. But, U.S. Sen. Bill Nelson’s office pushed for a solution and he personally took the issue to a senate meeting on May 7th, 2013 questioning the CFPB and the Consumer Data Industry Association (CDIA) on why this credit code issue existed and that it was hampering eligible consumers from re-entering the housing market. Sen. Bill Nelson then worked with the CFPB and Fannie Mae and a workaround was initially put in place in November 2013 and fine-tuned again in August 2014. Confirmation of the foreclosure credit code placed on short sale credit was explained by attorney Chi Chi Wu with National Consumer Law in her paper “Solving the Credit Conundrum: Helping Consumers’ Credit Records Impaired by the Foreclosure Crisis and Great Recession”2. Attorney Wu cited …

Reporting short sales as foreclosures: This error is caused because there is no specific code in the standardized format for credit reporting (called the “Metro 2 format”) for a short sale. Instead, a short sale is reported under the Metro 2 format as a loan that is “settled for less than full amount,” and in many cases also as “foreclosure started.” For over seven million past homeowners who have had a past short sale, for loan originators, lenders and the real estate industry … U.S. Sen. Bill Nelson is owed immense gratitude for realizing this problem existed and for pushing hard for a fix to a problem that was keeping eligible consumers out of the housing market. That’s what we expect our public officials to do. Thank you, U.S. Sen. Bill Nelson! Disclaimer: While I am a member of the HUD Housing Counseling Federal Advisory Committee, the opinions noted are those of the authors only.

Footnotes 1—Can’t Pay or Won’t Pay? Unemployment, Negative Equity, and Strategic Default. Kristopher Gerardi, Kyle F. Herkenhoff, Lee E. Ohanian, Paul S. Willen. October 2015: BostonFed.org/Publications/Research-Department-Working-Paper/2015/Cant-Pay-orWont-Pay-Unemployment-Negative-Equity-and-Strategic-Default.aspx. 2—“Solving the Credit Conundrum: Helping Consumers’ Credit Records Impaired by the Foreclosure Crisis and Great Recession.” December 2013. Chi Chi Wu. Page 7. Https://www.nclc.org/images/pdf/credit_reports/report-credit-conundrum-2013.pdf.

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.

By Jonathan Foxx, Ph.D., MBA

Steps for Responding to Consumer Complaints

1. Consumer submits a complaint about a consumer financial product or service by Web, telephone, mail, fax, email or another agency refers the complaint to the CFPB. Consumers who submit complaints directly to the CFPB’s Web site can opt to have their complaint narrative published in the Consumer Complaint Database. 2. Consumer Response screens the complaint for

completeness and sends it to the company identified by the consumer via the secure portal for a response or refers it to the appropriate regulator. Company reviews the complaint, communicates with the consumer as appropriate, and determines what action to take in response. Company responds to the consumer and the CFPB via the portal. Optional: Company selects from a structured list of public company response categories. CFPB invites the consumer to review the company’s response by logging into the secure Consumer Portal or calling the CFPB’s toll-free number. Consumers are given the opportunity to provide feedback to the CFPB about the complaint process.

8. Complaints are published in the Consumer Complaint Database when the company responds to the complaint confirming a commercial relationship with the consumer, or after the company has had the complaint for 15 days, whichever comes first. With consumers’ consent, scrubbed complaint narratives will be published when the company selects an optional public response or after the company has had the complaint for 60 calendar days, whichever comes first. Complaints can be removed if they do not meet all of the publication criteria. 9. Complaint data and information is shared with other offices within the CFPB, including, but not limited to, enforcement and supervision, as necessary.

Jonathan Foxx, Ph.D., MBA, is the 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. Information contained in this article is not intended to be and is not a source of legal advice. If you would like to contribute a question, please submit it to Compliance@LendersComplianceGroup.com.

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Answer In the readiness reviews that we do in anticipation of examinations conducted by the Consumer Financial Protection Bureau (CFPB), one of the important policies to always review is the one relating to consumer complaints. Keep in mind that the CFPB considers the appropriate handling of consumer complaints a foundational pillar of a Compliance Management System. Response time and process flow are critical aspects of the

compliance requirements vis-àvis consumer complaints. The CFPB answers consumers’ questions and sends consumers’ complaints directly to financial companies. It expects to work with companies in such a way as to get the consumer a response, generally within 15 days. The CFPB considers responses to be past due for complaints that have exceeded the 15-day limit by which a company must provide an “in progress” status or the 60day time limit by which a company must provide a final response to a consumer complaint. The Consumer Response process requires the following nine steps:

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Question n our recent CFPB exam, the examiners noted that we did not have a policy and procedure in place for consumer complaints that took the CFPB’s Company Portal into consideration. I know the policy is supposed to provide the procedures, step by step, for handling consumer complaints that originate through the portal. Our Compliance Attorney asked us to contact you, as she said you provide such policy documents for consumer complaints. So, what are the steps that we should be following when we receive a complaint through the CFPB’s complaint portal?

NMP Mortgage Professiona Milton Karavites Senior Regional Vice President New American Funding BY PHIL HALL

ilton Karavites is a Senior Regional Vice President for Tustin, Calif.-based New American Funding, where he is responsible for the company’s lending activities in the Colorado, Utah and Alaska markets. National Mortgage Professional Magazine recently spoke with Karavites regarding this three-decade career in the mortgage profession and his thoughts on the state of the mortgage industry and housing market.

When did you get into the mortgage profession, and was this your original career choice? I started at the age of 21. I was a senior at Colorado State University and my brother-in-law had entered the business about two or three years earlier. I was getting ready to graduate with a degree and had no idea what to do with it, when he suggested I look into the mortgage profession, so I did. That was 33 years ago, I started with Universal Lending in Denver, they were a local small correspondent lender. How did you wind up at New American Funding? The same brother-in-law that helped me enter the business and I worked together at several companies for approximately 28 years. After the recession, we were both looking for a new company to call home, one day he called me and said, “I think that I found the company that we can get back together and do

something special.” I flew out to California to meet with the team at New American Funding, which, at the time, was a much smaller company than it is today. At the time, they were looking to expand their retail footprint outside of the Southern California region. I really liked the culture and operations model, and within weeks, I opened their first location outside of California on Nov. 1, 2012 in Greenwood Village, Colo. What makes New American Funding different from the competition? Primarily, the same things that drew me to New American Funding still exist today … culture, operations and our people. We have also grown into one of the best marketing and technology platforms in the industry. Our culture allows our team to grow and gives them the wherewithal to do so. Combine this with what I refer to as being a true direct lender and we have

something very special. What I mean by being a true direct lender is that we not only sell directly to the agencies, but we also retain the servicing on nearly 98 percent of our production, which helps remove the hurdles of investor overlays. In my region—which covers Colorado, Utah and Alaska—we funded more than $1 billion last year, and we are on track to exceed that number this year. We also market our customers jointly between Loan Officers and Real Estate Agent partners, for example, we co-market to our borrowers with our post-close campaign after they close a purchase loan with us. This way, if the customer wants to offer a reference to another homebuyer or they decide to buy a second house or an investment property, we’re right in front of them. Part of this marketing includes adding the photo and contact information of our Loan Officer and Real Estate Agents right on the mortgage statement. This is a real game-changer.

Not many lenders do their own servicing. Why did your company opt to follow that strategy? We had a subservicing company that was not providing the level of service that our company demands. So, we decided to bring it in-house and hired quality team members to handle the entire servicing experience. We control everything about the loan process. How would you categorize today’s housing market? It is as difficult as I’ve seen. Honestly, the one other time that it was this difficult was back in 1988. Today’s challenges, of course, are very different on Loan Officers: Compressing margins, rates increasing and the lack of inventory, along with competition that wasn’t there a year ago: Internet lenders, call centers and credit unions have all jumped into the purchase business because the refinance business has been so slow.

onal of the Month

As you mentioned earlier, you came into the industry as a young person. Do you see a new wave of young individuals coming into today’s industry? No. The average age for our industry is 54—ironically, my age. They’re not coming in because they do not know a lot about it, or they may have seen their parents lose their homes in the recession and they don’t want to have anything to do with the industry that they believe was partially responsible for that. New American Funding is working hard to change this. On our campus in California, we bring in young people and teach them the industry from the ground up. After they complete their training, they can select a career path, whether it is sales or operations. We call this STEP, “Specialized Training Empowering People.” What are the housing markets like in the three states that you cover? Colorado has one of the tightest

inventories in the country. Utah is similar, but the prices are lower and the inventory, although tight, is not quite as bad as in Colorado. In Alaska, the cost of housing is higher, but Alaska and Utah have aggressive housing assistance bond programs that help first-time homebuyers get their dream homes.

The greatest accomplishment would have been my work with New American Funding. I opened in Colorado as a Correspondent Lender with no brand recognition and built it out to a region encompassing three states. Last month, we closed 444 loans totaling $115 million and we continue to grow.

labor shortages. It will be more and more difficult to build affordable housing as material and labor costs rise. In my markets, we are seeing more vertical building, high-rise condos are making a comeback. The issue with this is high-density housing creates other problems such as increased traffic.

In looking back on your career, what do you see as your greatest challenges? And, for that matter, what do you see as your greatest accomplishments? The greatest challenge would have to be getting newer Loan Officers to understand how markets will always change and how quickly it can happen. Typically, when rates rise, there is not a lot of warning. In addition, you rarely have advanced warning of inventory or guideline changes. The mortgage industry is like the weather here in Colorado, if you don’t like it, just wait a few hours and it will change.

What do you see as the nearterm future for the housing market? For the remainder of 2018 and into 2019, I see the market being very tight and similar to what we experienced in the first half of this year. Rates will be slightly higher, but they will not dramatically increase. I also believe that builders will not be able to build as fast as they would like due to

Outside of the workplace, how do you like to spend your leisure time? I am glad that you asked that. I enjoy spending time traveling with my wife Romi and spending time with our children who are grown. Golf is definitely part of this. We were in Italy last year and are planning a trip to France, there is still a lot of the U.S. that I would love to see.

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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Five Ways Mortgage Brokers and Lenders Can Get Ahead of the Digital Marketing Curve By Bud Torcom

Real estate is not immune to sweeping change According to a report on consumer housing trends from Zillow, 87 percent of prospective homebuyers use online resources during the homebuying process. While it still definitely requires inperson interactions, the real estate sector has started to involve less personal contact. Thankfully, digital marketing does not eliminate the personal touch—it delivers more qualified leads to lenders. When borrowers fill out online forms to get

preliminary quotes for a loan, they provide valuable information that lenders can use to deliver targeted advertising. Instead of putting an ad in a newspaper or sending out leaflets in a neighborhood and hoping the right people see it, digital marketing allows lenders to display their messaging only to those who will find it relevant. For instance, you might target people on Facebook who have expressed an interest in moving or who are looking to buy their first home. When those individuals are ready to secure funding, they will already know who you are and what you offer. For instance, one of our clients had purchased thousands of leads, but was not getting much use out of the list on its own. By uploading that list to Facebook and cross-referencing profiles to create an ideal customer profile, this Broker was in a position to call the most promising leads immediately. If there are still too many leads to contact, a Messenger bot provides a great way to qualify them further— answering a host of questions and alleviating any concerns. Five ways to get ahead of the curve Our approach to digital marketing is based primarily on our own experiences, but we also keep an eye on what’s coming down the pipeline. Digital marketing is prone to rapid change, and not embracing a cutting-edge strategy could put you behind the curve. To bring your marketing into the digital fold, start with these five steps:

1. Install a Facebook pixel If you don’t have a pixel installed on your Web site, you’re missing out on valuable information. This small nugget of code will help you track conversions from Facebook ads, optimize those ads, retarget to the most qualified leads, and tweak your audiences for future marketing campaigns. A pixel also allows you to use cookies to track people as they navigate your site and interact with your advertisements, presenting you with additional valuable information. 2. Create a custom audience and Lookalike Audience Target your custom audience starting at the top of the funnel, maybe with a video that helps audience members learn more about your company. You can then move those prospects into lead generation or perhaps reach them using Facebook Messenger. Each campaign should include an advertisement geared toward your target audience, and you should have a minimum budget of about $1,000 per month to ensure you hit about 50 conversions per week. Your definition of conversions might mean 50 leads or 50 clicks, but you will know your ad is optimized for Facebook’s algorithm when you reach that target. Once you have a custom audience, target a Lookalike Audience that is within two percent of your original parameters. Your $1,000 budget continued on page 83

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The potential of platforms Social networks might seem like a trivial diversion from everyday life, but these platforms offer big benefits to lenders. A survey by Velocify on growth in the mortgage market found that lenders who invest more resources in marketing technology are more likely to experience a high degree of growth. In the relatively short time it has been around, Facebook has

become one of the most important marketing channels for businesses in almost every industry. In 2017, Facebook earned 18 percent—nearly onefifth—of worldwide online advertising revenue. The ability of Facebook marketers to create a custom audience is one of the most productive ways to use the platform, as it allows organizations to reach users who are already interacting with them. When a custom audience is performing particularly well, Facebook offers lenders the option to make a “Lookalike Audience.” This powerful feature enables you to reach more people with the same traits as your high-converting custom audience. Facebook pixels are currently able to track visitors to your website, but this useful tool will eventually be able to optimize audiences purely based on which visitors are clicking through your ads—helping you steer people toward your products knowing they have a base level of interest in those offerings.

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hile an overwhelming 87 percent of homebuyers browse the Internet when looking for real estate, a surprising amount of evidence indicates Mortgage Brokers and Mortgage Lenders fail to capitalize on digital marketing tools. All it takes is a quick look at various mortgage Web sites to notice that many lack Facebook pixel integration. And when I talk with these mortgage veterans about a concept like retargeting, I get the impression they think I’m a sorcerer. It’s fairly common for Mortgage Brokers to buy custom audience lists or lookalike audiences, but they generally do not realize we can upload those lists to Facebook to create lookalike audiences based on those leads. They also rarely take full advantage of tools such as Instagram and Facebook Messenger, which means they miss out on valuable crossreferencing opportunities.

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The Most Connected Mortgage Professionals of 2018 CHRISTINE L. BECKWITH Business Facebook: Facebook.com/Christine.Beckwith.16 LinkedIn: LinkedIn.com/in/Christine-Beckwith-4306724 YouTube: YouTube.com/channel/UCzgCiPJDlTiRvN1GBluJ44g Christine L. Beckwith is a two percent female executive leadership in sales, has won, without exception, in the top five percent of sales in her entire career, and many first place national contests. A two-time best-selling author, Christine has been featured in five magazines and one cover in 12 months.

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KEVIN BRUNGARDT LinkedIn: LinkedIn.com/in/KevinBrungardt With 25 years of experience in the mortgage and financial services industry and entrepreneurial skills in banking, lending and asset management, Kevin Brungardt, Chief Executive Officer RoundPoint Mortgage Servicing Corporation, is a strong communicator with a significant and faithful following on LinkedIn—industry professionals who seek his insights and thought leadership on macroeconomics, mortgage servicing and the economy. SEAN Z. CAHAN Business Facebook: Facebook.com/SeanCahan LinkedIn: LinkedIn.com/in/Sean-Cahan-76618930 YouTube: YouTube.com/Channel/UCyeuMUumUGrfQ_69t4AdnQ?view_as=subscriber Blog: MortgageGeek.com Instagram: https://www.instagram.com/themortgagegeek/?hl=en As The Mortgage Geek on YouTube, Sean Z. Cahan’s influence ranges from the incoming Millennial purchaser all the way to individuals purchasing their final home. His hard work and drive make him the lender of choice to the most successful Realtors.

ANTHONY CASA Business Facebook: Facebook.com/AIMENational LinkedIn: LinkedIn.com/in/AnthonyCasa YouTube: YouTube.com/channel/UCryM2yQYZhpme0FnTTGC8TA Blog: AIMEGroup.com Founder of BRAWL, Founder and Chairman of AIME, Founder and President of Garden State Home Loans Inc., Anthony Casa is currently the undisputed number one power influencer in the mortgage industry.

JAY DAVIS Business Facebook: Facebook.com/JayDavisLoanOfficer LinkedIn: LinkedIn.com/in/JDavis2272 Twitter: Twitter.com/JDavis2272 YouTube: YouTube.com/JDavis2272 Instagram: Instagram.com/JDavis2272 Jay Davis in just his fourth year as a Mortgage Loan Officer, shortened the learning curve by gaining and utilizing networking connections with those that impact the industry through social media. This has allowed him to become the regional expert in fulfilling dreams and delivering on hope through homeownership! MARCEL DEITRICH Business Facebook: Facebook.com/GuaranteedRateMarcel LinkedIn: LinkedIn.com/in/MarcelDeitrich YouTube: YouTube.com/channel/UCOfaYPYvejMmCXSB81pRrhA?view_as=subscriber Instagram: Instagram.com/dfw_rate/?hl=en Marcel Deitrich is on the cutting-edge of technology and social media marketing. He uses multiple mediums to reach his customers, clients, friends and family.

MARC DEMETRIOU Business Facebook: Business.Facebook.com/TheMortgageExperts LinkedIn: LinkedIn.com/in/Marc-Demetriou Twitter: Twitter.com/MarcDemetriou1 YouTube: YouTube.com/channel/UC—0PI35jVFrIcEltpdxP7A Blog: MarcDemetriou.Tumblr.com Instagram: Instagram.com/MarcDemetriou Other: Zillow.com/lender-profile/MarcDemetriou Marc Demetriou is a nationally-ranked mortgage expert, speaker, author and former radio show co-host. Marc is known as one of the most connected networkers and relationship managers in New Jersey. His book Lessons From My Grandfather, which was endorsed by Barbara Corcoran, was released on Jan. 16, 2018. RHONDA DELSIGNORE-MULLIGAN Business Facebook: Facebook.com/RhondaMulliganMortgages LinkedIn: LinkedIn.com/in/Rhonda-DelSignore-Sulligan-3512251 Rhonda DelSignore-Mulligan’s following reflects how magnetic she is as a person, while also revealing her go-getter mentality. She is one of the hardest working, socially active professionals out there, and it shows.

