NMP National Mortgage Professional November 2021 by ambizmedia

NOVEMBER 2021

Volume 13, Issue 11

THE XX FACTOR INSPIRATIONAL

WOMEN In Mortgage REGULATORS

REARING UP HOW TO

BUILD TOP TEAMS TALKIN’ ABOUT

TikTok

> SPECIAL SECTION

TOP MILITARY LENDERS

BACK COVER

PARTNER WITH THE LEADER IN NON-QM MORTGAGE LENDING MORE EXPERTISE | MORE SERVICE | MORE TECHNOLOGY

Visit AngelOakMS.com | 877.926.3073 ©Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 980 Hammond Drive, Suite 850, Atlanta, GA, 30328. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-tobusiness communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public. Each application is reviewed independently for approval and not all applicants will qualify for the program. Angel Oak Mortgage Solutions LLC is an Equal Opportunity Lender and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, other classifications protected under Fair Housing Act of 1968. MS_A252_1220

FRONT COVER

Hey, Irvine! The California Mortgage Expo is one of California’s largest mortgage events for loan origination professionals, bringing together hundreds of mortgage brokers, loan originators and bank and credit union lending officers from throughout the region for an event full of education, networking and fun. You’ll be growing your business and your contacts in a setting packed with passion, professionalism and fun. Thursday, Dec. 9th, 2021

Irvine, CA

+ Free NMLS Renewal Class December 10th

www.camortgageexpo.com Enjoy free registration using our code OCNFREE

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REVERSE MTG SPONSOR

+ Join us for our Holiday Party in Irvine, CA December 9th, immediately following the show!

SHOW PRODUCER

Safety is our top priority. Learn about the safety precautions we take at each of our events to earn us 100% safety satisfaction from our attendees at originatorconnectnetwork.com/covid19. Complimentary registration available to NMLS-licensed active LOs and their support staff. Show producers reserve the right to determine final eligibility.

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

NOVEMBER 2021

Volume 13 Number 11

CONTENTS

nationalmortgageprofessional.com

4 In Appreciation… After many months of tumult, let’s all stop and give thanks for the mortgage pros who have kept the wheels of housing finance turning.

18 My First Million: Stumbling To Success First failures may put you down. But you’ll never get to success if you stay there.

6 Pride Of Place Being a mortgage originator is great. Being a producing branch manager? So. Much. Better. 8 Tok Of The Industry Mortgage marketers shouldn’t be rushing into TikTok without really understanding what they’re getting into. 10 The Ties That Bind Regulators are ratcheting up their efforts to restrain and restrict the mortgage profession.

26 Women Who Inspire National Mortgage Professional salutes this year’s selection of women in the industry whose work elevates the standard for everyone. 33 My Best Deal 34 Best Military Lenders National Mortgage Professional tips its cap to this year’s selection of lenders and originators who put in the extra effort for military borrowers

2021

15 Build-A-Broker: Get A Better Handle On What’s Coming Your Way Why top brokerages spend the time to get their business forecasting right.

22 Heard By NMP Pithy pieces of perspective by mortgage industry insiders.

COVER STORY PAGE 26

NMP MAGAZINE EXCLUSIVE

38 Best Military Originators

47 Wholesaler Directory

42 DataBank

50 OriginatorTech Directory

43 Non QM Showcase

52 Facebook Thoughts: AKA, ‘The Great Bagel Revelation.”

2021

13 People On The Move See who the movers and shakers are in the mortgage industry.

20 Teamwork Takes You To The Top The best mortgage companies and brokerages are teams of people working to reach a common goal. How do you make sure your employees see the right plays?

PAGE 34

PAGE 38

nationalmortgageprofessional.com

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

NOVEMBER 2021 LETTER FROM THE PUBLISHER

Volume 13, Number 11

STAFF CEO, PUBLISHER & EDITOR Vincent M. Valvo

Thanks, To You

t is that time of year when we sit back and count our blessings, giving thanks for those people and things that have enriched us, supported us, brought us joy or made a difference. I would be seriously remiss if I didn’t

first thank everyone who works here at American Business Media. Our team is incredibly dedicated, thoughtful and invested in the mission we have to serve the mortgage industry. They’re also, frankly, some of the nicest people you will ever run into. Which brings me to the topic of running into mortgage pros. I have the privilege of running nearly 30 live mortgage events across the nation every year. From Atlanta to Oakland, from Mohegan Sun to the Las Vegas Strip, from Detroit to Phoenix, I get to mix and mingle with industry vendors, with brokers, appraisers, LOs, bankers and marketers. Let me say, it’s a wonderful world of innovation and experience, and it’s uplifting to see so much talent and energy focused on being the best in the industry. Sure, vendors sell stuff. But the stuff they’re selling is something that solves a problem: it’s tech that makes things easier, or a loan product that gives an originator more opportunity, or a service that gets more deals closed. And at these events, I’ve seen rooms packed with originators who are just starting out, and originators who’ve had decades of experience. The seasoned pros know they need to keep learning. But it’s also pretty common to see them taking a newbie aside to help that neophyte work out a game plan. And the new blood is there to soak up every idea possible, to be the best they can be – both for their own careers and for the benefit of their clients. There’s a lot of bad stuff in the world. But across this nation, there’s a lot of good, too, and it’s a wonderful thing to see this little part of the economy show us all that, together, we make a force for good. How can you not give thanks for that?

VIN CE N T M. VALVO Publisher, Editor & CEO

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

ASSOCIATE PUBLISHER Beverly Bolnick EDITOR David Krechevsky SENIOR CONTRIBUTING EDITOR Keith Griffin CONTRIBUTING WRITERS Lew Sichelman, Erica LaCentra, Harvey Mackay, Nick Roberson, Mary Kay Scully STAFF WRITER Katie Jensen DIRECTOR OF STRATEGIC GROWTH Alison Valvo GRAPHIC DESIGN MANAGER Christopher Wallace MARKETING MANAGER Michael Castro GRAPHIC DESIGNER Stacy Murray 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

Submit your news to editorial@ambizmedia.com If you would like additional copies of National Mortgage Professional Call (860) 719-1991 or email info@ambizmedia.com

www.ambizmedia.com

© 2021 American Business Media LLC All rights reserved. National Mortgage Professional magazine is a trademark of American Business Media LLC. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to: American Business Media LLC 345 North Main St., Suite 313 West Hartford, CT 06117 Phone: (860) 719-1991 info@ambizmedia.com

Howdy, Austin! Get excited about live events! Join your community of mortgage professionals at the Lone Star State’s largest mortgage event, The Texas Mortgage Roundup. Don’t miss out on our lineup of engaging events centered around networking, skill-building, and kick off your year having a great time with your peers at our edition in Austin. Tuesday, February 8th, 2022

Austin, TX

+ Free NMLS Renewal Class February 9th

www.txmortgageroundup.com Enjoy free registration using our code OCNFREE

PRESENTING SPONSOR

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TEXAS

MORTGAGE ROUNDUP

Safety is our top priority. Learn about the safety precautions we take at each of our events to earn us 100% safety satisfaction from our attendees at originatorconnectnetwork.com/covid19. NATIONAL MORTGAGE PROFESSIONAL MAGAZINE | 5 Complimentary registration available to NMLS-licensed active LOs and their support staff. Show producers reserve the right to determine final eligibility.

AVE HERSHMAN

RECRUITING, TRAINING AND MENTORING CORNER

Why You Are Lucky to Be A Manager in The Mortgage Industry BY DAVE HERSHMAN | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

here are a significant number of headaches associated with being a manager in the mortgage industry. Most managers are producers which occupies most of their time fighting fires and getting loans to closing. Plus, recruiting, mentoring and coaching loan officers takes much effort and time, which interferes with production. We also get to be psychologists and sometimes marriage counselors. Regardless of all of these obstacles, being a manager can be quite rewarding – especially in this industry. Why is this a privilege, not a burden? Here are a few reasons: First, this is one of the most important industries in America. We are not talking about size here. It is a large industry, of course. The industry is so important because the activity of purchasing and/or financing of a home represent the most important economic decision most people will make in a lifetime. A loan officer helps people with this very important decision and typically does this with little training and even less direction. It is significant to note that people do not go to college with a curriculum of loan officer. So, there is no

preparation for this industry before they get here, unlike accounting or teaching. And there is no indepth training like there is for a stockbroker once they arrive. Yet, what we do is even more important than advising on the purchase of stocks or taxes. Thus, as a loan officer delivers a great service to Americans and does so in such a way that they can make a lot of money and be very independent, a manager has an even better privilege. A manager helps people develop careers in the mortgage industry. In essence, no one can help more people with this important decision than a manager. And there is nothing more satisfying than helping someone develop a career in such an important industry. In some ways, every loan officer in this industry is running their own business. Obviously, if this is true for a loan officer it is even more on point for a manager within this industry, whether this manager is managing their own company or for a larger company. In other words, there are few industries that enable you to independently exercise your entrepreneurial skills as much as the mortgage industry. In this respect, having little training and direction available for managers in the industry is an opportunity rather than an obstacle. You can also make a lot of money as a manager, you are very independent and you help

people develop careers in the most important industry in America. What more can you ask for? Well, there is an additional important point. A loan officer has no safety for continuity of income in case of a slump or sickness. You don’t produce next month and you don’t get paid. A manager of a producing office produces a stream of income regardless of their production level. Obviously, personal production helps produce a large stream of income— but management can provide a base below that stream. In effect, this is a type of residual income. Finally, management and/or ownership represent examples of career advancement opportunities in this industry. These opportunities do not end at this juncture. Larger production organizations provide additional opportunities. A branch manager can become a regional manager or head of production. Small companies can become large companies. The better managers tend to produce these opportunities. And that is what our management course is about—helping you find the tools, support and direction to become a better manager and more importantly, a leader.

Dave Hershman, senior vice-president of sales for Weichert Financial Services.

