National Mortgage Professional Magazine March 2018 by ambizmedia

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NON-PRIME FULL DOC TO $2,500,000 â&#x20AC;¢ 5000-ELITE-FD - 680 Min FICO â&#x20AC;&#x201C; 5 Yrs BK, 5 Yrs Short Sale /Foreclosure up to 85% LTVâ&#x20AC;&#x201C; Starting at 4.25%* â&#x20AC;¢ 5000-NP - 600 Min FICO â&#x20AC;&#x201C; 2 Yr BK, 2 Yr Short Sale /Foreclosure up to 90% LTVâ&#x20AC;&#x201C; Starting at 5.625%* â&#x20AC;¢ 5000-RH - 500 Min FICO â&#x20AC;&#x201C; 1 Yr BK, 1 DAY Short Sale /Foreclosure up to 80% LTV â&#x20AC;&#x201C; Starting at 6.25%*

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5000-INV-PP - 640 Min FICO â&#x20AC;&#x201C; No Income/No Employment/No Reserves Up to 75% LTV â&#x20AC;&#x201C; Starting at 7.25%*

â&#x20AC;¢ 5000-INV-DTI-PP - 620 Min FICO â&#x20AC;&#x201C; No Income/No Employment/No Reserves Up to 80% LTV â&#x20AC;&#x201C; Starting at 6.875%* â&#x20AC;¢ 5000-INV-FN-PP - Foreign National Borrower â&#x20AC;&#x201C; No FICO/No Income/No Employment/No Reserves Up to 70% LTV â&#x20AC;&#x201C; Starting at 7.625%*

NEAR PRIME FULL DOC TO $2,500,000 â&#x20AC;¢ 5000-1YR TAX - 620 Min FICO â&#x20AC;&#x201C; 5 Yrs BK, 5 Yrs Short Sale /Foreclosure up to 85% LTV â&#x20AC;&#x201C; Starting at 6.00%*

FOREIGN NATIONAL FULL DOC TO $2,000,000 â&#x20AC;¢ 5000-FN - No FICO â&#x20AC;&#x201C; Income Docs up to 70% LTV â&#x20AC;&#x201C; Starting at 6.25%*

ITIN FULL DOC TO $600,000 â&#x20AC;¢ 5000-ITIN - No FICO â&#x20AC;&#x201C; Full Doc up to 90% LTV - Starting at 7.5%* !

Interest Only Option

Exceptions

Non-Warrantable Condos

1-4 Units

Wholesale-Correspondent

www.GreenBoxLoans.com (800) 600-9198 Wholesaleinfo@greenboxloans.com

Gbox Licenses: BRE#01300944, DBO# 603L516, AZ#0919899, CA#333659, CO#333659, CT#MCL-333659, DE#29707, FL#MLD886, GA#33937, ID#MBL-7961, IL#MB.6760993, LA#333659, MD#21707, MI#FL0018821, MS#333659, NJ#333659, NC#L-156181, OH#MBMB.850183.000, OK#ML010327, OR#ML-5093, PA#48972, TX#333659, &%$#"! WA#CL-333659 This information is meant for Real Estate and mortgage professionals ONLY and is not to be provided to consumers. All products are not available in all States. % % Rate, terms, and conditions are subject to change without prior notice.

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table of

N A T I O N A L

The Mortgage Godfather: Hiring Millennials and Minorities By Ralph LoVuolo Sr.

M A R C H

42 Tony’s Corner: A Message From NAMMBA Founder & CEO J. Tony Thompson III, CMB

2 0 1 8

M O R T G

V O L U

A SPECIAL FOCUS ON “DIVERSITY IN MORTGAGE LENDING”

D o

Serving a Diverse Market By Lisa Fenske ........................................66

Marketplace Diversity: Keeping Ahead of the Curve By Mark Spano ..................................................................................70

Sexual Harassment: An mPower Community Conversation By Marcia Davies ................................................................................72

Colorblind By Eric Weinstein ............................................................74

Ocwen’s Global Women’s Network Making a Real Difference ......76 Fostering Lending Diversity From the Inside Out By Ken Perry......78

Empowering Women Through Homeownership By Kelley Dingens ..............................................................................80

G O

Why Reaching the Next Generation of Latinos is Essential to Business Growth in 2018 By Miguel Narvaez ..............................82

50 NAMMBA Top 100

Recruiting and Maintaining a Diverse Workforce By Helen Brown ..................................................................................84

R C

Diversify Your Audience by Offering the Best Mortgage Solutions By Tracy Marks ................................................86

L D

Dream Weaver: Velma Bullock Is Making the “American Dream” a Reality for Low- to Moderate-Income Families in S.C. By Jackie Smith ......................................................88

M F

FEATURES

Every Non-QM Loan Tells a Compelling Story By Tom Hutchens ....8

The Elite Performer: When to Say “Yes” or “No” By Andy W. Harris, CRMS ....................................................................8

60 NMP Mortgage Professional of the Month: Laura Devlin, Production Support Manager for Third Party Originations, ResMac By Phil Hall

Recruiting, Training and Mentoring Corner: Diversity in Hiring By Dave Hershman ............................................................................10

The Results Are In! By Scott Harris ..................................................16

V I S I T Company

Web Site

O U R

A D Page

Accio Data ........................................................ www.ezcbsv.com ..........................................................68 Angel Oak Mortgage Solutions ............................ www.angeloakms.com ..............................81 & Back Cover Athas Capital Group .......................................... www.athascapital.com ....................................................5 Brokers Compliance Group.................................. www.brokerscompliancegroup.com ..................................17 Caliber Home Loans.............................................. www.caliberwholesale.com ..............................................75 CAMP .................................................................. www.thecampsite.org ......................................................41 Carrington Mortgage Services, LLC ...................... www.carringtonwholesale.com ................................9 & 74 Citadel Servicing Corporation .............................. www.citadelservicing.com ..............................................19

90 Carrington Mortgage Services Launches NonPrime Mortgage Loan Products Through Its Wholesale Channel By Rick Grant

Class Appraisal .................................................. www.classappraisal.com ................................................15 DocMagic .......................................................... www.docmagic.com ........................................................7 Flagstar Bank .................................................... www.flagstar.com/why ..................................................11 Gateway Mortgage Group, LLC ............................ www.gatewayloan.com ..................................................85 Greenbox Loans, Inc........................................... www.greenboxloans.com ..............................................IFC LoanOfficerSchool.com ...................................... www.loanofficerschool.com ............................................72

Lykken On Lending ............................................ www.lykkenonlending.com ............................................84

MBS Highway .................................................... www.mbshighway.com/MNN ..........................................65 Mortgage News Network (MNN) .......................... www.mortgagenewsnetwork.com ............................58 & 59

of contents

R T G A G E

L U M E

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

1 0

N U M B E R

Mortgage Lenders Change Lives ....................................................18

Dodd-Frank Amending Legislation in the House of Representatives By Gavin T. Ales ................................................20

NAMB Perspective ............................................................................22 The NAPMW Report: Vegas … Here We Come!!! By Cathy Kantrowitz ..........................................................................32 OrigiNation: 2018: The Year of the Broker By Andy W. Harris, CRMS ..................................................................36 Compliance Matters: Credit Transactions Involving Spouses By Jonathan Foxx, Ph.D., MBA ..........................................................40 Drilling Down on Negative Equity Issues By Pam Marron ..............44 Give Your Spring Some Bounce by Getting Prospects Off the Fence By Bubba Mills............................................................46 Size Does Matter in This Business By Brian Sacks ........................54 Retail Lending in 2018: What to Expect From Commercial Lenders By Stephen A. Sobin ......................................56 Looking for a Subservicer for Your MSRs? Do Your Homework. By Lee M. Smith ..............................................62 MBA’s Mortgage Action Alliance: A Message From MAA Chairman Gene M. Lugat ..............................................64

COLUMNS New to Market...................................................................................12 News Flash: March 2018 ...................................................................14 Heard on the Street...........................................................................38 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

NAMB+ ............................................................ www.nambplus.com ......................................................21 NAMMBA .......................................................... www.nammba.org ........................................................79 NAPMW ............................................................ www.napmw.org ....................................................35 & 87 NAWRB ............................................................ www.nawrb.com ............................................................45 New American Funding ...................................... www.newamericanfunding.com ......................................96 NMP U .............................................................. www.nmpucoaching.com ..................................43, 69 & 77 NRMLA.............................................................. www.nrmlaonline.org ....................................................86 NYC Real Estate Expo.......................................... www.nycrealestateexpo.com ..........................................82 OSI Express........................................................ www.osiexpress.com/mlslink ............................................1 Paramount Residential Mortgage Group, Inc. ...... www.prmg.net ..........................13, 73 & Inside Back Cover REMN................................................................ www.remnwholesale.com ..............................................39 Ridgewood Savings Bank .................................... www.ridgewoodbank.com ..............................................83 Silver Hill Funding ............................................ www.silverhillfunding.com ............................................71 TagQuest .......................................................... www.tagquest.com ........................................................37 The Bond Exchange............................................ www.thebondexchange.com ..........................................89 United Wholesale Mortgage ................................ www.uwm.com ......................................................48 & 49

