JULY 2020
nmp
Volume 12, Issue 7
MOST CONNECTED MORTGAGE PROS
A special section on social media MAKE YOUR DATA WORK FOR YOU
BIGGER IS BUSTING OUT NEW HOME SIZES WILL CHALLENGE ORIGINATORS
TOP SALES TIPS
STEARN LESSONS He’s had downs and ups. Then Glenn Stearns had an idea for a new kind of mortgage lender
BACK COVER
nmp
JULY 2020
FRONT COVER
Volume 12, Issue 7
MOST CONNECTED MORTGAGE PROS
A special section on social media MAKE YOUR DATA WORK FOR YOU
BIGGER IS BUSTING OUT NEW HOME SIZES WILL CHALLENGE ORIGINATORS
TOP SALES TIPS
STEARN LESSONS He’s had downs and ups. Then Glenn Stearns had an idea for a new kind of mortgage lender
Experience The Difference MORE Expertise MORE Service MORE Technology Experience the Biggest and Best Originator of Non-QM1 Visit AngelOakMS.com | 855.631.9943 Š Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 980 Hammond Drive, Suite 850, Atlanta, GA, 30328. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-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 qualify for the program. Angel Oak Mortgage Solutions LLC is an Equal Opportunity Lender and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, other classifications protected under Fair Housing Act of 1968. 1Inside Nonconforming Markets, August 30, 2019. Based on Google reviews of comparable lenders. MS_A052_0520
The Leader in Non-QM 2
| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
Volume 12 Number 7 JULY 2020
CONTENTS
nationalmortgageprofessional.com
6 Flexibility & Size Are Important Homebuyers are searching for homes that are both bigger and adjustable.
14 The Mortgage Godfather: Hang Ten For Positivity What you can learn from getting knocked down at the beach.
22 My First Million Dollars: Using Your Best Asset How to generate leads from what you already possess.
8 The Beckwith Blog: Slowdowns Don’t Mean Knockouts How to avoid turning small problems into major adversity.
17 People On The Move See who the movers and shakers are in the mortgage industry.
24 The Wild Kingdom Makes You A Leader Learn how to be a leader from these animal lessons.
10 Building Better Mentors Mentorships fail if they are all show and no tell.
18 Build-A-Broker: What’s Changed In Digital Marketing How to market during a pandemic that prohibits inperson contacts.
13 Tackling The Credit Issues With Forbearance Help your clients recover quickly so they can refinance
18 Build-A-Broker: Video Boot Camp Video marketing can be simple yet effective when you follow these steps.
26 New To Market The new products impacting your dayto-day work. 28 Special Recognition: NMP’s Most Connected Our annual look at the most connected on social media.
34 Six Tips To Boost Your Presence Simple steps to stand out among social media users. 37 Special Section: Getting The Most Out Of Social Media Make It Less Personal Your competition on social media is everybody – not just other originators. 41 Heard on NMP TV 50 The Best Coaching Advice Tackling stress and high volume can be done with help from the experts.
>
55 My Best Deal: Mi Familia Manuel Martinez finds happiness in finding eight siblings their first homes. 57 NMP News Flash 62 The Price Of Protection LGBT community pays higher prices for friendlier markets. 66 NMP Calendar of Events 68 Facebook Thoughts: Quarantine Lessons & Drinking Cottage Cheese
COVER STORY PAGE 42
Glenn Stearns Returns This time around he thinks kindness is his path to success.
NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |
3
JULY 2020
nmp
JULY 2020
NAT IONAL MORTG AG E PROF E SSIONAL MAG AZ INE
Volume 12, Issue 7
MOST CONNECTED MORTGAGE PROS
A special section on social media MAKE YOUR DATA WORK FOR YOU
BIGGER IS BUSTING OUT
STEARN LESSONS He’s had downs and ups. Then Glenn Stearns had an idea for a new kind of mortgage lender
NEW HOME SIZES WILL CHALLENGE ORIGINATORS
TOP SALES TIPS JUNE 2020
LETTER FROM THE PUBLISHER
The Nick Knack
STAFF
Nick Roberson is our kind of guy. If you’ve been to a mortgage industry conference, you’ve probably run into him. He’s not an originator, but a vendor, currently working for Act Appraisals. He’s a big guy, with a winning smile and a quick laugh.
ASSOCIATE PUBLISHER Beverly Bolnick
Nick is one of the people who make this industry truly a joy to be part of. He’s friendly and polite, knowledgeable and helpful. He’ll dig in and lend a hand without being asked. He volunteers for industry trade groups – he serves a couple of committees for the California Association of Mortgage Professionals, for instance – and, unlike some who just want to see their names listed, actually shows up to do the work he volunteered for. Nick is the kind of quick witted guy who just slips one-liners out that perfectly capture the moment, like his “Quarantine Lesson #19: If your neighbors are ever worried about their landscapers because they haven’t shown up on time, just schedule any virtual class or meeting. Trust me they will show up in all of their mowing leaf blowing glory.” It’s why we’re proud to feature his Facebook posts as a column here in National Mortgage Professional. We like to close the issue out with a little bit of his levity and wry thoughts. Hey, in these dark days, who doesn’t want a little something to lift the spirit?
MESSAGE ME
We hope you’ll read Nick’s page this issue. We certainly hope you enjoy his unique take on life. But we also hope you’ll pause for a moment to read the last item on his page. Here is where Nick Roberson diverges from the funny to ask for a little fortitude. We hear of a nation divided. We see comments on social media where reasonable people tear viciously into folks who simply have a different point of view. There is a palpable sense of “us v. them” in the air, where it’s supposedly acceptable for only us or them to win. Our cover story on Glenn Stearns is about how an industry titan and legend is trying to start a new company based on a foundation of kindness. Having a company culture of being good to each other is wonderful. But culture comes from the ground up, from the way individuals conduct themselves. And leadership isn’t demonstrated by the folks in charge. It’s why it’s important to see folks like Nick step beyond their usual message, to speak to a need for all of us to step back, cool down, appreciate everyone regardless of difference, and give everyone a virtual hug. It’s the knack of being respectful and supportive that we can all learn from Nick.
VI N C E N T M . VALVO Publisher, Editor & CEO 4
Volume 12, Number 7
| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
CEO, PUBLISHER & EDITOR Vincent M. Valvo
MANAGING EDITOR Keith Griffin SENIOR EDITOR Eric C. Peck CONTRIBUTING WRITERS Christine Beckwith, George Yacik, Lew Sichelman, Ralph LoVuolo, Harvey Mackay, Nick Roberson, Pam Marron GRAPHIC DESIGN MANAGER Stacy Murray INTERACTIVE DESIGN DIRECTOR Alison Valvo USER EXPERIENCE DESIGNER Billy Valvo ONLINE CONTENT DIRECTOR Navindra Persaud MARKETING & EVENT ASSOCIATE Melissa Pianin HEAD OF ENGAGEMENT AND OUTREACH Andrew Berman CLIENT SUCCESS COORDINATOR Jaclyn Leitermann FOUNDING PUBLISHER Joel Berman
Submit your news to editorial@ambizmedia.com If you would like additional copies of National Mortage Professional Call (860) 719-1991 or email info@ambizmedia.com
www.ambizmedia.com
© 2020 American Business Media LLC All rights reserved. National Mortgage Professional magazine is a trademark of American Business Media LLC. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to: American Business Media LLC 345 North Main St., Suite 313 West Hartford, CT 06117 Phone: (860) 719-1991 info@ambizmedia.com
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Interested? Request a demo: 1.800.362.2599 sales@calyxsoftware.com | calyxsoftware.com NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |
5
LEW SICHELMAN
THE MORTGAGE SCENE
Size Matters The changing face of new homes: Bigger, adjustable houses on the way
BY LEW SICHELMAN | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL
M
ortgage originators should get ready: a trend in new home construction that favors first-time buyers is about to end. For the last four years, the size of new single-family houses has been trending downward as builders added entry-level houses to their model home mix to boost supply to an inventory-starved market. But the National Association of Home Builders says its members probably will reverse course as buyers seek more space as a result of the pandemic. Actually, there already are signs of the shift. In this year’s first quarter, the Census Bureau found that median single-family floor area ticked up to 2,291 square feet from 2,252 in last year’s fourth quarter. A small gain, to be sure. But while a June survey by John Burns Real Estate Consulting of 5,000 recent buyers found that more than twothirds cited COVID-19 as the reason they moved, many also did because they disliked the layout
of their previous homes and wanted more space.
SF SQUARED But even before the pandemic struck, the size of a house was important, according to a poll of nearly 1,800 people in late February and early March by Michigan-based builder Lombardo Homes. Price was paramount, of course, but size was more important than layout, schools or even property taxes. Buyers are likely to find houses with more space in the suburbs, exurbs and distant outposts. In this instance, though, while the virus has accelerated the flow outward, the shift away from cities is driven largely by demographics and has been underway for last two-plus years. Todd LaRue of the RCLCO real estate advisory firm points out that the highest percentage ever of millennial households with children still at home are now passing through their prime home buying ages of 34 to 44 years. And for the most part, they are moving away from urban locations to take advantage of low loan costs to buy a first house or move up to a newer place. The shift, Tim Sullivan of Meyers Research agrees, will be good for secondary and tertiary markets where the cost-of-living is less.
WHERE SMALL IS GOOD Already, the NAHB is seeing construction expanding at a more rapid rate in smaller cities and rural areas. Before the pandemic hit full throttle in March, the builder group found activity increasing
at a higher rate in inner and outer suburbs than in high-density places. And while the pace of construction was increasing everywhere prior to the lockdown, the outlying suburbs registered the strong growth. What is the extra space likely to look like? With the movement to work from home, count on more square footage for a home office, whether it be a room dedicated as such or an extra bedroom that can easily be converted. “For years, people were scared of working from home,” said one Urban Land Institute member during a recent digital happy hour. “Now they are seeing it can and does work.” The same goes for employers, who have since discovered their workers can be just as productive working from home, if not more so. More and more companies are joining the likes of Twitter, American Express and Morgan Stanley, all of which have told their employees they can work from home, either through the end of the year or forever. “Some companies,” offers Sullivan of Meyers Research, “may never go back to office space.” NAHB studies show many buyers always wanted a home office. In its last survey, in 2018, 65% said it was a key feature on their shopping lists, and the builder group says that percentage is likely to grow. And that’s another trend allowing people to live in places where the cost of living is less, the air is cleaner and nature is right outside their front doors. Another strong possibility: An in-house gym, or maybe a at least a dead-end hallway that has been dubbed the “Peleton room” where
How about a larger entry that acts more like a laundry room where you could not only wash your hands but also remove your clothing and throw it into the washing machine? an exercise bike can be parked. Fitness rooms will be important “for work, school and play,” Meyers’ Molly Carmichael offers.
SPACE FORCE
Photo credit: Halfpoint via Getty Images
Of course, there’s “only a finite amount of space” with which builders can work before the cost of their products becomes prohibitive, Dan DiClerico of HomeAdvisor points out. Consequently, he and others believe there will be a major “redistribution of space” in newer models. Open floor plans are likely to bite the dust. In their place will be more defined rooms, some designated as multi-purpose. A spare bedroom, for example, could be shown with a murphy bed that can be pushed up into the wall so kids can use the space as a play room, Dad can use it as a home office and Mom can use it for exercise or a hobby. Younger buyers, in particular, “displayed a clear preference for flexible spaces in their next home” in the latest national survey by Atlantabased home builder Ashton Woods. “Instead of rooms dedicated to just
one purpose, home buyers now want a living, breathing floor plan that can flex as their lives change,” says Jay Kallos, the firm’s senior vice president for architecture. “They want it to adapt easily for when they’re newlyweds, starting a family, becoming empty nesters and even inviting family back into the home later in life with aging parents or boomerang kids.” “Houses need more flex space,” agrees Sullivan, who says “builders can learn a lot from how RVs and sailboats use flex space.” Spacious kitchens going forward could be less so. “Fewer people are going to want the great big open rooms that include the kitchen, with more now wanting the kitchen to return to having some separation to hide the smells, mess and noise,” suggests Bill Ramsey of the Denver architectural firm, KTGY. Kitchens will be more hygienic, too, says DiClerico, with low maintenance, solid surface, non-porous countertops that resist germs and can be wiped clean. “Housing is one of the few things that can be made contactless,” agrees Ali Wolf, chief economist at
Meyers Research. “They can be easily sterilized.” Big master bathrooms also could become smaller, with rimless wallmounted toilets. Already popular in Europe, these fixtures are easier to clean, inside, outside and particularly underneath. “Buyers want their experience to be a frictionless as possible,” DeClerico says.
TINKERING IN THE GARAGE Space may also be found in the garage. Even though most people don’t park their vehicles in their garages, two-car pads are the norm nowadays. Nearly two out of three new houses sold in 2019 had two-car garages, and 19% had three bays or more. But how about a one-car garage that can hold two cars, one on the pad and the other on a lift above? Hey, the extra space has to come from somewhere. And if people are working from home, they may need one less car anyway. Finally, Lloyd Alter, an adjunct professor at Ryerson University in Toronto, thinks builders who be wise to adopt some of the teachings of noted Swiss architect La Corbusier, a pioneer of modern architecture in the 20th century, One idea was to place a sink just inside the front door where people could wash their hands before entering. How about a larger entry that acts more like a laundry room where you could not only wash your hands but also remove your clothing and throw it into the washing machine? Or cuspidors instead of sinks where you could spit out toothpaste and mouthwash? These options may sound farfetched now. But in a time when most people are concerned about a spreading killer virus, Alter believes they are “incredibly sensible.”
Lew Sichelman is a contributing writer to National Mortgage Professional magazine. He has been covering the housing and mortgage sectors for 52 years. His syndicated column appears in major newspapers throughout the country. He also has been the real estate editor at two major Washington, D.C., dailies and spent 30 years on the staff of National Mortgage News, formerly National Thrift News.
NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |
7
CHRISTINE BECKWITH
BECKWITH BLOG
Mastering Obstacles And Hurdles Overcoming Adversity What are the things that might slow you down, but not knock you out of the game? BY CHRISTINE BECKWITH | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL
S
o many times, when we have a bad day, it trickles into our week. So many times, when we have a bad week, it becomes our bad month, our bad year. Adversity is hard to overcome, especially when unexpected. And yet … Would you stop your diet all together if you ate a half-gallon of ice cream today? Or would you wake tomorrow and start over again, determined to have more willpower today? How many wrong steps does it take to fall out of new, more productive habits and back into the old, less productive ones? I have been on a three-year personal exercise plan. Midway through, due to unexpected circumstances that mainly had to do with travel, I broke my cycle of exercise and allowed the break to almost completely derail me. Almost. I picked myself up, adjusted the plan and renewed my
commitment. I regained my strength built back up to the level of daily exercise I enjoy today. Accept that obstacles will show up. In every plan, it’s important to expect the unexpected and to prepare. Why do you carry a spare tire in the trunk of your car? Because a flat tire can happen in any journey and the spare will get you to the repair shop to assess and continue moving forward.
OBSTACLES AND HURDLES First, you must think of all the obstacles that could derail your specific plan. What are they? Time? Money? Resources? Be specific when you write these down. What are your hurdles? What are the things that might slow you down, but not knock you out of the game? Kids schedules? Bad market? Think of past adversity that derailed plans and of future and current challenges.
