National Mortgage Professional Magazine March 2019 by ambizmedia

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table of

N A T I O N A L

The Mortgage Godfather: Goals or a System … Which Is More Important? By Ralph LoVuolo Sr.

M A R C H

32 NAMMBA Top 100

2 0 1 9

M O R T G

V O L U

A SPECIAL FOCUS ON “DIVERSITY IN MORTGAGE LENDING”

R o

Recruiting a Diverse Workforce ... A Woman’s Perspective By Dalila Ramos ........................................................................................64

A C

All In: Increasing Engagement Among Minorities and Women in the Industry By Quincy Amekuedi ........................................................68

Lender Initiatives to Recruit and Retain a More Diverse Workforce By Brooke Mulder ......................................................................................70

T O

Women Weigh In By Jill Burns ................................................................72

Recruit and Mentor Workers Who Don’t Look Like You By Bill Packer ............................................................................................74

Achieving Diversity and Inclusion in Mortgage Lending By Michelle Choquette ..............................................................................76

40 National Mortgage Professional Magazine Presents ... Diversity Roundtable Discussion 2019

Engaging Minorities and Women in the Mortgage Industry By Kelcey Brown........................................................................................78

Immigrant Business Owners Are a Good Risk for CRE Lenders By Rohit Arora ............................................................................................80 Marketing to Minorities By Brandon Simmons ......................................81

Creating Excitement for Inclusion and Diversity in Lending By Shawn Devlin ........................................................................................82

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

Contrary to Headlines, Non-QM Is the Real Thing By Tom Hutchens ..8

The Elite Performer: March Forward By Andy W. Harris, CRMS ............8

Compliance Matters: “Direct Drop” Voicemails and the TCPA By Joyce Wilkins Pollison Esq. ..................................................................10

46 “The Way We’ve Always Done it” Is Dead By Matt Slonaker

V I S I T Company

Web Site

O U R

A D Page

ACC Mortgage .................................................. weapproveloans.com ....................................................13 Angel Oak Mortgage Solutions ............................ angeloakms.com ..............................................Back Cover Brokers Compliance Group.................................. brokerscompliancegroup.com ..........................................67 Capital One.......................................................... capital.one/financialinstitutions ..........................................9 Carrington Mortgage Services, LLC ...................... carringtoncorrespondent.com ..................................1 & 25 Citadel Servicing Corporation .............................. citadelservicing.com ......................................................83 DocMagic .......................................................... docmagic.com ..............................................................19

th i w k

Bec

The

First National Bank of America............................ fnba.com/mortgagebrokers ..............................................5

The Beckwith Blog … Competitors Unite: The New World of Intermingled Mortgage Pros By Christine Beckwith

Lykken On Lending ............................................ lykkenonlending.com ....................................................29

th i w k

Flagstar Bank .................................................... flagstar.com/why ..........................................................39 Genworth Mortgage Insurance Corporation .......... pages.genworth.com/choose ..........................................21 Greenbox Loans, Inc........................................... greenboxloans.com ................................Inside Front Cover IMPAC Mortgage Corp......................................... premier.impacmortgage.com ..........................................51

MBANJ .............................................................. mbanj.com ..................................................................71 MBS Highway .................................................... mbshighway.com/MNN ..................................................69

of contents

R T G A G E

L U M E

1 1

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

N U M B E R

Recruiting, Training and Mentoring Corner: Getting Out of the Box By Dave Hershman..................................................................12

A Message From E. Robert Levy, Chairman, Regional Conference of MBAs................................................................................18 Ohio and New Jersey Make Annual Updates By Gavin T. Ales ............20 NAMB Perspective ..................................................................................22 There’s a Changing of the Tide in the Independent Loan Originator Business … We Are Ready! By Pam Marron ........................26 The NAPMW Report ................................................................................54 MBA’s Mortgage Action Alliance: A Message From MAA Chairman Jeffrey C. Taylor ............................................................56 NAMMBA Connect 2019 ..........................................................................58 BrokerNATION: Edge Home Finance: Tom Stafford By Andy W. Harris, CRMS ........................................................................62

We are once again looking for the Most Connected Mortgage Professionals. These are individuals who have a large number of followers on Twitter or likes on Facebook or maybe have a very popular blog or video show. These individuals will be featured in our July 2019 edition, which has a special focus on Social Media.

Does Your Assistant Do This? By Brian Sacks ......................................86

COLUMNS New to Market ..................................................................................14 News Flash: March 2019 ..................................................................16 Heard on the Street ..........................................................................30 Outstanding Places to Work ............................................................92 NMP Calendar of Events ..................................................................93 NMP Resource Registry....................................................................94

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

Web Site

Page

Mortgage News Network (MNN) .......................... mortgagenewsnetwork.com ....................................44 & 45 NAMB+ ............................................................ nambplus.com ..............................................................27 NAMMBA ..........................................................nammbaconnect.org ...................................................... 17 NAPMW ............................................................ napmw.org ............................................................75 & 91 NAWRB ............................................................ nawrb.com ....................................................................31 New American Funding ...................................... newamericanfunding.com ..............................................96 NRMLA.............................................................. nrmlaonline.org ............................................................77 Origination Pro.................................................. originationpro.com ........................................................57 Paramount Residential Mortgage Group, Inc. ...... prmg.net ................................................Inside Back Cover Quicken Loan Mortgage Services.......................... qlmortgageservices.com/strongertogether ........................11 REMN................................................................ remnwholesale.com ......................................................15 Ridgewood ........................................................ ridgewoodbank.com ......................................................72 Ron Vaimberg International................................ recruitandlead.com ......................................................79 Sharestates........................................................ sharestates.com ..............................................................7 United Wholesale Mortgage ................................ uwm.com ..............................................................48 & 49

Go to http://nmpmag.com/mostconnected

MARCH 2019 Volume 11 • Number 3

FROM THE

publisher’s desk

The Path to Greater Diversity in Mortgage One of the most exciting developments I’ve seen over the course of the many years I’ve been 1220 Wantagh Avenue • Wantagh, NY 11793-2202 serving this industry is the welcoming of more diversity into our companies. It took a long time Phone: (516) 409-5555 • Fax: (516) 409-4600 for companies to realize that being diverse was more than simply a publicity stunt, but rather, Web site: NationalMortgageProfessional.com the path to stronger companies and greater success. STAFF Eric C. Peck Joel M. Berman One of the old arguments that some used to explain why companies were taking so long to Editor-in-Chief Publisher - CEO (516) 409-5555, ext. 312 (516) 409-5555, ext. 310 diversify their staffs and management teams was that persons from these communities simply ericp@mortgagenewsnetwork.com joel@mortgagenewsnetwork.com didn’t have the skills and expertise to do the job. I’m not sure that was ever true, but it’s Joey Arendt Beverly Bolnick certainly not true today. Art Director VP-Sales & Marketing (516) 409-5555, ext. 323 (516) 409-5555, ext. 316 In fact, some of our best and brightest people are now coming from these communities. I’m joeya@mortgagenewsnetwork.com beverlyb@mortgagenewsnetwork.com proud that National Mortgage Professional Magazine has been working with the National Scott Koondel Phil Hall VP of Operations Managing Editor Association of Minority Mortgage Bankers Association (NAMMBA) to shed light on some (516) 409-5555, ext. 324 (516) 409-5555, ext. 312 fantastic mortgage professionals. Again this year, we bring you the NAMMBA Top 100 Women scottk@mortgagenewsnetwork.com philh@mortgagenewsnetwork.com and Minority Mortgage Loan Originators (MLOs) in the nation, ranked by total loans and volume. Richard Zyta Francine Miller Social Media Ambassador Advertising Coordinator Congratulations to everyone who made this year’s list. (516) 409-5555 (516) 409-5555, ext. 301 richardz@mortgagenewsnetwork.com francinem@mortgagenewsnetwork.com If you’re building a successful loan origination business, these are exactly the types of Rick Grant Dylan Pollock individuals you want on your team. You can find out more by attending the upcoming NAMMBA Special Reports Editor Administrative Assistant Connect Conference, set for April, 24-27 in Atlanta. We’ll be on hand, visiting with some of (570) 497-1026 (direct) (516) 409-5555, ext. 314 (516) 409-555, ext. 311 dylanp@mortgagenewsnetwork.com these stars and many more attendees of the show and members of this fantastic organization. rickg@mortgagenewsnetwork.com That’s not the only big event we’ll be attending in the near future. We’ll also be on hand for ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact NAMB’s 2019 Legislative & Regulatory Conference in Washington, D.C., from May 4-7. You’ll VP-Sales & Marketing Beverly Bolnick at (516) 409-5555, ext. 316 or e-mail beverlyb@mortgagefind out more about that important event in this issue. newsnetwork.com. Back to our issue’s theme … ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck This month, we bring you in this issue our first ever Diversity Roundtable Discussion. We’ve at (516) 409-5555, ext. 312 or e-mail ericp@mortgagenewsnetwork.com. The deadline for submissions pulled together an expert panel, featuring Patty Arvielo, President of New American Funding; is the first of the month prior to the target issue. Kristy W. Fercho, Executive Vice President, President of Mortgage at Flagstar Bank; Desirée SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgagePatno, Chief Executive Officer & President of the Women in the Housing and Real Estate newsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. Ecosystem (NAWRB); and Sarah White, Senior Vice President of Marketing at Class Valuation. Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the See the article on page 40 to learn about their experiences and the current state of the industry authors alone and do not imply the opinion or endorsement of Mortgage News Network Inc., or the offifrom their perspective. 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) And, as you have come to expect, we bring you a host of voices from around the industry, and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, ARMCP and/or other state mortgage trade associations sharing their thought leadership around this important issue. As usual, I’ll first direct your events, activities and/or publications is available on a non-discriminatory basis and does not reflect the attention to a strategic discussion of the topic.” endorsement of the product and/or services by Mortgage News Network Inc., NAMB, NAPMW, NCRA, and other state mortgage trade associations. I suggest you start with “Creating Excitement for Inclusion and Diversity in Lending,” by National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, ARMCP and/or other state Shawn Devlin, National Sales Manager at BluePointMtg d/b/a Royal Pacific Funding. Shawn mortgage trade associations do not make any misrepresentations or warranties concerning the regulatory and/or compliance aspects of advertisers, products or services and/or the editorial content conprovides a good over from a unique perspective. While most of these articles you’ll read this tained in Mortgage 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 artimonth in our special section were written by minorities or women, Shawn is hearing impaired, cles, information or data. reminding us of another important aspect to this discussion. For more support with your strategic approach, don’t miss “Achieving Diversity and Inclusion in Mortgage Lending,” by Michelle Choquette, Chief Human Resources Officer for Gateway Mortgage Group and “Engaging Minorities and Women in the Mortgage Industry,” by Kelcey Brown, Chief Strategy Officer and Executive Vice President for WebMax. Finally, be sure to check out “All In: Increasing Engagement Among Minorities and Women in the Industry,” by Quincy Amekuedi, Recruiting Leader for Genworth Mortgage Insurance. Even when executives fully understand the importance of a diverse workforce and management team, many still struggle to find the right candidates. Recruitment is a problem for many companies in America right now, but our business is unique in that our people must be highly qualified, very motivated and good team players. Where will we find them? We thought you might ask, and so we bring you an embarrassment of riches in this issue. See, “Recruiting a Diverse Workforce ... A Woman’s Perspective,” by Dalila Ramos, Director of Business Development for the National Association of Minority Mortgage Bankers of America (NAMMBA). Then move on to “Recruit and Mentor Workers Who Don’t Look Like You,” by Bill Packer, Executive Vice President and Chief Operations Officer at American Financial Resources Inc. Finally, read “Lender Initiatives to Recruit and Retain a More Diverse Workforce,” by Brooke Mulder, Marketing and Communications Manager for MortgageHippo. There are many advantages to being a more diverse workplace, but one of the most important—at least for the bottom line—is having people on staff who really understand the people we’re trying to serve. For more about what I’m talking about here, see “Women Weigh In,” by Jill Burns, Executive Vice President of Operations, Mountain West Financial Inc. (MWF) and “Marketing to Minorities,” by Brandon Simmons, Digital Manager for Open Mortgage LLC. And don’t miss “Immigrant Business Owners Are a Good Risk for CRE Lenders,” by Rohit Arora, Chief Executive Officer and Co-Founder of Biz2Credit. A nice reminder that we’re not just about residential lending. I’m very proud of this issue and hope you enjoy the material and that it helps you get closer to your goals for diversifying your own businesses. Of course, this month you’re also going to find all of the trade group news, compliance support and general motivation that we work to pack into every issue. It’s all about making you more successful. That is our wish. Good reading. Sincerely,

Joel M. Berman, Publisher-CEO Mortgage News Network Joel@MortgageNewsNetwork.com

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MARCH 2019

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 2018-2019 BOARD OF OFFICERS & DIRECTORS E X E C U T I V E

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

Rocke Andrews, CMC, CRMS President-Elect Rocke.Andrews@NAMB.org

Michelle Velez, CMC Vice President Michelle.Velez@NAMB.org

B O A R D

George Burkely, CRMS Treasurer George.Burkley@NAMB.org

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

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

D I R E C T O R S

Michael DeSantis Mike.DeSantis@NAMB.org

Wayne King, CRMS Wayne.King@NAMB.org

Linda McCoy, CMRS Linda.McCoy@NAMB.org

Matt Oliver Matt.Oliver@NAMB.org

Marty Pfeiffenberger MartyP@ NAMB.org

Kimber White, CRMS Kimber.White@NAMB.org

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

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

National Association of Professional Mortgage Women 6000 Gisholt Drive, Suite 200 l Madison, WI 53713 l Phone: (608) 886-9817 l E-mail: Admin@NAPMW.org l Web site: NAPMW.org

2018-2019 NAPMW NATIONAL BOARD OF DIRECTORS

Laurel Knight-Keane National President President@NAPMW.org

Glenda Mooney President-Elect PresElect@NAPMW.org

Tobi Libbra Vice President NVP1@NAPMW.org

Rolanda Legg Vice President NVP2@NAPMW.org

Jaclyn Weedin Secretary NatSecretary@NAPMW.org

Nicole Shea Treasurer NatTreasurer@NAPMW.org

Robin Hart Parliamentarian Parliamentarian@NAPMW.org

National Consumer Reporting Association 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

MARCH 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

2019-2020 BOARD OF DIRECTORS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

ARMCP Hits 1,600 Mark, Nears Official Site Launch Having just reached the milestone of 1,600 members, the Association of Residential Mortgage Compliance Professionals (ARMCP) is now also nearing completion of its new Web site, a state-of-the-art site designed specifically to fulfill the needs of residential mortgage compliance professionals. The design and development have taken several years to bring to the point of launch. This is just what our organization needs. If you have not yet joined the ARMCP, please contact Jonathan Foxx, ARMCP Founder and President, at Info@ARMCP.org and you will be sent an invitation. ARMCP’s current digital abode is on LinkedIn. The LinkedIn group will be kept while also moving to the larger new home at the brand new site. The association be sending announcements your way soon, via LinkedIn and other media resources, with the membership link. The site is expected to launch officially within the next 90 days. ARMCP is the first and only independent, national organization in the country devoted exclusively to residential mortgage compliance professionals. The association’s independence means it is not affiliated with any profit-oriented enterprise. Membership consists solely of those members who have joined it on their own and were not solicited to join via solicitations from third-party lists or subscriptions. Regular members pay no membership fee … independence is the key to the value of ARMCP’s advocacy! Want to join or create a committee? ARMCP would like to hear from you! For more information, visit ARMCP.org.

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APPLICATION + CREDIT + APPRA AISAL = FINANCING G

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IN THE R REAL ESTAT TE JUNGLE E

Contrary to Headlines, Non-QM Is the Real Thing By Tom Hutchens

MARCH 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

art of our mission at Angel Oak Mortgage Solutions is to educate. For more than five years, we have strongly explained why today’s non-QM products are not the sub-prime loans of days past.

High-risk, sub-prime mortgages are dead and have been for more than 10 years. Today, borrowers must prove their ability to repay, according to Dodd-Frank rules. Therefore, new, stringent underwriting ensures that we are lending safely. The result: Non-QM loans have lower default rates than agency loans. Yet, alarmist news reports perpetuate the stigmas of bygone sub-prime products, unfairly associating them with today’s non-QM loans. Just Google the term “Sub-Prime Is Back.” You will find dozens of articles, all written recently, warning about the risks of the “Revival of Sub-Prime.” Mainly, that is code for nonQM mortgages. It’s a shame, because Googling “Growth of Non-QM” delivers even more articles with positive coverage of non-QM. We worry that these aspersions of non-QM loans are deterring too many Originators from offering these solid and much-needed products. It’s natural to be wary of things that are questioned in the media. However, Originators have no reason to fear that offering non-QM products will damage their reputations or expose them to other problems. In truth, your biggest risk is missing out on the increasing demand for alternative loans. Forward-thinking, ambitious non-QM Originators are establishing enviable pipelines and distinct marketing footprints in their geographic areas, most of which still have few non-QM evangelists. These non-QM market leaders are building their personal brands by directing powerful messages at the millions of consumers who mistakenly assume that they cannot buy a home due to non-traditional income or a previous credit event. These professionals distinguish themselves by educating Realtors, real estate attorneys, financial planners and others about the benefits of alternative loans. As an Originator, how should you respond to misinformation about non-QM loans? I recommend that you jump on the non-QM bandwagon now. It is still early in the game. The timing is perfect for you to become a leader who maximizes the potential to profit. If you wait until everybody is offering non-QM loans–and that day will come sooner rather than later–the competition will be daunting. Today, the opportunities remain plentiful. The best place to learn about non-QM mortgages and connect with a team that can help you succeed is Angel Oak Mortgage Solutions at AngelOakMS.com. Discover your personal Account Executive there, or call (866) 837-6312.

Tom Hutchens is Executive Vice President, Production at Angel Oak Mortgage Solutions, an Atlanta-based wholesale and correspondent lender leading the non-QM space for four years and licensed in over 35 states. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 5394910 or e-mail Info@AngelOakMS.com.

SPONSORED EDITORIAL

ATTOM Data Solutions has introduced a Data-as-a-Service (DaaS) solution for its clients. According to the Irvine, Calif.based company, the new DaaS

offering is a publishing platform that can be combined with cloud technology to provide on-demand computing power and greater storage capacity for the company’s property data. The solution eliminates the need to download flat files, with updates occurring daily from the DaaS database. “Data is coming from everywhere into companies today, and the need to effectively manage it continues to increase,” said ATTOM Data Solutions Chief Technology Officer Todd Teta. “In speaking with our clients, many of them described that they were ‘drowning in data’ and unable to keep up with the demands of finding, ingesting, and managing it. The time and efforts they were spending led us to think there must be a better way to deliver our data to clients. Our data-as-aservice solution streamlines a lot of the complexity of data management and allows our clients to focus on their business.” New Bundled FHA Product From Altisource

Altisource Portfolio Solutions has announced the launch of its bundled FHA product, which provides customized asset management services for delinquent FHA loans. Altisource’s FHA offering typically begins with asset oversight at the 60-day delinquency mark and extends through the first Claims Without Conveyance of Title (CWCOT) sale and, if required, the second chance sale. Utilizing Equator, Altisource’s residential loan default software and marketing solution, Altisource can help servicers manage the asset marketing and conveyance process (including field services, valuations, title services, online marketing and auctions) from one place. In addition, the Equator platform includes a proprietary FHA model that leverages the data feeds and workflows to help optimize outcomes for servicers. “Now is the time for servicers to review their internal capabilities and ensure they engage the best and most experienced vendors to effectively prepare for a growing FHA portfolio,” said Patrick G. continued on page 50

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N A M B

P E R S P E C T I V E

Become a Change Agent for Better Health Insurance A case for Association Health Plans By Michael Haffey

So you want lower health insurance premiums? How about 10 percent to 25 percent less? You also want better access to healthcare. How about 24/7 access to a physician at no cost to you? This may seem completely unattainable based on your recent health insurance experiences; however, change is within reach. The National Association of Mortgage Brokers (NAMB) is in the process of providing their members access to a new Association Health Plan (AHP). This new plan provides the opportunity and resources to deploy health plans with lower cost, diverse and unique plan options, and better access to healthcare. In order to get there, we as business leaders need to commit to being the agents for this much-needed change. According to the Association Health Plan (AHP) Final Rule, published by the Employee Benefits Security Administration on June 21, 2018: “AHPs are an innovative option for expanding access to employersponsored coverage (especially for small businesses). Through AHPs, employers band together to purchase health coverage. By participating in AHPs, employees of small employers and working owners are able to obtain coverage that is not subject to the regulatory complexity and burden that currently characterizes the market for individual and small group health coverage and, therefore, can enjoy flexibility with respect to benefit package design comparable to that enjoyed by large employers.”

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Based on this ruling, NAMB (in partnership with Pendella) is building an Association Health Plan. As we do this, we are required to abide by state rules and guidelines. NAMB and Pendella will do their due diligence by using a national survey to identify state availability and to structure state (and ultimately a national) program based on those results. Solving “The Problem” I have personally been helping businesses consume appropriate health insurance for more than 30 years, and two things are abundantly clear: 1. The current system is broken; and 2. We can’t count on the traditional infrastructure to create the change that we need. The reality is that we must look no further than ourselves for this. Small business owners are the real change agents who are tasked with taking bold steps towards this meaningful transformation. Through NAMB’s partnership with Pendella, we are building plans that accomplish the goals of lowering cost and providing better access to health care as part of our AHP strategy. We are counting on you, the leaders of small businesses, to step up and be the catalyst to help lead this movement. The Journal of the American Medical Association reported that “[i]n 2016, the United States spent nearly twice as much as 10 highincome countries on medical care and performed less well on many population health outcomes.” The World Health Organization ranks the United States 37th in “measuring the performance of our healthcare system.” The primary reasons for these dismal results are clear: U.S. drugs are more expensive, doctors and hospitals cost more, and significantly more money goes into the administration, planning, regulating, and managing of medical services and insurance plans as compared to other high-income countries. The above, combined with the fact that we are getting older and are incredibly unhealthy as a nation, helps to tell the full story. Unfortunately, these realities are trending in the wrong direction with no definitive end in sight.

When Amazon, Berkshire Hathaway, and JP Morgan Chase (ABC) decided to begin building the next generation of health plans in 2018 for their 1.2 million employees, I became engrossed in researching the strategies that Amazon might pursue. My ultimate goal was to compare this to the new strategies that next-generation benefit professionals are using (or could be using) today. Here’s what I uncovered, along with what the conventional wisdom and pundits surmised they would build into their next generation health plans: l Transparent pricing l Cut out the middleman l Supply chain management l Patient data—Information in one place l Reconsider where care takes place l Telemedicine/AI-driven diagnostics l Tackle the cost of Chronic Care l Genomics Revolution—AI, Big Data l Leverage community l Moral margins What’s interesting about these leading-edge solutions is that most are deployable today, yet few entities are actually using them. NAMB and Pendella will utilize many of these strategies within a unique portfolio of health plans that not only control spending, but that also provide better access to care and move individuals towards wellness. As an NAMB member, you will have access to plans that provide: l More affordable pricing l More coverage options l Less regulatory burden and complexity l Reduced administrative costs “NAMB is thrilled to be able to offer an Association Health Care Plan to its members,” said Rick Bettencourt, NAMB President. “Health insurance is one of the largest costs to employers every year, and if we can help reduce that cost it would be a true benefit!” The steps to real change In order to build an attractive Association Health Plan, we need two critical elements: data and critical mass (via participation). The following is the three-step process that will allow us to achieve this together: 1. Look for and complete the NAMB Association Health Plan Survey that has arrived, or will be arriving in your e-mail inbox. Survey information will be deployed to all states in order to determine level-of-interest among NAMB members (as well as among nonmember mortgage professionals) and to take the next step in building the appropriate plans. 2. Become an NAMB member. In order to participate in the NAMB Association Health Plan, one must be an NAMB member. 3. Request a quote from Pendella at https://www.pendella.com/namb. A quote request can be submitted online today in order to begin the proposal process to help us build critical mass (or participation) for the NAMB Association Health Plan. Better health, access to healthcare, and reasonably priced insurance plans are all within our reach. Our goal is to provide plans that meet employers and employees where they are financially; not force them into a system that isn’t working. We need you—business leaders, employers, and like-minded mortgage professionals—to be a part of this positive change. Michael Haffey is Managing Partner, Association Member Benefits for Pendella. Michael’s passion is creating and deploying innovative strategies to assist employers and their employees in controlling their health insurance spend, while allowing access to the best healthcare and moving them towards real wellness and total health spans over 30 years. He may be reached by phone at (833) 7363355, ext. 706 or e-mail Michael@Pendella.com.

N A M B

P E R S P E C T I V E

NAMB Certification Committee Update By Linda McCoy, CRMS, CVLS

Friday, May 3, 2019 8:30 a.m.-5:00 p.m. Liaison Washington Capitol Hill 415 New Jersey Avenue NW Washington, D.C. Is your focus on VA loans? Would you like to separate yourself from the competition? Don’t miss this opportunity to become approved for NAMB’s newest certification, the Certified Veterans Loan Specialist (CVLS). Cost is only $149 for NAMB Members and $249 for Non-members and includes Continental Breakfast and lunch as well. VA loans are an amazing benefit that veterans have earned, and it’s our responsibility as Loan Originators to help them take advantage of it. But to maximize that benefit, a veterans needs their Loan Officer to know all the nuances. Lender guidelines often cover the top level information and you can do a VA deal from them. However, those guidelines miss the “how” for many of the subtle details of VA loans, and often include limitations that can be worked around if you know how. With this extra information, you’ll be able to get deals done that nobody else can, help more veterans in the process, and stand out to referral partners. In case you’re wondering, it doesn’t matter if you’re in a military town. In a non-military town, it’s likely you’ll be the only VA expert. Which will make you stand out even more. The certification training will cover all the basics but, it’ll also dig into super advanced topics like: l Proving eligibility for everyone including reservists and surviving spouses l Tips for getting DU & LP approvals, and why manual underwriting isn’t something to be feared l The truth about VA appraisals and especially “Tidewater” l Ways to find double the number of VA-approved condos l New rules around refinances and being ready for when that market returns l Weird stuff like assumptions, EEM, Rehab, non-owner occupant co-borrowers, etc. Immediately following the class, a test will be given and, upon passing, you will be presented with your certification and all the marketing materials that you need to promote yourself! In addition, we’ll emphasize the detailed knowledge and stories that you can use to show your value to Real Estate Agents and help grow your business with VA as your niche. For more information, visit NAMB.org, contact NAMB Executive Director Valerie Saunders, by phone at (202) 434-8250 or email at valsaun@namb.org.

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Linda McCoy, CRMS, CVLS 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.

Obtain Your Certified Veterans Loan Specialist (CVLS) Certification!

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Educating, advocating and empowering our members is what NAMB is all about! Spring is here and the buyers are out house hunting. How do you get those buyers to call you instead of the other Mortgage Loan Officers competing to get their loan? Education! What sets you apart from your competition? Everyone has great rates and great service. Do you keep in touch with your clients? Are there any miraculous new ideas that we as Originators can implement to make someone want to do business with us. We interview our clients to see how fast they want to close. We decide what program we think might be the best for them. We check to see if they fall within the guidelines of the programs we choose and then talk to them about their options. We ask many questions to help us make the best decision for our clients, but you really need to know what you are doing to give your client the service they deserve. So, what distinguishes the professional from the order-taker? Education! Most great Real Estate Agents have many certifications after their name. They are seeking to be the best in their industry. Those individuals did not get to the top by sitting in their office eating donuts. They have worked hard to get the most education needed to be successful. We are all overdue for improving the services, knowledge and competency that all Originators should strive for … otherwise, it’s “Well, I have really good service and our rates beat everyone else’s.” Is that an advertising violation? Do they really beat everyone? And isn’t that what everyone else is telling them? Are you taking education classes voluntarily just to improve your knowledge and skills? If you are in this business for the right reason, the time is now to prove you have value. Have you earned any certifications yet? Why not? The answer is obvious. Until now, you haven’t seen any reason to obtain your certification or no one has piqued your interest enough to give you the desire to have one. Maybe you just have not seen a special certification that you thought would give you the upper hand on your competition. NAMB has had the Certified Residential Mortgage Specialist (CRMS), Certified Mortgage Consultant (CMC), General Mortgage Associate (GMA), and our newest, the Certified Veterans Loan Specialist (CVLS). We are introducing more courses in the coming months. You will have many choices of courses to choose from. Start searching for education at NAMB.org. How about just wanting to provide a higher level of professionalism for your customers? What about your referral partners? A Real Estate Agent that has three or four of their own credentials, should be referring their clients to mortgage professionals who also have credentials. Get your certifications and go after them. The next live class we are offering is the CVLS (Certified Veterans Loan Specialist) Certification on Friday, May 3 at the Liaison Capitol Hill in Washington, D.C. This class is the day before our NAMB Legislative & Regulatory Conference, set for Saturday-Tuesday, May 4-7 at the same hotel. For more information, see the information to the right. NAMB has always been about educating its members since our beginning in 1973. We have not changed and only look to improving upon this.

N A M B

P E R S P E C T I V E

NAMB Road Show—Iowa Thursday, April 18 West Des Moines Marriott 1250 Jordan Creek Parkway • West Des Moines, Iowa 8:30 a.m.-4:00 p.m. Join NAMB and the Mortgage Professionals of Iowa on Thursday, April 18 from 8:30 a.m.-4:00 p.m. at the West Des Moines Marriott, located at 1250 Jordan Creek Parkway in West Des Moines, Iowa for our NAMB Road Show—Iowa! This event will be 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! Agenda includes: 8:30 a.m.-9:00 a.m. Registration 9:00 a.m.-9:05 a.m. Welcome Address From NAMB President Rick Bettencourt, CRMS

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9:05 a.m.-10:20 a.m. “What’s the 411 on the Available Affordable Products and Tools?” Presented by Sandra Heidinger, Freddie Mac Hear about the affordable and first time homebuyer products and tools available in the market from Sandra Heidinger, AMP, Freddie Mac Affordable Lending Manager, North Central Region, SingleFamily Affordable Lending and Access to Credit. 10:30 a.m.-11:50 a.m. Getting Off the Loan Officer Rollercoaster Presented by Ralph Watkins Have you wondered why some loan officers are having their best month ever, while others are seeing significant decreases? Do you find yourself having one great month, followed by a slow month, you know, the “Loan Officer Rollercoaster?” As a member of the Board of Directors of one of the most successful mortgage branches in the nation, Ralph Watkins is going to map out for you how to have ever increasing months of high production, by eliminating the “good month followed by a slow month,” and “who does what” with the most successful Loan Officers throughout the nation. Noon-12:50 p.m. Lunch With NAMB President Rick Bettencourt, CRMS 1:00 p.m.-2:20 p.m. Session Featuring Freddie Mac’s Focus on Technology 2:30 p.m.-4:00 p.m. The Perfect Week for a Top Loan Officer Presented by Ralph Watkins In this session, Ralph Watkins will map out “The Perfect Week” to closing more loans, all while having less stress, and more time off. This will be a step-by-step list of very specific activities for you to do each day of the week to maximize lead generation and lead conversion with specific scripts, texts, and emails samples all provided. For more information, visit NAMB.org, contact NAMB Executive Director Valerie Saunders, by phone at (202) 434-8250 or e-mail at valsaun@namb.org.