MARCH 2018 Volume 10 • Number 3

FROM THE

publisher’s desk

The more diverse, the more powerful There is great power in diversity and readers of National Mortgage Professional Magazine 1220 Wantagh Avenue • Wantagh, NY 11793-2202 know this very well. As our companies grow, we have the opportunity to become stronger Phone: (516) 409-5555 • Fax: (516) 409-4600 by adding a diverse group of people to our teams or to become stagnant and less relevant Web site: NationalMortgageProfessional.com in a changing world. It’s an important choice and the companies that are choosing to STAFF Eric C. Peck Joel M. Berman recruit, hire, train and lend to diverse groups are winning. Editor-in-Chief Publisher - CEO (516) 409-5555, ext. 312 (516) 409-5555, ext. 310 Building a more diverse company is a goal of many CEOs, but getting that job done can ericp@mortgagenewsnetwork.com joel@mortgagenewsnetwork.com be a challenge. In this issue, we offer tips, tools and techniques to help every company Joey Arendt Beverly Bolnick become more diverse and more powerful. In all, we bring you 11 feature articles on this Art Director VP-Sales & Marketing (516) 409-5555, ext. 323 (516) 409-5555, ext. 316 important topic. joeya@mortgagenewsnetwork.com beverlyb@mortgagenewsnetwork.com Like everything we do to improve our companies, it starts with strategy. What does your Scott Koondel Phil Hall VP of Operations Managing Editor diversity strategy look like? It probably starts with the goal of building the company by (516) 409-5555, ext. 324 (516) 409-5555, ext. 312 finding more borrowers. That’s a great place to start. scottk@mortgagenewsnetwork.com philh@mortgagenewsnetwork.com For help with the strategic side of things, we turn to By Mark Spano, Chief Financial Richard Zyta Francine Miller Social Media Ambassador Advertising Coordinator Officer of Jet Direct Mortgage. He offers us “Marketplace Diversity: Keeping Ahead of the (516) 409-5555 (516) 409-5555, ext. 301 richardz@mortgagenewsnetwork.com francinem@mortgagenewsnetwork.com Curve.” Also, see “Diversify Your Audience by Offering the Best Mortgage Solutions,” from Rick Grant Dylan Pollock Tracy Marks, President of LenderSelect Mortgage Group. Both of these pieces start the Special Reports Editor Administrative Assistant diversity conversation off well. (570) 497-1026 (direct) (516) 409-5555, ext. 314 (516) 409-555, ext. 311 dylanp@mortgagenewsnetwork.com As soon as a company sets the goal of broadening its market, management realizes that rickg@mortgagenewsnetwork.com it must diversity its staff. For insight into how that can be accomplished, we turn to Ken ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact Perry, President and Founder of The Knowledge Coop, for his article “Fostering Lending VP-Sales & Marketing Beverly Bolnick at (516) 409-5555, ext. 316 or e-mail beverlyb@mortgageDiversity From the Inside Out.” We also offer you “Recruiting and Maintaining a Diverse newsnetwork.com. Workforce,” from Helen Brown, Director of Human Resources at Inlanta Mortgage Inc. ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck One diversity initiative that has proven incredibly successful for many companies in our at (516) 409-5555, ext. 312 or e-mail ericp@mortgagenewsnetwork.com. The deadline for submissions space involves promoting more female executive into the C-Suite. Once companies is the first of the month prior to the target issue. become more diverse in terms of gender at the highest levels, no one can understand why SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgagethey didn’t do it sooner. For those ready to recruit and promote more women, we offer a newsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. wealth of information in this issue. Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the We start with a look at Ocwen’s Global Women’s Network (OGWN). This internallyauthors alone and do not imply the opinion or endorsement of Mortgage News Network Inc., or the offigenerated profile takes a detailed look at this women’s group and the real difference it is 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) making in empowering women and encouraging diversity and inclusion. and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, and/or other state mortgage trade associations events, activTom Peters, author and consultant, has long argued that women are the primary ities and/or publications is available on a non-discriminatory basis and does not reflect the endorsement purchasers in American households. That holds true for the homebuying process. To of the product and/or services by Mortgage News Network Inc., NAMB, NAPMW, NCRA, and other state mortgage trade associations. prepare you for that, we offer “Empowering Women Through Homeownership,” from Kelley National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, and/or other state mortgage Dingens, Marketing Director for Denver-based The Colorado Real Estate Finance Group 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 Inc. 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. And, to help executives avoid mistakes here that could cost them a great deal, we bring you “Sexual Harassment: An mPower Community Conversation” By Marcia Davies, Chief Operating Officer for the Mortgage Bankers Association. Plan for the best, prepare for the worst. Ultimately, Loan Originators must position themselves to serve the needs of a more diverse client base. To help prepare for that, we offer you a number of important articles in this issue. We start with a great example in the article, “Dream Weaver: Velma Bullock is making the ‘American dream’ a reality for low- to moderate-income families in S.C.,” by Jackie Smith, Director of Public Relations for South State Bank. And we wouldn’t want to exclude the fastest-growing ethnicity in America today. So, don’t miss “Serving a Diverse Market: As the Hispanic Homebuyer Segment Continues to Grow, Lenders Must be Prepared to Meet Their Unique Needs,” from Lisa Fenske, Senior Vice President of Marketing and Communications for Waterstone Mortgage, and “Why Reaching the Next Generation of Latinos is Essential to Business Growth in 2018,” by Miguel Narvaez, Chief Production Officer and Partner for Alterra Home Loans. We’ve very proud of all the information we’ll pulled together for you in this issue of National Mortgage Professional Magazine, but there are plenty of opportunities for you to learn even more about this important topic. Start with the National Minority Mortgage Bankers of America’s CONNECT 2018 event taking place April 12-15 at the Westin Buckhead Atlanta. You can find out more about this event on the organization’s Web site, NAMMBA.org, or on Mortgage News Network, MortgageNewsNetwork.com. Even more opportunity is offered by the National Association of Professional Mortgage Women (NAPMW) at its 2018 Annual Education Conference “Unmasking Mortgage,” coming up Thursday-Friday, April 5-6, at Harrah’s Casino in Las Vegas. We’re proud to be the Official Publication for both of these events. Visit NAPMW.org for more details. That’s a lot of information to pack into a single issue, and we didn’t even touch on the compliance information, trade association news and special departments that you find in every issue of our publication. We hope it serves you well. Enjoy this issue. And don’t forget to make your plans to join us in Washington, D.C, for the NAMB Members Only 2018 Legislative & Regulatory Conference, coming up May 5-8. Visit NAMB.org for all the details on this exciting event. We hope to see you all there. Sincerely, Joel M. Berman, Publisher-CEO NMP Media Corp. Joel@MortgageNewsNetwork.com

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n National Mortgage Professional Magazine n MARCH 2018

NAMB 601 Pennsylvania Avenue NW, South Building l Washington, D.C. 20004 l Phone: (202) 434-8250 l Fax: (530) 484-2906 l Web site: NAMB.org l E-mail: Membership@NAMB.org

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

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

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

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

B O A R D

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

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

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

D I R E C T O R S

Linda McCoy, CMRS Linda.McCoy@NAMB.org

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

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

Michael DeSantis Mike.DeSantis@NAMB.org

George Burkley, CRMS George.Burkley@NAMB.org

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

Harry H. Dinham, CMC Chief Operating Ofﬁcer HDinham@NAMB.org

Olga Kucerak, CRMS Olga.Kucerak@NAMB.org

National Association of Professional Mortgage Women 345 North Main Street, Suite 313 l West Hartford, CT 06117 l Phone: (800) 827-3034 l E-mail: NAPMW1@NAPMW.org l Web site: NAPMW.org

2017-2018 NAPMW NATIONAL BOARD OF DIRECTORS

MARCH 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

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

Laurel Knight President-Elect (425) 426-2028 PresElect@NAPMW.org

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

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

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

Lynne Sparks Parliamentarian (678) 872-9000, ext. 10611 LSparks@SKWRLaw.com

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

2017-2018 BOARD OF DIRECTORS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Big Things on the Horizon for ARMCP 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.

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2018

Every Non-QM Loan Tells a Compelling Story By Tom Hutchens

MARCH 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

riginators remain skeptical when I say that non-QM loans are no less risky than agency loans and feature competitive rates.

It is true. Five years after Angel Oak pioneered home loans for people excluded from the qualified mortgage (QM) marketplace, our delinquency rates are as low or lower than agency lenders. How can that be? These borrowers have credit and income histories that fall outside conventional guidelines. We succeed by focusing on the story of each person who applies for a loan. Agency lenders must fit square pegs of narrowly defined “safe borrowers” into square holes set by standards from mortgage government-sponsored enterprises (GSE). That system has shut out millions of creditworthy people. Our underwriters manually examine each applicant’s story. We study why that person or couple is unable to secure an agency loan. Each story is different. Often, the negating credit incident or income circumstance does not impair the borrower’s current ability-to-repay. Thus, we have various loan products to assure that borrowers can secure the best terms based on credit rating, income documentation and downpayment. Consider this story of a first-time homebuyer who had been self-employed for eight years and was unable to qualify for an agency loan. Our underwriter noted that he had a perfect credit history, documented average monthly deposits of more than $14,000 for two years, always paid car loans on time, and verified monthly rent payments of $1,800 for many years. The $422,100 loan he sought would only increase his housing payment by $700 and the DTI on the mortgage would be less than 30 percent. That is the epitome of a win-win transaction. While this borrower could not qualify for an agency loan, our bank statement loan enabled him to realize the dream of homeownership. Another applicant was unable to qualify for an agency loan because she had a foreclosure on an investment property, a single vacant lot. After selling her primary residence, she wanted a $612,000 loan to purchase a new home. Despite the foreclosure, our underwriter noted her 718 credit score, perfect payment history on the previous residence, a downpayment of $83,000 and 24 months of reserves. Again, the borrower’s story made perfect sense to the underwriter. The ability-to-repay documentation affirmed a good loan for a deserving borrower. Before the age of computers, every mortgage lender listened to their borrowers’ stories and personally examined their special financial circumstances. When it comes to nonQM loans, the old-fashioned way is the only way, and it works.

Tom Hutchens is Senior Vice President of Sales and Marketing at Angel Oak Mortgage Solutions, an Atlanta-based wholesale/correspondent lender licensed in more than 35 states and operating in the non-QM space for over three years. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 539-4910 or e-mail Info@AngelOakMS.com

SPONSORED EDITORIAL

nmp news flash

continued from page 16

than $4,400 to help alleviate poverty and create a better future for families in 38 countries. “I started the donation program years ago as a way to teach my children to give back,” said Renee Spears, Rose City Mortgage Division Manager. “There is so much need in the world right now and it’s up to businesses to step up and help in any way they can. Knowing that we are making the world a better place is the reason our branch comes to work every day. We love Portland and will do everything we can to take care of it.” Rose City Mortgage held a celebration in early March to thank everyone who contributed to this achievement. During the event, the company asked their attendees to “Be the Change” and make a donation with their pocket change. It raised more than $300 for The Pongo Fund which focuses on fighting animal hunger and providing vital veterinary care throughout the low-income community, money that will bring great food and lifesaving veterinary care to animals who would be left hungry and hurting otherwise. “Rose City Mortgage’s culture of giving is the most authentic type of giving because they give from the heart in the most simple and meaningful way possible,” said Larry Chusid, Founder and Director of The Pongo Fund. “Be it one dollar or one million dollars, it all starts in the same place and that is, from the heart. Thanks to Rose City Mortgage, The Pongo Fund has helped keep 100,000 animals safe at home and out of the shelters, and that is something to celebrate.” NMLS 2.0 Debut Delayed for One Year

The Conference of State Bank Supervisors (CSBS) is postponing the launch of its Nationwide Multistate Licensing System (NMLS) 2.0 until the second quarter of 2019. NMLS was originally scheduled to debut in September, but the CSBS announced the delay due to concerns raised by industry representatives about the timing of the release ahead of the annual renewal season. “As SRR staff has monitored the progress of NMLS 2.0 development, we determined there were too many risks to being able to confidently deliver a high-quality product by September,” said CSBS Senior Vice President Tim Doyle. “As a result,

the SRR Board of Managers decided on a new target for the launch of NMLS 2.0, to be sometime in the second quarter of 2019. Over the next few months, SRR will continue working with stakeholders to prepare for a successful transition to NMLS 2.0. In addition, the target launch for the State Examination System will be adjusted based on the new NMLS 2.0 timeline.” Mortgage Balances and Debt Up in Q4 2017

Mortgage balances increased by $139 billion, or 1.6 percent, during the fourth quarter of 2017, while mortgage debt rose by $402 billion year-over-year, according to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York. The national housing debt level totaled $9.33 trillion by the end of 2017. But while mortgage debt rose, mortgage balances were 4.4 percent below the peak levels set in 2008, while some states that were severely impacted in the recession—including Arizona, California, Florida and Nevada—have balances far below their respective highs. Furthermore, the median credit score of borrowers for new mortgages dropped in the fourth quarter from 760 to 755. Mortgage debt also recorded the second lowest household debt in the household quarter, with 1.3 percent of mortgages in serious delinquency. Mortgage balances account for 71 percent of total household debt, the largest component. There were 52.7 million mortgage accounts in the fourth quarter, up from 52 million on year earlier. Your turn National Mortgage Professional Magazine invites you to submit any information on regulatory changes, legislative updates, human interest stories or any other newsworthy items pertaining to the mortgage industry to the attention of: NMP News Flash column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

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

NAMB+ is an independent, wholly-owned, for-profit marketing subsidiary of NAMB, The Association of Mortgage Professionals. Dear Mortgage Professional, Your NAMB membership connects you with information, programs and events that help you reach your personal and professional goals. But did you know that your NAMB membership can also save you time and money? This is where NAMB+ comes in. NAMB+ is the added value proposition that comes with your NAMB Membership. We have built a strong and growing network of industry-focused vendors who are committed to helping you succeed. Our carefully selected group of NAMB+ Endorsed Providers can help you with everything from commercial loans to digital and internet marketing, lead generation, credit services, social media, mobile apps, insurance, compliance and more! Let NAMB+ help you streamline the process of finding partners to help you take your business to the next level.

Additionally, in most cases, if you take advantage of the special programs and discounts available exclusively to NAMB members through NAMB+, your NAMB membership will pay for itself and then some! So, get the most out of your NAMB membership and accelerate your business by working with the amazing NAMB+ Endorsed Providers listed below. We are in business to help you grow your business! Sincerely,

Mike DeSantis President, NAMB+, Inc. mike.desantis@namb.org

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. NAMB members receive a discount off Brokers Compliance Group compliance support programs.

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. MortgageHippo Swift allows loan originators of all sizes to deliver a modern borrowing experience, significantly improve

PreApp 1003 Founded in 2015, Houstonbased PreApp 1003 was created to fill a growing need for mortgage loan originators to easily and securely prequalify mortgage prospects from the convenience of their mobile devices. Sarma gives you access to their extensive resources including: merged reports from the three top credit bureaus, CreditXpert tools, AVM Reports, SocialValidate, TRV Verification, Interface with over 30 LOS, Fannie and Freddie connection, Verification of employment/deposit and much more.

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. The Bond Exchange 21 is a national surety agency specializing in providing mortgage license bonds to thousands of mortgage professionals across the country. USA Business Lending, Inc. USA Business Lending is your complete resource for everything commercial lending. With our extensive network of funding sources and specialized loan programs, you can be sure that your clients have access to the most competitive rates and terms available on the market.