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JAY DUNSING LinkedIn: LinkedIn.com/in/JayDunsing Jay Dunsing has 19,375 LinkedIn connections, with 90 percent of those connections people in the mortgage industry. He currently has approximately 417,841 e-mail addresses and phone numbers of Loan Officers across the country, the largest and more importantly, highest quality database of its kind in the country. Jay is a frequent contributor to mortgage-related LinkedIn groups. MICHAEL FAULKNER Business Facebook: Facebook.com/MichaelFaulknerFan LinkedIn: LinkedIn.com/in/Michael-Faulkner-95a29518 YouTube: YouTube.com/channel/UC5H7r7yZO3HWR2cMwoUQdlg/videos Blog: FaulknerMortgage.com/category/blog Instagram: Instagram.com/MichaelDFaulkner Michael Faulkner, Branch Manager for American Pacific Mortgage, has a true passion of home mortgage education and goes out of his way to help his clients.

JONATHAN FOWLER Business Facebook: Facebook.com/JonnyFowler68 LinkedIn: LinkedIn.com/in/JonnyFowler Twitter: Twitter.com/FowlerJonathan YouTube: YouTube.com/channel/UC6meNUjdmNR5t_DzJQo8FFg?view_as=subscriber Blog: MortgageShots.com Jonathan Fowler has been helping Retail Mortgage Branch Managers redefine the meaning of success since 1998. He truly has a knack for bringing the right people to the right opportunity, making it possible for them to not only expand their mortgage businesses, but also grow personally and professionally.

DAVID HOSTERMAN Business Facebook: Facebook.com/DHostermanCastleCookeMortgage/ LinkedIn: Linkedin.com/in/DavidHosterman Twitter: Twitter.com/CCMortgageLLC?lang=en Instagram: Instagram.com/DavidHostermanCCM Other: Zillow.com/lender-profile/DaveHosterman David Hosterman is among the best Loan Officers in the country. He has consistently been the top producer for Castle & Cooke Mortgage over the past few years. In 2017, David closed 237 loans for $66,310,969. He has been featured in Forbes, CBS Money Watch, The Street, MSN Finance, etc.

JOHN H.P. HUDSON Business Facebook: Facebook.com/MortgageYou LinkedIn: LinkedIn.com/in/JohnHPHudson Twitter: Twitter.com/JHPHudson YouTube: YouTube.com/user/PremierHudson Instagram: Instagram.com/JHPHudson John H.P. Hudson’s power and influence in the mortgage industry comes from his passion for homeownership. As a “Mortgage Geek,” John enjoys educating consumers, industry affiliates, and fellow mortgage professionals on life, leadership, regulations, technology, marketing, sales and more. “Teamwork makes the dream work!” is more than a saying for this #MortgagePro! ALEX JIMENEZ Business Facebook: Facebook.com/AJNashvilleLoans LinkedIn: LinkedIn.com/in/Alex-Jimenez-50a44b28 Twitter: Twitter.com/AJ_Nashville YouTube: YouTube.com/channel/UCfF9mzWBwHnnJOljsv3IkqQ?view_as=subscriber Blog: BlogTalkRadio.com/AJNashville1 Instagram: Instagram.com/AJNashville Other: SoundCloud.com/AJNashville Well known for his social media marketing classes and branding classes, Alex Jimenez has built a well-known brand and name for himself in his market as well as other markets across the nation. Between his podcasts and Facebook videos, Alex is one our industry’s top authorities in marketing and branding. TYRONE MAXIE Business Facebook: Facebook.com/Tyrone.Maxie LinkedIn: LinkedIn.com/in/Tyrone-Maxie-64107532 Instagram: Instagram.com/TyroneMaxie Other: Zillow.com/lender-profile/TMaxie Tyrone Maxie reaches out to his community via social media about his services for attaining homeownership, his deep influence is also seen in service projects to benefit the homeless and children in need.

KYLE NICHOLAS MCCRAY LinkedIn: Linkedin.com/in/KyleNicholasMcCray Twitter: Twitter.com/_TheDisruptor Kyle Nicholas McCray is all about innovation and disrupting the field. Kyle really challenges others, thinks outside the box and is a big influencer on LinkedIn.

ERIC T. MITCHELL Business Facebook: Facebook.com/Stated-Income-Is-Back108649865819588 LinkedIn: LinkedIn.com/in/EricTMitchell Twitter: Twitter.com/EricTMitchell YouTube: YouTube.com/channel/UCYgHu7yIMcBQcTVpC72cNNQ Instagram: Instagram.com/EricTMitchell Eric T. Mitchell is Executive Vice President at Gold Star Mortgage and a Keynote National Speaker with MastermindSummit.com. Eric has 30,000 Industry LinkedIn connections, 5,000 personal Facebook connections and is a Certified Master Practitioner in Neuro Linguistic Programming. Eric negotiated the national agreement between America’s premier direct lender, Gold Star and America’s premier Realtor coaching program, CraigProctor.com, to revolutionize the way Realtors and Loan Officers work together.

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RICK GUERRERO Business Facebook: Facebook.com/Rick.Guerrero.908 LinkedIn: LinkedIn.com/in/Rick-Guerrero-2892a743 Twitter: Twitter.com/RickGuerreroJr Rick Guerrero is Director of Branch Sales at US Mortgage Corporation. He is well-known by everyone, and has an extremely strong social media presence.

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FRANK GARAY & BRIAN STEVENS Business Facebook: Facebook.com/FrankAndBrian On July 2, 2018, Frank Garay and Brian Stevens celebrated 11 years of mortgage industry commentary on their daily video blog—The National Real Estate Post that has nearly 200,000 mortgage and real estate subscribers.

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ANDRES J. MUNAR Business Facebook: Facebook.com/KeystoneTeamCentralPABranch LinkedIn: LinkedIn.com/in/AMunar YouTube: YouTube.com/user/MeganMarsh Instagram: Instagram.com/Mr.Munar Other: MovementPA.com Andres J. Munar loves putting others before himself. He is an Inc. 500 Recognized Mortgage Professional and Market Leader at Movement Mortgage. Andres has continued to be a multimillion dollar producer since 2006 and continues to produce excellent results. He was also named as one of Top 40 Most Influential Mortgage Professionals by National Mortgage Professional Magazine in 2017.

SHASHANK SHEKHAR Business Facebook: Facebook.com/ArcusLending Twitter: Twitter.com/ShashankTweets YouTube: YouTube.com/ArcusLending Blog: MortgageBlog.com Shashank Shekhar uses Twitter to connect with media persons, LinkedIn to influence business contacts and Facebook to forge a deeper relationship with his clients and referral partners. With his top-rated mortgage blog and Social Media savviness, he has built one of the most powerful brands in the industry.

ADAM P. SMITH Business Facebook: Facebook.com/ColoradoRealEstateFinanceGroup LinkedIn: LinkedIn.com/in/TheAdamPSmith SAM PARKER Twitter: Twitter.com/AdamPSmith1 Business Facebook: Facebook.com/MyCreditGuy YouTube: YouTube.com/user/TheAdamPSmith LinkedIn: LinkedIn.com/in/Sam-Parker-98453a6 Blog: CoreFinanceGroup.com/Blog YouTube: YouTube.com/Channel/UC63iGq9zi551jZDgDOccGSg Instagram: Instagram.com/AwesomeMortgageGuy/?hl=en Blog: MyCreditGuy.com/Blog Adam P. Smith is so outstanding at making personal Sam Parker, Co-Founder and CEO of My Credit Guy, has connections with everyone he meets, that he actually knows a created a system that most lenders recognize as being one of little something about all 5,000 of his Facebook Friends. He the best credit repair options available to the industry. My Credit stays top-of-mind through various check-ins, blogs, videos, Guy focuses on results and ethics, two things the industry contests and sharing what goes on in his own life. seems to have forgotten.

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KATY PARSONS Business Facebook: Facebook.com/Katy.Parsons.14 LinkedIn: LinkedIn.com/in/Katy-Parsons-85111a61 Instagram: Instagram.com/KatyParsons Katy Parsons helped revive and lead Mortgage Revolution, the only non-profit event that offers strategies and industry tools for Loan Originators to succeed in today’s market that gives all their profit to charity! She’s a wizard with Facebook and utilizes social media to keep herself top of mind.

RAJIN RAMDEHOLL Business Facebook: Facebook.com/Rajin.Ramdeholl.1 LinkedIn: LinkedIn.com/in/Rajin-Ramdeholl-9a95722a Twitter: Twitter.com/Rajin_R Blog: RajinR.com/Blog Instagram: Instagram.com/RajinRamdehollMTG Rajin Ramdeholl is a powerful networker because of his canny ability to not only network, but to put the right people in front of the perfect crowd that allows them to grow. As a social media guru he uses it to influence the industry, build and expand his business.

CARLY ANNE SALTZMAN Facebook: Facebook.com/CSaltzy Business Facebook: Facebook.com/YourHomeLoanGal LinkedIn: LinkedIn.com/in/Carly-Saltzman-93877a31 Twitter: Twitter.com/NotCarlySimon Instagram: Instagram.com/CSaltzy Carly Anne Saltzman is a powerful networker and influencer because, in her young age, she has been elected to her local association boards, and has made meaningful connections with clients, referral partners and industry leaders via effective use of social media.

THOMAS SMITH Business Facebook: Facebook.com/MortgagesAndBS LinkedIn: Linkedin.com/in/Thomas-Tom%E2%80%8B-Smith-612-3867672-251b6aa Twitter: Twitter.com/omsiguy Thomas Smith has a strong reach with social media and with is background and experience is highly regarded in the marketplace by his peers, as well as the real estate community.

DAVID H. STEVENS Twitter: Twitter.com/DavidHStevens LinkedIn: Linkedin.com/in/DHStevens David H. Stevens has led in every facet and aspect of this dynamic industry, from loan officer to FHA Commissioner, to the head of the only trade association to represent the entire industry, the Mortgage Bankers Association (MBA).

JOHN G. STEVENS Business Facebook: Facebook.com/JohnGStevensUtah LinkedIn: Linkedin.com/in/JohnGlenStevens Twitter: Twitter.com/JohnGlenStevens YouTube: YouTube.com/channel/UCZRVeBfo7aKAz2BjIV7O_Fw Blog: JohnGStevens.com Instagram: Instagram.com/JohnGStevens With a profile that’s recognized as one of the top three percent most viewed profiles in the world on LinkedIn, NAMB President John G. Stevens is known for his expert knowledge of #SocialMedia, marketing and #PersonalBranding. Because of his experience, passion and dynamic energy, John is privileged to be a keynote speaker at industry events. ED STOJANCEVICH Business Facebook: Facebook.com/TheRockstarCloser LinkedIn: LinkedIn.com/in/EdStojancevich Twitter: Twitter.com/HomeFinanceNWI Blog: HomeTips.Blog Instagram: Instagram.com/RockstarCloser Ed Stojancevich, Branch Manager of CME Lending Group, consistently steps up his game and teaches other industry professionals to utilize social media to grow their business.

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JON TALLINGER Business Facebook: Facebook.com/ClassAppraisal LinkedIn: LinkedIn.com/in/Jonathan-Tallinger-70624b2 Twitter: Twitter.com/ClassAppraisal YouTube: YouTube.com/channel/UCYFi92dY_FsZIux32TglGFw?view_as=subscriber Instagram: Instagram.com/ClassAppraisal Jon Tallinger is a powerhouse when it comes to networking. He is someone who’s one degree of separation from everyone in the mortgage industry. He uses his network to grow business and to help connect mortgage professionals with opportunities to grow and prosper with new companies.

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CARL WHITE Business Facebook: Facebook.com/MortgageMarketingAnimals LinkedIn: LinkedIn.com/in/MarketingAnimals Carl White has the largest Facebook Business Page for Loan Officers in all of Facebook (35,528 Fans). Carl also has the most followers on LinkedIn of anybody in the mortgage industry with 14,228, and the number one Podcast for Loan Officers (approximately 50,000 views per episode) at LoanOfficerFreedom.com, all the while running a very successful mortgage branch. MARK WILKINS Business Facebook: Facebook.com/TheMortgageMarkWilkins LinkedIn: LinkedIn.com/in/TheMortgageMark Twitter: Twitter.com/TheMortgageMark Instagram: Instagram.com/TheMortgageMark Mark Wilkins of Movement Mortgage is very active on social media and is an important role in his office marketing plan.

GEOFF ZIMPFER Business Facebook: Facebook.com/MortgageMarketingInstitute LinkedIn: LinkedIn.com/in/GeoffZimpfer Twitter: Twitter.com/MMIContent YouTube: YouTube.com/user/GZimpfer1 Blog: MortgageMarketingInstitute.com Instagram: Instagram.com/MortgageMarketing Geoff Zimpfer is the host of Mortgage Marketing Radio, the highly rated, longest-running podcast for Mortgage Loan Originators who want to get more referrals, grow their business and make more money. With more than 60,000 downloads, Geoff is helping thousands of Mortgage Loan Originators achieve success in today’s market.

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JOE WELU Business Facebook: Facebook.com/TotalExpertInc LinkedIn: LinkedIn.com/in/Joe-Welu-4056726 Twitter: Twitter.com/JoeWelu YouTube: YouTube.com/User/TotalExpert Blog: Blog.TotalExpert.com Instagram: Instagram.com/JoeWelu Joe Welu is a networking machine who cultivates relationships daily at conferences, in boardrooms and on social media. With one finger permanently attached to the industry’s pulse, Joe has spearheaded Total Expert’s meteoric rise as a marketing technology pioneer while becoming one of the most memorable personalities in lending today.

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JOHN R. THOMAS Business Facebook: Facebook.com/PrimaryResidentialMortgageDE LinkedIn: LinkedIn.com/in/DelawareMortgages Twitter: Twitter.com/DEMortgages YouTube: YouTube.com/channel/UCa3Dr0s4kbMwIGRGfRBxmDg Blog: DelawareMortgageLoans.net Instagram: Instagram.com/JohnThomasTeam John R. Thomas has more than 3,800 Facebook Friends. His JOE WILSON YouTube Channel features more than 500 videos and 338 subscribers. He has been interviewed by Dave Savage and taught Business Facebook: Facebook.com/SimpleNexus LinkedIn: LinkedIn.com/in/JoeWilson5 at Mortgage Revolution in June 2018. Twitter: Twitter.com/SimpleNexus YouTube: YouTube.com/channel/UC4t_ZPIFMQq0Ulw6eBHgljA Instagram: Instagram.com/SimpleNexusApp Joe Wilson’s secret to success has been to promote others and COREY TESS TRUJILLO have fun. He highlights the unique and exciting things that Business Facebook: Facebook.com/CoreyTessTrujillo happen with lenders of all sizes, all the while finding humor in the LinkedIn: LinkedIn.com/in/CoreyTess “every day.” SimpleNexus also has a load of fun t-shirts that Twitter: Twitter.com/CinemaScribe garner a lot of attention. YouTube: YouTube.com/user/CoreyTess Blog: SynergyMaven.com/Blog Instagram: Instagram.com/CoreyTess ANTHONY VANDYKE Corey Tess Trujillo has been in the mortgage and real estate Facebook: Facebook.com/Anthony.VanDyke.77 marketing space for 15 years. She is a known social media speaker and marketing leader in the finance space. Described as Business Facebook: Facebook.com/AnthonyVanDykeMortgage LinkedIn: LinkedIn.com/in/AnthonyVanDykeMortgage a “Needle-Mover” and a “Creative Powerhouse” for companies Blog: AlvMortgage.com/Blog looking to solidify their brand, her expertise allows companies to Instagram: Instagram.com/AlvMortgage grow more efficiently. She is passionate about creativity in social Anthony VanDyke is a problem-solver who believes that a media and the endless possibilities of embracing change as a pathway to Mortgage Broker is the best place for a consumer to get a loan. securing success, well into the future. Corey has been an early adopter of He tailors loans to fit exact needs and helps figure out what leading-edge tech, social marketing, and new media from the outset of her those needs are. Sometimes you don’t know what you don’t career and remains an advocate for bold innovation in the art of marketing, know, and that can be scary. event management and branding.

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How to Recommend Your Competition and Still Close More Loans By Brian Sacks

This Realtor now loves me and he should When you are viewed as an industry expert and resource, you will always be able to generate

Ever hear the expression pigs choke and hogs get slaughtered? What I am about to tell you will seem strange on the surface. For those of you who know me, you know I am a black and white person … no gray even exists in my mind. When you do the right thing it comes back to you. When you do the wrong things, they come back to you as well. But the conversation needs to go even deeper than that because you either have prosperity thinking or scarcity thinking. Which one are you? Stop and be honest with yourself Someone who has scarcity thinking would never recommend a competitor to a client or an agent, but someone who has prosperous thinking would. Here’s my view on this. If there are 200 deals done each month in the three counties I cover, well I only need 20 of them. My competition can divide the other 180. There are other ways to give back and get new deals as well Why not get active in local charities that have causes you believe in. When you do get active, you will gain exposure to others who are also active. I have met many of my top agents, financial planners and clients through my involvement in doing good. Please don’t do this simply as a means to network. You must be active in something you truly

believe in. You can also take this one step further and actually donate to the charity for every member that uses your services. I actually make it a point of contributing to different charities on a rotational basis based on the number of deals I close each month. This gives you a great chance to do something good, while at the same time, getting some great free PR for you and your brand. Let’s get back to your competition for a minute Two or three times a year, I have breakfast with my competition. HUH? Yes, you read it correctly. First, I view them as peers and friends and not competition because I have prosperity thinking, not scarcity thinking. But this meeting accomplishes a number of important functions. First, we all get an update on any new programs or products coming into the marketplace. These competitors work for banks, credit unions, brokers and bankers. Second, we get to catch up with each other and mastermind about what’s working and what challenges we face and

how we are dealing with them. Try this for yourself … l First … take stock of your thought process. Is it prosperous or scarcity thinking and fix it. l Second … get active in a charity and start doing some good. l Third … find out who your competition is and set up your own quarterly lunch or breakfast meeting. l Fourth … be a resource to all who contact you. By the way, that agent and their client did find a home and settle. The agent has since told several other agents in their office about what I did and they have referred clients to me. Finally, the person I referred them to was not someone I knew very well, but they are now part of my “Breakfast Club.” It turns out that the credit guidelines are pretty high for this particular grant program and they are only able to settle about 40 percent of the people who apply for this grant. Guess who will be getting the referrals for the other 60 percent they cannot help?

