National Mortgage Professional Magazine May 2019 by ambizmedia

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table of

N A T I O N A L

National Mortgage Professional Magazine Presents ... Mortgage Marketing Roundtable Discussion 2019

M A Y

The

th i w eck

2 0 1 9

M O R T G

V O L U M

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

Six Ways to Boost Your Business Through Social Media By Sarah DeCiantis ............................................................................52

The Beckwith Blog: The Missing Piece! By Christine Beckwith

A Marketing Mindset in the Mortgage Industry By Sara Bjellos-Hood & Andrea Lefebvre............................................56

R o

Sourcing Non-QM Clients in the Modern Mortgage Marketplace By Mike Brenning................................................................................58

H P

The Case for Content Marketing By Rick Grant & Brian Rieger ......60

How Marketing and Technology Automation Can Boost Your Business By Lisa Fenske ..........................................................62

th i w k

How to Triple Your Database Referrals for Only $3 Per Day By Nick Carpenter ..............................................................................64

The Marketing Pie and How to Get Your Piece By Mary Kamelle ..66

42 Spring Homebuying Trends and Military Servicemembers By Michael Greenwood

Is Your Brand Story Worth Telling? By Brent Emler ........................68 How to Increase the Effectiveness of Four Mortgage Marketing Tools By Chris Carter ......................................................70 Lights, Cellphone, Action! By Shirleen Von Hoffmann ......................72

Content Marketing Trends for the Mortgage Industry in 2019 By Patrick Foster ................................................................................74

How Video Marketing Is Changing the Game for Mortgage Professionals By Jacquelyn Knoll ......................................................76

FEATURES

ARMCP Set to Launch New Site ........................................................6 Lender Services Are Key to Non-QM Success By Tom Hutchens ....8

44 Are Millennials Well-Suited for a Mortgage Lending Career?

V I S I T Company

Web Site

O U R

A D Page

ACC Mortgage .................................................. weapproveloans.com ....................................................27 Angel Oak Mortgage Solutions ............................ angeloakms.com ..............................................Back Cover Axos Bank ........................................................ axosbank.com/wmebroker ..............................................7 Brokers Compliance Group.................................. brokerscompliancegroup.com ..........................................55 CAMP .................................................................. thecampsite.org ..............................................................59 Carrington Mortgage Services, LLC ...................... carringtoncorrespondent.com ..................................1 & 54 Citadel Servicing Corporation .............................. citadelservicing.com ......................................................17

50 LOs Can (and Should) Attend More Closings. But How? By Rick Triola

DocMagic .......................................................... docmagic.com ................................................................9 First National Bank of America............................ fnba.com/mortgagebrokers ..............................................5 Greenbox Loans, Inc........................................... greenboxloans.com ................................Inside Front Cover Lykken On Lending ............................................ lykkenonlending.com ....................................................73 MBS Highway .................................................... mbshighway.com/MNN ..................................................71 Mortgage News Network (MNN) .......................... mortgagenewsnetwork.com ....................................40 & 41

of contents

R T G A G E

U M E

1 1

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

N U M B E R

The Elite Performer: Growing Pains=Gains By Andy W. Harris, CRMS ....................................................................8

Marketing Tips to Increase Your Business......................................10 Mail Beats Digital … Again By K. Justin Restaino ............................16 Recruiting, Training and Mentoring Corner: The Importance of Marketing By Dave Hershman ......................................................18 Housing Counselors Can Help Independent Mortgage Professionals By Pam Marron ..........................................................26 The Mortgage Godfather: No More Pens! By Ralph LoVuolo Sr. ....28 States Adopting Electronic Notarizations By Gavin T. Ales ............32 Compliance Matters: Protecting Children’s Online Privacy By Jonathan Foxx ..............................................................................33 Why Your Buyers and Agents Don’t Trust You By Brian Sacks ......34

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.

BrokerNATION: HomeLend USA LLC/Bob DeYoung By Andy W. Harris, CRMS ..................................................................48

COLUMNS New to Market ..................................................................................12 News Flash: May 2019 ......................................................................14 Heard on the Street ..........................................................................30 Outstanding Places to Work ............................................................76 NMP Calendar of Events ..................................................................77 NMP Resource Registry....................................................................78

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

Web Site

Page

NAMB+ ............................................................ nambplus.com ..............................................................19 NAPMW ............................................................ napmw.org ............................................................29 & 69 NAWRB ............................................................ nawrb.com ....................................................................15 New American Funding ...................................... newamericanfunding.com ..............................................80 NRMLA.............................................................. nrmlaonline.org ............................................................73 Origination Pro.................................................. originationpro.com ........................................................57 Paramount Residential Mortgage Group, Inc. ...... prmg.net ................................................Inside Back Cover Quicken Loans Mortgage Services ........................ qlmortgageservices.com/strongertogether ........................11 Redstone Print & Mail Inc. ................................redstoneprintmail.com ..................................................65 REMN................................................................ remnwholesale.com ......................................................13 Ridgewood ........................................................ ridgewoodbank.com ......................................................67 TCF Financial Corporation ..................................tcfbank.com/brokerloans/compensation ..........................75

Go to http://nmpmag.com/mostconnected

MAY 2019 Volume 11 • Number 5

FROM THE

publisher’s desk

Focusing on mastering marketing They say that nothing happens in any business until someone makes a sale. While that’s true, 1220 Wantagh Avenue • Wantagh, NY 11793-2202 companies find it much harder to make those sales if the marketing hasn’t been done correctly in Phone: (516) 409-5555 • Fax: (516) 409-4600 advance. Web site: NationalMortgageProfessional.com Textbooks will tell you that the marketing department makes the choices on product, pricing, STAFF Eric C. Peck Joel M. Berman placement, promotion and people. But in a business like home finance, some of that work is handled Editor-in-Chief Publisher - CEO (516) 409-5555, ext. 312 (516) 409-5555, ext. 310 for us by investors or regulators. In the past, mortgage marketing was simply a matter of printing ericp@mortgagenewsnetwork.com joel@mortgagenewsnetwork.com rates in the local paper and waiting for people to walk into the branch. My how things have changed! Joey Arendt Beverly Bolnick Today, mortgage marketers have to be every bit as savvy as those working in any other business. Art Director VP-Sales & Marketing (516) 409-5555, ext. 323 (516) 409-5555, ext. 316 Instead of competing only with other institutions, our marketers find themselves competing with joeya@mortgagenewsnetwork.com beverlyb@mortgagenewsnetwork.com everyone for the consumer’s attention and every online retailer for a better experience. It has Scott Koondel Phil Hall VP of Operations Managing Editor become a very demanding job. (516) 409-5555, ext. 324 (516) 409-5555, ext. 312 Fortunately, we have some great marketers in our industry, and in this special issue, we’re scottk@mortgagenewsnetwork.com philh@mortgagenewsnetwork.com bringing many of their voices to you and letting them share their experience for your benefit. We like Richard Zyta Francine Miller Social Media Ambassador Advertising Coordinator to start out thinking strategically, so ... (516) 409-5555 (516) 409-5555, ext. 301 richardz@mortgagenewsnetwork.com francinem@mortgagenewsnetwork.com Set your strategy by reading “A Marketing Mindset in the Mortgage Industry,” by Sara BjellosRick Grant Dylan Pollock Hood, account executive for Florida Capital Bank & Andrea Lefebvre, managing director of Special Reports Editor Administrative Assistant production for Florida Capital Bank. Then, check out “The Marketing Pie and How to Get Your (570) 497-1026 (direct) (516) 409-5555, ext. 314 (516) 409-555, ext. 311 dylanp@mortgagenewsnetwork.com Piece,” by Mary Kamelle, marketing manager at Mortgage Equity Partners. rickg@mortgagenewsnetwork.com There are so many great tactics available to the mortgage marketer and we’re bringing you the ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact information you need to make the most of them. But it all starts with your story, so read “Is Your VP-Sales & Marketing Beverly Bolnick at (516) 409-5555, ext. 316 or e-mail beverlyb@mortgageBrand Story Worth Telling?” by Brent Emler, director of sales and marketing at Velma.com. Spoiler newsnetwork.com. alert … it is! So don’t miss “The Case for Content Marketing: Why More Warehouse and Wholesale ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck Lenders Should be Using It,” from public relations pros Brian Rieger and Rick Grant, founders of at (516) 409-5555, ext. 312 or e-mail ericp@mortgagenewsnetwork.com. The deadline for submissions Content Beacon, a new service designed to help bankers get that job done. is the first of the month prior to the target issue. For more tactics you can start using today, don’t miss any of these features: SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgagel “Six Ways to Boost Your Business Through Social Media,” by Sarah DeCiantis, chief marketing newsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. officer for United Wholesale Mortgage (UWM) Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the l “How Marketing and Technology Automation Can Boost Your Business,” by Lisa Fenske, senior authors alone and do not imply the opinion or endorsement of Mortgage News Network Inc., or the offivice president of marketing and communications for Waterstone Mortgage Corporation 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) l “Content Marketing Trends for the Mortgage Industry in 2019,” by Patrick Foster, content leader and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, ARMCP and/or other state mortgage trade associations for Ecommerce Tip events, activities and/or publications is available on a non-discriminatory basis and does not reflect the l “How to Triple Your Database Referrals for Only $3 Per Day,” by Nick Carpenter, founder of The endorsement of the product and/or services by Mortgage News Network Inc., NAMB, NAPMW, NCRA, and other state mortgage trade associations. Legion of Loan Officers National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, ARMCP and/or other state l “How to Increase the Effectiveness of Four Mortgage Marketing Tools,” by Chris Carter, founder 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 conand president of Market Focus Inc. 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 artil “Sourcing Non-QM Clients in the Modern Mortgage Marketplace,” by Mike Brenning, chief cles, information or data. production officer for Deephaven Mortgage I expect you already know that we are all big believers in the power of video marketing here at the sister company to Mortgage News Network. But you don’t have to be a media company to benefit from video. Find out more by reading, “How Video Marketing Is Changing the Game for Mortgage Professionals,” by Jacquelyn Knoll, marketing coordinator at WebMax, and “Lights, Cellphone, Action!” by Shirleen Von Hoffmann, a nationally-known top producer, author, speaker and writer for many real estate magazines. Finally, rounding out our special focus, we bring you our first-ever “Mortgage Marketing Roundtable Discussion.” Editor-in-Chief Eric C. Peck has brought together some of the industry’s top marketing minds and grilled them on a number of marketing concepts and ideas that impact our ever-shifting mortgage industry. It’s great reading! I think you’ll find this to be one of the best special focus issues on marketing we’ve ever done, but we have much more in store for you this month. In this issue, we also bring you a great piece on leadership and what it really takes for companies to execute on their goals from Christine Beckwith in “The Beckwith Blog: The Missing Piece! Why People and Companies Fail to Succeed.” Christine offers some great advice on the critical importance of follow through, and turning words into action. We also get a visit from Mortgage News Network’s “The Mortgage Godfather” Ralph LoVuolo Sr., as he puts pen to paper this month for his feature article, “The Mortgage Godfather: No More Pens!” It’s all about hitting the convention circuit and dealing with salespeople. And we have some industry trend pieces you should be sure to read. See “Spring Homebuying Trends and Military Servicemembers,” By Michael Greenwood, president of NewDay, and our special Q&A titled, “Are Millennials Well-Suited for a Mortgage Lending Career?” Castle & Cooke Mortgage CEO and President Adam Thorpe shares his insight with us. And to keep things balanced, he’s joined by a bona fide Millennial, Castle & Cooke Mortgage Lending Manager Taylor Madsen for a counterpoint. Interestingly, while both agreed and disagreed about the relative strengths and weaknesses of Millennial employees, there was firm agreement that Millennials are indeed capable of forging a successful mortgage industry career. And you’ll find all the great compliance and motivational information you find every month in the pages of our publication. We hope you enjoy this special issue and that it empowers your sales teams to greater success as we move fully into the 2019 spring homebuying season. Sincerely,

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

NationalMortgageProfessional.com

n National Mortgage Professional Magazine n MAY 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

MAY 2019 n National Mortgage Professional Magazine n

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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 Set to Launch New Site To all 1,600 members of the Association of Residential Mortgage Compliance Professionals (ARMCP), the new ARMCP.org Web site is nearing its official launch, a state-of-the-art platform 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,” said Jonathan Foxx, Ph.D., MBA, Founder and President of ARMCP. “Our current digital abode is on LinkedIn, and we will keep the LinkedIn group, though most of us will move to the new Web site home. We’ll be sending announcements your way soon, via LinkedIn and other media resources! If you have not yet joined ARMCP, please contact me at Info@ARMCP.org and I will send you an invitation.” ARMCP is the first and only independent, national organization in the United States devoted exclusively to residential mortgage compliance professionals. ARMCP’s independence means it is a non-profit association, owned and managed by its members, and not dependent on any profitbased enterprises. If you would like to join the association’s Steering Committee, create a forum to discuss news and views, or help in any way to build our organization, e-mail Info@ARMCP.org. For more information, visit ARMCP.org.

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Lender Services Are Key to Non-QM Success By Tom Hutchens

oan officers who build profitable non-QM pipelines know the importance of working with a lender who delivers uncomplicated, personal service from prequalification through closing. Processing non-QM loans is different from agency loans.

MAY 2019 n National Mortgage Professional Magazine n

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For those of you eager to offer non-QM loans—and originators who have had a less-than-positive intro to non-QM deals—the quality of your lender’s systems and the reliability of their people are critical. Whether you do your own processing or work with a team, make sure the non-QM lender you choose can and will do all the following: l Recommend the loan: Non-QM products are diverse. You must be able to rely on an experienced account executive who takes the time to understand each borrower’s unique story and helps you select the loan program that best meets your client’s needs and desires. l Have a complete, easy-to-use online portal: Non-QM loans often involve more varied documentation and conditions than agency loans. The lender’s Web functionality must be complete. More importantly, you must be able to communicate seamlessly both online and with lender personnel. Beware the non-QM lender who says, “You can do everything online.” l Communicate consistently, attentively: Because underwriting is manual and often involves a nuanced understanding of the borrower’s unique story, loan officers and processors are more likely to engage directly with underwriters. For satisfying non-QM lending experiences, all the lender’s personnel must be on the same page and eager to help. l No shortcuts: High-quality, non-QM lenders maintain strict compliance standards. Because the industry generally has, delinquencies and failures of non-QM loans in 2018 were lower than for agency loans. Do not confuse aggressive rates and skillful marketing with high quality lender services. Be wary of non-QM lenders who are willing to overlook questionable circumstances or go against their own compliance standards. Closing questionable deals threatens the long-term success of the entire sector. l Listen, educate and adapt: Since non-QM loans were introduced five years ago, the best practices established by Angel Oak and other pioneering lenders have been responsible for both the dramatic growth in volume and their excellent performance in secondary markets. Make sure your non-QM lender has been in the space for some time, offers training and marketing resources that help you succeed, and has a diverse range of products that give potential borrowers access to their ideal loan program. To learn more about non-QM best practices, contact the Angel Oak account executive for your area at AngelOakMS.com/map/ or by calling (866) 837-6312. Tom Hutchens is EVP, Production at Angel Oak Mortgage Solutions, an Atlanta-based wholesale and correspondent lender licensed in more than 40 states and operating in the non-QM space for over five years. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 539-4910 or e-mail Info@AngelOakMS.com.

SPONSORED EDITORIAL

the

elite performer Growing Pains=Gains BY ANDY W. HARRIS, CRMS

ight now, there are many challenges that companies are facing in the mortgage industry. With these challenges, however, come significant opportunities for others. While attrition is being faced by many, significant (and very fast) growth is also happening in certain sectors of our market. Quick growth during a period of necessary and required margin compression can come with growing pains. Growth is great, but it must be done responsibly, conservatively, with the right team members, and with a detailed plan of action. I’ve been watching this growth and experiencing it myself personally. My team and I have worked to adapt to these demands, but certainly time is a precious source that can be depleted when training and hiring new people in an entirely different channel and process (even if in the same industry). We all have both good and bad habits, and it’s a matter of determining which is which as quickly as possible. Time and self-management are a vital part of the growth process to ensure maximum productivity. When time is taken away from revenue-producing activities ‘temporarily’ by management or staff, the long-term goal is to simply gain market-share. When growing and hiring new employees, you must have a clear direction. All meetings and training must be productive, and it must be scheduled with designated staff members. This can be difficult when business demands are high and balancing times that work as a small business. In addition, the biggest challenge we’ve noticed is “re-training” and trying to have people completely start fresh and forget what they did before to learn new systems. Embracing this change can be hard, as well as speed and abilities with new technology, computers and paperless operations for those not fully adapted to it. If the time is not budgeted to ensure comprehension on process to have a clear path for new team members, be prepared to put out fires. The goal should be, instead, to not let a fire start in the first place. Be involved in the weeds if in management, set a clear direction, have a documented system and step-by-step process in place, and make sure any new employee(s) are clear on what they should be doing. An organization chart or one that is easy to read and follow is something we’ve continued to try and develop and adjust as we move along. As always, closely monitor the trends of the future and keep margins aggressive and closely watch profits and cash-flow as top priority when growing and scaling in an ever-changing industry.

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.

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n National Mortgage Professional Magazine n MAY 2019

Marketing Tips to Increase your Business

David Schroeder serves as the Senior Vice President of Quicken Loans Mortgage Services (QLMS). During his time with Quicken Loans, he has led efforts to provide Mortgage Broker partners with new client leads, sales automation, online training and portal technology. Just before joining Quicken, Schroeder worked in sports marketing, developing high-end experiences for the Super Bowl, Kentucky Derby and The David Schroeder Masters Tournament. QLMS, Sr. Vice President National Mortgage Professional Magazine had a chance to chat with David to discuss some of his firm’s marketing strategies and to zero in on exactly what has made Quicken a household name across America.

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What are some tried and true marketing techniques that have been found to be effective at Quicken Loans Mortgage Services (QLMS)? David Schroeder: I’m a big disciple of the “Test and Learn” approach to marketing–firing small bullets and refining the hypothesis or tactics, then launching the cannonballs as a sustained strategy. That said, I think live events, which create meaningful conversations and build relationships, are the most impactful. Whether at trade shows or our Pinnacle Partner events, we’ve learned that “talking at” our partners is much less valuable than setting up a dialogue where ideation, different perspectives and honest feedback can flourish. That’s harder than just setting up a big booth or rolling out the red carpet … it requires strategic planning around goals and a vulnerability to listen and change and the payoff is huge. Another marketing strategy we’ve had incredible results from is providing valuable resources to our partners. Quicken Loans is the undisputed leader in marketing within the mortgage space, and we’re constantly working to translate that experience into value for our partners. That includes e-mails, flyers, direct mail campaigns, social media graphics and more–provided to partners for them to customize and use for free. We don’t operate from a fear-based perspective of a zero-sum game, but rather, a mindset of abundance where we are stronger together with partners who find new clients and new ways to engage with every eligible homebuyer in America. Finally, I firmly believe the most powerful marketing tool is our amazing team members. Through deep training, a shared mission, integrity of communication and positive leadership, our team members define our brand and earn relationships every day. How has the power of social media impacted the company? David Schroeder: At QLMS, we start by thinking deeply about the topics and trends that our Partners and prospects care about. Then, we use targeted- and sponsored-marketing to deliver the most relevant message to that audience. Finally, we work to intentionally engage with comments on our posts in an effort to create a dialogue. I hate the idea of LinkedIn being a bulletin board of one-direction messages. It’s so much more powerful when there’s an honest exchange of ideas that’s meant to elevate conversations, and ultimately, the industry at large. The other powerful element of social media today is video. It’s something I’ve been personally investing more time to better

understand what people want, and how I can deliver that more effectively. I will say this–there are no shortcuts. It takes a ton of practice. When we launched our CMZ show for Capital Markets news, we filmed more than 70 shows before we really hit our stride to perfect the message, the anchors and the production pacing. What can mortgage brokers share to help craft their company and personal brand? David Schroeder: I would say that I learn things about marketing every day from our broker Partners. What I’ve shared here are things I’ve learned by talking and listening to these incredible entrepreneurs over the years. It always starts with authenticity. I can tell you all day that my brand is about speed and trust, but if I fail to provide proactive communication to set expectations or miss the close … well, my brand is just that. Companies and loan officers really need to build brands around who they are, what matters to them, what they are committed to–then stay true to them. With clarity in what that brand is, brokers need to over-invest in aesthetics. A mentor of mine once told me: “You need to look bigger than you are.” The point was that customers and prospects judge you based on first impressions. It’s a timeless truth and I believe it’s amplified in the digital world, where trust is so important. If someone goes to your Web site and it looks like a garage operation, how likely do you think they are to go check other options? The details matter, so convey professionalism and strength in everything you put out to the world at all times. Finally, I regularly remind our Partners how much online referrals and references matter. A recent study showed more than 85 percent of customers trust online reviews as much as personal recommendations. That’s amazing! Loan officers need to be intentionally cultivating recommendations and getting them on multiple platforms, like Google, Yelp, Zillow and more. You never know where your next customer is looking. As an added benefit, these reviews also help drive search relevance when people are looking for a mortgage broker. What marketing methods have you found to yield the highest conversion rate? David Schroeder: If you want customers to respond, put yourself in their shoes to think about what matters to them–what are their challenges, questions and aspirations? Too often, marketers start with features and benefits without truly empathizing with their audience and narrating to their point of view. With that in mind, we work in an industry with A LOT of acronyms and technical terms. The average consumer doesn’t know what “LTV” is, and yet I consistently see marketing with terms like that in the copy. We’ve got to always challenge ourselves to keep things simple and educate along the way to build confidence. Having a clear call to action is another critical element to high conversion rates in any marketing. The message should directly lead the audience to what they should do next–download a case study, price a loan, call the phone number, subscribe to a newsletter, whatever. It’s a fine balance between being too assumptive with trustbuilding and deliberately leading someone along the path to a relationship. I think of it as bread crumbs–providing incrementally more value and asking for (earning) more trust with each interaction where the client makes a decision to proceed.

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T Quicken Loans Debuts Refi Program for Vrbo Property Owners

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Quicken Loans has partnered vacation rental company Vrbo on a new program that allows rental income earned through Vrbo to be used to qualify for a mortgage refinance. According to the companies, the new program uses confirmed and documented rental income to allow homeowners to detail their full income stream. Mortgages for primary residences, vacation homes and investment properties are all eligible through this innovative new program. Furthermore, Quicken Loans clients can use income generated from offering their properties for rent as vacation homes on Vrbo to qualify for a conventional mortgage to refinance their mortgage. “Vrbo helps homeowners use one of their biggest assets as a source of income. Now Quicken Loans can accurately review that income and consider it when calculating the debt-to-income ratio–a major data point considers when qualifying for a mortgage,” said Jay Farner, CEO of Quicken Loans. “As our economy continues to evolve, it’s important that our lending calculations continue to evolve along with them.”

Non-QM Mortgage Program Debuts From New American Funding

New American Funding has introduced its Non-Qualified Mortgage (Non-QM) for borrowers who have difficulty qualifying for traditional mortgages because they are either self-employed, have non-traditional incomes or have qualifying assets but no income. According to the Tustin, Calif.based company, the loans originated under this program can be used for purchase or refinance loans. Borrowers with income sources outside of a steady paycheck can be qualified for approval using a one-year tax return, bank statements going back six or 12 months or through an asset qualification process. “We’re dedicated to making sure everyone has an equal opportunity to achieve the American dream,” said Rick Arvielo, CEO of New American Funding. “At New American Funding, we’re excited to offer more options to a more diverse set of consumers and help them through the homeownership process.” Loan Vision Adds Lease Management Functionality to Meet FASB Changes

Loan Vision, a provider of financial solutions to the mortgage industry, has announced that is has added lease management functionality to their mortgage accounting system. This addition, made possible through a

partnership with the Soft4Lessee solution built on Microsoft Dynamics NAV, will help customers manage leases according to the new ASC 842 standards. Under these new standards, leases more than 12 months must be accounted for as liabilities and be reflected on the balance sheet. The new functionality will help make the transition to those standards easier and quicker. “We have always set out to automate processes and save time and money through innovation. This new lease management tool adds the same ingenuity to Loan Vision that is needed to help keep our customers growing,” said Loan Vision President Martin Kerr. “The ability to integrate a globally-used software, such as Soft4Lessee, shows the strength of our Microsoft NAV-based solution because it allows us to incorporate other solutions built on NAV.” Available to both new and existing customers, the new functionality automates and organizes an otherwise timely processes. Users will be able to calculate lease projections, post lease transactions straight to the General Ledger, and manage right of use etc., among other capabilities, with the tool. Home Point Partners With Matic Homeowners Insurance Options

Matic has announced a partnership with Home Point Financial Corporation to help its mortgage servicing customers find competitively priced homeowners insurance. Through

the partnership, Matic will proactively analyze Home Point customers’ current homeowners insurance coverage and identify individuals who could save money simply by switching to a different A-rated insurance carrier. “At Home Point, we value the relationship we have with our customers,” said Home Point Chief Operating Officer Brian Brizard. “We constantly seek ways to improve their lives and their finances. Our partnership with Matic gives Home Point customers access to a fast and efficient way to insure their home with confidence.” Matic Co-Founder and Chief Executive Officer Ben Madick said, “Integrating homeowners insurance into the mortgage loan process is a win-win for Home Point’s customers. Matic helps Home Point stay connected with its customers in the best possible way—by providing a quick and potentially cost-saving way to find the right homeowners coverage for their mortgage loan.” Lender Price and Mountain West Announce New Digital Lending Platform

Lender Price and Mountain West Financial have announced the successful rollout of Digital Lending Platform (DLP), Lender Price’s online borrower portal, a borrower engagement platform that automates and streamlines the mortgage loan application process. The platform integrates with loan origination systems (LOS) to create a seamless environment between the

Lenders Compliance Group Launches New Web Compliance Check

Web site policies and procedures. Guild Mortgage Announces New Homebuyer Protection Program Guild Mortgage has announced Homebuyer Protection, a program designed to give customers added protection and peace of mind during the mortgage process. Homebuyer Protection combines three of

Guild’s loan programs and services—Lock & Shop, Credit Approval Protection and Homebuyer Express with 17 Day Closing Guarantee—effectively allowing homebuyers to protect their rate, earnest money and closing date. With Lock & Shop, customers can lock in their interest rate for 90 days while shopping for a home. Once they have found a home, they will have the option to float-down their rate, at no cost, if rates decrease. Credit continued on page 32

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Lenders Compliance Group has announced the availability of its Website Tune-Up, a Web site evaluator that ensures your organization is in compliance with relevant laws, regulations and Best Practices relating to the residential mortgage banking industry. “Our compliance Website Tune-Ups are a great way to quickly evaluate virtually all regulatory elements in mortgage banking, proving that compliance

reviews do not have to be expensive or take forever to get done,” said Jonathan Foxx, chairman and managing director of Lenders Compliance Group. “We have pioneered unique regulatory tune-ups that are affordable, full compliance reviews, promptly completed by subject matter experts, and delivered in an actionable report.” Website Tune-up reviews a firm’s entire site to verify that links are operational and in accordance with accepted practices, along with a review of

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borrower, loan officer and the lender’s operation staff, resulting in a smoother, more transparent and faster mortgage closing process. “Our borrowers want a convenient and easy to use way to engage with us online,” said Mike Douglas, CEO of Mountain West Financial, a retail and wholesale mortgage lender. “The reason we chose Lender Price is because their platform gave us the flexibility to create a process that doesn’t have a lot of ‘fluff’. We built an efficient workflow that encourages borrowers to complete the application while also ensuring that information was captured in our LOS in realtime.” DLP features digital verification services for assets, employment and credit reports, which intelligently fill out loan application data and drive more complete and accurate borrower submissions. DLP provides intuitive tools that allow mortgage lending institutions to create their own borrower experience without any technical know-how. “Our clients include several large banks and mortgage lenders that insist on controlling the borrower experience,” said Dawar Alimi, CEO of Lender Price. “We built tools that are specifically designed for nontechnical people to create complex workflows within DLP. By giving our clients both the flexibility and control they want, we’re providing a sustainable platform because it can change and adapt to their needs over time.”

