National Mortgage Professional Magazine March 2017 by ambizmedia

MORTGAGE NEWS NETWORK INC. 1220 WANTAGH AVENUE WANTAGH, NEW YORK 11793

PRESORTED STANDARD U.S. POSTAGE PAID MORTGAGE NEWS NETWORK INC.

First Guaranty Mortgage Corpo orationÂŽ

CORRESPONDENT O DIV VISION:

We provide a saless and trading hybrid platform m, foccused on providing customeers both standard and advannced correspondent mortgagge deelivery options to accommodaate any stage of the mortgagge banking life cycle. FGMC is deesigned to build, develop andd nurture long-term corresponndent seller relationships. The h

AOT transactions for the companny. To date, FGMC has bid onn and been awarded over 70000 inddividual trades within various asset classes, ranging from new w origination, seasoned, scratcch & dent, d and MSR transactions, from Banks, Credit Unions, Morrtgage Bankers and Servicers oon a nationwide n basis.

W WHOLESALE DIVISION N:

We place the highest priiority on building, developinng and maintaining long-term relaationships with our originatioon partners. FGMC is a national appproved Single Family Issuer foor Ginnie Mae; an approved Fannie Mae MBS Issuer; approveed byy HUD, an FHA approved lendinng institution, approved by VA; A and approved by the USDA.

RETAIL A DIVISION: Retail Sales opportunities are available in our Distributed Retail annd

Seervice Center Divisions. Visit our o Careers page at fgmc.com/j/joinus.

WAREHOUSE LENDING G DIVISION:

Whether yoouâ&#x20AC;&#x2122;re an experienced mortgagge baanker that is adding or increasing your warehouse lines or an emerging banker requirinng the guidance necessary to begin warehouse lending, FGMCC Warehouse Lending offers thhe expertise x ti andd integrity i t it to t suppoortt the th growth th off your busine b i ss. And, A d as a FGMC Warehou h se cliient you get the CHOICE of which w investor to sell your loaans to. Choose from one of our appproved investors or sell loanss directly to our FGMC Correspondent channel.

fgmcco orrespondent.com m â&#x20AC;˘ fgmcwholesa ale.com â&#x20AC;˘ fgmc.com/joinus â&#x20AC;˘ fgm mcwarehouse e .com m

G USIN COMM HO I

TIO

APP

ER ION SS

FEDE RA

MORTGAGE BA NKERS ASSOCIATION

LEN

DIN G

T INS

2016 2015 2014

,+*)?A@?9> 9 ?,$#?#33;</62? 6>2A>4? >@8A818A<>?9>2?A@?><8?9.8A>4?<>?06B97=?<=?<;?98?8B6?2A;6.8A<>?<=?$! ,$#?<;?8B6?=626;;97?4</6;>:6>8-?,A;@8?+19;9>85?*<;84946?)<;3<;98A<>?$692 19;86;@?A@?7<. .9862? 98? ?+ +977<'@? <92&? 1A86? &?C5 C5@<>@?)<;>6;& ;&?"# "#? ? ? ?)<:39>5? * ? ? -

HUD-9208 (8-83) (HB4115.1)

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

B<26? @79 9>2? A.6>@62? 6>26;-

1)# / . 1). - .* */. */. 1 )*.1/. 0+0"1/

L I NK powered by OSI Exp press

=<;:987654382190/.90<..-0,932+97*):-((92<'&/:-9,<9,%-$:9#529"/,/9,<9/;,<!/ 0/ 90:-/,-9%<;(-9 -:(

&1 0"+. 1" +0"1/(95</.9< 0-:(9/:-9.< -"9< 9 ,%-$:98765438219.-&9 $( . ( 9<)-.9%<;(-9"/,-(9/."9 (/ -(9):$0-90%/. -( 98765438219/:-9.< -"9&%-.9 -:(9/:-9/;,<!/ 0/ 90:-/,-"9 <:9,%-$:9 $( . (

210/.-,+*)(.'1/&)1%.$0)#*"/ Save preferences useed <:9/;,<!/ 09 -:( 92-,9,%-9 << 9/."9 -- 9 90%<<($. 99 9%<;(-9)%<,<( 9876543819):< -9) /0-!-., 999999999 /0 :<;."90< <:( 9$!/ -(9<:9 <:"-:( 2 - . *&. * ).- /.21 /. . 0(( 1) .,<9!/ -9 0%/. -(9,%/,9/)) 9,<9,%-!9(;0%9/(9:- /::/. $. 9%<;(-9 )%<,<( 96559%<;(-9)%<,<(9/:-9/;,<!/ 0/ 9;) </"-" 1.'1 *"/ .210/.-,+*)(. ( %0 * .0< :/."-"9&$,%9 <;9/."9 <;:9REALTORSÂŽ

$($,9<;:9&- ($,-9 <:9 $"-<(9 9%<&9$,9&<: (

1( * )*(( +1 $2 2 /# 0;(,<!-:0/:- <($-*):-(( 0<!

n National Mortgage Professional Magazine n MARCH 2017

210/.-,+*)(.'1/&)1%.210/.'0%+ %0"1/(92/ -9 </.9 0<!)/:$(<.(9 9(/ -(9):$0-9:/. - 96. 9 </.9, )-( 99999 ." ( 9 6 9 6 9 6 9 2 6 9 -."-:90:-"$,(9 9!<:- 99999999999 #529 /,/9$(9 /,%-:-"9 (/ -(9):$0- 9,/*-( 9 36 9

6 69 $!$,( 9-,0 9=<;:9 </.(9/:-9/;,<!/ 0/ 9 0/ 0; /,-" 9 ;( 9:/,-(9/:-9;)"/,-"9"/$

NationalMortgageProfessional.com

MLS LinkTM is a "set it and forrget it" feaature

table of N A T I O N A L

34 The Real Reason Real Estate Agents Will or Will Not Do Business With You By Brian Sacks

M A R C H

44 Lykken on Leadership: Seven Ways to Deal With Conflict Between Employees By David Lykken

2 0 1 7

M O R T G

V O L U

A SPECIAL FOCUS ON “IT’S ALL ABOUT MARKETING!”

Help Your Referral Partners Market: A Four Step Process By Steven Winokur.................................................................................... 52

Marketing to U.S. Latinos By L. Maria Zywiciel...................................... 54

The CRM: An Invaluable Marketing Tool By Ericka Smith.................... 55

Three Important Social Media Tips for Originators By Heather Keith..57

Effective Uses of Direct Mail By Nikki Groff.......................................... 59

Marketing in the Technology Age By Chris Knowlton............................60

M M

Remaining Relevant: A New Era of Marketing By Rick Arvielo............ 62

76 The Case for Going Digital By John Pataky

How to Get an Undefined Return on Your Advertising Investment By Eric Weinstein...................................................................................... 65

Video Games or Game Changers? By Shirleen Von Hoffmann..............66

How a Strategic Marketing Plan Can Grow Your Business By Jim Anderson........................................................................................ 68

How to Get the Most Out of Leads By Josh Friend.............................. 70

Use Direct Mail to Drive Digital Marketing Success By Michelle B. Peel.................................................................................... 72

Make Your Advertising Budget Go Farther With Targeted TV Campaigns By David Waxman............................................................ 74

FEATURES

Easier Than You Think: Finding and Qualifying Borrowers for Non-QM Loans By Tom Hutchens........................................................8

The Elite Performer: Horizontal and Vertical Goals By Andy W. Harris, CRMS.......................................................................... 8

84 NMP’s Legends of Lending: Castle & Cooke Mortgage LLC By Phil Hall

90 Be Ready for the Millennials or Be Ready to Find a New Line of Work By Bubba Mills

Recruiting, Training and Mentoring Corner: Coaching Marketing By Dave Hershman.................................................................................... 10

V I S I T Company

Web Site

O U R

A D Page

Agility Resources Group...................................... www.agilityresourcesgroup.com ......................................88 Angel Oak Mortgage Solutions............................ www.angeloakms.com .............................. 64 & Back Cover Brokers Compliance Group.................................. www.brokerscompliancegroup.com .................................. 96 Caliber Home Loans.............................................. www.caliberwholesale.com .............................................. 79 CallFurst.com...................................................... www.callfurst.com ............................................................58 Carrington Mortgage Services, LLC...................... www.carringtonwholesale.com ................................ 7 & 72 Champions School of Real Estate........................ www.championsschool.com/loan .................................... 56 Citadel Servicing Corporation.............................. www.citadelservicing.com .............................................. 51 Document Systems, Inc./DocMagic...................... www.docmagic.com ...................................................... 11 First Guaranty Mortgage Corp. ............................ www.fgmccorrespondent.com .......... Inside Front Cover & 62 Flagstar Bank.................................................... www.flagstar.com/ae .................................................... 17 Franklin Flood.................................................. www.premierflood.com ..................................................65 Freddie Mac...................................................... www.freddiemac.com/loanofficers ....................................5 Freedom Mortgage Corporation.......................... www.freedomwholesale.com .......................................... 27 Geneva Financial, LLC........................................ www.genevafl.com ........................................................ 41 Goldwater Bank N.A........................................... www.thinkgoldwaterbank.com ........................................ 9 HomeBridge Wholesale...................................... www.homebridgewholesale.com .................................... 87 Integrity Mortgage Group.................................... www.integritymtgs.com ..................................................63 Lykken On Lending............................................ www.lykkenonlending.com ............................................ 70 MBS Highway.................................................... www.mbshighway.com/MNN .......................................... 45

T T

of contents

R T G A G E

L U M E

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

N U M B E R

3 Points With Mat Ishbia: President Trump vs. Dodd-Frank................16 Proactive Relationship Development vs. Reactive Recruiting By Steve Rennie........................................................................................ 18 NAMB Perspective: March 2017............................................................ 20 Recent Regulatory Reform Executive Order and Legislation:

How Might They Affect the CFPB? By Richard Horn............................ 24 Mortgage Fraud Is on the Rise Again By Andrew Liput........................ 26 Have You Seen a Dip in Your Marketing Results?................................28 MBA’s Mortgage Action Alliance: A Message From MAA Chairman Gene M. Lugat.............................................................. 30 How to Discover Your Borrower’s Buying Style By Kerry Johnson, Ph.D............................................................................. 32 OrigiNation: “Preferred” Lenders By Andy W. Harris............................ 38 The Mortgage Godfather: Change as a Philosophy By Ralph LoVuolo Sr................................................................................. 46 The Long & Short: The Business of Short Sales By Pam Marron........ 50 Breaking Through the Boys Club By Natalie Abadir-Verrette................ 82

COLUMNS New to Market..........................................................................................12 News Flash: March 2017 ........................................................................ 14 Heard on the Street................................................................................ 40 Outstanding Places to Work.................................................................. 92 NMP Calendar of Events........................................................................ 93 NMP Resource Registry.......................................................................... 94

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

Web Site

Page

Mortgage News Network (MNN).......................... www.mortgagenewsnetwork.com ............................ 80 & 81 NAMB+............................................................ www.nambplus.com ...................................................... 25 NAMB Kickstart.................................................. www.nambkickstart.com ................................................19 NAMMBA.......................................................... www.nammba.org ........................................................ 47 NAPMW............................................................ www.napmw.org ....................................................36 & 78 NAWRB............................................................ www.nawrb.com ............................................................86 New York Community Bancorp. Inc..................... www.nycbmortgage.com ................................................ 39 NMP U.............................................................. www.nmpucoaching.com .................................. 29, 67 & 75 NRMLA.............................................................. www.nrmlaonline.org .................................................... 73 OSI Express........................................................ www.osiexpress.com/mlsconnect ...................................... 1 Paramount Residential Mortgage Group, Inc....... www.prmg.net .......................... 13, 61 & Inside Back Cover Radian Guaranty................................................ www.radian.biz ............................................................ 69 REMN Wholesale................................................ www.remnwholesale.com .............................................. 15 ResMac, Inc....................................................... www.resmacb2b.com .................................................... 31 Ridgewood Savings Bank.................................... www.ridgewoodbank.com .............................................. 71 Secure Insight.................................................... www.secureinsight.com ..................................................37 TagQuest.......................................................... www.tagquest.com ........................................................ 89 The Bond Exchange............................................ www.thebondexchange.com .......................................... 54 United Wholesale Mortgage................................ www.uwm.com ........................................................ 48-49

MARCH 2017 Volume 9 • Number 3

FROM THE

publisher’s desk

It’s all about marketing! sk any mortgage LO what business they are in and they’ll probably tell you that 1220 Wantagh Avenue • Wantagh, NY 11793-2202 they are in the business of delivering the American Dream. They’re not wrong. Phone: (516) 409-5555 • Fax: (516) 409-4600 With homeownership at the lowest rate in decades, our industry is the doorway Web site: NationalMortgageProfessional.com to realizing that dream for millions of Americans. But how will they know we’re STAFF Eric C. Peck Joel M. Berman here to help? Marketing, baby! Editor-in-Chief Publisher - CEO (516) 409-5555, ext. 312 (516) 409-5555, ext. 310 The real business we’re in, at least on the origination side of the business, is marketing. ericp@mortgagenewsnetwork.com joel@mortgagenewsnetwork.com Our success depends upon our ability to prospect effectively for the right borrowers and Joey Arendt Beverly Bolnick then market to them persuasively until they see the value we offer and complete that loan Art Director VP-Sales & Marketing (516) 409-5555, ext. 307 (516) 409-5555, ext. 316 application. If we cannot get them to that point, none of us win. joeya@mortgagenewsnetwork.com beverlyb@mortgagenewsnetwork.com With that in mind, we offer you this special marketing issue of National Mortgage Scott Koondel Phil Hall VP of Operations Managing Editor Professional Magazine. It’s packed with tips, tricks and the wisdom that comes from (516) 409-5555, ext. 324 (516) 409-5555, ext. 312 industry experience. Whether it’s attracting more purchase business, unlocking the power scottk@mortgagenewsnetwork.com philh@mortgagenewsnetwork.com of social media or targeting a specific niche, this issue has what you’re looking for. Here’s Richard Zyta Francine Miller Social Media Ambassador Advertising Coordinator just a glimpse at what you’ll find inside … (516) 409-5555 (516) 409-5555, ext. 301 richardz@mortgagenewsnetwork.com francinem@mortgagenewsnetwork.com Like anything else, good marketing starts with good planning. Check out Jim Anderson’s Rick Grant Dylan Pollock article on page 68, “How a Strategic Marketing Plan Can Grow Your Business.” Also, on Special Reports Editor Administrative Assistant page 65, see Eric Weinstein’s “How to Get an Undefined Return on Your Advertising (570) 497-1026 (direct) (516) 409-5555, ext. 314 (516) 409-555, ext. 311 dylanp@mortgagenewsnetwork.com Investment, and Rick Arvielo’s “Remaining Relevant: A New Era of Marketing” on page 62. rickg@mortgagenewsnetwork.com Once you know where you’re going with your marketing campaign, it comes down to ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact tools and tactics. See “Effective Uses of Direct Mail” by Nikki Groff on page 59 and “Three VP-Sales & Marketing Beverly Bolnick at (516) 409-5555, ext. 316 or e-mail beverlyb@mortgageImportant Social Media Tips for Originators” by Heather Keith on page 57. You might also newsnetwork.com. be interested in Michelle B. Peel’s “Use Direct Mail to Drive Digital Marketing Success” on ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck page 72 and “How to Get the Most Out of Leads” by Josh Friend on page 70. at (516) 409-5555, ext. 312 or e-mail ericp@mortgagenewsnetwork.com. The deadline for submissions As you might expect, technology will continue to play a role in the marketing department. is the first of the month prior to the target issue. This month, we bring you “Marketing in the Technology Age” from Chris Knowlton on page SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgage60, and “Video Games or Game Changers?” by Shirleen Von Hoffmann on page 66. Also, newsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. check out on page 55, “The CRM: An Invaluable Marketing Tool” by Ericka Smith. Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the Also in our special section this month on marketing, you will find “Help Your Referral authors alone and do not imply the opinion or endorsement of Mortgage News Network Inc., or the offiPartners Market: A Four Step Process” by Steven Winokur on page 52 and “Marketing to cers or members of National Association of Mortgage Brokers and its State Affiliates (NAMB), National Association of Professional Mortgage Women (NAPMW), National Consumer Reporting Association (NCRA) U.S. Latinos?” by L. Maria Zywiciel on page 54. Without a doubt, this is the best marketing and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, and/or other state mortgage trade associations events, activspecial section we’ve ever published. ities and/or publications is available on a non-discriminatory basis and does not reflect the endorsement But we’re not just serving up great marketing advice in this issue. You’ll find “NMP’s of the product and/or services by Mortgage News Network Inc., NAMB, NAPMW, NCRA, and other state mortgage trade associations. Legends of Lending Profile on Castle & Cooke Mortgage LLC” in this issue on page 84. It’s National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, and/or other state mortgage our conversation with Adam Thorpe, Castle & Cooke’s president and chief operating officer, trade associations do not make any misrepresentations or warranties concerning the regulatory and/or compliance aspects of advertisers, products or services and/or the editorial content contained in Mortgage on the current state of mortgage banking and the challenges facing the industry and his News Network Inc. publications. National Mortgage Professional Magazine and Mortgage News Network Inc. reserve the right to edit, reject and/or postpone the publication of any articles, information or data. company. We also offer you Natalie Abadir-Verrette’s excellent piece on page 82 entitled, “Breaking Through the Boys Club: How to Get It Right, Starting With the Mortgage Industry” and “The Real Reason Real Estate Agents Will or Will Not Do Business With You” by Brian Sacks on page 34. Finally, for those of you still considering your technological future, we have “The Case for Going Digital” by John Pataky, executive vice president of the Consumer Division for EverBank on page 76 to guide you through this complex but necessary conversion. The efforts by NAMB—The Association of Mortgage Professionals to enhance professionalism continues, as the association re-launches its Lending Integrity Seal of Approval. Much like the commonly-known “Good Housekeeping Seal of Approval,” the Lending Integrity Seal of Approval is a sign to the homebuying public that you are a mortgage professional who has gone above and beyond their call of duty to meet the highest of ethical standards and training in your profession. NAMB is encouraging its members to become the “Best of the Best” through attaining this designation. More on the re-introduction of the Seal of Approval can be found in Ginny Ferguson’s article on page 20 in the NAMB Perspective section of this issue of by visiting LendingIntegrity.org. Also on the NAMB front, not only did they just wrap up their successful NAMB East Conference in Atlanta (more on that in the April issue), but the association continues to grow the mortgage originator channel through its KickStart program. The program awards mortgage brokers with startup grants in opening new businesses. This initiative between NAMB, powered by the sponsorship of United Wholesale Mortgage (UWM), was designed to help new loan originators and brokers succeed by assisting them in doing business in a compliant and professional manner. See page 22 of this month’s NAMB Perspective column for more on the KickStart program as NAMB Past President Rocke Andrews recognizes the newest grant recipients. That’s a lot to pack into a single issue, but when it comes to your success, we’ll always pull out all the stops at NMP. Enjoy the issue, send us your feedback and best of luck to all of you as we enter the spring homebuying season. Sincerely,

Joel M. Berman, Publisher-CEO NMP Media Corp. Joel@NMPMediaCorp.com

3% Down Mortgages Qualify more ﬁrst-time homebuyers with Freddie Mac Home Possible mortgages

■

Income limits as high as 170% AMI in high-cost areas — no limits in underserved areas

■

Mortgage insurance drops off at 80% LTV

Learn more at FreddieMac.com/LoanOfﬁcers

n National Mortgage Professional Magazine n MARCH 2017

Flexible sources of funds for a down payment, including gifts and grants

NationalMortgageProfessional.com

■

NAMB—The Association of Mortgage Professionals 2701 West 15th Street, Suite 536 l Plano, Texas 75075 l Phone: (972) 758-1151 l Fax: (530) 484-2906 l Web site: NAMB.org

NAMB 2016-2017 BOARD OF DIRECTORS E X E C U T I V E

Fred Kreger, CMC President American Pacific Mortgage 3000 Lava Ridge Court, Suite 200 Roseville, CA 95661 (916) 960-5824 Fred.Kreger@APMortgage.com

John G. Stevens, CRMS President-Elect RPM Mortgage Inc. 6045 West 10050 North Highland, UT 84003 (801) 427-7111 JohnGStevens@gmail.com

Valerie Saunders, CRMS Vice President RE Financial Services Inc. 25 Causeway Boulevard #101 Clearwater Beach, FL 33767 (727) 853-1000 Valerie@REFinServ.com

Olga Kucerak, CRMS Secretary Crown Lending Inc. 10 Broadway, Suite 110 San Antonio, TX 78205 (210) 828-3384 CrownLending@gmail.com

B O A R D

Andy W. Harris, CRMS Treasurer Vantage Mortgage Group Inc. 16325 SW Boones Ferry Road, Suite 100 Lake Oswego, OR 97035 (503) 496-0431, ext. 302 AHarris@VantageMortgageGroup.com

Harry H. Dinham, CMC NAMB COO Dinham Consulting 2701 West 15th Street, Suite 536 Plano, TX 75075 (972) 758-1151 Consulting@DinhamCompanies.com

Rocke Andrews, CMC, CRMS Immediate Past President Fairway Independent Mortgage Inc. 5151 East Broadway, #1700 Tucson, AZ 85711 (520) 886-7283 RAndrews@LendingArizona.net

D I R E C T O R S

Rick Bettencourt, CRMS Mortgage Network Inc. 52 Maple Street Danvers, MA 01923 (978) 304-0818 RBettencourt@MortgageNetwork.com

Chris Bettis Precision Capital 4710 Village Plaza Loop, Suite 140 Eugene, OR 97441 (541) 284-8098 Chris@PrecisionCapital.net

Linda McCoy, CRMS Mortgage Team 1 6336 Piccadilly Square Drive Mobile, AL 36609 (251) 650-0805 Linda@MortgageTeam1.com

Michele Velez, CMC Supreme Lending 1300 San Mateo, CA 94402 (650) 409-5347 Michelle.Velez@SupremeLending.com

Nathan Pierce, CRMS Advanced Funding Home Mortgage Loans 6589 South 1300 East, Suite 200 Salt Lake City, UT 84121 (801) 272-0600 NPierce@AdvFund.com

Robert Sweeney, CRMS Teachers Credit Union 600 East Carmel Drive, Suite 116 Carmel, IN 46032 (317) 625-3287 RSweeney@tcunet.com

Kimber White RE Financial Services Inc. 1620 West Oakland Park Boulevard #201 Oakland Park, FL 33311 (954) 306-3553 Kimber.LMT@gmail.com

National Association of Professional Mortgage Women 345 North Main Street, Suite 313 l West Hartford, CT 06117 l Phone: (860) 719-1991 l E-mail: NAPMW1@NAPMW.org l Web site: NAPMW.org

2016-2017 NAPMW NATIONAL BOARD OF DIRECTORS

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Kelly Hendricks National President (314) 398-6840 President@NAPMW.org

Cathy Kantrowitz President-Elect (845) 463-3011 PresElect@NAPMW.org

Susan Kerr Vice President (703) 871-1310 NVP1@NAPMW.org

Laurel Knight Vice President (425) 287-5351 NVP2@NAPMW.org

Glenda Mooney Secretary (314) 703-8714 NatSecretary@NAPMW.org

Judy Alderson Treasurer (918) 250-9080, ext. 300 NatTreasurer@NAPMW.org

Frances Reinhardt Parliamentarian (678) 331-1384 FReinhardt@FirstServiceTitle.net

Vincent Valvo Executive Director (860) 922-3441 NAPMW1@NAPMW.org

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

2016-2017 BOARD OF DIRECTORS

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

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

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

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

Scott Ledbetter Director (214) 833-3315 SLedbetter@LCGSolutions.net

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

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

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

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

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

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

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

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

Big Things on the Horizon for ARMCP in 2017 This year will bring some great new opportunities to the Association of Residential Mortgage Compliance Professionals™ (ARMCP™), currently consisting of nearly 1,600 members. ARMCP™ will soon be launching its own Web site to fulfill the needs of residential mortgage compliance professionals. ARMCP™ is the first and only independent, national organization in the U.S. devoted exclusively to residential mortgage compliance professionals. Our independence means we are not affiliated with any profit oriented corporation or enterprise. ARMCP™ membership consists solely of those members who have joined it on their own and were not solicited to join it via solicitations from third-party lists or subscriptions. Independence is the key to the value of our advocacy! There are currently two slots remaining for the Steering Committee. The Steering Committee will be drafting new by-laws, determining a nominating process, conference planning, and many other areas of interest relating to ARMCP™’s mission. If you are interested in joining the Steering Committee, email Info@ARMCP.org.

wh when he en n yo ou u nee ne ee ed dt to o cl c os clos se e a co conve on nv ve en ntiona tion na all lo oa a fo an or r an unconve un nc co on nv ve en ntiona tion na all c cllie en nt t,, ca alll carrin ar rr riin ng gton ton!!

APPR

al Rev

iew

Carrrington may help you close when others canâ&#x20AC;&#x2122;t. You kn now us as the go -to com mpany for closing low F ICO C government loans. Now, Carrington has deve eloped a strea amlined approach for pro ocessing and underwritin ng complex conventiona al loans. Our dedicated te eam of highly--experienced, unconventional loan specialists is yo our secret weapon for completing loans that others may not giv ve priority. Carrington ca an help you be a hero to your clients who have unusual or irregular pape erwork.

We are your go g -to lender for the to ough loans.

866 - 4533 2400

ÂŠ Copyrightt 2007-2017 Carrington Mortgage Services, LLLC headquartered at 1600 South Douglass Road d, Suites 110 & 200A, Anaheim, CA 92806. 800-561-4567. NMLS ID #2600. Nationwide Mortga age Licensing System (NMLS) Consumer Access webssite: www.nmlsconsumeraccess.org. AZ: Mortgag age Banker BK-0910745. CA: Licensed by the Dep partment of Business Oversight under the Califo ornia Residential Mortgage Lending Act, File 413 3 0904. CO: Check license status of your mortgage lo oan originator at www.dora.state.co.us/real www dora state co us/real-esta esta ate/index htm GA: Georgia Residential Mortgag ate/index.htm. ge Licensee 22721. 22721 IL: Illinois Residential Mortgag ge Licensee. Licensee MN765432632610/6.160-,+6/06,1/,+631/06.1631/,+,2/6+./,6*0)(6.'+,,&,1/6%1$,+6 Minnesota Law. L MO76#3220%+36"0&!.1 6 ,'32/+./3016 6 1 /./,6 ),76#3220%+36 ,23$,1/3.*6#0+/'. ' ',6 0.16 +0(,+6 3),12,6 6 6 6 0,* 6 ,,26 %&&3/ 6# 6 6NV: Mortgage Bro oker License 4068 (Residential Mortgage Lending). NJJ: Licensed by the N.J. Department of Banking an nd Insurance. NY: Licensed Mortgage Bankerâ&#x20AC;&#x201D;NYS Department of Financial Services. New York Mortgage M Banker License B500980/107664. OH76 4306#0+/'.',6 +0(,+6 )/6",+/3 )./,60 6 ,'32/+./3016#

6 4306#0+/'.',6 0.16 )/6",+/3 )./,60 6 ,'32/+./3016 #

6RI: Rhodee Island Licensed Lender, Lender License 201128 809LL. VA: NMLS ID 2600 (www.nmlsconsumera access.org). WA: Consumer Loan License CL2600. Also o licensed in AL, AR, CT,, DE, DC, FL, ID, IN, IA, KS K , KY, LA, ME, MD, MI, MS, MT,, NH, NM, NC, OK K, OR, PA, SC,, TN, TX, UT, WV, WI and WY. NOTIICE: All loans subject to credit, underwriting and d property approval guidelines. -,+,$6*0.16!+0$%)/26&. 6 .+ 6 62/./, 654,+,6326106'%.+.1/,,6/4./6.**6 0++0 ,+26 3**6 %.*3 6 ,2/+3)/30126&. 6.!!* 65432632610/6.6)0&&3/&,1/6/06*,1$ 65,+&2 6)01$3/30126.1$6!+0'+.&26.+,62% ,)/6/06)4.1',6 3/40%/610/3), 654326 information n is for mortgage professionals only and is not intended for distribution to consumers. Carrington Mortgage Services, LLC is not acting on behalf o of or at the direction of HUD/FHA or any governm ment agency. All rights reserved.

n National Mortgage Professional Magazine n MARCH 2017

OV E D

NationalMortgageProfessional.com

Underw Q/C Rev riting Review Apprais iew

Easier Than You Think: Finding and Qualifying Borrowers for Non-QM Loans By Tom Hutchens

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

he pipeline of new business for loan officers solely positioned in the agency space is in great jeopardy.

Since the recent spike in interest rates, refinances are rapidly disappearing along with a significant portion of the volume for loan officers across the U.S. However, those adapting to these shifting dynamics by adding non-QM mortgages to their arsenal of available products will be able to weather this storm with relative ease. But how do you go about closing non-QM loans? Angel Oak Mortgage solutions is answering this question through a series of Webinars (NationalMortgageProfessional.com/HelpMillions) geared toward helping loan officers tap into this massive untouched market of potential borrowers that do not qualify for agency products. Angel Oak offers non-QM loans that can provide credit to those who are self-employed, missing proper bank statements and need alternative income documentation, have low FICO scores or recently experienced a credit event such as bankruptcy or foreclosure. Tracking down these borrowers squeezed out of the agency market is the first step. Begin your search with three key referral sources: Realtors, builders and accountants/financial advisers. These folks are constantly working with individuals that do not qualify for agency mortgages but are in need of a loan. These referral sources are also largely unaware of the existence of non-QM loans and what they can do for millions of people across the U.S. It is imperative to educate these Realtors, builders and accountants/financial advisers on how you can expand the credit box through the use of non-QM products. Tools also exist that make qualifying these borrowers a quick and easy task. The “Quick Quote” functionality at AngelOakMS.com/QuickQuote is the perfect place to start. This functionality allows loan officers to plug in a few pieces of information, like FICO score, loan amount, LTV, etc. to see if a borrower will qualify. From there, loan officers can easily submit loan prequalification requests. In the fight to grow your pipeline, education is key. Angel Oak can even arm loan officers with flyers and marketing materials to take to referral sources that explain product details. Not to mention, as non-QM loans continue to catch on among your competitors, you do not want to be part of the minority that cannot offer these products. Instead, you’ll want to be on the top of referral sources’ lists when a borrower in need of a non-QM loan comes along. So don’t delay, get ahead of the competition now by offering these sought-after non-QM products. Tom Hutchens is senior vice president of sales and marketing at Angel Oak Mortgage Solutions, an Atlanta-based wholesale lender licensed in over 35 states and operating in the non-QM space for over 3 years. Tom has been in the real estate lending business for nearly 20 years. He may be reached at (855) 539-4910 orinfo@angeloakms.com.

SPONSORED EDITORIAL

the

elite performer Horizontal and Vertical Goals BY ANDY W. HARRIS, CRMS

any would agree that goal-setting is vital for all parts of life and especially in business. Without a clear vision and sight into where you want to be, objectives cannot be set or met. Most of us are so tied up in work that we spend most of our time working in our business versus working on our business. We need to develop goals in all areas to ensure that we excel at the fastest pace possible with the least amount of effort. I think most of us are so focused on vertical goals that we lose sight of our horizontal goals. A vertical goal is a goal that is moving you forward, upward, or factored around a vision of the future. It could be a number, a position or a forward target. The problem with only having vertical goals, however, is that you’re only looking forward and up and not paying attention to what surrounds you. Imagine traveling around the world on a boat in the ocean. It doesn’t matter how far you travel, the horizon never ends. You must recognize, appreciate, and utilize every tool around you on your journey. With vertical goals simple to understand and easy to set, what are horizontal goals? Horizontal goals are goals to utilize and maximize what surrounds you now that can help you meet your vertical goals. It’s your team members. It’s your organization. It’s your consistency with sleep, health and family. It’s developing good habits. It’s surrounding yourself with others that support you. By preparing and maximizing every resource and setting both horizontal and vertical goals, you are able to meet these goals much faster and passively work both in and on your business simultaneously. So don’t focus too hard. Take a break. Look both left and right. Listen and pay attention. Don’t gain sight of one vision and lose sight of another. Stay open-minded and coach others while also being coached. Embrace your gifts and talents, as well as the gifts and talents of others. With a well-rounded goal-setting view, you can roll forward and eliminate man of the speed bumps that come through vertical thinking on its own.

Andy W. Harris, CRMS is president and owner of Lake Oswego, Ore.-based Vantage Mortgage Group Inc. and past president of the Oregon Association of Mortgage Professionals. He may be reached by phone at (877) 4960431, e-mail AHarris@VantageMortgageGroup.com or visit VantageMortgageGroup.com.

GOLDWATER BANK N.A.

REDEFINING THE GOLD STANDARD FOR THE MORTGAGE INDUSTRY 9

The leadership team of Goldwater Bank's Mortgage Division is pleased to welcome Brian R. Barnes and his team of professionals to the Goldwater family. Brian's success in the Northern California Market will be taken to the next level at Goldwater thanks to the national capability of the bank's federal charter.

At Goldwater Bank, we focus on sustainable growth, quality originations, and innovative solutions. We’re not interested in being the biggest, just the best! If you’re like Brian and his team and ready to write the next chapter of your own successful story, or a highproducing originator that would like to join a team that knows what it takes to be successful, we would like to share what we can do to help you achieve your goals.

Rett Babb, Divisional Manager, Branch Sales and Business Development Goldwater Bank, N.A. - Mortgage Division Direct: 936.521.2786 Cell: 713.503.8898 32310 Tamina Road, Magnolia, TX 77354

www.thinkgoldwaterbank.com This information is provided exclusively to mortgage professionals and is not intended for public use. This is not an advertisement to extend consumer credit. All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Not all products are available in all states or for all loan amounts. Other restrictions apply. Goldwater Bank. NMLS# 452955. Equal Housing Lender.

n National Mortgage Professional Magazine n MARCH 2017

“We are honored to have Brian and his team join our company and are looking forward to helping them realize their ambitious goals!” said Charles Owens, Senior Vice President, National Retail Sales Executive at Goldwater Bank’s Mortgage Division.

NationalMortgageProfessional.com

“Goldwater Bank has given us the market power to get loans closed but more importantly to grow again. Without the brick/mortar restrictions, we now have full State and Fed licensing, and 48 state lending capabilities. We found our new home," said Brian R. Barnes, NMLS # 211921.

Recruiting, Training and Mentoring Corner

Coaching Marketing BY DAVE HERSHMAN

could not even begin to be able to count how many times and manager has asked me for help coaching their loan officers by using this statement: “I need help getting my loan officers out on the street.” My vision has always been of a loan officer being kicked out of the office and subsequently standing at a street light holding a sign: “Want a Mortgage?” Surely, as managers, we can give our sales force more specific directions than to “get out of here and sell.” Or “watch what I do and do that.” Surely there has to be a bit more to the coaching side of the task. On the other hand, I do realize that the majority of sales managers are very, very busy. Over ninety percent of sales managers in our business are also producers. Thus, between producing, managing a pipeline, recruiting, administrative tasks and more—it leaves little time for coaching and mentoring. And even worse, there is little training in the industry to teach our managers how to coach. The vast majority of our managers were selected for the position because they were good producers and the assumption was that they would be able to show others how to produce as well. But again, though some aspects of this strategy are valid–“show and tell” is not always the best approach and certainly can’t be the entire approach. This dilemma is exacerbated

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

by the fact that street loan officers are indeed out on the street. If you are supervising an in-house staff that is taking calls which you can monitor, it is a lot easier to keep track of what your staff is doing and fashion adjustments. On the other hand, when your loan officers are not in the office, do you know where they are and what they are saying to prospective referral sources? It would be nice to be a fly on the wall, but that is not possible. Case in point … I hired a loan officer some 30 years ago. He was very young and had all the tools. He failed miserably. He came back into the business a few years later and for the past 20 years, has been a national top producer. I got the chance to catch up with him and ask him why he failed the first time. The answer? He was young and not serious about it. When he went on the street, instead of meetings, he was likely to be in a bar. He had all the tools and when he got back in, he got serious. I had no idea where he was during his earlier attempt. Of course, coaching is more than knowing where your loan officers are. You must help them fashion a plan and that plan is likely to be different from yours. The main reason for this divergence is the fact that referral-based loan officers will get their referrals from their sphere and their sphere will be different than yours. Interested in seeing an example of a business plan from our “Sales and Marketing Course?” E-mail me at

Dave@HershmanGroup.com and I will send you the document. As a coach, you will not only be responsible for role playing so that they know what to say in different situations, but you will be responsible for helping them recognize and take advantage of opportunities. That is what you did when you got started, and that is what most top producers do. Thus, it is not “do what I do”—but to delve deeper into their sphere so that you can open their eyes to the opportunities. Then you coach them through these opportunities. For example, many do not see the opportunities to leverage more business from the loans they originate. In reality, they could forgo most other marketing opportunities and make a living just from taking advantage of the sphere of a transaction. The opportunities are endless in this

regard. But most are focused upon closing the transaction and looking for the next one, instead of seeing these opportunities right under their noses. That is the biggest difference between top producers and the rest of the industry. Top producers see and take advantage of opportunities. However, when we go to these big marketing events, the top producers are there presenting “what I do.” The majority go home and try “what they do” and don’t get the same results. Why? Because their eyes are not open to the opportunities. The tasks are great examples, but something is missing. Thus, coaching and mentoring is the process of helping your loan officers in many different ways, but the most important task is to open their eyes. If not, saying or doing the right things will not help as much.

