OriginatorConnect Magazine January 2019

JANUARY 2019

OriginatorConnect MAGAZINE

INCLU DING

PROGR AM GUI DE SEE PA GE 17

What’s New, What’s Next In The Mortgage Market CREDIT SCORE

BASICS

A PUB LI C ATI O N O F A MER IC A N B U S IN ES S M ED IA

ACCENTUATE

THE POSITIVE

LIFE ON

THE ROAD

QL® MORTGAGE SERVICES

STRONGER TOGETHER

Brian Mink

QLMS Account Executive

Samir Dedhia

Principal, SD Capital Funding QLMS Pinnacle Partner Iselin, NJ

Call (888) 762-5035 QLMortgageServices.com/StrongerTogether Equal Housing Lender, Licensed in all 50 states, NMLS #3030

A PUBLICATION OF AMERICAN BUSINESS MEDIA

OriginatorConnect MAGAZINE STAFF PUBLISHER Vincent M. Valvo NATIONAL MORTGAGE CHAIR Donald Frommeyer EXECUTIVE EDITOR John Hassan MANAGING EDITOR Keith Griffin ASSOCIATE PUBLISHER Barb Dimauro OPERATIONS MANAGER Kurt Schenher ONLINE CONTENT DIRECTOR Navindra Persaud GRAPHIC DESIGN MANAGER Stacy Murray GRAPHIC DESIGNER Scott Ellison ONLINE ENGAGEMENT COORDINATOR Kristie Woods-Lindig

CON TE N T S 4

What’s New, What’s Next In The Mortgage Market

10 The Road Warrior (And Learner) Hard work delivers gratitude for colleagues.

Interested in receiving additional copies of Originator Connect Magazine Call (860) 719-1991 or email kschenher@ambizmedia.com Originator Connect Magazine is the official publication of the Originator Connect Network, serving more than 100,000 mortgage professionals across the United States. In print, in person and online, there is no larger or stronger community of mortgage loan originators. To see our many events, please go to

www.mortgageconferences.com.

14

6

Understanding Credit Scoring

Why all credit scores are not the same.

8Today Is All We Have

Forget about yesterday. And tomorrow too.

The Honor of Serving Customers The humble role of making dreams come true.

17

The New England Mortgage Expo Agenda and Exhibitor Guide

PROGRAM GUIDE SPONSORED BY

www.ambizmedia.com © 2019 American Business Media LLC All rights reserved. Originator Connect 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

ORIGINATOR CONNECT MAGAZINE | JANUARY 2019 3

The Latest In The Mortgage Market

R

By DAVID M CIN IN CH and L ION EL U RB A N

esponding quickly and efficiently to the ups and downs of the housing market will keep mortgage lenders on their toes in 2019.

Rising interest rates and a shortage of affordable housing could cool an otherwise hot home sales market, leading mortgage lenders to approach the coming year with caution. On top of that, lenders must keep up with regulatory changes and borrowers’ increasing expectations for speed and ease in the lending process.

But there are bright spots. Millennials are the largest generation in U.S. history, and they’ve now entered peak homebuying years. The generation accounts for 36 percent of homebuyers in the market, the largest share, according to the National Association of Realtors.

Home-ownership and equity has always been a driver of wealth, typically outpacing other financial investments. Although millennials have been slower to enter the market than other generations, purchasing a home will always be part of the American dream.

And with interest rates ticking up, home-equity loans for bill consolidation, construction projects and other purposes are likely to surge. TransUnion estimates that 10 million consumers will originate a home equity line of credit (HELOC) between now and 2022.

Here are three trends to watch in 2019.

AUTOMATION AND DIGITIZATION

The faster we can get paper out of banks and credit unions, the better it will be. Digital transactions and processes reduce costs, increase transparency and make finding needed information easy for lenders. Look for 2019 to bring our industry closer to a completely electronic mortgage experience, from origination to close.

There’s no question the cost to originate a mortgage has increased dramatically.

Automating processes can keep those costs in check, reducing staff time, opportunities for error and risk. Using an automated workflow, mortgage origination processes can be transformed to help borrowers more quickly receive the keys to their new home, refinance, or obtain a home equity loan or line of credit. The more clerical tasks are automated, the more time staff can spend building relationships with borrowers.

Borrowers won’t get up in the middle of a sentence and walk out of a branch, but

4 ORIGINATOR CONNECT MAGAZINE | JANUARY 2019

they will abandon a digital transaction or interaction that isn’t intuitive or valuable.

Loan files often contain as many as 700 pages, which must exactly match existing loan data and terms. Validating the accuracy of those documents via an automated process can decrease origination costs and speed time to close, while reducing the chance for human error. For financial institutions buying or selling mortgages, automated review helps to quickly evaluate portfolio quality.

Because HELOCs are not as complex as first mortgages, they are fertile ground for the benefits of automation. As the equity market heats up, automating processes and approvals will help financial institutions take maximum advantage of the opportunity in the coming year.

MULTICHANNEL BORROWER

More than half of all loan applications in the past two years included some online or mobile component. Of those who have an existing home loan, 67 percent would feel comfortable completing a home loan application on a laptop or desktop computer, and 29 percent would be comfortable using a mobile device, according to Expectations & Experiences: Borrowing and Wealth Management, the latest quarterly consumer research from Fiserv.