THE REMEDIES Once you write these down, apply a remedy to each. If you said time then write how you can overcome it, get more time towards your plan. Write a schedule if need be. Dissect your existing work hours. What are
you doing with your time now? Once you have these obstacles and hurdles laid out, you can apply your remedies and be more prepared as they present themselves. There are a few golden rules to be sure you include, so remember: 1. Be prepared with a plan to overcome the obstacles and hurdles that will occur! 2. Everyone has real-life factual reasons to sway from a plan. Life happens, takes us off our game. How quickly we get back in is up to us. Look in the mirror and be honest with your own self. Don’t make excuses! 3. Start fresh every day! Every day is a new opportunity! Don’t throw the plan out if you fall off the wagon today! Fact: You will have bad days. Don’t allow those to be weeks and then months. Here is a powerful story I’d like to share that illustrates this philosophy. At this particular time in my career, a lot of things were going right. I was in a great place and successfully managing a branch and rather large team. One day, an
“In every plan, it’s important to expect the unexpected and to prepare.”
underwhelming employee, who had promised in his hiring far greater production than he was delivering, walked into my branch with two peers he had convinced to resign. It was quite the scene. In a series of unfortunate events that followed, I was relieved of my duties. Now, that is the CliffsNotes version of a dramatic series of events that I would rather not relive. At the end of the day, if the team is falling apart, no matter how strong the other members are, the coach is always the one who is let go. In this instance, the repercussions for me were even worse—I was asked to stay on in a different capacity. This was easily the lowest moment in my career, and it felt as though wrong had been done to me, by several parties, but especially by my immediate boss. After assessing what had happened and what lead led up to the final actions, I decided that I would not run from the situation. Instead, I would take the new job I was given, put my head down and work hard. Mind you, the manager who succeeded me, in a rather cruel move on the bosses’ part, had been my live-in boyfriend who worked at the same company. That made for a rather difficult home life for a while; but he was one of the people who convinced me to rise above it and in true fashion of his class, helped me through an otherwise devastating time by defending me, standing by me, and allowing me the time and space to recover and heal.
MAKING MENTAL SHIFTS How difficult was this obstacle to overcome? What kind of mental shifts do you think I had to make to get past this hurdle? The fortitude that it took was unprecedented in my experience, and a couple of years passed before my path corrected. What it took was sheer mental strength, acceptance of the situation, forgiveness to those who had wronged me, humility to accept a lower position, and renewal of my faith to commit to another job and prevail. In hindsight, that horrendous day led to one of the greatest learning experiences of my life. I was set upon
a different career path in a new role that brought to where I am today. Experiencing the lowest of the low showed me more about myself than I thought possible. Setbacks can be a much-needed change, a course correction. However, you have to spend a little time licking wounds, and then immediately look up and forward and not get stuck in the past. And, most importantly, resolve the mistakes made in your mind and move forward.
FIGHT WORK FIRES
to be cognizant of in order to hone the skill. YOU are a firefighter. In order
Plan for the unexpected and keep going. I always say, if you passed a burning building, you would not find 10 firefighters in a huddle trying to find the culprit of the fire while the building burned. We, as human beings, lose so much mental strength and time on trying to find the guy to hang on the cross or licking our own wounds when done wrong. Most work fires that we deal with daily aren’t that big, but still can completely throw a person off. I always say, “Put the fire out; then after, circle back and figure out what happened.” Why? Because when the fire is out, emotion wanes, logical thinking prevails. This is what we all need to do. We also need to wake up each day expecting fires instead of asking, “I wonder if I will have a fire today?” Rather, ask yourself, “When will the fire hit today?” and “How fast can I put it out and get back to productive work?”
to be a great one,
CATCH YOURSELF AND CORRECT COURSE
Christine Beckwith is a 30-year
Top salespeople and the most successful people innately have characteristics that enable them to quickly fix things and get right back to work. This is something you have
understand your role in putting out the fire in the quickest and most efficient way. Many times, we do collateral damage in the process of a fire by being emotional, and in the end, we still have a burned building to repair, and now have mounted more damage on top of the core issues. Those people who master adversity strength, which is something I did not have come naturally to me, are going to be viewed as the strongest leaders. I have been teaching this and observing people for decades now, successfully. It is as simple as maintaining selfawareness. Catch yourself. Correct course. Be aware of where you are in the state of the problem. And help others correct course.
mortgage industry veteran who has broken many glass ceilings and has blazed a trail for many female professionals to come. Christine is president and chief operating officer of 20/20 Vision for Success Coaching and Consulting.
NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |
9
DAVE HERSHMAN
MENTORING CORNER
Be A Better Mentor ‘Mentorship by absorption’ not the ideal way for a novice to succeed
BY DAVE HERSHMAN | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL
The concept of mentoring is quite simple. If you look in the dictionary, there is no complexity at all.
everything from witnessing phone
Mentorship: The activity of giving a younger or lessexperienced person help and advice over a period of time.
completing the file.
conversations, to reviewing loan files and showing “how to” steps to • In addition to listening to the mentee, the mentor should conduct
It is not unusual in this industry for newer originators to have mentors assigned. Some companies have formal mentorship programs in which the mentor makes overrides on the production of the mentee for a certain period of time. Unfortunately, not many of these programs clearly specify the responsibilities of a mentor. As these mentors tend to be senior producers, they do not tend to have a lot of time to dedicate to the task. Mentorship, in reality, becomes more of an exercise of the mentee watching and listening to the mentor in action. Hopefully from this activity, they pick up the knowledge that is needed for them to succeed. Most would agree that this “mentorship by absorption” is not the ideal way for a novice to succeed in the industry. It is exactly why so many entering the industry never
become successful. There are other reasons as well, such as the selection process. But that is another topic for another day. In this article, we will be focusing on what a mentor should be doing to contribute to their mentee’s likelihood of success. So, what should be mentor be doing? • A mentor should make sure that the mentee gets the needed training. Notice we did not say that the mentor should be doing the training. But the mentor should make sure the mentee finishes all required training. So many times, the mentee gets busy and no one is responsible to make sure all training is finished—from basic mortgage knowledge to sales and marketing training. • A mentor should make sure a mentee is introduced to all the functions of the industry. That means scheduling time in different departments so that the mentee gains a greater understanding as to how the entire process works. • The mentor should review the mentee’s work. That can mean
role-playing sessions. That way, he or she will be more prepared when speaking to live prospects. • The mentor should make sure that all tasks are completed before the mentee graduates from the program. If there is not a list of tasks to be completed, then the mentorship program is likely to progress haphazardly. Thinking about becoming a mentor or developing a mentorship program for your company? This is a task to be taken very seriously. Mentorship programs have to be more than an informal coupling of experienced and inexperienced individuals so that one can absorb from the other. They should be formal programs to assure that the mentee can obtain the knowledge and counseling that they need to help them become successful.
Dave Hershman, senior vice president of sales for Weichert Financial Services, is an author with seven books published.
NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |
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| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
FORBEARANCE ISSUES
NMP TV Debuts Webinar Assisting With Forbearance Issues There are unique differences among credit bureaus and GSEs you need to know BY PAMELA M. MARRON | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL
I
There also is no waiting period for borrowers who requested forbearance due to a COVID-19 financial hardship but ultimately were able to make all their payments in full and on time. Freddie Mac also follows these guidelines.
MERIDIAN LINK AND FREDDIE MAC CREDIT INFILE Here are unique differences in credit remarks found among Equifax, Trans Union and Experian on the Meridian Link platform and on Freddie Mac Credit Infiles for a mortgage where the client inquired about a forbearance, but continued to pay and for a student loan where the payment was automatically put into forbearance. Both started on the April payment. On the tri-merged credit report, one mortgage creditor line shows “Account In Forbearance; Payment Deferred” for all three credit bureaus and “No Lates” shown for the account. For the student loans, “Payment Deferred” shows up and “No Lates” show. On the Meridian Link platform, for mortgages, student loans and any account the client may have put into forbearance, click on the link to the far right that shows XP/TU/EF. This link opens to a new page and separates out individual credit for Experian, Trans Union and Equifax credit bureaus. Freddie Mac Credit Infiles
ordered separately in Loan Prospect Advisor shows more variations for forbearance on each credit bureau: EXPERIAN • Mortgage does not show “Forbearance” in remarks. • Open student loans shows “Student Loan Payment Deferred.” EQUIFAX • Mortgage states “Unknown Code: KW.” • Open student loans showing “Payment deferred.” TRANSUNION • Mortgage states “Unknown Code: FOR.” • Open student loans show “No Remarks.” If you have a client that you are having trouble getting approved where forbearance was inquired about, but payments continued to be made, please contact me via email Pam.M.Marron@gmail. com. Consumers can also dispute inaccurate forbearance credit remarks with the Consumer Financial Protection Bureau and the individual credit furnisher. Also, I have heard from more than one client that government student loans have automatically been deferred without the loan holder requesting a deferment. Stay tuned.
Pamela M. Marron is a senior loan originator with Innovative Mortgage Services Inc.
PAM MARRON
was part of a webinar broadcast live on NMP TV (https://nmplink.com/c2h) in late May to explain how loan originators and real estate agents can engage with HUD housing counselors and credit counselors to assist challenged clients. A tab for COVID-19 was added to include up-to-date mortgage industry information. Mortgage professionals have many questions about how credit reporting and scoring will be done on a forbearance so that they can assist clients to recover more quickly with needed refinancing. An issue that may hinder mortgage holders is that some form of forbearance remark is often noted on a mortgage account even if the holder simply inquired about a forbearance. My experience with this issue is that in the first month after the forbearance is inquired about, and even when the client’s account has the forbearance remark, it is possible to continue with a refinance immediately as long as the client qualifies. I have already received a Fannie Mae Approve/Eligible and a Freddie Mac Eligible/Accept in both GSE automated underwriting systems for two clients where staying current after a forbearance inquiry was the case. Fannie Mae’s May 19 press release states there is no waiting period for borrowers who missed payments due to a COVID-19 financial hardship, but have since completed reinstatement by repaying the full amount of the outstanding payments missed during the forbearance period.
NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |
13
ALPH LOVUOLO
THE MORTGAGE GODFATHER
The Surfer And The Child Tenacity is required when the waves of negativity keep knocking you down
BY RALPH LOVUOLO, SR. | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL
T
he waves were rushing to shore as if they were being chased by Poseidon. So many, so fast. So many more than usual by a factor of 10. One after another after another, they were coming from every angle imaginable. I hadn’t even dumped my belongings down, but the unusual churning of the water’s intensity was so strong it immediately caught my attention. The restrictions to be at the beach had been lifted for only a few days and this was my first chance at digging my feet into the sand I love. It had been a very long time since I’d seen the ocean this active. Maybe it was so happy to see us all it was celebrating by showing us just what it could do. But this was really unusual, a bit more like a puppy that has just been given a treat, it was jumping up and down and sideways and throwing itself all over the place. It was also obvious that the tide had just turned.
The great ocean that lay before me was about to produce its great wave of the midday as it started to grow tall and show how its power was a serious threat to a peninsula that was only about 20 feet above the water’s highest level. Walking a short distance from the ramp, I plopped myself down near the rear of the growing, but socially distanced, crowd as far away from the breaking waves as possible. If I was not going in the water, there was no need to take space away from playing children and their parents.
HAPPY CHAIR Facing the water, my beach chair opened as if it too was glad to be there. I usually have a difficult time opening that contraption, but that day, it opened just as it was designed to do. That simple activity alone would have been enough to remember what a glorious day it was. Even though I had taken my spot a good distance from the families that had gathered near the breakers, I was still only about 200 feet from the waters’ edge. As I sat, I positioned my canvas bag about six inches from the right armrest, so that if my phone made the slightest sound, I could quickly silence it by answering. Before I was able to crack open my book, my eyes were drawn to a surfer. He was about 300 yards
out and having a very tough time standing up on his board. It seemed that as soon as he stood, another wave attacked him from a different angle. He’d fall, flailing about in the churning surf until he could collect himself, find his board, climb back on the board to paddle out again. And then the ocean did him in again, and then again. But he didn’t quit and every few minutes, he’d succeed to stay on the board, even though it was for a mere 20 seconds or so. It was obvious that a 20-second ride pleased him because when he wiped-out he quickly made way again out to the approximate spot where he had begun his venture. He was doing all he could to try to beat the god of the sea, but only occasionally, was he able to succeed.
INTROSPECTIVE I had missed this so. I love the ocean beach. Nothing can replace it. So many inland lakes and such try to match the magic, but I’ve never found one that could. In one fell swoop, it calms me, enervates me, inspires me, gratifies me and helps me to do the one thing that nothing else I do can replicate: Think. I’m much more introspective at the beach and in that state, I’ve always been able to enjoy my own company even more. After reading for about an hour, and needing a break, I put my book in my canvas bag and took notice again of another surfer. This guy had replaced the previous one and
was having the same challenges. Then my attention was drawn by a child about 1-year old wobbling toward the waters’ edge. Both arms were in the air on each side of her body so she could hold her balance. She was being watched very intently by what must have been her mother. She started to run right into the water and since it was on a downslope, she fell straight forward on her belly, chest and face, right into a small amount of surf that was left from a used to be wave. But she immediately pushed herself to stand up, still trying to balance herself and laughing so hard it brought a big smile to my face. And then she did it again. But by then, mom had caught up and was so close to catch her as she fell again into the water. Now she stood and started to spit the water and sand she had all over her mouth. Her mom was also laughing as she held her daughter’s hands to stop her from going any further into the water. Mom turned her around to point her away from the water, but the daughter would have none of it, and as soon as mom let go, the little one tried to run into the surf only to fall again.
“To be a success at whatever you do, you need to know your WHY. If you do, you’ll allow many waves to knock you off your feet.” TENACITY Having this experience, absorbing the tenacity of the surfer and child leads me to wax on and on about what I am asking you to see as I see it. These two people separated by about 200 yards and 20 years are simply trying to do the same thing. They want to stay on their feet for an extended period of time, let the waves move them and enjoy a beautiful day at the beach. But they have imbedded firmly in their minds and souls that to do that they need to stay upright. They know their WHY and their willing to take all the falls necessary to accomplish it. I easily equate you to them. I see the three of you as equally intended. You want to accomplish your goals; they want to stay erect. To be a success at whatever you do, you need to know your WHY. If you do, you’ll allow many waves to knock
you off your feet. But you’ll continue to get up, sometimes you’ll catch a wave that will carry you clear through to the beach. My hope for you is that as a salesperson, you’ll act just as the surfer did … you try and try and try. Can you recapture your youth? Can you be like the little girl? Can you throw yourself into the water without realizing the danger? Can you see yourself being watched over carefully by a manager who will protect you from the dangers inherent in your daily tasks? You’ll do all of this if you know your WHY.
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.
Photo credit: EpicStockMedia via Getty Images
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HOW NMP’S MONTHLY SECTION OF HANDS-ON PRACTICAL ADVICE
BUILD-A-BROKER: Use Digital To Replace Face-to-Face Marketing Enlist In Our Video Boot Camp To Make Yourself Go Viral YOUR FIRST MILLION DOLLARS: Don’t Overlook Your Contact Database As Your Greatest Asset: Used Wisely It’s Your Best Tool CAREER TICKER: People On The Move
PEOPLE ON THE MOVE //
> US REO
Partners named Sharon Bartlett executive director of operations. Bartlett brings more than 35 years of experience to the new position.
> Freddie Mac
appointed Christian M. Lown executive vice president and chief financial officer. Lown was previously EVP and CFO at Navient Corporation.
> Total Expert
appointed Josh Lehr as the company’s new director of strategy, consumer direct.
> The Mortgage
Bankers Association announced that Matthew G. Rocco Sr., chairman of the board and CEO of Grandbridge Real Estate Capital, was nominated vice chairman for the 2021 membership year.
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BUILD-A-BROKER
COVID-19’s Impact On Digital Marketing
Use it to replace your face-to-face communication BY NABIL FREIJ | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
D
igital marketing expenditures have significantly increased over the years. Despite reduced marketing budgets due to the spread of COVID-19, digital marketing channels will still dominate. Here is why… Most brick-and-mortar events like fairs, flea markets, conferences, workshops and trade shows scheduled in the second quarter of 2020 have been canceled or will be virtual. Furthermore, future similar event plans this year are very much in limbo. With that, mortgage companies must seek other venues to spend their marketing dollars. They need to continue to build their brands and generate the required leads and sales.
