LenderNews by Rob Chrisman
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Oct. 2: LO jobs; DPA, recruiting products; FHA 203(h), digital marketing, CFO, mortgage pricing events

October 2, 2018

“Stay away from negative people. They have a problem for every solution.” There are plenty of folks out there reminding lenders of the seasonality of residential lending. But in places like Phoenix lenders look forward to winter since it’s their peak season. On the lending side, do you work for a non-depository lender? Or compete with one? If so, and I’ve mentioned this before, you may want to read this research piece on the risks, and strengths and weaknesses, of non-bank lenders. Hint: watch out for rising rates and declining home prices – which is exactly what we’re seeing in some areas. But knowing the risks is critical to reducing them.
 
Jobs & promotions
 
GSF Mortgage Corporation announces it has selected award winning technology provider PromonTech as vendor of choice for its point of sale lending portal solution. By partnering with PromonTech, GSF Mortgage Corporation will deliver a more modern and exceptional experience for customers. Implementing this new, all-in-one portal for customers to use during their mortgage process, provides a consistent, intuitive and collaborative experience on any device. The originator experience is also upgraded. The new pipeline manager and borrower collaboration tools streamline our processes and brings our sales team closer to their customers with less effort. Interested in a retail opportunity? Contact Chad Jampedro.
 
“Close more loans with the same amount of effort.” That’s what Assurance Financial has been offering branch managers and top producing loan originators for 17 years. If you feel stuck and don’t have the service environment you are promised, maybe it’s time you consider a change. Assurance Financial is a growing private residential mortgage banker with offices throughout the South, East Coast, and Midwest US, and we may be just what you’re looking for. Contact Paul M. Peters, CMB (225-939-6353) for a confidential discussion today. 
 
LoanCare, a ServiceLink Company, announced that Anshul Aggarwal is its SVP and chief risk officer while John Baker has assumed the role of SVP of investor accounting, cashiering, and bank reconciliations. “In those executive leadership positions, Aggarwal will lead LoanCare’s risk management, auditor relations, quality control and compliance initiatives as well as identify, measure, monitor and control risk. Baker will lead LoanCare’s quality assurance processes and compliance with all investor, insurer, client and LoanCare procedures, requirements and guidelines.”
 
Lender products & services
 
Home search has increasingly become the common denominator amongst consumer-direct lending giants to providing consumers an end-to-end home buying experience. HomeScout® National MLS pioneered the first-of-its-kind online real estate marketplace where consumers can find a home and get preapproved in one platform: while providing lenders a buyer reporting interface to help monitor buyer activities up to their point of sale. “Now you can take the guess work out of customer conversion and add up to 2-3 purchase transactions a month with HomeScout. It is the only mobile search platform to offer consumers 100% MLS listing information from coast to coast and gives lenders more control by introducing them to buyers prior to meeting an agent. Find out more by visiting them at Sales Mastery, Booth 23, in San Diego or contact them HERE  to schedule a demo or give them a call at 952-831-0623.
 
You’re probably all-too-familiar with the frustration of trying to find a reliable Down Payment Assistance (DPA) program. The Money Source, one of the nation’s premier mortgage lenders, has created DPAssistant to find one easily. TMS has compiled an up-to-date list of 125 recommended programs in 27 states. Can’t get much easier than that. 
 
In a time of increasing margin compression and heightened consumer expectations, outsourcing your tech needs to a software company can accelerate digital transformation to increase business growth and profitability. When it comes to Software-as-a-Service (SaaS), a lot of organizations deliver great software, but far fewer deliver great service. Today, you need a company that can be more than a vendor. You need a company that understands the unique challenges facing the mortgage industry. You need a company that can help you map out your current and future needs, implement, adopt and continually educate you and your users to maximize your investment. In short, you need a partner. Read the Total Expert blog to learn the four questions you should ask to eliminate the chaos that comes from choosing the wrong technology vendor and find the perfect partner for you and your relationship managers. Technology isn’t magical. Neither are relationships. 
 
Recruiting: Do you need to hire producers but are struggling to find the time or are struggling to keep up with your own production and recruiting efforts? “Let the pro’s help! As the leading strategic growth partner in the mortgage industry, Model Match offers a full suite of solutions to help our clients find and attract quality production talent that align with your unique value propositions and business model. Whether you’re looking to increase efficiency of your own recruiting efforts, or need a partner that can recruit for you, Model Match is the solution. CLICK HERE to connect with one of our recruiting specialists and let us show you the value we can create.”
 
Upcoming events
 
The impact of Hurricane Florence continues. According to CoreLogic, flooding and wind destruction has affected an estimated 700,000 residential and commercial properties across North Carolina, South Carolina and Virginia. Freedom Mortgage Wholesale has announced that it is now offering webinar training dates for the FHA 203(h) product which is designed to help homeowners and renters who have lost their home or apartment in a Presidentially-Declared Major Disaster Area (PDMDA). Freedom Mortgage will be hosting 2 webinars – Thursday, 10/4 at 10AM ET and Thursday 10/11 at 1PM ET. The webinars will focus on details regarding how the FHA 203(h) product can play a meaningful role in recovery efforts. No pre-registration is required; simply join the webinars from this link.
 
Join National Mortgage Professional Magazine for Beyond The Post: Engage the Audience on Their Terms, a complimentary, Thursday, October 4th at 2:00 PM EDT. You’ll learn the most powerful and low/no cost tactics of digital marketing from nationally recognized social media expert Synergy Maven and Executive VP of Retail Sales at MiMutual, Daniel Jacobs. In this one-hour webinar demystify jargon such as ‘omnichannel’, ‘multi-generational sales’, ‘SEO’ and ‘target audiences’ and leave with a customized action plan of three tactics to immediately boost your business. Please register for this complimentary webinar here.
 
Join the NNMLA for lunch on Wednesday, October 10th with guest speaker Rob Chrisman, provider of Rob Chrisman’s Daily Mortgage News & Commentary. Registration will close at noon on October 8th.
 
Understanding mortgage pricing can be complex. Combine that with what the NEW HMDA 2018 will reveal about a lender’s pricing practices as compared to the HMDA 2017 data, and compliance professionals realize that they now need to understand pricing inside and out!  Back by popular demand, Tammy Butler, Master CMB is offering her “Secrets to Mortgage Pricing” and “De-Mystifying the Pricing Engine” Webinar on October 24th and November 1st. You can register for one or both here.
 
Plaza has posted its October live webinar trainings.
 
MBS is offering another two-day Boot Camp on mortgages and mortgage-backed securities.  This event will be run by the CFA Society of LA taking place October 4th and 5th from 8:30-4:00 at the member center in LA.