NAMB 2019 Legislative & Conference Saturday-Tuesday, May 4-7 Liaison Capitol Hill Hotel 415 New Jersey Avenue NW • Washington, D.C. The NAMB 2019 Legislative & Conference will be held SaturdayTuesday, May 4-7, 2019 at the Liaison Capitol Hill Hotel, 415 New Jersey Avenue NW in Washington, D.C. D.C. insiders, food-and-winers, and sophisticated overnighters praise the Liaison Capitol Hill’s stylish rooms, modern décor, and proximity to the city’s historic landmarks and attractions such as Capitol Hill, Union Station, the National Mall, and Smithsonian museums. With a playful, D.C.-inspired lobby art collection, contemporary comfort, the city’s largest rooftop pool, and the award-winning restaurant Art and Soul, this pet-friendly boutique hotel is a welcome gathering place for neighborhood residents, Capitol Hill professionals and travelers. Cost for this event is $249 per person until April 11, 2019. In addition, if you register and make your hotel reservation by April 11, 2019, one night of your hotel will be free. You must reserve your own hotel room as part of your stay. Prior to your departure date, one night of your hotel room will be applied to the master account. The price after April 11 is $299 per person with no credit applied towards hotel. This NAMB Members-Only event features:

Saturday, May 4 Noon-5:00 p.m. NAMB Board Meeting 5:00 p.m.-7:00 p.m. Welcome Reception

Sunday, May 5 10:00 a.m.-Noon NAMB Government Affairs Committee Meeting Meeting will include brunch. Government Affairs Committee Chair Marty Pfeiffenberger will provide an in-depth overview of what’s happening in Washington, D.C., NAMB’s focus and more. Noon-1:30 p.m. NAMB Membership Committee Meeting Led by Committee Chair Kimber White, CRMS, the Membership Committee’s responsibilities include the implementation of an annual membership promotion campaign. Noon-1:30 p.m. NAMB Conference Committee Meeting Let by Committee Chair Linda Knowlton, the Conference Committee is responsible for planning and organizing official meetings, conferences and events for the association. Noon-1:30 p.m. NAMB Bylaws Committee Meeting Led by Chairman Mike DeSantis, NAMB’s Bylaws Committee is responsible for reviewing the bylaws and proposing changes as necessary to the Board of Directors. This is a Closed Meeting. 1:30 p.m.-3:00 p.m. NAMB FHA Committee Led by Committee Chair John Porter, NAMB’s FHA Committee reviews

LOAN OFFICERS RETAI A L SALES MANA M GERS the policies, underwriting guidelines and activities of the Federal Housing Administration (FHA) and the Department of Housing & Urban Development (HUD). 1:30 p.m.-3:00 p.m. NAMB VA Committee Meeting Led by Chair Ken Bates, the Veterans Affairs Committee reviews the policies, underwriting guidelines and activities of the Department of Veterans Affairs. 1:30 p.m.-3:00 p.m. NAMB PAC Committee Meeting Led by Chairman John G. Stevens, CRMS, NAMBPAC is the National Association of Mortgage Brokersâ&#x20AC;&#x2122; voluntary, non-partisan Political Action Committee (PAC). This is the only Political Action Committee that represents Mortgage Brokersâ&#x20AC;&#x2122; interests on Capitol Hill. 3:00 p.m.-5:00 p.m. NAMB Delegate Council Meeting Chaired by NAMB President-Elect Rocke Andrews, CMC, CRMS, the Delegate Council is the body responsible for representing and serving as a forum for expressing and realizing regional interests and concerns. 6:00 p.m.-9:00 p.m. NAMB PAC Reception

Monday, May 6 9:00 a.m.-5:00 p.m. NAMB Legislative Meeting Agenda to be finalized shortly, however, invited guests include U.S. Secretary of Housing and Urban Development Ben Carson, leadership from Veterans Affairs, leadership from the Consumer Finance Protection Bureau and leadership from the State Regulatory Registry who manage the Nationwide Mortgage Licensing System.

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Tuesday, May 7

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 For more information, visit NAMB.org, contact NAMB Executive Director Valerie Saunders, by phone at (202) 434-8250 or e-mail at valsaun@namb.org.

Saturday-Monday, September 14-16, 2019

2019 NAMB National Conference & Trade Show Caesar's Palace â&#x20AC;˘ Las Vegas Join NAMB at the nationâ&#x20AC;&#x2122;s most-attended mortgage-focused event by the countryâ&#x20AC;&#x2122;s top mortgage professionals! Details will be made available in the coming months. For more information, contact NAMB Executive Director Valerie Saunders at (202) 434-8250, e-mail ValSaun@NAMB.org or visit NAMB.org.

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NAMB National returns to Vegas in 2019

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8:00 a.m.-9:30 a.m. Lobby Day Breakfast With NAMB

Addressing Post-Housing Crisis Issues

There’s a Changing of the Tide in the Independent Loan Originator Business … We Are Ready! BY PAM MARRON

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ecause more banking institutions are reducing Loan Originator positions, independent Loan Originator companies are experiencing an increase as those laid off migrate to independent mortgage companies. And even though housing sales activity has decreased in some areas, independent mortgage companies are doing well by adding needed housing finance programs such as renovation loans, HELOC’s and downpayment assistance programs to their menu of business. An explosion of new mortgage technology that assists mortgage professionals is now readily available and offers savvy Loan Originators the tools needed to connect a customer relation management (CRM) system, a loan operating system (LOS) and a postclosing follow-up system with past loan clients. A growing number of wholesalers provide competitive qualified mortgage (QM) pricing that allows independent Loan Originators to compete with banks. In fact, options to pick customized private mortgage insurance (PMI) that provides lower payments for borrowers with better credit scores enables independent Loan Originators to provide lower overall housing payments than competing banks. Also within the last year, mortgage wholesalers have finally offered first mortgages, both conventional and government, where downpayment assistance is

provided by the wholesaler. In some states, providing state-run downpayment assistance to homebuyers has not been available to independent Loan Originators and is only available to a select number of banks and lending institutions. Having wholesale mortgage programs that provide downpayment assistance has put the independent Loan Originator on a comparable playing field and often provides lower interest rates to qualified consumers. What continues to be a challenge is the perception of an independent Loan Originator. When the housing crisis started in 2008, independent Loan Originators, also called Mortgage Brokers, were blamed for the crash. Unscrupulous activity, such as price gouging and selling risky mortgages, were common headlines initially attached to Mortgage Brokers … and then found to be just as prevalent in banking institutions years later. But over the last eight years, a hard look was taken of the entire mortgage industry, and the result is safeguards primarily put in place by the Consumer Financial Protection Bureau (CFPB) to protect the consumer. For all Loan Originators, whether at a banking institution or as an independent Loan Officer, gouging is not possible now because of a cap on compensation placed on income for Qualified Mortgage (QM) products. Any third-party cost must be acceptable in a Qualified Mortgage calculation or it cannot be included. Third-party appraisal

management companies (AMCs) work independently of Loan Originators, Realtors and even most lenders to ensure that property values are not swayed by any of the parties to a contract. And though non-QM mortgages (previously called sub-prime mortgages) have returned, the majority of them have lower loan to values that require more money down and no prepayment penalty. Collaborations between independent Loan Originator companies and agencies that can help those who are striving for homeownership are occurring now more than ever. A bridge between HUD-approved housing counseling agencies and independent Loan Originators is currently being worked on specifically so that Loan Originators can refer clients that still need professional help to get credit corrected, counseling done for downpayment assistance (DPA), and direction and evaluation for available DPA programs. A method where the Loan Originator can provide a credit towards closing costs on a home mortgage for clients that get services from a HUD-approved housing counselor

is being developed now. This method is being developed to provide the same opportunity that a Loan Officer has at a bank where CRA (Community Reinvestment Act) funds are used to pay for housing counseling services to provide that same housing counseling opportunity to a consumer if the Loan Officer becomes an independent Loan Originator. In spite of these changes for the better, some still think that the consumer cost is more when using an independent Loan Originator. This is where independent Loan Originators need to know the variety of wholesale programs and tools available to prove otherwise. From April 11-12 on the West Coast of Florida, the combined Gulf Coast and Suncoast Chapters of the Florida Association of Mortgage Professionals (FAMP) will be presenting an Online Technology Day and in-person Trade Show to showcase many of the tools that can help you work as an independent loan originator. For more information, visit GulfCoastFAMP.com. Stay tuned.

Disclaimer: While I am a member of the HUD Housing Counseling Federal Advisory Committee, the opinions noted are those of the author only. Pam Marron (NMLS#: 246438) is Senior Loan Originator with Innovative Mortgage Services Inc. (NMLS#: 250769) in Tampa Bay, Fla. She may be reached by phone at (727) 3758986, e-mail PMarron@InnovativeMortgage.onmicrosoft.com or visit HousingCrisisStories.com, CloseWithPam.com or 8Problems.com.

NAMB+ is an independent, wholly-owned, for-profit marketing subsidiary of NAMB, The Association of Mortgage Professionals. Dear Mortgage Professional, Another NAMB Focus Conference has come and gone and we were excited to see some of our new Endorsed Providers presenting at the Show. We are pleased to Welcome FocusIT and National MI as new members of the NAMB Plus family. Their information, as well as all other Endorsed Providers, is available at www.nambplus.com. NAMB’s Association Health Plan is getting ready to launch on April 1st. We have reached out to State Leadership with our updated Affiliation Agreement and launched a survey which is needed to help identify the needs of our Membership. If you have received the survey but not yet filled this out, I encourage you to do so today. The more surveys we get back the more expansive offerings may become available with the best pricing options!

We also encourage you to explore the NEW non-traditional (non-insurance) NAMB member benefits that we launched in partnership with Pendella at NAMB National in December. We also hope you’ll look at integrating your leads with your LOS, automating your email marketing and more with the brand new NAMB+ CRM, powered by Pulse - our customer relationship management system designed exclusively for mortgage professionals! More information can be found at www.namb.org. 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. Let us show you how we can help you succeed! Avantus is a technologydriven full-service credit reporting company delivering best-in-class credit and verification solutions to the nation’s financial community for over 75 years. NAMB members receive a discount off Brokers Compliance Group compliance support programs.

What if you could supercharge those lagging leads? Thanks to the Pulse CRM, you can! Pulse will give you the tools to have

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.

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

MortgageHippo Swift allows loan originators of all sizes to deliver a modern borrowing experience, significantly improve borrower conversions, reduce origination costs and integrate with other innovative technologies in the mortgage industry. NAMB members will receive a 25% discount. National Mortgage Insurance Corporation (National MI) is a private mortgage insurer enabling low down payment borrowers to realize homeownership while protecting lenders and investors against losses when borrowers default. http://www.nationalmi.com. 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.

27 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.

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.

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CIC Credit - Tri-merge Credit, Employment Screening, & Much More. Businesses have looked to CIC Credit for expertise on Business Screening, Credit Reports, Mortgage Credit Reports, and Employment Screening for decades. With over 100 years of credit related experience, it's no surprise that CIC Credit is a leader in providing quality products to help clients qualify borrowers, mitigate risk, and ensure compliance.

NAMB Members will receive a Twenty-Five Percent (25%) discount off of the regular price with their NAMB Membership.

NationalMortgageProfessional.com

For over fifteen years, Camber Marketing Group has been the premier lead generation, data solutions and direct mail marketing company for the mortgage and financial services industry. From this perspective our goal is to help NAMB members generate profitable response and maximize their return on investment.

your marketing done-for-you, ditch the spreadsheets and show your team how vital having an effective pipeline is. Learn more by visiting focusitinc.com.

Universal Credit Services is a Top Ranked, National Credit Reporting Agency and Authorized Report Supplier for Fannie Mae Day 1 Certainty® offering products and services from origination to closing. Universal provides TriMerged Credit Reports, Verification of Employment Reports, VOD's, 4506T's, Marketing Services, Flood, Fraud, and Appraisal Management Services.

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!

Goals o Which I hat do you do about goals? How important are they to you? Are they the key to originating more business, or is your system for originating business more or less important? What system do you like using? Do you even have a system? There is much discussion about these two subjects, and I’m in the middle of a maelstrom concerning them. I’m seeing different age groups take a stance that they defend with all their might and won’t give an inch of ground on their position. I’ve always believed that it was such a simple set of subjects to comprehend. But with that said, it seems that so many people hate being put in a box about their time, their sales approach and their overall marketing plan. The various methods are reduced, in my simplistic approach to what Bill Schor taught me so many years ago. If you’re new to my writing, it was 1972 and I was assistant to the President of a small southern New Jersey mortgage company. Bill had hired me because he needed to free himself up to do more important tasks that he had decided were much more important than the tasks he could relegate to someone who had only five years of experience. He plucked me out of a basket of chicks that were pecking their way through the mortgage industry going from one company to another. I had been working for close to four years as the “Loan Delivery Administrator” of a company that had a stranglehold on much of the territory we covered. We were doing incredibly well. My learning curve was almost line straight up the chart. Every day was an adventure. But attaining an officer ship was not going to happen. I was much too much a smart ass. It was time for me to go and Bill was searching and willing to teach me what

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The

Mortgage

Godfather

or a System... Is More Important he was an expert at: Dealing with people in a positive way. He took me on and about a year later, long story short, he created a salesperson from the ground beneath our feet. It was a far from my life goal as I could imagine, but if I was going to be relegated to that fate, I might as well learn from the best. He had a system, tied to goals. The goals were tied together from an annual set, based on dollars I wanted to earn, deals I needed to produce done to monthly and then weekly goals. Simple and straight forward. The achievement of goals was tied to a daily, weekly and monthly plan that I better not deviate from or the trouble that would surround me would cause me great harm. You want to know a system that worked like a charm? Sure you do, but instituting it in today’s market is insane, seeing as how so many of you get so involved in the processing of your loans. So, before I tell you what I did, know that I am sensitive to your plight. I know from which I speak. I know full well what you do every day. Before I tell you, think about how to start this, be prepared to be utterly shocked and figure out how you can attain some semblance of life-work balance to achieve your goals. That will come second, because if you can do any semblance of what Bill demanded of me, the achievement of your goals, getting to the top of the mountain that you so desperately desire is definitely possible, but no matter that I write, it cannot be done as I did it. Bill agreed to pay me a weekly draw of $200. This money was equivalent to my annual salary at the time, but I had to do what he said, every day, every week with no diversion from the plan he laid out for me. And believe me, it worked. I eventually started to make more money than you will believe. I became a star

almost overnight, and all because he devised a system for me that was demanding of my time, my mental ability, my physical strength and truth be told, I wound up losing my family. But I was successful. I do not think you should do what I did, but as a frame of reference, if you can devise something like it, you too can be a superstar. He set me up with two house accounts. That meant that I had two producing offices right out of the gate. He set me up to make $25,000 dollars a year. That was 50 percent of our top producer back then. He demanded that when I called on a real estate office, I need to write down who I spoke to, what they said, and if they were working on a deal, I needed to get as much information as possible about the deal so he could offer and hints. He read that report every week for six months before he turned me loose, because by then I was far in excess of the $25,000. Here was the secret. I had to call on, that means visit 20 offices a day, 100 a week. And when any of you tell me about closed offices, believe me I heard about it at every turn of the steering wheel. There were mortgage companies owned by title companies who paid. Either monthly or per deal. We paid nothing. I’ve never been sure if it was because of his ethics or just that he thought he didn’t need to because the five of us, his sales staff, did pretty well every year I worked there. He was a genius at math, sales, marketing, people and management. I learned more about my craft by being with him than I ever did after him. So, you tell me life/business is hard? Try to call on 20 offices a day. Try! A one-word sentence. You don’t have the discipline. I challenge you. Oh, and not to dismiss the need to have goals, either actually achievable or slightly beyond your reach, or ten times what you think you can attain, it matters not, at least to me. Sure, I want you to have them, I

BY RALPH LOVUOLO SR.

believe in writing them down, require timeliness, be somewhat attainable or reasonable. Yet even with Bill asking me ever Monday morning, along with the other salespeople what we were going to produce in business that week, I’m leaning against the pole of system, because if you have a system, the goals will be realized ten-fold. Summing up my foray into solving the problem of system versus goals, there needs to be both, but goals cannot be

achieved without a great workable, repeatable system. Please never tell me how much your competitors are paying for Zillow leads, to rent a room, some fancy MSA, that a door sergeant stops you at the door, because I’ve seen it all. You can fight through all of this if you have the drive, desire and discipline. If you want forms for goals, an action plan and ideas that will make your life better, just send me a note at Ralph@MortgageGodfather.com.

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.

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.

UWM Ranked Top Wholesale Lender for Fourth Consecutive Year

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United Wholesale Mortgage (UWM) produced a company record $41.5 billion in loan volume in 2018, as it finished out the year as the number one wholesale mortgage lender for residential loans in the U.S., according to data compiled by Inside Mortgage Finance. Leading the wholesale channel for the fourth year in a row, UWM’s production marked a 41 percent increase from its 2017 total ($29.5 billion), as the lender closed more than 145,000 home loans throughout the country and earned 22 percent of wholesale market share, sparked by a 52 percent year-over-year increase in loan volume in Q3. “Finishing the year as the number one wholesale lender in America for the fourth straight year is a major accomplishment for our team, and the huge growth we’ve experienced speaks volumes about how much the Mortgage Broker channel is growing and thriving,” said Mat Ishbia, President and Chief Executive Officer of United Wholesale Mortgage. “Every one of our more than 3,000 team members are all-in for Mortgage Brokers, and our commitment to exceeding client expectations by offering the best service, technology, partnership tools and pricing has rallied brokers around UWM.” UWM’s success extended beyond the wholesale channel, as it passed Bank of America to

become the fourth-ranked overall mortgage lender in America, only behind Quicken Loans, Wells Fargo and Chase. UWM was also the fastest growing lender in the entire mortgage market for 2018. UWM grew its team by 500 people in 2018 and plans to hire around 800 more people in 2019, and in January, the company announced a major change to its pricing philosophy, removing all state adjustments and many Loan Level Price Adjustments (LLPA) as well. Class Valuation Announces Tech Partnership With InsideMaps

Class Valuation has announced that it has made an equity investment in and is partnering with InsideMaps, a technology company using computer vision to digitize the home, to lead innovation within the valuation and mortgage space. This partnership will allow Class Valuation to develop modern solutions designed to meet the needs of the evolving mortgage industry. InsideMaps’ technology generates 3D tours and models of both the interior and exterior of homes while also generating a detailed data set. Their easy and affordable solution can be deployed at scale while also ensuring consistent, high-quality results each and every time. “We could not be more excited about partnering with Class Valuation,” said Founder and Chief Executive Officer of InsideMaps, George Bolanos. “Class Valuation’s proven execution strength and entrepreneurial speed make them ideally suited to spark industry-

wide adoption of this nextgeneration home inspection process.” Class Valuation plans to roll out the new technology through a phased approach, partnering with industry stakeholders to ensure it meets the needs of lenders, appraisers, providers, and governing bodies. “There are many benefits of having a digital rendering of the home as we modernize the appraisal process including, but not limited to, bringing consistency and credibility to the inspection of a property. Furthermore, it provides a lasting impression of the home at the time of inspection, which provides many downstream benefits–one of the most important being fraud prevention,” said Class Valuation Chief Innovation Officer, Scot Rose. Class Valuation Chief Executive Officer and Partner Mike Detwiler said, “We know our industry is on the brink of change within the valuation space, and it will take leaders in every category partnering together to bring about the future. We are committed to being that driving force and see InsideMaps as just one way we will help the industry move towards sustainable, long-term modernization.” Motto Mortgage Recognized by Entrepreneur as a FastestGrowing Franchise

Entrepreneur magazine has named Motto Mortgage as one of the fastest-growing franchise

brands in 2019. The ranking of 150 franchises placed Motto Franchising LLC in the top half of the list, with an overall ranking of 72. This marks the first year the franchisor has been included in the annual list. With more than 100 franchises sold and nearly 80 offices open in 30 states, Motto Franchising’s unique national franchise mortgage brokerage model is the first of its kind in the United States. Motto Mortgage was established in October 2016 and sold 50 franchises in its inaugural year in business, and sold the 100th Motto Mortgage franchise, just 23 months after its launch. “We are proud to be named as an Entrepreneur magazine 2019 fastest-growing franchise. Earning a place among some of the most respected franchise brands with only two years under our belt is an incredible accomplishment,” said Ward Morrison, President of Motto Franchising LLC. “Our growth really showcases how revolutionary the Motto Mortgage model is. It’s an incredibly exciting thing to be part of.” This is not the first time Motto Franchising has been recognized for its growth. Last year, Franchise Grade named Motto Mortgage among the top one percent fastest-growing emerging franchises in 2018, according to an analysis of more than 2,500 franchise systems. FocusIT Joins NAMB+ as an Endorsed Provider

NAMB+ Inc., the for-profit marketing and communications subsidiary of NAMB, has

Ellie Mae, a Pleasanton, Calif.based cloud-based platform provider for the mortgage finance industry, has been acquired by Thoma Bravo LLC, a private equity investment firm, in an allcash transaction valued at $3.7 billion. Under the terms of the agreement, all Ellie Mae shareholders will receive $99 in cash per share. The agreement also includes a 35 day “go-shop”

committed to our customers’ success, innovation and growth of the Encompass Digital Lending Platform while maintaining our position as a best place to work.” Holden Spaht, a Managing Partner at Thoma Bravo, said, “Ellie Mae delivers powerful and innovative mortgage technology solutions across every channel of the residential mortgage sector, enabling lenders to originate more loans while reducing costs and driving efficiency, quality and compliance throughout the mortgage process. Ellie Mae is leading the digital transformation of the residential mortgage

industry and we look forward to building on the company’s successes and to our partnership through this next chapter of growth.” ISGN Rebrands as Sourcepoint ISGN Solutions has announced that it has changed its name to Sourcepoint. The new name reflects both the company’s heritage and focus. As a member continued on page 63

n National Mortgage Professional Magazine n MARCH 2019

Ellie Mae Acquired for $3.7B by Private Equity Firm

period that enables Ellie Mae to solicit and enter negotiations with parties that make alternative acquisition proposals. “Since the founding of Ellie Mae more than 20 years ago, our mission has been simple–to automate everything automatable for the residential mortgage industry,” said Jonathan Corr, President and Chief Executive Officer of Ellie Mae. “As we enter this next phase of our digital mortgage journey, we are thrilled to provide immediate value to our shareholders. With the investment and support from Thoma Bravo, we will remain

NationalMortgageProfessional.com

announced that Scottsdale, Ariz.based Focus IT has become a NAMB+ Endorsed Provider. FocusIT’s Pulse CRM was built for mortgage professionals looking to grow their businesses and save hundreds of hours per year. “Pulse CRM boasts many notable features, such as being able to supercharge your loan origination system and provide lead management tools, automated e-mail marketing, loan status alerts and intelligent task management—so you don’t have to,” said Josh Bopp, President and Founder of FocusIT. “FocusIT is proud and excited to work with NAMB+ to offer NAMB members technology services, including customizable lead intake forms and LO landing pages, automated loan status alerts, customizable pipelines to keep a team up-to-date on all current happenings, setup donefor-you marketing with e-mail campaigns, and automatic workflows triggered by loan type, funding date or team member to keep team members on track.” NAMB+ connects NAMB members with an array of Endorsed Providers aimed at helping mortgage professionals gain a competitive advantage in today’s marketplace with discounts and special programs only available to NAMB members. NAMB+ brings everything from compliance, digital mortgage platforms, lead generation, insurance services, social media and much more to NAMB members as part of the NAMB+ program. “NAMB+ is pleased to welcome FocusIT as an Endorsed Provider,” said Mike DeSantis, NAMB+ President. “Our NAMB members will truly benefit from their innovative CRM to keep their pipelines flowing smoothly.”

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The National Association of Minority Mortgage Bankers of America (NAMMBA) and National Mortgage Professional Magazine have complied a list of the top Women and Minority Mortgage Loan Originators (MLOs) in the nation, ranked by the top 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 NAMMBAâ&#x20AC;&#x2122;s Top 100 on being recognized for this honor â&#x20AC;Ś

NAMMBA Top 100 by Dollar Volume Ken Cheung Homebridge Financial Services Ken.Cheung@Homebridge.com Total Dollar Volume in 2018: $173,740,103

Mona Edick Bay Equity Home Loans Mona@BAYEQ.com Total Dollar Volume in 2018: $82,393,854

Anita Aguilar Cardinal Financial Anita@AnitaHomeLoan.com Total Dollar Volume in 2018: $45,426,561

Karen Chiu New American Funding Karen.Chiu@NAFInc.com Total Dollar Volume in 2018: $55,365,171

Camilo Escalante The Federal Savings Bank CEscalante@TheFederalSavingsBank.com Total Dollar Volume in 2018: $40,434,346

Shannon Alexander Fairway Independent Mortgage Corporation ShannonA@FairwayMC.com Total Dollar Volume in 2018: $48,142,108

Diane Clark Prime Lending DClark@PrimeLending.com Total Dollar Volume in 2018: $120,208,706

Pablo Estrada HomeBridge Financial Services Pablo.Estrada@Homebridge.com Total Dollar Volume in 2018: $36,619,787

Tanja Allen Fairway Independent Mortgage Corporation TanjaA@FairwayMC.com Total Dollar Volume in 2018: $80,913,257

Yvette Clermont Inlanta Mortgage YvetteClermont@Inlanta.com Total Dollar Volume in 2018: $55,267,279

Jackie Fields Atlantic Coast Mortgage LLC JFields@ACMLLC.com Total Dollar Volume in 2018: $39,158,175

Mindy Ashdown Academy Mortgage Corporation Mindy.Ashdown@AcademyMortgage.com Total Dollar Volume in 2018: $113,469,943

Carlo Colantonio CMG Financial CColantonio@CMGFI.com Total Dollar Volume in 2018: $45,344,827

Charadie Finkle Academy Mortgage Corporation Charadie.Finkle@AcademyMortgage.com Total Dollar Volume in 2018: $49,180,562

Rosa Briggs American Pacific Mortgage Rosa.Briggs@APMortgage.com Total Dollar Volume in 2018: $55,723,924

Siobhan Costello DHI Mortgage SiCostello@DHIMortgage.com Total Dollar Volume in 2018: $56,825,074

Jane Floyd NFM Lending JFloyd@NFMLending.com Total Dollar Volume in 2018: $89,955,718

Michelle Bruto da Costa Homebridge Financial Services MBrutodaCosta@Homebridge.com Total Dollar Volume in 2018: $43,423,346

Summer Crown DHI Mortgage SPCrown@DHIMortgage.com Total Dollar Volume in 2018: $41,247,119

Marcey Fortune DHI Mortgage MRFortune@DHIMortgage.com Total Dollar Volume in 2018: $50,778,213

Candace Buzan New American Funding Candy@CandyBuzan.com Total Dollar Volume in 2018: $56,760,149

Delta Culpepper DHI Mortgage DDCulpepper@DHIMortgage.com Total Dollar Volume in 2018: $71,029,748

Diane Fry Fairway Independent Mortgage Corporation DianeF@FairwayMC.com Total Dollar Volume in 2018: $60,512,060

Melissa Caci Residential Mortgage Services Melissa.Caci@RMSMortgage.com Total Dollar Volume in 2018: $36,825,945

Carey Cann Cyr CMG Financial CareyAnn@CMGFi.com Total Dollar Volume in 2018: $146,835,733

Felicia Garza DHI Mortgage FMGarza@DHIMortgage.com Total Dollar Volume in 2018: $44,135,616

Kiki Calumet A&N Mortgage Services Inc. KCalumet@ANMtg.com Total Dollar Volume in 2018: $44,709,713

Fernando Diaz Homebridge Financial Services Fernando.Diaz@Homebridge.com Total Dollar Volume in 2018: $60,712,900

Lindsey Goins Movement Mortgage Lindsey.Goins@Movement.com Total Dollar Volume in 2018: $92,560,213

Joseph Chacko C2 Financial Corp. JVChacko@gmail.com Total Dollar Volume in 2018: $65,218,716

Brenda Dintino New American Funding Brenda.Dintino@NAFInc.com Total Dollar Volume in 2018: $49,279,860

Caryn Grafton Atlantic Coast Mortgage LLC CGrafton@ACMLLC.com Total Dollar Volume in 2018: $51,484,674

Lynnae Aguilar Academy Mortgage Corporation Lynnae.Aguilar@AcademyMortgage.com Total Dollar Volume in 2018: $54,721,485

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Claudette Khachatourian Homebridge Financial Services Claudette.Khachatourian@Homebridge.com Total Dollar Volume in 2018: $73,637,797

Larry Mejia Union Bank Larry.Mejia@UnionBank.com Total Dollar Volume in 2018: $48,900,000

Tammy Hajjar Miller The Federal Savings Bank Tammy@TheFederalSavingsbank.com Total Dollar Volume in 2018: $36,850,978

Wendy Kotowske Prime Lending WendyK@PrimeLending.com Total Dollar Volume in 2018: $57,759,835

Rafael Mendez Union Bank Rafael.Mendez@UnionBank.com Total Dollar Volume in 2018: $62,000,000

Kasey Hampton DHI Mortgage KLHampton@DHIMortgage.com Total Dollar Volume in 2018: $68,495,964

Cindy Laffey Inlanta Mortgage CindyLaffey@Inlanta.com Total Dollar Volume in 2018: $41,308,653

Teresa Milchuck FirstBank Mortgage TMilchuck@FirstBankOnline.com Total Dollar Volume in 2018: 75,716,139

Kristi Hardy Atlantic Coast Mortgage Kristi@KristiHardy.com Total Dollar Volume in 2018: $74,142,391

Rudy Lopez Envoy Mortgage RLopez@EnvoyMortgage.com Total Dollar Volume in 2018: $45,330,070

Pam Miller Fairway Independent Mortgage Corporation PamM@FairwayMC.com Total Dollar Volume in 2018: $94,895,830

Michele Hendershot Homebridge Financial Services MHendershot@Homebridge.com Total Dollar Volume in 2018: $38,100,169

Jared Lucas Union Bank Jared.Lucas@UnionBank.com Total Dollar Volume in 2018: $44,900,000

Christopher Minjarez CMG Financial CMinjarez@CMGFi.com Total Dollar Volume in 2018: $76,984,955

Tyrell Hobbs Academy Mortgage Corporation Tyrell.Hobbs@AcademyMortgage.com Total Dollar Volume in 2018: $53,533,342

Jill Lyons CMG Financial JLyons@CMGFi.com Total Dollar Volume in 2018: $57,424,624

Colleen Mitchell Homebridge Financial Services CMitchell@Homebridge.com Total Dollar Volume in 2018: $40,151,187

Judy Hoffman Homebridge Financial Services Judy.Hoffman@Homebridge.com Total Dollar Volume in 2018: $37,809,089