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.

NAMB PLUS 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!

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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 offers a 34% discount to NAMB Members.

MySMARTblog.com The way your prospects think has changed and that is where the massive shift occurred. At MySMARTblog.com we build a complete, dynamic and Profitable Online Presence™ in order to protect you and your valuable repeat and referral business from your competition.

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

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CalSurance® offers competitively priced Professional Liability Insurance for NAMB members. Multiple coverage options and an easy application process are available.

borrower conversions, reduce origination costs and integrate with other innovative technologies in the mortgage industry. NAMB members will receive a 25% discount.

Message From NAMB 2017-2018 President John G. Stevens, CRMS Who Is the National Association of Mortgage Brokers? I have received many calls, e-mails and texts about who the National Association of Mortgage Brokers is. Whom do they represent? Why should someone become a member of this 45-year-old association? In order to help answer these questions for everyone, please see these excerpts that I have collected from the NAMB.org Web site, as well as statistics from the 2016 NMLS Mortgage Industry report:

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l The National Association of Mortgage Brokers is the voice of the mortgage industry representing the interests of Mortgage Professionals and homebuyers since 1973. l NAMB members include small business owners, Loan Originators, Account Executives, and other industry professionals. l During 2016, the number of state-licensed mortgage companies grew 2.2 percent. The number of licensed Mortgage Loan Originators grew by 7.6 percent and the number of licenses held by MLOs grew by 19.4 percent. l Mortgage originations by state-licensed MLOs surpassed $1 trillion, up 20 percent from 2015. l Federally-registered institutions have decreased by four percent and registered MLOs grew by four percent in 2016. l NAMB is committed to promoting the highest degree of professionalism and ethical standards for its members. l In addition to mandating members adhere to a professional Code of Ethics, NAMB provides Mortgage Professionals with education opportunities, and offers rigorous certification programs to recognize members with the highest levels of professional knowledge and education. l As the leading national trade association for this industry, NAMB is affiliated with State Associations throughout the country. l NAMB represent the interests of the now 422,579 MLO’s in the United States. l NAMB’s active lobbying and advocacy efforts frequently focus on national and state issues. l NAMB also offers members a host of benefits aimed at increasing productivity and lowering business costs. l Since Mortgage Professionals participate in a large number of home loans originations, homebuyers’ interests are also important to NAMB. The association supports a consumer education and fraud reporting program with information and links available on the NAMB.org Web site. If you have any questions to who the National Association of Mortgage Brokers is, who they represent, and why you should become a member, please reach out to me. Let’s talk and grow together! Sincerely,

John G. Stevens, CRMS President of NAMB

“NAMB is committed to promoting the highest degree of professionalism and ethical standards for its members.”

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

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A Message From NAMB Government Affairs Committee Chair Christopher J. Bettis, CMC, CRMS Opportunity & a Limited Time Offer … We have the opportunity of our work lifetimes before us. Under Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney, whose term ends per statute in June, has laid out the “Strategic Plan” for the CFPB. The first two of five strategic objectives relates to the consumer. Humbly, I would agree with the CFPB that they have done a great job focusing on and protecting the consumer. The exciting part and where the opportunity comes into play is their re-commitment to industry. Here are the three objectives specific to us: l Outdated, unnecessary or unduly burdensome regulations are regularly identified and addressed in order to reduce unwarranted regulatory burdens; l Federal consumer financial law is enforced consistently in order to promote fair competition; and l Markets for consumer financial products and services operate transparently and efficiently to facilitate access and innovation. (Bureau of Consumer Protection Strategic Plan, FY 2018-2022)

Revised Informed Consumer Choice Disclosure Notice to reflect the actual conventional terms. 8. HOEPA (Section 32) was expanded from only Refinances on OwnerOccupied, to Refinance and Purchase on Owner, Second Home and Vacation Homes. Go to Purchase and Refinance Owner only. 9. Modifications to QM/ATR for Portfolio Loans. 10. Multiple FAQs and the need for clarity. Really item one fixes item 10 going forward. And this is also one of the statements by Director Mulvaney that have me so excited. The CFPB will no longer give initial guidance through action; it should occur through commentary and education. I am going to let my voice be heard. I am going to help the CFPB make the right changes. Are you going to let your voice be heard, or are you going to remain silent? Get involved today. Join NAMB. Get involved with a committee. Give to your Political Action Committee (PAC). And finally … e-mail me your ideas. We are stronger Together! Christopher J. Bettis, CMC, CRMS of Eugene, Ore.based Precision Capital is a member of the NAMB Board of Directors and Chairman of the Government Affairs Committee. He may be reached by e-mail at Chris.Bettis@NAMB.org.

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

Google is one of those companies that has changed the way we all do business today. Their technology has changed our lives and we live with having an ever-changing live encyclopedia at fingertips or voice command. I recently ran a Google Search for “Membership in Mortgage Professional Association.” Guess what professional trade association came up number one of 970,000 results? “NAMB, The National Association of Mortgage Brokers.” The same “National Association of Mortgage Brokers” that was formed in 1973 and will be celebrating its 45th anniversary. On our Web site, our Mission Statement reads as follows:

Membership in NAMB will benefit you in many ways. NAMB will keep you educated, trained and well-informed on everything happening in the mortgage origination industry. It will be the best business decision you make all year! Help NAMB protect your industry. If you look at our history and at the great opportunities and benefits that our members receive for just a $120 annual investment in membership, it’s the best $10 a month you can spend to build and protect your business and your right to work. We need more Professional Members in most of our states, especially those who can go to Washington and lobby for positive change in the mortgage industry. The political environment is at the right place to work on fixing the issues with Dodd-Frank, Loan Officer Licensing and Broker Compensation. We have politicians who are now able to make the right changes to benefit the consumer and small business owners. We have states like Florida, California, Texas and Arizona who have many state association members who do not have an NAMB membership. We need your membership, your involvement and your voice to help our industry and consumers on a national level. The

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“The Association ‘NAMB’ is committed to promoting the highest degree of professionalism and ethical standards for its members. In addition to mandating members adhere to a professional Code of Ethics, NAMB provides Mortgage Brokers with professional education opportunities, and offers rigorous certification programs to recognize members with the highest levels of professional knowledge and education.”

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When speaking with Director Mulvaney, two items in particular make me so optimistic about the opportunity before us. We literally have the chance to change our profession for the better … not reactively, like we had to when battling after Dodd-Frank and all of its unintended consequences. But we can change the profession pro-actively to help the CFPB make responsible regulatory reform. None of the professionals I know want complete de-regulation. This would harm the consumer. But unfortunately, the pendulum swung too far after the economic downturn, as the industry, and ultimately the consumer, was harmed. They were harmed through reduced access to credit and an exponentially higher cost for that credit. Well the time is today. I, for one, am going to do everything in my power to help Director Mulvaney and the CPFB effect smart change. However, knowing he is only there until June creates a tremendous urgency. In effect, “A limited time offer.” Please e-mail me, call me, get your ideas into my hands on how we can make our industry better. Do not limit yourselves. Nothing is off the table. But know that the agency is a data-driven one. So, in addition to your ideas, please send examples and any data supporting what you may have. So far here are a few of the revisions brought to NAMB: 1. Required official commentary periods (for example, post final and pre live and a look back post live). 2. The removal of lender compensation to broker company in the Three Percent Rule. 3. Eliminate the second three-day review period for refinances (three days CD, three days rescission). 4. Bona fide emergency waiver of any waiting periods for purchases (already in rule-making for refinances, example, to avoid foreclosure). 5. Loan Estimate (LE) to accurately show cash to close and monthly payments. 6. Standardization of Fees for LE/CD (example, different lenders have different APR items).

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Why Do I Need NAMB? NAMB.org … JOIN TODAY! l l l l l l l l

NAMB Testifies Before Congress NAMB Works With the CFPB NAMB Participates in Multiple Regulatory/CFPB Panels NAMB Webinars Full-Time NAMB Lobbyist on Capitol Hill NAMB Protects Your Business NAMB Forms Industry Coalitions NAMB Education

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Are You an NAMB Lending Integrity Seal of Approval Holder?

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For detailed information, visit NAMB.org.

LendingIntegrity.org Click on EARN the Seal

(No additional costs to NAMB members)

How to Apply for your National Lending Integrity Seal

NAMB members ONLY–Log in to the Lending Integrity site with your NAMB User ID and Password (If you do not know your User ID and Password, type in your e-mail and click log-in and the system will send you a password. If you have any issues, please call (202) 434-8250 or e-mail Membership@NAMB.org). Lending Integrity Requirements The Lending Integrity Seal of Approval is awarded only to mortgage originators who meet specific requirements. To earn the privilege to display the Seal, mortgage brokers and loan officers must: l Be an NAMB member l Meet the requirements of the SAFE Act l Pass a national criminal background check l Attend eight hours (or equivalent) of professional development education each year l Attend two hours (or equivalent) of ethics training every other year or each license renewal cycle l Provide professional references l Subscribe to NAMB’s Best Business Practices l Agree to NAMB’s Code of Ethics l Must be renewed annually

bottom line is we need your help to work as a big team moving our agenda for our consumers, originators and brokers and build a long-term relationship. Involvement with NAMB will set you apart from your competitors. It builds credibility and shows your clients that you are committed to your craft as a professional Mortgage Originator. Your clients will know they are working with a true professional when they see pictures of you with your Congressional representative and your reps in the Senate. You need to have your politician’s ear about the mortgage industry. Meet with them on a regular basis, and provide them with sound advice and counsel on the industry and share that with your clients. They will be impressed. It will close deals and build your credibility. It just takes five minutes to go online and join NAMB. Log on to NAMB.org. NAMB … our history is no mystery and our future is very bright! Just ask Google! George W. Burkley III, CRMS is Owner and Founder of Goshen, Ind.-based American Mortgage & Financial Services, and NAMB Director, as well as Chairman of the Membership Committee. He may be reached by e-mail at George.Burkley@NAMB.org.

NAMB Certification Committee Update By Linda McCoy, CMRS

NAMB members are a special bunch of people. I was at a NAMB conference in Las Vegas when I heard some NAMB members talking about how they were getting loans from all across the country because they had gotten their Certified Residential Mortgage Specialist (CRMS) designation which is one of the many certifications available through NAMB. Yes, that really piqued my interest. This was years ago and I came home all fired up and looked up the information on the NAMB Web site about how to obtain my certification. The site had a list of requirements that I had to meet in order to get my certification. I printed out the forms and started filling out the application. To my surprise, I met all the requirements. Then it stated you had to pass a written test at an off-site testing center. At that time, I did not know where to go to get information on what I needed to study to take the test. I called one of the NAMB Board Members to ask for help. He gave me the name of the Chair of the Certification Committee at that time. I called him and he encouraged me to go ahead and send in my application. I asked if there was something I could study that would help me. He said he thought he might still have a study guide used by NAMB previously lying around somewhere if he could find it. I was shocked when UPS showed up about two weeks later with a copy of a study book that personally belonged to this person. I had only talked to him that one time on the phone, a stranger but an NAMB member. I was very grateful … and he even paid for the overnight package for me. I studied the book from cover to cover. It had footnotes of the origin of where the material came from. I found those books and read them too because I really wanted that CRMS designation. I finally took the test and passed the first time, but only because I had help. NAMB lists its members on the Web site in alphabetical order by state. They put their members who have designations at the beginning of each state’s list. I want you to know that I have personally received those calls from all over the U.S. when people are moving to my state because I have the CRMS designation, and in return, go to NAMB.org when I hear of someone moving to another state buying a home and pass on that referral. I am very proud that I got my designation, but I am most thankful that I am part of a special bunch of people known as “NAMB members.” Linda McCoy, CMRS of Mobile, Ala.-based Mortgage Team 1 Inc. is a member of the NAMB Board of Directors, as well as NAMB Certification Committee Chair. She may be reached by e-mail at Linda.McCoy@NAMB.org.