Mortgage lenders are consequently challenged to deliver a more efficient lending process and a compelling, differentiated borrower experience. To grow their mortgage business, financial institutions will likely make greater investments in the customer experience in 2019.

However, the demands are significant for lenders that want to address the complexities of lending and enhance the customer experience. Just looking at the origination process, borrowers’ preferences may include completing an online application, walking into a branch, reaching out to a call center or using a chatbot. As they move through the process, they may switch from one channel to the next and every channel must feel like a continuation of the same experience.

Borrowers won’t get up in the middle of a sentence and walk out of a branch, but they will abandon a digital transaction or interaction that isn’t intuitive or valuable.

As those types of engagement replace faceto-face conversations, every channel must deliver a rich, digital experience.

While most of the industry’s focus has been on getting the user experience right

for the consumer, it’s just as important to provide an intuitive experience for lenders.

If mortgage lenders’ jobs are made more difficult by employers’ inability to provide the right tools and solutions, they will look elsewhere for opportunities.

DATA TAKES CENTER STAGE

Lenders have always used data points to help them make decisions, but technology enables an enterprise-wide, 360-degree view of borrowers and the lending operation. The more lenders get the transparency, visibility and quantity of data right – and make it easily accessible – the more it enables quicker, better decisions. Automation and faster decisions affects closing speed, the user experience and loan quality, which impacts market share.

Starting with a borrower’s first entry into the process – the application – information can now be secured from a data source rather than documents. Financial records from banking accounts can replace statements, pay stubs, W-2 forms and tax returns, and lenders can automate underwriting.

A large, robust and accurate data set is the precursor to artificial intelligence (AI) and machine learning. Creating a clear data strategy, assigning dedicated resources to manage data initiatives and partnering with data-focused technology providers lays the foundation for coming innovations. Those could include digital assistants and voice banking skills that enable digital banking and payments.

A COMPELLING VALUE

Today’s lending environment is complex, especially for financial institutions. Most mortgage lending in the U.S. has moved in some fashion to nonbank providers and aggregators, which are able to compete without many of the regulatory challenges placed on banks and credit unions. To compete in the coming year, financial institutions will need to consider fully digitizing the loan lifecycle to achieve greater transparency and cost effectiveness.

No matter what the coming year holds for the economy and the housing market, financial institutions will continue to provide a very compelling value proposition for homebuyers. > David McIninch is SVP of Strategy and Marketing, Bank Solutions, and Lionel Urban is VP of Product Management, Bank Solutions, at Fiserv.

IS “MARGIN COMPRESSION” A GROWING CONCERN? HAS YOUR COMPENSATION BEEN AFFECTED YET? IS YOUR LENDER PREPARED FOR 2019’s RISING RATES? ARE YOU GETTING THE SUPPORT YOU NEED? IN AN EVER-CHANGING MARKET, YOU’RE PROBABLY FULL OF QUESTIONS.

HUTCHINSON MORTGAGE RECRUITING HAS ANSWERS. We are not here to tell you that the grass is greener, but it can be a different grass all together. Every lender has its own culture, its own strengths and weaknesses, its own quirks. If you wake up every day frustrated with support, pricing, pay, or product, there may be a better lender for you. Call us now. Let us help.

In just a 15 minute phone conversation, gain the satisfaction of knowing you’re in the right place or that there may be something better out there for you. We are not going to sell you the next best company. This is simply a casual and confidential conversation.

We have contracts with over 20 national and local lenders in the North East. With almost 500 placements in 15 years of mortgage recruiting, we are confident we can place you with a lender who best matches your business model.

Jeff Hutchinson | President, Executive Recruiter | Hutchinson Mortgage Recruiting Office: 860-383-8100 | E-Mail: jhutch@hmrecruiting.com | www.HMRecruiting.com 219 West Town St. First Floor | Norwich, CT 06360

ORIGINATOR CONNECT MAGAZINE | JANUARY 2019 5

J U ST T H E FACT S

T

What LOs Need To Know About Scoring Credit

By M IK E O L D EN, Special to Originator Connect Magazine

here are four facts about credit scores loan officers need to know, because in the mortgage finance industry we sometimes hear the following from borrowers:

“Are all credit scores the same?” or perhaps more often, “Why aren’t all credit scores the same?” There can be several answers to these questions.To best understand the facts about credit scores, it’s important for the consumer to consider the variables at play — what company provided the credit score; what version or generation of the credit score was used; and the timing of when each score was accessed. Any time a consumer applies for a mortgage loan and the lender uses a credit score, the consumer must receive a disclosure that identifies the score, the date the score was created, the range of possible scores, the key factors that adversely affected the consumer’s score and the identity of the provider. This information is intended to help consumers better understand each score.

CREDIT SCORE COMPETITION

The two most common credit scores used by lenders are the FICO® Score and the VantageScore®. They are separate and often compete for use by lenders. In the mortgage finance industry, FICO Scores generally are preferred.

FICO offered its first general-purpose score in 1989. FICO Scores are based on credit report data obtained from consumer reporting agencies, also called credit bureaus. Fannie Mae and Freddie Mac first began using FICO Scores in 1995 to identify mortgage loans for eligible for purchase by the companies.