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NAMB Supports Expanding Fair Housing Act to LGBT Community

join-in with our support of the Equality Act.” Calabria: FHFA Could End GSE Conservatorship Without Congress

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NAMB has called on its members and the general public to support two new congressional bills that would expand the Fair Housing Act to include the LGBT community among its protected classes. The trade group backed HR 5, the Equality Act introduced in March by Reps. David Cicilline (D-RI) and Rep. Brian Fitzpatrick (R-PA) and its companion bill, S 788, the Equality Act introduced in the Senate by Sens. Susan Collins (R-ME) and Angus King (I-ME). In addition to expanding the Fair Housing Act, the legislation would also expand the Civil Rights Act of 1964 to include protections for LGBT Americans. “NAMB looks forward to the enactment of the Equality Act and we extend a great deal of gratitude to Congress for taking on this piece of legislation,” said Kimber White, NAMB board member. “No American should live under the hideous yoke of discrimination and with this work within Congress, NAMB is sure our great nation will take one step closer to ensuring no citizen experiences the true ugliness of being discriminated against. We urge our members and the public to

The new Director of the Federal Housing Finance Agency (FHFA) has stated the agency would unilaterally end the federal conservatorship of the government-sponsored enterprises (GSEs) even if Congress fails to pass housing finance reform legislation. In an interview with Bloomberg, Mark Calabria stated lawmakers will get “at least an entire Congress” to act before the FHFA takes matters into its own hands to end the conservatorship that has been in place since September 2008. This would put the date of any possible action into 2021, following the next national election cycle. Calabria’s comments follow a recent plan issued by the Trump Administration to address the conservatorship. However, Calabria insisted that a postconservatorship supervision team to be in place and the GSEs would need to reach certain capital goals before any action is taken. “It’s insolvency, lack of capital that triggered the conservatorship,” he said. “It’s going to have to be solvency, sufficient capital that primarily triggers the exit.”

Calabria added that he would consider initial public offerings (IPOs) for Fannie Mae and Freddie Mac, although he was skeptical if that was the right strategy. “Even if it was the largest IPO in history it’s not clear that that could do that in one fell sweep,” he said. Eventually, capital ratios at Fannie-Freddie would need to “look like any other large financial institution,” he said. Sharestates Honored With Top Real Estate Platform Award

Sharestates has been named “Top Real Estate Platform” at LendIt Fintech USA 2019 in San Francisco, an award based on performance, volume, growth, product diversity and responsiveness to stakeholders. “Sharestates has shown impressive growth over the past year, while also providing great returns for investors,” said Peter Renton, co-founder and cochairman of LendIt Fintech. “They deserve the LendIt Fintech Real Estate Platform of the Year for 2019.” Since launching in 2015, Sharestates has closed on more than $1.7 billion in total loan volume and returned more than $675 million in principal to investors. Average annualized returns have exceeded 10 percent every year. As a result of its strong performance and valued relationships, 82 percent of Sharestates loan volume has

come from repeat borrowers and 81 percent of its investors are repeat investors. “To think only five years ago we walked into LendIt not knowing what to expect as part of an industry that was beginning to find its way into the financial marketplace as private lenders, and today we are acknowledged by our peers as a leader in the space,” said Sharestates CoFounder and CEO Allen Shayanfekr. “It’s humbling, and we look forward to continued success through strategic partnerships as well as being part of a monumental financial movement. On behalf of our organization, I’d like to thank LendIt Fintech for such an honorable award. We are very excited about the coming year, and our product rollouts. The community spoke, we listened, and we’re ready to execute!” Barry Habib Named EY Entrepreneur of the Year Finalist

EY has announced that Barry Habib, chief executive officer of MBS Highway, has been named a finalist for the Entrepreneur of the Year 2019 New Jersey Award. Widely considered one of the most prestigious business awards programs in the U.S., the program recognizes entrepreneurs and leaders of high-growth companies who are excelling in areas such as

innovation, financial performance and personal commitment to their businesses and communities, while also transforming our world. Habib was selected as a finalist by a panel of independent judges. Award winners will be announced at a gala event set for June 20 at the Hyatt Regency New Brunswick. “I’m very honored to be considered for this very prestigious award,” said Habib. “There are so many incredible candidates, and it’s quite an honor to have made it into the final round. This award highlights the entrepreneurial spirit in all of us.” Now in its 33rd year, the program has expanded to recognize business leaders in more than 145 cities and more than 60 countries throughout the world. Founded and produced by Ernst & Young LLP, the Entrepreneur of the Year Awards are nationally-sponsored by SAP America and the Ewing Marion Kauffman Foundation. In New Jersey, sponsors also include DLA Piper and PNC.

expenses, like rent or a mortgage, food, prescriptions and more while they are going through treatment. Plaza’s donations have also helped Komen San Diego fund groundbreaking research. “It is an honor to partner with Komen San Diego for the seventh year and help it make strides in the fight against breast cancer, one of the most frequently diagnosed cancers,” said Michael Fontaine, chief operating officer and chief financial officer at Plaza Home Mortgage. “Breast cancer has impacted the lives of so

many of us, so we are extremely proud to be one of Komen San Diego’s largest corporate contributors.” Morgan Stanley in $150M Settlement on California MBS Sales

Morgan Stanley has agreed to pay $150 million in a settlement

with the State of California that resolves charges that the financial institution concealed the high risk of mortgage-backed securities (MBS) sold to the California Public Employees’ Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) between 2003 and 2007. Morgan Stanley was accused of violating California’s False Claims Act, the Corporate Security Law and the False Advertising Law. As part of the continued on page 16

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Plaza Home Mortgage has donated $41,000 to Susan G. Komen San Diego. This past October, Plaza announced its seventh annual donation program to support the charity in recognition of Breast Cancer Awareness month. In recognition of the company’s continued support throughout the years, Komen San Diego awarded Plaza with its Laura Farmer Sherman Award, which recognizes San Diego’s strongest advocates, innovative partners and committed volunteers. To date, Plaza has raised more than $500,000 for Komen San Diego. Plaza’s contributions have helped thousands of women get free mammograms, biopsies, ultrasounds, care coordination, education and financial assistance for breast cancer patients’ most critical needs during treatment. This year, Plaza’s donation will be designated to women and their families who need financial assistance covering living

Mail Beats Digital ... Again By K. Justin Restaino

“The more things change, the more they stay the same.” —Alphonse Karr

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hile digital marketing has surged in recent years, studies confirm the most effective strategy for acquiring new purchase and refinance clients remains in targeted direct mail. But why does it continue to be effective? The strongest case made for direct mail effectiveness can be boiled down to one word: Tangibility. A recent neuroscientific study, sponsored by the Postal Service Inspector General's Office, found direct mail ads to be superior to those viewed online. The study reported, "Digital ads seized the attention of consumers quicker, but physical ads held that attention longer, elicited a greater emotional reaction, and played a more direct role in ultimate purchase decisions." The same study shows that direct mail requires 21 percent less cognitive effort to process than digital media, suggesting it is easier to follow and due to its tangible nature, able to be retained indefinitely. Now we know why direct mail continues to work, but this begs the question: “How do I improve my current direct mail efforts?” The biggest factors to accomplish this boils down to improved mailer design, data criteria and sales staff ability. If you are using the same “cookie-cutter” mailers as the rest of your competitors (a very common issue with those focused on VA and FHA markets), while also using basic county/title derived data and rolling it out to your entire sales floor, there is certainly room for improvement. Connecting with a marketing firm that has a “lifeguard view” of mail pieces in circulation will ensure your mail designs are not oversaturated, a common fault. In addition, be diligent in reviewing your data criteria for untapped markets your competitors may be overlooking. Your marketing firm should also know what is unsaturated (and potentially an untapped gold mine for you). While improved mail design and data criteria can increase your return, the single biggest factor to improve your efforts resides in your sales staff; if they fall short on making every call a potential closed loan, any changes for the better amounts to wasted effort. Assessing the product knowledge of your sales staff may shed light on loan officers that are lacking in information, giving way for better training. This assessment can also shed light on the sales ability of your staff, allowing you to weed out those who only cater to “laydown- deals” from those that work every lead (even the unhappy ones). When launching your next mail campaign, ask yourself: “Am I taking full advantage and making the most of every mail drop?” If the answer isn’t an absolute positive, perhaps it’s time to start looking for new insight elsewhere. For nearly 20 years, K. Justin Restaino has provided the mortgage industry with innovative designs, data insight and scalable marketing campaigns with direct mail. After a two-year hiatus from marketing to originate first-hand, he’s even better equipped to give his clients the guidance needed for repeatable marketing efforts as director of marketing and business development at Redstone Print and Mail.

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settlement, CalPERS will recover $122 million in damages and CalSTRS will recover $8 million, with the remaining $20 million going to the Office of the Attorney General. “Morgan Stanley lied about the risk of its products and put profits over teachers and public employees who relied on its advice,” said California Attorney General Xavier Becerra. “Today’s settlement holds Morgan Stanley accountable for misleading Californians who were unfairly blindsided. Our office has recovered over $1 billion from cheaters on Wall Street since the financial crisis. Our work isn’t over.” Morgan Stanley did not issue a public comment on the settlement. Millennials Closed Loans at Fastest Rate in Four Years

It took an average of 40 days to close for all home loans for Millennials during March, down by two days from February and marking the shortest closing period since February 2015, according to new data from Ellie Mae. On average, refinances for Millennials took 42 days to close in March, 11 days faster than the month prior, while time to close a purchase plummeted from 45 to 39 days. For all loans closed by Millennials in March, 68 percent were conventional mortgages and 28 percent were FHA, while VA and other loans accounted for two percent and three percent, respectively. “Homebuying tends to pick up in the spring and lower interest rates are intensifying this trend among Millennials,” said Joe Tyrrell, executive vice president of strategy and technology at Ellie Mae. “Likewise, lower interest rates are providing increased purchase power to Millennials, allowing them to participate in a very competitive home buying market.”

LoanLogics Sponsors American Cancer Society’s Hope Gala

LoanLogics recently served as a Champion Sponsor of the American Cancer Society’s (ACS) South Jersey Hope Gala at The Merion in Cinnaminson, N.J., and that the company’s Chief Executive Officer, Brian Fitzpatrick, served as event chair. The Hope Gala raises funds for a variety of patient programs and services to support cancer patients, their caregivers and those whose lives have been affected by cancer. The mission of this year’s event is providing access to care for cancer patients. The gala is in its eighth year, and has raised nearly $1.5 million for ACS. “We are proud to once again support such an important fundraiser as the Hope Gala and even more thrilled that this year’s individual Hope Award winner is our friend Stanley C. Middleman, president and CEO of Freedom Mortgage,” said Fitzpatrick. “My involvement with this event began in 2012 and it has given me the opportunity to learn more about the amazing work of the American Cancer Society. The contributions raised from the event help support so many individuals and families, strengthening in them hope and optimism for their battle against cancer.” Vince Papale, a former Philadelphia Eagles player, the inspiration behind the Disney movie “Invincible,” and a cancer survivor, served as Master of Ceremonies for the event. Your turn National Mortgage Professional Magazine invites you to submit any information on regulatory changes, legislative updates, human interest stories or any other newsworthy items pertaining to the mortgage industry to the attention of: NMP News Flash column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

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

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Recruiting, Training and Mentoring Corner

The Importance of Marketing BY DAVE HERSHMAN

ou often hear the terms spoken as they are one–sales and marketing. For example, I went to a sales and marketing Webinar. However, these two subjects, while related, are very different. Simply stated:

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The objective of marketing is to produce leads. The objective of sales is to convert leads.

There are exceptions to these simple statements. For example, brand advertising is designed to create brand awareness. While this marketing may not bring in leads directly, it is designed to make your other marketing efforts more effective. We do a tremendous amount of sales training in the mortgage industry, and this training is certainly very important, but it is actually our marketing efforts that are more important than our sales efforts. Why is that? Marketing actually determines that extent of sales skills which are needed to convert a lead. This is because marketing determines the strength of the lead. For example: l

Think of the last cold call from a rate shopper you received. How tough was it to convert this lead? For this exercise, you will need topnotch sales skills in order to facilitate this conversion. For the last very strong referral you received, this was most likely many times easier to convert. Though you will need some sales skills, they will not need to be as strong as in the previous example. This also brings us to another point regarding marketing. While many associate marketing with advertising, the term “marketing” is much broader than advertising. Advertising is certainly an example of marketing. But marketing includes a wide variety of activities in addition to advertising: l l l l l

If you are advertising the lowest rates to the general public, you will be generating rate calls. Unless you truly have the lowest rates, it will be tough to convert these cold calls.

If your marketing involves networking within your sphere and the message is the delivery of value, then the referrals produced will be much easier to convert.

to make sure that your loan officers are not succumbing to the law of infinity. The more marketing activities that you undertake, the less effective you will be because a key to marketing is to be consistent. If you try too many things, there is no possibility you can be

consistent with all or any of these. Thus, to be effective as a manager, you must assess your marketing efforts to determine how much sales training your sales force will need. Plus, you must make sure these marketing efforts are focused.

“If you are a manager, you need to make sure that your loan officers are not succumbing to the law of infinity. The more marketing activities that you undertake, the less effective you will be because a key to marketing is to be consistent.”

Calling previous customers or potential referral sources Posting on social media E-mailing your database Having lunch with a real estate agent Wearing a name tag

There are many other examples, but you can see that there is a wide range of marketing activities. This wide range also presents a dilemma. If you are a manager, you need

Dave Hershman is a top author in the mortgage industry, with seven books published as well as having founded the OriginationPro Marketing System and the OriginationPro Mortgage School–the online choice for mortgage learning and marketing content. He may be reached by e-mail at Dave@HershmanGroup.com or visit OriginationPro.com.

NAMB+ is an independent, wholly-owned, for-profit marketing subsidiary of NAMB, The Association of Mortgage Professionals.

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arketing can be seen as the foundation of the entrepreneurial mortgage spirit. One needs to get their name out to the consuming masses, and in order to do so, need to implement the very vital function of marketing in their diverse business plan. The marketing vehicle has taken on a number of shapes and forms over the years, from the ever-expanding digital arm of marketing, to the time-tested print marketing, to snail mail and printed mail, all the way to old-fashioned word of mouth. And while there is no one single proven method to market one’s goods and services, many have come down the pipeline over the years proclaiming their method as the tried and true path in which to drive customers through the door. Many have coached, led classes, delivered seminars and Webinars, but no one can take claim to the Iron Throne of “Marketing Guru,” although many claim ownership over that distinction. In conjunction with our Special Focus on “It’s All About Marketing” this month, National Mortgage Professional Magazine was able to get some of the industry’s top marketing minds together to share their ideas on a number of marketing concepts and ideas that impact the ever-shifting mortgage industry. Let’s meet our panel as they share their words of wisdom and advice, imparting their years of industry experience in the field of marketing, and sharing their knowledge with our readership …

National Mortgage Professional Magazine Presents …

MORTGAGE MARKETING ROUNDTABLE DISCUSSION 2019

Roundtable participants Erica LaCentra RCN Capital Erica LaCentra serves as director of marketing for RCN Capital, responsible for planning, developing and implementing the company’s marketing plan, as well as overseeing the company’s marketing department. Joining RCN Capital in 2013, Erica led a strategic rebrand to position the company for nationwide expansion. Erica’s ongoing efforts have rapidly expanded RCN’s customer base and elevated the company to a national brand. Erica is involved in every aspect of RCN’s marketing initiatives, including new program launches, the creation of the company’s traditional and digital media, content development and web site management, the management of paid search advertising, social media marketing and email marketing as well as the coordination of tradeshow sponsorships and event involvement. Erica currently serves as a member of the American Association of Private Lenders’ (AAPL) Education Advisory Committee, the Marketing & Communications Chair for AREAA Boston, and a member of the REI INK Editorial Board. Ralph LoVuolo

Andrew Schrage Money Crashers Andrew Schrage is co-founder and CEO of Money Crashers. After graduating college, he began work at a Chicago-based hedge fund. He soon realized that instead of serving the wealthy, he needed to address the void in our financial education system. He began working on Money Crashers with the mission to help kids, adults and families get on the

Steven Winokur Angel Oak Companies Steven Winokur is the chief marketing officer for Angel Oak Companies and oversees all marketing and branding initiatives for the firm and its affiliated companies. His primary focus is promoting the power of non-QM lending and establishing Angel Oak as the preeminent firm in that space. Steven has more than 25 years of experience in marketing and branding in both corporate and agency environments. Prior to Angel Oak, Steven was vice president of marketing for Buyers Protection Group, a national home warranty/home inspection firm. Prior to that, he was the assistant vice president of marketing and brand equity for United Guaranty. For more than 10 years prior to that, Steven was a partner in two different brand and marketing communications agencies. Geoff Zimpfer Movement Mortgage & Mortgage Marketing Institute Geoff Zimpfer is a former national sales trainer with Tony Robbins and has been in the mortgage industry since 2003. As a successful mortgage originator, he consistently closed 120 loans per year. He’s a national sales trainer and coach with Movement Mortgage, founder of the Mortgage Marketing Institute and host of the highly rated podcast Mortgage Marketing Radio.

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Anna Pambianchi American Financial Resources A career marketer with nearly two decades of experience, Anna Pambianchi is the senior marketing manager at American Financial Resources (AFR). Anna’s track record of success includes brand positioning, content marketing, copywriting/editing, Web site development, thought leadership campaigns, and targeted sales tools. She has managed segmented strategy development and roll-out in 12 vertical markets for a national graphics company, managed marketing for two different product divisions for a consumer electronics leader, and coordinated all U.S. marketing communications for a global diagnostic company. Anna recently brought her skills to the mortgage industry, joining AFR in 2018, and now manages all marketing efforts for the wholesale lender by combining big picture vision with detailed execution. Anna is a member of the American Marketing Association (AMA).

Tom Shaw elevenX Marketing Tom Shaw is managing director and founder of elevenX Marketing, working with CEOs, executives and marketing leaders to grow their revenue by creating omni-channel marketing strategies and delivering campaigns with an extremely talented team. Tom has worked as the most senior marketing executive for many public, private and start-up organizations. His experience extends from agency to early phase start-ups to leading marketing for mortgage originators such as New Century, Option One Mortgage (H/R Block), Guidance Residential and Carrington Mortgage Holdings. Tom has managed marketing teams ranging from three to more than 100 associates and budgets from $3 million to in excess of $100 million. He has negotiated sponsorship contracts and activation plans with MLB, NHL, NBA, NASCAR and many more. Tom enjoys speaking engagements at mortgage industry conferences, marketing events and has been interviewed by trade press and national news outlets including the Wall Street Journal, New Your Times and the local press. Tom is a fullycertified scuba diver, soccer coach and motorcycle enthusiast with fantastic wife, Kris and four wonderful daughters.

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Ralph LoVuolo is an author, speaker and coach to the mortgage industry. He has more than 60 years in “the business” of mortgages. There is almost no act that occurs in a mortgage company that he has not participated in and in some cases, he was a pioneer. He held in his hands the first GNMA MBS that was issued. He will tell you that story at the drop of a hat. He has started, either for himself or for others, nine mortgage companies. He has told the stories of his interaction with his father that will leave you laughing in disbelief. He extensively writes and speaks about all phases of the mortgage industry both to his coaching clients and groups throughout the USA. You should call him at (917) 576-1230, but before you do, look him up on LinkedIn, YouTube, or his Web site (MortgageGodfather.com).

right financial path through freely-accessible online content. A passionate cheerleader for financial education, he has been interviewed by top TV outlets, including MSNBC, CBS News, NBC News, and Fox News. He has also been featured in top publications including Forbes and U.S. News & World Report. In his free time, he loves to play ice hockey and tennis, and he enjoys meditating as well.

National Mortgage Professional Magazine Presents …

MORTGAGE MARKETING ROUNDTABLE DISCUSSION 2019

The roundtable

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highly competitive and there is no shortage To what markets does your company/firm of lenders or mortgage brokers. It’s hard to focus on? What methods do you find the focus on the general mortgage marketplace most success in reaching these markets? and do it well. Chances are, individuals Anna Pambianchi: AFR Wholesale is a fullwho take that approach will get beat out service mortgage lender serving the time and time again by competitors that wholesale and correspondent channels with specialize in one product or one area and their residential financing needs. We find that “If you offer a variety of products, but you don’t are known for their expertise in that area. combining digital marketing–including our For example, a large national lender may own online servicing portal, on-demand know them in and out, you’re not providing a have a hard time competing with a local education training, video content and good experience for your customers. Not only targeted e-mail campaigns–with good oldwill you not secure repeat business, but chances lender. Clients typically have a greater comfort level with a local lender because school personal connection tactics, provides are they will talk to others about their negative they feel the lender understands their the most success. The mortgage business is experience, damaging your reputation in the market better. Plus because of their becoming even more technology-driven for process.” specific knowledge of their area, a local both the consumer and broker alike, lender may be able to offer more especially with the development of —Erica LaCentra, Director of Marketing, aggressive terms and beat out a national automated broker-focused origination RCN Capital lender. That’s not to say folks cannot offer platforms. multiple products or cover numerous However, to be successful, it is vitally markets. However, your reputation is everything. If you offer a important to be able to create and maintain a personal connection variety of products, but you don’t know them in and out, you’re not with clients. That’s not to say you cannot utilize technology to foster providing a good experience for your customers. Not only will you and further develop those relationships, but talking with folks at not secure repeat business, but chances are they will talk to others events, participating in compelling live discussions on relevant industry topics, picking up the phone and actually speaking to people, about their negative experience, damaging your reputation in the process. I strongly believe that regardless of what you choose to sending out hand-written note cards … in my opinion, those things focus on, whether it be a specific market/niche product or the can’t–and shouldn’t–be replaced by technology. After all, the mortgage business is all about bringing families home and that, in and general mortgage marketplace, just make sure you can do it extremely well. of itself, is such a personal mission that it demands personal connection. Andrew Schrage: Focusing on niche products can earn you a lot of money in a short amount of time. Following trends in the Tom Shaw: At elevenX Marketing, we built an organization that marketplace and in the economy, and keeping up with the latest companies want to work with using marketing to develop their business, while controlling expense. We accomplish this through fixed mortgage products is important to be able to serve the trends in the market better than your competition. For example, the pricing packages, pay for deliverables and performance. Our mortgage brokers who concentrated on bad credit, sub-580 credit successful clients are marketing departments that are small- to midscores, no doc loans, etc. made significantly more in that short sized, under-resourced or lack the ability to source expertise in period of time that those products were popular. But focusing on marketing channels their company requires to grow. Since engaging our combined knowledge is a more effective use of capital than hiring traditional mortgage types such as conventional, FHA, VA or USDA will sustain you in the long run. When the niche loan types leave the a dedicated full-time equivalent (FTE), the returns are phenomenal. It market or are discontinued, the loan officers who have established could be as straightforward as taking their social media to the next themselves as experts in these niche areas are left scrambling. As a level, expanding lead generation or providing a trade event plan. We result, traditionally, those who have focused on the long-term have have more than 50 years of combined marketing experience for retail survived much better financially. (distributed and centralized) portfolio retention, wholesale (TPO) and correspondent lending. Also, expertise in servicing communications Steven Winokur: I am a big proponent of focus. Back when I was a that enhance the customer experience and assist those organizations partner in a marketing agency, we created a model called “The Law to conserve capital in a thin margin business. of Focus.” It basically stated that the more We see the following marketing you focused on a differentiated niche, the foundations in a successful marketing more successful you would be. I still strategy. The critical point is that there is not believe that to be true–rather than be a a “silver bullet” or “one thing” that will take generalist, focus on a niche product or your company from A to B. A novice marketer market. What people fail to realize is that will think that using Facebook, offering this will not preclude you from doing loans single product or having one flyer makes or outside that niche. However, you will get a breaks your origination. It’s the strategy and “What we must share are ideas that help our your application for refinement, optimization referral sources do more, produce more, create much higher percentage of loans within your perceived niche. It also gives you and attention to the details. Success for the more, impact more and help more. There is something unique to speak to your referral following verticals comprises of the following nothing more powerful than ideas and we have partners about. If you’re the same as integrated marketing channels: Consumer an obligation to share them.” everyone else, then getting your referral Direct, Customer/Portfolio Retention and —Ralph LoVuolo partners to pay attention is really difficult. Distributed Retail Branch. “The Mortgage Godfather” For example, if your focus is on the general mortgage marketplace, then how do you Is it better to focus on the general appear different to real estate agents? mortgage marketplace overall, or focus on Because of your service? Great rates? Or a niche product or market? perhaps speaking to them about your focus Erica LaCentra: The mortgage industry is

National Mortgage Professional Magazine Presents …

MORTGAGE MARKETING ROUNDTABLE DISCUSSION 2019 on self-employed borrowers. Now you have something different to create interest.

level of personal engagement. Are you actively creating and participating in conversations? Are you sharing helpful, quality content? Today, having an effective social media presence is a life skill because we now build customer relationships initially not face-to-face, but through content. Perhaps the most important social media ROI to measure is your level of skill in fostering engagement with people that leads to trust, which culminates in people choosing you. The most automated company isn’t going to win and the best technology isn’t going to win. The most human company will win.