A manager of a producing office produces a stream of income regardless of their production level.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

RICA LACENTRA

THE XX FACTOR

Tok Of The Town? Or A Ticking Bomb? The rise of TikTok in the mortgage industry BY ERICA LACENTRA | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

ikTok, the extremely popular social media platform, has been around since 2016 but within the last couple of years has been picking up traction with more mainstream adoption and use. The platform now has over a billion active users, with over 130 million of those active users residing in the U.S., making it especially appealing for businesses to consider using as the next big thing to advertise their brand and attract new customers. The mortgage industry has always seemed to be a bit behind the curve when it’s come to marketing trends, so it’s no surprise that many companies in this space are not currently using TikTok, although that is slowly changing.

that is probably not their target demographic as this is not exactly the age range for individuals looking to purchase or refinance a home, or invest in real estate. However, Gen Z are not the only generation on TikTok. The notorious Millennial generation also has a decent presence on the platform, and accounts for nearly 26% of users. Yes, that does seem like a large drop compared to Gen Z, but 26% of 130 million active U.S. users is still not too shabby, and for the last It is extremely enticing to think about

five years, millennials have made up

being able to get your company and

the largest share of home purchase

brand in front of such a large audience

mortgage applications, reaching

almost instantly However, popularity

54% of all purchase applications in

aside, there are certain things

2020. This means there actually is a

companies in the mortgage industry

significant opportunity for companies

should consider before hopping on the

in the mortgage industry to get in

TikTok bandwagon.

front of potential customers but,

CONSIDER YOUR TARGET AUDIENCE

just like you must develop a unique strategy for other social media platforms, what exactly is the best

Over a billion active users is no small

way to engage with individuals on

number of potential customers to be

TikTok?

able to introduce your company to, the average demographic of TikTok

UNDERSTAND HOW THE PLATFORM WORKS

users. The largest portion of TikTok

It should go without saying that

users, 60%, are between the ages of

a company shouldn’t attempt to

16 and 24 (think Gen Z). For many

promote itself using a platform

companies in the mortgage industry,

or method it doesn’t understand,

however, it’s important to think about

A company shouldn’t attempt to promote itself using a platform or method it doesn’t understand.

but sadly this is one of the number one reasons why companies may be struggling to utilize TikTok. Companies see the hype but fail to take the time to understand why users use the platform and what they use the platform for. Like most social media platforms, TikTok is not the right place to try to make a hard sell. Overt promotions are simply not going to be effective for TikTok’s user base, so companies going in with that strategy in mind should rethink their approach. Take the time to create a personal or small business account and dive into the platform. Start by watching videos, following successful competitor accounts to understand what kind of content they are posting, and following large brands to see how they are finding success marketing via TikTok. Also, like other social media platforms, hashtags matter. Research what hashtags are popular or trending, and figure out what relates to your brand or could apply to future company content. Keep in mind though that relevancy is key so make sure the hashtags you end up using are applicable to the content you post. Following this strategy will go a long way to capturing your audience’s attention. Also, like other social media platforms, TikTok also has paid advertising opportunities, such as brand takeovers, native ads, sponsored hashtag challenges and branded lenses, that companies should research and learn more about before shelling money out. Plain and simple, companies need to understand that before expending any time and energy on TikTok, they have to understand the platform and what will appeal to its users.

BE UNIQUE AND BE AUTHENTIC When it comes down to it, TikTok is a social media platform meaning users are typically using it for entertainment so its important to focus on developing creative content that engages your audience. Most of the content on TikTok isn’t necessarily extremely polished, and

most users don’t take themselves too

and how you will portray your company

seriously with what they post. This is an

on TikTok, it’s time to start rolling. It

opportunity to show the more fun side

will most likely take time to be able to

of your brand but you don’t necessarily need to re-invent the wheel. Look to see what type of videos are getting the most engagement and put your own spin on

understand and develop a deliberate strategy but just remember that like any good marketing initiative, be consistent

it. It could be a video of your office doing

with how often you’re posting and the

a hashtag challenge dance or a quirky

type of content you’d posting and keep

video tour meeting the “personalities” of

tabs on what is and isn’t getting good

the office. All that really matters is that

engagement just like you would any

you content displays your unique brand identity and personality and is able to tell your company’s story in an entertaining way. That is the real key to ultimately

other initiative. Once you’ve gotten into a good rhythm, your company will have yet another useful tool for attracting and developing potential business.

being successful on TikTok.

GET FILMING Once you have an understanding of the

Erica LaCentra is Chief Marketing Officer for

platform and have figured out your niche

RCN Capital.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

LEW SICHELMAN

THE MORTGAGE SCENE

Regulators Are Back In The Saddle There’s not only a new sherriff in town, it’s a whole gang of them. BY LEW SICHELMAN | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

s it me, or are the Consumer Financial Protection Bureau, the Federal Trade Commission and other federal regulatory agencies far more active under the Biden Administration than under the previous regime? Nah, it ain’t me. The regulators are, indeed, been doing a better job lately in coming down on scofflaws than they did from 2016 to 2020. Release the Kracken. In the last few months, the CFPB has rebuked, among others, a California software company for aiding and abetting credit repair outfit that was charging unlawful upfront fees, the FTC came down on a Georgia collection outfit for threatening to arrest people who wouldn’t pay debts they didn’t owe, and the Federal Reserve Board slapped a Minnesota bank for violating the National Flood Insurance Act. No wonder Pennsylvania Sen. Pat Toomey, the ranking Republican on the Senate Banking Committee, expressed his concern

about the Biden Administration taking over where the Obama White House left off when it comes to holding businesses’ collective feet to the fire. During the confirmation hearing for Rohit Chopra as the next CFPB director, Toomey said he has “grave concerns that Commissioner Chopra would return the CFPB to the lawless, overreaching, highly politicized agency it was.” Since the CFPB’s creation a decade ago, Republicans have been diametrically opposed to the watchdog agency. They don’t like its single-director structure, nor the fact that it is funded through the Federal Reserve Board instead of the more traditional budgetary process. And they don’t like Chopra – who was eventually confirmed 50-48 along party lines and who has his roots in the beginnings of the agency he now heads. During the previous administration – the one between Obama and Biden – the CFPB pretty much looked the other way – or, as one observer put it, “drastically scaled back” its enforcement actions. “It was (in) stark contrast to how the bureau was run under the Obama Administration, when it aggressively collected fines...and returned billions of dollars in damages to borrowers,” this person said. Now, the CFPB is back, and Chopra, was wasn’t confirmed until October, has put the housing finance sector on notice that not only will his agency go after companies which violate the law but also their officers and

directors when the CFPB believes they “have meaningfully participated in unlawful conduct or negligently turned a blind-eye” to it.

FINDING RACISM As I sit at my keyboard for this month’s story, the CFPB, the Department of Justice and the Office of the Comptroller of the Currency have just cited Jackson, Miss.based Trustmark National Bank for alleged discriminatory redlining by “purposely” not marketing, offering or originating mortgages to consumers in majority Black and Hispanic neighborhoods in the Memphis market. The CFPB and DOJ also charged Trustmark with discouraging people living in those neighborhoods from applying for credit. “The federal government will be working to rid the market of racist business practices,” Chopra said in announcing what amounts to a nearly $9 million action – a $5 million fine and $3.85 million to increase access to credit in the areas impacted by the company’s redlining activities. “Today, we are committing ourselves to addressing modern-day redlining by making far more robust use of our fair lending authorities,” added Attorney General Merrick Garland. “We will spare no resource to ensure that federal fair lending laws are vigorously enforced and that financial institutions provide equal opportunity for every American to obtain credit.” And OCC’s Acting Comptroller, Michael Hsu, warned

that the case “signifies the unified and unmitigated focus that each of our agencies has placed on enforcement” It’s also worth noting that during his remarks about the case, Chopra said his agency will be watching closely for digital redlining, or so-called neutral algorithms that reinforce biases. “While machines crunching numbers might seem capable of taking human bias out of the equation, that’s not what is happening,” he said, pointing to an academic study of some 2 million mortgage applications that found Blacks were 80 percent more likely to be denied by an algorithm when compared to Whites with similar financial and credit histories. Mortgage companies maintain that the data does not present the full story. But Chopra says that defense illuminates the problem. “When consumers and regulators do not know how decisions are made by the algorithms, consumers are unable to participate in a fair and competitive market free from bias. Algorithms can help remove bias, but black box underwriting algorithms are not creating a more equal playing field and only exacerbate the biases fed into them,” he said. “We should never assume that algorithms will be free of bias. If we want to move toward a society where each of us has equal opportunities, we need to investigate whether discriminatory black box models are undermining that goal.”

RED NOTICE In announcing the Trustmark case, Garland also revealed a new DOJ program to combat what he called “modern day redlining.” Under the “Combating Redlining Initiative,” which will be run through the Civil Rights Division’s housing and civil enforcement section, will look for violations in concert with the states and other financial regulatory agencies, placing a renewed emphasis on non-depository lenders. “We will spare no resource to ensure federal fair lending laws are vigorously enforced,” the Attorney General said. The Trustmark case is just the tip of the proverbial iceberg. Since Biden took up residence in the White House, federal regulators have been particularly active in the mortgage sphere. In one case, for example, the CFPB took action

“When consumers and regulators do not know how decisions are made by the algorithms, consumers are unable to participate in a fair and competitive market free from bias.” against the American Advisors Group for deceptively marketing reverse mortgages. Actor Tom Selleck may trust AAG, but the government does not. According to an analysis by the Inside Mortgage Finance newsletter group, gripes against mortgage-related outfits by seniors increased by more than a third during the first half of this year. Those with issues about their reverse loans were up 12.3 percent. And if the charges against AAG are on the money, it’s no wonder complaints are up so significantly. In its marketing materials, the company said it “makes every attempt to ensure the home’s value information provided is reliable.” But the CFPB says, in fact, AAG made no attempt to do so. Consequently, consumers were lured into negotiations with the Irvine, Calif.based company on the basis of inflated value. Not only that, but the CFPB also said AAG violated a 2016 administrative consent order that addressed the company’s deceptive advertising. A proposed consent order would prohibit AAG from future unlawful conduct, and require the company to pay $173,400 in consumer redress and a $1.1 million civil money penalty. For what it’s worth, IMF also reported that complaints against the three major credit reporting companies – Equifax, Trans Union and Experian – topped the list of complaints to the CFPB in the third quarter. Squawks about credit reporting and credit repair services accounted for nearly two-thirds of all the complaints the agency took in during the period. Meanwhile, lenders should hope they haven’t been doing business with Critical Resolution Mediation or Seed Consulting in collecting delinquent accounts. Both have come under the FTC’s eagle eye, CRM because it posed as police and attorneys to threaten consumers over fake debts – debts they didn’t owe – and Seed for, among other things, opening

multiple credit card accounts in the names of unwary consumers. Remember the old adage: You are known by the company you keep. In Seed’s case, the outfit pitched training companies as a way to get funding to people who wanted to start a business or become real estate investors. But according to the FTC complaint, rather than provide any funds, the company charged people $3,000 or more to apply for numerous credit cards, a practice known as credit stacking. It told consumers they would make enough after they completed their training to pay off their cards, which they used to pay for the programs sold by the training companies.

FLY-BY-NIGHT This kind of thing smacks of how “flyby-night” – in this case, they tend to advertise on late-night television – real estate gurus hawk their training programs; you know the ones that promise that you, too, can get rich quick by following our training program and investing in our how-to-do-it manuals. It also reminds this writer of a certain so-called university named after an ex-president who promised to teach you how he made it big in real estate. I don’t know whether TU actually used the tactics described above – it wasn’t charged with that crime, so it probably didn’t – but I never saw a class on how to file for bankruptcy more than a few times. Ah, but I digress.

Lew Sichelman is a contributing writer to National Mortgage Professional magazine. He has been covering the housing and mortgage sectors for 52 years. His syndicated column appears in major newspapers throughout the country. He also has been the real estate editor at two major Washington, D.C., dailies and spent 30 years on the staff of National Mortgage News, formerly National Thrift News.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

Protect. Strengthen. Grow.

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HOW NMP’S MONTHLY SECTION OF HANDS-ON PRACTICAL ADVICE

BUILD A BROKER How A Cloudy Crystal Ball Will Blindside You YOUR FIRST MILLION DOLLARS How Peak Performers Move Past Failure How Top Teams Come Together CAREER TICKER: People On The Move

PEOPLE ON THE MOVE //

> Angel Oak

Cos. appointed David Raju its Group chief information officer.

> Guaranteed

Rate hired Arlyn J. Kalinski to serve as compliance director, Limited English Proficiency (“LEP”) Program.

> Consolidated

Analytics, an end-to-end mortgage solutions provider appointed Bob Hora as the company’s chief operating officer.