In the mortgage industry there are also differences. Currently the following versions of FICO Scores are used: Experian – FICO Score V2 TransUnion – FICO Score V4 Equifax – FICO Score V5 The VantageScore consumer credit scoring model was unveiled in 2006 as a collaboration of the three main consumer reporting agencies – Equifax, Experian, and

6 ORIGINATOR CONNECT MAGAZINE | JANUARY 2019

TransUnion. The VantageScore is often used by non-mortgage lenders and in conjunction with some consumer credit report sites such as Credit Karma. Currently there is discussion about requiring the mortgage industry to adopt multiple credit scoring models, which requirement is under review by the Federal Housing Finance Agency (FHFA) although no timeline has been established for the completion of this review.

CREDIT SCORE RANGE

Historically, FICO Scores have a range of 300 on the low end to 850 on the high end. The first generation VantageScore had a range of 550 – 990. If a consumer received a VantageScore and then applied for a mortgage loan which required a FICO score, the consumer’s credit scores may be (very) different. We have all heard these laments: “I just saw my credit score and it was 750; now you pull my credit report and it is only 680. What did you do?!”

There could be several reasons for the difference. The most common cause may be that different credit score models were used with different credit score ranges. Both may measure the same basic factors but calculate them differently. What are some of those factors?

CREDIT SCORE FACTORS For FICO Score, the critical factors are: Payment History Amounts Owed Length of Credit History Applications for New Credit Credit Mix/Types of Credit MEANWHILE, FOR VANTAGESCORE THE FACTORS ARE: Payment History Age and Type of Credit Percentage of Credit Limit Used Total Balances and Debt Recent Inquiries for New Credit Available Credit Regardless of which credit score model is used, the most critical factor reflected in the score is the consumer’s payment history, specifically if accounts are paid on time each month. It’s also helpful

for consumers to keep balances – especially credit card balances – low. A good rule of thumb is below 25 percent of the credit limit.

Limiting any additional applications for credit until after the mortgage transaction is completed can also be helpful.

CREDIT REPORTING

Even a single type of credit scoring model, such as FICO Scores, can yield different scores. Credit reporting is voluntary – creditors are not required to report to the credit bureaus or even to all credit bureaus.

This can cause differences in credit scores.

If a creditor or a collection agency reports to only one or two of the credit bureaus, there can be differences in the credit scores.

A credit score inquiry typically takes a ‘snapshot in time’ of the consumer’s credit file and the credit score is calculated based on that information. Over time, a credit score will reflect changes in the consumer’s credit history, e.g., balances, late payments and new or closed accounts.

Creditors typically update account information on a monthly schedule. If a lender accesses a consumer’s credit file multiple times over a period of a few months, it may see changes in the consumer’s scores depending on the information included in their credit bureau files. And if creditor information reaches each bureau at different times, the scores may differ.

REPORTING ERRORS

Finally, a consumer’s credit file may have reporting errors that can contribute to differences in scores. Every consumer should take advantage of obtaining a free copy of their credit report from each of the three credit reporting bureaus (available at www.AnnualCreditReport.com) to review their credit bureau files to ensure accuracy.

As a loan officer, if you understand these four facts you will be better able to answer your borrower’s questions about credit scores. > Mike Olden is a business development and education expert for American Reporting Company (ARC), LLC.

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ORIGINATOR CONNECT MAGAZINE | JANUARY 2019 7

Positive Thinking Has No Negative

By HA RVEY M ACKAY

I

n my favorite comic strip “Peanuts,” drawn by Charles M. Schulz, Lucy asks Charlie Brown what day of the week he likes best.

For the next few frames, we see Charlie thinking and thinking. Finally, he says, “You know, I’ve always been kind of fond of tomorrow.”

For once, I have to disagree with good old Charlie Brown. My favorite day is Today, because every morning when I wake up, Today is what I have to work with.

With the New Year upon us, I have a challenge for you. Stop worrying about that which you cannot control.

Many years ago, this advice came from Robert Jones Burdette, an American humorist and clergyman: “There are two days in every week about which we should not worry, two days which should be kept from fear and apprehension.”

Various versions by numerous authors expanded on that theme: “One of these days is Yesterday with its mistakes and cares, its faults and blunders, its aches and pains. Yesterday has passed forever beyond our control.

All the money in the world cannot bring back Yesterday. We cannot erase a single word we said. Yesterday is gone.

The other day we should not worry about is Tomorrow with its possible adversities, its burdens, its large promise and poor performance. Tomorrow is

8 ORIGINATOR CONNECT MAGAZINE | JANUARY 2019

also beyond our immediate control.

Tomorrow’s sun will rise. Until it does, we have no stake in Tomorrow, for it is yet unborn.”

And then we get to the meat of the argument: “This leaves only one day – Today.

Any person can fight the battles of just one day. It is only when you and I add the burdens of those two awful eternities – Yesterday and Tomorrow – that we break down. It is not the experience of Today that drives people mad – it is remorse or bitterness for something which happened Yesterday and the dread of what will happen Tomorrow.”

LIVING IN THE NOW

Let that sink in for a minute. Today is the only day in which we can take action and have an impact. Sure, we learn from Yesterday. And of course, we plan for Tomorrow.

But unless we approach each day with a renewed positive outlook, we are wasting enormous potential. And that is what I challenge you to exploit to the max.

Use every tool in your toolbox to build on the traits you need to think and act positively each day. These include reliability, communication and listening skills, cooperation, loyalty and humor, among other qualities. If you are concerned that you are weak in any of these areas, resolve to improve. Make a New Year’s promise to yourself to not waste another minute on negative thinking. Make every Today better than Yesterday.

