Here’s something for senior management to do some time. Casually ask someone under the age of 30, who is not in the business, like your server at The Olive Garden, how or where they would obtain a home loan. It is very telling, especially if you’re thinking about where to spend marketing dollars. As the Upper Midwest suffers through a heat wave [sarcasm font], millions of marketing dollars, and MI travel & entertainment dollars, will be spent in Atlanta this week. Bring rubbers (for your shoes) as it could be rainy – but 60 degrees F.
Lender Products and Services
Floify continues to lead the fight against margin compression! Their end-to-end mortgage platform has allowed countless loan originators, brokers, and enterprise lenders to fully automate their loan processes, helping to slash operating expenses and boost profitability. Floify’s powerful interview-style 1003, intuitive document management, email/text notifications, and dozens of integrations with credit reporting agencies, eSignature/disclosure vendors and Day 1 Certainty-approved VOA providers, have helped lenders reduce loan origination times by as much as 50%. If you’re looking to minimizing overhead and maximizing production in your mortgage operation, there’s never been a better time to try Floify. Request a live demo to learn more!
Simplify your underwriting process with Loan Product Advisor® asset and income modeler (AIM). Through the expertise of third-party service providers, AIM automates the manual processes of assessing borrower assets and income. AIM reduces the burden of traditional documentation, speeds up the loan origination process and helps you close loans faster. Freddie Mac is working hard to bring you solutions that create efficiencies for your business and improve the borrower experience - giving you a competitive edge. These capabilities are available for Loan Product Advisor submissions and resubmissions on and after December 9, 2018. Gain greater efficiency in your underwriting processes with AIM – get The Freddie EdgeSM.
“Stop Losing Money in 2019! With the mortgage industry becoming increasingly difficult to survive let alone thrive, companies are in search of new marketing strategies to compete in this new era of credit. The Decision Science team at BBM has created an advanced suite of propensity data models that help professional origination marketers identify homeowners who are actively in the market for FHA, VA, Jumbo and Non-Agency loan options. Our average loan amount for active FHA/VA and Non-Agency applications exceed $350K and gross top line revenue of nearly $15,000. If you’re marketing is not reaching these levels of performance than let BBM show you how a targeted marketing strategy focused on propensity modeling and targeted revenue opportunity can change the trajectory of your company. For more information about BBM Marketing Services and about becoming an approved origination partner, please contact Bill Senteno and visit www.bbm.company.
Events and Training
If you are a vendor then you want to register for the webinar Ginger Bell is doing today to find out how to get your company in front of the thousands of mortgage professionals using The Mortgage List!
Join Sierra Pacific Mortgage for a free webinar on 2/4 on Effective Application Interviewing and Review with New URLA to discuss what's needed for a complete Uniform Residential Loan Application, why each piece of data is important and provide best practices for reviewing for discrepancies or potential eligibility issues with supporting documentation.
I will be a guest speaker at two upcoming Wells Fargo Funding first-time homebuyer/affordable product events in key California markets. The free events, in cooperation with Freddie Mac, will be held in Sacramento Tues., Feb. 12th and Anaheim Wed., Feb. 13th, from 11:00 - 3:30 p.m. Pacific (including a networking lunch). The day’s focus will be on helping lenders grow market share in the affordable/first-time homebuyer space. Presenters will cover strategies to connect with first-time homebuyers, including Freddie Mac’s Home Possible, their new HomeOne product, and in-depth insight into the local markets. Approved and prospective Wells Fargo Funding and Freddie Mac clients are welcome. If interested, contact a member of your regional sales team or send an email to CorrespondentDiverseSegments@wellsfargo.com.
Join MWF on the first Tuesday of every month for its Monthly Mortgage Insights live trainings. You’ll get a look into the latest industry news and what it means for your business.
Plaza has posted its February Webinar Calendar. Trainings include education on Fraud, Reverse, VA Reno, Sales, Jumbo and Income.
The National MI February Training Schedule is now available for viewing and registration.
Franklin American published its February 2019 Wholesale “Customer Training Calendar” with topics such as Housing Update – Winter 2019, The Secrets to Being a Networking Superstar, 2018 Tax Reform Review – What’s New?, 90 – Day Marketing Plan, and Selling in a Rising Rate Market.
With the continuous improvement in build quality and variety offered by the manufactured housing (MH) industry, many homebuyers are looking to manufactured homes as a potential solution to the shortage in affordable housing inventory. Join Fannie Mae on February 5th at 3:00 p.m. ET for an introductory session on MH legal issues with Marc Lifset of law firm McGlinchey Stafford. We’ll discuss the role of MH in reaching more homebuyers, as well as the legal differences between site-built and MH mortgage lending. An overview of Fannie Mae’s new MH loan product, MH Advantage, will also be provided. Register Today.
