MAY 2021
nmp
Volume 13, Issue 5
TAKE ADVANTAGE
MAY 2021
Roiled By Rate Sensitivity
and the
8 OPERATING AGREEMENT TIPS for
New Brokerages Making A Deal At First Sight
LETTER FROM THE PUBLISHER
Till We Meet Again
O
ur sister organization, the Originator Connect Network, produces more than two dozen live mortgage conferences across the country every year. That lineup took a bit of a shellacking in 2020 when Covid shut the nation down. But as May rolls out, so do OCN live tradeshows and events, first in Memphis and next in San Antonio. Naturally, we try to keep tabs on what others in the industry are doing for meetings. In April, two private lending conferences took place: one in Miami, the other in Newport Beach, Calif. We watched as pictures from these events were posted online by exhibitors and attendees, all of whom seemed thrilled to be back together in person. Honestly, we were envious. But we were also horrified. The rooms were packed: clearly people wanted to be at the conference, and a lot of them were. Hundreds. These didn’t look like Covid conferences. They looked like everything was back to being pre-Covid. That’s right, everything. That’s where the envy comes in. But it’s also where the horror rests. In Miami, for example, what stood out was a large ballroom, with folks crammed at tables, and no one – really, no one – wearing a mask. Indoors. With lots of strangers. Who just got off planes from hot spots across the nation.
TAKING IT SLOWER, SAFER We’re thrilled that vaccines are now readily available, and so many have taken them. But we’re still concerned that so many are refusing to do so. This disease has proven across the world that it fights back. States may take away mask mandates, but they’re not repealing common sense. Even if a mask isn’t legally mandatory, it’s a good idea until we get a better handle on this virus. Our OCN group produced six live mortgage conferences last fall, when Covid was rampant and no vaccine had yet been introduced. Every event was held to high safety standards, and the attendees and exhibitors all gave them good marks on our exit surveys. This isn’t to pass judgment on how others convene. Everyone has to make their own determination of what they feel safe doing. We get the desire to meet again, and to do so as though everything is back to normal. But we’re not there yet. At OCN shows, we’re still enforcing a mask requirement and trying to keep some social distancing in place. We know the rules are loosening up, and we’re cheered by that. Maybe as vaccinations hit a higher level, this slack will feel more comfortable. In the meantime, we’ll be more cheered by knowing that we put no one in danger when they come to our shows, even if they tell us they’re happy to take the chance.
VIN CE N T M. VALVO Publisher, Editor & CEO
4
NON QM
Of DPA Programs AN INSIDE LOOK:
| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
Robert Senko, president of ACC Mortgage, stayed bullish on Non-QM despite Covid
TERRIBLE, HORRIBLE, NO GOOD, VERY BAD YEAR (and why it’s finally getting better)
Volume 13, Number 5
STAFF CEO, PUBLISHER & EDITOR Vincent M. Valvo ASSOCIATE PUBLISHER Beverly Bolnick SENIOR CONTRIBUTING EDITOR Keith Griffin CONTRIBUTING WRITERS Lew Sichelman, Erica LaCentra, Harvey Mackay, Pam Marron, Nick Roberson, Mary Kay Scully, James Potter Charlet STAFF WRITER Katie Jensen GRAPHIC DESIGN MANAGER Stacy Murray INTERACTIVE DESIGN DIRECTOR Alison Valvo USER EXPERIENCE DESIGNER Billy Valvo ONLINE CONTENT DIRECTOR Navindra Persaud MARKETING & EVENTS ASSOCIATE Melissa Pianin HEAD OF ENGAGEMENT AND OUTREACH Andrew Berman FOUNDING PUBLISHER Joel Berman
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