Brian Sacks is a nationally-renowned mortgage expert who has career closing of more than 5,924 transactions for more than $1 billion. He has trained, consulted and coached tens of thousands of loan officers and company owners over the past 32 years on how to close more loans, make more money, and still have a life. Brian is the host of "Top Originator Secrets," which can be seen weekly on Mortgage News Network and on his blog. For your free four-part video series on “How to Finally Close More Loans, Make More Money and Have the Time to Enjoy Life,” visit TopOriginatorMastermind.com/MMM, and learn more about the Top Originator Mastermind at TopOriginatorMastermind.com.

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Would you refer a loan to your competition? The other company simply told them to go rent, while I am now perceived by this agent as a resource, honest, and a deal saver. See, the truth is that there are very few companies that offer everything. Those that do may not really do a great job with certain products or programs.

new prospects and deals. Try to be up on all of the available programs offered, even if you don’t offer them all.

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know this will sound strange to you and is probably not the best way to start an article but here goes: Are you selfish or generous? Do you have scarcity thinking or do you think prosperously? Let me tell you about a situation that happened to me recently. A buyer called me who was referred to me by one of the top agents I work with. I went through the qualification process with them and found out that they really didn’t fit into any of the programs we currently offered. They told me that they had already spoken with another lender a friend recommended and that they did not qualify for any grant assistance or other program types. He then suggested that they search for a rental instead. After learning what their situation was, I told them that there was in fact a program available to them, but unfortunately, we did not offer that particular grant program.

a special focus on SOCIAL MEDIA a special focus on SOCIAL MEDIA a special focus on SOC

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One or two could miss the mark, but not when they number in the thousands

By Rick Arvielo

ocial reviews or socialmonials—they are the online equivalent of testimonials that ripple far and wide across the social media spectrum. They have become the lingua franca for how people communicate. Indeed, they engender more trust than ads or disinterested third-party articles or reports. When submitted freely, honestly and without manipulation, they have the wonderful and powerful ability to shape our decisions on which companies and organizations we want to do business with. In effect, they can help us solve real problems and enrich our lives. Accordingly, as a leading mortgage lender, we would be remiss if weren’t trying to use and lever this powerful reputation management tool to the fullest extent possible for the benefit of our customers, Loan Originators and the continued growth and success of our company. Certainly, we saw this digital form of communication as a vital way for our company to help our Loan Originators deepen their relationships and build trust with the customers and communities they served. Once we were all-in, we continued to get more excited about the new digital path we were headed down. We saw opportunity and momentum everywhere. Our Loan Originators would be able to generate more business based on their favorable reviews. In turn, our company also would appear higher in Google search results. Even when the feedback wasn’t positive, we saw customer reviews as a way to address what was wrong and to continue improving as a company, which is one of our company’s core values.

Implementation We have always encouraged feedback, but we felt that by adopting and systematizing a comprehensive, company-wide customer review strategy, we would be able to unleash the full potential of this positive social media phenomenon. For our Loan Originators, we believed they would see the largest initial benefit. While they are well aware of the power of social media, they are still lenders first, not marketers. Consequently, in the past, when they got super busy, they didn’t always have the time to post to the numerous sites that an active social media program entails. In response, we became intensely focused on finding a system or building one ourselves that automatically solicited, collected and distributed customer reviews for them. We didn’t want to give them just a voice, we wanted to put a system in place that would help amplify their voice by making it more consistent and reliable. We had other pre-requisites as well. This system had to be extremely easy and simple for their customers to use. Additionally, we wanted the reviews to populate automatically on the biggest platforms like Facebook, Twitter and LinkedIn. It pretty much had to be “a set-itand-forget-it” platform, so our LOs could continue to put their full focus on directly serving their customers. After a great deal of research and study, we selected Social Survey as our provider, and we haven’t looked back. Customers love it because it offers a star classification system that they’re already very familiar with when reviewing restaurants, hotels, films and other enterprises whose success is so dependent on word-of-mouth. Besides the reviews automatically

posting to Facebook, Twitter and LinkedIn, the system also allows the customer reviews to be posted on Zillow, further expanding an LO’s social outreach. Social Survey also boasts powerful reporting features. From their dashboard, our Loan Officers can view how many reviews they’ve generated and their overall Social Survey score, and how their ranking compares with those in the office and throughout the company. They can even view how they rank among all Social Survey users, not just those at New American Funding. This leaderboard aspect creates a friendly competition for driving positive employee behavior. Loan Originators, who are largely competitive A-type personalities to begin with, want to boost their ranking in relation to their peers, and the best way to do that, of course, is to improve their performance so they can generate more positive reviews. It’s a virtuous cycle. From a company standpoint, we naturally benefit because our LOs are constantly motivated to find ways to provide a higher level of customer service. And like our LOs, who share their reviews on their own Social Survey page, we post them on our company site as well, which we call Reviews for You. They also are posted to each branch site. With each posted review, we’re creating more social media momentum, further elevating us in search rankings. Since moving to Social Survey’s platform, I believe we’ve generated 35,000 customer reviews. That’s clear and away, the leading total for our industry. It translates to about a 60 percent response rate, which is also unheard of. continued on page 54

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for proof of performance, read the reviews

Although we rarely see negative reviews, we donâ&#x20AC;&#x2122;t try to hide or bury them when we receive them. Rather, we address them head on. After reaching out to the appropriate Loan Officer and their Branch Manager to research the genesis of the complaint, we get on the phone with the customer and work toward resolving the issue. By having a complaint resolution system in place, weâ&#x20AC;&#x2122;ve clearly become a more responsive and customer-first company. Although you never like to see even one negative review, you know that when you do, itâ&#x20AC;&#x2122;s an opportunity to improve another aspect of your customer service. After all, customers are New American Fundingâ&#x20AC;&#x2122;s â&#x20AC;&#x153;North Star.â&#x20AC;? They are the reason our company exists and thrives, so weâ&#x20AC;&#x2122;re going to do everything in our power to keep improving their experiences with our company. By investing so heavily in our customer reviewsâ&#x20AC;&#x201D;a cost that we

absorb on behalf of our LOsâ&#x20AC;&#x201D;we are really putting ourselves out there with the public. But this speaks to who we are as a company. We want to add more transparency to every aspect of the loan process. Mortgages, from a laymanâ&#x20AC;&#x2122;s view, are not easy to understand. There are literally scores of programs and overlays and rules, regulations and eligibility requirements that can confuse even the savviest consumer, so thatâ&#x20AC;&#x2122;s why I think customers increasingly put so much reliance on what their fellow consumers have to say. Customer reviews provide a short-cut or at least a starting point for customers searching for a responsible and reputable mortgage lender. In turn, knowing how many places one review can be posted and how long they can exist in the social media firmament is a great motivator for our Loan Originators to always provide their highest level of service. With every deal, their reputation is online, and

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continued from page 52

â&#x20AC;&#x153;â&#x20AC;Ś customers are New American Fundingâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;North Star.â&#x20AC;&#x2122; They are the reason our company exists and thrives, so weâ&#x20AC;&#x2122;re going to do everything in our power to keep improving their experiences with our company.â&#x20AC;?

on the line, and in the long run, thatâ&#x20AC;&#x2122;s going to translate into improved customer service and more business for them. Everybody loves feedback. At a time, when so many people have tuned out traditional forms of advertising, it can provide a good measure of where you stand as a company. It can tell what youâ&#x20AC;&#x2122;re doing right and what youâ&#x20AC;&#x2122;re doing wrongâ&#x20AC;&#x201D;and if youâ&#x20AC;&#x2122;re listening and being honest with yourself, you can grow from that. From our standpoint, we also think customer reviews provide our customers with an unfiltered view of who we are as a company. Instead of trying to hide things from consumers, weâ&#x20AC;&#x2122;re putting it all out there for them to see. Because the reviews now number in the

thousands, we think they provide an honest benchmark for helping consumers reach an informed decision about who they want to select as their mortgage provider. If your company is not effectively integrating reviews and ratings into your overall social media strategy, then youâ&#x20AC;&#x2122;re failing to provide your company and your employees an important gauge for growing and improving their business. Worse, youâ&#x20AC;&#x2122;re robbing your customers and potential customers of the trust and transparency they want to see in their mortgage lender. In a digital world where now 90 percent of consumers consult online reviews before visiting a business, you donâ&#x20AC;&#x2122;t want to be in that 10 percent!

Rick Arvielo is Chief Executive Officer at New American Funding. Rickâ&#x20AC;&#x2122;s proven formula of marrying marketing and proprietary technology to grow businesses from the ground up has led to the growing success of New American Funding. Rick leads approximately 160 branches and approximately 2,800 employees with the goal of providing unparalleled service and mortgages at competitive rates, helping individuals fulfill the American dream of owning a home.

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Social Media: The Cornerstone to Your Marketing Foundation

By John Bentley

ocial media has become a key component of any business marketing strategy and cannot be ignored as a means to promote and grow a company. Those in the mortgage industry might wonder why anyone would follow a mortgage company. The fact is that borrowers want to understand lending options. Mortgage professionals want to impart information that leads to good life choices for their clients. This makes them a valuable go-to resource that someone would want to follow on Facebook, LinkedIn or Instagram. It is pertinent to utilize social media channels to network, collaborate and share relevant, diverse content quickly. Social media requires a strategy, excellent consistently posted content, and planning in order to achieve successful results and maintain an engaged audience. Before sharing tips on best practices for a well-executed social media marketing plan, it is good to know why the effort is worth it. Top originators know to market where prospects live. Prospects now live in the social media world. Pew Research Center’s latest study on Social Media Use in 2018 reports that 68 percent of all adult users across a wide range of demographics are on Facebook and 35 percent on Instagram. LinkedIn is mostly used by college graduates and those in high-income households with 50 percent of this demographic viewing. This information should be enough to motivate anyone in the mortgage industry to maintain a social media campaign to keep pipelines full. It can be a struggle for a mortgage company to determine how to use social media to grow business in a challenging market. It is crucial to understand how to use it, engage your audience, and

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““Most social networks are appropriate for almost any industry and message, but it is important to understand the business model.”

drive traffic to your Web site. Steven Winokur, Chief Marketing Officer at Angel Oak Companies, has seen the impact of a strong social media plan. “Incorporating social media into your marketing is a costeffective way to reach a large audience,” said Winokur. “It has made it easier to establish rapport with brokers and potential borrowers. Angel Oak has experienced a tremendous amount of growth in a declining market. Brokers want information on how we have done this and how we can help them thrive. Social media helps us impart this information quickly and keeps our audience engaged.” Building blocks Most social networks are appropriate for almost any industry and message, but it is important to understand the

business model. The lighthearted content shared on Facebook requires edits to conform with the more professional environment of LinkedIn. Understanding what each network does and providing a customized message can better resonate with your audience increasing your chances of adding followers. Consistency with posting is also very important so that your audience is accustomed to seeing your message and then anticipating your next post. Strictly posting product information or “contact me” sales messages becomes boring and always has the perception of just being another advertisement. Brokers and borrowers want help and not a sales pitch. This helps raise your brands authority and trust in the market. Add in good news, industry updates, how

your products are helpful to borrowers unique circumstances, staff introductions, and celebrations and you have more of a story to build through social media. The objective should be to get your audience to see you as a go-to expert. Minding etiquette will keep viewers from unsubscribing. Avoid hard sell messages, do not overload readers with too much information or hashtags, and make sure links are relevant and active. Content is king and the key to a successful campaign, but there is work and planning to be done beforehand. The backbone of a truly successful social media campaign includes strategy and it is important to setup an analytical infrastructure across the platforms where you want to advertise. Facebook and LinkedIn have pretty sophisticated analytical reporting channels that integrate with Google Analytics, and can provide extremely detailed information about your social followers, as well as your website users. Once you start to understand the demographic of users who are engaging with your Web site, ads and posts, you can customize the focus of your messaging to keep driving new leads. Measuring success comes down to building your audience through reach and motivating your audience to interact with your content. Conversion is the most important measurement of all. Social media content should always link back to your Web site. Conversion metrics you should track include registration for downloads and online form completions. Conversation into leads While driving conversation and engagement is obviously important when creating social media posts, it is also critical to have a defined goal with each post you share. Providing relevant and interesting

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content, along with an attractive branded image, should get people’s attention. Posting relevant articles, industry updates along with products that are tailored to certain circumstances makes it easy for someone not sure how to proceed with a borrower who may not qualify for traditional financing for instance. It is also crucial that you provide a link to your Web site with a clear “Call to Action” that will ultimately help you generate more leads. When posting about how great and unique your mortgage programs are, give people a “More Information” prompt that links to a webpage with more details. Once they click through to your Web site, provide an easy way for the potential client to speak with a representative at your company, or leave their contact information.

than a minute short. Before investing in video marketing campaigns, try shooting a few “home movies” with a smart phone and see how your audiences react. Social channels provide analytical statistics on how many people click your video, how long they view it, and whether they take any action after watching. Before hiring a video production company to conduct professional, in-studio interviews with your company’s

executive team, conduct a few interviews of your own, post them, and see if anyone watches them. Social media platforms roll out new advertising features all the time (like video). Some are going to work for your business, and some will not. In almost every case, there are ways to test the potential effectiveness of a new advertising feature using a ‘do it continued on page 58

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Getting started Just dive in there! Spend a day figuring out the messaging you want to use for your profiles. You want your social pages to be similar in messaging and branding to your Web site, but not exactly the same. Equally important to consider is the differences between Facebook, LinkedIn and Twitter. They are all different platforms that people use for different information. Make sure not to say the exact same things on all three platforms, because a lot of your customers and business contacts might end up following all of your pages. Do not constantly hit them with the same post on every platform. Google will index online activities. This is important to understand when you consider how to increase search engine results page rankings and reach new audiences. Participating on a regular basis will allow presence on that platform and the key words attached to it will rise to the top of any relative Google search. Having a presence on multiple social media platforms will help your customers find you in Google search results for key terms. Millennials will likely do their own research before connecting to an expert so help them find you more readily through Google search. Millennials now have the power of the purse in the market for housing making them a valuable demographic target.

Video Video advertising is a relatively new tool on social media platforms. Corporate videos can help give your company a voice and can help build trust with your audience. They can teach, share a success story or give tips. However, you can also waste a lot of money on video marketing series that no one cares about. You can also make the mistake of making them too long. Keep them short as in less

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social media: the cornerstone to your marketing foundation

yourselfâ&#x20AC;&#x2122; platform that will either be free or cheaper than hiring an agency. The real key to being an effective marketer on social media is to keep testing things until you find a sweet spot. Launch a campaign, analyze your results, tweak your strategy, and try again. You might have 10 campaigns that no one responds to before you finally crack the code and start generating new leads. Facebook, LinkedIn and Twitter have endless amounts of data on all of your potential clients, as well as high-powered algorithms designed to track your clients and convert them into leads. The key is pointing the algorithms in the right direction. Once you find something that works, hammer it until you wear it out. Mortgage industry compliance and social media can play nicely Compliance should be common

sense. Do not post things that are offensive. Do not be predatory, and do not promise things you cannot deliver. There are also specific social media governance and compliance challenges for the mortgage industry with every state you must follow. All mortgage companies must adhere to the strict compliance and monitoring requirements by the Federal Financial Institutions Examination Council that went into effect December 2013. These guidelines not only protect the consumer, but also reduce mortgage companiesâ&#x20AC;&#x2122; risks to fraudulent brand activity on the Web. This should not be a problem for those companies with sound compliance and monitoring procedures.

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advertising plans. Trade shows, meetings, traditional advertising and expertise all work together. Social media transforms marketing efforts, expands your network and helps your company engage in new ways. It will increase leads in your pipeline, drive traffic to areas you want to

Social media is a great thing, but is not every thing Social media is an excellent enhancement that can further optimize your marketing and

promote thereby increasing business opportunities from a variety of audiences. Taking your time with it, getting to know what your audience wants and posting relevant content builds a robust social media platform. Nurture it and you will see your reputation as a mortgage expert grow.

John Bentley is Digital Marketing Manager for Angel Oak Companies. He graduated from Auburn University with a degree in business administration. He is a dedicated War Eagle fan and his hobbies include golf, listening to classical music and true crime podcasts on road trips. He has had a successful career in digital marketing career working with start-up companies prior to joining Angel Oak.