Kimberly MacDonald US Bank Kimberly.MacDonald@USBank.com Total Dollar Volume in 2018: $38,122,673

Laurie Moore Fairway Independent Mortgage Corporation Laurie.Moore@FairwayMC.com Total Dollar Volume in 2018: $74,023,135

Lorri Hoffman Movement Mortgage Lorri.Hoffman@Movement.com Total Dollar Volume in 2018: $42,652,516

Amanda McCall Prime Lending AMcCall@PrimeLending.com Total Dollar Volume in 2018: $67,145,405

Erin Moore PrimeLending EMoore@PrimeLending.com Total Dollar Volume in 2018: $51,118,337

Julie Howell Prime Lending JHowell@PrimeLending.com Total Dollar Volume in 2018: $43,441,348

Janene McGowan Homebidge Financial Services JMcGowan@Homebridge.com Total Dollar Volume in 2018: $58,436,344

Claudia Mostaghasi Thrive Mortgage LLC Claudia.Motaghasi@HomeSourceMTG.com Total Dollar Volume in 2018: $44,637,188

Michelle Jacinto Direct Mortgage Loans MJacinto@DirectMortgageLoans.com Total Dollar Volume in 2018: $43,303,726

Barb McHenry Fairway Independent Mortgage Corporation BMcHenry@FairmayMC.com Total Dollar Volume in 2018: $75,624,844

Kyle Murata CMG Financial KMurata@CMGFi.com Total Dollar Volume in 2018: $40,767,060

April Janas Bay Equity Home Loans AJanas@BayEq.com Total Dollar Volume in 2018: $55,562,534

Ashley McKenzie Fairway Independent Mortgage Corporation AshleyM@FairwayMC.com Total Dollar Volume in 2018: $121,462,982

Thuan Nguyen Loan Factory Inc. Thuan@LoanFactory.com Total Dollar Volume in 2018: $162,922,584

Mary Keene Academy Mortgage Corporation Mary.Keene@AcademyMortgage.com Total Dollar Volume in 2018: $46,598,094

Dana Meadows Movement Mortgage Dana.Meadows@Movement.com Total Dollar Volume in 2018: $76,568,137

Phil Nguyen Atlantic Coast Mortgage LLC Phil@ACMLLC.com Total Dollar Volume in 2018: $108,109,017

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Norma Guerrero-Cowes DHI Mortgage NGuerrero-Cowes@DHIMortgage.com Total Dollar Volume in 2018: $77,788,955

Louise Thaxton Fairway Independent Mortgage Corporation LGThaxton@FairwayMC.com Total Dollar Volume in 2018: $69,493,908

Laura Parker DHI Mortgage LParker@DHIMortgage.com Total Dollar Volume in 2018: $40,499,120

Jodi Ryder Ryder Mortgage Group Jodi@RyderMortgageGroup.com Total Dollar Volume in 2018: $50,132,537

Brady Thomas LaSalle Mortgage, a Division of American Pacific Mortgage BThomas@LaSalleMortgage.com Total Dollar Volume in 2018: $111,354,415

Kathryn Pedersen Fidelity Mortgage, a Division of Bay Equity Home Loans Kathryn@FidelityMtg.com Total Dollar Volume in 2018: $51,617,908

Natalie Salins Movement Mortgage Natalie.Salins@Movement.com Total Dollar Volume in 2018: $60,640,158

Cynthia Tomlinson American Pacific Mortgage Cindy@USLendingCompany.com Total Dollar Volume in 2018: $73,491,957

Greta Pierpoint Academy Mortgage Corporation Greta.Pierpoint@AcademyMortgage.com Total Dollar Volume in 2018: $47,501,278

Dixie Sanders Homebridge Financial Services DSanders@Homebridge.com Total Dollar Volume in 2018: $54,898,601

Mya Tran-Harter MVB Mortgage MTran@MVBMortgage.com Total Dollar Volume in 2018: $60,703,113

Rose Pinto Homebridge Financial Services RPinto@Homebridge.com Total Dollar Volume in 2018: $43,202,146

Shanon Schinkel Homebridge Financial Services SSchinkel@Homebridge.com Total Dollar Volume in 2018: $50,436,555

Alexander Varela PrimeLending AVarela@PrimeLending.com Total Dollar Volume in 2018: $85,846,569

Kelly Price Wintrust Mortgage KPrice@WintrustMortgage.com Total Dollar Volume in 2018: $37,019,000

Patti Shaner Homebridge Financial Services PattiShaner@Homebridge.com Total Dollar Volume in 2018: $57,934,202

Neena Vlamis A&N Mortgage Services Inc. NeenaV@ANMTG.com Total Dollar Volume in 2018: $104,426,357

Stephany Puente Point Mortgage Stephany@PointMTG.com Total Dollar Volume in 2018: $37,076,940

Shashank Shekhar Arcus Lending Inc. Shashank@ArcusLending.com Total Dollar Volume in 2018: $180,317,584

Monica Wiggins DHI Mortgage MCarper@DHIMortgage.com Total Dollar Volume in 2018: $47,909,189

Andrew Quezada Prime Equity Mortgage AQuezada@PEMTG.com Total Dollar Volume in 2018: $74,614,565

Ashley Smith Atlantic Coast Mortgage LLC ASmith@ACMLLC.com Total Dollar Volume in 2018: $53,271,165

Jane Qian Homebridge Financial Services Jane.Qian@Homebridge.com Total Dollar Volume in 2018: $58,188,138

Laura Sosa-Rocha Witte Northpointe Bank Laura.Witte@Northpointe.com Total Dollar Volume in 2018: $66,173,954

Salvador Renteria DHI Mortgage SARenteria@DHIMortgage.com Total Dollar Volume in 2018: $43,242,357

Angie Stanley US Bank NA Angie.Stanley@USBank.com Total Dollar Volume in 2018: $49,720,641

Kelly Rogers Movement Mortgage Kelly.Rogers@Movement.com Total Dollar Volume in 2018: $49,352,924

Jenna Stiltner Atlantic Coast Mortgage LLC JStiltner@ACMLLC.com Total Dollar Volume in 2018: $42,592,768

Nicole Rueth Fairway Independent Mortgage Corporation NRueth@FairwayMC.com Total Dollar Volume in 2018: $113,602,174

Jessica Tallett Movement Mortgage Jessica.Tallett@Movement.com Total Dollar Volume in 2018: $41,805,886

Tara Ryan Fairway Independent Mortgage Corporation TRyan@FairwayMC.com Total Dollar Volume in 2018: $54,668,825

Thanhson Nguyen (Sonny) DHI Mortgage TDNguyen@DHIMortgage.com Total Dollar Volume in 2018: $44,041,681

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NAMMBA Top 100 by Loans Closed Melanie Boyajian Academy Mortgage Corporation Melanie.Boyajian@AcademyMortgage.com Total Loans Closed in 2018: 111

Tera Davis Academy Mortgage Corporation Tera.Davis@AcademyMortgage.com Total Loans Closed in 2018: 177

Anthony Angelillo PRMG AAngelillo@PRMG.net Total Loans Closed in 2018: 107

Cindy Brown CMG Financial CindyB@CMGFi.com Total Loans Closed in 2018: 87

Alex De La Cerda DeLaCerda Team DeLaCerdaTeam@gmail.com Total Loans Closed in 2018: 120

Kim Arrington New American Funding Kim.Arrington@NAFInc.com Total Loans Closed in 2018: 83

Jennifer Buckholz CMG Financial JBuckholz@CMGFi.com Total Loans Closed in 2018: 96

Mary Jo Downes The Federal Savings Bank MaryJo@TheFederalSavingsBank.com Total Loans Closed in 2018: 130

Shari Bell-Beals New American Funding Shari.BB@NAFInc.com Total Loans Closed in 2018: 126

Luis Caicedo New American Funding Luis.Caicedo@NAFInc.com Total Loans Closed in 2018: 85

Kelly Drummond Fairway Independent Mortgage Corporation KellyD@FairwayMC.com Total Loans Closed in 2018: 201

Rudy Benitez AnnieMac Home Mortgage RBenitez@Annie-Mac.com Total Loans Closed in 2018: 211

Mary Cazares The Federal Savings Bank MCazares@TheFederalSavingsBank.com Total Loans Closed in 2018: 96

Sandro Duardo PRMG SDuardo@PRMG.net Total Loans Closed in 2018: 95

Debbie Bennett Angel Oak Home Loans LLC Debbie.Bennett@AngelOakHomeLoans.com Total Loans Closed in 2018: 101

Bet Courtney MVB Mortgage BCourtney@MVBMortgage.com Total Loans Closed in 2018: 126

Belinda Dumas New American Funding Belinda.Dumas@NAFInc.com Total Loans Closed in 2018: 168

Amanda Benson Homebridge Financial Services ABenson@Homebridge.com Total Loans Closed in 2018: 94

Eddie Cristerna Barrett Financial Group Eddie@BarrettFinancial.com Total Loans Closed in 2018: 105

Andrew Engel NewDay USA AEngel@NewDayUSA.com Total Loans Closed in 2018: 85

Yashica Berry Renasant Bank Mortgage Yashica.Berry@Renasant.com Total Loans Closed in 2018: 118

Sara Cruz Inlanta Mortgage SaraCruz@Inlanta.com Total Loans Closed in 2018: 147

Kimberly England Point Mortgage KEngland@PointMTG.com Total Loans Closed in 2018: 102

Laura Besler Bay Equity Home Loans LBesler@BayEq.com Total Loans Closed in 2018: 130

Samantha Daily CMG Financial SDaily@CMGFi.com Total Loans Closed in 2018: 103

Heather Enochs New American Funding Heather.Enochs@NAFInc.com Total Loans Closed in 2018: 162

Steve Blake Prime Lending SBlake@PrimeLending.com Total Loans Closed in 2018: 157

Javier Daire PRMG JDaire@PRMG.net Total Loans Closed in 2018: 114

Amber Ernst New American Funding Amber.Ernst@NAFInc.com Total Loans Closed in 2018: 172

Erika Borrero Angel Oak Home Loans LLC Erika.Borrero@AngelOakHomeLoans.com Total Loans Closed in 2018: 84

Hanh Dao Loan Factory Hanh@LoanFactory.com Total Loans Closed in 2018: 124

Pablo Estrada HomeBridge Financial Services Pablo.Estrada@Homebridge.com Total Loans Closed in 2018: 224

Nichole Allison New American Funding Nichole.Allison@NAFInc.com Total Loans Closed in 2018: 136

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Christina Luna Prime Lending Christina.Luna@PrimeLending.com Total Loans Closed in 2018: 97

Nair Feliciano CMG Financial NFeliciano@CMGFi.com Total Loans Closed in 2018: 98

Vilma Hernandez PRMG VHernandez@PRMG.net Total Loans Closed in 2018: 81

Kimberly MacDonald US Bank Kimberly.MacDonald@USBank.com Total Loans Closed in 2018: 123

Shanna Field Wintrust Mortgage SField@WintrustMortgage.com Total Loans Closed in 2018: 116

Deb Higgins New American Funding Deb.Higgins@NAFInc.com Total Loans Closed in 2018: 206

Leila Martinez Homebridge Financial Services Leila.Martinez@Homebridge.com Total Loans Closed in 2018: 136

Jackie Fields Atlantic Coast Mortgage LLC JFields@ACMLLC.com Total Loans Closed in 2018: 82

Melinda Hodo BBVA Compass Melinda.Cofield@BBVA.com Total Loans Closed in 2018: 124

Angie Mata-Ramirez Prime Lending Angie.Mata@PrimeLending.com Total Loans Closed in 2018: 120

Carlos Foster SpiritBank CFoster@SpiritBank.com Total Loans Closed in 2018: 79

Debbie Howard CMG Financial DHoward@CMGFi.com Total Loans Closed in 2018: 108

Molly Meeker Bay Equity Home Loan Molly@BayEQ.com Total Loans Closed in 2018: 135

Gene Frazier Prime Lending GFrazier@PrimeLending.com Total Loans Closed in 2018: 95

Julie Howell Prime Lending JHowell@PrimeLending.com Total Loans Closed in 2018: 118

Daniel Mery American Pacific Mortgage Daniel.Mery@APMortgage.com Total Loans Closed in 2018: 108

Melissa Gibson New American Funding Melissa.Gibson@NAFInc.com Total Loans Closed in 2018: 190

Janine Iuliano PinPoint Mortgage, a Division of Bay Equity JIuliano@BayEQ.com Total Loans Closed in 2018: 136

Colleen Mitchell Homebridge Financial Services CMitchell@Homebridge.com Total Loans Closed in 2018: 205

Tania Guzman New American Funding Tania.Guzman@NAFInc.com Total Loans Closed in 2018: 236

Francisco Jara The Mortgage Phoenix Group, a Division of American Pacific Mortgage Francisco@TheMortgagePhoenixGroup.com Total Loans Closed in 2018: 95

Carlos Montero Brand Mortgage CMontero@BrandMortgage.com Total Loans Closed in 2018: 88

Tammy Hajjar Miller The Federal Savings Banks TMiller@TheFederalSavingsBank.com Total Loans Closed in 2018: 110

Cindy Jaramillo Envoy Mortgage CJaramillo@EnvoyMortgage.com Total Loans Closed in 2018: 91

Andres Munar Keystone Alliance Mortgage Andres@KeystoneAllianceMortgage.com Total Loans Closed in 2018: 114

Kathleen Halbing PRMG KHalbing@PRMg.net Total Loans Closed in 2018: 85

Jayme Kupka Inlanta Mortgage JaymeKupka@Inlanta.com Total Loans Closed in 2018: 141

Everett Nordby New American Funding Everett.Nordby@NAFInc.com Total Loans Closed in 2018: 84

Julie Hawk Homebridge Financial Services JHawk@Homebridge.com Total Loans Closed in 2018: 121

Shayna Laurel PRMG SLaurel@PRMG.net Total Loans Closed in 2018: 108

Amy Osborne Homebridge Financial Services AOsborne@Homebridge.com Total Loans Closed in 2018: 120

Michele Hendershot Homebridge Financial Services MHendershot@Homebridge.com Total Loans Closed in 2018: 107

Shannon Leydig Vellum Mortgage SLeydig@VellumMortgage.com Total Loans Closed in 2018: 92

Shelly Panzarella Citywide Home Loans SPanzarella03@gmail.com Total Loans Closed in 2018: 107

Myriam Hernandez PRMG MCHernandez@PRMG.net Total Loans Closed in 2018: 83

Jindra Faulkner Bay Equity Home Loans JFaulkner@BayEQ.com Total Loans Closed in 2018: 166

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Jane Schatz New American Funding jane.schatz@nafinc.com Total Loans Closed in 2018: 127

Julie Tully US Lending, a Division of American Pacific Mortgage Julie@USLendingCompany.com Total Loans Closed in 2018: 138

Ruth Perez SWBC Mortgage RuthPerez@SWBC.com Total Loans Closed in 2018: 131

Angela Sherlin CMG Financial ASherlin@CMGFi.com Total Loans Closed in 2018: 121

Gabriela Villafranco Homestar Financial Corp. Gabriela.Villafranco@HomestarFC.com Total Loans Closed in 2018: 94

Michelle Piccinini New American Funding Michelle.Piccinini@NAFInc.com Total Loans Closed in 2018: 121

Karen Sjodin New American Funding Karen.Sjodin@NAFInc.com Total Loans Closed in 2018: 143

Pamela Vroman Direct Mortgage Loans PVroman@DirectMortgageLoans.com Total Loans Closed in 2018: 103

Jose Plascencia Equity Prime Mortgage LLC JPlascencia@EquityPrime.com Total Loans Closed in 2018: 96

Mary Jo Smith CMG Financial MJSmith@CMGFi.com Total Loans Closed in 2018: 124

Wonida Welch New American Funding Wonida.Welch@NAFInc.com Total Loans Closed in 2018: 144

Gloria Price Prime Lending GPrice@PrimeLending.com Total Loans Closed in 2018: 132

Christy Solar Fairway Independent Mortgage Corporation ChristyS@FairwayMC.com Total Loans Closed in 2018: 217

Brandy Whitmire Homebridge Financial Services BWhitmire@FinanceMyHome.com Total Loans Closed in 2018: 106

Stephany Puente Point Mortgage Stephany@PointMTG.com Total Loans Closed in 2018: 162

Micheline St. Fleur New American Funding Micheline.Fleur@NAFInc.com Total Loans Closed in 2018: 109

Amy Wolff Direct Mortgage Loans, LLC AmyW@DirectMortgageLoans.com Total Loans Closed in 2018: 124

Adrian Reyes PRMG AReyes@PRMG.net Total Loans Closed in 2018: 116

Ronnie Strickler Homebridge Financial Services Ronnie.Strickler@Homebridge.com Total Loans Closed in 2018: 93

Samantha Zumwalt PRMG SZumwalt@PRMG.net Total Loans Closed in 2018: 152

Leo Roberto PrimeLending Leo.Roberto@PrimeLending.com Total Loans Closed in 2018: 83

Vivian Suarez DHI Mortgage VGarciaSuarez@DHIMortgage.com Total Loans Closed in 2018: 153

Jess Rodas Academy Mortgage Corporation Jess.Rodas@AcademyMortgage.com Total Loans Closed in 2018: 135

Jaime Tapia Alterra Home Loans JTapia@GoAlterra.com Total Loans Closed in 2018: 87

Lisa Rogers CMG Financial LRogers@CMGFi.com Total Loans Closed in 2018: 143

Elsa Tindell Wallick & Volk Mortgage Bankers Elsa.Tindell@WVMB.com Total Loans Closed in 2018: 114

Rachel Russell CMG Financial RRussell@CMGFi.com Total Loans Closed in 2018: 113

Ana Tolentino Atlantic Coast Mortgage, LLC Ana@TheAnaTeam.com Total Loans Closed in 2018: 109

Leesa Sandoval Homebridge Financial Services LSandoval@Homebridge.com Total Loans Closed in 2018: 106

Myrna Torres BBVA Compass Myrna.Torres@BBVA.com Total Loans Closed in 2018: 106

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Jay Perez PRMG JayPerez@PRMG.net Total Loans Closed in 2018: 87

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DIVERSITY ROUNDTABLE DISCUSSION 2019 n addition to featuring our NAMMBA 100 list in this month’s issue, we also thought it would be an ideal time to gather a diverse panel of industry execs to discuss some pressing issues in a roundtable format. With our focus this month on “Diversity in Mortgage Lending,” we gathered a panel consisting of Patty Arvielo, President of New American Funding; Kristy W. Fercho, Executive Vice President, President of Mortgage at Flagstar Bank; Desirée Patno, Chief Executive Officer & President of the Women in the Housing and Real Estate Ecosystem (NAWRB); and Sarah White, Senior Vice President of Marketing at Class Valuation, to share their experiences on the current state of the industry, overcoming obstacles, and finding solutions to make the profession more diverse. We thank our distinguished panelists for their time and hope that by sharing their own experiences, we can all appreciate their insight into an ever-changing mortgage profession.

Roundtable participants Patty Arvielo President New American Funding Patty Arvielo started her career from scratch, reaching out of her immediate circle and comfort zone to break into a business when she had no previous experience. Thirty-five years later, she is a nationally-recognized business woman; leading a mortgage bank with approximately 3,000 employees and 200 branches across the nation. Patty is involved in the National Association of Hispanic Real Estate Professionals (NAHREP) and she serves as a member of NAHREP’s Corporate Board of Governors. She has inspired New American Funding managers to obtain local chapter and board positions with the same group in their areas. To better serve Hispanic communities, Patty spearheaded the Latino Focus Committee within her organization. Their mission is to identify and address challenges Hispanic consumers face in their pursuit of homeownership and to enhance the quality of their lending experience. Patty also serves on the Executive Board of Big Brothers Big Sisters (BBBS) Orange County and on the Diversity and Inclusion Committee. She is also a member of mPower for the Mortgage Bankers Association. She also serves on the National Park Foundation Board of Directors, where she is serving a six-year term as a new board member, and on the Orange County School of the Arts Foundation Board.

Kristy W. Fercho Executive Vice President, President of Mortgage Flagstar Bank Kristy Fercho joined Flagstar Bank in 2017 as Executive Vice President and President of Mortgage. In this role, Fercho is responsible for the direction and oversight of all aspects of mortgage and secondary marketing and for the continued expansion of Flagstar’s mortgage business. Prior to Flagstar, Fercho spent 15 years with Fannie Mae, ultimately serving as Senior Vice President, Customer Delivery Executive, responsible for the end-to-end strategy and business performance of all singlefamily customers in the western United States, representing an acquisition volume of more than $300 billion. Her experience in the mortgage industry is broad and deep, covering mortgage originations, fulfillment, risk management, secondary marketing, servicing, technology initiatives and regulation. Fercho serves on the Board of Directors of the Mortgage Bankers Association (MBA), and previously served as President of the Board of Habitat for Humanity, Chicago.

Desirée Patno Chief Executive Officer & President Women in the Housing and Real Estate Ecosystem (NAWRB) Desirée Patno is the CEO and President of Women in the Housing and Real Estate Ecosystem (NAWRB) and Desirée Patno Enterprises Inc. (DPE), Advisor for AmicusBrain— AI for Reimagining Dementia Care, and a national speaker. With three decades specializing in the Housing and Real Estate Ecosystem and owning her own successful brokerage, she leads her executive team’s expertise of social impact, gender equality and access to capital, and provides personalized advisory services to the real estate and family office community. As Chairwoman of NAWRB’s Diversity & Inclusion Leadership Council (NDILC), she oversees the Council’s efforts to raise the number of women leaders and grow women’s employment and empowerment at all levels in the housing ecosystem. NAWRB has raised awareness of diverse opportunities, supporting the development and implementation of workforce and supplier diversity standards for the multi-trillion dollar housing sector since 2010. Desiree is also the Publisher of NAWRB Magazine—winner of the APEX Award for Publication Excellence in 2015-2018, and is a contributor to National Mortgage Professional Magazine and various industry publications.

Sarah White Senior Vice President of Marketing Class Valuation Sarah White serves as Senior Vice President of Marketing at Class Valuation, a provider of real estate asset valuation and appraisal management solutions. In this role, Sarah oversees all marketing efforts, strengthening brand identity through thought leadership, industry participation, and guerilla marketing efforts. She began her mortgage technology and services career in 2008 at Mortgage Cadence. There, she spent nearly a decade leveraging evolving marketing tactics to take the company from a Denver-based startup to an industry-leading loan origination technology provider through both organic and inorganic growth. She has won Midas and MarCom awards for her brand work, and is a regular contributor to industry publications. Sarah earned her Bachelor of Arts degree in Communications from the University of Colorado.

National Mortgage Professional Magazine Presents …

DIVERSITY ROUNDTABLE DISCUSSION 2019 What are your feelings on the current state of the mortgage marketplace? Patty Arvielo: The industry is changing more than I have ever seen in the 38 years I have been involved. Consumers want to interact and be provided with service in real-time. Shopping for a mortgage online has become the norm. Therefore, whoever controls the lead on the Internet is ultimately going to win over the borrower. The in-market agents are also impacted; however, their value is still highly regarded as borrowers want to transact in-person. The demand of the current borrower will result in a consolidation of our workforce. I also think there’s going to be a shift where the loan agents today might be making less per transaction, and they will control more volume. Kristy Fercho: We have not seen a mortgage market this tight for this long in quite some time. There is overcapacity in the marketplace, which I’m certain will correct itself. In fact, since the beginning of the year, we have already seen a number of acquisitions, and there will be more. The rationalization of the overcapacity is being accelerated as some lenders are pricing at lower-to-zero margins to compete. This is not sustainable. With rising interest rates creating a shift to a purchase market, the next few quarters will continue to be challenging both from a volume and margin perspective as housing inventory continues to be tight. I’m looking forward to 2019 and confident about Flagstar’s ability to compete because we have a diversified mortgage platform, a variable cost model and loyal, long-term customer relationships that, combined, make us resilient to the challenges of the current market environment and positioned to win once the overcapacity comes out of the system.

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Desirée Patno: Recent trends in the housing and the mortgage industry show that demand from homebuyers continues to exceed the supply of houses on the market, and, given the decrease in housing starts, this is leading to a multitude of problems. According to Commerce Department, the number of homes that were being built as of December 2018 was at its lowest level in the more than two years. The decrease in housing starts during this period indicates that developers are anticipating fewer new houses that will be sold this year. Building permits increased by just 0.3 percent, suggesting that growth in new housing will continue to be sluggish in the future. With a limited inventory, home prices and mortgage rates are on the rise, which is only furthering the affordability problem we currently have. The fall in housing starts in December is attributed to a stall in singlefamily houses and apartment buildings. This is troubling because firsttime buyers are often looking for single-family units, and they currently dominate the housing market. Home prices have steadily increased faster than wages, and there is a tight selection of available homes listed at $250,000 or less. The decrease in home sales has influenced builders to limit construction projects, but there is hope that falling 30year mortgage rates, which increased by nearly five percent last year, will bolster home buying in 2019. Sarah White: The mortgage marketplace is constantly evolving. Just a few short years ago, the term “Digital Mortgage” had the industry abuzz, and the concept of the “Millennial” struck fear in the minds of the industry. Looking back, it’s ironic, given we are talking about diversity here. We were passing judgment on an entire generation of folks. In fact, I would say many of the stereotypes around what Millennials want from their mortgage experience have since been debunked. While technology remains a valuable tool to expedite processes and ensure accuracy, we do not need to try to become robots in order to serve segments of the market. A personalized approach with open communication reigns supreme. My firm is committed to going the extra mile to serve our customers with personalized experiences, while also becoming a platform-based service company for increased speed, accuracy, and control over our technology. It’s all about striking the right balance.

Have you faced any obstacles as a female and/or minority in the mortgage profession? Patty Arvielo: I wouldn’t say I’ve faced obstacles as a minority female

in the mortgage profession. There have been instances where my reactions have been labeled as those exclusive to women, “Only women do that.” The reality is, my behavior should be accepted as that of a human being, not of a woman. Other than that, I have been very lucky to be surrounded by men who have empowered me and have seen me as an individual with strong business skills. Kristy Fercho: As a woman in a male-dominated profession, I have definitely encountered obstacles and try to see them as opportunities to learn. I always ask myself, “How can I navigate around them? What has worked in navigating obstacles in the past? Who can I seek for help?” I’ve been very fortunate to have had great mentors who helped me navigate these challenges. It’s also helped to work for organizations like Fannie Mae and Flagstar, where diversity and inclusion is a priority. This means people are actively engaged in leveling the playing field. Many times, I’m the only female or only African-American in the room, so people aren’t sure what to expect or how to take me. I try to build connections so it feels more familiar. Desirée Patno: Yes. Many times I have had to use my height and louder voice to be heard and seen. When I was 19-years-old, I had applied for a loan and was denied the day before the scheduled sale due to me being a woman as the main breadwinner. Fortunately, I had the strength and capacity to right the wrong and the institution ironically is no longer in business. Sarah White: I would be lying if I said “No”. Over the years, I’ve overcome challenges as a female in the mortgage profession–no doubt. With that said, we are what we make of any situation, and I have focused on the positives. I believe that there are more people creating equality and treating everyone the same than those perpetuating diversity gaps. By choosing to act as an equal, I have seen most treat me as such. I would encourage everyone to stand up for equality and try not to dwell on the negative interactions and let that overwhelm you into feeling like a victim. Rise above, support programs and causes aiming for equality, and take action in order to see change.

What are some of the industry’s most pressing issues at this time and what can be done to solve them? Patty Arvielo: As far as the transactional level is concerned, I think margin compression and online lead generation are pressing issues. The issues we face are a direct result of the fear of change. Change in general is challenging for most of us and instead of looking at it as an opportunity to grow, we will fight it. A vast majority of Loan Officers have been in the mortgage industry for a couple of decades without experiencing such drastic changes in the shopping behaviors of consumers. Our industry is shifting, and we need adapt as change is inevitable. Our inability to embrace reality is giving the opportunity for younger and fresher competitors to come in and disrupt what we have built for many years. Kristy Fercho: I see four key issues impacting the industry at this time. The first is the shift in production mix. In 2018, we saw interest rates steadily increasing, which has created a shift to a purchase market. Refinances are at their lowest level since 2014 and are now less than 30 percent of the market. Two-thirds of all refinances are cash-out, as homeowners tap equity, and higher interest rates have all but dried up rate/term refinances. Refinances are falling off more quickly than purchases are picking up, driven primarily by the second issue–lack of housing supply. While there is certainly demand for housing, lack of inventory is a challenge. Many Baby Boomers are staying in their homes instead of selling and downsizing. It’s true that new home construction is picking up, but builders still face lack of skilled labor, higher cost of materials and stricter regulations on development. According to the MBA, mortgage volumes are expected to finish 2018 at $1.6 trillion and remain flat into 2019, which would be the lowest level since 2014. This has led to the third issue, overcapacity in the market, which, in turn, has created irrational pricing and lower

National Mortgage Professional Magazine Presents …

DIVERSITY ROUNDTABLE DISCUSSION 2019 margins. While some lenders have cut staff to right-size costs, others are trying to ride out the storm before making changes to their staffing or adjusting commissions. There have been a number of acquisitions in the first few months of 2019, and we expect this to continue throughout the year as today’s margins are not sustainable The fourth issue is really an opportunity, and that is the shift to digital technology. Consumers want a fully integrated digital ecosystem to improve their overall mortgage experience and match transactions they are accustomed to in other aspects of their lives—the so-called Amazon effect. That said, the mortgage transaction still remains very complex due to the number of providers that are involved—Originator, Appraiser, Title/Escrow Agent, Real Estate Agent, warehouse bank, end investor, etc. Today those providers are siloed in their own systems and are not easily brought together in a single platform. This will be critically important as Millennials, who are key to the firsttime homebuyer segment, enter the market. Contrary to some beliefs, the majority of Millennials want to own versus rent, although many face obstacles such as lack of affordable housing and high student loan debt. While investment in digital technology will certainly improve chances to reach this generation, at Flagstar, we couple the digital experience with customer service and a human touch to personalize the service and help people navigate through one of the most significant financial investments of their lives. That’s why we are committed to crafting unique financial solutions for all of our customers through our wide array of products and services.

changes and dialog continues, more women will step up to take leadership and ownership. Kristy Fercho: There are a number of things that are being done to bring more diversity to the mortgage profession. Personally, I accept speaking engagements where I have an opportunity to share that the mortgage profession remains one of the only fields where you can still make six figures without a college education. At Flagstar, we have an active internship and rotation program, where we recruit diverse talent from local universities and expose them to the mortgage business over a summer or throughout a two-year rotation process. The rotation program gives them exposure to all different parts of the business so by the time they are finished, they have a broader understanding of the mortgage industry. Externally, there are a number of organizations deeply committed to bringing more talent into the profession. We actively support the Mortgage Bankers Association, Tony Thompson at the National Association of Minority Mortgage Bankers of America (NAMMBA), and Marcia Griffin at HomeFree, just to name a few.

