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Do you have what it takes to be the best?

2020 Speakers Include:

Paul Yatooma VP of Sales Quicken Loans Mortgage Services

Ralph Rosynek SVP MoneyHouse

Jeff Tesch CEO RCN Capital

Eric Morgenson Account Executive Angel Oak Mortgage Solutions

Use code NMPOCN for free registration

Don Frommeyer National Mortgage Chair American Business Media


n National Mortgage Professional Magazine n MARCH 2020

The mortgage industry is going through a significant change. For mortgage origination professionals, it's a struggle to keep on top of all the changes, and to keep your sales strategies and marketing initiatives at their peak. You need to keep your pipeline filled, and you need the tools and directions to stay profitable, efficient, and effective. We've brought together the best in the business to create a top tier event specifically designed for mortgage origination pros. The Originator Connect Network supports more than 120,000 mortgage pros across the nation. We’re proud to be bringing this show to you. And we're inviting you to be part of this important conference designed to make you a better mortgage originator.



table of



The Mortgage Godfather: The Best Job of My Life: Gunslinger By Ralph LoVuolo Sr.



The Immersion Internship Program: Veterans United Home Loans Looks to the Future of a Diverse American Workforce By Loreli Wilson

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Making Progress in Gender Diversity By Laura Brandao ....................48 Engaging Minority Markets By Mick Donahue ....................................52


Diversifying the Mortgage Industry by Closing the Generational Gap of Homeownership By Stephanie Guizar & Brianna Martin..........54 How to Recruit and Retain a Diverse Workforce By Paul Buege ........56


Building Diversity Among the Ranks Requires Out-of-the-Box Thinking By Liz Monahan ..................................................................58


The Evolution of Women in Homeownership By Kelcey Brown ..........60


Break the Monotony: Building a Diverse and Inclusive Workforce By Quincy Amekuedi ..........................................................................62


Homeown-her-ship By Kelley Ross ....................................................66


NAMMBA Top 100


FEATURES From the Publisher’s Desk: A Message From Publisher & CEO Vincent M. Valvo ..................................................................................4


Recruiting, Training and Mentoring Corner: Diversifying the Great Mortgage Melting Pot By Dave Hershman ..................................6


Non-QM Enables “You,” the Loan Officer, to Shine By Tom Hutchens ................................................................................8



In This Edition … A Message From Founding Publisher Joel M. Berman ....................................................................................8


Creating Customers for Life By Austin Niemiec ..................................10


National Mortgage Professional Magazine Presents ... Diversity Roundtable Discussion 2020

V I S I T Company

Web Site


A D Page

ACC Mortgage .................................................. accmortgage.com ............................................................9 Angel Oak Mortgage Solutions ............................ angeloakms.com ..............................................Back Cover Arc Home Loans ................................................ archomeloans.com ........................................................55 California Mortgage Expo-Irvine .......................... camortgageexpo.com/irvine/irvine ....................................1 Citadel Servicing Corporation ................................ citadelservicing.com ........................................................13 Concord Church Finance .................................... concordchurchfinance.com ............................................72 Deephaven Mortgage, LLC .................................. deephavenmortgage.com ..............................................19


DocMagic .......................................................... docmagic.com ................................................................5


First National Bank of America............................ fnba.com/mortgagebrokers ............................................59


Who Will Define the Digital Mortgage Experience? By Nicole Valentin-Smith

Greenbox Loans, Inc. ........................................greenboxloans.com ..................................Inside Front Cover Locke Law US, LLC ............................................ lockelaw.us ..................................................................67 Lykken On Lending ............................................ lykkenonlending.com ....................................................67


MBA-NJ/NJAMB .................................................. mbanj.com ..................................................................65 MBS Highway .................................................... mbshighway.com/MNN ..................................................15 MCM Capital Solutions ........................................ mcmcapitalsolutions.com ..............................................63


of contents




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New Site Launched for Client Referral to Housing/Credit Counselors By Pam Marron ..................................................................................12 From the Desk of Beverly Bolnick, CMO-Chief Mommy Officer: Working From Home With Kids ..........................................................18 California AG Releases Modified Proposed CCPA Regulations By Gavin T. Ales ................................................................................20 Marketing Interrupt: Using Thought Leadership to Build Authority By Jason Frazier ................................................................................26 New Law Means Veterans Are No Longer Constrained by VA Loan Limits By Chris Birk ..................................................................38 Your Culture Matters: Know Who You Are as a Mortgage Professional By Jay Doran..................................................................68 MBA’s Mortgage Action Alliance: A Message From MAA Chairman Jeffrey C. Taylor ................................................................73

Consumer Privacy Will Dominate Future Headlines By Mike Eshelman ..............................................................................76

COLUMNS New to Market ..................................................................................14 News Flash: March 2020 ..................................................................16 Heard on the Street ..........................................................................28 NMP Calendar of Events ..................................................................79

A D V E R T I S E R S Company

Web Site



Mortgage News Network (MNN) .......................... mortgagenewsnetwork.com ............................................61 Motor City Mortgage Expo .................................. motorcitymortgageexpo.com/register ..............................29 NAMMBA .......................................................... nammbaconnect.org ......................................................37 NAWRB ............................................................ nawrb.com ....................................................................17 New York Mortgage Expo .................................... nymortgageexpo.com ......................................................3 NewRez, LLC ...................................................... newrez.com ..................................................................64 Origination Pro.................................................. originationpro.com ........................................................56 Originator Connect ............................................ originatorconnect.com ..............................................40-41 Paramount Residential Mortgage Group, Inc. ...... prmg.net ................................................Inside Back Cover PB Financial Group Corp. .................................. calhardmoney.com ........................................................57

The New York Mortgage Expo is the Empire State’s largest mortgage event for loan origination professionals, bringing together hundreds of mortgage brokers, loan originators and bank and credit union lending officers from throughout the region for an event full of education, networking and fun. The event includes a broad array of event partners from throughout the mortgage community, multiple education sessions and top speakers. You’ll be growing your business and your contacts in a setting packed with passion, professionalism and fun.

Plaza Home Mortgage, Inc. ................................ nmplink.com/income ....................................................21 Quicken Loans Mortgage Services ........................ qlmortgageservices.com/strongertogether ........................11 RCN Capital ...................................................... rcncapital.com ..............................................................57 Ridgewood Savings Bank .................................... ridgewoodbank.com ......................................................53 Velocity Mortgage Capital .................................. velocitymortgage.com ......................................................7

Use code NMPOCN for free registration


FROM THE PUBLISHER & CEO MARCH 2020 Volume 12 • Number 3 345 North Main Street, Suite 313 West Hartford, CT 06117 Phone#: (516) 409-5555 • Fax#: (516) 409-4600 NationalMortgageProfessional.com

STAFF Eric C. Peck Editor-in-Chief (516) 409-5555, ext. 312 EricP@MortgageNewsNetwork.com Beverly Bolnick Associate Publisher (516) 368-1149 BBolnick@AmBizMedia.com Joey Arendt Art Director (516) 409-5555, ext. 323 JoeyA@MortgageNewsNetwork.com Phil Hall Reporter (516) 409-5555, ext. 12 PhilH@MortgageNewsNetwork.com Rick Grant Special Reports Editor (570) 497-1026 (direct) (516) 409-5555, ext. 311 RickG@MortgageNewsNetwork.com Andrew Berman Head of Engagement and Outreach (516) 784-4840 Andrew@MortgageNewsNetwork.com Jaclyn Leitermann Client Success Coordinator (516) 409-5555, ext. 316 JaclynL@MortgageNewsNetwork.com Francine Miller Advertising Coordinator (516) 409-5555, ext. 301 FrancineM@MortgageNewsNetwork.com Joel M. Berman Founding Publisher (516) 409-5555, ext. 310 Joel@MortgageNewsNetwork.com

Vincent M. Valvo CEO & Publisher (860) 922-3441 VValvo@AmBizMedia.com Keith Griffin Editorial (860) 719-1991 KGriffin@AmBizMedia.com

Originator Connect: The Network Built for You his is a pretty confusing time to be a mortgage originator. Regulation is supposed to be easing up, but there’s little evidence that the rules–or the mountains of paperwork– are getting any less voluminous. The real estate market is booming, but is it getting ready to implode? Do customers want personal service or app-based applications? And what about product selection? Is “Non-QM” just a new term for sub-prime? Will FHA and VA programs continue to be supported by the administration? And on, and on … It’s why originators need a great network. They need knowledgeable advisors and industry partners who can provide guidance and opportunity, and they need to be able to meet their peers and share their ideas and concerns. That’s why there’s the Originator Connect Network, which includes National Mortgage Professional Magazine; Mortgage News Network; and a host of newsletters, Webinars and Web sites. It’s an informal coalition, reaching out to more than 100,000 mortgage professionals across the nation. From complimentary NMLS license renewal classes, to designation programs that help you be a better mortgage professional, we have a lot to share with this important community of colleagues. Over the past few years, we’ve been building a series of state, regional and national mortgage originator conferences. These events are designed to be efficient and effective for attendees: Take just a day (or two) and get access to an array of informative sessions, along with opportunities to meet companies who can help you expand your business. We now host about 25 such conferences across the country (you can see them all at MortgageConferences.com), including our largest, Originator Connect in Las Vegas. But these aren’t just one-off meetings. Along with our magazines and e-newsletters, they serve as the building blocks for a support network unlike any other. The Originator Connect Network is exclusively for you. There is no membership fee. There is no alliance with any ideology. There is no direction from any trade association. This is simply a pure network of information and resources to help originators learn more and sell more. That’s it! From our many live events, we saw that there was great information available–but only to those who were showing up at the conferences. So we’ve also invested in new highly-interactive Webcast forums, to bring originators the best in online learning, both live and on-demand. This is also free to you. Information is power. We provide you with helpful articles, strong insight and thoughtful opportunities to make you a better originator, because in a confusing time, it’s comforting to know there is a support network looking out for you. As a mortgage originator, that’s the Originator Connect Network. Sincerely,


Vincent M. Valvo, Publisher & CEO American Business Media VValvo@AmBizMedia.com

Navindra Persaud Director of Online Content (860) 719-1991 NPersaud@AmBizMedia.com Alison Valvo Interactive Design Director (860) 719-1991 AValvo@AmBizMedia.com Melissa Pianin Marketing & Events Associate (860) 719-1991 MPianin@AmBizMedia.com Stacy Murray Graphic Design Manager (860) 719-1991 SMurray@AmBizMedia.com Donald Frommeyer Chairman, Originator Connect Network (860) 719-1991 DFrommeyer@AmBizMedia.com

Subscriptions To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@mortgagenewsnetwork.com or visit www.nationalmortgageprofessional.com. Any subscription changes may be made to the attention of “Circulation” via fax to (516) 409-4600. Statements, articles and opinions in National Mortgage Professional Magazine are the responsibility of the authors alone and do not imply the opinion or endorsement of American Business Media LLC, or the officers or members of any trade association that National Mortgage Professional Magazine is designated as their official publication. Participation in any trade association that designates National Mortgage Professional Magazine as their official publication, events, activities and/or publications is available on a non-discriminatory basis and does not reflect the endorsement of the product and/or services by American Business Media LLC, or any of the trade associations that designate National Mortgage Professional Magazine as their official publication.. National Mortgage Professional Magazine and any trade association that designates National Mortgage Professional Magazine as their official publication do not make any misrepresentations or warranties concerning the regulatory and/or compliance aspects of advertisers, products or services and/or the editorial content contained in American Business Media LLC publications. National Mortgage Professional Magazine and American Business Media LLC reserve the right to edit, reject and/or postpone the publication of any articles, information or data. National Mortgage Professional Magazine is a publication of American Business Media LLC Copyright © 2020 American Business Media LLC

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n National Mortgage Professional Magazine n MARCH 2020


Recruiting, Training and Mentoring Corner

Diversifying the Great Mortgage Melting Pot BY DAVE HERSHMAN

s diverse as America is becoming, I would think that the topic of diversity would be even hotter than it really is. When I started in the mortgage industry some 38 years ago (yes, I was seven-years-old at the time!), the industry was dominated by White males. The industry has progress along the way, but not as much as America has progressed. In a previous column, I addressed diversity in recruiting. Today, I would like to expand upon the definition of diversity. Yes, diversity includes the hiring and serving of minorities, but it really means so much more when you think about it. What do I mean by that? Well, let’s see how we can expand the concept ‌

A MARCH 2020 n National Mortgage Professional Magazine n





Gender: The fastest growing segment of homebuyers are single females. Is this the fastest growing segment of your workforce? I would venture to say that we have moved from male domination, but males still outnumber females on the sales side of the business. And even more so within the executive level. Geographical diversity: Are you serving all areas of your home cities, counties and states? Certainly, we have heard a lot about the





dearth of lenders in rural areas. And even though our laws prohibit redlining, that does not mean that companies are hiring and/or marketing within lowerincome neighborhoods. Sexual preference: Did you know that almost five percent of the population is identified as LGBT? This is an important cross-section of America that transcends other boundaries such as African-American, Latino and White. Age diversity: Much has been said about the graying of loan officers in America. There is no doubt that we need an infusion of new blood in the industry, especially as Millennials and Generation Z are coming to dominate the purchase scene. That means we need to support these new generations with training programs and much more. Marketing diversity: Today, it is not enough just to have loan officers on the street. Marketing must be multichannel, including face-toface, e-mail, social media, videos and more. That means there must be technological diversity as well. Just by hiring younger, we can move towards achieving that goal. Product diversity: One could argue that the real estate boom of the previous decade had too much product diversity. Since then, we have become extremely

homogeneous in our product offerings. Fixed-rates, conforming and government products have dominated. There has been some rise of diversity in the non-QM markets, but not nearly enough to serve the more diverse population of America. Some of this was caused by tighter regulations and some by record low interest rates. Who wants an ARM when you can have a fixed rate at 3.5 percent? I can almost guarantee you that, if rates rise significantly

in the future, we will see more ARM usage and even a comeback of certain products such as temporary buydowns. I could add several more categories of diversification which are important, but we will stop here. I am not trying to play down the importance of serving minority segments of the population. I am merely trying to point out that the have to have the diversity of products, marketing and workforce to adequately serve these segments.