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Social Media Strategies for the Mortgage Industry By Frank St. John

e in the mortgage industry know that it is very likely that the biggest personal investment decision an individual makes is with respect to buying a home. While mortgages has always been a very important decision, social media channels such as LinkedIn, Facebook or Instagram are now the major influencers of purchase decisions across industries. An active social media presence builds trust by giving potential borrowers some insight into the culture, values and identity of the organization they are going to for this tremendous decision. As these avenues now control the way homes are sold or loans are availed, mortgage professionals need to have an astute social media strategy to

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build customer relationships. The power of this platform is clearly evident from the statistics of the 2018 Global Digital Report: l Every year there is a seven percent increase worldwide in terms of Internet users l Annually, a 13 percent increase is seen in the number of social media users l Currently, three billion people use social media across the globe l Facebook has close to two billion active users while 1.3 billion people use YouTube, and Instagram has 800 million users To leverage these statistics, the mortgage industry has to focus on developing a social media content strategy that helps in forging new connections, while strengthening existing ones. The right strategy helps mortgage professionals:

l Gain an online presence l Create awareness of brand or company and raise visibility l Initiate and build connections with prospective buyers, referrals, and borrowers l Share educational and relevant information for people looking for thesex l Build referrals l Share internal news of the company or loan products l Build trust for your brand or services l Gain an advantage over competitors l Post or seek customer testimonials l Share client closing news, visuals and so on Mortgage professionals can leverage the power of social media better when they use it as a platform to build and foster social connections with customers, rather than as a direct tool for sales. In this context, the crucial aspect to consider relates to how the users interact on social media with brands or advertisements. Knowing what kind of posts or behavior on social media platforms resonate well with the audiences is key to designing the right strategy instead of going overboard with hard-sell. Avoiding the hard-sell and irritating content The way a certain message is delivered reflects on the brand personality, values and culture that, in turn, influence users to follow, unfollow, buy or recommend. This platform is used increasingly for customer service where customers expect to be engaged meaningfully with realtime responses. The Global Digital surveyed participants on the brand actions that were most likely to result in a purchase and found 48 percent of users rate “being responsive” as the most preferable brand action. At 46 percent “educational content” and promotional content at 42 percent came next in the list of preferred brand actions. The other actions users prefer include the use of humor, stories of “behind the scenes,” exclusive

content and great visuals. Trash talking about competitors scored the least in this survey. Close to 51 percent of social media users said they are likely to “unfollow” a brand and 27 percent were likely to report, block or flag the post as spam if the posts or advertisements were irritating. Posting interesting, relevant, and engaging messages that resonate with the social media users and target audience is key to building a relationship with potential customers. As per another study, 71 percent of consumers are highly likely to recommend a brand or a service to someone else if their experience with the brand is good. It is also interesting to note that while more than 50 million small to medium businesses advertise on Facebook, none of the hard-sell ads generated any emotional responses. Today’s customers are able to distinguish between a personal recommendation, an advertisement disguised as a recommendation, and an ad. Millenials, in particular, tend to shun anything that looks like a hardcore sales pitch. While in traditional hard-sell, the advertiser controls the content, influencer marketing is dependent on usergenerated content. Sustainability of influencer marketing is dependent on the credibility and authenticity of the user-controlled content. Experts believe social media content strategy should be based on the 80/20 rule, where 80 percent of the content is not about the brand. Building connections While earlier, realtors-provided referrals were the mainstay of getting new leads, social media posts where every closing is with tags of referrals, buyers, agents and business pages can help spread the good word in a friendly way. While the initial connection is a necessary first step, the mortgage professionals will need to build on these connections by connecting at a personal level with the potential customers. Homebuyers or realtors are more likely to do business or trust a person who they relate to. Some Loan Officers seek to remind customers that they are not only mortgage professionals, but are individuals as well by showcasing a few of their personal aspects such as favorite color, cat’s name, family and so on. One mortgage professional believes the best strategy is to keep 65 percent

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of the social media content personal while 35 percent of the posts remind the user of the professional side of the business. This strategy ensures that the mortgage professional is not spamming people by talking about mortgages all the time which can be annoying. Some professionals also emphasize social media can be the best option to stay connected with past customers to let them know the relationship is valued. Whether for forging new connections or building on existing ones, social media can be a great platform to build a relationship between users and mortgage professionals. By studying the social media’s personal nature, professionals can build meaningful and stronger connections with both potential and existing clients.

l One-third of the content related to business updates such as new loan products, milestones, promoted employees l One-third should relate to tips, expert insights into the industry including trends and mortgage data relevant to the target audiences

Frank St. John is Director of Marketing for Bay Shore, N.Y.-based Jet Direct Mortgage. For more information, visit JetDirectMortgage.com.

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Providing educational content Customers feel more valued and empowered when a company or brand can provide relevant insights with educational content. Industry knowledge, trends, local news related to real estate or other “how to” content can arm the user with useful information and build trust that ultimately enhances the relationship between the customer and the mortgage professional. The objective of providing

High-quality content in the ideal ratio helps mortgage professionals personalize their messages in order to nurture relationships outside of the sales cycle. The ratio can be: l One-third of the content on personal interests including news, celebrations

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Building partnerships Listening closely to all the conversations happening in the mortgage industry is helpful in designing the best responses or interactions. The right value proposition can be put forth when an opportunity presents itself. These timely responses help build a relationship that is more meaningful than merely bombarding the target audience with ads. Collaborative content in partnership with someone who has a better social media presence can help engage more potential customers. Partnerships or connections should also be built with key influencers in both B2C and B2B contexts. These critical enablers or influencers are highly valuable to the network and help in deriving relevant solutions. For instance, in a B2B situation, an effective strategy can be to initiate dialogues to explore common interest areas with a like-minded professional. The primary goal here is to establish and build trust based on a respectful and genuine communication.

meaningful educational content is to build and enhance the loyalty of customers. Mortgage professionals or companies need to develop comprehensive strategies to engage the Internet or social media users that contrast with hard-sell traditional marketing. Content that is relevant, thought-provoking, and entertaining with the right dose of humor is likely to build relationships with the brand, services or company.

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Getting Started With Social Media in the Mortgage Industry By Ben Smidt

etting started with social media in the mortgage industry can be daunting. I get it, and I understand your perspective. Having talked to thousands of Mortgage Loan Officers and Real Estate Agents over the past few years, I hear a lot of the same things. You clearly see the value in social media, but you’re not clear on the best way of getting started with social media in your industry. Below are some of the easiest and best social media tips I have on how you can use social media to increase your business growth, in a simple, efficient way across Twitter, Facebook and LinkedIn. Before you decide to post or take action, check out your company’s social media policy and consider social media through the lens of “How can I help?” or “How can I provide value without selling?” This is what social media is about, whether you gain business from it or not. Never talk about the HotButton Issues of money, politics and religion. If we all avoid these topics, we could all be friends. The goal of social media is to build relationships, not destroy them.

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“I have found the best way to leverage Twitter in the mortgage industry is to use it as a listening tool. By doing so, the Mortgage Loan Officer takes compliance concerns out of the picture completely.”

finger on the pulse with industry news outlets, current customers, referral partners and prospects you hope to win more business from. Twitter I approach this concept with the Getting started with social media simple idea of using Twitter in the mortgage industry is notifications. A Twitter notification challenging, so let’s start with one enables a Twitter user to be of the harder platforms for notified on any device when mortgage loan officers to grasp– someone they follow (and have Twitter. One thing I discovered notifications turned on for) tweets. early on in my digital marketing Let’s unpack this idea. Twitter career at MGIC is the financial built its brand on being the first to services industry was much less know. If you, as a Mortgage Loan likely to use Twitter, and more Officer, are the first to know an important, there was concern industry change or something that about the regulatory risks of may affect a current mortgage “saying the wrong thing.” customer or referral partner, you As a result, I have found the are the first to take action and best way to leverage Twitter in capitalize on the change. Think the mortgage industry is to use it about the value proposition in as a listening tool. By doing so, monitoring news outlets on the Mortgage Loan Officer takes Twitter. Their breaking news alerts compliance concerns out of the are almost always pushed to picture completely. More Twitter first. This helps you keep important, as a Loan Officer you your finger on the pulse. The same have the ability to keep your is true for current customers or

referral partners you choose to follow and place on notifiers. By doing so, you may discover it’s someone’s birthday or wedding anniversary. What a great opportunity to send flowers or a note. That personal touch and staying top-of-mind is how you get more referral business from those individuals. Pro Tip: Keep the number of people, companies, brands you have on notifiers to a reasonable amount. Depending on their tweeting frequency, you may get inundated with notifications. Good news, though, it’s just as easy to turn them off as it is to turn them on. Facebook For all the talk of Facebook having lost its appeal with key demographics like Millennials, you still cannot ignore the fact that 2.2 billion people are actively using the platform every month. Let’s explore what you can do right

now when getting started with social media in the mortgage industry on Facebook to help you drive digital word of mouth (DWM) with current customers and referral partners in the mortgage industry. When Mortgage Loan Officers ask me what they should consider posting or what activity they should be doing on Facebook, I start by asking them what they are doing right now, face-to-face with referral partners. If you’re looking for content to post on social media, start with what you’re already doing and simply move it to a social platform, like Facebook. Take those activities and transition them to the social space to help expand your digital footprint across social media. Here are my three favorite ways to leverage Facebook for business as a Mortgage Loan Officer when you are getting started with social media in the mortgage industry. 1. Lunch and Learns: If you are a savvy Loan Officer, you’re already doing lunch and learns with your referral partners. But why not complement the live event with a social (Facebook) component? Snap a few photos of the event, post to your Facebook Business Page, tag your pictures with all the people who attended and are also on Facebook and mention the location of the event. Right away you have several people interested in the success of your Facebook post because you mentioned your location and tagged the people you’re with. They’re now all more likely to engage (Like, Comment, Share) with your post. This will help increase your visibility organically across the Facebook platform. 2. Listings: If you have established real estate referral partners you work closely with, why not post one of their listings on your Facebook Business Page? I recommend one new listing from a different real estate referral partner once a month (spread the love around). We are a visually-

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oriented culture. We love pictures … they are a universal language. By supporting your real estate referral partners with a simple post like this on Facebook, you’re helping to spread the word across the social space. It helps a broader audience discover a potential home. And in return, I’m sure those same referral partners wouldn’t mind posting about your services to their respective audiences on their Facebook Page. 3. Closings: This is my favorite tip for Mortgage Loan Officers who want an easy way to expand their visibility with warm leads. Next time you go to a closing of a really great customer, before you snap the classic picture of the happy homeowner on your camera, stop and ask them to use their camera for the photo. Why? Because then you can suggest when they post it out to their friends and families, they tag you in the post. Anyone on Facebook knows the posts that get the most amount of engagement are the posts about getting married, having a baby and buying a house. This is free advertising to all the homeowners’ friends and families.

1. Headshot/Headline/Background Image: First impressions matter. If a

potential borrower who has only communicated with you by phone looks you up on LinkedIn to evaluate you, what first impression as a business professional will you give? A nice business headshot helps to establish a positive first impression. Additionally, the headline is one of four areas in your LinkedIn profile that is weighted higher in search. continued on page 64

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LinkedIn There’s a misunderstanding out there that you don’t need to care about LinkedIn when you’re getting started with social media in the mortgage industry. That’s just not true. LinkedIn is a huge opportunity to grow your business. I call it your “Modern Day Business Card” for a reason. In fact, I don’t carry business cards anymore and instead connect with prospects and

strong. There are some quick-hit areas of your LinkedIn profile you can modify to improve peoples’ perception of you and increase your visibility to a larger audience. Here are my three favorite areas of a LinkedIn profile to modify when you are getting started with social media in the mortgage industry:

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There are so many ways to leverage Facebook to help generate business. Let your imagination run wild. But focus most on what’s happening in the community you serve and what you’re already doing that could work on the social channel. Pro Tip: Create a Facebook Group about the many things to do in your community. In creating a beneficial Facebook Group that general users can find and join, you’re creating a pool of warm leads you can draw from and leverage for future business opportunities.

business partners directly on the spot. The reason is … referral business is the best way to acquire qualified sales leads. LinkedIn is the largest professional social media platform out there. One way to approach this concept is to look closely at your profile on LinkedIn. Do you know what your personal brand is? Does your LinkedIn profile reflect it? LinkedIn is the outlet to highlight who you are as a business professional, so make it

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getting started with social media in the mortgage industry

Consider using key terms to help those searching to find someone like you find you. Branding yourself in the digital space is important. Does your background image reflect what you care about in the community you serve? Are you highlighting who you work for? Consider adding an image that represents your personal brand. 2. Summary: Your Summary section is important because it sits high on your profile page. This means anyone looking to evaluate you as a professional in your industry is more likely to absorb the information you’re sharing. The Summary is also only one of two locations you can add mediarich content to your profile. Think about adding Web site links, PDFs, videos or images to reaffirm to a visitor who you are and what you bring to the table as it relates to your personal brand. Add important

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key terms you want to be found for in this section as well. It will help strengthen your profile around those terms. 3. Endorsements: Many people used to think the Endorsements/Skills section of LinkedIn was a bunch of fluff. Indeed, it was. However, LinkedIn has changed this. This area of your LinkedIn profile is now the second-highest area weighted in search. The way it shakes out is, the term or terms you choose to list and the number of times you’ve received an endorsement is how the weighting is placed. So again, think about those key terms you believe consumers or referral partners are using in search to find someone like you and include them in this section. Take it a step farther and work to have co-workers endorse you for these listed skills. These quick-hit improvements

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to your LinkedIn profile will help to increase your visibility in Google Search and LinkedIn search and help reduce doubt with those who land on your profile page, evaluating whether they want to do business with you. Your personal brand matters, and LinkedIn is a great opportunity to solidify it on a professional social media platform. Pro Tip: Organize a group outing with valued customers or referral partners to tour and taste the best of something in your community … craft beer at several breweries or the best wings, tacos, gyros, burgers ... the ideas are limitless. At the end of the day, have them vote on their favorites. It’s a great way to support your local community and build relationships with those who can send that

valuable word-of-mouth business. Leverage video to capture the fun moments and the results to share on social media. There’s no simple way to getting started with social media in the mortgage industry, but the social media tips I’ve shared with you will help build the foundation to a successful, meaningful experience on a variety of social media platforms in the mortgage industry. Remember to start small and stay focused on the social media sites you believe your customers, referral partners and prospects are using. Manage your time accordingly, try the suggestions, measure what works and then re-evaluate. You never know what’s possible with social media until you take the leap.

Ben Smidt is Digital Marketing Program Manager for Mortgage Guaranty Insurance Corporation (MGIC). He may be reached by phone at (608) 217-9260 or e-mail Ben_Smidt@MGIC.com.

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Building a Solid Social Media Presence By Adam P. Smith

ocial media is an enormous beast these days. Between Instagram, YouTube, Pinterest, Snapchat, LinkedIn, Twitter, Facebook and many others, it’s hard to know where and how to build a presence. And frankly, building a smart and savvy presence on all of them is a daunting task that likely rivals trying to accomplish world peace or finding a cure for cancer. That being said, the focus of this article is going to be on Facebook. It’s still very relevant, despite the issues Mark Zuckerberg has had with investors and stock values, advertising rules and regulations, and even the U.S. government earlier this year. I know many of

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you have written it off because of the changes that dramatically impacted lenders and Real Estate Agents. Not being able to advertise how you had in the past, because of the precautionary and prophylactic measures Facebook has taken in an effort to thwart off any fair housing violations leaves a mark, I know. But what I want you to understand is how to make Facebook work for you without spending the money. Frankly, if you want to spend money advertising on social media, look at Instagram for now. But that’s another article. And yes, I know Facebook is for old people and that I am old, but that’s my target audience. If you’re young, check out Instagram. If you’re a pup, check out Snapchat. Regardless, the principles of

what to do on social media apply across all the platforms. So, first and foremost, you need to stop looking at Facebook as being about just friends and family. You need to shift that mindset. Facebook, like any other good contact database you had better have in place, is about an audience. It’s no different than the contact database you’ve built, or I hope you have built, to have an e-mail campaign, a text campaign, or even a snail mail campaign. You wouldn’t send your postcards or flyers to just your friends and family, so don’t treat Facebook that way. Yes, I know many of you would say something like, “But I don’t want my clients and colleagues seeing what I do in my personal life and like an idiot post on Facebook.” Well, that is not only plain stupid, but’s it’s just plain stupid. The issue there is that you either aren’t being yourself with your clients and colleagues which is obviously deceptive, or you are actually doing things, and posting them on social media, that you shouldn’t be doing. Either way, knock it off. So, now that you’ve accepted the facts that one, Facebook is an audience, and that two, you’re going to stop posting your drunken shenanigans, you’ve got to build up your audience. Add friends … add all of them. Add everyone. You know those “suggestions” Facebook makes for people you should add to your audience? There’s a reason they do that for you. Take advantage of it. Since I know you’re already asking the question in the back of your mind, the answer is “Yes,” even your competitors … even the other lenders and agents in your market. If you’re of the mindset right now that there isn’t enough business to go around, and that you need to be protecting what you think are assets, you should find another job. However, if you’re really good at originating business and generating leads,

this isn’t an issue for you, so being a leader and professional in your industry should include social media. Once you get to a point where you have maxed out your Facebook audience (5,000 Friends, by the way), then you can start fine-tuning that audience and removing people so that you can add others as time goes on, but focus on building that audience first. So, now you’ve got this robust Facebook database or audience, but what are you going to do with it? What are you going to post? What are you going to share? What are you putting out there that is going to further your job of generating leads? Well, the first thing you need to do, is to make sure the information about you is on your page, is available to the public, is robust and gives people every possible opportunity and every available means to contact you when they need a mortgage or want to buy or sell a home. Nothing drives me crazier than the lender or real estate agent that doesn’t have ALL their contact information on Facebook. And I mean ALL of it. Phone numbers, Web sites, email addresses, blogs, other Web assets like Twitter or LinkedIn … all of it. For those of you who don’t do that, what’s your deal? You don’t want more business? You’re dodging creditors? What? Second, and you should already know this from whatever you’re already doing to generate business, is that you need to make sure that everyone you know knows who you are and what you do. That’s easy to accomplish with social media, and certainly with Facebook. Make sure that the stuff you’re putting out there accomplishes that. Your posts need to make sure that people know, or are at least learning, those two things. Again, who you are and what you do. Do your posts reflect the things about you, both personally and professionally, that make you and your business unique? Do your posts make you human and relatable? You don’t

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want people to think you’re a mortgage machine. You’re not some rocket AI garbage, after all. You already know people do business with people they know, like and trust, so make sure your social media work is helping to get people, potential clients and referral sources that is, to know and like you. The trust part will come from the business related things you post and building that credibility. And let’s talk about those pesky business-related posts. You don’t want to be “salesy” in your social media game. You hate the people who are “salesy” in their social media game. So just don’t do it. It doesn’t help them, it isn’t going to help you, and people can see right through that. Don’t ever post about how you’re the greatest Real Estate Agent on the planet, or how you have the best interest rates on the globe. It’s lame, it’s selfserving and you can actually watch your friend count drop like the gas gauge on a box truck with the windows down and the air conditioning on. Just don’t do

it. Make sure your posts are genuine, helpful and for the greater good of the community. That is stuff your audience wants to see, hear or watch. Always consider the audience first in all your social media work. Another thing to consider is you really being you. I see so many people fail at social media when it comes to lead generation because they post such benign and vanilla garbage. They’re so afraid of offending some small sect of their audience that they come off as boring or having no personality. I think doing that is actually costing them more potential relationships by being so neutral, than they might be missing out on with people they may or may not be offending by actually being themselves. If you are really being you, people will gravitate towards that, even on social media, and those are the legit relationships you want to build in business and life. Just as in real life, I would suggest with social media, that you be yourself and be true to yourself. Some people aren’t going to like

you, some are. It’s just a fact of life. The difference here is that some people are going to like you, some aren’t, but it’s en masse. You can make friends with the people you like and move on with the ones you don’t one at a time, or thousands at a time. Finally, get a handle on what Facebook, and all your social media, likes and doesn’t like. Facebook loves live video. They strive to have nothing but original and organic content and nothing is more original and organic than live video. Facebook also hates when people leave Facebook, so don’t post links that enable people to

click away from Facebook. Facebook is smart … really smart! Their algorithms know what, when, how and why you’re posting and they will give you more traction and better exposure with the things they like, such as live video, and they will suppress the stuff they don’t like namely outside links and shared posts. Go see for yourself. You’ll get a lot more views/likes/comments on a live video than on that link you shared that enables people to click away from Facebook. I assure you, the science and calculating manner of Facebook rivals any business on the planet these days … including yours.

