OHMP_december11

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NationalMortgageProfessional.com

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Mortgage PROFESSIONALO H I O

M A G A Z I N E

Your source for the latest on originations, settlement, and servicing

OAMP BOARD OF GOVERNORSPhone # E-mail

Shane Marzullo Board Chairman (419) 861-9008 [email protected] Vogel Executive Director (614) 761-1200 [email protected] Nabors Board Member (419) 627-4531 [email protected] Limes Board Member (419) 353-9819 [email protected] Vu Board Member (513) 771-7177 [email protected] McGeorge Board Member (513) 965-0015 [email protected] Fisher Board Member (937) 748-8888 [email protected]

Ohio Association of Mortgage ProfessionalsP.O. Box 64 � Milford, OH 45150

Phone#: (513) 602-1852 � Fax #: (513) 965-0016Web site: www.oamp.biz � E-mail: [email protected]

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The Ohio Association of Mortgage ProfessionalsW e ’ r e w o r k i n g t o k e e p y o u i n b u s i n e s s !

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A Special Look at “Growth Strategies for 2012”Pursuing the Military Niche Market in 2012

By Beverly Ray Frase ............................................................40

Keeping Your Edge in 2012 By Erik Wind ..........................41

A View Into 2012: Looking Back By Erik Wiley ..................41

Building a Team for Growth in 2012 By Leif Boyd ............43

FeaturesThe Gift of Leadership By Mary Beth Doyle ..........................4

The Elite Performer: Don’t be a “Realist” in 2012 By Andy W. Harris, CRMS ........................................................4

Developing a Solid Branch Starts With Being a Servant By Kurt Reisig ........................................................................8

National Mortgage Professional Magazine’s 40 Under 40....................................................................10

ValueNation: Effective Reporting in Automated Valuation Management Platforms By David Rasmussen ......16

The NAMB Perspective ..................................................18

NCRA’s 19th Annual Conference Closes to Great Reviews By Terry W. Clemans................................20

The Secondary Market Overview: From Bonds to Production … Be Prepared By Dave Hershman................................................................22

Lykken on Leadership: Need More Production? Adapt or Die! By David Lykken & Jon Traver ..........................24

Make Real Estate Agents Your Soldiers! By Raymond Bartreau ............................................................26

ColumnsHeard on the Street ........................................................6

NMP News Flash: December 2011 ................................26

New to Market ................................................................32

NMP Mortgage Professional Resource Registry ..........44

NMP Calendar of Events ................................................48

Visit Our

ADVERTISERS

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AppraisalScrub.com ........................................ www.appraisalscrub.com ......................................40

Bay Equity LLC ................................................ www.bayeq.com ..................................................37

Benchmark Mortgage ...................................... www.iambenchmark.info ..............Inside Front Cover

Best Rate Referrals, LLC .................................... www.bestratereferrals.com ..................................23

Calyx Software ................................................ www.calyxsoftware.com ......................................38

CBC National Bank .......................................... www.cbconnex.com ..............................................9

Elliott and Company Appraisers, Inc................... www.appraisalanywhere.com ................................28

Equity Loans LLC .............................................. www.equityloans.com ..........................................27

Flagstar Wholesale Lending .............................. www.paperless.flagstar.com ......................Back Cover

Freedom Mortgage .......................................... www.fmbranch.com ......................Inside Back Cover

Frost Mortgage Lending Group .......................... www.frostmortgage.com/nmp ..............................42

GSF Funding .................................................... www.gogsf.com ....................................................7

Hometown Lenders .......................................... www.hometownbranch.com ................................35

Hondros College .............................................. www.hondros.edu ............................................OH1

Icon Residential Lenders, LLC ............................ www.iconwholesale.com ................................5 & 32

Land Home Financial Services .......................... [email protected] ....................................38

Loyalty Express ................................................ www.loyaltyexpress.com ......................................32

Menlo Park Funding ........................................ www.menloparkfunding.com ................................37

Mortgage Brokers Network Corp, Inc. ................ www.mortgagebrokersnetwork.com ......................25

NAPMW .......................................................... www.napmw.org ..................................................6

Nationwide Equities Corp. ................................ www.nwecorp.com ..............................................33

PB Financial Group Corp. .................................. pbfinancialgrp.com ..............................................38

Polaris Home Funding Corp. (Branches) .............. www.polarishfc.com/TimeForAChange ..................39

Polaris Home Funding Corp. (Wholesale) ............ www.polarishfc.com ............................................31

REMN (Real Estate Mortgage Network)................ www.remnwholesale.com ....................................17

Shortsale Speedway.......................................... www.shortsalespeedway.com/freedemo ................30

TMS Funding.................................................... www.tmsfunding.com ..........................................29

Veros Real Estate Solutions .............................. pmc2012.com ......................................................43

National Mortgage Professional Magazine

TABLE OF CONTENTS

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ONAL

MORTGAGE PROFESSIONAL

MAGAZINE

NMPNMP

December 2011 Volume 3, Number 12 Company Web Site Page

PRESORTED STANDARDU.S. POSTAGE PAIDNMP MEDIA CORP.

NMP MEDIA CORP.1220 WANTAGH AVENUEWANTAGH, NEW YORK 11793

A Message From NMP Media Corp.Executive Vice President Andrew T. Berman

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December 2011Volume 3 • Number 12

1220 Wantagh Avenue • Wantagh, NY 11793-2202Phone: (516) 409-5555 / (888) 409-9770

Fax: (516) 409-4600Web site: NationalMortgageProfessional.com

STAFFEric C. Peck

Editor-in-Chief(516) 409-5555, ext. 312

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ADVERTISINGTo receive any information regarding advertising rates, deadlines and require-ments, please contact Senior National Account Executive Karen Krizman at(516) 409-5555, ext. 326 or e-mail [email protected].

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SUBSCRIPTIONSTo receive subscription information, please call (516) 409-5555, ext.301; e-mail [email protected] or visit www.nationalmort-gageprofessional.com. Any subscription changes may be made to theattention of “Circulation” via fax to (516) 409-4600.

Statements, articles and opinions in National Mortgage Professional Magazineare the responsibility of the authors alone and do not imply the opinion orendorsement of NMP Media Corp., or the officers or members of NationalAssociation of Mortgage Brokers and its State Affiliates (NAMB), NationalAssociation of Professional Mortgage Women (NAPMW), National CreditReporting Association (NCRA) and/or other state mortgage trade associations.

Participation in NAMB, NAPMW, NCRA, and/or other state mortgagetrade associations events, activities and/or publications is available ona non-discriminatory basis and does not reflect the endorsement of theproduct and/or services by NMP Media Corp., NAMB, NAPMW, NCRA,and other state mortgage trade associations.

National Mortgage Professional Magazine, NAMB, NAPMW, NCRA,and/or other state mortgage trade associations do not make any misrepre-sentations or warranties concerning the regulatory and/or complianceaspects of advertisers, products or services and/or the editorial content con-tained in NMP Media Corp. publications. National Mortgage ProfessionalMagazine and NMP Media Corp. reserve the right to edit, reject and/or post-pone the publication of any articles, information or data.

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The 40 Most Influential Mortgage Professionals Under 40This feature, by far, is one of the greatest projects I get to work on as a publisher, butit also is somewhat bittersweet. Sweet because I learn about new up-and-coming mort-gage professionals who are crushing it today or at least laying the tracks to crush it inthe future. It’s also bitter because out of the hundreds of submissions we receive, I canonly select 40. First to be selected are the nominations who’ve received the most votes.Then, we wade through the additional nominees to determine who have some madeunique contributions to the industry.

What’s your 2012 going to look like?Time over time, you’ve heard that failure to plan is the plan to fail. With that in mind, I’d like to share apassage from the timeless, The Strangest Secret by Earl Nightingale:

Think of a ship with the complete voyage mapped out and planned. The captain and crew know exactly wherethe ship is going and how long it will take—it has a definite goal. And 9,999 times out of 10,000, it will getthere.

Now let’s take another ship—just like the first—only let’s not put a crew on it, or a captain at the helm.Let’s give it no aiming point, no goal and no destination. We just start the engines and let it go. I think you’llagree that if it get out of the harbor at all, it will either sink or wind up on some deserted beach—a derelict.It can’t go any place because it has no destination and no guidance.

This is why I always feel that this issue is the most important issue of the year. We hope our December2011 issue provides you with a few growth strategies to incorporate into your 2012 business plan.

Our special look at “Growth Strategies for 2012” starts off with a contribution from Beverly Ray Frase ofUSA Cares on page 40, sharing some ideas on how to work with veterans and active duty servicemembers.It’s rewarding to be able to help those who have helped protect our country. Following that is Erik Wind ofShortSaleSpeedway on page 41 sharing ideas on communication for guideline changes and education astwo items to address in 2012. Following Mr. Wind, another Erik, Erik Wiley, shares with us his business planfor 2012, which includes showing extra love for your real estate agent referrals partners, less recruiting andmore internal growth, more face-to-face and other important growth strategies. Wrapping up the sectionon page 43 is a piece from Leif Boyd of American Pacific Mortgage where he shares his insights on how toplan, hire, train and grow in the new year.

Other “must reads” in this issueWhile we on the subject of growth and planning, make sure you read the piece by Andy W. Harris, CRMSon page 4, “Don’t Be a ‘Realist’ in 2012” where he’s got planning tips, a quote from the great WinstonChurchill, and a reference to my favorite sitcom, “Modern Family.” Next up is a piece from AmericanPacific’s CEO Kurt Reisig on page 8 where he shares his ideas about being a servant to your customers andclients. Later in the magazine on page 22, Dave Hershman shares his insights on planning for the new yearand we feature the latest installment of “Lykken on Leadership” on page 24. This time around, Mr. Lykkenand guest co-author Jon Traver share their thoughts on the importance of leaders adapting new methodsof bringing in production or how they will make themselves extinct in this marketplace! Would you ratherreal estate agents pine for your business than kowtow to them for a deal here and there? On page 26,Raymond Bartreau, chief executive officer of Best Rate Referrals, shares with us his secrets on how to havereal estate agents work for you in his debut article, “Make Real Estate Agents Your Soldiers!”

The holiday season? Try the conference season!Fresh off the conference circuit, this month, you can catch recaps and photos from the two major tradeshows, first the 2011 NAMB/WEST Loan Originators Conference in Las Vegas on page 18 and the NCRA’s 19thAnnual Conference in New Orleans on page 20. Las Vegas and New Orleans you say? Sure, these two U.S.cities are synonymous with good times, but rest assured, the value that each attendee took away from theseconferences is sure to equip them with the tools and ideas needed to succeed in 2012 and beyond.

What’s next?We’ve got big things in-store for 2012 and 2011 has been a blast. We thank you for the feedback and hopeto continue to be your source for everything from originations to settlement to servicing.Until next year ...

Andrew T. Berman, Executive Vice PresidentNMP Media Corp.

National Mortgage Professional Magazineis published monthly by NMP Media Corp.

Copyright © 2011 NMP Media Corp.

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The Association of Mortgage Professionals

2701 West 15th Street, Suite 536 � Plano, TX 75075Phone #: (703) 342-5900 � Fax #: (530) 484-2906

Web site: www.namb.org

President—Donald J. Frommeyer, CRMSAmtrust Mortgage Funding Inc.200 Medical Drive, Suite DCarmel, IN 46032(317) 575-4355 � [email protected]

Vice President—Michael Anderson, CRMSEssential Mortgage3029 S. Sherwood Forest Boulevard, Suite 200Baton Rouge, LA 70816(225) 297-7704 � [email protected]

Treasurer—John Councilman, CMC, CRMSAMC Mortgage Corporation2613 Fallston RoadFallston, MD 21047(410) 557-6400 � [email protected]

Secretary—Olga Kucerak, CRMSCrown Lending222 East Houston, Suite 1600San Antonio, TX 78205(210) 828-3384 � [email protected]

Past President—Jim Pair, CMCMortgage Associates Corpus Christi6262 Weber Road, Suite 208Corpus Christi, TX 78413(361) 853-9987 � [email protected]

Rocke Andrews, CMC, CRMSLending Arizona LLC1996 North KolbTucson, AZ 85715(520) 886-7283 � [email protected]

Fred Arnold, CMCAmerican Family Funding24961 The Old Road, Suite 101Stevenson Ranch, CA 91381(661) 284-1150 � [email protected]

Kay A. Cleland, CMC, CRMSKC Mortgage LLC200 South Wilcox Street #224Castle Rock, CO 80104(720) 810-4917 � [email protected]

Donald Fader, CRMSSMC Home FinanceP.O. Box 1376Kinston, NC 28503-1376(252) 523-5800 � [email protected]

Deb Killian, CRMSGMAC246 Federal Road, Unit C-24Brookfield, CT 06804(203) 778-9999, ext. 103 � [email protected]

Linda McCoyMortgage Team 1 Inc.6336 Picadilly Square DriveMobile, AL 36609(251) 610-0494 � [email protected]

Tom ConwellPresident(800) 445-4922, ext. 1010 [email protected]

Donald J. UngerVice President(303) 670-7993, ext. [email protected]

Daphne LargeTreasurer(901) [email protected]

Marty FlynnEx-Officio(925) 831-3520, ext. [email protected]

William BowerDirector—Tenant Screening Chair(800) [email protected]

Mike BrownDirector—Technology Chair(800) [email protected]

Susan CataldoDirector—Education &Compliance Chair(404) 303-8656, ext. [email protected]

Janet CurtisDirector—New Membership & Elections Co-Chair (212) [email protected]

Renee EricksonDirector—Tenant ScreeningCo-Chair(800) 311-1585, ext. [email protected]

Nancy FedichDirector—Conference Chair(908) 813-8555, ext. [email protected]

Judy Ryan Director—New Membership & Elections Chair(800) 929-3400, ext. [email protected]

Tom SwiderDirector—Legislative Co-Chair(856) 787-9005, ext. [email protected]

Terry ClemansExecutive Director(630) [email protected]

Jan Gerber Office Manager/MembershipServices(630) [email protected]

PresidentLaurie Abshier, GML, CME, CMI(661) [email protected]

President-ElectCandace Smith, CME(512) [email protected]

Senior Vice PresidentJill Kinsman(206) [email protected]

Vice President-Northwestern RegionNita Cook, GML, CME, CMI(360) [email protected]

Vice President-Western RegionLyman King III, CME, CMI(916) [email protected]

Vice President-Central RegionLisa Puckett, CME(405) [email protected]

Vice President-Eastern RegionChristine Pollard(607) [email protected]

SecretaryKatheryn M. Farrell(509) [email protected]

TreasurerJeanne Evans, CME(918) [email protected]

ParliamentarianHulene Bridgman-Works(800) [email protected]

NAMB Board of Directors

National Association of ProfessionalMortgage Women

P.O. Box 451718 � Garland, TX 75042Phone #: (800) 827-3034 � Fax #: (469) 524-5121

Web site: www.napmw.org

OFFICERS

DIRECTORS2011 Board of Directors & Staff

National Credit Reporting Association Inc.125 East Lake Street, Suite 200 � Bloomingdale, IL 60108

Phone #: (630) 539-1525 � Fax #: (630) 539-1526Web site: www.ncrainc.org

National Board of Directors 2011-2012

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It’s no secret to anyone that we’vebeen on a wild ride over the last fewyears in our industry. With 2011

quickly winding down, we’re facing yetanother New Year right around the cor-ner. So how was your 2011? Did the sixinches between your ears help or hurtyour business? Looking back, did youmeet or exceed your goals set earlier inthe year? What do you expect for 2012?There are two typical ways peopleaddress these questions … they eitherignore their failure to meet goals andcontinue with business as usual, orthey continue to adapt and innovatewith new market opportunities andgoals to crush.

I was recently watching “ModernFamily” (which is a great show by theway) and the episode was about the“realists” and the “dreamers” of thefamily. There were members of eachfamily that felt as though other familymembers were holding them back bytheir negative perception. The familybroke apart into “teams” and there wasa debate about the possibility of sendinga pumpkin 100 yards with a sling shot.Of course, the debate thickened andthey had to prove each other wrong byheading to the football field and testingthe theory. The dreamers teamed up totake on the pumpkin tossing challengewhile the realists stood on the sidelinesshaking their heads.

This analogy is a little silly, but real-ly does put things into perspective.There is a distinct difference betweeneach person and how they perceiveinformation and challenges (such asthe ones we’ve faced in our industry).I’ve found that many who claim to berealists are, in reality, predominantlypessimists. They usually do not evenrealize they’re holding themselves backby challenging the possibilities, similarto good ideas without action. Many ofthese pessimists also view optimistssimilar to how this show portrayedthem as “dreamers.” We can neverassume that just because someone is

optimistic, that they are also naïve orignorant. An unrealistic or uninformedoptimist definitely could use a littledose of reality, but an informed opti-mist is a force to be reckoned with.

The optimist sees the glass as halffull, while the pessimist sees the glassas half empty. The realist just sees aglass of water. You’ll find that anyoneyou talk with working in the mortgageindustry lately has one view or another.They definitely don’t see just a glass ofwater. There are primarily pessimistsand optimists in our world. Now I’m notsaying that a true realist cannot adapt,change and survive. What I am saying isthat in order to truly succeed in ourindustry, being a true realist isn’tenough. You owe it to the future ofyour business to choose the path thatyields the highest dividends, which isthe path of the informed optimist. Start2012 prepared to take on any challengewith a different perspective and withNO LIMITS.

From my family to yours … MerryChristmas and Happy New Year!

Tip of the monthTo have a successful 2012 you musthave a vision. Take a half or full day offin December dedicated only to strategic2012 business planning. If you don’tschedule the time, you’ll find yourselfblind in January.

Andy W. Harris, CRMS is president andowner of Lake Oswego, Ore.-based VantageMortgage Group Inc. and 2010-2011 presi-dent of the Oregon Association ofMortgage Professionals. He may be reachedby phone at (877) 496-0431 or [email protected] orvisit AndyHarrisMortgage.com.

Don’t Be a “Realist” in 2012“A pessimist sees the difficulty in

every opportunity; an optimist seesthe opportunity in every difficulty.”

—Sir Winston Churchill

The Giftof Leadershipby Mary Beth Doyle, Founder

Take a moment to reflect upon the substantial market

changes that have occurred since January. Interest rates

fell to record lows, and the government implemented

numerous policies to stimulate economic recovery. As

a respected mortgage professional, do not overlook

the responsibility of continuously educating clients,

partners & prospects on money-saving strategies and

opportunities. You can count on LoyaltyExpress to get

the job done for you, with high-impact results.

Discover why top-producing loan officers & executives

rely on LoyaltyExpress to maximize loan production:

Our proprietary technology allows us to automate consistent, high-impact communications that motivate customers, partners, and prospects to take action.

Our wide selection of targeted communications delivers unprecedented value. By combining direct mail, e-mail & on-demand templates –

our marketing solutions reach & engage target audiences through cross-media formats and channels.

We continuously impact closed loan production. The sophistication of our data mining technology steadily identifies & promotes new business opportunities and referrals.

As the holiday season approaches, we wish you the best

for a healthy and prosperous new year. It would be a

pleasure to assist you in the days and months ahead.

LoyaltyExpress is the leading mortgage marketing company in the nation. For more information:

call 877.938.1175 or visit

www.loyaltyexpress.com.

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For additional information regarding Conforming, Jumbo, FHA and VA Lending,Call us at 1-888-247-4207 or visit us online at www.iconwholesale.com

Icon Residential Lenders is one of the nation’s leading Conforming, Jumbo, FHA and VA

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Total Mortgage ServicesNow Licensed in Ohio

Total Mortgage Services LLC has announcedthat it is now registered with the state ofOhio’s Department of Commerce, Divisionof Financial Institutions, under theMortgage Broker Act Mortgage BankerExemption, and is now entitled to brokerresidential mortgage loans as a Freddie Macseller/servicer, Fannie Mae seller/servicer,VA non-supervised automatic lender, andFederal Housing Administration (FHA) non-supervised mortgagee. Total Mortgage cannow originate residential mortgage loans in24 states and the District of Columbia, withfive additional state licenses pending.

“With both mortgage interest rates andhousing affordability close to historicallows, Total Mortgage is excited aboutentering the Ohio market at this oppor-tune time and helping borrowers withtheir purchase and refinancing needs,”said John Walsh, president of TotalMortgage Services. “Total Mortgage iscommitted to delivering exceptional mort-gage advice, one-on-one personal serviceand some of the lowest mortgage rates inthe industry to every borrower. Our goalday in and day out is to deliver the perfectmortgage and avoid any unpleasant sur-prises or delays.”

Veterans Mortgage Forum Launched toEducate U.S. Veterans on Homeownership and VA Products

Lenders ComplianceGroup has formed theVeterans MortgageForum, an interactive

and discussion Web site found online atVeteransMortgageForum.blogspot.com.Membership in the Veterans MortgageForum is free and open to all, and invita-tions have been sent to industry partici-pants. Veterans Mortgage Forum is anOpen Group on LinkedIn, with socialmedia functionality in Twitter andFacebook. In addition to the social net-working media, Veterans Mortgage Forumwelcomes articles and posts from contrib-utors, thereby further enhancing the infor-mation available to veterans and otherinterested parties.

“Often, veterans are improperlyinformed about VA mortgage financingand we have found that there is a need for

greater familiarity with various issuesinvolved in such financing,” said JonathanFoxx, president and managing director ofLenders Compliance Group. “And that iswhy we formed the Veterans MortgageForum, specifically to expand the knowl-edgebase of veterans and enable them tobe more effective and educated.”

Veterans Mortgage Forum is not associ-ated or affiliated with the VeteransAdministration (VA). The views expressedare those of the contributing authors andcommentators, as well as news services andWeb sites linked to it, and do not necessar-ily reflect the views or policies of any gov-ernmental agency, business entity, organi-zation or institution. Veterans MortgageForum is not affiliated with and is not amortgage broker, mortgage banker or afederal or state financial institution.

“The Veterans Mortgage Forum site isnot a referral source for loan originators orU.S. veterans who seek a mortgage, nor is itassociated or affiliated with the VA or anyperson or entity involved in originating a VAresidential mortgage,” said Foxx. “VeteransMortgage Forum’s Administrator will banany comments that use this forum as areferral source. This forum has a veryfocused purpose: It has been created toempower, educate and provide a space todiscuss and share information about VAresidential mortgage issues. It should notbe used as a source of referrals or a way tooriginate loans.”

LoanSifter to Feed Google With Live PricingLoanSifter Inc. has announced a strate-

gic relationshipwith Google Inc.

that gives consumers access to mortgageloan products and real-time pricing basedon LoanSifter’s technology, including side-by-side comparisons of mortgage loanproducts from multiple lenders throughGoogle Advisor. Google Advisor help con-sumers shop for mortgages online byretrieving quotes based on the borrower’sspecific loan criteria. Through a strategicrelationship between both companies,Google will leverage LoanSifter’s technolo-gy—which automates pricing for lendersusing a real-time database of investor pric-ing and eligibility content—to provideGoogle users with information on mortgageproducts and pricing from the lendersusing LoanSifter. When Google users getthese rates, LoanSifter’s lenders will receivequalified online leads.

Greg Ulrich, production manager at

NMLS

National Education

National Training

National Networking

NAPMW is a community of nearly 2,000 professionals across the Country who engage in the mortgage / banking industry. Men and women from all backgrounds have joined NAPMW because they want to excel at what they do. Employers who want excel-lence from their employees engage with NAPMW for up-to-date education. Both professionals and employers have found there is a place for them in NAPMW.

To Join NAPMW visit:

www.napmw.org

or call: 1-800-827-3034

Have Questions? Please

feel free to e-mail us at:

[email protected]

Organized for the purpose of providing education to profession-als in all phases of the mortgage industry, NAPMW offers educa-tion via many venues – seminars and workshops held around the country, on-line, and at its National Education Conference held each May.