Senior vice president of sales for Weichert Financial Services, Dave Hershman is a top author in this industry, with seven books published, as well as establishing the OriginationPro Marketing System and the OriginationPro Mortgage School–the online choice for mortgage learning and marketing content. His site is OriginationPro.com and Dave can be reached by e-mail at Dave@HershmanGroup.com.



n National Mortgage Professional Magazine n MARCH 2020


Non-QM Enables “You,” the Loan Officer, to Shine By Tom Hutchens A Message From Founding Publisher Joel M. Berman


MARCH 2020 n National Mortgage Professional Magazine n



here are many unique benefits that loan officers receive from producing non-QM loans, such as higher commissions, capturing an underserved market and extending pipelines. Many loan officers may not realize a crucial benefit of promoting nonQM and that is perfecting skills that transcend market conditions that can pay long-term dividends across all lines of business. In the mainstream mortgage marketplace, focus and discipline – eternally critical to sales excellence – too often fall victim to urgencies such as lead generation, rate competition and market unpredictability. Conversely, non-QM selling enables originators to create customers, prove the rewards of homeownership and build pipelines that are durable, because their value does not rely only on the ups and downs of the market. “My non-QM pipeline is important to my business plan for a number of reasons,” one broker told me recently. “In addition to keeping a portion of my eggs out of the agency basket, it gives my loan officers the opportunity to improve their sales and problem-solving skills.” She went on to say that non-QM success requires her loan officers to understand their customers, find solutions to their problems, and get them to a comfort level on the value of taking a non-traditional approach to homeownership. She added, “Non-QM customers face barriers that agency borrowers do not, but they still need to be treated like tier-one clients to earn their business. That’s where empathy, control and patience are critical.” This broker, and others, have thanked me for offering products along with the tools to sell them. This allows originators an alternative to the non-stop badgering by prospects for the lowest rates and fees. The rewards of focus and hard work can be enjoyed in bigger commission checks right away. Along with that, that same deal could result in a refinance after 12-24 months down the road. Although agency production will continue to dominate the volume of brokerages, those companies that encourage their teams to pursue and master non-QM origination will improve their margins and nurture diverse, more durable pipelines. NonQM is the fastest and largest growing segment in the mortgage industry currently. The volume could increase even more if the QM patch is allowed to expire next year requiring even more borrowers to need non-QM loans. I strongly encourage every mortgage professional to learn about and be ready to offer these diverse products to homebuyers and investors. As the non-QM pioneer and market leader, Angel Oak Mortgage Solutions has a nationwide team of account executives who specialize in helping brokers, branch managers and loan officers excel in serving non-agency borrowers. To locate and contact your account executive, call (866) 837-6312 or visit AngelOakMS.com/MAP.

Tom Hutchens is executive vice president, production at Angel Oak Mortgage Solutions, an Atlanta-based wholesale and correspondent lender licensed in more than 40 states and operating in the non-QM space for over five years. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 539-4910 or e-mail Info@AngelOakMS.com.

This month, we take a closer look at the topic of diversity and how the mortgage industry has evolved over the years to become the Melting Pot that its is today. The National Association of Minority Mortgage Bankers of America (NAMMBA) is one such group who has made great strides in enriching minorities and women who work in the mortgage industry. As NAMMBA Founder and CEO Tony Thompson, CMB states in the association’s Mission Statement: “NAMMBA’s mission is to increase the engagement of minorities and women in the Mortgage Banking Industry at the local, state and national level.” To that end, NAMMBA has teamed up with National Mortgage Professional Magazine to present this month’s list of the top Women and Minority Mortgage Loan Originators (MLOs) in the nation, ranked by the top MLOs based on loans and volume in our second annual “NAMMBA Top 100” list. A great deal of time and effort has been put into crunching the numbers and narrowing down this list. We gathered a diverse panel to discuss the state of the industry in a roundtable format in our “Diversity Roundtable Discussion 2020.” This cross-section of the industry share their experiences overcoming obstacles, while sharing solutions to make the profession more diverse. In keeping with the theme of diversity, we bring you a feature on how Veterans United Home Loans is doing their part. In “The Immersion Internship Program,” Veterans United has taken things a step further by strategizing and creating a customized opportunity for students to immerse themselves in the mortgage industry through the company’s immersive internship program. In our “Special Focus on Diversity in Mortgage Lending,” Laura Brandao of American Financial Resources Inc. kicks things off this month with her piece “Making Progress in Gender Diversity,” where she highlights the strides that women have made and continue to make in bolstering their ranks at the C-Suite level. “Engaging Minority Markets” by Mick Donahue of Equity Prime Mortgage discusses the change that is coming to the communities you serve and notes that: “If you aren’t already serving minority markets, you better start looking into it and building lasting connections.” Liz Monahan of NewRez LLC presents “Building Diversity Among the Ranks Requires Out-of-the-Box Thinking,” where she presents new ideas and methods in which to foster diversity in the workplace. PRMG's Stephanie Guizar & Brianna Martin team up for their submission "Diversifying the Mortgage Industry by Closing the Generational Gap of Homeownership," stressing financial education as a top priority. Paul Buege of Inlanta Mortgage explains how to create a sense of family and belonging within your ranks in his piece, "How to Recruit and Retain a Diverse Workforce," while WebMax's Kelcey Brown details a new emerging market, the single woman in his article, "The Evolution of Women in Homeownership." And rounding out this month's Special Focus section is Quincy Amekuedi of Genworth Mortgage Insurance's "Break the Monotony: Building a Diverse and Inclusive Workforce" and "Homeown-her-ship" by Kelley Ross of Ross Mortgage Corporation, another piece highlighting female empowerment via homeownership. All this and much more lies ahead in our March 2020 issue … enjoy!!! Sincerely, Joel M. Berman, Founding Publisher National Mortgage Professional Magazine Joel@MortgageNewsNetwork.com




n National Mortgage Professional Magazine n MARCH 2020

Creating Customers for Life By Austin Niemiec

Brokers presently have their pipeline full of refi opportunities.

urgency is the ante to play.” If brokers live by this when engaging

Why is it important for brokers to not lose sight of the

with their clients and real estate agent partners, it will build and

upcoming purchase season?

reinforce trust in you.


ith the market the way it is, there is no

When working with real estate agents, I cannot stress enough

“upcoming” purchase season–consumers are

the importance of speed to certainty. Agents don’t want to get

eagerly searching for the home of their dreams all

weeks into the home purchase process, then learn there are

year. At Quicken Loans Mortgage Services

problems. Brokers should work with lenders who can quickly

(QLMS), this February was our best month EVER. Usually, the

confirm their client is qualified and is proactive with all

industry sees a bit of a seasonal lull this time of year, but with


low rates improving affordability and inventory so tight, we are seeing the spring homebuying season creep earlier and earlier. From a broker’s perspective, I would be hard pressed to

Another key is BEING DIFFERENT. There are many loan officers entering the industry, and the focus on real estate agent relationships has never been more competitive. Agents will send

imagine anyone that has lost sight of purchase season. We urge

business to brokers who clearly demonstrate they are at the top

our partners to always be building infrastructure and process. In

of their game and have unique tools at their disposal to get the

our current era of abundance, brokers should have their profits

job done. One of the many tools we provide our Pinnacle

work for them. That means not becoming complacent but instead

Partners is Fresh Start. Agents love it, and it allows brokers to

doubling down on efforts to become even more successful. While

separate themselves from the competition!

it can be easy to become distracted with our current refi boom, if

MARCH 2020 n National Mortgage Professional Magazine n



your process is buttoned up, you will be better prepared for any

In what ways are mortgage brokers using the Fresh Start

economic cycle.

program to do business with more borrowers?

ELITE loan officers build enough scale and efficiency to take

Fresh Start is a truly groundbreaking program that is beneficial

advantage of both the refinance and purchase markets at the

for both brokers and real estate agents. If a client is denied a

same time. The key is preparation and great partnerships. Here at

loan due to poor credit, they can be sent to a Fresh Start

QLMS, we take pride and responsibility in helping brokers do

consultant who will create a personally tailored plan to ensure the


client’s credit is boosted to a point where they will be able to secure the ideal loan for them and their future home. On the flip

What are the keys to creating the best customer experience

side, if a borrower has good credit, but is looking for better

in a purchase transaction?

pricing, Fresh Start can make their credit great. This will allow the

Brokers should always focus on speed to certainty when their

client increased flexibility and more robust loan options. Loan

client is buying a home. There are many things that could come

fallout is a broker’s biggest expense, but Fresh Start opens up

into play when scheduling the closing of a home purchase, but

doors to a whole new group of clients who may not have

the buyer and seller both want the assurance the loan will close

qualified in the past. Instead, they will have the tools available to

when that day comes.

them to enhance their credit score and learn how to maintain it

Brokers should work with partners who can both provide

over the term of the loan.

incredible pricing and the certainty clients are looking for. This will allow clients to feel more secure about their loan, and that

Austin Niemiec is executive vice president of

means feeling more secure about their relationship with you.

Quicken Loans Mortgage Services (QLMS). He

If brokers work with the largest lender in the country, they have

has led QLMS through meteoric growth,

access to some of the fastest initial underwrites in America and

doubling the number of partners over the last

get the ability to speak directly to underwriters. Not only that, but

year, and closing more loan volume in 2019

they get access to QLMS’ award-winning “The Answer”

than in the previous five years combined.

technology to ensure they can give their clients the best advice

Austin oversees an ever-expanding team of


account executives based in Detroit and Charlotte who work directly with QLMS’ thousands of partner

We all talk about client experience, but what about partner

mortgage brokers, regional banks and credit unions. Austin joined

experience? How do we get real estate agents to become

Quicken Loans in 2009 as a mortgage banker, where he learned

raving fans?

the various needs of homeowners and mortgage brokers through

We have a saying at Quicken Loans: “Responding with a sense of

his work with thousands of clients.



ST TRO RONG GER R TOGE O ETHER ER Lindsey Peterson Marketing Coordinator Loan Pron o to Charlotte, NC

Billll Thams QLMS Account Executive



Equal Housing ng Lender. Licensed in all 50 states. NMLS #3030

n National Mortgage Professional Magazine n MARCH 2020

Call (8 888) 762-5 5035 QLMorrtgageSer viices.com/S StrongerToge o ether

Addressing Post-Housing Crisis Issues

New Site Launched for Client Referral to Housing/Credit Counselors BY PAM MARRON

he first seminar for a pilot program that connects loan originators with housing counselors to assist challenged clients was presented on Jan. 23. The message from attendees: Provide simple steps for the referral process and explain the resources provided. The finishing touches are being put on a Web site, Clients2Homeowners.com, made to do just that. The “About the Site” section explains the three areas of help clients commonly need and how HUD credit and housing counselors can be the referral source to assist these clients for loan originators and real estate agents. Not all housing counseling agencies have the same services, but a great deal of time and work has been spent with one housing counseling agency (HCA), Neighborhood Home Solutions in St. Petersburg, Fla. with the focus on the top three areas of need that loan originators and real estate agents most encounter that prevent a client from purchasing a home:

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1. Credit (and NOT credit repair) 2. Downpayment Assistance (DPA) 3. Home Budgeting Tops on the list is assisting clients with credit issues The correction of erroneous credit, the building of credit, improving credit scores and restructuring student loan repayments are all common issues that impede clients from

getting a home. All HUD housing counselors are trained to assist clients with basic credit issues, but certified credit counselors are trained for in-depth credit counseling and debt management (not credit repair and debt settlement). Credit counselors can talk directly with credit reporting agencies and creditors with clients. They can also use credit tools that can determine how to improve credit scores, show what can be done to build credit and zero in on where a credit error exists. Downpayment assistance program knowledge is second greatest need for clients and LOs Keeping track of available downpayment assistance (DPA) programs, different underwriting criteria between the first mortgage and the second DPA mortgage, and a variety of other details that must be focused on can be daunting to most LOs. Additionally, national mortgage wholesalers have realized the need for DPA programs for the independent LO side of business and have begun rolling out their own programs in the last few years. Wholesaler DPA programs are highly competitive with the existing city, county and state programs, offering DPA funds all year round. In Florida, to streamline all DPA programs available, a matrix is being developed that will include the wholesaler, city, county and state programs and will start with city and county programs in Tampa Bay, Fla.,

expanding from there. Three wholesalers that provide proprietary DPA programs and a page that lists wholesalers that use Chenoa Funds will be included on the Web site and matrix spreadsheet. This spreadsheet provides specific information that LOs need, like maximum ratios, extra costs, income limits, etc. As more programs become available, they will be added. This document is being provided to ensure that all DPA options are available with pertinent information at-a-glance to assist LOs, real estate agents and housing counselors in determining what DPA a client might be eligible for in a particular area. Home budgeting is third in client need Many, especially Millennials, have never been taught how to properly budget for a home. Having a third-party look at your spending habits and put you on track for a home in your future provides hope for many who thought homeownership out of the realm of possibility. At an HCA event attended, a comment was made by a client receiving home budgeting education to their counselor that they were taking what was learned home to their parents

who had never had budgeting education either! To make the referral process as easy as possible, auto-fill forms to complete are located at Clients2Homeowners.com. Autofill documents, along with supporting documentation (if available), are needed to complete the handoff of a referral from a loan originator to the housing counselor. If the documents are not completed and sent to the credit or housing counselor by the referring LO, there is nothing that connects you to the client to insure that your client is referred back to you when they are deemed “Mortgage Ready.” Whether your client needs help with one or all three of the issues noted, Neighborhood Home Solutions can accommodate clients in Florida for services of this pilot program. There is a $275 Fee for Service and credit report cost of $20.18/single or $40.36/joint that must be paid upfront. Beverly Malina, credit and housing counselor, can be reached by phone at (727) 2090131 or e-mail Beverly.Malina@NHSFL.org. For more information or help outside of Florida, contact me directly at (727) 375-8986 or e-mail Pam.M.Marron@gmail.com. Stay tuned.

Pam Marron (NMLS#: 246438) is senior loan originator with Innovative Mortgage Services Inc. (NMLS#: 250769) in Tampa Bay, Fla. She may be reached by phone at (727) 375-8986, email PMarron@InnovativeMortgage.onmicrosoft.com or visit HousingCrisisStories.com, CloseWithPam.com or 8Problems.com.



• • • • •

Most recent personal account’s bank statement Up to $7.5 million loan amounts Down to 600 credit score 75% LTV max purchase 70% LTV max refi (R/T & cash out)

OUTSIDE DODD-FRANK® DSCR and Asset Depletion Business entities and trusts allowable

• • • • • •

No FICO and 500 FICO program allowable

90% LTV, no MI No reserves required Qualify with Assets: ATR-In-Full & Asset Depletion, with No Income or Employment Documentation Down to 500 credit score or below


• • • • •

5 to 100-unit commercial properties Retail, office, hotel, motel, hospitality, healthcare, storage facilities, strip malls, schools, daycare centers, mixed-use, & multi-family Business entities and trusts allowable Up to $7.5 million loan amounts Up to 75% LTV


Call Citadel Servicing Now! 949-900-6630 sales@citadelservicing.com




Citadel Servicing Corporation NMLS ID# 144549, Licensed under Division of Business Oversight Under the California Residential Mortgage Lending Act license #41DBO-74196, Finance Lenders License # 60DB094450, and CA-DRE #01799059. For mortgage professionals only. This information is intended for the exclusive use of licensed real estate and mortgage lending professionals in accordance with local laws and regulations. Distribution to the general public is prohibited. CSC is an equal opportunity lender. Rates, terms, and programs subject to change without notice. Offer of credit subject to credit approval per applicable underwriting and program guidelines, applicant eligibility, and market conditions. Not all applicants may qualify. Not valid in the following states: AK, HI, IA, MA, MS, MO, NM, NY, ND, OH, RI, SD, and WV.

n National Mortgage Professional Magazine n MARCH 2020

Interest only available

Up to $7.5 million loan amounts


Up to $7.5 million loan amounts Business purpose/No TRID

Foreclosure, short sale, and bankruptcy okay


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Calyx Upgrades Its Zip POS Platform