Dave Hershman is a top author in this industry with seven books published, as well as the founder of the OriginationPro Marketing System and the OriginationPro’s online comprehensive mortgage school. Dave is also director of Branch Support for McLean Mortgage. He may be reached by e-mail at Dave@HershmanGroup.com or visit OriginationPro.com.

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2017

newtomarket Silver Hill Announces 80 Percent LTV for SmallBalance Commercial Mortgages

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Silver Hill Funding, a division of Bayview Loan Servicing LLC, has announced that they will now offer 80 percent loan-to-value (LTV) financing on small-balance commercial mortgages from $250,000 to $2 million. With this new program update, business owners and investors can qualify for 80 percent LTV financing on commercial transactions involving multifamily and mixed-use properties. Maximum LTVs on Silver Hill’s other eligible property types– which include light industrial, warehouse, self-storage, retail, office, automotive and mobile home parks–have also increased to 75 percent. “Eighty percent LTVs are rare for non-bank lenders in the current small-balance commercial mortgage market–we believe this program update solidifies Silver Hill’s status as a leader in the industry today,” said Silver Hill Managing Director Leslie Smith. “We’re excited to give mortgage originators an opportunity to provide a new solution for their creditworthy clients. Indecomm’s IncomeGenius Now Available Via Encompass

Indecomm Global Services has announced that its income calculation and analysis platform, IncomeGenius, is now available

through Ellie Mae’s Encompass all-in-one mortgage management solution. The seamless integration allows lenders to perform an income analysis with IncomeGenius directly through Encompass to drive quality and efficiency in the loan origination process. IncomeGenius is a Web-based SaaS solution that uses Optical Character Recognition (OCR) to automate the income calculation process. The integration of documents and data from Encompass to IncomeGenius is an effective way for clients to improve their underwriting process. It simplifies the task of calculating income for borrowers and highlights problem areas requiring the underwriter’s attention. Lenders see a dramatic improvement in efficiency, especially with those that include tax returns. This replaces traditional Excel calculations and macros, resulting in significant time savings for underwriters, and boosts their throughput with more loans processed in a day. Ellie Mae is a provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s Encompass all-in-one mortgage management solution provides one system of record that enables banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. “Indecomm Global Services is delighted to partner with Ellie Mae,” said Rajan Nair, CEO of Financial Services, Indecomm Global Services. “Our secure, seamless integration with Encompass enables our clients

to simplify the process of ordering an income calculation through IncomeGenius, so they can more efficiently process mortgage loans and grow their business. We look forward to a long and successful relationship with Ellie Mae.” Parkside Lending Launches HomeReady Mortgage by Fannie Mae and Expands Jumbo Program

Parkside Lending LLC has announced that it has expanded its offering to include Mortgage by Fannie Mae, an affordable lending option for low- to moderate-income borrowers, providing home loans for those who otherwise may not qualify for a conventional Fannie Mae loan. The guideline highlights include lower downpayment requirements, flexible income from non-traditional sources, and reduced MI coverage for FICOs 680 or higher that can be removed before the life of the loan. “As a company that is exclusive to the Wholesale and Non-Delegated Correspondent Channels, Parkside’s top priority is to provide mortgage professionals with a wide range of products that meet their borrowers’ varying needs,” said James Lamparter, executive vice president of Sales for Parkside Lending. “We care that there are options for creditworthy borrowers of any circumstance. Combined with our recently expanded FHA guidelines,

adding HomeReady allows Parkside to support an even broader segment of the mortgage market.” Parkside has also announced the expansion of its jumbo loan program and is now offering jumbo mortgages (fixed rates or ARM options) with LTVs as high as 95 percent with or without mortgage insurance (MI). Unlike other jumbo programs that feature high LTV with MI, Parkside Lending’s new Jumbo III offers both lender-paid and borrower-paid MI options. Borrower-paid MI allows the borrower to take advantage of less expensive mortgage insurance and does not stay on for the full life of the loan. Parkside Lending provides four Jumbo products (Jumbo I, Jumbo III, Expanded Jumbo and Premier Jumbo), with robust guidelines and aggressive pricing. “As a wholesale lender that doesn’t have a retail channel, our number one goal is to provide mortgage professionals with a suite of products for their borrowers’ varying circumstances,” said Clint Rosenthal, executive vice president of Sales for Parkside Lending. “There are creditworthy borrowers that are underserved in the jumbo market; therefore, we continue to enhance our jumbo offering to meet the range of needs in the marketplace.” Altisource Introduces Suite of FHA Offerings

Altisource Portfolio Solutions SA has announced a specialized Federal Housing Authority (FHA) offering, taking advantage of its end-to-end product suite to assist in improving controls and

mitigating risk throughout the lifecycle of servicing an FHA asset. The Altisource FHA offering provides servicers the ability to help reduce timelines and increase efficiencies with transparency through a customizable approach. From integrated field services, title services and property repairs to Claims Without Conveyance of Title (CWCOT) Auction Services, the complete suite of products is backed by the power of proprietary data and analytics to help further reduce risk and cost for servicers. In 2016, Altisource continued to grow its Servicer Solutions product suite, increasing its offerings to existing clients and significantly expanding its client base. “We are extremely committed to offering our customers access to customized mortgage and real estate solutions that help drive results,” said John A. Vella, chief revenue officer at Altisource. “We have developed our solutions by leveraging company-wide capabilities combined with our extensive industry experience, compliance and control environment, innovative technology and data analytics to deliver inventive approaches which help mitigate risk in an ever-changing regulatory environment.”

ARMCO Adds New Capabilities to Its ACES Audit Technology

ACES Risk Management (ARMCO) has announced that it has added to and enhanced business user-friendly configuration functionality to its

ACES Audit Technology solution. The additions enable servicers to standardize and easily modify compliance-critical questionnaires to follow when interfacing with borrowers amid the introduction of changing rules that are specific to servicing entities. The new additions made to ARMCO’s ACES Audit Technology puts the ability to create and make changes to compliance questionnaires directly in the hands of continued on page 18

n National Mortgage Professional Magazine n MARCH 2017

Veros Real Estate Solutions has announced that its Sapphire valuation management platform is now available through Ellie Mae’s Encompass all-in-one mortgage management solution. The seamless integration allows lenders to place orders through Encompass to Sapphire, where the clients can manage their own panel of appraisers or AMCs to drive quality and efficiency in the loan origination process. The secured integration gives clients of Ellie Mae the option to order appraisals directly through their own panel of appraisers as an alternative to ordering through AMCs. While never losing connectivity with Encompass workflow, lenders now have access to engage their vendors in a more direct approach utilizing routing and review rules specific to their organization. “More and more lenders are seeking greater direct control of the vendor management and

of the Encompass-Sapphire connection will appreciate the direct influence on transparency, fees, timelines and overall quality control.

NationalMortgageProfessional.com

Veros Integrates With Ellie Mae’s Encompass

report acceptance components of the appraisal workflow–Veros’ Sapphire integration provides that capability,” said David Rasmussen, senior vice president of operations for Veros. The integration offers mortgage lenders of all sizes the ability to leverage their own pool of appraisers specific to their organization and rules within Sapphire. Because Sapphire is able to manage orders automatically, incorporating both system- and customerspecific validation rules, users

NEWSFLASH y MARCH 2017 y NMP NEWSFLASH y MARCH 2017 y NMP NEWSFLASH y MARCH 2017 y

UWM Ranked Top Wholesale Lender for Second Consecutive Year

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

United Wholesale Mortgage (UWM) has been ranked the top wholesale mortgage lender in the nation for 2016, according to data reported by Inside Mortgage Finance. Claiming the top spot for the second year in a row, UWM produced an all-time company record loan volume of just under $23 billion for the year, a 77 percent year-over-year increase from 2015. “It’s an awesome honor to place as the number one wholesale lender in the country for two years in a row,” said Mat Ishbia, president and CEO of UWM. “We’re very grateful for the strong partnerships we have with mortgage brokers, and we credit our partners across America who are growing faster than the rest of the market just like we are. This achievement is also a testament to the amazing talent and efforts of all our UWM team members.” UWM’s 2016 loan volume of $23 billion more than doubled the production of all wholesale lenders and nearly doubled second-place Caliber Home Loans, which produced $13.7 billion. UWM captured 11.1 percent of the wholesale market share. The $9.2 billion gap between UWM and Caliber is the largest gap between numbers one and two in nearly 10 years.

“UWM is a true partner and has successfully helped grow our business,” said Justin DeJoseph, CEO at Garden State Home Loans in New Jersey. “They’re first on the list and check every box when it comes to innovation, easy-to-use technology and exceptional service.” On nearly a weekly basis throughout 2016, UWM delivered innovative products, services, marketing tools and technology, all designed to champion brokers’ business growth. UWM brought momentum to the wholesale space by introducing a conventional one percent down program, being first to market with doc-less technology that automates the loan process, and providing brokers with a marketing toolbox to help them grow their clientele. UWM was also the founding sponsor of NAMB’s KickStart program, an initiative aimed at growing the wholesale channel by recruiting loan originators from retail lenders to start their own broker shops with seed money up to $10,000. Trump Seeks $6.2B Cut to HUD Budget

President Trump’s Fiscal Year 2018 budget blueprint requested

$40.7 billion in gross discretionary funding for the Department of Housing and Urban Development (HUD), which is $6.2 billion lower than the previous fiscal year’s level, or a 13.2 percent decrease. The budget blueprint issued by the administration would allocate more than $35 billion for HUD’s rental assistance programs while proposing “reforms that reduce costs while continuing to assist 4.5 million low-income households.” However, the blueprint offered no hint regarding what the reforms would cover and how much savings they would generate. The budget blueprint eliminates the Community Development Block Grant program, which received $3 billion in the previous fiscal year. The administration defended this decision by stating the program “is not well-targeted to the poorest populations and has not demonstrated results.” It also eliminates the HOME Investment Partnerships Program, Choice Neighborhoods, and the Selfhelp Homeownership Opportunity Program, which received a combined total of $1.1 billion in the previous fiscal year. Also on the chopping block is funding for Section 4 Capacity Building for Community Development and Affordable Housing, which received $35

million in the previous fiscal year. The administration stated that the program “is duplicative of efforts funded by philanthropy and other more flexible private sector investments.” However, the budget blueprints calls for $130 million for the promotion of healthy and lead-safe homes, an increase of $20 million from the previous fiscal year. The budget blueprint also voiced support for “homeownership through provision of Federal Housing Administration mortgage insurance programs,” but no price tag was attached to that aspect of the HUD budget. Guild Mortgage Donation Enables Disabled Veterans to Walk Again

Guild Mortgage has launched the Guild Giving Foundation, a vehicle for administrating the company’s philanthropic and charitable giving initiatives in the communities it serves. As its first major commitment, Guild donated $116,000 to the Infinite Hero Foundation, which helps provide access to innovative rehabilitation programs that make an enormous positive change in the lives of disabled military veterans and their families. At Guild’s request, the Foundation used this donation to purchase a wearable robotic exoskeleton from ReWalk Robotics, designed

areas (63 percent; 43 percent last quarter). However, renters were conspicuously less than confident about their homeownership prospects. Fiftysix percent of renters said now is a good time to buy, a drop from the previous quarter (57 percent) and a year ago (62 percent). And 80 percent of homeowners think now is a good time to make a home purchase, up from 78 percent in the previous quarter, but down from 82 percent a year earlier. “Inventory conditions are even

worse than a year ago and home prices and mortgage rates are on an uphill climb,” said NAR Chief Economist Lawrence Yun. “These factors are giving many renter households a pause about it being a good time to buy, even as their job prospects improve and wages grow. Unless there’s a significant boost in supply levels this spring, these constraints will unfortunately slow or delay some prospective buyers’ pursuit of purchasing a home.” continued on page 16

n National Mortgage Professional Magazine n MARCH 2017

NAR Finds Consumer Confidence at New Highs Consumer confidence in the economy is on the rise, according to new first quarter data released by the National

Association of Realtors (NAR). In the trade group’s latest Housing Opportunities and Market Experience survey, the 62 percent of respondent households that stated the economy is improving—up from 54 percent from the fourth quarter of 2016, and 48 percent one year earlier. This level of confidence was highest share in the survey’s five-quarter history. On a regional basis, the greatest consumer confidence was found in respondents living in the Midwest (67 percent; 51 percent last quarter) and rural

NationalMortgageProfessional.com

for individuals with spinal cord injuries. ReWalk’s technology enables individuals with spinal cord injury to stand upright, walk, turn and climb and descend stairs. The integration of a wearable brace support, a computer-based control system and motion sensors allow independent, controlled walking while mimicking the natural gait patterns of the legs. Guild’s exoskeleton was donated to the VA San Diego Healthcare System Spinal Cord Injury Center, which provides care to veterans and active duty personnel with spinal cord injuries and disorders in San Diego and Imperial Counties, Arizona and Southern Nevada. “Rather than directing this exoskeleton to one single individual, this unit will serve hundreds of patients who would otherwise be wheelchair-bound,” said Jeff Tarbell, regional vice president at Guild. “We wanted to honor those who made the biggest sacrifices for our country, by giving back with a gift that makes a huge difference in their lives.” The goal of the Guild Giving Foundation is to encourage volunteerism among Guild’s more than 3,600 employees, provide shelter, support financial literacy and deliver on its mission to inspire positive change. Guild currently supports dozens of local and national charities through direct donations and company-backed volunteer time under its Guild Giving program. The new foundation will track individual charitable activities and initiatives nationwide, report on results and recognize best practices during an annual awards program. “Supporting our communities through providing shelter, financial literacy and education are critical elements of the work we do every day,” said Mary Ann McGarry, president and CEO. “Our Guild Giving initiative is about much more than writing a check. We encourage all of our employees, from the leadership team and home office staff, to branch managers, loan officers, and local staff to be positive contributors and sources of inspiration to every community we serve.”

President Trump vs. Dodd-Frank By Mat Ishbia

here are several questions swirling around about President Trump and Dodd-Frank. Will DoddFrank be eliminated? What does it mean for the industry? Does that mean TRID will go away? No, none of that is going to change.

President Trump wants less new regulations. For every new piece of legislation that is enacted, he wants two repealed. That might sound great to us, but it doesn’t apply to the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB). They could follow his lead, but they likely won’t. Big, swift changes across the board aren’t expected, but this will most likely be good for the economy and good for the mortgage industry in the long-term. There may be some minor changes as we move forward, but you can get used to the way business is being done right now.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Shocking downpayment study A nationwide survey conducted by the National Association of Realtors (NAR) showed that 87 percent of non-homeowners believe they need a 10 percent downpayment, or more, to buy a home. It’s crazy that people still think that way to this day. There are several great low down payment options out there, but the problem is that people just don’t know about them. Education is key, and it’s our job as mortgage professionals to give consumers all the information they need to make the best decision. People actually think they need to save up to 10 percent or 20 percent to buy a home–that’s likely a big reason why so many are renting! There are several other good options available to them, such as three percent down conforming loans like Home Possible and HomeReady, one percent down and 3.5 percent FHA. Teach people in your local market what they need to know. Freddie Mac changes Freddie Mac is making enhancements across the board–some are effective in early March and others go into effect later in the spring. These are positive action steps that are being taken to make things better throughout the industry: l On March 1, the condominium changes will go into effect, which means a converted former hotel can qualify as eligible condominiums if certain requirements are met. l Investor concentration limits are being adjusted. If you’ve been self-employed for more than five years, run LP and you will only need one year of tax returns. If you’ve been self-employed for less than five years, they will always require two years of tax returns. DU does not have that same requirement so you may have an opportunity to take advantage of that in less than five years with DU. l Rolling out a program that allows brokers to assess mortgages for borrowers without credit scores.

Mat Ishbia is president/CEO of United Wholesale Mortgage (UWM), the nation’s number one wholesale lender. A leading advocate of mortgage brokers, Mat has changed the lending platform, turning UWM into a $23 billion company and a top national workplace.

SPONSORED EDITORIAL

nmp news flash

continued from page 15

CoreLogic Chief Executive Nallathambi Dies at 55 Anand Nallathambi, president and CEO of CoreLogic, passed away in early March at the age of 55. Nallathambi died more than two weeks after his company’s board of directors granted him a medical leave for an unspecified illness. The board named Chief Operating Officer Frank Martell as acting president and CEO on Feb. 13, and no immediate successor to Nallathambi has been named. Born in India, Nallathambi came to the U.S. when he was 20 to pursue a master’s degree in business administration from California Lutheran University in Thousand Oaks. Early in his career, he held financial management positions at First Interstate Bancard, the credit card operations of First Interstate Bank. He joined First American Corporation in 1995 and held several positions before becoming president of the company’s Credit Information Group, the forerunner of CoreLogic. When CoreLogic was transitioned out of First American to become a standalone entity in 2010, Nallathambi was the new company’s leader. “Anand led the transformation of CoreLogic into a leader in the global housing ecosystem,” Martell said. “He was one of those extraordinary people that everyone loved and wanted to be around.” Foreclosure Activity Hits 11-Year Low

February’s foreclosure activity was the lowest recorded since November 2005, according to ATTOM Data Solutions. Last month also marked the 17th consecutive month when foreclosure activity declined on a year-over-year basis. However, foreclosure starts in February increased seven percent from January to February. And foreclosure starts

increased on a year-over-year basis in 15 states and the District of Columbia, with the greatest increased in Alabama (up 40 percent), Texas (up 26 percent) and New Jersey (up 24 percent). But foreclosure starts were also down 13 percent from a year ago—the 20th consecutive month with a year-over-year decrease in foreclosure starts. Furthermore, bank repossessions (REO) in February decreased seven percent from the previous month and were down 18 percent from a year ago. Yet 15 states and the District of Columbia posted a year-overyear increase in REOs, most notably Massachusetts (up 117 percent) and Delaware (up 90 percent). Don Frommeyer Resigns as NAMB CEO NAMB—The Association of Mortgage Professionals has announced that CEO Donald J. Frommeyer, CRMS, has decided to leave his position as chief executive officer of the association. “Now is a good time for me to take a step back from NAMB and focus on my family and my business,” said Frommeyer. “I have tremendous confidence in the individuals who are leading our association into the future, and I know that there are great things ahead for both NAMB and our industry.” To ensure the smoothest possible transition, the NAMB Board of Directors will collectively assume the responsibilities that Frommeyer has been handling. The NAMB Board is not currently planning to conduct a national search or immediately fill the position of CEO vacated by Frommeyer. “I have a tremendous amount of respect for Don, as someone I consider a personal friend and as someone who gave everything he had in service to NAMB and its Members for more than a decade,” said NAMB President Fred Kreger. “The association cannot possibly thank Don and his family enough for everything they have given to advance the cause of mortgage professionals, consumers and small business. I continued on page 28

SINC CE 1987

• FANNIE, FRREDDIE, FHA, VA, JUMBBO • DIREC T CON NTAC T WITH A LOCAL AE • STABILIT A Y OFF AN FDIC-INSURED BANK B

• WAREHOUSE A LINES UP TO $100 MILLION HOW WE WORK TOGE THER

To find an account executive near you visit flagstar.c . om/ae

Eq u all Housing Lender

Member FDIC

Some restrictions may apply. All borrowers are subject to credit approval. Programs subject to change. The infor o mation provided d herein is for o dissemination to and for real esstate and financial business eentities only, and is not an advertisement for o the extension of credit to customers.

n National Mortgage Professional Magazine n MARCH 2017

1987

NationalMortgageProfessional.com

• TAIL A ORED FLEXIBILIT FLEXIBILIT Y—YOU DEC CIDE

Proactive Relationship Development vs. Reactive Recruiting By Steve Rennie

as this happened to you? You navigate through your day, and stumble on intelligence about a competitor that prompts you to reach out to a recruit and ask if they are open to talk to you about opportunities. Whether you “know” this person or not, the common response is no response at all or in better situations, “No, I’m happy.” Should you expect anything different? Our industry revolves around relationships. When you establish and maintain trusted relationships, your prospects for future growth will have greater success. The trap that most managers fall into is that they are predominantly reactive with their recruiting. Contact with a recruit is initiated by negative intel relative to their company. It prompts a call because there is a perception this could create immediate opportunity. This rarely works. So how do you differentiate yourself? To put yourself in a position where you receive calls with intelligence before anyone else due to the strength of your relationships? It starts with being proactive about your recruiting. Successful recruiting happens after trusted relationships are developed, not generally due to an event. Here are a few tips: l

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Initiate relationships: Create the discipline to call three new people every week. Some will be open and others will not. Consistent follow-up: Don’t let relationships fall into a black hole. Schedule monthly, bi-monthly or quarterly touch points on your calendar to follow up and talk or meet. Grow relationships: The follow-up calls and meetings should not solely focus on “Are you ready to work with me now?” Move the ball forward with topics like: l Industry changes l Strategy/Goals l Local market intelligence Position for “When” or “If:” The end result of the time you invest is to be there ‘when or if’ something changes– the opportunity to be one of the options evaluated. Make sure to get the “at bat”!

An important by-product of proactively developing and maintaining strong relationships is that when events take place with companies, you have created the environment to take advantage of opportunity. Its human nature for a recruit to defer to trusted existing relationships first when negative news breaks. It may not seem like the easy route, but it is the shortest distance between where you are and where you are trying to go in the development of a truly valuable recruiting pipeline.

Steve Rennie is chief sales officer with Model Match Inc., a technology platform and business plan used internally by sales leaders and executives at banks and mortgage companies to grow and retain production organically. He may be reached by e-mail at Steve.Rennie@ModelMatch.com.

SPONSORED EDITORIAL

new to market

continued from page 13

businesspeople. Updated questionnaires can quickly be incorporated into the servicer’s internal policies and procedures that guide staff with how and when to communicate with borrowers and proceed accordingly. “Now more than ever, servicers face an influx of new compliance rules and regulations from federal, state and GSE requirements that they must adhere to,” said Phil McCall, COO of ARMCO. “Due to an increasing spotlight placed on servicers, we enhanced the ease of configuration and selfsufficient change management capability to our platform, which now provides servicers with complete control to make changes in real-time to comply with the complexity of new rules.” A comprehensive suite of new USDA program specific questions were also added to the servicing questionnaires. There is a wide array of requirements covered; including, but not limited to escrow administration of the annual fee, construction processing/repair escrows, and default processing. Clients can easily review and analyze question content additions and/or changes, discuss implementation needs with QC and business staff, and maintain questionnaire versioning records that can be provided on demand in the event of an external regulatory audit. loanDepot Releases Its New Web-Based Digital Lending Platform

loanDepot has announced the launch of its proprietary digital lending platform (DLP), part of an $80 million investment in technology over the last 18 months and signaling the company’s commitment to developing the fintech ecosystem of the future. The first three proprietary technology solutions comprising loanDepot’s DLP, named “mello,” which comes from the Greek language and signifies the futurity or the dawn of modern lending, includes an intuitive Web-based consumer portal, a state-of-theart mobile point of sale system, and a fully digital mortgage loan application experience. These

solutions will be seamlessly integrated with the company’s Web-based loan origination system (LOS), accessible to consumers and lending professionals via collaborative dashboards from mobile or desktop devices. loanDepot’s mello exists within a larger fintech ecosystem boosted with the integration of digital marketing tools and by third-party data enrichment that ensure greater accuracy, speed and certainty throughout the origination experience. Reaffirming loanDepot’s commitment to innovation through technology, the company has committed to opening the new 65,000-square-foot mello tech campus in Irvine, Calif. “Technology advancements have revolutionized the way we work and live, yet the mortgage industry has largely remained devoid of modernization,” said loanDepot Chairman and CEO Anthony Hsieh. “As a profitable and growing lender, we’re in a unique position to invest aggressively in developing our own advanced technology. This philosophy of building our own technology positions us to evaluate market conditions as digital disruption continues to evolve the consumer experience. It gives us the optionality to define and redefine coverage points unknown to us today, and quickly design solutions for them. We are very committed to innovation through technology as a core basis of our business strategy and competitive advantage.” The mello platform is an endto-end technology solution designed to scale with the business as America’s lender expands its product categories outside of home lending, its network as a service provider of credit-related products, and its joint venture partnerships. MiMutual Mortgage Deploys LendingQB’s LOS

MiMutual Mortgage, the national retail channel for Michigan Mutual Inc., has implemented LendingQB’s loan origination continued on page 24

READY TO KICKST TA ART YOUR CAREER? GET UP TO $10,000 TO ST TA ART YOUR OWN MORTGAGE BUSINESS. KickStart Independent Mortgage Program provides up to $10,000 of start up funding for mortgage professionals who want to open their own broker shop. All you need to apply is a minimum of 3 years experience, a business plan, two letters of reference and the desire to be the best choice for your borrowers. Apply today at nambkickstart.com

NationalMortgageProfessional.com

K KickStart gave me the opportunity to leave a megabank and be my own boss. As a broker, I now have more control over the experience that I am able to provide to my clients. Applying for the grant was easy and it helped me to get my business up and running within just a few short months. hs.

A NAMB Program Founding Sponsor UWM

n National Mortgage Professional Magazine n MARCH 2017

Dan Tr Tran Trranscend Mortgage Inc. T

N A M B

P E R S P E C T I V E

NAMB President’s Message: March 2017

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Do you have your LISA? I have come to the halfway mark of my term as president of NAMB—The Association of Mortgage Professionals. We have, as an association and industry, been through an incredible turn and have come out and continue to thrive in any environment. We have proved this in the past, and we as mortgage originators, lenders, managers and affiliates, are proving it now. We all have pulled the rope together and are moving the needle forward with regulatory advocacy for not just for the membership of NAMB, but for our clients, whom we serve day to day. What separates us from everyone else in the industry? Our integrity, ethics and our duty to our clients and partners. This is why I am so happy to announce the re-launch of NAMB’s Lending Integrity Seal of Approval (LISA). Everyone who is serving the industry with the highest level of integrity and duty should be applying for and using their LISA every day. The LISA makes you stand out from the pack, showing the homebuying public that you do business to the utmost of ethical standards. Attaining the LISA shows your customers that you are a true mortgage professional who went above and beyond their call of duty to further educate and enhance their profession. You can read all about NAMB’s re-launch of the Lending Integrity Seal of Approval in Ginny Ferguson’s article found later in this month’s NAMB Perspective, along with a piece by John G. Stevens. We just recently wrapped our successful NAMB East event in Atlanta. I will provide more on that next issue, but let me take this opportunity to remind you about our next big event, NAMB’s Legislative & Regulatory Conference, set for Saturday-Tuesday, April 22-25 in Washington, D.C. at the J.W. Marriott, 1331 Pennsylvania Avenue NW. This event provides NAMB members with the unique opportunity to march on Capitol Hill and meet your elected officials to better educate them on the issues that impact your bottom line. Also included will be several speaker sessions to further educate you and prepare you for your visits on the Hill. Be part of change and register today. Complete details can be found at NAMB.org. Hope to see you all in D.C. in April. Thank you and Namaste’ Fred Kreger, CMC, 2016-2017 President NAMB—The Association of Mortgage Professionals Fred.Kreger@APMortgage.com • JOINNAMB.com

NAMB’s New Lending Integrity Seal of Approval By Ginny Ferguson, CMC

Do you have your Seal of Approval? In a short time, the Lending Integrity Seal of Approval you see above will be the symbol of the industry’s best mortgage originators, those who meet broad standards that take into account past behavior and reputation, continuing education, ethics training, and a pledge to adhere to NAMB’s Code of Ethics and Standards of Business Practices. For NAMB mortgage professionals and their mortgage loan

originator associates, earning the right to display the Lending Integrity Seal will require a rigorous validation process. For consumers and the public, seeing it will help quickly identify the mortgage professionals and their mortgage loan originator associates who meet the highest national standard for mortgage originators … the best of the best! There is good reason to believe the Seal will have a significant impact on this industry, on NAMB, and our members. Only NAMB members who are mortgage originators and meet specific requirements will be permitted to display the seal. NAMB Associate and affiliate members who do not originate loans will not be eligible to display the seal or asked to meet new requirements. Past turmoil in the mortgage marketplace, and the media spotlight that remains focused on a small number of unsavory characters, have all contributed to hurt the public’s perception of our profession. Although the entire industry has been dealt a blow, mortgage brokerage professionals have taken the hardest hit, with massive amounts of regulations, restrictions and disclosures curtailing our efforts to best serve our customers with their lending needs. In an interview for a 2008 article, NAMB President George Hanzimanolis at the time said, “The industry looks to NAMB for leadership in good times and in bad. It is now clear we need to raise the bar, and make it more difficult for bad actors to prosper in the mortgage business. In doing so, we will slowly renew confidence in the housing industry and in the reputation of the NAMB mortgage originators who meet higher standards.” Years in the making NAMB’s Communications Committee spent more than two years exploring ways to distinguish NAMB members from others in the industry. The initiative was led from 2005-2007 by Ginny Ferguson, CMC, a past member of the NAMB Board of Directors; and by NAMB Past President, Jim Pair, CMC. Throughout the development process, which took place under three past NAMB Presidents, including Jim Nabors, CMC (2005/2006); Harry Dinham, CMC (2006/2007); and George Hanzimanolis, CRMS (2007/2008); the Committee had input, direction and unwavering support from the NAMB Board of Directors and Delegate Council. The significant research and development that formed the foundation of the program and helped define its parameters was performed by the highly regarded, prize-winning PR and advertising agency, The Richards Group, located in Dallas, Texas. The Richards Group is the largest privately held PR company in the United States. The initial research conducted with real estate agents and homebuyers in 2005 and 2006 foretold some of the perception problems we still see today. However, when we introduced the idea of a Seal of Approval and the requirements to attain the Seal, real estate agents gave it an approval rating of nearly 80 percent, and homeowners were even more receptive with over 90 percent approval. Equally important, when we asked these groups what they thought the benefits were of working with someone who met the requirements and earned this seal, they said such mortgage professionals were likely to have more credibility and higher standards; they’d be more likely to be honest and ethical, and more likely to be someone they would recommend. Armed with these findings, development of the seal and the requirements for membership fell right into place. It was clear the public was looking to NAMB to help remove bad actors from the industry, and help them identify reputable mortgage professionals in their communities. Like NAMB, now years later, the National Association of Realtors (NAR) has found it needed to develop a new endorsement, much like our Lending Integrity Seal of Approval, to help consumers identify Realtors not just by the “R” symbol, but to identify those who are pledging their dedication to be honest and ethical in their business dealings. This new Realtor endorsement being so similar in purpose to our Lending Integrity Seal of Approval provides a huge marketing advantage to our brokers and originators who are approved to use the Seal when marketing to the Realtors in their marketplace. Do you

N A M B

P E R S P E C T I V E

have your Lending Integrity Seal of Approval? Don’t miss this opportunity to put yourself out in front of the other originators in your area! Getting the Seal The first step in qualifying to display the seal is to be a NAMB mortgage professional or mortgage loan originator associate working in the mortgage industry with a valid NMLS license or registration number. If your state requires you to be licensed in order to conduct business, then you must hold a current state license. You must complete eight hours of continuing education per year or the equivalent and two hours of ethics training every two years. Integrity is our pledge and this is our Seal One key aspect to the success of this program is to educate the public about the Lending Integrity Seal and what it means. Although the design is straightforward and easily understood, you will need to promote it in your area for it to have the greatest impact. To help in this effort, NAMB has developed a host of materials, including print and radio ads, a LendingIntegrity.org Web site, business card art, press releases, customer letters, newsletter articles and more, which can be customized and used freely by members who qualify to use the Seal. The LendingIntegrity.org Web site is a good place to start getting familiar with the new Seal of Approval, and what it will mean to your customers and your business. Take a moment to watch the Lending Integrity video on the home page. Show it to your colleagues and customers. Read the list of requirements, and download any forms you’ll need to get started. It’s a new day at NAMB, a new day for all mortgage originators who not only want to distance themselves from stigma of the bad actors, but also distinguish themselves in the eyes of the realtors and the public, and have something inspiring to tell their customers. This is your seal. Now is the time. For more information contact your state association or NAMB at LendingIntegrity@NAMB.org.

the ability to have our voices heard and enact change. I strongly urge you to join us in Washington, D.C. this year. It will be a trip of a lifetime! One benefit of living in our country is that we have freedom of speech. As citizens, we are able to let our legislators know what is on our mind. One of the most important parts of a legislator’s job is to listen to their constituents. Your voice counts and you can make a difference if a bill is passed into law or not. Knowing this, I was very apprehensive about making my way to Washington, D.C. for my first Legislative Conference. I remember we were here to talk to the legislators about how passing Dodd-Frank Act would affect the consumer and small business owners. The biggest concern at the time was exactly how the bill would be interpreted. I remember feeling overwhelmed, but once I saw the passion of the amazing people who were attending the Conference, I started to think we could make a difference. The day we hit The Hill was cold, with snow on the ground, but the only thought going through my mind was how empowering it was to walk the halls of Congress. I wondered about who walked the halls before me. It made me want to come back again and again. While we as an industry have faced much change, we have also had many wins. Legislators have taken the time to listen to our concerns and have acted upon them to create changes. These changes have made the industry better for our customers. Let’s count some of our wins: 1.

Steps to Earn the Lending Integrity Seal l Valid State License/Registration l Valid NMLS License or Registration l Eight Hours Continuing Education Per Year or Equivalent l Two Hours of Ethics Training Every Two Years l Pledge to Abide by the NAMB Code of Ethics and Standards of Best Business Practices *For NAMB Mortgage Brokers and Loan Officers Only

Michelle Velez, CMC of Supreme Lending in San Mateo, Calif. is a member of the NAMB board of directors and Government Affairs Committee Chair. She may be reached by phone at (650) 409-5347 or e-mail Michelle.Velez@SupremeLending.com.

NAMB Government Affairs Update Change is in the Air

By Michelle Velez, CMC

Change is in the air. Many times, people have a hard time with change. They don’t like it. As a glass always full person, I try to look at change as a positive thing. The new administration in Washington is talking about making major changes. We hear rumblings of this every day. For those of you who have been complaining that we need to make change now is the time to enact positive change for our industry. This month, NAMB will be travelling to Washington, D.C. (April 23April 25) for our annual Legislative & Regulatory Conference. We have

NAMB Education Corner: Time Management for Success By Bob Sweeney, CRMS I recently conducted a live two-day sales and training session with my 12 mortgage loan originators. Among the many topics covered was Time Management Scheduling. Time Management can be a corporate mandate with a structured format or it could be a customized evolving format. I personally prefer the latter, since I

n National Mortgage Professional Magazine n MARCH 2017

Ginny Ferguson, CMC of Heritage Valley Mortgage Inc. in Pleasanton, Calif. may be reached by phone at (925) 469-0100, ext. 21 or e-mail hvm1@msn.com.