NAPMW membership gives you exclusive access to timely educa-tion regarding the regulations affecting your career such as a FREE TO MEMBERS monthly webinar on industry updates AND our 8 hour NMLS continuing education class offering (NMLS Provider # 1400309)

If you believe in helping to elevate the educational standards of this industry, or assisting in developing the most competent industry work force, then you believe in NAPMW.

NAPMW is not a women’s organization. But since women make up the majority of professionals in the mortgage/banking profes-sion, our purpose is to help them advance in business, personal, and leadership development.

Coast to Coast Associations

Discounted Services

Industry Updates

Education

Networking

Leadership

Why NAPMW?Three Simple Reasons

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Gorey, president of MortgageKeeperReferral Services. “We look forward to reach-ing Ocwen’s Spanish-speaking customerswith the same high quality data.”

Zillow to Provide HomeShopping Experience for AOL UsersZillow has announced a partnership with

AOL to bring the ZillowMortgage Marketplaceshopping experience toAOL Real Estate and

DailyFinance users, providing tools toresearch, shop for and compare mort-gages. The sites’ visitors will have easyaccess to important home financial infor-mation, such as mortgage calculators,real-time mortgage rates, and Zillow’s

innovative mortgage shopping experi-ence, which allows users to compare per-sonalized loan quotes and lender reviews,and connect directly with lenders.

“AOL Real Estate has many thousands ofusers who are either home owners or inter-ested in buying a home, so we’re excited tobe able to offer them important financialtools and personalized loan quotes fromZillow Mortgage Marketplace,” said JayKirsch, vice president and general managerof AOL Marketplace. “We’ll be offering thekind of useful financial information ourreaders want and need, including the abilityto find out how much they can afford whenpurchasing a home as well as the ability totrack historical mortgage rates and more.”

continued on page 16

Fairway Independent Mortgage Corpora-tion in Colleyville, Texas, believes thatGoogle’s popularity provides a great oppor-tunity as another channel for borrowers toreach the company, without substantialinvestment costs.

“This saves us money, allowing us to passa greater savings to the consumer,” Ulrichsaid. “We chose LoanSifter for our Googleauto-quoting because it enables us to cus-tomize our pricing more accurately andeffectively. Other vendors require manualsupervision, which would have been prob-lematic in keeping up with market shifts.”

Consumers who search for popular mort-gage-related terms or phrases on Google aredrawn to Google’s proprietary mortgageGoogle Advisor, where they can anonymous-ly provide details such as their desired loanamounts and credit scores. Google will thenretrieve multiple reliable offers fromdependable lenders, placed side-by-side sothe borrower can compare them. Afterinvestigating different scenarios and choos-ing a lender, the borrower is then able tocontact the lender by phone or e-mail.Borrowers do not have to fill out lengthyforms or click through walls of advertise-ments in order to access up-to-the-minuteloan products and rates, and the leads gen-erated to lenders are anonymous, so thatborrowers can protect their private informa-tion until they are ready to move forward inthe mortgage process.

“Our relationship with Google will be oftremendous benefit to both lenders andconsumers,” LoanSifter President BruceBacker said. “A growing number of borrow-ers are using the Internet to find the bestpossible mortgage deals, and Google’simmense popularity makes it a first stop formany. Borrowers benefit from the side-by-side comparison in an open marketplace,while lenders benefit from LoanSifter’s abili-ty to accurately price mortgage scenarios ontheir behalf.”

Ocwen ServicingPartnership to BenefitSpanish-SpeakingPopulationOcwen Financial Corporation has

announced that its sub-sidiary, Ocwen Loan ServicingLLC, has entered into anagreement with

MortgageKeeper Referral Services to easilyconnect English and Spanish-speakinghomeowners to high quality, well-vettedcommunity services via MortgageKeeper’sdatabase. Ocwen customer care representa-tives already use MortgageKeeper data tohelp customers who call Ocwen directly.Ocwen’s English-speaking customers canaccess MortgageKeeper data throughOcwen’s “Mortgage Instant Help Center” onOcwen.com. Customers type in their zipcode, and choose from up to 20 differentservice categories to receive a list of local,well-qualified nonprofits and governmentagencies ready to help them with their per-sonal and financial needs. Examples ofMortgageKeeper resources include employ-ment services; utility, food and prescriptiondrug assistance services; and senior services.Now, Spanish-speaking customers will haveaccess to the same best-in-class resources.

“Underperforming loans are bad for

everyone—for our customers, the econo-my, and the community,” said Ron Faris,president and chief executive officer ofOcwen. “When we saw that the use of theMortgageKeeper product significantlyimproved loan performance, it was impor-tant to make the product more accessible toall of our customers.”

Since Ocwen became a MortgageKeeperclient two years ago, Ocwen customershave received more than 90,000 refer-rals—referrals that Ocwen data showimproved homeowner’s loan performancein 38 percent of cases.

“Based on Ocwen’s research, it seemsthat quality servicing, progressive loanmodifications, and MortgageKeeperresources make a strong, positive impact onOcwen customers,” said Rochelle Nawrocki

By Kurt Reisig

In today’s uncer-tain and highlyfragmented mort-

gage industry, mort-gage professionalsmust continuallystrive to distinguish

themselves. Reforms over the past fewyears have drastically limited the abili-ty of originators to differentiate basedon loan rates and structure, but thereare still ways to stand out. Those whohave made their mark as successfulbranches, brokers, loan officers andsupport staff often have a couple thingsin common.

First, they demonstrate an under-standing that their role requires themto serve other people within theirbranch, as well as their clients.Second, successful lenders and loanofficers practice a few old-fashionedsales techniques that are paramount

to increasing sales, retainingcurrent clients and get-

ting referrals fornew business.

Sales trainingMortgage rates and loan programs arerelatively similar across the industry rightnow, so lenders and loan originators mustdevelop new ways to differentiate them-selves from their competitors. One way todo this is to develop a streamlined, inter-nal process for loan approvals. This posi-tions originators to build relationshipswith referral partners and ensure thatloans are approved for consumers and realestate agents in a timely manner.Originators who provide customers with arealistic timeline and deliver results ontime will build credibility. This will help anoriginator to establish a positive reputa-tion and drive repeat business.

Once good internal processes havebeen developed, loan originators shouldsharpen their basic sales techniques.There are time-tested techniques, oftenovershadowed in the age of technology,where many salespeople rely heavily one-mail marketing campaigns, digital adbuys and other high-tech methods ofcommunication. These campaigns will beeven more effective and will achieve ahigher return on investment (ROI) if aloan originator takes that extra step tomake it personal. Brokers and loan offi-cers should pick up the phone and callpotential customers, reach out to currentcustomers and regularly meet with cur-rent and prospective clients face-to-face.

Conducting a personal phone call ormeeting gives a loan originator theopportunity to add value to the servicesthey offer. They can learn more aboutwhat a customer’s needs are and can tai-lor their services specifically to that client.They can offer guidance and suggestionsabout a loan to a client. This helps makean originator an even stronger serviceprovider moving forward with clients. Itshows that they’ll go the extra mile tohelp their clients make good decisions.

Taking a personal approach is a proventechnique for success in every type of busi-ness or sales, and using it today can be aninvaluable tool to stand out.

Developing a culture of serviceDuring the booming years of the housingmarket, many mortgage companies gotso caught up in making money that theyforgot they were in the service industry.There is a difference between being aservice provider and truly being servantto customers and clients. A serviceprovider offers a service that their cus-tomers need, however, that does notmean that each person who provides aservice is a good servant. A servant is onewho remembers that they should addvalue and go beyond the basics. They seetheir organization as one that serves tobenefit their customers, clients and teammembers, for the long haul. They do notthink transactionally. Their focus is onthe long-term relationship.

An organization with a servant cultureis one where employees work as a teamto understand and better assist clientneeds. Not every originator understandsbeing a servant. Building a “servant cul-ture” must start at the top, with manage-ment setting an example for loan officersand assistants of what it means to be aservant. Once each staff memberembraces the concept of service and real-izes that no task is too small (or too big),the company as a whole will benefit.

A servant culture is a key tool to gen-erate new business. A client who hasworked with a company that provides anecessary service versus one that actuallyserves well will likely be more satisfiedwith the latter. In turn, they may be morewilling to recommend that specific com-pany to friends and colleagues.Eventually, this will build a group ofloyal, satisfied customers who willincrease word-of-mouth referrals andgenerate new leads for new customers.The cycle will continue as these new cus-tomers provide additional referrals andtell more people about the excellent serv-ice they received.

To develop a company culture of ser-vants, many companies have turned

their organizational charts upsidedown. An executive team that serves itsstaff produces a staff more willing toserve the executive team and moreimportantly, customers. In this business,every staff member—no matter theirposition or the office they work in—must realize that they are servants toeach other, vendors, and externalclients and customers.

To act as a servant in the mortgageindustry, companies and originatorsmust remember that they first have toearn that role. It takes solid sales skillsand a personal touch to find a client orcustomer in today’s competitive market.If a broker sells a service and can deliv-er a good product, on time and withimpeccable integrity, they have earnedthe opportunity to serve. This will leadto repeat business and new customerscoming through the door simplybecause of referrals. The number ofloans that a branch closes will continueto grow, increase branch revenues and(ideally) increase pay for every branchstaff member.

Many companies may never becometrue servants, though the commitmentto seek it is most important and loanoriginators must consistently strive tobecome better servants. For managerswho want to increase revenues and, inturn, their salaries, their work as ser-vants and salespeople is never done.

Now, more than ever, the art of serv-ice has come into the forefront of themortgage industry. Those who sell welland provide excellent service to theircustomers will continue to be top per-formers. Those who embrace a true “ser-vant culture” will experience this successto an even greater level. Serving is agreat strategy!

Kurt Reisig is the founder and chief exec-utive officer of American PacificMortgage Corporation. He may bereached by phone at (916) 960-1325 or e-mail [email protected].

Building a ‘servant culture’

must start at the top, with

management setting an example

for loan officers and assistants of what

it means to be a servant.

“

”

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In our third annual “40 Under 40” feature, you will find a listof the top mortgage professionals under the age of 40, asvoted on by their peers, who exemplify professionalismand top production in today’s housing market. Despite the

rough waters of the U.S. economy and the ever-shifting land-scape known as the mortgage industry, these 40 professionalshave persevered in a time of great uncertainty.

In assembling this list, we at National MortgageProfessional Magazine took some criticism when we beganthis endeavor. Many felt a list of this nature ignored many,and others felt that a list of this type is a “thing of the past,”while some even cited age discrimination, but we firmlystood by our decision to assemble this group. Like their

industry pioneers before them, these individuals are theones who carried the torch of professionalism in the year2011 and beyond, fighting the daily barrage or regulatoryand legislative pressure and negative coverage by the main-stream media as the culprits for the collapse of the U.S.economy. However, they forge forward, as they continue tolead by example and set the bar for education, professional-ism and excellence in the mortgage industry.

We’d like to congratulate all of the following individualsnamed to our “40 Under 40” list—in no particular order butalphabetical—and thank all the nominees for their participa-tion in our second annual “40 Under 40: The 40 Most InfluentialMortgage Professionals Under 40” feature.

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BRIANNE ASTONSenior Business AnalystCBC National Bank � Alpharetta, Ga.www.CBConnex.comBrianne Aston attended the University of Georgia andgraduated in 2002 with a degree in finance. In the mort-gage business since 2002, Brianne has held many posi-tions throughout her career, including closer, processor,sales assistant, and her current role as senior businessanalyst and bank officer with CBC National Bank.

TIMOTHY BAISEPresident & Chief Executive OfficerTop Flite Financial � Williamston, Mich.www.TopFliteFinancial.comAs president and chief executive officer of Top FliteFinancial, an Inc. 5,000 company, Timothy Baise hasbeen changing the lending industry, one person at atime, by being and staying in compliance with stateand federal laws. As many lending firms have down-sized or have closing their doors altogether, Top FliteFinancial has been increasing its revenue and hasexpanded its operations through the toughest eco-nomic times the mortgage industry has ever seen.

RAYMOND BARTREAUChief Executive OfficerBest Rate Referrals � Las Vegas, Nev.www.BestRateReferrals.comRaymond Bartreau is a marketing specialist whosefocus is the mortgage industry and how to effectivelymarket in today’s conditions. Raymond’s company,Best Rate Referrals, is a marketing firm specializing indirect mail, call center campaigns and online market-ing. Best Rate Referrals was named to the Inc.500/5000 list for the second consecutive year in2011.

JENAY BOWENSenior Loan OfficerService First Mortgage � Richardson, Texaswww.ServiceFirstOnline.comWith a BBA in both finance and real estate, JenayBowen got her start right out of college and hasworked her way up as one of the top producers atService First Mortgage. Jenay began as a processor,transitioning to underwriting before becoming a loanoriginator. Jenay has been in the industry for morethan 10 years and is a certified Federal HousingAdministration (FHA) Underwriter.

MARK W. BOYERChief Executive OfficerFoundation Financial Group � Jacksonville, Fla.www.FFG.comMark W. Boyer began his role as chief executive offi-cer of Foundation Financial Group in January of 2011at the age of 36. He immediately launched a massiverealignment while preparing to open the company’ssixth regional sales center in Rochester, N.Y. Markbegan laying the groundwork for what has becomeknown as “Project Sequoia,” the company’s newgreen initiative that will save Foundation FinancialGroup $50,000 its first year. Foundation FinancialGroup was named to the Inc. 500|5000 in 2011.

CHRIS BROWNHome Finance AdvisorCertified Mortgage Planners � Orlando, Fla.www.MortgageChiliBlog.comChris Brown is a vocal leader for originators seeking to changetheir own futures in the mortgage industry. Chris activelygrows his business by acting as a “coach” for his partnersrather than a vendor, earning the nickname, “Chris theImplementer.” In addition to his role as home finance advisorwith Certified Mortgage Planners, Chris is also a publishedauthor, frequent contributor to local Orlando FOX News affiliateand AM radio shows.

JOHN F. CADYSenior Vice President of RetailStearns Lending Inc. � Santa Ana, Calif.www.StearnsBranching.comThroughout his time on the retail side of mortgage origination,John F. Cady has consistently applied focus to training, moti-vating and mentoring and as a result, has enabled his previ-ous companies, including MetLife and PrimeLending, toaggressively expand their retail footprint. At Stearns Lending,John has continued his momentum to restructure and cata-pult the firm’s retail model. In less than six months, he hasincreased new branch signings by 96 percent with the addi-tion of 24 branches.

DEREK EGEBERGBranch Manager/Loan OfficerAcademy Mortgage � Yuma, Ariz.www.TheApprovalCoach.comDerek Egenberg’s passion is building his automated ACTdatabase and teaching other loan originators how tobetter track and communicate with their clients. Derekhas done many training calls with loan officers nation-wide, describing his world class ACT database and howhis communication methods are key to success. Derekhas been featured in various interviews and industrytrainings, such as Mortgage Success Source’s “MasteryBusiness Plan” in November of 2011.

MATHEW GOLDMANRegional Vice President/Branch IntegrationFBC Mortgage LLC � Orlando, Fla.www.GoldmanLoans.comMatthew Goldman is a 12-year veteran of the mortgageindustry. He has been a very active member of both theMortgage Bankers Association of Central Florida (Governor)and of the MBA of Florida as a Board of Director. He is con-sistently called upon to chair important committees orevents and has always been very successful in ensuringthat any event that he is involved in is successful.

DAN GREENLoan OfficerWaterstone Mortgage � Cincinnati, Ohiowww.TheMortgageReports.comOhio resident Dan Green is a loan officer withWaterstone Mortgage. In 2006, Dan founded Bring theBlog, a provider of daily blog content. In 2010, Danlaunched Rate Quote Widget, a standalone applicationfor loan officers, installed directly on a Web site thatimproves mortgage lead conversion rates and keepsloan officers from wasting time on “bad leads.” Danalso writes a daily mortgage blog, The MortgageReports, seen by Dan as a tireless effort that attractsnew business and educates the industry.

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SHAUN GUERREROLoan OfficerThe Legacy Group � Silverdale, Wash.www.ShaunGuerrero.comShaun Guerrero started in the business of being a loanofficer when he was 20, and has partnered with a greatlending platform that has allowed him to do 100 per-cent financing on homes sold at foreclosure auctions.Shaun has hosted many events in the local communitythat have attracted hundreds of members of the smallbusiness community to learn how to integrate network-ing methods, sales training and video into their busi-ness model.

JULIAN HEBRONBranch Manager/Mortgage BankerRPM Mortgage � San Francisco, Calif.www.RPM-mtg.com/julianJulian Hebron funds $50 million in mortgages annuallyand operates runs San Francisco-based RPMMortgage’s branches. Julian manages partnershipswith major real estate firms and building groups and isRPM’s lead marketing. Launched in 2010, Julian’s blog,TheBasisPoint.com, is a must-read for consumer edu-cation and insider news. Julian’s long-term media mis-sion isn’t loan leads, it’s to bring credibility to the mort-gage industry so consumers, regulators and the main-stream media are constantly reminded how smart,committed, and responsible people in the mortgageindustry are.

JASON “HAMMER” HELMERDirector of Business DevelopmentFirst Priority Financial � Fort Lee, N.J.www.FirstPriorityFinancial.comAn active industry participant, Jason “Hammer” Helmertrains and coaches thousands of originators on currentindustry topics and origination strategies. Hammer cur-rently has 14,000 subscribers to RateAlert who attend hisWebinars, in addition to approximately 3,500 loan origi-nators who subscribe to his FPF PowerTips video market-ing messages and blogs.

DUSTIN HUGHESOwnerNorthwest Mortgage Advisors � Portland, Ore.www.Dustin360.comDustin Hughes is a nationally-recognized loan officerand the owner of Northwest Mortgage Advisors inPortland, Ore. Dustin’s unique and ingeniously creativevideos have inspired more than 350,000 viewers onYouTube! Dustin was recently diagnosed with Stage 4GBM brain cancer, and as a result, has continued toinspire the industry through his message.

TOM HURSTExecutive Vice President StreetLinks Lender Solutions � Indianapolis, Ind.www.StreetLinks.comAs a founding partner of StreetLinks Lender AppraisalSolutions, Tom’s focus on strategy, ops and salesproved to be instrumental in the firm’s growth into anindustry-leading partner. StreetLinks currently housesnearly 600 employees and works with more than 350clients, including many of the top 10 banks and mort-gage lenders in the country.

DANIEL H. JACOBSPresident of Retail BranchingResidential Finance Corporation � Charlotte, N.C.www.GoBranch.comA recognized mortgage thought leader and entrepre-neur, Daniel H. Jacobs is an executive with 15-plusyears of mortgage industry experience who enjoysbuilding and growing companies that solve industryproblems. A mortgage banker since 1996, Daniel isthe former chief executive officer of 1st MetropolitanMortgage until he sold the firm in 2009. Daniel is reg-ularly featured as subject matter expert in trade jour-nals, The Wall Street Journal and other major publica-tions. He has also served as a panelist and speaker atmajor industry events for the National Association ofMortgage Brokers (NAMB) and the Mortgage BankersAssociation (MBA) among others.

CHAD JAMPEDROChief Executive OfficerGSF Mortgage Corporation � Brookfield, Wisc.www.GSFLending.comAs chief executive officer of GSF MortgageCorporation, Chad Jampedro has been changing thelending industry and the landscape of what a mort-gage professional is and does. Chad converted GSFfrom what was known as a mortgage broker companyto a mortgage banker at a time when the broker busi-ness was booming. In making the transition, Chadgrew the company from an $11 million company to a$70 million company.

DAN KELLERLoan OfficerHometown Lending � Everett, Wash.www.MyMortgageGuyDan.comDan Keller adds value to his real estate agent referralpartner network by serving as a transparent resourcefor homebuyers preparing to purchase a home. Dancurrently has more than 7,000 views on his YouTubechannel, and more than over 600 followers on eachFacebook, LinkedIn and Twitter. His blog and socialmedia accounts for more than 60 percent of his closedloan volume, and the rest comes from relationshipsbuilt with real estate professionals through teaching“Tech-related” classes on blogging, social media andvideo marketing.

RYAN KOHLChief Executive Officer/Vice PresidentExpress Capital Mortgage Inc. � Chandler, Ariz.www.ExpressCapitalMtg.comRyan Kohl is owner and founder of Express CapitalMortgage and was instrumental in creating multiplechannels of lending for foreign buyers purchasingreal estate in the state of Arizona. Since mid-2010,Ryan has dedicated his resources to finding capitalfor these buyers. Primarily focused on Canadiansand Australians, Ryan has educated many on thehomebuying process in America and relayed them toother industry professionals for local homebuyingassistance.

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ERIC KUJALANational Sales and Consulting ManagerDocVelocity � Troy, Mich.www.DocVelocity.comWith his knowledge of the industry and years of expertise,Eric Kujala applies it to his sales and consulting roleimplementing DocVelocity as the firm’s national sales andconsulting manager. Through DocVelocity, Eric bring tothe market a Web-based paperless solution that simpli-fies the mortgage loan origination process by creating anonline collaboration tool for staff, lenders and borrowers.

JOHN V. LEVONICKChief Legal and Compliance OfficerMortgage Cadence LLC � Denverwww.MortgageCadence.comJohn V. Levonick has worked closely with mortgage orig-inators, servicers, technology vendors, commercialbanks, hedge funds and insurers on identifying and man-aging regulatory compliance risk through the use of tech-nology. In working with each aspect of the industry, Johnhas obtained the ability to understand risk, advise on bestpractices, and has worked to enhance technology toincrease productivity, operational quality, while reducinginstitutional risk and enhancing asset quality. John is aregular speaker and participant in industry conferenceson mortgage compliance risk, and has written numerousarticles for various trade publications.

KHAI MCBRIDEOwnerKhai McBride Companies � Los Angeles, Calif.www.KhaiMcBride.comAs owner of Khai McBride Performance, Khai’s marketingand teaching methodologies are recognized by top com-panies and producers nationwide. A faculty member ofMortgage Success Source, Khai is a highly-sought-afterindustry speaker, innovative coach and consultant,coaching some of the industry’s top performers in thearea of mindset and performance.

BRETT MCGOVERNPresident and OwnerBay Equity Home Loans LLC � San Franciscowww.BayEq.comBrett McGovern has more than 15 years of experience inreal estate sales and lending. Prior to joining Bay Equity,he was senior vice president of Grubb Ellis Company inSan Francisco. As president and owner of Bay EquityHome Loans, Brett is responsible for key corporate func-tions, including investor and warehouse line relations,oversight of accounting and secondary functions andmarketing and corporate communications.

SCOTT A. MILNERExecutive Vice PresidentUS Mortgage Corporation � Melville, N.Y.www.USMortgage.comScott A. Milner has 10-plus years of extensive equityderivatives and structured products sales experience hav-ing worked at some of the largest investments banks inthe world, including ABN AMRO, Deutsche Bank, CreditSuisse and the Royal Bank of Scotland. Currently, Scott isleveraging his financial, analytical and business acumento embark on a new career in the mortgage bankingindustry, having joined US Mortgage Corporation in 2010as their executive vice president.

AMANDA NILESSenior Mortgage BankerSummit Mortgage � Portland, Ore.www.NilesHomeLoans.comAmanda Niles has been a mortgage banker for 10 years.She earned two degrees from the University of Oregonand her MBA from George Fox University. Amanda was amember of National Mortgage Professional Magazine’s2010 “40 Under 40” list and she has continued her pur-suit of being a top originator in Oregon and Washington.