MARCH 2020 n National Mortgage Professional Magazine n



Calyx has announced that it has enhanced Zip, the company’s point-of-sale (POS) platform, with several new features including the ability for borrowers to upload documents and an interactive Borrower Dashboard to provide more visibility into the loan process. Zip allows borrowers to easily begin the loan application process online or via any mobile device. The Zip interview prompts borrowers with questions that apply to their unique situation and loan inquiry, which improves the borrower’s experience and the quality of leads originators receive. The new enhancements include a Borrower Dashboard where borrowers can monitor their loan application’s progression, reducing anxiety and increasing their satisfaction with the mortgage process. Additionally, Zip Administrators can choose to activate the Document upload feature. When activated, borrowers can upload essential loan documents such as income and identity verification, while completing the borrower interview. The new version also includes borrower questions to support HELOC origination, as well as refinance and home equity options for second homes and investor properties. The update also gives borrowers access to their loan officer’s contact information by clicking the Help icon in the Zip Interview Portal. “Research from leading



consultants, like the Boston Consulting Group, has found that access to real-time status information is one of the major factors influencing the overall customer satisfaction in the mortgage process,” Sung Park, senior vice president of development at Calyx. “The latest enhancements to Zip allow loan originators to provide a borrower experience that is transparent, engaging and convenient. In addition, the enhancements also enable banks and credit unions to add proven, easy-to-use technology to their home equity and investor lending programs.” Blend Introduces eClosing Solution Blend, a San Franciscoheadquartered provider of digital lending software, has introduced its Blend Close product for eClosings. Company founder and CEO Nima Ghamsari announced the product by noting it would “feature all the necessary functionality for eSign, Remove Online Notarization, eNote, and eRecording” while supporting hybrid closing options and remote online closings. He added that the product is now being pilot tested by U.S. Bank and BMO Harris. “With the housing market expected to see growth this year and the refi market heating up, now is the time for lenders to start thinking about how to drive efficiencies, lower costs, and win more consumers,” Ghamasri said. “Blend is tackling those pain points head on and providing lenders with an intelligent eClosing solution that adheres to all the latest



regulations, directly within the borrower/lender mortgage and home equity work flows.” PMI Rate Pro Launched to Streamline MI Quotes

Two Kansas City mortgage loan officers, Nomi Smith and Luke Landau, have formed PMI Rate Pro, and launched a software platform that enables loan officers to identify the most affordable private mortgage insurance (PMI) rates available. The software cuts the time required to quote the cost of PMI–typically required when a buyer puts down less than 20 percent of a home’s purchase price–and ensures mortgage officers find the lowest rates for homebuyers. Due to a lack of time and transparency with the process, fewer than five percent of LOs compare more than three providers for the most affordable mortgage insurance options available. As a result, homebuyers often pay more for PMI than necessary. The PMI Rate Pro software allows LOs to access results from all six national PMI providers in seconds, helping them save clients an average of $25 per month and $3,000 per loan. “For many first- and secondtime homebuyers, transparency and affordable monthly payments are the most important factors they consider when choosing a mortgage loan officer, so we wanted to improve both of those considerations,” said Smith, PMI Rate Pro co-founder and longtime mortgage officer with



Fairway Independent Mortgage Corporation in Kansas City. “With PMI Rate Pro, homebuyers secure the most affordable monthly payments possible.” Landau said: “We’re committed to helping LOs find the best options for their homebuyers. PMI Rate Pro also saves loan officers valuable time, allowing them to focus on closing deals instead of spending hours running PMI quotes.” After registering with PMI Rate Pro and completing a simple form, LOs can view single and monthly quotes in seconds. The platform’s design allows LOs to easily share the preferred quote with their processors, no matter which software they use. PMI Rate Pro also will integrate user feedback to further refine its software. IDS Strengthens State-Specific Mortgage Doc Prep Functionality International Document Services Inc. (IDS) has announced that it has enhanced eSign tools for state-specific document functionality in its flagship document preparation platform, idsDoc. The addition of this functionality enables IDS clients to automatically access statespecific documents that are electronically fillable, where allowed by law. “Because of the variances between state regulators, maintaining compliance at the state level is in many ways even more burdensome for lenders than doing so at the federal level– especially when adding digital mortgages to the mix,” said IDS

commitment to providing compliance support at all levels.” QuestSoft Announces Upgrades to Its Compliance RELIEF Platform

QuestSoft Corporation has updated and refined its Compliance RELIEF software to provide multi-user capabilities and faster performance without a price increase or any per user charges. By recompiling the software code from the ground up and switching

to a more efficient Microsoft SQL Express database engine, the QuestSoft programming and development team reduced the installation size of the program by 50 percent and reduced the size of peer databases by 95 percent. All customers can now have multiple users simultaneously access data in various licensed modules, including HMDA RELIEF, CRA RELIEF and Fair Lending RELIEF, at no additional cost. The included SQL Express database can be installed on any machine that acts as a server, which prevents private customer data

from having to be stored in the cloud. "The number one request from customers since we launched Compliance RELIEF has been a multi-user capability," said Bhavin Shah, senior vice president of product development and technology at QuestSoft. "That became our highest priority so financial institutions could further streamline their compliance and regulatory reporting, analysis and submission." The Fair Lending RELIEF continued on page 20

Why choose MBS Highway? BARRY HABIB— THE ORIGINATOR OF THE MARKET ADVISORY SERVICE Daily guidance and insights from Mortgage Market expert Barry Habib. He closed over $2 Billion in production as a Loan Originator, called the bottom of the Housing Market and currently provides sales and market training to thousands of Loan Originators across the country. STATE OF THE ART, USER FRIENDLY WEBSITE We've taken great pride in building a website that uses new technology, and enhances the user experience. No matter where you are on our site, you'll always have market data in sight. Never miss a lock alert with our real time market news and alert system. MOBILE WEB APP

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n National Mortgage Professional Magazine n MARCH 2020

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Vice President and General Manager Mark Mackey. “Statelevel compliance has always been a hallmark of the IDS platform. We are thrilled to make our digital mortgage functionality available to clients for use in the execution of state-specific documents and to help them maintain compliance while supporting their individual digital mortgage strategies.” The IDS library of staterequired documents puts the standard collection of state documents at lenders’ fingertips. This library is a collection of expansive regulatory research and is maintained and updated regularly by the IDS Compliance Department. In addition, the department maintains the “IDS State Disclosure Matrix,” a reference document which lists the state-specific documents available in idsDoc and notes the default parameters used to determine when specific documents should be included in a loan package. This Matrix is available through the Customer Portal and in the IDS Help Center. In addition, clients can have all disclosure documents electronically signed in the eSign Room with a unique login and secure e-mail link for each document signer. Through this functionality, reviewing is verified and reported, and all compliance requirements, including timing requirements, are met. In the event the eSignatures cannot be verified, a physical disclosure package can be automatically sent by the IDS Fulfillment Center. With IDS’ expanded signing tools, loan officers and processors save time with the document verification process as completed by the borrowers. The review and signing functions have been expanded to allow the filling of text boxes and check boxes. These tools can be used with the standard documents as well as any custom documents the lender wants to include. This feature also eliminates the need to pre-disclose or include printed documents that require borrower selections and data input. “As technology continues to improve the digital mortgage experience, IDS strives to meet its clients’ every anticipated need in idsDoc,” Mackey said. “By adding this functionality to our already expansive multi-state document preparation offering, we are simplifying things for our clients even more while maintaining our continued


Moody’s: Weaker Non-QM Underwriting Increases Default Risk

MARCH 2020 n National Mortgage Professional Magazine n



Investors are facing a new threat of default risk in residential mortgagebacked securities (RMBS) due to weaker underwriting in non-QM mortgages, according to a new study from Moody's Investors Service. The study noted that the current securitizations of non-QM loans were originated under a variety of underwriting programs and criteria, ranging from so-called non-QM “near misses” to reduced documentation mortgages to investor loans. Moody’s study noted that “while the performance history for these loans is limited, weaker non-QM underwriting variations add risk layers for RMBS.” Moody’s also acknowledged the growing viability of non-QM: Issuance of non-prime transactions expanded from three deals in 2016 with a total balance of about $570 million to 57 deals in 2019 with a balance of approximately $23 billion. However, the study also pointed out that bank statement underwriting standards, which are used primarily for self-employed borrowers, could be problematic in terms of the quality of underwriting. "Bank statement underwriting standards vary across originators along several dimensions, such as the number of bank statements used, the source of the

statements, and how revenue and expenses are identified," says Moody's Vice President Lima Ekram. However, Moody’s added that this problem is hardly insurmountable. "Employing relatively stronger lending operational controls in the non-prime sector is likely to mitigate some risk from non-QM," said Ekram. "The use of technology in risk modeling and oversight can mitigate the risk of higher loan defaults from alternative documentation programs." Equity Prime Mortgage Named Official Housing Sponsor of Sanguine SMITE eSports Team

Equity Prime Mortgage (EPM) has been named Official Housing Sponsor for the Sanguine professional SMITE eSports team. As part of the collaboration, Sanguine professional SMITE players will live and train in the EPM Team House. eSports, also known as electronic sports is a form of sport competition using video games, taking on the form of organized, multiplayer video game competitions, particularly between professional players, individually or as teams. "We are excited to be able to support the eSports community and this Sanguine team is

especially close to my heart as the only Latin American team competing professional in the SMITE Pro League,” said EPM President Eddy Perez. “When you compare the demographics of the first-time homebuyer market and the eSports market, you see staggering similarities. We see this as an opportunity to build an educational plan on credit and homebuying, and since the Sanguine team will be based in Atlanta, we will be able to help mentor the team on their journey.” The Sanguine Team House is located in Alpharetta, Ga., close to the Hi-Rez Studios, where the team will play and compete in the professionals SMITE League. The house enables Sanguine athletes to focus on developing their skills, while providing direct access to any resource necessary to ensure the team’s success. In addition to naming rights for the team house, EPM will receive prominent logo placements on the Sanguine jersey and integration in its social and digital media channel. “The EPM Team House gives us the chance to practice together as a team,” said Blaine "Cakeman" Bell, team owner and manager. “Last year, we competed in the minor league and all our players lived in different countries. With the Team House, we will be able to play and live together. We can call team meetings in minutes and build synergy both in and outside of gaming as a team. Having this tight team together to practice and prepare is crucial for maintaining a competitive environment, and by supporting us with this team house, Equity Prime Mortgage is helping us prepare to take the number one spot at World Championship SMITE.”

Raleigh Reeling in iBuyers

One out of every 100 homes sold last year was acquired by an iBuyer, according a new data study by Redfin. The new study analyzed MLS and public records data across more than 200 metro areas on home purchases and sales made by the top iBuyer platforms, including Opendoor, Zillow, Offerpad and RedfinNow. Raleigh, N.C. had the greatest iBuyer market share last year at 7.3 percent, up from 3.9 percent in 2018. Phoenix had the second highest iBuyer share at 5.9 percent, followed by Charlotte and Atlanta (tied at 5.2 percent) and Las Vegas (4.1 percent). Redfin also determined iBuyers had a market share of at least one percent in 21 markets, including in 11 markets where they had a share of three percent or higher. "It's no surprise Raleigh and Phoenix led the nation in iBuyer share because those housing markets are iBuyer sweet spots and are poised for price growth in 2020," said Redfin Chief Economist Daryl Fairweather. "These markets work well for iBuyers, which tend to purchase homes that are relatively affordable, were built within the last few decades and are easy to price accurately because they are located in tract neighborhoods with largely homogenous housing stock. iBuyers also try to buy homes that will likely retain or

increase in value over the short period between purchase and sale. Our forecasts indicate that both Phoenix and Raleigh will have strong price growth in 2020." Fairweather added metros with a growing iBuyer activity will see increases in their 2020 home sales. "It's a seller's market right now, but this can be a double-edged sword for sellers who also are looking to buy," she continued. "iBuyers are a big help for folks who need the equity from their current home to buy the next and want the flexibility of lining up their sale with the purchase of their new home. Homeowners who may have been reluctant to sell because they were concerned about carrying two mortgages or worried about the stress of choreographing two transactions may be persuaded by the convenience of an iBuyer sale."

year's report will give the industry a more complete picture of Hispanic buyer nuances and geographic concentrations." Slight Increase in Zombie Foreclosure Rate

More than 1.52 million single-family homes and condos are currently

vacant, according to new statistics from ATTOM Data Solutions. This represents 1.5 percent of all residences nationwide. There are approximately 282,800 homes in the process of foreclosure, with roughly 8,700, or 3.1 percent, sitting empty in a socalled state of zombie foreclosure. The percentage is up from three percent in the fourth quarter of 2019 but down from the 5.8 percent level at its peak in the first quarter of 2014. The total number of properties in the process of foreclosure in the first quarter of this year is down 1.9 percent from

the fourth quarter of 2019, while the number vacant foreclosures is up 1.7 percent. New York led the nation with zombie properties (2,206), followed by Florida (1,390), Ohio (977), Illinois (943), Ohio (823) and Pennsylvania (317). Among the major metropolitan areas with at least 100,000 residential properties, Peoria, Ill., had the highest percent of zombie foreclosures at 12.7 percent, followed by Cleveland (10.5 percent); Youngstown, Ohio (9.1 percent); Syracuse, N.Y. (8.8 continued on page 18

Hispanic Homeownership Rate Up for Fifth Straight Year



n National Mortgage Professional Magazine n MARCH 2020

The Hispanic homeownership grew for the fifth consecutive year during 2019, according to the National Association of Hispanic Real Estate Professionals (NAHREP) Annual State of Hispanic Homeownership Report, which will be released next month. The new report found Hispanic homeownership rate at 47.5 percent last year, and Hispanics have been the only demographic group to record an increase in each of the past five years. NAHREP noted that Hispanics accounted for 51.58 percent of net growth in homeownership between 2009 and 2019, while non-Hispanic whites accounted for only 1.5 percent of homeownership growth over that same 10-year stretch. NAHREP added the total number of Hispanic homeowners increased by 277,000 in 2019, while the overall number of Hispanic households increased by 435,000. Hispanics currently represent 18.3 percent of the U.S. population and have a labor force participation rate of 66.8 percent, the highest participation rate of any demographic. "The vibrancy of the Latino homebuyer population helped to pull our industry out of recession in 2012 and continues to drive growth in markets all across the United States," said David Acosta, 2020 NAHREP president. "This

From the Desk of Beverly Bolnick


Chief Mommy Officer Working From Home With Kids ’m sure you are quite familiar with the viral video that came out a few years ago of a BBC interview that was rudely interrupted by the subject’s daughter entering the room. It was a moment with which many working parents could relate. I am lucky enough to be able to work from home several days a week so that I can spend more time with my kids. But, as with many jobs, there are times during the day when I need to close the door of my home office and hunker down to work on a project or get on a call with a client without PAW Patrol blasting in the background. This can be a challenge, but here are some tips to keep on task while working from home with kids:






You need to have child care during your working hours. Listen, I get it. You are working from home because you want to spend more time with your kids. But if (when) your boss or a client calls, you need to be able to give them your undivided attention. And you will be hard-pressed to do that while dodging flying Nerf darts. You need to have a dedicated workspace, preferably with a door that closes. Whether it is a spare bedroom or you have a full-blown home office, you should have a work space that is free from noise and distractions … and a door is helpful. My home office has glass French doors and it is right off my living room, which is great because I can see my kids, but not so great because they can see me. I’ll admit I have had more than the occasional visitor, especially while speaking with important prospective clients. Stay focused on work during your committed working hours. I know it is super easy to go throw in a load of laundry or bake those cupcakes for the preschool Valentine’s Day party since you are home, but these tasks really break your focus. It may seem like you are saving time by multitasking, but I guarantee that your productivity will go down quickly. Stay focused on work for ONLY your committed working hours. Remote and cloud-based software allows us to log-in to our e-mail and work systems at any time of day, which can be extremely convenient if we are facing a tight deadline or we need to work non-traditional hours. However, don’t let this “convenience” get you sucked into working 18 hour days. Be sure to keep that work-life balance and remember why you are working from home in the first place.

I hope these are some helpful tips that allow you to have a more productive and enjoyable work from home experience.