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How can mortgage brokers track and determine their ROI on social media? Erica LaCentra: On a basic level, most social media platforms (Facebook, Twitter “… you cannot utilize technology to foster and and LinkedIn) offer analytics on organic posts, as well as paid advertising for further develop those relationships, but talking business accounts. Mortgage brokers can with folks at events, participating in compelling utilize these free tools to monitor views of live discussions on relevant industry topics, posts, as well as keep tabs on customer picking up the phone and actually speaking to engagement. However, if a mortgage broker people, sending out hand-written note cards … is looking drive more business through social in my opinion, those things can’t–and media marketing and plans on spending a significant amount of money, they should shouldn’t–be replaced by technology.” develop a social media marketing funnel with —Anna Pambianchi, Senior Marketing Manager, What can mortgage brokers share to a specific goal in mind with easily trackable American Financial Resources (AFR) help craft their company and personal conversion points along the way. If the brand? broker is looking to attract new customers, it could be as simple as Ralph LoVuolo: Every day, we read about new conceptions, developing a marketing funnel that starts by getting the customer theories and advances in technology, along with new techniques, to regularly engage with content that promotes brand awareness, new inventions and new methods to old challenges. Every one of such as downloading a white paper or viewing an educational video them start with an idea. These “things” advance science, content. The broker can make each step in the funnel a conversion philosophy, psychology, interpersonal relationships, families, point and use each piece of content as a way to gauge the individuals and a list that would encompass every single thing that customer’s interest and ultimately guide the customer to the point exists, plus some things that we don’t know to exist, mostly of submitting a deal. because they have yet to be discovered. In the year 1900, it was supposedly postulated by Lord Kelvin, one of the most important Tom Shaw: Social media is very accessible and leads companies physicists of his time, “There is nothing new to be discovered in to believe “posting” is easy and does not require a skill. However, physics now. All that remains is more and more precise to get an ROI on social media, you need to have experts running measurement.” We all now know that it matters not who said it, but your social media … critical experts. Not your closing manager, what we know is that at the time it was said, Albert Einstein was administrative assistant or the person who also runs trade events, working on the formulation of an equation that would change the but an expert dedicated to social media. Here is the recipe: way all mankind understood about the reality that they took so Implement social media pixels; make sure your tracking code for much for granted. Google Analytics is in place; make sure your links from Facebook Ideas are what we must share. Ideas cause change, some for or others use the Google Analytics URL builder to track your good and some not. Ideas help us all. Ideas, when well-thought campaign; use the integrated lead generation forms in the social out, can create new actions and stop others. What we must share channel if they have them built in; and use a phone number you can are ideas that help our referral sources do more, produce more, track across each social channel. create more, impact more and help more. There is nothing more The best way to generating ROI requires these essential items: powerful than ideas and we have an obligation to share them. An expert in organic and paid social media; a content strategy for posting, building credibility and engaging your audience; tracking Geoff Zimpfer: In the absence of branding, you’re left with (utilizing Facebook, LinkedIn and other pixels) that measure the marketing in the same way your competitors do. When you do that, direct impact of investment in campaigns; use Google Analytics or you’re perceived to be the same as everyone else which is a race another analytics suite; use the Google Analytics URL builder to to competing on price. The formula for branding success isn’t track your campaign from your page, your ads and your posts; and simply finding a passion or even a niche. It’s finding the magical use a unique phone numbers to track inbound calls by social intersection of place and space that will give you the best shot at channel. becoming known and successful. Place is a sustainable interest and what you want to be known Geoff Zimpfer: In a recent podcast episode, for. Space is an uncontested or underMortgage Broker Alex McFadyen, “The occupied niche with enough people to Mortgage Pug,” shared how his brand on matter. Your place of sustainable interest social media has grown to the point where he of course is “mortgage,” but within the now receives an average of five inquiries per mortgage industry, can include loan types week from people who have chosen him as like renovation, reverse, FHA, VA, new their lender. There is little to no selling and construction and more. Your space can minimal price resistance. They show up ready “Focusing on niche products can earn you a lot include demographic niches like first-time to move forward with Alex. How does this of money in a short amount of time. Following buyers, veterans, divorcing couples, happen? ROI from social media is not about trends in the marketplace and in the economy, seniors, multi-generational families, single the vanity metrics of “Likes” and “Followers.” parents, investors, first responders and and keeping up with the latest mortgage Even in a content world of online videos, more. The truth is most people are products is important to be able to serve the selfies and Instagram filters, human generalists, leaving opportunity for those trends in the market better than your connection is what people crave. Alex wins who decide to pursue a specific niche clients from his social media presence competition.” place and space. because he demonstrates his knowledge and —Andrew Schrage, Co-Founder & CEO, Another under-occupied space is to makes the experience fun for people which; Money Crashers become the go-to resource for your local creates connection and sharing. The ROI to community and events, creating content measure first on social media is your own highlighting all the benefits of living in your

National Mortgage Professional Magazine Presents …

MORTGAGE MARKETING ROUNDTABLE DISCUSSION 2019 area. You become known through sharing relevant content, having a unique style or point of view. Going all-in on one social media platform is another way to build your brand and grow audience. Being a known authority and establishing thought leadership people will be more likely to trust, recommend and choose you.

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Have you gone to 100 percent digital marketing efforts or do you still use standard old school techniques? Is there a drastic difference between the two? Erica LaCentra: While we have increased our digital marketing efforts at RCN Capital over the past several years, we still rely “Social media is very accessible and leads heavily on more traditional marketing companies to believe ‘posting’ is easy and does techniques, such as print advertising and What marketing methods have you found event sponsorships. I think this is indicative not require a skill. However, to get an ROI on to yield the highest conversion rate? social media, you need to have experts running of the mortgage industry as a whole. I’ve Anna Pambianchi: Search engine found over my time in this industry that our your social media … critical experts.” optimization, e-mail campaigns and face-tospace has been slower to adopt digital —Tom Shaw, Managing Director & Founder, face interaction with folks at events marketing techniques, as well as elevenX Marketing consistently generate the greatest impact. technology in general than most other Video content on social media has also been industries. Even though digital marketing very effective for us. Again, the key to has become a key part of our marketing conversion is to find the perfect balance mix, I find that the pieces we have decided between creating a human connection, and to employ are still behind general digital supporting and nurturing that relationship with various digital touch marketing trends I see in other industries. That being said, I don’t points along the lead journey. However, if your content isn’t foresee any industry transitioning to 100 percent digital marketing relevant and authentic, it doesn’t really matter how it gets efforts anytime soon. While digital marketing has significant delivered–it simply will not resonate. benefits such as ease of tracking, and simple ways to retarget customers and increase brand awareness, digital marketing still has Steven Winokur: I’ve always found measuring ROI and determining its flaws. With the amount of digital advertising that is now conversion rates in the mortgage business an interesting challenge. occurring, it’s not only difficult to stand out from the masses, but Unless you’re in retail originations, there are so many variables that also difficult to try to strike a balance between what is effective can come into play. What I’ve seen work well is simply being a true versus what is intrusive. For the foreseeable future, I see other partner to your referral source. What that means is actively being more traditional forms of marketing being necessary to reach a vested in their success. When they’re successful, you’re broader customer base. successful. So providing tools and resources to help your referral partners grow their business. We provide marketing tools that they Ralph LoVuolo: I have yet to become totally digital in my can use to promote themselves. We send them leads. We assist marketing, but I see my obligation to serve all my present and with their presentations to their referral sources. We have found potential clients in a way that will engage them as they want to that to be one of the best marketing methods to yield a conversion engage. When I walk by a table at a trade show and see three rate. people sitting with their smartphones in their hand, necks bent forward, silent, with fingers on a screen, I knew I had to become Geoff Zimpfer: I’ve met lenders who succeed with Facebook Ads, more digital than I am. It was a great effort not to stop to ask what online content, Zillow leads and Google Pay-Per-Click ads. Every they were doing individually, but this I know for sure: They were not day, lenders get referrals from agents, their sphere of influence, engaging each other. being active in their local communities and with past clients. Everything works, but not everything works equally well all the time. Anna Pambianchi: We use an effective combination of both digital What works in one market may completely fail in another market. marketing and traditional tactics. With everyone’s inbox filling up What gets results for one person may not be the right activity for these days, there is still something to be said for the occasional another. direct mail piece. And to go one step further, our President Laura However, I do believe that certain principles and strategies can Brandao sits down every morning and handwrites note cards to have success in many different markets if they are applied in the clients, thanking them for their business or congratulating them on right way. Principles don’t change, tactics do. a closed loan. This personal touch goes a long way and can never According to the National Association of Realtors, 89 percent of be replaced by an e-mail. That being said, techniques like targeted buyers use a Realtor. That means agents are a primary source of e-mails with relevant content, social media interaction and high intent, buyer leads. In my experience, convenient online education and training interviewing over 100 of America’s top opportunities, help to maintain the producing loan originators, agent referrals is connection once it’s been established. consistently ranked at the top of their list. Additionally, teaching agent classes is a top Andrew Schrage: A decade ago, digital of the funnel, high conversion method for marketing still hadn’t truly immersed itself acquiring and converting agents to send in the mortgage industry, so at that time, buyer referrals. we were in favor of non-digital marketing “New technologies like quality video on a Loan Officer Andy Passmore, with Security cellphone can allow originators to compete efforts. Obviously, things have changed Federal Bank in Atlanta, ignited his leads since then in terms of marketing. on a level with larger competitors. Being from agents. He hosted three agent classes Now, we are not 100 percent reliant on able to send quick simple videos to partners in three months. From those three classes, social media marketing efforts, but we do and referral sources will make marketing he was in front of 135 agents, had 30 faceuse them. That said, we still use tools like that much more effective.” to-face agent meetings, received 12 buyer cold calling and other non-digital related referrals and closed $1.2 million in loans. —Steven Winokur, Chief Marketing Officer, strategies. We’ve also had a lot of success When done correctly, teaching agent classes Angel Oak Companies with a referral program. Sure, a mortgage is puts you in the power position, scales your generally a once in a lifetime deal, but reach, expedites trust and stimulates getting current customers to recommend referrals from agents. family and friends is truly effective.

National Mortgage Professional Magazine Presents …

MORTGAGE MARKETING ROUNDTABLE DISCUSSION 2019 Moreover, consider that the client might want to refinance their loan in a few years. They may want to learn about things like a cashout refi and other products that most mortgage companies offer. There are a myriad of other situations where a mortgage professional might be needed further on down the road past the initial writing of the original mortgage. So there still exists a true opportunity to use non-digital marketing strategies to grow your business, especially in the long-term. In a nutshell, I have done both and still vacillate between the two as a way to keep trying different things to find what works at that moment in that market. Personally, I’m in a shift back to old school techniques of late.

“ROI from social media is not about the vanity metrics of ‘Likes’ and ‘Followers.’ Even in a content world of online videos, selfies and Instagram filters, human connection is what people crave.”

everyone I meet as the red-headed stepchild, the way to find a job. That idea is the thought that most people are assuming is correct, and it is terribly wrong. There is a power in LinkedIn, that when discovered by the masses will change the way we all do business, find information, engage with those we want to engage with, find out secrets and grow our businesses beyond our imagination.

The AMC Guide

Lenders need Appraisal Management Companies partners that are in sync with their borrowers’ overall customer experience. When doing that, each lender finds different needs such as technology integration, quality of reporting, size of appraiser network, ease of ordering and so on. We created this guide to allow a handful of select AMCs to share their story about why their lender clients love to work with them.

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Don’t Miss Our June 2019 Edition The State of Appraisals and Valuation, also ...

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Andrew Schrage: Digital may dominate, but you should also continue to investigate —Geoff Zimpfer, National Sales Trainer & Coach, other previously mentioned forms of Movement Mortgage/Founder, advertising, as they’re nowhere near dead. Mortgage Marketing Institute You should also monitor your results based on the fact that more of your strategy will probably be digital. Google Analytics is a Tom Shaw: Is there a drastic difference great tool. You should also consider between the two? Marketing requires many touches (high investing in a marketing team or take more time for yourself to frequency) with an audience to be effective. We see digital as a lowdevote to advertising your business. Embrace digital and leverage it cost, reliable and measurable strategy to reach and acquire to the best of your advantage. Online applications and approvals customers. It can be controlled and managed well to a daily, weekly would be a good place to start. Become highly involved in social or monthly budget. Audiences are mobile and at their desktops, media too, whether it’s the mainstays like Facebook and Twitter or digital should always be a major component of your strategy. other sites like Instagram and Pinterest. Create and maintain a Offline techniques are fantastic when used with digital techniques stellar Web site that is easily viewed from PCs, Macs and mobile to improve marketing campaigns. There are limitations, such as the devices, and throw in a blog where you can showcase your more substantial investment and commitment (lack of control) that a experience which will make potential customers more likely to trust marketer must commit and plan. Offline strategies can enhance and you. further expand a marketing strategy with branding or activation into the customer’s work not offered by digital. However, the break point Steven Winokur: I think technology and personalization can take when starting offline is cost, amount of production required and marketing efforts to the next level. Technology has allowed timing to market for small businesses. Digital offers many options, mortgage professionals to take more control over their own control and an accelerated go to market approach. marketing. New technologies like quality video on a cellphone can Since there is not “one way to manage” your marketing, start with allow originators to compete on a level with larger competitors. your strengths and move from there. Your best success in Being able to send quick simple videos to partners and referral marketing starts with knowing your business and working with sources will make marketing that much more effective. For example, marketing partners that understand your company and the best promoting product updates or pricing changes via a quick video marketing opportunities that fit your company strategy. directed at the referral partner stands out more than the typical email blast. Developing additional ways to personalize copy or Is there anything on the horizon that will assist mortgage messaging to a narrow audience will increase results. The concept professionals in taking their marketing efforts to the next level? of personalization has been a topic in the marketing world for a Ralph LoVuolo: The most powerful marketing tool in the known while now. Combining it with new tools and technologies can only environment that we live in is LinkedIn. It is seen by almost drive increased success for mortgage professionals.

Addressing Post-Housing Crisis Issues

Housing Counselors Can Help Independent Mortgage Professionals BY PAM MARRON nyone in the mortgage business sees the benefit and problems that come with good and bad credit, the focal deciding point for a mortgage. Assisting clients with correction of credit issues, many that were prominent during the housing crisis, is a primary service that housing counselors can offer to mortgage professionals. On May 19, 2016, I was appointed to the first HUD Housing Counseling Federal Advisory Committee under HUD Secretary Julian Castro. At that time, I knew very little about housing counseling. At the first committee meeting, we heard from a variety of panelists on the state of HUD housing counseling. One of the panelists was the counsel for the National Foundation for Consumer Credit, an organization that specializes in assisting consumers with deeper credit issues in addition to housing counseling. This connection with the NFCC resulted in a pilot program with Navicore Solutions, an NFCC partner and national housing counseling agency, who had the capability of running clients through the Fannie Mae automated underwriting system, where credit issues that are not visible on the face of a credit report show up in automated findings. Navicore worked on a process that could assist LOs and consumers to see if past short sale credit would show up in Fannie Mae findings upfront and fix this with a workaround before these clients made a new home purchase. But frantic calls continued from affected clients and

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lenders who were stunned by continued loan denials in both Fannie Mae and Freddie Mac and this required immediate help for clients about to lose a contract. There was no time to refer these clients to Navicore for prepurchase help. The Fannie Mae fix had to be done immediately, as for Freddie Mac loans, there is no fix. Two things were learned: 1. Loan originators were not running past short sellers through automated systems upfront because clients were past the required four-year wait and no issues were evident on the credit report; and 2. Most loans were run through the AUS by processors and underwriters, not LOs, and the AUS submission was done later in the process. When it was learned that the foreclosure code was also being erroneously applied to loan modifications and deeds in lieu, this prompted an HCFAC committee member to become involved and we made a Webinar that was presented through the National Housing Resource Center (NHRC), an organization that provides education to the housing counseling industry, to alert counselors to contact likely affected consumers to get preapproved by a lender through the Fannie Mae automated system ahead of a contract. Further, we put together a powerful panel to present at the HUD HCFAC committee that included the director of the National Consumer Reporting Association who showed how erroneous foreclosure code

could be found through Meridian Link, the NFCC counsel who explained that credit counseling is not credit repair and how deep credit counseling goes, and an attorney from one of the largest servicing companies who was drilling down on the erroneous foreclosure code for past short sale credit issue. We took this issue to the Federal Housing Finance Agency and then back to the office of U.S. Sen. Bill Nelson who was the driving force behind the CFPB and Fannie Mae workaround. Because of these connections, we were able to discuss the continued foreclosure code problem with the Consumer Data industry Association, TransUnion, Equifax and Experian. We knew where the erroneous data was coming from and all were alerted with proof of our findings. But getting correction takes time. So, a pilot program to connect local housing counselors with independent MLOs was started to provide more in-depth credit help for clients. NFCC partner agencies were sought out and Navicore could be the agency to start with nationally. Tampa Bay CDC, located in Western Florida, would be the pilot housing counseling agency and they were already working with a handful of clients. Assessing available downpayment assistance programs (DPA) for clients was added, as

wholesalers have started providing competitive DPA programs to the independent MLO industry. We are currently working on a grid that merges ALL available DPA programs for assessment by housing counselors for referred clients. There has also been an increase in the number of bank MLO’s moving to the independent MLO side of business. Banks pay for housing counseling services with Community Reinvestment Act funds, but independent MLO’s don’t have these funds. A plan where consumers who need counseling can pay for services upfront but receive a credit towards closing costs for counseling services paid upfront is in the works. This assures that MLOs, whether working at a bank that provides CRA funds or as an independent MLO, can equally provide their clients with counseling benefits. This pilot is intended to grow needed housing counseling services that ALL mortgage professionals can use for their clients who are working towards homeownership. Realizing the value of the housing counseling industry and its worth to the mortgage industry was a lesson learned by being a member of the HUD HCFAC Committee for the last three years, and it has been an honor to be part of this Committee.

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.

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No M ell you did it again. And you seem to keep doing it and I keep getting annoyed and it doesn’t seem to matter. I don’t understand why you don’t “get it,” but my thoughts and feelings are definitely being ignored to the point that I’m soon going to explode. I’ve done videos, written articles and spoken to many of your minions who tell me there is nothing they can do. So maybe this article will get to at least one of you. I just returned from the NAMMBA Connect Conference in Atlanta. This event came hot on the heels of attending at the MBA Regional Conference in Atlantic City. I met a great number of people, both those who stand behind the tables and those who walk around, trying to figure out what’s going on behind the tables. Then there are the companies who take center stage and have games and golf, and popcorn and bag clips, and notebooks and free pictures of people with famous names and drinks and free tix to their parties coming later in the day, and more. And now I have more than 250 new PENS! Colors galore, most of them with medium point, black, soft grips, orange with white letters, white with orange letters soft rubber at the top (to do what?, I don’t yet know), silver, and blue of many shades. But pens, oh my God, the pens! And the people behind the tables are begging us, “Please take more pens … it’s okay! We’ll just have to pack them up after the showcase anyway, so take whatever you want. Give them to your families and friends and neighbors.” I’m guessing someone is thinking that this is good. Well you’re not paying attention, not yet! So, the cats out of the bag. I’m directing this article at the marketing people at every company who send junk to every single event I attend and as yet don’t see the benefit they could bring to the industry if they only realized one thing. Marketing people are

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The

Mortgage

Godfather

More Pens! supposed to assist the sales department to bring in business. I’m not sure what is being taught to people in college today who are earning the title of a BA or BS Marketing Degree, but they need to rethink the curriculum. If marketing people are trying to get their companies known, trying to serve the various departments in their company, maybe they need to stop copying what other companies are doing. When an MLO is walking around the expo floor, thinking about their business, thinking as to what their company is giving away, what are they thinking? Does anyone in the marketing department ever ask their salespeople what they think of pens or popcorn or golf or drinks or who knows what? I’m betting that if the executives in the C-Suite were asked what they think of the presentation that is made to the public, they might have a new idea that will help their company become memorable. YES, memorable, the hit of the show, the company that is proving, even though their products are pretty much the same as every other company, the mantra that is being fostered on them by the managers who tell them to stress the incredible “service” that they have as proven by the latest loan approval that took only ten days from application to clear to close. Oh please, if there is a Heaven above, please stop trying to get people to believe that the company you work at is the greatest to ever be created. Start to think outside the universe as you know it. As much as I’ve tried to get you to see what is going on is not what you see but what you don’t see. First, I have to ask you, do you, yes you … the marketing people … do you see what you do as being the face of the company when the salespeople are not where they are supposed to be? Every coach tries to get their clients to see as many of their prospects as often as possible. But because of the real possibility of being told “No!,” those salespeople don’t go where they should go. Salespeople have fears, that is a given. It pervades every industry, worldwide. If they didn’t have the fears that they do possess, they would make up

fears. If they had supreme confidence in their abilities they would want the world to know about them. But because of something that might have happened to them when they were children, or because some boss tore them apart and didn’t know how to put them back together so they could be productive human beings, or a life partner who gets in their heads every day or some other unknown reason, most salespeople can’t deal with the real world. So, it all falls on you! You have to replace them when they don’t do what they are supposed to do, which is to help the prospective referral source do better today than they did yesterday, by even just one percent a day. Just give a reminder to the referral source that if they do this or that, they can be better at their job than they were the day before. So as the wise old man who has seen this industry develop for the past 60-plus years, I find it my job to help you see what your people are not telling you, mostly because you don’t ask them what they think of this new revolutionary thing that is staring them in the face. Let’s examine what I’m talking about as a new wave series of thoughts. Look way into the future and see what you can do for the people who your people are trying to get to do business with them. If the future is already here, at least in your mind, then so much the better. And yes, that is what I believe. Now I want to build on this more. Even the most conservative thinking person believes they have a responsibility to their fellow man. I’m part of that belief system. My logic then leads me to believe that progressive thinkers believe this even more. Insofar as business is concerned, I believe that we should be helping our referral sources do more business, be better at what they profess to do, grow both intellectually and emotionally. The only way for the marketing people to do that is to be where the salesperson is not or when the salesperson is not there. The marketing people have the responsibility to do what their sales staff is not doing. It is the responsibility of management to

BY RALPH LOVUOLO SR.

think of ways to get this done and instruct their marketing people to come up with an idea that fulfills these responsibilities. I have an idea that works with this concept perfectly … If you would take the book that I wrote and ask me to make the cover to show the book as a gift from your company, meant to help the Realtors do more business, you’ll be fulfilling your responsibility. You’ll be seeing thru the universe of pen filled ideas and have one that will give your sales people something that only a very few will see as unique and helpful. Are you ready to stand up and help your salespeople? Nobody says NO!

And if you’re a wholesaler or correspondent lender, I have another book that is meant for MLO’s. this book will help the MLO do more, be more effective and also fulfill your responsibility. Your salespeople will love you. Nobody says NO! The cover of each book will show as a gift from your company. The back over with tell who your company is and why you are a valuable source of information to the marketplace you serve. You’ll also be able to stop buying pens. And people will say YES to your people because they are bringing them something of real value. No more pens!! No more pens!! No more pens!! No more pens!!

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.

Angel Oak Sets Records in Q1

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In the first quarter 2019, Angel Oak Companies (Angel Oak Home Loans and Angel Oak Mortgage Solutions) reported originating a record $563 million. This represents an astounding 82 percent increase over non-QM originations in Q1 2018, which had previously set a record. The Angel Oak lending platform and its affiliates also hired 70 new employees during Q1 2019, bringing its total workforce to 675. “We have clearly become the industry leader in non-QM lending and couldn’t be more excited about the growth and success of Angel Oak,” said Steven Schwalb, managing partner of the Angel Oak lending platform. “Despite a challenging mortgage lending environment, Angel Oak has consistently set new records for growth. That growth is a credit to both our products and our people. In fact, we’re continuing to hire top talent because we see continued growth in non-QM for years to come.” In 2018, Angel Oak doubled its originations of non-qualified mortgages from $1.1 billion to $2.2 billion and increased its head count by 53 percent. The company is now set to reach even greater heights, with lending units, Angel Oak Home Loans and Angel Oak Mortgage Solutions, reacting to accommodate the company’s impressive growth: Angel Oak Home Loans has added eight new branches, bringing its total

branch number to 32, servicing 18 states. Angel Oak Mortgage Solutions also improved and expanded its Dallas facility, tripling the size of the previous space to now offer capacity for more than 100 staff members, and also increased the size of its Atlanta headquarters. “We’re setting the standard in the non-QM space by hiring only the best people and providing only the highest-quality products,” said Mike Fierman, co-CEO of Angel Oak Companies. “Our expertise, unique structure and commitment to quality set Angel Oak apart from the competition. All non-QM loans originated by Angel Oak are also securitized by Angel Oak. As the issuer, investor and owner, we must be very careful to select only high-quality loans. Our constant focus on quality defines us and will always guide our mission.” Class Valuation Acquires Houston AMC

Class Valuation, a Troy, Mich.based real estate collateral valuation and appraisal management company, has acquired appraisal management company (AMC) Janus Valuation & Compliance, based in Houston. The financial terms of the transaction were not disclosed. John Passero, who founded Janus in 2008, will join Class Valuation as a regional chief operating officer focused on the Southwest and Rocky Mountain states. Class Valuation CEO and Partner Mike Detwiler stated that the company will seek out other acquisitions to expand its geographic focus.

“On a national level, Class Valuation has always been committed to providing the highest levels of customer service,” Detwiler said. “Janus has done the same on a regional level. With the mortgage and valuation industry seeing major changes, we must align with companies that share our same core values.” Flagstar Recognized as a Fannie Mae STAR Performer for Fourth Consecutive Year

Flagstar Bank has been named a Fannie Mae Servicer Total Achievement and Rewards (STAR) Performer for 2018 in recognition of the company’s outstanding performance and best practices in the General Servicing Category. This marks the fourth consecutive year Flagstar has received this prestigious recognition. The STAR Program recognizes top-performing mortgage servicers for assisting homeowners, aiding the housing recovery, and demonstrating excellence in mortgage servicing. “The fact that Flagstar has won this award for four consecutive years shows that attention to detail, operational excellence, and a passion for customer service are embedded in our servicing culture,” said Lee Smith, chief operating officer of Flagstar Bank. “The work of our servicing and customer engagement teams is not just outstanding, but it’s consistently outstanding, and this certainty around quality and service is the cornerstone of our success. I could not be more proud of the

team and what they’ve accomplished yet again.” Freedom Mortgage Recognized by Fannie Mae for Servicing Performance

Freedom Mortgage Corporation has received Fannie Mae’s Servicer Total Achievement and Rewards (STAR) Award for the second consecutive year in General Servicing and for the first year in Solution Delivery. The STAR Program is Fannie Mae’s performance management and recognition program that acknowledges companies that demonstrate excellence in mortgage servicing and their ability to assist homeowners. Servicers are measured on the basis of their general servicing performance, roll rates, retention, liquidation efficiency, six-month modification performance and timeline management compared against the performance of other Fannie Mae loans with similar credit characteristics. Freedom Mortgage has grown its servicing business by more than 150 percent over the past two years alone. “We are thrilled to be recognized by Fannie Mae as a STAR Performer for the second consecutive year,” said Freedom Mortgage President Stanley C. Middleman. “At Freedom, we are committed to constantly improve our business processes to create great mortgage experiences for our customers and surpass their expectations. I’m extremely proud of our entire servicing team, who deserve the credit for this recognition by Fannie Mae.”

NAMB+ Welcomes Starrex Companies as an Endorsed Provider

NAMB+ Inc., the for-profit marketing and communications subsidiary of NAMB, has announced that Starrex International Ltd., provider of innovative service solutions to mortgage banks and purchasers of residential real estate, has become a NAMB+ Endorsed Provider. Through this partnership, NAMB members will benefit from two Starrex International firms, Property Interlink, a national appraisal management partner, and MFI Credit Solutions, a fullservice lending information company. Starrex continues to grow the offerings of its subsidiaries, Property Interlink and MFI Credit Solutions, and seeks opportunities to further expand to meet the needs of mortgage lenders nationwide. Property Interlink streamlines the appraisal process with cutting-edge analytic tools, extensive market knowledge, and an experienced team committed to compliance and communication. MFI Credit Solutions also helps

streamline mortgage lending by providing a one-stop solution for collecting buyer information, reports, and verifications. “Starrex International is pleased to work with NAMB+ to provide innovative service solutions to mortgage banks and purchasers of residential real estate throughout the U.S.” said Alison Mitchell, national sales manager for Property Interlink. “By partnering with NAMB+, we are looking to foster our relationships with brokers, as well as help them increase their business.” 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 delighted to welcome the Starrex International companies of Property Interlink and MFI Credit Solutions as Endorsed Providers,” said NAMB+ President Mike DeSantis. “Our

NAMB members will truly benefit from the array of products and services that Starrex and its subsidiaries provide.” HomeStreet Sells 50 Home Loan Center Offices to Homebridge Financial

HomeStreet Inc., the Seattleheadquartered parent company of HomeStreet Bank, has announced the sale of 50 of the bank’s singlefamily mortgage origination offices to Homebridge Financial Services, headquartered in Woodbridge, N.J. Homebridge has agreed to a purchase price of the net book value of the acquired assets plus a premium, as well as the assumption of certain home loan center and fulfillment office lease obligations. In the event Homebridge realizes a certain level of loan originations for the 12 months following the closing of the transaction, HomeStreet will be entitled to an additional payment of $1 million at that time. Homebridge will also make employment offers to HomeStreet’s related personnel. HomeStreet Bank also announced that it has sold a significant portion of its single-

family mortgage servicing rights related to single-family mortgage loans held by or pooled in securities guaranteed by Fannie Mae and Freddie Mac with aggregate unpaid principal balances of approximately $9.9 billion to New Residential Mortgage LLC, and has also sold of mortgage servicing rights related to single family mortgage loans pooled in Ginnie Mae mortgage-backed securities (MBS) with aggregate unpaid principal balances of approximately $4.4 billion to PennyMac Loan Services LLC. “The sale of the home loan center-based mortgage origination business and related servicing rights will significantly reduce the size and scope of HomeStreet’s single family mortgage operation,” said Mark K. Mason, HomeStreet chairman, president and CEO. “These transactions align with our long-term strategic goal of reducing our reliance on this cyclical and volatile earnings stream and increasing our reliance on the more stable earnings from our Commercial and Consumer banking business. We believe our network of office locations and origination personnel complements the existing continued on page 38

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States Adopting Electronic Notarizations By Gavin T. Ales

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s electronic closings of all flavors continue to grow in popularity, states are keeping up with the trend with legislation that enables use of this technology. States have been increasing support for electronic and remote notarizations in the last decade. Virginia pioneered the use of remote notarizations by use of two-way audio-visual communication, which can be used to conduct a real estate settlement, back in 2011. Since then, the Uniform Law Commission drafted and published a Revised Uniform Law on Notarial Acts (RULNA), which includes rules supporting electronic notarizations, then amended it in 2018 to support remote notarizations. Several states passed the electronic notary version of RULNA and many are moving to adopt the amended version which includes support for remote notaries. RULNA also ensures compliance with the federal ESIGN Act, as well as the UETA and the Uniform Real Property Electronic Recording Act. While existing laws at both the federal and state level have technically allowed an electronic closing for many years, through the federal ESIGN Act and state Uniform Electronic Transaction Act (UETA) laws, notary laws had continued to reflect a paper-oriented world. In just the past couple years, states have appeared at a tipping point for embracing electronic and remote notarizations. Texas passed its own version of a remote notary bill in 2017, followed by Michigan, Nevada, Indiana and Tennessee. Washington and Colorado had RULNA legislation become effective in 2018. Minnesota and Vermont have previously passed bills become effective this year, which brought the total to 11 states that passed RULNA legislation supporting electronic notarizations. Since the beginning of 2019, several more states have added themselves to the lists above. Idaho, Kentucky, Utah, North Dakota and South Dakota have all passed their own remote notary bills this year. Idaho passed SB 1111 on March 21, 2019 to add to and amend existing law to provide for remotely located individuals and the use of two-way audio-visual communication technology to satisfy the presence requirement. Idaho’s bill is effective Jan. 1, 2020. South Dakota enacted HB 1272 on March 29, 2019, also to provide for remote notarizations that is effective July 1, 2019. Kentucky passed SB 114 on March 25, 2019, enacting new laws regarding remote notarizations. SB 114 is effective on Jan. 1, 2020. North Dakota enacted SB 1110 to be effective Aug. 1, 2019. Utah passed HB 52 to modify existing Notaries Public Reform Act to now allow for remote notarizations. Utah’s bill is effective Nov. 1, 2019. It would appear the industry is now getting the support it needs to implement fully electronic closings, which help lenders to better serve customer needs and provide easier settlements without paper and wet signatures.