For the past eight years, I have been extremely vocal and active in our trade association. I have a strong passion for housing reform as it affects our customers. The most important thing that I have learned along the way is this: You want to make sure you have a seat at the table or you will find yourself on the menu. Loan originators have found themselves on menu in the past. Use your voice and when the next “Call to Action” comes out, please respond. You too can make a difference!

NationalMortgageProfessional.com

Loan officer compensation: This was one of the first regulations that were put in place by the Consumer Finance Protection Bureau (CFPB). Most loan originators do not realize what the compensation rule looked like before it was implemented. NAMB worked hard with the regulators to amend the rule to what we see today. NAMB was successful in eliminating the double-counting of loan officer compensation from the three percent points and fees cap of the Ability-to-Repay Rule within a Qualified Mortgage. Flood insurance was a big problem for many parts of the country. NAMB was successful in advocating the passage of the BiggertWaters Flood Insurance Reform Act. Although HR 2121–The Transitional Licensing bill passed the house last year, NAMB was successful in stopping the bill from passing the Senate. The Senate Bill was a watered down version of the house bill.

N A M B

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

P E R S P E C T I V E

have not have had very good results or good experience with the mandated version. The reason I personally prefer the customized evolving format is that it is individualized. There are definitely common characteristics in every individualized Time Management Schedule, but it must suit the individual. In my particular situation, as mortgage sales manager for Teachers Credit Union, I have to take into account that our originators cover multiple branches, which in some cases; the branches are over an hour drive apart. We are very fortunate to have over 95 percent of our mortgage loans leads from our members. When a loan is referred by a branch, we require that the originator get back to the member within a few hours. But in the case of one of our originators, she covers eight different branches and it almost impossible for her to return member calls within a few hours. Her Time Management Schedule is structured to return phone calls within 24 hours. What are the common characteristics of most Time Management Daily/Weekly/Monthly Schedules? Here is a list that may be helpful: l Create tasks or a “To Do List” every day l Prioritize each task on your “To Do List” every day l Take a few minutes before each task to determine desired results l Do not put things off l Schedule time for interruptions every day l Practice not answering your phone l Put up a “Do Not Disturb” sign when you absolutely need to get a task done l “Procrastinate” on returning e-mails. Don’t get sucked into “back-and forth” of an immediate conversation l Block out distractions like Facebook and social media sites daily l Allow time for “Prospecting” weekly l Allow time for “Networking” weekly l Make list of “Successes” daily/weekly/monthly No matter how productive we become, we are never going to permanently rid ourselves of low value work. By following these characteristics, we can at least handle them more efficiently and leave more task time in our days/weeks/months for the projects that are truly meaningful. We welcome any input from all mortgage professionals. If you would be interested in joining the Education Committee and become part of our future success in the education of our independent mortgage companies and mortgage loan originators, please feel free to contact me. If you are not an NAMB member, now is a great time to become a member. Go to your state association Web site or NAMB.org and join as a professional member. Bob Sweeney, CRMS is the mortgage sales manager for Teachers Credit Union, director for NAMB–The Association of Mortgage Professionals and serves as NAMB Education Committee chairman. He can be reached by phone at (317) 625-3287 or e-mail at RSweeney@tcunet.com.

Success Is Not Easy, Nor Is It Certain By John G. Stevens, CRMS Seth Godin, an American author, once said that, “Most people are searching for a path to success that is both easy and certain. Most paths are neither.” In today’s work environment, people are increasingly steering towards the idea that the world owes them a living. They want to do less and make more. They have mistaken the popular saying of “Work smarter not harder” and changed it into “Work not at all and

make more money.” Where have the professionals gone? Are they still there? In regard to our profession, is there still a desire amongst mortgage originators to do what is best for their consumer? The answer is a resounding “YES!” You need look no farther than those who are members of NAMB, who hold their Lending Integrity Seal of Approval. A quick trip on the Internet to the site LendingIntegrity.org and you can see that “The Lending Integrity Seal of Approval helps homebuyers find hardworking, ethical mortgage professionals.” To become a Lending Integrity Seal of Approval holder, the individual needs to meet a very strict and defined set of requirements. They need to: l l

Be an NAMB member Meet the requirements of the SAFE Act (Pass a national criminal background check, attend eight hours or equivalent of professional development education each year, and attend two hours or equivalent of ethics training every other year or each license renewal cycle) Provide professional references

The process is the answer to the question that many consumers have about finding someone who cares about the loan process, cares about them, and is a mortgage professional. I want to extend a challenge to everyone to go to LendingIntegrity.org and get their Lending Integrity Seal of Approval. You will stand out from the crowd, declaring to the world that you are a mortgage professional. The path is not easy or certain, but once you arrive at your designation you will realize that all of the hard work and determination has paid off. John G. Stevens, CRMS of RPM Mortgage in Highland, Utah is president-elect of NAMB—The Association of Mortgage Professionals. He may be reached by phone at (801) 427-7111 or e-mail JohnGStevens@gmail.com.

NAMB’s KickStart Program By Rocke Andrews, CMC, CRMS

The NAMB KickStart Committee has been very busy the last few months. We have received many applications for assistance in opening a new broker shop. As of this writing we have awarded 20 candidates $10,000 each towards the opening of their broker companies. At this rate, we will soon exhaust the initial funding of United Wholesale Mortgage (UWM). NAMB and the KickStart Committee are reaching out to other industry partners to join in the effort to Chris Freck of EstaR Mortgage in Alameda, grow our channel. KickStart funds are available Calif. is congratulated by Dale DiGennaro of the California Association of Mortgage to licensed loan originators that Professionals on becoming a recipient of have also received their NMLS an NAMB KickStart grant license for their mortgage broker company. We require three years industry experience, a detailed business plan, and a demonstrated need for the funds. We have been overwhelmed with

NAMB PERSPECTIVE the interest and the gratitude of those awarded so far. The applicants have ranged across the country with varied industry backgrounds. NAMB and the NAMB KickStart Committee are dedicated to helping these and all new loan originators and brokers to succeed by assisting them in doing business in a compliant and professional manner to restore the reputation of the small business originator and bring access to the varied mortgage market to our underserved communities. We are looking to set up some kind of resource to share ideas among our members with regard to running a small business, as well as some Webinars papers to help our members. If you have any thoughts or ideas please send them to me by e-mail at RAndrews@LendingArizona.net.

NAMB KickStart Approved Funding List Gerald Bliss

Bliss Mortgage LLC

Tampa, Fla.

Brian Curl

Wholesale Mortgage Source

Louisville, Ky.

Jacquelin Dunlap

Next Generation Home Loans

Littleton, Colo.

Chris Freck

EstaR Mortgage

Alameda, Calif.

Josh Hefty

Cahaba Mortgage

Hoover, Ala.

Brian Lawrence

Lawrence Funding

Carlsbad, Calif.

Christopher Lilly

Seafarer Home Corporation

Ocean Pines, Md.

Dorelle Peters

Metro Mortgage Group

Denver, Colo.

John Rhode

Swish Financial Group

Oakbrook, Ill.

Brian Robinett

Tier 1 Mortgage

Thousand Oaks, Calif.

Donald Sitterson

-----

Jacksonville, Fla.

Dan Tran

Transcend Mortgage

Malden, Mass.

Lisa Warren

LW Financial Services Inc.

Godley, Texas

Robin Gilmore

Americas Local Lender

Huntington Beach, Calif.

Charles Herman Jr.

Excel Mortgage Lending

Peoria, Ariz.

Pending Licensing

On page 21 of the February 2017 issue of National Mortgage Professional Magazine, the incorrect tagline for NAMB Education Committee Chairman Bob Sweeney, CRMS ran. Mr. Sweeney’s correct information is as follows: Bob Sweeney, CRMS is the mortgage sales manager for Teachers Credit Union, director for NAMB–The Association of Mortgage Professionals and serves as NAMB Education Committee chairman. He can be reached by phone at (317) 625-3287 or email at RSweeney@tcunet.com.

n National Mortgage Professional Magazine n MARCH 2017

Correction …

NationalMortgageProfessional.com

Rocke Andrews, CMC, CRMS is immediate past president of NAMB—The Association of Mortgage Professionals. He may be reached by e-mail at RAndrews@LendingArizona.net.

Recent Regulatory Reform Executive Order and Legislation: How Might They Affect the CFPB? By Richard Horn

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

ecent executive orders and proposed legislation regarding regulatory reform have caused many in the industry to question whether they can relax their regulatory compliance efforts. But the industry should remain focused on compliance. On Feb. 24, 2017, President Trump issued an Executive Order titled, “Enforcing the Regulatory Reform Agenda.” The order requires agencies to begin a process of regulatory reform, following up on recent statements by President Trump about plans to reduce regulations by at least 75 percent. The Order requires each agency to designate an agency official to be a “Regulatory Reform Officer,” who will oversee regulatory reform initiatives, including President Trump’s recent Executive Order requiring agencies to repeal two rules for everyone it promulgates. In addition, agencies will be required to create a Regulatory Reform Task Force to recommend rules for repeal, specifically identifying rules that eliminate jobs or inhibit job creation, among other things. But it does not appear that this order will apply to the CFPB. While the order does not specifically address independent agencies like the CFPB, its requirements are based on prior Executive Orders that do not apply to independent agencies. But we will have to wait and see how the Office of Management and Budget (OMB) implements the order to know for sure. Congress has also been busy with legislation that could affect the CFPB and its rules. Sen. Ted Cruz also recently proposed a bill that would repeal Title X of the Dodd-Frank Act, which created the CFPB, and similar legislation was introduced in the House. This would repeal the CFPB, but it would also have other important consequences. Title X contains the statutory mandate for the TRID mortgage disclosures. And it contains the statutory amendments to HMDA that authorize the additional data points in the CFPB’s HMDA rule. These bills would also repeal these statutory provisions. In addition, the Mortgage Choice Act was reintroduced in this session of Congress, which would exclude affiliated title charges from the three percent points and fees cap under the CFPB’s QM and HOEPA rules. Further, there is a proposal in Congress to disapprove the CFPB’s Prepaid Account final rule issued in 2016 under the Congressional Review Act, which would prevent that rule from becoming effective and the CFPB from issuing a similar rule in the future. This signals that future mortgage rules by the CFPB could also be in Congress’ crosshairs. These potential changes to the CFPB and its rule are significant. But until there are definite changes to the CFPB’s rules, it is important to comply with them to avoid enforcement actions or borrower lawsuits.

Richard Horn of Richard Legal PLLC, was formerly with the CFPB, where he served as senior counsel and special adviser and led the final TRID rule and the design and consumer testing of the TRID disclosures. He may be reached by e-mail at Rich@RichHornLegal.com.

SPONSORED EDITORIAL

new to market

continued from page 18

system (LOS) to streamline its mortgage lending process and enhance the overall customer and employee experience. “Our selection of LendingQB demonstrates our commitment to foster collaboration and improve speed and efficiency throughout the loan process,” said Daniel Jacobs, executive vice president of retail lending at MiMutual Mortgage. “LendingQB enhances our ability to create a Raving Fans’ experience for our borrowers, referral sources and employees.” LendingQB’s LOS is Web-based and an end-to-end application using best-of-breed partnerships with the nation’s leading providers. With the LOS’ streamlined loan process, MiMutual’s turn time is two weeks faster than the industry average and the company has experienced improved underwriter productivity by 18 percent. The mobility of LendingQB’s technology empowers MiMutual’s originators to more quickly and efficiently deliver a superior experience to borrowers. “This is one of the best loan origination systems on the market today,” said Mark Toth, a MiMutual Mortgage branch manager in New Jersey. Toth, who has been in the mortgage industry for nearly 16 years, said LendingQB allows his four loan officers to complete the origination process and issue disclosures in about 10 minutes. He attributes the speed to the intuitive interface and lack of system latency, which he said saves a great deal of time. “For lenders to garner the most ROI from a LOS, the provider must support them from implementation and beyond, providing tools and suggesting best practices to develop optimal workflow,” said Tim Nguyen, president of LendingQB. “MiMutual is dedicated to superior customer service especially as the company continues to expand its geographic footprint. We are looking forward to helping this forward-thinking lender achieve that goal with our advanced technology and extensive support team.” Quandis Integrates its Court Case Search Solution with KMCIS’ CaseAware

Quandis Inc. has announced that it has seamlessly integrated its court case search solution, Quandis Court Connect (QCC), with KMC Information Systems

LC’s (KMCIS) CaseAware case management system (CMS) for law firms. QCC is a data service that automates the monitoring of state courts for desired case activity and immediately notifies users when any activity occurs. Often, users at law firms manually visit court Web sites on a one by one basis in order to locate cases of interest, which is onerous, labor intensive and prone to errors and missed cases. The new integration allows CaseAware users to initiate searches for any type of court case across the country directly from within CaseAware. Detailed case information is located and seamlessly populated back into CaseAware. This eliminates manual intervention, data reentry, saves time and delivers newfound efficiencies. “There is a rampant problem whereby law firms regularly perform manual searches on court Web sites, which accompanies many issues, inefficiencies and risks,” said Scott Stoddard, CEO of Quandis. “QCC completely eliminates this problem and now that our service is integrated with CaseAware, the processes and workflows are fully streamlined for law firms.” With the click of a button, CaseAware users can obtain any and all cases for parties on a statewide basis in just minutes. The law firm’s process remains the same, allowing CaseAware users to sail effortlessly through their normal workflow. Detailed reporting is provided that can be accessed and a PDF copy of the court’s Web site docket page is stored for audit purposes. Altisource Launches noteXchange Mortgage Trading Platform

Altisource Portfolio Solutions has announced the launch of noteXchange, a proprietary mortgage trading platform that can help deliver greater efficiency, security and other advantages for mortgage bankers and loan investors. The noteXchange platform helps address the growing need for a more uniform, compliant, secure and efficient technology solution in the whole loan (mortgage) trading market. continued on page 26

NAMB+ is an independent, wholly-owned, for-profit marketing subsidiary of NAMB, The Association of Mortgage Professionals. Dear Mortgage Professional, This month’s NMP Magazine is all about marketing, and so is NAMB+! Did you know that we have fantastic NAMB+ Endorsed Providers that can help you instantly improve your marketing and connectivity with your customers and prospects? eEndorsements makes it easy to capture customer reviews and publish testimonials automatically on social media, and even invite your clients to share reviews on sites like Yelp and Zillow. eEndorsements offers a 34% discount to NAMB Members, with subscriptions at just $19/month. Simple Nexus offers a mobile app designed to drive referrals, and NAMB Members enjoy a 25% discount off regular prices. Social5 provides special NAMB Member pricing on social and mobile marketing tools that get your business noticed online, with a team of professional graphic

artists and dedicated writers supplying you with weekly Facebook and Twitter posts, monthly blogs, monthly emails to your clients, and more. Finally, SYNCRO offers a real-time chat tool for your website using the same SMS you use on your mobile phone. You can now engage your website leads the same way you interact with your friends, and NAMB Members receive a 10% discount off regular prices for monthly unlimited SYNCRO Web Chat packages. Visit NAMBPlus.com for additional details about these and all our other tremendous NAMB+ Endorsed Providers. Sincerely,

Nathan Pierce, CRMS, CMP, President NAMB+, Inc. l npierce@advfund.com

See below for a complete listing of the current NAMB+ Endorsed Providers and visit NAMBPlus.com for more information. Full-service mortgage credit reporting company serving the nation’s financial community. Avantus provides custom mortgage credit reports, fraud and compliance solutions, and innovative lead generation products available exclusively to Avantus customers. Learn more at Avantus.com. NAMB members receive a discount off Brokers Compliance Group compliance support programs.

InfoSight, Inc. offers proven and affordable cyber security, risk management, IT Infrastructure and regulatory compliance solutions. Visit www.infosightinc.com or contact us at 305-828-1003 / 877-577-9703. MassMutual Disability Income Through an arrangement with Massachusetts Mutual Life Insurance Company (MassMutual), NAMB members have an opportunity to apply for individual disability income insurance (DI) at discounted rates. Learn more by calling Andrew Berman at 516-652-1819

NAMB members receive a 15% discount on all Custom Canvas Prints products and services!

MortgageHippo Swift allows loan originators of all sizes to deliver a modern borrowing experience, significantly improve borrower conversions, reduce origination costs and integrate with other innovative technologies in the mortgage industry. NAMB members will receive a 25% discount. Please visit www.mortgagehippo.com/swift/.

eEndorsements promotes your success by making it easy to capture customer reviews, control your content, and publish your testimonials where they matter to drive new business. Automatically share your reviews on Facebook, Twitter and Linkedin. Easily invite your clients to share reviews to sites like Yelp and Zillow. eEndorsements will also hosts a review profile page indexed and found in Google Search. eEndorsements offers a 34% discount to NAMB Members. For more info please visit http://eendorsements.com/namb.

NAMB Members will receive a Twenty-Five Percent (25%) discount off of the regular price with their NAMB Membership. Simplii VOIP business phone solutions include all the features and functionality of a high end business phone system without the high costs. We offer all NAMB members a 10% discount off their phone services. For more information please e-mail stevew@simplii.net

The Bond Exchange is 25 a national surety agency specializing in providing mortgage license bonds to thousands of mortgage professionals across the country. USA Business Lending is the nation’s premier commercial brokerage firm representing over 3500 lenders.

NAMBPLUS Login Instructions Username = Member Number Password = First initial of your ﬁrst name capitalized and your last name with the ﬁrst letter of the last name capitalized (example = JStevens)

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

n National Mortgage Professional Magazine n MARCH 2017

MBS Highway provides daily guidance and insights from Mortgage Market expert Barry Habib who predicted the bottom of the Housing Market. Exclusive NAMB Members offer to try MBS Highway FREE for 30 days. Visit MBSHighway.com/registration/namb-plus-registration

SYNCRO connects mobile salespeople to their office website leads. NAMB Members receive a 10% discount off regular prices for monthly unlimited SYNCRO Web Chat packages.

NationalMortgageProfessional.com

CalSurance® offers competitively priced Professional Liability Insurance for NAMB members. Multiple coverage options and an easy application process are available. Visit www.calsurance.com/namb for program details and to apply.

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

Mortgage Fraud Is on the Rise Again By Andrew Liput

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

irst American Data Solutions recently released a March report indicating that mortgage fraud has increased almost six percent in the first quarter. The rise in fraud is tied to the recent shift from refinance business to primarily purchase money mortgages. As everyone knows, the purchase market is much riskier than rate and term refinance transactions. Whenever the market adjusts, rates increase, and home sales spike, then fraud rears its ugly head. What type of fraud are First American and others seeing? It is unfortunately the same kind of fraud that has plagued the mortgage industry for years. These schemes continue seemingly impervious to the adoption of front-end borrower fraud deterrence and detection tools. It seems as long as there is money to be made, criminal schemers, working with or fooling loan originators, have an unending stream of weapons available to cause havoc within a mortgage lender’s operations. Fraud generally takes two forms: Fraud for housing and fraud for profit. Fraud for housing involves efforts by an applicant with or without loan originator assistance, to fudge income, asset and employment numbers to qualify for a home purchase they otherwise would not be able to afford. The applicant intends to occupy the premises and pay the mortgage. Fraud for profit is far more insidious and usually is coordinated in an organized conspiracy involving multiple parties that may include a seller, buyer, settlement agent, attorney, real estate agent, appraiser and others. Motives are typically foreclosure avoidance and outright intent to steal the mortgage proceeds. According to the FBI, the most prevalent schemes they see, which have not changed in a decade, include: Loan origination fraud, foreclosure rescue fraud, equity skimming, short sale fraud, illegal flipping, builder bailouts and straw buyers. At the lender level, these schemes are fueled by income and employment misrepresentation, occupancy fraud, undisclosed transactions, undisclosed third parties, appraisal inflation, title policy substitution (fraudulent removal of actual liens) and wire fraud. The key for lenders? Training, diligence, full-time quality control staff, pre and postclosing audits, and well documented accountability for aiding, participating or willfully ignoring fraud at any stage of the mortgage process. Mortgage fraud is not a victimless crime. It causes financial harm for lenders through non-saleable loans, loan repurchases, first and early payment defaults, and foreclosure costs. For honest consumers, it can mean delays, transactions unwound, clouds on title, as well as legal fees and expenses. As costs increase for a lender, consumers may also feel those through higher rates, higher loan costs and more stringent underwriting guidelines. At Secure Insight we have a motto, “Trust, but Verify.” Feel free to use it!

Andrew Liput is CEO of Secure Insight, a risk analytics firm offering vendor management services addressing settlement agent risk. He can be reached by e-mail at ALiput@SecureSettlements.com.

SPONSORED EDITORIAL

new to market

continued from page 24

Designed to replace today’s manual and often risky process of transacting through spreadsheets and e-mail, the platform centralizes trading activity between buyers and sellers and helps safeguard the transmission of data. noteXchange enables sellers to expedite trading by mapping loans to uniform templates and easily managing the distribution to multiple buyers in one place. This provides loan investors access to greater loan volume and variety, creating a centralized platform where all users can benefit. “We are excited to announce noteXchange as another innovative and proprietary technology to directly benefit our growing network of members, vendors and investors,” said Bryan Binder, co-lead, Altisource Origination Solutions and chief executive officer of Lenders One. “We worked closely with various buyers and sellers during the development process to create a product that would make the loan trading process more simple, transparent and secure. The beta phase consisted of more than 40 participants whose direct feedback helped shape the technology we are offering today. This product is another example of how Altisource continues to use technology and innovation to help shape the mortgage market, as well as help Lenders One members increase their profitability.” noteXchange can also facilitate faster trading through a relationship with Thomson Reuters, which provides real-time pricing data to help inform bids made on the platform. The data provided by Thomson Reuters gives buyers the ability to anchor bids to market instruments with 20-second updates so users can continue trading through highly volatile markets and minimize hedging risk. “This is a further demonstration of our commitment to deliver new and innovative solutions that empower mortgage professionals with the knowledge they need to evaluate risks and identify opportunities,” said Adam Quinones, global head of mortgages and ABS, Thomson Reuters, Financial and Risk. “By collaborating with Altisource, we intend to deliver a unique and efficient solution to help our clients drive revenue.”

Simplifile Integrates With Ellie Mae’s Encompass

Simplifile has announced that its Collaboration and Post Closing services will be available through Ellie Mae’s Encompass all-in-one mortgage management solution, allowing Encompass users to collaborate with settlement agents via Simplifile, and work together seamlessly on documents and disclosure data from pre-closing to post closing. Simplifile Collaboration enables lenders to work directly with their settlement agents to share, receive, and validate disclosure data, documents, and transaction details. Simplifile Post Closing provides lenders with real-time updates on the recording status of documents, then closes the loop on the entire mortgage transaction by delivering the final title policy and fee data electronically. Both services automatically record any loan changes, updates, or deficiencies to generate an audit-ready compliance trail. Ellie Mae is a provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s Encompass mortgage management solution provides one system of record that enables banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency. “Simplifile is delighted to partner with Ellie Mae,” said Simplifile President Paul Clifford. “With this secure, seamless integration, Encompass users gain visibility into settlement agent processes and will experience faster, more efficient mortgage closings. We look forward to a long, successful relationship with Ellie Mae.” Your turn National Mortgage Professional Magazine invites you to submit any information promoting new “niche” loan programs, new products or any other announcement related to the introduction of a new program, to the attention of: New to Market column Phone #: (516) 409-5555 E-mail: newsroom@nmpmediacorp.com Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

&#0- / / 2- 2" )$1$ &+ -32110/. - 2/ 1"+10- %0 $+2 2" )$1- /)%$

! *) *)# +&%

)

) )#&

)

#&+) ) ++

)

+#) )+*(

)

+*( ) )#* +

)

#* #) )(* +

)

(* #) ) *( #

)

*( () )&* +

)

&* + ) ) *##

)

*## ) )+#*

)

+#* ) )+ *+ (

)

+ *+ ) )# **

)

# ** & ) ) * +

)

* #) ) (*

NationalMortgageProfessional.com

O Ourr Purchase tr t ansactions re emain at hou urs â&#x20AC;&#x201D; y Underw g for ALL P Priorit writing LP Purchase transa actions: Freedom First, HomeReady TM

orr no FICOs at all a Purchase pricin ng specials available a

Get started to oday. Calll toll-free: # Visit: www.FreedomWholesalle.com/Purchase

#""!

grrowth in Pu urchase tran nsactions

Inside Morrtgage tg Fi Finance*)('+&%)$))#)"! ) ! ) ) ) ! ) %)$))( )# + *) )! )# +&) %

32110/.- ,/2+*)*1- (/2'/2)+&/%- &$- )- ./2+*)*1- #1%012- #&"1%$10- &%- )##- ! - $+)+1$ - , - - - (/2'/2)+1- / &"1- #/")+10- )+- - #1)$)%+- ) )##1 - 1% 1 ww w..freedommorttg gage.com/state-liicensing for our complete list of state licenses. This &+1- -,+- ) 21# - - ! -

- -Please visit our website at ww ended to imply that any of our loan n products willl be offered by or in conjunction with communic cation is sent only by Freedom Mo ortgage Corporation and is not inte ed for use by mortgage brokers and otherr industry HUD, FHA, VA, the U.S. government or any fe ederal, state or locall governmenta all body. This information is intende ertisement to or solicitation of a co onsumer. For additionall information n about Freedom professionals. This is a business-to-business communication and is not an adve tion, please visit the NMLS Consumer Access page at: nmlssconsumeraccess. Mortgage Corporation ess orrg g. Equall Housin ng Lender. "! ! ! ! !

! !

n National Mortgage Professional Magazine n MARCH 2017

Local expertise pe se e â&#x20AC;&#x201D; we work wh here you work

Have You Seen a Dip in Your Marketing Results? Here are some tips to keep your pipeline full regardless of market conditions Follow the trends t’s never a good idea to try and develop your own marketing campaign until you’ve found multiple types of marketing that work for you. If the big word in the industry is REFINANCE, don’t try to go against the grain and market for something that isn’t working. Find a marketing means that works for you and your budget and go to work. When you go to trade shows or talk with colleagues about how great their own campaigns are working GO AFTER THE SAME THING! The marketing is working because the market is accepting it. The market will always show you how to best offer your products.

Test, measure, test again Many people start a new marketing campaign with a new marketing firm and think that they should be setting records right away. This couldn’t be further from the truth. In fact, in most cases, the first campaign is only the beginning. Campaign three or four is where they really start paying off.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Tips for 2017 l Direct mail responses are up: If you haven’t tried direct mail in a while, it might be time to give it a try again. VA responses are down so try to mix your VA campaign with other loan types as well. It’ll keep your response rates up while keeping an eye on the VA market so you’ll know exactly when responses come back. l Internet leads work if you work them: Don’t expect to make an easy buck … those days are over. If you must use them, make sure you get exclusive internet leads, and not those “sold 10 times.” Unless you already know that type of leads work for you. When it comes to Internet leads, cheaper is not always better.

nmp news flash

continued from page 16

am confident that Don will remain an active member of the association and that we will continue to rely on his considerable knowledge and experience as a highly respected past president of NAMB.” Frommeyer joined NAMB’s board of directors in 2007, and has held the positions of secretary, treasurer, vice president, president-elect and president from 2011-2014. His leadership, along with that of his fellow officers and directors at the time, guided NAMB through the mortgage crisis, relaunched the NAMB National Conference, and helped position NAMB for the resurgence the association has experienced in recent years. Frommeyer was named CEO of NAMB in 2014, and played a key role in improving NAMB’s connection with its members, organizing a biannual Mortgage Summit with NAMB’s wholesale lending partners, and championing the NAMB KickStart initiative, designed to help spur the growth of new independent mortgage broker companies nationwide.

providing companies with dedicated support and comprehensive capital raising capabilities as they take on the next chapter of their journey.” Many of Waterstone Mortgage’s top producing loan originators, known as the President’s Club members, were in attendance at the event. The opportunity to participate in the Nasdaq opening bell ceremony was unveiled to President’s Club members at the company’s 2017 Annual Sales Conference, which was held in Scottsdale, Ariz. “The Waterstone Mortgage executive team wanted to create a very memorable experience for our President’s Club members, and this seemed like the perfect way to do so,” said Waterstone Mortgage President and CEO Eric Egenhoefer. “Considering their dedication and hard work over the past year, we were eager to share this experience with our top producers– especially in light of our alltime company record of $2.5 billion in loan originations for 2016.”

Waterstone Mortgage Top Producers Ring Opening Nasdaq Bell

eValuation ZONE Certified by the Women’s Business Enterprise National Council

l Live transfers are a thing of the past: With as many as 90 percent of the population on the DNC, telemarketing just isn’t what it used to be. l New data files are available specifically for the mortgage industry: You don’t have to get set up with credit bureaus to get qualified data anymore. Mail houses won’t have it, but good marketing firms will. l Trigger leads are still being sold by the credit bureaus: Stay aware of what methods your competitors are using. Whether you’re using them or not it’s a reality that must be dealt with. Last, but not least, RIDE THE WAVE! The mortgage industry is back and it’s time you came back with it. If you’re not having the biggest year of your career, you should look at the marketing that you’re doing and how you can make it perform better. TagQuest Inc. is a full-service marketing firm specializing in marketing for the mortgage industry. Call (888) 717-8980 or visit www.tagquest.com.

IMAGINE • INNOVATE • SUCCEED SPONSORED EDITORIAL

Members of the Waterstone Mortgage Corporation executive team, as well as 40 of the company’s top mortgage loan originators, recently visited New York City to participate in the Market Bell Opening Ceremony at Nasdaq. Waterstone Mortgage rang the opening bell on behalf of Waterstone Financial Inc.–the savings and loan holding company for its parent company, WaterStone Bank. “We are proud to be the listing partner of Waterstone Financial, supporting their continued success for over a decade,” said Joe Brantuk, vice president, Listing Services, Nasdaq. “With a 93 percent win-rate in the regional banking sector for the past two years, we see great opportunities in the space and look forward to

eValuation ZONE Inc., a business specializing in real estate appraisal management services, has announced its national certification as a Women’s Business Enterprise by the Women’s Business Development Center-Chicago, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC). “We are thrilled to receive WBE Certification and honored to be a part of this wonderful community of women-owned business. The Certification brings many great opportunities for our company, opening doors to compete in both public and private sector projects,” said Inesa Tomaszewski, president of eValuation ZONE. “We are very excited to offer our Real Estate Appraisal Management Services to clients where supplier diversity is a priority.”

WBENC’s national standard of certification implemented by the Women’s Business Development Center-Chicago is a meticulous process including an in-depth review of the business and site inspection. The certification process is designed to confirm the business is at least 51 percent owned, operated and controlled by a woman or women. By including women-owned businesses among their suppliers, corporations and government agencies demonstrate their commitment to fostering diversity and the continued development of their supplier diversity programs.

current uncertainty amongst lenders in this regard.” New Bill Seeks to Create CFPB Inspector General

The latest piece of congressional legislation seeking to reconfigure the Consumer Financial Protection Bureau (CFPB) was introduced by Sen. Rob Portman (R-OH), who is seeking to create a new dedicated, Senateconfirmed Inspector General (IG) to monitor the agency.

In its current set-up, the CFPB shares an IG with the Federal Reserve. However, the Fed’s IG is hired by the central bank’s chairman and is not appointed by the president or confirmed by the Senate. Sen. Portman, who introduced similar legislation in the last Congress, stated this new IG would enable greater accountability and transparency at the CFPB. “Installing a dedicated, Senate-confirmed internal watchdog at the CFPB will provide greater transparency and accountability at the CFPB,” he said. “Given the vast powers of

this large bureaucracy and the CFPB’s insulation from congressional oversight, it is critical that it have an independent IG to ensure robust oversight. Every federal agency should be responsive and accountable to the American people, and this bill will help ensure we have an independent IG in place like we do at other federal agencies.” Joining Sen. Portman as cosposnors on the bill are Sens. John Barrasso (R-WY), Roy Blunt (R-MO), Thad Cochran (R-MS), continued on page 30

MBA Supports Flood Insurance Reform Legislation

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2017

The Mortgage Bankers Association (MBA), has come out in support of newly introduced bipartisan legislation designed to expand flood insurance options in the private market. In a letter to leaders in the Senate and House, the trade group announced its backing of S. 563 and H.R. 1422, both named the Flood Insurance Market Parity and Modernization Act. The MBA stated that these bills seek to address two lingering problems related to flood insurance in the BiggertWaters Flood Insurance Reform Act of 2012 (BW-12): An unclear definition of what can be considered to be acceptable private flood insurance coverage and the uncertainty regarding the impact of private insurance on the product’s continuous coverage requirement. “Prior to the enactment of BW12, lenders were permitted to accept private flood insurance to meet the mandatory purchase requirement of the National Flood Insurance Reform Act of 1994,” said MBA Senior Vice President of Legislative and Political Affairs Bill Killmer. “The BW-12 requirements have made it difficult for lenders to determine whether a private policy provides the necessary coverage under the definition. By allowing individual states to determine what constitutes acceptable private coverage, H.R. 1422 and S. 563 would add clarity to the

MBA’s Mortgage Action Alliance

nmp news flash

continued from page 29

Susan Collins (R-ME), Mike Enzi (R-WY), Dean Heller (R-NV), John Hoeven (R-ND) and Johnny Isakson (R-GA). Wells Fargo Targeted for Boycott

A Message From MAA Chairman Gene M. Lugat y name is Gene M. Lugat, executive vice president at PrimeLending, and I’m the 20172018 chairman of the Mortgage Action Alliance (MAA) Steering Committee. MAA is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association (MBA). As the new Congress and new presidential administration ramp up their activity, it’s more important than ever that you get involved in grassroots advocacy to ensure the fair treatment of the real estate finance industry. Recently, we issued an MAA Call to Action (https://goo.gl/Wj9X2Q) asking our members to support H.R. 916, a bill that would prohibit Congress from counting increases to Fannie Mae and Freddie Mac’s guarantee fees (g-fees) as sources of funding for unrelated spending. Increasing these fees makes loans more expensive and increase costs for borrowers. So far over 2,000 individuals have taken action and contacted their representatives. Please view the Call to Action and Take Action today! If you’ve already taken action, please pass the information along to your colleagues and make our voice even stronger. Of course, one of the biggest pieces of news which affects the entire mortgage banking industry is the confirmation of Dr. Ben Carson as Secretary of the U.S. Department of Housing & Urban Development (HUD). David H. Stevens, president and CEO of the MBA, filmed a quick update video about the industry’s policy priorities, as well as other key government appointments. You can watch the video at https://goo.gl/G6m3pL. MAA needs your help to grow the influence of our industry. The MAA Company Captain program lets you take a leading role by bolstering MAA within your company. Company Captains will be responsible for enrolling colleagues in MAA, supporting our Call to Action participation, and engaging their company and colleagues in other MBA advocacy platforms. Visit http://Action.MBA.org/MBA/MAACaptain to sign up to become a Company Captain. You can visit MBA.org/MAA to join MAA or for more information. You can also can stay up-to-date on current events in Washington, D.C. and your state capital by connecting with MAA on social media. We post the latest political news as well as MAA “Calls to Action” on Facebook at Facebook.com/MortgageActionAlliance. You can also find our group on LinkedIn to connect with fellow advocates and expand your network. If you have any questions regarding MAA, or if you would like to run an MAA enrollment campaign at your office, please contact Peter Shapiro at (202) 557-2933 or e-mail PShapiro@MBA.org. Remember, MAA truly does make a difference in our industry. The larger the group … the louder the voice.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Gene M. Lugat is chairman of the Mortgage Bankers Association’s Mortgage Action Alliance. Gene is executive vice president, national industry and political relations for PrimeLending Inc.