WHY YOU NEED A STRATEGY You must consider digital marketing as a plausible scalable engine of growth for your brokerage. This engine of growth is made of many cylinders, each representing a digital channel. Ideally, you want every channel to be fine-tuned with the others to
deliver the most robust and efficient result for your business. The purpose of your digital marketing strategy is to channel traffic to your website or social media pages, engage your target audience and convert them to leads and sales. With metrics– and they are very abundant in the digital world– you can track all your steps, optimize them, streamline your processes and affect your key performance indicators (KPIs.)
DIGITAL MARKETING UNIQUENESS Digital marketing adds two important elements to traditional marketing. It is immune to social distancing consequences, but more importantly customers leave a forensic trail of evidence in the form of digital data that enables storing, tracking and monetizing every marketing campaign. With an enormous amount of data at your disposal, you can make better informed campaign decisions.
WHAT ARE THE DIGITAL CHANNELS? If you have not ventured into digital marketing yet, here is a summary of the channels available as categorized by Google. Their primary function is to drive traffic to your website:
“What impacts the success of your digital marketing strategy is knowing your unique selling proposition and target market.” PEOPLE ON THE MOVE //
> Sierra Pacific
Mortgage appointed Jeff Lochmandy vice president, divisional sales director for thirdparty originations, joining the company with 30-plus years of industry experience.
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> Interfirst
Mortgage Company named Lou Friedmann chief marketing officer.
> ReverseVision
appointed Carissa Orozco as its new director of business development, strategic partners.
> First Option
Mortgage named Fobby Naghmi executive vice president, national sales manager.
DIGITAL CHANNELS 1. Organic Search
This is when someone enters a set of words or voice prompts into a search engine and consequently gets directed to online content. When one visits that content, it is considered organic traffic. The site owner does not have to pay a fee to the search engine company for this traffic. For organic traffic to materialize, much valuable and relevant content creation and search engine optimization (SEO) work needs to take place. This often takes months if not years to materialize. So organic traffic may not be the short-term solution you seek.
2. Direct
These are users directly visiting your site. For instance, when I want to buy a computer, I go to dell.com or Microsoft.com. When I want to buy a smartphone, I go directly to apple. com. I don’t do a search, I simply type the web address in my browser, or click on a bookmark that I have saved there. This is considered direct traffic. Direct traffic is a function of brand building for your company, products or services. Brand building of your website takes time to accomplish. It is however never too late to start, particularly if you already built a recognized brand.
3. Social
Social media platforms include Facebook, Instagram, LinkedIn, YouTube and Twitter. When people are checking their social media pages, they may see a posting about your company, product, or service with a Learn More link. When they click on it, it will take them to your website. This traffic is tagged as social traffic. Social traffic is not hard to build, but it requires the creation of frequent relevant and engaging content. If your business has a good client base, you can stay in touch with them on social media by reminding them of your value as a loan originator and engaging them with attractive content or offers.
4. Email
This is the traffic generated by your outbound email campaigns and interactions. Someone for instance sees a link embedded in the email, clicks on it, and it takes them to your website. That is considered email traffic. Email traffic is the least costly and can be very effective when done correctly. Leverage your email list as much as you can.
5. Referral
This is referred traffic from one website to another. It is akin to word-of-mouth, but between websites. When backlinks and citations are present on others’ sites back to your site, they will generate traffic flow to your site. Link building is the most ignored digital channel, yet one of the most important ones. Backlinks are critically important due not only to the traffic they generate, but the authority they create for your site.
6. Paid Search
This includes banner ads, pay per click, social media posts boosts, GeoMarketing, GeoFencing, etc. Unlike organic traffic, they require you to pay for each ad, each display, each visit or each conversion. You should consider investing the bulk of your marketing dollars in paid advertising. It is the fastest and easiest, yet costly, way to direct traffic to your website and products.
THE MOST IMPORTANT CHANNELS All digital channels are important, and they each have their own purpose and benefit. Different digital channels also feed off each other, creating important synergies that lead to even more traffic and conversions. For instance, direct and referral traffic will raise your domain authority and therefore increase organic traffic. Organic traffic is perhaps the most coveted channel due to the perception that it is free. But it is not so easy to corner, particularly in the short term. Look into Google’s Pay Per Click options and consider advertising on social media channels like Facebook and Instagram. The cost of ads when done correctly can be justified. Also, with more people stuck at home during this crisis, it is more likely that your ads will land in front of the eyeballs that you target and seek.
FOCUS ON YOUR STRENGTHS As you continue to build your digital marketing strategy, consider the following. If you are a connector or an extrovert, then social media should be the primary channel for you. If, however, you are a good writer or an introvert, a content strategy that leads to organic traffic ought to be on your priority list. Also, keep building your email list and leverage it with your social media ads by creating lookalike audiences. While people tend to overlook email, it can still be one of the most effective channels with the best ROI. As you build your digital marketing strategy, keep adding more channels. Digital marketing tools and techniques give you the ability to monitor with great accuracy the results of every channel to better understand where each is effective and where each can improve. Your aim is to maximize your return on investment. Also, keep in mind that what impacts the success of your digital marketing strategy is knowing your unique selling proposition and target market. Don’t lose focus of either.
SCORE MENTORS CAN HELP If you are not comfortable forging through a digital transformation of your marketing or creating new digital strategies on your own, contact your local SCORE chapter and ask for a mentor experienced with digital marketing techniques. They will help you create a strategy that can turn digital channels into a scalable engine of growth. One that can hopefully propel your company out of this horrific coronavirus economic crisis and into new horizons!
Nabil Freij is a certified SCORE mentor. He is the retired CEO of GlobalVision International Inc.
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BUILD-A-BROKER
How To Become A Video Marketing Master
Brokers and originators can create high-quality videos with this basic boot camp BY BEN HOLLAND | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
V
ideo marketing has become one of the best ways for entrepreneurs to connect with their audience, because we use video for everything from entertainment to information. Moreover, videos can be deeply personal. They are a way for people to connect directly to you, not just through a profile, or a picture. Additionally, customers enjoy ease of use, and nothing is easier to understand than a video. Not to mention that YouTube is one of the largest search engines in the world. YouTube has 2 billion users worldwide and 79% of Internet users have their own YouTube account. Most of all, video is fun and our obsession with it is only growing. So, why isn’t it the first tactic you turn to when you begin marketing?
DON’T IGNORE THIS OPPORTUNITY It’s important to remember that not all clients are the same. Our customers learn in different ways. Many are audio or visual learners, and unless you are using video, you will never reach this particular audience … and let me tell you there are a lot of us. Not to mention, video ads on some platforms
such as Facebook actually get a better click-through-rate. Finally, video is easier than ever to use yourself. Anyone can produce a relatively good video simply by picking up their phone and following a few tips.
MAKE ENGAGING VIDEOS Your videos need to be concise. To maximize the value your videos provide, you need to get to the point. Many content creators make videos without considering a plan first. Ask yourself why you’re making a video, and consider what you want to tell the consumer. There has to be a reason for them to continue watching. Make sure you focus on the first 10 seconds and give your audience something of value in the beginning. Don’t ramble … no one is going to watch all of that. Make sure your videos are concise and to the point. Even with technology as amazing as it is, people can still create videos that viewers don’t want to see. You don’t need a full crew to prepare your video, but if your screen is blurry or it’s too dark, your user is not having a great experience. In general, if you follow these steps you will be able to create a good video. • Use natural lighting (when possible)
• Lift the camera above your head • Prepare a script, or know what you want to say • Don’t be afraid to have multiple takes If you want some great examples of successful videos, you only have to look up Tasty’s recipe videos (Tasty. co). They accomplish exactly what they set out to do. Tasty understands that their audience won’t sit through a long recipe video, so instead, they create short form videos that their audience can consume.
HOW TO CREATE ORIGINAL CONTENT Your personality is the best asset to create original videos. Your individuality is a huge reason why many people are going to click on your videos. If you’re hesitating to create videos because you don’t have any ideas that you like, simply getting started is the first step. You’ll want to become more familiar with the medium and learn how to use it. The more that you experiment, the more that the ideas are going to flow. There are a ton of different types of videos that you can consider creating when you are planning your own video marketing CONTINUED ON PAGE 64
PEOPLE ON THE MOVE //
> Homebridge
Financial Services added a new branch in the Fort Worth, Texas suburb of Aledo to be led by Shonn Cournyer, a 20-year industry veteran.
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> First
Community Mortgage named Brook Benton as assistant vice president.
> LenderClose
selected Martina Schubert as its new chief technology officer. She joins the company with more than 25 years experience.
> Homebridge
Financial Services named Glenn Hodge its Midwest area sales manager, focusing on the Ohio, Kentucky and Indiana tri-state market.
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YOUR FIRST MILLION DOLLARS
Your Greatest Asset Is Your Contact Database
There’s no need to spend more; use your tools wisely BY ADAM SMITH, SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
A
s a loan originator, you only have one job. Do you know what it is? Nope. That’s not it. I could give you another guess or two but I’ll just tell you. Generating leads. Generating leads is your only job. That’s the only thing you have to do. Originating loans means just that. Originating. Once a loan has been originated, your job is done and you only need to focus on originating more loans. The job title isn’t pay stub chaser or closing scheduler. The job is going out and generating more leads. Originating more loans. Just The Tips Coaching is focused on exactly that: lead generation. We are not life coaches. We’re not going to make you better lovers. We’re not even going to help you become better negotiators or closers. You can generate more leads without spending any more money than you already are on crap you don’t need. You don’t need a fancy CRM. You
don’t need to be running paid ads on Facebook. You don’t need to be shelling out cash for complicated funnels. And you certainly don’t need to be sending out mailers and putting you picture on grocery carts. You need to be building and furthering relationships and get to a repeat and referral business that still grows, even if you decide to disappear for a month. I’m hoping you already know that your greatest asset is your contact database. I don’t care what your business owns: this is more valuable. You need to treat it as such. You need to nurture it and grow it. You need to pay attention to it and maintain it. This is a crucial piece of everything you need to do in your lead generation going forward. I think my contact
database is currently about 12,000, maybe more. Start to focus on your contact management. The contact database doesn’t do you any good if you’re not staying in front of those people and have contact management systems in place. You need to be contacting these people. You need to call them, text them, email them, ping them on social media, and so on to ensure you are staying in from of them. We touch those 12,000 people about 40 times a year, each.
TAKE ADVANTAGE What about your email and texting? Are you using it to your advantage? You’re paying for it, one way or another, so you’d better. And what about your email signature file? Is that sculpted in a way that helps you generate even more leads? It should be. Did you know you could have a text signature file? Yeah, you can. And you know you need to be using more social media. You need to be using Facebook and Instagram and
“You need to be building and furthering relationships and get to a repeat and referral business that still grows, even if you decide to disappear for a month.” PEOPLE ON THE MOVE //
> ServiceLink
appointed Yvette Gilmore senior vice president of servicing product strategy, bringing more than 20 years of experience leading servicer relationship and performance management efforts.
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> Nations
Lending added a new branch in Naples, Florida to be led by industry veteran Robert Proulx.
> LenderClose named Samantha Paxson to its board of directors.
> Timothy
Harder is now the national reverse marketing specialist for Fairway Independent Mortgage Corporation.
LinkedIn and Twitter and on and on. You need to work on your profiles. You need to work on your assets. You need to work on your content. You need to work on all of it and eventually you need to pay someone else to do it.
MORE THAN KIDS Facebook is a great tool when you use it properly but we’re not just posting pictures of our kids here. We’re using the algorithm to our advantage and improving our edge rank with every post. We’re making sure our profile info is top notch. And we’re focusing on our business page being active. We’re being intentional about what and when and why we post. And we’re using groups. And messenger. And live video. And all the other tools that affect that algorithm and improve our edge rank so more people see more of our stuff and generate more leads. Instagram is another great tool for generating leads on social media. It isn’t just for the Instagram models, but be one of those if you want as well. But your wall, your stories, Instagram TV, and threads are all important tools in lead generation. You didn’t even know about threads, did you?
HOOKED UP LinkedIn is the epitome of business social media and you need to be using it. Did you know Google and LinkedIn are in bed together? Like, they’ve done real estate deals together, in bed together. Do you know how popular LinkedIn is in Google searches? Do you know what happens when someone
> Hyperion
Mortgage added Senior Mortgage Loan Originator Carol Lynn Upshaw.
refers you, that person Googles you, your LinkedIn profile comes up - and it sucks? And how about Twitter? Do you know that this is still the premier social media platform to find out what is going on with other social media platforms? And that this is the premier social media platform to make initial connections with people you want as advocates? Well, it is. And you need to be learning how to use it and why to use it.
HUGE DEMAND Do you have a YouTube channel? Are you putting regular video content there? Because video is huge. Really huge. It may be one of the most important things in lead generation today so you need to be using YouTube. And how is your tech? Are you using every solid and available app to help make you more productive and minimize your brain damage? What do your campaigns look like? Do you do snail mail? Sending out some awful postcards for a free muffin, are we? Well, how about email, and text and voice mail campaigns? Those are things that people pay attention to instead of your boring mailer finding its way into my waste basket. And are you getting business from your referral partners? You know, the car sales guy, his finance guy, the hairdresser, the jeweler, the florist, the landscaper and a thousand others. Do you know the psychological triggers in people’s lives that make these people
> LRES
Corporation promoted David Sober to vice president, national sales manager, where he will be responsible for revenue growth, as well as supporting strategic mergers and acquisitions.
invaluable to being eyes and ears in the world for you?
WRITING And how about doing some writing? Yup, just like this. Are you contributing to industry publications? How about writing a book? Yeah, we did that too. Writing and getting published is huge for your credibility and for getting recognized. And finally, how is your team structure? Do you know how to hire? How to maintain your company culture? How to do personality profiles? How to determine who is going to do what tasks? Do you want to be able to disappear for a month someday while your business grows? So, whether you’re looking to go from 20 deals a year to 50 or from 50 to a 100 or if you want to build a team that does hundreds of deals a year while you step aside and watch, or even insert yourself into your business where you want and when you want, then Just The Tips Coaching can help you if you come to the “Your First Million Dollars” program at Originator Connect in Las Vegas on Thursday, Aug. 20 at 1:45 p.m. Spend just 15 minutes with us during this program. Whether you want to get your first million, or get to millions and millions, we’ll help you do just that.
Adam P. Smith is the founder, owner, and head coach at Just The Tips Coaching.
> WFG Lender
Services, a Williston Financial Group company, named Jodi Bell vice president of national business development for the company’s Lender Services organization.
> The Mortgage
Bankers Association named Michael Briggs as its new senior vice president and general counsel. He comes from the Federal Deposit Insurance Corporation.
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LEADERSHIP LESSONS
Be An Animal
The natural world presents a lot of natural lessons BY HARVEY MACKAY | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
I
n the Upper Midwest, a sure sign of spring and fall is when geese fly overhead, often honking loudly. I recently discovered the reason. Turns out that Professor Margaret Kuhn’s research revealed that in order to fly long distances, geese rotate their leaders, and they only pick the ones that can handle turbulence. The other birds honk, not from discomfort, but to encourage their leader. I’ve shared lessons from animals over the years. Sometimes, they seem so much more advanced than humans; other times, we learn how not to handle problems. Here are some examples.
HUMAN LOBSTERS If a lobster is left high and dry among rocks, it does not have enough instinct and energy to work its way back to the sea, even though it may only be a few feet away. It waits for the sea to come to it or it will die in its tracks. There are also “human lobsters” in the world that are stranded on the rocks and won’t take a risk. They choose to procrastinate instead of grabbing hold of the problems they face. LESSON: Taking risks is part of life. Not
taking risks can kill a career.