I had the honor of knowing Dr. Norman Vincent Peale, who endorsed my first book, “Swim With the Sharks Without Being Eaten Alive.”

Dr. Peale happened to have a best seller of his own which you have probably heard of:

“The Power of Positive Thinking.”

That book, which he wrote in 1952, has sold more than five million copies. I recommend it as an essential volume on every business person’s bookshelf.

Among the gems you’ll find in “Positive Thinking” are thoughts such as these: “You do not need to be a victim of worry. Reduced to its simplest form, what is worry? It is simply an unhealthy and destructive mental habit.”

“The way to happiness: Keep your heart free from hate, your mind from worry. Live simply, expect little, give much. Fill your life with love. Scatter sunshine. Forget self, think of others.

Do as you would be done by. Try this for a week and you will be surprised.

“When you expect the best, you release a magnetic force in your mind which by a law of attraction tends to bring the best to you.”

“Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy. But with sound self-confidence you can succeed. A sense of inferiority and inadequacy interferes with the attainment of your hopes, but selfconfidence leads to self-realization and successful achievement.”

Dr. Peale’s writings will inspire you to look at life through a more positive lens. Take a little time in the New Year to read – or reread – this valuable resource.

Trust me, I dust off my well-worn copy whenever I start to worry about Yesterday and Tomorrow instead of celebrating the opportunities I have Today.

Mackay’s Moral: Have a positively Happy New Year! > Harvey Mackay is an entrepreneur and internationally recognized sales expert.

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ORIGINATOR CONNECT MAGAZINE | JANUARY 2019 9

ENERGIZED

By Life on the Road

I

By NICK R O B ER S O N, Special to Originator Connect Magazine

attend many mortgage conferences throughout the year, and as my daughter has learned via her souvenir request, I tend to visit a lot of the same cities over and over. Of course, I have my favorite cities to visit.

Los Angeles, San Diego, Las Vegas, and New Orleans are among those. The first three are primarily due to their proximity to my home base, which makes for easy travel. I view the world a little differently than most. The world around me plays out like movies scenes, and they become part of the ongoing comedy playing in my head most of the time. But I would have to say very few places can compete with the overwhelming amount of comedic material that presents itself in Las Vegas.

Have I mentioned that mortgage conference attendees seem to love events in casinos? And while Mohegan Sun, Foxwoods and the Atlantic City contingent are big draws, there’s no place that holds more mortgage conferences than Las Vegas.

I am a bit of an early riser, and I admit I don’t sleep much on these trips.

One morning I was up early and headed down to the Starbucks in the lobby of the Luxor. As I was walking through the casino, towards the Starbucks near the registration desk, I noticed a large security guard coming towards me. Walking next to him was a man looking rather dazed, wearing only a white t-shirt, plaid boxer shorts, and one sock with bright pink flamingos on it. He was also sporting a bedhead hairstyle which was standing straight up on one side and was a perfect 10 ORIGINATOR CONNECT MAGAZINE | JANUARY 2019

example of why one should think long and hard before sporting a combover.

They walked on past me without saying a word on an obvious mission to return the man to his room. After fetching my morning blast of caffeine, I headed back in the direction of my room to get ready for my conference day. As I was walking across the casino I ran into the security guard who was escorting the man earlier.

I stopped him and asked if the gentleman was okay. He started laughing and told me the story. Apparently, the person who takes care of the plants near the reception desk was quite startled when she found the man asleep in the foliage. When security woke him up, he had no idea where he was or how he got there. The man said the last thing he remembered was getting up to get a glass of water.

I can’t swear that was a mortgage originator having a little too good a time.

But I wouldn’t bet against it, either.

IN THE SLOT(S)

I feel truly blessed to be in this wonderful industry. I always say, “Who gets to do the things we get to do?” We all work really hard. But I have attended amazing parties, seen some of the most amazing motivational speakers, eaten at some of the best restaurants in America, and have made some of the most wonderful friends.

Of course, people on the outside tend to think all we do is play on these trips. They do not know we are always working.

We get up at the crack of dawn to set up an exhibitor booth, catch a flight, prepare for a breakout session, or to have a breakfast meeting with clients. Then we are in for a very long day, whether we are speaking in a break out session, attending classes/ sessions, or standing in our exhibitor booths for the day. We shake hands, talk about our services, maintain existing relationships, and seek out new business opportunities. The days blend into evening networking parties and dinners, which are closely followed by entertaining clients and nurturing those all-important friendships. We get very little sleep and there is very little down time.

I have learned much from my peers over the years as to how to manage the travel with my day to day workload. I am continuously evolving and figuring out new ways to better manage my days.

With all of that said, I have one of the best jobs on the planet, in an amazing industry, filled with some of the smartest and most driven people I know. I am grateful for all the lessons I have learned from my peers.

Even the man walking across the casino in his underwear with one flamingo sock on taught me something valuable.

Always keep a bottle of water next to the bed at night, so that you don’t wake up in the bushes near the reception desk of your hotel. > Nick Roberson is an account

executive for Appraisal Nation, and travels the country incessantly.