Don’t forget to register for MBA Education’s February 5th Diversity and Inclusion Webinar Series: “How to Provide Quality Services to Immigrant Communities”.
HaMMR author and Arch Global Chief Economist Ralph DeFranco is hosting two complimentary Housing Update webinars in February. Learn more about the opportunities that the new year brings as Ralph shares his insights on how to navigate a slower market, rising interest rates and a continued shortage of entry-level housing. Register for Arch MI’s Housing Update Webinars offered Wednesday, February 6th and Thursday, February 7th.
Lenders and compliance attorneys, if you're in need of URLA updates, integration, and implementation tips or want to start offering eClosings, here you go. You’ll hear from Garris Horn LLP’s Richard Horn and DocMagic’s Gavin Ales in New Loan Application (URLA): Your Questions Answered on Wednesday, February 6th , with the opportunity to submit questions ahead of time and get the answers you need. On Thursday, February 14th, join Fannie Mae’s Shane Hartzler and Pepper Hamilton LLP’s John Levonick in Overcoming Barriers to eClosings for Lenders to learn how to get started.
Hone Your Internal Audit and Risk Management Strategy with CLA on February 5th.
Registration is already underway for the TMBA Southern Secondary Market Conference, February 5th and 6th at The Westin Houston, Memorial City. Announced topics include Servicing, Securities Market, Hedging 101, Execution Strategies, Big Data and Alternative Execution Strategies. TMBA will be holding its Warehouse Conclave in conjunction with the Southern Secondary Market Conference. You MUST register separately for the Warehouse Conclave and the Secondary Conference.
TWMB is a new networking group that will be dedicated to the furtherment of women in the mortgage industry in the State of Texas. An off-shoot of the Texas Mortgage Bankers Association, the TWMB strives to provide opportunities for women from all aspects of our industry to network, engage, learn and grow in their careers, and in life. The TWMB inaugural event will be held in conjunction with the “Texas Southern Secondary” conference in February 2019.
Join NAMB for NAMB Focus on February 6-8, 2019 at the Innisbrook Golf and Spa Resort in Palm Harbor, Florida. “Helping you create a business plan, learn new marketing ideas, discover new technology and more, product showcase sessions on the latest software and products to help you and your business, an exhibit hall featuring a variety of vendors looking to share information and ideas plus plenty of opportunities to network with fellow mortgage professionals.”
Fannie’s trading desk is promoting its “Fannie Mae's Flash MBS® to receive book-entry delivery as soon as 4 days after we receive your Loan Delivery submission. Or, select Fannie Majors and receive book-entry delivery on Fannie Mae’s published Majors as soon as 3 days after we receive your submission. Both options provide additional business days for pooling, up to 2 days for Flash MBS and up to 3 days for Fannie Majors, compared to the standard pool processing option. Plus, there are no processing fees.”
Now that market volatility has resurfaced for mortgage originators, how is your bottom line? Beyond the slick marketing, are you satisfied with the performance of your current hedge advisor? MIAC’s time-tested analytics and experienced traders have been delivering effective risk management services to its clients for nearly 30 years. To learn more contact DiscoverMIAC@miacanalytics.com.
Mostly based on worldwide news, the U.S. 10-year closed Tuesday down at 2.71% as investors awaited today’s Federal Reserve policy meeting. Internationally, the pound dropped after lawmakers voted to renegotiate the Brexit withdrawal agreement with Brussels. Lawmakers voted against a key proposal that attempted to rule out the prospect of the U.K. crashing out of the European Union without a deal. Members of Parliament, including Prime Minister Theresa May, backed a proposal to strip out the most difficult part of the divorce package and re-open talks with the European Union. Asking the EU for something it’s long rejected could increase the chances of a messy no-deal exit. And on home soil, Chinese trade negotiators are in Washington this week with hopes for progress in talks with U.S. counterparts. These talks come as traders’ assessment of economic growth this month have been downgraded by the partial U.S. government shutdown.
Turning to today, the U.S. economic calendar kicked off with the usual MBA Mortgage Applications for the week ending the 25th of January (-3%, with refis -6% and now make up 42% of all apps). Next up was January’s ADP employment change (expected 165k, it was +213k – U.S. employment is strong). The entire set of GDP data is delayed. At 10AM ET, things pick back up again with Pending Home Sales figures for December, and later with the FOMC Rate Decision (expected to hold rates at an upper bound of 2.50% and a lower bound of 2.25% due to a lack of recent inflation). We begin today with Agency MBS worse/down slightly and the 10-year yielding 2.72%.