‘DUCKING’ CONFORMITY Thomas J. Watson Jr, who built IBM into a worldwide power, loved to retell a story attributed to Danish philosopher Soren Kierkegaard. Each year a man fed wild ducks at a nearby lake before they flew south for the winter. This encouraged some of the ducks to stick around and grow fat and lazy. The moral is that you can make wild ducks tame, but you can never make tame ducks wild again. And Watson wanted to encourage “wild ducks” at IBM to confront conformity. LESSON: Letting someone else take care of you prevents you from maximizing your potential.
BOILING SLOWLY If you place a frog in a pot of boiling water, it will immediately jump out. However, if you put a frog in room temperature water, it will stay put. But if the temperature gradually increases by 5-10 degrees, the frog continues to stay and becomes groggier and
groggier until it can’t climb out of the pot. The frog will sit there and boil because its sense of survival is geared to sudden changes in its environment, not slow gradual changes. LESSON: Pay attention to changes in your environment or prepare to get burned.
IGNORE THE WARNINGS In an experiment, four monkeys were put in a room with a bunch of bananas hanging overhead. Every time a monkey tried to climb up and grab a banana, it got drenched with cold water. Eventually the monkeys caught on, and they quit climbing up after the fruit. But then, the monkeys were replaced one by one. As the new monkeys tried to climb up after the bananas, the older monkeys would prevent them from climbing. In time, all the original monkeys were replaced. And amazingly, none of the newer group ever tried to climb up to the bananas, even though none of them had ever been splashed with the cold water. LESSON: Don’t avoid new opportunities just because others have failed or have been warned not to even try.
Photo credit: bradleyblackburn via Getty Images
PEOPLE ON THE MOVE //
> Top of Mind
Networks hired Nick Belenky as executive vice president of sales.
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> Guild Mortgage
has named Michael Ferreira as its new regional vice president in Northern California. Ferreira returns to Guild after serving as a district manager with the company from 2013-2017.
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> First
Community Mortgage selected Jason Copeland as assistant vice president.
> Nations
Lending added a new branch in North Attleboro, Massachusetts, to be led by Paul Salcone.
“How high do you think those humans are going to build this cage?” Photo credit: GlobalIP via Getty Images
SHARE LIKE AN ANT
But the next morning, the
Ants work as a team in tackling prey, carrying food, and building complex underground tunnels. They work harder than many species just to get through each day, and they do it as a team. No one gets left behind, and no one carries all the weight while others just sit on the sidelines. LESSON: When you share the burden, you share the rewards.
kangaroo was free again. Another
HOP ON THE RIGHT LESSON
“I wonder if they’ll take some of it
The zookeepers found a kangaroo wandering outside its enclosure in the wee hours of the morning. They coaxed her back into the enclosure and added a few extra feet of fencing on top. They thought they had solved the issue until they found her wandering outside again the next night. They increased the fence to 20 feet and figured that would be too tall to leap over.
> First Option
Mortgage named James Carroll retail operations director.
> First
Community Mortgage promoted Jake McPherson to assistant vice president.
10 feet of fencing went up, and the zookeepers thought their problem was solved. A koala had watched the process and was more amused each day. “How high do you think those humans are going to build this cage?” he asked the kangaroo. “Who knows?” said the kangaroo. down once they realize they keep leaving the gate unlocked.” LESSON: Make sure you’re solving the right problem. Mackay’s Moral: Who said you can’t teach an old dog new tricks?
Harvey Mackay is an entrepreneur and internationally recognized sales expert.
> Hyperion
Mortgage added Loan Officer Assistant/Senior Processor Debra Arnold.
> Credit Plus Inc. named
Vani Vemuganti to the role of chief financial officer, replacing outgoing CFO Don Grim, who recently announced his retirement.
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NEW TO MARKET JULY 2020
Guaranteed Rate Launches GRaffordable Loan Calculator Guaranteed Rate announced its GRaffordable loan finder tool, a consumer-facing loan calculation system that allows for visibility into specific loan options in as little as 90 seconds by answering a few questions about the home purchase or refi.
ServiceLink Unveils Tech Solution For Home Inspections ServiceLink unveiled its home inspection solution, EXOS Inspect, designed to enable borrowers to complete home inspections without leaving the safety of their home by using AI and a userintuitive interface.
Sprout Updates Its Non-QM Program
Sprout Mortgage enhanced its non-QM offerings to include a new max 85% LTV on most loan programs, reduced rates across its entire program offering and increased maximum loan amounts at lower loan-to-value levels on its Select program series. Interfirst Mortgage Re-Launches Operations Interfirst Mortgage Company, a private equity-backed mortgage originator, announced it relaunched operations with a new proprietary loan origination technology platform and an expanded business model– featuring both a wholesale platform and a soft launch of a new consumer-direct retail platform. SimpleNexus Upgrade For Multi Borrowers
SimpleNexus revealed a platform enhancement that merges management of multiple loans with the same applicant into one user-friendly interface.
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Qualia Tool Accelerates Remote Homebuying Experience Qualia debuted Connect Video Chat, making contactless home closings possible for homebuyers nationwide. Connect Video Chat can be used for remote ink-signed notarizations during home closings in accordance with state emergency mandates and requirements, as well as guidelines established by Fannie Mae and Freddie Mac.
CF Launches Broker Toolkit
CF Wholesale launched BrokerFuel, a tool kit that provides mortgage brokers with tools, training and tactics.
DocMagic To Provide Its eSign Technology At No Cost DocMagic Inc. is making an agnostic version of its eSign technology available for free to help organizations increase productivity, efficiency and compliance among work-from-home employees during COVID-19 stay-at-home orders, as well as after they are lifted. DocMagic’s free offer pertains to the agnostic eSign solution only, not mortgage-specific eSignings involving the company’s loan document generation service. UWM Launches Online Training Courses United Wholesale Mortgage has launched its independent mortgage broker and processor training courses, Success Track, online to continue to help brokers accelerate their businesses.
Homebridge Caters To Frontline Responders
Homebridge Financial Services Inc. unveiled Welcoming Frontline Responders Home, a mortgage assistance program that will eliminate all Homebridge lender fees, and provides these customers with a gift card after closing, for home purchase loans made with Homebridge through Dec. 31, 2020.
Your turn National Mortgage Professional invites you to submit information promoting new “niche” loan programs and products Email: editorial@ambizmedia.com
V E RT I C A L LY
I N T E G R AT E D
NON-QM L E N D I N G
FLEXIBLE
Lending Options
FAST
Turnaround Times
EXCELLENT Service
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nmp SPECIAL SECTION: SOCIAL MEDIA
2020 WINNERS
MORTGAGE PROFESSIONALS OF 2020 This month, National Mortgage Professional magazine features its “Most Connected Mortgage Professionals of 2020,� the top industry professionals selected by the editors for their participation in the world of social media.
To be considered for a Gold Level Connection, a nominee must be among the top in three of the categories; Silver Level Connection in two; and Bronze Level Connection in one. None of the nominees were among the top on all four platforms.
The winners were chosen in part based on the nominations we received and focused on these social media platforms: Twitter, Facebook, LinkedIn and Instagram. Winners were not selected based just on their numbers.
All information was supplied by the nominees and reviewed by magazine staff. Social media stats are as of 06/18/20. A checkmark indicates top performance for that platform.
Jeremy DeRosa 28
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Kelly Rogers
Mark Wilkins
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GOLD LEVEL CONNECTIONS
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Mat Ishbia Mat Ishbia is president and CEO of United Wholesale Mortgage. One of the nation’s leading advocates for mortgage brokers, Mat has changed the lending platform, turning UWM into a $107 billion company and one of the top wholesale lenders in the country. √ Twitter Followers: 3,125 √ Individual Facebook Likes: 5,360 √ LinkedIn Connections: 13,135 Instagram Followers: 684
SILVER LEVEL CONNECTIONS Marc Demetriou
As a top 1% originator, author, speaker and former radio show co-host, Marc Demetriou is an authority on real estate. Marc has been featured in The New York Times, Reuters, Huffington Post and many other publications. Additionally, Marc is a continuing education instructor, offering credits to accountants, real estate agents and financial planners. Twitter Followers: 953 Individual Facebook Likes: 1,050 √ LinkedIn Connections: 9,851 √ Instagram Followers: 3,257
Mike Cox Carl White Photo credit: opolja via Getty Images
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Mark Wilkins
SILVER LEVEL CONNECTIONS
Mark Wilkins was recently named as “Top 1% Loan Originators in America” for 2019 with Movement Mortgage. Mark’s social media following is a key piece in his marketing strategy and building network relationships. Mark is a past honoree by National Mortgage Professional magazine as a member of the “Most Connected Mortgage Professional” list. Twitter Followers: 151
Katy Parsons Katy Parsons entered the industry with a splash, and has continued to make waves as co-host of the annual Mortgage Revolution conference. Her first task when the world returns to normal is to get MRev back on the books! Nothing is better than a room full of mortgage professionals sharing ideas.
√ Individual Facebook Likes: 4,385 LinkedIn Connections: 2,700 √ Instagram Followers: 9,098 TOP OVERALL
Twitter Followers: n/a
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√ Individual Facebook Likes: 4,900 LinkedIn Connections: n/a √ Instagram Followers: 2,667
Adam P. Smith
Mike Cox
Adam P. Smith is president of The Colorado Real Estate Finance Group Inc., and owner of Just The Tips Coaching. Adam has helped thousands of clients and written billions in mortgages. Adam has also coached hundreds of sales professionals on lead generation, client retention, repeat and referral prospecting, and zero-cost marketing.
Mike Cox’s passion is to educate and empower the consumer to make smart financial decisions using their mortgage. Mike has created one of the industry’s best organic Facebook Business pages. His page has a good mixture of fun and straight talk. Mike has recorded hundreds of videos educating his audience. Twitter Followers: n/a
√ Twitter Followers: 998 √ Individual Facebook Likes: 4,983 LinkedIn Connections: 6,400 Instagram Followers: 1,695
√ Individual Facebook Likes: 8,377 LinkedIn Connections: n/a Instagram Followers: n/a Kevin DeLory
Carl White Carl White is branch manager of Success Mortgage Partners, and founder and CEO of The Mortgage Marketing Animals. His podcast, Loan Officer Freedom, is a top podcast for LOs, he has one of the largest Facebook fan pages for LOs, all while running one of the most successful mortgage marketing training programs in the U.S. for topproducing loan officers. Twitter Followers: n/a √ Individual Facebook Likes: 39,861 TOP OVERALL √ LinkedIn Connections: 24,316 Instagram Followers: n/a 30
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BRONZE LEVEL CONNECTIONS
Kevin DeLory, senior vice president, national sales for Carrington Mortgage Services has an impeccable track record of delivering top-notch results. DeLory’s team-oriented approach to sales emphasizes a winning attitude and fosters an environment where accountability is king. That attitude has resulted in a national sales team that consistently exceeds performance goals and expectations, and is experiencing almost 100% year-over-year growth. Twitter Followers: n/a Individual Facebook Likes: n/a √ LinkedIn Connections: 30,000 TOP OVERALL Instagram Followers: n/a
SPECIAL SECTION: 2020 MOST CONNECTED
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BRONZE LEVEL CONNECTIONS Jeremy DeRosa
Jeremy DeRosa is managing director of TPO production at Home Point Financial, one of the nation’s leading mortgage lenders and servicers. His background includes 18 years of industry experience across mortgage sales recruiting, TPO growth strategy and social media reach. Twitter Followers: n/a Individual Facebook Likes: n/a √ LinkedIn Connections: 28,206 Instagram Followers: n/a
Jay Dunsing Jay Dunsing has 23,319 LinkedIn connections, 90% of those connections are people in the mortgage industry. He currently has approximately 574,704 e-mail addresses and phone numbers of LOs in the country. Jay is a frequent contributor to many LinkedIn groups. Twitter Followers: n/a Individual Facebook Likes: n/a √ LinkedIn Connections: 23,319 Instagram Followers: n/a
Sam Fannin Sam “Your Favorite Mortgage Man!!” Fannin of Premier Nationwide Lending, serves his local community by delivering red carpet customer service, with strict attention to detail, and the ability to work with tight time constraints. Twitter Followers: n/a √ Individual Facebook Likes: 4,996 LinkedIn Connections: 1,691
Jonny Fowler Jonny Fowler, senior vice president of Hancock Mortgage Partners, 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 to grow personally and professionally as they positively impact their communities. Twitter Followers: 430 √ Individual Facebook Likes: 4,961 LinkedIn Connections: 800 Instagram Followers: n/a
David Luna David Luna is CEO of Mortgage Educators and Compliance. He’s served as State Commissioner and held several executive positions for banks, credit unions, mortgage bankers and brokerages. He served on national and state boards as well. David has been a consultant to the GSEs and is often featured in National Mortgage Professional magazine, NBC, CBS and ABC. Twitter Followers: 99 Individual Facebook Likes: 3,825 √ LinkedIn Connections: 11,000 Instagram Followers: n/a
Eric Mitchell Eric Mitchell, executive vice president at Gold Star Mortgage, develops innovative purchase market strategies designed to revolutionize the way loan officers and real estate agents partner. Eric creates state-of-the-art lead generation platforms that have delivered sustainable growth for the thousands of sales professionals he has trained across North America. Twitter Followers: 421 Individual Facebook Likes: 910 √ LinkedIn Connections: 29,832 Instagram Followers: 1,222
Instagram Followers: n/a
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BRONZE LEVEL CONNECTIONS Robert Padron
Robert Padron is branch manager at 1st Financial Inc. and past president of the Miami chapter of the Florida Association of Mortgage Professionals (FAMP). With 17 years of industry experience, Padron managed the top producing branch for 1st Financial’s Florida Division in 2019. Twitter Followers: n/a
Ben Smidt For the past six years, Ben Smidt, digital strategist for MGIC, worked to connect folks (CEO to LOs) from within and outside the mortgage space to help make the industry a better, more educated place to learn and grow. Ben created LoanOfficerHub. com in 2016 to help this cause, and has collaborated over the years with influencers and thought-leaders including Dave Stevens, Rob Chrisman, Todd Duncan, Sue Woodard, Shant Banosian, and many others! √ Twitter Followers: 1,900 Individual Facebook Likes: 162 LinkedIn Connections: 4,115 Instagram Followers: 473
Individual Facebook Likes: 742 LinkedIn Connections: 5,300 √ Instagram Followers: 2,457
Kelly Rogers Wife, mom, leader, friend … Kelly Rogers, market leader and branch manager at Movement Mortgage, and her ever-expanding team are a force to be reckoned with. She has helped drive market share throughout Texas, bringing relationships to the forefront of her online presence, business and life.
Ginger Wilcox is the chief experience officer at Home Point Financial. With over 15 years of experience in the housing industry, she has held several leadership roles at companies developing, launching and running highgrowth channels and business acceleration. In 2019, Wilcox received the HousingWire’s Women of Influence in Housing Award. √ Twitter Followers: 17,125 TOP OVERALL Individual Facebook Likes: n/a
Twitter Followers: n/a
LinkedIn Connections: 2,537
Individual Facebook Likes: 1,024
Instagram Followers: n/a
LinkedIn Connections: 6,114 √ Instagram Followers: 2,064
Phil Shoemaker Phil Shoemaker is president of originations for Home Point Financial. He brings over 20 years of experience and a diverse background in technology, operations and sales to building one of the nation’s largest mortgage companies, one of the top largest purchase originators. Twitter Followers: n/a Individual Facebook Likes: n/a √ LinkedIn Connections: 11,413 Instagram Followers: n/a
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SPECIAL SECTION: 2020 MOST CONNECTED
MORTGAGE PROFESSIONALS OF 2020 HONORABLE MENTIONS The following mortgage industry professionals, in alphabetical order, were nominated but were not named our Most Connected for 2020. Chris Barker, senior account executive, Angel Oak Mortgage Solutions
Tom Davis, senior vice president of correspondent lending, First Guaranty Mortgage Corporation
Eloy Benavides, loan officer/ managing partner, Alterra Home Loans
Jevon Domench, sales manager, Academy Mortgage Corporation
Michael Borodinsky, vice president/branch manager, Caliber Home Loans Michael Chaney, national sales manager, DocMagic Inc. Scott Crutcher, president & owner, Maverick Financial Group Jay Davis, mortgage loan officer, State Bank of DeKalb
Chris Olsen, vice president of sales engineering, OpenClose Lynn Reed, branch manager, Premier Nationwide Lending Joe Robinett, senior mortgage banker, The Robinett Team at Mid America Mortgage Inc.