Sarah White: Over the past 11 years that I’ve been attending mortgage industry events, I’ve seen a dramatic shift in the sheer number of diversity-related shows and activities in the mortgage profession. From women-focused conferences, to shows shedding a light on diversity as a whole, as well as long-standing shows creating diversity-related sessions and tracks, I am so thankful to see the progress that has been made. The hope is that these events will spark a sense of community and give a voice to those that may not have felt they had one in our industry prior.

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What is being done to bring more diversity to the mortgage profession? Patty Arvielo: Major players in our industry are starting to talk about diversity in the mortgage profession. However, talking about it is different than implementing change. We are seeing more and more organizations that are lobbying for gender equality, not for just being diverse, but being inclusive. I strongly believe it is going to take the owners of companies to administer meaningful change. There needs to be more diversity in ownership of mortgage companies and as this

Desirée Patno: First, there is the affordability problem in the housing market. The entire housing and real estate ecosystem needs to collaborate on addressing the affordability problem so that more firsttime home buyers, especially single mothers, can finally become homeowners and begin building a foundation for long-term wealth and stability. Second, we need to make sure more qualified women and minorities have the opportunity to hold leadership roles at all levels in the mortgage industry, including at the board and C-suite levels. We need more diverse leaders who will better understand the needs of the increasingly diverse consumer base. In addition, a greater accountability on diversity and inclusion will increase ROI, retention and harmonious culture. Third, there needs to be an increased understanding of the process and options of getting a mortgage, the life of a mortgage from a consumer’s point of view, integration of technology, and communication to the consumer in regards to servicing it. One of the biggest headaches facing our industry is the lack of quality consistent servicing and the hard loss of time, money and increased stress to the consumer. Women are making less and are shouldering the bulk of single parenthood. Veterans on deployment, and others have been greatly impacted.

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Sarah White: The industry is at a point where there is quite a bit of consolidation, but that is not necessarily a bad thing. It means there are many new partnerships and companies “joining forces” to become greater and better together. At my firm, we are doing the same–acquiring industry leaders we see synergies with. In addition, with the ebbs and flows of our industry, we know the tides are shifting once again. It’s always a good idea to be prepared for when they do, using this time to think about ways to be more efficient, scalable, and cost-effective. Working under a manufacturing mindset is something Class has always strived for and has served us well over the years. Streamlining processes doesn’t have a beginning and an end–it’s a constant journey that should be revisited regularly to ensure a well-oiled machine.

Desirée Patno: I think there is a greater awareness of the importance of having a diverse workforce in the mortgage profession, as well as in other industries in the housing ecosystem. Having a diverse leadership team and board has been proven to increase business success, so it is a practical and ethical choice to bring more voices into the field. Current legislation is attempting to address the problem of diversity at the national and state level. The SB 826 Bill in California, that was recently signed into effect by Gov. Brown, requiring that all public companies have at least one woman on their board by the end of this year. This will affect the 217 companies in California that currently do not have any women on their boards. Last month, Rep. Gregory W. Meeks introduced the Improving Corporate Governance Through Diversity Act of 2019, which will require public companies to disclose the gender, race, ethnicity and veteran status of their board of directors, nominees and senior executive officers, as a way to track the progress of diverse representation in the corporate sphere. NAWRB has been heavily involved in addressing the issue of diversity and inclusion throughout the entire housing ecosystem. In August 2010, I authored an article in HousingWire, bringing attention to the Dodd-Frank Act specifically the Provision 342 for the creation of the Office of Minority and Women Inclusion (OMWI) in federal agencies beginning in January 2011. This was a major step towards accountability for women’s employment and women-owned businesses in our industry. Since then, we have had OMWI directors speak at each and every one of our conferences to discuss current progress and strategies. Six years later, NAWRB submitted comments in response to the Federal Housing Finance Agency (FHFA)’s Notice of Proposed Rulemaking (NPRM) and Request for Comments (RFC) published by the FHFA in October 2016, calling for the public’s input on the proposed changes to their minority and women inclusion amendments. Our comments were taken into consideration and discussed in the rule’s final version. In 2018, we publicly supported the passing of the SB 826 Women on Corporate Boards Bill that required public companies in California to have at least one woman on their boards by the end of 2019. We are pleased to see policies and legislation taking a step toward actionable solutions for increasing the representation of women and minorities at all levels of employment, and making sure they have a seat at the table.

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“The Way We’ve Alwa There is no good reason for the homeb By Matt Slo

e’ve known for decades that the way we produce a mortgage could be better. We’ve known that the consumer finds the process to be opaque, confusing and counterintuitive. We’ve known that there must be a way to cut back on needless mistakes and delays in the process. And yet, as an industry, the mortgage industry has allowed its process to drift, driven by no more than inertia. Why? There’s a reason we originate mortgages this way, of course. The financial services industry is one of the most heavily regulated spaces in our economy—a patchwork of federal regulation, state law and even municipal ordinance. Each geographic market is unique, both in the rules that govern it and the players that participate. The

result has been a collective of specialized functions, specific professions and ad hoc workarounds that wend their way to the closing. These different segments (title, origination, appraisal, etc.), find themselves simultaneously collaborating and competing as to their role in the overall process. Why? Let’s take a look at why it’s time for us to revisit the mortgage origination model; the reasons for which all share the common denominator of change. Reason one: The consumer hates the current mortgage experience If you believe the customer is always right, or that the “end user” ultimately drives the success of a product, service or even entire industry, then the numbers overwhelmingly call for dramatic change. We need only look at the results of one or two

comprehensive surveys (of hundreds) to figure that out: “Nerdwallet polled 2,241 people who had applied for mortgages. The survey was conducted online in mid-January by the Harris Poll. Forty-two percent said they had found the mortgage experience “stressful,” and 32 percent found it ‘complicated,” said Kenneth Harney in a March 1, 2017 article in The Washington Post. “Many borrowers say the mortgage process is a major pain.” The article then turns to a second survey … “In the Freeandclear survey, borrowers were asked to choose from a set of alternatives that would most closely describe the mortgage process. Forty-one percent said it was most similar to an annual physical. Thirty-four percent said it was like going to the dentist.” said Harney. “Many borrowers say the mortgage process is a major pain.”

Imagine, for example, the retail snack industry or consumer electronics industry learning that their products are viewed as akin to a root canal. Would producers continue on as they always had, knowing this? Of course, a mortgage is not an HDTV or bag of pretzels, but the principle is the same. Consumers hate the mortgage process, and the mortgage industry needs consumers to move product. It’s not hard to imagine why many borrowers feel the way they do. There are chokepoints and easy opportunities for delay or error at every turn: Inadequate consumer information for underwriting. Delayed exchange of key information between mortgage broker and wholesale lender; correspondent and broker; et al. Delays in internal communications. Delays at handoffs to the title company,

ways Done it” Is Dead

mebuying process to remain fragmented

att Slonaker

appraiser and/or closer. Manual processes for closing, doc prep or curative. Delays in reporting by the appraiser. The need to manually rekey data after handoffs because systems don’t integrate. Communication and scheduling with closing agents. In 2019, the mortgage industry is one of the few data-driven industries in the world that assembles the financial product (the mortgage) on a virtual assembly line, where only a single party at a time works on the end result. Everywhere else, technology allows the various participants to work on the product simultaneously, with instantaneous communication and access to all critical data at any time. The differences are painfully clear. One white paper puts it all in perspective, describing the current mortgage process with a hypothetical and further painting the picture with an infographic

(see above) that leaves no doubt as to why the consumer dreads much of the home purchase experience. The following was taken from “Making Sense of Mortgages: The Problem, and the Opportunity” by Angela Strange, Andreesen Horowitz blog (May 19, 2018) … “… To recap so far: Mary’s agent referred her to a broker, who found a direct lender that would approve her for her mortgage. Mary’s bank bundled Mary’s mortgage with many other mortgages into a bond, which was sold to Fannie Mae, and then sold on the private market to the GIC (Singapore Sovereign Wealth fund). Her bank then also decided to sell the servicing rights to a servicer located in Ohio. So after 45 days, Mary has a mortgage and is in her new home in Denver, while her mortgage is in Singapore, and her checks are mailed to Ohio.”

Reason two: The consumer is beginning to expect (and deserve) better Today, we in the mortgage industry still expect a borrower to provide enough personal data to make an IRS agent blush; wait for days on end without any clue as to how the process is going and then sign off on a 50-page document riddled with legalese. At the same time, that same borrower is ordering appliances online with two clicks. She is also shopping for a new car without ever having to speak to a salesperson. She’s probably planning to file her taxes online as well. Why can’t we offer the same … or at least incorporate some of those user experience elements? This comes from a Sept. 11, 2018 MorLabs white paper, “Reinventing the Mortgage Lending Consumer Experience,”

which cites a KPMG study, “How Much Is the Customer Experience Worth?” from September 2016, to suggest that user experience (UX) is only now becoming a consideration in the lending experience: “Studies predict that by the year 2021, customer experience will overtake price and product as the number one brand differentiator. And as a result, almost nine-out-of-ten organizations expect to be competing primarily on the basis of customer experience.” And it’s not just consumers who are starting to expect better. Especially after the financial disaster of 2008 and subsequent era of default and repurchase demands, investors and regulators are aligning with consumers to demand more transparency and accountability continued on page 50

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from mortgage providers: “Consumers expect total transparency and also to be able to track their loan from start to finish” said the MorLabs white paper. “As a matter of fact, data shows that the time between application and approval as being the most stressful for borrowers. It normally takes 41 days to close a mortgage and that is according to a monthly survey of home loans from mortgage software provider Ellie Mae. Other challenges include the lack of trust especially due to errors in the paper-based documentation.”

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taking an active role in encouraging (even driving) the improvement of ways to collaborate via technology. Investors, too, are beginning to be heard. Tech developers are hearing these calls. Increasingly, new technologies serving all elements of the mortgage transaction are being designed to work seamlessly with other technologies. 3. Poor or errant communication: The days of fax, e-mail and voice mail are dead or at least dying. Communication between parties now is far too easy for excuses. The standard is becoming a system that allows all parties to see the status of the transaction 24/7; communicate 24/7 and ascertain who’s getting the job done, and who isn’t.

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McClain, Senior Vice President of Equator and Hubzu Auction Services for Altisource. “Our FHA modeling tool, in combination with the bundled Altisource FHA products, offers servicers the potential to mitigate some of the costs and risks associated with conveying assets back to HUD, and view the status and results through Equator.” My Professional Educator Launches New Online Training School

My Professional Educator LLC has announced that it has launched a new online training school that offers attorneys, title agents, escrow officer and notaries the ability to earn a Certified Closing Professional credential. The CCP course is a 4. Little incentive to 17-week program, all offered change/Risk of disruption and online, and consists of courses loss of business when taught by an impressive array of adopting a new model: We’re mortgage industry and former beginning to reach the tipping government insiders. point between “take it or leave MPE founder, Wayne it” and “I’ll find a lender who Watkinson Esq., who served 10 does better.” Enough lenders years as Deputy Attorney General and service providers are assigned to represent the New offering better options that 1. Disparate and conflicting Jersey Banking Department and consumers and brokers are state, federal and local real as a regulatory officer with the NJ willing and able to move on. estate requirements: This is Banking Department, is presently While, in the past, the risk of still an issue at times, but in the in private practice as a principal “going digital” meant disruption pro-business environment of in Offit Kurman, a regional law to the sales funnel without a recent years, legislators and firm, as part of its regulatory guarantee of eventual ROI; agencies are finally beginning to practice group. today, the risk of not going act to eliminate the non“This effort is an attempt to digital is far worse. standard and sometimes create a much needed conflicting nature of mortgage educational platform so that To be sure, the mortgage compliance. For example, many closing professionals, who often industry is undergoing some of states are now moving to make have diverse skills and training, the most dramatic changes it has the eClosing and remote can gain a common ever seen. And nobody can notarization possible. We still understanding of all the key promise that the change will have some way to go, but it is factors that influence the come with no pain or adjustment. improving to the extent it’s no origination, approval and closing It is becoming clear, however, longer an excuse. of a mortgage loan,” said that “the way we’ve always done Watkinson. it” is no longer a safe point to 2. Lack of integration between The CCP program’s Executive which any business can retreat. the systems and technology Director is Kenneth Donohue, Too much has changed in the of lenders, service providers former HUD Inspector General world of technology and in the and investors: Here too, we who spent decades in world of consumer demand to go have some ways to go. But Washington, D.C. serving several back now. change is afoot. The GSEs are administrations in regulatory and enforcement capacities. “It is time that the people who Matt Slonaker is Senior Vice President/Head Enterprise are entrusted with funds, critical Solution Sales for WFG National Title Insurance Company. legal documents and consumer As an accomplished senior executive and military veteran personal information at a closing with more than 26 years of success across the financial have the opportunity to study the services, Matt’s broad areas of expertise includes many factors that make for a operations, sales, marketing, information technology, good process,” said Donohue. business intelligence and executive leadership roles. He “This includes knowledge about may be reached by phone at (682) 262-2020 or e-mail fraud, ethics, regulatory MSlonaker@WFGNationalTitle.com. requirements as well as other Reason three: The obstacles to a seamless mortgage are being removed It’s not only expectations that are rising. Our reasons for doing things the way we’ve always done them (regulation, expertise, access to data) are being eliminated … and fast. Many of the common challenges and obstacles to streamlining the convoluted homebuying process are disappearing.

areas of knowledge that may affect their ability to function as true professionals.” The MPE closing professional course faculty includes, among others, Richard Horn, former Senior Counsel & Special Advisor at the CFPB who led the final rulemaking of the TRID rules; Scott Olsen, Executive Director of the Community Home Lenders Association and former aide to the House Financial Services Committee under Rep. Barney Frank during the enactment of the Dodd-Frank legislation; Peter Stevens, former Deputy Commissioner of the Utah Department of Insurance; Tim Anderson, eMortgage expert formerly of DocMagic and now with Old Republic Title; Pamela Michaels, an attorney at a Stewart Title company specializing in 1031 Like Kind Exchanges; Christopher DeLilse, CEO of a national settlement firm; and Robert Volmer, partner in Crosby-Volmer International Communications in Washington, D.C. Quandis Adds Automated Monitoring Feature to its Military Search

Quandis Inc. has announced that it has incorporated functionality into its Military Search service that empowers clients with the ability to easily customize realtime monitoring data analysis that is more explicit and inclusive in nature, returning the most granular searches in the industry for active military personnel along with detailed reporting. Quandis Military Search (QMS) verifies up-to-the-second information on active duty military status to help organizations comply with the Servicemembers Civil Relief Act (SCRA) of 2003, which has stringent rules and processes that must be followed before starting mortgage foreclosure proceedings on borrowers that hold active duty status in the United States military. The new functionality works by providing organizations with the ability to define “monitoring cycles” for their data, which automatically runs SCRA searches using both client defined criteria and schedules. continued on page 52

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The continual search cycles allow for comparison of key SCRA data points over time thus identifying any changes in SCRA eligibility. The expanded functionality reports on specific data points as defined by unique client needs. “Our development of QMS monitoring takes SCRA compliance adherence a step further by putting users in full control of their data and preferences as to how, when and to what degree of finality they would like to execute searches,” said Greg Kent, Vice President of Data Services at Quandis. “Our clients no longer require IT resources to compare and detect SCRA status changes.” HomeLight Introduces Simple Sale iBuyer Marketplace

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HomeLight has announced the launch of its Simple Sale marketplace. Powered by a growing network of more than 100 instant buyers (iBuyers), Simple Sale lets home sellers and agents compare iBuyers and request competitive instant offers for their properties. Simple Sale’s network of local and national instant buyers– including Opendoor, Offerpad, We Buy Houses and Roofstock– provides home sellers and agents with the best instant offers for any property. Simple Sale complements HomeLight’s hallmark service as the nation’s preeminent agent marketplace for home sellers and buyers. Using proprietary algorithms to analyze millions of real estate transactions, HomeLight connects sellers with top local agents whose skills and experience most closely align with their needs. Since launching in 2010, HomeLight has helped customers list over $10 billion in homes through its platform, helping thousands of home sellers across the U.S. “We are passionate about ensuring that homeowners receive the best outcome when selling their homes. Our flagship HomeLight agent-matching product was the first of its kind to show agent performance data online and allows sellers and buyers to select the perfect agent for their needs,” said J.J. McCarthy, GM of Simple Sale at HomeLight. “With Simple Sale, we’re helping home sellers to

understand even more of their options, make the best choice for their specific priorities and get the best outcome possible.” Waterstone Mortgage Updates Its Single Loan Close Construction Program

Waterstone Mortgage Corporation has announced an update to its Single Loan Close Construction Program which now offers 95 percent LTV, allowing borrowers to build a home with just five percent down. The Single Loan Close Construction Program, which Waterstone Mortgage introduced in 2017, is a single loan that covers the entire cost of the lot, construction and the mortgage. Now, the Single Loan Close Construction Program offers the same streamlined process, but with an added bonus of 95 percent LTV, meaning 95 percent of the loan can be financed and the borrower is only responsible for a five percent downpayment. “To be able to build your dream home with only five percent down, let alone one loan to cover the entire process, is relatively unheard of in the mortgage industry. This cuttingedge program is truly a one-time close, and we’re thrilled to provide our borrowers with such a simple, convenient process,” said Kim Newby, SVP–Investor Relations and Product Development for Waterstone Mortgage. “Building a home is a major investment for any homeowner, so we aim to make the lending process as seamless as possible.” Roostify Offers Enhanced ADA Compliance to Lenders

Roostify has announced that all consumer-facing aspects of its application platform are now accessible for customers with disabilities. Roostify is certified to Web Compatibility and Accessibility Guidelines (WCAG) 2.0, Level AA, enabling lenders to offer an Americans with Disabilities Act-compliant loan experience to their applicants. Homebuyers and homeowners can now take advantage of comprehensive screen reader

usability, color contrast/font usage, enlarged display performance and keyboard controls throughout their home loan process. “We’re proud to have built a platform that meets the stringent AA requirements and extends the Roostify benefits of a faster, lower-anxiety loan process to homebuyers and homeowners of all abilities,” said Sandeep Aji, Vice President of Products at Roostify. The company’s consumer experience was recently certified by an independent third-party as being WCAG 2.0, Level AAcompliant. The AA designation represents a standard of accessibility for all users, including people with limited or no vision, limited or no hearing, colorblindness and limited mobility. The designation is the culmination of a long-term effort that began with the development of the company’s recentlyunveiled Roostify Atomic design system. “From the very beginning, we approached Roostify Atomic with accessibility in mind,” said Aji. “One of our core tenets of product design is inclusion–we want to improve the loan process for all consumers. Roostify Atomic gave us an opportunity to build an experience that was fully accessible by anyone trying to buy or refinance a home. What’s more, accessible design is simply good design, and the WCAGcompliant platform offers a better experience for users with and without disabilities.” Taylor Morrison Offers 2-1 Buydown Program

Taylor Morrison Home Corp. has debuted a 2-1 buydown from a fixed rate mortgage program designed to help borrowers cover some of the interest costs that occur during the initial years of homeownership. According to the Scottsdale, Ariz.-based homebuilding company, the 2-1 rate buydown for conventional and FHA financing enables qualified owner-occupied borrowers with a minimum 680 credit score to finance their mortgage payment at a rate that is 2 percent below the fixed rate mortgage in the first year and 1 percent lower in the second year before taking on a fixed rate mortgage over the remaining life of the loan. The 2-1 rate buydown began on Jan. 4 on

move-in ready homes that close on or before April 30. “The buydown program is an excellent choice for many families and hasn’t been widely used for some time,” said Tawn Kelley, President of Taylor Morrison Home Funding. “For a builder to offer this kind of financial incentive to ease the costs of mortgage interest, it can make a significant difference to a family’s first years settling into their home and is quite unique. “It is a perfect solution for people who may be expecting a promotion or working on paying off a car loan or credit card balances or, just wanting the extra dollars to bolster their savings. To put it simply, it offers our customers a priceless gift— savings with the peace of mind knowing they have a mortgage that is secure no matter how long they choose.” Texas Capital Bank Debuts eMortgages Program

Texas Capital Bancshares Inc., the Dallas-headquartered parent company of Texas Capital Bank, has launched its eMortgages program. With this announcement, Texas Capital Bank stated it was the first U.S. bank to fully support eMortgages. By providing financing for eMortgages, Texas Capital Bank said it resolved a liquidity issue for lenders and helped close the financial gap needed to make eMortgages viable. “In the long term, eMortgages hold the promise to help lenders gain operational efficiencies, realize cost savings and experience increased borrower satisfaction,” said Jack Nunnery, President of Mortgage Finance. “Having a knowledgeable counterparty that can help remove some of the uncertainty can be essential to a mortgage lender’s success as they embark on their own digital transformation.” Owners.com Offers New Bundle Program

Owners.com, an Atlantaheadquartered fintech real estate brokerage, has introduced a bundle offering designed to provide borrowers with savings in the closing process if they use continued on page 90

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The NAPMW Report NAPMW Presents Its 2019 Annual Education Conference “Jazzin’ Up Mortgage in the Big Easy”

DECEMBER 2018 n National Mortgage Professional Magazine n NationalMortgageProfessional.com MARCH 2019 n National Mortgage Professional Magazine n NationalMortgageProfessional.com

54 The NAPMW 2019 Annual Education Conference “Jazzin’ Up Mortgage in the Big Easy,” will be held Wednesday-Saturday, May 15-18, 2019 at the historic Hotel Monteleone in New Orleans. The Hotel Monteleone is one of the last great family-owned-andoperated hotels in New Orleans. Since 1886, five generations of Monteleones have dedicated themselves to making their hotel what it was—and still is—a sparkling destination in the heart of the French

Quarter. The Hotel Monteleone has long been a favorite haunt of distinguished Southern authors. Many of them immortalized the venue in their works. Ernest Hemingway, Tennessee Williams and William Faulkner always made The Hotel Monteleone their address while in the Big Easy. In June of 1999, due to Hotel Monteleone’s distinction among the literary elite, the Hotel was designated an official literary landmark by the Friends of the Library Association.

NAPMW 2019 Annual Education Conference Agenda (Subject to Change) Wednesday, May 15

Thursday, May 16

8:00 a.m.-4:00 p.m. NMLS CE With Ken Perry of The Knowledge Coop For more than 20 years, Ken Perry has been making the mortgage lending world a better place through his teaching and speaking. His signature move? Making mortgage learning easy and fun … really! Ken has been a relentless innovator in mortgage training, leveraging humor and technology to share his deep industry knowledge and unique perspective on today’s lending landscape with a wide audience. His company, The Knowledge Coop, was among the first to offer NMLS-approved continuing education to loan originators. They continue to provide engaging live and online learning opportunities. Ken is an accomplished and entertaining speaker who has brought his fun and insightful brand of training to hundreds of thousands of mortgage professionals, covering everything from compliance and ethics, to updates and forecasts, business development and strategy, and things like social media and cybersecurity, all with a keen eye on how it helps the industry do better business.

7:00 a.m.-8:30 a.m. Breakfast With Exhibitors

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

8:00 a.m.- 8:30 a.m. First-Timers Meet & Greet 8:30 a.m.-8:45 a.m. Presentation of Colors—Veteran Recognition 8:45 a.m.-9:30 a.m. President’s Welcome With NAPMW President Laurel KnightKeane/PNPAC–First-Timers–Local Association Presidents 9:30 a.m.-9:45 a.m. Break/Expo Preview 9:45 a.m.-10:45 a.m. Keynote Speaker: Patrick Kelly, EVP National Sales, Informative Research How Using the Right Strategies, Existing Consumer Data and Technology Can Propel You Forward in 2019 The year 2019 could find the lending community in a crowded market for consumer capture. Stiff competition and market flux will require lenders to review the success of current strategies and potentially

adopt new ones to remain competitive. Join Patrick Kelly, Informative Research’s EVP of National Sales, and learn about the three key factors you need to consider–spend, P&L strategies, technology and proper utilization of data–that will help you hit the ground running in 2019. With more than 45 years of experience in the mortgage industry, Patrick has played an important part in building Informative Research’s current sales team. Having been with the company for more than five years, his expertise covers all aspects of the mortgage industry and process, from appraisal and operations to loan production and support. Previously, Kelly worked as a Vice President of Sales for both First American and CoreLogic Credco.

unstoppable mindset that can endure any market … overcome limiting beliefs or self-sabotage Develop your lead funnels effectively, and understand the power of habits and how they can propel your business forward. Kelly is a writer, speaker, EVP of Paramount Partners Group, and Founder of both Foundation to Sustainable Success and Big Voices—a women-empowered network. She has published two books Foundation to Sustainable Success and the recent best-seller, Big Voices. Although she has now found a way to balance and prioritize what’s most important in her life, it wasn’t always that way. Through both her platforms she shares her journey to create an extraordinary life.

10:45 a.m.-11:00 a.m. Break With Exhibitors

11:45 a.m.-12:45 p.m. Lunch & Learn With NAPMW Member Information Swap Meet

11:00 a.m.-Noon Ketrick Kelley, FBI Special Agent With Guest Tobi Libbra of IL Group 2019 Security Information for the Finance Industry Securing information in any industry is of utmost importance in today’s digital age. When we are speaking about the finance industry, information of both the institution and the consumer must be number one on the list. FBI Special Agent Kelley will be teaching the audience the things to look for regarding data breach, e-mail phishing, and other cyber scams and how to prevent them.

12:45 p.m.-1:00 p.m. Break—Expo Open

2:00 p.m.-2:15 p.m. Break—Expo Open

2:15 p.m.-3:15 p.m. Chris Avery, Vice President, First Tennessee Warehouse Lending D-E-V-E-L-O-P: This Handy Mnemonic Can Change the Way You Do Business Without the concept of “Development,” the world would be filled with wonderful ideas, but none would ever come to realization. There would be musical notes, but no songs. We’d have words, but no stories. Whether you need to develop your business, territory, team, community, family, or relationships; join me for an interactive discussion and learn how this mantra and its process is a way to produce results. Chris is responsible for the development, service, and retention of independent mortgage banking customer relationships to utilize our committed line of credit to close residential mortgage loans prior to investment purchase. He has succeeded rapidly in the industry lending more than $5 billion with 35 new relationships in the past 30 months and is a three-time Diamond Circle Award winner. First Tennessee Warehouse Lending services more than 270 customers nationwide, with close to $6 billion in approved lines.

2:30 p.m.-3:30 p.m. Michael Whitbeck, Managing Partner, UberWriter Solutions Field Guide to Underwriting … Loan Approval Simplified Michael Whitbeck is a subject matter expert on the process of mortgage underwriting and for more than 25 years, he continually built content and systems to teach a process to improve people’s underwriting skill set. Michael is the Co-Creator of UberWriter, which has been a huge success in the market.

Friday, May 17 8:00 a.m.-8:30 a.m. Breakfast With Exhibitors

3:30 p.m.-4:30 p.m. NAPMW General Business Meeting 4:30 p.m. Main Ballroom Closes 6:00 p.m.- 6:45 p.m. Cocktail Mixer With Exhibitors 7:00 p.m.-10:00 p.m. Awards Gala Dinner/With Guest MC and Speaker Patrick Kelly, Installation of 2019 NAPMW New Officers

Saturday, May 18

8:30 a.m.-10:00 a.m. General Session: FNMA, FHA, HUD, Etc. 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.

9:00 a.m.-10:00 a.m. NAPMW Local Association President Training

10:00 a.m.-10:20 a.m. Break—Expo Open

10:00 a.m.-Noon National Board Meeting & 2019-2020 Strategic Planning Meeting All attendees are strongly encouraged to attend. Lunch will be provided!

10:30 a.m.-11:30 a.m. Kelly Resendez, Executive Vice President, Paramount Partners Group Jazz up your mindset and create an abundance of success! Create an

9:00 a.m.-10:00 a.m. NAPMW Local Association Treasurer Training

For more information, call (608) 886-9817, visit NAPMW.org or e-mail Admin@NAPMW.org.

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2:00 p.m.-2:15 p.m. Break—Expo Open

Noon-12:30 p.m. Lunch With Exhibitors–Expo Open

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12:30 p.m.-2:00 p.m. Dorinda Smith, Retired CEO & President, SunTrust Mortgage Join this interactive session, complete with audience Q&A to an amazing panel of Industry Professionals in operations, originations, sales, and vendors. Showing the intricacies of how each level brings it all together to make finance run smoothly!

1:00 p.m.-2:00 p.m. Cathleen Schreiner Gates, Executive Vice President of Sales & Marketing, Ellie Mae Cathleen Schreiner Gates has served as EVP of Sales and Marketing since March 2015. She oversees all sales, marketing, client management, professional services and customer support and training. She previously served as Ellie Mae’s Senior Vice President of Sales and Client Services from February 2012 to March 2015. From January 2010 to December 2011, she served as Senior Vice President of Sales and Client Services for Bersin and Associates, and from October 2008 to December 2010, she served as Vice President of Sales, Business Development and Client Success for Clickability Inc. She has held various senior management positions with MarketTools Inc. and Keynote Systems/Vividence Inc. She holds a Master’s of Business Administration in Finance from the Rutgers Graduate School of Management, and a Bachelor of Arts in French Literature from Douglass College-Rutgers University.

MBA’s Mortgage Action Alliance A Message From MAA Chairman Jeffrey C. Taylor continued on page 84

his year’s National Advocacy Conference (NAC) is just around the corner and the Mortgage Action Alliance (MAA) is gearing up for another successful year. Join us this April 2-3 at the Capital Hilton in Washington, D.C. Once again, NAC will be the premier advocacy event designed to empower MBA’s members and demonstrate to policymakers the strength of our industry’s unified voice. It’s an annual tradition that enables MBA members to speak directly to their elected officials as advocates for our industry–and your own business and customers.

Who should attend? MBA’s National Advocacy Conference is ideal for:

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l Real estate finance professionals interested in learning more about advocating for the industry with elected officials. l Industry professionals from all segments, including single family, commercial and multifamily. l Young professionals looking to learn more about the industry. Here is how your Hill visit will work: MBA staff will organize groups based on your home address and schedule meetings with the offices of your Senators and Representative. Prior to these meetings taking place, MBA will host Webinars to review key issues that matter to you: l Residential Issues Webinar–Wednesday, March 20 at 3:00 p.m. ET l Commercial/Multifamily Issues Webinar–Tuesday, March 19 at 3:00 p.m. ET l First-Time Attendee Webinar–Thursday, March 21 at 2:00 p.m. ET Finally, an experienced group leader will be assigned to your group to help get you to the meetings and facilitate discussions on April 3. This year, NAC will host an exciting lineup of speakers, including Senate Banking Committee Member Senator Doug Jones (D-AL), HUD Secretary Dr. Ben Carson and FOX News Anchor Chris Wallace. Look to the MBA Web site for updates on speakers and issues. We hope to see many of you here in Washington at NAC this April. It is critical that we remain deployed on all fronts–educating Congress and working with this administration–to strengthen the real estate finance system to continue delivering fair, sustainable and responsible financing to meet the changing needs of your customers, homebuyers and renters alike.