Adam P. Smith is President of The Colorado Real Estate Finance Group Inc., a commercial and residential real estate finance firm. He may be reached by phone at (303) 770-2262, ext. 112 or e-mail Adam@CoreFinanceGroup.com. 67

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Twelve Common Ways You Are Using LinkedIn Incorrectly By Theresa Santoro & Madeline Yaskowski

here’s no denying we live in a digital age. Faster than you can blink, technologies that were the talk of yesterday are becoming obsolete to new inventions. Information is being spread every single second, and it is becoming increasingly more difficult to stand out, especially in the job market. Arguably, the most common question from Millennials is how to stand out to recruiters. The answer is actually fairly simple: It’s all in the marketing. Gone are the days when people would swear that social media is a phase– now, it’s your greatest marketing tool. And for professional development, that means knowing how to use LinkedIn. Not convinced? Did you know that LinkedIn has more than 500 million users, and of that number, 40 million are students and recent college graduates? Because of this, recruiters know that LinkedIn is one of their best assets to finding top talent. There is one catch though: How do you know you are getting the most out of your LinkedIn profile? You can start by avoiding these common mistakes.

and building on those existing connections for a robust professional network.

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1. You don’t have a profile picture Did you know that your profile is 11 times more likely to be viewed if you have a profile picture? Having a profile picture helps put a face to a name— there is no better way to seem approachable and human. It can even be helpful in job interviews, where you might already have a leg up if there is a sense of familiarity. Don’t underestimate the power of facial recognition! 2. …Or you’re not choosing the right one As much as people like to say that they don’t judge a book by its cover, a 2014 study from Psychological Science says otherwise. Within 40 milliseconds of viewing an image

5. You’re not updating your profile Anywhere you see a “pen” on your profile is a place you can make edits. Use this pen as a guide–when you review your profile, go through each section to make sure the information is up to date. What can you add? What can you take out? How can you enhance the existing information on your profile? Those are important questions to ask yourself each time you visit your page.

“Headlines on LinkedIn are similar to articles in a newspaper … if the headline doesn’t grab your attention immediately, it is not likely that you will read any further.” of a face, we have already made several assumptions about the person pictured. It’s human nature and, unfortunately, the only way around it is to conform to professional standards. It is best to have a photo that showcases your face, which means avoiding photos with unflattering angles (no laying down), any accessories that may obstruct view of your face such as sunglasses or hats, and photos with other people in them. As far as attire, it is best to have on business wear or, at the very least, business casual clothing. LinkedIn isn’t the best place to put your vacation photos on display–leave that to Facebook or Instagram! Most firms will encourage you to get a professional headshot taken once you join, but if this isn’t an option, even getting someone to take a photo of you from an iPhone in front of a plain background will work.

3. You’re not continuously building connections In our careers, we are exposed to people every single day– people with different skill sets, knowledge and backgrounds. The whole point of networking is getting to know people with different strengths so we can reach out to people we trust when we need their help in those areas. Leverage as many connections as you can in every way, whether that’s through introductory e-mails, recommendations or simply those suggested by your LinkedIn algorithm. 4. You’re too focused on quantity LinkedIn is a relational network– it’s NOT a numbers game. Don’t worry about connecting with every single person in your high school class. Just focus on creating lasting relationships with others you come across

6. Your headline is self-serving Headlines on LinkedIn are similar to articles in a newspaper … if the headline doesn’t grab your attention immediately, it is not likely that you will read any further. A headline should describe your job and key skills or, even better, let your profile viewers know what you can do for them. After all, the main reason we view profiles is to see how connecting might benefit us in the long run. What do you want your target audience to take away from skimming your profile? 7. You’re not listing your entire education Many jobs these days have a required education level. Plus, you never know when you will meet someone who is a fellow alum! While there’s no guarantee you will get the job just by having attended the same school, this may be one more thing that connects us to our potential employers and serves as an easy conversation topic. 8. You’re not publishing articles If you maintain an area of expertise, don’t be afraid to share it with your network. People are actively looking for tips, tricks and areas to improve

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through LinkedIn, and it’s a great way to get your name out there. Because these articles are posted directly to a social networking site, it’s also very easy to spread the information. People from your network of 100 connections might share it to their network of 200 connections and so on. Can you imagine the “Spider Web Effect” going on there? Establish yourself as an expert in your field by sharing your advice. If you need additional inspiration, you can even create a round up article by asking your favorite experts to provide some advice on a question you have for them. 9. You’re not using hashtags Hashtags aren’t just for Twitter and Instagram! You can add them to the commentary about your article or post before you click publish. Adding hashtags helps surface your article or post to members who may find them relevant. On the LinkedIn app, you can even tap a hashtag displayed to show other content that includes that hashtag.

10. You’re not interacting If someone in your network has just published an article or post that you enjoy, make sure to like it, comment on it, or share it. Odds are, if you share their article or congratulate them on celebrating 10 years with their current company, they will be more likely to endorse your skills, share your article, and celebrate successes with you. On top of that, it shows that you are interested in the things happening in their field. 11. You’re not exporting your connections Don’t put all your eggs in one basket. It is great to have all these contacts in one easy and accessible place, but don’t put yourself at risk for losing information. Keep a backup log just in case your worst nightmare comes true and your account is ever hacked or deleted. 12. You’re not proofreading Always, always, ALWAYS proofread any new information you list on your profile, and if

you really want to be safe, do it a few times. There is no room for typos in a professional network; it makes you look careless–not a quality that potential employers are looking for in a candidate. LinkedIn can be a very powerful tool when it is used correctly. The differences between a good profile and a

great profile might just be what’s keeping you from the job of your dreams. Remember … while it may be all in the marketing, true passion speaks for itself. This is your place to showcase your ability, talent and wisdom, and to learn from others with different skillsets. Following these points will enhance your career and help your knowledge and success travel faster than ever before.

Theresa Santoro is a Senior Manager of Human Resources & Operations at Actualize Consulting, where she oversees all recruiting functions, partnerships, and training for the firm. She may be reached by e-mail at TSantoro@ActualizeConsulting.com. Madeline Yaskowski is a senior at Virginia Tech, studying public relations and German with a minor in psychology. She may be reached by e-mail at MYaskowski@ActualizeConsulting.com. 69

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Six Simple Steps to Launching Your Social Media Presence A how-to guide for mortgage professionals

By Marina Kowaleski

ocial media is a key part of society and business in 2018 that is here to stay. Gone are the days when mortgage professionals could get away with not having an active online presence. The truth is, if you aren’t active and easy to find online, you are out of mind, and missing out on countless opportunities to connect with potential homebuyers. It’s never too late to get started on social media. Here are six key steps you can take to get socially savvy in order to build and grow your business.

platform, you need to know who your audience is and which platforms your target audience is actively using. Are you looking to target Realtors and financial planners? LinkedIn is probably the best place to start. Are you looking to connect with friends and family, with a handful of business contacts? Facebook is a versatile platform for sharing a mix of business and personal posts. Start with one platform at a time. While you may want to target everyone and be active everywhere, it looks better to have one active and up to date site, rather than three or four that have not been active for months.

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1. Know the platforms For Loan Officers getting started on social media, choosing the right social platform is perhaps the most important step. But with countless social media platforms available, where should you begin? For starters, let’s look at the big four social media platforms: LinkedIn, Facebook, Twitter and Instagram. Regardless of which platform you choose, make sure it is compliant with your company’s guidelines. l LinkedIn: In order of importance, LinkedIn comes out on top. Otherwise known as your “Digital Resume,” a LinkedIn profile is a snapshot of your professional background. It’s crucial that you keep your profile as up to date as possible for compliance, so that potential clients can find your contact info, and gage your credibility. Favorite Features: LinkedIn makes it easy to collect endorsements from colleagues, referral partners and past clients so that people can hear about how great you are to work with. l Facebook: With more than two billion active monthly

“The truth is, if you aren’t active and easy to find online, you are out of mind, and missing out on countless opportunities to connect with potential homebuyers.” users, Facebook is the largest global social platform. Facebook offers an abundance of ways for users to share content for personal and business use, including articles, photos, live video, polls, events and more. Facebook ads are a topic we’ll save for another day. Favorite Features: Facebook Groups offer a way for professionals to connect and build relationships with others in the community or people who share common interests. l Twitter: Twitter is the social tool for sharing short articles, blurbs and commentary on trending news topics. However, with a limit of 280 characters per tweet, remember to keep it short. Sometimes less is more. Favorite Features: Twitter polls offer an easy way for users to engage and create

conversations with their audience, which will drive engagement back to their page. l Instagram: Unlike the other platforms that encourage visuals, Instagram is solely a visual platform and is not as friendly for sharing links and articles. Instagram is the perfect platform for those who enjoy taking fun photos and sharing interesting graphics. Favorite Features: Instagram ‘Stories’ is a newer feature used to share photos and videos in short snapshots. Unlike an Instagram page where posts will live forever, ‘stories’ are meant for sharing live updates, and disappear within 24 hours of posting. 2. Who is your audience In order to choose a social

3. Learn the ins and outs of your social platforms Once you understand the difference between the platforms and know your target audience, you’re almost ready to get started. But remember, practice makes perfect! You would not invest in a new business tool without doing some research, trying out the platform and watching tutorials on how to use it. Social media isn’t any different. Do your due diligence! Before you start posting, make sure you know how to add friends and contacts, how to post, how to engage with someone else’s post and so on. Make sure that if someone is engaging with your post, you know how to respond correctly and in a timely manner. There are countless blogs, articles and video tutorials on every social platform out there–take advantage of the abundance of digital resources available to you. 4. Create great content One thing to keep in mind as part of your social media strategy–great content is more important than followers. Think of your favorite brands on social media, or even your favorite blog, Web site or news

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station. What sets them apart from their competition? Chances are they are sharing great informational, funny or amusing content for their audience. Position yourself as an industry resource for your followers. Share articles and blogs that you would find interesting if you were applying for a mortgage or buying your first home. But where exactly can you find content to share? l Follow your favorite Web sites and news sources on social media so the news they share will pop up in your newsfeed. l Subscribe to industry blogs that will send content to your mailbox every morning. Follow those blogs on social, too! l Set Google Alerts to your inbox with keywords like “Mortgages,” “Real Estate,” etc.

6. Stay consistent So maybe you’ve done steps one through five, posted a few times and all of a sudden … it’s been six months since your last post. When potential clients visit your page, the first thing to come to mind will be, “Are they still in business?” When it comes to your digital marketing strategy, consistency is key. Your social media presence is a living, breathing representation of who you are and what you do. Studies show that having an inactive social media account can actually harm your online reputation more than help. If your pages have been inactive, this will cause confusion and

If you’re still new to social media, it may seem like an overwhelming and daunting task to get started. However, by taking it slow and following these six steps you’re sure to catch on sooner than you think. Social is just another way for humans to connect and interact with each other, making it easier to stay in touch with your network. Focus on new and creative ways that social can help your business and you’re bound to succeed!

Marina Kowaleski is the Digital Marketing Specialist for Fairway Independent Mortgage’s New England Region. With a background in social media marketing, Marina specializes in educating mortgage professionals on how to use various social media and digital marketing tools to build their businesses. She may be reached by phone at (508) 414-4501 or e-mail MarinaK@FairwayMC.com. 71

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5. Be engaging and authentic As a modern day communication tool, social media is an outlet for consumers and businesses to connect with each other, and

Social media is a conversation. Don’t be a fly on the wall … position yourself as the keynote speaker. However, remember that social is a twoway street! If others are commenting on your posts, reciprocate the gesture and comment back by thanking them for their response. Additionally, don’t hesitate to engage with what others are posting to their pages. Who knows, it may even spark up a phone call, meeting or new business. In addition to being engaging, you want to be authentic. Don’t act any differently on social media than you would in your everyday interactions with your network. Surprisingly, it’s pretty easy for avid social media users to catch on when you’re acting differently online than you normally would. Just be yourself!

could hurt your business. In order to avoid this, plan your social content out in advance. Put reminders on your calendar to post on certain days of the week, or, try using in a third-party tool that allows you to schedule your content to post automatically at the time of your choosing. Make your social presence part of your daily or weekly routine so you are habitually thinking about new topics and ideas to share.

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Maybe you’ve done all these things and still can’t find quite what you’re looking for. The easy solution … create your own content! Seventy-nine percent of consumers would rather watch a video to learn about something new than read an article. Record a short video of yourself explaining the steps of the homebuying process, how to get preapproved, explaining what PMI is, or discussing the hot market in your area. Not comfortable on camera? Practice! Social media posts with videos in them boost views by 48 percent, and are sure to help your digital presence. In the meantime, try writing a blog explaining these same topics until you’re comfortable enough for the big screen. To your followers, you are considered an expert in your industry, and over time they will learn to listen, trust and share the advice you are giving. Once you’ve built an audience and generated interest around your content, you will grow your followers.

should not be thought of any differently than other common form of communication. What exactly does this mean? Get creative, and think of ways you can easily spark up discussions with those in your network. You can provide opportunities for your clients and referral partners to engage with the content you’re posting in several ways … l Post a family photo from your recent vacation. l Share a trending article about an upcoming event in your area. l Ask your network what their top homebuying questions are.

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Can Compliance and Social Media Co-Exist? By Brandon Simmons

veryone loves the cliché “Rules are made to be broken,” except for the Compliance Department at any office. The problem is, as a Social Media Manager, that cliché sometimes fuels the creativity of how you can break through the clutter of everything that has a potential client’s attention. If there are any teams that may go to war with each other, it would be the Compliance and Social Media teams. Working with the Compliance Department at your job, is both a frustrating and rewarding task, if you are a Social Media Manager. Their job is to watch out for the regulations within the mortgage industry and make sure the company abides by them. The Social Media Manager’s main focus is to be the online extension of the Marketing Department, promoting the company on various platforms through branded content. These are, to say the least, two very different positions by functionality. However, there are some key steps you can take to ensure both can come together to share in success.