Beverly Bolnick, Associate Publisher National Mortgage Professional Magazine BBolnick@AmBizMedia.com

Beverly Bolnick, associate publisher at American Business Media, started her post-grad life working in the music industry and in radio broadcasting. After a quick stint as a high school English teacher, she joined nmp as a marketing assistant in February 2012, and in just three years, worked her way up to become VP of sales and marketing. Outside the office, she is a proud wife and mother of a toddler, a preschooler and a parakeet. She may be reached at BBolnick@AmBizMedia.com.

NMP NEWS FLASH continued from page 17

percent); and Knoxville, Tenn. (8.8 percent). “Homes abandoned by owners facing a possible foreclosure remain little more than a blip on the radar across the country, as one of the main scourges of the Great Recession continues to show little or no signs of reemerging,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Even with the slight increase in these so-called ‘zombie foreclosures,’ so far this year, there are still pockets of distress with elevated numbers of abandoned homes. But in yet another reflection of how the national housing market is still booming, you can drive through many towns and not pass a single such property.” Barry Habib Named Two-Time Winner of Crystal Ball Award

Barry Habib, founder and CEO at MBS Highway, a provider of mortgage industry news and analytics, has been named 2020 winner of the Crystal Ball Award, presented by Zillow and Pulsenomics. A second-time winner of the award, having also taken home the honor in 2017, Habib was presented with the honor in connection with a Pulsenomics survey of more than 100 of the nation's top economists, investment strategists and housing market analysts, who then rank the winners based on the accuracy of their predictions of future real estate trends. Barry’s forecasts were found to be the most accurate of all those polled. “It’s a very big honor to win this award twice, especially given that the other 100-plus top economist are all highly-qualified and respected,” said Habib. “The MBS Highway team, as well as our subscribers, deserve much of the credit because they help us understand local market conditions.” Winners receive the coveted Pulsenomics Crystal Ball Award, a genuine crystal ball complete with a crystal stand and an engraved plaque to commemorate each winner's accomplishment.

In addition to being named Crystal Ball Award winner, Habib was named National Mortgage Professional Magazine’s Mortgage Professional of the Year for 2019. Mortgage Fraud Risk Reaches New Low

The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications during January was down by three percent compared with December and down 28.6 percent from one year earlier, according to the latest Loan Application Defect Index data from First American Financial Corp. January’s Index was the lowest level since First American began tracking this data in 2011. During January, the Defect Index for purchase transactions remained the same compared with the previous month and was down by 17.9 percent compared with one year earlier. The Defect Index for refinance transactions decreased by 5.2 percent from December and plummeted by 33.7 percent from January 2019. “Overall defect risk, as measured by our Loan Application Defect Index, has largely trended down since early 2019 with a few exceptions,” said Mark Fleming, chief economist at First American, who credited “the increasing share of less risky refinance transactions for the low levels of defect and fraud risk.” Your turn National Mortgage Professional Magazine invites you to submit any information on regulatory changes, legislative updates, human interest stories or any other newsworthy items pertaining to the mortgage industry to the attention of: NMP News Flash column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.






Deephaven Mortgage is shining the light on Non-QM lending by providing products specifically designed to address the needs of millions of borrowers who are unable to obtain a traditional mortgage. In return, this allows originators to expand their business by reaching out to a broader group of borrowers. Help shine the light on Non-QM for your potential borrowers. Contact us by visiting www.deephavenmortgage.com and selecting either Correspondent or Wholesale. We look forward to you getting in touch with us today! Deephaven Mortgage® LLC. All rights reserved. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification. For more information on Deephaven’s state licensing, visit the NMLS Consumer Access webpage at http:// nmlsconsumeraccess.org/. NMLS #958425

n National Mortgage Professional Magazine n MARCH 2020

Millions of potential borrowers are locked out of today’s conventional mortgage market.

California AG Releases Modified Proposed CCPA Regulations By Gavin T. Ales


MARCH 2020 n National Mortgage Professional Magazine n



he California Attorney General’s Office has released a notice of modifications to the proposed regulations for the California Consumer Privacy Act (CCPA) on Feb. 7, 2020, and additional updates on Feb. 10, 2020. The release included the text of the modified proposed regulations in a redline version, and a clean version, along with a list of documents and other information relied upon in the rulemaking process. The notice states that the modifications were made in response to public comments received during the initial comment period and to conform with the proposed regulations with recent changes in the law. The California Attorney General accepted written comments regarding the modified regulations until Feb. 25, 2020. Final regulations are expected to be issued after the comment period, and prior to July 1, 2020, which is the earliest possible day the Attorney General can enforce the law. A final statement of reasons is expected to be issued with the final rulemaking to provide further context and clarification of the regulations. The modifications do not change the overall structure of the proposed regulations. There is no change to the requirements that companies provide notice at the “point of collection” when personal information is collected from a consumer, and provide a broader privacy policy, which may be posted on a Web site or mobile application. The modifications do expand on notice requirements by providing that when a business collects personal information over the telephone or in person, it may provide the notice orally. Some of the other modifications to the proposed regulations include: l Guidance on the Definition of “Personal Information.” l Addition of “Just-In-Time Notification” for unexpected data collection. l Guidance on Accessibility Requirements of Notices. l Reduction in Detail Needed for General Privacy Policy. l Additional Guidance on Requirements for Complying With Requests to Know and Requests to Delete. l Additional Detail on Requests to Opt-Out. l Clarification of Obligations Imposed on Service Providers. l Guidance on the Separation of Employment Notices from Consumer Notices. l Removal of 90-Day Look-Back Period for Opt-Out Requests. While the modifications address many key issues, additional updates may be made by the Attorney General at the conclusion of the current comment period. DocMagic will continue to monitor the development of CCPA regulations.

Gavin T. Ales is chief compliance officer with Torrance, Calif.-based DocMagic Inc. He may be reached by phone at (800) 649-1362, ext. 6446 or e-mail Gavin@DocMagic.com.


NEW TO MARKET continued from page 15

module was also upgraded to expand market data analysis— including peer selection, comparison and review. Users can now generate parity reports to better communicate and assist management, marketing and compliance personnel in understanding lending performance for specific demographic groups or areas. The addition of peer mapping provides insight into lending distribution in higher risk geographies. “With the continued and proposed changes to HMDA and CRA regulations, we pointed our development team towards establishing enhancements for future development needs,” said Leonard Ryan, president and founder of QuestSoft. Other improvements to Compliance RELIEF Version 1.6.0 include advanced analytical reports, enhanced importing, and a simplified submission protocol for easier access to the CFPB Submission Platform. Quarterly submission of HMDA data is also now available within HMDA RELIEF for lenders subject to this requirement. Sierra Pacific Wholesale Rolls Out ExpressLoan

Sierra Pacific Mortgage has debuted ExpressLoan, a proprietary loan origination portal. According to the Folsom, Calif.-based company, ExpressLoan offers tools for Sierra Pacific’s Third-Party Originator (TPO) partners including an upgraded document management solution and integrated solutions for validating income and assets at the point of sale. The company added that the design of the user dashboard has also been improved. “We’re proud of our legacy but we understand that we have to continue to innovate and modernize to meet the expectations of our partners,” said Sierra Pacific’s Executive Vice President of TPOs Amy Mahar. “We’re incredibly excited about our momentum as we continue to optimize processes and make additional investments in technology solutions that put our partners in a position to win.”

Freddie Mac Debuts CreditSmart Homebuyer U

Freddie Mac has rolled out CreditSmart Homebuyer U, a free online resource for consumers seeking information on buying and maintaining residential property. According to the government-sponsored enterprise, CreditSmart Homebuyer U offers six educational modules focused on a key learning principle relating to money management, credit, getting a mortgage, the homebuying process and preserving homeownership. Taking the CreditSmart Homebuyer U courses will satisfy the educational requirements for Freddie Mac HomeOne or Home Possible mortgage loans and will align with the pre-purchase content of the National Industry Standards on Homeownership Counseling and Education. “Becoming a homeowner is an important responsibility and Freddie Mac is committed to providing the tools and resources to ensure a successful path toward sustainable homeownership,” said Danny Gardner, senior vice president, single-family affordable lending and access to credit at Freddie Mac. “The goal of this exceptional program is to empower those who are pursuing the dream of homeownership with knowledge to make informed, responsible decisions.” Your turn National Mortgage Professional Magazine invites you to submit any information promoting new “niche” loan programs, new products or any other announcement related to the introduction of a new program, to the attention of: New to Market column Phone #: (516) 409-5555 E-mail: Newsroom@MortgageNewsNetwork.com

Note: Submissions sent via email are preferred. The deadline for submissions is the 1st of the month prior to the target issue.



n National Mortgage Professional Magazine n MARCH 2020

The B Gunsli


MARCH 2020 n National Mortgage Professional Magazine n






his just might be the best market for you, your family and loved ones that you will ever see in your

lifetime. With interest rates at an all-time low and more than likely headed even lower, and with unemployment also at historically low levels, enthusiasm about our future at unexpected highs, confidence in our own abilities being supported with all the positive things we see, now is the time for us to make concentrated efforts to enhance our future by being smart with our present. In 1980, I was afforded the best job of my 40 years on Earth. The fact that I was a broken spirit, in mind and fact did not deter me from applying for the dream job of a lifetime. My gun was loaded. During the summer of 1979, I was living in southern New Jersey in a two-bedroom apartment supported by a federal program, effectively on welfare. My rent payment was $58 per month. A neighbor and I grew our own vegetables so we could save the cost on grocery items. Having a real estate license at the time, I was the broker of record for a mortgage company with an office about 25 miles from my apartment. The people who were working at that company needed me to help them with the most basic mortgage questions you can think of. But I needed to keep my mind in that business. For a regular weekly salary, I found myself in a fancy boatyard, scraping the bottom of yachts. Removing barnacles that had grown there was backbreaking, dirty and effectively the worst job of my entire life. The upside was that after the barnacles were removed, I could use a roller to pain the bottom of those boats and didn’t have to use a paint

Best Job of My Life: slinger BY RALPH LOVUOLO SR.

year than ever before. Of course, that’s so easy to predict. Are you willing to shoot before you carefully aim? Will you see 15 real estate agents this week? Will you get in touch with every single person you know? On Friday, will you text a message to every real estate agent you know with a message that says: “Hope you had a great week. I just want you to know that if you need me this weekend, I’ll be available for you or any client you might have.” Have you explained to you partner, wife or husband that this just might be the year that everything falls into place? Will you let God and me help guide you to riches beyond your belief? Have interest rates dipped below three percent yet? Could I have ever seen this coming? No, NEVER!!! But I’ll tell you that I asked you to get ready. I asked you to organize your database. I

asked you to look up and study the background of every real estate agent within driving distance on LinkedIn. I asked you to spiff up your own LinkedIn profile. I asked you to become friends with every real estate agent you said you want to do business with by using Facebook. I told you to video message your clients when the commitment is issued. I told you to always be ready when the HR guy calls like he did with me and asked me if I was ready. Yes, I scraped the bottoms of boats. I hated it. All 125 pounds of me hated that job, but I was always ready. I kept my gun loaded, oiled and practiced what I did best: I could out-produce any loan officer I ever met. I’ve given you the keys to the vault … they still work. You have months left of a market that will get you the job of your lifetime, but if you don’t act today, shame, shame, shame!

Ralph LoVuolo Sr. has nearly 60 years history in the mortgage business. He was a co-founder/president of the NYAMB and a long-term member of the board of directors of NAMB. The Mortgage Godfather is available to help your salespeople do more business. He does sales rallies, Webinars, personal coaching. Call, text or e-mail (917) 5761230 or e-mail Ralph@MortgageGodfather.com.


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the bank in one week back at his office. It was my birthday. It was the day Mr. Reagan announced in New York City that he was running for President. It was the best present I ever had, even to this day. From the bank of phones at the Port Authority, I called back to my welfare apartment in the pinelands of New Jersey and screamed into the phone, “I got the job, I got the job … $30,000 and a vice president position!” Yes, I was really excited and was so happy that I had kept my gun loaded. I started the job on Jan. 2, 1980. My office was on the second floor overlooking 8th Avenue. It was just the best job I ever had. Interest rates were between 12-13 percent … the country was in deep trouble. The economy was in the toilet, but none of that mattered to me. I dove into the pool without testing the depth of the water. Are you familiar with the adage that you need to aim before you shoot? Well I never learned that. My way of doing things is to shoot first and aim later. That has gotten me in tons of trouble in my life, but it also creates the greatest set of activity you’ve ever encountered. I built that department into a machine. In 1979, the bank I worked at did nine loans. Within three months, we were closing about 30 a week. I oiled that machine every day with new ideas, new contacts and so much business that the secondary market manager had a hard time keeping up. Interest rates rose to 17 percent. I bought a house that year and paid 15.5 percent interest for a $55,000 price tag and sold it 18 months later for $199,500. Here is what is facing you right now. You have the job of a lifetime. You’re going to look back on 2020 as the year you either made a ton of money or let the $100 bills fall through your fingers because you didn’t take action. I predict there will be more real estate sold this


brush. But my gun was loaded. One scorching day toward the end of the summer for some reason, explained only by the intervention of God, I bought The Wall Street Journal. In the “Help Wanted Section” was an advertisement for a position in New York City as the manager of the mortgage department of a bank. I seem to remember that the ad referred to the fact that the bank was starting a new division to originate residential mortgages. As your mind moves to the next step, let me amend your thinking. My resume was filled with parttime jobs. Even so, I was teaching a mortgage course based on a booklet I had written, managing the mortgage company that had my license, training new salespeople and writing applications at night after I was cleaned up from the dust created by the scraping of yachts. My gun was loaded. But still, in some recess of my mind, I made a copy of the resume and sent it off to a blind mailbox, just on the 10,000 to one chance I would hear back … and hear back I did. At the time, I really had only a passing knowledge of the greatest city on the planet. I called the person who headed up the HR Department and arranged to be in his office the following week. Taking a bus from Atlantic City to New York left me at the Port Authority Building just across from 42nd Street and 8th Avenue. Then I discovered that I only had to walk one long block to the bank’s main office at Broadway and 42nd Street. After spending about half-anhour with the HR manager, he walked me down to the corner office of the president. We spent two wonderful hours together discussing the actions I would take to put together a mortgage department. He told me right then and there that I had the job, but he wanted me to meet the other officers of

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The Immersion Internship Program Veterans United Home Loans looks to the future of a diverse American workforce By Loreli Wilson

“Don’t continue allowing other organizations in our industry to dictate the diversity at your company. Change the system in which you operate, and impact the trajectory of students you bring onboard.” —Loreli Wilson, Director of Inclusion and Social Impact Programs, Veterans United Home Loans


program was the first real look I got into corporate America and provided me with opportunities I never would have had otherwise. Everyone here is so welcoming and willing to help. I never expected things to go so well and the people to be so nice. I also got a qualification that I could use in the real world even if I could not come back to work here. I appreciate everything everyone has done for me and I can’t wait to come back.”