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NAMB Events on the Horizon

NAMB Members Only 2018 Legislative & Regulatory Conference Saturday-Tuesday, May 5-8, 2018 The Mayflower Hotel I 1127 Connecticut Ave NW l Washington, D.C. Join NAMB for the Members Only 2018 Legislative & Regulatory Conference in Washington, D.C., Saturday-Tuesday, May 5-8 at the Mayflower Hotel. Join your mortgage industry peers to march on Capitol Hill and meet with your elected officials. Featuring networking opportunities, top industry speakers and the unique opportunity to walk the hallowed halls of Congress. As one of the most historic hotels in Washington, D.C., The Mayflower Hotel has welcomed locals and visitors alike into its elegantly gilded hallways and gloriously appointed spaces for nearly a century–playing host to inaugural balls and ladies who lunch, the famous and the infamous, decades of society weddings and legions of guests who just wanted to be in the center of it all. For more information, visit NAMB.org.

Schedule of events (Subject to change)

Saturday, May 5 Noon-5:00 p.m. NAMB Board Meeting 5:00 p.m.-7:00 p.m. Welcome Reception

Sunday, May 6

Noon-1:30 p.m. NAMB Conference Committee NAMB Conference Committee Chair Kimber White will discuss the role of his Committee, including the planning and organizing of official meetings, conferences and events for the association. Noon-1:30 p.m. NAMB Bylaws Committee In this closed meeting, NAMB Bylaws Committee Chair Mike DeSantis will discuss reviewing the bylaws and proposing changes as necessary to the Board of Directors. 1:30 p.m.-3:00 p.m. NAMB FHA Committee The FHA Committee reviews the policies, underwriting guidelines and activities of the Federal Housing Administration (FHA) and the U.S. Department of Housing & Urban Development (HUD). 1:30 p.m.-3:00 p.m. NAMB VA Committee NAMB VA Committee Chair Ken Bates will review the policies,

3:00 p.m.-5:00 p.m. NAMB Delegate Council Meeting NAMB’s Delegate Council, moderated by NAMB President-Elect Rick Bettencourt, is the body responsible for representing and being a forum for expressing and realizing regional interests and concerns. 6:00 p.m.-9:00 p.m. NAMB PAC Reception and State Lip Sync Contest to Benefit PAC

Monday, May 7 9:00 a.m.-5:00 p.m. NAMB Legislative & Regulatory Conference Speakers and Presentations The agenda for the NAMB Members Only 2018 Legislative & Regulatory Conference will be finalized shortly. Presently, invited guests include U.S. Secretary of Housing & Urban Development (HUD) Ben Carson, leadership from the U.S. Department of Veterans Affairs (VA), leadership from the Consumer Finance Protection Bureau (CFPB) and leadership from the State Regulatory Registry, who manages the Nationwide Mortgage Licensing System.

Tuesday, May 8 8:00 a.m.-9:30 a.m. Lobby Day Breakfast With NAMB 10:00 a.m.-5:00 p.m. Lobby With Your State on Capitol Hill 6:00 p.m.-7:00 p.m. Lobby Day Breakdown Reception

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Noon-1:30 p.m. NAMB Membership Committee NAMB Membership Committee Chair George Burkley will discuss his Committee and its responsibilities, including the implementation of an annual membership promotion campaign.

1:30 p.m.-3:00 p.m. NAMB PAC/LAF Committee Chair Wayne King will discuss NAMBPAC, the National Association of Mortgage Brokers’ voluntary, non-partisan Political Action Committee (PAC). This is the only Political Action Committee that represents the interests of Mortgage Brokers on Capitol Hill.

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10:00 am.-Noon NAMB Government Affairs Committee Meeting (will include breakfast) NAMB Government Affairs Committee Chair Chris Bettis will provide an in-depth overview of what’s happening in Washington, D.C., NAMB’s focus, and more.

underwriting guidelines and activities of the Department of Veterans Affairs (VA).

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NAMB Swarm-Phoenix

Wednesday, April 4 Kimpton Hotel Palomar I 2 East Jefferson Street I Phoenix, Ariz. Join NAMB, the Young Mortgage Professionals Association (YMPA) and National Association of Professional Mortgage Women (NAPMW) for the upcoming NAMB Swarm event, sponsored by United Wholesale Mortgage (UWM), on Wednesday, April 4 at Kimpton Hotel Palomar in Phoenix. This day-long event is filled with a variety of speakers that will provide those in attendance with great information and useful tools that you can use to help grow and improve your business! Cost for this session is only $40 per person and includes breakfast and lunch! For more information, please contact Valerie Saunders, NAMB Executive Director at (202) 434-8250 or via e-mail at valsaun@namb.org.

Schedule of events (Subject to change) 8:30 a.m. Registration begins

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9:00 a.m.-9:50 a.m. Young Mortgage Professionals: Refueling the Mortgage Industry Through Attracting, Connecting and Educating (ACE) Millennials Please join the Young Mortgage Professionals Association for a panel discussion, moderated by Ryan Kelly, Marketing and Communications Manager at Plaza Home Mortgage, covering the topic of Millennials in the workplace. Mortgage companies on a growth path need to recognize the effects Millennials are having on their workforce. Considering the fact that in a few short years, three out of every four global workers will be a Millennial, but that most mortgage employers are set up to cater to Boomer workers, how do we get Millennials to consider a career in the mortgage industry? We’ll discuss tactics on recruiting, educating and retaining Millennials. Join us to learn more about the changes your business may need to make in order to stay relevant in today’s market. Scheduled speakers include: JD Cutri, Regional Account Executive of Plaza Home Mortgage and President of YMPA; Roslyn Zankich, VP, National Account Manager of Essent MI and Affiliate of YMPA; Nate Clear, Senior Account Executive at First Funding and Member of YMPA; and Matt Coles, Sales Manager at Plaza Home Mortgage and Affiliate of YMPA. 10:00 a.m.-10:50 a.m. How to Rapidly Win Great Agent Relationships, Presented by Ron Vaimberg, President and Head Coach of NMPU In this 50-minute presentation, you will learn high impact strategies to: l Get the attention of agents in a crowded marketplace l Ask the right questions that allow you to stand out from the crowd l Overcome the most common agent objection like “I am working with another lender”, or “I only do listings” l And much more… 11:00 a.m.-12:20 p.m. A Federal Government Affairs Update, Presented by Roy DeLoach, NAMB Lobbyist Don’t miss this informative session, presented by NAMB’s Lobbyist Roy DeLoach, who will provide those in attendance with a D.C. insider’s view of what’s happening in Washington, D.C. Learn more about important bills of interest and how changes in D.C. may impact the mortgage industry. 12:30 p.m.-1:20 p.m. Jay Josephs, Owner of Josephs Appraisal Group Josephs Appraisal Group Inc. was established in 2003 by Jay A.

Josephs who is the Owner and an active working appraiser. Jay is a Certified Appraiser with more than 26 years of industry experience. Jay is also a licensed Real Estate Broker, as well as an instructor for the Department of Real Estate and teaches a CE class, “Understanding the Appraisal Process for the Real Estate Agent.” 1:30 p.m.-2:20 p.m. Taking Market Share in 2018, Presented by United Wholesale Mortgage In an industry where everyone offers the same products and good pricing is a dime a dozen, it is innovative technology and committed partnerships that will shape the ability to grow your business. Allen Beydoun, Executive Vice President of Sales at United Wholesale Mortgage, will discuss UWM’s commitment to giving business back to the broker, as well as the features and technology it has in place to help capture additional market share. Learn how the combination of game-changing technology and unrivaled client service access will get your borrowers to the closing table faster than other lenders–and how your business will pick up because of it. 2:30 p.m.-3:20 p.m. How to Succeed With Social Media, Presented by John G. Stevens, NAMB President Learn how to get the most from social media and succeed in business from John G. Stevens, NAMB President. John will show those in attendance how to maximize the tools available on the Web and grow your business by creating an effective social media strategy. 3:30 p.m.-5:00 p.m. Happy Hour With NAMB and the Arizona Association of Mortgage Professionals (AZAMP)

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NAMB Swarm-Ft. Lauderdale

Thursday, April 12 The Westin Ft. Lauderdale I 400 Corporate Drive I Ft. Lauderdale, Fla. Join NAMB, the Young Mortgage Professionals Association (YMPA) and National Association of Professional Mortgage Women (NAPMW) for the upcoming NAMB Swarm event, sponsored by United Wholesale Mortgage (UWM), on Thursday, April 12 at The Westin Ft. Lauderdale in Ft. Lauderdale, Fla. This day-long event is filled with a variety of speakers that will provide those in attendance with great information and useful tools that you can use to help grow and improve your business! Cost for this session is only $40 per person, and includes breakfast and lunch! For more information, please contact Valerie Saunders, NAMB Executive Director at (202) 434-8250 or via e-mail at valsaun@namb.org.

Schedule of events (Subject to change)

get your borrowers to the closing table faster than other lenders–and how your business will pick up because of it.

10:00 a.m.-10:50 a.m. Young Mortgage Professionals: Refueling the Mortgage Industry Through Attracting, Connecting and Educating (ACE) Millennials Please join the Young Mortgage Professionals Association for a panel discussion covering the topic of Millennials in the workplace. Mortgage companies on a growth path need to recognize the effects Millennials are having on their workforce. Considering the fact that in a few short years, three out of every four global workers will be a Millennial, but that most mortgage employers are set up to cater to Boomer workers, how do we get Millennials to consider a career in the mortgage industry? We’ll discuss tactics on recruiting, educating and retaining Millennials. Join us to learn more about the changes your business may need to make in order to stay relevant in today’s market.

2:00 p.m.-2:50 p.m. A Federal Government Affairs Update, Presented by Roy DeLoach, NAMB Lobbyist Don’t miss this informative session, presented by NAMB’s Lobbyist Roy DeLoach, who will provide those in attendance with a D.C. insider’s view of what’s happening in Washington, D.C. Learn more about important bills of interest and how changes in D.C. may impact the mortgage industry.

Noon-12:50 p.m. Lunch With Florida’s Office of Financial Regulation Join the Florida Office of Financial Regulation and learn more about the state of Florida’s mortgage industry. This session includes a discussion of audits, compliance, and a question and answer session. Don’t miss this opportunity to communicate directly with your regulator! 1:00 p.m.-1:50 p.m. Taking Market Share in 2018, Presented by United Wholesale Mortgage In an industry where everyone offers the same products and good pricing is a dime a dozen, it is innovative technology and committed partnerships that will shape the ability to grow your business. Allen Beydoun, Executive Vice President of Sales at United Wholesale Mortgage, will discuss UWM’s commitment to giving business back to the broker, as well as the features and technology it has in place to help capture additional market share. Learn how the combination of game-changing technology and unrivaled client service access will

4:00 p.m.-4:50 p.m. Happy Hour With NAMB and the Florida Association of Mortgage Professionals (FAMP)

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11:00 a.m.-11:50 a.m. Creating the Loan Officer Action Plan, Presented by Ralph LoVuolo Sr., The Mortgage Godfather Ralph LoVuolo Sr., a coach and mentor, uses his 55 years of diverse knowledge in the mortgage industry to help you see your needs and challenges, and construct a long-term positive, profitable, written, focused and attainable business and life strategy. This session includes: A Self-Valuation Questionnaire for an MLO; a Goals Form; and a Plan of Action.

3:00 p.m.-3:50 p.m. How to Succeed With Social Media, Presented by John G. Stevens, NAMB President Learn how to get the most from social media and succeed in business from John G. Stevens, NAMB President. John will show those in attendance how to maximize the tools available on the Web and grow your business by creating an effective social media strategy.

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9:30 a.m. Registration begins

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Scenes From the NAMB Focus 2018 Sales and Marketing Conference February 15-17 at the Hilton Sandestin Beach Golf Resort & Spa in Miramar Beach, Fla. Photos courtesy of ACT Appraisal/Photo credit: 4D Photography, Corey Forde

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The NAPMW Report BY CATHY KANTROWITZ

Vegas ... Here We Come!!! ith the National Association of Professional Mortgage Women (NAPMW) 2018 Annual Education Conference “Unmasking Mortgage” right around the corner, Thursday-Friday, April 5-6 at Harrah’s Casino in Las Vegas, the agenda is set and the event is sure to be one to remember. NAPMW has worked long and hard in researching its speakers and

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panelists. Our aim from the get-go was to bring the best and brightest perspectives in the industry to attendees, and judging by our list of illustrious speakers, we are right on track of achieving that goal. In addition to appearances and chats with members of your NAPMW Board and its Committees, we are pleased to present the following who will address those in attendance and impart their rich industry knowledge and wisdom with those on hand in Vegas. Here is what we have in store for you all this year …

Wednesday, April 4

11:30 a.m.-12:30 p.m. Steve Richman, Genworth, Presenting “Death by Cliché’ and Other Business Buzzwords” Steve Richman is a national speaker who has energized, taught and motivated more than 120,000 professionals in every state in the U.S. After years of success as a litigation attorney, Steve entered the mortgage and real estate profession and has become an expert in the high LTV borrower market. He has been a Loan Officer, Account Executive and Manager of a mortgage operation. Additionally, Steve has trained real estate professionals through state-accredited continuing education classes on topics including Real Estate Negotiations, Understanding the Real Estate; Contract and Making Settlement Simple.