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Communication The Compliance Department is the gateway to the wonderful world of rules, regulations and endless verbiage. These are all the things that we do not envy of them by any means. Therefore, they are the watchdogs for those things, as well as the changes associated with them. Compliance has all the knowledge of what is allowed in certain states, and which programs need specific language surrounding them. It’s important for them to stay on top of that and you shouldn’t be afraid to as well with communication. Feel free to ask questions about anything you are unsure about concerning compliance. There are a wide range of rules for different states and loan programs; too much to figure out on your own. If

“Together, Compliance and Social Media Managers work to bring some sort of transparency for the consumer, where they feel comfortable enough with the message received as what they will get. It’s a task that cannot be easily done separate from each other.”

you want to solve the mystery of what you’re looking for, all it takes is one question. Despite the jokes in your head, the Compliance Department is not as stuffy as you would think. They serve a function to the company just as much as any other department that is there. Understanding each other’s purpose Every department serves its own purpose, but the Compliance Department might be the Draymond Green of your corporate squad. They are the enforcers because one small misleading statement can lead to a big penalty. The Compliance Department’s responsibility is to make sure everything goes by the books as far as licensing and language. They make sure the company and its employees are abiding by all regulations. In the

mortgage industry, this can be frustrating as some rules might apply to niche circumstances. There are times when these circumstances will require some sort of language to be placed within the advertisement. This can be a headache, especially when dealing with social media, and something that can easily get lost in the cracks. The Social Media Team’s only purpose is to boost the company’s brand through the online atmosphere. It is now commonplace for major corporations to get their names out there through various social platforms in order to reach their customers in a more creative fashion. This is vital to a mortgage company, as there will always be a need to buy a home or obtain a reverse mortgage. This is essentially what social media is designed for; people of

all backgrounds to connect and share information. However, the latter can turn into a hotbed for all types of falsehoods. There is no real filter to determine which information is accurate or just being out there for the sake of getting “likes”. To prevent any type of falsehoods, the Compliance and the Social Media Departments can come together on this issue. It’s easy for a Loan Officer to slip in a “Free” or forget to put in a disclaimer, to reel in a potential closing. This is where the Compliance Department steps in and advises on the proper verbiage to avoid any confusion on the part of the consumer. In addition to breaking the clutter, social media is also all about keeping the “clutter” low. Some platforms utilize character limits for their posts and their profile information which can cause a problem for any language or credentials that must be presented for a loan officer’s advertisement. There will need to be creative ways set forth to get the proper message out while maintaining some marketing savvy. On the flipside of this, it will not hurt for Compliance to understand the role of how social media functions through different networks. For example, sharing content on social media is basically second nature on any of the social networks today. Every re-tweet and repost is just as vital as a user creating their own content. However, Compliance might look down on blind reposting, as in sharing another user’s content, since it might not be valid or may belong to a competitor. Besides, the way content is reshared varies on different platforms as well. If you share content on Pinterest, or “RePin,” it will appear as something that comes from you. The same thing will happen with a Twitter re-tweet or an Instagram Repost. Even though it can be assumed that the idea being shared is not an original idea of that user, the information still must have some validity found within it. This is where the Compliance Department kicks in to scrub all the false information. They swoop in like the fact-checking heroes they are and ensure that

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what the company is posting to online platforms is rid of villainous falsehoods. If your company has a Compliance Department that utilizes multiple people, it would be best to have someone who can stick to monitoring online activities of Loan Officers. The term, “monitoring” might come across as the intro to a mediocre sci-fi show but it can help efforts on making sure Compliance is doing everything they can, to stay in line with regulations in this digital climate. Having someone designated for the social media/digital aspect of Compliance is not a bad idea. It goes back to the earlier concept mentioned of understanding each other’s purpose. Ideally, it would be great for Compliance to understand the inner workings of their Social Media Coordinator, but between keeping up with their own functions of regulations, it can be quite a daunting task. Just having somebody to cover that particular area could alleviate the seemingly monotonous task of regulating the company’s social media presence and leave more room for the primary operations of the Compliance Department.

message is delivered, which is vital to any advertising or promotion.

Brandon Simmons is the Digital Manager for Open Mortgage LLC, where he manages social media and advises Loan Officers on social networking activities. The Houston, Texas native attended Texas State University, where earned a Bachelor’s degree in Electronic Media and a Master’s in New Media. Outside of preaching the Digital gospel, Brandon listens to Nas and Jay-Z, as well as writes content for his own personal blog, BrandonSimmons.biz. He may be reached by e-mail at BrandonSimmons@OpenMortgage.com.

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After about 1,200 words, the answer is “Yes,” Compliance

what is allowed along industry standards. The advising that they provide can shape the way a

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Realizing the common denominator The main thing that Compliance and Social Media Managers should aim for is the common goal of bestowing trust upon the company. No matter the size of the company, people tend to get a little weary about working with mortgage lenders in fear of being cheated financially or agreeing to something they were not clear about and not prepared for. Together, Compliance and Social Media Managers work to bring some sort of transparency for the consumer, where they feel comfortable enough with the message received as what they will get. It’s a task that cannot be easily done separate from each other. Whether it’s the regulatory knowledge of Compliance or the Social Media Manager’s savvy messaging, both groups must be able to trust the other that they can deliver a trusting image for the company through their own primary functions.

and Social Media can co-exist because there is room for both entities to exist. Even if a company has a small Marketing Department, in which the Social Media Manager wears many hats, it is still useful to work with the Compliance Department to understand what should be posted or put out to the public. The same thing can be said for the Compliance Department themselves. It is their job to give concise and accurate details on

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Can Video be Your Magic Weapon? By Shirleen Von Hoffmann

ur business can be brutal. We are always looking over our shoulder at the market, the rates, the competition and now, the Internet. We need a magic weapon to overcome being taken over. I was just coaching a mortgage professional and he, like many others including Realtors, is concerned about the Internet taking over our business, very similar to how travel agents were. I told him, if you build solid relationships and make yourself a valuable asset in the homebuying process for your clients, I don’t think you will be going anywhere! This is a big purchase and needs that human element as hand holding goes a long way! We bring that human touch, that Internet bots simply cannot. The challenge in finance is getting across you are more valuable than just quoting loans and figures. One way to do this is to be creative in your marketing and presentations. Video is an amazing and inexpensive marketing tool and something to really help you be more valuable and stand out. The great thing about video is that once you master the basics, you can create many different ways to help build solid relationships. Here are some fresh ideas on ways to use video.

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“Video is an amazing and inexpensive marketing tool and something to really help you be more valuable and stand out. The great thing about video is that once you master the basics, you can create many different ways to help build solid relationships.”

Basic Bootcamp: Make sure to get these items in order before you begin l Branding: Have good photos, know who you are and what you do well and practice saying that quickly. Remember it’s about what your client finds valuable. Brand all of the video you

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send out for social media with your company, logo, your name and contact information. Your video will most likely be shared by your client’s social media and you want their friends and family to call you. l YouTube: Make sure you are a master at uploading video to YouTube and have a YouTube account for your business activities. l Social media: Make sure your all of your social media is perfectly branded, separated business from personal and ready to receive your video uploads. Have accounts with Facebook, Instagram, LinkedIn, Google+ and Twitter at a minimum. l Video e-mail: Video e-mail allows you to record yourself, with your phone/tablet, and film anything around you, like your team or be in the field filming their home construction. You simply open

the app, hit the video button, record your video message, enter their e-mail and push send. It’s that easy … three steps and you are sending a message that is very different from any other e-mail. l Video resources: You will want to have good equipment for all kinds of video, including a phone with good video or a video camera with a stand; a video stabilizer to stabilize moving shots like a pro; and a video editing program (there are many, mostly you want to be able to brand and edit video). l Video rules: Keep video time as short as possible, the rule of two minutes can be applied to get your message across, three minutes if it’s an introduction video, but shorter is better. Your video will most likely be shared via social media, so make sure not to share personal facts or too much information. Keep it simple … short and sweet works! Get written permission to use client video. Once you have gone through basics, here are some simple video weapons: l Introduction videos: You need an introduction video that speaks to who you, what you do and why someone should want to work with you. You may want create three or four different intro videos. One each for prospects, new buyers, client Builders and Realtors. Before you sit in front of the camera make sure you have a script, practiced, so it sounds natural. It should include, three sales props, things that make you special, a compelling reason why they should use you, a call to action and a quick bio that speaks to who you are and your team and company. While we are on introduction, I love to have a team introduction video that a follow up item for a new client and has all of your team members in it speaking briefly on who they are, years of expertise, what they do and when the client may expect to

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hear from them. This is a great idea to personalize your valuable team. Have fun with this! l Follow up: Follow up and personalization is what will make you stand out from the Internet and the rest of the crowd. Most clients feel ignored when they fall into the long rigorous mortgage process, but your videos are going to make them feel differently.

10.

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Video e-mail and videos to buyer clients 1. Saying thanks for using you … they loved meeting with you and cannot wait to make this dream come true for you and be your

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service … that you will always handle their family and friends with the utmost care. 18. Ask for a video testimonial talking about your service and what you enjoyed about working with me. 19. The closing ceremony— video of them taking ownership and opening their front door after they cut the red ribbon you put on their front porch. 20. A closing video about how happy you are they are in the home of their dreams and reinforcing the referral request. Buyers are making perhaps the most expensive purchase

in their lives, a home. No matter how far advanced we are in technology, the basics of buying a home are still exciting. So give them videos of their home or updates as many times as you can. It’s a big deal to them. Once they receive your video, they will most likely share it on social media … how brilliant are you? The possibilities of utilizing video is a game-changer and will be the one thing that will set you apart from the Internet companies. It’s your “Boots on the Ground.” When used with your other marketing and the right tactics and tools, video will become your secret weapon in the War against the Internet.

Shirleen Von Hoffmann is a nationally-known top producer, author, speaker and writer for many real estate magazines. She is a California Broker, MIRM, CMP CSP and President and Sales Coach of Home Builders Edge a National Consulting firm for Mortgage Professionals, Builders and their teams. She may be reached by phone at (866) 600EDGE or e-mail Shirleen@HomeBuildersEdge.com. 75

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lender for life. Introducing team members, who they are, what they do and how to contact them. Reminding them of anything you need or asked them to send in after the loan application. Explaining the loan process and stages to expect. You can have many of these that carefully explain each stage and what is expected of them. Like a loan in process, docs to title company, signing and funding. A video explaining different products you have to offer and how each works. Explaining fees and costs, how to bring their money to the escrow company. Explaining the basics about gifts, saving money, not opening new credit and changing jobs. Explaining what is needed from them from the seller side … termite inspections, warranty, home inspections, etc. Giving regular updates on the process of their loan and stage they are in. This video can be shared with the Builder or Sales Agent. Giving video weekly progress of their home under construction. Giving video for reminders like obtaining insurance, preparing to move and items you may need from them. General, weekly video updates that everything is going great … we don’t need anything from you and are just waiting to close. Video of you talking about the quality of the Builder and your experience working with them as a housing partner. You can memorize from the builder story online for a bio on the Builder. Video rate updates and locking in explanations. Video of you having fun with your team and or your family. Video about your company and why you work there. Ask for referrals speaking to how you work hard to provide VIP customer

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Video e-mail to new Builders or Realtors 1. Saying thanks for meeting with you, you loved meeting with the client and cannot wait for a follow up meeting. Make it a goal to exceed their expectations! 2. Saying thanks for a new client, you are going to take great care of them and make you want to use you repeatedly going forward. 3. Giving weekly updates on the progress of files. 4. Introducing your team, who does what, who to call or e-mail. 5. If you are on-site with an agent doing an open house or community, shoot some video of the home or with the agent and share it via social media … it’s a huge push for selling that home. 6. Video testimonials of happy clients that they sent you. 7. Video of your company’s key components, why you chose to work there and why you love working there. 8. Video of products you think they need or want to hear about. 9. Video of your closing ceremony of the client they referred to you. 10. Video market updates discussing rates, the market, special programs, learning activities or seminars you have coming up, or anything they will find valuable in helping sell homes.

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Navigating the Expansive Waters of Social Media Marketing and Compliance in the Mortgage Industry By Mary Kamelle

he mortgage industry is a highly regulated industry and for good reasons that were in large part caused by the industry itself. In 1994, predatory lending practice laws were passed to protect borrowers from unscrupulous lenders. Later, the Home Ownership and Equity Protection Act (HOEPA) was created to combat things like financing excessive fees, excessive prepayment penalties, negative amortization and aggressive and deceptive marketing practices. Regulations were passed after the sub-prime mortgage debacle and the subsequent housing crisis to make sure stricter, more transparent guidelines were put in place to protect borrowers. If history is any indicator of future behavior, we will continue to need some level of protection because any time you have a large financial transaction that involves a financial expert working with a borrower who is not as sophisticated there is the possibility of abuse. According to an article by Ben Smidt on the MGICConnects Web site, he writes, “As a mortgage industry professional, social media is one of the most valuable touchpoints you can have with your customers and prospects. A sound social media strategy can provide increased business opportunities, in particular, for first-time homebuyers.” The popular opinion regarding social media marketing is that it is a necessity. As such, it needs to be regulated fairly to protect the customer, but also the Loan Officer and the Lender, as well. So what is social media? There is no shortage of definitions:

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1. Social media is Web sites and applications that enable user to create and share

content or to participate in social networking. 2. Media that allows discussion and interaction as opposed to broadcast only. 3. The facilitation and practice of engagement and conversation online. 4. Merriam-Webster Definition of “Social Media:” Forms of electronic communication (such as Web sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal messages and other content (such as videos). What is meant by the word “Content?” Content includes the following: l Articles l Blogs l Written word pieces l Videos l Live broadcasts l GIFs l Ads l E-mails l Texts

The top five most popular apps for mortgage professionals to use for social media marketing are: l l l l l

Facebook YouTube Twitter Instagram LinkedIn

Who regulates social media marketing for the mortgage industry? The Consumer Finance

Protection Bureau (CFPB) regulates all social media marketing for the mortgage industry. According to the CFPB, “Financial institutions are using social media as a tool to generate new business and interact with consumers. Social media, as any new communication technology, has the potential to improve market efficiency. Social media may more broadly distribute information to users of financial services and may help users and providers find each other and match products and services to users’ needs. To manage potential risks to financial institutions and consumers, however, financial institutions should ensure their risk management programs provide oversight and controls commensurate with the risks presented by the types of social media in which the financial institution is engaged.” Most state jurisdictions also have laws to protect consumers from unfair and deceptive, lending practices. These laws are codified for and directed to mortgages lenders and other financial service providers. Lastly, states can sometimes set regulations that are more strict than federal regulations, therefore, it makes sense to know both federal, as well as, any unique regulations for your state jurisdiction. There are a number of regulations that outline the dos and don’ts of marketing for professionals in the housing industry. One of the most wellknown is the Real Estate Settlement Procedures Act (RESPA). RESPA covers loans secured with a mortgage placed on oneto four-family residential properties. Originally enforced by the U.S. Department of Housing & Urban Development (HUD), RESPA enforcement responsibilities were assumed by the CFPB when it was created in 2011. RESPA

prohibits activities relating to individuals working in Real Estate, Mortgage and Settlement Services professions from engaging in fee splitting, giving or accepting a fee, kickback or a thing of value in exchange for referrals of settlement services. This includes applications taken on line, electronically or via social media. Co-marketing with your business partners and referral partners is widely popular, if you do it fairly and transparently, you will not violate RESPA. You should pay close attention to third-party sites that want to provide leads for Loan Officers and Realtors. Internal controls must be established to make sure that there is no arrangement, whereby a Loan Officer is paying a Realtor for a lead or giving the impression that they are providing a thing of value to a realtor. Recently, the CFPB was investigating Zillow for its comarketing with Loan Officers and Realtors. The investigation centered on lead-sharing and co-marketing relationships. Lenders need to make sure they have a policy in place regarding lead share and that it states clearly that each party must pay for their own marketing efforts and borrowers are free to use the lender of their choice. The Fair Lending Laws are applicable to Loan Officers’ use of social media marketing. Lenders and LO’s must be sure that their use of social media does not violate these laws. 1. The Equal Credit Opportunity Act, as implemented by Regulation B, prohibits creditors from making any oral or written statement, in advertising or other marketing techniques, to applicants or prospective applicants that would discourage on a prohibited

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on the organization, depending on the form and content of the communications. The best way to handle this is to have a policy in place that clearly states are not to imply that the company shares their opinion. Sean A. Riley, President and Legal Counsel for Mortgage Equity Partners, a direct lender with offices in New England and Florida said, “The presence and acceptance of social media marketing requires new thinking around risk management.” Things to consider As technology changes faster than regulations can be drafted, we will have to apply current best practices to our social media marketing strategies. Future considerations would include apps such as Snapchat, which allows you to send a message that disappears after two minutes. How can you regulate a digital or video message that disappears? If you as an LO share a post made by a Realtor on Facebook is there a monetary value connected to that? Does that constitute an implied endorsement? Are you providing them a “kickback” if you have a lot of followers and you share their open house listing with 1,500 of your followers? Is that Realtor indebted to you in some way? If you follow any social media blogs or groups you will hear over and over that the most important part of your social media strategy is engagement. Engagement means sharing, liking and commenting. At this time, in my research I have not found any specific regulations governing this behavior. Technology creates amazing opportunities, but also poses a lot of new questions regarding ethics for the mortgage industry. It seems unlikely that we will get clarity from the CFPB now as the current Director, Mick Mulvaney, tends to be less in favor of strong government intervention. The recent legal case involving Zillow did not give us any legal

precedent by which we can base our decisions. It seems that responsibility of social media marketing compliance will fall to the organizations themselves. Mortgage lenders will have to have a comprehensive compliance and risk management program in place as the use of social media marketing becomes more widespread, and as social media companies continue to push toward the paid advertising model. For now, here are some tips to keep your social media marketing on track: 1. Know your company social media policy. 2. Avoid talking rates. 3. Companies should have a marketing approval process and LO’s should use it. 4. Know who your Compliance Officer is. 5. Make sure the NMLS number for the company and Loan Officer are visible in all ads and on all social media profiles. 6. Do not use personal accounts for professional marketing. Have a business and personal account when applicable. 7. Know who the regulators in your industry are and what they say. 8. If a financial institution engages in residential mortgage lending the Equal Housing Opportunity logo must be displayed, as applicable. 9. Be sure your e-mail signature contains proper disclosures and the NMLS number for the company and the MLO number. 10. When using rates in any form of advertising, digital or otherwise, make sure you comply with Reg. Z/TRID and other necessary disclosures concerning the APR. 11. Know the social media policies of the state jurisdictions by which you are licensed, as they vary from state to state.

Mary Kamelle is Marketing Manager at Mortgage Equity Partners and a content writer based out of Lynnfield, Mass. She can be reached by phone at (781) 309-1773 or e-mail MKamelle@MEPLoans.com.