“The Immersion program has given me something so wonderful. It’s great to find a place that welcomes you with open arms. I have learned more about myself and how I could fit into the company. I’ve learned to stop doubting myself and believe that I can accomplish great things.” —Meara Booth, Immersion Production Intern who interned in 2018 from the University of Kansas, and is currently a loan specialist at the Lenexa, Kan. Office of Veterans United Home Loans

—Titus Zeigler, Immersion Production Intern, who interned in 2018 from Florida Agriculture and Mechanical University, and is currently a loan officer at the Columbia, Mo. home office of Veterans United Home Loans


is based off their education, experience, interests and aptitude. To limit opportunities for individuals to enter your company based off their work history, companies unintentionally end up perpetuating the hiring practices and demographics of other organizations in their industry. These hiring practices include carrying over these companies’ biases. Just as natural as your current practices are, the more difficult it is and the more intentional you have to be to create change. Don’t continue allowing other organizations in our industry to dictate the diversity at your company. Change the system in which you operate, and impact the trajectory of students you bring onboard. An effective practice of diversifying your workforce is developing students through entry level internships. Interns for our program are sought after nationally, with focuses on historically black colleges/universities (HBCUs) and

diverse metropolitan areas. To provide them comprehensive insight through their experience, interns are matched with a Veterans United mentor and a Veterans United executive mentor to guide them through our culture, industry, and the college to real world transition. Executives who participated in mentoring students included both Veterans United co-owners, our CEO and other senior leaders. To further add to their growth, interns participate in leadership development trainings specific to professionals of color (Hot Button Issues, Cultural Competence, Communication & Code Switching, etc.) and are provided real work experience and a better understanding of how they can fit into the financial industry, and our values driven company as well. In any program created for underrepresented populations, there are many considerations that have to be addressed: continued on page 78

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candidate pipeline in the financial industry. We strategized and created a customized opportunity for students of color and student veterans to immerse themselves in the mortgage industry, our home office community in Columbia, Mo., and the values of the organization: “Be passionate and have fun; Deliver results with integrity; and Enhance lives every day.” What we describe as a “backwards means of recruitment,” meaning instead of hiring students for open internships, we identify students before we identify the positions to place them in. At our headquartered location in Columbia, we have every component of a business needed for a company to function. This includes accounting, technology, operations, sales, human resources, marketing, etc. Through our internships, we are able to provide real work experience, with an opportunity for full-time employment upon graduation. Placement of interns


s our community demographics are shifting, what are companies doing to keep up with the change and to better serve their customers with a workforce reflective of the communities they serve? In an industry lacking diversity, we need to do something different with our past employment processes, if we are wanting a more inclusive outcome. Veterans United Home Loans, established in 2002, is a familyowned, full-service lender based in Columbia, Mo., specializing in VA home loans. With offices in more than 25 states and licensed in all 50 states and in D.C., Veterans United values individuals and strives to provide an environment where employees find fulfillment and purpose, while appreciating and celebrating every individual’s skillset, background and perspective. At Veterans United, we identified the gap of our diverse borrower population and the


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Using Thought Leadership to Build Authority By Jason Frazier


“The two paths to building local authority in your field are by being a guest contributor on blogs and podcasts. Both of these mediums are very popular locally, and you can gain a lot of traction by being a regular contributor.”

Audience is key To maximize the effectiveness of being a guest contributor, you have to know your target audience. The idea behind the guest contributor is that you are reaching out to blogs and podcasts, which have a local audience that would also fall in line with those who would be your potential customers. This could be a local podcast focused on the city you live in or a blog that is focused on covering local

businesses. Both of those examples would have audiences where the information you provide as a mortgage expert could be valuable. Do your research This is in lockstep with knowing your audience, as mentioned above. Going a step further, you need to understand the style of the blog or podcast that you are engaging. Read a few articles, listen to a few episodes to see if your content would fit in with the vibe of the medium. This is especially important when it comes to a podcast. You want to make sure you can mix well with the personality of the host. Being a good match will lead to great results, while being a bad match will land with a big thud. Be the expert To be seen as an authority on your topic, you have to be able to write quality blog content that adds value or be able to speak like an expert in your field. To help you prepare for either medium, you can do what my friend Scott Schang of BuyWise Mortgage advises: “Look in your

Have the right approach Finding guest contributor opportunities can be easy if you approach the process the right way. When you do your initial contact, make sure you let them know that you are a current subscriber to their blog or podcast. Reference a recent blog post or podcast episode and what you liked about it. Try to tie that in with what you would bring to the table as an expert and how you think you could help their audience. The worst thing you can do is approach the podcast host or blog editor like you are doing them a favor. Be humble, authentic, and have a plan with your content, so they know you have made an effort to bring value to their audience. There are many ways to be known and build authority in your local market. However, being a guest contributor is a great way to get in front of a broader audience that, under normal circumstances, you would not have access to. You also get an added benefit of connecting and possibly building a relationship with the editor or host, where you can become a regular contributor to their platform. Who knows … you may just earn a referral from them in the process.

Jason Frazier is chief creative officer for Mortgage X Creative. He may be reached by phone or text at (801) 702-3176, e-mail Frazier@MarketingInterrupt.com or visit MarketingInterrupt.com.


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someone mention the rising popularity of podcasts. You may even be listening to podcasts as part of your daily routine, quite possibly my podcast with Christine Beckwith, the Mortgage X Podcast (shameless plug). Just like with blogs, podcasts also look for great guests who are the experts in what they do. Having a dedicated audience for a podcast is gold, so podcast hosts put a premium on bringing on the right guests. Even better is when podcasts also have a dedicated blog for their episodes, so you can essentially get a two for one when it comes to building your authority. Next up, I will share my best practices when it comes to being a guest contributor on blogs or podcasts so that you can be in the best position for success.

sent folder in your e-mail.” As a mortgage professional, you are answering questions every single day via e-mail, and I would wager some of these answers are repetitive. Chances are the questions you are answering are the same ones your intended audience would have. You now have a beautiful pool of content to pick from to frame what you want to talk or write about.


or this month’s column, I am going to focus on how to win locally by building your authority through thought leadership. Before we get into how to do it, let’s look at what being a thought leader is all about. According to the Thought Leadership Lab: “Thought leaders are the informed opinion leaders and the go-to people in their field of expertise. They are a trusted source who people will look to whenever their topic of expertise is discussed.” If you are looking for an easy example, look no further than my friend, Barry Habib. In my opinion, no one is more trusted than Barry when it comes to expertise in the mortgage market. If you look at the definition of a thought leader from the Thought Leadership Lab above, I think you would agree that Barry falls right in line. Now that we understand what a thought leader is, how do you, the loan officer, become a thought leader in building authority and winning locally. The two paths to building local authority in your field are by being a guest contributor on blogs and podcasts. Both of these mediums are very popular locally, and you can gain a lot of traction by being a regular contributor. First, let’s look at becoming a guest contributor on blogs. Guest blogging is an easy way to get in front of a larger local audience, along with being a great way to drive awareness of who you are and what you do. Blogs are always looking for relevant and educational content that will bring value to their readers. Now let’s look at becoming a guest on a local podcast. Unless you have been hiding under a rock, I am sure you have heard

heard street on the

Our Heard on the Street column is a chronicle of events, changes and passages in the lives of the people and companies shaping the mortgage industry.

First American Acquires Docutech

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First American Financial Corporation has acquired the mortgage industry document technology provider Docutech for an undisclosed sum. Docutech’s management team, including President and CEO Amy Brandt, will continue to lead the company’s operations. “The acquisition of Docutech reflects our steadfast commitment to invest in and grow our core business. Moreover, it demonstrates our dedication to improving the home-buying experience for consumers and driving the digital transformation of the real estate settlement process,” said Dennis J. Gilmore, CEO at First American “We’re excited to soon welcome to First American the people of Docutech, a highly respected leader in the document technology solutions industry. Together, we will accelerate the evolution of real estate closings.” Black Knight and Quicken Loans Expand Partnership

Black Knight Inc. and Quicken Loans have announced the broadening of their existing business relationship, with the Detroit-based lender extending its contract for Black Knight’s MSP servicing system, while the Jacksonville, Fla.-based data vendor has purchased the source code for Quicken Loans’ Cyclops mortgage servicing customer relationship management software.

The financial terms of the deal were not disclosed. Quicken Loans stated that it will be among the first use Black Knight’s customer service solution, while Black Knight plans to use Cyclops as the foundation for a customer service solution the company will be offering to the clients of its MSP servicing system. “After decades of disruption, this acquisition is further proof of our technology team’s power and innovation,” said Jay Farner, CEO of Quicken Loans. “Our focus is always on our clients and how we can make their experience easier and more transparent. Our success comes from groundbreaking technology and the streamlined processes it can provide. We are looking forward to Cyclops benefiting even more consumers with the industryleading client service the tool can facilitate.” Anthony Jabbour, CEO of Black Knight, said: “Black Knight continues to innovate with urgency. We are committed to developing best-in-class solutions and, when appropriate, acquiring proven technologies to accelerate our time to market for our clients. We share a common vision with Quicken Loans for the future of customer service, and by building upon its proven platform, we are able to accelerate the delivery of this powerful solution. Quicken Loans has been a long-time client, and we are excited to broaden our relationship with them.” A&D Mortgage Partners With LoanScorecard on Non-QM Pricing and Scenario Tool

LoanScorecard has announced that A&D Mortgage has

implemented its product and pricing engine, Pricer1, and non-agency AUS, Portfolio Underwriter, as its Non-QM Pricing & Scenario Tool. “As the non-QM market continues to grow and more brokers begin to explore these options, they need the right tools and technology at their disposal to be comfortable with these products and educate their borrowers,” said Max Slyusarchuk, chief executive officer of A&D Mortgage. “LoanScorecard’s technology provides a uniform approach to underwriting conditions and loan qualifications that creates clarity and efficiency throughout the entire loan process from start to finish, ultimately allowing brokers to close more loans quickly and confidently.” Founded in 2005, A&D Mortgage is a wholesale and correspondent mortgage lender headquartered in Hollywood, Fla. The company specializes in non-QM loans, which accounts for approximately 95 percent of its volume, and offers a full spectrum of products specializing in alternative income such as, 2/12/24 month bank statement, Asset Depletion, P&L Only, WVOE, 1099, DSCR for investors and a foreign nationals program. “Our technology was designed to support innovative lenders, like A&D Mortgage, that offer products to help ‘out of the box’ borrowers,” said Raj Parekh, managing director of LoanScorecard. “Portfolio Underwriter and Pricer1 will help A&D deliver its unique product guidelines and pricing to more brokers in real time and ultimately provide more opportunities for borrowers.”

PRMG Partners With FinLocker on Financial Assistance Tool

Paramount Residential Mortgage Group Inc. (PRMG) and FinLocker have joined forces to provide PRMG customers with free access to FinLocker’s personal financial assistant technology. FinLocker, a consumer engagement platform, delivers a reusable financial locker with personal finance tools to prepare consumers for a home purchase or refinance by securely capturing and analyzing financial data, such as employment, income, assets, credit, real estate, and other financial information. Through this new strategic partnership, the “locker” has been whitelabeled in the name of PRMG. This partnership was designed to provide consumers with a tool to assist in mortgage readiness, as well as financial literacy and wellness. “Our distribution of lockers supports PRMG in carrying on a 10-year tradition of helping originators, for all three delivery channels and retain customers for life,” said Kevin Peranio, chief production officer for PRMG. FinLocker is a secure, transactional personal financial management tool that aggregates a consumer’s financial data. It also analyzes, recommends and streamlines mortgage and other financial transactions. Consumers benefit from personalized recommendations, credit score reporting and monitoring,

financial and mortgage education, as well as cash flow analysis, budget planning, data sharing and more. “My personal relationship with the partners at PRMG is extremely important to me and dates back decades with the founders, Paul Rozo and Robert Holliday…. PRMG has also built a successful company and reputation that focuses on superior customer experience, in addition to supporting originators with innovative solutions,” said Brian Vieaux, FinLocker president. “Built by originators for originators, PRMG shares our vision of innovation by leveraging sophisticated solutions to best serve PRMG originators and customers. This relationship will not only provide a unique value to PRMG consumers, but it also further reinforces the FinLocker mission to ‘Enable people to achieve the dream of homeownership and financial well-being.’”

boarding, pre- and post-closing operations and audits. HPS Investment Partners Acquires Citadel Servicing Corporation

Non-QM specialist Citadel Servicing Corporation (CSC) has announced that the company has been purchased by funds controlled by HPS Investment Partners LLC, a global investment firm that specializes in creative capital solutions and

manages strategies across capital structures. HPS was founded in 2007 and has $61 billion in assets under management as of January 2020. “We are excited that HPS has purchased CSC,” said new CSC Chief Executive Officer Kyle Gunderlock. “HPS have shown through past acquisitions the value they can bring. HPS’s financial and operational resources, as well as their confidence in what the CSC team has achieved, enhances our ability to continue to lead in the non-QM market.” In addition to the resources

available to CSC through this purchase, HPS brings a wealth of experience in growing businesses, allowing CSC to cement its position as the leader in the non-QM space. CoreLogic Acquires Location Inc. CoreLogic has announced its acquisition of Location Inc., a provider of geographic data continued on page 72

Visionet Announces Integration With Encompass



The Originator Connect Network presents Motor City Mortgage Expo. The Motor City Mortgage Expo will include a lineup of educational sessions, business opportunities and networking events curated specifically for the entrepreneurial men and women of the Michigan mortgage industry. Workshops and sessions will include detailing today’s reverse mortgage opportunities, producing profits with private lenders and much more.

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n National Mortgage Professional Magazine n MARCH 2020

Visionet Systems Inc. has announced that it will be showcasing VLR and its integration with the Ellie Mae Digital Lending Platform at Experience 2020, from March 2325, 2020. The integration will allow lenders to more efficiently and securely share data between Visionet’s VLR solution, that is approved/certified by Freddie Mac and Fannie Mae, and Ellie Mae’s Encompass to improve closure ratio, reduce turnaround time and save costs in the loan origination process. “Leveraging the API based integration with Encompass, VLR can directly access borrower documents in the eFolder, process them and make relevant data available in Encompass within minutes,” said Arshad Masood, CEO at Visionet Systems. “All of this is done automatically, saving time and eliminating the chance of any errors. As a result, the underwriting process gets streamlined and lenders can free up time of specialist underwriters to process more loans each day. Lenders can deliver improved borrower experience, close loans faster, and reduce operations cost.” VLR is built on enterprise-level architecture, and is suited for any document-intensive workflow within the lending lifecycle, including loan setup, loan

The National Association of Minority Mortgage Bankers of America (NAMMBA) and National Mortgage Professional Magazine have complied a list of the top Women and Minority Mortgage Loan Originators (MLOs) in the nation, ranked by the top MLOs based on loans and volume in the NAMMBA Top 100. Qualified nominees represent minority groups or must be female, and originate loans with an active NMLS number. All production has been verified by a letter by a sales manager or another authorized party. Due diligence was conducted on all submissions. Congratulations to NAMMBA’s Top 100 on being recognized for this honor ‌

NAMMBA Top 100 by Volume Trina Brown Movement Mortgage

Candice Davis Movement Mortgage

Pauline Amstutz American Pacific Mortgage d/b/a Salmon Bay Lending

Blair Burson DHI Mortgage

Laura Edwards Bay Equity Home Loans

Holly Babb Arbor Financial Credit Union

Cynthia Byrd DHI Mortgage

Kimberly England Point Mortgage Inc.

Renee Baxter DHI Mortgage

Melissa A. Caci RMS Mortgage (Residential Mortgage Services Inc.)