> Residential

mortgage professional Derrick Polder and his team joined CrossCountry Mortgage.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

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BUILD-A-BROKER: HANDS ON PRACTICAL ADVICE

SPONSORED BY

BUILD-A-BROKER

How Poor Forecasting Can Sabotage Your Business Plan

evenue forecasting is one of the most critical elements of a business plan. Accurate forecasting can help you validate the business case for your new product or service and help you build trust among future investors and partners. Poor forecasting, on the other hand, can sabotage your business before it even gets off the ground. And yet, many startups don’t give their forecast the attention it deserves. They end up getting the numbers wrong … by a long shot. If a startup goes under, it’s most often within the first two years and is usually a direct result of poor financial management and the business running out of capital. Revenue forecasts are one of the most overlooked areas of the business plan, yet an accurate and realistic forecast is vital to the health and longevity of a business.

A QUICK REVIEW— WHAT IS FORECASTING? The concept of revenue forecasting is pretty straightforward. Simply put, it’s the calculation of the amount of money a company will

receive from sales during a particular period. Most companies determine forecasts for a period of time in the future based on actual sales revenue earned in the past. For a startup, this presents an obvious problem with key variables of the forecasting equation being unknown. Forecasting can feel like throwing a dart blindfolded. Why is it such a critical step in the business planning process? When starting out, your reputation is what you’re selling. If you’re trying secure funding or recruit the right team, you need to sell them on your vision and dream. Backing that up with realistic revenue expectations based on researched data is one way of the most important ways to show your key stakeholders that you’ve developed a firm business case for a product or service that can be profitable. As the owner of the business about to make a large investment of time and money into your new venture, solid, accurate projections are the clearest way to also prove to yourself that your investment will be a profitable one. Informed projections based on indepth research, quality data and an understanding of your target market

back-up your belief in your product or service and show you’ve done your homework to validate your idea as one that’s worth pursuing.

THE THREE COMMON FORECASTING TRAPS ENTREPRENEURS FALL INTO Giving the revenue forecast its deserved place in a business plan isn’t an easy task. So, why is it that forecasts are a challenge for startups? The Lack-of-Data Trap. It’s difficult, if not impossible, to forecast accurately when starting your business. For all other businesses with historical data, past metrics are used to project profits and losses. This data is simply not available when you’re starting out. The Over-Simplification Trap. Confident entrepreneurs typically project growth linearly with consistent growth over time. This creates what looks like a ‘hockey stick’ graph – a forecast that the startup will have stellar growth that keeps going up and up indefinitely. Investors will immediately meet hockey stick graphs with skepticism, knowing the projection is oversimplified. The Not-Based-in-Reality Trap.

PEOPLE ON THE MOVE //

> Mortgage

Contracting Services, a national provider of residential and commercial property services, selected Craig Torrance to serve as CEO.

> Jerry Sundt and his team joined CrossCountry Mortgage.

> Homebridge

Financial Services, Inc.’s chief diversity and inclusion officer, Brian White, was joined the Mortgage Bankers Assoc.’s Diversity, Equity and Inclusion Advisory Committee.

> Jack Levi

joined Angel Oak Mortgage Solutions as an account executive.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

HOW: HANDS ON PRACTICAL ADVICE

SPONSORED BY

Similar to assuming immediate and consistent growth right out of the gate, entrepreneurs tend to cherrypick data and leave out other critical pieces of the puzzle. Demand for your product, competition, market size, pricing, and marketing expenses are just a handful of the elements of a well-developed forecast that a surprising number of owners omit.

factor in what your management team expects and pair that with the estimated demand for your products or services at your proposed price points. Think ahead to all of the potential company or market shifts and how those changes may impact sales, such as: · Price changes or promotions · Seasonal or cyclical factors including economic activity · Marketing and branding changes · Erratic events like strikes, fads, or disturbances to the market

HOW TO AVOID THE PITFALLS AND CREATE A SOLID STARTUP REVENUE FORECAST The first step in the process is learning how to avoid what’s referred to as “confirmation bias.” We usually test to prove that our hunches are correct, which is where things can go wrong in the revenue forecast. It’s your job as an entrepreneur to be aware of this pitfall and find ways to reduce or eliminate confirmation bias. Once you’ve addressed and mitigated your confirmation bias, there are two primary areas of the plan that you need to lock down before you can accurately project revenue for your first twelve months. 1. Understanding Market Demand Market demand for a product is the anticipated total volume purchased by a defined customer group in a defined geographical area during a defined period of time in a defined environment. Once you understand market demand, you can estimate your company’s potential share of that market. Also, consider how you’ll gain market share. Will you steal it

from your competitors? Or, will your product or service open up opportunities to create new market share? You’ll want to estimate future market demand for your products or services based on the growth of sales in the industry and changes in market share. A place to begin when accessing market demand for your product or service over a competitor could include asking yourself questions like: · What is the market’s capacity for my product or service? · Who may enter the market after me? · What makes my business valuable and can I clearly communicate the value to customers? 2. Sales Forecasting Here’s where things get a bit more challenging. Accurately predicting future sales is perhaps the most difficult part of the revenue forecasting process. You’ll need to

Consider quantifying your sales forecasts in terms of ranges rather than absolutes. This communicates to a potential lender, VC firm and your partners and staff that you’re the type of owner who’s realistic and operating under a biased methodology. It also gives you the freedom to evaluate and adjust your sales and overall revenue projections after your business gets started and build even greater trust with key players along the way.

YOU’VE DONE YOUR RESEARCH. NOW WHAT? Now it’s time to consolidate all of your research and newly gained insight and document your startup revenue forecast for your first year of business. Our Financial Projections Template can help you begin the formal process and documentation of calculating everything from start-up expenses to anticipated cost of goods sold, income statements, and more, as well as run a break-even analysis.

PEOPLE ON THE MOVE //

> Waterstone

Mortgage Corporation named Kris Barros as the company’s vice president of compliance.

> Angel Oak

Mortgage Solutions added Lorenzo Dillon to its team of account executives.

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

> Mortgage

Connect LP named Meghan Jones-Rolla as the company’s chief operating officer, Servicing and Capital Markets.

> Mike Haslett

was hired to Angel Oak Mortgage Solution’s team of account executives.

SPONSORED BY

LEADERSHIP LESSONS

Endurance Wins The Day Success is never assured, but quitting will assure it is never achieved.

BY HARVEY MACKAY | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL

stumbled across a quote recently by psychologist Angela Duckworth that really caught my eye. She said “Enthusiasm is common. Endurance is rare.” I’ve written a number

I have known, told the

fourth of eight children.

story of a woman in his

Her stepfather was often

organization that was the

out of work so he danced

top salesperson – out of

and sang to help support

1,200 people! When she

the family. At age 11, she

broke all the sales records,

was cast in a Broadway

Zig asked her how she did

play with her brother.

of columns about the importance of

it. She replied, “God didn’t

Many years later she

enthusiasm, and I don’t believe it is

make me with an off-

landed one of the lead

common or easy. Getting enthusiastic

switch.”

about something and staying enthusiastic are not always the same. Endurance, on the other hand,

Dale Carnegie, one of the most successful inspirational writers of all time, said: “Flaming enthusiasm,

still thriving today. Another star of a TV smash hit is

requires enthusiasm first and staying

backed up by horse sense and

Jerry Seinfeld who was booed off a

power after. It’s often extremely

persistence, is the quality that most

comedy-club-stage after only three

difficult to soldier on when an idea

frequently makes for success.”

minutes. That rejection didn’t deter

or project is faced with obstacles and

The world is full of examples of

him, as he kept perfecting his stand-

resistance. But if it’s worth doing,

people who endured. Michelangelo

up act at clubs all over New York until

endurance is the key.

endured seven years lying on his

he landed a role in the 1980s sitcom

That’s why I strongly believe in the

back on a scaffold to paint the Sistine

“Benson” and then his own self-titled

motto “Those who endure, conquer.”

Chapel. NASA experienced 20 failures

sit-com and rocked him to fame.

ON, AND ON TOP

in its first 28 attempts to send rockets into space.

Zig Ziglar, a master motivator and one of the most enthusiastic people

characters in the TV blockbuster “Sex and the City.” She’s

Sarah Jessica Parker was born in a poor coal-mining town in Ohio, the

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BELIEF Rapper Jay-Z couldn’t get a record deal and sold his first CD out of his

“Don’t pray for lighter burdens, but for stronger backs.” car. He ended up founding his own record label, Roc-A-Fella Records, and is regarded as one of the most influential hip-hop artists in history. Howard Schultz of Starbucks fame knows the power of endurance firsthand. He contacted more than 200 investors looking for his first original loan in acquiring the firm. After a year of rejections, he was able to secure the $400,000 needed from a doctor and two other individual investors. Today, Starbucks is one of the most recognizable brands with more than 32,000 stores in 83 countries and nearly 350,000 employees. Surfer Bethany Hamilton was only 13 years old when a shark bit off her left arm. Less than a month later she was back on a surfboard and is one of the top women surfers in the world, winning several competitions.

Motivational speakers Jack Canfield and Mark Victor Hansen pitched the original “Chicken Soup for the Soul” book to more than 130 publishers before they found a small publisher in Florida who said yes. Their endurance was rewarded, as nearly 300 “Chicken Soup for the Soul” books have now been published and more than 500 million copies sold worldwide. Religious leader Gautama Buddha advised, “Don’t pray for lighter burdens, but for stronger backs.” Philosopher Jean Jacques Rousseau said, “Endurance and to be able to endure is the first lesson a child should learn because it’s the one they will most need to know.”

MAKING A DIFFERENCE Heard enough? In all walks of life, endurance is often the difference

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between success and regret. Stick-toitiveness is never a sticking point for determined people. I love the story of the high school basketball coach who was attempting to motivate his players to endure through a difficult season. Halfway through the season he stood before his team and said, “Did Michael Jordan ever quit?” The team responded, “No!” He yelled, “What about Tom Brady. Did he ever give up?” “No!” the team responded. “Did Wayne Gretzky ever quit?” Again, the team yelled “No!” “Did Elmer McAllister ever quit?” There was a long silence. Finally, one player was bold enough to ask, “Who’s Elmer McAllister? We’ve never heard of him.” The coach snapped back, “Of course you never heard of him. He quit!” Mackay’s Moral: Getting the job started is simple compared to getting the job done.

“I cannot express how grateful I am to have a broker relationship with Ridgewood. Time and time again, you’re the lender I count on for personal attention and unparalleled service.” Mary Ann Scaggs Sr. Mortgage Loan Originator Purchase, NY

www.ridgewoodbank.com

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HOW: HANDS ON PRACTICAL ADVICE

SPONSORED BY

MARY KAY SCULLY

BENCHMARKS & BEST PRACTICES

The Name Of The Game Is Teamwork Everryone’s got to work toward the same goal, and for the same good.

BY MARY KAY SCULLY | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

hen it comes to loan origination, each team players’ goal should be the same, to close that loan. It’s not something that any one person can do by themselves. It’s a group effort that takes everyone’s unique skills and abilities, much like a team sport. As one team, it should be our priority that we have each other’s backs as we work together to get more people into homes and achieve the dream of homeownership. Think about each of your players: your appraiser, your real estate agent, your processor, and so on. Then, ask yourself, “how does everyone’s job affect one another and how can everyone better collaborate as a team in order to get people into homes?”