Jeffrey C. Taylor is Chairman of the Mortgage Bankers Association’s Mortgage Action Alliance. Jeffrey is also CoFounder and Managing Director of Digital Risk, a provider of mortgage risk, compliance and transaction management solutions. His is a frequent guest on financial television networks, such as Fox Business News and CNBC, as well as a source to top tier new outlets including The Wall Street Journal, sharing keen insights on the U.S. mortgage market and the economy.

nmp news flash

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multifamily mortgage debt outstanding hit $3.39 trillion by the end of 2018, according to new data from the Mortgage Bankers Association (MBA). This was $216 billion, or 6.8 percent, higher than the level set in 2017. Commercial banks held the largest share of commercial/multifamily mortgages at $1.3 trillion, or 39 percent. Agency and government-sponsored enterprise and mortgagebacked securities were tied as the second largest holders of commercial/multifamily mortgages, at $675 billion or 20 percent of the total, followed by life insurance companies with $509 billion or 15 percent, and commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities holding $466 billion or 14 percent. Between December 2017 and December 2018, commercial banks saw a $71 billion gain in dollar terms in their holdings of commercial/multifamily mortgage debt, a six percent increase. At the same time, state and local government decreased their holdings of commercial/multifamily mortgages by $1.1 billion, or one percent. In percentage terms, other insurance companies saw the largest increase with a 12 percent increase in their holdings of commercial/multifamily mortgages, while state and local government retirement funds saw the largest decrease with a 14 percent reduction. “2018 recorded the largest annual increase in commercial and multifamily mortgage debt outstanding since the Great Recession, and the largest increase in multifamily mortgage debt on record,” said Jamie Woodwell, MBA’s Vice President of Research & Economics. “Growth in multifamily mortgage debt made up almost half the total increase in debt outstanding, and Fannie Mae, Freddie Mac and FHA collectively accounted for two-thirds of the multifamily growth. The GSEs, life insurance companies, the CMBS market and banks all increased their holdings of commercial and multifamily

mortgage debt during the year.” Survey of Business Economists Points to 2021 Recession

A new survey of business economists finds nearly half of respondents predicting the U.S. will go into a recession by the end of 2020 and threequarters of respondents forecasting an economic downturn by the end of 2021. The survey, which polled 281 members of the National Association for Business Economics (NABE), also found 10 percent of respondents predicting a recession this year. However, 57 percent respondents stated the U.S. the economy will continue to benefit from the Trump Administration’s deregulatory agenda in during this year and next year, while 25 percent of respondents believed the administration’s deregulation efforts will negatively impact the economy and 10 felt it would have no impact whatsoever. Furthermore, 65 percent of respondents said the Federal Reserve’s monetary policy stance is “about right,” and that the central bank was only pausing its rate hikes rather than ending them for this cycle. And of that 65 percent of respondents, 39 percent believed the upper end of the federal funds target range at year-end 2019 would be either 2.75 percent while 26 percent of respondents predicted it would be at 3 percent. “There is a schism between what the NABE panel and the markets think about the Fed’s rate path and the shrinking of its balance sheet,” said Survey Chairwoman Megan Greene, global chief economist at Manulife Asset Management. “The markets are pricing in no more interest-rate hikes in 2019, whereas a majority of the NABE panel expects one or

Study Details Millennials’ Unhealthy Credit Habits

Fewer Home Flips, Greater Returns in 2018

Millennials have a very distinctive approach to handling their credit, according to a new study released by TD Bank’s Consumer Spending Index. The study found that onequarter of Millennials do not know their credit score, while half of this youthful demographic use between 31 percent to 90 percent of their credit limit, far above the recommended utilization rate of 30 percent or less. Thirty-two percent of Millennials do not pay off their cards in full each month, which can lead to credit health problems. And 23 percent of Millennials do not have a credit card—but Millennials also spent $2,447 annually on dining, more than Gen-X ($1,923) and Baby Boomers ($1,486). “The data is a bit concerning—it shows that a significant knowledge gap exists for Millennials when it comes to credit, especially compared to prior generations,” said Mike Kinane, Head of US Bankcard at TD Bank. “We’re relying less and less on cash, and while credit cards may not be a Millennial’s payment method of choice, it’s

Reverse Mortgage Performance Takes Dramatic Upturn

mortgage (HECM) market saw a spike in activity last month, according to new data published by Reverse Mortgage Insight. HECM endorsement volume reached 4,002 loans in February, a 142.7 percent skyrocket from January’s 1,649 loan volume. However, January’s activity was hampered by the partial federal government shutdown, which included parts of the Department of Housing and Urban Development. All 10 regions analyzed for this report saw growth during July, with the Pacific-Hawaii region showing the greatest loan origination. Among the major lenders in this sector, American Advisors Group originated 1,126 reverse mortgages in February, far ahead of second-ranked Finance of America Reverse with 455 loans for the month. 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

The home equity conversion

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

n National Mortgage Professional Magazine n MARCH 2019

There were fewer home flips in 2018 but a greater volume of profits, according to new statistics from ATTOM Data Solutions. During 2018, 207,957 singlefamily homes and condos were flipped, a four percent decline from the 216,537 flips in 2017. Last year’s flips represented 5.6 percent of all single-family home and condo sales, roughly the same level as 2017. While the quantity of flips declined in 2018, the total dollar volume of financed home flip purchases was $19.9 billion, an eight percent increase from $18.5 billion in 2017. The 2018 level was the highest recorded since 2007. The average gross flipping profit of $65,000 in 2018 represented an average 44.8 percent return on investment (ROI), down from 50.3 percent in 2017. Among the 53 metro areas analyzed for this study, the highest percentage of 2018 completed flips purchased with financing were in Denver (53.7 percent); Providence, R.I. (51.8 percent); Seattle (51.8 percent); San Diego (51.6 percent); and San Francisco (50.8 percent). “With mortgage rates remaining strong and people staying in their homes longer, we have started to see a bit of a flipping rate slowdown,” said Todd Teta, Chief Product Officer at ATTOM Data Solutions. “However, this isn’t to say home flipping is going away. The market is still ripe with investors flipping and bargains still await, especially in the lowest-priced areas of the country, where levels of financial distress remain highest.”

still critical that they develop financial knowledge and habits to properly position themselves for sound credit health down the road.” However, despite their credit handling, Millennials are interested in homeownership. In a new Country Financial Security Index report, Millennials were asked what they would do if they were given $25,000 tomorrow. The result: 26 percent of respondents said they would rather put this newfound money toward a down payment for a new home or pay off a mortgage than use it to pay off their credit card debts (17 percent) or student loan debts (16 percent). In comparison, most Americans between the ages of 35-49 would rather pay off their credit card debt (33 percent) or invest it (20 percent). Among the age demographics, the Country Financial Security Index report found Millennials were the most likely to purchase a home in the next one to two years (21 percent) versus those ages 35-49 (six percent), 50-64 (six percent) and 65 and older (five percent).

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two rate hikes this year. Survey results also reveal that, while investors have frequently blamed higher borrowing costs on the Fed’s quantitative tightening, the panel is inconclusive regarding the impact of shrinking the Fed’s balance sheet on short- and long-term rates.

NAMMBA CONNECT 2019 Wednesday-Saturday, April 24-27 The Westin Buckhead Atlanta 3391 Peachtree Road NE, Atlanta

ONNECT 2019 provides you with an opportunity to network with mortgage and real estate professionals from across the real estate finance industry and will feature some of the top speakers in the mortgage and real estate industry. NAMMBA CONNECT is not just an event, it is an experience designed to connect you with industry stakeholders, world class trainers and peers from across the country.

CONNECT 2019 Agenda Agenda subject to change

Wednesday, April 24 4:00 p.m.-7:00 p.m. CONNECT LIVE (Live Music) Get a jump start on CONNECT 2019 by picking up your registration badge the evening before the conference starts and enjoy free food, free drinks and networking while listening to live entertainment featuring a DJ.

Thursday, April 25 7:00 a.m.-8:30 a.m. Registration 8:30 a.m.-9:15 a.m. Welcome to Connect 2019 Join NAMMBA Founder/CEO, Tony Thompson, CMB in the Opening Session, which includes presentations featuring the association’s

achievements over the past year, as he officially kicks off CONNECT 2019 and sets the tone for two-and-a-half amazing days of motivation, education and learning to help attendees take their career and business to the next level. 9:15 a.m.-10:15 a.m. State of the Industry: CEO Perspective Featuring: Kristy Fercho, EVP, President of Mortgage, Flagstar; Lawrence Bailey, National Retail Sales Manager, JP Morgan Chase; and Tol Broome, President, BB&T Home Mortgage The pace of change in mortgage lending is accelerating and traditional business models are beginning to be challenged. To stay competitive lenders, need to understand the key trends that will impact them today, in the future and develop a business strategy that puts the customer at the center, so they are prepared to adapt to their everchanging needs and expectations. In this session, you will hear from some of the industry’s top CEO’s who are reinventing the consumer

experience while at the same time shaping the new business model of the future. 10:15 a.m.-10:30 a.m. Break 10:30 a.m.-11:30 a.m. Session: Carl White, Chief Strategist, Mortgage Marketing Animals Carl White is the Founder/Chief Strategist of The Mortgage Marketing Animals, and also the host of the number one Podcast for Loan Officers in America. Carl will show attendees specific step-by-step instructions on how to drastically increase their monthly loan production and income, while working only 32 hours per week. He does this by teaching people to hyper-focus their efforts, and to stop doing wasteful activities that they are currently doing that are not producing measurable results. By following the strategies, will be able to regain the freedom to do the things they want to do. Worrying about when and where the next deal will come from will no longer be a concern. 11:30 a.m.-1:00 p.m. Lunch Break at The Pavilion 1:00 p.m.-2:15 p.m. A Conversation With the GSE’s: Trends and Current Events Impacting the GSE’s Featuring: Danny Gardner, VP Affordable Lending & Access to Credit, Freddie Mac; and Jonathan Lawless, VP Product Development and Affordable Housing, Fannie Mae Join senior executives from Fannie Mae, Freddie Mac and Ginnie Mae to get an update on latest products, programs and initiatives the GSE’s are embarking upon to help make the dream of homeownership become reality for more consumers while helping companies to improve the client experience. 2:15 p.m.-2:30 p.m. Break 2:30 p.m.-3:30 p.m. LO Comp: Something Has to Give Featuring: Lori Brewer, Founder & CEO, LBA Ware The CFPB Acting Director, Mick Mulvaney, recently received proposed changes to the LO Comp rule submitted industry associations. With many companies experiencing tighter margins and competitive pressures from fintech lenders entering into the industry, will 2019 be the year of change for LO Comp? Join a panel of distinguished experts who will talk about the future of LO Comp, the proposed rule changes and most importantly the potential impact to loan originators and mortgage lenders of all shapes and sizes. This is one session you do not want to miss. 3:30 p.m.-4:00 p.m. Break 4:00 p.m.-5:00 p.m. The Future of Wholesale and Correspondent Lending Featuring: Kevin Peraino, Chief Lending Officer at Paramount Residential Mortgage Group Inc.; Allen Middleman, SVP, Freedom Mortgage; and Brian Vieaux, SVP, Third-Party Originations, Wholesale & Correspondent Lending, Flagstar Bank Wholesale lending has been one of the fastest growing channels in the mortgage industry for the last three years. Additionally, as the economy improves, some brokers are looking to become lenders and grow their retail platform as a mortgage banker giving creating more opportunity for correspondent lenders. This session will feature of panel of senior executives from the wholesale and correspondent channel providing their perspective on the future of these two channels.

5:00 p.m.-6:00 p.m. Expo Pavilion Featuring the “Cocktails & Connections Reception” and drinks and networking in the Expo Pavilion. An exciting kick-off celebration for conference attendees to enjoy refreshments, networking and an exclusive preview of The Pavilion, featuring more than 40 exhibitors showcasing technology tools, resources and products to help attendees grow their business or career, and Welcome Remarks from Tony Thompson, Founder & CEO of NAMMBA. 6:00 p.m.-8:00 p.m. Partner Networking Event New to CONNECT 2019, we’ve created a special time for you to connect with all of our sponsors, meet new friends or simply enjoy the sites of beautiful Buckhead, Atlanta. 6:30 p.m.-8:00 p.m. NAMMBA Private Dinner (Invitation Only)

Friday, April 26 7:30 a.m.-6:00 p.m. Registration 8:30 a.m.-9:00 a.m. Opening Remarks Tony Thompson, NAMMBA Founder & CEO recaps the first day of CONNECT 2019, while setting the stage for an empowering, informative and exciting day of speakers and sessions. 9:00 a.m.-10:30 a.m. mPower: Closing the Gender Divide Moderated by Marcia M. Davies, Chief Operating Officer, Mortgage Bankers Association and Founder, mPower; and featuring Claudia Merkle, President, National Mortgage Insurance Corporation; Susan Stewart, Chief Executive Officer, SWBC Mortgage; and Cerita Battles, SVP-Head of Retail Diverse Segments, Wells Fargo Home Mortgage This leadership panel, led by Marcia M. Davies, will address today’s gender equality challenges and discuss workplace solutions. These senior executives will share inspiring professional stories and highlight what they are doing to help eliminate the gender gap. This is an important dialogue, leaving you with invaluable lessons learned and new ways you can help your company be committed to gender equality. Men and women are invited to attend this special session. 10:30 a.m.-10:45 a.m. Break 10:45 a.m.-11:30 a.m. Session Featuring: Casey Cunningham, Founder & CEO, XINNIX, The Mortgage Academy; Erica Holmes, Vice President Operations, ISGN Solutions; Julie Piepho, CMB, CML, President-National Operations, Cornerstone Home Lending; and Patrick Carey, SVP, National Fulfillment Executive, Consumer Lending, Bank of America With more than 30 years of diverse retail mortgage banking experience, Casey Cunningham is one of the most influential visionaries in the industry. A close advisor to prominent executives across the nation, her ability to lead and transform is without rival. Cunningham’s passion for professional standards, relevant education, sales productivity and leadership accountability has come of age at a time when technology and demographic changes are reshaping our industry. 11:30 a.m.-12:30 p.m. Mega Trends Impacting Your Business! Featuring: Rob Chrisman, Capital Markets Consultant, Chrisman Inc. Hear some of the industry’s renowned practitioners discuss the current state of the mortgage industry and have open dialogue on all of today’s important issues–loan officer compensation, industry

consolidation, marketing agreements and regulations impacting our industry. This will surely be one of the conference most anticipated sessions. This session will give you a glimpse into what the future of our industry will look like over the next couple of years. 12:30 p.m.-2:00 p.m. Lunch Break at The Pavilion 2:00 p.m.-3:00 p.m. Session Featuring: Eric Thomas, CEO, Eric Thomas and Associates LLC The story behind Eric Thomas who was a high school drop-out, would become one of the greatest inspirational stories in the modern era. Very few individuals on the planet can say they’ve overcame all odds and reached massive success. For Eric Thomas, he is surely one of those people who experienced incredible challenges along the path of life. Born in Chicago, Illinois, he spent most of his childhood and teenager years in Detroit. Life wasn’t easy at all for him as he faced adversity and not knowing his father throughout his childhood. For two years, Eric Thomas was homeless and lived in abandoned buildings. Just to survive, he would eat out of trash cans. Today, Eric Thomas, Ph.D. is a critically-acclaimed author, world-renowned speaker, educator and audible.com Audie Awards Finalist. “ET,” as he is better known, has taken the world by storm, with his creative style and high-energy messages. 3:00 p.m.-3:15 p.m. Break

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3:15 p.m.-4:00 p.m. Session Featuring: Cindy Ertman, Success Strategist, The Defining Difference One of the great leaders, authors, coaches and successful success strategists shares her success secrets that will help you define your life and put you back on track to living a purposeful, balanced, financially fulfilled and happy life. Cindy has helped build one of the most successful mortgage companies in America, RPM Mortgage. She has been acknowledged as one of The Top 100 Most Influential Mortgage Executives in America by Mortgage Executive Magazine– four years in a row. She also serves on the faculty for one of the nation’s largest mortgage training companies. 4:00 p.m.-5:00 p.m. Expo Pavilion Spend time with our partners and vendors exploring all the tools and resources you need to take your business and career to the next level. 7:00 p.m.-10:00 p.m. NAMMBA Awards Gala/Live Music Featuring: Keynote Speaker Sue Woodard, Chief Customer Officer, Total Expert Honoring NAMMBA’s “Top 100 Originators” and NAMMBA’s “Best Places to Work,” take part in a formal evening event celebrating the achievements of the top diversity originators in the country. This exciting evening will entail a keynote and live entertainment by one of Atlanta’s most well-known bands.

Saturday, April 27 NAMMBA Sales Academy Join us for a special day designed to help originators who want to grow their purchase business. This day is designed to show you how to go to the next level by learning from successful originators who are already doing it. We are bringing some of the best originators from across the country to cover topics including–how to gain more realtor business, breaking into the builder market, niche products (203k and non-QM lending) time management strategies and more. 8:00 a.m.-9:00 a.m. Registration

9:00 a.m.-9:45 a.m. Sales Session #1A: Win by Noon Featuring: Todd Bookspan, Founder, Win By Noon Todd Bookspan is the founder of Win By Noon, a business planner designed to help sales professionals change their daily focus and find success in reaching their targeted goals. Todd is also a business coach and mentor to top sales performers and business executives. Todd is frequent speaker at industry events, and co-host of the weekly Mortgage Coach Productivity Mastermind. This session is will help you develop a game plan to increase productivity by completing nonrevenue generating task at the start of your day. 9:00 a.m.-9:45 a.m. Sales Session #2A: Realtor Mastermind Featuring: Tommy Jones, Loan Officer, SWBC Mortgage Tommy Jones is a top producing Loan Originator for SWBC Mortgage in Dallas, Texas. In a competitive market, Realtor referrals are critical for an Originator’s success. In this class, Tommy will show you a system he uses to connect with new Realtors by inviting them to participate in a Realtor Mastermind Group with their peers. This system results in Tommy building a meaningful relationship with his new agents and getting new loans from them. 9:00 a.m.-9:45 a.m. Sales Session #3A: Out of the Box Strategies to Build Your Business Featuring: Chris Reshetar, Branch Manager/Loan Officer, NFM Lending Chris Reshetar, Branch Manager for NFM Lending will show you how to develop relationships with Real Estate Agents by not cold calling on them, but using out-of-the-box strategies to add value to agents. As a top producer, Chris receives the majority of his business from Realtor referrals. However, these referrals are the result of Chris adding value to his agents by partnering with social media, creating radio shows and other unique methods to build relationships with top producing agents. This session is for those who are looking for unique ways to generate Realtor referrals. 9:00 a.m.-9:45 a.m. Sales Session #4A: Best Practices for Asian LOs Featuring: Dick Lee, EVP, Drew Mortgage Associates; Michelle Kim, Mortgage Consultant, HSBC; and Ace Watanasuparp, Regional Vice President of Residential Lending, Citizens Bank This session is designed for participants to hear top Asian originators from across the country share best practices on how to take their business to the next level for those who are marketing to this segment or looking at doing business with this group of homebuyers. The panelist will share tactics you can implement to build stronger relationships with Asian realtors and consumers, thus increasing your production. 9:45 a.m.-10:00 a.m. Break 10:00 a.m.-10:45 a.m. Sales Session #1B: Create A Niche With 203K Lending Featuring: Indu Kapoor, Branch Manager/Regional Renovation Manager TX, Guaranteed Rate Indu Kapoor, Branch/Regional Manager for Guaranteed Rate is one of the top 203K originators in the country. The rehabilitation market is projected to continue to grow over the next several years with buyers opting to stay in their homes versus purchasing new ones. Indu will share with you resources she uses to develop partnerships to help her create a niche in this growing market. 10:00 a.m.-10:45 a.m. Sales Session #2B: Making a Move From Banker to Broker? Featuring: Shawn C. Williams, President at Fortis Mortgage Thinking about opening your own mortgage brokerage? Shawn

Williams, President, Fortis Mortgage is a seasoned mortgage professional who recently transitioned from mortgage banker to starting his own mortgage brokerage. In this session, Shawn will walk you through the process from start to finish on the steps you should take when transitioning from banker to broker.

11:00 a.m.-Noon Keynote Speaker: To be Announced

10:00 a.m.-10:45 a.m. Sales Session #3B: Best Practices for Latino Loan Originators Featuring: Chris Roberts, Vice President, Senior Loan Officer, Regions Bank This session is designed for participants to hear top Latino originators from across the country share best practices on how to take their business to the next level for those who are marketing to this segment or looking at doing business with this group of homebuyers. The panelist will share tactics you can implement to build stronger relationships with Latino realtors and consumers, thus increasing your production.

1:30 p.m.-2:45 p.m. Top Producer Panel … The Next Level: Success Secrets of the Best LO’s in America Featuring: Robin McCauley, Loan Officer, Caliber Funding; Alex Varela, Branch Manager, Prime Lending; and Rocio Portella, Loan Officer, Annie Mac Home Loans Why is it so many Loan Officers get stuck at four or five loans a month, even with decades of experience? Stuck in a seemingly never-ending feast or famine cycle doing nine or 10 one month, followed by one or two the next? You spend one month filling the pipeline and then the next working ridiculous hours just getting those deals to the finish line. Hear from some of the country’s top professionals on how they’ve built a business to compete in a tough purchase environment.

10:00 a.m.-10:45 a.m. Sales Session #4B: The Anatomy of a Top Producer Featuring: Alex Varela, Branch Manager, PrimeLending Before you become a top producer, you must become a great practitioner with the X’s and O’s to scale your business. Join one of the top originators in the country as he personally walks you through how he builds his business by becoming the best originator in his market. Alex will share steps you can take to strengthen your foundation and tools you can use to make sure you can win every deal. 10:45 a.m.-11:00 a.m. Break

Noon-1:30 p.m. Lunch Break at The Pavilion

2:45 p.m. Closing Remarks CONNECT 2019 adjourns … many thanks to our sponsors and exhibitors. We look forward to seeing everyone return in 2020!

Sunday, April 28 9:00 a.m.-Noon Board of Directors Meeting

For more information, visit NAMMBA.org. 61

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Independent Mortgage Originators By Andy W. Harris, CRMS

Edge Home Finance: Tom Stafford Company NMLS#: 891464 / Personal NMLS#: 262409 MortgagesByTom.com

MARCH 2019 n National Mortgage Professional Magazine n

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his month, I’m interviewing Tom Stafford from Edge Home Finance Corporation in Castle Pines, Colo. Recognized by Denver’s 5280 Magazine as a “5Star Mortgage Professional, Tom has been in the mortgage industry since 1998, helping clients ranging from first-time homebuyers to seasoned investors.

Tom, tell us a little about yourself and your career. Tom Stafford: I started in the mortgage industry in July of 1998 with a company in Northern California. I quickly worked my way up the ladder and each promotion seemed to take me to a new location—from Northern California to Southern California and then to Dallas where I was eventually overseeing the entire state of Texas. As I got further into upper management, I also got further from what I really enjoyed: Helping my clients. Eventually, I gave up the management role and just originated loans and have been doing so for the past nine years in the Denver area. I understand you are a Mortgage Broker now after previously working as a Mortgage Banker. What motivated you to make this change? Tom Stafford: I think I always knew Mortgage Brokers were able to offer better rates and pricing than the various retail places I worked at, but one day a Broker from Edge Home Finance Corporation engaged me in a rate conversation. I knew the place I was working was competitive with other large retail lenders, so I welcomed it. When I realized that he was beating me by over a half a percent on VA pricing, I could no longer do that to our veterans or any other clients. What would you say so far are the biggest differences you’ve experienced coming from the retail side since you were a Broker before? Tom Stafford: The freedom and ability to at least compete on every single deal. I honestly don’t know if everyone can deal with the freedom. If you need a boss watching over you, stay at your retail bank. If you can manage your time and want to feel great about rates, pricing and the service you are able to provide, make the jump to the Mortgage Broker world.

How would you compare pricing when compared to the Mortgage Banker world? Tom Stafford: I can just tell you my employer, Edge Home Finance, was beating my retail “Direct Banker” model by 1/4th on a conventional and 1/2 on FHA and VA. That was just on rate, but where almost ever retail place I have worked charged $1,000 or more in junk fees, I don’t have to sell any as a Mortgage Broker. What are you seeing in your local market in terms of trends, inventory and consumer/realtor mortgage education? Tom Stafford: The Denver market has been hot for the past four years and this year is no different. There is an inventory shortage that has set up an environment where buyers can expect to compete against multiple other offers. Do yourself a favor and get preapproved by a local Mortgage Broker that will help get your offer accepted. I know the myth as you mentioned of losing control as a Mortgage Broker is finally being exposed to the market and quite the opposite. What are your experiences on controlling the process? Tom Stafford: This is probably the funniest thing about what retail bankers have left. They know they cannot compete on rate or pricing, so they go to the old, “you don’t want to use a Broker because they have no control over your file!” The truth is, I have more control as a Broker, not less! What would you say are your best forms of marketing today to generate new business? Tom Stafford: I’m blessed to work with some fantastic Realtors who really care for their clients. My main form of marketing these days is just educating them on the differences of the retail versus broker model. The more of them who understand that the Broker model is much better for their clients, the better for all of us.

Are you an Independent Mortgage Broker? Do you have something you’d like to share? Reach out to me at AHarris@VantageMortgageGroup.com for future article considerations. Andy W. Harris, CRMS is President and Owner of Lake Oswego, Ore.-based Vantage Mortgage Group Inc. and Past President of the Oregon Association of Mortgage Professionals. He may be reached by phone at (877) 4960431, e-mail AHarris@VantageMortgageGroup.com or visit VantageMortgageGroup.com.

heard on the street

continued from page 31

NCS Forms New Credit Reporting Affiliate, Service First Information Solutions

Member First Mortgage Selects Blue Sage’s Digital Platform

National Credit-reporting System Inc. (NCS) has announced that its Chairman Robert and President/CEO Curtis Knuth have formed a new company from the purchase of Credit Data Solutions LLC (CDS), Service First Information Solutions LLC (Service 1st), which will continue operating from the Redding, Calif. facility and move administration functions to Egg Harbor City, N.J. Service 1st will function as NCS’ credit reporting affiliate and assume NCS’ retail distribution channel. Service 1st’s newly acquired retail channel will serve end-user clients, such as banks, credit unions, Mortgage Brokers and Mortgage Bankers. NCS will retain its wholesale distribution channel for resellers and focus on creating new marketplace solutions for both entities. “Originators are desperate for new solutions that replace old ones,” said Curtis Knuth,

Blue Sage has announced that Member First Mortgage, a credit union service organization (CUSO), has chosen Blue Sage as its mortgage origination platform. Member First Mortgage provides a complete range of conventional and government loans and performs loan processing, fulfillment, servicing and other mortgage-related services for more than 200 credit unions nationwide. All mortgages originated on behalf of Member First Mortgage’s credit union members will be created through the Blue Sage Digital Lending Platform, a browser-based, highly scalable solution capable of supporting any mortgage channel, including retail, wholesale and correspondent lines of business. Built, managed and delivered through a cloud environment, Blue Sage can be

NAHREP Rebrands With New-Look Logo

The National Association of Hispanic Real Estate Professionals (NAHREP) has introduced a new brand look, featuring a new logo. “Logos set the tone for an organization and have a significant impact on public

Loan Vision Lends a Hand to American Pacific Mortgage’s Growth

Loan Vision has announced that American Pacific Mortgage (APM) has reported significant advancements in its financial reporting capabilities since adopting the solution in mid2018. APM, a top 15 independent mortgage bank based out of Roseville, Calif., reported that the Loan Vision reporting suite is helping manage costs at a more granular level not just for the executive team, but also for its more than 175 branches. “The visibility Loan Vision has given into our financials, the ability for our branches to have real-time financial data, understand how to get to that, and the ease of getting to that information has been a huge success,” said Prateek Khokhar, Chief Financial Officer at continued on page 88

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President/CEO of National Credit-reporting System and now CEO of Service 1st. “They don’t want to bolt on two products to the existing two they’re using for qualification of the borrower. Inefficiencies like these are significant contributors to why the industry is failing to realize cost reductions from new technology, such as POS platforms and borrower qualification tools. The relationship between NCS and Service 1st creates a highway to introduce new solutions to the marketplace economically.” Service 1st will leverage NCS’ strength in verification solutions and quickly introduce packaged solutions for home equity lending in the coming months. The company is expecting focus from credit unions and banking institutions on home equity to increase this year. “Theresa Dunham and the team at Service 1st have a terrific relationship with their clients,” said Robert Knuth, Chairman of NCS. “We didn’t want to disrupt those relationships they’ve nurtured for many years. We’re excited that they’re excited at the direction we’re pointing Service 1st.”

perception,” said NAHREP CoFounder and Chief Executive Officer Gary Acosta. “Our original logo helped establish our brand in the market as an important housing advocate. As the organization evolved and further defined its role in housing and economic empowerment, our board felt it was time to modernize our logo in a manner that reflected our broader focus while maintaining a strong connection to our roots.” NAHREP’s new logo features three different-sized dots in the organization’s colors of blue, orange, and a new shade of green, clustered above the letter N. Representing the organization’s nationwide network, the dots come together in the logo just as NAHREP members and partners unite for a common mission. Each of the three dots also represents a pillar of NAHREP’s mission statement: education, advocacy, and networking. The configuration of the dots is also meant to resemble the roof of a house, a nod to the industry it serves. “NAHREP has always been more than a typical real estate trade association, and it’s exciting to see it reflected in our new logo,” said 2018 NAHREP President Daisy Lopez-Cid. “We look forward to future growth under the new brand image.”

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of the Firstsource family, Sourcepoint draws from the tools, talent, and backing of its publicly-traded parent company which serves Fortune 100 Healthcare, BFSI and media companies. Sourcepoint’s daily focus is on leveraging its tools, capabilities and people to help point its customers forward. “April will be the three-year anniversary of our acquisition by Firstsource,” said Erik Anderson, President and Chief Executive Officer of Sourcepoint. “During that time, and despite significant market volatility, we have thrived– more than doubled our size, deepened our relationships with existing clients, added great new clients, overhauled our leadership and management teams, and developed an entire suite of new products and services. Most importantly, along the way, we have discovered the early contours of a company that is uniquely positioned to help our clients succeed. To celebrate the ending of one chapter and the start of a new one, we believed now was the right time to unveil a new name and a new brand that would symbolize who we are becoming and who we aspire to be.”

accessed on any device and handles pricing, underwriting and loan decision-making from the point-of-sale stage all the way to the closing and funding of a loan. “Unlike most loan origination software, Blue Sage was not built with technology that was developed more than a decade ago and is continually repackaged to look new,” said Member First Mortgage Chief Executive Officer Jerry Reed. “It was written in current software language and includes a rich system of APIs, making it a more fluid system that offers better connectivity than any other product on the market. And because Blue Sage is a cloudmanaged system, we can add new features and capabilities for years without constantly building new bridges to third-party software and services. It’s completely superior to anything else on the market.” The Blue Sage platform comes equipped with borrower-facing loan application tools that enable credit union members to manage their own mortgage experience. After a borrower applies for a loan online, Blue Sage automatically calculates fees and creates electronic disclosures that are then sent to the borrower for e-signing, saving valuable time and effort. All vendor services—such as appraisals, title and flood insurance—can be automatically ordered online through Blue Sage’s workflow as well. “Member First Mortgage shares our view that mortgage technology should be simple and always place the borrower first,” said Joe Langner, Chief Executive Officer of Blue Sage. “We’re excited for the opportunity to help hundreds of credit unions create a unique mortgage experience for their members by simplifying the mortgage process, eliminating paperwork and dramatically reducing the time and expense it takes to close loans.”