EDDY PEREZPresidentEquity Loans LLC � Atlanta, Ga.www.EquityLoans.comEddy Perez has more than 10 years of experience in themortgage industry as a top producing loan officer,sales/branch manager and executive. Along with his part-ner, Kunjan Patel, Eddy transformed a small refinance-based mortgage broker into a growing force in the mort-gage industry. His five-year plan began with a commit-ment to solid warehouse and investor relationships andgrew into one of the more profitable purchase-drivenlenders in the Southeast.

JOE PUTHURPresidentMortgage Coach � Irvine, Calif.www.MortgageCoach.comJoe Puthur has been president of Mortgage Coach since2009. To date, he has launched four products for thecompany including: Ratewatch, Certified MortgageCoach, Social Pro and Edge. Joe’s eight-plus years ofindustry experience help him develop the tools that loanofficers must use to remain complaint, grow their practiceand educate consumers about their mortgage purchase.

PHIL RASORIChief Operating OfficerMCT Trading � San Diego, Calif.www.MCT-Trading.comPhil Rasori has led MCT Trading’s operations since 2005.His areas of expertise include complex financial modeling,computational dynamics and linear programming foroperational optimization. He developed the mortgagepipeline hedging algorithms that form the foundation ofMCT’s HALO Program. He has also pioneered severalmetrics that have become standard industry parlance,including “beta pull-through” factors. In addition to bank-ing clients, Phil has consulted with the government-spon-sored enterprises (GSEs) and the U.S. government onhedging best practices for community banks.

STEVE RENNIEManaging PartnerHammerhouse LLC � Mission Viejo, Calif.www.TeamHammerhouse.comSteve Rennie is a founding partner of Hammerhouse LLC,a national recruiting and strategic growth firm with mort-gage sales and leadership placement at its core. Stevehas lead the implementation and execution ofHammerhouse’s model-matching process for the firm’sclients and candidates. He has been extremely success-ful in working with hundreds of mortgage sales and lead-ership candidates to help them identify the best model-match with a mortgage lender in order to positivelyimpact growth, profitability and retention.

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RENE RODRIGUEZSales & Marketing, Brand StrategistPrimeSource Mortgage � New Mexicowww.SeeReneSpeak.comRene Rodriguez heads up sales, marketing and brandstrategy for PrimeSource Mortgage, a publicly-tradedmortgage bank. A captivating, high-energy speaker,Rene is in high demand for annual events, conventions,and keynotes speeches. He has been a featured speak-er at the Mastery Business Plan 2008 and 2011Conferences in Las Vegas, has emceed for all fourMortgage Revolution events, and is a frequent contrib-utor and author to industry publications, includingNational Mortgage Professional Magazine.

RICK ROQUESenior Vice President/Board MemberPrimeSource Mortgage � Washington, D.C.www.WeWalkYouHome.comRick Roque is the formerly led sales and business devel-opment at Calyx Software and has served as a consultantfor the industry’s top tech and lending firms. He is cur-rently executive vice president of growth and strategy atPrimeSource Mortgage, managing the day-to-day busi-ness operations at one of the nation’s few publicly-tradedmortgage lending companies.

SHASHANK SHEHKARChief Executive OfficerArcus Lending � San Jose, Calif.www.LendingExpertBlog.comShashank Shehkar is chief executive officer of Arcus Lending,author of the blog, LendingExpertBlog.com and two real estatebooks. A social media expert, Shashank helps incorporatesocial media ideas into his customer’s daily business plansand is always willing to help others in their advances for busi-ness and social media. Within three years of originating loans,Shashank is closing more than $30 million in personal pro-duction in 2011 by building one of the strongest personalbrands in the San Francisco Bay Area region.

MICHAEL SMALLEYRegional ManagerWaterstone Mortgage � Winter Park, Fla.www.Mike-Smalley.comMike Smalley has been a loan originator since 2002, andowned his own company from 2004-2008. Currently aregional branch manager from 2008 to current, and over thelast three years with his two partners, has grown his teamfrom one branch to four, and his team from five to 40. Mikeis also a frequent industry speaker, being the youngest per-son ever to speak at LoanToolbox Business Plan (in 2006 atage 27), presenting at Mortgage Revolution twice in 2010(Atlanta and Orlando), and Sales Mastery in 2011.

ADAM P. SMITHPresidentThe Colorado Real Estate Finance Group Inc.Greenwood Village, Colo. www.CoreFinanceGroup.comAdam P. Smith is president of The Colorado Real EstateFinance Group Inc., a commercial and residential realestate finance firm. During his career, Adam has helpedthousands of clients, both individuals and corporations, intheir goals regarding real estate finance, as well as bothpersonal and corporate finance, and has personally writ-ten billions of dollars in mortgage and finance deals.

JOHN GLEN STEVENSBranch ManagerBank of England d/b/a ENG Lending � Draper, Utahwww.ENGUtah.comJohn Glen Stevens served as president of Utah Association ofMortgage Brokers in 2010, the state affiliate of NAMB, theAssociation of Mortgage Professionals. Nationally, John servedNAMB as chairman of the Loan Originators Conference in LasVegas. John campaigned for a seat in the Utah State Houseand currently serves locally as County Planning Commissioner.

HOLDEN THOMASPresidentOak Mortgage Group Inc. � Dallas, Texaswww.OakMortgageGroup.comHolden Thomas started Oak Mortgage Group Inc. at the age of25 with no mortgage experience and built the firm from amortgage broker in 2006 into a mortgage banker as U.S.Department of Housing & Urban Development (HUD) DirectEndorsed Underwriters. Holden relies heavily on social mediastrategies to drive leads for Oak Mortgage Group.

ERIC TISHAWChief Operating OfficerHometown Lenders � Huntsville, Ala.www.HTLenders.comGrowing up around the mortgage business, Eric enjoys helpingmortgage professionals reach their goals and fullest potential.In an effort to uncover the major pitfalls of making a transitionto a different employer, Eric authored the Net Branch SurvivalKit to help mortgage professionals make a more informed deci-sion about their future partnership with a potential company.More than 10,000 copies have been downloaded to date.

GARRICK WERDMULLERBranch ManagerFirst Priority Financial � Alameda, Calif.www.Garrick.bizThrough technology, blogging and video logging GarrickWerdmuller has built an amazing community of fans. Garrickhas been a part of the “Funky Formal,” an event to help manylocal charities, including the Alameda Food Bank, AlamedaEducation Foundation and the Alameda Boys and Girls Clubamong others. He founded the Alameda Green Home Expo.

ERIK WINDPresidentEWDC � Melville, N.Y.www.ShortSaleSpeedway.comDuring his 10-plus years in the real estate and mortgage busi-ness, Erik Wind has worked with hundreds of appraisal andreal estate professionals to improve their business throughtechnology. Erik is the developer of ShortSaleSpeedway, usedby real estate professionals to effectively negotiate short salesand loan modifications and by mortgage professionals as a toolto market to real estate agents.

LOUIS ZITTINGFounder/PresidentLenderFeed � Salt Lake City, Utahwww.MonitorBase.comLouis Zitting founded LenderFeed, a consumer-focused, cred-it monitoring technology to maintain the retention for borrow-ers who have been turned down or whose loan had been can-celled. LenderFeed monitors the borrower’s credit profile, andbased upon specific parameters, will contact the loan officerwhen it is the appropriate time.

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John Antonelli President/Mortgage Specialist Vantage Point Financial Group Inc., Blue Bell, Pa.

Belinda Austin Processing Manager Ranch and Coast Mortgage Group, San Diego, Calif.

Alan Blood President Capital Financial Group Inc., Bountiful, Utah

Lanie Boudreaux Mortgage Originator St. Martin Bank & Trust, Lafayette, La.

Liz Bushman Branch Manager Academy Mortgage Corporation, Diamond Bar, Calif.

Brian Call President Rubicon Mortgage Advisors LLC, Minneapolis, Minn.

Peter M. Citera Director of Mortgage Education Real Estate Institute, Niles, Ill.

Gwen Creel Regional Sales Manager United Fidelity Funding, Kansas City, Mo.

Jay Crowell Vice President Cornerstone Home Lending, Seattle, Wash.

Richard Donine Vice President of Marketing Stearns Lending, Orange County, Calif.

Sherri Dyer Owner/President MDI Mortgage Group, Bar Harbor, Maine

Richard L. Erb II Licensed Loan Originator Weichert Financial, Alexandria, Va.

Ron Haddad Senior Mortgage Banker Key Mortgage Services d/b/a Baird & Warner Financial, Chicago

Adam Hall Community Reinvestment Analysis Fifth Third Bank, Louisville, Ky.

Josh Harmatz Chief Operation Officer Voyage Financial Group Inc., Sacramento, Calif.

Justin Henneke Senior Loan Officer America’s Choice Home Loans

Dan Holtz Vice President Sovereign Lending Group Inc., Irvine, Calif.

Vince Ingui President & CEO Louviers Mortgage Corporation, Wilmington, Del.

Jesus I. Jimenez Finance Director Security National Mortgage, Forest Park, Ill.

Steven Kaufman President Zeus Mortgage Ltd., Houston, Texas

Eric Kelly Managing Partner Assurance Financial Group, Birmingham, Ala.

Todd LaBorwit Vice President Topaz Mortgage, Rockville, Md.

Heather M. Lee Branch Manager PMC Mortgage, Yakima, Wash.

Crista Lowrie Branch Manager Vision Mortgage, a division of Continental Bank, Montgomeryville, Pa.

Benjamin Madick Founder & President Mortgage Quality Management and Research, Sherman Oaks, Calif.

Joseph Metzler Senior Mortgage Loan Officer Mortgages Unlimited Inc., St. Paul, Minn.

Darius Mirshahzadeh Senior Vice President Pacific Union Financialof Wholesale Lending

Jasen Neutzman Certified Mortgage Consultant Atlas Mortgage, Lynnwood, Wash.

Robert Palmer President, CEO & Majority Stockholder RP Funding, Maitland, Fla.

Sam Perez President Silvercreek Finance Corporation, Chicago, Ill.

Nathan S. Pierce President Advanced Funding Home Mortgage Loans, Salt Lake City, Utah

Joni Pilgrim Vice President of Sales & Marketing Nationwide Appraisal & Settlement Network, Oldsmar, Fla.

Reza Rahimzadeh Chief Executive Officer Loan America, Calabasas, Calif.

David B. Ricketts Area Manager Bank of England, Denver, Colo.

Kyra Sommerville Partner/Branch Manager Inlanta Mortgage, Johnston, IowaMoore

Darin Sullivan Vice President of Mortgage Operations BOFI Federal Bank (Bank of Internet), San Diego, Calif.

Brian Swanson Senior Vice President BOFI Federal Bank (Bank of Internet), San Diego, Calif.& Chief Lending Officer-

Residential Lending

Joanna Theismann Mortgage Loan Officer Associated Bank, Belleville, Ill.

Paul Ueckert President Voyage Financial Group Inc., Sacramento, Calif.

Paul Volpe Vice President NOVA Home Loans, Tucson, Ariz.

The Next 40 Mortgage Professionals to Watch …

Due to the hundreds of submissions we received for our “40 Under 40” list, there are those who are making serious waves in the industry who could not be overlooked. They, like those on the “40 Under 40” list are the

leaders of this industry for years to come, so keep an eye out as well for the following innovators and originators as they continue to shape the industry:

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heard on the street continued from page 7

Zillow Mortgage Marketplace on AOLReal Estate and DailyFinance is expected tolaunch in 2012.

“With historically low mortgage rates,it’s more important than ever for homeshoppers and homeowners to under-stand their mortgage options and to shoparound for the best rates,” said SpencerRascoff, Zillow chief executive officer.“We’re excited to bring our innovativeand award-winning loan shopping expe-rience to AOL sites. In addition to the con-sumer benefits, this partnership also willextend the reach of Zillow MortgageMarketplace’s network of lenders, provid-ing them with a new, cost-effective cus-tomer acquisition channel to connectwith home shoppers.”

CampusMBA to ProduceCourse for CharteredRealty InvestorDesignations

The MortgageBankers Associa-tion (MBA) hasa n n o u n c e d

that it has executed an agreement with theChartered Realty Investor Society (CRIS) toprovide a course through CampusMBA tohelp those seeking a Chartered RealtyInvestor (CRI) designation to prepare foran assessment examination. Under theagreement, MBA will develop and offerthrough CampusMBA an instructor-guid-ed, online, self-study prep course to com-plement the CRI Level 1 study guide, cur-rently being offered by CampusMBA. Thiscomprehensive commercial real estatecoursework will educate industry profes-sionals to analyze property data andappraisal techniques, to understandfinancing fundamentals and fundingsources including commercial mortgage-backed securities (CMBS) and to compre-hend loan servicing and the underpin-nings of real estate as an asset class.

“We are proud to join with CRIS to offertop-notch training for commercial realestate finance professionals,” said David H.Stevens, president and chief executive offi-cer of the MBA. “CRIS is known for its ethics-based approach to professional develop-ment and anyone carrying a CRI designa-tion is recognized for his or her commit-ment to professional excellence and ethicalconduct.”

The mission of CRIS is to give the publicconfidence in the professionals and fiduci-aries within the commercial real estateindustry perfectly complements MBA’sefforts to foster professional developmentand business ethics, which is critical to theindustry’s success and reputation. It wasfounded in 1999 to help ensure the safetyof the public and other stakeholders bysupervising its real estate certification des-ignations, the CRI Charter and CRI Associate.Its mission is to recognize ethics-basedcompetency in the global real estate indus-try for the benefit of the public through theaward of a limited, revocable right to holdits designations.

RealtyData Acquired by ULS CEO and Former NREIS CEO

Charles Sanders, thefounder of UrbanLending Solutions(ULS), has teamed up

with settlement services industry veteranMichael Forgas, former chief executive offi-cer of National Real Estate InformationServices (NREIS), to acquire RealtyData, aprovider of unique title search productivitysolutions. Sanders will serve as presidentand will hold a majority interest in thecompany and Forgas will serve as CEO.

“The technology that RealtyData hasdeveloped is very exciting and will changethe way the title industry operates,”Sanders said. “That made the company agood investment at this time. I’ve knownMike for many years and look forward toworking with him.”

RealtyData technology allows title com-panies to automate title searches in 900counties across the nation. In addition, aquality control (QC) engine can performautomated QC on the resulting title com-mitments, reducing title agent expensessignificantly.

“The title industry has been slow to adaptto technological change, but economic pres-sure is forcing title agents to seek out toolsthat will allow them to provide their servic-es more efficiently,” Forgas said. “Our tech-nology allows title agents to not only bemore efficient but also improve quality andat favorable prices. We must not forget aboutquality, especially in this time of significant-ly increased regulatory oversight.”

Sanders said he and Forgas will first focuson penetrating deeper into RealtyData’sexisting client base, moving good customersbeyond simple searches and into the com-pany’s quality control solution.

Clayton Holdings toAcquire REO SpecialistGreen River Capital

C l a y t o nHoldings

LLC has announced that it has agreed toacquire Green River Capital LC, a providerof real estate-owned (REO), short sale andbroker price opinion (BPO) services basedin West Valley, Utah. The transaction isexpected to close within 60 days and nofinancial details were announced. GreenRiver will now become a wholly-ownedsubsidiary of Clayton and continue tooperate as a standalone business, under itscurrent brand, in its current location andwill be led by its current managementteam of Christopher West, Green River’sfounder and chief executive officer, andPaul Bossidy, Clayton’s chief executive offi-cer, will become co-CEOs of Green River,and Joseph D’Urso will remain the compa-ny’s president.

“Green River is an excellent strategic fitfor Clayton and our clients,” said Bossidy. “Itwill expand our loss mitigation offerings ata time when short sales and REO disposi-tions are both expected to remain strong.

By David Rasmussen

Lending managers today need to be everywhere at once.They are accountable for helping to ramp up lending vol-ume while ensuring that stringent risk oversight andreview controls are in place. This dichotomy can be seem-ingly daunting for organizations that have yet to embracethe power of the automated tools discussed in this articleseries on valuation management platforms.

Management may hesitate to integrate the technology for fear it willdistance them from the details in the valuation process. However, a best-in-class valuation management platform should provide users with totaltransparency throughout the entire valuation process. Each and everyuser, product order, product return, and all of the rules/data in betweenshould be recorded and electronically documented. Recording this levelof granularity allows for full retrieval, access and reporting at a latertime, and in many cases, provides managers with tools and insights notavailable in a manual process.

To fully and effectively monitor the entire range of transactions in avaluation management platform, the reporting function needs to becomprehensive, yet flexible. Standard or “canned” reports, as well as adhoc reporting functions, allow managers to view, monitor, track andeven score the procedures, policies and partners that make up their val-uation strategies. The following sections explore the necessary systemcomponents of each reporting type that should be available for use.

Standard reportingA strong management platform should include a comprehensive selec-tion of standard reports that are available to run quickly, are designed toprovide a clear view of the most frequently accessed data points, and tomeet compliance mandates. These are considered common reports thatusers will utilize frequently according to their access and needs. It isessential for standard reporting to be integrated into the everyday busi-ness process and procedures. It is up to the management at an organiza-tion to ensure the system provides an intuitive fit with its workflow.

These standard reports should also allow users to monitor the entirevaluation lifecycle (as their access level permits), making each employeeaccountable for their successful role within the organization’s workflow.Advanced platforms allow reports to run in real-time or to be scheduledto run and electronically delivered at regular intervals. This consistentdata reporting offers fresh perspectives and often provides direction inthe valuation management chain.

Ad hoc reportingWhile standard reports fill certain business demands, they will never be ablecover every data request that may arise. The management in most organi-zations will agree that their company has unique needs, and waiting for

SPONSORED EDITORIAL


Effective Reporting inAutomated Valuation

Management Platforms

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Green River’s BPO offerings will help ourclients, along with our Quantum specialservicing unit, to make better loss mitiga-tion decisions and will complementClayton’s diligence and whole loan acquisi-tion services.”

Green River currently has a number oflarge investor, financial institution and gov-ernment-sponsored enterprise (GSE) clientswith a staff of approximately 200. GreenRiver provides its BPO and REO services withthe support of a nationwide network ofmore than 5,000 real estate brokers.

“During the past year, our REO and shortsale assignments have grown by more than87 percent,” said West. “By joining with anindustry leader such as Clayton, we expectto continue this growth and create a morescalable company while increasing thestrength of the Green River brand.”

Mortgage Professionals to Watch� Jonathan Corr has been named chief

operating officer of Ellie Mae. In addi-tion, Ellie Mae has also announced threenew hires: Karen Paratore as managerof the firm’s data center’s day-to-dayoperations; Gene Bowen as a designerand builder; and Marina Levinson tooversee Ellie Mae’s data center.

� Real Estate Mortgage Network Inc.(REMN) has added Justin Tucci as a mort-gage loan originator to its Myrtle Beach,S.C. office, and Donna Quigley andTammy Burge as mortgage loan origina-tors in REMN’s Atlanta-area branch.

� The Federal Housing Finance Agency(FHFA) has announced the additions ofRichard B. Hornsby as the FHFA’s chiefoperating officer and Jon Greenlee asdeputy director of the Division ofEnterprise Regulation.

� Mike Forgas has been promoted to theposition of president of Urban LendingSolutions (ULS).

� Matt Morris has been elected chief execu-tive officer of the board of directors ofStewart Information Services Corporation.

� NewDay Financial has announced thepromotion of Julie McMillin Lee to therole of president of NewDay Reverse.

� U.S. Mortgage Corporation hasnamed Kelly Sabino as director of itsreverse mortgage division.

� MortgageFlex has announced the addi-tion of Phil Scialabba to its team.

� Lender Processing Services Inc. (LPS)has named Nancy Murphy as its newvice president of investor relations.

� Carrington Mortgage Services hasannounced the hiring of three newarea sales managers: Bryson Bedefor the Pacific Northwest area,Tamara Joi Henry for the SouthernCalifornia region and Jodi Nelson forthe Northern California region.

� ServiceLink has announced theappointment of Chris Azur as companypresident, David Holt as senior vicepresident of default strategy and execu-tion, Greg Whitworth as executive vicepresident of servicing solutions, andDonald Blanchard as general counsel.

� Steve Butler has joined QuestSoft asvice president of business develop-ment.

� WFG National Title has named Ravi

Bapodra as vice president and man-aging director of its TitleNet division.

� First Guaranty Mortgage Corporation hasannounced the addition of MarkMayhook as managing director of capitalmarkets and Jeffrey Gibson to the posi-tion of assistant vice president, corre-spondent division manager.

� Brad Nease has joined CarringtonMortgage Services LLC as senior vicepresident of capital markets.

� Shore Financial Services Inc. hasnamed Michael Kaysen as its newchief operating officer.

� Supreme Lending has named CraigGoetz as western region productionmanager and Glynnis Barber as itsnew underwriting manager.

� Paige Warren, president of Prudential

Affordable Mortgage Company, has beennamed head of Prudential HuntoonPaige, the FHA lending business ofPrudential Mortgage Capital Company.Prudential Mortgage Capital has alsoannounced the addition of MichaelMcRoberts as head of the company’s con-ventional Fannie Mae and Freddie Maclending business.

� Ashley Anderson has been namedassistant vice president, operations man-ager of WFG National Title InsuranceCompany’s Default Services Group.

� Scott Anderson has joined loanDepot.comLLC as executive vice president, head ofcorporate strategy.

� Clear Capital has named Gabriel Nacht aschief financial officer and Brian Wick asvice president of marketing.

Your turnNational Mortgage Professional Magazineinvites its readers to submit any informa-tion, events, passages, promotions, person-al or professional occurrences that seemappropriate and/or other pertinent data tothe attention of:

Heard on theStreet/Mortgage Professionals

to Watch columnPhone #: (516) 409-5555

E-mail:[email protected]

Note: Submissions sent via e-mail arepreferred. The deadline for submissionsis the 1st of the month prior to the tar-get issue.

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Iwant to touch on a few things thatwe should reflect on during this hol-iday season. First, make sure that

during this festive season, you remem-ber why you do things. Make sure thatyou thank all of your employees andtheir families for allowing you to be inthe greatest job in the whole world. Themortgage business has changed somany times over my 35 years in thebusiness, that I am continually remind-ed that those of you that are left outthere as mortgage brokers and mort-gage professionals are the best in thebusiness. You continue to produce andtalk with customers each and every dayusing your expertise and your wisdomto make dreams come true.

Second, a big thank you goes out toall who helped produce the 2011NAMB/WEST Loan OriginatorConference in Las Vegas. This turnedout to be one of the best gatherings ofspeakers and exhibitors that I have everwitnessed. The camaraderie and shar-

ing of ideas was top notch. Those whomissed out can only hope that next yearwill be a repeat of this year. JohnStevens did an outstanding job as theCommittee Chair of the event, and he isalready talking about the changes tomake next year even better and larger.

Third, as those of you who were atthe Delegate Council Meeting andluncheon, Think Big Work Small’s andFrank Garay and Brian Stevens haveagreed to work with NAMB and producea really great NAMB BLOG and sharethis information with our state affili-ates. The states, in turn, can share thisinformation with their members. If youthink about this, it is an exciting timeand we are all only going to get betterfrom this association with them. Theend result should be a larger member-ship for the states and a larger mem-bership for NAMB.

One of the items that really mystifiesme has to do with membership. Thedoor is now open for everyone in every

state to become a member of NAMB.The Delegate Council passed the newassociation by-laws that allow for thejoining to either NAMB alone, theNAMB state affiliate alone or the optionto join both. Now we would like to seeeveryone join both organizations, butwe realize that now you have a choice.You can log on to NAMB.org, go to the“Membership” page and click on the“Join NAMB” tab or click on your stateaffiliate and join both associations. Theother news is that the two membershipsare as follows:

� Platinum Membership is $120 peryear. This is an exclusive member-ship that includes a discount to allNAMB events, free or reduced costson Webinars that will be produced atleast monthly, and the ability to haveearly sign up for these Webinars. Italso includes a quarterly conferencecall with me to inform you of itemsthat the NAMB Government Affairsteam is working on and to answerquestions. This membership categoryalso includes the ability to vote in theelection of NAMB board membersand on by-law changes at the AnnualMeeting.