2:00 p.m.-5:00 p.m. Registration & Exhibitor Set up 5:00 p.m.-6:00 p.m. Opening Welcome Cocktail Reception With Exhibitors

Thursday, April 5 7:00 a.m.-8:30 a.m. Breakfast With Exhibitors 8:00 a.m.-8:30 a.m. First Timers Meet & Greet 8:45 a.m.-9:00 a.m. Presentation of Colors/Veteran Recognition 9:00 a.m.-9:30 a.m. President’s Welcome With NAPMW President Cathy Kantrowitz 9:30 a.m.-9:45 a.m. Break-Expo Preview 9:45 a.m.-11:15 a.m. Keynote Speaker: Valerie Gordon, Founder of Commander-inShe, “What is the Next Chapter for Your Story?” Valerie Gordon is overseeing feature stories for ESPN, HBO Sports and CBS News among other networks. Now the Founder of Commander-in- She LLC, a communications and career strategy firm, Valerie combines her background in storytelling with her passion for the important conversations and skills women need to harness the power in their stories; and create meaningful next chapters. 11:15 a.m.-11:30 a.m. Break With Exhibitors

12:30 p.m.-1:30 p.m. Lunch With Exhibitors–Expo Open 1:30 p.m.-3:00 p.m. K. Gus Dimitrelos, Cyber Forensics 360 “Anti-Theme: Cyber Security in the Finance Industry-Anti-Malware, Anti-Hacker, AntiForensic” Showing business owners and operations the five most important tips and steps they can perform daily to verify they are protected or steps to take for protection. Gus will discuss recent attacks on financial institutions and various data breaches siting specific case studies in recent news. 3:00 p.m.-4:00 p.m. Sidebar Session: Mitigating Loan Risk With Lender-Placed Insurance Products and Services Featuring David Stidham, Angelo Adams and Tobi Libbra of the IL Group, this Sidebar Session will offer an overview of LPI, how it works, coverages and policies, and why your institution needs to be informed!

3:00 p.m.-4:00 p.m. Sidebar Session: VA Panel This VA Panel Discussion features Robin Hart from Alterra, Jackie Weedin from Wells Fargo, and Kerri Parker from Veteran’s Land Board with a Q&A session on VA purchasing, marketing and the loan process. 3:00 p.m.-4:00 p.m. Sidebar Session: MI Panel Discussion The MI Panel Discussion will feature execs from National MI, Genworth, Arch MI, Radian and Essent Mortgage, as different types of coverages will be discussed, as well as the current state of the MI marketplace. 4:00 p.m.-5:00 p.m. Sidebar Session: Under Writing ProTips Featuring Michael Whitbeck, Co-Founder of Uberwriter Tips for LOs, Processors and Underwriters, this session will help increase the number of approved loans by truly understanding ins/outs of guidelines. The session will conclude with an open Q&A. 4:00 p.m.-5:00 p.m. Sidebar Session: Compliance Discussion Featuring speaker Kimberly Lundquist of FIC, this session will cover the different areas of mortgage regulatory and compliance issues that lenders encounter daily, with real-life examples and outcomes. Includes an interactive FAQ session with attendees! 4:00 p.m.-5:00 p.m. Sidebar Session: Credit Reporting May Warrick of ACRAnet will lead an interactive discussion on understanding credit and your rights and responsibilities under the Fair Credit Reporting Act (FCRA).

Friday, April 6 8:00 a.m.-8:30 a.m. Breakfast With Exhibitors 8:30 a.m.-10:15 a.m. General Session: FNMA, FHA, HUD Panel Discussion A diverse panel of agencies will be addressing recent and upcoming changes within the mortgage industry in an interactive Q&A session with attendees. 10:15 a.m.-10:30 a.m. Break—Expo Open 10:30 a.m.-11:30 a.m. Guest Speaker: Ken Perry, President and Founder, The Knowledge Coop Since diving into the industry in 1998, Ken Perry has been a relentless innovator in the mortgage and real estate world. His company was one of the nation’s first training companies to be approved by the Nationwide Mortgage Licensing System (NMLS) to provide pre-licensing and continuing education for originators, Ken has had the opportunity to speak to hundreds of thousands of professionals throughout the country on topics including mortgage and real estate compliance, title and escrow laws, economic and industry updates and forecasts, business development and strategy, and social networking and media. Ken is madly in love with, and quite addicted to, reading laws. He researches and analyzes every law, rule and regulation he can get his hands on, and has become famous for bringing a unique, “not-what-you-expect” style of education to his clients by mixing passion and humor with extreme knowledge 11:30 a.m.-12:30 p.m. NAPMW Member Information Swap Meet

12:30 p.m.-2:00 Lunch With Tina Asher: Building and Communicating With Your Team Tina Asher, President of Asher Career Coaching will explore team dynamics and what to do to achieve optimal results. Tina will detail the 12 Driving Forces that impel people into decision-making and the history behind it; how to minimize conflicts between team members with opposing drivers and behaviors; how to approach individuals with different styles in order to become more effective in communicating, selling and managing; how our brain and body respond to stressors and conflict, and the costs associated with not managing them appropriately. You will also learn what words “not to use” and what words “to use” when speaking with various behavior styles to find common ground. See live examples of Committee and NAPMW Board Members in a team dynamic wheel with opposing styles. 2:00 p.m.-2:30 p.m. Break–Expo Open 2:30 p.m.- 4:00 p.m. National Annual Meeting 6:00 p.m.-6:45 p.m. Cocktail Mixer With Exhibitors 7:00 p.m.-11:00 p.m. Awards Gala Dinner, Mortgage Masquerade & Installation of 2018 NAPMW New Officers

Saturday, April 7 8:30 a.m.-9:30 a.m. Breakfast 9:30 a.m.-11:00 a.m. NAPMW Board Meeting 11:00 a.m.-Noon NAPMW Local Association President Training 11:00 a.m.-Noon NAPMW Local Association Treasurer Training Don’t miss out on this event. Join your peers in Vegas for an action packed agenda, and walk away with tips and tricks to take your business to the next level. For more information on the 2018 Annual Education Conference, visit NAPMW.org, e-mail NAPMW1@NAPMW.org or call (860) 719-1991. See you in Vegas!

Cathy Kantrowitz is President of the National Association of Professional Mortgage Women (NAPMW) and Mortgage Operations Manager at Quorum Federal Credit Union. She may be reached by phone at (914) 641-3842 or e-mail President@NAPMW.org.

Hiring Minorit BY RALPH LOVUOLO SR.

hat will you do when you really want to help someone? How far will you go to find the answer? How much time do you devote to answering the challenge? I go pretty far, and this month Iâ&#x20AC;&#x2122;ve been reading and reading, and asking and asking. How can we, collectively, start to attract younger people into the mortgage industry: Younger people of any ethnicity, sex, origin or background? When starting to delve into this challenge, it began as an association to help my clients, both companies and branches, establish a workbook, a pattern and a methodology that would work across all the areas mentioned above. But the more I studied, the more confusion enveloped me. I like simplicity, so Iâ&#x20AC;&#x2122;m always pretty sure that there are simple answers to complicated questions â&#x20AC;Ś to wit: E = MC2. Check these statistics out, gleaned from the Web site, LOassist.com:

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The

Mortgage

Godfather

l In the previous five years, 40 percent of the time 1824 year olds used to spend watching traditional TV has moved to other, largely digital, activities. l Forty-six percent of Internet users review social media for reviews and other information when making a purchase. l Sixty-seven percent of Twitter users are more likely to buy from brands they follow on Twitter. l Eighty percent of consumers search organizations and individual sales professionals online prior to making a purchase. l Peer-generated reviews are much more highly trusted by Millennials than

g Millennials and rities

This is not an easy question, but there is an answer

information obtained through an organization’s Web site or by “Experts” (such as real estate agents).

Meet the people you want to encounter and convince of your benefits on their ground, on the field where they feel most comfortable. This means that you cannot be asking someone to come to your office and confronting them with the facts that you think are important. More pointedly, confrontation is

colleges and speaking to the placement officers. We should be having special events at colleges for the people we want to have work with us. We should be having them teach U.S. rather than we preach to them. The world is not yet buying all their real estate on the Web, not making all their financial decisions by watching videos and listening to podcasts. There are plenty of people who want to talk to someone and we need to find them. And they need to look like all of the society that lives here.

Ralph LoVuolo Sr. has nearly 60 years history in the mortgage business. He was a Co-Founder/President of the NYAMB and a long-term member of the Board of Directors of NAMB. The Mortgage Godfather is available to help your salespeople do more business. He does sales rallies, Webinars, personal coaching. Call, text or e-mail (917) 5761230 or e-mail Ralph@MortgageGodfather.com. 35

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l Fulfill my youthful desire to help people. If I was able to obtain financing for someone to purchase a home, that was performing a good and positive act for society in general l My burning desire to complete my need to be part of the capitalist society would be accomplished by earning an acceptable income that would allow me to retire by the age of 55. So, what could be better? By the way … I wrote it down and found that piece of paper about 20 years ago.

need to do is ask them what will help them accomplish their goals. Supposedly Millennials don’t like to be told “No!” They see bosses like they were their parents who treated them like equals when they were growing up. They want the trophy even though they don’t deserve it. They go for a job interview and when they are offered the job they must call their mom to ask them what to do. They hate conflict, so negotiating is anathema to them. We should be going to

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People of a certain generation, specifically, those classified as Millennials or any minority of any kind want to be dealt with on their own level. The key to communicating what you have to offer is to make the offer in language and methodology that they accept and understand. If we try to build a relationship using the same practices that drew us into the business we have accepted, we are going to fail miserably. Recently, I was interviewed by Michael Brown, a Producer at Mortgage News Network. He was exploring my thoughts on my own entrance into the mortgage industry. It was so easy, I explained. I just wanted to be in the same business as my father. Additionally, my own political, philosophical, psychological and financial goals were easily met. I saw the mortgage industry as a way to:

not something they are used to. So, avoid that. Find out what they want, find out what they need, find out much more about them than you ever did in prior years of interviews. If you feel uncomfortable with this approach, spend time studying the general makeup of the people you want to have work with you. As an example, when I was called in to interview a staff of people, knowing there was an undercurrent of strife that existed, my approach was to never act as if my purpose was to confront. Never to act like a superior. Everyone who has a job sees a consultant as someone who is looking to find out what is wrong in a company and their job is to cut the fat, fire people and create a lean mean machine. It was natural for people to see me as that person. To eliminate that thought, I never met with anyone in a closeddoor environment, never sat on one side of a desk or table opposite to the person I was talking to. I tried to find an open area, quiet and comfortable. There is much more to understand about hiring that should be practiced and instituted that is much like sales. It takes time to accomplish your goals. We all together need to lower the average age of the salespeople, the diversity needs to look more representative of our society, both in terms of ethnicity, color and sex. But it’s going to take time. If you want to change the world, it is not going to happen overnight. And those senior people in the “C” Suite should be looking at the average age and diversity of their sales force and thinking about the long-term health of their company and their culture. I was told by a couple of people at a recent NAMB event that we need to understand better what the people we want to hire think. That’s too obvious. What we

2018: The Year of the Broker

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By Andy W. Harris, CRMS

s many are aware, I have been writing about the power of independent origination and wholesale for the past decade. While I won’t get into the analytics and my strong opinions which I believe to be supported by math and facts, no one can deny that wholesale lending is on a significant rise. The first quarter of 2018 seems to be the highest demand since the financial crisis for originators on the “employee” side to convert to the “business partner” side and embrace lender competition and choice. Margin, pricing, technology, execution, control, speed. We have never before seen the bar raised this high in wholesale and competition offering the best of all worlds with independent origination. Wholesale is the only transparent channel that requires and can provide this for the originator that embraces it. Education seems to be replacing sales and I’m personally motivated to see people excited about their careers again. The time for dictatorship and special interests seems to be coming to an end and partnership and transparency seem to be the driver today. While it will take some time for many to realize what they’ve been missing over the years, it’s no doubt the margin restriction and consumer demands will continue to grow wholesale lending. With the ability to provide more value at a lower cost to the borrower, this will produce a competitive advantage for the Mortgage Broker or employee of a Mortgage Brokerage firm versus retail lender. The biggest challenge today is awareness and access to information that most are shielded from. With the voice getting louder in wholesale–this shift a decade in the making is certainly here. Are you an originator? Send your stories! To have your 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.”