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What are the concerns for the lender/loan officer using social media marketing In addition to the violations of the regulations listed above, there are some additional risks for the LO and lender undertaking a social media marketing campaign that need to be considered and managed. There are many review sites on line that customers can use to share their opinion regarding what is what like working with you. How did it go? Do you share the same opinion as your borrower? Sites like Yelp! are more than happy to give consumers a platform to share

their customer experience. On Yelp! You must be a registered user. The only requirement to be a registered user is an email account. If your reviews are positive there is no problem, however, when you receive a negative review you should respond promptly. You should be checking on your accounts frequently. When you respond be careful not to share any detailed account information and do not get into a social media “he said-she said” online. Be professional and encourage the dispute be rectified offline. The CFPB also has a complaint site. This site is for consumers to submit complaints with regard to financial products and services. There is a five-step process whereby consumers submit complaint, CFPB staff reviews it and if found to be valid it is sent to the company for a response. The final part of the process is that the complaint is published in the CFPB database and becomes public record. The risks for lenders are clear in that if the claim is submitted that is not valid it still become part of the public record and could have a negative effect on the companies’ reputation. You should be sure to monitor all of your accounts in order to respond timely and appropriately. Responding to inquiries online is another area of concern. It can be harmful to a companies’ reputation if inquiries are not responded to efficiently. Third-party concerns come up again when you are working with vendors who provide social media marketing services. While you are turning over the marketing responsibilities to third-party, you have to regularly monitor the information placed on social media sites. Monitoring is the direct responsibility of the company, as part of a sound compliance management system. Online employee activity needs to be monitored as well. All companies should be aware that employees’ communications via social media may be viewed by the public as reflecting the organization’s official policies or may otherwise reflect poorly

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basis a reasonable person from making or pursuing an application. 2. The Fair Housing Act (FHA), among other things, prohibits discrimination based on race, color, national origin, religion, sex, familial status, or handicap in the sale and rental of housing, in mortgage lending, and in appraisals of residential real property. 3. TRID f/k/a-Truth in Lending Act/Regulation Z: Reg. Z requires that advertising, which includes electronic or social media communication, must follow certain standards. Namely, those advertisements with any message regarding rates are required to also include disclosures about loan terms and costs. Reg. Z also covers proper use of credit and requires that the lender must provide the consumer with all the Reg. Z disclosures within the required time frame. 4. Gramm-Leach-Bliley Act Privacy Rules and Data Security Guidelines: Title V of the Gramm Leach-Bliley Act (GLBA) establishes requirements relating to the privacy and security of consumer information. This is another activity that will fall to organizations’ Risk Management and Compliance procedures. As more and more information is collected online, it becomes the responsibility of the lender and Loan Officer to protect client data. This is critical to the success of a company.

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Social Medium

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By Eric Weinstein

never go back to my high school reunions for the same reason I hate The Facebook. I am a “Social Medium.”

I was not exactly the most popular in high school, but not “Captain of the Nerds,” either. I am a proud representative of the silent, invisible mainstream. The guy who never got picked first for the team, but not the foreign exchange student with braces that got picked last either … a solid, middle of the road, average cup of Joe. Call it the “Goldilocks” of popularity. I have noticed, the “Cool People” who were the most popular in high school: The cheerleaders, jocks and the like, are the same people that contribute most and have the widest following on all the social media. I guess they got the gift of gab, or people still want to be like them or are they are just still easy on the eyes. People naturally like them. What better person to be a salesman, Realtor or Mortgage Loan Officer? What better person to sell something to their loyal drone followers. Use my service and you can be one of my friends! But where does that leave the rest of us, or specifically me? My photo does not exactly scare children and make babies cry, but I am not what one would call a “catch” either, unless you are bottom fishing in a polluted lake.

“Social media does work, if you are social large, extra-large or husky. It’s just not for us ‘Social Mediums.’”

I would venture to quip, the vast majority of us are in this majority. The ones who post a picture of our dinner and do NOT get 750,000 likes instantly. Someone who “Friends” a coworker on Facebook and gets the reply, “Do I know you?” Just another rose in the gardens at Versailles. Therefore, I feel I am required to sound the trumpets of alarm if

We are featuring a directory of lenders who have remained in support of the wholesale

this rings familiar. DO NOT plan your entire advertising campaign on social media. It does not work for people like us. I hate to slap your face with the cold, wet fish of truth, but you are NOT Donald J. Trump or Kim Kardashian with your witty tweets and bon mot on the latest round of fed funds and rate hikes. Your e-mails are being delegated to their trash folder unopened. Let’s face it … people buy a home once every five years and few people are refinancing right now. Do you really think they still care about

that now? More than likely, they are staring at a cat dancing to Polish Folk tunes on YouTube. You are a pest, an annoyance … you are the Steve Urkel of e-mail (Google “Family Matters”). All you did was waste a bunch of money on a fancy Web site with nothing to show for it. Don’t get me wrong. Social media does work, if you are social large, extra-large or husky. It’s just not for us “Social Mediums.” Here’s an idea. Turn off CNN, get off the sofa, shower, put on some clothes, go out and meet some people. People tend to believe the advertising hype that social media is the end all, be all, of reaching customers, bountiful riches and cornering the mortgage market. And it is no coincidence the companies spouting this propaganda are the same ones willing to sell you what it takes to achieve it: Leads, a Web site, Search Engine Optimization (SEO), a lamp you rub and a genie comes out. I have one simple question for the lead companies that constantly inundate me with their pitch: “If your system works so well, why don’t you just get licensed and do the loans yourself?” No response … My advice is to keep your social media as social and your advertising in advertisements. Of course, if you are one of those popular people and social media is doing wonders for you … please consider inviting me to your next party. I will “Like” your page on Facebook. I promise.

channel or have recently opened wholesale divisions. Please share some details about your company for a free listing in the September 2018 edition of National Mortgage Professional Magazine and on our website.

nationalmortgageprofessional.com/2018-whos-wholesale

Eric Weinstein worked in banking, on the commercial real estate side until 1991, when he fell in love with residential lending. In 1995, he started a small mortgage company in his basement called Carteret Mortgage Corporation, which in 2003, grew to one of the largest mortgage broker companies in the United States. Eric is semiretired, doing mortgages by referral only. He may be reached by phone at (703) 505-8692 or e-mail EWeinstein4U@gmail.com.

SOCIAL MEDIA a special focus on SOCIAL MEDIA a special focus on SOCIAL MEDIA a spec

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over the course of two days to help build these homes for Utah families. Developed by the non-profit percent from the same period one organization and the University of year ago, according to new Utah, the “Field of Dreams-Eco statistics from ATTOM Data Community” homes are energy Solutions. efficient, 1,500-square-feet A total of 191,914 properties houses that only use $1.50 in started the foreclosure process in energy costs per day. Salt Lake the first six months of 2018, down County has approved 20 homes eight percent from the first half of to be built in the new 2017. Nationally, only 0.27 percent development. The Giving of all housing units—one in every Network’s team members worked 370—had a foreclosure filing in the on the first and second homes first six months of 2018. And being built in the Field of Dreams despite the national trend, 22 project. states posted a year-over-year “We admire the great work that increase in foreclosure starts in the Habitat for Humanity does for first half of 2018, most notably low-income families in the Indiana with a 51 percent increase. community,” said Dave Zitting, And 88 of the 219 metro areas Chief Executive Officer of PRMI. analyzed in the report, or 40 “As a local mortgage lender, we percent, posted year-over-year understand just how special and increases in foreclosure starts in important owning a home is to a the first half of 2018, most notably family. We are grateful for the Minneapolis-St. Paul with a 50 opportunity to support a local percent annualized spike. organizations working towards “Localized foreclosure flare-ups satisfying the needs of our in the first half of 2018 can no community.” longer be blamed on legacy Through volunteer labor and distress left over from the last donations of money and housing bubble given that nearly materials, Habitat for Humanity half of all active foreclosures are builds and rehabilitates simple now tied to loans originated in and affordable homes for low2009 or later and given that the income families. Recent surveys average time to foreclose show nearly a quarter of plummeted in the first two quarters homeowners in the U.S. pay more of the year,” said Daren Blomquist, than 30 percent of their income to Senior Vice President with ATTOM their housing, making it difficult to Data Solutions. “Instead these afford necessities such as food, local foreclosure increases are clothing, or medical care. Stable typically the result of more recent housing is foundational to build distress triggers in those markets. self-reliance, stability, and quality We’re also seeing early evidence of of life. This is the second gradually loosening lending opportunity the PRMI Giving standards starting in 2014, Network has worked on this specifically for FHA-backed loans. Habitat for Humanity project in The foreclosure rate on FHA loans eight months. originated in 2014 and 2015 has “Our homes are for the most now jumped above the average part built by volunteers allowing FHA foreclosure rate for all loan us to pass on the savings directly vintages—the only two postto our new homeowners, without recession vintages with foreclosure them we cannot make these rates above that overall average.” homes so affordable” said Candice Diggs, Volunteer PRMI Giving Network Helps Coordinator for Habitat for Construct Habitat EcoHumanity Salt Lake City.” Homes in Utah Millennials Overwhelmingly Seeking Purchase Loans Over Refinancing

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fourth consecutive year, Wells Fargo led the way as the company with the most honorees, followed by New American Funding and Equity Prime Mortgage. "There is always a highly skilled mortgage originator behind the most successful real estate agents in the industry," said Daisy Lopez-Cid, NAHREP President. "The superstars in the NAHREP Top 250 are some of the best mortgage originators you'll find anywhere in the nation." The Top 250 Latino Mortgage Originators Report was compiled through a self-nomination process reflecting total transactions closed during the 2017 calendar year, then validated by NAHREP through the nominees' respective companies. The report represents more than $7.39 billion in combined sales volume in 2017. The 2018 Top 10 Latino Mortgage Originators in the U.S. include Elizabeth Hoeffer Irvine, Guild Mortgage, Ariz.; Alex Varela, PrimeLending, Texas; Norma Guerrero-Cowes, DHI Mortgage, Texas; Jorge Montoya, Guild Mortgage, Nev.; Carlos Larrazabal, Sandy Spring Bank, Va.; David A. Medrano, University Federal Credit Union, Texas; Armando SanMiguel, Ameris Bank, Tenn.; Alfredo Madrid, Supreme Lending, Okla.; Manuel Corral, Golden Empire Mortgage, Calif.; and Claudia Reyes, HomeSource Mortgage, Texas. Among non-depositories, New American Funding topped the list with 39 originators, followed by Equity Prime Mortgage with 12. The overall Top 250 report included representation from 62 companies across 26 states. While mortgage professionals are generally considered to be an aging demographic, only 7.3 percent of the Top 250 Mortgage Originators are over the age of 50. Foreclosure Filings Plummet During the First Half of 2018

A total of 362,275 properties carried foreclosure filings in the first half of this year, down 15

PRMI Giving Network volunteers recently lent their hands at the Salt Lake Valley Habitat for Humanity, helping construct two homes for the “Field of DreamsEco Community” project in Kearns, Utah. Team members donated more than 150 hours

nine percent of Millennial mortgage origination in May, down from 10 percent in April, while the remaining one percent was attributed to unspecified activity. Sixty-eight percent of loans sought out by Millennials in May were conventional loans, while FHA loans accounted for 28 percent of closed loans, VA loans represented two percent and the remaining three percent were undisclosed. Millennial males were listed as the primary borrower on 62 percent of closed loans, while females were listed on 32 percent and seven percent were unspecified. For comparison, in May 2017, males were listed as the primary borrower on 65 percent of loans, females at 32 percent and three percent were unspecified. The average age of Millennial borrowers in May was 29.9, unchanged from the prior month. Ellie Mae also noted that average Millennial borrower credit scores on closed loans varied widely by market during May, ranging from 662 in Madisonville, Ky., to 757 in San Francisco. “You would expect to see higher average FICO scores in the largest coastal metropolitan cities where loan amounts are higher, which we do see in areas such as San Francisco (757), Los Angeles (745), Boston (701) and Miami (722); however, there are some surprisingly high numbers in more rural areas, such as Mitchell, S.D where the average FICO for Millennials was 735 in May, higher than Boston or Miami,” said Joe Tyrrell, Executive Vice President of Corporate Strategy for Ellie Mae. “Our Borrower Insights Survey recently found that many Millennials have a strong misperception about needing a perfect credit score to qualify for a home loan.” 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

Purchases made up 90 percent of all closed loans to Millennials in May, up from 89 percent in April, according to new data from Ellie Mae. Refinances represented only

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

heard on the street

PRMI CEO Zitting Honored by the MBA

Black Knight Acquires AI Provider HeavyWater

Black Knight has announced the acquisition of Philadelphia-based HeavyWater, a provider of artificial intelligence and machine learning (AI/ML) to the financial services industry. Black Knight will be integrating AIVA into its premier solutions, while also making the technology available to clients who seek to deploy AI/ML within other parts of their organizations to help enhance efficiency, effectiveness and accuracy. “With the cost of origination and servicing at, or near, all-time highs, AIVA is poised to help increase efficiencies for Black Knight clients,” said Anthony Jabbour, Black Knight’s Chief Executive Officer. “AI, machine learning and neural network solutions are the future of delivering enhanced productivity and capabilities to our clients, and we are very excited about the potential HeavyWater has to offer. Now, with HeavyWater a part of Black Knight, we’ll be able to apply this groundbreaking technology at scale and pursue

Commerce Home Mortgage Acquires LoanStar Home Loans

Commerce Home Mortgage LLC and its parent company, The Capital Corps LLC, have announced the acquisition of the retail mortgage banking company LoanStar Home Loans LLC. Terms of the transactions were not made public. Headquartered in Portland, LoanStar operates loan production offices in Oregon, Washington, California, Colorado, Arizona, Texas, Utah and Hawaii. The company will continue to operate under the LoanStar name as a division of Commerce. “I am thrilled to partner with LoanStar and its talented professionals for this strategic transaction,” said Steven Sugarman, Executive Chairman of The Capital Corps and Commerce. “Our combined organization will have a strong balance sheet, meaningful scale, and the benefits associated with our certification as a CDFI by the United States Department of Treasury. As Commerce rolls out its proprietary, non-traditional prime mortgage products later this year, our retail loan officers will have a compelling opportunity to meaningfully grow their originations.”

Impac in New Partnership on Non-QM Securitization

Impac Mortgage Holdings Inc. has partnered with the private equity firm Starwood Property Trust on the origination and securitization of non-QM residential mortgages. According to the companies, this new strategic relationship will enable Impac to ramp up its non-QM loan production, with Starwood agreeing to purchase up to $600 million of these loans over the next 12 months. Starwood is working on an initial securitization that will be 100 percent backed by Impac’s nonQM collateral, and Impac expects to co-invest in these securities and in future Starwood securitizations. “We are pleased to have Starwood as a partner in the creation of responsible alternative loan products that satisfy both consumer need and capital market demand,” said George A. Mangiaracina, President of Irvine, Calif.-based Impac. “After having collaborated in the non-QM space for several years, we are excited to formalize our existing Starwood relationship. This arrangement will further Impac's competitive advantage in the non-agency segment of the residential mortgage market and permit the company to participate in the longer-term economics of the loans we originate.” “We are excited to formalize our partnership with Impac, which we believe will help scale our opportunity to provide nonQM loans to high-quality borrowers while sourcing investments that will continue to deliver strong risk adjusted returns for Starwood Property Trust shareholders,” added Steven Ujvary, Senior Vice President of Starwood Capital Group, the parent company of Starwood Property Trust. Premier Nationwide Lending Announces Company Rebrand

Premier Nationwide Lending has launched an updated logo, new Web site, and an overall company rebrand. The new platforms can be viewed at continued on page 82

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The Mortgage Bankers Association (MBA) has presented its annual Burton C. Wood Legislative Service Award to Primary Residential Mortgage Inc. (PRMI) Chief Executive Officer David Zitting, CMB. The Award is given annually to an MBA member employee in recognition of sustained superior service to the association and the real estate finance industry as a whole. Zitting currently sits on the MBA Board of Directors and Residential Board of Governors (RESBOG). He is an active

participant in MORPAC and his company has enrolled the sixth highest number of total Mortgage Action Alliance (MAA) members in the country. He is actively engaged with key policymakers in the Utah delegation and has helped MBA achieve positive results on behalf of the industry through dedicated advocacy at both the state and federal levels. “David has been a consistent advocate for MBA thanks to his tireless outreach to policymakers and champion of key issues affecting our industry,” said Dave Motley, CMB, President of Colonial Savings and Chairman of MBA. “His deep involvement in both MAA and MORPAC reinforce David’s commitment to advocacy.” The Award is named after the late MBA Legislative Counsel Burton C. Wood, who devoted more than 30 years of service to MBA's advocacy efforts and passed away in 2010. Wood was the first recipient of the award in 1990, and his lobbying skills gained the respect and attention of both Republicans and Democrats alike.

our shared goal of transforming the industry.” AIVA reads, comprehends and draws conclusions based on context to mimic cognitive thinking and build expertise over time. HeavyWater has been providing this solution to help lenders verify income, assets and insurance coverage, which are traditionally manual activities that take hours to complete and are prone to error. Clients benefit from accelerated processes and reduced expenses as AIVA gains experience and manual routines are automated. “Our focus has always been on pioneering research in machine learning and artificial intelligence and applying it to the financial services industry,” said Soofi Safavi, Chief Executive Officer of HeavyWater. “By using sophisticated neural networks and ‘contextual knowledge’ to continuously improve AIVA’s learning and performance, we’ve helped our clients save money, increase efficiencies and reduce turn time.”