� Silver Membership is $50 per yearand is for the mortgage professionalwho wants to be a member, but doesnot want all of the extras that comewith the Platinum Membership.These members will have to pay reg-ular price for the NAMB functions,NAMB Webinars and will have novote in the affairs of the association.

The ironic part of membership is thatwe (NAMB) represent all mortgage loanoriginators, either licensed, registeredor exempt. We do not discriminate.That, according to the NMLS figures, isover 130,000 of you. If we could just get75 percent of you to join, that wouldmean we would have 97,000-plus mem-bers. If this would happen, we could goto Congress with a large majoritybehind us and that would mean some-thing to the legislators on Capitol Hill.

This is another reason why we haveteamed up with Frank and Brian ofThink Big Work Small. They can help usget the information out to all of thestates and to all of the LOs in America.They can also help pass informationdown to everyone with the NAMB Blogwe are developing. So stay tuned tohear more about this.

And lastly, if I may, being a mortgageprofessional myself and representingyou as president is a great honor. I amexcited to see some of the things thatwe have been able to do in the first 30days. That is why I am asking each andevery one of you to make a commit-ment. Join NAMB and become a part ofthis great organization. We are here torepresent you and we are going to con-tinue to fight for you, the mortgage pro-fessional. It is my career and it is yourcareer. That means that you take a vest-ed interest in your work. If you want tojoin as a Platinum Member, its $120 peryear ($10 per month, and we know thatis only just one breakfast or lunch permonth). It is really a small amount thatyou pay for what you get. Or you canjoin as a Silver member for just $50 forthe year (only $4.17 per month or thecost of a latte at Starbucks). So if youneed answers as to why you should be amember, ask yourself this basic ques-tion: WHY NOT?

My e-mail is [email protected],and I am open to answer any of yourquestions. If you would like to beinvolved in one of our committees, justlet me know as well. I will arrange foryou to get in contact with a committeechair in your area of interest. We aregoing to make this association a big andpowerful player, and we will continueto represent you. It is time to join andbe part of the solution. If you are amember, ask your friends why they arewaiting.

Sincerely,

Donald J. Frommeyer, CRMS,PresidentNAMB, The Association of MortgageProfessionals

The President’s Corner: December 2011Season’s Greetings to All!

NAMB President Donald J. Frommeyer welcomes attendees to the2011 NAMB/WEST Loan Originators Conference

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NAMB PastPresident Jim

Nabors listening tobids at the

NAMBPAC Auction

Terry W. Clemans, executivedirector of the NationalCredit Reporting Association(NCRA), delivers his session,“Rapid Rescore ComplianceInfractions”

NAMB DirectorFred Arnoldand 2011NAMB/WESTConferenceCommitteeChair JohnStevens pausefor a photo

Sue Woodard ofMortgage

Success Source,presenter of the

“SuccessfulOriginations in

Today’sChallenging and

DynamicMarket” session

Brian Stevens ofThink Big WorkSmall discussesvideo marketingwith attendees

Mark Madsen ofRehabLoanNetwork,Raymond Bartreauof Best RateReferrals and MarkTeteris of MortgageSuccess Source pausefor a photo

Jim McMahan of LoanToolbox delivers hispresentation, “Unlocking Your Success

Disciplines That Make a Lasting Difference”

David Ellis of 1st RateMortgage (secondfrom left) stops by theRMS-ReverseMortgage Solutionsbooth for a photowith Michael Kent(left), Garret Kolb(second from right)and Ralph Rosynek Jr.(far right)

Beverly Frase of USA Cares(center) chats with MaryAnn Pino (left) of Home &Garden MortgageCorporation and NAMBDirector Kay Cleland(right) of KC Mortgage LLC

Kristina Bennett, DannyMarogy and Catherine

Parsell from UnitedWholesale Mortgage on the

exhibit hall floor of the MGMGrand in Las Vegas

Scenes From the 2011 NAMB/WEST Loan Originators ConferenceDecember 3-5 at the MGM Grand in Las Vegas

photos continued on page 38

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NCRA�s 19th Annual

Conference Closesto Great Reviews

By Terry W. Clemans

Similar to a major holiday, after lots of planning and work,our National Credit Reporting Association Inc. (NCRA)annual conference seems to be over before we know itand 19th Annual Conference is now one for the historybooks. This year garnered 108 participants, representing

more than half of the nation’s mortgage credit reporting industry.The conference opening featured the annual changing of the

association’s officers. Thank you to 2011 President Tom Conwell of Credit Technologiesin Michigan for a great year of leadership! Incoming President Don Unger of AdvantageCredit in Colorado and Vice President Daphne Large of Datafacts in Tennessee will pro-vide a smooth transition.

The highlight of the agenda was the Keynote Address by Craig Zablocki, sponsoredby TransUnion. Craig received a standing ovation for a motivational address that wasboth humorous and thought-provoking. NCRA members provided multiple referencesto his presentation throughout the remainder of the conference as he left a positiveimpact that lasted for days. His “two people in one shirt improvisation” with a surprisedmember had everyone laughing to the point of tears.

Zablocki’s message fit well with NCRA’s commitment for renewed volunteerism to liftthe association into its 20th anniversary celebration in 2012. The association’s found-ing and charter members provided a commitment of both time and financial contri-butions to help establish NCRA in 1992. As that milestone is approached, NCRA is re-committing to the industry by promoting greater committee projects and emphasis toenergize the membership after a couple of trying years during the aftermath of themortgage meltdown.

A close second in popularity (based on the speaker scores provided at the end ofthe session) was Rob Strand, an economist from the American Bankers Association(ABA) who joined NCRA for the second straight year–back by popular demand. Hisentertaining and no-nonsense approach to the economy in general and specificallyits impact on the housing industry, has been rated the highest of any economist toaddress NCRA over the past decade! The participants at NCRA’s conference thoughta lot of all of the speakers as they all were well-received and obtained high marksfor their presentations.

Barrett Burns, president and chief executive officer of VantageScore Solutions pro-vided an enlightening look into the VantageScore program and where they are headedafter their first five years in the credit scoring world and specifically clearing the FICOlegal challenges. While FICO has dominated the mortgage industry, Vantage has madehuge inroads into all other aspects of credit scoring and is sure to turn up in the mort-gage process in the future.

From the federal government, NCRA featured three speakers this year. The first,from the newly formed Consumer Financial Protection Bureau (CFPB), AssistantDirector Corey Stone addressed the group on the CFPB’s progress and plans. From theFederal Trade Commission (FTC), Tony Rodriguez spoke to the group twice, once as anindividual speaker and then again as part of a panel discussion. Closing out the feder-al government speakers was HUD’s Louisiana director speaking to the members aboutthe requirements for housing authority background checks in a changing marketplace.

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tions of the Real Estate SettlementProcedures Act (RESPA), the act thathas RESPA moving from the U.S.Department of Housing & UrbanDevelopment (HUD) to the CFPB.

NCRA also introduced two new Websites and three new strategic alliancepartners at the conference. A completeoverhaul of the NCRA Web site,NCRAInc.org, is almost complete and itincludes an end-user certification test(as reported in the November 2011 edi-tion of National Mortgage ProfessionalMagazine on page 32) to assist users of

And we cannot forget the attor-neys: NCRA’s Legal Counsel LarryHenry spoke to the group about thevarious state laws that impact tenantscreening and credit reporting. NCRAis pleased to announce a new pro-gram to assist member in compliance,CRA Helpdesk, authored by Mr. Henry.A frequent NCRA speaker on legalissues, Andrew Smith of Morrison andForrester, started the discussions onthe Dodd-Frank Act, and Paul Scheiberof Stevens and Lee closed that topicwith a special focus on the implica-

consumer reports in understanding theobligations they need to follow. A newNCRA Web site, SafeHousing.org is beingcompleted to promote the benefits pro-vided by tenant screening. Both sitesare in the final stages of production andwill be running by Jan. 1, 2012.

The feature event for networkingand entertainment was a MississippiRiver cruise aboard the paddle wheelsteam-powered Natchez. Southern cui-sine, Dixieland jazz and cocktails forall were provided by event sponsorMeridian Link as we left the historic

French Quarter for a tour of theCrescent City by water. We met ourgoal of two days of educational stimu-lation mixed with networking and a lit-tle Cajun flavor and are now planningfor NCRA’s 20th Anniversary Conferencenext November … stay tuned fordetails.

Terry W. Clemans is executive director ofthe National Credit ReportingAssociation Inc. (NCRA). He may bereached at (630) 539-1525 or e-mail [email protected].

Scenes from theNCRA�s 19th Annual Conference

November 9-11 at the Crowne Plaza • Astor, New Orleans2011 NCRAPresident ThomasConwell; CoreyStone, AssistantDirector of theCFPB; and DonUnger, 2012 NCRAPresident

Barrett Burns, CEO VantageScore Solutions, addresses NCRA members

Panelists ThomasConwell; Anthony

Rodriguez, staffattorney for the FTC;and Diane Terry, vice

president consumerrelations fraud

division forTransUnion, field

questions from theaudience

Thomas Conwell presents Nancy Fedich with theNCRA Board Member of the Year Award

NCRA members enjoyingthe Marketplace andWelcome Reception

NCRA Past President ThomasConwell, 2012 President DonUnger and Executive DirectorTerry Clemans celebrate asuccessful NCRA 19th AnnualConference

Daphne Large, NCRA 2012 vicepresident, and Director Mike

Brown pause for a photo

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If you are a good loan officer, you arealready getting ready for 2012. Manyare asking, what will next year bring to

the industry? My advice will be the same asit is in most years … be prepared. Ofcourse, you might ask me, “Be preparedfor what?” The answer is—be prepared foreverything and anything.

What could happen in the next year?On the negative side …� Rates could rise and refis could stop

before real estate recovers (witnessearly 2011).

� The budget negotiations and/or Europecould blow up and drag us down into adeeper recession. Great for refis, butnot devastating for real estate.

� We could lose a major program such asconforming loans and make it thatmuch harder to Americans to getfinancing. Now that you are really scared, let’s

take a look at what could happen on thepositive side …� Rates stay low and refis continue as the

economy and real estate continues torecover gradually.

� Congress extends higher loan limits, giv-ing us a boost in higher-priced markets.

� As the economy recovers, job creationpicks up. This causes household formu-lation to increase and create even moredemand.

� A stronger economy means that realestate prices firm up and therefore,mortgage loans become a betterinvestment. This enables lenders toloosen up on approval standards. Which way will all this go? Predictions

are futile; however, it would not be unrea-sonable for the markets to land “inbetween” these options. Yet, all of thesescenarios are feasible and that is why youneed to be ready for just about everything.How do you do that? You must plan. If youdon’t have a business plan for 2012, nowis the time to put one in place. What willyou do if the refis disappear? How aboutif the market gets stronger? Obviously thisplan must be flexible.

Think I am being coy about what rateswill do for next year? Take a look at thisquote from Mortgage Daily…

“Fannie Mae has mortgage rates falling inthe first half of next year, while Freddie Macforecasts an increase. In its October 2011Economic and Housing Market Outlook,

Freddie predicted that the 30 year will aver-age four percent in the fourth quarter thenrise 20 BPS each quarter through the sec-ond-quarter 2013. But Fannie’s HousingForecast: October 2011 has the 30-yearfalling from four percent this quarter to 3.9percent in both the first and second quartersof 2012.”

If these agencies, which employ highlypaid economists, cannot agree, you willexcuse me for not putting my own twocents into the equation. Don’t get lost intrying to predict what will happen. Again,be prepared for anything to happen.

We have not set a date as of the writingof this column, but if you e-mail me [email protected], I will letyou know when my Business Planning2012 Webinar is scheduled for Decemberand early January (we hold it two times).You will be able to register for free if youmention National Mortgage ProfessionalMagazine when you e-mail us.

Meanwhile, there are still a few weeksleft in the year. You could just plan fornext year and take the rest of the year off.In reality, the pipeline you bring in nowcould help you make your goals for nextyear. So we are not suggesting that youabandon production for the planningprocess. Not knowing how long these lowrates will last should be giving you andyour clients a sense of urgency.

As a leader, you need to move them offthe fence. No, you cannot predict thefuture. Yet, you do know that there is agreater risk of rates moving up than thereis a chance that they will move down sig-nificantly. Rates hit historic lows inOctober and again in early November.Every month that a client waits to refi-nance, it costs them money if they are in aprofit situation. You need to calculatetheir cost of waiting so they realize theconsequences of inaction.

Dave Hershman is a leading author for themortgage industry with eight books andseveral hundred articles to his credit. He isalso a top industry speaker. If you wouldlike to stay ahead of what is happening inthe markets, visit www.ratelink.origination-pro.com for a free trial. Dave’sOriginationPro Marketing System can befound at OriginationPro.com and he maybe reached by e-mail at [email protected].

Be Prepared

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By David Lykken & Jon Traver

Adaptation … oneof the lesser spo-ken-about traits

of the top businessexecutive. In the ever-changing world ofmortgage production,the ability to adaptcould mean the differ-ence between successand having to find anew line of work.

Congratulations! Themere fact you are takingfive minutes out of yourday to read an article onthe subject, by a writeryou may never haveheard of, shows you canadapt. After many yearsof negativity in themortgage business, don’t you think it’stime we look forward?

The goal of this article is to beginthe process of looking at the job ofincreasing production differentlythan the way it used to be. With allthe changes our industry has gonethrough over the last few years, oldmethods are simply not as effectiveas they used to be. While we will onlybe able to skim over several topics,the basic ideas and principles cov-ered in this article have proven to bevery effective in helping my clientsrefocus their energy into new areasand begin to build production forthe long haul. Whether you are a VPlevel executive, branch manager or aloan officer, hopefully you will pickup a few new ideas and begin tomove forward.

If you look back over your time inthis business and compare the manyfacets of your job and how you exe-cuted them, you will see how muchyou have already adapted. If you have

been around longenough, think back tobefore automated under-writing. Originators hadto put a very thick loanfile together and send itto underwriting. Anunderwriter had to exam-ine the file, page by page(remember when we actu-ally used paper?), andthen make their own deci-sion on whether or not toapprove the loan.Remember when therewere just a couple ofwell-worded disclosuresinstead of the multitudeof confusing pages wemust attempt to explainto buyers today? The

amount of time we all spend on non-producing activities has grown to anall-time high, with no end in sight. Ifyou are forced to spend more thanhalf of your time on complianceissues, you better make great use ofthe little time you have left to buildyour business.

Production, or basic loan genera-tion, has been the job of the loanoriginator for a very long time.Unless you work with a company thatbuys leads and spreads them outthroughout their call center, generat-ing loans has most often been left tothe loan officer. Some originatorsspent day after day, sitting in amodel home, hoping to grab a cus-tomer when buying a new home.During the many hours of boredom,we might begin to build a relation-ship with that salesperson. But whohas the time to do that anymore?With the high turnover in new homesales, and the lower upside on per-sonal income on a per loan basis, this

method of generatingloans is simply too inef-ficient. And don’t get mestarted on the “pre-ferred lender” situation;we can address that in alater article!

Generating businessfrom Realtors hasalways been tricky.Many Realtors simplyhaven’t wanted toinvolve themselves inthe loan side of thetransaction. Others sim-ply do not fully under-stand the importance ofthe loan, and therefore,have little desire towork with a talentedloan officer. But whenwe tried to build those relationships,what did we do? Drop off flyers ormuffin baskets, take a Realtor tolunch? These were all very commonmethods of reaching out to the realestate agent community. And halfthe time, we actually succeeded inmeeting and getting to know aRealtor, we would find out they wereonly part-time and closed five trans-actions a year. Again, not an efficientuse of our time, especially in today’sclimate.

So given the diminishing returnsin most of the typical productionstrategies, we now must adapt howwe attempt to grow our business. Thefirst step is to take a look at our per-sonal business plan. Don’t have one?Then get one, fast! Okay, maybe weshould start there. Business plans arean essential part of the success of anybusiness. A loan originator is a one-man business and should be treatedas such. When all is said and done,your success or failure will depend

on YOU! If you aredepending upon yourcompany, processor, ora lead generationsource, to keep youafloat, you are doomedto fail!

Begin by setting somegoals for yourself in areasother than volume ornumber of loans. This isthe biggest mistake I seeloan officers make. Theyoften center everythingon how many loans canbe closed. A quality busi-ness plan might finishwith a goal of “X” num-ber of loans, but it does-n’t start there. You needto start by building a

plan on how to increase your referralbase. Developing a strategy to dou-ble or triple the number of realestate professionals that considerYOU their primary source for allthings loan related. A sound anddetailed plan to build these relation-ships will generate the desired vol-ume of loans, provided you are com-mitted to following that plan everyday. Simply waking up and takingwhat comes your way will not keepyou in this business very muchlonger. Adapt or die!

When working with a classroomof loan officers, I give them a littletest at this point. I ask everyone tolist the two main things they would“sell” if given three undivided min-utes from a potential referralsource. The short version of this testis the following: If either of youranswers include the following: Lowrates, great turn times or closingloans on time, or the age-old “I givegreat service and will always answer

Need More Production? Adapt or Die!

“Simply waking up and taking what

comes your way will not keep you

in this business verymuch longer.

Adapt or die!”—Jon Traver

“If you are forced tospend more than half ofyour time on complianceissues, you better make

great use of the littletime you have left tobuild your business.”

—David Lykken

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my phone, etc.,” then you fail!First off, that is the same old

message that almost every loan offi-cer delivers every day. How do thosemessages set you apart from yourcompetition? Everyone says thesame things and most Realtors sim-ply don’t believe you. Even if youare the very best, how can you proveyou really are different from therest?

Secondly, the biggest risk youface with those messages, even ifthey do work from time to time, isthat you cannot control the level ofsuccess. You might have the bestrates today, but what about tomor-row? Turn times might be greattoday, but if your rates are reallylow and your company’s volumespikes, what happens to turn times?And what happens when you finallylet yourself enjoy life a little and goto a movie? You don’t answer yourphone and they move on to some-one else. If you are currently outthere selling those value proposi-tions, you will eventually fail on oneor more, most likely through nofault of your own. Sell somethingyou can keep in your control. Adaptor die!

Recruiting is a more importantpart of the mortgage business thanever before. Companies need suc-cessful branches, branch managersneed quality loan officers and origi-nators need referral sources. I oftenask the question, “What is yourvalue proposition?” I am consistent-ly amazed at the blank stares Ireceive when I ask that question. It’snot that nobody has a value propo-sition, it’s usually that they neverbothered to think about things inthose terms. But why would abranch join your company over themany others out there? Why would aloan officer join your branch overthe hundreds of others? And finally,why would a Realtor send businessyour way over the thousands of oth-ers out there? Your value proposi-tion is what sets you apart fromalmost everyone else. Great ratesand good turn times are not valueprops that set you apart, a lot ofcompanies can offer those. Youmust develop your own personalvalue proposition and then work todeliver on that every day. There arecompetitors out there right nowworking overtime to take away yourproduction. Adapt or die!

Production is the lifeline of themortgage business. The job ofincreasing production falls to every-one within an organization, but itall ends up with the loan officer.Companies must, and many are,providing new and successful meth-ods to help their employees growtheir personal production. Choosingwhich company to work for canmake or break your ability to suc-ceed. Many branch managers areworking hard every day to help theirloan officers succeed, and in turn,

they earn their override or margin.Those who don’t will lose those orig-inators (and their production) to anew branch manager or a companythat caters to loan officers, allowingthem to run their own one-manbranch. And finally, those referralsources, the gold bars of the mort-gage world, will find a new loan offi-cer who can show a value proposi-tions that help increase the sales ofthe real estate agent.

So, build a plan and work to exe-cute that plan each and every day.Don’t be afraid to ask your branchmanager or company for help. Theyshould earn your business just likeyou must earn the loans you gener-ate each month. If they cannot orwill not help you, maybe you areworking in the wrong place. Realtorsfire us every day when we don’tdeliver the best, so can you. Believein yourself, work hard, and ADAPTOR DIE!

David Lykken is president of mortgagestrategies and managing partner withMortgage Banking Solutions. He hasmore than 35 years of industry experi-ence and has garnered a national rep-utation, and has become a frequentguest on FOX Business News with NeilCavuto, Stuart Varney, Liz Clamanand Dave Asman with additionalguest appearances on the CBS EveningNews, Bloomberg TV and radio. Hemay be reached by phone at (512)977-9900, ext. 10, or [email protected] or [email protected]. JonTraver is production consultant—branching, recruiting and LO trainingfor Mortgage Banking Solutions. Jonhas spent 12 years forging referralrelationships with builders and real-tors for his own mortgage company.He has extensive experience workingwith branch companies to grow theirbusinesses through branch and LOacquisition, as well as building long-term business development plans. Jontrains executives, branch managers,and loan officers how to redefine whothey are and what they do. He thenhelps them build a game plan for tak-ing that new knowledge to the streets,including the execution. He may bereached by phone at (512) 977-9900,ext. 112, (972) 467-3990 or [email protected].

To listen to author David Lykken’s onlineradio show, “Lykken on Lending,” log onto www.lykkenonlending.com.

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DECEMBER 2011

FHFA Sets GSE Loan Limits for 2012

The FederalHousing Fi-nance Agency(FHFA ) hasa n n o u n c e dthat, underterms set forth

in the Housing and Economic RecoveryAct of 2008 (HERA), the maximum con-forming loan limits for mortgagesacquired by the government-sponsoredenterprises (GSEs), Fannie Mae andFreddie Mac in 2012 will remain atexisting levels except in FairfieldCounty, Conn., where it will increase.The maximum conforming loan limitsfor one-unit properties, which generallyhave applied to loans originated sinceOct. 1, 2011, are $417,000 in most loca-tions, but are as high as $625,500 in cer-tain high-cost areas in the contiguousUnited States.

For loans originated prior to October2011, the maximum loan limit was ashigh as $729,750 in the contiguous U.S.However, that higher “ceiling” was per-mitted under legislation that no longerapplies to newly-originated loans. The2012 loan limits are set under the perma-nent formula established under HERA.

Under the HERA formula, the 2012maximum loan limit for one-unit prop-erties in Fairfield County, Conn. willincrease by $26,450 from $575,000 to$601,450. The increase results from arise in the local median home value,which is a key part of the HERA formulafor determining local loan limits. Whileother counties also saw increases inhome prices, Fairfield County, Conn.was the only one for which the increaseultimately produced higher loan limitsafter other HERA terms (e.g., the statu-tory ceiling and floor on loan limits)were taken into account.

In determining 2012 loan limitsunder the terms of HERA, the FHFA didnot change the baseline maximum con-forming loan limit for the United States.The baseline limit, $417,000 for one-unit properties in the contiguous U.S.,was left unchanged based on declinesin FHFA’s monthly and quarterly houseprice indexes. HERA requires that thebaseline limit be adjusted each year toreflect changes in the national averagehome price, but prohibits declines inthe limit. If average home pricesdecline, then the baseline loan limit isto remain the same.

In setting HERA limits for 2009, 2010,and 2011, FHFA found that the national

average home price declined over pre-ceding years. As a result, the nationalloan limit was left unchanged. Thisyear, the monthly and quarterly houseprice index (HPI) series produced byFHFA show further national pricedeclines and thus the baseline loanlimit is again unchanged.