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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.

Trade Groups Unite on Diversity Efforts

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The Mortgage Bankers Association (MBA) is teaming with the National Association of Minority Mortgage Bankers of America (NAMMBA) on a formal strategic partnership to designed to promote diversity and inclusion within the industry. In this partnership, the two associations collaborate on certain conferences and meetings, as well as producing industry advocacy and research and promoting efforts aimed to further a diverse workforce, including recruitment and professional development scholarships. MBA will offer a discount to NAMMBA members on their purchases of qualified MBA products, including many MBA Education offerings. “The real estate finance industry must continue to enhance diversity and inclusion in order to retain and recruit the best workforce possible,” said David H. Stevens, President and Chief Executive Officer of the MBA. “Our industry helps individuals and families achieve the American dream; we have to make sure that dream is available to everyone, and that our workforce reflects the customer base we serve.” Tony Thompson, Founder and Chief Executive Officer of NAMMBA, said, “Forging a partnership with the MBA to promote inclusion is paramount to furthering NAMMBA’s mission to provide education and professional development to women and minorities in mortgage lending. Together,

MBA and NAMMBA can respond to the clarion call in our industry for more diversity so that we may better serve our customers no matter where they live or what they look like.” Angel Oak Companies Enjoy Record-Breaking 2017

Angel Oak Companies has announced a record-breaking year for its three affiliated lending units, Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge. In addition to growing staff and expanding geographically, the lending units surpassed $1.1 billion in nonqualified mortgage originations in 2017–the highest volume in the companies’ history. Angel Oak now sets its sights on meeting growing demand in 2018. “Our lending growth reflects a new era in mortgage credit,” said Angel Oak Companies Managing Partner and Co-Chief Executive Officer Mike Fierman. “The mortgage industry has excluded too many creditworthy borrowers for too long. However, in 2017 the industry finally started to embrace non-QM products in a big way. As we look ahead, a strong housing market and solid economic fundamentals will continue to drive demand for innovative mortgage products. The difference today is that everyone from borrowers to realtors to Wall Street now recognizes the quality of non-QM

products from Angel Oak.” Among the milestones Angel Oak’s lending units achieved in 2017: The three lending affiliates combined to originate over $1.1 billion in non-QM loans in 2017; total originations across the lending platform rose by 40 percent from the year prior, signaling growth in demand and confidence in Angel Oak’s nonQM products; Angel Oak increased the number of employees in the lending companies by 40 percent in 2017 as more borrowers sought access to mortgage credit; Angel Oak Mortgage Solutions, the wholesale mortgage affiliate, expanded by adding Account Executives in Birmingham, Seattle, Portland, Minneapolis, Columbus (OH), San Antonio, Houston, and Nashville, expanding the company’s geographic footprint to meet demand in some of the country’s hottest housing markets. They also added licenses in five additional states, bringing the total to 38. The plan is to be in 46 states by the end of 2018; Angel Oak Mortgage Solutions also established a correspondent lending channel, opening the door to potentially exponential growth as large national lenders seek access to Angel Oak’s nonQM products; National Mortgage Professional Magazine named Angel Oak Mortgage Solutions a Top Mortgage Employer for the second time; and Angel Oak Prime Bridge, the investment property lending space expert, expanded to 15 states, matching increased demand from

investors. With another seven states planned for 2018, it is primed to match its 300 percent growth in origination volume from this past year. “Our growth is the direct result of our people, who offer unparalleled experience and service to our customers. Combine that with our unique product lineup, and it’s easy to recognize why Angel Oak is the leader in the non-prime mortgage industry,” said Steven Schwalb, Managing Partner of the Angel Oak lending platform. “We believe that the non-QM market will grow from its current size of a few billion dollars per year to over $100 billion in the coming years. Angel Oak has already positioned itself as the leader in non-QM lending, but we see huge potential for future growth. We’re working every day to meet and capture that growing demand.” NAMB Names Franklin American Mortgage a Double Diamond Industry Partner

Franklin American Mortgage Company (FAMC) has announced that it will be a Double Diamond Industry Partner with NAMB for 2018. This recognition is given annually to NAMB’s top contributing partners. “It is an honor to be a NAMB Double Diamond Industry Partner,” said Andrew Taylor, FAMC’s Executive Vice President, Director of National Sales. “Franklin American Mortgage has supported the Mortgage Broker community for over 22 years and through our

Primary Residential Mortgage Inc. (PRMI) has expanded its footprint in Florida by announcing the opening of a new branch located near the Miami International Airport under the management of long-time resident and mortgage professional, Jorge Tabares. Jorge’s team has more than continued on page 41

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Credit Plus has announced that it has integrated with SimpleNexus, a leader in bringing the mortgage process to mobile devices. The integration enables Mortgage Loan Originators to obtain credit reports from

PRMI Opens New Miami Branch

MES TI

FH A ST R E

Flagstar has closed its previously announced transaction to purchase the mortgage warehouse loan portfolio from Santander Bank, including approximately $1.7 billion in mortgage warehouse loan commitments. Terms of the transaction were not disclosed, and Flagstar stated it will hire Santander’s existing relationship managers. “We’re delighted to welcome Santander’s customers and employees to Flagstar,” said Alessandro DiNello, President and Chief Executive Officer of Flagstar Bancorp. “This transaction combines two talented warehouse teams dedicated to customer service, and the biggest winner is our new, combined customer base that will now be dealing with the fourth largest warehouse lender in the country. Customers can look forward to custom-crafted solutions delivered by knowledgeable, experienced warehouse lenders.” The acquisition is expected to reduce the Company’s Tier One leverage ratio by approximately 40 basis points and should be moderately accretive to 2018 earnings. “The purchase also adds volume in an attractive asset class with good spreads and very low credit risk,” added DiNello. “It’s complementary to our existing business, bringing relationships that average around $40 million in commitments—four times larger than our existing book. While the pricing is slightly narrower than Flagstar’s book, these loans typically have approximately 50 percent longer days online and so

Credit Plus Integrates With SimpleNexus

Credit Plus through customized, mobile solutions. SimpleNexus provides private-label mobile apps that connect mortgage lenders with borrowers and real estate agents, allowing all parties to easily exchange data and documents throughout the lifecycle of a mortgage loan. “This partnership makes it easier for lenders to easily access our credit reports to make smart lending decisions. We’re excited to work with a company that is at the leadingedge of technology,” said Greg Holmes, Managing Partner at Credit Plus.

Flagstar Closes on Acquisition of Santander Mortgage Warehouse Portfolio

enhance our net interest income. We plan to add the new business to our existing platform.”

NAMB partnership we reaffirm our commitment to the Wholesale channel.” Franklin American Mortgage’s NAMB sponsorships include regional and national NAMB shows, as well as a NAMB industry partnership. These sponsorships have helped FAMC grow to become one of the top wholesale lenders in the nation.

By Jonathan Foxx, Ph.D., MBA

Credit Transactions Involving Spouses

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Question e opt to furnish information on our mortgage loan transactions. We have a few questions involving the reporting of these transactions to consumer report agencies or other creditors. What are our requirements to furnish information involving spouse? Are we required to maintain files in a certain manner? Do we have to keep separate files for each participant to a joint account? Also, what information is furnished when the spouse assumes the mortgage loan?

Answer Under the Equal Credit Opportunity Act (ECOA), creditors are not required to furnish information to the consumer reporting agencies or other creditors, although creditors may be subject to other requirements under which they must furnish information on consumers to consumer reporting agencies.1 When a creditor furnishes

credit information to consumer reporting agencies or other creditors, the creditor must designate: 1. Any new account to reflect the participation of both spouses if the applicant’s spouse is permitted to use or is contractually liable on the account (other than as a guarantor, surety, endorser, or similar party); and 2. Any existing account to reflect such participation, within ninety days after receiving a written request to do so from one of the spouses.2 With respect to maintaining files, the creditor is not required to create or maintain separate files in the name of each participant on a joint or user account, nor is it required to maintain any other, particular system of recordkeeping or indexing. ECOA requires only that a creditor be able to report information on consumer accounts in the name of each spouse. If a creditor receives a credit inquiry about a wife, the creditor should be able to locate

her credit file without asking the husband’s name.3 Regarding the spouse assuming the mortgage, when new parties who are spouses undertake a legal obligation on an account, as with the

assumption of a mortgage loan, the creditor should change the designation on the account to reflect the new parties and must furnish subsequent credit information on the account in the new names.4

Footnotes 1—12 2—12 3—12 4—12

CFR CFR CFR CFR

Supplement I to Part 202, Official Staff Interpretations §202.10-1. §202.10(a). Supplement to Part 202, Office Staff Interpretations §202.10-4. Supplement I to Part 202, Official Staff Interpretations §202.10(a)-1.

Jonathan Foxx, Ph.D., MBA, is the Managing Director of Lenders Compliance Group, the first and only full-service, mortgage risk management firm in the United States, specializing exclusively in outsourced mortgage compliance and offering a suite of services in residential mortgage banking for banks and non-banks. Information contained in this article is not intended to be and is not a source of legal advice. If you would like to contribute a question, please submit it to Compliance@LendersComplianceGroup.com.

heard on the street

corporate debt. The companies did not announce the specifics of PHH’s absorption into Ocwen and whether there would be layoffs or nationally recognized mortgage office closures as a result of the lender than can provide the transaction. experience, service and platform “We are pleased to have to grow and help my clients,” reached an agreement with Ocwen, Tabares said. “There are so many and we look forward to working loan programs out there to with them to bring this transaction support home buyers and most to a successful close,” said Robert people have no idea they exist. B. Crowl, President and Chief My team provides excellent Executive Officer at Mount Laurel, service, and we care about these N.J.-based PHH “We are excited people and families deciding to by the opportunity to build a enlist us to represent them with stronger combined company for such an important decision.” our servicing and subservicing clients, our borrowers and our Ocwen Acquires PHH employees.” Mortgage for $360M Ron Faris, President and Chief Ocwen Financial Executive Officer of West Palm Corporation has Beach, Fla.-based Ocwen, said, announced that it “PHH is a high-quality servicer with will acquire PHH complementary capabilities and Corporation for business lines to Ocwen, making it $360 million. a great strategic match for us.” According to a statement issued by the JMAC Lending companies, the closing is Opens New HQ expected to close in the second half of this year, with enough available cash on PHH’s balance sheet to enable $260 million of the $360 million purchase price to JMAC Lending has announced be funded from that source. the opening of its new state-ofOcwen will also assume $119 the art corporate headquarters, million of PHH’s outstanding located in Orange County. The

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100 years of experience combined in assisting clients with homeownership. “Our team is ready and focused to educate and assist community members in Southern Florida with their dreams of homeownership,” said Tabares. Tabares is a Miami native and has been in the mortgage industry for 15 years. He is fluent in Spanish and American Sign Language. Jorge is joined by his wife, Jeniffer Tabares Fuentes, Sales Manager. Before joining PRMI, both Jorge and Jeniffer were Loan Originators at Banking Mortgage Services. They are currently members of several Miami industry organizations, including Miami-Dade Economic Advocacy Trust, City of Miami Down Payment Assistance program, and Miami-Dade Mortgage Credit Certificate program. In his new role, Jorge will be responsible for the overall management of the branch, recruitment and assisting individuals with their home loan needs. “I came to PRMI to join a

new modern working environment more than doubles JMAC’s current office space, providing a central operating center to support the company’s clients and strategic business initiatives. “Our new office provides a dynamic and collaborative work environment for our team,” JMAC Lending’s President Christina Pham said. “In a contracting market, JMAC is growing. We are expanding our operations to better support the needs of our broker clients.” The company completely renovated the second floor of the JMAC Lending building to create a state-of-the-art workplace for up to 200 employees. JMAC Lending will occupy 25,000-square feet. The office features communal spaces with sofas and unique meeting areas for presentations, training and conferences. To celebrate, JMAC Lending hosted a ribboncutting ceremony with 150 employees and invited guests, including Fannie Mae Chief Economist Doug Duncan and mortgage industry commentator Rob Chrisman. “Our new headquarters is continued on page 45

Wednesday, April 11 California District Attorney's Association (Elk's Tower) 921 11th Street, Ste 300, Sacramento, CA 95814 Join CAMP in the halls of the State Capitol in Sacramento, California and learn about current policy issues that face today’s mortgage professionals. You will attend meetings with your legislators and their staff, which will help educate them on the importance of your profession.