Brenda Farrens DHI Mortgage

Alyssa Beller Academy Mortgage Corporation

Alex Camacho Cherry Creek Mortgage

Linda Fleischmann Stress Free Mortgage


Lisa Alonzo Wallick & Volk

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Loretta Flynn McLean Mortgage Corporation

Demi Blacklidge Academy Mortgage Corporation

Karen Chiu New American Funding

Lea Frye George Mason Mortgage

Sara Blanton American Pacific Mortgage d/b/a Solano Mortgage

Wendee Close American Pacific Mortgage d/b/a CLS Financial

Kelly Gardner American Pacific Mortgage

Monica Bowman Academy Mortgage Corporation

Ryan Cotter Movement Mortgage

Lindsey Goins Movement Mortgage

Melanie Boyajian Academy Mortgage Corporation

Kristin Crane American Pacific Mortgage d/b/a Big Valley Mortgage

Larry Gonzales Aligned Mortgage

Justin Brown New American Funding

Erin Cullinan Foster DHI Mortgage

Adolfo Javier Gonzalez EagleBank


Gina Carnrike DHI Mortgage


Laura Besler Bay Equity Home Loans

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Sherri Keene Point Mortgage

Dana Meadows Movement Mortgage

Ruby Grynberg American Pacific Mortgage d/b/a Salmon Bay Lending

Claudette Khachatourian Homebridge Financial Services Inc.

Jennifer Mericle Bay Equity LLC

Kelly Hagler Homebridge Financial Services Inc.

Helen Kim New American Funding

Daniel S. Mery American Pacific Mortgage

Kathleen Halbing Paramount Residential Mortgage Group

Tina Krupar Bay Equity Home Loans

Jennifer Micklos Movement Mortgage

Fay Hamadanchy PrimeLending

Jayme Kupka Inlanta Mortgage Inc.

Carlos Montero Capital City Home Loans

Chase Hanks Movement Mortgage

Cindy Laffey Inlanta Mortgage Inc.

Erin Kay Moore PrimeLending, a PlainsCapital Bank

Danielle Hifko Movement Mortgage

Christina Lane Movement Mortgage

Norma Morales Homebridge Financial Services Inc.

Shelly Heimer C2 Financial

Melissa Lu Movement Mortgage

Samuel Morales DHI Mortgage

Jillian Heuer PrimeLending

Kimberly Marcarelli Sierra Pacific Mortgage

Lauren Morris Academy Mortgage Corporation

Julie Howell PrimeLending, a Plains Capital Company

Fernando A Marquez George Mason Mortgage LLC

Andres J. Munar Keystone Alliance Mortgage

Chavi Kahan Luxury Mortgage Corporation

Lisa Mathews Gateway Mortgage Group, a division of Gateway First Bank

Melissa Myers DHI Mortgage

Indu Kapoor Guaranteed Rate

Erik Maya Cherry Creek Mortgage

Sonny Nguyen DHI Mortgage







Nick J. Gouche Legacy Home Loans

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Hannah Rogers Movement Mortgage

Paula White McLean Mortgage Corporation

Leslie O’Neal Movement Mortgage

Rosa Rojas DHI Mortgage

Kimberly Winters Movement Mortgage

Stacy Orozco Primary Residential Mortgage

Natalie Salins Movement Mortgage

Leslie Wish McLean Mortgage Corporation

Ruth Perez SWBC Mortgage Company

Nicole Santizo Guaranteed Rate

Amy Wolff Direct Mortgage Loans

Sarah Pichardo George Mason Mortgage

Hemalatha Selvarajan SD Capital Funding

Brenda Wyatt American Pacific Mortgage d/b/a US Lending Company

Tony Piedra BBVA USA

Angela Seminario Alterra Home Loans

Emily Young Movement Mortgage

Jessica Portillo Wells Fargo Home Mortgage

Lisa Shepard PrimeLending

Ping Zhang The Ping Mortgage Company

Stephany Puente Team Puente at Point Mortgage Corporation

Amanda Silber Movement Mortgage

Rajin Ramdeholl Meadowbrook Financial Mortgage Bankers

Jacque Sommer Vellum Mortgage

Lynn Reifert Caliber Home Loans

Celina Tominna Point Mortgage

Leo Roberto PrimeLending

Allison Tyler Movement Mortgage

Jess Rodas Academy Mortgage Corporation

Lisa Wells Cross Country Mortgage


Carol O'Connell McLean Mortgage Corporation

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NAMMBA Top 100 by Units Inga Michelle Brown DHI Mortgage

Dianne Crosby Guaranteed Rate

Tanja Allen Fairway Independent Mortgage Corporation

Elena Campbell Residential Mortgage Services (RMS)

Summer Crown DHI Mortgage

Paddi Bailey Gateway Mortgage

Cody Carrasquillo American Pacific Mortgage d/b/a Aligned Mortgage

Delta Culpepper DHI Mortgage

Elise Bare Residential Mortgage Services (RMS)

Rachel Carroll DHI Mortgage

Whittney Curran Academy Mortgage Corporation

Fermin Barrera DHI Mortgage

Phyllis Casillas OnQ Financial

Dasia Dang DHI Mortgage

Vick Bedi SD Capital Funding Home Loans

Felipe Lissandro Ceballos DHI Mortgage

Allison M. Davis George Mason Mortgage LLC

Melissa Bell McLean Mortgage Corporation

Joseph Chacko C2 Financial Corporation

Tera Davis Academy Mortgage Corporation

Rudy Benitez AnnieMac Home Mortgage

Christine Clark INmortgage

Rhonda Dearing Delta Community Credit Union

Debbie Bodwell Residential Mortgage Services (RMS)

Yvette Clermont Inlanta Mortgage Inc.

Joanne Demorest Wallick & Volk

Cindy Bradley Wallick & Volk

Dawn Cooke DHI Mortgage

Tamika Donahue Academy Mortgage Corporation

Rosa Briggs American Pacific Mortgage

Vonnie Costello DHI Mortgage

Mona Edick Bay Equity Home Loans







Lynnae Aguilar Academy Mortgage Corporation

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Traci Green Wallick & Volk

Michelle Jacinto Direct Mortgage Loans

Amber Ernst New American Funding

Jane Gregg Wallick & Volk

April Janas Bay Equity Home Loans

Michelle Farmer DHI Mortgage

Norma Guerrero-Cowes DHI Mortgage

Amit Kaim George Mason Mortgage

Charadie Finkle Academy Mortgage Corporation

Kasey Hampton DHI Mortgage

Mary Keene Academy Mortgage Corporation

Brittany Fischer DHI Mortgage

Kristi Hardy Atlantic Coast Mortgage LLC

Risha Kilaru Guaranteed Rate

Marcey Fortune DHI Mortgage

Jason Higham Cherry Creek Mortgage

Richmond Kodua American Pacific Mortgage d/b/a Vault Mortgage Group

Rhonda Foster Delta Community Credit Union

Tyrell Hobbs Academy Mortgage Corporation

Allyson Kreycik Guaranteed Rate

Sean Fritts Direct Mortgage Loans

Lizy Hoeffer CrossCountry Mortgage LLC

Marcy Langlois Academy Mortgage Corporation

Lana Geraghty OnQ Financial

Lorri Hoffman Movement Mortgage

Brenda Hodges Langston DHI Mortgage

Melissa Gibson New American Funding

Sarah Howard DHI Mortgage

Carlos Larrazabal Vellum Mortgage

Anthony Gonzales Guaranteed Rate

Carrie Hughes Peoples Mortgage

Jenny Kim Larson George Mason Mortgage

Amy Goss Residential Mortgage Services (RMS)

Jose Iraheta DHI Mortgage

Hung Le Movement Mortgage


Deann Ellis Primary Residential Mortgage

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Dina Pierson Supreme Lending

Mary Jo Van Zandt DHI Mortgage

Lucy Mantilla A&D Mortgage

Saul Pinela Neighborhood Loans Inc.

Denise Weaver DHI Mortgage

Jason Mata American Pacific Mortgage

Kyndle Quinones Primary Residential Mortgage

Monica Wiggins DHI Mortgage

Lauren Maxwell CrossCountry Mortgage LLC

Kelly Rogers Movement Mortgage

Andrea Wine McLean Mortgage Corporation

Janene McGowan Homebridge Financial Services Inc.

Jodi Ryder C2 Financial Corp d/b/a Ryder Mortgage Group

Laura Witte Northpointe Bank

Shelley Murphy DHI Mortgage

Maria Salas Texas Bank Mortgage Company

Yale Xiao The Ping Mortgage Company

Tania Murray New American Funding

Tammy Saul Federal Hill Mortgage

Samantha Zumwalt Paramount Residential Mortgage Group

Denise Peach Total Mortgage Services

Shanon Schinkel Homebridge Financial Services Inc.

Kathryn Pedersen Bay Equity Home Loans

Shashank Shekhar Arcus Lending Inc.

Mauricio Perez Paramount Residential Mortgage Group

Merica Street Academy Mortgage Corporation

Marianne Pfisterer DHI Mortgage

Brady Thomas American Pacific Mortgage d/b/a La Salle Financial

Greta Pierpont Academy Mortgage Corporation

Cynthia Tomlinson American Pacific Mortgage d/b/a US Lending Company







Beth Lewis CrossCountry Mortgage

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New Law Means Veterans Are No Longer Constrained by VA Loan Limits By Chris Birk


Additional VA loan limit changes The U.S. Department of Veteran’s Affairs is now able to back loans that exceed the conforming loan limits. The conforming loan limits for one-unit properties in most counties in the U.S will increase from $484,350 to $510,400 (a 5.38 percent increase). For most high-cost counties, the limit has been increased from $726,525 to $765,600 (a 5.38 percent increase). The Blue Water Navy Vietnam Veterans Act removes loan limits only for veterans with their full VA loan entitlement. The limits will remain in effect for borrowers with less than full entitlement, either because they have one or more active VA loans or because they’ve defaulted on a prior VA loan.


Methodology: Developing the list of counties To identify the Metropolitan Statistical Areas (MSAs) most impacted by the VA loan increase, we examined 124 U.S. counties with populations from 100,000 to one million, closely looking at the following key areas: l The VA loan limit for 2019: We identified the loan limits for each county. The current loan limit is $484,350 for most U.S. counties in 2019, but will increase to $510,400 in 2020. l The average listing price in 2019: We looked at the average list price for each county using the most recent



data from the Realtor.com Real Estate Library. We then identified counties that have significantly higher listing prices than the maximum VA loan limit. Veteran population: The veteran population is arrived at by utilizing the VA population model by county within each MSA for the end of fiscal year 2019. Overall population: Population figures are from the most recent census conducted in 2010.

This article appears with permission of Veterans United Home Loans from the Web site, VeteransUnited.com.

Chris Birk is the author of The Book on VA Loans: An Essential Guide to Maximizing Your Home Loan Benefits. An award-winning former journalist, Chris writes about mortgages and homebuying for a host of sites and publications. His analysis and articles have appeared at The New York Times, the Wall Street Journal, USA Today, ABC News, CBS News, Military.com and more. More than 300,000 people follow VA Loans Insider, his interactive VA loan community on Facebook.

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MSAs benefiting from VA loan limits going away To determine which MSAs might see the biggest impact, Veterans United Home Loans teamed with Realtor.com to compare average home listing prices with the VA’s county-level loan limits for 2019. According to data from Realtor.com, 124 U.S. counties had a higher average list price than the 2019 VA loan limit. We then calculated the

downpayment a VA buyer would need to make if the loan limits were still in place. Again, that’s typically 25 percent of the difference between the purchase price and the limit. “Home prices have risen strongly over the past decade across the country, as solid demand met insufficient supply,” said George Ratiu, senior economist at Realtor.com. “For many veterans, higher house values, coupled with loan limits, placed additional burdens on the path to homeownership. The change in loan limits removes an obstacle for many veterans, and just as importantly, it offers a wider geographical choice on the journey to their next home.”


ffective Jan. 1, 2020, VA loan limits are going away for veterans with their full entitlement. This historic change means there’s no limit to the VA loan’s $0 downpayment benefit. Legislation that took effect on Jan. 1, 2020, removes VA loan limits for veterans with their full VA loan entitlement. This is a huge change and big news for VA buyers, especially those stationed or living in the nation’s more expensive housing markets. Qualified veterans can now borrow as much as they can afford without having to make a downpayment. In prior years, veterans purchasing above their county-level loan limit would need to factor in a downpayment, which was typically a quarter of the difference between the limit and the purchase price. For example, a veteran buying a $584,350 house in a county where the limit is $484,350 would need to put down $25,000 ($100,000 difference multiplied by 25 percent). Now, veterans can opt to save that money, use it for home improvements or still use it to build instant equity. Let’s take a look at the some of the metropolitan statistical areas that will be most affected by loan limits going away, and take a glimpse into what this means for veterans and those who desire to plant roots there.


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n addition to featuring our NAMMBA 100 list in this month’s issue, we also thought it would be an ideal time to gather a diverse panel of industry execs to discuss some pressing issues in a roundtable format. With our focus this month on “Diversity in Mortgage Lending,” we gathered a panel consisting of a cross-section of the industry to share their experiences on the current

state of the industry, overcoming obstacles, and finding solutions to make the profession more diverse. We thank our distinguished panelists for their time and hope that by sharing their own experiences, we can all appreciate their insight into an ever-changing mortgage profession.

Roundtable participants Rosalie Berg President and Chief Executive Officer of Strategic Vantage Rosalie Berg founded Strategic Vantage in 2002 and grew the company into one of the largest marketing, public relations and social media agencies serving the mortgage industry. She has more than 23 years of marketing, public relations and social media experience, dedicating 20 of those years to the real estate and housing finance industries. A nationally-recognized mortgage industry leader, Rosalie has a long track record of conceptualizing and implementing strategic marketing campaigns that have led to double-digit revenue growth and lucrative company sales. In 2019, she was listed among the mortgage industry’s “Most Powerful Women” by National Mortgage Professional Magazine, and in the same year appeared on the cover of Mortgage Women Magazine. Rosalie is actively involved in client accounts at Strategic Vantage, overseeing all agency work and assisting in the creation and execution of marketing, public relations and social media campaigns. Samir Dedhia Principal of SD Capital Funding With more than 15 years of experience in the mortgage financing space, Samir Dedhia has evolved from a loan originator to principal at SD Capital Funding, one of the fastest-growing mortgage brokerage companies in New Jersey. From originating loans to overseeing the growth of this tech-focused organization, Samir has been instrumental in revamping the way his company originates loans, by using technology and an assembly line process to close more efficiently. Productivity and advancement are always front-of-mind when Samir conducts business, as he aims to increase production by 25 percent, while reducing the average closing time to less than 15 days. Stephanie Guizar Corporate Marketing Team Lead for Paramount Residential Mortgage Group Inc. (PRMG) Stephanie Guizar started at Paramount Residential Mortgage Group Inc. (PRMG) in 2015, shortly after graduating from college in an administrative position for PRMG’s National Marketing Department, taking on more tasks and responsibility as time went on eventually being promoted to the role of corporate marketing team lead. In this role, Stephanie is responsible for managing projects and the day-to-day tasks of the department to ensure success for the department and for the company. She is responsible for the marketing and promotion of PRMG’s 501(c)3 non-profit, PRMG Cares, spreading awareness of

the organization’s mission and designated charity. She is a graduate of the University of California, Irvine with a bachelor of arts in public health policy, with a minor in civic and community engagement. Twyla Hankins Executive Vice President of Operations for American Financial Network Inc. With more than three decades of industry experience, Twyla Hankins has devoted her career to building exceptional mortgage lending operations, providing a foundation for success for several mortgage lenders over time. Her management expertise includes all aspects of mortgage lending operations, including loan processing, underwriting, doc drawing, funding, shipping, post-closing and insuring. Hankins, currently executive vice president of operations for American Financial Network Inc. (AFN), joined the company in 2010. Under her operations leadership, and in collaboration with an excellent executive team, AFN has grown exponentially. Her vast knowledge and leadership skills make Hankins an essential member of the AFN executive team. Brianna Martin Corporate Marketing Communications for Paramount Residential Mortgage Group Inc. (PRMG) Brianna Martin has been a part of Paramount Residential Mortgage Group Inc. (PRMG) since 2018, with an entry-level position as an appraisal administrator and has since moved up to the Corporate Marketing Department in the role of corporate marketing communications. She hosts various department Webinar trainings, produces written content for the company blog and social media, as well as writing press releases. In addition to her communications role, she assists with onboarding and administrative duties, along with managing the online company store, The Paramount Shoppes. Graduating June 2020 from California State University, San Bernardino with a bachelor of arts in communications and public relations, she has plans for the near future to continue her education and obtain a master’s degree in communications, new media and marketing. Jane Mason Chief Executive Officer and Founder of Clarifire Jane Mason is chief executive officer and founder of Clarifire, and the original architect behind CLARIFIRE, an application that brings all parties within mortgage servicing operations together onto one secure platform is a recognized leader in technology solutions for the financial services and mortgage industries. With more than 15 years of