Gavin T. Ales is Chief Compliance Officer with Torrance, Calif.-based DocMagic Inc. He may be reached by phone at (800) 649-1362, ext. 6446 or e-mail Gavin@DocMagic.com.

SPONSORED EDITORIAL

new to market

continued from page 13

Approval Protection gives buyers, agents and sellers added confidence in Guild’s preapproval process. If the company issues a preliminary credit approval from underwriting, but is unable to close the homebuyer’s transaction, Guild will pay up to $1,000 for inspections, appraisals or relocation expenses incurred for the home purchase. The company will also reimburse up to $5,000 in earnest money deposits if Guild is unable to close the loan. Finally, under Homebuyer Express with 17 Day Closing Guarantee, Guild will pay qualifying customers $500 toward closing costs if delays solely by the company prevent the loan from closing on time, in 17 days or more. “When shopping for a home, customers want to know that they’re working with partners they can trust throughout the process,” said Mary Ann McGarry, president and chief executive officer of Guild Mortgage. “Homebuyer Protection gives customers the flexibility to shop with confidence knowing their rate is protected. Once it’s time to purchase the home, buyers can trust Guild to close their loan on time. If we can’t, we’ll cover some of their costs. This extra protection will help more people find the home they want and the right loan to help them get there.” AAG Debuts New Wholesale Partner Program

American Advisors Group (AAG) has launched AAG & You, Better Together program, a new endeavor designed to increase the Orange, Calif.-based reverse mortgage provider’s investment in its wholesale partner relationships. According to the company, the new program offers an online portal that will provide AAG’s more than 700 approved wholesale partners, including mortgage brokers, with access to product-specific information and tools to help grow their reverse mortgage lending businesses. The portal contains customizable content to help AAG’s partners stay updated on business trends impacting this sector, including webinars, industry news and

senior based-statistics. “With the launch of AAG & You, Better Together, wholesale brokers across the country now have greater access to AAG’s industry leading sales and marketing support and best-inclass training,” said Jesse Allen, AAG executive vice president of alternative distribution. Ginnie Mae Launches Platinum Product for HECM Securities

Ginnie Mae has announced that investors in Ginnie Mae mortgage securities backed by Home Equity Conversion Mortgages (HECMs) can now take advantage of a new Platinum securities execution—the Home Equity Conversion Mortgages Backed Security (HMBS) Platinum securitization channel. The HMBS option eases the administrative costs of holding multiple (and typically smaller) HMBS securities and, in doing so, enhances the liquidity of the overall market for Ginnie Mae HMBS. The new Platinum HMBS option is the latest evolution in the modernization of Ginnie Mae’s Platinum securities program, which has been adding investorfocused functionality since 2017. Today, investors can create Platinum products using fixed-rate MBS (15- and 30-year mortgages); Weighted Average Coupon (WAC) Adjustable Rate Mortgage (ARM) and Jumbo Only Fixed mortgages. The market adoption of the modernized process for Platinum products has been strong: prior to modernization, fiscal year 2017 production of Platinum securities with fixed-rate collateral was only $7.88 billion. Following modernization and automation inside the new MyGinnieMae portal, volume grew to more than $20 billion in fiscal year 2018. “This announcement is another important step on the path to continually modernize operations at Ginnie Mae to benefit MBS investors and Issuers,” said John Daugherty, SVP, office of securities operations. “Making it simpler for investors to manage their portfolio of Ginnie Mae MBS and HMBS, while enhancing the liquidity of their Ginnie Mae investments, supports our mission to foster a strong secondary continued on page 49

By Jonathan Foxx, Ph.D., MBA 33

Protecting Children’s Online Privacy Web sites to a notice of how they collect, use, and/or disclose personal information from children. l With certain exceptions, notify parents that they wish to collect information from their children and obtain parental consent before collecting, using, and/or disclosing the information. l Not condition a child’s participation in online activities on the provision of more personal information than is reasonably necessary to participate in the activity. l Allow parents the opportunity to review and/or have their children’s information deleted from the operator’s database and to prohibit further collection from the child. l Establish procedures to protect the confidentiality, security and integrity of personal information they collect from children. The rules focus on operators of Web sites or online services specifically directed at children, but they also reach operators of general audience Websites (in other words, non-child-directed sites). A Web site is not considered directed at

children simply because it refers or links to other Web sites or online service(s) directed to children. [64 Federal Register 59893 (11/03/99)]. Nevertheless, operators of general audience Web sites are liable for violating the COPPA rules only if they: l Have actual knowledge that postings are being made by children under 13, or l Fail to delete any personal information before it is made public and also fail to delete it from their records. If a general audience Web site has a distinct children’s “portion” or “area,” then the operator is required to provide the protections of the FTC regulation for visitors to that portion of the site. The rule allows general audience Web sites with children’s areas to post the required link to the children’s privacy policy at the home page of the children’s area rather than the home page of the overall site. [Idem at 59894]. There are a host of rules continued on page 39

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Answer Compliance with the Children’s Online Privacy Protection Act (COPPA) can be challenging. Although you can conduct a Web site compliance review on your own, be careful, because there are a host of regulations that apply, of which COPPA is but one. All institutions that operate Web sites (or even Web pages) designed for use by children should be aware that the Federal Trade Commission adopted regulations to implement COPPA requirements. [15 USC §?6501 et

seq.; 16 CFR Part 312. COPPA provides that the federal banking agencies are responsible for implementing its provisions regarding financial institutions. See 15 USC §?6505(b)]. You may be thinking COPPA does not apply to you, since you are a financial institution. But when you publish your Web site, children may also have access to it. There’s a reason why certain disclosures qualify the applicant by affirming that he or she is 18 years of age or older. A financial institution does not usually operate a Web site directed at children for financial purposes; however, COPPA requires Web site operators, including banks and other financial institutions, to comply with the regulations adopted by the FTC to implement COPPA, but leaves enforcement up to the federal banking regulators. Operators of Web sites or online services directed to children or operators who have actual knowledge that the person from whom they seek information is a child must: l Post prominent links on their

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Question We were recently cited for not having our Web site COPPA compliant. We offered our customers a chance to start a savings plan for their children’s college education and the children would be given access to see how their savings plan was growing. We are trying to do a review for COPPA compliance, but it seems to be somewhat of a daunting task. What are some of the COPPA requirements that we should be considering?

Why Your Buyers and A e are bombarded each and every day with commercials, e-mails and ads from mortgage companies and real estate agents. Just turn on the radio, watch TV or go to your favorite Web site or social media platform and there are these ads. The challenge is that we are all saying the same things to the same people and the result is that we all sound alike. This leads consumers to feel that we are all, in fact, the same. Yesterday, when I arrived home I decided to test this out

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and made pretend I was a consumer. I turned on the TV to watch the news and there they were three different mortgage company ads. Then I decided to just check my Facebook, Instagram and LinkedIn pages and guess what … more ads and videos for agents and mortgage companies. The “Head of Lettuce Syndrome” I have coined the phrase “Head of Lettuce Syndrome,” which simply means we are all viewed as a commodity by the general public, and unfortunately, by real estate agents as well. Think about this for a second … you go into a grocery store and you see two heads of lettuce. Both look green and fresh and they

are sitting right next to each other. One has sticker for .89 cents and one has a sticker for .99 cents. Which one would do you choose? The answer of course is obvious, but this is the dilemma we must all deal with each and every day. Compound this with the fact that there are more of us now in the industry since the crash, and we are all facing inventory shortages in every market and shrinking profit margins. Let’s get back to basics first I hate to be the one to break this to you, but a fancy script or marketing piece will not fix this issue. Instead, you have to understand some very basic

concepts that I will share with you here. First, people must know, like and trust you before they will work with you This may sound very basic, but it’s true. People need to feel like they know who you are and like you. They must also feel like they can trust you. The issue is that most ads are simply trying to tell people to call someone they don’t know, or go online and reveal all of your personal information before a relationship is even established. The better way to establish this bond of “Knowing, Liking and Trusting” would be to do a series of online informational videos. Write a short book or

Agents Don’t Trust You

By Brian Sacks

report that provides information. Record a seminar or Webinar for first-time homebuyers. Your ads should be sending buyers to this type of information before you even ask them to call you. To say it a bit differently, buy them a drink first or go on a date before you ask them for a commitment.

collecting reviews from your agents and your customers. Take a video of you with them at closing. Ask them to do a video for you of their experience or answer a quick survey. In fact, in my book 48 Proven Ways to Close More Loans, I dedicated four of the strategies just to this idea.

Second, no one believes anything you say about yourself. All of the ads I referenced above did not pass the average consumers BS meter. You know we all have one right? People don’t believe us and when I say people, I mean consumers and agents or other professionals. But they will believe what others like them say about you. Take a minute here and digest that. Go ahead right now and start

Third, success in business and in life is all about who is chasing who Here’s a reality that most of us simply ignore and I am not sure why. When you chase business, you lose control. Whoever is being chased has more power than the person doing the chasing. Yet, I consistently see gurus in our industry sharing tactics that are all very creative ways for you and I to go chase business. The

reality is that your job is to attract business to you. To go even further, your job as an originator is to create more demand for your services than you even have time for. That leads to growth and stability in your income and production goals. Position yourself as an expert

and teacher. Then, go ahead and teach and provide valuable information everywhere you can. Stop advertising and start attracting by providing value. When you do this your levels of “Knowing, Trusting and Liking” will immediately increase, as consumers will seek you out and your business will grow!

Brian Sacks is a branch manager with Homebridge Financial in Owings Mills, Md. He has been originating for 35 years, with career closings of $1.5 billion-plus and 5,833 transactions. Brian is also the creator of the Top Originator Secrets Blog and has recently published an originator success manual on the 48 Proven Ways to Immediately Grow Your Production. You can learn more at https://48WaysBook.com.

T H E

B E C K W I T H

B L O G

The Missing Piece! Why people and companies fail to succeed By Christine Beckwith

am amazed at how many people I’ve worked with, spoken to and have managed throughout my career who are unable to connect the dots on the basis of truly ONE missing piece—Execution. I see it, over and over, with both companies and individuals. I see people who show up and learn, start a solid new plan, companies who investigate issues, spend money to correct and they get almost to the point of seeing results and boom … they fail to execute.

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What is “Execution?” Well, defined by Wikipedia it is: “The carrying out of or putting into effect of a plan, order, or course of action: “he was fascinated by the entire operation and it’s execution. Synonyms: Implementation, carrying out, accomplishment, performance.” So, this seems like such a nobrainer statement, but I absolutely believe it is what sets apart successful individuals and the ones seeing their dreams elude them. Lacking execution There’s an obvious pattern that makes those who cannot execute stand out … these people are stuck in this realm: l They have great ideas, but never implement any or few. l They implement a plan, but haven’t considered the steps, milestones and tasks necessary to move in a direction that delivers results. l They implement their plan, but never measure activity. l They implement, but don’t analyze the results. l They implement, take steps, measure them, but then do not know how to tweak a plan if it’s failing. These are just some of the things people lack that causes failure of a plan. What is even more scary to me is how many managers are trusted with these responsibilities and fail horribly at delivering results.

I am even more stunned to see companies not measuring the results of their own managers. Are YOU executing on your business plan this year? It takes work to ensure that you are actually “executing” and creating a workforce that does this, is key to any firm’s success. Here are some tips for implementing an “Executionary Army” of people: l Always ask for a timeline and an expected result for every idea/plan that is implemented. l Mark your calendar “Due From” the owner of the result, and on the day it’s due, ask for the results report. If the owner is unprepared, move the date over by one day with expected reports due the following say. l Discuss the results of the plan with the owner. Are they delivering the desired results? l When results are great, celebrate them with the entire team affected. This is also a common missed practice. l After you do the above consistently, your team will become conditioned to always implement, measure, discuss and deliver results. What are we paying for? In a world wrought with a ton of fanfare over simply “showing up” what exactly are you delivering? In short, if you are going to one of the below, what are the intended results: l A regular meeting l A conference l A convention l An annual meeting During weekly meetings I have with sales and service employees, I often see them heading to meetings and conventions, with the great ones going with plans in place and with intended results. I see them pre-planning what they want to accomplish, setting goals on how many connections, meetings and contacts they want to make. But, that’s Conference

Attendance 101, right? So, if you aren’t doing that to begin with, you aren’t even in the game. That said, the real success goes to the professionals leaving these events and holding the “Executional Follow-Up.” That means when they return to their sales desks, they are then performing the following tasks: l Creating a list of all contacts made, sorting them by relevance, priority contact and intended message. l Making the proper contact to each. l Having a plan for a “drip” contact with your live contact for a period with intended results. l Measuring conversion of leads to sales. l Adding sales ROI to marketing conversion. Flushing out the fakes! One of the most difficult things any company leader must do is taking someone with high activity and deciding if they are actually executing. What exactly defines GREAT execution results verses POOR results? Let’s break it down … Great execution equals: l Results are proven and consistent. l Steps taken on plans are delivering profits. l Sales are being made and being adhered to (not falling apart or out of the pipeline). l They see a plan all the way through to the end, until money is made off the actual results. Poor execution equals: l They show up to meetings, take copious notes, but don’t deliver results after the fact. l They go to conventions, take lots of pictures, post a ton on social media, but make no sales. l They do not see plans through to execution. l They never talk about milestones, results or reporting. l There is no profit as a result of their efforts.

The vibe of an “Executioner” We know who delivers results … we remember them, see them celebrated and when we get employees like that, we never let them go! I have been lucky enough to have stayed in a seat of senior leadership for a dozen years for both last two jobs culminating 25 years of my career. People have called me “lucky” to not have pond-hopped like so many, and while I appreciate that folks may think I got lucky, I would argue I made my own luck. I stayed in my seat and delivered meaningful results, and moreover, got awesome results from those people I managed. In fact, I got results from people who never consistently before were able to deliver results until they learned the tactics of great execution. The aforementioned traits can be accomplished by anyone who focuses on the fact that “Execution” is the final step of a plan. A plan is not a plan unless this vital section exists. This may seem like basic 101 and a truly a no-brainer, but if you show me a mortgage or real estate firm, I will show you how 80 percent of the employees are failing in this area. In fact, in life, I will show you that we as people are failing at this. Three vital questions to succeed in any plan In summarizing and in hopefully helping you change your trajectory towards greater success, I challenge you to ask these three questions every time you work on a project of any kind: l What is the desired outcome in numbers and in profit? l What are the steps I need to perform to reach the desired outcome? l What are my milestones, who do I report my progress to and when will I know that the plan was a success? Why do I succeed? People ask me all the time how I consistently won contests when the continued on page 39

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Homebridge business well. We thank those employees that are part of the Transaction for their hard work and contribution to our success of converting a troubled thrift into a leading West Coast, major market footprint, regional bank.”

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OpenClose Integrates Its LOS With CRM From Continuity Programs OpenClose has announced that it has completed an integration with Continuity Programs Inc.’s cloud-based MyCRMDashboard.com customer relationship management (CRM) software. This new interface provides OpenClose’s LenderAssist LOS customers the ability to seamlessly interact with Continuity Programs’ platform. “We constantly look for opportunities to help our customers do business faster, smarter and cheaper including arming loan officers with cuttingedge tools to close more deals,” said Vince Furey, CRO at OpenClose. “We are pleased to offer our customers Continuity Programs’ robust and modern CRM solution to help mortgage origination teams achieve greater sales success.” Continuity Programs’ MyCRMDashboard.com is a turnkey solution that centralizes contacts in an organized, easilyaccessible fashion. It gives Loan Officers powerful tools to generate, track and convert high quality borrower leads, while keeping in touch with prospects, customers and referral partners. The CRM is feature-rich, automating often mundane and time-consuming daily tasks, while delivering the analytics and reporting that enables lenders to assess performance with KPIs, monitor customer satisfaction, improve the borrower experience and increase customer retention. “Integrating with MyCRMDashboard.com empowers loan officers with many easy-to-use tools to make them as successful as possible amid tough marketplace conditions,” said Kirk King, president of Continuity Programs. “Integrating our mortgage CRM software with OpenClose’s LOS makes it easier for lenders to seamlessly extend this functionality to their loan officers via LenderAssist.”

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Total Expert Partners With Blend

Total Expert has announced its integration enhancement with Blend, a provider of digital workflows. The enhancement will allow bi-directional data exchange, empowering Loan Officers to foster deeper customer relationships by delivering personalized messaging throughout the loan application process. “Our partnership with Total Expert brings end-to-end efficiency to digital lending, arming loan officers with powerful data and asset information to nurture the borrower along the journey and ultimately leverage that data to cross-sell into other areas within the bank,” said Ram Woo, head of business development at Blend. “We are excited to take our partnership with Total Expert to the next level and continue to look for ways to enhance the digital lending process.” Loan officers leveraging both the Total Expert MOS and Blend will have a 360-degree view of the borrower so they can see the exact spot they left off on a loan application, prompting the automatic deployment of relevant messaging to maximize the number of applications that get to closing. By tailoring the messages to the exact needs of the borrower, loan officers earn the trust of the consumer, thus turning a one-time transaction into a customer for life. “This enhancement to our existing integration will be pivotal in the way relationship managers interact with the borrower– empowering them to anticipate the needs of the consumer and become their financial partner for life,” said Total Expert founder and chief executive officer Joe Welu. “We are proud to partner with Blend to deliver a solution that meets the rising needs of consumers–positioning relationship managers for success today and in the future.”

order and receive Plaid’s Asset Reports from the Floify point-ofsale solution, simply by having consumers connect their bank account through Plaid. Once integrated with Floify, Plaid can be configured to automatically trigger a request for borrower asset reports upon the conversion of a prospect into a loan file, or manually trigger from an active loan file. After a Plaid request is initiated, borrowers are prompted to select their financial institution and enter their credentials via Plaid’s front-end module. Upon successful login, the borrower’s asset report is securely transmitted and synced to their corresponding loan file, which saves valuable time in the loan origination process. “Floify is thrilled to partner with Plaid as we continue to use our automation technology to improve the mortgage process for loan originators and borrowers,” said Dave Sims, chief executive officer of Floify. “Our integration with Plaid further simplifies and accelerates loan origination for mortgage professionals who combine the power of Floify point-of-sale system with Plaid’s Day 1 Certainty-approved digital asset verification functionality.” Novus Home Mortgage Launched

Panorama Mortgage Group has launched Novus Home Mortgage as a new brand, focusing on conventional, government and specialty mortgages for the purchase and refinance markets. Novus Home Mortgage is licensed to conduct business in more than 35 states. Eric Egenhoefer, founder and former chief executive of Waterstone Mortgage, was named chief executive officer of the new endeavor, which joins other Panorama brands including Alterra Home Loans, Legacy Home Loans and Inspiro Financial. “All of the Panorama Mortgage Group brands benefit from the economies of scale it provides,” Egenhoefer said. “In total, we have over 550 employees at Floify Partners With Plaid to Panorama. Each brand can Automate the Collection of leverage the same human Borrower Asset Reports resources team, the same accounting department and a host of other shared resources. We can lower secondary market, Floify has joined forces with Plaid, finance, accounting and IT support costs because of scale. a partnership that will enable The resources, platforms, and lenders and loan originators to

technologies that are available to 500-600 employees are far better than those of a smaller company.” Fintech Reali Acquires Online Originator Lenda

Reali, a San Mateo, Calif.-based real estate technology company, has acquired Lenda, an online direct mortgage lender. The financial terms of the transaction were not disclosed. As part of this acquisition, Lenda’s proprietary technology will be incorporated into Reali’s existing platform under the banner Reali Loans. The new Reali Loans platform is being promoted being user-friendly and absent of origination fees, with competitive rates, fast approvals and speedy closing times. Reali Loans will include refinance loans with fixed or variable rates, jumbo loans up to $3 million, as well as VA and FHAbacked mortgages. “Our mission and vision is to simplify the home buying and selling experience for our customers by creating transparency and offering multiple services including home loans, to minimize the amount of complexity in today’s antiqued real estate process,” said Amit Haller, cofounder and CEO of Reali. “This acquisition of Lenda into Reali Loans accelerates our company roadmap with goals to vertically integrate all parts of the home buying transaction in the near future and realize our vision for a reimagined real estate experience.” RoundPoint Mortgage Servicing Selected as Subservicer by Reliant Bank

RoundPoint Mortgage Servicing has been selected as a subservicing partner for Reliant Bank. “Reliant Bank has experienced tremendous growth and success, and we are delighted to have been selected as its subservicing partner,” said Allen Price, senior vice president of business development for RoundPoint. “This relationship helps Reliant excel at providing comprehensive mortgage solutions while RoundPoint focuses on what we do best – expertly performing our subservicing responsibilities.” continued on page 46

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competitor changed, when the metrics of the competition had changed, when year after year, the market had changed and of course the length of the contest changed. The answer was simple … I outworked my competition. I worked when they rested, and they rested often. I also strategically understood that if I measured what my guys were doing, they would do it more and harder. We celebrated our milestone victories, I made the numbers public, so the winners were proud and the bottom dwellers were motivated to get their asses off the floor of production. Finally, I won because, quite frankly, I am an executioner. I

understand that showing up is only part of the plan and taking notes is another part, that in the end, it’s what I actually pull across the finish line that will define my success. Famous words of wisdom about execution … l “A really great talent finds it’s happiness in execution.”— Johann Wolfgang von Goethe l “Execution is the ability to mesh strategy with reality, align people with the goals and achieve the promised results.”—Larry Bossidy l “Many imagine. Few execute.”— CompetitiveEveryday.com

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 chief operating officer of 20/20 Vision for Success Coaching and Consulting, a decorated, sought after and award-winning leader. Christine may be reached by e-mail at Christine@VisionYourSuccess.net.

compliance matters

NCRA 27th Annual Conference Tuesday-Thursday, November 5-7 The DeSoto Hotel 15 East Liberty • Savannah, Ga.

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Jonathan Foxx, Ph.D., MBA, is chairman and managing director of Lenders Compliance Group, the first and only full-service, mortgage risk management firm in the United States, specializing exclusively in outsourced mortgage compliance and offering a suite of services in residential mortgage banking for banks and non-banks. To ask a question or request compliance support, e-mail Compliance@LendersComplianceGroup.com.

Preliminary Schedule of Events Subject to change

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

Tuesday, November 5 8:00 a.m.-4:00 p.m. User and Sales Meetings 6:00 p.m.-7:30 p.m. Welcome Reception and Marketplace

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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site or online service of their information collection practices with regard to children, describing how the operator collects, uses, and discloses the information. Obtain, through reasonable efforts and with limited exceptions, verifiable parental consent prior to the collection, use, or disclosure of personal information from children. Provide a parent, upon request, with the means to review and have deleted the personal information collected from his or her child and to refuse to permit its further use or maintenance. Limit the collection of personal information for a child’s online participation in a game, prize offer, or other activity to information reasonably necessary for the activity. Establish and maintain reasonable procedures to protect the confidentiality, security, and integrity of the personal information collected from children.

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involving COPPA. For instance, operators of child-directed sites must give notice and obtain parental consent in order to give a child an e-mail account. Operators of general audience sites would only be required to provide notice and obtain parental consent if registration or other information reveals the person seeking the email account is a child. In August 2009, the Office of the Comptroller of the Currency (OCC) revised its Comptroller’s Manual to include COPPA procedures that previously had appeared only in banking bulletins. So, expect regulators to be including COPPA compliance in regulatory examinations. The Controller’s Manual explains that the regulation requires an operator of a Web site or online service directed to a child, or any operator who has actual knowledge that it is collecting or maintaining personal information from a child, to: l Provide a clear, complete, and understandably written notice to the parent and on the Web

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Spring Homebuying Trends and Military Servicemembers By Michael Greenwood

whether or not economic headwinds will offset slowing prices and lower interest rates, servicemembers continue their work as normal. Lack of affordability may curb homebuying in cities According to the U.S. Department of Housing & Urban Development (HUD), families who pay more than 30 percent of their income for housing are considered cost-burdened, and may have difficulty buying other necessities. While those in lowincome areas are more likely to be cost-burdened, home prices in metropolitan areas have skyrocketed across the board, resulting in a housing affordability crisis that has spread to many middle-class families as well. At the same time, wages have been improving. Over the last year, real hourly average earnings are up two percent, and with only a single month seeing a decrease, we should expect the trend to continue throughout the spring. Unfortunately, however, the consumer price index has been increasing at roughly the same click, at 1.5 percent over the last year, meaning that increased wages are barely outpacing rising costs. Clearly, wage growth won’t mitigate affordability issues in the housing market. The news isn’t quite as bad for servicemembers. Annual pay adjustments in the military have been comparatively generous (though servicemembers are still

woefully underpaid), and the 2019 basic pay raise was a healthy 2.6 percent. While an extra percent of income is nothing to scoff at, it’s still not enough to mitigate the fact that home prices are rising at a rate of more than five percent in major cities. These factors may have an outsized effect on servicemembers, depending on where they are looking to purchase their homes. In urban areas, where servicemembers may be working nearby, they’re likely to feel the effects of higher housing costs. On the other hand, servicemembers returning to rural areas or retiring from the military to new jobs outside of large cities may benefit from comparatively lower housing costs. In other words, it’s important to take into consideration the geography and general affordability of areas when considering how to approach servicemember clients. A generational shift in homebuying as Millennials rise to prominence Over the last two years, homeownership for Americans between the ages of 28 and 31 has increased from 27 percent to 47 percent, a massive jump. It seems that the Millennial generation has finally started to shift from renting to owning, and the trend is expected to continue. In the next 10 years they are forecasted to purchase continued on page 49

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Price rises are expected to slow, while mortgage rates decrease Most forecasts predict that U.S. housing prices will continue to rise, but at a slower pace. U.S. home values are expected to outpace inflation and pay growth, but not to the degree that it has over the last several years. Home prices are expected to rise 3.7 percent in 2019, down from 4.7 percent just a few months ago. Analysts suggest that the housing market turnover has already peaked, so we should expect price increases to continue to soften.