For more information:

916-448-8236 valsaun@namb.org i TheCampSite.org

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Members only

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CAMP State Lobby Day 2018

Tony’s Corner

A Message From NAMMBA Founder & CEO J. Tony Thompson III, CMB

NAMMBA: Building Bridges, Connecting Women and Minorities in the Mortgage Space

Why You Should Connect Now

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ou can’t ignore it: The mortgage industry is changing at lightning

speed. New tech is rolling off the assembly line before you’ve adjusted to the latest gadget in your inventory. Innovation and fresh ideas are rampant. Competitors backed by investors with deep pockets are entering the mortgage space. New mortgage startups are sprouting up every day. Fintech is evolving, and longestablished companies that once specialized in one line of business (real estate, for example) are diversifying their products to offer consumers the chance to get a home loan. Change is inevitable, but getting crushed under its own weight can be avoided, but how? By seeking opportunities to learn what’s coming down the pike. By finding out how to avoid the latest regulation landmines. And by hearing directly from some of the most respected and knowledgeable leaders in the industry today. Enter Connect 2018, a two-and-a-half-day mortgage conference sponsored by the National Association for Minority Mortgage Bankers of America (NAMMBA). NAMMBA was launched in 2015 to offer training, education and professional

“

Lenders will need to understand and utilize cultural competency to do business with minority homebuyers, and that’s what Connect 2018 aims to do: Give you the tools necessary to make your business a draw for these consumers.

development opportunities to women and minorities in the mortgage industry so they can grow their business. At the heart of its mission is establishing a network where people find camaraderie among like-minded professionals who understand where they are and want to help them get ahead. Connect is the culmination of that vision. The conference will converge on the Westin Buckhead hotel in Atlanta, Thursday-Sunday, April 12-15. It’ll feature experts discussing an array of topics that include offering insight into how to conquer the builder market, to explaining the impact on the industry by the reemergence of the wholesale lending market. The goal is simple: We want to equip conference attendees with a toolkit packed with resources that will make them

”

the best Mortgage Originator or Mortgage Broker in their market. We want to cultivate top talent that’s smart, competent and confident. We want participants to understand we work for them, and we want them to feel inspired and encouraged knowing they have the backing of some of the industry’s most influential thought leaders. Put another way, we aim to Educate. Empower. Enlighten. Not convinced? Here are three reasons Connect 2018 is worth the investment. The lineup Nima Ghamsari, David Stevens, Marcia Davies, Mat Ishbia … sound familiar? These names reverberate through the industry right now, and they’ll all be delivering keynote addresses or leading sessions at Connect 2018.

Now’s your chance to hear from outgoing Mortgage Bankers Association CEO David Stevens about the future of the industry before he leaves his post in September. Curious about what the movers and shakers in Washington are planning for the industry? We’ll have speakers from Fannie Mae and Freddie Mac deliver updates on important changes within the government-sponsored enterprises (GSEs) and how they could ripple across the housing market. Feeling jittery about new compliance regulations and how that will affect your business? Ben Slayton of Mortgage Compliance Magazine will answer all of your burning questions. Connect puts you in contact with some of the most skilled, accomplished and astute professionals working in the mortgage space. The diversity As much of a buzzword as it’s become in business these days, diversity is increasingly important in the way mortgage lenders operate. Here’s proof: A 2017 report from the Consumer Financial Protection Bureau (CFPB) shows that diversity in the mortgage industry creates space for perspectives that challenge “groupthink” among people

deep dive into the intricacies of our business, learn from your peers and expand your network with the best and brightest in the lending space. Don’t miss this opportunity to build your

skills, tap into much-needed resources and grow your influence. To register or find more information about Connect 2018, visit Connect2018.org.

J. Tony Thompson III, CMB is the Founder and Chief Executive Officer of the National Association of Minority Mortgage Bankers of America (NAMMBA), an organization dedicated to increasing the engagement of women and minorities with the Mortgage Bankers Association at the local, state and national level. As the Founder/CEO of NAMMBA, Tony’s vision is to create a platform where women and minorities can connect, grow and become leaders in the mortgage industry while providing a platform to recruit and train the next generation of mortgage professionals. He may be reached by e-mail at Tony.Thompson@NAMMBA.org.

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

l 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 2018

The recalibration Ever find yourself stuck in your career? You love what you do but it’s a grind. Your focus has shifted. Your motivation is hard to find. You need to get away, breathe and hit the reset button to remind yourself why you’re doing this in the first place. Connect can help you rediscover that passion in a place where no holds barred discussions on the obstacles you face in lending are encouraged. That’s why the MBA’s Tamara King is spearheading our mPact event, to give Millennials a platform to

network and connect with their peers and build community. That’s why we’ve orchestrated ForHer, a summit led by women that focuses on women in lending and strives to help them process and overcome the struggles they face in the workplace. And that’s why we’ve allied with three chief economists to give Connect attendees a broader look at the economic landscape and get the lowdown on what’s happening with rates, Treasury yields and the bond market. Connect is a chance to take a

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with similar backgrounds. It helps companies tap into new market segments and develop innovative financial products that meet the needs of customers across multiple demographics. And those demographics are steadily changing. By 2044, the nation’s minorities will become the majority, the U.S. Census Bureau says, meaning the faces of homeownership will change. The MBA estimates that nearly six million more Hispanic households will be formed in 2024 than were formed in 2014. Lenders will need to understand and utilize cultural competency to do business with minority homebuyers, and that’s what Connect 2018 aims to do: Give you the tools necessary to make your business a draw for these consumers. But you shouldn’t think those moves are limited to the Connect conference. Others are adopting similar approaches. Freddie Mac recently named Jacqueline M. Welch as the Head of its Human Resources, Diversity and Inclusion Division and as its Chief Diversity Officer. Some lenders, such as Envoy Mortgage, are weaving diversity into their business models to tap into multicultural markets. Just recently, NAMMBA and the MBA forged a stronger partnership to advance each other’s efforts of promote inclusion and diversity in the industry. The takeaway … supporting diversity in mortgage lending doesn’t just make for good optics, it’s good business.

Drilling Down on Negative Equity Issues

Connecting MLOs to HUD-Approved Housing Counselors as a Valid Referral Partner Being Considered BY PAM MARRON

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onsumers across the nation who haven’t considered homeownership in the past are now investigating a home purchase due to rising rent costs. Many have credit issues or they simply need to build credit. And based upon the turnout at the recent Tampa Bay Homeownership Fair, many are now investigating how to purchase a home for the first time. HUD-approved housing counseling services are not commonly known to many in the mortgage industry. l Housing counselors are trained in all aspects of the home owning process from pre-purchase to default. They provide custom tailored solutions based on consumer needs and help the consumer navigate the homebuying process. l For in-depth credit help, credit counselors are available to assist clients with short-term credit issues and longer-term debt management. Credit counselors provide credit counseling and debt management … not credit repair or debt settlement. Credit counselors work for non-profit agencies, advise consumers on managing their money, offer solutions to reduce or eliminate debt loads and develop personalized action plans to help prevent future problems. Most credit counselors are also HUDapproved housing counselors. Many of these credit counseling agencies belong to the National

Foundation for Credit Counseling (NFCC) or NFCC.org. On May 15, 2017, the NFCC was included on a HUD Housing Counseling Federal Advisory Committee (HCFAC) panel entitled “Challenges in Credit Reporting Post-Crisis: An Opportunity for Housing Counseling Agencies.” Speaker Matt Ribe explained that the NFCC was working to integrate credit clarification into pre-purchase housing counseling as a service for clients with a demonstrated need. Clients would pay for this cost of service upfront, but could receive a credit towards closing costs on a new mortgage from their lender or Mortgage Loan Originator after completing the counseling. In the last three months, Loan Originators have experienced an increase in the number of consumers inquiring about purchasing a home, and many for the first time. Consumer inquiries appear to be due to increased rent costs, but some that investigate homeownership aren’t ready yet. Credit issues, credit building and saving money are the top issues that face these clients. Often, consumers are referred to credit repair companies who apply “fixes” that are temporary and costly. Even worse, when the consumer applies for a new mortgage, the “fix” usually must be undone and old credit can reappear along with decreased credit scores. Many times, clients are referred to credit repair companies simply because the Mortgage Loan Originator or consumer were not aware of

services that housing and credit counselors can provide. HUD-approved housing counselors and credit counselors can help these same consumers with short- and long-term issues and prepare them for all aspects of homeownership. Lenders are already aware of the benefits of housing and credit counseling services and many already work with counseling agencies, referring “not quite ready” or lender-denied consumers to counselors. These lenders can provide funding to HUD-approved housing counseling agencies to work with clients who want to overcome obstacles. So why can’t Mortgage Loan Originators … who are often the first to see the consumer’s credit, income and assets … do the same? Behind the scenes, a few HCFAC Committee members from the mortgage and housing counseling sectors have been working with four to six housing and credit counseling agencies on an effort to start and monitor a pilot program to refer clients who need assistance to get “mortgage ready.” What we have learned so far: l Each agency has a different depth of credit experience. l Agencies that can work on shortterm credit issues can refer clients to an intermediary agency

for more in-depth credit counseling. There is a way to include “Mortgage Loan Originator” as a referring partner to Housing Counseling Agencies (HCA). There is a way to designate and add a “Mortgage Loan Originator” on the “Release of Information” Form at the HCA, so that the Mortgage Loan Originator can be apprised of the consumer’s progress at the HCA. These benefits provide accountability of the Mortgage Loan Originator to keep in touch with a referring Realtor on the progress of the consumer and to support the consumer as they become “mortgage ready.” Mortgage Loan Originators can provide a credit towards closing costs on a new home purchase for consumers who may incur an upfront fee for service at the HCA. A voiced concern is a requirement that non-profit HCA’s must provide the consumer with three referrals for lenders or services when the consumer is “mortgage ready,” so as not to steer the consumer. A consumer that knows they will get a credit towards closing cost from the referring Mortgage Loan Originator is likely to return to the same Loan Originator. Stay tuned.