Mark Gordon, national sales director, Princeton Mortgage David Hosterman, regional manager, Citywide Home Loans David Kosmecki, branch manager, Sierra Pacific Mortgage Company Inc. Jeremy Marks, president, Community Lending of America DeAnna Morgan, senior loan officer, Mid America Mortgage
Mary Kay Scully, director of customer education, Genworth Mortgage Insurance Sheila Siegel, president & senior loan officer, Synergy Financial Group Inc. Shmuel Shayowitz, president & chief lending officer, Approved Funding
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SPECIAL SECTION: SOCIAL MEDIA
Six Tips On How To Boost Your Social Media Network BY SARAH DECIANTIS | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
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op quiz: Is it who you know or what you know? When it comes to social media, it’s both. When you’re first establishing your network, it’s about who you know—connecting with friends, family and business partners. But, when it’s time to grow your network and make new connections, it’s about what you know. You need to know what tips and tricks to use that will allow you to extend your reach beyond your already established connections. And you need to know what content to post that will allow you to engage and make an impact with your audience. For mortgage brokers, it may seem especially challenging because mortgages on their own don’t seem exciting enough to generate a following. But it can be done. By thinking outside the box and focusing on achieving your goals, you can grow your network and boost your business.
advantages. Not only will it increase your reach, but it will allow you to post different content. You can even link them together so that people are able to see your business page on your personal page. One easy way to extend your reach is to share some of your company’s content through your personal page. This way, you are ensuring that the content you are posting on your business page is reaching an audience that you have already built through your personal connections. It’s also important that you completely fill out the profiles on both of your pages. Include your location, phone number, business hours and a link to your website. Potential borrowers are not going to take extra time to figure out how to connect with you, so be sure to provide as much information about you and your company as possible.
CONNECTING BUSINESS AND PERSONAL
Now, it’s time to build your network. No matter what social media platform you’re on, there are a ton of easy ways to connect with people. If you already have a personal page, you already have an audience. Start by asking your friends and family to like your company page. If you have co-
When you start out using social media, many people who already have a personal page think they have to abandon their personal page to focus on their business page. But having both actually offers several
START WITH WHO YOU KNOW
“Not only should your content be engaging, but it should also be relevant. Relevant content is anything that has a shared interest between your business and your audience.” 34
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workers or employees, ask them to do the same. Now, you’re able to extend your reach to an even bigger audience. Your employees should be brand ambassadors and can be great vehicles for sharing your content. Another way to connect people to your social channels is by adding links to your social pages on your promotional materials, website and email signature. Building a following will take time, but starting with people you already know is a great way to create a foundation for making connections.
JOIN COMMUNITY GROUPS Facebook and LinkedIn groups provide a great way to connect with people who have common interests, work in the same industry or believe in the same cause, and can be excellent tools to connect with new people. For brokers, valuable connections can be made through real estate groups, industry organizations or even relevant hobby groups. It’s not just about joining the group, you have to engage in it. Be sure to follow what the members are talking about and join in the conversations. Being active in your groups will make you more visible to the members. And don’t be afraid to post and share your company content if it’s relevant to the group’s messaging. But be cautious about being too self-serving. Your posts should come off organically and not feel like you are selling.
USE HASHTAGS EFFECTIVELY Hashtags are a great way to get your content and page discovered by new people who may not have seen them otherwise. They also allow you to find content, people and businesses that are relevant to your industry. By CONTINUED ON PAGE 65
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SPECIAL SECTION: SOCIAL MEDIA
Take The ‘Me’ Out Of Social Media To Make It Matter And use lots pictures of dogs – it works BY BILL BYRNE | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
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o be successful through social media, you need to understand that your competition is everyone on social media—not just real estate agents, other lenders or service providers. You’re competing against everyone who wants to be on the screen of a person that fits a particular psychographic or demographic profile. With that mindset, you can develop a strategy to make your presence something people want to see and share. Social media can be effective advertising, but if that’s how you approach it, you’re doing it wrong. My goal is to give you some actionable ideas–whether you’re running social campaigns for a lender, or creating content for a one-person operation– to improve your presence, profile, and eventually, generate profit. Each won’t be applicable to everyone, but some of them will work for everybody.
For a social media program to be successful, it’s critical that you provide value that your intended audience wants. Think about what works in a social setting offline.
Your social media channels should give back. They should spark conversation, provide knowledge, humor or something else of value. Your strategy should not be onesided. What’s in it for the person consuming it?
FOCUS ON THE SOCIAL The person who only talks about themselves at a party isn’t very popular. People stay away from them, and they certainly won’t tell others to go speak with that person. Boring does not draw attention in social situations. People will eventually excuse themselves and not come back. When you review your social media plans, review them from an outsider’s perspective. If the content wasn’t about your brand, would you care?
BASIC LEVEL STRATEGIES This one pertains to originators. Use the right handles. If I were an originator looking for organic referrals, I’d have profiles set up (these could be separate from your personal profiles) that tie back to what I do. For example, an originator could have @Name_Town_ Mortgage_Pro. With these profiles ready on the
“Social media can be effective advertising, but if that’s how you approach it, you’re doing it wrong.”
Photo credit: Chainarong Praserthai via Getty Images
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SPECIAL SECTION: SOCIAL MEDIA
major platforms, the next move is to become an active participant in the digital spaces that matter to your customers. These include locallyfocused groups on Facebook, trending tags on Instagram, Pinterest, Twitter and active subs on Reddit. Regularly engage in conversations online. What’s new with local restaurants, local sports teams, local whatever? Participants will see the handle and assume they know what you do for a living (@Name_Town_ Mortgage_Pro), and that will build awareness.
profile, and asking colleagues to follow it, isn’t asking too much. After that, when it really matters, you should drive traffic to your social feed from both internal and external sources. I know for a fact that many in this industry aren’t doing this as much as we should. How can I tell? As an easy example, National Mortgage Professional has been doing very insightful Mortgage Leadership Outlook interviews live on Facebook. These interviews feature notables from some of the majors in our space. Some of these companies
“It’s a fact that dogs win Instagram. With that knowledge, consider making every third post or 12th post about your dog.” The goal isn’t to pepper these communities non-stop about how low rates are, or how you can help them afford the home of their dreams. That doesn’t mean you can’t talk about your career in the industry. It means you shouldn’t talk about it non-stop. Is someone lamenting about home pricing and how they’ll never be able to get a mortgage? The exception here is LinkedIn, but the overall strategy remains the same. Provide value and shift your content to that audience. Post about trends and topics adjacent to the industry, and share content that your network may find interesting. Above all, hold back from asking every new connection if you can help them with a loan. That’s the wrong way to do it. On the brand side, one low-hanging fruit many are missing is the organic amplification that can come from your internal stakeholders (aka employees). One of the easiest things a brand can do is to take a “forced organic” approach to their social media presence. Do this by ensuring your team not only knows about your company’s social handles, but follows them. A quick company-wide email, or three, letting internal associates know about your brand’s new TikTok
have hundreds of employees, some a lot more. When I go to these feeds, I’m seeing a decent amount of video views, but not seeing hundreds of shares or likes. Why?
be great for areas where there’s a particular demographic subset with an active online presence, such as local military communities or regions with a high level of rentals and vacation homes. Regardless of what your content is, be sure to use the right hashtags. Use hashtags the audience you want to engage with actually follows, not the tags you came up with that you wish they’d follow.
DOGS ARE INSTAGRAM GOLD While we’re on the topic of content, remember, take the “me” out of social media and go beyond mortgages and housing. On the hyper-local level, this is where originators could be thriving by adding some color to their feed. It’s a fact that dogs win Instagram. With that knowledge, consider making every third post or 12th post about your dog. Provide your
MID-LEVEL EXECUTIONS Content is king. For both the brand and the individual originator, bringing knowledge to the social media party can be of immense value. Create content around what you wish the borrower knew going into the application process, or even better, what you wish they were thinking about a year before. Highlight mistakes unnamed borrowers made that have caused delays or worse. That new car, job change, unexplained cash deposit … you know what the issues are. Consider creating humorous scenarios or memes around the worst mistakes you’ve seen. On a regional level, either through geo-targeted ads or posts by originators in their market, showcase examples for customers that would be of interest to specific segments. Script borrower storylines based on realworld scenarios, sharing this fictional borrower’s occupation, income, down payment, rate and the type of property they purchased. This would Photo courtesy of Bankwell Pet Adoption Project.
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followers with something to look at that’s not just about your brand or the industry. Solicit followers to nominate their mutt for “Dog Of The Day,” which will give them something to look forward to and increase engagement. Even better, reach out to potential referral resources and ask if they have a dog. Tell them your strategy, and in return for a pic of their pooch, you’ll tag them and give a brief description of the owner. You now have a reason to make a call that didn’t involve asking for a referral or talking about how low rates are. Hate dogs? Sounds strange, but if that’s the case, do you like food? Post pics from your favorite lunch locations or implement #RandomActsOfLunch, dropping food off at a different agent’s office each month. When you do make this post, ask in the caption what you should buy for the next #RandomActsOfLunch, and ask that they recommend an industry colleague to receive it by tagging them. The goal is to create content that will attract
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ADVANCED INTERACTIONS The advanced strategies, for the most part, will take either more time to implement, an increased spend or both. On the time side, hand-to-hand combat is one of the best ways to get in front of customers and referral partners. Interact regularly, not occasionally. More is more. If you have the budget for a consistent spend, then the options are nearly limitless. There are regional and national feeds from content curators that you can buy into, which may deliver huge returns if you execute right. Look at your social media program the same way you would a new fitness regimen. Showing up at the gym is just the start. You may see some quick returns, but it’s going to take both planning and constant effort if you want to get into shape. You need to give it time. And post more dog photos … trust me on that one.
Bill Byrne is the co-founder and managing director of Remedy Public Relations.
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heard on National Mortgage Professional hosts a regular Mortgage Leadership Outlook series live on Facebook and YouTube. The industry’s best share their views. Here are some of their observations from the past few weeks. To see these full interviews and more, just go to www.nmptv.com. “The most important thing leaders can do right now is say, ‘I support you and hear you, I may not be able to walk in your shoes, but I want to understand your shoes.’” —J. Tony Thompson, CMB, founder and CEO of the National Association of Minority Mortgage Bankers of America
“The reason I think something is going to be different this time is because we have awakened a national discourse with this conversation and it’s not only national, it’s international.” —Kristy Fercho, vice chairman, Mortgage Bankers Association
“Don’t build a legacy, live a legacy. For me, I want to live a legacy and I just don’t feel that we do that in our industry often enough.” —Jen Du Plessis, CEO of Kinetic Spark Consulting
“VA is a benefit, not a program. Your FHFA customer didn’t have to go to Iraq to get this benefit.” —Bryan Bergjans, senior vice president, national director of military lending for Caliber Home Loans Inc.
“The panic has subsided to some extent. That is allowing capital slowly, but surely, to flow back into the market.” —Allen Shayanfekr, CEO of Sharestates
“I think there is a problem in mortgage banking with diversity. I would broaden that a bit and I would say there still is a structural problem within our country. I think racism and discrimination is still very much alive and it is heartbreaking.” —Phil Shoemaker, president of originations for Home Point Financial
“In life if you want to lead people, you have to stop being interesting, but become interested. You have to see where you can assist people.” —Eddy Perez, president and CEO of Equity Prime Mortgage
“We are seeing non-QM loans once again going to the marketplace and things are beginning to return to normal. It’s been a crazy 60 days but … people are back in the game in a big way.” —Jeffrey Tesch, CEO, RCN Capital
Patty Arvielo Jen Du Plessis Bryan Bergjans Kristy Fercho
Allen Shayanfekr Tony Thompson
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COVER STORY
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KILLING IT WITH KINDNESS Glenn Stearns thinks he can return to the highest ranks of the mortgage business with a new focus on kindness with Kind Lending. BY KEITH GRIFFIN MANAGING EDITOR, NATIONAL MORTGAGE PROFESSIONAL
Glenn Stearns in Grand Teton National Park
Photo courtesy of Glenn Stearns
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or a guy whose smile exudes an almost “gee, shucks” easy going demeanor, Glenn Stearns seems to know a lot about getting kicked in the teeth. Sure, he’s the guy who founded Stearns Lending when he was only 25 years old. But he’s also the guy at the helm of Stearns when the subprime mortgage market implodes, and the company is slapped with reams of lawsuits and revenue does a cliff dive. He’s the guy who this year bought prolific mystery author Dean Koontz’s nearly 30,000-square-foot mansion in Orange County, California for a reported $50 million. But he’s also the guy who, at age 14, got his 17-year old girlfriend pregnant and had to work a hardscrabble existence while completing high school. He’s the guy who righted the ship at Stearns Lending after the Great Recession nearly did it in, and the guy who sold the company to private equity firm Blackstone Group in 2015 for a reported personal net of $380 million. But he’s also the guy who
watched Blackstone file for bankruptcy reorganization a couple of years later, wiping out millions of dollars still owed to him. Glenn Stearns’ history is made for a guy who’s always got something to prove. What’s ironic is that what he’s trying to prove now is that kindness matters.
MORTGAGE DESTINY
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aybe it’s for the best that Stearns knows a thing or two about beating the odds. Because this year he decided to get back into the mortgage industry by launching a new company: Santa Ana, Calif.-based Kind Lending LLC, a wholesale lending and mortgage banking venture, a new approach to wholesale lending, he asserts. But just two weeks after Kind Lending made its formal debut, the country would be walloped full-force by the onslaught of the COVID-19 pandemic. It’s a narrative no one would wish on his worst enemy. Yet, knowing Stearns’ background, could it be a sign that he’s going to
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recalls thinking at the time, “or I could be very, very excited about the future. I think it’s a choice. It’s always a choice. That’s to me one of my better examples to being very excited about getting back into the mortgage business.” He claims to hold no animosity to the current owners of Stearns Lending. “I wish them well. They’ve got my name on the door, so I hope they do well.” He just wants to do better.
STARTING NEW
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his time around he only has a small partnership with New American Funding, headed by the well-known husband-and-wife team of Rick and Patty Arvielo. There are no other investors. “What I have done is a little different than anyone I’ve ever known. The idea was maybe some of these back-office expenses like accounting, human resources, IT and even capitals markets can be joined together and share in those expenses.” “The idea was, ‘Why not Incubate under [New American] while they have all their licenses? I’ll go get mine. We can start that process and see if it will work.’” Stearns said it’s a partnership that may continue – or may not. “I ended up giving them a small percentage just to try it out and
see if works,” he said. “I’m not scared to push my loans through the same back engine. We don’t look at each other’s loans. That stuff doesn’t happen. Everything is separate,” Stearns said. “Most companies, they don’t take their allies and try to work together. We might talk about loan programs or best practices. Why not get more efficient? This business is already tough enough.”
OUT WITH THE OLD
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tearns says the world has gotten a little harsher. Mortgage lending competition has gotten more brutal. But he has faith that there’s a demand for a company that takes a more inclusive, kinder approach. He also believes that instituting a focus on kindness comes easier when starting from scratch. He says his former company lost its way. While he says he doesn’t have any ill words for Stearns Lending, things changed after Blackstone took over. Under his ownership, the company had a more entrepreneurial spin. Big corporate investors changed the dynamic. “For some kind of people that culture works. For me and for the people that did really well at growing the business, it doesn’t work. There was a difference of opinion on how to run things,” said Stearns.