While the FHFA HPI has been used thisyear and in preceding years for assessingthe national average price change, pur-suant to terms set forth under HERA,FHFA has evaluated a number of alterna-tives. FHFA plans to publish a FederalRegister notice in the coming monthsthat will proffer a specific methodologyfor measuring price changes for loanlimit adjustment in the future. Thenotice, which will detail the methodolo-gy and also describe an alternativeapproach, will invite public comment.

SIGTARP and Google Take Down Ring of 85 Fraudulent Loan Mod Sites

The Office of the SpecialInspector General forthe Troubled Asset ReliefProgram (SIGTARP) hasannounced that it has

shut down 85 alleged online loan mod-ification scams promoted through Webbanners and other Web ads. SIGTARPinvestigates loan mod schemes inwhich companies charge strugglinghomeowners a fee in exchange for falsepromises of lowering the homeowner’smortgage through TARP’s housing pro-gram, the Home Affordable ModificationProgram (HAMP). Google, in cooperationwith an ongoing criminal SIGTARPinvestigation of these scams, has sus-pended advertising relationshipswith more than 500 Internet adver-tisers and agents associated with the85 alleged online mortgage fraudschemes and related deceptiveadvertising.

“The first place many homeownersturn for help in lowering their mort-gage is the Internet through onlinesearch engines, and that’s preciselywhere they are being taken advantageof and targeted,” said Christy Romero,Deputy Special Inspector General forTARP. “Web ads that offer a false senseof hope may not be legitimate and canend up costing homeowners theirhome. SIGTARP is diligently working onevery level to stop these frauds, to pro-tect homeowners from being victim-

MakeReal Estate Agents

Your Soldiers!

B Y R A Y M O N D B A R T R E A U

The age-long question of, “the best way to gain and keep relationships withreal estate agents” is becoming more obvious … you must give them businessto get their business. Of course it isn’t as simple as it sounds. It takes strategicplanning, research and the right relationships to help you achieve this goal.

First, you must determine who you want to work with. A few suggestionswould be looking for the real estate agents with the most listings. Or, who isthe most aggressive buyer agents in your market. My advice would be to tar-get two or three new real estate partners to work with and send business to.

Once you have your target list of new partners, you now must gain asource of business for them. There are many ways you can do this and loweryou overall cost per acquisition. One of the easiest ways with an almostimmediate return on your investment is providing homebuyer leads to high-producing buyers’ agents/brokers. Real estate agents are in desperate needof leads, and when they have a strategic partner providing them leads, theyare guaranteed to send you all their loan business.

Make the real estate agents your soldiers, your army on the frontline. Aswe know, getting a hold of any lead is the first major battle. By sharing home-buyer leads with a real estate agent, you are doubling your chances of con-tacting the individual to pre-qualify them for a loan. This is another battlewithin itself as you always have to make sure that your real estate partnersare calling the leads multiple times a week until they get a hold of them.

I have spent the last six months putting together a business model to tar-get real estate agents using our traditional marketing methods as our corevalue to the real estate industry. If you can consistently feed a real estatepartner leads day in and day out for less than half of your current budget,you will have real estate agents eating out of the palm of your hand. Activitybreeds higher sales, easier recruiting, more agents working in office and pay-ing desk fees to receive leads, and MOST important to you … a happy realestate partner or two.

Where do you get exclusive buyer and seller leads and how can you deliv-er them to your partners on a real-time basis? Our staff of mortgage and realestate marketing professionals can help with the entire process, in fact, weare giving 10 leads away free on any purchase loan marketing consultation.I can personally set you up with a specialist in your state, simply e-mail meat [email protected].

Raymond Bartreau is Chief Executive Officer of Best Rate Referrals. He maybe reached by phone at (800) 811-1402 or [email protected].

SPONSORED EDITORIAL

Photo credit: Creatas

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BER2011Licenced Mortgage Lender in Alabama, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Illinois, Indiana, Louisiana, Maryland, Massachusetts, Michigan, Minnesota,

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If you are an experienced loan professional that wants to build a dynamic future, call David Gowen @ 877-255-3554 x 144 or email [email protected] . Also, Visit us on the web at www.equityloans.com or on Linkedin and Facebook.

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nmp news flash continued from page 26

year, to $33.7 billion. That amount is$1.9 billion higher than at the end of FY2009, and is also $7.7 billion higherthan was predicted last year by theindependent actuaries. At the sametime, the economic net worth of theFund fell by $2.1 billion this year, from$4.7 billion to $2.6 billion, as FHA con-tinued to build loss reserves to preparefor greater claims in the coming years.

Losses on loans insured through thefirst quarter of fiscal year 2009 continueto place a significant strain on the Fundand are expected to reach $26 billionwithin a few more years. Though theywere prohibited in 2009, the ongoingeffect of so-called “seller-funded down-payment assistance loans” is still signif-icant. The net expected cost of thoseloans, as projected by the independentactuaries, grew by $1.8 billion over thepast year to $14.1 billion. Conversely,the actuaries found that the FY2010 andFY2011 books are expected to be veryprofitable, providing significant net rev-enues to offset losses on earlier books.Loans insured to-date under the ObamaAdministration are providing $18 bil-lion in economic value for the MMIFund. Under the base-case forecastused by the independent actuaries, theFY 2012 book will add an additional $9billion in economic value to the Fund.

NAR ForecastsCommercial MarketGrowth in 2012

Commerc ia lreal estate mar-kets have beenrelatively flatthis year, butimproving fun-d a m e n t a l s

mean a more positive trend is expectedin 2012, according to a report from theNational Association of Realtors (NAR).Looking at commercial vacancy ratesfrom the fourth quarter of 2011 to thefourth quarter of 2012, NAR forecastsvacancies to decline 0.6 percentagepoint in the office sector, 0.4 point inindustrial real estate, 0.8 point in theretail sector and a 0.7 percentage pointin the multifamily rental market.

“Vacancy rates are flat, leasing is softand concessions continue to make it atenant’s market,” said Lawrence Yun,NAR chief economist. “However, withmodest economic growth and job cre-ation, the fundamentals for commercialreal estate should gradually improve inthe coming year. Vacancy rates areexpected to trend lower and rentsshould rise modestly next year. In themultifamily market, which already hasthe tightest vacancy rates in any com-mercial sector, apartment rents will berising at faster rates in most of thecountry next year. If new multifamilyconstruction doesn’t ramp up, rentgrowth could potentially approachseven percent over the next two years,”Yun said.

The Society of Industrial and OfficeRealtors (SIOR), in its SIOR CommercialReal Estate Index, an attitudinal surveyof 231 local market experts, shows the

broad industrial and office marketswere relatively flat in the third quarter,in step with macroeconomic trends.The national economy continues toaffect the sectors, with 92 percent ofrespondents reporting the economy ishaving a negative impact on their localmarket. The SIOR index, measuring theimpact of 10 variables, rose 0.6 per-centage point to 55.5 in the third quar-ter, following a decline of 2.6 percent-age points in the second quarter. In asplit from the recent past, the industri-al sector advanced while the office sec-tor declined.

The SIOR index is notably below thelevel of 100 that represents a balancedmarketplace, but had seen six consecu-tive quarterly improvements before thelast two quarters. The last time theindex reached the 100 level was in thethird quarter of 2007. Constructionactivity remains low, with 96 percent ofrespondents indicating that it is lowerthan normal; 88 percent said it is a buy-ers’ market in terms of developmentacquisitions. Prices are below construc-tion costs in 83 percent of markets.

NAR’s latest Commercial Real EstateOutlook offers projections for fourmajor commercial sectors and analyzesquarterly data in the office, industrial,retail and multifamily markets. Historicdata for metro areas were provided byREIS Inc., a source of commercial realestate performance information.

FinCEN Seeks to StampOut Mortgage FraudAmong GSEs

The Financial CrimesEnforcement Network(FinCEN) has announcedthat it has proposedregulations that wouldrequire the govern-

ment-sponsored enterprises (GSEs)—Fannie Mae and Freddie Mac—to devel-op anti-money laundering (AML) pro-grams and file suspicious activityreports (SARs) with FinCEN. The GSEscurrently file fraud reports with theirregulator and conservator, the FederalHousing Finance Agency (FHFA), whichthen files SARs with FinCEN when thefacts in a particular fraud report war-rant a SAR under FinCEN’s reportingstandards. The proposed regulationswould require that the GSEs file SARsdirectly with FinCEN, which will helpstreamline the reporting process, pro-vide law enforcement with quickeraccess to data about potential fraud,and result in the reporting of a widerrange of suspected financial crimes.

“This action is another step to helprestore the integrity of the mortgagemarket,” said FinCEN Director James H.Freis Jr. “Providing law enforcementwith quicker access to data aboutpotential financial crimes will helpthem better hold illicit actors account-able for mortgage fraud and otherscams.”

FinCEN closely coordinated this pro-posal with the FHFA, to which FinCENwould delegate responsibility for exam-ining the GSEs with compliance for the

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ized, and to hold accountable criminalswho defraud homeowners in connectionwith HAMP and other TARP programs.”

SIGTARP, through an investigativeinquiry, notified Google of a list of Websites alleged to be fraudulently claim-ing to assist homeowners with theHAMP mortgage modification process.The advertisers or agents, via Web-based advertisements on Google, wereinstead scamming distressed home-owners. The most common schemesincluded asking homeowners for anupfront fee and telling homeowners tostop paying their mortgage and tocease all contact with their lender.

The schemes included divertingmortgage payments to the scammers,transferring property deeds, and/orreleasing personal financial informa-tion. In some instances, the Web sitesclaimed to be affiliated with the U.S.government through the use of a gov-ernment seal or name similar to a gov-ernment agency. Google’s suspension ofthese advertising relationships willhave a dramatic and immediate impacton the ability of scam artists to seek outand victimize unwitting homeowners.

FHA Cash Reserves See Near 50 PercentAnnual Drop

The U.S. Departmentof Housing & UrbanDevelopment (HUD)has released itsAnnual Report to

Congress Regarding the Financial Statusof the FHA Mutual Mortgage InsuranceFund: Fiscal Year 2011 on the financialstatus of the Federal HousingAdministration (FHA) Mutual MortgageInsurance (MMI) Fund, the backbone ofthe FHA single-family and reverse mort-gage programs. In reporting on findingsof the annual independent actuarialstudy, HUD indicates that, in the midstof continued weakness in housing mar-kets across the county, the MMI Fundcapital ratio remains positive this yearat 0.24 percent. With new risk controlsand premiums put in place by the

Obama Administration, the independ-ent actuaries predict the Fund willreturn to the Congressionally-mandat-ed threshold of two percent capitalmore quickly than was projected bylast year’s review. The economic valueof new insurance endorsements in FY2011 for the Fund was nearly doublethat of FY 2010 endorsements, beingclose to $11 billion.

As was the case last year, the newactuarial study shows that FHA isexpected to sustain significant lossesfrom loans insured prior to 2009, andthus its capital reserve remains belowthe congressionally mandated thresh-old of two percent of total insurance-in-force. However, the actuaries’report concludes that, barring a fur-ther significant downturn in homeprices, the MMI Fund will start torebuild capital in 2012, and return toa level of two percent by 2014—out-pacing last year’s prediction. Theactions taken by this Administrationhave put FHA into a position wherethe actuaries expect rapid growth incapital once the housing marketbegins a broad-based recovery.

“In the midst of a tough housingmarket the FHA MMI Fund continues tobe actuarially sound,” said Acting FHACommissioner Carol Galante. “Becauseof the Obama Administration’s strategyto protect the FHA Fund—tightening ofrisk controls, increased premiums tostabilize near-term finances, andexpanded loss mitigation assistance toavoid unnecessary claims—this pastyear’s endorsements had the highestcredit quality ever recorded, and willyield historically high levels of netreceipts in the years ahead.”

FHA’s capital reserve ratio measuresreserves in excess of those needed tocover projected losses over the next 30years. The independent actuarialreviews of the MMI Fund estimate FHA’scapital reserve ratio to be 0.24 percentof total insurance-in-force this year,falling from 0.50 percent in 2010. FHA’stotal liquid assets (cash plus invest-ments) grew by $800 million since last

Photo credit: Medioimages/Photodisc

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regulations. FinCEN anticipates thatnew AML and SAR programs can be effi-ciently and effectively integrated intothe GSEs’ existing anti-fraud policies,procedures and training programs.

“This is a positive step and we arepleased to work with FinCEN on thisproject,” said FHFA Acting DirectorEdward J. DeMarco. “The proposed rulewill streamline the process and buildon the efforts of FHFA and the GSEs tosupport law enforcement in its impor-tant work to fight mortgage fraud.”

Another important benefit to theGSEs of developing an AML programand filing SARs directly with FinCEN isthat the GSEs, including their directors,officers, and employees, will becomesubject to the Bank Secrecy Act’s (BSA)“safe harbor” provisions, which areintended to encourage financial institu-tions to report suspicious activitieswithout fear of liability from lawsuitsby SAR subjects.

FinCEN has placed combating mort-gage loan fraud and related criminalactivity as one of its highest prioritiesover the past five years. FinCEN has apending rule to apply AML programand SAR reporting requirements withrespect to non-bank mortgage lendersand originators and has released quar-terly mortgage loan fraud reports totrack the type and number of suspectedfraud.

Ginnie Mae ReportsRecord Year of $1.184Billion in Net Income

Ginnie Mae hasreported thatits fiscal yearnet income for2011 reached acorporate high-

point of $1.184 billion, surpassing $541.5million in FY 2010 and a previous high of$906 million in FY 2008. Revenues of$1.064 billion were up from $1.011 billionin 2010, while retained earnings rose to$15.7 billion from $14.6 billion.

“Ginnie Mae has had a remarkableyear; it’s our best yet,” said Ginnie MaePresident Ted Tozer. “Our financial per-formance this fiscal year—despite a mort-gage market still in turmoil—is a testa-ment to our well-functioning businessmodel. Our business is simple, ourapproach to risk-taking is conservative,and our ability to finance government-insured mortgages is helping to keep thehousing market afloat.”

As the private sector retreated in recentyears, Ginnie Mae stepped in to help main-tain the flow of capital from global mar-kets to the nation’s housing markets,financing nearly 60 percent of all homepurchases in FY 2011. The value securityholders place on Ginnie Mae’s full faithand credit guaranty means that the corpo-ration can ensure a consistent pool offunding for government mortgages. Thissupports the economic stabilization effortsof Congress and the Administration bymaking it possible for financial institutionsto continue mortgage lending.

“Ginnie Mae’s role and significance inU.S. housing finance is as strong as it has

ever been,” said Ginnie Mae EVP MaryKinney. “Since the onset of the credit crisis,Ginnie Mae has guaranteed $1.3 trillion,which financed about 4.8 million single-family homes and multifamily units forfamilies across the country. Our ability tosimultaneously attract private capital fromthe global capital markets and provideeffective business solutions for MBS issuerskeeps capital flowing into U.S. housingeven during recessionary periods.”

Completed Loan ModsPass the Five MillionMark Nationwide

HOPE NOW hasreported that as ofthe third quarter of2011, 4.97 million

loan modifications have been completedfor homeowners since 2007. This totalincludes more than 4.11 million propri-etary modifications and 856,974 complet-ed under the Home AffordableModification Program (HAMP) throughSeptember 2011. Based on current trends,the industry has surpassed the five millionloan modification mark to date.

“When HOPE NOW started reportingdata at the end of 2007, loan modifica-tions were barely measurable,” saidFaith Schwartz, executive director ofHOPE NOW. “Homeowners either paidtheir mortgages or forfeited theirhomes. However, over the past fouryears, the housing crisis has taught us tore-think helping distressed homeown-ers through an unprecedented level of

collaboration, funding, manpower andexpanded resources. Five million hardworking American families have beenable to prevent foreclosures throughpermanent loan modifications.”

The latest data compiled by HOPENOW shows that after six months of sea-soning, more than 80 percent of theproprietary loan modifications com-pleted are performing (less than 90days past due). The inventory of 60-day-plus delinquencies in the third quarterof 2011 was 2.81 million. This comparesto 3.17 million at the same point in2010, an 11 percent year-over-yeardecline. Foreclosure starts stood atapproximately 600,000. This compares

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with 709,000 during the third quarterof 2010, a decrease of 15 percent.Foreclosure sales were approximately200,000. This compares to 314,000 dur-ing the same period last year, adecrease of 36 percent.

“While this is quite an accomplish-ment, the housing crisis is far fromover,” said Schwartz. “The industry, andits partners in the non-profit counselingcommunity and the government,remains committed to reaching out tostruggling homeowners, improving thecustomer experience and embracingnew technology.”

Fixed Rate Mortgages the Overwhelming Choicefor Refi Borrowers

According to theFreddie Mac Quarter-ly Product TransitionReport for the thirdquarter of 2011,fixed-rate loansaccounted for more

than 95 percent of refinance loans.Refinancing borrowers clearly preferredfixed-rate loans, regardless of whethertheir original loan was an adjustable-rate mortgage (ARM) or a fixed-rate.

Freddie Mac’s Quarterly ProductTransition Report comes from a sampleof properties on which Freddie Mac hasfunded at least two successive loansand the latest loan is for refinancerather than for home purchase. Someloan products, such as one-year ARMsand balloons, are based on a smallnumber of transactions. During thethird quarter of 2011, the refinanceshare of applications averaged 78 per-cent in Freddie Mac’s monthly refi sur-vey, and the ARM share of applicationswas seven percent in Freddie Mac’smonthly ARM survey, which includespurchase-money, as well as refinanceapplications.

“Fixed mortgage rates averaged 4.29percent for 30-year loans and 3.47 per-cent for 15-year product during thethird quarter in Freddie Mac’s PrimaryMortgage Market Survey (PMMS), wellbelow long-term averages,” said FrankNothaft, Freddie Mac vice presidentand chief economist. “The Bureau ofEconomic Analysis has estimated theaverage coupon on single-family loanswas about 5.3 percent during the thirdquarter of 2011. It’s no wonder we con-tinue to see strong refinance activityinto fixed-rate loans.”

An increasing share of refinancingborrowers chose to shorten their loanterms during the second quarter of2011. Of borrowers who paid off a 30-year fixed-rate loan, 40 percent chose a15- or 20-year loan, the highest suchshare since the second quarter of 2003.

“The extension to the end of 2013and additional enhancements to theHome Affordable Refinance Program(HARP) announced on Oct. 24, provide

opportunities to eligible borrowers whohad not yet refinanced,” said Nothaft.“More than 900,000 borrowers havealready refinanced via the programthrough September. The enhancementsprovide incentives for eligible borrow-ers to shorten their loan terms, from 30years to 20- or 15-years.”

Sixty-three percent of borrowers whohad a hybrid ARM chose a fixed-rateloan during the third quarter, while theremaining 37 percent chose to refi-nance into the same type of product.

“Compared to a 30-year fixed-ratemortgage, the interest rate on 15-yearfixed was about 0.8 percentage pointslower during the third quarter,” saidNothaft. “For borrowers motivated torefinance by low fixed-rates, they couldobtain even lower rates by shorteningtheir term. The initial interest rate on a5/1 hybrid ARM was about 1.2 percent-age points lower than on a 30-yearfixed-rate loan. For borrowers who planto remain in their current home foronly a few years, the hybrid ARM allowsfor even a greater interest-rate savings.”

Report Finds Rise in MisrepresentedBorrower Data

Interthinx has releasedits 2011 Third QuarterMortgage Fraud RiskReport, and accordingto the most recent

analysis, employment and incomefraud risk is on the rise, up 8.8 percentfrom third-quarter 2010 and up 50 per-cent from third-quarter 2009. Companyanalysts believe the increase is due toborrower data being misrepresented inorder to meet debt-to-income (DTI)thresholds required by lenders in theface of stagnant or declining realincomes.

Other results uncovered in the mostrecent report include:� For the sixth consecutive quarter, the

two riskiest states are unchanged:Nevada has the highest fraud risk,with an index value of 255; Arizona isnext, with an index value of 243.

� California was the third riskiest stateoverall, with an index value of 197. Itwas particularly well-represented inall the indices, containing half of theten riskiest metropolitan statisticalareas (MSA), seven of the top ten ZIPcodes, and more than half of the top10 MSAs in the property valuationand employment/income indices.

� Non-geographic risk profiling sug-gests that fraud risk is greatest inloans with high loan-to-incomeratios (the ratio of loan amount tomonthly income). In general, all thefraud risk indices increase as theloan-to-income ratio increases, soalmost universally, the highestindices occur at loan-to-income val-ues close to or greater than 100.“We’ve been carefully monitoring

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following:Your own customized private labeled ShortSaleSpeedway™ siteAccess to reporting on all borrowers being put into the systemTraining for you, your real estate agents and a dedicated support teamMarketing materials to promote your ShortSaleSpeedway™ to real estateagentsIn many cases, the setup for the private labeled site costs you nothing!


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the increase in the employment andincome fraud risk index for the last twoyears,” said Mike Zwerner, senior vicepresident for Interthinx. “This action-able risk intelligence led us to developthe integration of The Work Numberfrom Equifax within FraudGUARD toprovide lenders with an efficient andeffective way to confirm a borrower’sability-to-repay. At Interthinx, we relyheavily on trending from our MortgageFraud Risk Report to lead technologyand product innovation.”

George WashingtonUniversity Study RevealsFHA’s Layered RiskIncreases Likelihood of Default

A new study conducted by the GeorgeWashington University School ofBusiness (GWSB) has found that theFederal Housing Administration (FHA) isat risk and needs to rethink layeringrisk— especially to borrowers withpoor credit history and high paymentburdens. The new report, released byGWSB’s Center for Real Estate andUrban Analysis (CREUA), is the third inits “FHA Assessment Report” series. Co-authored by Robert Van Order, profes-sor of finance, and Anthony Yezer,professor of economics, the reportexamines data on mortgage defaultsupplied by different sources, con-cluding that downpayment and equityare not the only things that matter indetermining losses.

“Our analysis seeks to illuminate thefactors that can greatly increase a loan’srisk of default,” said Dr. Van Order,Oliver T. Carr Professor of Real Estateand chair of CREUA. “We have foundthat down payment alone is not theleading cause of default; nor are lowdown payment loans much riskier thanother loans. However, a number of fac-tors working together—poor creditscore, a high ratio of debt-to-incomeand other variables, such as seller-funded assistance—can create a recipefor disaster.”

The report, “FHA Assessment Report:The Role of the Federal HousingAdministration in a Recovering U.S.Housing Market,” analyzes credit risk inmortgage lending, finding that whilelow downpayment lending can be donesafely, those loans with the highest like-lihood of default are those in whichdownpayment size, credit score (knownas FICO score) and debt-to-income (DTI)ratio, are “layered,” or present in com-bination. While the FHA has slightlytightened up on layering, the reportclaims it is still at risk. While the privatesector has mitigated such risk by impos-ing stricter guide lines for low downpayment loans, FHA continues to quali-fy such borrowers for mortgage financ-ing, putting it at risk of being selectedagainst. The report cites FHA’s “politicaloversight” as a cause of its inflexibility.

FHA guidelines permit it to give max-imum financing (96.5 percent loan-to-

value ratio) to an individual with a 580FICO score. Moreover, such borrowerscan have a DTI that can reach 48 per-cent. With such a low credit score andhigh DTI, the report looks at 2008-2009data to find that such a loan would havea greater than 25 percent chance ofdefault in a sharp recession. However,in the private sector, low down pay-ment loans (3.5 percent) are generallylimited to a borrower with FICO scoresof approximately 720 and more man-ageable DTI ratios, such as below 41percent. According to the same analysis,such a loan would have about a twopercent chance of default. The reportmakes the point that FHA does not haveto mimic the private sector, but it musthave the ability to “adjust to changes orit risks being selected against.”

“For FHA, it’s a simple matter of pru-dent underwriting,” said Dr. Van Order.“When a portfolio includes such a highvolume of high risk mortgages to bor-rowers with significant debt loads andpoor credit history, you’re either goingto collapse from defaults or be forcedto try to recover losses by chasing rev-enue from premium increases for newborrowers.”