New Report Details Affordable Housing Voids

The nation’s largest mortgage lender is being targeted for a boycott by consumer advocacy organizations claiming that the company is attempting to violate the constitutional rights of its employees and customers. A coalition of self-identified “pro-consumer groups” will announce a campaign against Wells Fargo for what it claims is the company’s attempts at “denying customers and employees their constitutional rights under the seventh amendment to the U.S. Constitution, to hold businesses that engage in illegal practices accountable in a court of law.” The coalition also plans release a letter addressed to Wells Fargo CEO Timothy Sloan calling on the bank to “cease imposing forced arbitration on its customers and workers,” and it will identify a “major consumer organization” that plans to close its $1.8 million account with a Wells Fargo branch in Washington, D.C., as part of the protest. The organizations involved in this coalition include the National Consumers League, Consumers for Auto Reliability and Safety Foundation and Consumer Action. Wells Fargo did not publicly comment on this campaign. Separately, Wells Fargo is also not commenting on the location of its next shareholder meeting, which is scheduled in two months. The Charlotte Observer is reporting that the company may not be divulging the location in advance in order to limit the presence of protestors outside of the meeting. Last September, Wells Fargo was fined $185 million over allegations that its employees opened nearly two million fake customer accounts as part of an effort to boost its sales goals.

The continued evaporation of affordable housing opportunities was highlighted in a new report published by the National Low Income Housing Coalition (NLIHC). According to “The GAP: A Shortage of Affordable Homes,” there is a shortage of 7.4 million affordable and available rental homes for extremely low income (ELI) renter households—those whose income is less than either the poverty guideline or 30 percent of their area median income, whichever is higher. The NLIHC report found that 71 percent of ELI renter households are severely-cost burdened, spending more than half of their income on housing. However, only 35 affordable and available rental homes exist for every 100 ELI renter households. Among the states, there are 15 affordable and available homes for every 100 ELI renter households in Nevada. Other states with a severe imbalance between affordable homes and ELI renter households are California (21/100), Arizona (26/100), Oregon (26/100), Colorado (27/100), and Florida (27/100). Alabama has the most affordable housing to ELI renter household ratio at 61/100. Your turn National Mortgage Professional Magazine invites you to submit any information on regulatory changes, legislative updates, human interest stories or any other newsworthy items pertaining to the mortgage industry to the attention of: NMP News Flash column Phone #: (516) 409-5555 E-mail: newsroom@nmpmediacorp.com Note: Submissions sent via email are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

E S

w with

For more information, call

mortgage automation real time intelligence

877 7-855-7493

or visit ResMacB2B.co ResMacB2B co om

Retail

Wholesale

Correspondent

NMLS 153098. - This infformation is provided to assist business professionals. This is not an advertisement extended to the 3210/.-,+*0+)-(1-)+'&+%-3$#21+"" 2+2/,+ -'0#$- + -0 *3 " 32.+ "! " +2 + - / *$#21+ + ,2)/3$+ /#)- #1-0+*,-+ 20$-)+$2 +

+ ,2 2 -1+%2/1)+ ) + +%/#$-+!

+ 23*+ *$21 + + + +

n National Mortgage Professional Magazine n MARCH 2017

m a r t FA ASTER

NationalMortgageProfessional.com

ns loa

O L C

MARCH 2017 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

How to Discover Your Borrowerâ&#x20AC;&#x2122;s Buying Style BY KERRY JOHNSON, PH.D.

n the middle of presenting a mortgage, Jim discovered he was losing the prospect’s attention. It didn’t seem to be all that difficult. Rates were rates. Finally, Jim stopped and asked if the prospect was still interested in the mortgage. The prospect said, “Of course, but I need you to get to the bottom line more quickly.” Jim thought he was at the bottom line. He couldn’t believe that the prospect was pushing him. If Jim had not been bold enough to ask what the prospect was thinking, he may have lost the sale. Jim was lucky. Most originators aren’t. Are you that good? Do you realize that people buy relationships first, mortgages second? Are you able to size up your prospect quickly and sell the way they want to buy instead of the way you want to sell? You are about to Observe, Predict and Control. You will learn how to Observe your prospects so quickly, you will be able to Predict how they want to buy. So you can Control the sale, not to person There are four types of prospects: Controllers, Animators, Analysts and Relationship Bonders (Bonders). If you can spot these four types, you will drastically increase your sales.

Analyzers If you can imagine an accountant agonizing over a $0.12 error for an hour, you know an Analyzer. These are the types who enjoy solving problems and concentrating on the details. They are organized like Controllers, but seem to be more uncomfortable around people, preferring instead to work with computers and numbers. They tend to be perfectionistic and slow in making decisions. They prefer to be correct instead of fast. The worst thing that could happen to an Analyzer is to be wrong. They see salespeople as imprecise and often prefer to see promises and explanations in writing. Since they are more careful and cautious, they are often uncomfortable with those who are outgoing like Animators. A classic Analyzer is any one of the physicists from the TV program “Big Bang Theory” Each is careful in their diagnosis and unwilling to take risks. These academics are often overwhelmed by the seemingly simple problems of the girls across the hall and uncomfortable with those who seem glib and verbal. The problem is, the Analyzer will

study each detail until they get confused. When they get confused they study more until eventually they get paralyzed and do nothing. One of my coaching clients had an Analyzer. They asked about bond ratings and so much detail that the time required made the mortgage sale too time expensive. When they ask for more detail, ask why they want it. Also tell lots of stories about other clients in their position who wanted the same thing. Stories always convey detail but also allay fears and help them remember concepts better. Relationship Bonders Bonders are warm, caring and considerate. They are peopleoriented, focused and show concern. They are often employed as psychological therapists and social workers because they are such good listeners. They are supportive and reliable. They are team players and are willing to help others get through the day. They are often nurturing, and would rather give in than complain or compete. They strive to maintain personal relationships and care most about family and friends. They are polite and may listen, yet all the while, disagreeing with your point of view. They tend to be slow decision-makers because of their avoidance of risk and need to include others in decisions. They have a need for security and may not care as much about getting 33 more, instead preferring to keep what they have. If you are old enough to remember “Leave it to Beaver” or have ever seen reruns, you remember June Cleaver. She was a classic Relationship Bonder. If you can separate out the mother and make the personality unisex, she was the classic nurturing stable force in the family. One would think if everything came apart, she would hold the world together. The most important thing to her was family. She would listen and go along with someone else’s idea simply because she wanted to maintain the relationship. How to sell to Controllers These are the goal-oriented decision making achievers. They want to learn from you in the quickest way possible how to accomplish their objectives. They want bottom line information along with options in case they need them. If you want to give them more details than they require at the time, provide them in writing to be read later. These types know what they want and where they’re going. All you really have to do is find out and give it to them. Tell them how impressed you are with their ideas and accomplishments and let them gush about their prestige and power. When continued on page 36

n National Mortgage Professional Magazine n MARCH 2017

Animators Unlike Controllers, these types of prospects are willing and able to show their emotions readily. They are friendly, warm and enthusiastic. They are the life of the party, willing and able to talk to everyone offering a story to all. They desire recognition, admiration and fame. These are the dreamers so charming they can talk nearly anyone into doing nearly anything. They are seen by others as charismatic and pride themselves on their ability to accept their vision. They are very persuasive. Like Controllers, Animators tend to be impatient and want to get to the point quickly. But don’t bore them with details. They won’t take the time to listen. They also tend to be risk takers, confident they can talk their way out of any problem that arises. Interestingly, they tend to exaggerate, and when armed with a little information generalize and make sweeping statements. If you ask them for proof for their information or their sources, they may feel offended wondering why you are so petty to ask for meaningless details. They are the big picture folks. Their mantra is, “I

have a plan to save the world, I just misplaced it. Bill Clinton may be an Animator. During news conferences, he often looks as though he is about to tell a joke. When asked about the Lewinsky issue during his presidency, he told his lawyers he wasn’t worried and could talk his way out of any deposition. Some may even say Ronald Reagan was an Animator. He was so unconcerned with the details that during news conferences, he seemed totally uninformed of any initiatives referring instead to assistants and deputies. He was truly a big picture president who was unconcerned with the “small implementation issues of his presidency. Of course, the “Gipper” may have won the cold war because of his Animator personality. Nobody in the government really believed in the “Star Wars” defense plan of the 1980’s. But by never accepting it wouldn’t work, Reagan was able to commit the Russians to expenditures they couldn’t maintain. In dealing with Animators, keep them focused on the big picture. When they produce objections, bring them back to their goals. When they refer to a better rate with a competitor, bring them back to the goals they stated in the beginning. For example, “I know they have a rate 1/8th lower. But you wanted it closed in three weeks, and wanted to conserve your cash with a lower downpayment. Are these still important to you?”

NationalMortgageProfessional.com

Controllers These are goal-oriented driving personalities. They have a high need to get things done and stay in control of the process. They are likely to have a birthday and measure what they have achieved up to that point. They evaluate birthdays as landmark measurements to past performance and a way to look forward to what they can accomplish later. They are most comfortable in controlling people and things. When they listen to an idea, they instantly adapt it to what they want. Otherwise, they may think the idea is a waste of time. Controllers have a desire to get things done quickly and aren’t afraid to bend or break the rules. Their attitude is that it is easier to ask forgiveness than permission. Controllers work and talk fast. They are task-oriented and often work by themselves possibly because others have trouble working with them. They are often irritated with delays and hate to be the recipients of postponement and procrastination. They are seen by others as insensitive, stubborn and arrogant. Unlikely to show you how they feel, let alone even admit to emotions, they are so driven to achieve. But they often forget those who will them get there. Bill Gates may be an example of a Controller. He was interviewed

while still at Microsoft and asked what he does on the weekends. The interviewer obviously was digging for his hobbies. Gates said he relaxes a little and goes to the office later. “Do you attend church, Mr. Gates?” The answer was, “Why would anyone go to church and waste the whole Sunday morning?” Judging from his demeanor on camera, he is a hard-charging, risktaker who apparently doesn’t shy away from walking over those who don’t work quickly enough or get in his way. Ted Turner of Turner Broadcasting was famous for a sign on his desk, “Either lead, follow, or get out of the way.” He isn’t known for his lifelong relationships. A Controller is fond of the adage that even if you are on the right track, you’ll get run over if you don’t move fast enough. A Controller’s mantra is, “Get it done now and get it done right.” If you don’t, I can replace you with someone who can. A Controller may harangue you to get the loan process done faster. They often call daily with status updates and can waster your staff time. It’s important for you to let the Controller know ahead of time what they process is and give them frequent updates to keep them from making your staff crazy. If you have online process updates they can access, you can keep them out of your hair.

MARCH 2017 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

The Real Reason Real Estate Agents Will or Will Not Do Business With You BY BRIAN SACKS

Why you may think real estate agents will do business with you Here are the most common reasons and some feedback on each. 1. You provide excellent service and are always available: Sorry but this is a given just to enter the conversation with a real estate agent. If you don’t provide good service and have good communication

2. You have the lowest rates in town: Sorry but this is simply not even true or believable to most agents. They don’t truly care about giving their clients the lowest rates and no company can ever consistently have the lowest rate in the marketplace and stay in business. What you need are competitive rates and most lenders do offer competitive rates. Real estate agents want to ensure that their buyers are getting a good rate (not the best) and that they are dealing with an originator who will get them to closing quickly, efficiently and with the least amount of hassle. 3. You have some creative and unique programs: This is always a good thing and real estate agents do often want lenders who work with selfemployed buyers, reverse clients, new construction, grant programs, 203k and renovation loans, and of course my favorite, buyers who have had a bankruptcy, foreclosure or other credit challenge. While they will seek you out for your expertise if you have it, they will not necessarily ever come back to you with their other deals until you discover the “real” hook I will soon reveal.

4. You are willing to do Zillow or other ads with them: Yes, real estate agents do love this and they will work with you as long as you continue to pay and they are getting buyers. I am not opposed to doing this personally with some agents, but generally this is not a business model as much as it is a form of extortion. 5. You are willing to pay the desk rental fee: Real estate brokers and company owners love this and they should. It’s additional revenue. But once again, I do not personally do this and never have. To me, this is also a form of extortion. But more importantly, national statistics show that the in-house originator only generates 23 percent of the business in the offices they are in. Maybe even worse is the fact that if you have one bad deal, you are pretty much finished with that group ever sending you more buyers. Then, of course, there are the other ideas that we use to get real estate agents to do business with us: l Open house forms and visiting open houses on the weekends. l Sponsoring broker opens and going to them. l Lunch and learns with real estate agents where you teach.

l First-time homebuyer workshops and seminars. l Charity events with the real estate agents. There are dozens of other techniques as I am sure you know but the truth is, as I mentioned before, there are really two things that real estate agents want and need that will make them loyal to you and create great long-term mutually profitable relationships. Are you ready … First, I will give you the simple easy one which is giving them a pre-approved buyer. Yes, you read that correctly. If you are able to generate buyers and get them pre-approved before they have met with an agent than you can control the transaction. You can do this with social media, and with many of the systems I have created to turn renters into loans, as well as helping the 7.3 million Boomerang Buyers who are now able to purchase again. Getting to the buyers first is actually more important than making real estate agent relationships when you think about it. Once you can produce a consistent flow of new buyers, you are in total control of your income and your production. But there is also a second component of getting and maintaining real estate agent continued on page 37

n National Mortgage Professional Magazine n MARCH 2017

So what do real estate agents really want? This is the question that keeps so many of us up at night and frustrates us on a daily basis. Here are some of the ideas that many originators “think” are correct and some actually are. But please stay with me until the end because I believe there are only two reasons they will continually do business with you. The key word in the last sentence is “continually,” so keep that in mind.

skills, you should simply find a different profession.

NationalMortgageProfessional.com

am sure it’s not a news flash to anyone reading this article that 2017 will be the transition year we have all been waiting for (or dreading) regarding the move from refinance business to a more purchase-based business. Personally, I have always focused on purchase business as have many of the most successful originators in the country.

your borrower’s buying style

there is disagreement, argue facts, not emotion. They won’t respect your hunches or feelings unless you can give them evidence of why. I sat across a table from a Controller recently. After no more than two minutes of pleasantries, he said, “You’ve got 10 minutes to impress me. Go.” Feeling a lot of pressure, I gave my presentation, which he boiled down to only 30 seconds worth of statistics I quoted, ignoring my opinions.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

How to sell to Animators These types are high ego and high energy. They are big picture focused and low detail tolerant. They want you to share in their vision and get excited with them. While you talk, be prepared for them to change subjects mid-stream when the conversation gets tedious. You will have to be stimulating and enthusiastic to win them over. Like the Controllers, they are also task focused, but partiers at heart. Expect them to want to play after the work is done. My brother Kevin is a typical Animator. I asked him to meet with me to discuss our monthly sales training program, the Professional Sales Excellence Series. We agreed to meet for lunch before a round of golf. It was a struggle to keep him focused on the details. He preferred to talk golf and didn’t seem to care about the specifics or problems only what he “felt” the solutions to be. How to sell to Analyzers They are careful and time conscious. They are also detailed and organized. When you make a presentation to them, be prepared to provide details and anticipate questions. But don’t guess at your answers. If they sense that you are exaggerating or guessing, they will suspect you’re not prepared enough to do business with them or worse yet—lying. If you agree to a deadline, stick to it. Don’t be a flake. Unlike the Animators, you won’t find them understanding if you wait a day to return phone calls. If you are going to compliment them, concentrate on their preparation and thoroughness. My CPA is an Analyzer. He often asks me bookkeeping questions of

continued from page 33

which I am unprepared. When I guess, he laughs and tells me he’ll call my secretary for the real answers. When I met with an Analyzer recently regarding speaking to his company, he flooded me with 10 pounds of briefs and annual reports to read before the meeting. He wanted to make sure I was prepared even though I was speaking to a group of his sales people about techniques, not how to make better use or tax credits. But when I did all the research, he seemed impressed. All he wanted was for me to be as detailed as he. Selling to Relationship Bonders A Bonder’s strongest desire is to build and maintain relationships. They are unwilling to jeopardize a relationship even if it means losing business. They are concerned with how their decision will impact others and often want to involve other people in the decision even when it is theirs solely to make. If they think you are more concerned with a commission than their feelings, they will lose trust. Trust is the most important thing to a Bonder. If they lose rapport with you, they will lose trust. Then you will lose the sale. When an originator told me recently that he lost a sale to a prospect who needed his product, I wasn’t surprised. The broker stopped by and mentioned he only had 20 minutes to meet. He seemed in a rush and ran quickly through the details. The Bonder wondered how the decision would affect the broker who sold him the loan three years earlier and even felt guilty that he didn’t call the broker first just to give him a chance. But the worst part was when the broker shoved piles of paper at the Bonder. He also wanted an application fee on the spot without really listening to how the Bonder felt first. If you can see John Smith through John Smith’s eyes, you can sell John Smith what John Smith buys. If you want to sell everyone, all the time, you have to be able to Observe, Predict, and Control. You need to be able to observe the Controllers, Animators, Analyzers and Relationship Bonder buying styles, and control the way you sell to them. When you sell the way they want to buy, your closing ratio will also go up.

Dr. Kerry Johnson is a frequent speaker at mortgage industry conferences. He is the author of six books, including Mastering the Game: The Human Edge in Sales and Marketing, WILLPOWER: The Secrets of Self-Discipline and his newest book, Why Smart People Make Dumb Mistakes With Their Money. He may be reached by phone at (714) 368-3650 or e-mail Kerry@KerryJohnson.com.

real estate agents

continued from page 35

business. It’s very under the radar and very few, if any, others ever discuss this aspect of the Realtor/loan officer relationship. They must know, like and trust you! Let’s break each of these down separately. Once you truly understand this you will quickly be able to grow your business. More importantly, you will have a loyal group of referral partners and you can start enjoying this business again. Trusting you is the easiest one. Simply tell the truth always. When there is an issue, communicate it and tell everyone that you are on top of it and getting it worked out. Do what you say you are going to do and do it when you say you are going to do it. Communicate, communicate, communicate and always return your phone calls. While that is just common sense, I don’t need to tell you how many originators don’t return calls and then run and hide when problems come up. Don’t be that originator!

Brian Sacks is a nationally-renowned mortgage expert who has career closing of more than 5,924 transactions for more than $1 billion. He has trained, consulted and coached tens of thousands of loan officers and company owners over the past 31 years on how to close more loans, make more money, and still have a life. Brian is the host of “Top Originator Secrets,” which can be seen weekly on Mortgage News Network and on his blog. You can get more information and grab your free report on “How to Get Agents Chasing You” at TopOriginatorSecrets.com.

n National Mortgage Professional Magazine n MARCH 2017

So what should you do about everything you just learned? Make a conscious effort to meet your referral partners in-person. Get to know them. Learn about their business, but also learn about

things that have nothing to do business but simply conversations one friend has with the other. Write this down … people care about what you know–but they need to know you care before they do business with you.

NationalMortgageProfessional.com

They must know you and like you! This is truly the key to long-lasting real estate agent relationships and partnerships. The truth is that we have become a culture that relies on text messages, e-mails, social media and other forms of quick communications. But the people cannot really get to know you and vice-versa through these communications. Nothing can replace a good oldfashioned phone call or in-person meeting. As an example, you can e-mail your borrower and the real estate agents to wish them good luck at closing. But it would be better to, at a minimum, call them and even better, actually show up. Much of human persuasion is based on what people see not hear. Opinions are formed based on visual cues we each give off and receive. These cannot be formed on Facebook or LinkedIn nor can they be formed with emails or text messages. I cover an entire course on persuasion called the “LO Unfair Edge,” and I named it that because it truly does give you an unfair edge over any and all competition.

what’s happening in their lives and what their passions are. Just before writing this article, I called one of my agents to see how he was feeling because when I spoke with him last, he said he was sick. After that, I called another one of my agent partners to see how his son was doing after the surgery he had last week. Take your referral partners to lunch. Have cocktail parties and invite them all so you can meet them in a non-business setting.

Become friends with them. I cannot tell you how many of my personal friends are also real estate agents. This is not a coincidence. I have attended their family functions and they have attended mine. Many times, they call me to discuss

“Preferred” Lenders

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

By Andy W. Harris, CRMS

ost of us in the mortgage industry would agree that consumers need to be better educated by getting preapproved before they talk with anyone else in the housing industry. Unfortunately, the statistics show that many new homebuyers meet with their real estate agent before setting a budget and getting pre-approved formally. These statistics are also what I believe can cause significant harm to the consumer through intentional or unintentional steering if best practices are not followed. We all know about the issues on illegal kick-backs violating Section 8 of RESPA (Real Estate Settlement and Procedures Act), phony and false MSAs (Marketing Service Agreements), Joint Ventures, unbalanced marketing expenses, in-house lenders, etc. The list goes on. What I find fascinating is right after recent news of a large fine for a RESPA violation from the Consumer Financial Protection Bureau (CFPB) impacting both

lender and real estate company, news continues to spread of growing joint ventures between real estate and mortgage companies. The year 2017 certainly started slower than 2016 ended for many. As a result, we’re already seeing talks of mergers and these joint ventures developing in hopes of obtaining market share. If we were all honest, we’d agree that every one of these relationships steers consumers with the goal of financial gain. Denial comes from those who are part of these special interests and focused on influence and recruiting, but we need to get real as an industry and call it what it is. Until we focus on consumer education versus manipulation, our clients will continue to seek a real estate agent before pre-approval and be influenced improperly. Could you imagine a market where every consumer was educated and had a planned budget and pre-approval after shopping with many mortgage providers before they met with a real estate agent? What a

perfect world that would be for the housing market and economy. More educated, informed and prepared buyers. No more mortgage loan originators chasing real estate agents and feeding arrogance or begging for business. Accountability would fall more on the shoulders of real estate agents as the originators would be working for their actual clients (the consumer) instead of the agent by fear of losing referrals. The term “preferred” lender can only be made by the consumer. This is their loan and no one else’s, so how can anyone else dictate if they are preferred or not? Competition and choice will do that by having an educated and prepared borrower doing their own research. Some of the worst lenders and mortgage providers I have ever seen use this term and are steered by the same

questionable real estate “professionals.” I am fed up with real estate agents or builders saying “preferred” lender when in fact it is not the preferred lender of the actual client … especially when RESPA violations are hidden, but exist. What are your thoughts and stories on this matter? Are you fed up as many others are in the industry to see your clients (or any consumer for that matter) steered and manipulated? Are you an originator? Send your stories! To have topics considered in future editions, please e-mail me with “OrigiNation” in the Subject Line at AHarris@VantageMortgageGroup .com. These can be confidential or your name and company can be referenced if you wish. You can also join the Facebook Group by searching for “OrigiNation.”

A division of New York Community Bank A National Leader in Wholesale and Correspondent Solutions

Take Control and Unleash Your Potential. At NYCB, we create empowering technology that puts you in control

Ready to take control? Visit us at www.nycbmortgage.com or Email potentialclient@mynycb.com to learn more. This information is for use by current and prospective Clients of New York Community Bank, doing business as NYCB Mortgage Banking, and should not be distributed to or used by consumers or other third parties. ÂŠ2017 New York Community Bank â&#x20AC;&#x201C; Member FDIC. All Rights Reserved.

n National Mortgage Professional Magazine n MARCH 2017

NYCB serves correspondent lenders, brokers, community banks and credit unions throughout the nation with a team of highly experienced sales and service professionals, superior underwriting and a comprehensive product menu.

NationalMortgageProfessional.com

and convenient service experience that your borrowers and referral sources will love. All this, while transacting with more simplicity, speed and risk mitigation.

heard street on the

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

Sterling Bancorp Buys Astoria Financial

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Sterling Bancorp has announced that it will acquire Astoria Financial Corporation in a stockfor-stock transaction valued at approximately $2.2 billion. The union of these financial institutions will create a new Sterling Bancorp with $29 billion in assets, making it the sixth largest regional bank in the New York City area in terms of deposits. Sterling Bancorp was not Astoria Financial’s initial choice for a suitor. Last year, the financial institution sought a merger with New York Community Bancorp, but the deal was rejected by regulators. “By joining forces, Astoria and Sterling will create one of the leading banking enterprises in the NYC metropolitan area and will be well positioned to deliver performance and value for our customers, shareholders, employees and communities,” said Jack L. Kopnisky, president and CEO of Sterling. “We are excited about the opportunity to bring together two companies with extremely complementary strengths, providing a platform to extend Sterling’s business banking solutions across a substantially larger market area, while introducing Astoria’s retail products to a wider financial center network.” Castle & Cooke Mortgage Open New Branch in Maui

Castle & Cooke Mortgage LLC

has announced the opening of its new branch on the Hawaiian island of Maui. This new location will expand the company’s footprint in Hawaii, complementing its sister branch in Mililani, with a focus on purchases and refinances of existing homes. “Castle & Cooke Mortgage has long-standing roots in Hawaii,” said Castle & Cooke Mortgage President and COO Adam Thorpe. “Castle & Cooke was founded in Hawaii in 1851 as a small general store that has since grown into a worldwide leader in the food, transportation and real estate industries. We are very pleased to grow in a place so rich in personal and historical significance to our company.” The new branch will be led by Ray and Kara Beltran, and will include a team of employees, all of whom are industry veterans with 100 more than years of combined experience serving the homebuying needs of the local community. While based in Maui, the team can assist prospective and existing homeowners with their financing needs throughout the state of Hawaii. “With low inventory, rising home values and the economy stabilizing in our area, a lot of homeowners will be looking to upgrade this year,” said Kara. “With that in mind, we’re here to help them get prequalified for their new purchase, as well as walk them through the transition from listing to buying. We have always been passionate about homeownership. We’re wellversed in all facets of mortgage

financing, from FHA, VA and USDA loan programs to condos to niche programs for buyers with diverse needs. But the one thing we do extremely well is educate and nurture first-time buyers.” Stewart Forms Partnership With ClosingCorp

Stewart and ClosingCorp have announced that rates and fees from Stewart’s nationwide network of Stewart Title offices are now available to lenders through ClosingCorp’s SmartFees platform. SmartFees will support, capture and verify title rates and fees from the entire network of Stewart Title offices nationwide, enabling lenders to accurately and confidently obtain quotes for loan estimates (LEs) and closings. “Our lender clients nationwide now have the ability to quickly and easily obtain accurate quotes for our entire menu of title products through ClosingCorp’s SmartFees solution,” said Bill Sullivan, senior vice president of Stewart’s Enterprise Lender Sales Division. “We are committed to helping lenders accurately estimate title rates and fees of real estate transactions for consumers and make this information transparent and easy to understand. Our alliance with ClosingCorp is just one of the ways we’re doing this.” SmartFees integrates loan file information, transfer tax and

recording data, service provider fees from more than 70,000 rate cards, and lender business rules and requirements into a single, seamless process and platform– allowing clients to originate mortgages confidently and compliantly. “Both ClosingCorp and Stewart are dedicated to providing lenders solutions that help automate the residential real estate transaction process while increasing efficiencies, providing an enhanced borrower experience and remaining compliant at all times,” said Bob Jennings, chief executive officer of ClosingCorp. United Real Estate Names AAG as an Approved Reverse Mortgage Lender

American Advisors Group (AAG) has announced its designation as an approved reverse mortgage lender for United Real Estate. As an approved lender, AAG will educate United agents on reverse mortgage loans to present senior clientele an additional financing solution for home purchase. “We’re proud to work with United Real Estate’s agents to deepen their knowledge about this critical product specifically designed for their senior clients’ needs,” said Jesse Allen, senior vice president of AAG’s national field sales team. “AAG will provide United with our comprehensive product training and support resources, helping them personalize the senior purchase experience.” United Real Estate achieved unprecedented growth in 2016,

expanding its national network by more than 1,200 agents and servicing 10,000-plus clients. The company plans to add 36 new market centers and multiply its agent and transaction counts in 2017. “We look forward to introducing AAG to our agents at the United annual convention next month and to kicking off their reverse mortgage education,” said United Real Estate President Peter Giese. “More than 43 percent of our selling clients are Baby Boomers. It’s critical to our growth, and to our ability to serve this large segment, that we are able to share the available tools to assist them through their real estate decision-making process.”

market experience, advocacy expertise and strong educational programs will further enhance the value the agreement brings to the members of Lenders One.” Valucentric Launches New Business Model Within the Valuation Space

Several regional appraisal firms have entered a partnership to offer expanded geographical services for the valuation industry. The founding partners—

The Trice Group, Real Valuation Services, Chicago Appraisal Center, JSG Real Estate Services and Global Real Property Solutions—have been building Valucentric, a new national brand, which offers both residential and commercial valuation services. Led by Executive Members Leland Trice, Tom Schurer and Jason Goldberg, Valucentric has more than 100 staff appraiser employees currently providing a full range of valuation services in 15 states and the District of Columbia. Valucentric utilizes its proprietary, AIR compliant,

ENGAGE valuation management platform to manage workflow and integration across client and industry platforms. Valucentric is currently integrating ENGAGE with various clients and transactional platforms for direct “B2B” transactions that expedite service, expand capacity and provide unparalleled levels of timely communication. “Valucentric is a partnership of like-minded progressive appraisal firms that are working together to build a dynamic enterprise,” said Trice. “The combined entity will continued on page 78

MBA Announces New Partnership With Lenders One

AVERAGE ORIGINATOR COMPENSATION: 2.500%

AND OUR PRICING IS BETTER THAN YOURS! Now Hiring Branch Managers and Loan Originators in 26 States & Growing AZ, CA, CO, DE, FL, GA, ID, IL, IN, MD, MI, MN, MT, NC, NE, NJ, NM, NV, OR, PA, SC, SD, TN, TX, UT, WA (VA Pending)

Building The Nation’s Best Mortgage Company Higher “compliant” compensation per closed loan (2.500% average compensation). Lower rates and fees to your clients. Fast turn times (24 Hours In-House Approvals, Conditions, Docs, & Funding). Ability to lock and order appraisal prior to approval. Ability to submit to underwriting without appraisal and title. CD issued at Initial Approval Open Door Policy to Underwriting, Processing, and Owners. Disclosure Desk / eDisclosures / In-House Account Executive Limited Overlays on all Agency / FHA / VA / USDA Also offering: Jumbo / Non-QM / Manufactured / Commercial / Reverse

We are building the best mortgage company in the nation, but we strive to be even better. We are now hiring PROFESSIONAL Loan Originators and Branch Managers. Call or email me today and we can talk personally about a New Way to Originate. Sincerely, Aaron VanTrojen, CEO

Call Today

480-368-2000

aaron@genevaﬁ.com / www.genevaﬁ.com NMLS 42056

n National Mortgage Professional Magazine n MARCH 2017

• • • • • • • • • •

NationalMortgageProfessional.com

The Mortgage Bankers Association (MBA) has announced a new strategic alliance with the Lenders One Cooperative that will provide new benefits to both MBA and Lenders One member companies. “MBA is proud to be collaborating with Lenders One to add to the wide array of first class products and services we offer our members,” said David H. Stevens, CMB, president and chief executive officer of the MBA. “This agreement will help both parties, and our members, by providing additional cost savings and benefits that help independent mortgage bankers and community banks compete and succeed in today’s lending environment.” As a result of the new agreement, MBA members will be eligible to join Lenders One and receive a discount on their cooperative dues, as well as enjoy numerous benefits that Lenders One provides to its members. Similarly, Lenders One members who subsequently join the MBA will receive a discount on their first year of MBA membership dues, as well as savings on MBA products and services. Further, this strategic alliance will allow lenders to leverage Lenders One’s network of preferred vendors and investors. “Lenders One is excited about our new alliance with the MBA and we believe that our industry leading provider network and innovative technology can help MBA members prosper in the everchanging mortgage market,” said Bryan Binder, CEO of Lenders One. “Also, we believe MBA’s

nmp The future of corporate storytelling Angel Oak Mortgage Solutions LLC

DocMagic

3060 Peachtree Rd NW, Suite 500B Atlanta, GA 30305 855-539-4910 www.angeloakms.com

1800 West 213th Street Torrance, CA 90501 800-649-1362 www.docmagic.com

Angel Oak Mortgage Solutions is leading the way in the alternative lending space. Offering wholesale subprime and alt-doc options, Angel Oak brings safety and reliability back to the non-prime market.

Caliber Home Loans Inc.

Ernst Publishing Co., LLC

3701 Regent Blvd Irving, TX 75063 800-754-8955 CaliberWholesale.com

One Commerce Plaza 99 Washington Avenue, Suite 309, Albany, NY 12210 800-345-3822 x 0 www.ernstpublishing.com

Caliber Wholesale’s success is built on a full array of conventional, government and Portfolio loans, combined with our reputation of providing our business partners with the highest level of service.

DECEMBER 2016 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

DocMagic delivers the best end-to-end Document Preparation, eDelivery and Compliance Solutions in the industry. Over 10,000 customers in fifty states rely on us for innovation, quality, and service.

Celebrating over 1 billion transactions, Ernst Cost2Close solutions process guaranteed fees with unparalleled speed and accuracy, alerting the lender and the settlement agent of fee changes in real time.

Citadel Servicing Corporation

First Guaranty Mortgage Corporation

15707 Rockfield Blvd, Ste 320 Irvine, CA 92618 949-900-6630 www.citadelservicing.com

1900 Gallows Road, Suite 800 Tysons Corner, VA 22182 800-296-2275 fgmcorrespondent.com

Citadel Servicing is committed to the emergence of Non-QM/Non-Prime lending. Pioneering the most innovative lending programs which include Alt Doc, life events (FC, BK, and SS), $3mil loan amounts and low fico scores.

FGMC: Correspondent, Wholesale & Retail + Warehouse Lending. Full spectrum of lending products and services nationwide.

Class Appraisal

Freedom Mortgage Wholesale Division

770 S. Adams, Suite 300 Birmingham, MI 48009 866-333-8311 www.classappraisal.com

10500 Kincaid Drive Fishers, IN 46037 844-668-3830 www.freedomwholesale.com

We’re an award winning Appraisal Management Company focused on building positive relationships with our business partners. We are revolutionizing the way business is done with our new and exciting technology.

#1 FHA/VA Lender (IMF, 2Q16) – offering competitive products and pricing (Conventional, FHA, VA, USDA, Jumbo & more), best-in-class service & relevant industry training. Choose Freedom to Grow.

the source for top orig

nmp The future of corporate storytelling Paramount Residential Mortgage Group, Inc.

United Wholesale Mortgage

1265 Corona Pointe Court Corona, CA 92879 855-PRMG-FAN! (855-7764-326) www.prmg.net

1414 E. Maple Rd. Troy, MI 48083 800-981-8898 www.uwm.com

Paramount Residential Mortgage Group, Inc. (PRMG) is one of the largest privately held national mortgage bankers and residential home lenders, helping homeowners purchase homes across the U.S.!

UWM is a forward-thinking, fast-moving and innovatively inspired lender that is always working to champion mortgage brokers and change the game with the latest and greatest technology and services.

REMN Wholesale 194 Wood Ave. S. 9th Floor 732-738-7100 www.remnwholesale.com Iselin NJ, 08830 REMN Wholesale provides same day turn times every day on new file submissions. With a commitment to the broker experience, REMN is leading the way as a preferred partner in the mortgage industry.

Secure Insight 100 Lanidex Plaza, Suite 1201 Parsippany NJ 07054 877-758-TRUST (7878) www.secureinsight.com

TagQuest Inc. 711 Medford Center # 240 Medford, OR 97504 888-717-8980 www.tagquest.com

ginators!

n National Mortgage Professional Magazine n MARCH 2017

TagQuest Inc. is a full service marketing firm offering the most up-to-date, cutting edge marketing solutions for the ever changing Mortgage Industry. Proudly serving our clients for over a decade.

NationalMortgageProfessional.com

A vendor management solution. The first settlement agent vetting firm in the industry today offers a host of reliable and affordable risk tools for banks, mortgage lenders and credit unions.