Stearns on the set of Discovery TV show, “Undercover Billionaire”
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Photo courtesy of Glenn Stearns
succeed yet again? He just might if his streak holds. In 2019, Stearns was the star of “Undercover Billionaire,” a reality TV show on the Discovery channel where he took $100 and launched a business in 90 days that would be worth a million bucks. The jury’s still out if Underdog BBQ in Erie Pennsylvania is a $1 million company but it’s still open through the coronavirus. Stearns wasn’t looking to get back into the mortgage business necessarily. The serial entrepreneur has his hands in lots of other business. Then, on the day “Undercover Billionaire” was announced, big news dropped. Stearns Lending, which he no longer controlled, declared bankruptcy. Stearns acts like he was to the manor born. He doesn’t discuss his worth. But the Stearns Lending bankruptcy had to hurt. “I had owned 30% of the company and I had a lot of money that was due to me and they wiped it all out in their reorganization and they came out of it with no debt,” Stearns said during a Zoom interview with NMP from his Jackson Hole, Wyoming home. But the news also brought freedom. “It didn’t take me 5 minutes to realize I can compete now.” Stearns said he could have focused on the wrong thing: losing the money owed him. “I could be upset,” he
Photo courtesy of Glenn Stearns via Facebook
Glenn and Mindy Stearns, who serves as Chief Kindness Officer at Kind Lending
“You’ve got legacy people and the way things were done. I’ve watched everything change and evolve at the last company. It takes years for that to happen.”
RIGHT TIME TO BE KIND
T
he biggest thing he’s trying out is a focus on kindness in the wholesale process. “I didn’t want to have the same flat, boring old-style mortgage banking. I wanted people to have a good time and feel like their opinion had weight,” Stearns said. When he announced his new venture, he said Kind Lending would be dedicated “to putting people before profit while maintaining transparency and integrity in lending standards … Kind Lending aims to break the industry standards and introduce a contemporary approach to mortgage
“If I can take everything I’ve learned in the mortgage business and compress it into a couple years. I think I can probably do better than I did last time.”
banking.” It sounds all sugar and spice, and everything’s nice. But can it work? Roland T. Rust is one person who thinks it might. He is a professor and David Bruce Smith Chair in Marketing at the University of Maryland. He’s also executive director of UofM’s Center for Excellence in Service. Rust says he doesn’t know Stearns and the specifics of his business model but the concept is solid. Kind Lending may have appeared to be at a disadvantage opening during the pandemic. However, the timing might be right for empathy. “In theory, I think he’s right. I think that’s the direction we are going in. My own research suggests empathy, kindness and feeling intelligence will be more important,” said Rust in a phone interview with NMP, especially as artificial
intelligence takes over more tasks. Humans, the professor argues, will need to pay more attention to the feeling and emotional aspects of business. Rust said he has empirical proof that kindness is the future of business. He’s academically reviewed research on the role of artificial intelligence in loan reviews. The study shows the use of rational, objective algorithms does not get rid of discrimination in that process. “Even artificial intelligence needs to get better at considering some of these softer issues.”
AGGRESSIVE YET KIND
S
tearns during his interviews can come off as Pollyanish. He exudes optimism and is cheerful regardless of the topic. That doesn’t mean he’s not self-aware that
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Photos via Boats International
The Minderella, Stearns’ 188-foot yacht.
everyday isn’t going to be sunshine and lollipops. “It’s necessary to be somewhat aggressive in the world of sales, any kind of sales. I’ve always been more of a soft sell kind of guy. At the same time, you need people to stand up and speak for your loans,” he said. “You have to have a strong voice. If you’re too weak, you’ll get run over. You can be nice about and kind about it, but you can also be assertive and make sure your stuff gets done. That’s how I think we’ll feel in the company when we’re selling loans.” Stearns knows a balance needs struck between kindness and aggressiveness. He wants his employees to get home in time for their kids’ soccer games and recitals. But, and there’s always a but, he knows there are going to be times when it can’t happen. “I hope we’re efficient and everybody gets to clock out at 5 p.m.,” he said, but sometimes important files will need completion for people who are in a rush. “It happens when you do volume,” he added. Plus, for some people working late or coming in early is just something they like to do, Stearns says. “We’re all different in terms of where our work/life balances are. Sometimes you don’t have a lot going on and your work is your life.” He doesn’t encourage staying until 10 but if it makes them happy, more power to those employees.
HOW DOES KINDNESS GET CUSTOMERS?
W
hen it comes to the more difficult loans, Stearns suggests, Kindness plays out for customers. He’ll go after the
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low-hanging fruit of loans with no issues just like other top wholesalers do. But, and this is where he says he gets value by investing more in account execs, he says he can get back on top by focusing on the more troubled loans, too. “We’re going down both lanes. We are going to go after brokers that have great loans and maybe we don’t have enough coverage. We’ll take in-house people to be able to do that,” he said, acknowledging this strategy could add “4 or 5 basis points” to each loan. “If I can find efficiencies in the process, I might be at a breakeven point with everybody else,” he said, again citing the relationship with New American. “I still think the customer will pay 5 basis points more to have the attention and somebody who’s really going to be a voice for them,” Stearns added. “We definitely believe in the account executive and the value they can add.”
BOOTSTRAPPED LIFE
F
rom anyone else, this is a tale that might draw a lot of scepticism. But Glenn Stearns is the epitome of the American success story – over and over again. As a child, he grew up poor in a housing project outside of Washington, D.C. Fast forward to taking his current daughters yachting in India and the Maldives; hopping between tropical islands in Raja Ampat, Indonesia; and feeding raw meat from their tender to dragons on Komodo island on his 193-foot yacht. (He now has six children and two grandchildren.) When he first moved to California after graduating from Towson University with a degree in economics,
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he slept on a friend’s kitchen floor while launching his career. He now co-owns an island with billionaire Richard Branson in the British Virgin Islands. Necker Resort is considered one of the world’s most exclusive retreats. He started Stearns Lending at age 25 in 1989. To expand his business, he became a HUD settlement contractor; eventually becoming the largest in the country. Then he sells an escrow business and puts the money in his mortgage business. Things go well until they don’t. The subprime mortgage industry collapses. Stearn Lending is slapped with class action lawsuits. There’s a demand he re-audit 5,000 loans and he faced $100 million in buyback demands. Add to that a drop of 85% in revenue. As he said on NMP’s Mortgage Outlook Series, “Thing were dark, dark, dark.” But this is Glenn Stearns. He slowly claws his way back through a heavy emphasis on face-to-face communications, including meeting with opposing counsel without his own attorneys. As he said in that interview, he slowly dug his way out of the hole. He used the analogy of eating an elephant. You do it one bite at a time. Then, because he’s Glenn Stearns, he sees opportunity. He looked around a seriously imploded mortgage industry. Teams that had been together for 15 to 20 years were unemployed. In the midst of his fiscal struggles, he doubled down and hired 1000 employees between 2007 and 2009. That investment in human capital paid off. CONTINUED ON PAGE 48
STEARNS
CONTINUED FROM PAGE 46
Photo courtesy of Glenn Stearns
“We’re on our way to number one.” It doesn’t strike him as ambitious to shoot for that, he explains. “When you think about who is number two right now, it’s Home Point. They became number two because they have gotten probably 75% of their top account execs who used to work with us. When you look at how this industry works, UWM took a different approach, a different model. They went after very clean loans and great pricing. That was the old Provident model. Don’t pay the expense of the AE. “In my opinion, to pay the extra 4 or 5 basis points to go after the loans that need a voice and the broker that needs a voice are important. We will go after the AE that has the relationships and we’re going to be able to rebuild very quickly and get up there.” He leans in: “We won’t be 425. Let’s put it that way. Once we get up there, that to me is a game. I want to have a very healthy, happy, bigger company. It’s a game to reel in 424 and 300 and 100 and get down to the Top 10. It’s just the way to measure it. It’s not about moving up the ladder. It’s all about having a goal.” In an interview with the “Orange County Business Journal,” Stearns also made a bold prediction that Kind Lending will have a $26 billion portfolio in two years. He clarified to NMP that there is no real deadline associated with that number, but the figure wasn’t pulled from thin air. “I think that number came from when I left Stearns Lending, we were doing $26 billion. That took me 25 years. I think I can do it in two,” he said. “If I can take everything I’ve learned in the mortgage business and compress it into a couple years. I think I can probably do better than I did last time,” Stearns proclaims.
Glenn Stearns in Grand Teton National Park.
In August 2015, he sold a majority stake to the Blackstone Group. Financial details weren’t released but at the time, his company employed over 1700 and “notched $521.7 million in revenue [in 2014], representing a 250% growth over three years that again landed the company on the Inc. 5000 list of the fastest-growing companies in the U.S.,” according to
an Orange County Business Journal article. Forbes estimated the deal was worth about $380 million before tax.
WANTS TO BE ON TOP AGAIN
T
wo months after starting Kind Lending, Stearns joked in May his company was 424 out of
425 wholesalers after its first seven loans. He said in an Instagram post,
“If I can take everything I’ve learned in the mortgage business and compress it into a couple years. I think I can probably do better than I did last time.”
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COACHING
Photo by urbazon
PUT ME IN, COA Practical advice from top coaches and originators to help with volume and stress BY GEORGE YACIK | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL
T
here’s a challenge to being a mortgage broker. Your shops can be small with often just one or two folks. There’s no in-house coaching that helps you stay motivated, focused and upbeat. Compound that with the challenge of the COVID-19 pandemic. Networking events and educational programs you once would have attended – that help boost your enthusiasm and right your ship when you are floundering – suddenly vanished with the lockdown. As psychologists know, without a support system, it’s easy to magnify minor issues and blow them out of proportion.
We know what it’s like. After all, National Mortgage Professional was almost entirely remote for three months, too. That’s why we reached out to the mortgage industry’s top coaches and motivators to offer words of advice to help
brokers through this period. And, we also sought the counsel of originators and brokers, too. After all, there’s some bad advice out there you might want to avoid so your career can keep moving forward and keep that cash flowing in. It’s a great time to be in the business. Interest rates are at record lows, so originators are being inundated with refinance applications. Let’s keep you focused so you can handle the volume.
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“THIS IS STILL A RELATIONAL BUSINESS, SO WHILE YOU ARE NOT MEETING IN PERSON WITH YOUR CURRENT REFERRAL SOURCES, YOU SHOULD STILL BE STAYING IN TOUCH WITH THEM.” –Paul Waldrop, head performance coach at XINNIX, The Mortgage Academy
WHY ARE YOU IN THIS BUSINESS?
ACH
Photo credit: Minerva Studio via Getty Images
I’m convinced that there is a psychological basis that needs to come before the “doing.” Are you doing what you really want to do? Is what you do just a series of actions because you have to do them, or are you doing what you do because you have a purpose? Do you believe in what you do? Is there a reason for what you do? In summary, do you know your “Why”? Ralph LoVuolo Sr., Speaker/Coach/Author/ Mentor at Mortgage Godfather The first thing we need to do is be crystal clear on what it is that we want. It’s a lot easier to stay psyched-up and zeroed-in when we have a well-defined objective. Vague objectives will not motivate us or help create focus. Ski Swiatkowski, managing partner, BrokeredIn Academy
DON’T WAIT FOR WORK A motivated person is someone who, no matter what is happening around them, will get up, get out, and go to work. With the lowest interest rates ever, many of my colleagues are closing more loans than they have ever done in their lives. And yet there are also individuals who are trying to get another job to make ends meet. What is the difference? The megastars are not order-takers waiting for borrowers to come to them. They are so particularly focused and driven they will find where the borrowers are and give them the attention
they demand. In turn, borrowers feel that they must do business with these loan officers – today, right now! These small few super performers, who make up just 20% of originators, look just like everyone else, with one notable difference: They are positive, upbeat, happy, prepared, ready to be there for the borrower. They expect to get the loan application. David Luna, President and CEO, Mortgage Educators and Compliance
STUDY THE TECHNOLOGY In the mortgage industry, timing and teamwork are critical. Work efficiencies through technology and improved processes are essential. Improving your knowledge and skill set is not only rewarding, but the outcome for your customer is paramount to your success. And it can all be accomplished virtually! Mary Kay Scully, director of customer education, Genworth Mortgage Insurance Loan officers all over the country are asking me: What do I do now that I am home and I can’t see my real estate agents? Some are hiding. Some are just frozen with fear. Others are in difficult work circumstances because they may be home schooling their kids and don’t have a home office. But others are taking the opportunity to learn new technologies and more. For example, I have some originators telling me that they are having more face time than
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ever with their agents using Zoom or other technologies. Others are telling me that they can make more calls without the distractions that an office delivers. Still others are ramping up their social media sites and postings and beefing up their database efforts. Dave Hershman, founder, OriginationPro
that impact your office culture and add to that stress. Make sure your culture breeds productivity, focus and success. Adam Smith, president and founder, Just the Tips Coaching
you look for things to be grateful for,
We must examine the beliefs we have
KEEP IN TOUCH
PLAN – AND THEN PLAN SOME MORE Time management needs a reason. You need to know your “Why.” Then you’ll know your “What” and your “How.” You’ll see the things that are important and do them. You’ll stop wasting your time on wasteful, timesucking actions. They might be fun, but they won’t produce the results you seek. Ralph LoVuolo Sr.
This is still a relational business, so while you are not meeting in person with your current referral sources, you should still be staying in touch with them. In addition to that, you should be reaching out and connecting with new ones. People are starved for connection with others and most are open to having conversations with new people. Get motivated and learn something new by tapping into the energy of others who are already doing well. Great attitudes and success are contagious and they have likely applied new ways to do the very things that make you feel stuck. Paul Waldrop, head performance coach at XINNIX, The Mortgage Academy
FOCUS ON YOUR [WORK] CULTURE There are a lot of mortgage brokers that are broker-owners doing it all on their own, or maybe with another originator and a small support staff. This environment, one that lacks a strong pulse or a loud heartbeat compared to big and populous offices, can be difficult for brokers to be constantly motivated, enthused, focused and positive. The best piece of advice is to focus on your company’s and office’s culture. I am a mortgage broker-owner myself, in addition to being a coach, and only have another originator or two and support staff. But not only do we have a great time, we are motivated, focused and ultimately successful. We have no set schedule. Everyone knows to get their work done, whenever that may be. We have no dress code. We have pets and kids in the office all the time. The mortgage business is stressful enough without adding on the things
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Khai McBride taught me to look at my business in blocks. So, I split my day into thirds: working on my business, working in my business, and working for my business. • The 1st third is CEO time: doing things a CEO would do. • The 2nd third is sales time: prospecting for new loans. • The 3rd third is working on loans. I do not touch a loan in progress until 3 p.m. Jason John Sharon, broker/owner, Home Loans Inc. If you’re struggling to remain motivated, try goal setting. Motivation and goal setting run hand in hand. Goal setting allows you to define personal and business objectives. Maybe we should look at “worklife balance” instead as “work-life alignment.” Mary Kay Scully
the easier they will be to find! The benefits are immediate. Kerry Wekelo, chief operating officer, Actualize Consulting
relative to achieving what we want. If we have a limiting belief about our ability to accomplish a goal, we will continuously struggle, unaware that these underlying non-supportive beliefs are subverting our efforts. Develop strong beliefs about your ability to reach your goal. Ski Swiatkowski
COACHING MAY NOT ALWAYS WORK Coaching works and coaching doesn’t work. In mortgages and life? It’s not the coach, it is the character that determine success in a stressful situation. What do I mean? Think about sports teams. There are superstars and there are bench warmers. They both have the same coach. It’s not the coach, it’s the person. If you are thinking of hiring a coach, you have to ask yourself two questions: “What do you want out of a coach?” and “Are you ready to submit to the coach and do exactly what he/ she tells you to do?” If you do not know what you want, you can not tell a coach to get you there. It’s like starting a trip without knowing the destination. Jason John Sharon
PRACTICE POSITIVITY
Coaching can change your approach
I have found that motivation and attitude are powered by the lens with which we see the world. When we constantly strive to look through a grateful lens, we are better positioned to face challenges and overcome them quickly, as well as walk with compassion and understanding. Gratitude is an infusion that not only improves those aspects of our lives, but flows to how we show up each day. And the best part is, the more
to just about anything, but it can’t
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add anything to any job that you don’t bring with you. Coaching is not about indoctrination. It is not about creating false loyalty to ideas that don’t serve customers. Any coaching that suggests good things can happen in your life without you taking personal responsibility is a false teaching. John G. Stevens. chief marketing officer SRE Mortgage Alliance Inc.