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 PMarron@InnovativeMortgage.onmicrosoft.com or visit HousingCrisisStories.com, CloseWithPam.com or 8Problems.com.

heard on the street

JMAC’s investment in our business partners,” said JMAC Lending’s Chief Financial Officer Anthony Pham. “This sets the tone for our commitment to providing a stable operations center backed by our industry-leading mortgage technology and expertise. We want to demonstrate to our broker clients that they are partnered with the right lender.”

continued from page 41

hackers and reducing the risk of profit loss.” Tim Nguyen, President of LendingQB, said, “LendingQB has always held a strong focus on cybersecurity. In an era of the ever-increasing volume of cyberrelated crimes, there can never be enough precautions for financial data. Our partnership with PitchPoint reaffirms our commitment to the importance of data security and extends it to

our valued lenders. PitchPoint’s fraud detection tool doesn’t just detect fraud, it offers our lenders peace-of-mind.” Mortgage professionals to watch l Carrington Mortgage Holdings has announced that Rick Sharga has rejoined the company as an Executive Vice President, serving as the primary spokesman for Carrington, and responsible for public relations and communications, as well as branding and marketing strategies for all of the

Carrington Companies. l Silver Hill Funding has announced that Michael Boggiano has been accepted into the Forbes Real Estate Council, an invitation-only community for executives in the real estate industry. l New Penn Financial has announced the promotion of Kevin Harrigan to the position of President. Harrigan joined New Penn in 2013, and most recently served as the company’s Chief Operating Officer. continued on page 64

New LendingQB Partnership to Protect Against Wire Fraud

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LendingQB has announced a partnership with PitchPoint Solutions to provide lenders stronger tools to protect against wire transfer fraud. Through this integration, customers of LendingQB have access to PitchPoint’s Bank Account Verification and Settlement Agent Vetting tools. Bank Account Verification verifies an account holder’s name, routing number and account number via a secure financial network, while Settlement Agent Report vets the settlement company to ensure it is in good standing and our clients are compliant with CFPB and investor requirements. This integration helps lenders deal with increasing levels of wire fraud, which increased 480 percent last year, totaling more than $748 million in losses. The partnership also enables lenders to comply with Fannie Mae and Consumer Financial Protect Bureau (CFPB) recommendations announced in bulletins encouraging lenders to “confirm before you fund.” “Ensuring comprehensive fraud detection and verification services remain our top priority, especially in an environment where hackers are growing more sophisticated by the day,” said Ron Hughes, Senior Vice President of Business Development for PitchPoint Solutions. “Our partnership with LendingQB enables rapid and secure verification of wire instructions protecting lenders from

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Give Your Spring Some Bounce by Getting Prospects Off the Fence By Bubba Mills

—Anonymous being sold. It sets up a simple, but extraordinarily effective, scenario where people feel compelled to act so that they don’t lose out. And it’s so simple: Act by this date and you don’t lose. In fact, you win by getting a better price or some other benefit. It’s foolproof and you should use this tactic every day. It’s particularly useful in the mortgage industry primarily because of interest rates. If they’re predicted to rise, buyers need to act or lose money on their monthly mortgage. If they look like they’ll be dropping, then you can promote refinancing. l Give examples of other clients who didn’t wait and

saved money because of it. Marketing professors call this “Social Proof.” People look at what others do to decide how they should act. Example: Have you ever noticed that people waiting to cross a busy street will follow the guy who decides to walk even against the red hand sign. Sure, there are no cars coming, so he walks. And everyone else is right behind him! It’s the same principle with sales. People will buy what others are buying. Think of the long lines

47 l Don’t make it a sales call, make it an educational call. In essence, make the call appear like a favor. You’re giving them information that can help them. The script might sound something like this: “I just wanted to call as a courtesy to let you know interest rates are looking pretty good right now, good enough to save you a lot of money on a mortgage.” When you put it like that, you employ another powerful persuasive element called reciprocity. When someone does a favor for you, you feel compelled to return that favor. You scratch my back, I’ll scratch yours. It’s worked for eons and it still works today … like a charm! Let me hear from you. What plans do you have to connect with those folks on your waitlist? How can you make those calls more effective so that prospects are more receptive to your message? Do you have a script you can polish?

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

n National Mortgage Professional Magazine n MARCH 2018

l Explain what they could lose by waiting. Consumers faced with a buying scenario all have one thing in common … they don’t want to lose out on something good. It’s a huge motivator. It’s why you always see a deadline date for practically anything that’s

“Warning: Dates on this calendar are closer than they appear.”

outside Apple stores when a new iPhone is introduced.

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pring is one of the most important times of the year for mortgage professionals. Why? The thaw begins. Not the thaw of snow melting, but the thaw of real estate activity. It’s the time of year all those folks on your “Waitlist”—those who’ve said they’re going to wait to buy— begin to come out of hibernation. Or at least that’s what you hope they do. And my best advice: Be there to greet them. Not only that, but also take the initiative and begin communicating with them. When you do make that call, the key to remember is this: These people have already procrastinated once, so you don’t want them to do it again. They’re on the fence and your job is to get them off the fence and help them resolve their mortgage needs. How do you get them off the fence? Here are my tips:

MARCH 2018 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

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The National Association of Minority Mortgage Bankers of America (NAMMBA) and National Mortgage Professional Magazine have compiled a list of the top Women and Minority Mortgage Loan Originators (MLOs) in the nation, ranked by the top 50 MLOs based on loans and volume in the NAMMBA Top 100. Qualified nominees represent minority groups or must be female, and originate loans with an active NMLS number. All production has been verified by a letter by a sales manager or another authorized party. Due diligence was conducted on all submissions. Congratulations to 2018â&#x20AC;&#x2122;s NAMMBA Top 100 on being recognized for this honor ...

NAMMBA Top 50 MLOs by Loan Volume Heather Enochs New American Funding Heather.Enochs@NAFInc.com NewAmericanAgent.com/HeatherEnochs (720) 252-3165

Hung Le Movement Mortgage Hung.Le@Movement.com Movement.com/Hung.Le (504) 210-6697

Vick Bedi SD Capital Funding MBedi@SDCapitalFunding.com SDCapitalFunding.com (732) 910-4202

Gene Frazier PrimeLending GFrazier@PrimeLending.com GeneFrazierOnline.com (240) 387-7132

Desteni C. Mason KTL Performance Mortgage Ltd. DMason@PerformanceMortgageone.com MasonKnowsMortgages.com (937) 548-8222

Becky Brown New American Funding Becky.Brown@NAFInc.com NewAmericanAgent.com/BeckyBrown (678) 478-1612

Melissa Gibson New American Funding Melissa.Gibson@NAFInc.com NewAmericanAgent.com/MelissaGibson (770) 870-5136

Basel S. Mazahreh Creative Financial Network BM@CFNMortgages.com CFNLoans.com (609) 877-3330

Pamela Caldwell Certainty Home Loans PCaldwell@CertaintyHomeLoans.com CertaintyHomeLoans.com (336) 259-8187

Diego Giraldo Texas Bank Mortgage Company DGiraldo@TXBMC.com TXBMC.com (817) 386-8085

Phyllis McDaniel PrimeLending PMcDaniel@PrimeLending.com LO.PrimeLending.com/PMcDaniel (928) 239-3320

Debbie Cash Certainty Home Loans DCash@CertaintyHomeLoans.com CertaintyHomeLoans.com (713) 463-9939

Vanya Griffith-Mayes Certainty Home Loans Vanya@VanyaGriffith.com CertaintyHomeLoans.com (903) 870-0576

Chris Minjarez CMG Financial CMinjarez@CMGFi.com CMGFi.com/Agents/Christopher-Ray-Minjarez (512) 874-3702

Joseph Chacko C2 Financial Corporation Joe@C2FinCorp.com C2FinCorp.com (619) 758-5858

Norma Guerrero-Cowes DHI Mortgage NGuerrero-Cowes@DHIMortgage.com DHIMortgage.com/Norma-Guerrero (512) 533-1312

Erin Moore PrimeLending EMoore@PrimeLending.com Moore-MacFerrenGroup.com (928) 779-9500

Karen Chiu New American Funding Karen.Chiu@NAFInc.com KarenChiu.net (626) 437-4481

Tammy K. Hajjar Miller The Federal Savings Bank Tammy@TheFederalSavingsBank.com TammyHajjar.com (773) 726-4374

Susan Moore Certainty Home Loans Smoore@CertaintyHomeLoans.com CertaintyHomeLoans.com (682) 433-5105

Diane Clark PrimeLending DClark@PrimeLending.com DianeClark.com (877) 875-7356

Deb Higgins New American Funding Deb.Higgins@NAFInc.com NewAmericanAgent.com/DebHiggins (618) 467-5626

Carolina Moreno Texas Bank Mortgage Company CMoreno@TXBMC.com TXBMC.com (817) 386-8085

Carlo Colantonio CMG Financial CColantonio@CMGFi.com CMGFi.com/Agents/Carlo-Colantonio (210) 801-8801

Alex A. Jimenez Hancock Mortgage AJ@HancockMortgage.com AJNashville.com (615) 243-3774

Stephanie Morgan PrimeLending Stephanie@PrimeLending.com www.AggieLoanOfficer.com (210) 483-4953

Carey Ann Cyr CMG Financial CareyAnn@CMGFi.com www.CMGFi.com/Agents/Carey-Ann-Cyr (615) 567-8866

Cindy Laffey Inlanta Mortgage Inc. CindyLaffey@Inlanta.com CindyLaffey.com (913) 568-9074

Andres J. Munar Movement Mortgage Andres.Munar@Movement.com Movement.com/nonlo/Andres-Munar (814) 308-3276

Samir Dedhia SD Capital Funding SDedhia@SDCapitalFunding.com SDCapitalFunding.com (908) 227-6042

An Le PrimeLending AnLe@PrimeLending.com LO.PrimeLending.com/AnLe (817) 284-5626

Brandy Nelms Guild Mortgage Company Brandyl@GuildMortgage.net BrandysHomeLoans.com (360) 280-1467

Nichole Allison New American Funding Nichole.Allison@NAFInc.com NewAmericanAgent.com/NicholeAllison (404) 323-4748

A M B T O P 1 0 0

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Maria Salas Texas Bank Mortgage Company MSalas@TXBMC.com TXBMC.com 817-386-8085

Sofia Travayiakis Mortgage Network Inc. SofiaT@MortgageNetwork.com MortgageNetwork.com/Sofia-Travayiakis (617) 686-1873

Gloria Price PrimeLending GPrice@PrimeLending.com GloriaPriceTeam.com (972) 248-7866

Shashank Shekhar Arcus Lending Inc. Shashank@ArcusLending.com ArcusLending.com (408) 615-0655

Alexander J. Varela PrimeLending, A PlainsCapital Company AVarela@PrimeLending.com TeamVarela.com (972) 250-9603

Joy Prisching Key Mortgage Services Inc. Joy.Prisching@KeyMortgageServices.com TheJoyOfMortgages.com (630) 430-1048

Mary Jo Smith CMG Financial MJSmith@CMGFi.com CMGFi.com/Agents/Mary-Smith (615) 567-8905

Amy Wolff Direct Mortgage Loans LLC AmyW@DirectMortgageLoans.com DirectMortgageLoans.com (443) 541-5545

Ridhi Raheja Movement Mortgage Ridhi.Raheja@Movement.com Teams.Movement.com/TheRahejaTeam (630) 660-6376

Nicole Smith Flagstar Bank FSB Nicole.M.Smith@Flagstar.com Flagstar.com/NSmith (561) 900-4855

Brenda Worthen PrimeLending BWorthen@PrimeLending.com PrimeLendingOdessa.com (432) 550-2011

Camilo Rodriguez The Federal Savings Bank CRodriguez@TheFederalSavingsBank.com TheFederalSavingsBank.com (312) 738-6067

Laura Sosa-Rocha Witte Northpointe Bank Laura@TruthAndLending.com TruthAndLending.com (404) 456-8291

Samantha Zumwalt Paramount Residential Mortgage Group SZumwalt@PRMG.net PRMG.net (760) 217-9687

Jodi Ryder C2 Financial Corporation Jodi@RyderMortgageGroup.com RyderMortgageGroup.com (951) 805-3110

Wendy Thompson Brighton Bank Wendy@TheWendyThompsonTeam.com TheWendyThompsonTeam.com (901) 461-8858

Rocio Portella Paramount Residential Mortgage Group RocioP@me.com PRMG.net (305) 228-7600

NAMMBA Top 50 MLOs by Dollar Volume Nichole Allison New American Funding Nichole.Allison@NAFInc.com NewAmericanAgent.com/NicholeAllison (404) 323-4748

Karen Chiu New American Funding Karen.Chiu@NAFInc.com KarenChiu.net (626) 437-4481

Monika DeJesus United Northern Mortgage Bankers MDeJesus@UnitedNorthern.com UnitedNorthern.com (516) 351-4021

Vick Bedi SD Capital Funding MBedi@SDCapitalFunding.com SDCapitalFunding.com (732) 910-4202

Diane Clark PrimeLending DClark@PrimeLending.com DianeClark.com (877) 875-7356

Heather Enochs New American Funding Heather.Enochs@NAFInc.com NewAmericanAgent.com/HeatherEnochs (720) 252-3165

Becky Brown New American Funding Becky.Brown@NAFInc.com NewAmericanAgent.com/BeckyBrown (678) 478-1612

Carlo Colantonio CMG Financial CColantonio@CMGFi.com CMGFi.com/Agents/Carlo-Colantonio (210) 801-8801

Mattie Ford Delta Community Credit Union Mattie.Ford@DeltaCommunityCU.com DeltaCommunityCU.com (404) 677-4938