LOAN ORIGINATORS MUST SET EVERYONE UP FOR SUCCESS

Loan originators stand ready at tip off to get the game started. It’s in their hands to set everyone up for success. LOs have to

begin by taking a complete application. It is their job to ensure that they have all the critical information that everyone needs included on the application. They are responsible for working closely with the borrower to get all the boxes checked at the beginning. From a remote perspective, it may be a challenge as they are no longer physically touching the file as they once did in an office. While it may be easily accessible from a virtual perspective, LOs are wading in new territory. Many have probably built a new virtual routine by now, but, regardless, LOs must stay on top of their game in order to ensure the remainder of the team also can be successful when it’s their turn.

AFTER THE SAME GOAL

We’re all on the same team not just with other industry partners, but with the borrower as well. To close the loan successfully, everyone must be working alongside the borrower to set a timeline and meet that end goal in a timely manner. This can best be done by staying in constant contact with the borrower. You can’t just call the borrower once and expect them to call you back – you must be vigilant. As an LO, consider yourself the player in possession of the ball until it reaches the goal. The key is to be proactive and make it a priority to get the loan closed so the ball doesn’t get dropped. According to Ring Lead, 80% of calls go to voicemail and 90% of first-time calls never get returned. This means that the borrower could be the very one holding up their own timeline. If you are not persistent, things can fall apart easily and quickly. Focus on the end goal and help the borrower understand their critical role as part of this team.

TEAMING UP WITH OUTSIDE SOURCES For LOs, there are lots of outside sources that assist with helping your team close a loan and secure a win. Some of these sources may not have as much to do with closing the loan, but are focused on giving LOs access to information to help determine if the borrower is viable and the loan can be facilitated at all. Consider these resources part of your game plan. This can be challenging for LOs because you have less control over the vendors, but still need them to participate and act as a member of your team. Vendors that provide things like credit reports and appraisals – even though LOs can’t directly speak with the appraiser and other outside sources – play a vital role in closing a loan. These sources also can be investors like Fannie Mae, Freddie Mac, FHA and VA for loans. Although these vendors have goals and initiatives of their own, the key is to get them on your side and work together to meet the goal of closing the loan.

REACHING THE FINAL BUZZER LOs have a difficult job that has been forced to see adjustments due to the pandemic. Although your normal isn’t what it was two years ago, the end goal is still the same. Whether working from your home office or in your in-office space, your job does not change. Each loan provides a new opportunity to build your team and win the game of helping borrowers fulfill their dream of homeownership. Mary Kay Scully is the Director of Customer Education at Enact, leading the development of the company’s customer education curriculum. The statements in this article are solely her opinions and do not necessarily reflect the views of Enact or its management.

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Visit JoinAPM.com or contact Dustin Block at 303.378.3166. ©2021 American Pacific Mortgage Corporation | NMLS #1850. American Pacific Mortgage is 35% employee-owned and 65% independently owned. NATIONAL All information contained herein is intended for mortgage professionals only and not for public distribution.

MORTGAGE PROFESSIONAL MAGAZINE |

heard by In our daily email newsletter, our weekly NMPTV showcases, or our monthly publication, NMP magazine brings you the strategies and observations of the top executives in the mortgage world. The industry’s best share their views. Here are some of their observations from the past few weeks, as heard by NMP.

“The mortgage market has historically been plagued by racial discrimination, and recent data show ongoing disparities in the terms offered to minority borrowers by traditional lenders.” —Dr. Daniel Shoag Associate Professor of Economics Case Western University

“The mortgage market has historically been plagued by racial discrimination, and recent data show ongoing disparities in the terms offered to minority borrowers by traditional lenders.” —George Ratiu Manager Of Economic Research Realtor.com

“As we look ahead to the next year we expect our Rocket Mortgage business to achieve continued market share growth, exceeding 10% share in a purchase-heavy market.”

“People want bigger: Bigger houses, bigger properties. If people are living in a small cookie-cutter home right now, they want a larger house with extra rooms and a dedicated place for an office.” —Chriss Houghton Agent Redfin

“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.” —Rich Barton Co-Founder and CEO Zillow

—Jay Farner CEO, Rocket Cos.

Jay Farner

George Ratiu Danny Shoag 22

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Rich Barton

Chriss Houghton

By If you give an investor a real estate loan. Then they will ask for competitive terms. When you give the investor competitive terms. They will ask for top-tier customer service. The investor will remember they have diverse scenarios and ask for nationwide funding. With these potential opportunities, they will want a real estate loan.

If you want a real estate investment loan, contact us today! Visit RCNCapital.com \ Email Info@RCNCapital.com \ Call 860.432.5858 RCN Capital, LLC is licensed as a California Finance Lender under Department of Business Oversight license number 60DBO-46258. Arizona Mortgage Banker License BK-0932325. Oregon Mortgage Lending License: ML-5571; NMLS Company ID: 1045656.

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STAY ON TRACK AND RENEW YOUR LICENSE 5 STAR EDUCATION 24

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SPECIAL SECTION: NMP MAGAZINE'S INSPIRING WOMEN OF 2021

Leadership, Female Style

n an industry that often runs on swagger and braggadocio, there are times it’s reassuring to step back and pay attention to those in the mortgage world whose work serves as an inspiration to all of us. And given the additional hurdles that women in the workplace have to deal with, we’re especially proud of this year’s selection of National Mortgage Professional’s Inspirational Mortgage Women. To be inspirational doesn’t mean that someone has achieved all their goals yet. It doesn’t mean, necessarily, that they have achieved the pinnacle of their career. It simply means that when we look at this person’s accomplishments, their philosophies, the way they support those around them, that we can find in them a spark that makes us want to be better ourselves. Can we do more for clients? Can we be better mentors to our colleagues? Can we set goals for ourselves to achieve what others have shown is possible? The women on these pages each has a personal story of their success, and in those stories each of us can connect to something that can inspire us to be better in some way. And in that inspiration, we can also find its sibling, admiration. Because while we strive to do as well as these honorees, we also realize that they’ve already done it. So please join with us at NMP as recognize the 2021 class of Inspirational Mortgage Women.

PATTY ARVIELO

MICHELE BUSCHMAN

RACHEL CAPLE

Co-Founder and President New American Funding

Chief Information Officer American Pacific Mortgage

Chief Sales and Revenue Officer Geneva Financial, LLC

What advice would you give to the next generation of female leaders? It’s important to make sure they are aligned with companies that have diversity and being included as fundamental parts of the organization’s ethos. It’s not enough to have a diverse workforce. You also have to encourage and allow everyone to share their voice, their thoughts, their opinions, and their ideas, and their vision.

What is your opinion on the importance of having female leaders in the Mortgage industry? Having a diverse workforce enables a company to be more successful. Everyone brings a unique set of experiences and skills to the table. Having a broader view of the world only benefits companies and individuals. Having female leaders is critical in the industry’s ability to serve the diverse customer base … and to blend in different perspectives, skills and experiences into its strategy, from potentially a different perspective if the leaders were all male.

What has been the most significant barrier in your career? Being quiet about my accomplishments. Many times women run around multitasking, improving process, scaling pieces of the organization without taking the time to recognize the value they bring to the table. This not only hindered my growth but the value I saw in myself. I take time to write down my accomplishments. At the beginning of each year, I write down goals for myself. Reflecting on these accomplishments and goals throughout the year has helped me become more confident in the value I bring to an organization.

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KATRINA CUMMINS

SUZY DJILAS

SHELI FLIEGER

SVP, Learning & Development Envoy Mortgage, LTD.

Enterprise Account Executive SimpleNexus

What advice would you give to the next generation of female leaders? Work life balance is not always achievable and that is OK. Some days, work will take priority when your projects are behind, and you need to put in the extra hours to get them on track. Other days you will have parent teacher conferences, a track meet, and a dance competition to go to and life takes 100% of your focus. You do not need to be everything for everyone all the time – it is OK. All you can do is your best, and your best IS enough!

What advice would you give to the next generation of female leaders? My advice to the next generation of female leaders is to be persistent and never give up on your goals of advancing in the industry. When I started years ago it was very much a male-dominated industry. I have strived to set myself apart by staying positive. I also feel it is important to be open and honest in your interactions with coworkers with a willingness to help your peers out when they have a need.

HELEN GHEBREMICHAEL Director of FP&A and Treasury NRL Mortgage

What is your opinion on the importance of having female leaders in the Mortgage industry? Diversity is an important thing to have in the workplace, whether it is the inclusion of female leaders, various ethnicities/races, or the spectrum of generations. It brings a collection of opinions together and access to a wider range of talent. With the growing number of female homeowners, it is also important to have representation within the industry’s leaders.

JULIAN GREY

Sr. Vice President, Capital Markets and Post Closing Norcom Mortgage Sheli serves as Sr. Vice President, Capital Markets. In this role, her responsibilities include secondary and lock desk management, pipeline risk management, setting hedge positions using TBAs, overseeing hedge positions, and managing loan delivery to mandatory and AOT commitments. Phil DeFronzo, Norcom’s President & CEO, says regarding Sheli, “First, Sheli is smart. She is kind, professional compassionate and someone who is valued very much here at Norcom.”

MARCIA GRIFFIN

EVP, Mortgage & Capital Markets Product Management, Black Knight, Inc.

Founder and President HomeFree-USA

What advice would you give to the next generation of female leaders? Our industry has a long history and rich traditions. But the next generation can and should take the mortgage industry to the next level by embracing diversity and transparency. Helping more American borrowers understand how the mortgage ecosystem works would help the industry overall.

What is your opinion on the importance of having female leaders in the Mortgage industry? Having female leaders is critical. There’s a sensitivity that female leaders bring. In order to be successful, you need to have new ideas and women have a unique perspective. Also, we’ve got to remember that people gravitate toward people like themselves, which is why diversity in the mortgage industry is so critical overall.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

SPECIAL SECTION: NMP MAGAZINE'S INSPIRING WOMEN OF 2021

CARRIE GUSMUS

President, CEO Aslan Home Lending Corporation

Chief Compliance Officer Cherry Creek Mortgage, LLC

TARA HEALY, CMB

LUSHARN HEASTIE

What advice would you give to the next generation of female leaders? Find a female mentor that is genuinely interested in your success. There are so many young women in my company who have the potential to be better than I’ve been. I’m “on the back 9” as I heard one of my male counterparts say. I’d look to follow those young leaders on the first tee.

How did you get involved with the mortgage industry? What keeps you motivated to stay? The person who hired me took a chance with me as I had zero mortgage experience. Being new to the U.S and a new homeowner, I understood how confusing the jargon was and could relate to the stress of obtaining a mortgage. This experience is what still drives me today. To help others, whether directly or indirectly, pursue their own American dream of homeownership is honorable and something I cherish being part of each and every day.

What advice would you give to the next generation of female leaders? We often allow setbacks in one area to make us doubt ourselves in other areas, which can affect our contributions and potential success. Avoid that by mastering the concept of pivoting vs. preserving. Take time to reflect on what is working and what isn’t, and make a quick, calculated decision to pivot to course-correct or preserve to see it through.

KELLI HODGES

MICHELLE JACINTO

ASHLEY KOON-EDWARDS

What is your opinion on the importance of having female leaders in the Mortgage industry? Leading with compassion, and giving caring guidance is needed in our industry. Setting an example for young ladies and showing them it is possible to be in charge, be successful and have a family all at the same time is important.

What has been the most significant barrier in your career? How did you overcome this barrier? I was diagnosed with breast cancer shortly after starting my career in the mortgage industry. I firmly believe that being immersed in getting people into homes helped sustain me as I battled this disease while undergoing treatments. Through overcoming this health challenge, I became a stronger person, with an even stronger commitment to helping and inspiring others.