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MY BEST DEAL
It’s All In La Familia For This Broker And His Eight Hermanos Name: Manuel Martinez Job Title: Mortgage Broker Business: Success Financial Group, Los Angeles, California
Manuel has been in the real estate and mortgage business since 1985. He helped his older brother get a mortgage for his first home in 1987. That brother would later build a small home for his parents on his 5-acre property. It’s become the go-tospot for weekly Sunday dinners that attract 30 to 40 relatives. Manuel’s late father turned the yard into a menagerie of animals including goats, llamas, ducks, cows, geese and more. It would become a popular spot for the 32 grandkids and seven greatgrandkids in the extended Martinez clan.
What else?
How much was your best deal? My best deal equals to about $2.1 million. I did nine purchase deals in one, each averaging about $233,000 each.
What made it your best deal? As he explained in a follow-up conversation with National Mortgage Professional, it wasn’t nine deals all at once, but instead reflects the way he has helped his four brothers and four sisters (his hermanos) each buy their first homes.
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“What makes this deal unique is that most of my brothers and sisters were born in Mexico. I am sure my parents brought us here to this country over 40 years ago to achieve the American Dream and me being in the mortgage business for 25+ years plus just made it a little bit easier to do so.
It was a truly family effort. One sibling would help another with the mortgage financing and so on down the line. “One way or another we got all my siblings into their first homes,” said Manuel, who is third oldest of the nine. Manuel first got his taste for real estate when he helped his parents purchase their first home back in 1981 in La Puente, California: 20 minutes east of Los Angeles. They left behind a 300-sq. ft. apartment for the family’s new life (and a $52,000 mortgage at 13.5%).
“Whenever I do public speaking, I tell people one of the reasons I love what I do is because I was able to help my family buy their own homes.” Manuel Martinez
Have a great story about your best deal? We’re not talking about your biggest deal. We want to hear about your best deal – the one that resonates with you personally, the one that became the story you’ve told again and again about why you’re in this business. Head over to bit.ly/MyBestDeal and tell us the details. You can win a $100 Amazon gift card if your story is selected for publication.
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Why choose MBS Highway? BARRY HABIB— THE ORIGINATOR OF THE MARKET ADVISORY SERVICE Daily guidance and insights from Mortgage Market expert Barry Habib. He closed over $2 Billion in production as a Loan Originator, called the bottom of the Housing Market and currently provides sales and market training to thousands of Loan Originators across the country. STATE OF THE ART, USER FRIENDLY WEBSITE We've taken great pride in building a website that uses new technology, and enhances the user experience. No matter where you are on our site, you'll always have market data in sight. Never miss a lock alert with our real time market news and alert system. MOBILE WEB APP Always stay in touch with the market when on the go with our Mobile Web App. It's fast and easy to use. Whether you have an iPhone, Android, Blackberry, Windows Phone, you'll always have access to MBS Highway. No downloads, no annoying updates, just visit m.mbshighway.com in your phone or tablet's browser. CALCULATORS AND TOOLS Powerful and unique calculators to help you when presenting to customers. Buy vs. Rent, ARM vs. Fixed, Paying Points, and Amortization calculator are a few examples. You can save and share the results to beat your competition.
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NEWS FLASH
Foreclosure And Eviction Moratorium Extended To Aug. 31
The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will extend their single-family moratorium on foreclosures and evictions related to the coronavirus until at least Aug. 31, 2020. The current moratorium was set to expire on June 30. The foreclosure moratorium applies to GSEbacked, single-family mortgages only. Also announcing the same extension was the Federal Housing Administration who extended its foreclosure and eviction moratorium through Aug. 31, 2020, for homeowners with FHA-insured single-family mortgages. FHA’s single-family foreclosure and eviction moratorium extension applies to homeowners with FHA-insured Title II Single-Family forward and Home Equity Conversion Mortgages, and continues to direct mortgage servicers to: Halt all new foreclosure actions and suspend all foreclosure actions currently in process, excluding legally vacant or abandoned properties; and cease all evictions of persons from FHA-insured singlefamily properties, excluding actions to evict occupants of legally vacant or abandoned properties.
Home Affordability Increases Nationwide
The second-quarter 2020 U.S. Home Affordability Report from ATTOM Data Solutions found that median home prices of single-family homes and condos were more affordable than historical averages in 49% of U.S. counties, up from 31% a year ago. The report found the affordability for average wage earners by calculating the amount of income needed to make monthly house payments—including mortgage, property taxes and insurance—on a
median-priced home, assuming a 3% down payment and a 28% maximum “front-end” debt-to-income ratio. Compared to historical levels, 200 of the 406 counties analyzed in the second quarter are now more affordable, up from 126 of the same group of counties in the second quarter of 2019. The gains have come as higher wages, along with cheaper mortgage costs, resulting from declining interest rates, outweigh ongoing price increases that commonly have exceeded 5% in the current quarter. Among the 41 counties with a population of at least one million, the biggest year-over-year price gains were in Philadelphia County, Penn. (up 22%); Bronx County, N.Y. (up 13%); Mecklenburg County (Charlotte), N.C. (up 12%); Dallas County, Texas (up 11%); and Orange County (Orlando), Fla. (up 10%).
Mortgages Still Difficult For Blacks To Obtain
New research published by the Consumer Financial Protection Bureau shows Blacks are more likely to be denied mortgages compared with white borrowers. On the plus side, the numbers do show an increase in the percentage of new home loans going to Black buyers. The data is part of the bureau’s third annual series of Bureau Data Point articles describing mortgage market activity over time based on data reported under the Home Mortgage Disclosure Act. The major reason for mortgage denial among the Black community is a reliance on debt-to-income ratios. Urban Institute research shows the ratios “are much less significant predictors of loan performance than FICO scores and that many high-DTI loans have strong FICO scores.” The CFPB has proposed a new rule that would diminish the impact of debt-to-income ratios. It would remove the general qualified mortgage loan definition’s 43% debt-to-income limit and replace it with a price-based threshold.
Supreme Court Rules CFPB’s Structure Unconstitutional
The Supreme Court ruled that the structure of the Consumer Financial Protection Bureau, as currently constituted, is unconstitutional. In a 5-4 decision, Chief Justice John Roberts said that the bureau will continue operations. However, its director could be removed by the president at will. “Such an agency lacks a foundation in historical practice and clashes with constitutional structure by concentrating power in a unilateral actor insulated from presidential control,” Roberts wrote in the majority decision. “The agency may therefore continue to operate, but its Director, in light of our decision, must be removable by the President at will.” There’s been some speculation that this ruling also affects the Federal Housing Finance Authority. Mark Calabria, its director, said in a statement via Twitter, “I respect the Supreme Court’s decision in the Seila Law case. This ruling does not directly affect the constitutionality of FHFA, including the for-cause removal provision.”
Substantial Growth In Remote Online Notarization
A survey by Qualia found many businesses made the transition to remote working conditions in the title and escrow business. It also predicts that it could be a permanent flexibility for employees in that line of work. As a result, the report shows an impressive uptick in remote online notarizations as well and predicts that they are here to stay. RONs, as the remote online notarizations are also known, were CONTINUED ON PAGE 63
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NEWSFLASH CONTINUED FROM PAGE 57
complicated to execute due to legislative roadblocks, lenders being cautious and county recording offices not technologically equipped to accept them. With the COVID-19 pandemic’s added pressure, a rapid change occurred which forced their adaptation across the industry. “Government-sponsored entities including Fannie Mae and Freddie Mac led the way in updating their requirements to allow for RON,” according to the Qualia report. “Qualia’s survey data between March/April 2020 and May 2020 indicates a growth in acceptance and usage of RON among title & escrow companies. Between Match/April and May, RON usage increased from 24% to 33%.”
NAR Seeks To Close Homeownership Divide
For first-time homebuyers entering a market where supply is far below demand, the National Association of Realtors presented a five-point plan
designed to increase the number of Black homeowners in the U.S. and help close the gap in homeownership rates between whites and Blacks. “Before the pandemic, America faced a housing shortage of around five to six million homes due to multiple years of underproduction of new homes,” said the Realtor association’s Chief Economist Lawrence Yun. “Now, in the middle of 2020, the housing shortage has intensified.” As explained by Yun, the plan aims to execute the following: build more homes to increase supply; build more homes in opportunity zones; increase access to down payment assistance; strengthen a Federal Housing Authority loan program; and expand alternative credit scoring models.
Nearly 7.4 Million Homes At Risk Of Storm Surges
the Atlantic hurricane season officially underway, many states are still under strict social distancing guidelines– causing economic stress on housing and forcing communities to develop new logistical measures to recover from natural catastrophes. The 2020 hurricane season begins as the economy struggles, with record high unemployment, and cities at high risk of storm surge damage also face risk of mortgage delinquencies. Miami (5.1%), New York (4.7%) and New Orleans (6%) had elevated delinquency rates in February, well above the U.S. rate (3.6%) and two months ahead of the spike in U.S. unemployment. Miami, New York and New Orleans are also near the top of the list for storm surge risk, ranking first, second and fourth, respectively, for risk to single-family homes. ________________________________
Your turn
CoreLogic’s 2020 Storm Surge report found that nearly 7.4 million single and multifamily homes with more than $1.8 trillion in combined reconstruction cost value are at risk of storm surge and possible mandatory evacuation. With
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 editorial@ambizmedia.com. Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.
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SPONSORED EDITORIAL
We Have Mortgage Jobs.
• Branch Manager • Business Development Manager • Client Relationship Manager • Client Relationship Specialist • Collateral Asset Manager • Commercial Loan Officer • Credit Analyst • Licensing Assistant • Loan Officer • Loan Mitigation • Post Closing QC Expert • Loan Administration Manager • Processor • Regional Vice President • REO Closer • Retail Branch Manager • Reverse Mortgage Specialist • Sales Manager • Underwriter • Wholesale Account Exec • And MORE! Resposes are from highly-qualified candidates. Your ad can also be [osted on Indeed and SimplyHired as a FEATURED JOB, on Craigslist in most cities, Googlebase, Oodle, Juju, CareerMetaSearch, TopUSAJobs, Jobalot and MORE! Pay-per-use RESUME BANK.
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ADAPT OR DISAPPOINT:
Borrower COVID Expectations BY SHAKRIA HALL Despite the economic uncertainty still looming as a result of COVID-19, purchase applications continue to surge. However, the virus has added an additional layer of complexity to the origination process. This layer is quickly being addressed by the accelerated speed of technology adoption. Technology such as hybrid e-closings, exterior, and desktop appraisals, and remote online notarizations have become more popular in recent months. However, if you are still reluctant to introduce new technology into your business model, let’s discuss a few tools to help increase borrower satisfaction and improve your efficiencies in the era of COVID.
Hybrid Electronic Closing
Not surprisingly, closing times are longer now. Lenders are backed up with processing refinancing applications and underwriting times are longer. Although these things are outside of your control there are some ways to minimize borrower impact. Start by managing your borrowers’ expectations so they understand what may lay ahead. Communicating the details of your most recent experiences and time to close is a great way to establish a relationship of transparency and trust. Some homebuyers are even adding addendums to contingency timelines to account for COVID-related holdups. Second, seek out one of the growing number of title companies offering e-closings. The process is faster, reduces the risks associated with close interaction, reduces error, decreases time to close, and offers you better control and accountability.
Exterior And Desktop Appraisals
Give your customers assurance of your professionalism and integrity. Become a Certified Reverse Mortgage Professional The National Reverse Mortgage Lenders Association developed this rigorous certification for industry professionals who want to give customers the confidence to know they are working with thoroughly knowledgeable and devoted individuals. Earning the CRMP* designation requires validating your experience, continuing your education annually, participating in our ethics workshop and passing an exam.
For for more information, visit nrmlaonline.org *The CRMP designation is available to members and non-members of NRMLA.
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The GSEs have announced the extension of temporary appraisal guidelines created as a result of the virus … big news considering some loan types will continue to be off the table for origination. It also means you will need to work with appraisal companies comfortable with exterior and desktop valuations. The most important piece is a comprehensive, efficient LOS. It should be equipped with seamless access to hundreds of integrated vendor partners. This gives you the choices and tools you need to originate with confidence. Right now, that confidence can appear in the form of choice. The ability to choose from a list of title, appraisal, credit vendors, lenders or more, is vital. Make sure your origination technology is working for you. Shakria Hall is brand marketing manager at Calyx, an established provider of compliant mortgage software solutions used by banks, credit unions, mortgage lenders and brokerages nationwide. She may be reached by e-mail at Shakria_Hall@CalyxSoftware.com. SPONSORED EDITORIAL
DIVERSITY IN HOUSING
LGBT Buyers Pay Higher For Discrimination Protection Markets with better safeguards cost $127K more typically
L
GBT homebuyers and renters pay a premium to live in jurisdictions that offer legal protection from discrimination, according to research from Zillow. While it is unlikely that LGBT legal protections increase home values – and other factors come into play – the fact that these areas are more expensive has a disproportionate impact at these aspirational locations. To identify price differences, Zillow analyzed the typical cost of buying a home in states, cities and counties that have LGBT housing discrimination protection laws in place. These protections include being evicted, denied housing, or refused the ability to rent or buy housing based on sexual orientation or gender identity. While these premiums pertain to buyers, LGBT renters also feel the effects—given that high home values generally correlate with high rents. National housing and employment non-discrimination laws protect classes such as sex, race, age, color, religion, and national origin. In June, the Supreme Court affirmed job protections for people who identify as LGBT, but explicit protections against housing discrimination do not exist at
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Photo credit: David Tran via Getty Images
the federal level, and vary significantly based on local jurisdictions. Just 22 states and the District of Columbia offer laws explicitly prohibiting housing discrimination based on sexual orientation and gender identity. Typical home values in jurisdictions with legal protections are about $127,000 higher than home values in places without those laws—nearly $328,575 compared to $201,462. Many of these jurisdictions also offer the LGBT community legal protections beyond housing, including employment and public accommodation protections. While it’s not the specific legal protections bumping up home values in these states, those who identify as LGBT, among other buyers and renters, are paying more to buy or rent in areas that offer protections through antidiscriminatory policies.
TOP LOCALES LGBT buyers in Hawaii; Washington, D.C.; and California can expect to pay the biggest premium. Home values in Hawaii were approximately 219% higher than the typical home values in areas with no protections. Washington, D.C. followed at 218% higher, which was followed by
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California at 187%. Iowa is the only state with explicit protections for LGBT homebuyers where the typical home costs less than in places without protections at 23% less. More than 70% of LGBT buyers report making at least one sacrifice to stay at or below budget, compared to 58% of heterosexual buyers, according to data from Zillow’s 2019 Consumer Housing Trends Report. Such sacrifices include buying a home that requires renovations and smaller than initially planned. To assist with the homebuyer protection issue, Zillow recently unveiled LGBT Local Legal Protections, a resource to help people see whether for-sale and rental listings are in communities where state and local regulations explicitly protect individuals who identify as LGBT from discrimination. All property listings on Zillow, including homes on and off the market, now include information about the home’s jurisdiction and the local laws in place that protect fair and equal treatment in housing, employment, as well as public accommodations based on sexual orientation and gender identity.