Lykken on Leadership

Seven Ways to Deal With Conflict Between Employees BY DAVID LYKKEN

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

orkplace conflict has always been a difficult subject to tackle for leaders in business. In the mortgage industry, there is no exception to this challenge. Sometimes it’s a dispute over responsibilities for a project, while other times, it can be a clash of personalities. Whatever it may be, fights among employees can undermine productivity and— even worse—destroy organizational culture. Today, it seems that Americans are more divided than they ever have been. If you throw the sharp political disagreements into the mix of ordinary, everyday disputes in the office—the combination could be catastrophic. As leaders in the mortgage industry, the responsibility falls on us to mediate between warring factions within our organizations. The trick is to get people to set aside their differences to focus on the work. So, in light of all the things we have to fight about these days, how can we go about dealing with conflict between employees? Here are a few suggestions.

1. Have difficult conversations in person Whether it’s the conversation you need to have with your

“As leaders in the mortgage industry, the responsibility falls on us to mediate between warring factions within our organizations. The trick is to get people to set aside their differences to focus on the work.” employees or the conversation your employees need to have with one another, you’ve got to make it face-to-face if you want it to be honest and effective. In many respects, e-mail can be our friend. We can communicate messages to many people at once, we can have a “paper trail” of important conversations, and we can filter out content that we don’t really need to see. But email can also be a destructive crutch if we use it to avoid difficult conversations. Just look at the way many people use social media to verbally attack people when they wouldn’t even think about saying such things inperson. There’s something about seeing a person’s face and looking into their eyes that makes people come clean. If you want to get real resolution, you’ve got to get people in the same room to hash it out. 2. Assign a fun project When two employees are fighting with one another, it may be a bad idea to force them to work together. Chances are, the results of their work will suffer from their feud. However, you might want to try giving them something fun to do—something out of the norm

that they would both enjoy. It could be something workrelated, or it could be something extra-curricular—like a community service project or participating in some sort of athletic event. The point is this: If your employees are forced to do something fun together, they may realize that they can be cooperative after all. If they can enjoy their time doing that thing, maybe they can bring that spirit of mutual enjoyment back into the office. 3. Don’t take sides Even though we may be leaders in our organizations, we are people too. We have strong opinions, solid views on how things are and how thing should be. The temptation is always there to side with the employee whose views align most closely with our own. However, one of the most important things to remember when trying to be a mediator is not to take sides. Even if you technically do side with one employee or another, you’ve got to make both employees feel like you’re advocating for them. You’ve got to hear each of them out and get both sides of the story. If you

show partiality to one employee or the other, it will lead to even greater envy and resentment. If, however, you are equally empathetic to both employees— regardless of your own personal views on the matter—your listening ear alone may be enough to resolve the conflict. 4. Get to the root of the problem Oftentimes, a fight is really all just one big misunderstanding. When tempers flare and emotions begin to cloud judgment, we often lose sight of what we’re arguing about in the first place. There’s a good chance that your employees’ disagreements are resting on some faulty assumptions. If you want to resolve the conflict, you’ve got to get to the root of the problem. Ask each of your employees what they’re really upset about. Of course, the first answers you get will be nothing but a bunch of finger pointing and blaming. Keep digging deeper though, and you’ll eventually get down to what’s really bothering them. More often than not, you’ll find that the employees don’t really disagree at all; they’re simply

misinformed about the situation. Once you’ve shown them that there isn’t really any reason to fight, they might just call it quits on the dispute. 5. Find common ground It’s a lot easier for us to spot differences than it is for us to spot similarities. Differences stand out, while similarities fade into the background. When it comes to arguments, this fundamental aspect of human nature is all the more true. We quickly identify the ways in which we’re different, but we so easily forget (if we ever recognize them in the first place) the ways in which we are the same. Perhaps, when you have employees who are engaged in disputes, all you really need to do is remind them what they have in common. They both care about their work—about the success of the company or the betterment of the industry. Maybe they go to the same church or root from the same sports team. Maybe they are from the same hometown? No matter how different they are, there is bound to be something they have in common. Find that common ground and get them to shift their focus more on where they converge than on where they depart.

if it needs to be done. Conflict weighs heavily on everyone in the organization. As a leader, you’ve got to be the one to step up and lighten the load—no matter what it takes.

David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken on Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is David@TMS-Advisors.com.

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

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

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

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

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

Try it FREE for 14 days at MBSHighway.com/MNN

n National Mortgage Professional Magazine n MARCH 2017

7. Offer an ultimatum One of the toughest things about being a leader is that you are the one who has to make the hard choices for the good of

the rest of your team. You’ve got to protect your organizational culture at all costs. Of course, terminating your employees is a last resort, but you’ve got to make sure you’re up for the task

NationalMortgageProfessional.com

6. Encourage transparency Just like in any relationship, the connection between employees can be threatened dramatically when they resort to stonewalling. They fold their arms, turn up their noses, and refuse to talk about what they’re feeling. Don’t let them get away with keeping it all bottled up inside. Get your employees to talk openly and honestly about what’s bothering them. First, get them to be transparent with you. Then, get them both in the room together to hash it out. Until each party has the floor to actually open up and explain their frustration, you can’t set to work on finding a solution to the problem. Transparency is the gateway to communication, and communication is the gateway to compromise. If you want your employees to stop fighting, you’ve got to get them start talking.

the team. After you’ve exhausted all other possibilities and you still can’t get your employees to reconcile their differences enough to create a functional work environment, you’ve got to give them a choice: Stop fighting or find somewhere else to work. Letting people go is never something you want to do, if it can be helped. But you’ve always got to consider the health of the entire organization. The bitterness that arises from fierce arguments is contagious, and you don’t want it spreading to

Change as BY RALPH LOVUOLO SR.

t St. Joseph's College (now University) in Philadelphia, I had my first experience in philosophy, with a professor who had so much power that he changed our class time from 3:00 p.m. to 7:00 a.m. just because it interfered with his golf game. He was also the coach of the Golf Team. Stupid sport … I love it. My perception was to fear him, for he was also the Prefect of Discipline. But very quickly, despite his short stature, non-descript voice and lack of any serious distinguishing characteristics, he created feelings of awe in me, along with admiration and amazement. After announcing the change of the time of our class, which angered absolutely every single member of the class, save one member of the Golf Team, was to have an effect on my psyche that I use every chance I get. The first meaningful thing he said, the first teachable thing he did, transformed me. For the next 60 years, standing as tall as his 5’7” would allow, he held in his hand, for all in the class to see, a smooth, flat, dark brown rock, about 10 inches in diameter, about one inch thick. It probably weighed in at five pounds, give or take. Dramatically, he asked an unbelievable question that went something like, "Is this changing?" Was the rock changing? The entire class was dumfounded by such a question. It looked the same, acted the same; it didn't seem to be any different from moment to moment. But then this esteemed Jesuit Priest shouted, in a loud, very aggressive voice. "It's getting older. It's changing every split-second , in time. Can't you see that?" It wasn't a light bulb that exploded in my head, was a nuclear blast. That statement transformed me, and I believe has taken over most of my life it since. It may not be true, but I believe it is the moment that first caused me to think. To start to see things as I had never seen them before. Time and becoming. Time/change/becoming. Time and everything. We cannot understand time, we cannot fight it. It just happens. It is. It becomes. It was. It always will be. It always was. When I drive down a street, and am stopped in traffic because a car is trying to make a turn in front of me, my mind constantly reminds me that, if I was there one minute or second earlier, or arrived one minute later, this wouldn't have happened. You are changing, as you read this

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

The

Mortgage

Godfather

as a Philosophy missive. Time is causing change to both you and everything around you. No one less that the German Philosopher Nietzsche, published in 1882 in The Gay Science, states, "The new is always the evil, as that which wants to conquer, to overthrow the old boundary stones and the old pieties; and only the old is the good. The good men of every age are those who dig the old ideas down deep and bear fruit with them, the husbandmen of the spirit. But all land is finally exhausted, and the plow of evil must always return." In other words: Change is evil; Becoming is wrong; Making different is forbidden. Stay the course; Don't change. But if you don't change, it will occur anyway. It must! If you are not successful and don't change, however, a much worse evil awaits you … failure. You see, change is good. Change is cleansing. Change is inevitable. So join others, much like yourself, who realized the inevitability of it and moved to the forefront of it. They embraced change to beat time.

Ralph LoVuolo Sr. has more than 50 years in the mortgage Industry, with the last 30 as a coach. He is past president and founder of the New York Association of Mortgage Brokers, and long-time member of NAMB—The Association of Mortgage Professionals. He can be reached by phone at (917) 576-1230 or e-mail Ralph@MortgageMotivator.com.

n National Mortgage Professional Magazine n MARCH 2017

Do it differently There is no profession on my part to be either a philosopher or psychologist. There are however some simple rules that I have learned as a participant in long years of therapy. If you first change the way you do things, to do things that will help you become successful, you will eventually see the sense of what you are doing. It is almost impossible to create a defining moment in your life, without something dramatic happening to you. I do not create theater. What I can do, however, is to ask you to realize that if you change a bad,

Now Please don't wait. Have the courage to help yourself beat time. Emerson

is quoted as saying, "Do the thing, and you shall have the power." You can empower yourself to success, by having the courage to transform yourself. In the most practical sense of your business, if you’re not getting the results you seek, change what you do to the things that work for others. Do it! Don't just think about it!

NationalMortgageProfessional.com

Habits We do what we do because we are used to doing them that way. We find a comfort in them. There is no threat to us when we don't change. No one will criticize us if we don't do anything radical. God forbid that someone should criticize us. In order to become successful, you need to become something that you are not. You must change. If therefore you desire success, become it. This will only happen if you change the way you do things. Change the habits that you have to new, success-driven habits. Alan Lake in in How to Get Control of Your Time and Your Life writes as the first three words of his book "Time is life.”

non-productive habit to a practice that produces benefits, your thinking mind will see the sense of that endeavor, and the new activity will become the new habit by the force of your will. If you hit a golf ball, and it slices, hit it differently. If you want to, you can. And for God's sake, don't say that you can't. If what you are doing, is not producing results, do something

else. And since you want to do something else, why not do something else the beneficial way, beneficial for you; the way that others have done something else that is producing results for them. Can you see that logic?

HOW DID YOU HEAR ABOUT OUR 1% DOWN PROGRAM, THE FACEBOOK VIDEO OR ONE OF THE RADIO ADS MY MARKETING TEAM CREATED? - YOU

YOUNITED MEANS WHAT WE CAN SAY, YOU CAN SAY When you partner with UWM, you get to make some very bold claims. Thatâ&#x20AC;&#x2122;s because our people, our products and our capabilities all become yours. So go ahead and talk about your exclusive low rates, your 20-day closings and your Doc-less loan process. Weâ&#x20AC;&#x2122;ll help you say it with the Marketing Toolbox â&#x20AC;&#x201D; a complete library of customizable videos, emails, social posts and more, along with valuable services like Unite and UConnect that keep you top of mind with your borrowers. Itâ&#x20AC;&#x2122;s like having your very own Marketing Team among the 2,000 mortgage experts that own. Get YOUNITED with the #1 wholesale lender in the nation and make our team your team today.

YOU + UWM = YOUNITED | 800.981.8898 | UWM.COM

This information is provided to mortgage and real estate professionals only and is not intended nor is it authorized for consumer distribution. NMLS #3038

The Long & Short The Business of Short Sales

HUD Housing Counseling Federal Advisory Committee to Host Panel on Credit Reporting BY PAM MARRON

s a member of HUD’s Housing Counseling Federal Advisory Committee (HCFAC), which is comprised of three representatives each from the mortgage, real estate and housing counseling industries, as well as three consumer advocates, I am learning more about a great resource–HUDapproved counseling agencies. Panels were planned for midMarch at HUD to show the different ways that HUDapproved housing counselors can assist not only consumers, but also mortgage and real estate professionals. The meeting, however, was cancelled due to a major snowstorm and will be held at a later date. For years, we have grappled with a credit problem where past short-sellers, who attempt to get approved for a conventional Fannie Mae or Freddie Mac mortgage, are turned down because their short sale is credit coded as a foreclosure. This problem is commonly found during the mortgage process of a live contract where a deadline must be met. Often, options to get this corrected quickly are expensive or result in the borrower resorting to an FHA mortgage or a non-QM portfolio loan at a higher interest rate. When this problem was discussed with colleagues in the housing counseling industry, it became evident that this is where a solution to this problem for all parties might be. Why? Loan originators are trained to meet

A MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

contract dates and get data needed to ensure an approval. Housing counselors are trained to analyze and prepare clients for homeownership. The credit code problem specific to short sales is not a singular issue. It starts with the realization that the short sale code is showing up as a foreclosure—something not visible until it is seen in both Fannie Mae and Freddie Mac automated underwriting systems. This doesn’t mean Fannie Mae and Freddie Mac are to blame for this problem—it’s just where it is first seen. Unfortunately, for many affected past short-sellers, they learn of this problem on their first attempt to get a new conventional mortgage when they are eligible again four years after the short sale. But all too often, lenders don’t run these clients through the automated underwriting system upfront which would allow the lender to know there’s a problem right away. And consumers don’t always let the lender know they had a past short sale. Note to all loan originators: Ask your clients if they had a short sale up front! If they did, run them through your automated system immediately! Calls for help often come in when the loan is in crisis. Lenders are instructed on how to do the Fannie Mae Desktop workaround, but if the lender is primarily a Freddie Mac lender, there is no workaround. And because of slight differences in the popular Fannie Mae Home Ready Program and the Freddie Mac

Home Possible Loan, calls for help are increasing for how to fix this problem in Freddie Mac. If past short-sellers know of the problematic credit code issue, they or a credit repair company attempt to get it corrected. The most common fix is to dispute the account. However, the dispute does nothing but hide the credit, offering a temporary fix that appears to work when credit scores increase. However, when the affected consumer applies for a new mortgage the dispute must be taken off of the credit. The previous credit code problem returns, credit scores plummet and if the consumer is in a contract, there is only one quick way to remedy the problem and that is with a Rapid Rescore. Per FCRA regulations, the lender must pay for the Rapid Rescore. Another problem that occurs is that because of the dispute, the “Date Reported” becomes more recent than the short sale closing date because of the new

investigation. This date cannot be changed per credit reporting agencies, and the automated systems can deny a past short seller if this date is within the four year wait limit. No lenders in the U.S. will do a manual underwrite to circumvent the problem, though both Fannie Mae and Freddie Mac have written criteria that allows for a manual underwrite. Last week, it was found that the same credit code problem appears to also affect those who had a modification and are over 120 days delinquent. It is a hunch that going over 120 days delinquent may be the key because an approval of a new loan was received for a consumer who was less than 120 days late on their mortgage prior to the short sale. Nonetheless, we are close to getting this resolved. The housing counseling industry will be involved in assisting in a permanent correction of this problem.

Pam Marron (NMLS#: 246438) is senior loan originator with Innovative Mortgage Services Inc. (NMLS#: 250769) in Tampa Bay, Fla. She may be reached by phone at (727) 375-8986, e-mail Pam.M.Marron@gmail.com or visit HousingCrisisStories.com, CloseWithPam.com or 8Problems.com.

Wh here P Prime Lending End ds Citadel a Ser S vici iciing Be egins AFTER PRIME MAGGI Plu us / The new Alt-A A

650 0

24 mo. from o life event Up to $3 m million loan amount 90% LTTV available Bank statemen e ts for income Interest-on nly available

www.citadelsservicing.com

Wholessale Non-Prime Lending

ODF / Outsside Dodd Frank

Call Citadel Servicing v Now!

949-900--6630 sales@citadelservicing.c vicing com

BEFORE HARD M MONEY 15707 Rockfield B Blvd, 3rd Floor, Irvine, CA 92 2618 N NMLS ID 144549 For mortgage g professionals only. This information n is intended fo or the exclusive use of licensed e real estate and mortgage lending professionals in accordance with local laaws and regulations. Disstribution to the general public is prohib bited. Rates and programs are subject to change without notice. Citadel Servicin ng Corporation is an Equal Opportunity Emplo E yer and d does not discriminate against individualls on the basis of race, gender, color, relig gion, national origin, age, disability, veter e an status, or other classification proteccted by law.

EQUAL HOUSING OPPORTUNITY

n National Mortgage Professional Magazine n MARCH 2017

Foreclosurre, short sale & BK O OK No reserves e 90% LTTV available Bank statemen e ts for income Down to 5 500 Fico, O/O & N/O

Stated income - DSCR Business p purpose Interest- o only available

NationalMortgageProfessional.com

NON PRIME / 1st & 2nd mortggage

MARCH 2017 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

S P E C I A L

F O C U S

O N

It’s All About Marketing! Help Your Referral Partners Market: A Four Step Process By Steven Winokur

Step 1: Find the borrowers First we must find the right prospective borrowers. Before that happens however, everyone needs to understand a clear definition of what makes the right prospect. If your business targets working

Step 2: Market to the borrowers Most businesses have marketing materials to help promote their business–brochures, sales flyers, Web sites, e-mail campaigns, ads, etc. What they don’t have is material promoting the products and services of their partners. To assist with that, we’ve made the decision to invest in the design and distribution of a series of flyers that allow our referral partners to promote our different loan products. Our broker partner can take these flyers and customize them with their own logo and contact information, effectively making it their own. This way, they have professionally developed tools designed specifically to target those borrowers that fit our profile. Step 3: Qualify the borrower So your referral partner has identified the prospect and marketed to them, but now it’s time to qualify them. Are you able to truly help the prospect? Giving

Step 4: Close the borrower/loan At this point, your referral partner has identified a prospect, gotten them interested by marketing to them and qualified them as someone your product or service can help. What’s left? Making the sale. There are a lot of ways to help a referral partner in this step. You can help by sending one of your sales executives out to speak to the prospect in conjunction with your partner. You can show comparisons of your products vs. your competitors. Or you can allow your referral partner to discount your rates to close the deal. With our product offering, we have

Steven Winokur is the chief marketing officer for Angel Oak Companies, the management company for the nation’s top non-QM lender, Angel Oak Mortgage Solutions. He can be reached by e-mail at Steven.Winokur@AngelOakCapital.com.

n National Mortgage Professional Magazine n MARCH 2017

Four step process At Angel Oak Mortgage Solutions, we look at it as a four step process. Finding the right prospective borrower, marketing to them, qualifying them and eventually closing a loan with them. Let’s take a look at how you can provide assistance to your referral partners at each step of the process.

parents, the definition of the right prospect will be different than one that targets single men and women. This clear definition will allow your referral partner to best understand who they’re looking for. Once they understand that, they can now market to them.

helped our referral partners by allowing them to differentiate on the ability to close the loan because of the depth of our product offerings. By offering products or services others don’t, your referral partner doesn’t have to try to differentiate over price/rates or talk about the same things as everyone else. They’re not bringing a business card and the same box of doughnuts as everyone else. The prospect wants–even needs–to buy from your referral partner because they’re offering something others don’t. In our situation, our referral partners can offer products like a bank statement, or an investor cash flow programs–two programs many don’t offer. As a wholesale lender, the equivalent of our referral network drives our business. As such, we’ve made an effort to assist them through every step of the process. Think of your own referral network. What can you be doing to assist them in finding, attracting, qualifying and closing prospects? What can you do in your business to help your referral partner grow their own business? How can you make it easy for your referral partners to send business your way? Creating a win-win for both you and your referral partners means everyone wins.

NationalMortgageProfessional.com

s a wholesale lender, our entire business model is based on a form of referrals. We don’t market directly to potential homeowners, relying on our broker partners to do so. Instead we work to demonstrate to those broker partners the value of partnering with us. As with many who rely on a referral partners, it’s their job to find, market, qualify and close those potential borrowers who fit our lending profile. So the question becomes, how do you best assist your referral partners so the relationship is mutually beneficial?

your referral partner a tool to understand if your product or service is a good fit for the prospect makes this process much smoother. In addition, your referral partner can understand not only if you can help them, but how–which product or service is the right one to solve their needs. Otherwise you run the risk of wasting time and energy on a prospect before realizing you can’t truly help them. For Angel Oak, we’ve created a tool called Quick Quote (AngelOakMS.com/QuickQuote) that can help our referral partner understand if we can help the potential borrower and what might be the best program for them.

a special focus on ITS ALL ABOUT MARKETING!

Marketing to U.S. Latinos By L. Maria Zywiciel

here are 55 million Latinos in the United States, accounting for nearly $2 trillion in annual purchasing power. The Hispanic market is not only growing, but is expected to continue to grow rapidly into the foreseeable future. By 2060, the U.S. Hispanic population is expected to reach 119 million. Consumer brands have long tuned into the growing influence of the U.S. Latino market. Today, tortillas outsell hamburger buns and you’re likely to see salsa on the table of your favorite restaurant as it is now the number one condiment, stripping Ketchup of its long standing title. However, the financial services market has found it a bit more difficult to connect with Latinos. Disproportionately, Latinos under-participate in banking services compared to the

general population. Estimates from the 2015 FDIC National Survey of Unbanked and Underbanked Households indicated that seven percent of total households in the United States were unbanked, meaning that not one member of the household had an active checking or savings account. For Latino households, 16.2 percent were considered unbanked. Considering that many Latinos underrepresented when it comes to basic banking products, it is clear the mortgage industry will have an even harder time in helping Latinos overcome barriers. While it may require more effort to engage the Latino market, the benefits for the industry will be worthwhile. According to the Urban Institute, Latinos will account for 52 percent of new homeowners between 2010 and 2030. Mortgage industry

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

We couldn’t ask for a bettter grade.

a special focus on ITS ALL ABOUT MARK

products and services that cater to this market segment will be among the most successful in the coming years. With improved economic conditions, these gains could be even more pronounced. What can the mortgage industry do to engage more Latino families and effectively reach this important group of potential buyers? There are numerous approaches that can be discussed, including recruiting, operational and product development. While all of these are important to a well-rounded and effective strategy, marketing is the cornerstone to reaching the Latino market and is often the very first impression a business makes when reaching a new potential consumer. How can your marketing efforts be more than just the translation of a flyer from English to Spanish? Here are some ways in making your message more effective to the growing Latino market: 1. For starters, understand the Latino market is by far younger than the general market as a whole. Nearly 40 percent of Latinos are millennial (born between 1981-1997). Adjust your message to a younger audience. 2. It’s a diverse market within the segment. The Hispanic heritage is from a wide range of Latin American countries with different traditions and customs, but is all brought together in the U.S. They embrace modern American culture, melding it

The Bond Exchange is at the top of the class and consistently gets g high marks for customer service, great price es, and state-of-the-art technology. You can get automatic unde erwriting, rating, and quoting in less than a minute at TheBondExchange.com. The Bond Exchange is a national surety broker specializing in low-cost bond programs. Join the many professionals who pay just 1/2 % premium for their state license bonds.

into something new and unique. 3. Utilize technology. The Hispanic market are quick adapters of new technology and oftentimes are trendsetters in the digital world. Latinos over index the general market in terms of social media, for example. 4. Latinos look for endorsements … the types of endorsements that have been proven to be particularly effective with Hispanics include: Associations, Celebrities, “Consumers just like me” and professionals/experts. 5. Do it with heart. Like any effort, start it and manage it like you mean it. If you’re just “checking a box,” it will be obvious. You need time to let a good strategy take hold. Give it time, foster it, seek input and professional advice if needed. You don’t have to be Latino to sell to Latinos–you just need to invest the time to learn about the cultural characteristics and the values that would drive this segment to trust your brand. According to the Joint Center for Housing at Harvard study, diverse markets will account for 13 of the 17 million new household formations between 2010-2025 and the Latino market will be 40 percent of that diverse market growth. With those numbers, the time and investment in better understanding this market will be well worth it.

“How can your marketing efforts be more than just the translation of a flyer from English to Spanish?”

L. Maria Zywiciel is president of NAHREP Consulting Services, a marketing consulting firm specializing in the Hispanic segment and housing industry. For more information, visit NAHREPConsulting.com.

ARKETING!

a special focus on

a special focus on ITS ALL ABOUT MARKETING!

The CRM: An Invaluable Marketing Tool By Ericka Smith s the mortgage industry becomes more and more acclimated with innovative technologies and digital marketing tools, it’s obvious that using a Customer Relationship Management (CRM) system is no longer an optional part of being an effective and competitive loan originator–it’s entirely necessary. In such a competitive market, loan originators need every advantage in the race to win the hearts of both borrowers and Realtors.

to-access location is also essential. For example:

important calls l Have the capacity to host/send e-mail campaigns to all types of contacts (referral partners, current clients, and prospects) l Integrate with your LOS

l Which loans have you done with John Doe? l Who referred John to you? l Who was the listing agent or buying agent associated with John’s last loan? l What was John’s interest rate on the last loan you closed? l What is John’s favorite color?

Let’s look at each of those features in more detail … A good CRM will be able to sort your contact by type. But an even better system will help you to

If John calls you tomorrow– prove to him that you “have your stuff together” by having your stuff together. A calendar is another essential

l Sort contacts by type l Sort customers by stage in buying cycle (i.e. prospect, inprocess, past client) l Provide alerts any time a client can save money, lists a home, or is simply celebrating their loan anniversary or birthday l Contain all information relative to a contact in one easy-toaccess location (loans, marketing materials you’ve sent, notes, etc.) l Offer a calendar that can organize your daily tasks, reminding you to make

What are the features of an exceptional CRM? If you’re ready to take your marketing efforts up a notch, it’s well worth your time to find a CRM that includes the most innovative features available. These may include:

easily identify and group customers by their stage in buying cycle so you can deliver tailored messages and manage day-to-day activities necessary to maintaining that relationship. An excellent system will also evaluate your clients’ data and alert you when situations such as these pop up: A refinance might be a good option for the client due to current market conditions or the client has listed their home for sale and may need financing assistance for their new home. Or, sometimes, it’s more simple; being alerted to the fact that a past client is celebrating their loan anniversary means you can make a quick call and check-in with them. Having all information related to a particular client in one easy-

feature. Loan originators can see, at a glance, what they need to do on daily basis. Calendars should be populated with reminders tied to client, Realtor, or prospect campaigns. For example, prospects and leads are valuable. Make sure you have a system to organize how and when you touch base with these valuable leads. Another feature of a basic CRM is the ability to send and schedule e-mails. What’s even better? A CRM that can send more complex campaigns to your current clients, referral partners, and prospective clients. Whether it be a series of e-mails, direct mail pieces, or a combination of both, your CRM should be able to handle the scheduling and automation of these more sophisticated campaigns.

l Innovative and interactive tools for clients and referral partners l Ability to co-brand with referral partners l Creative videos that are branded with your information l Automatic e-mails that are pushed out to your referral partners when their client’s loan reaches a new milestone l Memorable post-close mail and/or email campaigns that are easy to manage Again, let’s take a closer look at each of these … While standard e-mails will probably never go “out of style,” it’s much more eye-catching to include interactive games and tools within your emails to impress and interest your clients. Easy-touse mortgage calculators and trivia quizzes are great ways to grab a client’s attention and to get them thinking more about the mortgage process. Can you easily survey your clients on their communication continued on page 56

n National Mortgage Professional Magazine n MARCH 2017

What do I look for in a CRM? Now that you know the “why,” here’s the “what.” An effective CRM should be meet a variety of basic requirements, such as:

The final standard feature that you should expect from your CRM is the ability to integrate–or sync– with your LOS. This will eliminate the manual work of entering your lists of referral partners and clients into the system. Plus, as a bonus, you’ll be able to send automated message to clients based on specific actions/activities in your LOS system. Did your client’s file just move to underwriting? A terrific LOS system will ensure that the client, listing agent, and buying agent are kept in the loop on this little detail. If you are in a position to make a CRM system purchase decision, consider your choices carefully. Take the time to build a strategy around its use. What’s the use of a feature/function if you don’t have the staff, talent, or plan to utilize it? If you are originating, this should be a question you pose to your marketing and communications teams. So now that we’ve covered some of the basics, let’s dive deeper.

NationalMortgageProfessional.com

Why do I need a CRM? A CRM might seem like a “nice to have” feature, but an effective CRM is essential to every loan originator’s success. Not only does it keep your clients’ and referral partners’ information organized, but it also provides you with alerts and reminders of upcoming tasks that would be extremely difficult to remember otherwise (i.e. sending a card to each client on their birthday.) Plus, if you have the right CRM, it’s ultimately going to save you a ton of time. When everything is automated (and preferably integrated with your LOS system) or easy to schedule, it takes a lot of the “planning” pressure off of you, so you can focus on generating more leads and building relationships.

a special

a special focus on ITS ALL ABOUT MARKETING!

the crm: an invaluable marketing tool

preferences? In this day and age, all of us should recognize the value of knowing if a person prefers a call, text or e-mail. A simple survey sent out as a part of a campaign for prospects would do the trick. Another option that not every CRM offers is the ability to cobrand marketing materials with your referral partners. From flyers to e-mails, if you can co-brand your marketing pieces, you’ll develop a stronger connection with your referral partners in the minds of your mutual clients, which will help solidify your business partnership. Just ensure you follow RESPA requirements and share expenses appropriately. Video has become another essential aspect of a CRM. Any CRM that is able to create professional, fun videos to catch the attention of your clients is a CRM worth looking in to. These are especially helpful if you are

a special focus on ITS ALL ABOUT MARK

took to send them a thoughtful note. Stand out from the crowd.

continued from page 55

able to send videos for each stage in the loan process– because it helps your client visually and audibly learn about the mortgage process. Dynamic videos are also very memorable–so your client won’t easily forget you in the future. All good CRM systems will allow you to custom create e-mails that include your videos; that technology may be a bit more advanced for some, but it’s becoming a “must” to understand! As an originator, you might not need to understand it fully–but your marketing department should. Another ideal feature of a topnotch CRM is the ability to have e-mails automatically pushed out to your referral partners when their client’s file reaches a new milestone in the loan process. This allows your Realtor partners to stay instantly updated on the status of your shared client’s loan–which is an important part of

providing transparency and building strong relationships with your referral partners. One final feature that you should look for in an exceptional CRM is a creative post-close campaign (whether it takes the form of direct mail, e-mail or both). Post-close e-mail marketing allows you to send periodic emails to your past clients, over a span of several years after their loan closes. This allows you to stay fresh in their memory, without being overbearing or bothersome. Post-close mail campaigns are another great option, because they allow you to send print pieces to past clients (such as holiday, birthday, and loan anniversary cards). These are ideal for clients that you know will appreciate the extra effort you

Still not convinced? All of these CRM features add either the innovative technology element or that extra “human” aspect, both of which keep you foremost in your clients’ minds. And really, that’s what a CRM is all about–making yourself and your company memorable. If you’re still on the fence about using a CRM, remember that doing so will have an undoubtedly positive impact on your origination business. It’s simply a matter of finding the right CRM for your needs. If you can spend the least amount of time on your CRM and still leave lasting impressions with your clients and referral partners, increase your production, and make you and your referral partners lives a bit easier–you will know that you’ve found a “winner.”

Ericka Smith is the marketing manager for Waterstone Mortgage based in Pewaukee, Wis. She may be reached by e-mail at ESmith@WaterstoneMortgage.com.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

WE ARE YOUR KEY TO MORTGAGE LOAN ORIGINAT ATOR R EDUCAT ATION NMLS APPROVED QUALIFYING AND CONTINUING EDUCAT ATION COURSES CHAMPIONS SCHOOL OF REAL ESTA TATE DELIVERY RY METHODS ChampionsLive!

Classroom

Online

www.Champions S chool .com / Loan

Real E state

Designations

Lo an Origination

Home Inspec tion

Appraisal

Business Etiquet te

ARKETING!

a special focus on

a special focus on ITS ALL ABOUT MARKETING!

Three Important Social Media Tips for Originators By Heather Keith

numerous originators build and maintain their social media platforms. Here are a few tips that they have found helpful to achieve results and remain compliant because, remember state and federal advertising regulations apply to social media, too. Social media is free, quality visibility is not

takes time and consistency. As far as LinkedIn goes, while the platform does offer advertising, I feel that for novice users, Facebook offers a much more targeted vehicle for reaching consumers. We’re keeping our eyes on LinkedIn’s advertising, and feel that the platform will probably evolve to offer more opportunities for originators in the future. But for now, we recommend to our originators that they use LinkedIn’s traditional services to connect with their clients and referral partners and to recruit top talent. Want to stand out? Go micro One of the great things about social media is that it can

Share and then keep sharing Developing ongoing content is probably one of the most daunting aspects of social media, and understandably so. It’s not easy to develop content that’s new, timely, interesting, helpful, and relevant, but to develop that content on a regular basis? Phew! I know, it’s a task, especially when you’ve got a business as an originator to run. No one knows this better than I do. As national director of marketing at my firm, I work with originators every day. All of them are busy, and that’s the way we like it. Originators like being out in the field, networking, meeting with borrowers and referral partners, teaching first time homebuyers the ins-and-outs of the mortgage process, and all of those things you do that keep you away from social media. It’s a busy life. I know this is going to be a tough pill to swallow, but if you’re going to use social media, you need to be consistent. At my company, we continued on page 58

n National Mortgage Professional Magazine n MARCH 2017

Sure, social media is free. But that doesn’t mean your social media campaign will be as well. Social media is like the real world when it comes to visibility. “Word-of-mouth” advertising is free. Its online version, in its most extreme form, is viral content. However, getting that kind of word-ofmouth advertising or viral content is extremely difficult and rare to achieve. In the real world, if you want to achieve the visibility you want, when you want it, it is probably going to cost you. When it comes to loan originators, the top social networks are Facebook, LinkedIn, and YouTube. Facebook has advertising, as does LinkedIn. At Supreme

connect people from different continents as easily as it can connect you to your coworker in the next cubicle. But because social media is so vast, it’s important that you get hyper-local and personal as possible. Reach out to your local real estate industry groups and businesses that have followers similar to those you want to attract. You can do this by first setting up business accounts on the networks and then connecting and following these groups and businesses via LinkedIn and Facebook. When starting out, you’ll want to ask your friends to like and follow your page, but the most important thing is that you should incorporate your presence in your business process. Develop a way to start a conversation about connecting online with your clients and partners. Of course, growing your network is only the beginning. Social media is an ongoing activity. You need to start posting relevant content, and you need to stay consistent.

NationalMortgageProfessional.com

Social media … s a marketing professional for a nationwide lender, this is a topic that comes up all the time. If you’re like most of the originators I meet, you believe you should be using social media at least in some capacity. Maybe you adhere to the school of thought that if you’re not online, you don’t exist. Maybe you think that, since the internet is essentially free, you’re missing out on free advertising if you’re not on any of the networks. Maybe you think achieving visibility is really easy, and you’d be just fine if you could just set up a regular schedule. If any or all of those thoughts sound familiar, you’re not alone. You’re also not 100 percent right. Social media can be deceptive. Establishing a successful (and compliant) business presence looks a lot easier than it is. If you’re like most people, you spend at least 10 percent of the time you should be working, sharing and catching up with friends on Facebook and the like. You’ve probably thought—at least once—I’m online all the time already. How hard can it be? The issue is, using social media for personal purposes and creating a successful business presence are two completely different things, especially for professionals like loan originators. You’re dealing with what amounts to the largest and most important investment of most people’s lives. Pouting in front of your favorite cantina and snapping a selfie isn’t going to help you win business. Unless you’re a natural, and in a position and industry where your personal life is part of your personal brand (think Richard Branson), you’re wise to take a different approach. As we tell our originators at Supreme Lending, a successful social media presence doesn’t have to be difficult to create and maintain. We’ve helped

Lending, at the time of this printing, we recommend Facebook advertising for those who want to invest. The key here is to know your objective before you start out. Do you want to build your brand? Do you want to generate leads? The type of campaign you run will depend on your goals. Once you figure out what you want to achieve, you need to develop a theme, and stick with it. Advertising is not a one-time deal. It’s a build. Don’t think that you can run one ad and get leads, or that you run one ad and everyone will know who you are and what you do. It

a special

a special focus on ITS ALL ABOUT MARKETING!

a special focus on ITS ALL ABOUT MARK

three important social media tips for originators

have a program for providing our originators with original content, but if your lender doesn’t there are still few things you can do that can make it easier for you to stay consistent and current. First, make a plan that includes a list of all of the events that you can share, the platforms you’ll use to share those events, and whether or not you’ll use a photo. For example, have you helped a first time homebuyer into a home? Make sure to get permission to share that information from the borrower. Did you read something newsworthy about your industry? Write a brief synopsis and share that. Remember to keep the information as local as you can, be mindful of copyright protections, and always credit the source. If your lender doesn’t handle your marketing, and you have to handle all of your visibility

efforts on your own, as a rule of thumb, you should be spending at least 10 percent of your time marketing yourself. That amounts to four hours of your 40 hour week. Social media is only going to become more prevalent and popular. There’s a common misconception that social media is only for millennials—and younger. Not true. According to Pew Research in its November 2016 Social Media Update, a majority of Americans now get their news via social media. Additionally, 79 percent of online adults (68 percent of all Americans) use Facebook. Homeowners and potential homeowners are connecting personally and professionally on their computers, smartphones and laptops. Don’t miss out If you haven’t started yet, consider putting your toe in the water. You don’t need to use all

continued from page 57

“…a successful social media presence doesn’t have to be difficult to create and maintain.”

of the platforms. Simply start with one. After having worked with hundreds of originators, including many who had never

used social media for business, I will say that, while it feels daunting at first, you just might discover how much fun it can be.