At the same time, the Fed has recently announced that it would get back into the bond-buying business, which could put downward pressure on the industry’s low mortgage rates–a boon to potential homebuyers. The average rate on a 30-year fixed mortgage, which was already around the 4.40 percent mark, fell further to 4.34 percent– the lowest in over a year and 19 basis points lower than a year ago. To put that into perspective, a 30-year fixed rate on a $300,000 mortgage would mean that every 25 basis points results in a $50 reduction on a monthly payment. With rates down nearly 75 basis points from November, that’s $150 a month in savings. Forecasters warn that the good news is offset by projections of a general downturn in the economy. According to Danielle Hale, chief economist at Realtor.com, “if concerns about the economic outlook rattle consumer and homebuyer confidence, it could offset the benefit of lower mortgage rates.” This places servicemembers in a unique position, as military jobs have often been described as being “recession proof.” Indeed, the military economy often tends to hum along regardless of the state of the American economy. Military spending tends to depend upon political factors more than fiscal ones, so the economic outlook of servicemembers is largely independent of broader economic trends. While real estate agents and mortgage originators are calculating

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pring is here … the trees are sprouting leaves and birds are chirping. It’s a beautiful season, and for many, it feels like the true start of the year. As such, real estate professionals are in search of industry trends and outlooks that provide insight on how they should approach the season. Spring is one of the most important seasons for homebuying as consumers, including U.S. servicemembers and veterans, look to make a fresh start. There are some important trends to keep in mind for real estate agents and mortgage originators. Understanding the positive and negative real estate trends should help real estate agents weather the storm, allowing for business to blossom this homebuying season.

Are Millennial for a Mortgage L fter years of hype, the Millennials are here. More than one-third–the largest demographic cohort–of homebuyers are Millennials, and a growing number of loan originators are as well. While a new generation of borrowers is entering the market, originators have been experiencing a massive decline in refinancing. The Mortgage Bankers Association (MBA) predicts a year-over-year drop of more than $60B in refinance transactions (that might be slightly high thanks to recent drops in mortgage rates), with a slight gain in purchase originations, further reflecting the market’s shift. The days of easy refinance business are over, and we’re back to the basics of mortgage lending–the hard work of building purchase business. Although, if rates remain this low–as they reached a 10-year low at the end of March, refinances could increase. It’s estimated that nearly five million people could benefit from these lower rates, if they continue. It is yet to be determined if this is a shortlived opportunity for borrowers. While mortgage companies are scrambling to change processes and systems to provide a more modern customer experience that pleases the Millennial consumer, it is worth considering what particular tools, strengths and weaknesses younger originators bring to the table and how lenders can help prepare them for success. Getting diverse thoughts and perspectives from people with different backgrounds is valuable, so included here are the opinions and thoughts of Castle & Cooke Mortgage Chief Executive Officer and President Adam Thorpe (AThorpe@CastleCookeMortgag e.com), and a bona fide

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Millennial, Castle & Cooke Mortgage Lending Manager Taylor Madsen (TMadsen@CastleCookeMortga ge.com). Interestingly, while both agreed and disagreed about the relative strengths and weaknesses of Millennial employees, there is firm agreement that Millennials are indeed capable of forging a successful mortgage industry career. What particular skills does the average Millennial bring to the table? Adam Thorpe: Lenders employing Millennial loan originators have no doubt already noticed one of the biggest strengths they all seem to have in common–a familiarity and comfort level with new forms of communication, including social media. While face-to-face and phone contact with borrowers and leads will always be a critical tool of the originator, leveraging the power and reach of Facebook, Twitter and Instagram is crucial to

success in 2019 and beyond. Taylor Madsen: The average Millennial seeks and prioritizes time flexibility. They are used to adapting and having a schedule that eschews the typical none-to-five grind. Their flexibility extends beyond working hours, and includes an innate ability to self-teach, particularly when it comes to new technology. We’ve seen this high adaptability characteristic play out in the roll out of a new mobile app at our company.

With any new tech tool or new system, training is typically a critical part of the onboarding process; however, we found that many of our Millennial employees did not need the training, and seamlessly adopted the technology. Do Millennials have difficulty picking up traditional mortgage banking/sales skills? Adam Thorpe: Millennials may have the edge over more “seasoned” originators when it comes to technology, adaptation and social media savvy, but their strength in electronic communication may actually mask a weakness in face-to-face interactions. In 20 years, most real estate/mortgage transaction

als Well-Suited Lending Career? may be done electronically, with no in-person meetings; however, the current average real estate agent is 54-yearsold, and much of the agent business is done by older, experienced agents who thrive on referrals and repeat business. That means that while they will certainly utilize new technologies and social media, face-to-face or otherwise direct interaction is still the most primary type of communication they utilize. We’ve found that many Millennials struggle with the high stress nature of direct rejection, and while this likely is something that is remedied by experience,

it is also something lenders can assist with by providing specialized training. Additionally, team leaders should also make sure their originators are getting out to networking, social, or other face-to-face events that will help with their interpersonal skills. The long-term thinking and effort that adds up to a successful career may not come naturally, but the alwayschanging nature of the industry does provide Millennials a great opportunity to use their desire for rapid results to improve their companies and the home buying process. How loans are originated is indeed changing– from online applications, the ubiquity of apps and Fannie Mae’s Day 1 Certainty innovations, to the use of third-

“One of the unique traits that are common to many Millennial employees is their ability to think differently, creatively, and decidedly outside of the box.” —Adam Thorpe, Chief Executive Officer and President, Castle & Cooke Mortgage

parties to deliver documents electronically–and Millennials are well-positioned to leverage their talents to build a great career in the mortgage industry. Taylor Madsen: I agree, and I think that

growing up with a focus on social media, e-mail and text messaging prevents many Millennials from experiencing and overcoming the pain of rejection. Many of us are simply not used to face-to-face rejection. I’ve been doing this since I was 16 and was licensed at 18, and I’ve found that it’s one thing being rejected via e-mail, but a lot of Millennials struggle with faceto-face rejection. High-stress situations can be the Achilles Heel for Millennials starting out in the mortgage/real estate industry. How should companies be reaching out to/onboarding new Millennial employees? Adam Thorpe: Our company has a multi-layered approach, starting with our effort to use more technology to attract talent, through LinkedIn professional networking services, job sites, drip campaigns and targeted Facebook ads. With apologies to famed bank robber Willie Sutton, if you want to attract Millennials, you must go where they are. We are using the platforms we think Millennials will be on to stir interest in our company, and we try to back that up by ensuring we have the appropriate apps, the ability to easily apply online, and encouraging originators to use social media and blogging continued on page 47

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l Jacqueline Weed, VP of operations and correspondent lending with Reliant Bank, said, “We chose RoundPoint Mortgage Servicing because of its best-inclass systems, customer-centric operating model, and robust reporting tools. We look forward to deepening our relationship with RoundPoint as we continue to expand our mortgage product offerings.” Vendorly Partners With BitSight on Reducing Cybersecurity Risk

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Vendorly has announced an agreement with BitSight, making Vendorly an authorized reseller of BitSight Security Ratings, which can help provide Vendorly customers with the ability to scale their vendor risk management programs, regardless of their current security posture. The BitSight Security Rating Platform generates objective, quantitative measurements on a company’s security performance to produce daily security ratings ranging from 250 to 900. BitSight analyzes externally observable security incidents and practices, and applies sophisticated algorithms to produce a rating. With more than 59,000 vendors actively managed on the Vendorly platform, the addition of BitSight showcases Vendorly’s commitment to raising the standards of thirdparty risk management, with a focus on strategic partnerships to help mitigate risk throughout the vendor lifecycle. “For many organizations, cybersecurity and threat assessments continue to be an esoteric concept,” said Jim Vaca, senior vice president of Vendorly. “Organizations are often not capable of keeping up with the rapidly changing threat environment, let alone understanding the actual security performance of their critical vendors. BitSight has created objective metrics and tools that help identify cyber risk in a way that is understandable for organizations.” Matt Cherian, VP of strategic partnerships for BitSight, said, “We are thrilled to work alongside Vendorly to help financial institutions address critical cyber risk challenges. With companies increasingly outsourcing key

business functions, managing vendor risk is critical to protecting a company’s most important assets. BitSight delivers the data and analytics necessary to make informed decisions.”

FormFree Named Newest Member of the Financial Data Exchange (FDX) l

FormFree has announced that it has joined the Financial Data Exchange (FDX), a non-profit group that promotes information sharing and security standards for the financial sector. FormFree brings over a decade of experience in protecting the safety and integrity of sensitive consumer data to the FDX. FDX is committed to enhancing consumer controls of financial data. Its members span the financial services ecosystem and include financial institutions, data aggregators, fintechs and banking core processors. Other recent new members include American Express, Blend, FirstBank, Fiserv, Goldman Sachs, Navy Federal Credit Union, Quovo and Trust Stamp. Together, the members of FDX are implementing technical standards that make it easier and safer for consumers to use their financial data with third parties. FormFree works with banks, mortgage lenders and other financial services providers to streamline the loan origination process and provide better intelligence on borrowers’ ability to repay loans. “Ensuring the security and accuracy of consumer data has always been FormFree’s top priority,” said FormFree Founder and Chief Executive Officer Brent Chandler. “Partnering with FDX is a valuable opportunity to connect with like-minded leaders in the financial sector to develop and grow industry acceptance of unified standards for data security and access.” Mortgage professionals to watch l LenderClose has announced the addition of three new employees, each of whom joins the Des Moines-based fintech startup from out of state, as Software Engineers Russ Panula and Radha Talluri join from Minnesota and Missouri,

respectively, while Relationship Manager Sam Faust joins from Mississippi. Primary Residential Mortgage Inc. (PRMI) has named Steven Sless reverse division manager in Maryland. Planet Home Lending has hired Jennifer Folk as senior vice president of national operations and operations support, where she will be responsible for creating scalable operations to support the growth of the company’s distributed retail sales channel. The National Association of Realtors (NAR) has announced the addition of Alicia Bailey to its integrated marketing communications team to enhance its member and external communications. Bailey will become NAR’s director of creative and marketing strategy, and report to Susan Welter, NAR’s vice president of creative and content strategy. Mid America Mortgage has announced the addition of Kerry Webb as executive managing director of business development. Jeffrey A. Tischler has joined Old Republic Title as senior vice president, Old Republic National Title Insurance Company (ORNTIC), Technology Solutions. Jeff has leadership responsibilities for Pavaso and RamQuest, which are part of Old Republic Title Tech Companies. LERETA LLC has selected Jory Beech as senior tax operations manager, where she will support the company’s tax service operations with tactical and strategic process engineering. Memphis-based Evolve Bank & Trust has recruited Lance Lemoine as president of its mortgage division. Veritex Community Bank, an $8 billion-asset Dallas-based institution, has hired Russell Anderson as senior vice president, mortgage company president. LoanLogics, a Trevose, Pa.based provider of loan quality technology for mortgage manufacturing and loan acquisition, has named President and Chief Operating Officer Bill Neville as its new CEO, replacing former CEO Brian Fitzpatrick. Castle & Cooke Mortgage has opened a new branch in Boise, Idaho, to be managed by mortgage industry veteran Suzi Boyle. WFG National Title Insurance Company (WFG) has

announced that title industry executive Julie Curlen will lead WFG’s New York agency team out of the company’s new midtown Manhattan office. Gateway Mortgage Group has announced that Joe Siegel has been named chief banking officer, where he will be responsible for executive oversight of the company’s commercial, consumer, and specialty lending activities in addition to retail banking services. Churchill Mortgage has named Tim Broadhurst senior vice president of loan officer development and senior home loan specialist. Guaranteed Rate Affinity has named John Porath divisional manager of mortgage lending for Guaranteed Rate Affinity’s new Southeast Division. Porath will manage Florida, Georgia, South Carolina and North Carolina out of the Southeast Operation Center, based in Clearwater, Fla. The Federal Housing Finance Agency (FHFA) has announced that Sheila M. Greenwood will be joining its leadership team as the Director of External Relations, where she will oversee the Office of Congressional Affairs and Communications, including stakeholder outreach. MortgageRight has promoted Alvaro Moreira to the role of director of strategic growth, where he will be responsible for locating and recruiting new loan originators and branch managers. The Independent Community Bankers of America (ICBA) has announced the promotion of Sherry Larson to senior vice president and controller. MorVest Capital LLC has announced the addition of Managing Director Larry Charbonneau to lead mergers and acquisitions.

Your turn National Mortgage Professional Magazine invites its readers to submit any information, events, passages, promotions, personal or professional occurrences that seem appropriate and/or other pertinent data to the attention of: Heard on the Street/Mortgage Professionals to Watch column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

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

millennials well-suited

to drive business. We are very supportive of all social media outlets for marketing and have the compliant technology that allows loan officers to communicate via text. In fact, borrowers can do the entire loan application process online. Bottom line … we have the technology and support to interest both Millennial borrowers and employees and I think that’s important for companies to have when reaching out. Taylor Madsen: Our company does indeed have a very aggressive recruiting department that uses technology to target Millennial employees. From a Millennial employee’s point of view, the company’s willingness to support innovative thinking, new ideas/technologies, and all the necessary training makes it an extremely attractive option for younger, forward-thinking professionals.

my own in real-time. I’ve often found it more difficult to follow instructions or read how to use technology versus watching how to use it or trying it out for myself. We’re finding that when it comes to both employees and borrowers, Millennials would rather watch a how-to video on YouTube than sit through a training session or read an overwrought manual. Having this flexible nature and earlyadopter ability is a true advantage.

Do Millennials have particular experiences that prepare them for a mortgage lending career? Adam Thorpe: We’ve found that many Millennials do not. Much of their experience doesn’t necessarily translate to a mortgage lending career. They want everything so quickly. For Millennials who

—Taylor Madsen, Lending Manager, Castle & Cooke Mortgage

are driven by instant gratification, this can be a dose of cold reality, particularly considering that many of the real estate agents they work with are older and value face-to-face communication over the remote and impersonal nature of modern communications. It’s a long haul of building relationships and referral sources and database management. Taylor Madsen: For many Millennials, mortgage lending isn’t something they’ve aspired to since childhood. It’s not a subject that is typically studied in school or featured at job fairs, and unless they have family or friends in the business, it may be a world completely unknown to them. The one area of expertise that works to their advantage is on the technology front. The mortgage industry is changing. How loans are going to be originated is changing— through online applications, using apps, Day 1 Certainty, third-party documents delivered electronically, etc. Millennials that are tech-savvy have some big advantages when it comes to understanding and utilizing mortgage technology. What is the single most important asset that Millennials have? Adam Thorpe: One of the unique traits that are common to many Millennial employees is their ability to think differently, creatively, and decidedly outside of the box. That is one reason why research routinely finds that Millennials are drawn to startups and the start-up culture, and tend to put purpose,

mission, cause, and community above job stability, career and even higher wages. Being comfortable in the startup mindset and culture also indicates that many Millennials are willing to look for creative solutions, and lenders would be wise to see this as a huge advantage, and an essential ingredient to a successful company. This is particularly crucial in a year that has mortgage lenders watching their bottom line closer than ever. Taylor Madsen: While their technological skills and adaptive thinking are remarkable, I think that what truly sets Millennials apart is their ability to self-teach. Having this ability opens all kinds of possibilities for both the Millennial LO and their lender. It gives the lender the confidence to experiment with new systems and innovative solutions, knowing that they have team members who are capable of quickly learning how to navigate new programs. Looking forward, we both agree that while many Millennials will find it challenging to adapt to the culture, norms, and demands of a successful mortgage career, they absolutely have the tools necessary to thrive. But success will depend on their willingness to combine their tech savvy with “old school” methods, and companies must be willing to offer flexibility. Companies will also need to prove that they are future-focused and care about the needs of both their more established and senior team members in order to lure and retain top Millennial talent.

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Do Millennials have an easier time relating to/working with Millennial borrowers? Adam Thorpe: Yes, of course they have an advantage. But the problem is that in the early stages of their career, they don’t get exposed to as many opportunities to work with other Millennials, because they don’t have the referral sources. But if a Millennial LO has a borrower who wants to do everything electronically, that gives them a huge advantage and they can relate to that client much more naturally. Taylor Madsen: Yes and no. While Millennials will likely have an easier time getting to know someone of the same age cohort (they can discuss their favorite 80s TV show or band), they may actually find that they aren’t as adaptable to other lifestyles. The polarization in today’s culture tends to create a selfsegregating effect, and if someone doesn’t have the same lifestyle or personality it can be difficult to establish rapport with that person. Experience and exposure to new people is crucial to having an empathetic attitude that makes interpersonal communications more successful, regardless of the differences in background.

“For many Millennials, mortgage lending isn’t something they’ve aspired to since childhood. It’s not a subject that is typically studied in school or featured at job fairs, and unless they have family or friends in the business, it may be a world completely unknown to them.”

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What about the ability to adapt to new technologies? Does that give them an advantage over more seasoned employees? Adam Thorpe: The Millennial originator would be quick to point out, correctly, that one of the characteristics that most benefits lenders is their ability to adapt to both new technologies and business strategies. It shouldn’t come as a surprise that the generation that grew up with home computers, game consoles and (eventually) the Internet, would be perfectly positioned to lead their company’s efforts to revamp outdated systems, or add new enterprise-level software. Millennials will be the early adopters, the ones who lead the way, and are the least likely to resist change. Research even suggests that playing video games may actually have some positive impact on an individual’s ability to adapt. Taylor Madsen: Absolutely. Anytime new technology rolls out, there is always a meeting and demonstration for more seasoned employees. For example, when we had new technology rolled out, I was a user. Within a two-hour demo, I figured out how to use it on

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Independent Mortgage Originators By Andy W. Harris, CRMS

HomeLend USA LLC / Bob DeYoung HomeLendUSA.com Company NMLS#: 1747787 / Personal NMLS#: 139365

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his month, National Mortgage Professional Magazine had a chance to sit down and chat with Bob DeYoung of HomeLend USA LLC in Michigan. Bob discussed many facets of the mortgage industry, in particular, making the jump from the mortgage banking side to becoming a full-time mortgage broker.

Bob, tell me a little about yourself and your career. Bob DeYoung: I am married to the love of my life, Brandy (we’ve been together for 24 years), we have two children and a Shih Tzu. I am a 2006 Xinnix Mortgage Academy graduate. I have been in the mortgage industry for 13-plus years. I have successfully closed more than 1,200 purchase transactions, and I truly love what I do!

have always been involved with educating my real estate agent partners so they can better serve their clients. 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? Bob DeYoung: Wow, I have much more control over the process. As a banker, I had to wait and wait for others to do their part so we could continue with the process. I was actually reprimanded for asking for a closing disclosure on Friday afternoon (at 2:30 p.m.) for a Tuesday closing. Now I am able to make this happen without all of the begging. What would you say are your best forms of marketing today to generate new business? Bob DeYoung: Social media … no question. Social media allows you to stay in front of your real estate agents so you stay top of mind. I also prefer the old school relationship approach. Get your real estate agent partners to know you, like you and trust you ... plus you make them money!

I understand you are a mortgage broker now after previously working as a mortgage banker. What else motivated you to make the change? Bob DeYoung: I had a local mortgage broker reach out and try to recruit me. I have a friend that has been a mortgage broker for more than three years, so the thought has always been in the back of my mind. For comparison, I asked him to share some pricing with me based upon scenarios that I was working on. He was able to destroy my rates and did it with lower fees! Well, you cannot un-see what you have seen ... so I decided to make the switch. What would you say so far are the biggest differences you’ve experienced coming from the retail side? Bob DeYoung: Super-fast processing, better rates, better terms and fantastic technology. Oh, now I can get a closing disclosure out in about 10-15 minutes instead of 24-48 hours. How would you compare pricing when compared to the mortgage banker world? Bob DeYoung: Broker pricing is fantastic compared to the banker world. What are you seeing in your local market in terms of trends, inventory, and consumer/real estate agent mortgage education? Bob DeYoung: Inventory is starting to increase. I feel that the Michigan spring market is about to explode! As a trusted advisor, I

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.

spring homebuying trends

Michael Greenwood is president of NewDay. Prior to NewDay, Michael worked for PNC Mortgage as the mortgage servicing executive and Executive Vice President. He provided oversight for the Miamisburg, Ohio and Jacksonville, Fla. campuses, and was responsible for managing PNC’s $130 billion mortgage servicing portfolio and directing approximately 2,500 associates. Michael has been a speaker/moderator at seminars sponsored by the Mortgage Bankers Association (MBA), is a past member of the Mortgage Advisory Board for Black Knight Financial Services and has served on various committees for both Fannie Mae and Freddie Mac.

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mortgage market for government mortgage loans, helping borrowers across the U.S, obtain the lowest mortgage rates an efficient market can offer.” New HomeVal Designed to Shorten HELOC Closing Times

Premium Title, a provider of title and escrow services has teamed with Springhouse, a valuation solutions and appraisal management company, to rollout HomeVal, a home equity line of credit (HELOC) hybrid solution designed to provide combined title search and valuation data for lenders. According to the companies, the consolidation of title and valuation information into a single report can shorten the closing time on a HELOC loan, which benefits lenders that often absorb consumer closing costs due to market demands on small balance transactions. HomeVal is being offered as a cost-effective way to satisfy title and valuation requirements at a lower cost compared to traditional title insurance policies and property appraisal reports. “Receiving title search and valuation data in one report, at a low-cost and in a timely manner, helps lenders to be more efficient in underwriting HELOC loans,” said Ben Hall, vice president at Premium Title. “We continue to listen to and anticipate the challenges that arise for our customers.” Plaza Home Mortgage Expands Non-QM Program and Releases Hybrid eClosing Option

Plaza Home Mortgage Inc. is expanding its Solutions Non-QM program with the goal of enabling brokers and correspondent lenders to qualify more non-traditional borrowers. According to the San Diegobased company, the Solutions Non-QM program is available on a delegated or non-delegated basis, with goal of accommodating nontraditional borrowers. The

expanded program will now provide loan amounts up to $2,500,000, flexible income documentation including 12- and 24-month full doc, or 12- and 24month personal and business bank statements, and debt-to-income ratios up to 50 percent. The program will also offer interest-only options, as well as expanded eligibility on all document types and lower reserve requirements. Wholesale brokers signed up with Plaza can now send in the bank statements and Plaza will calculate the qualifying income on their behalf prior to loan submission. Plaza Home Mortgage has also launched a new hybrid eClosing option on all conventional Fannie Mae and Freddie Mac loans. The new option allows settlement agents to coordinate directly with borrowers, and offer them the ability to review their closing documents electronically and execute most of the documents online. Only the Note and Security Instrument documents will require a traditional, wet signature at closing, allowing for a much quicker closing process. With the new hybrid eClosing option, borrowers will receive their closing package electronically one to two days before the closing date, allowing them more time to review the documents and ask questions before they get to the closing table. “eClosings are a logical next step on the path to a completely digital mortgage,” said Jeff Leinan, Plaza Home Mortgage’s executive vice president, national wholesale production. “By offering new, digital solutions our clients will see dramatic improvements in the speed and efficiency of the closing process that will enhance their borrower experience.” 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 e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.

n National Mortgage Professional Magazine n MAY 2019

Servicemembers as a steadfast demographic With these trends in mind, how do servicemembers as a whole compare to other demographics? Quite favorably. According to a report by the Consumer Financial Protection Bureau, the delinquency rates for servicemembers have been plummeting. Since 2006, the

delinquency rates for servicemembers using nonprime conventional loans has dropped from about 13 percent to just under two percent. Delinquency rates for prime conventional loans among servicemembers have dropped as well, from around three percent to just over one percent. Clearly, servicemembers are showing themselves to be reliable and dependable borrowers. For an industry that depends so much upon economic trends, having a client base that is able to remain unwavering in the face of such pressures can be an incredible benefit. In fact, it should be noted that servicemembers as a share of first-time buyers have also persisted independently of economic ebbs and flows. From that same report by the CFPB, first-time homebuyers as a share of all mortgages was reduced during the mortgage crisis from 16 percent to 13 percent. During that same period, the share of servicemembers as first-time buyers held steady at 7.3 percent, and subsequently improved to 7.5 percent. Again, the picture that should be painted in the minds of mortgage originators and realtors is one of an imperturbable demographic, one that will be here to stay regardless of the economy, just as they are expected to perform with respect to their military responsibilities. As we look forward to the homebuying season and the pleasure of helping others finance their new homes, let us remember the men and women who do so much for us, whose lives are spent in service so that we may so enjoy this season in peace–our military servicemembers.

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at least 10 million homes. For years, speculators wondered whether Millennials preferred to rent instead of own– it turns out they just lacked the funds. Not only that, Millennials were rightly suspicious of homeownership as a path to wealth thanks to coming of age in the wake of the 2007 subprime mortgage crisis. Millennials are bucking another stereotype as well. It seems they do not prefer the big city nearly as much as was previously speculated. A new report from Ernst and Young shows that Millennials increasingly prefer to live in the suburbs. Part of the reason is no doubt due to cost–large cities are increasingly becoming costprohibitive for many. As Millennials enter the stage of their lives where many of them look to settle down and start a family, it is no surprise they are turning to suburban life. With respect to servicemembers, these trends are even stronger. A report by the National Association of Realtors (NAR) indicates that active servicemember buyers have the youngest median age amongst any homebuyer demographic. They are also the most likely to have children in the home. In other words, you should expect to have more Millennial buyers and more young buyers looking to purchase their first family starter homes this spring.

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LOs Can (and Should) Attend More Closings. But How? By Rick Triola

ceremonies still require participants to be in the same location to complete the transaction. Even when lenders utilize an eClosing platform, the assumption remains that participants will all be gathered around the physical closing table to execute the transaction in person. This is because there are a number of closing documents that require notarization, and up until recently, there was no legally-recognized mechanism for conducting notarial acts remotely. Now that states are passing RON legislation, there is simply no need for transaction participants–LOs included–to conduct the closing ceremony in person. Instead, all parties can meet online in a virtual signing room using the Webcam functionality already present in their cellphone, tablet or computer to complete the closing ceremony remotely. Not only does this bring transaction participants face to face to provide a personal experience, it also

enables direct collaboration on loan documents and spares everyone the time and expense of travelling to a central location. In addition, these types of closings are typically completed in under an hour, allowing borrowers to schedule closings at their convenience. LOs can even opt to join for just the last 10 minutes of every closing, making it much more feasible to attend the majority, if not all, of their borrowers’ closing ceremonies. It’s a tough mortgage market out there … several consecutive quarters of compressed lender margins have made the job market for LOs more competitive than ever. In such a climate, the best defense is a good offense. LOs should consider every opportunity to outperform peers and grow their book of business. Thanks to changes at the state legislative level, LOs’ finally have a viable option for attending more closings and thus increasing their book of referral business.

Rick Triola is founder and CEO of NotaryCam. He began his career in real estate, mortgage and technology as an Oppenheimer investment banker more than 35 years ago. After spending several years in commercial real estate, Rick helped lead one of California’s largest independent escrow companies. He founded eSigning solutions provider Settleware in 1999 and NotaryCam, the pioneering leader in on-demand notarization and mortgage closing solutions, in 2014. He can be reached by e-mail at Rick.Triola@NotaryCam.com.