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ORIGINATOR CONNECT JANUARY 2019 11

GREAT EVENTS START AT AMBIZ MEDIA 2019 SHOWS

CAROLINAS

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MORTGAGE EXPO

The New England Mortgage Expo Jan 18, 2019 Uncasville, CT

Carolinas Connect Mortgage Expo Jan 24, 2019 Charlotte, NC

Texas Mortgage Round Up Feb 12, 2019 San Antonio, TX

Atlanta Mortgage Expo March 21, 2019 Atlanta, GA

Motor City Mortgage Expo April 3, 2019 Detroit, MI

New York Mortgage Expo April 24, 2019 White Plains, NY

Sept 5, 2019 Dallas, TX

www.mortgageconferences.com

12 ORIGINATOR CONNECT MAGAZINE | JANUARY 2019

Chicago Mortgage Originators Expo May 2, 2019 Chicago, IL

California Mortgage Expo May 9, 2019 Los Angeles, CA October 2019 San Francisco, CA

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 2019 shows and links to sign up as a sponsor, exhibitor or attendee.

SUN O OAST M O RTG AG E E X P O

Suncoast Mortgage Expo May 21, 2019 St. Petersburg, FL

The Great Northwest Mortgage Expo June 12, 2019 Grand Ronde, OR

Ultimate Mortgage Expo Jul 8 – 10, 2019 New Orleans, LA

Arizona Mortgage Expo Aug 1, 2019 Phoenix, AZ

Originator Connect Aug 16 – 18, 2019 Las Vegas, NV

Mortgage Star Conference Aug 16, 2019 Las Vegas, NV

Colorado Mortage Summit October 2019 Denver, CO

Utah Mortgage Expo November 8, 2019 Park City, CO

www.mortgageconferences.com ORIGINATOR CONNECT MAGAZINE | JANUARY 2019 13

How Serving Others Drives the Mortgage Business

A

By STAN FO R A K ER, Special to Originator Connect Magazine

year and a half ago I wrote an article for an internal publication in our bank.

But as I was reflecting on goals for 2019 I couldn’t help think this is still my driving passion. So I am reviving it for all of you, particularly those who love this business as I do.

While on vacation last year I finished Simon Sinek’s book Start with Why. Good authors reach the hearts of thoughtful readers. And Simon struck a chord with me to the point that the stone he threw in my pond is still having ripple effects I was challenged to consider “why” I remain so enamored with the mortgage business after 35 years regardless of the level of difficulty, complexity, pace of change and, from time to time, bad if misguided press.

A long time ago, I remember a young couple who when I told them that we had approved them for their first home, got looks of disbelief on their faces, jumped up in front of me—and hugged each other for a (embarrassingly) long time!

Then there was the 70-plus-year-old distinguished woman who had been an airline pilot in the 1950s when it was unheard of for women to be pilots. She

14 ORIGINATOR CONNECT MAGAZINE | JANUARY 2019

had been so busy living an extraordinary life that she had never gotten around to owning her own home! (In her 80s, to keep her mind sharp she decided to learn to speak Chinese, including six weeks on the continent of Asia for full time language immersion). She was brought to me by a friend of hers who was an existing customer of mine and her first question to me was “Am I not too old to get a mortgage?” She was like a kid at Christmas when she closed on the first home of her lifetime.

And recently we had the privilege of serving a family of six who were living in a run-down unsafe rental property and when trying to buy their own place got turned away by other lenders.

We worked through options for them and took the time to find a solution that allowed them not only to buy the home but to be long-term successful homeowners. The parents are thrilled to have a safe place to raise their kids and also to have a yard and a house they call their own.

FULFILLING NEEDS

“Why” do I do what do? I do what I do because it gives me a noble way to serve other people. I serve their fundamental need and desire

for safety and security. I serve their pride in home ownership. I serve their dreams for the future. I serve their desire to be part of a community. I serve their efforts to be good financial stewards of their resources. All of these are worthy reasons to own a home. And my team and I get to be a part of that wonderful outcome.

The result is this: My now articulated “Why” becomes the centerpiece for every strategic or tactical decision I make in the “how” we do things part of the business.

And the mortgage business is the “what” we do. Process is to be built around service. How I interact with my team is about us partnering in serving others. How I work internally within my company and use the resources we have is about how best to serve our customers.

And underneath all the normal business principles that apply to running any business will remain my passion to serve others.

Now THAT was a great vacation! > Stan Foraker is executive vice president, Mortgage Banking, at First Commonwealth Bank.

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Mortgage Technology Roundtable 1 THE NEW DIGITAL MORTGAGE PROCESS

EXHIBIT HALL OPENS

From taking applications, through underwriting and electronic closings, the mortgage path is increasingly pixel, not paper. We’re bringing together a panel of users and tech providers to talk about how this is evolving, and what best practices you should be exploring now.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE 3:05 pm – 3:25 pm

EXTRA TIME TO VISIT THE QUICKEN LOANS IDEA LAB 3:30 pm – 4:30 pm

Mortgage Technology Roundtable 2 HOW TECH IS DRIVING MORTGAGE MARKETING

Automated blog posting, comprehensive CRM systems, more innovative ways to reach people on social media, email and more. We’re convening some of the best in the business for a conversation on how reaching borrowers increasingly means being part of their digital lifestyle, and what some of the top new products are that can help you do that.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE 5:00 pm – 6:00 pm

WELCOME RECEPTION (Exhibit hall)

8:00 pm – 10:00 pm

SPECIAL AFTER DARK PRIVATE GALA

Join Expo sponsor RCN Capital for an exciting gathering of mortgage attendees!