Chief Operating Officer Mortgage Coach What advice would you give to the next generation of female leaders? To the rising generation of female leaders, I’d say don’t be afraid to speak up, lead, share your ideas and provide your unique perspective. Be proud of your voice and project it front and center. It’s equally critical to invest time in learning the business and being brave enough to ask questions and make yourself heard. .

Chief Diversity Officer Newrez

Branch Manager/Loan Officer Direct Mortgage Loans

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Producing Branch Manager Supreme Lending

JASMINE KRNJETIN

LEAH LANIER

MEGAN MARSH

Sales Manager Waterstone Mortgage

Chief Operating Officer Lenderworks

Co-Founder Keystone Alliance Mortgage

What advice would you give to the next generation of female leaders? Don’t underestimate your ability to succeed – even if you’re in an industry that is traditionally dominated by men. There is a need for your expertise, skills, and individuality. I have many female clients who prefer to work with a female lender; when they are working with another woman, there’s often a unique connection and level of trust that makes them feel more comfortable and confident.

What is your opinion on the importance of having female leaders in the Mortgage industry? Buying a home is the most important transaction of many people’s lives. So, it’s important that our industry look like the people we serve. Women bring a unique perspective and drive to the table, and can be a source of innovation and progress for our industry. I’m thrilled to see an increasing number of women rising into the ranks of leadership, and hope to see the trend continue.

How did you get involved with the mortgage industry? What keeps you motivated to stay? I become involved over 16 years ago after leaving my job as an accountant. I joined a small mortgage brokerage shortly after as a processor but quickly realized I wanted to originate. I loved sales and helping people. It wasn’t long before I was the top producer in my office. Today I’m still motivated by helping borrowers who have been turned down for mortgages.

LAURA MARTELL

TABITHA MAZZARA Director of Operations MBANC

SUE MEITNER, CMB

President Centennial Lending Group

What advice would you give to the next generation of female leaders? This industry finds ways of attracting some of the best and brightest from all backgrounds, take what you can from everyone who you have the opportunity to come into contact with and lean on others around you. We all have stories of getting to where we are today, or having the courage to take the next step because of the other incredible women and men who have been a part of our journeys.

What is your opinion on the importance of having female leaders in the mortgage industry? I think it’s invaluable. Women have a different perspective than men, and that different perspective is important to have, especially when you have a family that’s purchasing a home for their life together, that you have female representation.

What advice would you give to the next generation of female leaders? Being a leader takes hard work and determination. Accept the challenges and tackle them head-on. Everyone strives to have balance. I would recommend you work to achieve being present when in every situation. Draw on your inner strength to make room in your life for all that is important to you.

Executive Vice President Mountain West Financial, Inc.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

SPECIAL SECTION: NMP MAGAZINE'S INSPIRING WOMEN OF 2021

KATY PARSONS

MELINDA N. PAYAN

President The Truth About Lending

VP of Borrower Engagement Finance of America Reverse

What is your opinion on the importance of having female leaders in the mortgage industry? In any situation there is tremendous value in having the leadership be diverse. The unique perspectives and dynamic questions are a huge value-add to any conversation.

How did you get involved with the mortgage industry? What keeps you motivated to stay? One of my clients owned a mortgage company and recruited me. That was in 1997 and here we are 24 years later. What keeps me motivated is knowing how many people we are helping. Behind every loan we do there is a significant difference we make in that homeowner’s life. Whatever their goals are we help make it happen.

What advice would you give to the next generation of female leaders? Don’t give up! Becoming a leader will take work—hard work. However, in the end it’s an extremely fulfilling and amazing role. Having the honor to lead a team here at FAR has been an exciting, challenging, and rewarding experience, and I love being part of this purpose-driven company.

AIMEE QUINN

DIANA RICE-WILKERSON

JAN PRESLO

JILL PORTILLA

Mortgage Broker Advantage Mortgage

Executive VP, Retail Production New American Funding

President Nations Direct Mortgage

What advice would you give to the next generation of female leaders? Always allow yourself to be a creative thinker in bringing solutions to your manager about how the company can improve. Don’t wait for them to ask you for ideas. Be confident in presenting solutions. Look for ways to increase your knowledge. If your company provides mentorship programs, enroll in them. There are lots of free programs provided by vendors and other organizations. If you aspire to advance, ask your mentor, manager, or HR department how to advance in your career.

What is your opinion on the importance of having female leaders in the Mortgage industry? At the end of the day we are here to serve a need to borrower’s mortgage financing which is arguably the largest financial decision in one’s life. It’s important to have leaders that can relate to all borrowers in order to meet their needs.

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Senior Loan Officer Fairway Independent Mortgage Corporation What advice would you give to the next generation of female leaders? My advice for the next generation is to decide what you want to accomplish and invest in yourself 110% to become the BEST at whatever it is. Many females are breaking glass ceilings. Learn from these smart, courageous women. I’d also advise our female leaders to connect with other awesome female leaders and develop solid, supportive relationships. These relationships are priceless, especially when going through a tough time.

NICOLE STEINER

Director, Digital Product Management Rocket Mortgage What is your opinion on the importance of having female leaders in the Mortgage industry? Diversity in perspective is critical for any industry. New ideas are brought to the table when you have people who have different experiences in life. The more we not only welcome and encourage but demand that, the more innovative we will be. Our industry, and our clients, will be better for it.

SAM VERMA

CEO Peoples Processing, Inc. What advice would you give to the next generation of female leaders? I have noticed that far too many women work in isolation because they do not have the right mentors. This is why I am a firm believer in female leaders mentoring other women. We need to have a voice, claim our rightful spot on stage, and publicly demonstrate our interest in mentoring while promoting more female representation at the leadership table.

KIMBERLY WINTERS

NEENA VLAMIS

President and CEO A and N Mortgage Services What advice would you give to the next generation of female leaders? Having collaboration and mentorship between the women running the businesses is an important factor of success. When you have an open mindset, stay positive, lead by example, support each other and never stop learning, there is no limit to what you can achieve.

BRANDIE YOUNG

Senior Mortgage Banker Movement Mortgage

Chief Marketing Officer Candor Technology

What advice would you give to the next generation of female leaders? As a female leader, I would share that people value authenticity, strategic thinking, and expertise. Work hard to empower other women around you. Sit at the table! As women we have superpowers due to our ability to show empathy, to be nurturing and passionate. Giving back by mentoring and elevating people around you builds influence, raises the level of play, and creates a ripple effect of change. Make sure people know they can rely on you and always strive for consistency.

What is your opinion on the importance of having female leaders in the mortgage industry? Women make bold and wise decisions as leaders. This helps make a team environment more cooperative and creative, and builds a strong culture. For an industry that’s been steeped in legacy thinking, this is a crucial part of innovation.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

CONGRATULATIONS to Rachel Caple, Chief Sales & Revenue Officer, a 2021 Mortgage Lending Women of Inspiration Winner

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2021

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MY BEST DEAL

The American Dream For My Entire Family Name: Manuel Martinez | Job Title: Mortgage Broker Business: Success Financial Group, Ontario, CA

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What else? What makes it unique is that most of my brothers and sisters were born in Mexico, and I am sure my parents brought us here to this country over 40 years ago to achieve the American Dream – and me being in the mortgage business for 25+ years just made it a little bit easier to do so.

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2021

SPECIAL ADVERTISING SECTION: 2021 BEST MILITARY LENDERS

ACADEMY MORTGAGE CORPORATION Draper, UT academymortgage.com/

States Licensed All states except for New York. Why does this lender serve those who serve to protect? At Academy Mortgage, our mission is to serve and lift others, whether by helping families achieve homeownership through our products and services or by serving those in our communities in need. We strive to give back to the service members and veterans who have given up so much for our country. As a company, we recognize our responsibility to give back to these service members, their families, and their communities. Why is this lender the best at supporting the military/military borrowers? Academy believes that the American Dream is built upon sustainable homeownership. We recognize that what we do has a noble purpose and that we exist to help make homeownership a reality for as many people as possible, especially those who have served or are currently serving our country. Our branches are committed to helping active service members and veterans become their best and help them become their best selves by attaining homeownership.

AMERICAN MORTGAGE NETWORK San Diego, CA amnetmtg.com/ States Licensed Alabama, Alaska, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Montana, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin, Wyoming Why does this lender serve those who serve to protect? American Mortgage Network has been focused on helping Veterans from its inception, believing that those who have served, or continue to serve, our country should be able to fulfill their dream of home ownership. Why is this lender the best at supporting the military/military borrowers? American Mortgage Network is best at supporting the military/ military borrowers because many of the company’s employees around the country are veterans themselves who have been trained to deliver the best service. They understand veterans because they are veterans.

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CALIBER HOME LOANS Coppell, TX caliberhomeloans.com/ States Licensed All 50 states as well as D.C. Why does this lender serve those who serve to protect? Our military lending effort is committed to meeting the specific mortgage needs of the brave men and women of the United States Armed Forces who serve our country with resolute sacrifice and bravery. We built our commitment to serve through partnerships that focus on active duty & veteran families, and we continue to educate them so they can make well informed decisions around home ownership and understand the benefits in which they have earned. Why is this lender the best at supporting the military/military borrowers? Our military lending effort is committed to meeting the specific mortgage needs of the brave men and women of the United States Armed Forces who serve our country with resolute sacrifice and bravery. We built our commitment to serve through partnerships that focus on active duty & veteran families, and we continue to educate them so they can make well informed decisions around home ownership and understand the benefits in which they have earned.

CARRINGTON

MORTGAGE SERVICES, LLC

Anaheim, CA

carringtonmortgage.com/ States Licensed AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY Why does this lender serve those who serve to protect? Carrington Mortgage Services, LLC is dedicated to giving back to those who fought and sacrificed so much for our country through its loan programs and nonprofit organization. The primary focus of Carrington Charitable Foundation (CCF) is caring for wounded Veterans as they transition out of military service. Through CCF’s mission, Carrington leaders and associates strive to repay the sacrifices these men, women and families have made in protecting our freedom. Why is this lender the best at supporting the military/military borrowers? Carrington Mortgage Services, LLC is proud to offer VA loans to active duty and retired U.S. service members to help make homeownership a reality for those who served our country. CCF’s Veteran-focused Signature Programs focus on helping Veterans by providing Mobility, Stability, Purpose and Prosperity. Since 2011, the CCF Golf Classic has raised over $21 million, allowing CCF to provide diverse ongoing assistance to Veterans. For more information, visit Carringtoncf.org.

DHI MORTGAGE Austin, Texas dhimortgage.com/

EMM LOANS Cherry Hill, NJ emmloans.com/

States Licensed ALABAMA, ARIZONA, CALIFORNIA, COLORADO, DELAWARE, FLORIDA, GEORGIA, HAWAII, IOWA, ILLINOIS, LOUISANA, MARYLAND, MINNESOTA, MISSISSIPPI, NORTH CAROLINA, NEW JERSEY, NEW MEXICO, NEVADA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, SOUTH CAROLINA, TENNESEE, TEXAS, UTAH, VIRGINIA, WASHINGTON AND WEST VIRGINIA.