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Yet despite their best intentions, LOs sometimes lose sight of the fact that, as the capstone of the entire homebuying experience, the closing ceremony is sacred. STRATMOR’s numbers are a good reminder that borrowers take closings seriously, and so should LOs. STRATMOR concluded its report with a simple recommendation: LOs need to attend more closings. If they can’t attend every closing in person, the report says, LOs should take measures to “provide the ‘next closest thing’ to in-person attendance.” Just what that might be, STRATMOR doesn’t say. However, taking a look at state legislative activity regarding real estate may offer a suggestion. To date, 15 states– Idaho, Indiana, Kentucky, Michigan, Minnesota, Montana, North Dakota, Nevada, Ohio, South Dakota, Tennessee, Texas, Utah, Vermont and Virginia–have all passed Remote Online Notarization (RON) legislation that allows (or will soon allow) notaries within those states to conduct notarial acts not just electronically, but remotely for individuals located throughout the U.S. What’s more, as many as 19 states are expected to pass RON legislation within the next year. So what does RON have to do with an LOs’ ability to be present at the closing table? In short … everything. Today’s mortgage closing

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pproximately one year ago, mortgage industry advisory firm STRATMOR Group published data illuminating just how important it is for loan officers (LOs) to attend their closings. The findings got extensive coverage in mortgage and real estate industry news, yet how many LOs actually start showing up for more closings? For those still on the fence about making a change, here’s a reminder of what’s at stake. According to data from MortgageSAT, the LO’s presence at the closing table has a direct impact on borrower satisfaction, as measured by Net Promoter Score (NPS). Assessed by asking customers how likely they are to recommend their lender, NPS quantifies both customer satisfaction and the customer’s potential to become a source of referral business. In a best-case scenario where the closing goes off without a hitch, NPS drops by 11 points when the LO does not attend. If there are hiccups in a loan closing and the LO isn’t there to explain things, NPS plummets 35 points. Furthermore, STRATMOR estimates that LOs could lose anywhere from one-in-10 to onein-three potential business referrals by not attending loan closings. It’s hard to imagine any LO would want to throw away such a precious source of business.

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It’s All About Marketing! Six Ways to Boost Your Business Through Social Media By Sarah DeCiantis e live in a world where people are always online. With cellphones, tablets and computers at our fingertips, it’s easy to stay “plugged in” to your favorite digital outlets–e-mail, social media, blogs and more.

This creates a huge opportunity for mortgage brokers, because one of the most effective ways for businesses to communicate with consumers is through social media. Social plays a critical role in the lives of your borrowers and referral partners, and it’s important you utilize these channels to their fullest potential to grow your business. As a small business owner, you must have current, clear and concise social media channels to help spread the word about what you have to offer. To help you take your business to the next level, here are a few social media tips every mortgage broker should follow. 1. Understand your audience The key to creating any successful marketing communication is knowing who you want to connect with–the same applies to social media. You should have a general sense of what your ideal fan base will look like so you can tailor your page to their wants and needs. In many cases, you’ll want to connect with past clients, potential borrowers and referral partners you’d like to stay in front of. Now that you know who you’re looking for, you need to find where they are online. When it comes to referral partners, business-focused sites like Facebook and LinkedIn will probably be the best place to start. On these sites, you can network, recruit and sell your services with the click of a button. In a recent national survey of real estate agents conducted by UWM, it was clear Facebook is the most widely used social platform for business purposes by real estate professionals, so it’s crucial to have your own business presence there. When it comes to finding borrowers on social media, our research shows Facebook, Instagram, LinkedIn and Twitter (in that order) are the most commonly used platforms for millennial homebuyers and homeowners.

2. Choose your social media channels Deciding which social media platforms your brand has a presence on is just as important as what you choose to post on them. Every channel is slightly different, so you should know what is expected on each of them to decide which are right for you. Your social game plan should align with the amount of time and effort you want to put into your digital marketing strategy. Facebook is a great place to start when entering the social media realm. According to our millennial study from early 2019, 92 percent of current homeowners and 97 percent of future buyers consider Facebook to be their most useful social media platform. With both real estate agents and borrowers on this channel, it’s an effective way to reach a large portion of your target audience. Facebook Business Pages also allow you to display business details, contact info, reviews and more for your followers to easily access. Additionally, Facebook has an array of paid advertising options for those who want to explore them. LinkedIn is a little more business-oriented in nature. This is the perfect place to recruit, network and promote what you have to offer with other mortgage professionals, real estate agents, financial advisors and referral partners. If there are individuals in the industry you want to connect with to grow your business together, you want to be on LinkedIn. For broker-owners, LinkedIn is useful for finding talent to join your team. Instagram is an image and video-based platform. If you take impactful photos at closings, have drone footage of new listings from real estate partners or want to show off your exciting company culture, Instagram is for you. Instagram users love to see real people and places, so if you’d rather post text-based graphics for promotional purposes, consider continued on page 54

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a special focus on ITâ&#x20AC;&#x2122;S ALL ABOUT MARKETING! a special focus on ITâ&#x20AC;&#x2122;S ALL ABOUT MAR

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putting your time and energy into making your other channels shine. Twitter has its place, but it might not be for everyone. While 326 million people use Twitter every month, only 24 percent of U.S. adults use Twitter. Because your target audience is spending their time online elsewhere, you may want to focus on other sites instead. If you feel confident in your ability to send out timely tweets and make a connection with your followers, do it!

a long history with the community, this is the place to tell it. To build your social network, start by asking friends, family and business partners to like or follow your pages. Building a steady social following takes some time and commitment, but the more you talk about it, the more it will grow. Be sure to include links to your social profiles on all promotional assets, including your website, flyers, mailers and even your email signature.

3. Know best practices Consistency is key when building your brand online. When setting up your Business Pages, make sure you synchronize your business name, profile/cover images, and About and Contact information across each channel to make it easy to find you. Fill out all of the main sections of your page, including location details, hours of operation, services provided and specialty areas. If your business has

4. Create content that matters When someone likes your page on Facebook, theyâ&#x20AC;&#x2122;re opting-in to receive information and updates from you and your team. Your goal is to build a social community of borrowers and industry partners who look to you as a thought leader and go-to source for mortgage knowledge. High-performing content comes in all formsâ&#x20AC;&#x201C;text, images,

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LOAN OFFICERS RETAI A L SALES MANA M GERS WHOLESALE ACCOUNT EXECUTIVES

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ÂŠ 2007-2019 Carrington Mortg t gage Servvices, LLC C headquartered at 1600 S. Doug uglass R Rd., Suites 110 & 200A, Anaheim, CA C A 92806. 888-267-0584. NMLS ID #2 #2600. Nationwide Mortg t gag age Licensing ng Sy System t (NMLS) S) Consumer Access website: www.nmlsconsumera access.org r g. All rig i g hts reserved. EQUAL OPPO ORTUNITY EMPLOYER

infographics, memes, video, published articles, etc. Every post should add value for your followers. Sharing home buying and selling tips, busting mortgage myths and educating your audience about the benefits of working with a mortgage broker will be a great start. At UWM, we create a monthly Marketing Calendar that outlines posts for every day of the week to make creating content a breeze for our clients. Whether you post a photo of happy clients at the closing table (be sure to tag them so they can share it to their networks, too), share a great review from a real estate partner or just share pictures of your team giving back to your local communityâ&#x20AC;&#x201C; humanizing your brand and trying to build real relationships through social will take your brand equity a long way. While you should try to post a variety of content, donâ&#x20AC;&#x2122;t be afraid to promote your products and services, too! Thirty-nine percent of Facebook users say they follow Facebook Business Pages because they want to receive special offers. If youâ&#x20AC;&#x2122;re covering closing costs or waiving appraisal fees, make sure your social followers know. To expand your reach further, consider collaborating with local real estate agents or industry professionals to create dualbranded content. Not only will you be building on each otherâ&#x20AC;&#x2122;s credibility in the market, but you will also be able to reach a new group of potential clients and followers in their network. With each of your channels, itâ&#x20AC;&#x2122;s important to post at least three times per week to maintain your presence. You should also monitor each channel daily to ensure youâ&#x20AC;&#x2122;re not missing any leads or comments that need your attention.

5. Keep engaging Engagement is the number one factor that can set you apart from the competition on social. Responding to all messages, liking comments on your posts and interacting with your audience will show you care. Your followers want to know theyâ&#x20AC;&#x2122;re working with real people, not just another brand trying to get their business. Even if itâ&#x20AC;&#x2122;s just â&#x20AC;&#x153;thank youâ&#x20AC;? or â&#x20AC;&#x153;I appreciate your business,â&#x20AC;? these small gestures can lead to more business and referrals. When it comes to negative comments, poor reviews and angry clients, donâ&#x20AC;&#x2122;t shy away from them! You should respond at least once to their post, and then take the conversation offline if it continues. Be honest, transparent and willing to resolve any issues they may have. If you messed up, apologize and try to make it right. Often times, people just want to be heard and acknowledged. If you do that, these issues are more likely to be diffused instead of escalated. 6. Enhance your online reputation Think of the last time you made a purchase. Did you read the online reviews to justify your decision? The same thought process applies to people who are looking for help with their mortgage. When potential clients visit your pages, you want to ensure you have as many positive reviews as possible to show youâ&#x20AC;&#x2122;re the perfect person for the job. The easiest way to generate exceptional reviews is to ask for them. When youâ&#x20AC;&#x2122;re at the closing table with a real estate agent and borrower, ask them to leave a review about their experience. Chances are they wonâ&#x20AC;&#x2122;t mind doing you a quick favor. With stellar reviews, insightful content and easily accessible information, your social pages will be ready to increase brand awareness and generate new leads with just a few clicks. Now itâ&#x20AC;&#x2122;s time to log in and get social!

Sarah DeCiantis is chief marketing officer for United Wholesale Mortgage (UWM). In her role, Sarah spearheads marketing and strategy, which has revolutionized the impact that marketing can have on overall company success. Before Joining UWM, Sarah was the director of partnership marketing for Palace Sports and Entertainment and the Detroit Pistons. She also worked for 10 Years at advertising agencies. Sarah was recently named one of the â&#x20AC;&#x153;Top 40 Under 40â&#x20AC;? by National Mortgage Professional Magazine, and recognized with a 2018 Notable Women in Marketing Award by Crainâ&#x20AC;&#x2122;s Detroit Business.

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A Marketing Mindset in the Mortgage Industry By Sara Bjellos-Hood & Andrea Lefebvre n today’s fast-paced mortgage industry, a marketing mindset— regardless of your job title—can make the difference between stagnation and success. With a combined experience of more than 50 years in the mortgage industry, we like to remind ourselves that marketing is about strategy, techniques and tools, which are deployed to maintain clients and source new prospects. However, this can be a challenge while supporting a transactional pipeline of loans. At our firm, we’ve determined four fundamental skills that help our team market ourselves to current and prospective borrowers: Knowing your audience, articulating your value, mastering your pitch, and maintaining relationships. From a first impression to a closed loan, these steps will allow you to position yourself as an industry expert, while retaining transparency with your customers and confidence in the products you deliver.

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1. Know your audience The first step in knowing your audience is identifying your ideal prospect. Next, work to connect with that audience beyond the basics—Internet, emails, cold calling, letter writing, etc. Utilize a combination of resources to build deeper relationships, such as social media, internal marketing, industry conventions and old-fashioned direct contact. When targeting Millennials in particular, social media is a timely avenue to reach that demographic on a broader scale. As a team that services the entire country, we are not always able to connect with clients in-person, which makes social media a great tool for initiating interest. Curate your posts to be personal and concise. For example, if you’re running a special promotion on a jumbo mortgage loan, you’ll want to make a social splash. In your post, include important details, such as the benefits to

“Technology and marketing are vital tools for reaching customers, but it’s equally important to provide an industry-educated response on the other side of the phone when they call with questions.” —Sara Bjellos-Hood, Account Executive, Florida Capital Bank

“The first step in knowing your audience is identifying your ideal prospect. Next, work to connect with that audience beyond the basics— Internet, e-mails, cold calling, letter writing, etc.” —Andrea Lefebvre, Managing Director of Production, Florida Capital Bank

them in financial terms, applicant qualifications, timeliness and then direct them to a Web site or representative for more information. The goal is to catch a client’s attention long enough to draw them in for a longer conversation. Once you’ve managed to solidify that first connection, the next steps are vital. In a recent training, our team learned that you should never walk into a meeting spewing product information ad nauseam to prospect clients. Instead,

listen more and talk less. Take the time to understand your clients’ goals and objectives. We like to call this “breaking bread” with a prospective customer—an open dialogue that allows you to find the right angle for how you can help supplement their business. A client wants to work with a partner that not only builds their business, but also complements what they’re already achieving. 2. Articulate your value To articulate your value, you

have to identify it. Ask yourself a few questions: What sets your mortgage lending team apart from big box lenders? How can you solve their problem? What makes you the better choice? When presenting ourselves to customers, we describe Florida Capital Bank as a federally-chartered boutique bank with an emphasis on our products, money-back service guarantee, and most of all, access to our experienced professionals. Our value lies within our team experience in the industry. Technology and marketing are vital tools for reaching customers, but it’s equally important to provide an industry-educated response on the other side of the phone when they call with questions. That’s where your colleagues and teammates come to play a key role in articulating value. Some ways that we work to properly articulate our value as a mortgage lender are staff trainings, conventions, staying up-to-date on industry trends and changes, and weekly coaching calls. It’s important to invest in sales training and coaching for employees. In our weekly coaching calls, our teams share recent challenges, offer advice, celebrate wins, and share customer feedback, whether positive or negative. These internal initiatives help reinforce our goals and messages as a preferred mortgage lender. Understanding the value that each teammate brings to the table allows you to better express how a prospective borrower can benefit from working with your team. 3. Master the pitch With a unified message, you can then work to master the pitch. We’ve identified four components that make up an ideal pitch for mortgage professionals: l Credibility: Don’t be afraid to leverage your experience. Being a mortgage professional means that you’re tasked with evaluating your clients’ financial situations. Your credibility allows your customers to trust and value your expertise. If your experience comprises working in various

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emulate that quality in your pitches. 4. Maintain the relationship You’ve identified your audience, articulated your value, and mastered the pitch. Now, your focus should be on maintaining the relationship— an effective form of marketing. Today, the Internet is the first place people go to research and shop for products and services. However, consumers still rely heavily on word-ofmouth when deciding who to trust with their business. This is no different in the mortgage industry. Prospective borrowers are doing their research before choosing a lender. There’s value in retaining and growing a current customer, just as much as sourcing a new one. A client may need a refinance, HELOC or an expansion loan in the future. The way you cultivate your relationship post-closing determines your reputation, not just with that client, but within a community and industry. That affects others who may consider your products for their future lending needs. One way that our team works to strengthen and retain clients relationships is by staying active and engaging with clients on social media. For example, you can post a thank you on LinkedIn, share a client’s post, ask a client for a

testimonial to share, or simply engage with clients’ content regularly. These are small tasks, yet offer a great, mutual benefit. They allow your organization exposure to other potential clients as well as reinforces your care for your client—a win-win. Try implementing a “Thank You Campaign” after a loan is closed. It’s important to show your client recognition of what you were able to accomplish together. Whether it’s for one or 20 loans, be sure to express your gratitude. Recently, our team began implementing home office visits to mix and mingle with clients. This strategy was valuable for both our service team and the client. The home

office visits allowed us to enjoy face time with clients, “break bread” and gave us a chance to reinforce what clients enjoy about our partnership and next steps to elevate and enhance the client experience. For both consumers and professionals, technology has changed many aspects of the mortgage industry. As times evolve, so should your marketing mindset. In the mortgage industry, we are all marketing ourselves, our skills and our companies. Maintaining a marketing mindset will set you apart to prospective borrowers and leave your competitors wondering how you do it so successfully.

Sara Bjellos-Hood, account executive for Florida Capital Bank, brings more than 20 years of experience in many different capacities within the mortgage industry. Her career began in operations, transitioned over to a Retail Loan Officer, where she stayed for six years, and then in 2005, third-party originations at FLCBank. Sara has been recognized as a Top Producer as both a retail loan officer and TPO account executive, earning accolades as both a President’s Club and Chairman’s Club recipient. Andrea Lefebvre, Managing Director of Production for Florida Capital Bank, joined FLCBank in 2008. Her tenure in the third-party origination space includes 14 years as northeast regional manager and national credit committee co-chair at SunTrust Mortgage, as well as being recognized as Affiliate of the Year for the Northeast Brokers Association.

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roles in the industry, make mention of it. Understanding a variety of roles, from operations to client relations, will reinforce your vast knowledge. Whether your experience is in warehouse lending, third party originations, retail originations, small business lending, or a combination, talk about success stories and client feedback. Present your experience and knowledge as a benefit to prospective borrowers. l Convenience: We like to call ourselves mortgage doctors on call. As mortgage professionals, we have access to underwriters, capital markets and our management team 24/7. Even when our doors are closed, we’re able to work with clients in time-sensitive situations. l Conversation: Start your leads with a conversation. Listen to what your customers’ needs and pain points are. This will help to guide the rest of the conversation for both parties. Be prepared by learning about your client prior to a meeting, which lets them know that you are invested in helping their business grow. Come prepared with data, which gives your company additional credibility, which you can base decisions and strategies on. l Coaching: Take an educational approach. Offer your expertise as an additional teaching tool to consumers and real estate agents. Your client may appreciate your services as a way for them to perfect theirs, rather than replace current practices. The proper way of doing things means less delays. By adjusting your own practices to help clients earn raving fan referrals from consumers, CPA’s and real estate agent referral partners, your invested collaboration results in deeper, sustainable and profitable partnerships for everyone. Whichever strategy you choose to lead with, make it memorable. Think about what makes a great tagline or campaign headline, and

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Sourcing Non-QM Clients in the Modern Mortgage Marketplace By Mike Brenning oan officers in the modern mortgage marketplace need to have both a traditional and nontraditional marketing plan for how they are sourcing non-QM clients, and clients in general, in today’s hyper-competitive market. Relying on traditional lead sources and marketing is something that every successful loan officer focuses on in their career. Will that be enough for long-term success? I’d argue that “continuing to do what one has always done” isn’t necessarily insanity, as the old adage suggests. I do believe that solely sticking with that as the core plan will leave you at a deficit in the years to come. A successful loan officer has to learn new things, try innovative approaches and get a little uncomfortable. Let’s spend a minute exploring some new ideas that might take them out of their comfort zone, but will certainly help them diversify their business in 2019 and beyond. Real estate agents are the Holy Grail. They have always been, regardless of what the digital pundits suggest. I don’t believe Real estate agents are going anywhere in the next 1520 years. Knowing that the traditional sources will still be around, we are able to focus our energy on new ideas to grow and diversify. The first new idea to put into action is to make sure that we include the following type of referral sources in print, e-mail, networking and digital marketing strategies. These will lead us to new types of clients, with a heavy emphasis on nonQM/non agency clients:

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l Bank and credit union loan officers l Divorce attorneys l The managing real estate broker of your top referring agents Let’s spend a minute exploring each of these referrals sources from another perspective in order to help

understand the opportunity. Bank and credit union loan officers could and should become a key referral source for you. Wait, aren’t they my competitor, you are probably asking? In a traditional sense, yes. They are likely competing locally for many of the same potential clients. However, here’s the reason you should make financial institution LO’s a key to your marketing. Bank and credit union LO’s will happily refer you to clients that they cannot serve through traditional and portfolio products. The single last thing they want to do with the client is turn them down and not offer a solution. Pick up the phone, pick up referrals from bank and CU LO’s. The reality is if the client doesn’t fit the agency or portfolio box, there is a high likelihood that the client will qualify for non-QM financing. Divorce attorneys might seem like a “touchy subject” referral source given the tension typically present in a divorce situation. You can be a solution and help to diffuse tension. However morbid you may think this is, the reality is that divorce almost always ends in property separation (i.e. the need for one spouse to pay off the equity position to another spouse). It is also likely that the spouse receiving equity from the divorce will be looking to purchase. So on one hand, you might be a solution for a cash-out refinance. On another hand, you can help the other spouse finance the purchase of a new home. By having both agency/government and nonQM solutions at hand, you are the one positive in a tough situation. The managing real estate broker of your top real estate agent referrals sources could literally prove to be your single best referral source of non-QM clients. Wait. What? If this isn’t registering yet, the “Why” behind this is simple. Nearly every single real estate agent in America is self-employed. This happens to fit really, really well into the primary focus of nonQM, alternative income

“A successful loan officer has to learn new things, try innovative approaches and get a little uncomfortable.”

verification such as bank statements. The real estate broker will look at you as an “Employee Benefit” to offer to all of his or her agents. You start winning hearts and minds with every loan closed for real estate agents inside some of your best referring agents shops. And what do you think happens to the traditional agent referral business when you close a loan personally for an agent that hasn’t referred to you in the past? You will get

their future referral business because they saw firsthand how great you are. This even applies to self-employed clients with a need for alternative income documentation types to qualify. Challenge yourself to stop doing the same thing every day. This is especially important, given the recent rate rally. Don’t lose sight of building a sustainable purchase-focused business by adding these three dimensions to your marketing strategy.

Mike Brenning is chief production officer for Deephaven Mortgage. He may be reached by phone at (704) 7544761 or e-mail MBrenning@DeephavenMortgage.com.

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The Case for Content Marketing More warehouse and wholesale lenders should be using content marketing to reach correspondents and brokers … here’s why By Rick Grant & Brian Rieger

arehouse, wholesale and correspondent lenders aren’t using business to business (B2B) content marketing as effectively as they could, especially as the battle for market share heats up. Although other industries have been reaping the benefits for years, what little content we do see in the mortgage space is being directed toward borrowers. If warehouse and wholesale lenders wish to grow their market share by attracting more correspondents or brokerages, shouldn’t they also be using content marketing? Let’s start with the basics. Winning the business of a brokerage, a correspondent lender or even a retail banker (for warehouse lenders) is at the core of how warehouse and wholesale lenders grow. Let’s further assume that, much of the time, pre-established relationships rule the day when the broker or correspondent does have a choice to make. So how do those existing relationships that steer new business get built in the first place? In today’s world, warehouse and wholesale lenders still seem to gain their competitive edge (where rate isn’t the only determinative factor) from some mix of blanket advertising and dinner meetings. They establish relationships, then win loyalty through direct sales efforts; simple direct marketing; good support resources (technology, advice, information, leads); unique products (as unique as possible, anyway) and superior customer service. All can be effective when they reach the target broker or correspondent, but all too often, the word about these benefits doesn’t get out widely. We do see a lot of blanket advertising, which has its benefits, but many times, the advertising is ineffectively executed, off-message or too broad to make a real difference. To date, we’ve seen very little content marketing in the mortgage industry. Most of what we’ve seen has been targeted at

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“Today’s broker and banker are no different from any other professional consumer when it comes to ingesting marketing, advertising and sales outreach. They tend to filter out much of the general blast efforts, as well as warding off the ever-increasing, more hyperbolic sales pitches.” —Rick Grant is special reports editor for National Mortgage Professional Magazine and Mortgage News Network

“When the target audience trusts the producer of good content marketing, its filters are softened. The information delivered is taken as trustworthy, and, by connection, the producers of the content become trustworthy as well.” —Brian Rieger, Principal of True Impact Communications/CEO & Co-Founder, Content Beacon

consumers. Very little has been B2B. Even less of the purported content marketing we’ve seen has been true content marketing. It seems most lenders are omitting the option of content marketing from their strategic toolkit. We’d argue that this is a

massive mistake, and that the best warehouse and wholesale lenders should be gearing up to produce good content marketing. It’s not so radically different from many techniques we’ve used to build business for decades. And it can really work … if done well.

Why content marketing? To understand why content marketing is a strong alternative, let’s look at what makes some of the traditional methods of wooing third-party originators effective in the first place. We mentioned advertising, direct sales and direct marketing as three ways to “get out the word” about what a warehouse, correspondent or wholesale lender can offer that others don’t. The principle behind these methods is, in fact, a bit oldfashioned. Once upon a time, long before the “Great Interwebs” were a real thing, people had fewer resources to research brands and solutions. By default, an advertisement, a mailer or a phone call—like it or not—did serve as an introduction to a brand. These methods did, to a degree, serve as background information for a potential solution. The core principle making these methods work was information. When the marketing or advertising led to a salesperson, if the sale was made, the core principle often came down to trust or reputation once the buyer had established a reputation with that salesperson. With the rise of the Internet, social media and saturation communication, however, things have changed dramatically. We don’t need an advertisement to hear about a good brand. We’re inundated by e-mails, calls and other forms of intrusive communication; all begging for our attention just to blast us with bombastic claims and assertions. We’ve become more comfortable stretching the truth about what our products and services really do. Every new product is “revolutionary,” it seems. Every service is “elite.” Or so they claim. Today’s broker and banker are no different from any other professional consumer when it comes to ingesting marketing, advertising and sales outreach. They tend to filter out much of the general blast efforts, as well as warding off the everincreasing, more hyperbolic sales pitches. That’s just not how they like to find out about new offerings. Instead, they turn to peers, friends, social media, apps and Web sites and other, more trustworthy sources to find

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Source: Semantic Studios, Ann Arbor, MI, Blog: “Peter Morville’s User Experience Honeycomb,” semanticstudios.com/user_experience_design/

key message … all of these things are bad content marketing and a waste of time and money. So what makes content marketing good? Principle one is that, at its core, it’s about the user, not the content producer. In many ways, User Experience (UX) principles can be applied to create good content marketing. We’ve borrowed this honeycomb graphic above from Peter Morville … In a word, this. This is what separates genuine content marketing from self-serving advertising. Even if the infographic itself was designed for the idea of UX, it can be applied to content marketing. No matter what your goal, the content delivered must meet enough of the criteria in the honeycomb—in the mind of your user, not just you—that the user will come back for the next piece of content. And the next. Until a virtual relationship of trust and loyalty has begun. Customer Experience (CX) principles, which tend to be even broader than UX, can also be applied to the definition of good content marketing. Simply slapping together a blog about the sunrise you witnessed yesterday probably won’t be enough to keep ‘em coming back. Good content is

interesting, but it’s also relevant. To the intended user and to you. It reflects an expert understanding of what’s important to your potential partners or customers—and in a subtle and sophisticated fashion, ties it into your own abilities to help them. We’re borrowing four of Jack Miller’s five outstanding CX principles (Jack Miller, Chattermill blog July 28, 2017. “The 5 Principles of Great Customer Experience,” mycustomer.com/community/blo gs/jackmiller/the-5-principles-ofgreat-customer-experience) and applying them to content marketing now. In essence, your content marketing should … l Reflect a continuous understanding of what is important to your customers l Reflect an understanding of not just how likely your customers are to recommend your brand, but why l Reflect an understanding of

Good content marketing, then, compels readership or viewership. It’s about the user. It has value in and of itself. It’s interesting, but it also has a point. The content reflects subject matter expertise on the part of the producer. There’s a marketing point to it, but it’s not pounded home like a sledgehammer. Rather, it’s left for the user to understand and to make the obvious choice. Again, good content marketing has a lot in common with the tactics used by the great consultative salespeople. They don’t shout their unique value proposition at prospects during a trade conference mixer. Instead, they prove their worth in little ways over time, becoming trusted advisors, until the prospect becomes a client. Good content marketing, in essence, can be somewhat of a trusted advisor. Given the continued success of the consultative sales strategy employed by so many warehouse and wholesale lenders when it comes to finding solid business partners, it’s a wonder more haven’t invested in solid content marketing. Good content marketing can reach prospects the inside sales associate could have missed while cold calling or perusing purchased lists. Good content marketing can help prospects its producer didn’t even know existed, widening the sales funnel. When done well, content marketing can provide an ongoing edge that simultaneously recruits prospects, supports clients and improves overall brand. So why aren’t more lenders in our industry using it? That’s one for which we have no answer.