8:00 a.m. – 8:45 a.m.

Concurrent Sessions LEGISLATIVE PANEL​

CMBA Legislative and Regulatory Update – The CMBA Presents: The Mortgage Industry and “Climate Change”– How the Changing Political, FinTech and Financial Climate will Impact our Industry – What Do Mortgage Industry Participants Need to Know—Insights from Our Expert Legal Panel on State, Regional and National Developments What is in store for the mortgage industry in 2019? What federal and state legislative and regulatory priorities will require particular attention in the coming year? New licensing requirements, examination and enforcement priorities, electronic closings and other developments affecting the origination and servicing of residential mortgage loans. This session will give you the information you need to know.

Presented by Norman Roos/Robinson & Cole, LLP, Ruth Dillingham/Dillingham Consulting LLC., David Pellegrino/ Partridge Snow & Hahn, LLP, Lawrence Garfinkel/Greene Law, P.C. and Robert Wichowski/Bendett & McHugh, P.C. QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE

CONNECTING WITH YOUR CUSTOMER IN A DIGITAL AGE​

This past year was dubbed the “year of the digital mortgage,” but what does 2019 have in store for the real estate industry? This seminar will explore the tools and resources that appeal to today’s homebuyers, which is intended to help keep you in tune with your customers. This session will also address legislative developments that are likely to impact stakeholder processes and workflows as well as practical steps that you can take to enable the implementation of electronic closing processes today. Presented by Ashley Sadler, Compliance Counsel and Business Strategist, CATIC. NIPMUC ROOM ORIGINATOR CONNECT MAGAZINE | JANUARY 2019 17

8:45 a.m. – 9:30 a.m.

Concurrent Sessions OF INTEREST: OFFERING PRODUCTS THAT DON’T CRIPPLE CONSUMERS

Your clients spend their entire adult lives working to pay for their home, largely due to the products we most commonly sell and the total amount of interest that comes with them. This impedes not only their progress in other financial areas but also your production. If you had the opportunity to introduce your clients to a new type of mortgage product – one strictly designed to reduce the total cost of interest, accelerate home-equity growth and pay-off, all without a required change in their budget – wouldn’t you stand out? Join our breakout session to learn how a new first-ever cousin of the offset mortgage can add more value to your clients and change your business forever. Presented by Dave Herbst, VP, AIO Finance & Business Development, CMG Financial.

SHINNECOCK ROOM

DIRECT FROM D.C.: CURRENT OUTLOOK FOR MORTGAGE REGULATION Join William Kooper, Vice President of State Government Affairs and Industry Relations at the Mortgage Bankers Association, as he brings his unique perspective on the political, legislative and regulatory outlook for the mortgage industry.

Kooper – a native of Newtown, Conn. — leads MBA’s advocacy efforts at the state and local level, as well as MBA’s engagement with mortgage banking associations across the country. Join him for this insightful session, capped by a freewheeling q-and-a session with participants.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE

HOW TO MAKE SMALL BALANCE LOANS BIG BUSINESS

With a slowdown in the traditional purchase market, it’s time to start thinking about providing investment property loans for residential 1-4, multifamily, mixed-use and small balance commercial properties. By focusing more on the property’s value and revenue-generating potential rather than the borrower’s personal income and credit, asset-based investment property loans enable originators to meet the unique needs of real estate investors who are tough to qualify, including W-2 employees, self-employed entrepreneurs and small business owners. Because every borrower, even the extraordinary ones, deserves an opportunity. Presented by Troy Kane, VP and East Coast Manager of Velocity Mortgage Capital.

NIPMUC ROOM 9:30 am – 10:15 am

Concurrent Sessions BOOST YOUR BUSINESS WITH FIX-AND-FLIP LOANS AND PRIVATE LENDING With home flipping in the U.S. at a 10-year high, there has never been a better time to expand your product offerings. Private lending offers lucrative options for fix & flip deals and other real estate investing scenarios that don’t fit traditional guidelines. In this

session, Jeffrey Tesch, RCN Capital Managing Director & Private Lending Expert, will teach you how to: •Identify profitable solutions for some of your most commonly overlooked leads •Leverage fix & flip loans and other private lending products to make more money now •Best present yourself and your borrower to a private lender ​ Interested in tapping into a wealth of new business? Don’t miss this break-out session.

SHINNECOCK ROOM

DOMINATE BY BEING DIFFERENT IN 2019

Allen Beydoun, Executive Vice President of United Wholesale Mortgage, will be sharing exclusive strategies for how originators can obtain and retain purchase business. This session is packed with hard-hitting relevant tips and techniques to keep you top of mind with Real Estate Agents, your clients and referrals.

NIPMUC ROOM

VIDEO MARKETING: CAPTIVATE FIRST-TIME HOMEBUYERS

Inman has dubbed 2019 as the year of the first-time homebuyer, but do you know how to reach these millennials borrowers at the right time with the right message? This generation has grown up with video and it’s their preferred method of communication — in a Nielsen survey, 56% of millennials said they find video more engaging than other types of content. It’s not just millennials, either. A HubSpot study revealed that 72% of all consumers prefer video to text for receiving branded marketing information. Loan officers need to set themselves apart in 2019, and investing in video marketing is a great way to stand out.