Heather Keith is director of marketing for Supreme Lending, a full-service mortgage lender licensed in 50 states with branches throughout the U.S., where she is focused on supporting sales growth through a hyperlocalized marketing strategy. You can learn more about and connect with Heather on Twitter at @BankerGirlHK or on LinkedIn at LinkedIn.com/in/HeatherAKeith.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

www.callfurst.com

ARKETING!

a special focus on

a special focus on ITS ALL ABOUT MARKETING!

Effective Uses of Direct Mail By Nikki Groff

actually decides to pick up the phone and call us. We have all seen the dismal results of marketing efforts like that as well. I believe that by finding disruptions and focusing on the highest positive peak of the emotion that I can incur will continually create a stronger connection with the customer, client, partner and society. An effective vehicle for this type of marketing is direct mail. Direct mail allows you to be extremely targeted which will more likely result in a higher response rate and generate your desired result. There was a time when marketers used more of a mass marketing approach to direct mail, the idea being if you mail to as many people as you can, you are more likely to reach

the person receiving the message and making a connection. I like to think about it from the person on the receiving end of the mailer’s perspective, what would I want as a consumer, what would make me not immediately throw this piece into the trash? Most recently at Wallick & Volk, I have used the approach of encouraging our loan originators to partner with a real estate company and a title company and market themselves jointly as a neighborhood expert to a specific targeted neighborhood.

Nikki Groff is chief marketing and business development officer for Wallick & Volk Mortgage. She is instrumental in evolving the company by providing companywide leadership, management and vision.

n National Mortgage Professional Magazine n MARCH 2017

In my 20-plus years of mortgage marketing, I have tried anything and everything and found the most effective marketing causes a disruption … a disruption that creates an immediate reaction. We all know this is not easy to do. I believe the way to cause a disruption is to know the target audience and to tailor the message with content that forms a connection. If the target audience is too broad, the chance of a connection is minimized. The best place to make a connection is at the highest peak of emotion. Something that speaks to the recipient and makes them feel like the message conveyed was meant just for them. We have all experienced this when we watch a 30-second TV ad for Hallmark … when it is over we have tears in our eyes and immediately want to call our mothers! Unfortunately, most of the time we find ourselves focusing on the lowest peak of the emotional rollercoaster, this is when we send out a marketing

message that is not very targeted or that can be easily ignored by the consumer. We have all experienced this as well—when we throw an ad in a local publication and it’s basically just our business card because we can’t think of anything else to do or we don’t have time to come up with anything else. In these instances, we are simply hoping that someone in the market for a mortgage stumbles upon it and

When you put this marketing strategy into the “Four P’s” equation, the product has a wider reach combining mortgage, real estate and title together. As a neighborhood report, it appeals to more people. The price is lower since it is split between all three parties. The place is extremely targeted to a specific neighborhood. And the promotion is offering value to the recipient because it is all about what is happening in their own backyard. It includes neighborhood events, restaurant openings, active, pending and sold properties and so on. We even include a section for local businesses to get involved and offer specials or coupons to encourage people to shop local and support local business. It is a great way to get involved in the community and help one another while every party generates more business. Sending it out monthly builds frequency and brand awareness and people start recognizing each business included and feel like they know who you are, which leads them to be more comfortable doing business with you. In time, residents will even begin to look forward to the monthly newsletter arriving so they feel more informed about their neighborhood. Another element to accompany the mailer is to create a neighborhood expert landing page that mirrors the direct mail piece which you can use to direct people to in the newsletter. Setting up a Facebook business page and posting specials, events and happenings is another great tie in. You could even have your realtor “go live” and record video from a nearby open house to generate some excitement. The idea is to get creative and have fun with it! All your efforts will continue to add value and create that unbreakable connection with the consumer. At the end of the day, the most effective use of direct mail, or any marketing effort, causes a disruption and makes a connection with the target audience. The more we can focus our efforts, the more successful mortgage marketers we will be.

NationalMortgageProfessional.com

s loan originators, we are not salespeople that sell mortgages … we are marketers that market mortgages. And as marketers, we have countless ways of delivering our messages to potential audiences. With so many options, how do we determine which channel to use, with the proper messaging, to get the biggest bang for our buck? A simple formula I like to consider with every marketing campaign I implement is the “The Four P’s” which helps me stick to the basics. It’s broken down as follows: l Product—mortgage l Price—the overall cost to execute the campaign l Place—the marketing channel used to deliver the message l Promotion—the process of reaching the target market and educating them as to the “why” or “need” of the product. How does the product add value to the consumer? What action does the consumer need to take upon receiving the message?

someone in the market for a mortgage. This is commonly referred to as the “spray and pray” approach to direct marketing. However, paper, printing and postage costs are continually going up and mailboxes are more and more full, which results in a lot of waste. Smart marketers realize you need to target leads who will buy. In the rapidly changing world of digital marketing and social media, I have found direct mail to stand the test of time as an effective way to target leads who will buy. This can be accomplished by offering value to

a special

a special focus on ITS ALL ABOUT MARKETING!

Marketing in the Technology Age By Chris Knowlton ith the start of a brandnew year and busy season around the corner, many professionals in our industry are putting a heavy focus on their marketing efforts. The first quarter of the year is a great time to sit down and evaluate current practices and procedures, assess any need for improvements, and brainstorm ways to take marketing and branding to the next level in 2017. In the fast-paced world of marketing and social media, it can be difficult for busy mortgage experts to keep up with current trends and ever changing social platforms. However, with the same time management skills you use to manage your loan pipeline and some basic platform knowledge, social media can be a great asset to first, take advantage of your existing referral base and second, serve as a strong source for generating new business. As top industry professionals, we aim to provide each and every customer that walks through our door with the best possible experience, ultimately building solid, long lasting relationships that have clients coming back time and time again for their mortgage needs. Over the years, the mortgage industry has relied heavily on client databases for referral business and, has often, relied solely on referral business as their main source of income. With the industry being largely built on these strong relationships, it is important to remember that in the modern, technology-driven, mortgage world, these clients are more than just clients—they are your biggest fans and personal advocates, and they will help you get your name out there both on and off-line. Due to the tech-heavy world we live in today, harnessing the power of social influence to turn your client database into an army of raving fans has never been easier. We have found a number of solid ways to accomplish this through generating online reviews, keeping in touch with

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

clients through top-of- mind marketing techniques, utilizing social media branding & promotions, and applying direct feedback with quick and informative customer surveys. Online review sites such as Google, Yelp, and Facebook are often the first place future clients look for a mortgage professional. Have you ever googled your name and business or mortgage

a special focus on ITS ALL ABOUT MARK

based on what their peers have experienced. In the past, you may have received a hand written “thank-you” note from a client raving about your service. While that note personally affirms your level of service and ensures a solid relationship with that client for years to come, imagine what would happen if that note was being advertised to millions of potential customers online, every day. This is the power of online reviews—the more positive reviews you have, the more likely people will take notice and want to work with you. In addition to customer reviews,

“In the fast-paced world of marketing and social media, it can be difficult for busy mortgage experts to keep up with current trends and ever changing social platforms.”

professionals in your area? What is the first thing that comes up? If you want to stand out among competitors and show clients-tobe what kind of service you can provide for them, asking your past clients to write online reviews about you is a top way to attract new clients through social influence. Social influence, or the influence of other people in your online community, can help lead a consumer to make a decision

using social media to personally stay in touch with clients long after the closing will help keep your name top-of-mind when they have homebuying needs, as well as when their friends, family, coworkers, etc. have needs as well. Lucky for us, the digital world makes staying in touch with clients simple. Whether it is a friendly text message on their birthday, an informative email when the rates have dropped, or

an invite to “Like” your page on Facebook, staying in front of clients and consistently promoting your name will keep you, their trusted mortgage lender, ahead of your competition. Social media is also a great way to connect with your other referral base—your Realtor partners. Connecting with them online can help you stay in touch between transactions and also provides you with the chance to help them promote their own business as well. Becoming active with them on social media regularly helps you to stand out as a lender partner and can remind your Realtor sources to keep you in mind for any new leads that may come their way. Surveys are another great way to connect to your customers and help gain personal insight on their experience from start to finish. If you are not currently receiving feedback from clients, surveys provide an ideal platform to discover what went well and what could have been better. Once you possess that information based on a real customer who went through the experience with you and your team, you can use it to your advantage to help refresh certain aspects of your business model. Direct feedback also allows you to personally engage with clients who deemed your service as less than satisfactory to find out what could be improved. This ensures your service will exceed expectations the next time they work with you or refer family and friends. Customer surveys are also a great marketing tool for loan officers to utilize, with client permission, to turn an approved customer survey or review into a testimonial to advertise on your social media pages. Again, harnessing the power of social influence to past, present, and future clients. Whatever your current practices are to help promote your business, having a strong but professional social media presence is crucial in today’s tech-savvy world. With the new generation of Millennial homebuyers breaking into the market at full speed, this is especially important. Being present online with a professional Facebook page, LinkedIn profile, Google business account, and whatever else you have time for, is a great way to connect with past clients and also show credibility to future clients. Being

ARKETING!

a special focus on

spend on yellow pages each month? Apply that toward your social media management. If you’ve been in this business long enough, you know, depending on your market, that you used to spend at least $200-$1,000 on Yellow Pages advertising. Putting that money toward your social media efforts will have a better return-on-investment (ROI) than the old yellow pages. And, if you’re still paying for display ads in the phone book, please stop

immediately and spend that money on social! For successful mortgage professionals today, incorporating these marketing and social media practices into daily routines is vital in continuing to grow your

a special

business. If you have proudly served a number of clients during your time in the industry, now is the time to turn those happy clients into raving fans that will help promote you, your services, and your company to the public on a daily basis.

Chris Knowlton more than 20 years of experience in the field of information technology, with a unique shared knowledge base and expertise in business marketing and communication.

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2017

active on these platforms also provides you with opportunities to promote your personal and company brand through daily content to help generate new leads and stay in front of your current clients. If you do not currently have a strong presence, an easy way to start is to create your profiles and encourage your existing referral base to “like” or connect with you on these platforms. Even if you currently have a strong online presence, with the vast number of social media platforms and profiles live today, it can be easy to get lost in the “noise.” Staying relevant and properly tapping into social networks in order to generate leads requires several approaches including using “call to action” features on profiles or posts, promoting sponsored ads and updates to reach specific target markets, researching audiences to ensure coverage, and producing strong, quality content. While being active on social media daily is important, it is more important to assess what your content looks like to consumers and how you are prompting your “fans” to take action on or off-line. Utilizing a “call to action” in your posts on social media is key to promote engagement. Whether the call alerts customers of low rates and provides them with a link to contact you for more details, or, promotes your latest blog post and has a link directing them to your website, calls to action are a crucial part in helping your social networks become a true lead generating machine. If you already produce great content and want to take it a step further, targeting specific audiences and utilizing social media advertising tools such as Facebook boosts, LinkedIn sponsored updates, Google AdWords, etc. can be a great way to help get your name out there on a larger scale. At little cost, adding social media advertising efforts to your marketing budget can greatly increase awareness and help promote your name, ultimately generating new leads and new business. Don’t have time in your day to manage all of these important platforms? Consider hiring an assistant or outsourcing your social media management. My recommendation is simple – remember what you used to

a special focus on ITS ALL ABOUT MARKETING!

Remaining Relevant: A New Era of Marketing By Rick Arvielo

tilizing effective marketing measures is vital for mortgage bankers who want to remain competitive in today’s marketplace. Without knowing and implementing successful marketing strategies, lenders will find it difficult to progress as the industry continues evolving. The Urban Institute has already projected that more than half of all new homeowners from 2010 to 2020 will be Hispanic households; while Zillow estimates that Millennials account for 42 percent of current homebuyers, which is more than any other generation. They’ve not only

become the largest generation in size, surpassing Baby Boomers, but they’ve also become the largest segment of homebuyers. In fact, half of U.S. homebuyers are under the age of 36. Since today’s primary housing consumer is transitioning to a younger, more diverse population, so the direction of marketing must also change. As Millennials and Hispennials (Hispanic Millennials) quickly emerge as dominant forces in today’s housing arena, mortgage bankers have to know how to reach them. Lenders who aren’t gearing their marketing toward these buyers are missing the opportunity to succeed. Mortgage companies must understand their

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

® First Guaranty a Mortgage Corporation a

CORRESPONDENT LENDING fgmccorrespondent.com

WHOLESALE LENDING fgmcwholesale.com

This information is solely for mor tgage professionals and should not be provided to consumers or thi rd par ties. Information is subject to change without notice. This is not a commitment to lend and there is no guarantee that all bor rowers will qualif y. All loans are subject to credit, under wr iting, and proper t y approval. Other restr ictions may apply. FGMC is not acting on behalf of HUD, VA, FHA or any other agency of the federal government. Fi rst Guarant y Mor tgage Corporation (Company NMLS ID 2917) is licensed by the Depar tment of Business Oversight under the California Residential Mor tgage Lending Act; Regulated by the Division of Real Estate in the Sttate of Colorado; Licensed by the Delaware State Bank Commissioner to engage in business in this State under License No. 24 03 (renewed through 2015); Georgia Residential Mor tgage Licensee; Illinois Residential Mor tgage Licensee; Kansas- Licensed Mor tgage Company; Licensed by the Mississippi Depar tment of Banking and Consumer Finance; Licensed by the Nevada Division of Mor tgage Lending to make loans secured by liens on real proper t y; Licensed by the New Jersey Depar tment of Banking and Insurance; Licensed Mor tgage Banker – NYS Depar tment of Financial Ser vices, Licensee No. B50 0 8 0 0 (d/b/a FGMC In Lieu of Tr ue Corporate Name Fi rst Guarant y Mor tgage Corporation); Rhode Island Licensed Lender. For complete corporate and branch licensing information, visit w w w.fgmc.com or w w w.nmlsconsumeraccess.org.

a special focus on ITS ALL ABOUT MARK

language. Millennials are a tech-savvy, on-the-go generation who want instant access to information, while Hispanics tend to have a nontraditional credit profile and more than 70 percent of them speak Spanish. From understanding social media to building online reviews to developing mobile technology, mortgage lenders have to know the role each of these areas plays, if they’re going to win with marketing, and ultimately win with today’s consumer.

consuming; so it’s important for loan originators to partner with companies that provide these business-building resources. Companies that have a robust social media library that can help market mortgage professionals as thoughtleaders is key to succeeding. While it may be challenging to stay consistent on social media, platforms such as Hootsuite and ScheduGram make it easier by allowing mortgage professionals to schedule their posts in advance.

Use social media Social media marketing is an essential component for lenders who want to stay on the cuttingedge in the mortgage industry. Since Millennials are true digital natives who have grown up in a digital world about 90 percent of them use social media. Hispanics also heavily rely on social media, Facebook in particular. It’s the second most common way for them to get their news. Hence, social media has the potential to be a powerful marketing channel. It’s less of a sales tool, and more of a relationship-and-brandbuilding vehicle that can help mortgage professionals connect with today’s housing consumer and create industry partnerships that eventually lead to new business opportunities. The key is creating valuable, easy-to-share content. As savvy digital users, Millennials tend to do a lot of research; so providing quality content that answers relevant questions is on target with they want. For them, it’s more about helpful guidance and educational posts, not necessarily impersonal ads that lack real substance. Blogs, how-to videos, and informative tips, all resonate with this generation. As well, Hispennials stream more than six hours a month of online videos, 60 percent more than other demographics. To remain relevant with them, mortgage lenders have to put an emphasis on video content, specifically content designed for a Hispanic audience, which can be shared across multiple channels. As loan originators with busy schedules, creating this sort of quality content on a consistent basis can be difficult because writing blogs, developing posts, and making videos is time-

Build online reviews Online reviews are another primary component for creating business success, especially in customer service related industries; and mortgage banking is no different. Lenders and mortgage professionals who want to win with today’s consumer, need to have a solid online presence because about 90 percent of homebuyers begin their search online; it’s important for mortgage professionals to market in places where homebuyers are looking. Not only are consumers house hunting online, but they’re seeking out the opinions of other customers in order to decide which mortgage company or professional to work with. About 80 percent of consumers trust online reviews as much as they trust a friend’s recommendation. Since, honest, insightful reviews have become common place in our culture, it’s essential for both mortgage companies and loan originators to develop a solid online brand. Not having an online reputation can negatively impact a business because both Millennials and Hispennials want authentic feedback before making a buying decision. To build an online presence, lenders have to make sure customers not only receive a high standard of service, but excellent follow up too. Instead of only contacting a client when a loan closes, mortgage companies can utilize technology that allows them to systematically monitor customer satisfaction throughout the loan process so that once the loan is complete, the borrower looks forward to rating their experience with the loan originator and the lender.

ARKETING!

a special focus on

the agent would have the opportunity to ‘ride along’ on the originator’s marketing. Even after the loan funds, mortgage companies should send a cobranded closing packet to the customer, which keeps the originator and agent “top of mind” with mutual clients; and over the next several years, after the loan closes, lenders should maintain an ongoing campaign that jointly markets the originator and the agent to shared clients.

The key is being customercentric so your marketing efforts reap ongoing benefits. This type of long-term marketing initiative not only builds customer loyalty but it cultivates long-lasting business partnerships with agents. Cobranded marketing is never about getting business from the real estate agent; rather it’s about maximizing existent continued on page 64

BRANCH PARTNERSHIP OUR BUSINESS IS HELPING YOU SUCCEED

UP TO

$25,000

Branch Startup Funding IF SIGNED UP BY

4-30-17

With our proven branch system you can brand yourself in your local market while participating in the management success of your branch. We empower you to succeed with a proven platform that fully supports your office. Our record of long-term relationships with our branch managers speaks for itself. Act now to become a part of the integrity team. Are You Looking for a Branch Partnership that: • Provides training for your loan officers and processors • Offers underwriter access for scenario help on the spot • Has a full product suite including manufactured home, rehab and condo loans • Supplies full-time marketing and social media support to help you close more loans • Helps you increase your market share with innovative technology and fast decisions Our Beneﬁts Include: • 401(k) with company matching • Group health and life insurance • Flexible compensation plans

CALL TODAY AND MAKE 2017 YOUR BEST YEAR EVER!

Your Professional Hometown Full Service Lender NMLS #69371 NC • SC • TN • AL • IN • KY • OH • GA • TX • FL • CA

www.integritymtgs.com

recruiting@integritymtgs.com

Dean Wolfe 888-411-9375

n National Mortgage Professional Magazine n MARCH 2017

Utilize co-branded marketing To stay “top of mind” with consumers and to build strong business partnerships, mortgage lenders should provide co-branded marketing for all joint transactions involving a loan officer and a real estate agent. Since, mortgage lenders already send out marketing materials for the officer, they should take advantage of that opportunity by allowing the agent connected to that transaction to ‘ride along’ on that content. Whether it’s social media posts, an e-mail campaign, or print collateral, this is a great opportunity to incorporate the agent on valuable content. This co-branded marketing campaign should happen before, during, and after the loan process. As soon as a joint purchase takes place, mortgage companies should send a co-

branded marketing kit to the agent connected to that transaction. When the agent gets the kit and sees his or her own headshot, logo, and contact information alongside the originator’s info, it creates a ‘wow’ moment. It immediately allows the agent to begin envisioning what it would be like to work with the loan originator by showing specific examples of co-branded marketing materials and how

a special

NationalMortgageProfessional.com

Go mobile In this on-the-go age, mobile technology is no longer an optional luxury but a must-have necessity for mortgage professionals who want to keep pace with today’s key housing consumers. Both Millennials and Hispennials are high mobile users. In fact, Millennials are the most mobile generation, yet while Hispanics are the most avid smartphone users around. As a result, today’s customer is accustomed to having quick access to information. If lenders want to attract this demographic of homebuyer, they must learn how to provide on-demand service. Developing a Web site that is compatible with mobile devices is vital, so are high-functioning apps. Since eight out of 10 Millennials turn to mobile devices or apps during the homebuying process, lenders should have a home shopping app available for their customers. As well, lenders need to equip their loan officers with mobile technology that enables them to provide their clients with on-the-go service. Loan officers should be able to check a loan status, send a prequalification link, communicate with underwriters, and manage their pipeline–all from their mobile device; otherwise, they can’t competitively market their services to an on-the-go buyer.

a special focus on ITS ALL ABOUT MARKETING!

remaining relevant: a new era of marketing

business relationships. Remaining cognizant of RESPA guidelines is imperative; so lenders should never market for agents, only market once a partnership is formed on a deal and mutual customers are shared. Create bilingual educational materials Even though the U.S. Hispanic population will more than double by the year 2060, Hispanic households still have lower homeownership rates than other demographics. Considering this projected growth, it presents a prime opportunity for mortgage lenders to serve this underserved market. Keep in mind though, when you’re marketing loans to people who speak a foreign language, it’s important to consider your state laws or seek out the advice of an attorney. To begin effectively reaching prospective

Hispennial homebuyers, start with educational marketing. For example, Hispanics tend to have limited credit history. When loan officers create content and workshops geared toward building credit, it not only helps prepare Hispennials for homeownership, but it leads to a winning marketing strategy. With more than 40 million Spanish speakers in the U.S., it’s important for lenders to produce bilingual educational materials and hire Spanish-speaking mortgage professionals. This type of customer-friendly approach makes a mortgage lender more appealing to one of the fastestgrowing demographics in the country. Remaining relevant It can be a daunting task for loan officers to stay abreast to all of the marketing methods needed to reach today’s generation of homebuyers

a special focus on ITS ALL ABOUT MARK

continued from page 63

“To stay ‘top of mind’ with consumers and to build strong business partnerships, mortgage lenders should provide co-branded marketing for all joint transactions involving a loan officer and a real estate agent.”

while simultaneously navigating mortgage regulations. This is a progressive industry that’s everevolving. That’s why it’s vital for companies to not only update

their strategies as times change but for loan officers to align themselves with mortgage lenders that are committed to staying on the cutting-edge.

Rick Arvielo is chief executive officer of New American Funding. In 2003, Rick and his wife Patty began doing business as New American Funding, a 40-employee, refinance call-center. In 2011, Rick introduced purchase transactions to the company’s operations, and in 2012, New American Funding opened their first branch. Their retail division has since exploded, adding 130-plus retail branches and more than 750 loan officers focused on purchase transactions in only four years.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

FEATURED MONTHLY EMPLOYMENT OPPORTUNITIES

Account Executive Atlanta, DC/Northern VA, Pittsburgh, Portland, Salt Lake City, San Diego, and Northern CA We’re looking to more than double our sales force this year to take advantage of the fastest growing segment of the mortgage industry. If you’re an experienced Wholesale Account Executive or have ever considered becoming one, come talk to us today. • Plan, develop, and execute sales strategy to meet established goals in assigned territory • Secure new and maintain current relationships with originators, through both a wholesale and correspondent channel • Market Angel Oak products and programs to the mortgage and real estate community • Serve as liaison between brokers and operations team With an industry leading reputation for delivering an extraordinary mortgage experience, we are also looking for underwriters and other operations positions to support this growth in our Atlanta headquarters. Don’t sit around while others take advantage of this growing market. Come join the nation’s top Non-QM lender by emailing careers@angeloakms.com for additional information and consideration.

www.angeloakms.com

ARKETING!

a special focus on

a special focus on ITS ALL ABOUT MARKETING!

How to Get an Undefined Return on Your Advertising Investment By Eric Weinstein

“I know, you are all thinking that this is ridiculous as you market on the ‘Book of Face’ and ‘The Gooooooogle.’ But how is that working out for you?”

Eric Weinstein worked in banking, on the commercial real estate side until 1991, when he fell in love with residential lending. In 1995, he started a small mortgage company in his basement called Carteret Mortgage Corporation, which in 2003, grew to one of the largest mortgage broker companies in the United States. Eric is semiretired, doing mortgages by referral only. He may be reached by phone at (703) 505-8692 or e-mail EWeinstein4U@gmail.com. 65

n National Mortgage Professional Magazine n MARCH 2017

sway a dissatisfied group of exprescribers who had had negative experiences!” I know, you are all thinking that this is ridiculous as you market on the “Book of Face” and “The Gooooooogle.” But how is that working out for you? Not such a great return on your money, is it? Don’t forget to factor in your “opportunity cost” of doing all this, also. Wouldn’t it be a better investment of your time treating your customer right to begin with? I have tried all the search engine optimizations, direct mail campaigns, lead buying and even a series of stupid, awkward YouTube videos. Once I tried advertising on grocery carts and the prescription bags you get at your local supermarket (if it had worked, you would be seeing it now in YOUR local supermarket). None of them were cost-effective for me. Maybe they will be for you, since you are a marketing genius (can you hear my sarcasm, or am I being too subtle). Do the math, properly utilizing your referral base is so good, it’s literally an undefined return on your investment. Say you make $5,000 on a loan and it costs you zero to get it. The number $5,000 divided by zero is literally “undefined.” Try it on your calculator if you did not take elementary school mathematics. Take that Stephen Hawking! Okay, here is a step by step plan on how to do it … First, be in the mortgage industry for 25-plus years. Then, do a good job while you are doing loans by learning everything you can and being really, really smart to help your customers. Then, ask for them to refer business to you because they are so happy with your service. It’s that simple. What? You have not been in the business for more than 25 years? Then consider this your end goal. Advertise as best you can until you develop a word of mouth following by doing a good job. What? You HAVE been in the business 25-plus years and you still don’t have a strong following.

The true secret to getting referral business is to just be a good person. Take care of your clients, don’t rip them off, listen to their needs and do the very best you can for them, every time. That, more than anything will get you more business. If you can’t do that, then I don’t like you either.

NationalMortgageProfessional.com

ere is something this magazine’s sponsors won’t tell you … not all marketing costs you money. Sure, if you are huge national mortgage company that must feed the beast with tons of fresh meat, then you are going to have to spend huge bucks advertising rocket ships on TV. But what about us little guys? We don’t have the budget, capacity or inclination to spend the big bucks that it takes to get a conveyor belt of new clients. Here are the economics of the situation. If you are a big box mortgage company with a large overhead, including a mega advertising budget, you are going to need lots of new borrowers under which to spread that cost. If you are small guy (say 5’6”) and you have a low overhead (mobile home ceiling), you can get by with just a few borrowers every month. My father used to say in the 1960s, “There are three major forms of communication in the world: Telegraph, telephone and tell a woman.” Of course he was highly misogynistic, a racist and very anti-sematic … and we were Jewish! This is my long and complex business strategy for getting more business: “I do a good job.” All of my business comes from “word of mouth.” If you are a Millennial, don’t LOL or give me a frowny face emoticon. This is a real and valid marketing strategy. George Silverman, a psychologist, pioneered word-ofmouth marketing (en.wikipedia.org/wiki/Word-ofMouth_Marketing) when he created what he called “teleconferenced peer influence groups” in order to engage physicians in dialogue about new pharmaceutical products. Silverman noticed an interesting phenomenon, while conducting focus groups with physicians in the early 1970s. “One or two physicians who were having good experiences with a drug would sway an entire group of skeptics,” said Silverman. “They would even

Then let me tell you something your mother will never tell you. You are really, really bad at your job. No one likes you. No one is referring business to you because you were not nice enough or smart enough or were attentive enough to their needs. The truth hurts, but there you are.

a special

a special focus on ITS ALL ABOUT MARKETING!

Video Games or Game Changers? By Shirleen Von Hoffmann ust a few years back, cellphones were used for the personal use of making calls. Fast forward to today … cellphones can do practically anything and actually they have replaced many things we have used in the past like video recorders, cameras, scanners, a compass, a music player, audio recorders, flashlights, address books and so much more. It’s all in one small computer/office we can carry around with us. Many in sales don’t realize how using phones/tablets in creative ways can make a difference in the lives of buyers. You can take a cellphone and make it your sales phone because it may bring a sale faster than any other tool you may have in your arsenal. I want to speak to the use of video and how it can be a real game changer. Let’s dive in to a few ideas of using video on your cellphone/tablet.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Creative video follow up The more creative the follow up is, the more you stand out to a client, and the more they will remember you. Sending creative touches are so much better than a boring, computergenerated “Thank You” card. If you feel like you have run out of ideas for following up, stay tuned. The list of ideas I am going to give you in this article, will give you many creative ways to follow up using video.

use video e-mail. Let’s get creative. Branding Before you take off, make sure all of your photos and videos are branded for social media distribution. It’s vital that anything you send to a client, whether it be video e-mail, a standalone video or photos be branded with your company

a special focus on ITS ALL ABOUT MARK

the basics of buying a home is still exciting to a buyer. So give them videos of their home or updates as many times as you can. It’s a big deal to them. They are buying the most expensive thing in their lives, a home. Once they receive your video, they will most likely share it on Facebook and other social media sites. Your branding is on all of the videos/photos and they are sharing it with family and friends … how brilliant are you? One important note … be aware of the fact your video

“Many in sales don’t realize how using phones/tablets in creative ways can make a difference in the lives of buyers.”

Video e-mail If you have never used or don’t know what video e-mail is, it’s a game changer. Video e-mail allows you to video yourself, from your phone/tablet or PC, talking to your client. With your phone/tablet, you can move it easily to film anything around you, as well and be in the field. You simply open the app, hit the video button, record your video message, enter an e-mail and hit send. It’s that easy. Three steps and you are sending a message that is very different from any other e-mail. Now I challenge you to think outside of the box of ways to

logo, name and contact information. Remember all of this will most likely be shared on your client’s social media and you want their friends and family to see your branding when they view your videos or photos. Here are a few ideas to utilize video e-mail l Video game changers: No matter how far advanced we have become in technology,

will most likely be shared on social media and make sure not to share personal facts or too much information. Keep it simple, use first names or no names, don’t film addresses and make sure it’s professional looking and sounding. Short and sweet works! l Update videos: I love to do updates on files via video. The first example would be

you in a video e-mail, to the client giving them an update on their loan, checking in, rate update, program update, got your documents everything is going great! This is a creative way to stay in touch, have them see your face and do something no one else is doing. l Team video: Another idea is to share a video with the sales agent where you both are high-fiving and looking at the camera saying, “Hey Winston’s, guess what? You’re approved!” It’s another fun and creative way to deliver happy information. It also bonds you with the agent and makes the client feel as though you and the agent are a team working in tandem for their benefit. It’s easy to do these short videos when you are doing a weekly visit with the agents and send them off on your video e-mail. The videos can be for multiple stages of the escrow that could be turned into mini celebrations. In addition, you could do video e-mail with your team and do short videos of important changes on the file together. For instance, docs are off to title, loan is approved, the loan is funded, include your mortgage staff, processors, underwriters and funders. Doing a quick joint video gets everyone engaged and makes a statement to the client that you cared enough to do it. Can you imagine getting a celebratory video from the people who helped you achieve your dream of a lifetime? Doing a team video for introductions at the beginning, items needed, celebrating holidays and recording any community outreach your team participates in are all reasons to share a video with your clients. Home progress video For mortgage lenders who focus on new home business, it’s a great idea to take video of your clients’ home while you are on-site weekly doing your sales calls with the agent. Once you finish updating the agent, then you visit the lot locations of your client’s home and take a

ARKETING!

a special focus on

quick video of their construction progress and send them videos, weekly. With video e-mail, it makes it easy to look right at the cellphone camera and say, “Hey, Mr. Miller, I am on-site today and just noticed your roof going on your new home and thought I would send you a quick video so you could see it too! Hope all is going well … talk soon!” And then press send! Your video e-mail will arrive with your branding on it and surely be shared on social media. You could do an e-mail with the agent for updates and another when you go on-site— kill two birds with one sales call. Again, the ideas are endless. For resale homes, this is a bit harder to achieve, but if you can get access, you can do a walk-through video and send it as a gift. As they make changes to their home, they will appreciate the original video you did to compare it, later on down the road.

can be used for many topics confusing to consumers. The possibilities of utilizing video with these hand-held sales game changers are

limitless! With the right tools, video can change how you do business and your cellphone could become your sales phone with no extra cost to you!

Shirleen Von Hoffmann is sales coach, mentor and owner of Home Builders Edge. She may be reached by phone at (866) 600-EDGE or e-mail Shirleen@HomeBuildersEdge.com

The Same as Being There in Person: Complete Interactive Sales & Marketing Training Delivered Live Anywhere Your Sales People Are Your sales team will learn and master: l

How to Target the Right Referral Partner Relationships l Deliver the Ultimate Agent Presentation l Easily Overcome the Fear of Rejection or Objections

Increase Your Productivity and Effectiveness in the Field l Win the Business Over Your Competition l And so much more…

Contact Ron Vaimberg, nmpU Executive Director & Head Coach directly at 888-979-6678 Ext. 801 or email at RonV@MortgageNewsNetwork.com for more information and pricing.

n National Mortgage Professional Magazine n MARCH 2017

Third-party validation Using a cellphone/tablet for third-party validation is an amazing sales tool. For instance, if you are talking about the benefits of homeownership, discuss how it

can be a tax deduction. You can simply enter that into Google and get all kinds of sites for the client to view video from CPAs or lawyers, that educate them about those benefits but it’s not YOU telling them, its various legal sites or tax companies! It keeps you from talking about something that’s not in your expertise and could be considered legally binding and it’s a third-party validation to educate them and move them closer to buying! This

a special

NationalMortgageProfessional.com

Virtual reality There are a ton of options for Virtual Reality (VR) coming out every day, but most are very expensive. One idea to get close to VR is to video a home with a cellphone/tablet. The home can be a resale or new home. With a steady hand, you simply walk through the home as if you were viewing it, and as you walk, you talk. Discuss the home’s features and details as though you were with them and continue throughout the home, garage and backyard. Once done, you save the video and then download it to YouTube so you have an easy to send link. From that point onward, it becomes easy to e-mail the link to clients for further viewing, if the spouse cannot be there, as a thank you or simply to remind them of the home they really liked. You see many 360 videos of homes, but nobody is talking about the home in them. For new home communities, you can do this for each model you have and trust me, it comes in very handy.

a special focus on ITS ALL ABOUT MARKETING!

a special focus on ITS ALL ABOUT MARK

How a Strategic Marketing Plan Can Grow Your Business By Jim Anderson strategic marketing plan is a foundation for increasing pipeline and closing more loans. The retail independent mortgage banking environment is evolving quickly and success no longer depends on real estate agent and builder relationships alone. Delivering marketing qualified leads (MQL) and surrounding originators with the tools to work smarter are more important than ever. When thinking about your strategic marketing plan, you need to ask yourself a few critical questions: What is your brand identity, who is your customer, which tactics will result in more loans and how do you measure success?