The report finds that the true valueof a borrower’s equity in a house can bemasked by the source of the downpay-ment. The FHA’s treatment of loans withseller-assisted financing has been asso-ciated with inflated house prices, lessreal equity in the property, and it hasaccounted for a significant share of theloan losses eroding reserves. Politicalimpediments have made it difficult forFHA to modify policies toward seller-assisted financing of down paymentsand closing costs and increased losses tothe insurance fund that have requiredhigher fees for current borrowers.

Quicken Loans RanksHighest in CustomerSatisfaction in Latest J.D. Power Survey

Overall customer satis-faction with primarymortgage lenders hasincreased considerablyfrom 2010, according to

the J.D. Power and Associates 2011 U.S.Primary Mortgage OriginationSatisfaction Study. The study measurescustomer satisfaction in four key factorsof the mortgage origination experience:Application/approval process, loan repre-sentative, closing and contact. Customer sat-isfaction in 2011 averages 747 on a 1,000-point scale, up 13 points from 2010.

“The increase in customer satisfac-tion is driven by improvements in manyof the key best practices, includingproactive status updates, providing atime frame to expect and meeting it,and providing follow-up contact afterthe application is submitted,” saidDavid Lo, director of financial servicesat J.D. Power and Associates. Accordingto Lo, this increase in satisfaction is instark contrast to the mortgage servicingindustry, in which homeowner satisfac-

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AllRegs and The PriestonGroup Collaborate onLender Level DueDiligence Tool

AllRegs and ThePrieston Group Inc.(TPG) have announcedthe launch of a newsuite of risk assess-

ment resources and benchmarks for themortgage industry. The cornerstone ofthese products is the patentedMortgage Operational SafetyAssessment (MOSA) Score and Report.AllRegs has become the exclusive dis-tributor of MOSA and its related prod-ucts. Lenders are evaluated with the riskassessment tools in MOSA and thenreceive a score between 0 and 800, withhigher scores indicating lower risk. In arecent study reviewing 400,000 loans,higher MOSA scores have been provento be effective indicators in reducingoverall mortgage repurchase risk.

“MOSA is poised to be an industrybenchmark that will help mortgagecompanies reduce their corporate risk,changing how they approach business,”said Dan Thoms, executive vice presi-dent for AllRegs.

The MOSA Score and Report consists of amethodology and process that evaluates 11different key aspects of mortgage operationsand origination, including OperationalControls, Company Background, WarehouseLines, Geographic Mix, Product Mix,Repurchase History, Quality Control (QC)Plan, Operational Checklists, BrokerManagement, Correspondent Managementand Appraiser Management.

MOSA includes an in-depth evaluationconducted by an independent third-partywhich includes, but is not limited to, filereviews and analysis as well as interviewswith lender’s key personnel. Mortgagelenders are then rendered a MOSA scoreand detailed report of the assessmentand evaluation findings.

“We are very excited to nationallylaunch the patented MOSA Score andReport,” said Arthur Prieston, chairmanof TPG. “Ten years in the making, MOSAis the Lender level due diligence tool allindustry participants, including ratingagencies, regulators, investors, andlenders of all sizes, have needed tomanage their appetite for risk. To haveAllRegs as our exclusive distributor to itsthousands of customers will renderMOSA the industry standard.”

New United WholesaleMortgage OfferingSimplifies CustomerPricing and Options

United Wholesale Mortgage(UWM) has announcedthat it has implemented

a proprietary decisioning solutionwithin its broker portal, developed in-house, that returns accurate pricingand product eligibility on up to 10 pro-grams at once with the click of amouse. “Simply put, the addition ofEasy Qualifier (EQ) to our alreadyrobust broker portal makes it easierand quicker for our broker communityto quickly identify programs, priceloans and offer the lowest paymentoptions while talking with borrowers,”said Mat Ishbia, president of UWM. “Wewant to make it as easy as possible todo business with us and technology iskey to providing excellence in service.Using EQ, our brokers are able to con-fidently say ‘yes’ to borrowers at thepoint of first contact and close theloan.”

EQ is integrated with EASE (EasiestApplication System Ever), UWM’s cus-tom broker portal, which provides bro-kers with a number of Web-based andpipeline management tools. EASE con-tains an automated pricing engine thatbrokers rely on for accurate pricing oneligible loans. The portal also allowsfor rate-locks, offers real-time statuson conditions, enables ease of commu-nication with underwriters and pro-vides visibility over the entire pipelinefrom submission to funding. In addi-tion, EASE allows brokers to instantlyorder FHA case numbers and conve-niently generate a UWM Truth-in-Lending (TIL) disclosure.

EQ and EASE work together to helpbrokers close more loans in a shortertimeframe and with greater accuracy.The portal’s functionality providesUWM’s brokers with a distinct compet-itive advantage over other originatorsin the market, which ultimately facili-tates customer loyalty. UWM says theirtechnology and mortgage toolsincreases its volume and pull-throughrates, speeds up turn times, attractstop tier brokers and more.

“UWM’s Easy Qualifier is an intuitivetime saving tool that gets you immedi-ate answers on products and pricing,”said Andy Brikho, senior loan officer at

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American PacificAnnounces Free Androidand iPhone BasedMarketing Tool

American PacificMortgage (APM)has announcedthe release of

APMConnect, a new marketing plat-form which includes a Web-based mar-keting engine and mobile phone app forboth iOS-(iPhone) and Android-basedphones. APMConnect will keep loan orig-inators (LOs) connected to their homeoffices, realtors and customers fromwherever they are. The app gives LOs theability to access and order customizedmarketing materials and promotionalcompany items, while giving customersand realtors access to mortgage calcula-tors, educational videos and a tool thathelps map a route between open houses.

“When our executive team announcedAPMConnect to our branch managers andbankers, they were all amazed by itscapabilities,” said Leif Boyd, SVP of pro-duction at American Pacific Mortgage.“These are tools that have never beenavailable to mortgage bankers in this wayand will allow them to do their jobs moreeffectively and efficiently.”

APMConnect allows an LO to quicklyorder a customized flier for an openhouse while meeting with a realtor andcan have the file emailed to a smartphone, sent to the realtor directly, sentto a local copy store or have hardcopies mailed to them. Having theseuser-fulfilled, customized materialsavailable at their fingertips providesbankers with additional flexibility.Bankers and LOs can create the materi-als when they are thinking of them andthey don’t have to go back to the office.If they are in a meeting with a customeror realtor, they can give them the digi-tal file within minutes.

APMConnect can be customized foreach branch office and is free to realtorsand customers to download throughiTunes and the Android Market. Afterdownloading the app to their mobiledevices, customers and realtors can con-nect directly with their LOs or bankers,archive their personal and client loaninformation, access a mortgage calcula-tor and watch customer educationvideos on multiple topics. APMConnectalso provides an open house mappingfeature. Customers and realtors plug inthe houses they want to visit and theapp will map the best route usingGoogle Maps.

Zillow Brings NewProperty Search App theAndroid Market

Zillow Inc. has launched afree real estate app forthe Android Tablet,Zillow’s eighth app. The

Zillow Android Tablet App’s photo-driven home shopping experiencewas built specifically for the AndroidTablet to take advantage of the high-resolution, touch-screen interface,allowing home shoppers to scrollthrough full-screen photos of homesfor sale and rent, and even comparethem side by side. The free app pro-vides home shoppers the opportunityto select multiple homes and com-pare them side by side. When com-paring homes, home shoppers canview photos, sort by home detailsand save one or all of the homes tofavorites.

With the Zillow Android Tablet App,home shoppers now can:� Browse, compare and shop for

homes on a large touch-screen mapwith information on all home types,including those for sale or rent andrecently sold.

� View stunning full-screen photos ofhomes and curbside views withGoogle Street View.

� Install a widget to browse nearbyhomes right from the tablet homescreen.

� Search for homes and neighborhoodsutilizing voice search—just say anaddress, neighborhood or city andthe Zillow Android Tablet App willtake you there.

� Use GPS to find nearby homes on themarket.

� Find Zestimate home values and his-torical data on more than 100 mil-

lion U.S. homes.� Share homes via e-mail, Facebook

and Twitter.“With today’s announcement, we are

proud to say that Zillow has the largestcollection of mobile real estate apps,”said Spencer Rascoff, Zillow’s chiefexecutive officer. “Zillow continues toreinvent the mobile home shoppingexperience and the Zillow AndroidTablet App is no exception. The app wasdesigned just for the Android Tabletand brings two entirely new features toreal estate shopping–side-by-side com-pare and a nearby-homes widget, giv-ing home shoppers two new ways toshop for homes.”


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custom reports to be programmed for thispurpose is neither cost- nor time-efficient.This is often a secondary hurdle to theadoption of this helpful technology. As aresult, there is a clear need for on-demandand robust “ad-hoc” reporting.

It is important to understand what “adhoc” means. True ad hoc reporting pro-vides the user the ability to create and cus-tomize reports on-demand by pulling fromavailable data fields and generating a newview of the data. Ad hoc reporting is nothaving the technology provider buildreports behind the scenes. That is report“customization,” which translates tolengthy timelines and additional costs.

Utilizing a strategic combination ofstandard and ad hoc reporting givesusers of a valuation management plat-form a competitive edge in meetingbusiness and compliance needs criticalto success. Having the ability to control,manage and deploy strategies throughwell-tuned reporting modules providesthe necessary efficiency, accountabilityand performance required in today’smortgage environment

David Rasmussen is senior vice presidentof operations at Veros Real EstateSolutions. For more information, call(714) 415-6300 or visit Veros.com.

valuenation continued from page 16

new to market continued from page 33

New LPS InterfaceIntegrates With the UCDP

Lender ProcessingServices Inc. (LPS) hasannounced that, through

its Loan Quality Gateway, LPS’ RealEC,Empower and LSI divisions are nowdirectly integrated with the UniformCollateral Data Portal (UCDP). The UCDPwas developed by Freddie Mac andFannie Mae, the government-spon-sored enterprises (GSEs), for the elec-tronic collection of appraisal data. LPS’Loan Quality Gateway is an open, Web-based industry utility providing loanorigination services and technologysolutions leveraged to meet loan quali-ty requirements.

“Implementing uniform appraisal andloan delivery standards to improve dataaccuracy and transparency is essential torestoring confidence in loan quality,” saidLPS Chief Operating Officer Dan Scheuble.“By interfacing with the UCDP, we canhelp our clients simplify the exchange ofloan data with the GSEs, improve riskmanagement capabilities and betterrespond to changing requirements andmarket conditions.”

LPS’ integration with the UCDP willfacilitate seamless electronic appraisalreport submission for lenders that meetthe GSEs’ requirements, including com-pliance checks for the new UniformAppraisal Dataset (UAD) requirementsnow in effect. The UCDP and UAD aretwo of several initiatives within theGSEs’ Uniform Mortgage Data Program,an ongoing effort to enhance uniformappraisal and other loan delivery stan-dards for the mortgage industry.

Aklero Caters to Small Lender MarketWith New QC Offering

Aklero Risk Analytics hasannounced the release ofDQx Scan, designed tomeet the quality control

(QC) needs of small lenders; particularly,community banks and credit unions. Thelender scans the loan documents, namesthe file, hits send and delivers the docu-ments securely to Aklero, which classifiesthe documents and extracts critical loandata. An automated deficiency detectionanalysis is performed on both the docu-ments and the data, before performing themost comprehensive and accurate QCaudit in the industry. In addition, Aklerowill provide the scanner to the client.

“The aim is to provide these financialinstitutions with the same quality controlcapabilities that we provide to the largestlenders and investors,” said Brian K.Fitzpatrick. “They want fast, efficient, high-quality services and that’s what DQx Scandelivers to them.”

If the lender does not have their filespreviously scanned, DQx Scan eliminatesthe hassle of delivering loan files for audit.The solution reduces the time that the QCprocess requires, saves money, and pro-vides the most accurate and detailed QC inthe industry, because it validates data fromsource systems to the data contained in thedocuments, in a highly automated fashion.

“With DQx Scan, files never leave thelenders premises, the files go securely intoour platform to begin the classification ofloan files, extraction and validation of keydata elements, a process that is completedwithin 24 hours,” said Fitzpatrick.“Depending on the needs of the lender,Aklero can perform QC for specific func-tions such as pre-closing or at any point inthe mortgage life cycle.”

New Equifax SolutionOffers Access to MultipleCredit Scores andMortgage PerformanceIndicators

Equifax Inc. hasannounced the

launch of a user-friendly, online solu-tion for investors and lenders. Equifax’snew whole loan solution provides up-

to-date borrower credit scores and dataacross all accounts for non-securitizedmortgage and home equity loans—enabling rapid turnaround of this criti-cal data for investors. This unique suiteof solutions enables investors andlenders to better predict loan delin-quency, default and prepayment andmore accurately value and price invest-ments using hundreds of leading indi-cators of mortgage loan performanceand highly accurate risk models.

Equifax designed this latest innova-tion as an online platform consisting ofthree products—Credit Risk Insight Pre-Bid, Credit Risk Insight Post-Bid andCredit Risk Insight Surveillance. Pre-Bidstatistically matches anonymous bor-rower credit information to loan-leveldata and then appends various leadingindicators of loan performance such asupdated credit and bankruptcy scores,performance on past mortgages, debtbalances, delinquencies and monthlypayments. With Pre-Bid, investorsreceive 12 months of anonymous credithistory for each loan while investorsand lenders using Post-Bid andSurveillance benefit from timely accessto current data on each borrower.Investors and lenders have the optionof applying this analysis at the loanlevel as early as pre-bid—giving them amore complete picture of the collateralhealth underlying non-securitizedmortgage and home equity loans.

“Investors and lenders historicallyhave had limited, up-to-date borrowerinformation on mortgage loans—untilEquifax’s post-bid and surveillance solu-tions. For many investors and lenders,this has created a blind spot whenassessing the financial profile of mort-gage borrowers and making loan pur-chase and sale decisions,” said DennisCorkery, vice president, Equifax CapitalMarkets. “By providing a 360 degreeview of borrower financial health,Credit Risk Insight Whole Loan equipsfinancial institutions with the insightthey need to value residential wholeloans based on an asset’s complete riskprofile.”

Visionary Apps BringsForeclosure Tracking Tool to the AndroidMarketplace

Visionary Apps LLC hasannounced that itsComplete ForeclosuresApp, exclusively powered

by data from RealtyTrac, will be launch-ing its service on the Android mobileplatform. The Complete ForeclosuresApp has the ability to search all ofRealtyTrac’s bank-owned, pre-foreclo-sure and auction listings from morethan 2,200 U.S. counties in theComplete Foreclosures App as soon asthey are posted in RealtyTrac. CompleteForeclosures now shows the mostrecent listings first so that users can eas-ily keep on top of the market they’rewatching locally or nationally.Consumers will have access to morethan 800,000 properties with full dataand address information. Remaining

properties have partial data with com-plete data being made available to cur-rent RealtyTrac subscribers or thosewith a seven-day free trial subscriptionwith RealtyTrac.

When launched in February 2010,the Complete Foreclosures App becamethe first national foreclosures app avail-able for mobile users that provided themost current information on propertieseasily and quickly. CompleteForeclosures understands the wayhomebuyers and investors search forproperties, and so they developed aquick and easy way for consumers toaccess millions of foreclosed propertieslocally and nationwide. Easy customiz-able options allow users to filter-outany properties that do not meet theirneeds. Custom sort options includeprice, square footage and number ofbedrooms and bathrooms.

“The Complete Foreclosures app hasbeen instrumental in providing the realestate industry and consumers alike theneeded information to make the bestpurchasing decisions possible so we’reexcited to debut the Android app at theNAR conference because we’re reachingour core users…real estate profession-als,” said Daniel Burrus, chief executiveofficer and founder of Visionary Apps.“With its introduction into the AndroidMarketplace, the real estate industrywill benefit from the most recentupdates to streamline the process mak-ing the search that much more trans-parent in a business where new listingcan become very valuable.”

New Cloud ComputingUCDP Submission ServiceHits the Market

Bradford Technologies,Schakra and Nasoft havejointly announced therelease of Bradford

Technologies’ PortalDirect, a newUniform Collateral Data Portal (UCDP)submission service powered byWindows Azure. PortalDirect is theresult of a development partnershipbetween appraisal software providerBradford Technologies, software devel-oper Schakra and real estate financetechnology developer Nasoft, in collab-oration with Microsoft. The relationshipallows Bradford to work alongsideNasoft, Schakra and Microsoft, its tech-nology experts to enable, deliver andmanage all Uniform Appraisal Dataset(UAD)-related appraisal services.

Based on the Windows Azure cloudcomputing platform, PortalDirect offerslenders and appraisal managementcompanies (AMC) complete scalabilitywith a virtually limitless capacity forsubmitting appraisals through theUCDP Portal, accelerating their compli-ance with the new UAD regulations. ITdepartments concerned with “homegrown” UAD solutions now have achoice to employ a UCDP solution thatis secure, highly available, scalable, andbuilt for the future on Microsoft’sWindows Azure cloud computing plat-form.

“We’re thrilled to be able to offer the

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“A Better HomeFor Your Branch”

Our program was designed to be ‘BETTER’. Better people, better tools, & better products.We believe in long-term relationships with

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industry a UCDP connection built forthe future. This is just the first of manyservices we will be offering to theindustry based on the Windows Azurecloud computing technology,” said JeffBradford, chief executive officer ofBradford Technologies.

PortalDirect is fast and uncomplicat-ed to set up, and provides the reliabili-ty of an enterprise-class solution.PortalDirect service consists of a B2Bsolution for companies that need tointegrate an appraisal delivery servicewith their existing systems, plus a webportal that allows companies to submitappraisals to the UCDP portal. In addi-tion, a UAD Compliance checking servicethat can be performed at the appraiser’sdesktop prior to submission to the AMCor prior to submission to the UCDP por-tal is also being offered. In leveraging theWindows Azure capabilities, BradfordTechnologies’ PortalDirect is able to offerunprecedented scalability in a secure,reliable and highly-available computinginfrastructure to allow its clients torespond quickly to competitive chal-lenges and business needs.

Windows Azure enables companiesto build, host, and scale applications inMicrosoft datacenters. Providing thepower of cloud computing to the mort-gage industry, Schakra and Nasoft willoffer many benefits over traditionalcomputing for customers in this seg-ment, providing a platform for cus-tomers and partners interested inbuilding on additional investments incloud-oriented services such as dataservices and applications for AMCs.Nasoft and Schakra will offer services toassist with the development of newapplications and migration of existingapplications.

New QuestSoft Product toAssist Lenders With StateCompliance Exams

QuestSoft,a provider

of mortgage compliance software andservices for the mortgage industry, hassignificantly enhanced its ComplianceEAGLE module that helps lenders vali-date and review multi-state and singlestate mortgage exam files prior to sub-mission to governing agencies.Administered jointly by the Conferenceof State Bank Supervisors (CSBS) and theAmerican Association of ResidentialMortgage Regulators (AARMR); themulti-state exams for state-charteredlenders began in January of this year.Several states have already begun theprocess, while many others will beimplementing the exams in early 2012.

Lenders utilizing the LicenseeExamination File (LEF) Validation fea-tures in Compliance EAGLE, which iscertified through RegulatorConnect,will be able to review loan files bybatch prior to submission to stateexaminers. This will result in remark-able improvements in accuracy, areduction in data entry errors andenhancements to a financial institu-tion’s ability to meet regulatordemands.

“The new exams use electronic for-mats to scrutinize over 250 data ele-ments of each loan file, far more datathan in the past,” said Leonard Ryan,president of QuestSoft. “Lenders usingCompliance EAGLE can review all oftheir loan files, test the files againstcompliance violations and generatereports that will help them understandthe quality of their loan data.”

QuestSoft also introduced its newACE State Exam Services (AccurateCompliance Evaluation) to further assistlenders with the LEF process by format-ting all data to the regulator specifica-tions, filtering the data per examinerrequest, and providing a streamlinedsubmission.

Compliance EAGLE evaluates loanfiles against a comprehensive suite ofcompliance regulations and standards,including the Home MortgageDisclosure Act (HMDA), CommunityReinvestment Act (CRA) and flood deter-mination requirements, as well as theTruth-in-Lending Act (TILA), and federal,state and local consumer and predatorylending laws. Additionally, ComplianceEAGLE’s reviews are widely accepted bymany secondary market investors.

CoreLogic Launches NewAppraiser Assistance Tool

CoreLogic hasannouncedthe release of

AppraiserSuite, a platform that com-bines multiple listing service (MLS) andpublic record data in a single onlineworkspace for appraisers, reviewappraisers, underwriters and qualitycontrol (QC) personnel. The new sub-scription-based platform enablesappraisers to quickly research and com-pile property and market informationfrom multiple sources. AppraiserSuitealso streamlines the comparable selec-tion process and offers the ability toexport data into standard appraisalreports through form population tools.

AppraiserSuite provides direct accessto the MLS data in many of the top U.S.markets gathered through theCoreLogic Partner InfoNet program inwhich more than 66 MLSs participate.By incorporating MLS and public recorddata into a single workspace,AppraiserSuite provides details on thesubject property, comparable proper-ties, historical transaction information,tax data, and other property and mar-ket area characteristics. AppraiserSuiteis also able to highlight inconsistenciesbetween the two data sources, and offerthe opportunity for Appraisers to con-tribute their own information that mayhelp reconcile these differences.

“Real estate professionals contributelocal market insights directly into theirMLS systems,” said Ben Graboske, chiefexecutive officer of CoreLogicMarketLinx. “AppraiserSuite makes iteasier for appraisers to gather the infor-mation they need when determiningthe value of a property. By incorporat-ing MLS information into AppraiserSuite,


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tion has declined significantly from2010.

“The reality today is that it’s a lotharder to get credit than it was a fewyears ago,” said Lo. “Many homeown-ers are stuck in their current mortgageand are unable to refinance due tocredit or equity challenges, and they’renot happy about it—thus the drop insatisfaction for mortgage servicing.But on the mortgage origination side,among customers who are able to getcredit, lenders are taking the extrasteps needed to please their cus-tomers, and it shows.”

Quicken Loans ranks highest amongprimary mortgage lenders for a secondconsecutive year with a score of 818,and performs particularly well in theapplication/approval process and clos-ing factors. SunTrust Mortgage followsin the rankings with a score of 791, per-forming particularly well in the loanrepresentative and closing factors. INGBank ranks third with a score of 789.

The study finds that lenders thathave improved in customer satisfactiontend to experience increases in marketshare. Among the lenders that haveexperienced a substantial increase inoverall mortgage origination satisfac-tion since 2009, overall satisfactionimproved an average of 35 indexpoints, and their collective marketshare has increased by nearly five per-cent. In contrast, among brands thathave declined substantially in satisfac-

tion from 2009 to 2011, satisfaction hasdropped 25 index points, and their col-lective market share declined by nearlyfive percent.

“In this current environment, theperception among some is that what’sgood for the customer isn’t necessarilygood for the lender,” said Lo.“However, we see a clear relationshipbetween a lender’s ability to deliver asuperior customer experience and therelative impact on higher loyalty,retention and advocacy.”

The 2011 U.S. Primary MortgageOrigination Satisfaction Study is basedon responses from more than 3,600customers who originated new mort-gages. The study was fielded betweenJuly and September 2011.

Your turnNational Mortgage ProfessionalMagazine invites you to submit anyinformation on regulatory changes,legislative updates, human interest sto-ries or any other newsworthy itemspertaining to the mortgage industry tothe attention of:

NMP News Flash columnPhone #: (516) 409-5555


Note: Submissions sent via e-mail are pre-ferred. The deadline for submissions is the1st of the month prior to the target issue.


new to market continued from page 35

we are providing appraisers with a broad-er view of the market and with the tools tomake the entire appraisal process moreefficient.”