States Licensed emmloans.com/state-licensing

Why does this lender serve those who serve to protect? DHI Mortgage (DHIM) respects and values the service and sacrifice of U.S. military service members and their families. We recognize that the homebuying process is an important decision and that unique circumstances may impact veterans. Whether it’s a relocation to a new community or entering retirement after a meaningful career, DHIM is honored to support those who serve our country during these transitions. We are here to help make the homebuying experience a positive one.

Why is this lender the best at supporting the military/military borrowers? We employ service members as we believe in helping those who served and service our Country.

Why is this lender the best at supporting the military/military borrowers? With over 35 years of lending experience, DHIM understands the needs of military families, and we work hard to anticipate and accommodate those needs. Our combined knowledge and expertise in VA loan financing adds value to the homebuying experience. We are here to guide VA homebuyers and to help them make informed decisions along the way. It’s an honor and privilege to connect service members to their new communities through homeownership.

Why does this lender serve those who serve to protect? We believe in helping active military members and veterans who have served or serve this Great Nation. We honor and Salute all the amazing people who give everything for our Country and that is why we are proud to offer VA loans.

GATEWAY MORTGAGE Jenks, OK gatewayfirst.com/ mortgage States Licensed Alabama, Arkansas, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Maryland, Mississippi, North Carolina, North Dakota, Nebraska, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, West Virginia, and Wyoming Why does this lender serve those who serve to protect? One of our core values is “Making a Difference”. We honor our responsibility and commitment to impact change and make things better. This dedication is contagious, inspiring our customers, employees, and partners to find places where they make a difference in their own communities with our help. Why is this lender the best at supporting the military/military borrowers? One way we honor the military is every mortgage loan we close, we donate five dollars to Folds of Honor, a nonprofit that provides scholarships to families of those who have fallen or been injured while serving our country. This amounts to nearly $100,000 each year. We also help guide military borrowers as they select the best home loan option for their personal situation.

MORTGAGE EQUITY PARTNERS Lynnfield, MA mortgageequitypartners. com/ States Licensed CT, FL, GA, ME, MD, MA, NH, NC, SC, VA, WA, DC Why does this lender serve those who serve to protect? At MEP, we believe that it is our responsibility to serve those who dedicate their lives to serving others. Our military and their families sacrifice so we can recognize all the freedoms guaranteed to citizens of this country. We are committed to providing safe, affordable home loans to our veterans. Why is this lender the best at supporting the military/military borrowers? MEP is committed to serving others. We believe in building strong communities by making homeownership easier for our nations’ veterans and their families. We support veteran organizations and employ veterans in our operations center and on the sales team. We have insight into how difficult the transition to civilian life can be and believe the sense of stability that comes from owning a home is invaluable. We are proud to provide VA loans.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

SPECIAL ADVERTISING SECTION: 2021 BEST MILITARY LENDERS

MORTGAGE SOLUTIONS FINANCIAL Colorado Springs, CO mortgagesolutions.net States Licensed AL, AZ, AR, NV, CA, CO, NJ, CT, NM, DE, DC, NC, FL, ND, GA, OH, OK, ID, OR, IL, PA, IN, RI, IA, SC, KS, SD, KY, TN, LA, TX, ME, UT, MD, MA, MI, WA, MN, WV, MS, WI, WY, MO, MT, NE Why does this lender serve those who serve to protect? Mortgage Solutions was founded by a retired Air Force Officer who believes that every Veteran should have the opportunity to own a home. Other lenders require a minimum credit score to qualify for a mortgage. The Veterans Administration does not have a required minimum and neither does Mortgage Solutions. Our philosophy is to put the Veteran first, which has put our Country first. Why is this lender the best at supporting the military/ military borrowers? We are a direct lender who follows the VA’s guidelines. This means we don’t impose any overlays on our VA loans. If the VA allows it, we will help our military borrowers get it. Our service members did not place any ‘overlays’ on their service. While other companies choose to put credit score limitations on VA loans, we don’t. That’s why we’ve been able to say “yes” to Veterans who have been turned down elsewhere.

36 36

MOVEMENT MORTGAGE Indian Land, South Carolina movement.com/ States Licensed Movement Mortgage is licensed in all 50 states. Why does this lender serve those who serve to protect? Movement Mortgage exists to love and value people, and we define love this way: “to love is to act in the long-term best interest of another.” Our military men and women act in the long-term best interest of our citizenry every single day. and we want to make sure that we do our part to honor and serve them with excellence in their homebuying journey. Why is this lender the best at supporting the military/ military borrowers? Our Movement Military division was built by military families for military families. Because of that, Movement understands the challenges of activeduty personnel, veterans and military spouses. Our team works tirelessly to make the homebuying process simple, fast and stress-free. Our commitment to serve those who have served us makes us one of the largest VA lenders in the country.

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NEWREZ Fort Washington, PA newrez.com/ States Licensed All 50 states as well as D.C. Why does this lender serve those who serve to protect? Newrez proudly serves America’s military members because we strongly believe in giving back to those who sacrificed to protect our country. While we acknowledge that we cannot fully repay our Veterans and active duty personnel for their sacrifices, helping them land their dream homes through VA loans are a step in that direction. Why is this lender the best at supporting the military/ military borrowers? We proudly support military lenders/borrowers with VA loans through unmatched level of customer service and ease-ofprocess. Our expert loan officers assist them through the process to take full advantage of their military benefit and ensure they are informed of their options. With a Newrez VA loan, there is less paperwork, no mortgage insurance, and little or no out-of-pocket expenses. Our commitment to veterans goes beyond VA loans – we also have a dedicated Veteran ERG.

NEW AMERICAN FUNDING Tustin, CA newamericanfunding. com/ States Licensed: 49 Why does this lender serve those who serve to protect? New American Funding believes that military servicemembers and veterans who have served our country deserve to be served with respect as well. Through our Hiring Veterans Program, we are committed to recruiting more veterans for a variety of roles and supporting them with an in-house mortgage playbook, mentorship, and career training. These veterans, in turn, will serve other veterans, helping them find a home loan and realize their dreams of homeownership. Why is this lender the best at supporting the military/ military borrowers? New American Funding has branches in states with the five highest active military and veteran homeowners. Through our Military Heroes Network initiative, our goal is to increase homeownership and career opportunities for military servicemembers, veterans, and their families. 10.4% of our home purchase loan volume went to veteran and military borrowers compared to 8.8% for the industry (2020 HMDA). We have also committed $12 billion in new mortgages for veteran and military borrowers by 2024.

States Licensed Planet Home Lending is licensed in 47 states, plus Washington, D.C. and Puerto Rico. Why does this lender serve those who serve to protect? Because they serve our nation, we are honored to serve them: Active duty, veterans, military spouses, and reservists are all crucial to our nation’s safety. Giving back to those who spend time away from their families and homes makes perfect sense to us at Planet, and we’re proud to play a part in making sure they can use their well-deserved home loan benefits. Why is this lender the best at supporting the military/ military borrowers? Like they keep their commitments, we keep the majority of the loans we make. Our Mortgage Servicing Team truly understands the unique needs of customers who protect us around the globe. This year, Planet endowed a scholarship via the Army Scholarship Foundation of Dallas, Texas, to provide educational opportunities to the children of current or former Army service members and spouses of current Army service members.

SUPREME LENDING Dallas, TX supremelending.com/ States Licensed ALL 50 Why does this lender serve those who serve to protect? Supreme Lending is honored to serve our nation’s military personnel, Veterans, and their families by providing affordable mortgage solutions to achieve homeownership in the country they sacrificed so much to protect. Their job is the most honorable and difficult—there’s no one more deserving to have a place to call their own.

2021

PLANET HOME LENDING Meriden, CT planethomelending. com/

Why is this lender the best at supporting the military/ military borrowers? Supreme Lending offers a variety of affordable and flexible loan programs for military homebuyers and homeowners, including several VA loan programs. Many times, Veterans and active-duty personnel may not be aware of the types of home loans they could be eligible for, which is why Supreme focuses on educating our military customers about their mortgage options. In 2020, Supreme closed 3,174 VA loans for $1.04 billion in total VA loan volume.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

2021

SPECIAL ADVERTISING SECTION: 2021 BEST MILITARY ORIGINATORS

Sal Ali Arcus VA Mortgage | Loan Officer Lewisville, Texas sal@arcusvamtg.com

Sal Ali is best at supporting military borrowers because he cares about his clients. He assists with tasks not mortgagerelated, including filing homesteads and appealing taxes. He grew up where respect and honesty were instilled at a young age. Now, he has grown to become #3 Loan Originator in the nation, top lending partner for Freedom Mortgage (largest VA Lender) since 2018, and awarded LO of the Year for Insta Mortgage, INC 500 company.

Chris Bettis Fluent Mortgage | President & Loan Officer Springfield chris@fluentmtg.com

Chris comes from a family of Veterans and did not get a chance to serve. He still lives a life of service and is a warrior for all that served our country. In Oregon, the VA benefit is only used approximately 10% of the time, Chris BATTLES daily to change that. Chris also produces a video series Called VA Declassified, that teaches Veterans about their VA Home Loan Benefit.

Andrew Cady Fairway Independent Mortgage | Epic Mortgage Guy North East Florida andrew.cady@fairwaymc.com

Andrew has a passion for serving our military veterans that stems from his father's time in service. Over the last several years Andrew has helped more than 400 veterans become homeowners using their VA benefits. "The VA loan is a right they have earned, not just a zero down loan program" is something that Andrew says often when promoting the use of VA benefits. Over the last several years Andrew has been an advocate in the real estate space for the acceptance of the VA loan program without the stigma's that follow it.

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Steve Campbell Mountain West Financial, Inc. | Mortgage Loan Originator Fallbrook, CA steve.campbell@mwfinc.com

For the past 10 years, Steve has helped host and sponsor a Texas Holdem Poker Tournament to benefit Our Fallen Soldier, a organization based out of Camp Pendleton that helps military families rebuild their lives after losing a loved one overseas. Our Fallen Soldier is committed to honoring the fallen, providing resources to the families that have lost, grief counseling for the children, outreach programs for homeless veterans, providing employment opportunities, shelter, etc. At the Our Fallen Soldier event, Steve works with the organization to honor and give a heartfelt thank you to the veterans for their service. He works with them to give a sizable donation each year to help the veterans and their families. Steve also attends job fairs at Camp Pendleton nearby to help support veterans with a chance to start a new career in the mortgage industry

James Coleman Supreme Lending | Loan Officer Dallas, TX James.Coleman@SupremeLending.com

James is honored to serve active military, Veterans, and their families, paying tribute to their service and sacrifice for our country. Growing up in Pensacola, Florida, which has a large military presence, James was taught early to respect service members. Originating VA loans allows him to meet military families' unique home financing needs. James takes pride in ensuring the smoothest process and transaction for our military community.

Jacquelyn Bailey Farrell Planet Home Lending Retail Branch Manager Augusta, GA JFarrell@planethomelending.com

I serve veterans because both my father and uncle, who fought in WWII, were able to use their VA benefits, and that homeownership changed my family's future. I believe homeownership is the foundation of the American dream and a way to pass down generational wealth that can make a difference to veteran's families. Living in a military town gives me insight into the needs of our service members. It allows me the privilege to serve the people who serve our nation — and most importantly, get them the full scope of the benefits their service has earned them.