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DIVERSITY ROUNDTABLE DISCUSSION 2020 experience in financial services technology, Jane started her career in business operations, quickly becoming an executive of an international law firm. After building a software solution for the law firm to handle real estate related cases, Jane entered the market as the innovator of the CLARIFIRE application. As an entrepreneur and business leader, Jane has received numerous awards and accolades for her service in local business and the national mortgage stage. Last year alone, Jane received the 2019 Women with Vision award from 20/20 Vision for Success Coaching and Mortgage Women Magazine, and four other industry awards in leadership and technology. Danielle Panno Vice President of Business at Prime Choice Funding Inc. Danielle Panno is the vice president of business at Prime Choice Funding Inc. She attended Chapman University for business administration and real estate finance, and joined Prime Choice Funding in 2013 when she was just 19-years-old. Danielle played an integral role in growing the business from a small broker shop to the nationwide lender it is today. She was responsible for building out several aspects of Prime Choice’s personnel infrastructure, including Compliance, Human Resources, Accounting, Customer Service and the Wholesale Division. In addition to her accomplishments in the mortgage

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industry, Danielle is also a co-founder of an all-female real estate team in Southern California. Joni Pilgrim Chief Executive Officer and Founding Partner of Nationwide Appraisal Network (NAN) Joni Pilgrim is the chief executive officer and founding partner of Nationwide Appraisal Network (NAN), a national appraisal management company headquartered in Tampa, Fla. Under her leadership since its inception in 2004, NAN has grown to be a top producing AMC for residential and commercial real estate appraisals trusted by many of the nation’s largest lenders. In 2015, Pilgrim guided the company toward a substantial investment in data and analytics, propelling them to the forefront of technology within the industry. The investment has allowed NAN to remove the subjectivity from the appraiser selection process and use real world stats to select the best appraiser for every assignment. “Using data and analytics has changed the way we do business and has improved the customer satisfaction ratings with our lender clients and their customers from coast to coast,” said Pilgrim. Joni is a graduate of the University of Central Florida with a degree in business administration. She is also the founder of “Backpacks 4 Kids,” a non-profit providing school supplies to Title I schools throughout the state of Florida.

Baby Boomers are choosing not to sell and are keeping more homes What are your feelings on the current state off the market than ever before. A recent Freddie Mac study shows of the mortgage marketplace? that if today’s older adults (born 1931-1959) behaved like earlier Rosalie Berg: Having been in the mortgage industry for close to 20 generations, an additional 1.6 million homes would have hit the years, I cannot recall a time when competition within different market by the end of the last year. That should not be misconstrued segments of the market—mortgage lending, servicing, software and as an opinion that the older generation should not choose to age in service providers—has ever been so ferocious. Technology is a huge place, it just means we need to roll with the changing tide and find reason for this—it has absolutely transformed how every company solutions. Some are predicting new home building will pick up later in and sector of our industry operates. That goes for marketing and the year, and demographics show the need for the pick up to span public relations, too. When I first started, for instance, companies the next six years to keep up with the demand. weren’t really thinking about content marketing, video marketing or Brianna Martin: The mortgage marketplace is definitely expanding. even e-mail newsletters, which are all commonplace. In fact, for The creation of more products has made the idea of homeownership many companies, they are requirements. a possibility for virtually anyone. From college graduates with debt, to Samir Dedhia: The marketplace is becoming extremely transparent day by day. We’ve made it part of our mission to provide exceptional low income families, owning a home is starting to become less of a dream and more of a reality. customer service by delivering on-demand service and transparency. Jane Mason: This is a hard question because the mortgage industry Clients want to know pricing, loan status and closing details at their is so dynamic in nature and everyone’s experiences are different. But own pace and on their own schedule. overall, I have seen the industry as a whole become more kind and Stephanie Guizar: I started in the mortgage industry five years ago, accepting towards women, minorities and people of different fresh out of college. There were a handful of people in the corporate backgrounds compared to when I first began office of PRMG who were considerably building my company many years ago. I think younger than most of the staff … that is that’s a testament to how the industry has completely different now. There are several evolved and the fact that so many people are young and ethnically diverse individuals in working to increase awareness about our company. The age gap is still noticeable, diversity and creating accountability within but there is progress being made in their organizations. welcoming a younger crowd in the mortgage Danielle Panno: The marketplace is industry. I think this is especially important as “Since I started my company, I’ve been changing rapidly in terms of marketing and lenders continue to find ways to attract committed to recruiting and maintaining a lead generation, as well as the technology Millennial buyers! Having a younger individual diverse team of professionals from many being utilized throughout the transactional who a Millennial buyer could connect to is different backgrounds, as I believe it makes process. We have made a huge shift to a extremely beneficial in establishing a us a more effective agency for our clients— technology-heavy marketplace, where it is relationship and closing deals. and based on the results, it’s worked.” almost as common to shop online for a Twyla Hankins: Rates are low, housing Rosalie Berg President and Chief Executive Officer mortgage as it is to shop online for shoes. It inventory is low, and prices are increasing. Strategic Vantage is no longer enough to rely on word of mouth With lower rates, refinances should continue or professional relationships, as some loan to increase. Home prices are rising partly due officers who have been in the business for to low inventory and high demand. Many

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decades are accustomed to. I feel as though exercise diplomacy and maintain it makes the marketplace that much more professionalism throughout all my competitive; you have to work hard to get interactions with others inside or outside of clients and keep them when mortgages are the office. so readily available through mobile apps or a Twyla Hankins: For anyone who has been in simple Google Search. Companies that fail to this business for as long as I have, you can’t embrace the new tech-heavy industry will be avoid facing obstacles. Regardless of the “There have not been any blatant obstacles, at a dramatic competitive disadvantage. reason for the obstacle, I try to find the best but there have been challenges that anyone Joni Pilgrim: One thing I have come to learn way to maneuver through or around the would face in any industry and what we’ve over my last 16 years in the industry is to obstacles in a graceful manner and focus on done is decided to celebrate being a always expect the unexpected. As much as what lessons can be learned from the minority and found a niche market where we try to plan and forecast, there is always experience. I have been very fortunate to we can support each other.” something that comes up that we didn’t have had great mentors in my career (both Samir Dedhia anticipate. As it stands, I think most will men and women) who valued my opinion, Principal agree it’s a fantastic time to be in the knowledge and experience. I would like to SD Capital Funding mortgage industry. Refinance transactions pay it forward and be a mentor to the next are continuing to increase, and affordability generation of mortgage professionals. remains consistent and is even improving in Brianna Martin: As a female of color, I can many markets. Housing affordability has also helped to see an honestly say that I have had to overcome some initial challenges not increase in home purchases and new construction, which is a great only tied to the workplace, but outside the office as well. This can be sign for the economy and the mortgage marketplace overall. as simple as feeling invisible when entering a room and being glanced over, to being talked over in conversation, to literally not being acknowledged. Although I am relativity new to the mortgage Have you faced any obstacles as a female and/or industry (a year-and-a-half now), it is fair to say, working in a maleminority in the mortgage profession? dominated field, I do find myself being somewhat cognizant of the Rosalie Berg: Since I started Strategic Vantage Marketing & Public office environment, from how to conduct myself, to being conscious Relations 17 years ago, I will admit that I have run across some of what I wear to avoid the occasional unwelcomed gaze by another, people who have discriminated against women. Haven’t we all? But be it a man or woman, or even what I might say when writing an enowadays, I like to think that for every person who doesn’t believe in mail to avoid coming off too verbose or overbearing. Independent of women, there are just as many who believe women can do the job as those concerns, I can’t help but notice a lack of representation of well or better than men. So I have never let my gender hold me back. women of color in leadership roles in the industry. I think it would be Being a woman empowers me. In fact, as women, I believe many of inspiring to see someone who looks like me excel and be recognized us are gifted with great attention to detail, we are multi-taskers, and for accomplishments on the same scale as men, especially in a we are creative. In marketing and public relations, those skills are professional capacity. critical for helping companies create memorable, unique and Jane Mason: There is a level of unintentional bias and a lack of compelling messages about their products and services so they can credibility given to women leaders, and I’ve experienced it firsthand. be better seen and heard. I have, therefore, always considered my These behaviors need to be acknowledged before they can be gender a strength. conquered. However, while I expected to experience bias as a female Samir Dedhia: There have not been any blatant obstacles, but there entrepreneur, it has not been a deterrent for me. This barrier can be have been challenges that anyone would face in any industry and overcome through tenacity, perseverance, maintaining belief in one’s what we’ve done is decided to celebrate being a minority and found vision, and understanding that you have to set aside bias and be a niche market where we can support each other. Being South Asian, willing to act differently. At the same time, our industry and all a lot of our initial clients were South Asian, but we’ve taken that organizations, need to continue placing diversity at the heart of their platform and grown into a national company. strategic goals. Stephanie Guizar: I have never had an experience where I faced Danielle Panno: I feel privileged to be able to say that I have not explicit obstacles, but I have had to put extra thought into how I faced many obstacles specifically relating to being a female in a react or respond for instance to an e-mail or a conversation. Lets’ male-dominated industry. I have been surrounded by colleagues and face it, in general, most women have had to superiors (both men and women), who have deal at one time or another with insensitive empowered, motivated and guided me in a humor and/or unwelcomed remarks in an very uplifting and positive way. While I office setting—and women of color even wouldn’t classify them as obstacles, there more so. For example, having to censor my have been instances where I felt as though, own response and/or maintain composure to upon meeting me, specific individuals didn’t such comments, especially as a minority trust my ability because of my gender or age woman, is tasking and often something non(when I started in this business I was only “I think this is especially important as minorities simply don’t think of or must worry 19), but I am quickly able to put their lenders continue to find ways to attract about. Please understand, these reactions reservations to rest and conduct business as Millennial buyers! Having a younger and behaviors go well beyond the office or usual without any impediments. individual who a Millennial buyer could the mortgage industry for that matter. Again, Joni Pilgrim: When I started my company, I connect to is extremely beneficial in the general fear for me on a personal level is was 26-years-old and had very little establishing a relationship and closing that my own reaction will be misinterpreted, experience. Being young and inexperienced deals.” or perhaps even considered bossy, catty or in an industry that (at the time) was led by Stephanie Guizar insubordinate. That all being said, while those folks nearing retirement age and not ready Corporate Marketing Team Lead PRMG concerns do enter my mind, I always do my for the new wave of technology that was best to conduct myself in a manner whereby I coming, was a major obstacle in and of itself.

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DIVERSITY ROUNDTABLE DISCUSSION 2020 I knew that I loved being in the appraisal business and that there was a market for what I wanted to do. Since then, women have gone from a small part of the business community to a significant and fast-growing segment. Four out of every 10 businesses in the U.S. are now female-owned, and of those more than nine million people are employed by female-owned business. I don’t view it as an obstacle, but as important and valuable, as women have a lot to share by way of business practices and impactful leadership.

experience, quality, risk, compliance, efficiency and cost containment are some of the benefits to digital transformation. The cost to originate loans has doubled in the last eight years, which continues to squeeze profits. A process and technology transformation will be necessary to lower “I have been very fortunate to have had origination costs. I am proud to be working great mentors in my career (both men and for an organization that understands the women) who valued my opinion, knowledge importance of adopting digital solutions and experience. I would like to pay it and remaining relevant. forward and be a mentor to the next Brianna Martin: One of the most pressing generation of mortgage professionals.” issues in the industry is the misconceptions Twyla Hankins that, if you don’t have an extremely high EVP of Operations What are some of the industry’s most paying job and A-1 credit, you can’t own a American Financial Network Inc. pressing issues at this time, and what can home. Those who have grown up be done to solve them? impoverished have not been properly Rosalie Berg: From a business standpoint, I educated on their potential of being a think one of the biggest issues that companies face today is being homeowner. As an MLO, your civic duty is to get out and speak to able to separate themselves from all of the noise. We live in a time those in the community and educate them. Schedule 30-minute to when we’re all being bombarded with messages, whether they’re one-hour sessions at community centers to talk to local people coming through articles, ads or videos, and whether they are on about their ownership goals and how they can obtain them. social media, on our phones or on our computers. With everyone’s Jane Mason: I think diversity is one of our industry’s most pressing attention spans growing shorter, standing out is an enormous goals, considering we still have a long way to go before women challenge. That’s where great marketing and public relations come in. and minorities are represented equally at leadership levels. One It’s not enough to offer the best product or service. Companies need way this can be solved is by understanding and continuing to focus to make sure the world knows about them, and that their message is on the mounting evidence that shows a commitment to diversity heard. In today’s very competitive marketplace, blending in and pays off in a company’s performance. For instance, Harvard laying low are risky tactics. So the key is to make sure your website, Business Review has found that diverse and inclusive organizations your sales presentation, your brochure, your business card, and your have better financial performance and produce greater levels exhibit booth really impress your prospects—and that when they are innovation. McKinsey, a global consulting firm, did a study that reading industry news and blogs, they are reading about your found organizations with greater racial and ethnic diversity among company, not your competitor’s. their top managers and directors were 35 percent more likely to Samir Dedhia: A year ago, I would have said the industry’s ability to achieve better financial performance than their competitors. So adopt new technologies, but I feel like the industry has come a long simply from a performance standpoint, diversity should be a priority way and we’re seeing new developments daily. I do think there is still that is included within the policies of all financial institutions, as some apprehension among the consumer in the idea of getting a well as within the policies of their partners and clients. And it mortgage so I think delivering a better consumer experience would should especially be a priority when it comes to who is represented be at the top my list. in senior executive teams and on corporate boards. Stephanie Guizar: Embracing change. Everyone knows that change Danielle Panno: In my role as vice president of business at Prime is hard to come to terms with, but we must. Embracing Millennials as Choice Funding, I get an inside look into the compliance and serious buyers is a must. Many are forced to move back home after business development side of the industry. Management and graduating with incredibly high amounts of debt and often feel communication between regulators and business owners or discouraged or believe they are incapable of qualifying for a home compliance managers are problems that I experience daily. At the loan because of their debt. This is a whole market of homebuyers end of the day, most companies want to do the best they can to waiting for the opportunity and education to take the next step help their borrowers and offer competitive products, all while towards homeownership. I suggest that lenders and loan officers remaining in compliance. Regulators and companies need to meet reach out to high schools, college and/or in the middle and embrace the technology universities in their area and ask for an that has taken over the mortgage industry. opportunity to present at the campus’s Better and more open communication, career center. Take the time to get to know efficient examinations and regulation these individuals and understand their enforcement, and general oversight concerns as they approach their graduation improvement should be a priority for both date and let them know they have the regulators and companies alike. potential to be a homeowner, despite their Joni Pilgrim: I get asked all the time if I “Although to be successful in the mortgage debt! Secondly, embracing technology is think there will be another housing crash profession, one must be able to build profound. Whether creating videos or using anytime soon. It’s almost inevitable that it relationships with their borrowers and their an online chat feature on your Web site, comes up in conversation when I meet teammates, they should also be well-versed in these are instrumental in ensuring you remain folks who find out that I work in the real navigating the digital channels they need to on the map. Combine technology and a estate appraisal sector of the mortgage market themselves, such as endorsed personal touch, and you will remain top-ofindustry. Even though the crisis occurred platforms, CRM tools and marketing portals.” mind and ahead of the curve in the industry. more than a decade ago, it is still very Brianna Martin Twyla Hankins: Digital transformation is a much on the minds of most Americans, Corporate Marketing Communications PRMG must for the mortgage industry and is long especially those looking to purchase a overdue. The improvements in customer home. The fear that this could happen