NewDay AnnouncesEnhancements to Its FreeLO Training Programs

NewDay Financial, anational VA and reversemortgage lender, has

announced that it has enhanced its com-prehensive training program for loan offi-cers to better prepare them for the latestindustry and regulatory changes.NewDay’s training program is a six-weekregulatory training course that is com-pletely free for loan officers. NewDay paysfor required background checks, finger-printing as well as the cost of all fees andapplications.

“NewDay is committed to updating ourtraining program on a regular basis whetherit be legislative changes or just evolution ofthe industry,” said Chris Andrews, vice pres-ident of training for NewDay Financial. “Webelieve strongly in investing in our employ-ees, which is why we cover the costs associ-ated with all training and licensing. Newmortgage industry professionals who come

to work at NewDay say that the unparallelededucational and training program offeredby NewDay University gives them confi-dence in their abilities and deep industryknowledge.”

NewDay has a SAFE Act examination passrate of 93 percent, compared the nationalaverage of 61 percent. For state examina-tions, the pass rate of NewDay trained loanofficers is 96 percent, while the nationalaverage is about 74 percent, according tothe company’s research. NewDay licensesloan officers in 15 to 25 states.

“In the industry’s current and ever-changing environment, compliance isparamount,” said Paul Alger, president ofNewDay Financial. “NewDay Universityspecifically focuses on ensuring loan offi-cers truly comprehend the regulations andare able to provide the best quality serviceto our clients while consistently adheringto compliance requirements.”

DataQuick Unveils NewAppraisal and BPOReview Tool

DataQuick has an-nounced the release ofAppraisalQ, a new

appraisal and broker price opinion

(BPO) review tool. AppraisalQ evaluatesand scores valuations based on six crite-ria: Appropriateness of sales comps,sales comp adjustments, accuracy ofproperty value, accuracy of assumedmarket conditions, administrative accu-racy and potential fraud.

“AppraisalQ is the culmination of ourcompany’s three strengths—high-quality data, innovative analytics andautomated decisioning,” said JohnWalsh, president of DataQuick, “com-bined to meet our industry’s greatestdemand and possibly most detrimentalweakness in valuation evaluation.”

AppraisalQ enables clients to selectand weigh the criteria that are mostimportant to their business. Once theanalysis is complete, AppraisalQ pro-vides an overall evaluation of theappraisal or BPO, specific recommenda-tions to guide the review process, and afull audit trail to defend against futureclaims of under- of over-valuation.

“AppraisalQ does more than offer dataand numbers,” said Walsh. “The tool pro-vides specific recommendations to alenders review staff that are configurableto specific business requirements.”

New ISGN Plug-In Ensures Compliance With Fannie Mae’s LQI

ISGN Corporation hasannounced a MORvisionPremium Plug-In inte-

gration into Fannie Mae’s EarlyCheckservice, as service that automaticallyprovides loan level data checks to assistin identifying and correcting potentialdata issues early in the loan process andprior to loan delivery. Lenders using theMORvision loan origination system canaccess Fannie Mae’s EarlyCheck at anypoint in their business process, includ-ing closed loans in the secondary mar-ket before final delivery.

Fannie Mae’s EarlyCheck service, ini-tiated on Sept. 25, 2010 as part of theGSE’s Loan Quality Initiative (LQI), offersmultiple data checks that include: DUCompare (comparison of input loanapplication data with the data used inthe most recent DU submission); SocialSecurity Number checks; occupancychecks; address checks; unit numberchecks; DTI checks; loan limit checks;checks for required delivery fields; andother basic eligibility and data integritychecks. EarlyCheck provides lenderswith real-time, loan level results in for-matted user-friendly reports that high-light many loan eligibility issues thatneed to be corrected. It also helpslenders identify recurring quality issuesneeding to be addressed that can affectloan eligibility.

Fannie Mae’s EarlyCheck service,available through the MORvisionPremium Plug-in reduces delivery stopsand corresponding financial and opera-tional impacts. It can reduce loan fund-ing and pooling delays caused by uncor-rected loan delivery issues. It cuts downon manual resolutions of loan errorsduring the delivery process and afterthe loans are sold in the secondary mar-ket, saving lenders time and money.

“MORvision lenders will realize sub-stantial time savings from the MORvisionPremium Plug-In’s direct integration toFannie Mae’s EarlyCheck service, morethan if they tried to access the system ontheir own,” said Jason Cohen, seniordirector of product operations at ISGN.“The ability to access it from withinMORvision makes it easy for lenders toquickly verify the loan and then actaccordingly depending on the EarlyCheckresults. EarlyCheck allows lenders to catchdiscrepancies before they submit a loanto Fannie Mae, so by integrating the serv-ice directly, we’re giving our customersthe opportunity to speed up and stream-line the loan delivery process as well asreduce errors.”

Blueberry SystemsLaunches MobileDashboard App forSeamless Processing

Blueberry Systems LLChas announced thelaunch of RelayWatch

Mobile, a mobile application that pres-ents users a custom dashboard withsecure access to current mortgage pro-duction stats. RelayWatch Mobile uti-lizes the user’s corporate Relay data-base to blend information coming fromdifferent systems or sources to offerinformation in an actionable time-frame. It offers a global at-a-glanceview for anyone from executives, toproduction managers, to loan officers.RelayWatch Mobile is scalable for anyoperating system on any smart-device,including Apple iPhone and iPad,Android, RIM Blackberry and MicrosoftWindows Mobile.

“Working with Blueberry Systemsensures we always have access tosuperior data quality,” said BillBurke, chief information officer ofPlano, Texas-based Starkey Mortgage.“We share the goal of a more seamlessloan production process, and havingRelayWatch Mobile in our arsenal fur-thers this vision.”

Blueberry Systems’ flagship solution,Relay, offers a complete loan origina-tion system (LOS) to lenders, featuring auniversal data model, which providesthe most accurate loan production datain the industry. Contrasted with manyother systems that work off an outdateddatabase of record, the universal datamodel combines the various systemsand applications involved in the pro-duction process, eliminating data silosand the need for duplicate or staggereddata entry.

“Blueberry Systems is laser focusedon leveraging our mortgage DNA todeliver the very latest technology inthe most efficient, user-friendly waypossible,” said Lloyd Booth, presidentand chief operating officer ofBlueberry Systems. “RelayWatchMobile represents a continuation ofour commitment to improving theloan production user experience bydelivering better data managementsolutions to our customers, enablingthem to view loan data on demand, attheir convenience.”

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Foreclosure ResponseTeam Releases New SPOCCompliance Tool

Foreclosure ResponseTeam has announcedthe release of SimplorVersion 7.0 and SPOC

exponential, the latest and mostadvanced version of its default trans-action management software. Simplortechnology allows borrowers, titleagents, real estate agents, attorneys,servicers, investors, and regulators towork together via a single platform inorder to coordinate activities relatedto defaulted mortgage loans assuringnew regulations are met within themortgage industry. The company hashad the assistance of Default ServicingSolutions, Stewart Default Services,select Exit, RE/MAX and KellerWilliams Brokerages, as well as selectlocal title agents and law firms acrossthe country.

“We started developing our complexcopy written technology around a sin-gle point of contact for short salesalmost four years ago,” said ScottColoney, president and CEO ofForeclosure Response Team and soft-ware developer of Simplor technology.“A short sale is hands down the mostcomplex default transaction, so whendefault, loan modification and deed inlieu were added three years later inVersion 7.0, Simplor already had thecomplex foundation. The hard part hadbeen completed in versions 1.0-6.0.

Foreclosure Response Team is estab-lished and more than prepared to sup-port the implementation process withmortgage servicers.”

Simplor generates automated e-mail notifications delivered instantlyto all relevant parties, provides properusers with secure access to requiredforms and documents online, scoresindividual users for performance/turn-around time, and automates trackingof all document requests. All commu-nication, document collection, andprocesses are streamlined in individ-ual electronic files within Simplorenabling Single Point Processors towork efficiently while maintaining ahigh level of customer service andquality control.

Your turnNational Mortgage ProfessionalMagazine invites you to submit anyinformation promoting new “niche”loan programs, new products or anyother announcement related to theintroduction of a new program, to theattention of:

New to Market columnPhone #: (516) 409-5555


Note: Submissions sent via e-mail arepreferred. The deadline for submissions isthe 1st of the month prior to the targetissue.

National Mortgage Professional Magazinerecognizes the support of those Mortgage

Professionals who have stepped up to pay tribute to the men and women who have fought to

preserve freedom for our great country.

We will be featuring these Mortgage Professionals in our MortgageHeroes feature in National Mortgage Professional Magazine.

We want to hear from you if you:

� Make significant donations to any veteran's organizations

� Hosts or sponsors events recognizing and paying tribute to veterans

� Provides support for the families of veterans

� Any other noteworthy assistance to help improve the lives ofveterans and their loved ones

To be considered for Mortgage Heroes, visit

NMPMag.com/mortgageheroes.

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Scenes From the 2011 NAMB/WEST Loan Originators Conference

December 3-5 at the MGM Grand in Las VegasNAMB Director FredArnold (right) with MarkGreen of Top of MindNetworks (left) afterMark’s session onmarketing

Ron Kruger and Genny Cranefrom Freedom Mortgage

Ron Vaimberg from TheWarrior Sales Academydelivers his presentationon lead generation

Raymond Bartreau,Cody Bennett and John

Myler from Best RateReferrals were on handto discuss their product

offerings

Carl Markman,Tammy Conklin,Thomas Conklinand DonaldMagnuson fromReal EstateMortgageNetwork Inc.(REMN)

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Pursuing the Military Niche Market in 2012

By Beverly Ray Frase

In this current tight economy,you’re probably looking for busi-ness anywhere you can. It might

make more sense to look for under-served market segments and becometheir expert. A group that has beenoverlooked and is begging for help isour U.S. Armed Forces.

Simply understanding their lives,their language, and particularly, howto read their Leave and EarningStatement (LES), enables lenders tobuild a rapport with their militaryclients. Once you understand that,you can properly qualify your mili-tary client and guide them towardwhatever lending product makes thebest sense for them within currentmarket conditions, whether that’s aVeterans Affairs (VA) loan or someother product.

Veterans Affairs purchase mort-gages include a funding fee, whichcan add significantly to the transac-tion. The fee can be waived in itsentirety. However, if the veteran hasa service-related disability, this willresult in much less money that theveteran must bring to the closingtable. This simple and important facthelps make you the “Local LendingExpert” to this niche market.

Remember the original Soldiersand Sailors Relief Act of 1940? A newversion, the Servicemembers Civil

Relief Act (SCRA) was signed into lawon Dec. 19, 2003, amending andreplacing the original act of 1940. Ingeneral, the new act prohibits judi-cial proceedings against servicemem-bers during their military service, butthere are many more benefits aswell. SCRA rules can be absolutelycritical for servicemen and womeneverywhere, and you will indeed bethe respected “local expert” if youknow and share them whenever andwherever you can. All servicemem-bers have access to their militaryLegal Assistance Office (known as theJAG Office—Judge Advocate General)and this is the best place to referyour military clients who suspectthat their SCRA rights have been vio-lated, as there are state-specific lawsto consider as well.

JAG offices provide lease reviewsand a standard “military clause” tocover instances of Permanent Changeof Station (PCS), or if base housingbecomes available. This service isfree to military personnel and cansometimes be done by phone. Rentalcontracts vary dramatically. It is cru-cial to make sure there’s no clausethat waives SCRA rights. Some land-lords use such a clause that, oncesigned, relinquishes all SCRA rightsand often leads to hardship. Thiscould help with credit report issues

that need to be removedfrom the report. This isgreat news for the“Local Lending Expert”to deliver through a“lunch and learn”group.

As the “local lendingexpert” for your localmilitary community, tai-lor your marketingmaterials toward build-ing rapport through thelanguage and lifestyle ofthe client. Make it yourjob to know their rank,the acronyms that rep-resent their short-formlanguage, and whateverpertinent changes comealong for this segmentof borrowers.

Make it your busi-ness, literally, to follow currentevents around these borrowers. Notonly can you increase business inmilitary and retiree markets, this is agreat opportunity to generate posi-tive publicity in your local communi-ty. Announce any courses you com-plete with credentials earned to max-imize effectiveness in your niche. Byreading this article, you have justlearned five commonly-used serviceacronyms without missing a beat andthe rest of the military world is not sodifficult to understand either.

Our focus at USA Cares remains onour servicemembers’ daily assistanceneeds, but is mushrooming withrequests for the Certified MilitaryHousing Specialist Course (CMHS),which produces experts who aretrained and ready to provide skilledservice to their military clients. Ourhousing education course is availablefree non-linear, and for 2012, we’llbe presenting more live courseevents. Already well-received in sev-eral major cities to state and nation-al groups, we’re working on a nation-al initiative to have trained housingprofessionals available to militarypersonnel everywhere. Interest isincreasingly enthusiastic at federaland state levels, with industry andtrade associations and those who“get it” and want to give back insome way. Spring events are alreadypopping onto calendars.

This national initiative is critical inbringing information to the “bootson the ground,” those professionals

who are on the front-lines in helping militaryclients. Many more pro-fessionals are addingthis niche market totheir 2012 plan andeagerly taking the freetraining that certifiestheir ability and com-mitment.to helpingmilitary personnel.

This military housingeducation plan hasbeen germinatingawhile, and is nowflourishing with thespeed of a Kudzu Plant!Not familiar with theKudzu? It’s that beauti-ful, albeit invasive,creeping vine thatthrives in mostly south-ern areas. The Kudzu

grows a foot a day and experts advise“Don’t sit down next to a Kudzu vinefor long, or you may never be heardfrom again!” Interest in this under-served niche market is thriving muchlike the Kudzu, and we are morethan happy to provide this addition-al effort to “give back” to those whoserve and protect us all.

The year 2012 is expected to be“the year of the short sale,” and weknow it has already begun. Our edu-cation events will often include thistraining, particularly in military-heavy areas. Our regional and stateCMHS coordinators are disseminatinginformation to every quadrant of theUnited States where this free infor-mation/certification is available toensure this valuable niche market isproperly served.

The mortgage industry is practi-cally reinventing itself and you cando the same. Narrow your businessto a market you enjoy and conquerit. There’s a good chance your mili-tary clients will have nowhere else toturn but to you.

Beverly Ray Frase is a former loanofficer, real estate broker and Armywife. She has written a coursedesigned to provide a clear under-standing of how to work with militaryclients, funded by a grant from FannieMae and sponsored by USA Caresavailable online at USACares.org byclicking on the “Education” tab. Shemay be reached by e-mail [email protected].

“… follow currentevents around theseborrowers. Not only

can you increase busi-ness in military and

retiree markets, this isa great opportunity togenerate positive pub-

licity in your localcommunity.”

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A Special Look at

Growth Strategies2012for

Keeping Your Edge in 2012By Erik Wind

I’ve written previously onhow by the time the hol-idays are here, the year

has already ended. It’s thetime to spend time withfamily, friends and thosebusiness relationships wereally appreciate. But, itcan also be a time forreflection, goal-setting andplanning for the new year.

The year 2012 is going tobe a great challenge formany of us. Lending guide-lines are changing fasterthan ever, while foreclo-sures and short sales aren’tgoing away any time soon.The following areas are twoof the biggest challengesoriginators can face nextyear. By being prepared,you can turn these adversities into oppor-tunities while others continue to struggle.

Dealing with changing guidelinesThere’s often a significant period of timebetween when a borrower gets pre-quali-fied and when they actually apply. Sinceguidelines are changing frequently, origi-nators often find themselves getting con-tacted by those who were pre-qualifiedweeks or months ago, and being forced totell their would-be borrowers that the pre-qualification is no longer valid. This canlead to mistrust between the borrower andoriginator and a setback to the borrowerwho may have been ready to move on areal estate transaction.

By diligently keeping in touch with bor-rowers whom you pre-qualified, you caninform them of these guideline changes onyour terms, rather than reacting to themwhen the borrower comes back to you.With this strategy, the perception changesfrom mistrust and frustration, to a mort-

gage professional who isstaying on top of theirpipeline. The borrowers willappreciate your initiative.

Educating your referral networkIn addition to your prob-lems, real estate agents inyour referral network willhave their own set of chal-lenges to deal with, particu-larly when it comes to shortsales. If it’s their problem,then it’s your problem too.

Stay one step ahead ofthe changing short sale andreal estate landscape. Don’texpect real estate agents toknow what they have toknow to close a short salesmoothly. If you can edu-

cate your agents on how to easily close ashort sale, they can close more business;leading to more originations for you.

Victor Pascale of Continental HomeLoans spends considerable time to educatehis real estate agents on the short saleprocess.

“I can only imagine how much com-missioned real estate agents would havelost if I wasn’t there to help them with theirshort sales,” said Pascale.

Victor gets his real estate agents theeducation and tools they need to makeshort sales just another transaction.

While it’s never bad to be proactive,2012 will be a year where taking the initia-tive to educate your referral network andprovide them with resources to makemore money will pay dividends through-out the year.

Erik Wind is co-founder ofShortSaleSpeedway. He may be reached byphone at (516) 882-6930 or e-mail [email protected].

“2012 will be a yearwhere taking the ini-

tiative to educate yourreferral network and

provide them withresources to make

more money will paydividends throughout

the year.”

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A View Into 2012: Looking BackBy Erik Wiley

Much like today’sother survivingi n d e p e n d e n t

mortgage originationfirms, Pacific ResidentialMortgage LLC (PRM) hasendured the businesschanges, housing environ-ment correction and com-pliance overhaul thatour entire industry hasexperienced over thepast five years. Whilethis has not been with-out pain or sleeplessnights, we did it withoutchanging our overallbusiness philosophy andonly slightly altering ourgeneral business plan.Necessary course correc-tions are continuallybeing made and should be. Fromthese changes, we have learned howto adapt to current conditions andturn a profit from less-funded vol-ume, all the while, staying focusedon our loan originator/employee-centric, relationship-driven referralmodel.

As a point of reference, our firmoperates in four states with a staff ofapproximately 130, half of which arefull-time loan originators (LOs). Weare a purchase-oriented operationand we earn almost all of our busi-ness off of referrals from past clientsand real estate professionals. Thisbusiness strategy hasn’t changedover the course of our seven yearsand will remain the basis of ourbusiness model going forward into2012.

Bending, but not breakingThe purchase side of the referral-based model of our business took abeating these past few years. As refi-nances ebbed and flowed, we discov-ered that too many of our originationstaff had let their purchase businessdeteriorate. The causes for this vary.Refinances were the low-hangingfruit. Online lenders and bigbanks/servicers effectively competedfor refinances and even purchase

business by efficientlytargeting their existingcustomer base. Long-term relationships withRealtors yielded dimin-ishing results, asRealtors themselvesexperienced a slow-down or left the busi-ness. Some experiencedRealtors made the shiftto real estate-owned(REO) listings. Clientsthat haven’t shopped usin the past starteddoing so. And thenthere ’ s the med iareport ing that inde-pendent mortgagecompanies were unsafeand unscrupulous andthat banks and credit

unions are the secure lendingresources. Politicians vilified“mortgage brokers,” while at thesame time, demonstrated that theydidn’t understand the home loanprocess or consumer behavior inthe slightest.

Rather than allow these issues tobreak us, our 2011 business planfocused on recruitment of qualityoriginators and processing staffwith an eye to maintaining prof-itable levels of production. We alsofocused on the sustained employ-ment of our sales support staffwhich includes our corporate, mort-gage banking, IT and marketinggroups. I mention this becausemedium- and large-sized companiesneed to have significant structure inplace in order to successfully oper-ate as a mortgage banker while sup-porting LOs. Today’s higher costs oforiginating a closed loan, plus thecompliance and quality control (QC)overhead that goes along with dailyoperations, is much more expensivethan in the past. All of thesechanges mandate that LOs receiveincreased company support, noneof which is available for free or easyto come by.

Our overall 2012 plan will focus

“Face-to-face communication is

the way to go if youexpect to earn referredbusiness. This means

literally getting face-to-face with

consumers so thatthey become clients.”


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on organic internal growth, whileselectively adding origination stafferswho share our way of doing business.This organic growth plan has alreadybeen put in place and will be refinedin 2012 to address business condi-tions.

The game has changed …or has it?A lot of people in and around ourindustry describe today’s market-place as very different from whatthey consider a “normal” market-place. It’s true, today’s loans areharder to find and harder to fundthan in any time during most of ourcareers. Then again, 2005 was notnormal and neither was 2003. Infact, it hasn’t been normal any timesince 1998 when our industryembraced credit scoring and auto-

mated underwriting engines (AuntFannie and Uncle Freddie haveprobably been regretting the initia-tives they pushed upon us backthen).

So what was normal? Normal waswhen a loan originator had to fullydocument a consumer’s income andassets and then fully verify that doc-umentation. Appraisals were per-formed and underwriters actuallyscrutinized those appraisals.Federal Housing Administration(FHA) loans required FHA inspec-tions. Lenders were careful in hand-ing out hundreds of thousands ofdollars and they actually expectedto be paid back in full. Debt ratiosabove 36 or 41, depending upon theloan type, required teeth-pulling inorder to receive loan approvals. Weare still looser today in many of

these categories than when I gotinto the home loan business 17years ago.

Normal was also when, in a pur-chase-oriented marketplace, LOsactually had to go out and “originate”a loan. Personal relationships wereessential and quality service was key.

The game itself really hasn’tchanged. What has changed is how weall will individually focus on the “nor-mal” of how loans are originated.

Getting up close and personalIn focusing on what we see as “nor-mal” and “essential” for business in2012, PRM will emphasize havingour entire sales team be face-to-faceoriented instead of conducting busi-ness through other more passivemeans. Our management team isengaged in coaching calls and livemeetings with our mortgagebankers, not as micro-mangers, butas team leaders to enable individualsuccess, but that is not enough. If weare asking our sales team to main-tain this type of behavior then we, asmanagement, must also lead byexample. Effective sales managerscan no longer be passive—they musttruly manage sales and sales-relatedactivity, as their titles suggest. Thiscreates a sense of accountabilityfrom the top down that is necessaryto compel originators to step out oftheir comfort zone and get into awin-win mindset.

Face-to-face communication isthe way to go if you expect to earnreferred business. This means liter-ally getting face-to-face with con-sumers so that they become clients.It means wearing out the rubber onyour soles and your tires to get infront of referral sources such asRealtors and other real estate pro-fessionals. There is no substitute forfrequent face-to-face interaction ifyou intend to create long-lastingand profitable relationships.Salespeople and their managementneed to practice this method asoften as possible.

If you cannot be face-to-face, thephone is the next best communica-tion option for sustaining and build-ing relationships. It is still you com-ing through on a live and personalbasis versus something less personallike an e-mail, a text, a blog or some-thing similar. Disciplining yourself to

have someone regularly hear yourvoice, even if they cannot see youlive and in person, will make a dif-ference over those who don’t get up-close and personal.

Refinances are not where professionals put their energyHere today, gone tomorrow … myfirm’s long-range view has been thatrefinances will diminish in 2012.Given that view, a year ago, we chan-neled energy to expand our pur-chase-business. Ask yourself the fol-lowing, “If rates go to six percent,what happens to my pipeline?” Behonest with your answer. That’s whatwe did and we didn’t like what wesaw. Today, thanks to hiring outsidesales trainers while performing ourown internal sales coaching, we areachieving our goals with strongersales results due to LO buy-in. Simplystated, this sales-focused develop-ment activity works.