Rick Grant is special reports editor for National Mortgage Professional Magazine and Mortgage News Network. He may be reached by phone at (570) 497-1026 or e-mail RickG@MortgageNewsNetwork.com. Brian Rieger is principal of True Impact Communications as well as CEO and cofounder of content marketing agency, Content Beacon. You can reach him at Brian@TrueImpactCommunications.com, call (330) 348-1678 or @BrianRieger on Twitter.

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What is good content marketing? It cannot be overstated: Only good content marketing is effective. Throwing up a podcast that amounts to a general ad; plugging in the marketing collateral as a “blog;” even a relatively interesting piece of information that is not useful to the user nor really tied to the creator’s

the entire customer journey (not just the point of sale) l React to customers in near real time, where interaction is part of your strategy

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out if Brand Y is, indeed, broker-friendly on non-QM loans. They’ve moved their trust and loyalty to repositories they trust, rather than trusting an advertisement or sales pitch on sight. So, why content marketing? Simple. Good content marketing mirrors or, better yet, is information that is useful to the target audience, and which they trust. But the emphasis is on the word “good.” When the target audience trusts the producer of good content marketing, its filters are softened. The information delivered is taken as trustworthy, and, by connection, the producers of the content become trustworthy as well. When built well, content marketing is really little different from an outstanding consultative sales representative. That rep’s clients come to know that he or she is honest and trustworthy. They understand that he or she does have a dog in the fight, but they trust him or her nonetheless. A good consultative salesperson leaves the final choice to the prospect—no hard sell necessary. The same is true with good content marketing. When done well, content marketing builds trust and loyalty with its audience, which ties back to the producer of the content. No hard sell needed. Good content marketing will work in the mortgage industry because ours is a relationshipbased industry, even now. Numbers still sell. Rate usually wins, yes, but when an independent originator is caught in a tricky scenario, they are most like to turn to someone or a brand they trust. Good content marketing can easily be the warehouse or wholesale lender’s edge when those situations arise.

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How Marketing and Technology Automation Can Boost Your Business tools for automating the management your leads is a customer relationship management (CRM) system. There are a variety of options out there, each with their own unique advantages. If you have a company-sponsored CRM that you can utilize, this might be your best bet. Not only does a CRM help you market to prospective clients and business partners, but it also helps you stay in front of past clients, current clients and current business partners. By sending regular e-mails, video updates and more to your contacts, you’ll continue to build a credible reputation. As with social media, your CRM content should be informative, tell a story or share an experience or offer a solution. Also, be sure to space out the number of e-mails in the campaigns you send out, to avoid overwhelming or frustrating your contacts. In many cases, your company’s marketing team can automate CRM campaigns for you–which will allow you to focus exclusively on prospecting and lead generation.

search: These solutions often include a personalized Web site that promotes your business or team and showcases local property listings–plus Facebook ads that display similar content. l Home search apps for your real estate agent partners: These apps are designed to help consumers search for homes. Plus, because the app is branded with your information and your real estate agent partner’s information, it can generate leads for both of you. l Mobile apps for the home loan process: Having a mobile app that is specific to your company can be immensely valuable. An effective app should have the capabilities to allow your clients to leave you reviews, view their loan information, access mortgage calculators and generate preapproval letters. l Video conferencing technology: While video conferencing technology has been around for a while, many of us overlook its effectiveness when it comes to communicating with our business partners and clients, externally, and our own team members, internally. When it comes to important conversations, seeing your clients and business partners “face to face” will help build credibility and trust.

Tackle technology When it comes to choosing additional systems to market your services, it can be an overwhelming process–but it doesn’t need to be. True, there are thousands of technology solutions out there, but narrowing down those that are truly tailored to the mortgage industry can be easier than you think. It’s especially important to offer solutions to your real estate agent partners and clients. A few examples of technology offerings to look into include: l Systems that provides unique, neighborhoodspecific content for consumers who are beginning their home

Take action Of course, there are many other marketing and technology systems and solutions that could help meet a variety of your business needs. The bottom line is this: it’s essential to get in touch with your company’s marketing and information services teams to learn about the solutions that are available to you. With automated systems on your side, you can focus entirely on prospecting, making connections and building your loan origination business. When you can devote most of your time to what you do best, your business, your clients and business partners and your team members will reap the benefits.

By Lisa Fenske

s a loan originator, marketing may or may not be your strength. But the good news is this: With the multitude of automated marketing solutions available, you don’t have to spend hours on marketing efforts to experience a hugely positive impact on your loan origination business. Automating your marketing processes (or, better yet, tapping in to your company’s marketing and information services teams to automate your marketing efforts for you) is one of the best ways to free up your time for prospecting, networking and meeting new people in the industry. Seventy-five percent of marketers use a least one marketing automation system, according to Social Media Today’s 2019 “State of Marketing Automation Survey Report.” It’s no secret: The majority has found the best ways to work smarter, not harder, when it comes to marketing their products and services. So, how can you make the most of your company’s marketing and technology automation services? There are a few key areas to focus on ...

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Get social There’s no doubt about it … social media is king. When it comes to generating leads and referrals, it’s imperative for loan originators to have a strong social media presence. Not only will well-managed social media profiles help foster your professional brand, but they will also make you appear more credible to borrowers and real estate agents who are considering working with you. Regularly updating your social media profiles with relevant, fun and engaging content is also essential. Keep in mind that the majority of consumers (70 percent, according to MDG Advertising) want to learn about products through content that entertains, shares a story or personal experience and provides solutions.

In other words, social media is not the place for traditional advertising tactics. Again, this is an opportunity to build your credibility, while also sharing information that is appealing and valuable to the consumer. One very easy example of how to share meaningful content is to simply snap a photo of your clients at the closing table and post the image, along with a personalized message, to your social media accounts. Be sure to ask your compliance team about your company’s policy for posting customer photos online, follow those guidelines and you’ll be good to go. Another way to appeal to potential clients and business partners via social media is to showcase your company’s community service and charity efforts. People often enjoy seeing “behind the scenes” photos or videos of how your professional life aligns with your charitable efforts and volunteering. It not only makes you more relatable, but serves as a reminder that you put effort into helping others. Social media management is an important part of your business. But, as a loan originator, your time is best spent prospecting for leads and networking with potential business partners in your market. This is where your marketing team comes in. Ask them for assistance with: l Social media automation: Scheduling regular posts on your business social media accounts. l Reputation management: Responding to all negative and positive reviews and comments in a timely manner. l Analytics: Determining which posts receive the most engagement, so similar content can be pushed out in the future Capitalize on a CRM Generating leads is a significant part of a loan originator’s job, but if you aren’t successfully managing and marketing to those leads, they won’t have any impact on your business. One of the most important

Lisa Fenske, PMP, is senior vice president of marketing and communications for Waterstone Mortgage Corporation. She can be reached by e-mail at LFenske@WaterstoneMortgage.com.

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How to Triple Your Database Referrals for Only $3 Per Day By Nick Carpenter f you have a database of past mortgage clients you are currently marketing with e-mails and direct mail, these next few paragraphs will help you triple the referrals and repeat business you are getting for only $3 per day. I have a super simple idea for you in this issue of National Mortgage Professional Magazine to combine your database, social media and video at the same time to turn you into a local celebrity who is recognized all over town. Every loan officer has a database, even though most of us don’t market to it as often as we probably should. Actually, ask yourself that right now. When is the last time you e-mailed your database? When is the last time your database saw your face? When is the last time your database heard your voice? These are all challenges we can solve by running cheap paid ads to your database on Facebook to stay top of mind. You might be surprised or even scared by the amount of data Facebook has available inside the ads manager tool if you don’t actively run ads. The hidden data is coming from Facebook Pixels, installed on millions of Web sites. Of course, these include real estate- and mortgage-focused Web sites as well. Sometimes the data can be scary from a personal privacy standpoint, but we may as well take advantage of it also to grow our mortgage business. Inside the Facebook ads manager, there is a section to create your own audiences. You can make a custom audience by copying and pasting information or uploading a list of your clients or leads. It’s really simple and one of the cheapest and most effective ways to use Facebook ads. Everyone is so focused on getting new leads that this little known database strategy gets overlooked by 99 percent of originators today.

“When is the last time you e-mailed your database? When is the last time your database saw your face? When is the last time your database heard your voice?”

First, go into your CRM or wherever you have your database and you’re going to download your contacts. Facebook wants this in a .CSV or .TXT format. The only important information you really need is the names, e-mails and phone numbers. Next, you go into the Facebook Ads Manager and upload the list as a custom audience at Facebook.com/Ads/Manager/Au diences. You will have an opportunity to import the list and then select which columns of data to use to create your database audience. Facebook will do its thing and the bots in the background will go match your uploaded list to existing Facebook profiles based on the names, e-mail addresses used on the account and what cellphone has the app installed. When that search is complete in about 30 minutes, your audience will turn green and be available to use with

paid ads. Creating this custom audience from your database is powerful because you can run ads on Facebook and know that only people who already know, like and trust you on some level are going to see the ads. Sure, the ads will be shareable so they can introduce you to their friends online also. But the big goal, is to stay top of mind with the people you have already done business with to get their referrals and repeat business. Sending e-mails as often as you can appear on Facebook ads would be intrusive and they will probably unsubscribe from the e-mail list if you are messaging more than once per week. There’s an option to send e-mails and reinforce that message using videos on Facebook too. It would be really expensive to try and replicate what’s possible with Facebook ads using physical mail too.

According to multiple websites with ad stats, the average CPM, or cost to advertise to 1,000 on Facebook ads is less than $7.19. Some of the cheapest direct mail options I could find were double-sided postcards, printed and mailed for 57 cents each. Let’s just assume you only have 1,000 people in your database. What you could on Facebook ads for $10-$20 would cost at least $500 to send them mail. Plus, that would only be text and photos not a video on their cellphone on the site they already spend 35 minutes per day on. Now, how do we make full use of this database audience in Facebook? The best way I have found is to run video ads to the database in a three-part formula spending $3 per day, or $1 per day per video. Video 1: Customer testimonial First, you are going to spend $1 per day running an ad to the database with a recent client testimonial. These videos can have a two-week to one month lifespan so you don’t have to swap them out very often. Our goal by running a client review to the database is to remind them how awesome you are and prime them to send you referrals or mention you to a friend. It can be these simple reminders that lead to more referrals … I’m still in the mortgage business, I’m still successful and I’m still helping clients become homeowners or refinance. Video 2: Monthly market update The second video with a $1 per day budget is a monthly market update letting people know what’s new in real estate and mortgages. You can do this video by yourself in one or two minutes or bring in a real estate agent to shoot with you. The partner video will probably be two or three minutes long. The basic script is for the real estate agent to start and share three updates, such as average price per foot, hottest zip code or neighborhoods, average days on the market and things that sellers care about. You can share any new

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downpayment assistance programs, anything new locally and some idea of where rates are and what that means for buyers. Video 3: Direct response ad The last video with a $1 per day budget is a direct response ad with a call to action for an appointment. Some example text for a video like this could be: “Hey, want to chat about buying or selling a home? Know someone who may need my help? Grab a time that works for you on the link below the video. Have a great one.” These types of marketing videos will help you constantly keep a face and voice and a real human connection with your database. They are going to help you continually build better and closer relationships, even if it’s only one-sided. There’s a concept called a “Parasocial Relationship.” Wikipedia defines it as a term coined by Horton and Wohl in

1956 to refer to a kind of psychological relationship experienced by an audience in their mediated encounters with performers in the mass media, particularly on television. And just what’s is the modern day television … social media of course! Heck, you see people riding the highway watching videos and scrolling Facebook, Instagram or Snapchat. Having your face in front of your database will create this Parasocial Relationship like a music artist performing on Good Morning America. The old saying that people work with people they know, like and trust is true and will always be true. Using social media and online marketing isn’t going to replace that but it can strengthen it. Use Facebook and the other platforms as a way to reinforce who you are in real life, what your values are and how you help people. Be a complete

person who isn’t afraid to share the good and the bad things that happen. Share your personal life and your business wins. And, don’t be afraid to get

on camera and create a connection with people so that your business continues to win with the shifting marketing and social trends.

Nick Carpenter is a U.S. Air Force Veteran and the founder of America’s Mastermind for Smart Mortgage Professionals, The Legion of Loan Officers, with more than 400 members across the country. The Legion is a brotherhood closing more than $1 billion in home loans per year. Nick may be reached by e-mail at Nick@LegionOfLoanOfficers.com or visit LegionOfLoanOfficers.com.

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The Marketing Pie and How to Get Your Piece By Mary Kamelle

here is no shortage of vendors touting the magic product that will solve all of your marketing needs. As a marketer, it makes you dizzy trying to evaluate them, keep track of them and determine which ones will bring your LO’s to the next level. The technology keeps getting better and smarter. As soon as you figure out the latest app, there is a newer, better app to take its place. Now, as always, you need a marketing blend to make it all work. You cannot put all of your budget into just one method, and you must have your loan officer’s involvement to make any of them work. As hard as a marketer works to get a lead generated by marketing alone, it must still be turned over to a licensed loan officer. There is no substitute for industry knowledge and loan officer engagement. So, the mix consists of the right tools, loan officer engagement and marketing strategy. What’s in the mix?

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l l l l

Social media CRM Social selling and listening Relationships and referral partners l Events l Sponsorships If these are the ingredients in the marketing mix, you need to know what proportion of each works best for you. Your marketing mix might not be my marketing mix! You need to know who your customers are to reach them. Once you know who they are, you can pick the most effective channels in which to invest your marketing budget. To do this, you need access to your data which is readily available from your LOS and CRM! Where do your customers come from, and how can you reach them most effectively? If 60 percent of your customers are GenXer’s and Baby Boomers, you don’t

“Do you see yourself as an old school financial advisor, a wisecracking, quick-witted expert or a consultant providing education? You should express that in your marketing strategies.”

want to be investing all of your marketing efforts on Instagram or Snapchat unless you are trying to develop a new market. Don’t just advertise on a particular channel because “Millennial” is the new buzzword you want to reach! If you have done any social media marketing, the channel you used, whether it was Facebook, Instagram, LinkedIn, etc., has collected data for you. They know who looks at, clicks on, reads or watches your content. That data is yours and it is the best tool for you to use to streamline your efforts. What is interesting in the mortgage industry is that there is a corporate marketing agenda which aggregates all loan officers’ data to create corporate personas and there is data for every loan officer. Each loan officer will have a different data set because of the types of customers with which they work. Customers will vary from region to region based on

income and other demographic factors. Once you get your hands on your data, you can aggregate the data across channels to build your sales persona. These are the personas of the folks you want to target. Having accurate personas will provide insight into the conversations that might be taking place amongst your prospects and customers. The information used to build these personas will help you match your content to their needs. It will help you uncover what resonates with them. It is a smart way to ensure that your marketing strategy is your own and not just a copy of your competition’s plan. You can go in-depth, building your personas or start with some basic metrics such as: l Age l Location l Gender

l l l l l l

Income/spending Pain points Personality traits Goals Objections Brands they support

Once you have your personas, you need to determine which channels you will use for marketing. By properly using your data, you can figure out which sites are most relevant. You know the names: Facebook, Instagram, Pinterest, LinkedIn, Houzz, etc. Each channel will tell you they are the one to use, but demographics speak louder than words. The user information on each channel is readily available. If you are running your digital marketing campaigns, you don’t want to spread yourself thin. You should focus on the most relevant social media sites. Once you decide the channels, you need to develop the message. Not all demographic groups will receive your messages in the same way. If you find that most of your customers are within a specific age range, you might want to target your brand voice to speak to them directly. As a loan officer, you also have a stake in how you present yourself to your customers. Your reputation as a licensed loan officer is valuable. Do you see yourself as an old school financial advisor, a wisecracking, quick-witted expert or a consultant providing education? You should express that in your marketing strategies. Share what the experience will be like when they work with you. Today, more than ever, it is all about the “experience.” Fine-tuning your strategies is an ongoing process. Reviewing the effectiveness of any campaign will help you produce messages that will ultimately resonate with the prospects you are trying to reach. Analytics tools are a great way to learn about your customers, but that isn’t the only way to go. You could just ask them what they want. The simple act of asking questions to your followers or customers might surprise you. Whether it is through a survey poll or a simple post, your audience’s responses provide valuable insight into their struggles. Ask them: “Do you want more content

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regarding private mortgage insurance or first-time homebuyer programs?â&#x20AC;? If you give them the content or information they want, and it is useful, they will be more likely to engage again. An emerging technique called â&#x20AC;&#x153;Social Listeningâ&#x20AC;? helps you create the kind of content your followers want, come up with new ideas based on industry trends, improve your customer experience by interacting directly with customers, and continuously shift your customer strategy to fit their current needs is becoming more popular. It is always crucial to respond to comments and questions on social media. Customers want to be heard and want you to be responsive, whether the feedback is good or bad. Customer comments also help you to recognize if there is a problem. If you have a loan officer or other employee who keeps getting negative mentions on social media, this is a good indication that something is up.

It is easy to ignore a couple of comments, but when you start to see a pattern, your listening and responding needs to turn into something more actionable. You can use Social Listening to discover new opportunities. In a group, if a lot of potential customers are frustrated because of a particular way of doing business, use this as an opportunity for your business to meet their needs. Social Listening is another way to engage. Engagement is critical. You can spend hundreds on Facebook and Instagram ads, but if you arenâ&#x20AC;&#x2122;t listening, it is a waste of money. Social Listening is paying attention to your customers and what they are saying about you and your company. It is crucial that you are monitoring your reputation and social mentions. If you are receiving kudos, say thank you and referrals are always appreciated! And, if by some chance, you are disparaged by a disgruntled individual, you must acknowledge it and try to

address the comment in the most polite manner possible. After all, we know the mortgage process is a stressful and highly emotional experience. High stress and lost tempers are not unusual during this process, but it is not something to hide from but rather embrace. Oh, and if you are looking for another app to buy, some companies sell Social Listening tools as well! Social Selling involves engaging in the marketplace by joining Facebook and LinkedIn groups or other communities where you can present yourself as a mortgage expert. It is a non-threatening soft sell. You might not end up with a sale on the spot, but if you plant the seed of being the industry

expert, you could be the mortgage lender of choice down the road. There is no substitute for engagement and no replacing the loan officer in the sales process, yet. Until every borrower is perfect and there is nothing that requires the human touch, the loan officer wonâ&#x20AC;&#x2122;t disappear anytime soon, but the way we conduct business will continue to evolve at a dizzying pace. A marketing mix of social media, digital marketing, Social Selling and listening will help you create a solid marketing plan, but my loan officers would kill me if I did not say that there is still no substitute for getting in front of your real estate agents, every day!

Mary Kamelle is marketing manager at Mortgage Equity Partners and a content writer based out of Lynnfield, Mass. She can be reached by phone at (781) 309-1773 or e-mail MKamelle@MEPLoans.com. 67

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Is Your Brand Story Worth Telling? By Brent Emler

eth Godin, the modern-day prophet of all things marketing, throws a sobering curveball when he described “Marketing in Four Steps.” Hint: It’s not about the best email subject lines, A/B-tested fonts, or the hottest algorithm to predict which leads are going to give us a higher return on investment. Here’s how Seth describes it:

S 1.

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The first step is to invent a thing worth making, a story worth telling, a contribution worth talking about. The second step is to design and build it in a way that people will actually benefit from and care about. The third one is the one everyone gets all excited about. This is the step where you tell the story to the right people in the right way. The last step is so often overlooked: The part where you show up, regularly, consistently and generously, for years and years, to organize and lead and build confidence in the change you seek to make.

It is so easy to lose track of this—the simplicity and humanity—in the quest for more elegant solutions to give us an edge in these complex times. We want the secret sauce, “The Magic Bullet.” So, let’s have a look at Seth’s rules. In the mortgage business, we aren’t likely to invent a new wheel. Our service is a commodity—easily shopped between many lenders. It is price-driven and competitive. With that in mind, how can we possibly “Invent a thing worth making … a story worth telling?” I think that our answers might come from numbers 2, 3 and 4. In lieu of an opportunity to invent something that will

“What you provide is worth talking about if it helps people navigate a complex process and a volatile marketplace with lower anxiety and greater peace of mind. Please allow that to sink in for a moment.”

revolutionize a massive, highlyregulated industry, we can still get creative with the rest of it. “Getting creative with the rest of it” means that we will need to pull in the tools of big data, marketing tech and other ways to get the story in front of the “right people in the right way.” Since we aren’t making up a whole new kind of mortgage or remodeling the entire process in ways that will truly change the experience, what is that “way that people will actually benefit from and care about?” What I’m talking about here certainly is not 1/8 percent lower interest rate than the next guy—nor is it an issue of closing a day or two earlier than anyone else. The temptation is to focus on these details that were once story-worthy, but are now just commonly expected for any company worth playing the game. In other words, people know when we are trying to make a big deal out of things that should be minimum cost of

entry. You can close on time or you’re committed to offering responsive service? Big deal. Those are bare essentials to compete in the current marketplace. Let’s ask a question from #1 on Seth’s list: “What is our contribution that is worth talking about?” What you provide is worth talking about if it helps people navigate a complex process and a volatile marketplace with lower anxiety and greater peace of mind. Please allow that to sink in for a moment. Your value is not to be the mortgage person who can whittle a rate by some fractional percentage over the competition. It’s not because you are on call 24/7. Let’s assume that most clients want a favorable rate and a responsive professional. The reason they should come to you is if you have a track record of helping people just like them to get through what

can be a stressful process with the minimum amount of brain damage. How you help real people solve their real problems is … story-worthy. Let’s say that your company is committed to this sort of excellence. You have hundreds or thousands of stories that should be told—or at least hinted at—so your prospects can understand what you do and how it is differentiated from others in your industry. The fact is that the story itself makes you different. In a commodity business, everyone is probably offering a roughly similar experience at about the same price. But everyone is not articulating the human challenges of their clients and how they helped these real people solve their problems. In other words, telling the stories—true stories, examples and illustrative situations—sets you apart from the others. This brings us to #3 on Seth Godin’s list: “This is the step where you tell the story to the right people in the right way.” I have found that this is where most great companies still fall down. They are investing heavily in efficient processes, educating their sales team, managing more and more to the standards of a digital age. They are working very hard to provide excellence—but they aren’t telling anyone the real story about it! The marketing gold they have been mining for is running out through the many holes in their “mar-tech” approach like water through a sieve. Remember how I said that it’s “not about the best subject lines, A/B-tested fonts, etc.?” I meant that, but this is where my statement isn’t entirely true. The real conversion story isn’t the technical details that we get so excited about inside the marketing echo chamber. It isn’t. However, once we get clear on what the real story is, the marketing technology we use can play a critical role in making sure that we are telling “The story to the right people in the right way.” What do I mean by this? Let’s say that your head of marketing launches a project to dig out three-dozen stories from recent clients who successfully completed their mortgage with

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your company. This effort yields a stack of relatable anecdotes. Now what? How will you get these stories in front of the right people in the right way? Without a content plan, a delivery system, and a process for tracking results, this highly valuable project will likely be caught in the whirlwind of other urgent priorities and end up gathering digital dust somewhere. I recommend the following: l Recognize that “the story” is your big story—this is your competitive edge. You stepping back long enough to focus on the human factor and doing the hard work to communicate to real people is what sets you apart. l Prioritize the development of a content plan and a delivery system to help you share these “game changers” with those who need to know that you can help. This is where the effort usually falls apart! l Incentivize your teams to work it out; reward your

people to execute on this strategy all the way through. From content development to delivery tracking and followup, none of this can be left to chance. The money you spend here is going to work harder at a fraction of the overall expense. l Involve everyone. You gain a lot of marketing leverage when the whole team is involved with telling the same stories over and over again. Get your sales staff and marketing group brainstorming with the processing teams. Ask everyone to help you find the “marketing gold” stories. They already know these stories. Extraordinary service probably happens every day, but no one thinks to document these human moments so that the true value of what you do can be shared. This might sound like a high mountain to climb, especially if your teams have not been

engaged in this sort of thing before. I recommend reading the book, Building a Story Brand, by Donald Miller. In this Wall Street Journal number one bestseller, the author provides a framework for developing the real story—one that makes your prospects and clients the real

heroes and puts you firmly in the position of a trusted guide to help them get what they want. Yes, we need the right marketing technology but that is only so that we can deliver these true stories of the real value we provide day after day.

Brent Emler is director of sales and marketing at Velma.com, a customizable marketing software provider exclusive to the mortgage industry. With a background in business finance, Brent has a unique understanding of the modern lending climate and keeps his finger firmly on the pulse of leading trends. He may be reached by e-mail at Brent@Velma.com. 69

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How to Increase the Effectiveness of Four Mortgage Marketing Tools By Chris Carter

here are many marketing tools to help loan officers generate leads and increase sales. Each tool has specific goals and typically work independently from other marketing tools. While each tool can contribute to the overall marketing effort, mortgage companies benefit if these tools are promoted in a systematic way throughout the sales process. Let’s explore four common tools and how to improve their effectiveness. The four major marketing tools used often for marketing mortgage services are: E-mail marketing, Web site, online apps, and social media marketing.

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70 l E-mail marketing: E-mail marketing is used in all marketing phases to stay in contact with prospects, past customers and referral partners, such as real estate agents. The types of content sent to people should match where they are in the sales process. For example, emailing explainer videos to prospects as they make decisions helps convert the prospect into a client. But sending these videos to past customers would not be appropriate. l Web site marketing: Most people shopping for loans will engage in an Internet search for information. Web site marketing involves getting found online. This involves search engine optimization (SEO), as well as paid advertising with search engine companies. Once people find your Web site, they have access to your information to learn more about the company. l Online apps: There are many online apps to facilitate the process for applying for a loan online, typically on the Web site. They give the customer

control over starting the process and moving forward in the prospect sales phase. Mobile apps are another common tool. Customers can download these apps to their phone, allowing easy access to a loan officer’s contact information and other online tools. l Social media marketing: Most consumers have social media accounts and use them to research and follow a company’s products and services. It is an exciting marketing channel that offers many possibilities. Companies use social media to connect with consumers, increase brand awareness, drive Web site traffic, generate leads and build a community of followers. Each of these tools have their place in marketing and can achieve good results. The question is: How can these separate tools be promoted to get even better results? The answer is: Calls to Action (CTAs). CTAs are invitations for your customers to take throughout the sales process and after the transaction is completed. For example, a common goal is for prospects is to start the loan application online. Placing an Apply Now CTA button in your email signature encourages the prospect to take that action when they are ready to move forward. Here are some statistics on the effectiveness of CTAs across all industries: l More than 90 percent of Web site visitors who read your headline also read your CTA (Unbounce). l E-mails with a single CTA increased clicks 371 percent and sales 1,617 percent (Wordstream). l Forcing visitors to watch an informational video on their services before presenting a CTA increased conversions

“Most consumers have social media accounts and use them to research and follow a company’s products and services. It is an exciting marketing channel that offers many possibilities.”

by 144 percent (QuickSprout). l Adding CTAs to your Facebook page can increase click-through rate by 285 percent (AdRoll). l A CTA within a video gets 380 percent more clicks than normal sidebar CTAs (QuickSprout). There are multiple ways you can use CTAs to promote your marketing tools. The important thing to keep in mind is to make sure the CTA is appropriate and aligned with where the customer is in the sales process. A CTA used inappropriately will turn off the customer. For example, a CTA requesting a referral from prospects would be inappropriate since they haven’t done business with you yet. Here are some CTA suggestions: E-mail CTAs A great place to put CTAs is in your e-mail signature. Every e-mail prompts the recipient to take some action. General CTAs are appropriate for everyone, such as Download My Mobile App, or

displaying your social media links. Apply Now or Apply Online CTAs can also be part of your e-mail signature as well. But they are not applicable to every e-mail recipient, such as a real estate agent or past customers. Another great place to put CTAs is in the body of the email. This associates a specific action to the purpose and message of the e-mail. For example, e-mail to prospects could include CTAs like Apply Now, Contact Me, or Visit my Web site for the latest rates. An e-mail to past customers could include a CTA requesting referrals. Web site People visit Web sites to research companies before deciding on a lender. In a recent study: l Ninety-two percent of borrowers researched companies online before contacting a lender. l Seventy-two percent researched for the best rate. l Fifty-nine percent researched loan options. l Fifty percent researched lender trust.