Homespire Mortgage Corporation proudly announces its ranking on the 2019’s Best Mortgage Companies to Work for by National Mortgage News. The inaugural list honors the nation’s best employers in the mortgage industry. Homespire Mortgage Corporation was ranked the #20 Best Mortgage Company to Work for. This recognition symbolizes the company’s dedication to creating a dynamic work environment that fosters the growth and development of its employees. Since its formation, Homespire Mortgage has expanded its presence into 32 states and D.C., leading to its recognition on Inc. 5000’s List of America’s Fastest Growing Companies in 2017 and 2018. Homespire Mortgage is actively expanding its presence into new markets with its newest Regional Managers, Holly Budz and Peter Walencis. For Branch Manager and Loan Officer Peter Walencis. For Branch Manager and Loan Officer inquiries in Texas, contact Holly Budz.
Inlanta Mortgage, Inc., recently named a Top-20 Best Mortgage Company by the National Mortgage News, announced the addition of Beth Juergens as Director of Branch Development. Juergens, who has more than 25 years of mortgage industry experience, joins Shaun McGuire and the talent acquisition team focused on growing its award-winning team. “Beth is a great addition to our team,” said Paul Buege, President and COO. “She brings real-life, hands-on experience that will help lead our talent growth strategy.” Inlanta, marking its 25th anniversary this year, backs its managers and loan officers with the industry’s latest technology, an operations team that moves and closes loans quickly with no surprises, and a highly engaged, accessible leadership team. If you're looking for an award-winning company with solid tenure, robust support, and outstanding culture, reach out to Beth or Shaun today, or visit our website to learn more about how Inlanta Mortgage can help you each your 2019 goals.
A NJ based lender located in the Greater Philadelphia area is expanding its recruiting department and hiring for additional recruiter help. This lender plans for a 10% growth plan in 2019 and offers a very attractive model to recruit to. This role requires 1 year of loan officer recruiting experience, comes with a salary, an incentive plan and marketing support. The ideal candidate is preferred to be in the Greater Philadelphia area and work out of the corporate office, enjoys goals and challenges and wants to have their best income year in 2019. If interested please send a resume to me for forwarding and specify the opportunity.
NewRez LLC is looking for dynamic, growth-minded, mortgage loan originators to work in-house with a new Joint Venture partnership launching in the Cleveland, Ohio area. NewRez is currently hiring MLOs to serve in-house with their newest partner, a prominent multi-state real estate agency. "We are very excited to partner with another outstanding real estate agency," said Vince Daino, VP of Recruiting and Business Development. "Our Joint Venture platform is second-to-none in the industry and we deliver results to our partners and great opportunities for loan officers." If you are interested in hearing more about how to step into an origination role with an in-house audience, send a note to Vince Daino. Additional opportunities are available for loan officers and producing managers throughout the country within NewRez's existing real estate partnerships. Email Vince for more details.
Stearns Lending welcomes its Account Executives to the Stearns Wholesale Sales Rally January 29-31. Hosted in Dallas, the event’s theme is centered around the 30th anniversary of the company “Strong History. Bold Future.” As the longest tenured Wholesale lender in the market today, the conference will focus on Stearns’ unwavering commitment to the Wholesale lending channel. Designed to tell Stearns’ story and kick off the year, the Sales Rally will provide industry insight, new product and tech offerings along with a focus on a bold future in Wholesale lending. AEs will learn and be inspired through presentations from Glenn Stearns, Stearns’ leadership, and experts from Mortgage Bankers Association and Fannie Mae who will address industry trends and opportunities. “Bringing our Account Executives together every year is extremely important to us – it’s all about collaboration, celebration and our I Can Help You attitude,” says Nick Pabarcus, EVP of Wholesale Lending. If you’re ready to call Stearns home in 2019 email firstname.lastname@example.org.
In retail job news, loanDepot is taking “Modern Lending” to a whole new level with its recently launched Modern Lending Playbook – showup:evolve program. This cutting-edge experience exists to evolve the core strategies of today’s loan officers and instill a new perspective in their minds to meet the consumer’s constantly changing behaviors. From personal branding to digital advertising, local marketing to expanding relationships, and customer experience through mortgage journeys, #ShowUpEvolve provides a roadmap and training platform to develop the modern marketing skills required to be successful in today’s digital age and modern lending era. Leveraging the power of loanDepot’s proprietary tech, real estate partnerships, digital marketing platforms and consumer direct strategies, the opportunity this program provides is unrivaled in the industry today. Click to Watch. Contact to Learn More.
Freddie Mac announced that Sara Mathew, currently chair of its Board’s Audit Committee, has been elected to become non-executive chair of its Board of Directors. Mathew is to succeed Christopher Lynch, who will retire, both as Board chair and as a Director, in February as required by the company’s ten-year limit for Board tenure. Freddie also announced that Tom Goldstein has resigned from its Board of Directors, effective immediately, to focus on his health and family.