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streamlines the origination process while also effectively mitigating valuation-related risk." The VeroPRECISION Valuation Decision Engine is available through VeroSELECT, Veros’ vendor-agnostic, singleenterprise management platform, which provides access to a comprehensive suite of more than 25 innovative collateral risk solutions from 15-plus vendors, helping lenders best assess collateral values at origination and across existing portfolios. In addition to VeroPRECISION, Accurate Group’s ValueNet suite and the VeroVALUE suite of valuation products, VeroSELECT also offers AVM Cascade Management, VeroBPO Broker Price Opinions, VeroPHOTO Plus: Property Condition Reports, and Veros’ proprietary, best-in-class valuation forecasting tool, VeroFORECAST. Frank Guarnera, Executive Director of Valuations for Accurate Group, said, “Accurate Group is committed to delivering our clients the fastest, most accurate property appraisal on every order. By partnering with Veros to leverage VeroPRECISION, we are able to more quickly identify the best appraisal approach, saving valuable time in responding to lender and servicer requests. Our combined approach reduces turn time and cost, while also improving the quality of property valuations.”

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LoansbyPremier.com. Announced earlier this year, Premier’s rebranding efforts have been steered by Murdock Richard, the organization’s Founder and Chief Executive Officer, in partnership with The Richards Group, a design and branding agency. Anisa Johnson, a longtime veteran of the mortgage industry, was hired as Vice President of Marketing to help spearhead the project. “The time and resources that have been invested in our new system will enable us to provide more responsive customer service by making our loan process easier,” Richard said. “It will provide timely customer updates and permit us to consistently market to our everexpanding client base. One of our most important developmental goals is to help establish a lifetime customer base, earned by providing exemplary service one client at a time.” The new site and new branding suite will also better reflect Premier’s reputation for providing stellar customer service and exceeding expectations during the mortgage process according to Kyle Purdy, Brand Manager at The Richards Group. “Their new branding more accurately reflects the company’s culture of innovation, creativity, and commitment to customer service,” said Purdy. “Implementing such a bold change requires courage and foresight, and their decision to do so will catapult them to a premier leadership position in the industry. Clean, intuitive and consumer-friendly—a very simple interface for both customers and their loan officers. We at The Richards Group are very fortunate Premier chose us to help them bring this to the market.” MCT Announces Integration With LendingQB

LendingQB and Mortgage Capital Trading (MCT) have announced an integration between the LendingQB loan origination platform and the new Bid Auction Manager (BAM) technology within the MCTlive! secondary marketing software platform. Combining the two systems will

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enable mortgage lenders to utilize a pure digital ‘closed loop’ secondary marketing process, drastically reducing time and cost, while improving loan sale profitability. BAM is a powerful new bid tape management technology designed by MCT Chief Operating Officer and industry veteran, Phil Rasori. BAM migrates the bidding and selling of loans to investors out of unsecure emails and into a convenient platform, eliminating the time and effort needed to manually collect, analyze, and commit loan sale executions. "BAM provides a better way for lenders to manage their bid tapes and achieve best execution,” said Tom Farmer, Managing Director at MCT. “The secure bidding portal lets investors communicate instantly with lenders, completely eliminating exporting and emailing of bid tape spreadsheets. Using BAM, secondary can easily solicit bids from every single investor they work with, increasing the opportunity to sell loans at a better price.” David Colwell, Vice President of Strategy at LendingQB, said, "LendingQB and MCT are changing the way that secondary marketing is done. We now have the ability to manage a 'closed loop' secondary marketing process: originate, price, lock, execute trades and then store the commitment in an entirely digital fashion. Lenders and investors are able to communicate and respond to each other quickly and accurately. This is the future of secondary marketing." WFG Acquires WashingtonBased Title Firm

WFG National Title Insurance Company, a Williston Financial Group company, has acquired Spokane, Wash.-based Inland Professional Title LLC. Inland Professional Title is a title and settlement services provider serving Okanogan and Spokane Counties in Washington, operating five offices in those counties and has 65 employees. Former Owner/County Manager Kevin Ferguson will become an Executive Vice President with Inland Professional Title and continue to manage the operation, which will soon

undergo a name change to “WFG National Title Company of Eastern WA.” “We are delighted and honored to be able to add the Inland Professional staff and client base to the WFG community,” said Patrick Stone, Chairman and Chief Executive Officer of Williston Financial Group. “Like WFG, Inland Professional Title has always regarded itself as a part of its clients’ process, and has conducted its business with the upmost professionalism.” Mortgage professionals to watch l ACES Risk Management (ARMCO) has announced that former Director of Client Services Sharon Reichhardt has been promoted to Vice President of Client Success. ARMCO has also announced that it has hired Nick Volpe as Chief Strategy Officer, where he will be charged with expanding the adoption of ACES Audit Technology across financial enterprises and shepherding new solutions to market via ARMCO’s consultative approach to customer challenges. l TMS has added four to its leadership team to support the fintech company’s expanding $26 billion portfolio. With this new servicing development, TMS has named Michael Chiarella as Executive Vice President of Risk, Nathan Sands as Executive Vice President of Core Servicing, Jason Kwasny as Senior Vice President of Default Servicing, and Anthony Forsberg as Senior Vice President of Default. TMS has also announced the addition of Tom Gillis to lead the company’s West Correspondent Sales team as Senior Vice President of Correspondent Sales. Gillis will work alongside DJ Ziggas, who recently joined the company as Senior Vice President of Correspondent Lending and oversees the company’s East Division. l Cloudvirga has announced that company Co-Founder Kyle Kamrooz has been accepted into the Forbes Finance Council, an invitationonly community for seniorlevel finance executives. Kamrooz joins other handselected Forbes Finance Council members in becoming part of a curated network of successful peers with access

to a variety of exclusive benefits and resources. Abrams Garfinkel Margolis Bergson LLP (AGMB) has announced that Neil B. Garfinkel, the firm’s Managing Partner and the Partner in Charge of its Real Estate and Banking Practices, has been appointed to the New York State Real Estate Board by Gov. Andrew M. Cuomo. AGMB has also announced that Michael G. Barone, the Managing Partner of the firm’s Mortgage Compliance Practice, has been named Counsel to the New York Association of Mortgage Brokers (NYAMB). The firm already serves as Counsel to the Empire State Mortgage Banking Association (ESMBA). Sierra Pacific Mortgage Company has named John Goulding Divisional Sales Leader for the East Coast. Based out of South Carolina, Goulding will oversee the retail sales team for all of the East and Midwest markets. U.S. Mortgage Corp. has hired Steven J. Sless as its new National Reverse Mortgage Director. In his new role, Sless will work with Loan Officers and Managers across all company platforms to increase sales and improve back-office operations related to the company’s reverse mortgage product. LERETA LLC has promoted Susan M. Portnoy to Senior Vice President of Enterprise Operations. Plaza Home Mortgage has announced the promotion of Michael Fontaine to the role of Chief Operating Officer, in addition to his role as Chief Financial Officer. Fontaine will oversee day-to-day operations of Plaza’s businesses nationally, strategic initiatives and financial management, reporting to Kevin Parra, Plaza Home Mortgage’s President and Chief Executive Officer. LenderClose has announced the addition of Sales Executive Benjamin Dinkins to its growing team of industry experts. Dinkins will focus on building relationships with credit unions and community banks, introducing them to the competitive differentiation that comes from integrating LenderClose. OpenClose has announced that it has added Senior Software LOS and Mortgage Software Development expert Joseph

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.

five ways to get ahead

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“Digital marketing is prone to rapid change, and not embracing a cutting-edge strategy could put you behind the curve.” should allow you to cover about 500,000 to one million people. 3. Optimize the frequency of your social contacts How many times per week are you putting yourself in front of your audience? If your aim is to generate leads, it should be about 12 times. If you’re looking to drive conversions using clicks or Messenger, you should aim for about four to six impressions per week. 4. Enable chatbots that nurture leads Synchronize Messenger with a chatbot, and create a message tree based on the questions prospects will most likely ask when they are considering mortgage options. Put yourself in your customers’ shoes, asking the obvious questions they might have: “What kind of credit score do I need?” “How much will it cost?” “How soon can I get started?” Plug as many answers as you can into your chatbot, which will enable the software to cultivate leads for you in Messenger. 5. Retarget people who engage with your Web site You definitely want to retarget people who visit your Web site, but you should not do this solely based on Web clicks. Some of these clicks might be an accident, so you could easily

waste money appealing to a flawed audience. Instead, retarget people who arrived at your site and then clicked on an internal link—it doesn’t particularly matter which one. Above all else, it’s important to have an open mind when it comes to digital marketing. I’m a member of Facebook’s Small Business Council, which gives me a sneak peek of future trends in the digital marketing space. I recently attended a Council gathering with Mark Zuckerberg at Facebook headquarters, and one of the biggest takeaways was how important the relatively new Facebook Stories will become. When people scroll through their News Feeds, Facebook Stories remain at the top of the feed. If your Facebook Page has a significant number of Likes, you would be wise to seize the opportunity to get your message in front of consumers. Big changes can happen rapidly in digital marketing. Knowing how to respond to these sudden changes is key to keeping your organization relevant, but remember that digital marketing is a marathon rather than a sprint. Don’t feel overwhelmed by the wealth of tools and platforms at your fingertips—start with the five steps above to begin your journey into a wide and rewarding world of possibilities.

Bud Torcom is the Chief Executive Officer and CoFounder of Mazama Media, a digital marketing agency that offers high-quality social media solutions for businesses. Mazama Media focuses on the individual needs and personalities of clients to create unique and engaging social media content, and the company is part of the prestigious Facebook Small Business Council. Bud is also a member of the Forbes Agency Council.

n National Mortgage Professional Magazine n JULY 2018

matters for the company. l Home Point Financial Corporation has announced that it has added Joe Griffin and Lynn Collins as Correspondent Institutions Managers. l WEST, a Williston Financial Group/Golden Gate Capital Holding, has announced that Marty Frame has been appointed as the company’s Chief Operating Officer. The position will support WEST’s ongoing advances in creating the ultimate real estate technology experience for real estate agents, brokers and consumers. l NewDay USA has appointed David Loeser Vice Chairman to the company's Board of Advisors and will be serving as Executive Vice President of Human Resources. A strategic management and human resources expert with more than 30 years of experience working for top multinational brands, Loeser will lend his skills and expertise to direct the company's recruiting and staffing efforts. l LRES Corporation has hired Frank Obregon to serve as its Commercial Appraisal Manager. Obregon will lead the LRES Commercial Appraisal Department, including management of the team’s operations. He will also oversee the development of the company’s commercial product line and will assist in the identification of business opportunities. l Pavaso has appointed Cheryl Baillis as Executive Vice President of Operations. l Mortgage Guaranty Insurance Corporation (MGIC) has announced the addition of Leonard Murray as Account Manager in the West Central Region.

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Wade to its growing development team. United Fidelity Funding West (UFFWest) has added Victoria Dunn as National Wholesale Account Executive. Paul Katz has joined Promontory MortgagePath as Head of Bank Relations; Scott Stein has joined the company’s technology unit, PromonTech, as Regional Vice President of Sales; and David Sears has joined the company’s fulfillment unit, Promontory Fulfillment Services, as Regional Sales Director. Mortgage Network Inc. has announced the opening of a new branch office in Charlotte, N.C., to be managed by Ray Patterson, who comes to Mortgage Network from Wells Fargo Home Mortgage. Mortgage Network Inc. has also announced the opening of a new branch office in Bluffton, S.C., to be managed by Brian Neumann, a 14-year veteran of the residential mortgage industry who has spent the past 12 years at Mortgage Network. Angel Oak Mortgage Solutions continues its strong start to 2018 with the addition of four new Account Executives, adding Craig Murphy in San Antonio, Texas; Alina Derzhay in Ft. Lauderdale, Fla.; Jeremiah Carlson in Salt Lake City; and Denise Maccone in Northern New Jersey. Ocwen has announced that its Board of Directors has appointed John V. Britti as interim Chief Executive Officer (CEO). Britti currently serves as Ocwen’s Executive Vice President and Chief Investment Officer, and will continue in these roles during his tenure as interim CEO. The Mortgage Bankers Association (MBA) has announced that Susan T. Stewart, Chief Executive Officer of SWBC Mortgage, has been nominated to serve as Vice Chairman for the 2019 membership year. She will be elected by MBA members at the Association’s 105th Annual Convention this October in Washington, D.C. Planet Home Lending has announced that Dierk Hohman has joined the company as Executive Vice President, Chief General Counsel and Enterprise Risk Officer, overseeing all legal, compliance and enterprise risk

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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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We are pleased to announce a new package that will give your firm the recruiting tools to instantly shift your recruiting efforts into high gear using a multimedia, market-saturating approach. We will utilize the most successful methods that our clients have been using to find, identify and place top talents for your company. We have designed these packages with the concept of making it less expensive to give you the ability to reach more people.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE 1220 Wantagh Avenue Wantagh, New York 11793-2202 516-409-5555 Fax: 516-409-4600 E-mail: advertise@MortgageNewsNetwork.com

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calendar of events

JULY 2018 Monday-Tuesday, July 30-31 Summer CAMP 2018: Destination Coronado! Coronado Island Marriott Resort & Spa 2000 Second Street Coronado, Calif. For more information, visit TheCAMPSite.org.

Sunday-Tuesday, September 16-18 MBA’s 2018 Regulatory Compliance Conference Grand Hyatt Washington 1000 H Street • Washington, D.C. For more information, visit MBA.org. Tuesday, September 18 NAMMBA Connect 2018 D.C. Double Tree by Hilton Tyson’s Corner 1960A Chain Bridge Road McLean, Va. For more information, visit Connect2018.org.

AUGUST 2018 Wednesday-Saturday, August 15-18 Florida Association of Mortgage Professionals 2018 Annual Convention & Trade Show Walt Disney World Dolphin 1500 Epcot Resorts Boulevard Lake Buena Vista, Fla. For more information, visit MyFAMP.org.

Sunday-Tuesday, September 23-25 2018 Northeast Conference of Mortgage Brokers & Professionals Harrah’s Resort & Convention Center 777 Harrah’s Boulevard Atlantic City, N.J. For more information, visit EventsMBANJ.net. Sunday-Tuesday, September 23-25 MBA’s 2018 Risk Management, QA & Fraud Prevention Forum JW Marriott Los Angeles L.A. LIVE 900 West Olympic Boulevard Los Angeles For more information, visit MBA.org.

Friday, September 7 UAMP Annual Mortgage Expo Marriott @ City Creek 75 South West Temple Salt Lake City, Utah For more information, visit UAMP.net.

Thursday, September 13 NAMB, YMPA and NAPMW Present: NAMB Swarm One Burlington Mall Road Burlington, Mass. For more information, visit NAMB.org.

Wednesday-Thursday, October 10-11 NYAMB’s 2018 Fall Convention & Trade Show Long Island Marriott 101 James Doolittle Boulevard Uniondale, N.Y. For more information, visit NYAMB.org.

Sunday-Wednesday, October 1417 Mortgage Bankers Association 2018 Annual Conference & Trade Show Walter E. Washington Convention Center 801 Mt. Vernon Place NW Washington, D.C. For more information, visit MBA.org.

Thursday, November 15 NAMMBA Connect 2018 Orlando Doubletree by Hilton Orlando Seaworld 10100 International Drive Orlando, Fla. For more information, visit Connect2018.org.

Wednesday, October 24 NAMMBA Connect 2018 Dallas Addison Conference Center 15650 Addison Road Addison, Texas For more information, visit Connect2018.org.

Tuesday-Wednesday, November 27-28 MBA’s Summit On Diversity and Inclusion Capital Hilton 1001 16th Street NW Washington, D.C. For more information, visit MBA.org.

Sunday-Tuesday, October 28-30 2018 NRMLA Annual Meeting & Expo Hilton San Diego Bayfront 1 Park Boulevard San Diego For more information, visit NRMLAOnline.org.

DECEMBER 2018 Saturday-Monday, December 8-10 NAMB National 2018 Caesars Palace 3570 South Las Vegas Boulevard Las Vegas For more information, visit NAMB.org.

NOVEMBER 2018 Tuesday-Thursday, November 6-8 NCRA 26th Annual Conference 2018 Atlantis Casino Resort Spa 3800 South Virginia Street Reno, Nev. For more information, visit NCRAInc.org.

MAY 2019 Saturday-Tuesday, May 4-7 NAMB 2019 Legislative & Conference Liaison Capitol Hill Hotel 415 New Jersey Avenue NW Washington, D.C. For more information, visit NAMB.org.

Wednesday, November 7 NAMMBA Connect 2018 Irvine Irvine Marriott 18000 Von Karman Avenue Irvine, Calif. For more information, visit Connect2018.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.

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.

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Tuesday-Wednesday, September 11-12 MBA’s 2018 Human Resources Symposium Renaissance Arlington Capital View 2850 South Potomac Avenue Arlington, Va. For more information, visit MBA.org.

OCTOBER 2018 Wednesday, October 3 NAMMBA Connect 2018 Greensboro Sheraton Greensboro at Four Seasons 3121 West Gate City Boulevard Greensboro, N.C. For more information, visit Connect2018.org.

Monday-Wednesday, November 12-14 MBA’s 2018 Accounting and Financial Management Conference Hyatt Regency Orlando 9801 International Drive Orlando, Fla. For more information, visit MBA.org.

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SEPTEMBER 2018 Thursday, September 6 NAMMBA Connect 2018 Chicago Hilton Oaklawn 9333 South Cicero Avenue Oak Lawn, Ill. For more information, visit Connect2018.org.

Saturday, October 13 mPowering You: MBA’s Summit for Women in Real Estate Finance Walter E. Washington Convention Center 801 Mount Vernon Place NW Washington, D.C. For more information, visit MBA.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.

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REMN Wholesale www.remnwholesale.com 866-933-6342 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. Interested in joining our Wholesale Division? Send your resume to aerecruiting@remn.com

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PUBLICATIONS

NationalMortgageProfessional.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.

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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