In this session, you’ll grow to understand the value and purpose behind video marketing in the mortgage industry. Nervous you don’t have the technical know-how to pull off video? You’ll find authenticity, a smartphone, and about 10 minutes are all you need to maximize this content type.

Meghan Handy, Customer Experience Director/VP, and Monique Burgess, Retail Segment Champion, both from Embrace Home Loans, will share their tips, tricks, and best practices.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE 10:15 a.m. – 11:00 a.m.

BREAK WITH EXHIBITORS 11:00 am – Noon

General Session ROB CHRISMAN INSIDER ANALYSIS: WHAT THE HECK’S GOING ON?​

Every morning, thousands of mortgage professionals get Rob Chrisman’s detailed mortgage analysis in their email inbox. Now

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AmeriHome is the 4th largest Correspondent Investor* in the country, with clients including independent mortgage bankers, community and regional banks and credit unions of all sizes. In 2017 AmeriHome became the only Correspondent Investor endorsed by the American Bankers Association. AmeriHome offers a full suite of Agency, Government and specialty products, both delegated and non-delegated, to support our clients’ growth.

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Email paul.rofino@amerihome.com or bridget.williams@amerihome.com to get in touch with your regional AmeriHome Sales Representative *Inside Mortgage FInance 11/23/18 © 2019 AmeriHome Mortgage Company, LLC. Information herein intended solely for mortgage bankers, mortgage brokers, financial institutions and correspondent lenders. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4131116. NMLS #135776

FRIDAY, JANUARY 18 CONTINUED hear Rob in person, as he keynotes The New England Mortgage Expo, offering his insightful take on recent residential lending news and what to pay attention to for 2019. There’s no one better to give you the insider’s analysis. Rob began his career in mortgage banking 30 years ago in 1985. His background includes running capital markets departments, hedging pipelines, and running a small subprime company. He left the daily working world in late 2008 to focus on his family but continued to publish a widely read daily market commentary on current mortgage events. He spends 4-5 hours a day on this, and wakes up at 4 am PST to check overnight news and edit the commentary before sending it out around 6 am PST. In addition to owning Chrisman LLC, he is on the board of directors of several financial services companies, is a member of the Secure Settlements Advisory Board (NJ), an associate of the STRATMOR Group, a board member of the California Mortgage Bankers Association, and of the Mortgage Bankers Association of the Carolinas and its membership committee. He has the opportunity to visit various groups around the United States, and still finds time to take his Dad to lunch nearly every week. Rob holds a BS from Cal Poly, San Luis Obispo, and an MBA from UC Berkeley.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE 12:00 pm – 1:00 pm

BUFFET LUNCH INSIDE EXHIBIT HALL 1:00 – 1:45 pm

Concurrent Sessions WHY NON-QM SHOULD BE PART OF YOUR ORIGINATION MIX

Times are different today and so is alternative lending. In this informative session, you’ll learn what alternative lending means now and why you shouldn’t ignore non-agency options. With the refi market drying up and overall originations expected to be lower this year, lenders are being forced to find new ways to produce volume. With growth potential of over $100 billion in annual originations, lenders who avoid the non-agency market do so at their own peril. By offering non-agency products, lenders can break into an untapped market, increase their reach and help millions of underserved American homebuyers find a mortgage that fits their needs – ultimately growing their business.

Learning Objectives include understanding: •How today’s non-prime/non-agency market is completely different than the sub-prime of old •What programs are available to help challenging borrowers •How to identify and reach potential non-QM borrowers •How to qualify and actively market to them to add volume •How to use alternative lending to successfully differentiate yourself Presented by Jamie Bellingham, Regional Vice President of Sales, Angel Oak Mortgage Solutions.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE

WHY YOU SHOULD LOVE COMMERCIALS

Why it’s smart to shift your focus to serving real estate investors using commercial loans and how to underwrite their deals. If you’re like most originators, you may be wondering how you can stay afloat while refinances and overall originations continue to sink. The good news is you can make a shift that may not only keep your head above water, but help you make MORE money than you did in the retail market.

Objectives include learning: • How commercial loans can save you time and stress and make you more money • Why you should work with investor borrowers and how to find them • How to underwrite commercial loans for investor borrowers Presented by Jeff Bell.

NIPMUC ROOM

THE WHOLE TALE OF WHOLESALE

There’s a lot of discussion in the originator industry about wholesaler practices, benefits and questions.

In this lively discussion, we’ll take a look at the “whole tale of wholesale.” Do you fully understand what your wholesale relationship means to you, and your clients? How do you make the best out of your access to different wholesale products? Bring your questions, comments and concerns to this lively discussion, featuring Allen Middleman, senior vice president of wholesale at Freedom Mortgage.

SHINNECOCK ROOM 1:45 pm – 2:30 pm

Closing Keynote Session RECOGNIZING THE ROCKET REVOLUTION: HOW TO SEE THE DIGITAL DISRUPTION COMING FOR MORTGAGE LENDING

When Quicken Loans launched Rocket Mortgage just three years ago, it tore through the industry and remade the way consumers look at getting a home loan. Increasingly, home buyers want to see simplicity, choice and accessibility all in the convenience of their mobile phone – or, as the marketing slogan goes, “Push Button. Get Mortgage.”