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Brand identity and understanding your value proposition It all starts with defining the brand. Your brand identity is your most important asset. It will determine whether customers will buy your product, invest in your company, consider employment and support in a time of crisis. A strong brand identity directly relates to stock price and the bottom line. According to the 2016 National Survey of Mortgage Brokers, 41 percent of borrowers’ site reputation of the lender as very important. The first step positioning your brand for growth is conducting analysis to understand what the market, your customers, partners and employees think of the brand. Next, evaluate your competitive landscape to identify your

“The first step positioning your brand for growth is conducting analysis to understand what the market, your customers, partners and employees think of the brand.” competitive set and the gaps. Using this intelligence, identify your core strength, the value proposition and how your business delivers on this promise. This is what will set you apart in a sea of sameness. Targeting your sweet spot for customers Consumers view buying a home as one of their most important financial decisions and selecting the mortgage that best meets the consumer’s needs is a vital part of that decision. The 2016 National Survey of Mortgage Borrowers also found that almost half of homebuyers only consider a single lender or mortgage broker before they apply. Your brand, brand identity and value proposition help position you as a brand that can be trusted and can provide guidance and information that helps keep them informed through the homebuying process. Today’s buyers are dramatically changing as we see Millennials entering the homebuying arena, including the growing Hispanic population, baby boomers and Generation X who are buying new or second homes. According to the National Association of Realtors (NAR) annual Profile of Home Buyers and Sellers, the median age

of first-time home buyers was 32 in 2016 and the Joint Center for Housing Studies of Harvard University, The State of the Nation’s Housing 2016 report, states as Millennials enter their 30s, they are expected to form well over two million new households each year on average, raising their numbers from 16 million in 2015 to a projected 40 million in 2025. Additionally, the Harvard study shows that Hispanic immigrant Millennials will increase the need for housing as they age, adding to the strong demand expected from what is already the largest, most diverse generation in history. Is Generation X and your company prepared to market to these two growing segments while also reaching baby Boomers? Which of those targets is your sweet spot and how can maximize that for growth? Understanding your target beyond demographics is key, not all Millennials are the same. A 32-yearold married mother of two is very different than a 23-year-old single man, segmenting your market, understanding psychographics and what drives purchase intent allows tailored communication to each segment and an efficient return on advertising spent.

ARKETING!

a special focus on

Building an integrated media strategy to deliver results Now that you have your target audiences identified, it is time to think about what tactics will drive success. Are you looking to increase awareness in a new market, expand engagement with real estate agents or a certain consumer segment, drive traffic to your site, Facebook Page or collect consumer information? Depending on your goals you will need to align those goals with your target audiences to determine the right mix of paid, earned and owned media. In regards to paid media, if you have the budget consider leveraging a media planning agency. They can provide your team with the expertise to effectively target each of your audiences in the right media, at the right time, to maximize results. Today’s media-rich culture and the proliferation of mobile devices provide a multitude of options to consider including digital display advertising, behavioral targeting, look-alike modeling, search engine optimization and search engine marketing. Social media provides a variety of planning tools that help

a special focus on ITS ALL ABOUT MARKETING!

you focus your social media efforts by demographics, geography and behavior. However, it is important to remember in this digitallyfocused world that there is still power in highly targeted direct mail and email campaigns. Exposure focused on thought leadership and driven by public relations will greatly enhance paid media efforts. Public relations leverages the power of relationships with reporters, industry organizations and events to position you and your company as industry experts. A strong public relations program can increase awareness and business, help in recruiting high-performing employees, enhance SEO for the company Web site and boost community sentiment. The majority of consumers place greater trust in a news story than a paid advertisement. The NAR Survey found once again that the two most popular sources for homebuyers are the Internet (95 percent) and real estate agents (92 percent). Your company’s Web site can be your greatest asset or a source of missed opportunities. As you build the

relationship with the homebuyer, think about how you can establish your site as an ongoing resource, not a one-time visit. How can you create engagement opportunities with homebuyers that will result in some action such as subscribing to a newsletter, homebuyer tips, calculating a loan payment or completing a pre-application? Your Web site is the center of your online and owned media community. Leverage those same engagement opportunities across social media and your blog. Build a community where homeowners are informed on the topics important to them and engaged with your brand. Measure and fine tune The final step and one all too often overlooked is measuring your success and refining your plan based on the return on investment. The first step is to set your baseline before you start the plan. You don’t know the impact if you don’t

a special

establish where you started. It is important to make sure each of your media channels is measurable. When it is time to measure, think about a few key questions: How do they compare to expectations? How do they compare to industry norms? Think about a dashboard that allows you to quickly compare your starting point to each campaign by channel. There is a multitude of free resources including analytics on social media and Google Analytics. A strategic and ongoing approach to measuring your success allows you to highlight the return on investment to your executive teams and boards. As you complete your evaluation, it is time to revisit your tactics and how you will measure those tactics. A strategic marketing plan is a roadmap that can have detours, road blocks and potholes but if you invest in a strategic approach to marketing, it will become a competitive advantage.

Jim Anderson is senior vice president and chief marketing officer at Starkey Mortgage, a nationally-recognized, award-winning residential mortgage company headquartered in Plano, Texas. 69

The right partner can mean the difference between growing brick by brick or by leaps and bounds. With Radian, there are no limitations to what you can achieve. With mortgage insurance at our core, and diverse solutions and technologies at your fingertips, we provide the innovation and expertise you need to build a stronger foundation for future success. Learn more today at radian.biz/thinkbigger.

CELEBRATING 40 YEARS

n National Mortgage Professional Magazine n MARCH 2017

When strength is partnered with vision, dreams come true.

NationalMortgageProfessional.com

Think Bigger.

a special focus on ITS ALL ABOUT MARKETING!

How to Get the Most Out of Leads By Josh Friend eads. To some, they are the reason for their business success, the fire that fuels their business. To others, they are a source of wasted revenue and effort. And yet, few companies can grow without effectively cultivating leads. So before you invest more dollars into creating leads, it’s important to know the different channels available to generate them, the pitfalls to avoid, and the metrics to seek. In a nutshell, there are three primary sources for leads that work well for lenders: Online leads, direct mail leads and telemarketing leads. Each one has distinct advantages and challenges.

Online leads: Not the same old “junk” Online leads have gotten a bad

reputation in the mortgage industry, and for good reason— the vast majority of them, traditionally, have been worthless. Things are improving, however. New technologies and the increasing amount of time consumers spend online have made it easier to find out when someone is interested in getting a mortgage. Refi-oriented, consumer direct lenders have been all over this trend in recent years, and it has been key to their growth. Online leads are generated either through unpaid “organic” searches, “pay-to-play” systems or through lead aggregators. The organic search An organic search is when a consumer looks for a lender online and finds your company, without your company having to pay anything for it. For a prospect to find you, however,

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

www.LykkenOnLending.com

a special focus on ITS ALL ABOUT MARK

“Keep in mind that most consumers are very aware of what mail solicitations look like. If you want them to open your mail, it has to stand out.”

you need to have a search engine optimized (SEO) Web site with great content that is relevant to what consumers are looking for. There are many companies that can improve a lender’s organic search results and increase the number of contacts made with consumers. The paid search Paid searches, or “pay-to-play,” require the lender to pay a fee to a search company to show up at or near the top of search engine results. Google is a great example. You can pay to have your ads appear if someone searches for one of your pre-identified keywords, such as “mortgage refinance.” With Google’s AdWords online advertising, you can pay as little or as much as you like. The more you pay, the more visibly your ad will be seen, higher up in search results. You can also set daily, weekly and monthly limits so that you can control your spending. With the “pay to pay” approach, it’s important to have a compelling online ad that prompts the consumer to click on it. For example, if someone searches for “refinance,” your ad could say something like, “See how much you can save with low rates.” You also need a good landing web page for this ad—one that is different to your Web site’s home page. This Web page can be short and sweet, and should include a clear call to action, such asking visitors to fill out a contact form or that encourages them to call an 800 number. Since you’re paying to get people to come to your site, getting as many people to convert into customers is the goal. It’s a good idea to test different landing pages to see how effective each is in converting the customer. Many companies make the mistake of pushing the traffic to their home

page when their home page is not set up to handle leads. Your home page may have great content, but the consumer is not likely going to be drawn to call you or to fill out a form. Lead aggregation providers are part of the pay-to-pay strategy and represent a good source of leads. Companies like Lending Tree, Lower My Bills and Zillow attract traffic to their Web sites and offer to help consumers find a great loan with one of their lending partners. These sites have well-known brands that consumers respond to. If you are working with a lesser-known lead aggregator, it’s very important to understand how they get their leads and the quality of those leads. Some get them through paid searches and organic searches, while others use e-mail blasts, which are generally less valuable. Still another method is coregistration, in which the consumer is driven to a landing page through a gimmick of some sort, such as the chance to win a free iPad. This type of lead is often of even less value, as consumers don’t always know where the search is taking them. Direct mail: Leveraging it effectively More lenders are using direct mail to generate leads and new business, but relatively few are doing so effectively. That’s because they are missing what I consider to be the five key ingredients behind a successful direct mail piece, as follows: 1. Data: Are you sending your letter to the right person? Not all data is created equally, and no direct mail campaign will work if you’re using outdated or inaccurate information. There are many different types of data, but the two main ones are invitation to apply (ITA), which usually comes from county recordings and public

ARKETING!

a special focus on

records, and pre-screened, which comes from the credit bureaus. With pre-screened data, you can select your target customer based on FICO score, payment history, loan balance, loan type and overall amount of credit. When buying data, itâ&#x20AC;&#x2122;s a good idea to use a reputable data vendor. 2. Design: Whether or not your direct mail piece gets opened depends on how well itâ&#x20AC;&#x2122;s designed. There are a lot of variables, from the decision to use a professional designer to choosing the size of the letter, colors, paper quality, type of postage, the return address and promotional language on the envelope. Keep in mind that most consumers are very aware of what mail solicitations look like. If you want them to open your mail, it has to stand out. 3. Message: What does your letter sayâ&#x20AC;&#x201D;and is it on point? For example, if you are offering cash-out refinances to someone, does your piece explain how much they could

a special focus on ITS ALL ABOUT MARKETING!

get, or mention the kinds of things they could do with the money? Are you letting FHA borrowers know they can refinance into todayâ&#x20AC;&#x2122;s lower rates without having to get an appraisal? Whatever your message, it has to match the needs of your prospects, and it needs to be relevant. 4. Offer: Your direct mail piece must say what you will do for the consumer. Are you offering a lower rate, a free appraisal, a cash-out refi? Say so, and be preciseâ&#x20AC;&#x201D;and make sure your data is correct so the right person receives the correct offer. 5. Call to action: Very simply put, what are you asking the borrower to do? Whether you want someone to call your phone number, visit a Web site or send in a form, the call to action should be very clear and easy to understand.

telemarketing vendor that forwards live calls and leads directly to you. This strategy requires special management and oversight because you will need to monitor the quality of the leads you receive. For example, many telemarketing agents are paid just for transferring calls, regardless of whether a consumer is truly interested in your product or not. If you use telemarketing to generate leads, you will want to know what script agents are using and the types of qualifying questions they are asking before transferring calls. Thereâ&#x20AC;&#x2122;s no doubt that

Telemarketing: Dialing up leads Another easy way to quickly grow your leads and contact list is to use an outside

a special

cultivating leads can be hard work and the results often seem uncertain. Itâ&#x20AC;&#x2122;s a little like rehearsing for a play, studying for a test or preparing for an athletic event. If you want to do your best, you know you should spend significant time and energy practicing. And yet, you never really know if your effort was worth it until the big event. Itâ&#x20AC;&#x2122;s the same thing with cultivating leads. Itâ&#x20AC;&#x2122;s hard to tell whether they will pay off down the road. But if youâ&#x20AC;&#x2122;re smart in your approach and monitor the results, you can tilt the odds in your favor.

Josh Friend is founder and CEO of InSellerate, a specialized customer relationship management system that enables lenders to instantly connect to leads, manage their sales team in real-time and build strong long-term customer relationships through automated marketing campaigns. He can be reached via e-mail at Josh@InSellerate.com. 71

With over 30 years of professional experience e each, our Account Executives know team has an in-depth understanding of hom me loan options, including low down payment options through our Affordable Mo ortgage Program, and specialty loans like Jumbos, loans to LLCs and Trusts (approv ved by Ridgewood Savings Bank), and non-warrantable condos. BENEFIT FROM: â&#x20AC;˘ No FICO score (unless PMI loan) â&#x20AC;˘ One appraisal (no matter the loan amount) â&#x20AC;˘ Cash-outs* up to $2.0M (no seasoning)

Bijan j Farassatt (917) 731-4870 bfarassat@ridgewoodbank.com NMLS ID#646654

Lisa Constant (516) 640-8375 lconstant@ridgewoodbank.com NMLS ID#646655

*On primary residences and second homes (LTVs apply). ly). Terms and conditions subject to change without notice. ce. Loans subject to credit cr approval.

â&#x20AC;˘ Loan amounts up to $3.5M with CLLTVs to 90%** â&#x20AC;˘ â&#x20AC;˘ Discounted rates

n National Mortgage Professional Magazine n MARCH 2017

the local markets and pride themselves on friendly, responsive service. Plus, our

NationalMortgageProfessional.com

Turning Youur Clients into Homeowners.

a special focus on ITS ALL ABOUT MARKETING!

a special focus on ITS ALL ABOUT MARK

Use Direct Mail to Drive Digital Marketing Success By Michelle B. Peel

ar from being old school, direct mail, using proven datadriven strategies and tactics, helps drive success in digital marketing campaigns. Direct mail has always been a valuable marketing tool for those in the mortgage industry. Now even more mortgage lenders are using direct mail to take advantage of its tangible, measurable, and effective benefits.

Direct mail supports the launch of the digital mortgage platform Remember the traditional, tedious, and paperwork-heavy mortgage application process of yesteryear? Today’s mortgage applicants now have an alternative option—completing the mortgage application process online.

According to Inside Mortgage Finance data, three of the top four mortgage lenders are offering digital mortgage platforms. The first lender to bring digital home loans into the mainstream was Quicken Loans Inc. Last year, they launched a major advertising campaign for their Rocket Mortgage product. In June, Bank of America introduced their Home Loan Navigator tool. Now JPMorgan Chase is getting into the game with the planned rollout of their digital mortgage product in 2018. Applicants apply online for a mortgage using the digital mortgage platform and then are able to track the application process using their mobile phone. “The digital mortgage platforms allow lenders to be where our customers are, online and on their phones. It is more

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

TO OVE ! E M I IT’S T UR M

EY K A M

JOIN A

Loan Officers, Branch Managers and Teams

GROWING TEAM

Inside & Outside Sales positions available Carrington is expanding nationwide. We are looking for experienced managers and teams to join our organization.

WE OFFER:

John Cervantes |

Great compensation and benefits Operations focused on quality & speed of closing Marketing support and lead generation Licensing and compliance support Agent co-marketing programs VOTED

RECRUITER

John.Cervantes@CarringtonMH.com

949-517-7127 Carlos Fernandez |

RECRUITER

Carlos.Fernandez@CarringtonMH.com

949-517-7204 TOP 50 BEST PLACES TO WORK

6 FHA LENDER IN THE NATION

WE ARE THE #

EQUAL OPPORTUNITY EMPLOYER

© Copyright 2007-2017 Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites110 & 200A, Anaheim, CA 92806. 800-561-4567. NMLS ID #2600. Nationwide Mortgage Licensing System (NMLS) Consumer Access website: www.nmlsconsumeraccess.org. All rights reserved.

“Earning consumer trust is the key for marketers’ success—so use the channel proven to do it!”

efficient for customers and for us,” Mike Weinbach, consumer mortgage chief of JPMorgan Chase, said in a Tech|First Post interview. The digital mortgage platform allows applicants to submit and sign documents online and exchange messages with lenders and real-estate agents, so loans can close quickly and easily. “Five years in the future, every lender is going to have a digital offering for their customers,” Weinbach said. Direct mail can support the launch of your digital mortgage platform by promoting its benefits to prospective customers. The first challenge is getting the attention of your potential applicant. This can be accomplished by adding a personalized teaser on the outer envelope such as, “John, Avoid the Paperwork. Apply Online for Your Mortgage Today!” Focus group results have proven that the feel of a card in an envelope piques the curiosity of the recipient. You can put this technique to work by affixing a card that directs your applicant to apply for a mortgage using your digital mortgage platform. Better yet, personalize the card specifically to the intended applicant and even add a

personalized URL (pURL) so they feel they are getting a special offer. This will increase Gross Response Rate (GRR) and Return-on-Marketing Investment (ROMI). You can also use direct mail to promote migration to, and use of, your digital mortgage platform. For example, highlight the toll-free customer service and “Live Chat” options on your site in your direct mail piece in case the applicant has any questions during the application process. Lenders should use direct mail for retention campaigns … it’s not just for acquisition anymore Direct mail is also effective in the customer lifecycle as a retention tool. Lifecycle marketing is based on the knowledge that existing customers spend 33 percent more on average than new customers, and that 80 percent of profits will come from just 20 percent of your customers. Acquiring a new customer is not where your marketing ends, but rather, where it really begins. Marketers across all industries are returning to direct mail for strong lifecycle marketing. According to the “2016 DMA Response Rate Report,”

ARKETING!

a special focus on

Direct mail still works in a digital world—consumers trust direct mail l “Consumers see direct mail as trustworthy and authoritative.”–Data & Marketing Association l “They [Consumers] feel more secure with direct mail because they can touch it, open it in private, and store it more easily.”–Epsilon l “More than a third of consumers named financial services and insurance as industries from which they preferred direct mail.”– Epsilon Need more proof? Here are some highlights from “The Private Life of Mail” report: 1. Consumers are placing a greater value on their mailboxes—specifically 1834 year olds. 2. Direct mail stays in the home for an average of 17 days. 3. Fifty-seven percent of people feel valued when they receive a piece of direct mail. Earning consumer trust is the key for marketers’ success—so use the channel proven to do it! For example, use an eyecatching check format such as a “pre-approved” or “prequalified” check in the dollar amount of the potential mortgage offer. Like a personalized card, the call to action is important. A phone number and Web site—even a pURL for your digital mortgage

platform—all make it quick and easy for potential applicants to get in touch, learn more about the offer, and apply for their mortgage. Lenders and direct mail campaigns are a great combination for growth and success Mortgage lenders are successfully using direct mail to grow their business and, in turn, direct mail volume in the mortgage vertical is growing as

well. In fact, direct mail volume in the mortgage vertical increased by a staggering 326.65 percent since 2010, according to Comperemedia. Last year, the mortgage vertical mailed more than 4.3 billion pieces of direct mail. Direct mail is obviously working for the mortgage vertical. Combine these recommendations into your next mortgage direct mail campaign to drive digital marketing success for your mortgage offers.

Michelle B. Peel, marketing and corporate communications manager at IWCO Direct, has more than 20 years of direct marketing industry experience. Michelle may be reached by e-mail at Michelle.Peel@IWCO.com or call (610) 562-1065. 73

NATTIONAL REVERSE MORTGAGE LENDERS ASSOCIATION T

R EVERSE

M ORTGAGES IN A T IME OF C HANGE Eastern Regional Meeting April p 3-4,, 2017 InterContinental New York Times Square New Yoork, NY

Western Regionnal Meeting May 16-17, 2017 Hyatt Regenncy Huntington Beach H Huntington Beach, CA

Reggister today at nrm mlaonline.org

n National Mortgage Professional Magazine n MARCH 2017

Direct mail helps lenders reimagine customer service According to “Marketing Trends 2017” research released by Comperemedia, mobile banking allows customers to accomplish their banking needs without entering a branch bank, challenging financial service institutions to reimagine their approach to customer service. With 46 percent of survey respondents preferring to interact with financial service institutions in person and 24 percent preferring to interact over the phone, there is still a significant desire for human interaction. Millennials agree: Nearly 25 percent of Millennial respondents stated that online chat for customer service is an essential feature. This is also considered an essential feature by wealthier consumers. Since customer-focused offerings, like access to 24hour customer service, appeal to banking customers of all ages, consider using a

“Johnson Box” in your direct mail piece to highlight your customer service toll-free number and Web site address for a “Live Chat.” Never heard of a Johnson Box? Almost 75 years ago, a direct mail copywriter named Frank Johnson wanted to make his sales letters more effective. He decided to highlight the offer in a centered rectangular box at the top of the letter. Today’s technology makes it possible for the Johnson Box to have even more impact. For instance, you can include a photo of a customer service representative to highlight the opportunity for a human connection in the digital relationship you’re building.

a special

NationalMortgageProfessional.com

customer direct mail averages a 5.3 percent response rate versus 0.6 percent for e-mail— a response rate advantage of more than 700 percent. Direct mail also provides more real estate for mortgage lenders to tell your story and make your offer to customers. Here are some examples of how to use direct mail as the basis for a lifecycle marketing campaign: Welcome packages for new banking and mortgage customers, welcome and thank you packages for participating in loyalty programs, and win back packages with incentives to win former customers back. Another effective use of direct mail to support digital marketing is the development of a trigger campaign in response to events like marriage, college, a new home, and more. You can also develop a trigger program in conjunction with activity on your mobile marketing site. When a potential applicant visits your site for information about applying for a mortgage, use it as a trigger to send a direct mail package acknowledging their interest in a mortgage with you, and providing them with multiple “easy” options to complete the application process.

a special focus on ITS ALL ABOUT MARKETING!

Make Your Advertising Budget Go Farther With Targeted TV Campaigns By David Waxman

or decades, TV has been designed to reach people in their living rooms, and the powerful medium is only growing in popularity. According to Nielsen Media Research, the average American watches 4.5 hours of television each day. Because of TV’s popularity, it’s especially powerful as an advertising medium, and it’s becoming viable for all types of advertisers—both big and not so big—to costeffectively target their messages and reach large numbers of people. Approximately 60 percent of businesses advertising on TV increased their spending on TV in the past 24 months, according to a survey of small- and mediumsize businesses conducted by Decipher Inc. During that same time, advertisers’ use of certain mediums such as radio, local shopper guides and the Yellow Pages decreased by over 20 percent.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

I just watch TV At first glance, commercial airtime may appear to be dominated by national brand names, and navigating the planning and buying of airtime can be daunting. Yet, like the medium itself, TV advertising is for everyone, and local businesses, like mortgage brokers are starting to take advantage of the benefits of local TV more and more. The key is to tap into the power and affordability of TV airtime by buying ads that zero in on your target demographic and target geographic market. TV, more than most mass-market advertising mediums, allows businesses to reach specific audiences and specific neighborhoods. There are, however, a couple of points to keep in mind before launching your campaign: You should be prepared to spend at least $1,000 on airtime for a smaller market and as much as $10,000 for a larger market in order to run an effective

campaign. Additionally, since TV has a cumulative effect, you should be prepared to spend this amount each month for at least three months. This is the amount of time needed to begin to build awareness and credibility, and ensure that your target audience can view your ad enough times to take notice and action. Five ways to target TV ads l By demographic: Who are you selling to? What do they look like on paper? In other words, what’s their general income level, age and educational background? Do they rent or own? You may want to advertise on a hip new cable channel, but it won’t do any good if the audience is made up of 15-to-25 year olds. Fortunately, you never have to guess what sort of person your ad will reach. Ad agencies, cable companies and network affiliates can provide data on their viewing audiences. Just make sure you take a close look at them. l By channel: TV allows you to attach your company’s brand to major media brands that are trusted sources of information or entertainment. If, as a mortgage professional, you regularly advertise locally on HGTV, those viewers—people who invest in their homes and follow the real estate market— will begin to link your company to HGTV. You, by association, are seen as a company that “gets” the housing market and you become a part of the larger HGTV universe that viewers occupy each night. l By geography: Buying habits and taste vary, often dramatically, from city to city or—in major urban centers— from neighborhood to neighborhood. Urban dwellers may be interested in hearing about a new condo project downtown, while their suburban counterparts may be intrigued by two-acre lots. There’s no need to broadcast your ad to an entire market.

a special focus on ITS ALL ABOUT MAR

Spend some time narrowing your ad’s coverage area, picking your spots and maximizing your TV budget. With cable TV, you can “geotarget” your ad to only reach viewers located in a small geographic area such as a single neighborhood. l By time of day: Potential customers may never find time to watch the noon news, since most are working at that time. But they may watch the 10:00 p.m. news every night and be asleep well before midnight— despite the popularity of latenight talk shows. Think for a moment about your target customer. Generally speaking, when are they watching TV? l By time of week: Most people probably don’t get in their cars and go looking for a new home or office on weeknights. So airing a prime time spot on a weeknight probably won’t spark any immediate action by viewers. But run the same ad on Saturday night during a CNN broadcast and you may catch the eye of a couple in the midst of planning for a long house-hunting excursion. How to run a targetedTV ad campaign TV advertising is essentially made up of a three-part process: Commercial production, media planning and media buying. Some advertising firms can lead you through the entire process, while some specialize in only part of the process. l Traditional ad agencies: Traditional ad agencies can help you with the whole process. They help you create professional, engaging and effective ads that are appropriate for each medium. They know, from years of experience, what works, what doesn’t work and when to take a creative gamble. The downside is working with a traditional agency can be

expensive. They may charge tens or even hundreds of thousands of dollars to produce an original TV commercial for you and it can take months to get on the air. l Media-buying firms: Mediabuying firms are often staffed by former media sales reps. They try to use their insider knowledge on your behalf, particularly in negotiating prices. They essentially help you come up with an advertising game plan that may include one or several mediums. The firms generally charge you a commission— oftentimes around 15 percent—on each airtime purchase they make. This may be a good option if you have already produced a commercial and looking for someone to help you purchase your airtime, but if you don’t already have a commercial, you will need to work with a production company, which will require additional time and resources. l Do it yourself: Advertising is both an art and a science, and the do-it-yourself approach should only be taken if you have extensive experience. But if you do have the time, budget and expertise to steer the entire process, you can act as your own creative director and media buyer. Hire a production company to produce an ad that supports your vision and get in touch with your local cable provider or network affiliate to buy airtime. Negotiate the terms of your ad campaign and devise a plan the reaches your target audience. However you go about advertising, just remember that there’s an audience of people out there looking for exactly the mortgage services and—like many of us—they so happen to watch TV.

David Waxman is managing partner of TenOneTen Ventures, a Los Angeles-based venture firm that invests in startups that apply data and technology to disrupt existing industries.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE PRESENTS

Your Complete Success Resource for Mortgage Professional Top Performance

Need More Purchase Business? FREE 45 Minute Complimentary PURCHASE GROWTH Strategic Coaching Session with nmpU Head Coach Ron Vaimberg Go to nmpUCoaching.com TODAY to request your free session

Strategic Success Coaching • Loan Officers • Account Executives • Managers/Owners

On-Site Success Workshops

Wholesale/Correspondent AE "Win Series"

NMLS Courses POWERED BY

• Pre-Licensing • Test Prep • Continuing Education

Call Ron Vaimberg, nmpU Executive Director & Head Coach, at 888-979-NMPU (6678), Ext. 801 or E-mail RonV@MortgageNewsNetwork.com for more information on how nmpU can increase Originator, AE and Manager Performance!

Learn more at nmpUcampus.com

n National Mortgage Professional Magazine n MARCH 2017

• Win More Business From Existing Clients • Win More New Relationships • Win More Business With The Ultimate AE Presentation

NationalMortgageProfessional.com

• For MLO's Low Cost / No Cost Lead Generation Strategies • Cover More Leads To Loans • 100% Referral Based Business

MARCH 2017 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

The Case for Going Digital By John Pataky

s the shift towards digital continues to dominate many of the services in our lives–from banking to booking travel to dating–it was only a matter of time before the mortgage industry followed suit. More lenders than ever are recognizing the importance of going digital, particularly with the lens on emortgage startups over the last year. Whether that means offering more online tools, an online application and preapproval process, or offering an entirely online loan process, there are several advantages to taking the process digital for both lenders and potential homebuyers.

Compliance Following the housing crisis in 2008, there was a renewed emphasis on regulating the mortgage industry to reduce the possibility of history repeating itself. This included establishing a new government consumer protection bureau and enacting laws to protect consumers seeking home financing. While changes were implemented to ultimately increase transparency for borrowers, there remains an added layer of regulation in the mortgage process. In this era of increased regulation, the digital mortgage

Underwriting In addition to the benefits that going digital offers the application and pre-approval processes, there are also advantages to digitizing the underwriting process. Today, underwriters tend to rely on checklists to evaluate loans, a manual process that can be slow and prone to error. However, with automation technology, this process can be completed in a fraction of the time, as computers can extract the

critical data from loan documents and perform calculations to run through the checklist in minutes. By allowing a computer to perform much of the more basic parts of the underwriting process, the underwriter is able to save time and focus on the more complex situations like analyzing inconsistencies flagged by the automated system. By some accounts, this would save up to 80 percent of the time it takes to evaluate loan documents.7 Conclusion As our world continues to digitize at an incredibly fast pace, mortgage lenders should embrace the opportunities of a more digital mortgage process. Not only can digital tools help firms become more efficient, environmentally-friendly and compliant with government regulations, but they can provide an overall improved client experience. For firms without existing digital capabilities, this process towards digital may seem daunting. However, it is important to note that “going digital” doesn’t have to mean implementing an entirely online mortgage process. Lenders can leverage many of the benefits of a digital process, even if only parts of the process are shifted to a digital platform. With all of the potential benefits in mind, it’s worth it for lenders to analyze their existing loan process and determine the extent to which digital tools can facilitate it.

Footnotes 1—IRESS.com/files/8814/7609/6036/UK_IRESS_Mortgage_Efficiency_Survey_2016.pdf 2—AmericanBanker.com/News/Embrace-the-Digital-Mortgage-as-a-CompetitiveAdvantage 3—Zillow.com/Blog/Trends-Zillow-Group-Research-206775/ 4—Investopedia.com/Articles/Personal-Finance/011917/How-Fintech-Can-Disrupt-14tMortgage-Market.asp 5—SourceMedia.com/News/Introducing-Digital-Mortgage-2016-Innovations-in-HomeBuying-and-Lending 6—NationalMortgageNews.com/News/Secondary/More-TRID-Problems-Wary-InvestorsKicking-Back-More-Mortgages-1068421-1.html 7—MortgageOrb.com/Expanding-the-Definition-of-Digital-Mortgage

John Pataky is executive vice president of the Consumer Division for EverBank. Pataky spent six years leading several divisions at Credit Suisse and nearly two decades with Bank of America/Barnett Bank, where he held senior leadership positions in areas, including retail banking, telephone banking, insurance services and commercial banking.

n National Mortgage Professional Magazine n MARCH 2017

Efficiency In addition to rising consumer demand, another benefit of offering an online mortgage solution is the more efficient process both for lenders and their clients. When applying for a mortgage in person, it’s not unusual for potential homebuyers to spend 90 percent of that first discussion just filling out the application, leaving only a few minutes for a substantive review of the actual financing strategy as they prepare to enter the housing market. Originators and their clients can now save time and peace of mind by initiating the loan process online. Whether this means conducting preliminary research with online tools or filling out the application online, digital offerings can greatly speed up the process. Often by utilizing online solutions, potential homebuyers can get pre-approved, and come into the loan process with a much better idea of a price range and how they will ultimately finance their purchase. Not only does this save time, but if the process calls for an in-person meeting between the lender and purchaser, it allows for a much more meaningful and productive first conversation about their upcoming home purchase. The efficiency benefits also extend to the lender’s back-office processes by decreasing physical paperwork and allowing for easy access to an applicant’s file. According to the Mortgage Bankers Association (MBA), a typical mortgage application can require over 500 pages of paperwork.5 From both an environmental and administrative perspective, there is a lot that could be improved.

can be beneficial to compliance efforts in a number of ways. First, current methods of manually collecting paper documentation and data are becoming insufficient when it comes to meeting the needs of today’s government regulators. In an age when regulators require a much larger scale of data in the reporting process, digital tools quickly become the most efficient option for lenders, particularly when the cost of noncompliance can be as steep as $1 million per day.6 By digitizing the mortgage process, lenders now have a digital log of all transactions made by both the lender and client. In addition, all client data can be stored in a single online platform and key events like application start date and delivery of loan documents can be easily captured and recorded. Overall, this allows for a much more efficient compliance effort, and adds a level of transparency and accountability to the mortgage process.

NationalMortgageProfessional.com

Consumer demand First and foremost, lenders should not ignore the rising tide of consumer demand for a techfriendly loan process, which has led an increasing number of firms to offer online tools. Though strictly online mortgage lending currently makes up a relatively small part of the distribution channel, approximately 10 percent of all mortgage sales occurred online in 2016 and technology firm IRESS predicts that this number could double in the next 18 to 24 months.1 This estimate does not include the growth in online options offered by mortgage intermediaries, which together demonstrate a significant increase in lenders with digital capabilities. Recent survey results confirm the reasoning behind this: A 2015 Consumer Financial Protection Bureau (CFPB) study found that when compared with consumers who closed a mortgage using paper documents, e-closing borrowers felt more in control, thought they understood better what was going on and found the process more efficient.2 This demand for digital mortgages will only continue to increase as Millennials enter the homebuying market in the near future. According to a recent Zillow report, Millennials make up over half of today’s homebuyers.3 As the first generation born in the digital age, it is very likely that this group will seek out lenders offering online capabilities. A recent JD Power survey found that 62 percent of respondents under 35 who bought a home this year would have used a mobile app to complete a mortgage application had it been available from their lender.4

Therefore, digital offerings should be top of mind as this group becomes the leading homebuyer demographic.

heard on the street

allow our partners to collaborate on technology, training and best practices, business development, and administrative synergies. Because the Valucentric ownership is comprised of existing valuation firms, clients are not required to make any immediate changes to company profiles or payment processes. Each regional office will continue “as is” with our outstanding teams that our clients know and trust.” Geographic expansion will continue in concert with core client needs. In addition to organic growth, Valucentric is currently finalizing partnerships with other valuation firms in Michigan, Ohio, the Carolinas, and Southern California. Require Holdings Acquires Deeds on Demand

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Require Holdings has announced that it has completed its acquisition of Deeds on Demand. Deeds on Demand is the first Internet-based deed and real estate document service designed to provide fast, accurate and integrated document preparation services. “This acquisition accelerates our objective of bringing higher value to lenders, settlement agents, and closing attorneys by providing a wider array of products and services they need to serve their clients,” said Shannon Cobb, chief operating officer of reQuire Real Estate Solutions. Deeds on Demand’s services will be merged with reQuire Real Estate Solutions LLC, a whollyowned subsidiary of Require Holdings, that services the title insurance industry. reQuire Real Estate Solutions will now provide settlement agents and closing attorneys with one-stop integrated access to document preparation, property search, title curative and lien release tracking solutions. “We are excited to join the reQuire Real Estate family and look forward to providing our clients with a broader suite of services to meet their needs,” said Ed Stockunas, business manager at Deeds on Demand.

continued from page 41

myCUmortgage Launches New Servicing Operation

In a move that will re-design the options available to credit unions for servicing first mortgage loans, myCUmortgage announced that it has launched its new mortgage servicing operation. myCUmortgage is a leading Credit Union Service Organization (CUSO), wholly-owned by WrightPatt Credit Union. “For years, our clients have asked us when we were going to take the same member-centric approach of our lending operations to the servicing arena. They wanted their loans serviced by someone who understood credit unions and their members,” said Tim Mislansky, president of myCUmortgage. “For nearly two years, we’ve built a team of mortgage servicing professionals and infused them with credit union values. We have selected great technology tools, developed member-friendly processes and procedures and performed extensive testing. By building a mortgage servicing operation, myCUmortgage can now use its member-centric approach to help credit unions service their members’ mortgage needs. “Too often, members only think of servicing when there’s a problem with their loan. We believe servicing can be re-imagined into a member-focused solution and a value-add to their credit union mortgage,” said Mislansky. “That solution is what we’re building here at myCUmortgage.” myCUmortgage will convert its existing servicing portfolio along with nearly 50 balance sheet loans from the current subservicer in May. After all existing business is converted and members are completely set up on the new platform, myCUmortgage will offer this credit union and membercentric solution to all credit unions. LenderLive to AssumePHH’s Private Label Mortgage Ops in Jacksonville

LenderLive Network LLC has announced that it has reached a definitive agreement with PHH Mortgage Corporation to assume continued on page 86

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2017

MONDAY

Master the Markets with Barry Habib

Recap of key economic events that took place over the past week and a look ahead to events that will potentially impact interest rates in the housing market. Brought to you by CALIBER HOME LOANS Wholesale Lending

Airs every Monday at 7 a.m. Gain access to an exclusive FREE TRIAL OFFER from MBS Highway for Mortgage News Network viewers, visit MBSHighway.com/mnn

MONDAY

Centurion Roundtable Interviews

Learn the secrets of success from this elite group of high volume originators. Brought to you by

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

cont ric

program

Airs every Monday at 11 a.m. For more information on PRMG, visit prmg.net/wholesale

TUESDAY

expandi

The 60 Second Originator

Over 80% of home buyers and reﬁnance consumers start their searches online. If you don’t possess the knowledge and practices required to convert loans from the internet then you need the 60 Second Originator to grow your origination. Brought to you by

every

Airs every Tuesday at 7 a.m. For more information on LoanTek visit loantek.com

TUESDAY The Mortgage Godfather The

Mortgage

Godfather

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

Airs every Tuesday at 11 a.m.