Brent Edwards Mountain West Financial, Inc. DBA Seabright Mortgage | Branch Manager Santa Cruz, CA brent@seabrightmortgage.com

Brent Edwards and his branch Seabright Mortgage are heavily involved each year in organizing and volunteering Operation Surf in Santa Cruz, CA. This event is held in support of the men and women whom have sacrificed so much to protect our freedom. Severely wounded active duty and veteran service members from various branches of the U.S. military who served in Afghanistan and Iraq will take part in a life-changing experience at beaches across the coast.

Seth Erickson Planet Home Lending, LLC | Mortgage Loan Originator Lakewood, CO serickson@planethomelending.com

I've been working as the mortgage advisor for Front Range Heroes for several years now and can't praise them highly enough. With rebates and lender credits, the organization makes VA loan homeownership even more affordable, all without any income cap, proof of need or hardship, or the need to buy in specific neighborhoods. Just one more way to give back to our veterans. I served in the Navy myself, so I feel both proud and obligated to serve our men and women in uniform. They work hard for their VA benefits. They deserve an advocate who is great at working with real estate agents, overcoming challenges, and understanding how to best ensure a successful file completion.

Jennifer Franklin Planet Home Lending, LLC Sales Manager Virginia Beach, VA jfranklin@planethomelending.com

I served in the Navy for 24 years, and in 1999 became a mortgage banker while serving in the reserves. As a veteran, I am uniquely qualified to serve VA homebuyers and homeowners in Virginia Beach — home to Naval Station Norfolk, the country's largest naval base. Today, I focus on helping veterans and service members use their VA home loan benefits to achieve the American dream of homeownership. I specialize in serving first-time homebuyers. I'm also a trainer for first-time homebuying courses at military bases. My decades of experience with the VA home loan program make me a top-notch mortgage professional for service members, retirees, and active-duty military service members buying their first home. NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

SPECIAL ADVERTISING SECTION: 2021 BEST MILITARY ORIGINATORS

Jessica Furr Planet Home Lending, LLC | Mortgage Loan Originator Woodbridge, VA jfurr@planethomelending.com

As the daughter of an Army veteran, I don't just like doing VA loans — they are my favorite type of loan file to work. The people who serve are more than just the number on a credit report, which is why, for my entire mortgage career, I've chosen to work for companies that offer manual underwriting to maximize the potential for homeownership among our men and women in uniform.

Jonathan Hallstead Cardinal Financial | VP Division Manager Retail Lending Irvine, CA jonathan.hallstead@cardinalfinancial.com

Jonathan believes that our VA and military deserve exceptional service as a small way to thank them and their families for their sacrifices. Serving our country is so honorable and it's just this one small thing that can be done by us to pay them back. It's an honor to play a part in helping them live the American dream of homeownership. His passion for helping clients is equaled to his passion for community and he serves on the board for the Salvation Army and has been recently looking for a VA PTSD organization to support as well.

Matt McDaniel Mid America Mortgage | Senior Loan Officer Dallas, TX matt.mcdaniel@ midamericamortgage.com

Specializing in VA loans is my way of saying “Thank You” those who have served and done so much for our country for their sacrifice. I take a lot of pride in helping Veterans obtain the most advantageous loan available for them. A lot of Veterans are not aware of the power a VA loan, and I love to educate and get excite them about the process.

George LaGuardia A and N Mortgage | Mortgage Consultant Chicago, IL george@anmtg.com

As a former Marine, I love working with fellow veterans who may not understand how to use the VA benefits they earned through their service to buy their family’s dream home. Utilizing my extensive VA product knowledge, we can work together to establish a legacy for their family to pass on to future generations.

Jason Malmstrom Hancock Mortgage Partners, LLC | Vice President|Branch Manager|VA Mortgage Advisor|Loan Officer Duluth, MN jmalmstrom@hancockmortgage.com

Over the past several years, we have helped so many military families not only locally, but those living abroad to either become homeowners or to help them save thousands and thousands of dollars on their existing mortgages. This has allowed them to put themselves in a much better financial position and because of the teaching, training, and education we provide to Veterans and referral partners, we are able to have our clients win more transactions.

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Tim Moore Cardinal Financial | Loan Originator Irvine, CA tim.moore@cardinalfinancial.com Tim’s passion lies in working with

members of the military. As the son of an Air Force veteran, Tim has a deeply rooted respect for the service and has spent most of his career becoming a VA professional. Tim’s commitment to helping veteran and active military stems from his wanting to support their service and commitment to freedom.

Jason Sharon Home Loans Inc | Broker owner Charleston, SC jason@homeloansinc.com

I am a 20 year vet. It’s all about helping my veteran brothers and sister to own part of the country they fought for. I wrote the best book on va loans: va mortgages declassified: don’t get screwed by the lender. Your magazine has interviewed me twice. Also been interviewed by money.com and housing wire.

Brad Stinson Benchmark Mortgage | The Mortgage Marine Grand Rapids mortgagemarine@benchmark.us

Knowing how utilizing my VA Home Loan benefit changed MY life, I fight & advocate for my fellow Veterans. Helping them achieve the American Dream of Homeownership. Through my non-profit work, I have built a robust network of resources for Veterans and their families.

Gibran Suffy Planet Home Lending | Regional Sales Manager Chula Vista, CA gsuffy@planethomelending.com

The VA home loan is an excellent mortgage product with great features — like the ability to purchase a home with no down payment and flexible credit scenarios. It's a welldeserved benefit for our military service members and veterans. It's my privilege to help them take advantage the benefits they've earned through personal sacrifice.

Jason E Wood American Mortgage Network | Owner/VA Loan Specialist San Marcos jwood1627@gmail.com

As an Air Force Veteran, and host of the Armed & Ready Podcast, Jason has taken on the challenge towards combating the large lack of knowledge regarding the VA loan for both the consumer and the real estate agent. He has become certified by the California Association of Realtors to educate his realtor counterparts to start spreading the truth about what he feels is the best loan product on the market. Jason has made it his practice to focus on serving the military and become, arguably, one of the most knowledgeable loan originators on the VA Loan. He distributes a wealth of knowledge on all social platforms along with in person education seminars.

NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Source: Black Knight, McDash

Source: McDash Flash

Week Ending

NEW FORBEARANCE PLAN STARTS BY INVESTOR

60,000

Portfolio / PLS

3,500,000

50,000

40,000

2,000,000

30,000

20,000

500,000

10,000 6/1/21

9/21/21

9/7/21

8/24/21

8/10/21

7/27/21

7/13/21

6/29/21

6/15/21

10/19/21

10/5/21

9/21/21

9/7/21

10/5/21

Source: McDash Flash 10/19/21

Week Ending

8/24/21

Source: McDash Flash Data as of Oct. 19, 2021

8/10/21

7/27/21

7/13/21

6/29/21

6/15/21

6/1/21

5/18/21

5/4/21

5/18/21

5/4/21

4/20/21

4/6/21

3/23/21

3/9/21

2/23/21

2021-09

2021-08

2021-07

2021-06

2021-05

2021-04

2021-03

2021-02

2021-01

2020-12

2020-11

2020-10

2020-09

2020-08

2020-07

2020-06

2020-05

2020-04

2020-03

2020-02

2020-01

2019-12

2019-11

2019-10

2019-09

2019-08

2019-07

2019-06

2019-05

30 to 60 Days DQ

4/20/21

4/6/21

3/23/21

3/9/21

GSE

2/23/21

2/9/21

1/26/21

FHA / VA

1/12/21

Removals

2/9/21

1/26/21

1/12/21

12/29/20

12/15/20

12/1/20

11/17/20

11/3/20

10/20/20

10/6/20

9/22/20

9/8/20

2019-04

Current to 30 Days DQ

12/29/20

12/15/20

12/1/20

1,000,000 8/25/20

Total

11/17/20

1,500,000

11/3/20

2,500,000

10/20/20

3,000,000

10/6/20

4,000,000

9/22/20

MORTGAGE DELINQUENCIES BY SEVERITY

9/8/20

Total Delinquent 2019-03

Record Low

8/25/20

4,500,000

8/11/20

ACTIVE FORBEARANCE PLANS

8/11/20

2019-02

2019-01

NATIONAL DELINQUENCY RATE – FIRST LIEN MORTGAGES

7/28/20

1,000,000

7/28/20

2,000,000

7/14/20

3,000,000

7/14/20

4,000,000

6/2/20

5,000,000

6/30/20

2.00%

6/16/20

3.91%

6/30/20

4.68%

6/16/20

4.00%

5/19/20

9.00%

6/2/20

11.00%

5/19/20

2021-09

2021-03

2020-09

2020-03

2019-09

2019-03

2018-09

2018-03

2017-09

2017-03

2016-09

2016-03

2015-09

5.00%

2021-09

2021-08

2021-07

2021-06

2021-05

2021-04

2021-03

2021-02

90+ Days DQ 2015-03

2014-09

2014-03

2013-09

2013-03

2012-09

2012-03

2011-09

2011-03

2010-09

2010-03

2009-09

2009-03

2008-09

2008-03

2007-09

2007-03

2006-09

2006-03

2005-09

2005-03

2004-09

2004-03

2003-09

2003-03

2002-09

2002-03

2001-09

2000-2005 Average

2021-01

Other

2020-12

2020-11

2020-10

Fannie/Freddie

2020-09

60 Days DQ

2020-08

Delinquency Rate

2020-07

2020-06

1/ 2

0/ 20 5 /8 /2 5 /2 0 9/ 2 6 /1 0 8/ 20 7 /9 /2 7 /2 0 9/ 2 8 /1 0 8/ 20 9 /8 /2 9 /2 0 8/ 10 20 /1 9/ 2 11 0 /6 / 11 20 /3 0/ 1 2 20 /1 8/ 2 1 /1 0 1/ 21 2 /1 /2 2 /2 1 2/ 2 3 /1 1 2/ 21 4 /1 /2 4 /2 1 1/ 2 5 /1 1 1/ 21 6 /1 /2 6 /2 1 1/ 2 7 /1 1 2/ 2 7 /2 1 9/ 2 8 /1 1 8/ 21 9 /8 /2 9 /2 1 8/ 10 21 /1 9/ 21

4 /2

FHA/VA

2020-05

30 Days DQ

2020-04

2020-03

2020-02

2020-01

2019-12

2019-11

2019-10

2019-09

2019-08

2019-07

3 /3

DATABANK

LOANS ROLLING TO A MORE DELINQUENT STATUS

2,000,000

60 to 90 Days DQ

10.00%

8.00% 1,500,000

7.00%

6.00% 1,000,000

500,000

3.00%

Source: Black Knight, McDash Source: Black Knight, McDash

900,000

FORBEARANCE PLAN EXTENSIONS & REMOVALS Extensions

800,000

700,000

600,000

500,000

400,000

300,000

200,000

100,000

NON QM Showcase Angel Oak Mortgage

Solutions Atlanta, GA http://www.angeloakms.com Angel Oak Mortgage Solutions is the leader in the non-QM mortgage space. We offer alternative specialized mortgage solutions for brokers throughout the country helping borrowers who don’t fit conventional guidelines. Our innovative non-QM products include: Bank Statement, Platinum Jumbo, No Income Investor Cash Flow, "Just Missed" Portfolio Select and Asset Qualifier. We are pioneering a fresh approach to today’s mortgage lending challenges helping partners to grow their business. Visit https://angeloakms.com/ programs/ for details on our products that can help you grow your business. NATIONWIDE except: AK HI ID MA MO NY VT

FundLoans

Encinitas, California http://www.fundloans.com Insignia is our Jumbo Prime program. Apex Prime is meant to meet the needs of your alternative doc borrowers with a focus on self-employed borrowers. Montage Prime is great for your near miss prime borrower. Spectrum Prime is the perfect tool for your seasoned investor borrowers. We focus on jumbo and super jumbo loans. Arizona, California, Colorado, Florida, Georgia, Wyoming, Connecticut, Hawaii, Idaho, Illinois, Montana, Nevada, Washington, North Carolina, South Carolina, Oregon, Texas, Utah, Tennessee

LoanStream Mortgage

Luxury Mortgage Corp

Irvine, CA www.LoanStreamWholesale.com

Stamford, CT http://www. luxurymortgagewholesale.com

Full Doc / Alt Doc

The Simple Access® NonQM suite of products was built around the idea that it doesn’t have to be complicated to finance a home. We have created a diverse selection of borrower friendly programs that are simple, innovative and flexible.