Picking up dollars andstepping over nickelsWe all know it is extremely difficultto predict mortgage loan volumeover the next 12 months. This realitynecessitates that our revenue andexpense structure be flexible in orderto handle less volume or to supportincreased volume. Over the years,our firm has made continualenhancements in this regard and willcontinue doing so going forward. Wealso know that spending money ondeveloping future sales isn’t tied justto just running ads and circulatingproduct flyers—these are supportelements in our marketing platform.Investing money, appropriately, toenhance our client experience, tomake loan origination more effi-cient, and to further develop astrong, relationship-driven salesforce able to originate loans, will allbe key to our success in 2012 andbeyond.

Eric Wiley is chief operating officerand co-founder of Pacific ResidentialMortgage LLC. He has served on theboard of the Oregon Association ofMortgage Professionals (OAMP) and isan active member of the OregonMortgage Lenders Association (OMLA).He may be reached by phone at (503)905-4902 or e-mail [email protected].

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A Special Look at


Building a Team for Growth in 2012

By Leif Boyd

We are about to say goodbye to2011 and welcome in 2012.Over the last year, the mort-

gage industry has gone throughnumerous changes, most notablycompensation reform. Now that thedust has begun to settle, it is time toplan a growth strategy for next year.Building an origination team andusing the right tools can have a posi-tive impact on your company’s bot-tom line.

Knowing when to growKnowing when to grow is just asimportant as knowing how to grow. Itis important to understand the needto invest in your business and spendmoney in order to make money. Byinvesting resources in new hires, acompany can make money over time.Strategic hires allow branch managersand bankers to focus on what they aregood at and offload tasks otherstaffers can handle. Banking industryreform in 2011 created additionalprocesses on the path to getting aloan approved. These processes taketime and effort, detracting from newbusiness development. With a staffon-hand, senior management canhave the support they need so theycan focus on prospecting and buildingtheir business.

Know the stepsBefore hiring for the sake of hiring, amanager should develop an outline ofthe process of closing a loan frombeginning to end. Every mortgagebanker has a different process thatworks for them. I detailed a 65-stepprocess and identified which steps Ihad to do and which steps I could hireothers to do. Delegating a portion ofthe process gave me free time to buildmore relationships and put moreloans in the pipeline. I found that Icould hire employees to accomplish65 percent of the work, and I couldkeep 35 percent, freeing me up togrow my business.

Know who to hireThere are two basic philosophies onhiring after you determine what you

need. You can hire the best all-around candidate, or you can hirethe best person to do certain tasks inyour process. I decided to hire ateam of three individuals who couldcomplete certain tasks within theprocess I had developed. These peo-ple were each highly skilled, willingto learn and motivated to succeed. Iknew that once they were trainedand well-versed in their responsibili-ties, they would thrive and mybranch would increase the numberof loans closed.

Know how to train and manageOne of the most important things toremember is that micro-managingwill not lead to increased productivi-ty. You should hire a staff that can betrusted and empowered to do theirjob, knowing they will make mis-takes in the process. Ask yourself,“How controlling am I?” The high-touch, high-value tasks shouldremain with the senior person tomitigate long-term damage, but theother tasks should be delegated totrained staff.

Know the rewardIt is sometimes difficult to rememberthe old adage, “It takes money tomake money,” especially in a timewhen finances are tight. However,when a loan originator hires staff,their branch will become more pro-ductive. This is exactly why theassembly line was started and con-tinues to be an important part of ourmanufacturing industry today. Itallows staff to focus and specialize ina particular area. No one needs to bean expert at everything—they justneed to be the best at the tasks theyare given. Once I hired and trainedmy staff, I went from closing three tofour loans a month to more than 20a month. The first assistant I hirednow runs the branch I started and isone of the top mortgage bankerswithin my firm. Had I not realizedthere would be a reward for spend-ing the money to hire staff, I wouldstill be working long hours, but

would not have attainedthe success I see today.

Know the toolsBeyond hiring morestaff, there are certaintools that can increaseproductivity, simplifytasks and help realtorsand customers to chooseone loan originator overanother. There are threebasic tools that everyloan originator shouldbe able to access:Fulfilled marketing sup-port, customer relation-ship management soft-ware and lead genera-tion technology.

Fulfilled marketing supportMy firm creates andsends loan originators all of the mar-keting materials they request. Whenan LO asks for materials, our teamdevelops a custom marketing pieceand sends out a digital file to theoriginator. The file can then be print-ed or e-mailed to prospective andcurrent clients.

Customer relationshipmanagementUsing a quality customer relationshipmanagement database can deter-mine the difference between havingsolid repeat business and losingclients after just one sale. This data-base allows LOs to track every mar-

keting piece that theclient has seen, checkon the status of loansand look back at thedate each meeting tookplace.

Lead generation technologyMy firm, American PacificMortgage, uses a propri-etary lead generation sys-tem, APMConnect. Thissystem lets loan origina-tors access relevant dataand connects them withappropriate industrypartners to develop newleads.

Knowing the steps ittakes to build a relation-ship and close a loan, hir-ing the right team and

using the right tools allows loan origi-nators to be more successful. It takeseffort to succeed, and having a team tohelp complete the steps and utilizingthe right technology can help a seniormanager build toward that success.

Leif Boyd is senior vice president ofproduction for American PacificMortgage. Since joining AmericanPacific Mortgage, Leif has taken anactive role in overseeing all aspects ofmortgage origination, including theoversight of the production depart-ment and 114-plus branches. He maybe reached by phone at (916) 960-1325or e-mail [email protected].

“One of the mostimportant things to

remember is thatmicro-managing willnot lead to increased

productivity. Youshould hire a staffthat can be trusted

and empowered to dotheir job, knowing

they will make mis-takes in the process.” 43


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MARK YOUR CALENDAR FOR THE RETURN OF THE

PREDICTIVE METHODS CONFERENCE

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The Predictive Methods Conference, PMC and Veros are registered trademarks of Veros Software. ©2011 Veros Software - All rights reserved.

A Special Look at


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(877) [email protected]

CB Malaga Insurance Services LLC......877-245-5887Insurance broker providing errors & omissions (E&O)insurance to mortgage brokers and bankers. All loan types.Available in 22 states. www.CBspecialty.com

Best Rate Referrals ............................................800-811-1402Mortgage marketing company with decades of combined expe-rience providing quality leads, mailers, lists and dialer products. www.bestratereferrals.com & www.mortgageleads.org

Contact Management/CRM

LoyaltyExpress, the leading mortgage marketing company in thenation, delivers high-impact marketing that substantially increasesproduction levels. Direct mail, e-mail, and intelligent alerts arecombined to deliver unprecedented results. Learn more today.

LoyaltyExpress877.938.1175

[email protected]

Continuing Education

NMLS approved 20 hour Prelicensing EducationNMLS approved Continuing EducationLive Classroom Instruction, Web Delivery and Private EventsThe SAFE-Smart ExamCram, Powerfully Innovative Test Prep

Abacus Mortgage Training and EducationPO Box 780

Summerfield, NC 27358888-341-7767 • www.GetYourEd.com

Time is running out...are you ready?

Pass the S.A.F.E. Act Test, meet your 20 hours of Pre-licensure,and complete the 8 hours of Continuing Education you need

• The Ultimate Test Prep Kit and Test Prep Boot Camps – Covereverything to pass the S.A.F.E. Act Test — on your first try.

• 20-hour Pre-licensure - Packed with everything to successfullycomplete your pre-licensure requirements.

• Continuing Education - Exciting, NMLS approved courses thatmeet your Continuing Education needs and build your business.

MSS Learning Center(800) 963-1900

www.MortgageSuccessSource.comEmail: [email protected]

Events

“The Expo for Real Estate Professionals"For ongoing Networking Events throughout the year please visitwww.nycnetworkgroup.com.

NYC Real Estate Expo LLCAnthony Kazazis - Director

[email protected] • www.nycrealestateexpo.com646.210.2545 • 914.763.8008

FHA Audit and Licensing

First National Compliance Solutions Inc.1-800-400-4134

www.firstnationalcompliance.comBonnie Nachamie & Jonathan Pinard have assembled a team ofexperts to assist Mortgage Brokers, Mortgage Bankers, Federaland State Chartered Banks & Credit Unions with their mortgagecompliance needs.

Hard Money/Private Lending

ACC Mortgage, Inc.932 Hungerford Drive #6 • Rockville, MD 20850

240-314-0399 • 240-314-0336 faxWeApproveLoans.com

We are doing traditional subprime lending, fix & flip lending andhard money lending.

Windvest Corporation ............................877-285-0777Specializing in rehab loans for property investors in So. CA.Up to 60% ARV, 12.99% fixed rate, 3.5-5 points, 1 yr. term.Fast & professional service since '94! Visit windvestcorp.com!

Franchise

LenderCity Home Loans888.880.2489

www.LenderCity.com

LenderCity Home Loans is now offering individual franchises. Thisis perfect for the L.O. who has always wanted to open their ownbrokerage but didn't know how. Benefits include:

• Growing with a recognized brand

• Local and National marketing and advertising

• Online search engine marketing

• More aggressive lender pricing based on volumeincentives

• A proven system that generates more revenue thanaverage broker shops

• Ability to retain your license, existing corporation, andautonomy

• Lead generation

• Processing and closing services also available

Call 888-409-9770 ext 4, to register your company.

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Leads

Leads

Our network attract over one million visitors per month. Our paidlead program as well as our free lender directory will help you con-nect with targeted new consumer traffic from with high-intent con-sumers searching online for the right mortgage lender.

MortgageLoan.comSM

www.mortgageloan.com • 877-390-4750MortgageLoan.com is the largest online directory

for mortgage professionals and a favorite of consumers shopping for mortgage loans.

AAA Refi Leads.....AAA Refi Leads.....AAA Refi LeadsLearn how I went from failure to success by mailing cheap refiletters from home, closed 71 loans & made $248,954.62 last yr.I’ll show you exactly how I did it. Go to: www.Refi-Leads.NET

Income Verification Services

Advanced Data (800) 537 - 0458

[email protected]

Advanced Data is a leading national provider of data services,streamlining income and employment verification with proprietarysoftware. Clients can submit 4506-T directly through Encompass360.Also ask about our AVM and flood services!

Loanbright helps mortgage companies capture and close morebusiness through its marketing and software tools. An INC. 500awardee, Loanbright has helped thousands of companies since1999 by providing them with well over 3 million qualified sales leads.

Loanbright27902 Meadow Drive, Suite 375

Evergreen,CO 80439866-391-2709 • www.Loanbright.com

Reach affluent and creditworthy consumers who are in-market andready to transact. Bankrate is a consumer direct Web site, NOT alead aggregator. Qualified leads for every sized budget, and payonly for performance. No set up fees! No contracts! No risk!

• Reach self directed, highly qualified consumers that are activelysearching for mortgage loans• Geo-targeting – reach the right consumers in the right markets• Our proprietary Advertiser Portal gives you complete controlover your campaigns, budgets, and performance reports.• YOU determine your daily/weekly/monthly budget• Pay only for consumers who click on your listing• NO cancellation fees

Try us risk-free! Call 561-630-1257or visit www.bankrate.com/cpcprogram/ for more details.

Internet’s Leading Consumer Mortgage MarketplaceAttracting over 8 million unique

consumers every monthwww.Bankrate.com • 561-630-1257

Loan Origination Systems

Calyx Software, the #1 provider of mortgage solutions is dedicatedto offering reliable and affordable software that streamlines, inte-grates and optimizes the loan process. Find out how PointCentralcan streamline your business and create compliant processes today.

Calyx Software 800-362-2599

[email protected] www.calyxsoftware.com

Mortgage Forms

• HUD Settlement Cost Booklets• CHARM Booklets• Uniform Residential Loan Applications• HUD Case Binders

www.LendingForms.comSame Day Shipping (orders placed prior to 3pm et)

24/7 Secure e-Commerce SiteSave 33-50%

Income Verification Services

Platinum Credit Services, Inc.................631-299-2084Tax return vertification (4506 tax transcript done in less than24 hours in most cases). Call Lorenzo Pugliano, Presidentand CEO at 631-299-2084.

Regulatory/Compliance

Comergence Compliance Monitoring is the mortgage industry’s onlyComplete broker desk management software and outsource solutionfor TPO management and monitoring. We can supplement lenders in-house management and monitoring resources departments.

Comergence Compliance Monitoring, LLC630 The City Drive South, Suite 205 • Orange, CA 92868

Office: 714-740-9000 www.ComergenceCompliance.com

Are you a broker/owner or current branch manager looking toexpand your business into Mortgage Banking with FHA capabilities?Then our PARTNER BRANCH ADVANTAGE© program is perfect foryou. We are offering you all the benefits of partnering with an estab-lished lender while still enjoying your independence. US MortgageCorporation is a nationwide FHA Direct Lender with a 16 year longreputation of excellence.

YOUR SUCCESS IS OUR SUCCESS!

For more information contact THOMAS R. SIRICO, VicePresident of Business Development at (917) 923-1472 or emailat [email protected].

We look forward to sharing our services with you!

(800) LOANS-15www.usmortgage.com

Retail Branch

#1 USDA RD lender in multiple states with strong FHA/VA/CONVproduct lines as well. Don't be held hostage by a captive brancharrangement. Bank it or broker it. Have a business name/identityyou don't want to give up? We allow DBAs (subject to state rules).

Polaris Home Funding Corp.616-667-9000

[email protected]/timeforachange

Reach affluent and creditworthy consumers who are in-market andready to transact. Bankrate is a consumer direct Web site, NOT alead aggregator. Qualified leads for every sized budget, and payonly for performance. No set up fees! No contracts! No risk!

Founded in 2005, Best Rate Referrals has grown into one of thefastest growing marketing firms in the nation. By combining newtechnology with traditional direct marketing methods that produceprofitable results.

Best Rate Referrals is the direct marketing leader in the mortgageand banking industry.

• Mortgage Direct Mail & List Services• Mortgage Live Transfers• Mortgage Internet Leads• Mobile Marketing

Best Rate ReferralsThe Leading Direct Marketing Company

for Mortgage Professionals800-811-1402 • www.bestratereferrals.com

Sign-on weekly at nmpmag.com/lykkenonlending

The Lykken on LendingR A D I O P R O G R A M

Wholesale/Residential

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Wholesale/Residential

Wholesale/FHA

Icon Residential, a wholly owned subsidiary of Grand Bank N.A.,is one of the nation’s leading Conforming, Jumbo, FHA and VAwholesale lenders. Our strength, success and longevity isderived from delivering customers service that exceeds ourvalued business partners expectations. With deep industryknowledge, financial stability and innovative technology weprovide the solutions for our business partners to fund loanswhile avoiding risk.

• Direct Access to Underwriters• Competitive Pricing• Innovative Technology• Paperless Solution• Bank Funding

Icon Residential Lenders(888) 247-4207

www.iconwholesale.com

Wholesale Reverse Mortgages

Veros Real Estate Solutions is a premier technology leader in the mort-gage industry and proven leader in enterprise risk management andcollateral valuation services. Veros combines the power of predictivetechnology and data analytics for advanced automated solutions.

Veros Real Estate Solutions2333 North Broadway, Suite 350 • Santa Ana, CA 92706

(866) 458-3767www.veros.com • @verosres (Twitter)

• Arizona • Nevada • Texas • California • New Mexico • Utah• Colorado • Oregon • Washington

88 Kearny Street, 3rd FloorSan Francisco, CA 94108

Phone: (415) 632-5150 • Fax: (925) 226-1938www.bayeq.com

Now Wholesale Lending in:

Wholesale/Correspondent

BankFinancial ..........................................800-894-6900 We have money to lend for apartments, $250M to $2MM, up to75% LTV. We offer competitive rates, fees & terms. We’re com-mitted to helping you and your clients close the deal. Call us.

AMX/Land Home Financial ..................800-349-4172 AMX/Land Home Financial Services Wholesale LendingDivision - Great Rates, Great Programs, Great Service.Offering financing options that work in today's market. • Paperless! Quick and Easy!

• Top Tier Account Executives• Committed to Wholesale• Operations that Earn Your Business

TMSfunding Wholesale Lending326 W Main Street • Milford, Ct. 06460

888.371.2989 • WWW.TMSFUNDING.COMYour Partner in Success!

We offer competitive pricing and fast turn-times for FHA, VA,Conventional, and USDA programs without having a retail pres-ence in the industry. We are a wholesale lender with 22 years ofexperience and believe in exceptional service.

Terrace Mortgage4010 W. Boyscout Blvd., Suite 550

Tampa, FL 33607866-934-4631 • www.terracemortgage.com

CBC National Bank is one of the nation’s fastest growingwholesale lenders offering Conventional, FHA, VA, and USDA.The most important aspect of being a leader in today’s market isthe ability to build and maintain a meaningful relationship witheach customer. We understand that these meaningful relation-ships coupled with competitive pricing and efficient technologyare the pillars of today’s lending environment.

We are now hiring Account Executives in AL, TN, KY, VA, & MD.

Contact Stu Ehrlich in our HR department at

[email protected] for further details.

Big Enough to MATTER…Small Enough to CARE

CBC National Bank3010 Royal Boulevard South, Ste. 230

Alpharetta, GA 30022888-486-4304

If your ad was here, you would be seen by

191,181 MortgageProfessionals looking

for resources to help themin their business.

The Resource Registry is a directory of lenders(wholesaler or retail thatare recruiting), affiliatedservices and resources

that is seen by more than 191,181 active

Professionals.

Call 888-409-9770 ext. 4to register your company.

Bookmark this!Access these listings

online atnmpmag.com/directory_list

Flagstar Wholesale Lending, a division of Flagstar Bank, is one ofthe nation’s largest wholesale and correspondent mortgagelenders, providing the technology, products, service and supportthat independent mortgage brokers, correspondents, and bankersneed in today’s mortgage arena. In the ever-changing environ-ment of mortgage banking, Flagstar takes pride in accommodat-ing the specific needs of each customer. At Flagstar, we under-stand that you need every available advantage to stay ahead ofthe competition. This is why we provide multiple technologyoptions to meet your needs to register, lock, underwrite, close,fund and deliver your loans. Our wholesale website(wholesale.flagstar.com) and the loan processing tool Loantracprovides our customers with the functionality that make it easierand faster to close loans, saving you time and money! Visit whole-sale.flagstar.com to learn more.

Flagstar Wholesale Lendingwww.wholesale.flagstar.com

(866) [email protected]

For Licensed Mortgage Brokers in NY, NJ, CT, PA and FLNo HUD Approval Required – Live Help DeskWill Provide Training at Our Office or Yours48 Hour Underwriting - Get Paid Within 48 Hours of Funding

NATIONWIDE Equities

Nationwide Equities Corporation201-529-1401

www.nwecorp.com

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JANUARY 2012Monday-Friday, January 23-27

MISMO January 2012 Trimester Meeting

One Ocean Resort Hotel & Spa1 Ocean BoulevardAtlantic Beach, Fla.

For more information, call (800) 793-6222 or visit

MortgageBankers.org.

FEBRUARY 2012Sunday-Wednesday,

February 5-82012 CREF/Multifamily Housing

Convention & ExpoAtlanta Marriott Marquis

265 Peachtree Center AvenueAtlanta



Tuesday-Friday, February 21-24

The Mortgage BankersAssociation’s 2012 National

Mortgage Servicing Conference & Expo

Orlando World Center Marriott8701 World Center Drive

Orlando, Fla.For more information,

call (800) 793-6222 or visitMortgageBankers.org.

MARCH 2012Sunday-Thursday, March 11-1529th Annual Regional Conferenceof Mortgage Bankers AssociationsTrump Taj Mahal Casino Resort1000 Boardwalk at Virginia Avenue

Atlantic City, N.J.For more information,

call (732) 596-1619 or visit MBANJ.com.

Wednesday, March 14Florida Association of MortgageProfessionals Broward Chapter

2012 Annual Trade ShowBroward County Convention

Center1950 Eisenhower Boulevard

Ft. Lauderdale, Fla.For more information,

call (850) 942-6411 or visit FAMB.org.

Thursday, March 29Maryland Association of

Mortgage Professionals 2011March Mortgage Madness

ConventionMartin’s Crosswinds

7400 Greenway Center DriveGreenbelt, Md.

For information, call (410) 752-6262,

or visit MDMtgPros.org.

APRIL 2012Wednesday-Thursday,

April 18-192012 National Policy Conference

Hyatt Regency on Capitol Hill400 New Jersey Avenue Northwest

Washington, D.C.For more information,

call (800) 793-6222 or visitMortgageBankers.org.

Sunday-Wednesday,April 22-25

2012 National Technology inMortgage Banking Conference

& ExpoArizona Biltmore

2400 East Missouri AvenuePhoenix



To submit your entry for inclusion in the National Mortgage ProfessionalCalendar of Events, please e-mail the details of your event, along with

contact information, to [email protected].

Sunday-Wednesday, April 22-25

2012 National Fraud IssuesConference

Arizona Biltmore2400 East Missouri Avenue

PhoenixFor more information,

call (800) 793-6222 or visit MortgageBankers.org.

MAY 2012Sunday-Wednesday, May 6-9

2012 National Secondary MarketConference & Expo

New York Marriott Marquis1535 BroadwayNew York, N.Y.

For more information, call (800) 793-6222

or visit MortgageBankers.org.

Friday-Wednesday, May 18-232012 Mortgage Bankers

Association of Georgia EducationForum & Expo

Sandestin Hilton Golf Resort & Spa

4000 South Sandestin BoulevardDestin, Fla.

For more information, call (478) 743-8612 or visit MBAG.org.

Sunday-Wednesday, May 20-232012 Commercial/Multifamily

Servicing & TechnologyConference

Hilton Anatole2201 North Stemmons Freeway

DallasFor more information,

call (800) 793-6222 or visit MortgageBankers.org.

Sunday-Wednesday, May 20-232012 Legal Issues/Regulatory

Compliance ConferenceLa Quinta Resort & Club49-499 Eisenhower Drive

La Quinta, Calif.For more information, call (800)

793-6222 or visitMortgageBankers.org.

JUNE 2012Sunday-Wednesday, June 3-6Mortgage Bankers Association’s

2012 Chairman’s ConferenceThe Breakers

1 South County RoadPalm Beach, Fla.



OCTOBER 2012Sunday-Wednesday,

October 21-24Mortgage Bankers Association

99th Annual Convention & ExpoThe Hyatt Regency

151 East Wacker DriveChicago

For more information, call (800) 793-6222

or visit MortgageBankers.org.

Become a NationalMortgageProfessional.com Blogger! It's free and easy. Just head on over to NMPMag.com, register and

follow the link in the upper right hand side of the page to become a blogger on our site today!

Got an opinion? Want to share yourthoughts on the industry?

Undercove

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Major EastTexas Mortgage F

raud Scheme: Out of Florida

203(k) Rehab Loan Program: Foreclosures Present Challenges, OpportunityNMLS and State Testing for Mortgage Professionals

NATI

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MAGAZINE

NMPNMP

Looking for: TOP PRODUCERSCal l for Detai ls!

T he BEST B ranch Solu t ion, Period.

Nationwide FHA Lender

This information is provided to assist business professionals and is not an advertisement extended to the consumer,as defined by Section 226.2 of Regulation Z. Freedom Mortgage corporate office is located at: 907 Pleasant Valley Ave. Suite 3, Mount Laurel, NJ 08054. Lender NMLS ID: 2767. Licensed by the NJ Department of Banking and Insurance, License #9100861. All Rights Reserved. EOE

www.Fmbranch.com800.220.9498

[email protected]

Some restrictions may apply. All borrowers are subject to credit

approval. Programs subject to change. The information provided

herein is for dissemination to and for the use of real estate and

financial business entities only and is not an advertisement for

the extension of credit to consumers.

© 2011 Flagstar Bank

http://paperless.flagstar.com

OHMP_december11

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