Visit MortgageNew for the industry's on-demand, 24/ for your com Daily MNN S

If you have a product or service for m

WEDNESDAY

Top Originator Secrets with Brian Sacks Closing more, making more and still enjoying life! Brought to you by

Airs every Wednesday at 11 a.m. For more information on HomeBridge Financial, visit HomeBridge.com

be a sponsor for these videos. For mo

sponsorships or Mortgage News Netw

please send an email to Info@Mortga

Beverly Bolnick, VP-Sales & Marketin she'll tell you how you can be part of

ding our

tent ch

amming

y day

or more information about these

s Network custom video productions

ortgageNewsNetwork.com or call

keting, at 516-409-5555 ext. 4 and

art of the action!

Leaders who share their knowledge for the betterment of the industry. The most n,followed and retweeted Mortgage Professionals. Brought to you by Airs every Thursday at 7 a.m. For more information on REMN Wholesale visit REMNWholesale.com

THURSDAY

40 Under 40 ProďŹ les of pioneers taking the mortgage business to the next level. An inside look at the future leaders of the mortgage industry.

Brought to you by Airs every Thursday at 11 a.m. For more information on Angel Oak Mortgage Solutions visit angeloakms.com.

FRIDAY

Compliance Matters

Lenders Compliance Group provides practical advice regarding current mortgage compliance topics. Brought to you by Airs every Friday at 7 a.m. For more information on Lenders Compliance Group, visit LendersComplianceGroup.com

FRIDAY

Inside the MBA Your bi-weekly window into whatâ&#x20AC;&#x2122;s happening at the MBA.

Airs bi-weekly on Friday at 11 a.m.

n National Mortgage Professional Magazine n MARCH 2017

for mortgage professionals you can

50 Most Connected Mortgage Professionals

NationalMortgageProfessional.com

NewsNetwork.com ry's latest topics... 24/7 and sign up omplimentary N Show Alerts.

THURSDAY

Breaking Throu

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

“For mortgage companies to compete on a grander scale, they need to pave the way with opportunities for female leaders to rise.”

ortgage Women Magazine recently published an article, “Why Female Millennials Are Forever Changing How the Mortgage Industry Does Business,” about the status of female leadership in the United States. In it, the author cited a disparity in not only the number of CEOs, but the ratio of women to men in the mortgage industry. As a female leader in a toprated mortgage lender and servicer, I believe articles like this are evidence of a conscious transformation that’s happening right now–not only in our industry,

but in a majority of business verticals. We’ve recognized that denial of bad habits is not the way to address the issue, and instead we’re opening up lines of communication. From these conversations, we’re seeing companies in the midst of a revolution–recognizing that the traditional “Good Old Boys Club” is no longer the present or the future for progressive business. For mortgage companies to compete on a grander scale, they need to pave the way with opportunities for female leaders to rise. “Inspiring change on a grand scale starts with putting the right practices into place. It starts with basic promoting and hiring

practices, as well as defining a culture that encourages success,” said Darius Mirshahzadeh, CEO of The Money Source. Here’s how companies can fuel growth with conscious practices that defy gender: l To promote the best, always look from within: Always look within the organization for promotion before considering options outside of the company. At my firm, we focus on merit alone to make decisions about who is ready to take on a greater role. This process increases the value other employees place in the company because they see equal opportunities for all to rise. Most companies have

gender-neutral hiring down, but as recent studies reveal, gender gaps tend to become more pronounced when it comes time to promote from within. Gender neutral hiring and promotion practices ensure no employee is getting promoted because they know the right person, and least of all because their gender. To keep the best at your company, you’ve got to know your team and be consciously aware of who’s ready to take your company to greater heights. As Kathy Lowry, director of servicing risk management at The Money Source, says, “good leadership knows no boundary

CFPB Makes $23 Million ugh the Boys Club Statement About Which Credit How to get it right, starting with the mortgage industry

Scores Are Sold to Consumers and How They Are Sold

BY NATALIE ABADIR-VERRETTE

By Terry W. Clemans

NationalMortgageProfessional.com

l Hire experience from the outside: The greatest companies are not afraid to hire from outside if, after taking a look at current employees, there are no internal candidates that fit the position. It’s a matter of finding and identifying the right talent that’s going to work within your company culture. There are far too many factors to weigh when considering a potential employee to even consider gender for one instant. CEO

and Entrepreneur Alan Hall has isolated “Seven C’s” to weigh when considering talent, but when it comes down to it, you want someone who is great at what they do, brings a unique skillset and is going to give your company a competitive edge. l Build a culture that fosters growth: When you build the right culture, every executive, both male and female, is going to buy into the idea that it is their responsibility to hire the best and recognize accomplishments within the company. Focus on creating an environment that gives employees what they need to

lead and grow. Our executives take it upon themselves to mentor employees, establish career paths and encourage professional development. When it comes down to fostering the right environment for women to excel in the mortgage industry, or any area of business, a number or a ratio at the end of a year’s

performance means nothing. Invest the time and energy into building the right hiring and promoting programs. Believe in the women and men who dramatically contribute to your company’s success. When you’re competing among countless others … don’t you want to be number one?

Natalie Abadir-Verrette is executive vice president of production at The Money Source, a nationwide lender and loan servicer based in New York. The Money Source has been recognized as a Stevie Awards ‘Great Employer,’ and taken top honors in the San Francisco Business Times’ and Silicon Valley Business Journal’s “Best Places to Work” Awards.

n National Mortgage Professional Magazine n MARCH 2017

of gender or race.” There is no glass ceiling and no limitations when promotion is based on talent and work ethic.

NMP’s

ack in 1851, business partners Samuel Northrup and Amos Starr Cooke opened a general store in the Kingdom of Hawaii—and little did they imagine that their modest retail start-up in a distant Pacific Ocean realm would blossom over the decades into a major player in the Hawaiian agricultural industry and later spin off into a real estate entity with a significant presence in the mainland United States. Today’s Castle & Cooke Mortgage LLC was first established in 2005. Within four years of its start-up, the company won the prestigious Merrill Lynch Outstanding Business Award. National Mortgage Professional Magazine spoke with Adam Thorpe, the company’s president and chief operating officer, on the current state of mortgage banking and the challenges facing the industry and his company.

What makes Castle & Cooke Mortgage different from its competitors? The biggest differences are our

culture and our commitment to excellence. We have employees who have joined us from competitors and they have been surprised at the way we take ownership and proactively manage our platform in order to meet the needs of both loan originators and customers. Many competitors only offer a few of the tools and resources we provide. What are the qualities that can only be found with your company? First and foremost, access to all levels of management. If someone has any concerns, they are resolved quickly and efficiently. We also have 24-hour average underwriting turn times, with no deviation. Whereas, many of our competitors measure underwriting in terms of days or weeks. We also provide company-paid loan officer assistants, a robust marketing platform and a dedicated team of individuals supporting marketing initiatives. We carefully track customer feedback and the customer experience, and relay this information back to our sales staff

regularly. By providing this input to individuals at the branch levels, they can really drill in and see what is working well, while also identifying potential shortcomings. What does the company look for in potential employees? I firmly believe that success in any organization starts with the people at the organization. We look for extremely qualified individuals who would be a good fit for our company and who will embrace our commitment to excellence. When we hire people new to the industry, we provide a great deal of training to help them get started. We have a program that pairs loan officer assistants with high-producing loan officers. The assistants work with these mentors to learn the industry and processes and reach their full potential. What is your forecast for the industry now that interest rates have finally begun to rise? From a refinance perspective, volume is going to be under pressure. There are projections that refinancing will be off by 40 to

50 percent, which is in line with what I expect. We were never heavy into the refinancing sector and considering where the market is now, I think that was a good thing for us. The purchase market, however, will be more of a force and volume is expected to rise by 10 to 15 percent. There has been data from around the country suggesting that affordable housing is becoming more elusive to locate. In your opinion, what can be done to ensure greater housing affordability? The industry needs to catch up with inventory. A lot of what we see regarding price appreciation is due to a shortage of inventory. We could also see changes to the loan programs that would make them more affordable for first-time homebuyers. There has been a great deal of talk over the past year on Millennials–or, to be more specific, the lack of Millennials as homeowners. What can be done to bring these younger

Legends of Lending By Phil Hall

people into the world of homeownership? The biggest barrier to Millennials becoming homeowners is the broader economy. The economy has had a long and slow recovery since the 2006-2007 meltdown. As the economy improves and wages increases, Millennials will enter the housing market. However, in many markets the supply is so tight. Again, the industry should do something about supply. Also, we need to focus on education. There was a lot of negative press about the concept of homeownership surrounding the mortgage meltdown. We need to show the broader benefits of homeownership, which will encourage Millennials to embrace homeownership. How has TRID impacted your company’s operations? We’ve had a couple of days added to our turn-times for closing loans due to TRID. And TRID did cause a little bit of turmoil when it was first put into place. But now, we’re handling it very well. We’ve adapted our system to meet these

requirements and are easily navigating through the process. What are some of your company’s current marketing strategies, and how are you approaching social media? Castle & Cooke Mortgage has a large footprint, with branches in many different markets, so there is no one-size-fits-all approach to marketing. We provide tools for loan officers to help them with what works best in their specific markets. We’ve also developed a suite of resources to help loan originators stay top-of-mind, including co-branded marketing materials for their use. On the social media front, we have a dedicated team of marketing professionals focused on that. We have several mobile applications and we recently launched a chat bot on our Facebook page that allows loan officers to answer questions and field inquiries from borrowers. What do you see as the nearterm future for the housing market? Given where we are with interest

“I firmly believe that success in any organization starts with the people at the organization. We look for extremely qualified individuals who would be a good fit for our company and who will embrace our commitment to excellence.” Adam Thorpe, President and Chief Operating Officer, Castle & Cooke Mortgage LLC

rates, I see the purchase market becoming stronger. But as I said earlier, we should get more supply into many markets. Hopefully, we can see more home start-ups, especially for entry-level housing. As the economy improves, that will lead to increasing populations in the nation’s growing cities. In Salt Lake City, where we are headquartered, our population is expected to double in the next 20 years. And a lot of that strength will flow into the housing market. As long as mortgages remain relatively affordable, the housing markets in these cities will grow.

What do you see as Castle & Cooke Mortgage’s greatest challenges for 2017? That is a great question. Our biggest challenge is our company’s growth and expansion as we seek to locate like-minded individuals committed to our core values and delivering excellence in everything we do. If Castle & Cooke Mortgage could be described in a single word, what would that word be? I would say, “Excellence.” After all, you live and die by the quality of the people you bring in.

Phil Hall is managing editor of National Mortgage Professional Magazine. He may be reached by e-mail at PhilH@NMPMediaCorp.com.

heard on the street

its private label fulfillment operations in Jacksonville, Fla. In late 2016, PHH announced that it would exit the private label fulfillment business, and this agreement is expected to facilitate a smooth transition for both PHH employees and clients. All the appropriate parties, including the board of directors of PHH and LenderLive, have approved the agreement. The deal is expected to close by the end of the first quarter of 2017, as it is

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

continued from page 78

subject to certain regulatory requirements. At that time, the transitioning associates will become LenderLive employees and the operations center in Jacksonville will be rebranded as LenderLive. Under the agreement, PHH will outsource loan processing, underwriting and closing activities to LenderLive until the contracts with its current clients served out of Jacksonville have been transitioned and/or completed.

LenderLive has agreed to service these accounts from the operations center in Jacksonville and to hire approximately 250 to 300 employees of PHH to work out of that location. Over the course of 2017, it is the intention to transition the clients requiring outsourced fulfillment services to LenderLive, the company said. In addition, the Jacksonville operations center, which is capable of supporting nearly 700 employees, will provide LenderLive the opportunity to expand its operations to meet the significant demand for services from LenderLive’s current and future clients.

“We are excited about the opportunity of adding a significant number of talented mortgage professionals and establishing a new operations center for LenderLive in Jacksonville,” said Rick Seehausen, chief executive officer of LenderLive. “The arrangement accelerates our longstated imperative of driving scale and operating leverage in our private label Mortgage Solutions business. We look forward to welcoming our new associates and demonstrating the benefits of our platform and business model to PHH clients. This is a win-win for everyone involved.” Mortgage Professionals to Watch l HomeBridge Financial Services has opened a new retail branch location in Oklahoma City, to be led by Clay Hopkins, an Oklahoma City housing industry veteran. l Christina Baker has joined Academy Mortgage as executive vice president of Operations, where she will oversee credit, project management, and all field and home office operations. l Sierra Pacific Mortgage has announced that Al Crisanty has joined the company as a wholesale sales manager. Based out of the corporate office in Folsom, Calif., Crisanty’s focus will be on growing the company’s presence in the Southwest and Midwest by expanding the Account Executive Sales Team as the company continues to build its nationwide presence. l Pamela Steele Parker has joined Mortgage Network Inc. as a senior loan officer in the company’s Wellesley, Mass. Office, serving customers in Massachusetts, New Hampshire and Rhode Island. l KeyBank has selected mortgage veteran Colleen G. Bara to drive the bank’s growing residential mortgage business, joining KeyBank from Bank of America. She will report to Mark R. Danahy, president of KeyBank Mortgage. l Michigan Mutual has named Greg Campbell director of its Wholesale Lending Division, where he will be responsible for supporting the existing national sales team as well as expanding the company’s national footprint. l Mortgage Network has announced that Christina Taraborelli has joined the company as a loan officer in the company’s Conshohocken, Penn. continued on page 88

n National Mortgage Professional Magazine n MARCH 2017

See product guideliness for program restrictions. This is a business-to-b business communication provided for use by mo ortgage professionals only and is not intended fo or distribution to consumers or other third parties s. It is not an advertisement; as such term is +*)(*+'&('%*$#&"('!'! ! '" ' * #&"(' ' "+ $#'&( " #&"('& ' *$#'#"'$ ( *' &# " #'("#&$* ' " * &+ *' " * *'& ' '+& & &"('" ' " * &+ *' &( ($& '%* &$* ' ($ ' %' ! ' ' " * &+ *' &( ($& '%* &$* ' ($ 'All rights reserved.

NationalMortgageProfessional.com

heard on the street

branch office, where she will be responsible for serving the home financing needs of buyers and homeowners in Philadelphia and surrounding suburbs. l Angel Oak Mortgage Solutions recently added four new executives to its leadership team, as Al Stanley was hired as chief information officer, Steven Winokur as chief marketing officer, Nick Mantia as VP of training, and Matt Henson as chief human

continued from page 86

resources officer. Angel Oak has already added four additional account executives, with Aron Thielen joining the company in Minnesota, Ryan Burchfield in Northern California, and both Ralphael Wilson and Martin Espitia in Texas. l Paramount Residential Mortgage Group Inc. (PRMG) has announced the hiring of Gary Malis as senior partner and chief strategy and capital markets officer.

l Global DMS has announced that Julie Bussey has joined the company as national accounts director, where she will play an instrumental role in introducing Global DMS’ suite of automated valuation management technology solutions to the mortgage lending industry. l Castle & Cooke Mortgage LLC has announced that Lance Culp has joined the company’s Greenwood, Ind., branch. With 14 years of mortgage industry experience, Culp brings to Castle & Cooke Mortgage a vast knowledge of new construction

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

financing and established relationships with some of the largest builders in the greater Indianapolis market. Castle & Cooke has also announced that mortgage sales veteran Jaeson Morris and three members of his sales team have joined the company’s Brentwood, Tenn. office. Morris will serve as branch manager, in tandem with current Branch Manager Rodney Jones. Inlanta Mortgage has announced the addition of Brian Jensen, regional vice president of Business Development. The American Land Title Association (ALTA) has announced the appointment of Elizabeth Blosser as its new director of grassroots and state government affairs. Draper and Kramer Mortgage Corporation celebrated the grand opening of its new Franklin, Mass., helmed by Branch Manager Michael Dunsky, a 28-year mortgage industry veteran who joined Draper and Kramer in late 2016 as the company’s first New England loan officer. Dunsky is joined at the branch by two other recent additions to DKMC: Kevin Kuechler, a top-producing senior loan officer; and Maria Cabrera, sales coordinator and office manager. The office is expected to house approximately 14 employees once fully staffed. Ben Fox will lead the new Tysons Corner, Va. office of George Mason Mortgage, a subsidiary of Cardinal Bank, as branch manager. NewLeaf Wholesale has announced the addition of 35-year industry veteran Tom Conklin to lead the Sales Division in national growth and recruitment in expanding markets. Summit Funding has announced that Ron Kuhn will join the Summit Funding team as senior loan officer.

Your turn National Mortgage Professional Magazine invites its readers to submit any information, events, passages, promotions, personal or professional occurrences that seem appropriate and/or other pertinent data to the attention of: Heard on the Street/Mortgage Professionals to Watch column Phone #: (516) 409-5555 E-mail: newsroom@nmpmediacorp.com Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

Make Yo our Marketing e E Easy “The accu uracy of the data and the near n e clusiv contact wit w as they ar ae a mortga age moment, a much softe from a bor tradition nal

“Being able to

really with trried resultss.”

“Every time my p rang, at the oth o was an interest e e qualified persso

“We we increa e from mt marke 50 per

Sch hedule a Free e Consu ultatio on Now 888 8-717-8980 | info@tagq quest.com | www.TagQ a Quest.com

In America i 2 015 In A 2015

2016

SEER VICE PROVIDERS ERVICE

FOR TY

Inc. 5000

Y RT

TOOP 500

MORTGAGE M MOR TTGAGE

FLUENT ST IN IAL MO

AGE PRO RTG FE S MO

–––––––

S UNDER NAL FO SIO

You ounng Gun ns 2014

n National Mortgage Professional Magazine n MARCH 2017

voicemails e added the extra magic g to increase my resp e onse rates.”

“Technolo e gy, integration and leadership.”

NationalMortgageProfessional.com

t year rcent us year.” .

Be Ready for the Millennials or Be Ready to Find a New Line I

“Shoot low boys, they’re ridin’ Shetlands.”—Lewis Grizzard nteresting quote, huh? And kind of funny, too, when you picture a bunch of big, burly cowboys coming over the hill bumbling along on little horses. Of course the message is pretty simple: Sometimes you have to adjust your strategy to win. And one group you’ll need to adjust for is coming over the proverbial hill: Millennials–those born between 1981 and 1997.

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

And yes, they’re riding Shetlands. Put more simply … they’re different. And if you understand those differences and adjust your aim, you and your bottom line will be just fine. Why adjust? For one, Millennials now outnumber the Baby Boomer generation. That makes them the single largest generation at 75.4 million strong. But even more important than their numbers is what they’re preparing for: Buying homes. According to a report from

Nielsen and the Demand Institute, Millennials will spend around $2 trillion on home purchases in the next five years. Today, there are only about 13 million Millennial households in the U.S., but by 2018, that number will rise to 22 million. Another a report from Mizuho Securities says first on their wish lists: A house first, then a car, and then retirement. And Better Homes & Gardens’ annual survey of trends in U.S. homeownership found that

Millennials are paving their own paths in homeownership based on their budgets, timeline and needs. They’re replacing bigbudget homes and expensive renovations with patience, frugality and practicality. So whatever you do, don’t dismiss Millennials. Sure, underwriting standards are stricter, but Lawrence Yun, chief economist at the National Association of Realtors (NAR), recently told USA Today that “some people could qualify for a

e of Work mortgage who don’t even try.” Yun points to FHA mortgage products that require only 3.5 percent down, just $8,750 payment toward a $250,000 mortgage, as well as interest rates near historic lows that reduce the cost of borrowing significantly over time. If you’re interested in increasing the number of loans you generate, you should be thinking about the generation of Millennials–and thinking about them a lot. Some are even saying

BY BUBBA MILLS

they’ll become known as the “The House-Buying Generation.” It’s hard to argue when you consider the stats I’ve just shared with you. So my suggestion is start now to learn all you can about Millennials, particularly how to work with them. Here are my tips: 1. Upgrade your digital world: Refresh your Web site with the latest options and extraordinarily helpful information. Drop the hard sell

and focus on what will help visitors with their mortgage needs. Also adopt an aggressive social media presence. Research shows well over 80 percent of Millennials use Facebook and the vast majority also have accounts on Twitter, Instagram and Snapchat. Make sure everything you do digitally works on mobile devices as Millennials live on digital devices. As for content, think about ways to market yourself via video. 2. Be easy to find: One word … search. Younger buyers start by searching the Internet. Money you put into search engine optimization (SEO) will likely be worth it. Also,

register on local business directories and review sites. 3. Think less about selling and more about educating: Few people like to be sold to and this is particularly true of Millennials. Instead, they want information–plenty of useful, helpful information. Remember, they grew up with information at their fingertips. They know its value and they’ll respect those who offer it freely. So forget the hard sell and spend more time listening and then educating. Because I began with a quote, I’ll end with one, from Confucius: “Those who do not think and plan long ahead will find trouble right at their door.”

Bubba Mills is CEO of Corcoran Consulting & Coaching Inc. He may be reached by phone at (800) 957-8353 or visit CorcoranCoaching.com.

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2017

outstanding

n a t i o n a l

m o r t g a g e

p r o f e s s i o n a l ’ s

o u t s t a n d i n g

p l a c e s

t o

w o r k

places to work

Freedom Mortgage Wholesale Division

REMN Wholesale

856-626-2595 www.freedommortgage.com

732-738-7100 www.remnwholesale.com

Freedom Mortgage, proud that its Fishers, IN facility was awarded a 2016 Top Workplace honor by The Indianapolis Star, is recruiting experienced top-producing Wholesale Account Executives nationwide. Interested in growing with us? Apply today!

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

Geneva Financial, LLC.

United Wholesale Mortgage

480-368-2000 www.genevafi.com

800-981-8898 www.uwm.com/careers

Geneva Financial, LLC. views our employees as our most valuable clients; and treats them as such. We pay nearly twice the national average (2.5% comp plan average), with lower rates to the borrower and great service.

Voted the #1 place to work in Metro Detroit, UWM is looking for A players to join our talented team. Our business is driven by our culture, and our people are our greatest asset. If you’re looking for the opportunity of a lifetime, apply to UWM today!

Attention Recruiters, Business Development Managers and HR Professionals national mortgage professional’s

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

outstanding places to work

We are pleased to announce a new package that will give your ﬁrm the recruiting tools to instantly shift your recruiting efforts into high gear using a multimedia, market-saturating approach. We will utilize the most successful methods that our clients have been using to ﬁnd, identify and place top talents for your company. We have designed these packages with the concept of making it less expensive to give you the ability to reach more people. NATIONAL MORTGAGE PROFESSIONAL MAGAZINE 1220 Wantagh Avenue • Wantagh, New York 11793-2202 516-409-5555 • Fax: 516-409-4600 • E-mail: advertise@NMPMediaCorp.com

NationalMortgageProfessional.com

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE’S

calendar of events

APRIL 2017 Monday-Tuesday, April 3-4 NRMLA Eastern Regional Meeting & Expo Intercontinental New York Times Square 300 West 44th Street New York, N.Y. For more information, call (202) 939-1783 or visit NRMLAOnline.org.

Thursday, April 6 NAMB on the Road Series Houston Marriott Westchase 2900 Briarpark Drive Houston, Texas For more information, call (972) 758-1151 or visit NAMB.org. Thursday-Sunday, April 6-9 National Association of Minority Mortgage Bankers of America (NAMMBA) Inaugural National Conference Atlanta Marriott Buckhead 3405 Lenox Road Northeast Atlanta, Ga. For more information, visit NAMMBA.org.

Friday-Wednesday, April 21-26 NAMB 2017 Legislative & Regulatory Conference JW Marriott Washington, D.C. 1331 Pennsylvania Avenue NW Washington, D.C. For more information, visit NAMB.org.

Tuesday, May 16 New York Association of Mortgage Brokers (NYAMB) 29th Annual Wholesale Conference & Trade Show The Mansion on Broadway 139 North Broadway White Plains, N.Y. For more information, call (914) 315-6644 or visit NYAMB.org. Tuesday-Wednesday, May 16-17 2017 NRMLA Western Regional Meeting & Expo Hyatt Regency Huntington Beach Resort & Spa 21500 Pacific Coast Highway Huntington Beach, Calif. For more information, call (202) 939-1783 or visit NRMLAOnline.org. JUNE 2017 Thursday, June 1 California Mortgage Expo Crowne Plaza Hotel & Commerce Casino 6121 Telegraph Road Commerce, Calif. For more information, call (860) 922-3441 or visit CAMortgageExpo.com. Tuesday, June 13 The Great Northwest Mortgage Expo Embassy Suites Washington Square 9000 SW Washington Square Road Tigard, Ore. For more information, call (860) 922-3441 or visit GreatNorthwestExpo.com.

Tuesday, September 19 Colorado Mortgage Summit Denver Marriott Tech Center 4900 South Syracuse Street Denver For more information, call (860) 719-1991 or visit COMortgageSummit.com.

JULY 2017 Monday-Tuesday, July 10-11 Ultimate Mortgage Expo Hotel Monteleone 214 Royal Street New Orleans For more information, call (860) 922-3441 or visit UltimateMortgageExpo.com.

OCTOBER 2017 Friday-Monday, October 13-16 NAMB National 2017 Rio Las Vegas 3700 West Flamingo Road Las Vegas For more information, visit NAMB.org.

AUGUST 2017 Monday-Tuesday, August 7-8 California Association of Mortgage Professionals Presents Summer CAMP 2017 Coronado Island Marriott 2000 2nd Street Coronado, Calif. For more information, call (916) 448-8236 or visit TheCAMPSite.org. Thursday-Friday, August 17-18 Mortgage Star Conference for Women Planet Hollywood Las Vegas Resort & Casino 3667 Las Vegas Boulevard South Las Vegas For more information, call (860) 922-3441 or visit MortgageStar.biz. Friday-Sunday, August 18-20 Originator Connect Planet Hollywood Las Vegas Resort & Casino 3667 Las Vegas Boulevard South Las Vegas For more information, call (860) 922-3441 or visit OriginatorConnect.com.

Sunday-Wednesday, October 22-25 Mortgage Bankers Association 2017 Annual Conference & Trade Show Colorado Convention Center 700 14th Street Denver For more information, visit MBA.org. NOVEMBER 2017 Monday-Wednesday, November 13-15 2017 NRMLA Annual Meeting & Expo The Palace Hotel 2 New Montgomery Street San Francisco, Calif. For more information, call (202) 939-1783 or visit NRMLAOnline.org. DECEMBER 2017 Tuesday, December 5 2017 California Holiday Networking Party The Atrium Hotel 18700 Macarthur Boulevard Irvine, Calif. For more information, call (516) 409-5555.

SEPTEMBER 2017 Wednesday, September 6 Texas Mortgage Roundup–Dallas DoubleTree by Hilton Dallas Near the Galleria 4099 Valley View Lane • Dallas For more information, call (860) 922-3441 or visit TXMortgageRoundup.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 newsroom@nmpmediacorp.com. *Looking for additional exposure at key industry events? Call 516.409.5555, ext. 4 to discover how to maximize your event coverage.

n National Mortgage Professional Magazine n MARCH 2017

Thursday, April 20 26th Annual Rocky Mountain Mortgage Lenders Expo Sports Authority Field at Mile High 1701 Bryant Street Denver, Colo. For more information, call (303) 773-9565 or visit CMLA.com.

Thursday, May 11 New York Mortgage Expo Hilton Long Island/Huntington 598 NY-110 Melville, N.Y. For more information, call (860) 922-3441 or visit NYMortgageExpo.com.

Thursday, June 15 Mortgage Bankers Association of New York’s 2017 Annual Strategic Real Estate & Lending Summit The Stewart Hotel 371 7th Avenue • New York, N.Y. For more information, call (516) 997.3707 or visit MBANY.org.

NationalMortgageProfessional.com

Monday-Tuesday, April 10-11 NAPMW Annual–The National Association of Professional Mortgage Women Luxor Casino 3900 South Las Vegas Boulevard Las Vegas, Nev. For more information, call (860) 719-1991 or visit NAPMWAnnual.com.

MAY 2017 Tuesday-Thursday, May 9-11 2017 Great River MBA Conference The Peabody Hotel 149 Union Avenue Memphis, Tenn. For more information, call (901) 321-6702 or visit GreatRiverMBA.com.

APPRAISAL MANAGEMENT COMPANY

BONDS & LICENSING

COMPLIANCE CONSULTANTS

CLASS APPRAISAL A Nationwide Appraisal Management Company

#1 RATED AMC BY NATION’S TOP LENDERS FOR PERFORMANCE

& CLIENT SATISFACTION Contact Us: nmp@classappraisal.com (866) 333-8311

The Bond Exchange www.bondedwithnamb.org (501) 224-8895 LOWEST-COST STATE MORTGAGE LICENSE BONDS Support NAMB in supporting you! Online surety bond applications, instant underwriting approval, and credit card payments administered through The Bond Exchange NAMB's exclusive partner provider for state license surety bonds. The Bond Exchange is a national surety agency specializing in servicing mortgage license bonds for thousands of mortgage professionals across the country. Low prices and fantastic service. You really can have them both at the same time!

www.classappraisal.com

APPRAISAL MANAGEMENT COMPANY

CHURCH FINANCING

LENDERS COMPLIANCE GROUP 167 West Hudson Street - Suite 200 Long Beach | NY | 11561 | (516) 442-3456 www.LendersComplianceGroup.com The first full-service, mortgage risk management firm in the country, specializing exclusively in mortgage compliance. Pioneers in outsourcing solutions for mortgage compliance. Our Compliance Team Will: Leverage your existing employees. Improve your productivity. Collaborate on projects. Make the most of your current technology. Bring innovation to your company. Be a strong cultural fit. Free you to focus on your core competencies. Give you access to world-class expertise. Lower your total operational costs.

EDUCATION

MARCH 2017 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Concord Church Finance www.concordchurchfinance.com 800-926-0399

A loan to a Church can result in an "open door" opportunity for Residential loans to Church members.

BOOTS ACROSS AMERICA TOUR 2016-2017 Beverly@BootsAcrossAmerica.org Certified Military Home Specialist Beverly Ray Frase "Training Boots on the Ground" Since 2009 • Trained 3,000 CMHS course grads • Trained for Depts of HUD, Treasury & more • 20+ years' experience in real estate & finance, military life COMING TO YOUR CITY!

AUDIT DEFENSE AND RESPONSE

MORTGAGE BROKER AND LENDER COMPLIANCE AUDIT, MLO POLICIES and UPDATES Our fees are less than the big national firms that don’t call you back. Program includes all Manuals including QC, MLO Policies and Comp Plans, AML, GLB, Social Media and Web audits, on-line training sessions, governance documents, and our audit protection plan. Available in all 50 states. We have hands-on experience with regulators and audits. No theories here; we were Bankers. If you find yourself in federal court, we can handle that as well. Contact Nelson Locke at (800) 656-4584. Or you may e-mail us at nl@lockelaw.us All inquiries will be kept strictly confidential. This is not an offer for legal services, but rather for his expert review and opinion about your particular compliance situation. All fact patterns are different so the results will vary. No guarantees are expressed or implied. Licensed by California and Federal Bar. NMLS 149450.

COMPLIANCE CONSULTANTS

BROKERS COMPLIANCE GROUP 167 West Hudson Street – Suite 200 Long Beach | NY | 11561 members@brokerscompliancegroup.com www.BrokersComplianceGroup.com Division of Lenders Compliance Group, BCG is the first and only mortgage risk management firm in the U.S. devoted to supporting the unique compliance needs of residential mortgage brokers. Leveling the Playing Field for Mortgage Brokers Low Cost Monthly Membership Includes: • Free Weekly Hotline • Access to Subject Matter Experts • Policies and Procedures • Webinars *Special Pricing* • Quality Control • Exam Readiness • Licensing • Legal Reviews

EDUCATION

HARD MONEY/PRIVATE LENDING

PUBLICATIONS

WHOLESALE LENDERS

Direct Private Money and Bridge Lender specializing in Stated Loans in CA 866-668-2663 Send Scenarios to info@CalHardMoney.com LENDING CRITERIA · Collateral: Stated 1st and 2nd position loans on N/O/O invest. properties (SFR, Condo, 1-4 units), Mixed-use, 5+ units, Retail, Industrial, Warehouse and Etc. · Fix & Flip program up to 70%-80% of the Purchase price on all types of properties · Loan amounts/Terms: $50,000 up to $5,000,000 and loans from 6 months to 10 years. · LTV: Purchases up to 70%-80% LTV; Refinances up to 60-65% LTV; 2nd Position up to 65% CLTV · BROKERS ALWAYS PROTECTED AND RATES STARTING AS LOW AS 8.50%

MARKETING

WHOLESALE LENDERS

TagQuest is a full service marketing firm created specifically for the ever changing mortgage business. We have tested and proven campaigns for FHA -VA - HARP - CONVENTIONAL loan types. TagQuest knows what it takes to generate quality leads whether through direct mail marketing, telemarketing, internet leads, data lists, tracking systems, or any combination thereof. TagQuest will brand your company, prepare targeted marketing campaigns that generate interest in your company, and most importantly, show you how to turn sales leads into repeat customers.

HomeBridge Wholesale iis a national wholesale lender offeering Conventional, G J b and dR i Loans. L W are comm mitted to providing Government, Jumbo, Renovation We ng, unique product the highest value to our clients through competitive pricin offerings, superior customer service, and state-of-the-art technology.

Now Hiring Wholesale Sales Managers/Account Executives Nationwide Please send resumes to Marketing@HomeBrridge.com

WHOLESALE LENDERS

REMN Wholesale www.remnwholesale.com 866-933-6342 REMN has FHA, USDA, 203k, VA and Conventional solutions to fit the needs of your customers. But, at REMN, our most valuable product is our people. The REMN Sales and Operations Teams give you - and your loans - the time and attention that you deserve. Even better, at REMN, same-day approvals are guaranteed.* You can rely on us to get the little, yet vital, things taken care of on time. Interested in joining our Wholesale Division? Send your resume to aerecruiting@remn.com

n National Mortgage Professional Magazine n MARCH 2017

PRIVATE FINANCING

5 Park Plaza, 10th Floor Irvine, CA 92614 www..HomeBridgeWholesale.com m

NationalMortgageProfessional.com

TagQuest www.tagquest.com 888-717-8980

MARCH 2017 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

www.BrokersComplianceGroup.com

WE Vis â&#x20AC;&#x2122;RE G it J oin RO Ang WI N elO ak. G! co m

Looking g for more?

En njoy more loans, fo for more people with non-QM M opportunities. B Benefit from the fastest growing segment in the mortgage industry by vvisiting www.AngelOakMS.com or calling 855-539-4910.

Get MORE with Angel Oak Mortgage Solutions.

ÂŠ 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 n and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public. Angel Oak Mortgage Solutions LLC is an Equal Opportunity Employer and does d not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, veteran status or other classifications protected by law. 1-11-17 HPG.