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Your Web site has many opportunities to include CTAs to help consumers learn more about you and your services. Given what information your consumers are looking for online, it’s important to have CTAs to help them find this information and answers to their questions. Here are a few possibilities: CTAs to view rates, use loan calculators, download mobile apps, apply now or see your reviews. It’s also important to have links to your social media accounts on your Web site. Social media provides another informational channel to learn more about you and your company on a deeper level. Your social media accounts are a great way to build trust and create a community of followers during the sales process and beyond.

Conclusion One of the misconceptions of marketing tools is “If you have it, they will use it.” Whether it is having a Web site, a Business Page on Facebook, or a mobile app, each tool needs to be promoted. However, rather than promoting each tool individually, placing CTAs in

strategic locations to promote all your tools increases their

usage and ultimately generates better sales results.

Chris Carter is founder and president of Market Focus Inc. Market Focus created Mortgage Quest, a CRM and marketing database for the mortgage industry. They also created an automated social media posting service called BlazingSocial.com, which includes mortgage videos and infographics posted seven days a week to Facebook, LinkedIn and Twitter. Chris may be reached by phone at (858) 586-1224 or e-mail Chris@EMarketFocus.com.

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

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

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

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Always stay in touch with the market when on the go with our Mobile Web App. It's fast and easy to use. Whether you have an iPhone, Android, Blackberry, Windows Phone, you'll always have access to MBS Highway. No downloads, no annoying updates, just visit m.mbshighway.com in your phone or tablet's browser.

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Social media “Likes” and “Shares” are standard social media metrics used to measure engagement. While Likes and Shares are important, it is difficult to track if a like or a share results in an actual sale. CTAs added to your social media posts provide a better way to track the effectiveness of your social media marketing. Here are a few examples of CTAs you can add to social media posts to increase traffic to your Web site and online apps: Apply Now, Get Prequalified, Start My Application, Download My Mobile App, Check Out Our Website, or See Current Rates. Keep in mind … it is inappropriate to always include CTAs in every post. For example, you wouldn’t want to include an Apply Now CTA in holiday posts, such as a Happy Mother’s Day post, or other non-industry posts. One powerful technique to increase traffic to your Web site is to show the social media content on your site. For example, when someone clicks on a video post, the person is redirected to a page on your Web site to view the video. After they view the video, they will be on your site with access to your other online apps and information about the company. This technique is difficult to do manually and requires an advanced posting

tool to create the link to your site page to show the infographic or video.

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Lights, Cellphone, Action! Using video to make you a sales superstar!

tudies tell us that cellphones are now being used more than laptops and PC’s. Cellphones are in everyone’s hand or pocket and they have so many new tools inside of them, its mind boggling! We now use cellphones for everything and actually they have replaced many things we have used in the past like video recorders, cameras, scanners, compasses, music players, recorders, flashlights, banking, ordering food, working out, meditating, address books, dieting, reading books and are even helping us sleep! It’s all in one small computer we can carry around with in our pocket, just like Steve Jobs said in January 2007 when he released the first smartphone. Now many of your normal smartphones have amazing tools on them, but one very important tool is its video capability. That’s what we are really talking about here. And with regards to video, I want to talk about some great ideas and programs there are out there, that you can use to make yourself a “Sales Super Star” and stand out from the rest.

By Shirleen Von Hoffmann

Video updates No matter how far advanced, buying a home is still exciting to a buyer. So give them videos of their home or updates as many times as you can, it’s a big deal and the most expensive thing in their lives. Once they receive your video, they will most likely share it on social media and remember you forever! Two important items … be aware of the fact your video will most likely be shared on social media and make sure not to share personal facts or too much information. Keep it simple, use first names or no names, don’t film addresses and make sure it’s professional-looking and professional-sounding—short and sweet works!

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Video, video and more video The more creative the follow up is, the more you stand out, the more they remember you. Sending creative videos are so much better than a boring, computer-generated “Thank You” cards. If you feel like you have run out of ideas for following up with clients and past clients, stay tuned. The list of ideas I am going to give you in this article, will give you many creative ways to follow up and more using video! Beware Before you take off into video land … make sure all of the video that you send out is branded for social media distribution. It’s vital that your videos are branded with your

Now that we you know what video e-mail is, let’s dive in to some ways to use video in your business.

“The more creative the follow up is, the more you stand out, the more they remember you. Sending creative videos are so much better than a boring, computer-generated ‘Thank You’ cards.”

company logo, your name and contact information. All of your videos will most likely be shared on your client’s social media and you want their friends and family to see your branding when they view your videos or photos. Video e-mail Video e-mail allows you to video yourself from your phone or PC, talking to your client or showing your client something you want them to see. Once you set up your account, all of your video will be branded. When clients look at the video, you will know and know for how long they looked. They can respond back to you by simply hitting the reply button as they normally do. It’s a video sent via e-mail. With your phone, you can easily film yourself or anything around you in the field. You simply open the app, hit the video button, record your video message, bring up their e-mail and push send. It’s that

easy … three steps and you are sending a message that is very different from any other email. The company Bomb Bomb has made some amazing strides in this category and not only gives you a video button in Gmail to use instead of plain old emails, but also has a Prompt Program to reach out to your database on a regular basis with pre-made videos from you that go along with their already done, monthly marketing campaigns. Its marketing made easy. Remember, when you used to do a video and then try to send it and it was a complete hassle? Video e-mail makes all of that go away and it becomes a two-second task. In Bomb Bomb, there is a video library where videos you have made can even be reused. There are many video e-mail programs out there waiting to make your life easier.

File update videos I love to do updates on files, via video. The first example would be you in a video email, to the client, giving them an update on their loan, checking in, rate and program updates, got your documents everything is going great updates! This is a creative way to stay in touch, have them see your face and do something no one else is doing. Team video Also, another idea is to share a video with the sales agent where you both are high-fiving and looking at the camera saying, “Hey Winston Family … guess what? You’re approved!” It’s another fun, creative way to deliver happy information. It also bonds you with the agent and makes the client feel as though you and the agent are a team working in tandem for their benefit. It’s easy to do these short videos when you are doing a weekly visit with the agents and send them off on your video e-mail. The videos can be for multiple stages of the escrow that could be turned into mini celebrations. In addition, you could do video e-mail with your team and do short videos of important changes on the file

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together. For instance, docs are off to title, loan is approved, loan is funded and include your mortgage staff, processors, underwriters and funders. Also, doing team video for introductions detailing what they do and who they are going to be working with going forward, items needed, next steps, celebrating holidays, approvals, closings and recording any community outreach, are all reasons to share a video with your clients. Through video, everyone engages and makes a statement to the client that you cared enough to do it, your team is fantastic and they get to know your team’s faces. It just makes them feel good because most lenders simply send a form letter in the mail.

Closing video Having a fun, short closing ceremony where you record the homebuyers cutting a ribbon, toasting and walking into their newly closed home is a wonderful closing gift and so sweet. It also doesn’t cost you a dime!

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

Save the Date

NRMLA A’’s 2019 Annual Meeting November 18-2 18 20 2 Nashville, TN N More info at: www.nrmlaonline.org/events

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Video for third party validation YouTube and the Internet are filled with video. Using video for third-party validation is an amazing sales tool. For instance, if you are talking about benefits of homeownership, and how it can be a tax deduction. You simply find and send the video link to them and educate them about those benefits, but it’s not YOU telling them, it’s the various legal sites or tax companies! It keeps you from talking about something that’s not your expertise and could be legal complication for you. Instead, you use a third-party to educate them! This idea can be used for many topics that are confusing to consumers. The possibilities of utilizing video with cellphones are limitless! With the right tools, video can change how you do business and video could make you a Sales Super Star, at no extra cost to you!

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Home progress video For new homes, take video of your client’s new home, while you are on-site, as their construction progresses and send these videos weekly. Video e-mail makes it easy to look right at the cellphone camera and say, “Hey Mr. Miller … I am on-site today and just noticed the roof going on your new home and thought I would send you a quick video so you could see it too (point the camera at the roof to show them and back at you)! Hope all is going well … talk soon!” And press send! Your video email will arrive in their inbox with your branding on it and surely be shared on social media. Again, the ideas are endless. As you drive around the community, you could do video about new employers, shopping and schools being built in the area. For resale homes, you can

do a walk-through video and send it to them as a gift and give them video of the home as it gets repairs, or share neighborhood, school and community information. As they make changes to their home, they will appreciate the original video you did to compare it later on down the road.

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Content Marketing Trends for the Mortgage Industry in 2019 By Patrick Foster ontent marketing is the cornerstone of any marketing strategy. It increases leads, boosts engagement and significantly builds your customer base. But it’s always worth evaluating your content strategy to make it better and more profitable.

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Use video for a content strategy that resonates While 2018 was the year of video, it’s a trend that has only continued to grow in 2019. Video as a content format is huge, with customers shopping in a range of B2C and B2B industries consuming it on a regular basis. Seventy-eight percent of consumers watch video online every week, and 76 percent of businesses who incorporate video into their content strategy report higher traffic as a result. Consequently, video is a popular format that delivers real results to businesses. Video’s popularity lies in its accessibility. A good video is concise and engaging, delivering meaning in a digestible format. Rather than poring over reams of copy, your clients can receive informative or interesting content at the touch of a button. And video is also easy to create. In the past your business would need expensive cameras or software to make a video. But today, there are dozens of free or affordable video editing suites available, and most smartphones come with sophisticated cameras that are perfect for the job. Takeaway tip: Video is ideal for creating simply explainer videos for first-time mortgage buyers. Many novices to the industry are confused by the process and terminology of mortgages. Create a video explaining the process in layman’s terms. This gives you authority in your clients’ eyes,

“Promote your content across multiple social channels. Use a social scheduling tool to make light work of your content promotion, and encourage conversation by asking readers to comment.”

increasing leads for your business as a result. Collaborate with micro influencers to generate new leads Businesses using influencers to propagate their message is nothing new. For years, commercial brands such as Pepsi and Chanel have collaborated with celebrities to create content that drive leads and increase brand awareness. But it is the rise of microinfluencers that forms a major content marketing for 2019. These are social media stars who command modest but highly engaged followings online. The typical microinfluencer has between 10-100k followers, and occupy specific niches such as women’s fitness or cookery. While low in number, these followers are more aware of the micro-influencer’s content and message by virtue of their close-knit community.

Consequently, when microinfluencers share content, their followers genuinely engage with it. Part of micro-influencers’ allure is that virtually any business can benefit from them, even those in the mortgage and lending industry. Mortgage professionals should look at their target demographic(s) and identify which influencers they engage with most online. For example, if your clients are first-time millennial buyers, you should seek influencers that specialize in home decor, budget planning, or similar issues that first-time mortgage buyers might face. Takeaway tip: Once you’ve identified those microinfluencers that resonate with your target market, reach out to them to collaborate. Encourage them to create a post (or series of posts) that expound on your business’s mortgage offering. Let them

emphasize your good rates and reliable service in their own style, and you’ll soon see the leads trickling in. Find more tips on using micro-influencers for your mortgage or lending business here. Embrace voice assistants for the future of search It’s likely that most, if not all of you, reading this received a voice assistant in your Christmas stocking last year. Alexa, Cortana, Siri, or Google Assistant—even if you don’t own one, you’ve probably used or wanted one in the last year. But voice assistants are more than just conveniences for the home. They are increasingly leading the way in search engine queries. An estimated 50 percent of all searches will be made via voice assistants by 2020, and 30 percent of which will be made without a screen. So, what does this mean for the mortgage industry? The answer lies in simplicity. For the inexperienced, the world of mortgages and lending is an impregnable one, fraught with legalese and complex systems. But voice assistants force businesses to be simple with their content, making it bitesized and digestible. Those answers that are succinct but precise will rank highly, resolving more prospective client queries. Those mortgages businesses that consistently deliver useful, ranking answers will experience greater brand loyalty from buyers. This in turn generates more leads for your business by delivering consistent but concise value. Takeaway tip: Optimize your content for voice search by identifying questions that your target market frequently ask (AnswerThePublic is a handy tool that’s free to use). Create a Frequently Asked Questions section that answers these queries in simple, concise terms. Remember … complex answers results in lost leads. Keep it simple and see your traffic soar. Create local content for local success In the mortgage industry, location matters. When people

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The best content marketing strategy is one that is continually evaluated and amended. Truly successful businesses are those that spot key trends early and capitalize on them, enjoying higher sales and traffic as a result. Use the tips above to create a content marketing strategy for your business that delivers in 2019.

Patrick Foster is an eCommerce nerd who loves to work with new businesses and help them reach their audience. He’s passionate about all things digital and technology and currently contributes to a variety of entrepreneurial websites, along with being the content leader for Ecommerce Tips. Patrick has been published on Forbes, Digital Marketing Magazine, Google’s Startup Grind and plenty of other great publications! He may be reached by e-mail at Patrick@ecommercetips.org or call (503) 445-9568.

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Build a community for your mortgage business with social On the face of it, social media and the mortgage industry are like chalk and cheese. Instagram and Facebook surely lend themselves more to commercial brands like Pepsi

or Wendy’s than more prosaic mortgage businesses. However, we are increasingly seeing mortgage companies implement and benefit from a sprawling social media presence. It’s ripe for sourcing new clients and growing awareness of your brand. But social media really works for the mortgage industry by building a contentdriven community. Regularly cascading your blog content across social media creates a valuable touchpoint where your clients, industry associates, and fellow mortgage professionals can come together and have conversations. While visual-centric social platforms like Instagram might seem unsuitable for the mortgage industry, it actually makes sense. Instagram, in particular, is one of the largest and fastest-growing channels out there. As such, a social strategy caters to your audience by going to where they are active most. Takeaway tip: Promote your content across multiple social channels. Use a social scheduling tool to make light work of your content promotion, and encourage conversation by asking readers to comment. Remember to respond to your audience too— it is this that will build community around your mortgage business in 2019.

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are dealing with key financial decisions such as mortgage brokering, they want to do it face-to-face. Your customers frequently use local keywords to find mortgage professionals in their area. Consequently, the location of your business is important and building your local SEO profile by creating relevant local content should be a crucial part of your 2019 content strategy. Create content that touches on local issues. For example, you could write a post that evaluates the average mortgage rate for a particular neighborhood (whilst positioning your own offering as an affordable, reliable alternative). Further optimize this content to hit regional keywords for your business’s location, and combine them with industry keywords related to your business. For example, “commercial mortgage brokers in Wantagh, N.Y.” This helps get your business ahead in those all-important local Search Engine Results Pages (SERPs), helping you generate local leads. Takeaway tip: The more specific you go with your regional and business keywords, the higher traffic you’ll see for your content. If your business covers a borough for example, create content optimized for each separate neighborhood in that borough.

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How Video Marketing Is Changing the Game for Mortgage Professionals By Jacquelyn Knoll

ost lenders who are familiar with social media have probably noticed the large quantity of videos online, whether they be from colleagues, co-workers or even homebuyers. Between live video content and pre-recorded videos, film is becoming much more prevalent in marketing, especially in the mortgage industry. Now, the real questions that people want answers to are: Why it works, how to excel at it and why all lenders haven’t jumped on the bandwagon. Being put on the spot online, particularly on video, can definitely be intimidating. However, it can also be one of the greatest marketing techniques that a professional in the mortgage industry can use to their advantage. This is the primary reason why mortgage professionals use video, as well as the reason that some don’t. The ones who utilize this tactic most likely have seen great success. However, the ones who do not are simply nervous, and probably have never marketed themselves in such a way, ever before. The use of video gives lenders the ability to informally meet potential homebuyers, as well as answer any questions that clients have or need clarification on. With that being said, it would be beneficial to loan officers and mortgage companies as a whole to create live videos on social media platforms fairly often. Let’s begin with a main contributor as to why video marketing is flourishing, specifically on social media. The word through the grapevine is that Millennials are taking over today’s housing market, which is 100 percent accurate. They are at an age where they are ready to put down roots and start the buying process. To put things into perspective, the average Millennial owns seven or more devices connected to the Internet. That’s 644 million smartphones, tablets, laptops and other digital technology

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spread across an entire generation. They are living on social media and they love creating and tuning into live videos. Utilizing film keeps marketing interesting, for what is otherwise a “boring” industry in the eyes of some viewers. Rather than scrolling through their newsfeed to read every post, they will click on a video to listen to what a loan officer has to say, without an obligation to interact until they’re ready. With that being said, understanding the target audience for such a new marketing strategy is crucial in the success of any campaign. Now that the target audience is defined, it is easier to jump into the discussion about the key ingredient to creating success videos, which is the content itself. There are so many forms of video content, that it’s almost impossible to have a hard time coming up with things to talk about. Let’s first take a look at live Q&A videos. This is currently being done by many successful professionals in the mortgage industry. Imagine marketing a live Q&A event for days, possibly weeks leading up to it. At this point, there is potential for a mass number of possible homebuyers to be tuning in to watch. This gives homebuyers the opportunity to ask any questions they may have, without giving up all of their personal information. When homebuyers aren’t ready to take the first step, that is a main reason that they won’t give a loan officer the time of day. Now, after getting all of their questions answered, the lender that became their “mortgage expert” online, will most likely be the one to close a deal in months, or even the next year. Also, it is always a good idea to have frequently asked questions prepared, just in case viewers are reluctant to start making inquiries. This usually gets the ball rolling, and shows that the lender at hand knows their stuff. With that being said, live Q&A videos are probably one of the most top-rated, free marketing pieces that are at the hands of each LO.

Additionally, it’s important to remember that potential homebuyers are always more inclined to trust a loan officer who they have a relationship with, and who they trust. Every lender is also a person outside of the office … no one is simply a loan officer. Working on relationship-building by simply showing homebuyers some insights into the life of a LO can be an important first step. While out doing something exciting, pick up a phone and shoot a quick video. At this point, you’re not simply answering questions, but rather, connecting with individuals and providing them with entertainment throughout their day. Start a short live video and share an experience with all of the followers who are interested in listening. They will start to engage, not only on a professional level, but a personal level as well. Potential homebuyers will start to notice small things that they may have in common with their lender, which ultimately can spark a conversation and open the doors to a new opportunity. A homebuyer won’t want just anyone dealing with their loan; when the time comes, they will choose someone that they know and trust. Who better to choose, than someone they feel they have gotten a chance to know? Take advantage of this strategy, build strong relationships with potential borrowers, and start a live video. There are also tactics that seem to slip everyone’s mind when it comes to video marketing. Basically, anything that can be done in a typical marketing campaign, can be incorporated into video. While there are many regulations when it comes to the mortgage industry, there are some incentives that can still be utilized without breaking the rules. Many mortgage companies have

special giveaways such as tshirts, magnets, car decals, etc. that they give to homeowners when a deal is closed. Why not give these items away to followers on social media, who are showing their support as well? When marketing an upcoming video that will be broadcasting, it would be to the lenders advantage to include a tagline such as “The first 10 people to tune in will receive the latest holiday gift that we have in store,” or “The first 10 people to ask questions will be put into a drawing to win a new, limited edition piece.” Always check with your operations team for compliance regulations that might be in place for such things. It’s even possible to offer free access to the latest “Homebuyer’s Guide eBook.” Everyone loves free things, and if they can access it with a few simple clicks, they will most likely do so. This will bring traffic to the videos at hand, will get each lender’s voice heard, and if the marketing piece has their logo on it, that’s free advertising! All in all, video marketing is growing just as fast as today’s housing market. In order to keep up with today’s digital world, and bring in new business from Millennials who are looking to buy, video marketing will be the key to success. Even if there is already an outstanding social media marketing campaign thriving, the incorporation of video content can’t slip through the cracks. This digital takeover in the mortgage industry has become more than a convenience. It has become a priority for lenders. With Millennials being the target audience for many social media marketing pieces, each mortgage company must stay up-to-date, ensuring that their efforts are being directed down the right path. At this point in time, that is where video content lies. Don’t let the fear of unknowing let it stop a well-put-together campaign from exceling; while in the office today, begin advertising for next week’s first weekly Q&A event.

Jacquelyn Knoll is marketing coordinator at WebMax. Her role produces lead generation from various marketing and sales angles, including writing opportunities, social media content production and reaching out to prospects directly. Jacquelyn may be reached by phone at (856) 702-6412 or e-mail Jacquelyn.Knoll@WebMaxCo.com.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE’S

calendar of events 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. Thursday-Saturday, June 6-8 MBA/WBA 2019 Annual Meeting & Convention Snow King Resort 400 East Snow King Avenue Jackson, Wy. For more information, visit MontanaBankers.com. Thursday, June 20 MBA’s Document Custody Workshop Ritz-Carlton, Tysons Corner Tysons Galleria 1700 Tysons Boulevard McLean, Va. For more information, visit MBA.org.

Thursday, July 18 MBA’s 2019 Condominium Lending Workshop Marriott Marquis 901 Massachusetts Avenue NW Washington, D.C. For more information, visit MBA.org.

AUGUST 2019 Wednesday-Friday, August 14-16 MMLA 2019 Annual Lending Conference Crystal Mountain Resort & Spa 12500 Crystal Mountain Drive Thompsonville, Mich. For more information, visit MMLA.net. Monday-Tuesday, August 26-27 NEXTSummer19 The Gwen Hotel 521 North Rush Street Chicago For more information, visit NEXTMortgageConference.com. SEPTEMBER 2019 Wednesday-Thursday, September 11-12 MBA’s 2019 Human Resources Symposium The Hyatt Regency, Crystal City 2799 Jefferson Davis Highway Arlington, Va. For more information, visit MBA.org. 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, 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.

Thursday-Friday, September 19-20 2019 VMLA Annual Convention Richmond Downtown Marriott 500 East Broad Street Richmond, Va. For more information, visit VirginiaMLA.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.

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. Sunday-Tuesday, September 22-24 MBA’s 2019 Regulatory Compliance Conference Grand Hyatt Washington 1000 H Street Washington, D.C. For more information, visit MBA.org. Sunday-Thursday, September 22-26 2019 Northeast Conference of Mortgage Brokers and Professionals Hard Rock Hotel & Casino 1000 Boardwalk Atlantic City, N.J. For more information, visit MBANJ.com. 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.

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. Tuesday-Thursday, November 19-21 MBA’s Accounting and Financial Management Conference 2019 Marriott Marquis San Diego Marina 333 West Harbor Drive San Diego For more information, visit MBA.org.

Saturday, October 26 mPowering You: MBA’s Summit For Women in Real Estate Finance Austin Convention Center 500 East Cesar Chavez Street Austin, Texas For more information, visit MBA.org

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

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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.

Sunday-Tuesday, September 15-17 MBA’s Risk Management, QA & Fraud Prevention Forum 2019 Sheraton Grand Chicago 301 East North Water Street Chicago For more information, visit MBA.org.

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JULY 2019 Wednesday-Thursday, July 10-11 MBA’s CREF Market Intelligence Symposium 2019 NYU Global Center 238 Thompson Street New York, N.Y. For more information, visit MBA.org.

Monday-Wednesday, July 22-24 The Appraisal Institute 2019 Annual Conference Hyatt Regency Denver at Colorado Convention Center 650 15th Street Denver For more information, visit Appraisalinstitute.org.

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COMPLIANCE CONSULTANTS

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

BOOTS ACROSS AMERICA TOUR 2019 Beverly@BootsAcrossAmerica.org Certified Military Home Specialist Beverly Ray Frase "Training Boots on the Ground" Since 2009 • Trained 3,000 CMHS course grads • Trained for Depts of HUD, Treasury & more • 20+ years' experience in real estate & finance, military life COMING TO YOUR CITY!

FEDERALLY-CHARTERED BANK

Providing HELOC solutions to the mortgage broker industry since 2006 serving most major markets in the US. Ask about the new broker compensation progam with Stand-Alone HELOC’s! TCF Bank - Relationship Lending 1405 Xenium Lane N, Plymouth, MN 55441 763-337-5516 Email: ELUCorporate@tcfbank.com web: tcfbank.com/brokerloans

COMPLIANCE CONSULTANTS

HARD MONEY/PRIVATE LENDING

LENDERS COMPLIANCE GROUP 167 West Hudson Street - Suite 200 Long Beach | NY | 11561 | (516) 442-3456 www.LendersComplianceGroup.com

Direct Private Money and Bridge Lender specializing in Stated Loans in CA 866-668-2663 Send Scenarios to info@CalHardMoney.com

The first full-service, mortgage risk management firm in the country, specializing exclusively in mortgage compliance. Pioneers in outsourcing solutions for mortgage compliance.

ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation’s top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions.

EDUCATION

Our Compliance Team Will: Leverage your existing employees. Improve your productivity. Collaborate on projects. Make the most of your current technology. Bring innovation to your company. Be a strong cultural fit. Free you to focus on your core competencies. Give you access to world-class expertise. Lower your total operational costs.

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

PRIVATE FINANCING

WHOLESALE/CORRESPONDENT LENDERS

Greenbox Loans, Inc 3250 Wilshire Blvd., Suite 1900 Los Angeles, CA, 90010 (800) 600-9198 www.greenboxloans.com Greenbox Loans, Inc. is a proven leader in the Non-QM & Non-Prime lending environment offering bank statement programs, foreign national lending solutions, along with programs allowing for recent short sale, foreclosure, bankruptcy for borrowers as low as 500 Fico Score. Greenbox Loans, Inc. is a national lender offering its programs through a multiple of channels including Retail, Wholesale, and Investor Specialty division.

PUBLICATIONS

FUTURE EVENTS

WHOLESALE LENDERS

REMN Wholesale www.remnwholesale.com 866-933-6342

Interested in joining our Wholesale Division? Send your resume to aerecruiting@remn.com

Go to http://nmpmag.com/mostconnected

WHOLESALE LENDERS

n National Mortgage Professional Magazine n MAY 2019

RECRUITMENT

NationalMortgageProfessional.com NationalMortgageProfessional.com

REMN has FHA, USDA, 203k, VA and Conventional solutions to fit the needs of your customers. But, at REMN, our most valuable product is our people. The REMN Sales and Operations Teams give you - and your loans - the time and attention that you deserve. Even better, at REMN, same-day approvals are guaranteed.* You can rely on us to get the little, yet vital, things taken care of on time.

YOU BELONG HERE.

ENGAGE YOUR AUDIENCE In-house production studio and team

MANAGE YOUR PIPELINE GoGo LO mobile app

BUILD YOUR REPUTATION Automatic posting of your positive online reviews

GROW YOUR PARTNERSHIPS Co-branded marketing with your real estate partners

CATER YOUR MARKETING In-house print room and marketing material library

EXPAND YOUR REACH Award-winning marketing team that works for YOU

WE PROVIDE THE TOOLS. YOU BUILD YOUR FUTUR E .

MAY 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

Join Our Team! 888.978.8608

teamnewamerican.com

Visit www.AngelOakMS.com or call 855.631.9943 Simply The Best Solution in Non-QM Wholesale and Correspondent Lending g. ÂŠ Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 980 Hammond Drive, Suite 850, Atlanta, GA, 30328. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be off ffeered by or in conjunction with HUD, FHA, VA, the U.S. government or any ffeederal, state or local governmental body. This is a business-to-business communication and is intended ffo or licensed mortgage proffeessionals only and is not intended to be distributed to the consumer or the general public. Each application is reviewed independently ffo or approval an nd not all applicants will qualify fy ffo or 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. MS675_0419