ITIN DSCR Bank Statement Fixed, ARM, and Interest Only Programs High LTVs and Lower FICOs Business Owners, Investors Licensing - LoanStream (lsmortgage.com)

Investor Cash Flow Qualification based on income generated by the subject property Bank Statement Qualification based on business or personal bank statements Asset Qualifier Eligibility based on a borrower’s liquid assets Full Doc Excellent pricing for scenarios just outside conventional guidelines 1099 Only AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IL (no IO loans), MA, MD, ME, MI, NH, NC, NJ, NM, NY (no subprime), OH, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI Properties

Oaktree Funding Corp.

Temple View Capital

Chandler, AZ www.oaktreewholesale.com

Bethesda, Maryland https://www.templeviewcap.com/

Non-Agency & Investor AdvantageThe Non-QM experts Oaktree Funding are proud to offer innovative solutions for diverse borrowers. We offer products and services through our three channels of operation: Wholesale, Correspondent and Retail Lending. Oaktree is not tied to any one investor securitization.

Our business purpose loan products, Fix & Flip, Fix & Hold, Bridge and Long-Term Rental Investments for single-family, 14 units, Condos, Townhomes. Our Rehab Loans & Bridge allow for the monthly Payments to be Rolled into the Loan. With our Long-term rental, we offer 30 Year Fixed, ARM and Interest-Only. The borrower is LLCs, LPs, and Corporations.

12 Month bank statements at 90% LTV

We are a nationwide lender

Price match guarantee to any NonQM competitor* <75% LTV bank statement rank same as full doc. New streamline submission portal – point, click, submit 4 Or more expert associates dedicated to your file $3.0M up to 80% LTV *Price Match guaranty to include our NonAgency Advantage and Investor Advantage Products Only. We will match up to 100BPS in price or 50BPS in rate. See your Account Executive for details. Subject to change without notice for any reason.

AZ | CA | CO | CT | DC | FL | GA | ID | IL | IN | MD | MA | MI | MN | MO | NJ | NM | NV | NC | OH | OR | PA | SC | TN | TX | UT | VA | WA | WI

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GREAT EVENTS START AT AMBIZ MEDIA

LIVE, IN PERSON 2022 SHOWS

JAN 13-14

New England Mortgage Expo & Non QM Forum Mohegan Sun, CT

FEB 8

Texas Mortgage Roundup Austin, TX

MAR 1

Atlanta Mortgage Expo Atlanta, GA

MAR 8

Coastal Connect Mortgage Expo Jacksonville, FL

MAR 15

Mid South Mortgage Expo Nashville, TN

MAR 22

Carolinas Connect Mortgage Expo Charlotte, NC

APR 12

NY Mortgage Expo Suffern, NY

SUN O OAST M O R TG AG E E X P O

APR 19

Chicago Mortgage Originators Expo Chicago, IL 44

MAY 4

CA Mortgage Expo Irvine, CA

MAY 11

Utah Mortgage Expo Park City, UT

44 ORIGINATOR CONNECT MAGAZINE | SUMMER 2019

MAY 18

Great NE Credit Union Show* Sturbridge, MA

MAY 24

Suncoast Mortgage Expo Tampa, FL

www.mortgageconferences.com

| 44 NATIONAL MORTGAGE PROFESSIONAL MORTGAGE BANKER | JANUARY 2021 MAGAZINE

JUNE 6

Motor City Mortgage Expo Detroit, MI

JUNE 23

Great Northwest Mortgage Expo Portland, OR

The Originator Connect Network is the nation’s largest coalition of mortgage conferences, reaching more mortgage originators in person than any other organization. Coast to coast, we offer many opportunities for companies to reach the front-line sales and origination professionals critical to you success. There’s nothing quite like standing faceto-face with potential new clients. At American Business Media, we produce some of the most successful and largest business-to-business conferences and trade shows in the nation. Visit www.mortgageconferences.com for a full listing of our shows and links to register your company as a sponsor, exhibitor or attendee.

JULY 7

Ultimate Mortgage Expo New Orleans, LA

SEPT 8

Great Northwest Mortgage Expo Seattle, WA

JULY 6

Mortgage Star for Women New Orleans, LA

SEPT 13

CA Mortgage Expo Pasadena, CA

JULY 21

Arizona Mortgage Expo Phoenix, AZ

OCT 11

CA Mortgage Expo Oakland, CA

AUG 11

CA Mortgage Expo San Diego, CA

OCT 18

Colorado Mortgage Summit Denver, CO

AUG 18-21

Originator Connect Las Vegas, NV

NOV 8

Texas Mortgage Roundup Houston, TX

AUG 19

Non QM Summit Las Vegas, NV

SEPT 1

Texas Mortgage Roundup Dallas, TX

DEC 13

OCN CA Mortgage Holiday Party Irvine, CA

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Greg Gadson

I AM A VETERAN AND THIS IS MY VICTORY.

“My victory is proving that nothing can hold me back.” While serving in Iraq, an explosion took both of Greg’s legs. But it didn’t touch his spirit. Today, Greg is an entrepreneur, photographer and public speaker. DAV helps veterans of every generation get the benefits they’ve earned—helping more than a million veterans each year. Support more victories for veterans®. Go to DAV.org.

Your One-Stop Shop For Mortgage Training and Superior Marketing Content Download FREE The 2019 Book of Home Finance at www.originationpro.com 200+ pages packed with the information needed to succeed in this industry.

www.OriginationPro.com l success@hershmangroup.com

1-800-581-5678 46

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Wholesaler Directory

Acra Lending Specialty/ Niche: Non-QM / Jumbo Acra Lending is the leader in Non-QM Wholesale and Correspondent lending programs. Offering a range of programs and services geared toward helping mortgage professionals and borrowers achieve their purchase and investment goals. We are committed to providing simplicity, consistency and an optimal customer experience.

ACC Mortgage Specialty/ Niche: Non-QM

Princeton Wholesale Specialty/Niche: The Effortless Mortgage

ACC Mortgage is the oldest Non-QM lender that has never stopped lending in 22 years. We specialize in Bank Statement, ITIN, P&L, Foreign National and DSCR lending. Price, Product and Process are what make for NonQM success.

States Licensed in: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, ME, MD, MI, MN, MT, NE, NV, NH, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WY

States Licensed in: AZ, AR, CA, CO, CT, DE, DC, FL, GA, ID, IL, IN, KS, MD, MI, NV, NJ, NC, OK, OR, PA, SC, TN, TX, UT, VA, WA

Bio: Princeton Wholesale is headquartered in Pittsburgh, PA driven by the mission to show up every day and improve our mortgage process for our broker partners and their customers. We believe that customer loyalty is earned by providing a consistent, effortless experience and by doing the right thing, every time.

http://ACCMortgage.com

https://acralending.com/

States Licensed in: Alabama, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin http://princetonwholesale.com

Angel Oak Mortgage Solutions Specialty/ Niche: Non-QM, Non-Agency Angel Oak Mortgage Solutions is the leader in the non-QM mortgage space. We offer alternative specialized mortgage solutions for brokers throughout the country helping borrowers who don’t fit conventional guidelines. We are pioneering a fresh approach to today’s mortgage lending challenges helping partners to grow their business.

First National bank of America Specialty/ Niche: Non- QM Bio: FNBA is a portfolio lender with over 65 years of experience. We understand that in the Non-QM business, service makes all the difference. That’s why we are committed to providing you with the fastest turn times, exceptional service and loan programs that make growing your business easy! States Licensed in: All 50 States http://www.fnba.com/mortgage-brokers

States Licensed in: AL AK AZ AR CA CO CT DE FL GA HI IL IN IA KS KY LA ME MD MI MN MS MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VA WA WV WI WY DC www.angeloakms.com

The Money House, INC. Specialty/ niche: DIRECT HECM LENDER - GNMA ISSUER Money House On Demand is the US Division of The Money House, Inc., a Ginnie Mae Forward and Reverse Mortgage Issuer/ Servicer. The US Division combines a complete range of mortgage products with a unique seasoned and professional team of bi-lingual staff and resources supporting complete Wholesale and Correspondent Partner relationships.

Freedom Mortgage Specialty/ niche: VA and FHA

States: CA. CO, DC, FL, GA, IL, MD, OR, PR, TN, TX

As the #1 VA and FHA lender*, Freedom Mortgage Wholesale is dedicated to serving the needs of brokers, wholesale correspondents, banks and credit unions with a wide variety of products. Our local Account Executives, three Regional Operation Centers, and seasoned underwriters are committed to providing an unparalleled experience

http://www.moneyhouseus.com

*Inside Mortgage Finance, Jan-Jun 2020

States: all 50 states, the District of Columbia, Puerto Rico and the Virgin Islands. www.freedomwholesale.com NATIONAL MORTGAGE PROFESSIONAL MAGAZINE |

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We Have Mortgage Jobs.

• Branch Manager • Business Development Manager • Client Relationship Manager • Client Relationship Specialist • Collateral Asset Manager • Commercial Loan Officer • Credit Analyst • Licensing Assistant • Loan Officer • Loan Mitigation • Post Closing QC Expert • Loan Administration Manager • Processor • Regional Vice President • REO Closer • Retail Branch Manager • Reverse Mortgage Specialist • Sales Manager • Underwriter • Wholesale Account Exec • And MORE! Resposes are from highly-qualified candidates. Your ad can also be [osted on Indeed and SimplyHired as a FEATURED JOB, on Craigslist in most cities, Googlebase, Oodle, Juju, CareerMetaSearch, TopUSAJobs, Jobalot and MORE! Pay-per-use RESUME BANK.

findmortgagejobs.com

2021 Mortgage Lending’s

Women of Inspiration

NMLS # 181407

NRL is proud to congratulate Helen Ghebremichael as one of National Mortgage Professional's 2021 Mortgage Lending’s Women of Inspiration, an exclusive list of the most talented, ambitious, innovative and philanthropic women who are achieving excellence and making a difference in these traditionally male-dominated industries.

HELEN GHEBREMICHAEL Director of Treasury and FP&A of NRL Mortgage This is an advertisement. All applications are subject to credit approval. Program terms and conditions are subject to change without notice. Some products may not be available in all states. Other restrictions and limitations may apply. This is not a commitment to lend. NRL Mortgage is not afﬁliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government. Nations Reliable Lending, LLC is an Equal Housing Opportunity.| www.nrlmortgage.com | NMLS # 181407 – 4400 Post Oak Parkway, Suite 1000, Houston, TX 77027, 713-275-1300 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act License # 413-1259 | For a full list of our licenses, please visit www.nmlsconsumeraccess.org

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