Now, Rocket Mortgage leaders — including Anne Youngblood, VP of Technology Innovation for Quicken Loans — will be at the New England Mortgage Expo, discussing how they pushed this product to market, the effect that it’s had, and what they now see coming as the next big thing – and what you should be looking for, too.

QUICKEN LOANS MORTGAGE SERVICES MAIN STAGE 2:30 pm – 3:00 pm

LAST CHANCE WITH EXHIBITORS RAFFLE PRIZES ANNOUNCED CONFERENCE CLOSES

www.mortgageconferences.com

EXHIBIT HALL FLOOR PLAN FOOD & BEVERAGE

EXHIBITING COMPANY

BOOTH

Virtual Golf

EXHIBIT HALL

Allied Solutions 550 Commercial National AmeriHome Mortgage 830 Capital Inv. Credit Fixers Group AmWest Funding 630 10 60 70 Angel Oak Mortgage Solutions 700 90 100 110 Apex Mortgage Corp.

610 Mortgage Nationwide Temple Flex Appraisal View Appraisal Institute 280 Axos Bank 500 Baillie & Hershman, AATC 160 Strategic Birchwood Credit Services 240 Wallace Lee & Emigrant Old Birchwood WTG Plaza Capital Mason Mortgage Republic Credit Velocity Group Calyx Software 190 Information Resources Home Mtg. Company Title Services, Inc. Carrington Mortgage Services 760 120 130 140 150 200 210 220 230 240 180 170 190 250 260 270 280 290 CATIC 790 160 MA Mortgage CT Chapter of Baillie & Calyx Cherrywood Mortgage, LLC 180 Cherrywood Norcom Factual Data Bankers the Appraisal The Warren Hershman Group Mortgage MPX Software Retail Association Institute CHFA 730 P.C. Citadel Servicing Corp.

670 CMG Financial 810 Parkside Planet Home R.I. Mortgage ValueQuest Commercial Capital Investor Group 70 New Penn Lending Lending XINNIX Inc. Bankers Financial Wholesale Association Appraisal Conn. Mortgage Bankers Association HALL BROADCAST 310 370 380 390 400 CoreVest 680 300 PLAZA 430 440 450 340 420 Credit Plus 600 330 KCMI Sharestates Freedom Dalton + IDS, Inc. Embrace Dalton + Finegold 450 Capital Mortgage Home Loans Finegold Embrace Home Loans 340 Emigrant Mortgage 200 Equity National 650 Fidelity Visio United Fairway Allied Luxury Factual Data 260 First Vendorly National Rehab Lending Wholesale Solutions Independent QuestSoft Mortgage Lending Title Mortgage Mortgage Fairway Independent Mortgage 460 470 480 490 540 550 560 570 580 Corporation 560 510 520 530 590 600 610 620 630 500 Fidelity National Title Group 480 First National AmWest Total Axos Scotsman Apex Credit Plus Bank of RH Funding Expert RCN Capital First American Title 750 Bank Guide Media Mortgage America Funding First National Bank of America 510 First Rehab Lending 460 Carrington First CT Housing Franklin StoneHill Equity Munsons Citadel Franklin American 740 Finance American American Mortgage Lodasoft Group National Chocolate Title Authority Freedom Mortgage 440 640 650 660 670 720 730 740 750 760 Home Point Financial 850 770 780 690 710 790 800 810 680 700 IDS Docs 330 Angel Oak Kriss Quicken Loans QuickSilva CATIC CMG Maxwell Mortgage Corevest KCMI Capital 420 Law Mortgage Services Solutions Financial Kriss Law 800 Lee & Mason 230 Norcom Home Point Miniter Lodasoft 720 Wholesale AmeriHome Group Financial Luxury Mortgage 580 850 840 820 830 Mass. Mortgage Bankers Association 270 ENTRANCE Maxwell 690 Miniter Group 840 Mortgage Flex 110 MPX 170 Temple View Capital 100 Munson’s Chocolates 660 QuestSoft 570 The Warren Group 290 National Credit Fixers 10 Quick Silva 710 Total Expert 620 Nationwide Property & Quicken Loans Mortgage Services 770 United Wholesale Mortgage 540 Appraisal Services

90 RCN Capital 590 ValueQuest AMC 390 NewRez 400 RH Funding 520 Velocity Mortgage Capital 150 Norcom Retail / Branching 250 Rhode Island Mortgage Bankers Vendorly 470 Norcom Wholesale / Correspondent 820 Association 380 Visio Lending 490 Old Republic Title 210 Scotsman Guide 530 Wallace Capital 220 Parkside Lending 370 Sharestates 430 WTG Group 140 Planet Home Lending 300 Strategic Information Resources 690 Xinnix 310 Plaza Home Mortgage 130 StoneHill Group 640

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Freedom Mortgage Corporation is a mortgage lender licensed in all 50 states. NMLS# 2767. Corporate office located at 907 Pleasant Valley Avenue, Suite 3, Mt. Laurel, NJ 08054, 800-220-3333. Please visit our website at freedommortgage.com/state-licensing for our complete list of state licenses. This information is intended for use by mortgage brokers and other industry professionals. This is a business-to-business communication and is not an advertisement to or solicitation of a consumer. For additional information about Freedom Mortgage Corporation, please visit the NMLS Consumer Access page at nmlsconsumeraccess.org.

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