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Diversity in Mortgage Lending Recruiting a Diverse Workforce ... A Woman’s Perspective By Dalila Ramos

ike most folks in our industry, I did not grow up as a child and say I wanted to be in the mortgage/real estate industry … it just happened. After a two-year medical assisting program in a community college in Chicago, I started my medical career and quickly found out it wasn’t my cup of tea. I didn’t have the heart, nor stomach, to deal with certain issues. So, during a lunch break in the fall of 2001, I opened a newspaper (yes, I am old) and saw an ad for a title company looking to hire a full-time receptionist. I called the number on the ad right away and got an interview. The company is a famous title company in Chicago. The next day I went to the interview. That day I met Mike Cusack, I call him Michael Patrick to this day. Mike is still with the title company and is the acting Senior Vice President and Regional Manager of Illinois. I learned so much during my two years at this title company, as my tenure was during the infamous refi boom in the early 2000’s. Not only was I the receptionist, I assisted in translating in Spanish-speaking closings. Those days were non-stop crazy with closings. During those closings I learned how to read a 1003, what was escrow, homeowners insurance, property taxes, etc. … all in Spanish too. Thus, began my mortgage/real estate career. After my two-year run at the title company, I had a slew of mortgage industry jobs. I was a Processor, Loan Originator, worked on HELOC’s, an Account Executive for a sub-prime lender … you name it, I have done it all within the mortgage industry. Then came the position that would take this from a job, to a career. I become a National Recruiter for a large correspondent mortgage company headquartered in Chicago. However, currently I was already living in Orlando, Fla. for a few years. I spent two years at this company, followed by another two years at one of the largest mortgage lenders currently today. It was during these years actively recruiting that I learned my God-given talent, my calling you may say. I learned the ability to build relationships, and not just to build them, but to maintain them as well. Recruiting and relationship-building is one of those careers that I believe could be difficult to teach. Most recruiting is done over the

phone, so it requires you to cold call, pick up the phone and strike up a conversation with someone you may have never met. Now it’s not the only way nowadays. With technology and social media like Facebook and LinkedIn, there are so many ways to reach out and communicate to someone. But I am still a fan of the old school phone call. Also, when they don’t pick up, and you go to voicemail, it’s an opportunity for you to practice your 30-second commercial. I am a woman and a minority, so I check both boxes, which I hate to say, but works in my favor when recruiting. After years of recruiting and building relationship across the country, I feel I have a great amount of experience and advice for those lenders and companies looking to recruit, and more importantly, retain women and minorities within their organization. Below I am going to share vital information that can help when actively recruiting women and minorities. Again, this is from my personal experience. Before calling a potential recruit, make sure you do your homework on them. Take a few minutes and do a quick social media or Google search on them. Find out if they have a family or children. What their favorite sports team is, or where they went to college. Even their favorite food or holiday. Find something so you can have a connection with them. With technology at the tip of our fingers, this could take a just a few minutes. If you get a recruit on the phone, of course you tell them who you are and what company you represent, but don’t necessarily talk about yourself or your company right away. Keep it light. If they recently made a move to a new company, ask them how the transition is going. If you connected with them via LinkedIn, thank them for the connection. Maybe even tell a light joke. When they ask me, “How am I doing?” My response is, “I woke up … that’s always a plus!” I typically always get a laugh, and we all know that laughter is powerful and breaks the ice when starting a conversation. If you keep the conversation light and short, they will pick up the next time you call. Now we get to the meeting or coffee time with your recruit. By this time, it took you a few phone calls and conversations to have them sit and meet with you in person. Make sure you confirm the appointment the day before and make it a point to be on time. During your meeting, continued on page 66

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recruiting a diverse workforce

put away your phone! I know this sounds like common sense, but you would be amazed at how many people violate this rule. Be respectful of their time. If you see your recruit look at their watch or phone, wrap it up. Lastly, follow up and thank them in a timely manner. Typically, 24 to 48 hours after your meeting is a good time frame. I tell people all the time that recruiting is just like dating. In the beginning when you started dating your spouse or partner, you gave them all of your attention and time. You would call, let them know you are thinking of them and send them flowers, all to make them your girlfriend or boyfriend. Then, the honeymoon phase is over, and your partner gets comfortable and stops putting in the effort. Well, that’s just like recruiting. In the beginning, you call your candidate all the time. Make sure you return their calls in a timely manner, answer any of their questions, put together the perfect offer letter, all to get them over the

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finish line and join your company. Then once they are over, the effort and attention drop off. The candidate or new hire no longer feels that love or attention, and if their onboarding experience is a bad one, trust me, they will be looking for the next gig within six months. I no longer recruit. I run business development for a non-profit in the mortgage/real estate industry. My organization helps promote the professional development, training and networking for women and minorities. However, we are an allinclusive organization. We currently have 28 chapters across the country, and we continue to grow. Ninety percent of our members are women or minorities. One of our strategic initiatives, and my personal favorite, is Mission 2025. We all know that the average age of a Loan Originator or Real Estate Agent is in their mid-50’s. As these professionals get closer to retirement age, we will have a mass

exodus of folks leaving the industry, and no one to fill that void. My organization is going to colleges, even high schools, and letting these kids know about our industry. There are so many different paths to choose from within the mortgage/real estate industry. They should at least know we are an option. I am active within my local chapter here in Florida, and a few others as well. I see more and more women, especially women of color, getting involved in the organization. They come to our events to connect, share ideas on

what is working, and how to improve themselves. I see women attending with their daughters and introducing them to their connections. More importantly, I see women active in the mortgage industry in so many different channels—from origination, to loan servicing, social media and marketing, human resources and technology. We are dominating! For me, the mortgage industry is more than a job or career. It has allowed a woman of color and a single mom of two boys to have a quality of life, be financially independent, own property and still have dinner ready when they get home from school. I can’t think of another industry that can offer that.

Dalila Ramos is Director of Business Development for the National Association of Minority Mortgage Bankers of America (NAMMBA), an organization focused on the professional development of women and minorities. Born and raised in Chicago, she started her mortgage career in 2001. She currently resides in Orlando, Fla. with her two sons. Dalila is an active member of her church, and a MakeA-Wish volunteer where she grants wishes in Spanish. She may be reached by phone at (404) 348-0557 or e-mail Dalila.Ramos@NAMMBA.org.

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All In: Increasing Engagement Among Minorities and Women in the Industry By Quincy Amekuedi istorically speaking, the housing finance industry was built, developed and operated by faces that looked fairly similar to one another. Today, however, those faces are changing and representing a wider range of experiences from varying ethnic, socio-economic and professional backgrounds. This shift didn’t happen overnight, but it can be seen through the proliferation of groups like the National Association of Minority Mortgage Bankers of America (NAMMBA), the National Association of Professional Mortgage Women (NAPMW) and Women in Housing & Finance. In a day and age where copious examples of undeniable research on the benefits of diversity to business performance are available, it’s important to understand that it’s not enough to just attract more diverse candidates to the housing finance industry. It is also critical that your organization lays out a plan to keep those diverse employees engaged in making meaningful contributions to your company’s progress and the industry overall. Let’s walk through some thoughtful approaches on how to make genuine strides in increasing engagement among minorities and women in the mortgage industry.

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Inclusion: It’s here to stay For at least the past decade, you’ve heard the word “inclusion” in every board room, focus group, and roundtable discussion. It’s likely been etched into your memory because, simply put, the importance of being inclusive is not going anywhere. Inclusion is not just the latest buzzword. It’s the next evolution of diversity, as we shift our focus from not just attracting diverse talent to the housing finance industry, but also retaining that talent. The age-old question of how to attract more diverse candidates to housing finance now has a second part— once they’re here, how can we keep them engaged and invested? When we talk about inclusion, we’re not just referring to being inclusive of someone’s physical

too. Give your minority and female employees the platform to build their skillsets and contribute in a meaningful way. Include them in your attendee lists for industry conferences or professional organizations, and charge them with bringing back their “learning” to your business. Not only will this allow them to assess the event through their own lens, but it also will position them as a knowledgeable resource among their colleagues as they share their impressions and new information. Advancing engagement, inclusion and the company all at the same time. l Don’t let them be “The Only.” There are many organizations where certain employees may feel alone, because they may often find themselves as the only_____ person in the room. While this can’t be avoided in every meeting, you can work to make it occur less often. Be intentional “The age-old question of how to attract more diverse candidates to about hiring an employee housing finance now has a second part—once they’re here, how can population that represents the customers you serve and make we keep them engaged and invested?” sure they’re aware of your company’s support systems once they’re hired. Whether that’s a companies. While the housing differences, but also their mentorship program with a senior finance industry has made some experiences, perspectives and leader, affinity groups, or just progress, there is still a lot of abilities. If your company plans to overall healthy inclusive work to do. Diverse employees make a more concerted effort to be conversation within the also want a seat at the table more inclusive of minorities and organization, strive to be more and appreciate having their women, there are a few things you inclusive every day and eventually can do to ensure all parties benefit: voices heard. Be open to their it will become the norm at your l Show off your values. What’s opinions; build mechanisms that company. important to your business? Is encourage sharing across levels bottom-line profit all that of the business. Not because Lead the way matters, or does employee you’ve been forced, but The phrase “The apple doesn’t fall experience rise to the top? because you understand the far from the tree” isn’t just for rowdy Maybe it’s a combination of very real value of diverse kids and their parents. The same is both. It’s vital to be crystal clear perspectives in driving the best true in business. Your senior leaders on your business priorities. To outcomes. We’ve all seen what are your tree and whatever cultural achieve them in an inclusive can happen when there aren’t fruit they bear—be it tasty or manner, though, you need to be enough differing opinions or rotten—are more times than not, a just as explicit about how your perspectives in decision-making direct result of how they lead and employees work together and rooms. Products or services get engage with others around them. If the behaviors that are released that miss the mark with your top-level executives are more rewarded—in other words, your customers for reasons others in concerned with being the smartest values. If you don’t have them, your organization would have person in the room than seeking out define them loudly and noticed as they came to the diverse perspectives, you can repeatedly. If you have them, project through a different lens. expect the organization to reflect make sure you’re talking about Don’t put yourself or your that same non-inclusive mentality. them and living them every day. company in a position where Conversely, if your leaders truly live l Everyone wants to be heard. forgetting to engage your by an open-door policy, actively Historically, women and diverse workforce results in your seek out the opinions and thoughts minorities haven’t always been customers forgetting about you. of others, and demonstrate their well represented at the top commitment to hiring a diverse l THEIR growth is YOUR growth workforce that represents their decision-making levels of most

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community, it should come as no surprise that their employees carry out those same principles.

It’s not a race Increasing the engagement of

good as you thought should give you a decent head start. We’re all in this together, and we’ll all be the better for it.

Quincy Amekuedi is the Recruiting Leader for Genworth Mortgage Insurance, where he works with various business partners to set strategies for recruiting, employment branding, and diversity and inclusion across the organization. Amekuedi earned a Bachelor’s Degree in Brand Management and Marketing from North Carolina State University and joined the staffing and recruiting industry in 2012. The statements provided are the opinions of Quincy Amekuedi and do not reflect the views of Genworth or its management.

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Don’t let the data scare you When it comes to engaging a diverse workforce, we’re either too scared to see what the data says or we simply assume that we’re doing the right thing. Consider the data your friend and use that to inform your strategy or areas for improvement and growth. Look at your retention and promotion rates of minorities and women to see where you are. Look at your engagement scores across different cuts of demographics. Sometimes it’s not pretty and may even feel downright discouraging, but use that as your fuel. Your fuel to make a difference in your company and change the game. Your fuel to develop strategies and approaches to engage these groups to make significant strides toward your business goals. You have to start somewhere and if you don’t know where you are, then you won’t know where to go or how to get there.

environment, leading by example from the highest levels of the company, and being open to the fact that your data may not look as

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To take it a step further, it’s also important that minorities and women see a visible path to attainable leadership and professional development. Develop initiatives and strategies that provide growth opportunities within the organization so employees enjoy a positive and lengthy career with your organization. Whether it looks like a stretch assignment, job shadowing, or rotational programs, there should be clear routes to build their leadership skills, technical skills, and organizational profile. Side note: Before you dive into additional strategies, make sure your minority and female employees (really, all of your employees, for that matter) are engaged in meaningful work. So many people find themselves completing mundane tasks or not understanding how their work moves the organization forward. They end up leaving the office each day feeling as though they haven’t made a valuable or impactful contribution. If your goal is to increase engagement, focus on ensuring their work is interesting and challenging and that they understand why it’s important. Help them to own their contributions and take pride in the fact that each day they have the unique opportunity to make a difference.

women and minorities in the housing finance industry doesn’t have a one-size-fits-all model. It’s also not a race to the finish line. In fact, there really isn’t a finish line. The need for more diversity within the mortgage lending space is apparent—and how to engage diverse employees once they’ve joined should be at the forefront of every organization’s people strategy. While you have to find the route that works best for your business, fostering an inclusive

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Lender Initiatives to Recruit and Retain a More Diverse Workforce By Brooke Mulder would like to start this article by saying that I love the mortgage industry. I’ve been working for financial institutions since business school, which eventually led me into the mortgage space specifically. I’ve worked as a Loan Officer, a Sales Manager for a team of 15 LOs, a Business Analyst, a Call Center Director and an Executive. It’s an exciting, fast-paced, everchanging industry. I love the camaraderie many of us feel when we see the same faces again and again at conferences. I love that for an industry that employs some 350,000 people, it can seem like such a small world. Everybody seems to be connected by one or two degrees of separation. I also love that it’s an industry where people can earn a good living and advance quickly, even without years of schooling. However, just because you love something doesn’t mean you don’t think it can do better. And when it comes to diversity and inclusion, we as an industry can do better. I’ve worked for a mortgage company with a particularly bad reputation for the number of female employees and especially the number of women in leadership roles. I’ve also worked for a company that tried many initiatives to increase diversity and inclusion. I can say with certainty that the company with the diversity initiatives enjoyed lower Loan Officer turnover, as well as a shorter and more efficient recruiting process. The company that implemented diversity initiatives was Freedom Mortgage, and if a company with more than 5,000 employees is able to ensure that diversity is a priority, all companies should be able to. I’d like to discuss a few different things lenders can do to demonstrate a commitment to diversity and inclusion. One initiative that was very successful at Freedom Mortgage was in relation to the MBA’s Path to Diversity Scholarship Program. This program “recognizes existing industry professionals who are seeking to advance their careers through continuing

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education. Recipients receive a voucher to cover course registration fees, up to a maximum of $2,000, for popular MBA Education courses and designation programs.” The way that Freedom Mortgage chose to encourage employees to apply for this program was by covering the airfare and hotel for any employees that were awarded the scholarship, so they could more easily attend one of the educational courses. This is a win/win scenario for any mortgage lender who chooses to adopt this strategy: Not only will the lender be publicly showing its commitment to diversity, but the employee will actually be strengthening their mortgage knowledge at the same time. As a past recipient of the Path to Diversity Scholarship, I highly recommend lenders encourage their employees to take advantage of it. Another thing lenders can do to recruit and retain a more diverse workforce is to support, and encourage employees to participate with, industry-leading diversity groups. A few examples are the National Association of Minority Mortgage Bankers of America (NAMMBA), mPower (MBA Promoting Opportunities for Women to Extend their Reach) and NEXT. These organizations offer regional or local chapter meetings, national conferences, and continuing education options. There are many creative ways lenders can support participation with these groups. A lender can organize its own internal contest to choose an employee to send to one of the national conferences. If that’s not in the budget or having as many employees participate as possible is the goal, there are other options. Many of these groups have chapter meetings. Maybe employees can attend on company time. There are also Webinars and remote events. Why not encourage employees to take an hour monthly to continue their education or network with others in the industry? Get creative—find a way to encourage participation in the way that makes the most sense for your organization!

Another idea for lenders to consider implementing to increase diversity, reduce turnover and improve recruiting efforts is to allow employees to form their own support groups. Have your HR department draft some guidelines for employee resource groups that comply with local and federal laws. This is also something that Freedom Mortgage supported. While working as a Sales Manager for Freedom Mortgage’s Tempe Call Center, I created a group for the women in the office, with Freedom’s support. Our group was named WILMA (the Women’s Initiative for Leadership, Mentorship & Advancement) and our aim was simple: Have a space for women to come together in a supportive environment. We helped employees find mentors (from within the office or the company as a whole), we discussed career-planning goals, we made sure all members were up to date on upcoming networking events in the community, and we were a circle of support in an industry that tends to be very male dominated. Our meetings were during the work day, and our employer paid us for the hour we spent together. My final suggestion for lenders is to make sure any diversity and inclusion initiatives are promoted from the top and socialized. Whether you implement one of the ideas above, or create new ones, the company leadership needs to be publicly bought-in. The executive leadership team should be involved in promoting any ideas or programs. Additionally, lenders will need to make sure that the initiatives

are properly socialized and communicated so that employees are aware of them and how to participate. The best program can’t help anybody if nobody knows it exists! When it comes to running a mortgage company, there are constantly many different balls in the air. Some things the industry is dealing with right now are: discussions on LO compensation, the resurgence of non-QM lending, a housing shortage affecting the purchase money market, the need for automation and constant mergers and acquisitions of lenders. There are so many other things that can take the focus away from making diversity a priority. Some lenders might be thinking they will worry about diversity initiatives down the road, as some of these other issues are a higher priority. I would argue that in 2019, it needs to be one of the top priorities. Lenders will have an easier time with recruiting when new employee prospects see a diverse workplace. Employees that feel supported will be less likely to chase the greener grass of another lender. Finally, a more diverse workforce will help lenders to reach into more diverse markets. I highly encourage any lenders wanting to focus on diversity this year to do one more thing— listen. Set up a meeting with your employees and ask for their ideas. The point of fostering a more diverse workforce is to allow for an exchange of unique ideas and viewpoints. So before starting any initiatives, listen to your employees. Diversity and inclusion can become cornerstones of a company’s culture with a little listening and thoughtful planning!

Brooke Mulder has seven-plus years of experience in financial services. She is currently the Marketing & Communications Manager for MortgageHippo. Prior to MortgageHippo, she worked for three top 15 mortgage lenders and is highly experienced in sales/originations, sales management, performance analytics and business development. She holds an MBA from Marist College and currently resides in Chicago. She may be reached by phone at (623) 229-5099 or e-mail Brooke@MortgageHippo.com.

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Women Weigh In nd no, Iâ&#x20AC;&#x2122;m not talking about pounds on a scale. Iâ&#x20AC;&#x2122;m talking about something far more weighty â&#x20AC;Ś Iâ&#x20AC;&#x2122;m talking about equality, opportunity and power. Worth is often measured by these characteristics. Historically, women have not come by any of these easily. They had to fight. They had to survive. The importance of womenâ&#x20AC;&#x2122;s weight and influence in business, politics, and in the world is nothing new. Since before the days of Cleopatra, Mary Magdalene, Joan of Arc and on to the early days of the United States where Suffragists like Susan B. Anthony made their debut, women have played a major role in making things happen in a very big way. But none of this came without struggle, without blood, sweat and tears. Suffragists, who were later coined as â&#x20AC;&#x153;Suffragettesâ&#x20AC;? (a condescending term), were

By Jill Burns

arrested, went on hunger strikes, and put in prison fighting for every womanâ&#x20AC;&#x2122;s right to vote. â&#x20AC;&#x153;There shall never be another season of silence until women have the same rights men have on this green earth.â&#x20AC;?â&#x20AC;&#x201D;Susan B. Anthony Where women were From the founding of the United States, women had been almost universally excluded from voting. The early days of the womenâ&#x20AC;&#x2122;s rights movement saw the formation of an organization known as the National Woman Suffrage Association in 1869, with the declared object of securing the ballot for women by an amendment to the Constitution. Susan B. Anthony and Elizabeth Cady Stanton were the leaders of that organization. Anthony was considered quite the radical, giving speeches around the country to support a womanâ&#x20AC;&#x2122;s right to vote. She once even voted

in a Presidential election illegally, was arrested and fined. By 1918, women had acquired equal suffrage with men in 15 states. Susan B. Anthony sadly died in 1906, never seeing her lifeâ&#x20AC;&#x2122;s work completed. Fourteen years after her death, the 19th Amendment was passed, finally granting voting rights to women within the Constitution. In recognition of her dedication and hard work, the U.S. Treasury Department put Anthonyâ&#x20AC;&#x2122;s portrait on one dollar coins in 1979, making her the first woman to be so honored. â&#x20AC;&#x153;There will never be complete equality until women themselves help to make laws and elect lawmakers,â&#x20AC;? said Susan B. Anthony. Weâ&#x20AC;&#x2122;ve come a very long way. According to the Center for American Women and Politics (CAWP), in recent elections, the voter turnout rates for women have equaled or exceeded the voter turnout rates for men. The number of female voters has exceeded the number of male voters in every presidential election since 1964.

Voter registration in 2016 reported 83.8 million women registered versus 73.8 million men. Since 1917 when the first woman served in Congress, through 2017 a century later, a total of 365 women have served as U.S. Representatives, Delegates, or Senators. The period from 1977 to 2016 accounted for nearly 70 percent of all the women who have served in the history of Congress. In the House, the women formed a Congresswomenâ&#x20AC;&#x2122;s Caucus to publicize legislative initiatives important to women. What to watch (in womenâ&#x20AC;&#x2122;s legislation) The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was a watershed moment in the financial services industry. A lesser known part of the act, Section 342, was designed to encourage diversity and inclusion in the financial services industry. Under Section 342, regulated financial services agencies were required to establish an Office of Women and Minority Inclusion (OWMI). Joint Standards were later implemented. The goal was to create a framework by which regulated

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entities (including the Fed, SEC, OCC, NCUA, FDIC and the CFPB) would implement and promote awareness of their diversity and inclusion policies and procedures. Within this framework, standards were established that mortgage banking institutions would do well to include in their own standards, such as inclusive practices within their workforce profile from the top down, and committing to these goals within their strategic planning. And the work continues. Of recent note, the State of California enacted a new law mandating that companies incorporated in California and which are listed on major U.S. stock exchanges have at least one female director. At the close of calendar year 2021, there must be at least three female directors if the board size is six or more members.

l Include a written commitment to diversity on your Web site l Check your Web site images and be sure they include a variety of inclusive photos and highlight that aspect of your company culture l Make sure your hiring advertisements and Web pages show authentic images of employees from diverse backgrounds, sharing real testimonials on what it’s like to work for you As a human resources or hiring manager, it’s also important to incorporate blind interviews, and practice looking at resumes without names, ages, or any other data except the educational and career history. Clear your own mind of any potential biases, and be part of the solution.

Power to the women (empowering women through homeownership) Up until the housing crisis of 2008, single women bought more houses than their male counterparts. This positive trend suddenly stopped once lending standards tightened severely in the wake of the crisis. According to NAR statistics, that critical time period brought a drop in single female homeownership from 21 percent to 15 percent, which leveled off by 2014. According to 2014 Census Bureau data, there were 18,057,000 female homeowners in the United States; 10 million live alone, 6.7 million live with relatives without a husband present and 1.3 million live

in two-or-more person households. More single women purchase homes than single men, and women accounted for 17 percent of homebuyers in 2016, with a median income of $55,300; in 2015 they were 15 percent of homebuyers with a median income of $57,300, according to NAR, so women homebuyers did not allow their wages to affect their buying activity Sadly, Home Worth Disparity data reflects that homes owned by single women are often worth less than homes owned by single men in the U.S. Millennials now account for more than 30 percent of the U.S. population, and are expected to purchase an estimated 10 million homes within the next 10 years. This could mean that more than 20 million first-time homebuyers are destined to flood the housing market. Today, more single, female

Millennials than ever are becoming homeowners. It’s critical for lenders to establish solid and reliable policies and procedures to assure fair lending to women, removing all bias from their origination and underwriting processes. Women helping women There are so many organizations out there that you can reach out your hand, your time and your resources to, to lift other women up. Start by lifting your own family, friends and co-workers. If you have an opportunity to help another woman along the way, count it as time well spent. The future will take notice. I like to believe that Susan B. Anthony is somewhere up there watching us, and willing us to go on, willing us to never give up. Some rewards don’t come in our lifetime, yet they are values still worth fighting for.

Jill Burns has been a part of the mortgage industry for more than 20 years, with a proven record in senior operational roles. She first joined the Mountain West Financial Inc. (MWF) team in 2012 as Senior Vice President of Operations, and now holds the role of Executive Vice President of Operations. In addition to oversight of all back office operational functions, she also contributes to setting the company’s guidelines, policies and procedures. Jill’s primary role is to ensure top quality, service, and maximum productivity for all MWF centralized and distributed fulfillment locations.

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Resources abound If you want to make something happen, join in and help be the solution. One such organization, the Women in the Housing & Real Estate Ecosystem Web site, (NAWRB was formed in 2009), works to advance women through their relationships with the Office(s) of Minority and Women Inclusion (OMWIs), Government-Sponsored Enterprises (GSEs), the Small Business Administration (SBA), and other organizations working to bring more diversity and inclusion to the industry. Get involved. Be the solution.

“The day may be approaching when the whole world will recognize woman as the equal of man.”—Susan B. Anthony

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Women’s work “I think the girl who is able to earn her own living and pay her own way should be as happy as anybody on earth. The sense of independence and security is very sweet.”—Susan B. Anthony LinkedIn recently issued a study on how gender impacts the employment candidate’s journey, specifying that women are 16 percent less likely to apply to a job after viewing it, and 26 percent less likely to ask for a referral. The report speculated that women are less likely to apply for jobs when they didn’t feel they met 100 percent of the posted job criteria. This is clearly lost opportunity, as the study also showed that women that actually applied were 16 percent more likely to be hired. The Bureau of Labor Statistics (BLS) reports that among women ages 25 to 64 who are in the labor force, the proportion with a college degree more than tripled from 1970 to 2014, increasing from 11.2 percent to 40.0 percent. Women in the labor force have been steadily increasing, comprising 46 percent of the labor force in 1994 and projected to comprise 47.2 percent by 2024. And notably, women’s earnings as a proportion of men’s earnings have also shown growth over time. In 1979, women working full time earned 62 percent of what men earned; in 2014, women’s earnings were 83 percent of men’s. We still have a very long way to go. As a leader or manager in the mortgage industry, it’s critical for women to step up and become mentors. Bringing up the next generation of leaders is as

important to your company as it is to the individuals you are privileged to mentor. If you’re trying to increase gender diversity in your workplace, there are some things it pays to remember …

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Recruit and Mentor Workers Who Don’t Look Like You By Bill Packer he absence or disparity of women and other minorities is problematic as this lack of diversity creates blind spots on critical issues that impact the underrepresented groups. These blind spots lead to product, systems and marketing designs and programs that don’t appeal to these critical groups. Since nonWhites, including Hispanics, make up approximately 40 percent of the population and women make up nearly 51 percent of our population, do you really want to risk missing these demographics as employees and as part of your customer base? If we’re being truthful, the mortgage industry is not immune. However, an issue that has gone largely ignored for generations is now brought to light and is under a magnifying glass for all to see. In our industry, there are currently more women than men working in entry level and mid-level management positions. However, if we look at the senior ranks, women are underrepresented. If you look at the leaders running large mortgage banks and those given the opportunities to sit on boards, women and other minorities are dramatically underrepresented. The “Glass Ceiling” is real, but I am proud that it has been shattered at AFR, as our President and long-time Board Member, Laura Brandao, would attest. In fact, women account for exactly half of all AFR employees up to and including the Vice President level. I am proud to work at a company which represents gender equality. Of course, we recognize that there is still a lot of work left to do.

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Why is diversity such an issue? To oversimplify, many people have a natural bias to favor those who remind us of ourselves. The key is to recognize this inherent bias and to look for diversity in our candidate pools and provide opportunities to recruit and then mentor workers who don’t look like you. Unfortunately, the issue is systemic. The Federal Reserve sits

“As our customer base changes, and notably becomes more diverse, there is ample business opportunity in making sure these new and growing market segments are being well-served, and a diverse and inclusive workforce is one key to connecting with a changing customer base.”

at the highest echelon of U.S. economic policymaking. Yet, in the banking system’s 100-plus year history, only one African-American and seven women have served as President at any of the Federal Reserve banks. Sad, even ridiculous … but not shocking, right? As employers, we greatly limit our ability to become more racially and gender diverse by not casting a wide enough net when looking to fill key roles. Despite women earning more degrees than men and a significant uptick in college graduation rates among people of color, minority representation remains an issue. As an industry, we have taken steps to reduce gender, racial and ethnic disparities over the years, but progress has been incremental and slow. And, there is no silver bullet to magically “fix things” and kill the issue instantly. The answer must include an open and honest dialogue. The senior executive ranks must

involve the underrepresented groups in those discussions. How can we make our work environment more comfortable for all? How can we help recruit other employees from your community? Retaining the best and brightest requires the same elements that apply to all of us as human beings: Opportunities for advancement, great working conditions, good benefits and salaries. We must also acknowledge that some employees may have issues in their lives that require additional flexibility, including but not limited to workers from economically distressed communities, and single-parents who may have fewer child care resources available to them. More open and inclusive discussions with supervisors about personal situations, including temporary flex scheduling or family leave, are human issues. Retaining great employees requires recognizing that people aren’t only different

from each other, but that they may have different needs, at different times, for different reasons. If you have leaders who are sensitive to personal and cultural needs, race and ethnicity, and diversity of thought, it trickles down … and then inclusion just becomes a way of doing business. Federal agencies are addressing the issue Diversity and inclusion have been foundational principles at the Consumer Financial Protection Bureau (CFPB) since it was created in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In particular, the Act created Offices of Minority and Women Inclusion (OMWI) at all of the federal financial regulatory agencies, including the CFPB. In 2017, the CFPB released a report which outlines several strategies for promoting diversity and inclusion (D&I) in the mortgage industry, presents the business case for diversity, and provides current D&I approaches and practices used by mortgage industry participants. Diversity and inclusion principles are critical to the Bureau’s work because it is required to support and protect all consumers– approximately 320 million of them– across America. The business case rests on the view that we can best serve the many diverse communities that make up the growing American populace, especially those that were historically overlooked, by reflecting diverse backgrounds and experiences in our own ranks. Applying these principles allows us to tap into a broader pool of talent and draw on new perspectives from employees, vendors, and communities. As our customer base changes, and notably becomes more diverse, there is ample business opportunity in making sure these new and growing market segments are being well-served, and a diverse and inclusive workforce is one key to connecting with a changing customer base. That was the thinking that prompted the CFPB to reach out to the Mortgage Bankers Association (MBA) and suggest working together to convene a roundtable of leading companies and officials to discuss issues of diversity and inclusion in the mortgage industry, including representatives from the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Reserve, and Federal Housing Finance Agency. It bears repeating five of the

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topics the CFPB’s report outlines as innovative solutions for expanding diversity and inclusion within the housing industry: l The business case for diversity and inclusion l The importance of leadership buy-in and accountability l Recruiting, hiring, inclusion, retention, advancement, and engagement l Broadening the customer base with new business products l The importance of data Additionally, the Federal Housing Finance Agency Office of Minority and Women Inclusion (OMWI) released its own plan in October, announcing three strategic goals that it will focus on to increase diversity and inclusion from 2019 to 2021 and fulfill the FHFA’s goal to ensure liquidity, stability and access in housing finance. l Goal 1: Strengthen diversity and inclusion understanding to drive cultural awareness l Goal 2: Meaningful diversity and inclusion communication l Goal 3: Ensure OMWI organizational sustainability

Trade associations take up the charge The National Association of Minority Mortgage Bankers of America (NAMMBA) is a national trade association dedicated to the enrichment and betterment of minorities and women who work in the mortgage industry. NAMMBA is a purpose-driven organization that is dedicated to inclusion and supporting advocates for sustainable homeownership in local communities. NAMMBA supports its mission through educating and mentoring mortgage professionals who represent the minority and women segment within the industry and advocating for public policy that supports diversity in the mortgage industry. Now in its third year of recognizing member companies in commercial real estate finance, MBA’s Commercial/ Multifamily Diversity and Inclusion Leadership Award was developed to celebrate company initiatives that were specifically developed and designed to increase internal diversity and inclusion within a company’s leadership and

employee base. We’ve also seen a lot of very positive activity in the Mortgage Broker space. The Association of Independent Mortgage Experts (AIME) has launched a Women’s Affinity Group, for female independent mortgage professionals across all levels to come together to collaborate, seek support and unite to make a positive impact on the industry. The group is creating a place for sharing experiences, learning from challenges and finding inspiration within each other to empower women to charge forward in the shared quest to grow the independent broker channel. Representation matters Diversity and inclusion groups are critically important first steps, but

they are insufficient. What is really needed is for those of us in positions of influence to proactively provide opportunities for hiring, promotion and mentorship across a broad spectrum of culture, age, color, gender, sexual orientation, accessibility challenges, as well as persons with cognitive, social, emotional and other non-apparent challenges. Time and time again, we see that products and messaging from diverse teams, appeal to diverse audiences. In an industry which serves homebuyers from varying backgrounds and every corner of the country, we should strive for all populations to be represented. The mandate goes beyond inclusion–it makes good business sense!