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VIDEO MARKETING MASTER CONTINUED FROM PAGE 20
campaign … • Slice of life: YouTube is largely popular because of the viral videos that have taken off and the slice of life content. Slice of life is a way to make a personal statement using video and really connect with your audience. An example can be anything from a “get ready with me” video to a vacation vlog. Consider turning the camera on and sharing your life with your audience and customers. It will endear you to your clients and improve your chances of capturing them as a customer. • Educational: There is a large appetite out there for educational content in the mortgage industry. If you’re producing video for a mortgage company or you’re a an independent loan officer, your audience is going to love these videos. The mortgage process is complicated. If you can provide insight into the industry, it is going to be very helpful. Discuss some different loan products that you offer, or perhaps you can outline the mortgage process from beginning to end. The more resources you are able to provide for your customers, the happier they are going to be in the end. • Copy the competition: Although copyright infringement is never a good idea, it is a good idea to study your competition. Check out the videos they are making and try to mimic them without ripping them off completely. To avoid being too similar, add your own spin or improve the videos in some way. Look at the competitors’ content and create a better version of it.
USE MULTIPLE PLATFORMS TO SHARE YOUR VIDEOS When you are promoting your videos, it is important that you use a multi-channel approach and understand the advantages and
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Photo credit: golubovy via Getty Images
disadvantages of each. In particular, you need to know about the two main video platforms: Vimeo and YouTube. Vimeo is a great platform for highquality and professional videos. With Vimeo, you are able to acquire better tracking data than YouTube. YouTube is the more popular platform and has a higher audience reach. You may have an easier time capturing new clients using YouTube, but Vimeo will help you understand what content is doing well and why. Using both allows you to optimize your video production and give you more value.
WHAT ARE SOME COMMON MISTAKES? If you are able to catch these common mistakes, you will be light years ahead of your competition. One of the first mistakes is not branding your videos. Assume that your video will be the first interaction a potential customer has with your brand. You want them to remember you and brand awareness is a huge reason why you are using video as a marketing tool. Don’t forget this important element. SEO credit is also going to be important if you want your videos to rank in Google’s search engines. In
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order to do this, you need to make sure that you transcribe your video. This will give Google an idea about the video’s content when it crawls the web. In addition, make sure that your videos have subtitles. Eightytwo percent of Facebook videos are watched on silent. Without subtitles, this majority of the audience will never understand the message in your videos.
NOW IS YOUR CHANCE Everyone should begin using video as a marketing tool. It is going to have a real, guaranteed impact on your audience. With the growing millennial market and decreasing consumer attention spans, it’s important that you create content that will connect with your audience. More and more, consumers are looking online for services, so it is important that you meet them there with educational and helpful content. As long as you are following these simple steps, you can create some high-quality content that will resonate with your audience.
Ben Holland is vice president of marketing for On Q Financial.
GET CONNECTED CONTINUED FROM PAGE 34
including hashtags, you are able to grow your reach and your audience. In order to use hashtags effectively, it’s better to keep them simple and not too specific. Using terms like “Mortgage,” “Homebuying,” “Real Estate” or “Home” are generic, but relevant, and can capture large audiences by adding them to your posts. But don’t overdo it. When using hashtags, it’s important to keep them to a minimum. And you don’t need to use a hashtag in every post. You wouldn’t want your audience to unfollow you for using so many hashtags that it no longer feels genuine.
GET INFLUENCER HELP An influencer is someone within a specific industry that has a large following and that people actually listen to. In the mortgage industry, this could include CEOs of mortgage companies, presidents of industry organizations or leaders at popular industry technology companies. Influencers have an irrefutable impact when it comes to pushing products and services to audiences on social media. Ask them to partner with you for a Q&A session, blog post or live video. Then, whether they post it or you share it and tag them, you will boost your reach and credibility. When choosing an influencer, it’s important to keep three key things in mind. The first is their relevance. You want to choose someone who is going to be relevant to your target audience. The second is reach. Be aware of how many people you have the potential to reach based on your audience and theirs. Lastly, consider the amount of resonance the content will have. You want to make sure that the audience will be engaged with the content and that it will have a connection that they will remember.
THINK OUTSIDE OF THE BOX Not every connection you make has to be a lead. It’s also good to focus on growing your network to other professionals that could eventually become a source for referrals. A great tip is to make connections that may
seem unconventional. Certified public accountants and financial advisors are great connections because they know their clients’ budgets, work with them on financial planning and could potentially bring in a borrower that is looking to get a new home or refinance in order to save money. Divorce attorneys are another beneficial connection. They are guiding people during times where they are making changes in their lives. And when one person needs a new home, and the other potentially needs a cash-out refinance, they can easily recommend you as someone to go to. Also, consider growing your network with all the people you come in contact with throughout the homebuying process. Of course real estate agents come to mind, but also try to connect with appraisers, title agents, home inspectors, builders and general contractors. It’s important to remember when building connections for potential referrals that it’s a two-way street. If your connection becomes a consistent referral base for you, you should also be referring new clients to them. That way, you’re building a relationship that is beneficial to both parties involved.
CREATE CONNECTIONS WITH CONTENT Another way to drive followers is by generating content that is engaging, varied and relevant to your audience. Adding content that is valuable will allow you to become a go-to resource for information and will create deeper connections to your network. Don’t forget to show your human side, too. Engaging content can be anything that results in a reaction from your followers or your team. For example, hosting a social contest where your network has to do something, such as liking, posting or sharing your content. Now, your followers are participating in what you’re offering. Another example of this is posting pictures of your clients’ closings and testimonials and tagging the borrower, real estate agent and anyone else involved. People love
being celebrated and, by tagging them, you’re engaging with them while reaching their networks as well. When thinking of content that is engaging, don’t forget to engage with your own team. This can be done by sharing a company milestone or event that includes pictures of your team and tagging the people involved. Or, highlighting a team member for achieving something great. Engaging with your team is a great way to make them feel important and they’ll be more likely to share the post to their network. Not only should your content be engaging, but it should also be relevant. Relevant content is anything that has a shared interest between your business and your audience. For example, many new homebuyers aren’t familiar with a lot of the terms we use in the mortgage industry. Use that as an opportunity to build trust and become a resource by posting content about mortgage terms or processes that can help simplify them and educate your audience. Other relevant content can include job postings. Your next team member could be someone you already know or somebody they know who is looking. Also, sharing real estate listings can help out your referral network or help a borrower find their dream home. Lastly, and one of the most important things, is to create content that is varied and attention-grabbing. Great content comes in all forms— text, images, infographics, memes, video, published articles. All of these work, just don’t forget to switch it up. Think about what form of content works best for the message you are trying to deliver. Is it something quick that can be captured in a photo? Is it something a bit longer that would be better digested in a video? Be sure to know how to deliver your content so that it provides the best value to your network and potential connections.
Sarah DeCiantis leads United Wholesale Mortgage’s marketing, public relations, advertising, social media, creative and CRM initiatives.
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NATIONAL MORTGAGE PROFESSIONAL
Calendar of Events
WED-SAT
Aug 5–8
TUES
Aug 11
FRI–SUN
AUG 21–23
WED
SEPT 02
THUR
SEPT 10
WED–SAT
SEPT 16-19
THUR
SEPT 17
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AUGUST 2020 Wednesday-Saturday, Aug. 5-8 2020 FAMP State Convention & Trade Show Hilton Orlando Bonnet Creek 14100 Bonnet Creek Resort Lane Orlando, Florida For more information, visit OurFAMP.org. Tuesday, Aug. 11 2020 Carolinas Connect Mortgage Expo Embassy Suites Hilton Charlotte 4800 South Tryon St. Charlotte, North Carolina For more information, visit CarolinasConnectMortgage.com. Friday-Sunday, Aug. 21-23 Originator Connect 2020 Caesars Palace Hotel & Casino 3570 Las Vegas Blvd. South Las Vegas, Nevada For more information, visit OriginatorConnect.com. SEPTEMBER 2020 Wednesday, Sept. 2 2020 Arizona Mortgage Expo Wild Horse Pass Casino & Resort 5040 Wild Horse Pass Blvd. Chandler, Arizona For more information, visit AZMortgageExpo.com. Thursday, Sept. 10 2020 Texas Mortgage Roundup—Dallas DoubleTree by Hilton Dallas 4099 Valley View Lane Dallas, Texas For more information, visit TXMortgageRoundup.com. Wednesday-Saturday, Sept. 16-19 NAMMBA CONNECT 2020 The Westin Buckhead Atlanta 3391 Peachtree Road NE Atlanta, Georgia For more information, visit NAMMBACONNECT.org. Thursday, Sept. 17 2020 California Mortgage Expo—Glendale Hilton Los Angeles North/Glendale 100 West Glenoaks Blvd. Glendale, California For more information, visit CAMortgageExpo.com.
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THUR
SEPT 24
THUR
OCT 01
SUN–THUR
OCT 04–08
WED
OCT 07
TUES
OCT 13
WED
OCT 21
WED–FRI
OCT 28–30
Thursday, Sept. 24 2020 Chicago Mortgage Originators Expo Holiday Inn Chicago SW 6201 Jollet Road Countryside, Illinois For more information, visit ChicagoOriginators.com. OCTOBER 2020 Thursday, Oct. 1 2020 Colorado Mortgage Summit Embassy Suites by Hilton Denver Tech Center North 7525 East Hampden Ave. Denver, Colorado For more information, visit COMortgageSummit.com. Sunday-Thursday, Oct. 4-8 37th Annual Regional Conference of MBAs Hard Rock Casino Hotel 1000 Boardwalk Atlantic City, New Jersey For more information, visit MBANJ.com. Wednesday, Oct. 7 2020 Great Northwest Mortgage Expo— Washington Edition Hilton Bellevue 300 112th Ave. SE Bellevue, Washington For more information, visit GreatNorthwestExpo.com. Tuesday, Oct. 13 2020 California Mortgage Expo—San Francisco Radisson Hotel Oakland 8400 Edes Ave. Oakland, California For more information, visit CAMortgageExpo.com. Wednesday, Oct. 21 2020 Suncoast Mortgage Expo Embassy Suites Tampa—USF 3705 Spectrum Blvd. Tampa, Florida For more information, visit SuncoastMortgageExpo.com. Wednesday-Friday, Oct. 28-30 Ultimate Mortgage Expo Hotel Monteleone 214 Royal St. New Orleans, Louisiana For more information, visit UltimateMortgageExpo.com.
NATIONAL MORTGAGE PROFESSIONAL
Calendar of Events
THUR
NOV 05
WED
NOV 11
THUR
NOV 19
TUES
DEC 08
WED
DEC 16
THUR–FRI
JAN 14–15
NOVEMBER 2020 Thursday, Nov. 5 2020 Utah Mortgage Expo & Show Park City Marriott 1895 Sidewinder Drive Park City, Utah For more information, visit UtahMortgageShow.com. Wednesday, Nov. 11 2020 New York Mortgage Expo Crowne Plaza Suffern 63 Executive Blvd. Suffern, New York For more information, visit NYMortgageExpo.com. Thursday, Nov. 19 2020 Texas Mortgage Roundup—Houston Sheraton North Houston at George Bush Intercontinental 15700 John F. Kennedy Blvd. Houston, Texas For more information, visit TXMortgageRoundup.com. DECEMBER 2020 Tuesday, Dec. 8 2020 Great Northwest Mortgage Expo— Portland Edition Holiday Inn Portland South 25425 SW 95th Ave. Wilsonville, Oregon For more information, visit GreatNorthwestExpo.com.
SUN–THUR
MAR 21–25
TUES–THUR
APR 27–29
TUES
MAY 11
MARCH 2021 Sunday-Thursday, March 21-25 2021 Regional Conference of MBAs Hard Rock Casino Hotel 1000 Boardwalk Atlantic City, New Jersey For more information, visit MBANJ.com. APRIL 2021 Tuesday-Thursday, April 27-29 Maryland Mortgage Bankers and Brokers Association 2021 Mid-Atlantic Regional Conference MGM National Harbor 101 MGM National Ave. Oxon Hill, Maryland For more information, visit MARCMBA.org. MAY 2021 Tuesday, May 11 2021 Motor City Mortgage Expo DoubleTree by Hilton Detroit—Dearborn 5801 Southfield Expressway Dearborn, Michigan For more information, visit MotorCityMortgageExpo.com.
Wednesday, Dec. 16 2020 California Mortgage Expo—Irvine & OCN Mortgage Holiday Party Hilton Irvine/Orange County Airport 18800 MacArthur Blvd. Irvine, California For more information, visit CAMortgageExpo.com. JANUARY 2021 Thursday-Friday, Jan. 14-15 2021 New England Mortgage Expo Mohegan Sun Resort & Casino 1 Mohegan Sun Blvd. Uncasville, Connecticut For more information, visit NEMortgageExpo.com.
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 ericp@ambizmedia.com. All events are as of June 24, 2020 and are subject to change.
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FACEBOOK THOUGHTS
Always Smell The Milk
To see more by Nick, just go to www.facebook. com/nickroberson.
NICK ROBERSON
When someone yells “Stop!” I never know if it’s in the name of love, if it’s hammertime, or if I need to collaborate and listen.
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Restaurants before quarantine: I’m sorry, but I can’t let you take that drink outside. Now: Do ya’ll want some beers or vodka to go? Here’s a jug of margaritas for the road.
Quarantine Lesson #36: My daughter
Savannah, my new intern (now that school is out for the summer), did not appreciate me waking her up for work by playing my ukulele and singing to her. She told me to “Get Out!” I asked her if she knew what insubordination was, and she asked me if I knew what a ukulele suppository was. I think I am going to have to report her to HR. Are they still bad habits if you like them?
Quarantine Lesson #41: A remote control fart
machine is a great way to ensure people maintain proper social distancing while you are shopping. “I’m sorry,” and “I apologize” mean the same thing. Except when you’re at a funeral. You say postal carrier. I say mail escort.
Quarantine Lesson #37: Always smell the milk
before taking a big swig straight out of the carton. Cottage Cheese anyone? I thought my daughter was watching “The Purge” on TV last night, and then I realized it was just the news. You ever hear a rumor about yourself and actually wanna hear more? Like, damn – what did I do after that? I’m super lazy today. Which is like normal lazy, but with a cape.
Quarantine Lesson #35: No matter what day it feels like it should be, Wednesday is not Friday.
My obituary will probably say, “He knew better, but he did it anyway.”
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Quarantine Lesson #40: Eating 3-day old sushi is not a good idea, and I now know first-hand that wasabi will immediately enter your nasal canal while you are trying to keep from spitting your food across the room.
Everyone is finally washing their hands correctly. Next, we will work on turn signals. AND THIS: I am over all of the negative energy out there in the world! I have watched people I truly care about sling hate and negative energy at a level I have never witnessed before. I love and respect all of you so much. Please take a deep breath and shed the hate for a moment. I get it, things suck right now and the world has gotten a bit scarier. But casting hate into this world does nothing except ignite the flame of more hate. Instead of throwing stones at your brothers and sisters, remind them there is love in this world. The more love we spread, the less room there is for hate and ugliness. Do not look outward for someone to blame, look into yourselves for the solution. We each have it within us to make the changes we desire, the changes we all need, and the changes the world needs. You are all in my prayers tonight! I love each of you beyond measure.
Nick Roberson is a long-time mortgage industry veteran, a board member of the California Association of Mortgage Professionals, and is vice president of national sales at Act Appraisals. He’s a forthcoming and giving guy, who shares his…unique…perspective on work and life on his Facebook account.
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