Bill Packer is Executive Vice President and Chief Operations Officer at American Financial Resources Inc. With nearly 30 years of experience in financial services, Bill joined AFR in 2015 and currently oversees Operations, Technology, New Product Development and Marketing as COO. He may be reached by e-mail at Bill.Packer@AFRCorp.com. 75

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Achieving Diversity and Inclusion in Mortgage Lending By Michelle Choquette or organizations across all industries, diversity within the workplace is more important than ever. Not only does a sound mortgage industry require a workforce that is reflective of society at large, but diversity provides a competitive advantage over companies that are not. With greater diversity, recruitment and employee retention rates grow, and it becomes evident to job seekers that those companies do not practice discrimination. It benefits prospective employees, but also employers. More individuals will apply for those jobs because they view diverse employers as treating candidates and employees equally. In turn, employers attract more candidates and have a greater

selection in who they hire. Diversity not only leads to access to a larger talent pool, but it brings fresh ideas and new ways of looking at old problems– further creating a competitive edge. Effectively, customers and communities benefit from better service. Diversity truly is a win-win for everyone. But getting there requires a thoughtful and strategic approach. Diversity starts with recruiting To ensure diversity within the workplace, mortgage lenders must first start with the recruiting process. Every organization wants to hire the very best–this is clear– and to do so, diversity must be an integral part in recruiting. Skill set is important, but diversity must be a priority, as it

increases the success of the organization and creates an overall competitive edge. This leads to greater productivity and engagement, and improved customer service. As part of the recruitment process, mortgage lenders must post job openings online and actively engage with minorities, veterans and even Millennials. Mortgage lenders must also attend different job fairs to ensure diverse recruitment efforts. Finally, it is important that leaders within the company are trained on what to look for when hiring, how to conduct interviews and bring the right teams to the organization, and how to optimize the interview process. At the branch level, it is important that managers oversee policy implementation, consistency and culture within their branch.

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76 Training is essential While recruiting for a diverse workplace is critical, solid training is essential, especially with so many younger professionals entering the industry with little to no mortgage experience. Millennials even agree, with 87 percent saying professional development is important with their job, according to a Gallup survey. While training is often perceived as a huge expense– especially when training individuals with no experience– there are substantial benefits. For people new to the industry, lenders have an opportunity to train new employees to originate loans precisely the way the lender wants and needs, based on regulatory standards. Job-specific training is also crucial and critical to developing leaders and managers. Compliance training must be mandatory for both new and existing team members, but it is also important that team members understand the full life of the loan. This is not typically part of the standard training for Loan Officers, but by

understanding servicing of loans, these individuals have greater opportunities for growth and promotions. Embracing workplace diversity and inclusion initiatives Mortgage lenders must also commit to creating groups made up of all levels of the company within their organizations to discuss how they can champion change, encourage diversity and make people feel comfortable in the workplace. This is key, especially when diversifying staff. Additionally, these initiatives can establish a strong company culture where differences are embraced and valued. Internship programs are also helpful in creating diversity by allowing younger generations to gain experience and test out new industries and professions. But organizations must focus on inclusion directly with its internship programs. In turn, this will help cultivate a diverse workplace. After all, interns are more likely to be hired full-time compared to normal applicants, according to a study by the National Association of Colleges and Employers. The study also found that paid internships turn into official job offers about 65 percent of the time; therefore, organizations should view internship programs as a training ground for top talent. Mortgage lenders should also tap outside resources to encourage diversity. One option is Mortgage Bankers Association’s Path to Diversity Scholarship Program, which recognizes existing industry professionals who are seeking to advance their careers through continuing education. The program enables employees from diverse backgrounds to advance their professional growth and career development. Empowering branches Community involvement is critical. Mortgage lenders must allow branches to promote and market within their communities to diverse groups–for recruitment efforts but also in growing their business. While the Community Reinvestment Act (CRA) was passed in 1977, it is now more critical than ever that mortgage lenders ask themselves if they

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awareness of challenges or areas that need improvement. For instance, did someone leave due to a perception of inequality in pay? Did he or she leave because there wasn’t an opportunity for career advancement? Knowing these reasons can help organizations make necessary changes. Diversity and inclusion are critical today for all organizations and workplaces, especially

“Diversity truly is a win-win for everyone. But getting there requires a thoughtful and strategic approach.”

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Measurement Finally, having diversity initiatives and programs in place is only part of ensuring a diverse workplace. Measuring these programs should be a priority. At a minimum, mortgage lenders should evaluate their initiatives on an annual basis

and ask how they are doing in terms of diversity. But evaluating “diversity” is only scratching the surface. True diversity is about inclusion, which goes beyond numbers and ensuring a good mix of staff. Mortgage lenders must evaluate title and compensation levels. For example, if two people with the same experience were hired as peers, are their titles and compensation equal? Have the timing of their promotions been equal? Evaluating these factors helps ensure that everyone– regardless of age, ethnicity, gender, etc. are being given an equal opportunity to grow and thrive within the organization. Additionally, mortgage lenders must evaluate and ensure that everyone has exposure to key decision makers within the organization and are empowered to make decisions with autonomy. To show that employees and their contributions are valued, organizations must instill this in their company culture. In turn, they promote inclusion. Exit interviews with employees who leave the company are also critical. This can provide a way to raise

With more than 20 years of experience in all aspects of human resources, Michelle Choquette serves as the Chief Human Resources Officer leading recruitment, compensation, benefits, HR information systems, employee relations and learning and development at Gateway Mortgage Group LLC. Michelle is a graduate of Leadership Tulsa and a member of the Society for Human Resource Management (SHRM). She is also active in her community, and currently serves on The Parent Child Center Board. She also has previously served on the board for Credit Counseling Center and Green Country Girl Scouts of America. Michelle is a graduate of The University of Tulsa.

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are truly making the world a better place? This requires commitment to their communities and a strong culture of giving back–from a corporate level all the way to the branch level. It is a way for lenders to reflect its core values and create excitement among team members about coming to work every day and helping each other and borrowers. By engaging employees through philanthropic efforts rather than viewing it like a checkbox item, mortgage lenders can drive transformation and positive change within the community, but also throughout the organization. It also helps drive awareness and educate both employees and members of their communities and promotes diversity, inclusion and tolerance.

mortgage lending. Not only does it create a competitive advantage, but it offers equal opportunity for employees, stronger and more inclusive communities, and better service for borrowers. Achieving this begins with the right recruitment, training, diversity and inclusion programs, empowerment at the branch level, and measurement to ensure efforts are successful. With these key steps, everyone wins.

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Engaging Minorities and Women in the Mortgage Industry By Kelcey Brown t is 2019 and by now, there should be a universal understanding that every person deserves equality; everyone should be treated with respect, regardless of age, race, gender, etc. However, while some individuals understand this and believe it to be true, they are unsure how to act. There are sometimes leaders who understand equality, but who don’t recognize the effect that their actions or comments may have on their employees. They think they can act in the same manner towards everyone without offending others, and everyone will have the same perspective. While that would be easier, it is simply not the case. There has been many movements made to ensure a diverse, engaged society, specifically in the mortgage industry. In fact, the Consumer Financial Protection Bureau (CFPB) collaborated with the financial industry to raise awareness of the importance of strengthening diversity and inclusion. The goal is to not only ensure that everyone is being held equal in their workplace, but also to ensure that each employee feels welcome, and free to engage. In fact, the idea of equality should not even cross their minds because each individual is treated so well. According to the CFPB, diversity refers to the differences that employees and stakeholders bring, including backgrounds, such as parental status, marital status, uniformed status, political affiliation, socio-economic, geographic and genetic information. It also includes differences such as disabilities, cultures, perspectives, working styles, and identities such as race, ethnicity, age, sexual orientation, gender, and religion. On the other hand, the CFPB refers to inclusion as the process of housing a work environment where all employees feel valued and welcomed to share their views and ideas to leverage different areas of the diverse industry. By encompassing this diverse and inclusive workforce, mortgage professionals can remain up to date in many different communities. In turn, this has the ability to help them understand how a wide variety of policies, regulations, and sometimes

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products can affect potential homebuyers or employees. To put things into perspective, Glassdoor claims that 67 percent of jobseekers said a diverse workforce is important when considering job offers. While these should be standards that America upholds as a whole, mortgage professionals can at least make an impact by influencing their own industry to set an example. It is the duty of industry leaders, big and small, to ensure that the workforce reflects the diversity of potential homebuyers, and their own employees as well. In order to do so, efforts should be directed in a strategic way to demonstrate that their work is valued and that their perspectives are welcomed and considered in the decision-making process. Different perspectives are always an advantage to have, especially in the mortgage industry, in order to recognize and connect with a diverse homebuyer. To begin, there always needs to be processes and procedures set in place that are transparent, fair, and unbiased. Employees need to feel that they are in a safe working environment where they are not targeted or separated from the crowd. Lenders must then ensure training to all of their employees to value the benefits of diversity and inclusion, thus establishing sufficient skills to act in different environments than what they may be accustomed to. The CFPB recommends training to work in a multi-generational work environment, how to understand and eliminate micro-triggers in the workplace, how to engaging in difficult but critical conversations, and to understand Equal Employment Opportunity laws. The CFPB paired with the Mortgage Bankers Association (MBA) to collaborate ways in which the mortgage industry can benefit from diversity and inclusion in the workplace. To start, they recognized that diversity and inclusion has the ability to strengthen organizations and improve overall performance of employees. Strong leadership is key in this, allowing companies to build fundamental principles based on diversity and inclusion. They also noted that it is crucial to recruit, hire and advance individuals who have different backgrounds and perspectives. According to Medium,

companies that have more diverse management team actually have 19 percent higher revenue. A diverse group of leaders sets an example for the rest of the company, and allows the company as a whole to take a look at decisions from many angles. Additionally, a diverse workforce allows a company to connect and understand the needs of a diverse group of homebuyers, ensuring a satisfied borrower. The National Association of Minority Mortgage Bankers of America (NAMMBA) is another resource that can be utilized when enforcing a diverse workplace. Their goal is to increase the engagement of minorities and women within the mortgage industry and to develop them into leaders within the MBA at local, state and national levels. As a lender, it would be a great idea to encourage employees to become a member, or provide them with a membership through the company. Not only would they get to hear from experts in the field, but they would be improving their careers and their employers in the process. This idea promotes engagement and demonstrates a lenders dedication to upholding a respectable, diverse workplace. Another subtle way in which a lender can respect the diversity of their employees is by celebrating holidays in the office such as International Women’s Day or Martin Luther King Jr. Day which occasionally get overlooked by some companies. Lenders may even consider special events to promote Pride Month or Black History Month. Events or activities can also serve as team-building exercises, and the company will be sure to benefit from it. By doing so, the company is demonstrating that these holidays matter, without directly commenting. Celebrating holidays is an easy enough task that will keep the whole team engaged, and will also help to show

a lenders’ appreciation toward their diverse group of employees. The mortgage industry as a whole has made strides to promote an equal, respectable environment for the homebuyer, but there is no better way to appeal to a diverse audience than to demonstrate diversity amongst employees. The Home Mortgage Disclosure Act (HMDA) was set in place in 1975 which originally required select financial institutions to provide certain mortgage data to the public. HMDA has evolved over the years, and as of January 2019, began requiring lenders to allow borrowers to select multiple ethnicities or genders on their mortgage applications, thus respecting all potential homebuyers. For example, Start, WebMax’s digital point-of-sale application began following these guidelines long before it was a requirement. This means that a borrower could be both male and female, while also being White, Hispanic and Samoan. These efforts were formulated to engage a diverse group of homebuyers, which is what needs to be brought into the workplace. A company should not simply work towards making a homebuyer feel welcomed and comfortable due to the fact that they are a client; to have a successful, worthy company, mortgage professionals should be doing everything they can to keep all of their employees engaged within the industry, including minorities and women. Overall, regardless of how a company can benefit from upholding a diverse work environment, lenders must realize that it is simply the right thing to do. Every employee should be held at the same standards, regardless of age, race, gender, sexuality, or any other factors. These items do not make a person any better or worse at their position, and they do not make them any less human. With that being said, it is the duty of industry leaders to welcome all mortgage professionals, keeping them engaged, and assisting them in furthering their careers.

Kelcey Brown is Chief Strategy Officer and Executive Vice President for WebMax. Kelcey is responsible for developing, communicating, executing, and sustaining strategic initiatives. He acts as a key advisor to president on critical changes in the competitive landscape, internal employee development and the external business environment while also ensuring that appropriate metrics are in place to measure performance and progress towards strategic goals.

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Novelty of program: A program like this has never been offered in the mortgage industry

Topics for the program: l How to build a high performance sales origination team l How to recruit top LO talent l The most powerful interview questions that uncover LO success DNA l How to leverage LOA’s and Junior LO’s l Build a new loan ofﬁcer training program for your company l How to coach your LO’s to high performance l Build and implement a success plan that works l Create accountability standards for performance that raise company production

l How to benchmark sales growth on a predictable path l How to consistently keep your team motivated for excellence and high performance l How to achieve personal production, leadership, recruiting, managerial and life balance (I will dig deep to answer this one, but it looks real good) l How to get the most out of your support team l How move towards leadership and away from task management l How to run highly effective sales meetings

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Goal of the program: To provide step-by-step training and resources for any leader to recruit, manage and lead a high performance production originator team

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Who the program is for: Company owners, branch managers, sales managers, anyone managing an origination team or looking to build one

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Immigrant Business Owners Are a Good Risk for CRE Lenders By Rohit Arora came to the U.S. in 2003 to get a Master’s Degree in Finance from Columbia University. Shortly after graduating, I joined the management consulting firm, Deloitte Consulting, focusing on business strategy. While working on a project investigating the most profitable portfolios for banks, I discovered that small businesses were the most profitable clients for banks when it came to loans and lines of credit, as well such products as checking accounts. Upon further investigation, I discovered that immigrantfounded startups were the fastest-growing category of small business in the country and that many of them were quite profitable. It’s easy to understand why; in many cases, immigrants that come to this country have given up everything to get here. The situations that caused them to leave their homes and venture to the United States inspired them to make a tremendous leap of faith to come here for a better life. They are “all-in.” Generally, immigrant-owned businesses are frugally run and utilize money that the family has saved for use as start-up capital. But then they begin to grow. When I co-founded Biz2Credit with my brother, Ramit, many fewer foreign-born and womenowned companies were in the marketplace for business financing. There were several reasons. Immigrants often are self-conscious about their ability to speak English. Walking into a bank and asking for a large sum of money can be intimidating for anyone–particularly someone who may not have been in this country very long and speaks English as a second language. Ten years ago, the banking industry was much less diverse than it is now. Thus, cultural differences came into play. In fact, when we founded Biz2Credit and allowed for online applications for small business loans, it eliminated the necessity of going from bank to bank–an intimidating process for an immigrant in search of business funding–and helped eliminate

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cultural barriers and perceived prejudices. Fast-forward a decade, now many banks offer online small business loan applications, and those that have not invested in such technology are partnering with fintech firms that do. Even for companies that bootstrap and self-fund, at a certain point, however, the capital needs of the enterprise may outweigh the reserves of its owners. For instance, the owners of the business who have been renting space may have the opportunity to buy their building or an even larger one. Other times, they might want to buy a building in order to rent out the space. In such cases, they will look for commercial real estate loans. Real estate financing products are available for developers, building owners, brokers and investors and can facilitate structured solutions for all types of commercial properties. The funding can be used for all business needs, including acquisition, refinancing, construction, and rehab. Being born in India, I had an understanding of South Asian entrepreneurs. Once they understood, the necessary paperwork involved and the banking system, they became comfortable with the loan process, word spread into other communities and to mainstream firms–particularly during the post-recession credit crunch during which many banks had turned off the funding spigot. Our experience has been that the loan default rates of immigrant-owned businesses are 20 percent lower than for other companies. Although many times, foreign-born entrepreneurs had little credit history in the United States, after a few years in business they typically prove to be responsible in paying down their debt. Eventually, they prove themselves to be creditworthy. In 2016, we conducted a survey of 1,500 minority-owned businesses and found high optimism. More than 60 percent of minority entrepreneurs felt the American economy’s potential

growth favorable. Further, nearly 80 percent of the respondents expressed a high level of confidence in their companies and strategies moving forward. We also learned that about one-third of respondents identified securing capital as their top concern. Despite their success, minority business owners face challenges including bias and not having a long track record of business operations or credit history. From my point of view, minority and women-owned firms are a good risk for CRE loans for two very important reasons … l Determination: Immigrants to not come to this country to fail. They are willing to work long hours and bootstrap to make their businesses profitable. The same is true for femaleowned companies, which research has shown will often have a harder time securing funding. But when they do, their default rates are actually lower than those of male-owned companies. l Support systems: If times get rough, immigrant entrepreneurs often can fall back on family members for help. It’s part of their culture. There are many entities, including the SBA and SCORE, which provide workshops, training and mentorship opportunities for

women-owned businesses to help them grow. Minority entrepreneurs and women business owners have better access to capital today than they ever did before, particularly as the U.S. becomes increasingly diverse. Online digital loan applications have helped make playing field more level and have increased the speed at which entrepreneurs can secure capital. They are a good bet … but just how good? Research by the National Foundation for American Policy finds that 55 percent of the country’s $1 billion startup companies had at least one immigrant founder. Additionally, the study found that among these privately held billion-dollar startup companies, immigrant founders have created an average of more than 1,200 jobs per company and that the collective value of the 50 immigrant-founded companies is $248 billon. That figure is more than the value of all the companies listed on the stock market of countries including Argentina, Columbia, Peru, Portugal and Ireland. Of course, not every firm founded by an immigrant entrepreneur is going to become a billion dollar company. However, the longer these companies are in business and the more successful they become, the more apt they are to expand and delve into building ownership and real estate investment. From my experience, they are a solid risk for commercial real estate loans.

Rohit Arora is Chief Executive Officer and Co-Founder of Biz2Credit, an online small business financing platform that uses technology to streamline the funding process. Since 2007, Biz2Credit has arranged $2 billion in funding to thousands of small and mid-sized companies. Rohit holds a Master’s Degree in International Finance from Columbia University. He may be reached by e-mail at Info@Biz2Credit.com.

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Marketing to Minorities n 2019, the terms “Representation,” “Inclusion” and “Diversity” have become more than ideas … they are methods in which businesses try to appeal to a wide range of consumers, including minorities. This can be both an exciting and difficult task, as people of underrepresented ethnicities are deeply-rooted in their culture, which can differ from one group to the next. For anyone, who plans to market to these groups, they must understand those differences in order to communicate their message as effectively as possible.

The numbers game It’s important to know the statistics of minority groups, particularly when it comes to homeownership. Some of these groups do not have a bright record when dealing with buying or owning a home. In 2017, Pew published a study over the challenges that African-

Americans and Hispanics encounter when trying to obtain home loans. Pew is also a good example of where you can find these studies. This particular platform collects data surrounding a variety of topics, including the studies of people of color. There are also other Web sites that examine circumstances around data, as well as cite factors as to why these results happen. You will also have to look at studies that deal with things such as income and population. Out of all the things in this article, the statistics may be the most effective in determining what message you are going to send. In the case of the loan challenges, you might craft a message that gives tips on how to prepare for the loan application itself, whether it’s gathering documents or fixing credit. If it is something that has to do with income, your message can consist of programs that help with any type of income such as downpayment assistance, as well as tips on saving for a downpayment. It’s best to introduce your message with these numbers you discovered, in the event someone is unaware of the data and would get the wrong idea about your efforts. Go to the culture To really know the minorities you are marketing to, you will have to go where they are. Anybody can create marketing with people of color for their stock photos, but it would be more genuine if you showed to locations that they frequent. Places such as churches and community centers could be perfect to hold presentations or

Brandon Simmons is the Digital Manager for Open Mortgage LLC, where he manages the company’s social media and advises Loan Officers on social networking activities. The Houston, Texas native attended Texas State University, where he earned a Bachelor’s Degree in Electronic Media (May 2009) and a Master’s Degree in New Media (May 2014). Outside of preaching the Digital Marketing gospel, Brandon listens to Nas and Jay-Z, as well as writes content for his own personal blog, BrandonSimmons.biz. You can reach out to him at BrandonSimmons@OpenMortgage.com.

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Understanding and respecting cultures For most minorities, they belong to different cultures in which they have a strong affinity for. It’s very important to be careful how you approach these cultures when making them apart of your marketing strategy. For example, you might consider using marketing material in the language of a certain multicultural group. That is fine to do, just make sure that you respect the grammatical rules of

the language. Spanish doesn’t necessarily get put together in the same sentence structure that sentences in English are constructed, so you would have to be careful of what you want to communicate and how it would look once translated. Another part of respecting cultures of minorities comes down to knowing what is not acceptable. There are things that different ethnic groups might feel are offensive towards them, and you must respect those beliefs if you are seeking them out for their business. Loan Officers love to market that they are trusting, especially in a process as strenuous as buying a home; it’s hard to sell that if your marketing efforts includes anything that might be deemed offensive to your target audience. Each ethnic group has their own unique issue with what may bother them culturally, as a whole. An example of this type of mistake would be the recent blackface debacle with Gucci. The fashion line released a sweater that resembled black face, a practice of non-black performers who put on black makeup to mock AfricanAmericans, which started in the early 1900’s. In fact, any exaggerated depiction of a minority can be considered offensive and should be steered clear of at all times. Another part of understanding culture is knowing the history. This is an overall concept that can prevent problems that might be brought about from the previous two paragraphs. The history of a lot of minority cultures can be truly fascinating whether it’s knowing about the good or the bad. Regardless, it will bring you closer in connecting with them, which can boost the effectiveness of the message you want to present.

homebuyer education classes for citizens of that community. You can also leave your marketing materials on the bulletin boards of these places as well as attend or participate in any events that are held within that community. For some Loan Officers, they might have a branch in areas where minorities are the majority; there could also be some Originators who do not have their office in a location of that manner. For the latter, it would require a great deal of effort on the Loan Officer in reaching out. It’s really another way of building trust, something that all Loan Originators can benefit from. Catering to minorities is not a bad thing and does not have to be an anomaly, but it should be your normalcy. In recent years, people of color have made plenty of strides in terms of employment, income and financial status; factors that may very well put them in a position of wanting to be homebuyers. As more minorities become a part of the American dream of homeownership, it’s likely the traditional message will change as it is geared toward them. The focus might be how owning a home will build wealth, especially if there is a family history of financial ineptitude. Also, in this particular case, if there are those on the verge of bettering their financial situations, but not quite there, educational resources will be when informing them about programs that can assist with costs that associated with the homebuying process. However, your approach will be everything in your marketing efforts. Just because they might be slightly different from you, or does not fit the profile of your regular clientele, does not mean you have to be extravagant or over-the-top towards them. At the end of the day, no matter the skin color, we all just want to hear: “Welcome to your new home!”

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Authenticity The first step to marketing to people of color, is to be have some authenticity in your approach. If you try too hard to be something that you’re not, it can come off in a very wrong manner. Authenticity shows that you are a business that can be trusted because you are not going out of your way to pander to a certain group of people. Just because you deal with someone who might be different from you does not mean you have to become too different than who you are. The key will be staying true to your brand, but also finding a balance in which your brand appeals to that person. Being authentic will also keep you from going overboard in your efforts. It’s great that you’re excited about putting some diversity in your marketing but you make sure you are not taking it too far, which can lead you into troubled waters, which may or may not include stereotyping.

By Brandon Simmons

a special focus on DIVERSITY IN MORTGAGE LENDING a special focus on DIVERSITY IN M

Creating Excitement for Inclusion and Diversity in Lending By Shawn Devlin ello! My name is Shawn Doerr Devlin and I’m hearing impaired. I have a 70 percent loss of hearing in both ears. My inner ear nerve (what makes you hear), is the same size of the nerve of a three-year-old child. Due to what I think is a combination of a growth spurt and the chicken pox at the same time frame, at about the age of three, I lost my hearing. I had to go through speech pathology, and a “special school” prior to going to kindergarten. It is all a part of who I am today, and it has helped me with pronunciation and speech as a whole. At this time in the 1980’s, hearing aids were a box that went inside a shirt pocket and had a head phone set connected to it. Imagine an “ear buds” version in 1982. Right about this time in ‘82, hearing aids became versions of what they are today, in the ear and over the ear devices. I’ve always worn over the ear aids due to the severity of my hearing loss. I can hear planes, trains and automobiles, lawn mowers, weed whackers and loud music or motorcycles. With this loss, I’ve had to “concentrate” harder than most with the intent to understand, not just the intent to respond, which makes sales a good fit for me. Often times, I would repeat or rephrase the questions asked to me to make sure I am understanding, and then to respond at a young age. Fast-forward 30 years, and I’m a sales professional who helps build branding, teams, train salespeople, teach marketing strategies, and generally adds value to many in my field … the mortgage industry. I’m known as “The Mortgage JUICEman,” and I bring the “JUICE” daily with tons of energy to serve my clients (TheMortgageJUICEman.com). At a young age, I learned to read people through their body language, verbal and non-

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verbal communication. I learned that I needed to spend more energy daily than the average person to listen, to seek to understand before I am understood. Then, I learned to adapt to my environments well and the subtle art of persuading to get what I wanted. The way I had to communicate needed to be direct, to the point and with intent as a result. Early in life, I was defining my personality style and understanding how I can influence others with mine … all because I was hearing-impaired. I learned with a high energy level that I maintained, as I needed to make sure I learned hands-on or kinesthetically. Visual learning would be second best, and obviously auditory was the worst way in which I learn. So, in other words, I had to do a lot of “doing” in order to learn. Why is all this a perfect example of diversity in the workplace? Well it’s not so much just “Women” in the workplace, as it is of diversifying the workplace … promoting from within and teaching inclusion in every sense of the word. I’m not just talking about inclusion of the handicapped or the inclusion of women. I’m talking about the inclusion of all. Inclusion of a receptionist that gets promoted within, then the janitor that moves up. Companies want to know how to promote the engagement of minorities in the workplace? Whatever race, religion, sex or national origin it may consist of … the answer is simple … Inclusion! Build a workplace culture, build a “Best Place to Work” mentality to help promote from within and empower others to continue to grow. The more you do that, the more all types of people will sign up to work with you. It all starts internally. Just like it does for the individual. You have to put energy and focus into it. Hopefully, I give good examples of how my efforts translate into who I am today and why. I have spent lots of energy (JUICE) to learn my craft and teach it to others now. Inclusion within growth of a company, to promote within your internal employees, is how you’ll

be rewarded with a more diverse and loyal workplace. Teach people to grow from a loan set-up role to an underwriter role … from desk job to field work, from recruiting to sales, etc. … you get my point. Create a career path and marketing path that forms inclusion. Along the way, help make various trainings that you can tailor to the individuals’ learning style. Create marketing campaigns that gets your brand involved. Make things handson, visual and auditory to be delivered is my advice, then, market your messages to the masses. The inclusion of diversity in the workforce and marketing towards minorities or the empowerment of women in the mortgage industry are all related to one thing—Effort. You see, in the mortgage industry, you cannot, by law, “omit” or segment the very things at topic of conversation. You cannot advertise on mediums pretty much anything related to race, color, religion, national origin, sex, disability or familial status. That means in order to market, promote, recruit and hire, sell to or to service, the focus for many companies asking this question should evaluate inclusion. My suggestions include marketing in groups or geographic areas ways to give back to the community, or social events to help support the local economy. By holding a fundraiser for a cause or participating in a Habitat for Humanity project, or hosting a first-time homebuyer seminar or VA presentation, you can personally segment with added value to an underserved area.

You have to get in there and start taking action in order to build branding—Your culture, your business beliefs, your value add for what you do to those there. Just take action personally. That’s how inclusion works. You interact with those who aren’t there. With some event or added value to the marketplace, this could be the start for many. By doing this, you can segment many messages for including all those there. That’s how to grow your company’s diversity and whom is marketed too without “omitting” anyone. Do “it” (whatever “it” may be) in pockets of specific intent campaigning to include others. I do think there’s a shift in the marketplace with various things. From women becoming a growing segment of the population to buy homes as a single applicant on a loan. To women growing their roles in the workplace roles. Let’s face it men … women are actiontakers and they focus their energy to complete tasks well. As more and more types of people are train-able and teach-able to adapt to an environment and embrace a company culture, the more diversity we shall see as a whole. To expand upon it … if that’s what your company is looking to do, you need to have systems and processes in place to help duplication take place. From training and inclusion of all, to marketing and segmenting in all areas, to creating a market presence with your brand ... to be seen, touched and heard in any given area. This applies internally within a company and externally with what you offer. The predominant action-takers or people that have a need or want for what you sell will react. It’s called inclusion marketing, and all you need to do is take action.

Shawn Devlin is a National Sales Manager at BluePointMtg d/b/a Royal Pacific Funding (NMLS#: 320004). Shawn is growing wholesale partnerships with all types of talent, looking for recruits from industry professionals who want to learn to grow residual income in the mortgage industry as Account Executives. He may be reached by phone at (304) 901-2798 or e-mail Marketing@BluePointmtg.com.

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citadelservicing.com For mortgage professionals only. This information is intended for the exclusive use of licensed real estate and mortgage lending professionals in accordance with local laws and regulations. Distribution to the general public is prohibited. Rates and programs are subject to change without notice. Citadel Servicing Corporation is an Equal Opportunity Employer and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, veteran status, or other classiﬁcation protected by law.

n National Mortgage Professional Magazine n MARCH 2019

entities and • Business trusts included to $3 million • Up loan amounts

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• 5 to 35-unit properties • Mixed-use • Up to 75% LTV

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T he

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T H E

B E C K W I T H

B L O G

Competitors Unite: The New World of Intermingled Mortgage Pros By Christine Beckwith

e may wear different sports team colors, we may wave those flags with loyalty and pride, but make no mistake … we are all playing on the same field and by the same set of rules now.

Here comes the lesson! I noticed Kevin had done something incredible. He had made a video that you could tell had resonated with many people and struck a chord on the topic of “Work-Life Balance.” Challenged by Michael Kelleher, LoanFuel mobile app guru, who around Valentine’s Day, laid down the gauntlet to “Speak on the two things people loved,” Kevin cited his family and the difficulties of work-life balance, doing so in a true and authentic manner. He struck video gold with his post. Now, here is where the real game has changed in this example. I received 80 notifications (so far) on people chiming in behind my comment. LinkedIn will notify with

the words “(So and So) commented on a post you commented on.” My interpretation … someone else likes the same thing you do. Now, did it make me read the comments of others. Yes, it did! My human curiosity was to see what others thought. Many of the comments were very much like my own, many humorous and many truly inspired by Kevin’s post. I recognized other people I am connected to as well, both in my digital world and in my real life. I realized that the people commenting were from all over the country. This is called “Influence!” See the lesson here? All of us were now sharing this moment Kevin created and we all did the proverbial head shake and agreed … “Yup, work-life balance is tough.” Kevin added light-hearted humor by stating he was, “Justifying working late by making this video for his wife” which was the hook. See how his one video became a meeting place on the Internet for so many people, all connected to Kevin and now each other by his LinkedIn profile and post? A

Let’s break down the many ways this can benefit Kevin … l He sees who is watching. So, in this sense, he himself understands the vast network capabilities. l He sees what people want in content posting. l He now has new people to begin deeper relationships with if he chooses. l He is attracting like-minded businesspeople, thus creating a new network of followers. Okay, lesson over … hope you learned something! United we stand … Let’s go beyond the lines of our social media networks now and talk about the strength that is happening behind the scenes of our convention and conference lines. I have had the pleasure now to be going into my third year of both speaking and engaging on the major mortgage industry conference circuit. I see different people everywhere, but I also see a lot of the same wonderful faces—the big sales reps, the executives and senior level managers. I see the uniting of major firms for committees, for podcasts, for educational sharing, for free trade of resources and networks. The list of benefits emerging from the walls of competition continued on page 91

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Here come the Internet Newbies and I say, “Come one, come all!” This month, I saw some video newbies on the airwaves announcing their “first attempt” at video-making! It dawned on me while watching these raw clips that these folks were taking

their first attempt at entering the digital race, I was surely impressed and that things are about to get interesting. One standout for me was Kevin Peranio, Chief Lending Officer at PRMG, who I saw several videos for and one, admittedly new at them, that I commented on early on and watched my notifications blow up!

moment of like-minded sharing, without barriers, with no competitors … this is called “Community!”

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People are changing! I look around this small world we live in, and here in the mortgage and real estate banking finance space, I see a lot of key people making a very significant impact on a rising level of informationseeking entrepreneurs. One thing stands true when markets like this one emerge, the tortoise stands to win the race, the slow and steady pacemakers who are not deterred … they just stay the course, head down, step-bystep. They also find where the business is or is going by being that steady individual who shows resolve and keeps showing up. But, all of us are seeking direction and answers. Living in a digital world, we are wading into the electronic life of the 2019 entrepreneurial pool. I dedicated last month’s article to “Digital Domination,” but this one is about the people, and the people are changing.

“Everyone is more secure in their team’s ability to retain while being coached by a competing manager or coach, and I would argue that is coming from a mutual respect born out of a desire for all of us to share in the improvement of the world we now live in.”

Does Your Assistant Do This? By Brian Sacks

am often asked if I have an assistant and the answer is “Yes.” But before we even get into a discussion of what they do, it’s important for you to understand the logic of why you need one. Yeah, I know that little voice in your head telling you, “Of course Brian Sacks has an assistant because he is a big producer.” Go ahead and admit it … that’s your first step in fixing your issue.

Let’s look at the issue from a different perspective Now I want you to answer these questions honestly and don’t try to fool yourself …

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l Is your production where you want it to be? l Could you be doing a better job with follow up? l Are you really making relationships with all parties in the transaction? l Is a good percentage of your business based on referrals and are you doing everything you can to generate those referrals? The next question is the most important one! Do you know what your hour is worth and are you doing the tasks consistent with that value? Let’s say you want to earn $100,000 a year and you want to work only 40 hours and take two weeks off like normal people do … 40 Hours X 50 Weeks = 2,000 Hours/$100,000. Your hour is worth $50. Good … hope you are still with me here. Now the bigger question Is what you are doing daily for $50 an hour work or more clericallyrelated? Or even worse, you may not be doing the follow up and other tasks at all and losing opportunities. Sorry, but here is some additional math! Since I know you may “think” you cannot afford an assistant, let’s play it out … You have an assistant and you pay her $20 an hour for 40 hours a week which is $800 a week, which approximately $3,500 a month. But because you are now freed up to market more, you generate two additional $250,000 loans that you earn 100bps on. Do the math! You are now $1,500 positive, and of course, your business is running smoother and you are happier.

l For buyers who have issues, she follows up with them and their agents to see how they are progressing. l When a loan application is taken, she enters both agents into my CRM and sends a nice introductory e-mail and letter to the agents. l When a loan closes she: (a) Sends both agents another letter; (b) enters the file in the CRM as a closed loan; (c) sends out a survey to the buyers requesting a Zillow and social media review; and (d) follows up with the buyers two weeks later and sends additional information and tools and requests referrals. l Creates and sends out monthly newsletters. l Creates and sends out quarterly letters to referral partners and closed loans asking for referrals. There are actually other tasks she performs as well. Stop and ask yourself! Do you believe that all of these activities could help you generate one or two additional loans each and every month? By now I hope you understand why I have said you truly can’t afford not to have an assistant regardless of your current production levels. This position will truly help you break that real or imaginary glass ceiling that is preventing you form taking your business to the next level. One more important point … The key to a good relationship with your assistant is communication, so I want to give you a quick recipe for making it work … l l l l

Tell them what to do. Tell them how to do it. Tell them why to do it that way. Verify that It’s being done!

Let’s talk about the specific tasks my assistant performs I think it will probably be easier for me to just list them out for you right here, but I do cover most of them in my LOUnfairEdge.com course as well: l She sends letters to everyone I prequalify right after our first meeting. l She files them and puts them into our CRM. l She calls each of them monthly to check on their status and notifies the agents.

Brian Sacks is an Originator with more than 34 years of experience and $1.5 billion-plus in career closings. He is also the creator of the LO Unfair Edge System and author of the 48 Proven Ways to Immediately Grow Your Production available at https://48WaysBook.com/Special.

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FirstClose has announced that its reporting suite is now available through Ellie Mae’s Encompass digital mortgage solution. The seamless integration will allow lenders to order FirstClose’s solutions directly through Encompass to drive quality and efficiency in the loan origination process. Services can be ordered

Correction … Due to a production error in our February 2019 print edition on page 54, the incorrect photo of Christopher Griffith, subject of our BrokerNation column by Andy W. Harris, appeared. Please see the correct photo above for Christopher Griffith of Debt Does Deals (DebtDoesDeals.com), Company NMLS#: 1743790/Personal NMLS#: 1058493.

LINNANE ANASTOS

l Stearns Lending LLC has promoted Jim Linnane as National Retail President. Linanne had served as the Division President for Stearns Home Loans over the central and eastern regions since February 2018.

PUCKETT

l Guaranteed Rate has appointed Paul Anastos as Chief Innovation Officer to accelerate the company’s product and service offerings for borrowers, originators and referral partners.

l Abingdon, Va.-based First Bank & Trust Company has hired Andy Puckett as Vice President in its Mortgage Department.

BRUNER

FirstClose Integrates With Ellie Mae’s Encompass

which does business in New Jersey as MNET Mortgage Corp., has announced that Chris Veritas has joined the company as a Loan Officer in its Florham Park, N.J. branch.

l TRK Connection (TRK) has hired Chris Bruner, CMB, AMP as Senior Vice President of National Sales.

l First American Financial Corp. has promoted Odeta Kushi to Deputy Chief Economist. SPRAGUE

American Pacific Mortgage. “All our branches, the whole company is excited that we have this tool; they appreciate it. And that’s been our biggest win overall.” Tricia Sobon, Controller at American Pacific Mortgage, said, “Our previous G/L solution lacked transparency and had insufficient reporting capabilities. This made it difficult to stand behind the financials when presenting the information to executives. Having to complete all of our tasks manually, and the risk involved, was concerning, as well.” When conducting their search, APM looked at several different enterprise-level options that were not tailored for mortgage banks, as well as industry-specific solutions. “American Pacific Mortgage’s ability to share substantial financial information with its branches is what we look to provide to lenders as they continue to share with us how important it is to uncover the cost to originate a loan,” said Martin Kerr, President of Loan Vision. “It is our goal to continue to add features across the solution that assist finance departments discover valuable information to support the business.”

KUSHI

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“Mortgage industry participants are looking for a streamlined, scalable, and centralized way to effectively evaluate and manage their real directly from Encompass at the estate assets,” said touch of a button, eliminating Consolidated Analytics CEO duplicate key strokes when Arvin Wijay. “The acquisition of placing orders. When orders are CPS boosts our infrastructure, returned, data points are sent resources, technology, and back to Encompass, which support functions, which will automatically populates critical improve productivity and fields such as the full legal accelerate returns at every description and vesting information from the title work, the aspect of the asset management appraised value from the valuation lifecycle.” product selected, and more. Guaranteed Rate Continues Copies of the completed reports Midwest Expansion are automatically imaged into Encompass. The integration reduces human error, as well as costs and closing times. “Seamless integration between the LOS and valuation and settlement services helps lenders Guaranteed Rate has announced the opening of a new office in close loans more quickly and Plymouth, Mich. efficiently,” said FirstClose Chief “The grand opening of our Executive Officer Tedd Smith. branch in Plymouth is a “Our secure integration with Encompass enables our clients to reflection of Guaranteed Rate’s growth throughout the state of simplify the process of ordering Michigan,” said Guaranteed our solutions, so they can more Rate’s Plymouth Branch easily process mortgage loans and grow their business. We look Manager Rick Richter. “We continue to see increased forward to a long, successful opportunity and have recently relationship with Ellie Mae.” hired three talented loan officers from local companies.” Consolidated Analytics Guaranteed Rate introduced Acquires Carrington Property the market’s first digital Services Consolidated mortgage, creating an easy-toAnalytics, an understand, transparent loan Irvine, Calif.- process, which has led to an industry-leading customer based satisfaction rating and provider of exponential growth. property valuation, loan due Headquartered in Chicago, diligence, mortgage fulfillment and Guaranteed Rate has more than advisory services for the real 5,000 employees in more than estate finance industry, has 300 offices across the U.S. and acquired Carrington Property Washington, D.C., and is Services (CPS), a Santa Ana, licensed in all 50 states. Calif.-based provider of thirdparty REO asset management, rental management and valuation Mortgage Professionals to Watch services. The financial terms of the acquisition were not disclosed. CPS will be rebranded as Consolidated Asset Management.

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VERITAS

heard on the street

l Mortgage Network Inc.,

l STRATMOR Group, a mortgage advisory firm, has announced that Seth Sprague, CMB, has joined the company as a principal.

SIMON

An executive with more than 20 years of mortgage experience, Sprague brings to STRATMOR significant subject matter expertise in mortgage servicing rights (MSRs), servicing, cash flows, liquidity and mortgage profitability strategies.

l Lenders One Cooperative, a national alliance of independent Mortgage Bankers, has named Brian A. Simon as its new President. l LoanFuel has named Ralph Armenta as Executive Vice President and Chief Revenue Officer. l East West Mortgage, headquartered in Dorchester, Mass., has named Jim Horgan as its new President. l Pavaso has named Tim M. Anderson Senior Vice

President of Business Development. In this role, he is responsible for developing products, strategies and relationships that drive adoption of Pavasoâ&#x20AC;&#x2122;s suite of digital products and services. l Silver Hill Funding has announced the addition of Joe Altomonte as Assistant Vice President of Business Development. Your turn National Mortgage Professional Magazine invites its readers to submit any information, events, passages, promotions, personal or professional occurrences that seem appropriate and/or other pertinent data to the attention of: Heard on the Street/Mortgage Professionals to Watch column Phone #: (516) 409-5555 E-mail:

SAVE THE DATE!

NCRA 27th Annual Conference Tuesday-Thursday, November 5-7 The DeSoto Hotel 15 East Liberty â&#x20AC;˘ Savannah, Ga.

Newsroom@MortgageNewsNetwork.com

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

Subject to change

Monday. November 4 NCRA Board of Directors Meeting (all day)

Tuesday, November 5

Wednesday, November 6 8:00 a.m. Breakfast 9:00 a.m.-5:00 p.m. Conference Open 6:00 p.m.-9:30 p.m. Feature Event

Thursday, November 7 8:00 a.m. Committee Sign-Up & Breakfast 9:00 a.m.-4:00 p.m. General Sessions For more information and details, visit NCRAInc.org, call (630) 539-1525, or e-mail NCRA Executive Director Terry Clemans at TClemans@NCRAInc.org or NCRA Office & Members Services Manager Jan Gerber at JGerber@NCRAInc.org.

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8:00 a.m.-4:00 p.m. User and Sales Meetings 6:00 p.m.-7:30 p.m. Welcome Reception and Marketplace

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Preliminary Schedule of Events

new to market

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Owners.com’s preferred providers for financing and closing services. According to the company, borrowers can achieve savings if they choose an Owners.com Buy and Sell package and/or use one of Altisource’s preferred providers for financing, closing and escrow services. The bundle applies to government and conventional loans, as well as agency specialty products for first-time homebuyers and renovation loans. The bundle program will be initially available to Owners.com borrowers in California, Florida, Georgia, Illinois, Massachusetts, Ohio, Pennsylvania and Texas. “In this competitive real estate market, streamlining the process can make all the difference in getting to the closing table faster and at the same time saving money,” said Dario Cardile, Vice President, Growth at Owners.com. “By combining Owners.com’s superior technology, expert local agents and now its affiliates’ and preferred providers’ financing and closing services, Owners.com is creating unique digital experiences that help make home buying and selling smoother, so consumers can get into their dream home even quicker.”

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Velocity Debuts Its WIRE Initiative

Velocity Mortgage Capital has unveiled its Women in Real Estate (WIRE) initiative to encourage more women to become involved in real estate investment. The Westlake, Calif.-based company introduced the program at the recent NAMB National Conference in Las Vegas. According to the WIRE website, the initiative is designed to “qualify self-employed real estate investors and small business owners who

don’t fit the criteria for a traditional bank loan.” Velocity added that the WIRE program has special incentives including a free appraisal, discounts on underwriting fees and a credit on closing costs for firsttime Velocity borrowers that can reduce closing costs by as much as $5,000. “There’s a problem in the financial services industry, and we want to fix it,” said Chris Farrar CEO of Velocity Mortgage Capital. “At Velocity, we believe every borrower deserves the opportunity to invest in real estate–especially women, who often have higher credit scores and lower default rates.” Dimont Enhances Its Loss Draft Customer Support Service

Dimont has created its Enhanced Loss Draft Customer Support service, which is designed to help lenders coordinate a faster and more effective resolution of loss drafts by outsourcing insurance claims-related communications with customers through email and direct calls. According to the Dallas-based company, the new service is designed to augment its Loss Drafts service, which allows borrowers, mortgage servicers and Dimont staff to upload insurance claims-related documents and share status information electronically via a web portal. The new service will enable users to view the loss draft status in real time, along with a complete audit trail of uploaded documents and event tracking. Servicers will also be able to allow Dimont to handle direct communications with their borrowers on claims-related issues, the company added.

Correction … In the February 2019 print edition of National Mortgage Professional Magazine on page 38 in the “2019 Non-QM Lender Showcase,” the number of states that Angel Oak Mortgage Solutions is licensed in was incorrectly reported. Angel Oak is currently licensed nationally, except in the states of Alaska, Hawaii, Idaho, Massachusetts, New York and Vermont. For more information, visit AngelOakMS.com.

“Our Enhanced Loss Draft Customer Support Initiative helps lenders focus on their core tasks while we handle all the communication with borrowers done through email and a call center,” said Denis Brosnan, President and Chief Executive Officer of Dimont. “This service is particularly beneficial to lenders who sometimes find themselves overwhelmed by the task of communicating in the wake of a major crisis that impacts many borrowers such as a flood or other natural disaster. In those circumstances, borrowers need help with their insurance claims quickly. Even in the early stages of our implementation, we have seen dramatic reduction in call abandonment rates and an overall uptick in customer satisfaction.” Fiserv Launches New Mortgage Momentum Technology Fiserv has announced a new approach to mortgage technology designed to allow lenders to manage the complex mortgage ecosystem from end-toend. Mortgage Momentum is a digital-focused approach that covers each stage of the mortgage lifecycle from application through closing. Combined with workflow automation tools, Mortgage Momentum from Fiserv streamlines and simplifies loan origination, and enables lenders to leverage a range of prepackaged solutions to enhance the lending experience. As these capabilities evolve, they will support greater customization and simplification of the mortgage loan process through existing digital channels. The updated Mortgage Director loan origination system (LOS) and the new Originate Mortgages point-of-sale (POS) mobile enhanced application are among the digital solutions from Fiserv that enable the Mortgage Momentum approach. “In an industry increasingly focused on speed and experiences, mortgage lenders are challenged to deliver a more efficient lending process and a compelling, differentiated borrower experience,” said Lionel Urban, Vice President, Product Management, Fiserv. “Automation of lending processes improves efficiencies for lenders and speeds time to approval and close, so customers can quickly receive the keys to their new home, refinance, or obtain a home equity loan or line of credit.”

Moody’s Analytics Debuts Network for Commercial Real Estate Data Moody’s Analytics has launched the Real Estate Information Services (REIS) Network, which provides data on property research, investment, and risk management for the commercial real estate industry. According to the company, the REIS Network enables users to search linked databases for information on tenants, landlords, and related transactions. Within the network’s connected applications, users can transfer data from one product to another while being able to simultaneous view and compare multiple sources. REIS Network also includes an analytical tool for decisioning and monitoring commercial mortgage with integrated default and recovery models to assess probability of default, loss given default and expected loss, plus a tool that determines the desirability of commercial properties based on multiple economic and demographic factors and a cloud-based valuation and discounted cash flow modeling platform, provided by Rockport VAL, a Moody’s Analytics partner. “Our goal is to become a leading source for data and analytics for commercial real estate transactions,” said Keith Berry, Executive Director of the Moody’s Analytics Accelerator. “We want to help CRE professionals make better and faster decisions. The REIS Network enables disparate tools and data sources to work together to streamline workflows for all CRE industry participants.” Your turn National Mortgage Professional Magazine invites you to submit any information promoting new “niche” loan programs, new products or any other announcement related to the introduction of a new program, to the attention of: New to Market column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

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

the beckwith blog

continued from page 85

being torn down is long. When I say this, I don’t mean that we aren’t all competing for market share. What I am saying is the walls are surmountable, and for the betterment of our industry.

Christine Beckwith is a 30-year mortgage industry veteran who has broken many glass ceilings and has blazed a trail for many female professionals to come. Christine is currently President and COO of 20/20 Vision for Success Coaching and Consulting, a decorated, sought after and award-winning leader. 91

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The gift that keeps on giving! I have since had to see this executive leader many times. I have long since stopped caring about his desperate mindset and reaction to an insecure and

We are in “this” together! I share this because I can tell you without question over the past decade that not only would this not happen in 2019, after all of us having emerged from this past decade fundamentally far more politically correct than ever, more aware of regulations and far more sophisticated. What has come out of the silver lining of our past decades’ overreactive regulatory environment is the fact that we are all in this battle together. Every single firm, on both sides of mortgage finance and real estate, are in this together. We may wear different sports team colors, we may wave those flags with loyalty and pride, but make no mistake, we are all playing on the same field and by the same set of rules now. We now know we have massive strength by uniting our captains and positional coaches in a huddle at these conventions, over steak dinners and the like for one mutual cause and that cause is surviving and thriving in our new world. For several years, I have found myself mingling with executives and sales leaders of other institutions. While team “Plays” may be kept hush-hush, there is a sharing of ideas that is happening for the betterment of our sport. I see industry coaches who double in the mortgage industry, who are still originating or managing sales

Connecting the dots is not just for kids! In closing, I dedicate this entire article to those who are really making huge moves in this area—those of you connecting, influencing and cashing in on that as well. I found my student software because of an introduction made that had nothing to do with software at

the time. If you know how to connect dots, like in third grade coloring books, you could probably quite literally draw anything your heart desires in today’s mortgage world. If you like drawing lines that make images appear right before your disbelieving eyes, then grab a pencil and start connecting dots and create a picture. Life imitates art imitates life they say. I say, “Draw the line!” I have begun doing this every day, I make more introductions to people than I ever have in my entire life. I thank so many people who drew the lines to me from other beautiful people in this world. So, get out there and start drawing some lines. Don’t be afraid. Start connecting, and let’s see what beautiful things we can make for the generations behind us!

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… And divided we fall For a very long time, there was this old school mentality about competition. In fact, I was asked to leave a real estate convention once in Annapolis— brand name to be left anonymous (you know who you are—because the real estate firm had a Broker at the convention whose lender didn’t want us there. I had flown to this convention, was manning a table with two of my regional sales managers, and directly across from us was another large lender, who also will remain nameless (a large one … hint hint), and apparently the reps at that booth didn’t take kindly to our presence as they held an MSA with the nameless real estate brand. The executive level real estate manager asked me to step outside where he informed me that the nameless bank was going to pull their $20,000 MSA if we didn’t leave. At the time I was informed of this, we were only 30 minutes into the day, but all of us having flown the previous evening to attend. Our table was set up, all of our materials were displayed and I was supposed to be addressing the regional audience. I stood in shock at the mere fact I was being asked to leave. After the three-seconds worth of shock wore off, I looked back and said to the man who asked me to pack up, “We will leave when you get every single person behind closed doors into that hall, but with all due respect, after we get home, we will then process a full refund, plus travel and all expenses, and then contemplate and investigate how this violates any regulations, which it surely does under the National Association of Realtors rule of offering three lenders publicly … we will be in touch.”

provoked threat in what was clearly a relationship with an ill future. However, it does feel good to write about it here, now. I share this story because my colleagues and I exited stage left, sunglasses on, but heads held high, directly to the hotel bar where we sat, and for the next few hours, discussed our dismay and audacity of the situation. End of story is that we did get a full refund with an apology because I am certain as time has worn on, this very article I am writing right now was a nagging thought along with my parting words in the mind of that real estate executive. I have since run into that person repeatedly at conventions, as if a haunted reminder of his fear-filled moment. Revenge? No. Justice? Maybe. It’s a new day and I say thank goodness for all of us.

teams, and yet they are welcomed to other mortgage companies. The fear of pillaging from our intertwined pool when coming together for a mutual cause is gone. Everyone is more secure in their team’s ability to retain while being coached by a competing manager or coach, and I would argue that is coming from a mutual respect born out of a desire for all of us to share in the improvement of the world we now live in.

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calendar of events APRIL 2019 Monday-Tuesday, April 1-2 MBA’s State & Local Workshop 2019 Capital Hilton 1001 16th Street, NW Washington, D.C. For more information, visit MBA.org. Tuesday-Wednesday, April 2-3 MBA’s National Advocacy Conference 2019 Capital Hilton 1001 16th Street, NW Washington, D.C. For more information, visit MBA.org. Wednesday, April 3 2019 IMA Spring Conference Quad City Waterfront Convention Center 2021 State Street Bettendorf, Iowa For more information, visit IowaMA.org.

Thursday-Friday, April 11-12 FAMP Gulf Coast and Suncoast Chapters Trade Show 2019 Crowne Plaza Tampa Westshore 5303 W. Kennedy Boulevard • Tampa, Fla. For more information, visit GulfCoastFAMP.com.

Wednesday-Saturday, April 24-April 27 NAMMBA Connect 2019 The Westin Buckhead Atlanta 3391 Peachtree Road NE • Atlanta For more information, visit NAMBA.org. Sunday-Tuesday, April 28-30 TMBA 103rd Annual Convention Marriott Rivercenter 101 Bowie Street • San Antonio, Texas For more information, visit TexasMBA.org.

Saturday-Wednesday, May 4-8 NAMB 2019 Legislative & Conference Liaison Capitol Hill Hotel 415 New Jersey Avenue NW Washington, D.C. For more information, visit NAMB.org. Sunday-Wednesday, May 5-8 MBA’s Legal Issues and Regulatory Compliance Conference 2019 Hyatt Regency New Orleans 601 Loyola Avenue New Orleans For more information, visit MBA.org. Monday-Wednesday, May 13-15 2019 Mid-Atlantic Regional Conference MGM National Harbor 101 MGM National Avenue Oxon Hill, Md. For more information, visit MARCMBA.org. Monday-Wednesday, May 13-15 2019 OMBA Annual Convention “Journey To the Top” Columbus Marriott NW 5605 Blazer Parkway Dublin, Ohio For more information, visit OhioMBA.org. Tuesday-Friday, May 14-17 MBA’s Commercial/Multifamily Servicing & Technology Conference 2019 JW Marriott Los Angeles L.A. LIVE 900 West Olympic Boulevard Los Angeles For more information, visit MBA.org.

SEPTEMBER 2019 Saturday-Monday, September 14-16 NAMB National 2019 Conference & Trade Show Caesar’s Palace 3570 South Las Vegas Boulevard Las Vegas For more information, visit NAMB.org.

Sunday-Wednesday, May 19-22 MBA’s National Secondary Market Conference & Expo 2019 New York Marriott Marquis 1535 Broadway New York, N.Y. For more information, visit MBA.org.

Friday, September 20 2019 UAMP Mortgage Expo Marriott at City Creek 75 South West Temple Salt Lake City, Utah For more information, visit UAMP.net.

Monday-Tuesday, May 20-21 NRMLA 2019 Eastern Regional Meeting InterContinental New York Times Square 300 West 44th Street New York, N.Y. For more information, visit NRMLAOnline.org/event/2019-easternregional-meeting. JUNE 2019 Sunday-Wednesday, June 2-5 MBA’s Chairman’s Conference 2019 Silverado Resort 1600 Atlas Peak Road Napa, Calif. For more information, visit MBA.org. JULY 2019 Sunday-Tuesday, July 14-16 Summer CAMP 2019 San Jose Marriott 301 South Market Street San Jose For more information, visit TheCAMPSite.org. Wednesday-Saturday, July 31-August 3 FAMP 60th Annual Convention & Trade Show Walt Disney World Swan and Dolphin 1500 Epcot Resorts Boulevard Lake Buena Vista, Fla. For more information, visit OurFAMP.org.

OCTOBER 2019 Thursday, October 24 AZAMP Annual Expo 2019 JW Marriott Phoenix Desert Ridge Resort & Spa 5350 East Marriott Drive • Phoenix, Ariz. For more information, visit AzAMP.org. Sunday-Wednesday, October 27-30 MBA’s 2019 Annual Convention & Expo Austin Convention Center 500 East Cesar Chavez Street Austin, Texas For more information, visit MBA.org. NOVEMBER 2019 Tuesday-Thursday, November 5-7 NCRA 27th Annual Conference The DeSoto Hotel 15 East Liberty • Savannah, Ga. For more information, visit NCRAInc.org. Thursday, November 14 FAMP’s 2019 Miami Mortgage Convention Trade Show DoubleTree by Hilton Hotel Miami Airport & Convention Center 711 NW 72nd Avenue • Miami For more information, visit MiamiFAMP.org. Monday-Wednesday, November 18-20 2019 NRMLA Annual Meeting & Expo Nashville Omni 250 5th Avenue South Nashville, Tenn. For more information, visit NRMLAOnline.org/event/2019-annualmeeting-expo.

To submit your entry for inclusion in the National Mortgage Professional Calendar of Events, please e-mail the details of your event, along with contact information, to newsroom@mortgagenewsnetwork.com. *Looking for additional exposure at key industry events? Call 516.409.5555, ext. 4 to discover how to maximize your event coverage.

n National Mortgage Professional Magazine n MARCH 2019

Tuesday-Thursday, April 16-18 2019 Great River MBA Conference The Peabody Hotel 149 Union Avenue • Memphis, Tenn. For more information, visit GreatRiverMBA.com.

MAY 2019 Wednesday-Friday, May 1-3 2019 Wyoming Mortgage Lenders Conference Location to be determined Sheridan, Wyoming For more information, visit wymla.com.

Wednesday-Saturday, May 15-18 NAPMW 2019 Annual Education Conference “Jazzin’ Up Mortgage in the Big Easy” Hotel Monteleone 214 Royal Street New Orleans For more information, visit NAPMW.org.

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Sunday-Thursday, April 7-11 2019 Regional Conference of MBAs Harrah’s Resort & Convention Center 777 Harrah’s Boulevard • Atlantic City, N.J. For more information, visit MBANJ.com.

Tuesday-Wednesday, April 30-May 1 MBAAL Spring Convention 2019 Hyatt Regency Hotel 1000 Galleria Circle Birmingham, Ala. For more information, visit MBAAL.org.

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Don’tt Gett Left in the Dust D Angel Oak Mortgage Solutions Visit www.Ang gelOakMS.com/NMP orr call 855.631.9943. Grow With the Leader in Non-QM Wholesale and Correspondent Lending. © Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 980 Hammond Drive, Suite 850, Atlanta, G GA, 30328. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, V VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public. Each application is reviewed independently for approval and not all applicants will qualiffyy for the program. Angel Oak Mortgage Solutions LLC is an Equal Opportunity Lender and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, other classifications protected under Fair Housing Act of 1968. MS264_0518