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DIVERSITY ROUNDTABLE DISCUSSION 2020 again, especially with recession predictions in the media, has put the fear into many who have hit the pause button on making a home purchase. Tighter lending standards have helped to mitigate this crisis from happening again, but the average borrower is still skeptical. If you weren’t impacted by the housing crash, you likely know someone who was. I think better education for the borrower is imperative to maintaining a healthy market for many years.

to compliment, restructure and modernize their methods. I would like to see more techsavvy individuals enter the industry. Although to be successful in the mortgage profession, one must be able to build relationships with their borrowers and their teammates, they should also be well-versed in navigating the “I think diversity is one of our industry’s digital channels they need to market most pressing goals, considering we still themselves, such as endorsed platforms, have a long way to go before women and CRM tools and marketing portals. minorities are represented equally at Jane Mason: There is always room for more leadership levels.” improvement. Our industry has a growing Jane Mason number of resources that help promote CEO and Founder What is being done to bring more diversity diversity, including the MBA’s Path to Clarifire to the mortgage profession? Is there more Diversity & Inclusion Scholarship Program, that can be done in this department? which awards educational scholarships to Rosalie Berg: Generally speaking, the women and minority mortgage professionals. mortgage industry still struggles with Mentoring programs are also available diversity, particularly when it comes to women and minorities in through the American Mortgage Diversity Council. As leaders of executive positions. While there is more diversity than ever, there’s organizations, we can also use our professional networks or leverage no hiding the fact that the majority of CEOs and senior executives are recruiters that specialize in getting job applicants from a diverse pool overwhelmingly White males. So, there is always more we can do. of candidates. And as an industry, we should also be more active Those of us who have achieved success in our chosen fields can and about collecting and disclosing evidence-based data about diversity should support others in their efforts to advance their careers. Since I within the profession, which will surely lead to accelerated change started my company, I’ve been committed to recruiting and and adoption. Given the steady growth of all these different activities maintaining a diverse team of professionals from many different and tactics, I’m very optimistic about our industry’s future. backgrounds, as I believe it makes us a more effective agency for our Danielle Panno: More than ever, we are seeing females not only just clients—and based on the results, it’s worked. in the mortgage industry, but in top executive positions in our Samir Dedhia: From my view, I’m seeing new MLOs getting licensed industry. My company has more female managers and executives and the independent mortgage broker community growing every day. than male managers and executives. But, I think the most important I would still like to see more diversity at the top of the larger thing to recognize is that we can all bring something to the table, not mortgage institutions that have significant market share and can as men or women, but as intelligent and qualified, hard-working actually make an impact from the top, down! human beings, regardless of race or gender, and that recognition is Stephanie Guizar: I believe the mortgage industry has made huge starting to become the norm. I believe that once we’re in a position strides towards hiring more young and diverse employees. There are where a person isn’t recognized for their gender or minority status, definitely more people of color and women in the workforce. but for what they can contribute to the success of a business, we will However, I think there is still work to be done at the C-level. If people have obtained true diversity and empowerment. see a person of color with a C-level title or on a board or with Joni Pilgrim: One of the reasons I jumped on the opportunity to be company ownership, they will see that their company is truly invested involved in this roundtable discussion is because it is such an in diversity and inclusivity and be more inclined to step up in their exciting time in our industry due to the amount of resources currently own personal professional lives. Seeing is believing, and if people of devoted to the topic of diversity and inclusion in the marketplace. color see someone like themselves at the top, they will be more There are many great organizations in the mortgage industry that are encouraged to excel in their careers and their lives. putting together some of the top thinkers in the business to help Twyla Hankins: Is there more that can be done in this department? other businesses understand not only the benefits of diversity in the In the past few years, I have seen an increase in the number workplace, but how important it is to embrace diversity in order to conversations, articles, roundtable discussions and workshops grow your organization and be around for the long haul. Adopting addressing diversity in the mortgage profession. We have come a diversity in the workplace has proven to increase productivity, boost long way since I started in this business 37 morale, improve creativity, decrease turnover years ago, but we also have more work to and much more. Diversity in the workplace do. Awareness is the first step. As also leads to better relationships and executives, it is our duty to mentor and train conversations with customers, and even the next generation of leaders. We must helps tap into new markets with better focus on decisions to advocate, seek and solutions. I think if we keep talking about it, hire qualified diverse professionals. Lastly, sharing ideas and adopting new ways of we should continue to shine a light on the doing business with diversity at the forefront “One thing I have come to learn over my importance of this topic and keep it at the of building a successful culture, we all win! last 16 years in the industry is to always top of the agenda when strategizing on how expect the unexpected. As much as we try to to keep and maintain our best talent. plan and forecast, there is always something Brianna Martin: I have been seeing a surge that comes up that we didn’t anticipate.” of youngsters being brought into the industry. Joni Pilgrim This is improving the interactions within the CEO and Founding Partner mortgage space because there is now a Nationwide Appraisal Network (NAN) difference in perspective. Someone who has been doing things the same for the past 20 years now has a new set of eyes and talent

a special focus on DIVERSITY IN MORTGAGE LENDING a special focus on DIVERSITY IN MO

A Special Focus on

Diversity in Mortgage Lending Making Progress in Gender Diversity s a female executive in the mortgage industry, I am pleased to report on the progress being made in gender diversity. There are companies and trade organizations committed to increase opportunities for women in the mortgage business. There are increasing numbers of awards and events spotlighting the accomplishments of women in our industry, and providing mechanisms for networking and mentoring. And in recent years, we have even seen a marked increase in female homebuyers. All steps in a positive direction toward gender parity, for which I will gladly provide a quick guide for anyone seeking to find a place to plug in. But we can–and should–do so much more. Women earn more bachelor’s, master’s, and doctoral degrees than men, and their numbers are growing. Yet, despite the tipping scales in educational achievement, women continue to remain underrepresented at leadership levels. But the biggest obstacle that women face, according to a McKinsey Women in the Workplace 1 study, is much earlier in the pipeline, at the first step up to manager. Fixing this “broken rung” may be a key to achieving equality; an insight we should be evaluating carefully. However, I am encouraged by the progress made in our industry.


Equitable growth in government entities Fannie Mae is committed to diversity at all levels of its organization. The GSE reports that 55 percent of employees are minorities and 45 percent are women. According to Nancy Jardini, SVP, chief compliance officer and chief Office of Minority and Women Inclusion Officer, “We have gender representation at all levels, including our board of directors of which 38 percent are women.” 2 Fannie Mae’s Women’s Employee Resource Group (WERG)

By Laura Brandao

hosts events regularly on empowering topics such as career navigation, networking and advocating for yourself at work. And, the Women’s Interactive Network (WIN) employee resource group at Freddie Mac is helping the GSE to strengthen its gender diversity and inclusion initiatives. Freddie Mac is also extending its reach beyond employees through initiatives like its Vendor Academy and #LeadingTheWay, launched by Freddie Mac’s Single-Family division to focus on advancing women to leadership positions in the industry. I am personally thrilled that Donna Corley has been named executive vice president and head of the company’s Single-Family Business, as we are both among the inaugural members of a new Women Empowering Women organization. Additionally, the Federal Housing Finance Agency (FHFA) Office of Minority and Women Inclusion released its own plan announcing strategic goals that it will focus on to increase diversity and inclusion from 2019 to 2021 and fulfill the FHFA’s goal to ensure liquidity, stability and access in housing finance. And the award goes to … Mortgage banking has historically been a male-dominated industry. While women are making great strides, all too often, I am still the only woman in the room, or one of a small handful. Fortunately, trade media have instituted several award programs recognizing women leaders and several industry organizations are leaning toward inclusiveness by starting affinity groups and encouraging professionals to join women-centric networking groups. In 2019, our industry celebrated the second annual list of “Mortgage Banking’s Most Powerful Women.” Honorees were selected by National Mortgage Professional Magazine based on their accomplishments where they were instrumental to a major industry innovation, or had overcome some seemingly continued on page 50


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marketing progress in gender diversity insurmountable obstacle in their career to rise to the top. Three keywords taken into consideration: “Pioneer, Leader and Innovator,” in compiling the list of top female leaders in the mortgage profession. Our industry also saw the introduction of the “Women With Vision” awards, featuring visionary leaders from all corners of the mortgage industry who have broken ground in numerous ways over the course of their careers, and who have a proven track record of inspiring growth in others. The winners were chosen by 20/20 Vision for Success Coaching and Mortgage Women Magazine.

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Power in the pack Our numbers are growing, and there is strength and solace to be found in gathering. When women support other women, we all succeed. I am especially excited to be involved in a few industry groups since their infancy that were developed specifically to connect and empower women. The AIME Women’s Mortgage Network is a community for women in the wholesale mortgage industry to influence conversations between industry leaders and wholesale mortgage professionals across all levels. The group offers a place to discuss industry topics, celebrate career accomplishments, share personal experiences, insights, and resources. I was thrilled to host the first two events for this group, and we have a powerful WMN event planned kicking off AIME Activate in Irvine, Calif. I am also thrilled to announce the inaugural MBA Women’s Event on April 21 at the MBA-NJ Regional Conference in Atlantic City, N.J. There is still time to be a part of the first-ever MBA-NJ event developed for women, by women, featuring a power panel of inspiring women. As one of the oldest organizations of its kind, the National Association of Professional Mortgage Women (NAPMW) has been champions of the advancement of women in mortgage related professions by providing business, personal, and leadership development to

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“Our numbers are growing, and there is strength and solace to be found in gathering. When women support other women, we all succeed.”

all professionals within the mortgage industry since 1967! For decades, NAPMW has been committed to maintaining the highest standards of the profession by providing its members with opportunities that help strengthen professional skills and cultivate personal relationships. Since launching in 2018, NEXT hosts lender-centric events three times each year. Its flagship winter and summer events deliver experience-based intel on topics relevant to today’s top mortgage executives. Last but not least, mPower (MBA Promoting Opportunities for Women to Extend their Reach) is a community of 4,000 women in the mortgage banking industry who aim to leverage the power and influence of women. Another forum created for women to support and validate each other, grow and develop each other, and share ideas to educate the industry on the importance of empowering women. The rise of female homebuyers Since 2013, the National Association of Realtors (NAR) has been writing the “Homebuyers and Sellers Generational Trends Report” with data taken from the

annual “Profile of Homebuyers and Sellers.” While this report provides insight into differences and similarities across generations of homebuyers and home sellers, an increase in female homebuyers has also surfaced. In the most recent report, 63 percent of buyers were married couples, 18 percent were single females, nine percent were single males, and eight percent were unmarried couples. The highest percentage of single female buyers was found in the 54-63 years and 73 and older

age groups. This means that even though the majority of buyers in all age groups are still married couples, single females now account for 25 percent of all younger boomers and silent generation buyers.3 Inclusion is imperative Despite so many significant strides, the larger world of finance remains insufficiently diverse. However, with programs like the Structured Finance Association’s Women in Securitization initiative, among many other similar groups, even Wall Street is beginning to create some important institutional support helping women thrive in an industry that has long had an earned reputation for misogyny. I am encouraged by the efforts of such initiatives, aiming to bring enhanced diversity to the board rooms and C-suites of Wall Street firms, while convening meaningful conversations and share best practices on issues of diversity and inclusion. It is imperative for all of us to focus on inclusion at every level. It is vital to recruit, train and mentor employees who do not look like you. And for those of us who have ascended to the executive suite, it is our duty to mentor and train the next generation of leaders. We must continue to prioritize diversification at every level, and help others break through ceilings to build a better future for our industry.

Footnotes 1—McKinsey & Company, Women in the Workplace 2019 (WomenInTheWorkplace.com). 2—Fannie Mae Office of Minority and Women Inclusion (OMWI) (FannieMae.com/portal/about-fm/diversity-inclusion.html). 3—National Association of Realtors Homebuyers and Sellers Generational Trends Report (NAR.Realtor/research-and-statistics/research-reports/home-buyer-and-sellergenerational-trends).

Laura Brandao is president at American Financial Resources Inc. (AFR) and is a sought-after industry resource who shares her passion for bringing families home. Laura launched the wholesale channel for AFR in 2007, and has grown AFR into a national leader in specialized programs. With women representing more than half of its employees up to and including the vice president level, AFR is a top FHA 203(k) lender for sponsored originations in the country, and an innovator in construction and renovation lending. For more information, visit AFRCorp.com or e-mail Laura.Brandao@AFRCorp.com.




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Engaging Minority Markets e are a nation of immigrants is a statement as old as the United States. It has been used in countless speeches by multiple Presidents. The reason so many people come to America from different diverse cultures around the world is because we are known for seeking and achieving higher opportunities to make a better life for ourselves and our families. One of the reasons we are such a great nation is because we are known for providing equal opportunities to every race, culture and ethnicity that come to our great country to seek success. By the year 2030, the U.S. Census Bureau projects that American society will begin to shift away from its current demographic composition. In the decades approaching, America’s non-Hispanic White population, which has always been the majority, will start to decline. By 2060, we can expect to see the population of Americans of Asian and Hispanic descent to double. Non-Hispanic Whites are the only race predicted to decrease in size during this shift. And although they will remain the most populous race, non-Hispanic Whites will no longer make up the majority of the U.S. population by 2045 (Vespa). So, what does this information mean for the mortgage industry? No matter where you conduct your business, change is coming to the communities you serve. If you aren’t already serving minority markets, you better start looking into it and building lasting connections. Luckily, there is a multitude of ways to get involved in these communities even if you have no experience in these markets, or if you don’t speak the language. These steps may take time, but building relationships with these communities will create more


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By Mick Donahue

“No matter where you conduct your business, change is coming to the communities you serve. If you aren’t already serving minority markets, you better start looking into it and building lasting connections.”

opportunities and will better your business as a whole. 1. Get involved in professional organizations One of the preliminary ways to get involved in minority communities is to join professional organizations that serve minority markets. “You have to get all major players from vendors to companies to start aligning themselves with people who serve those communities,” said Eddy Perez, CMB, president of the 2018 National Association of Minority Mortgage Bankers of America (NAMMBA) Best Places to Work for Women and Minorities Award winner Equity Prime Mortgage. “I definitely think you need people to partner with organizations such as NAHREP, NAREB, AREAA, and NAGLREP. That’s one easy way to raise engagement and get people into the industry.” The organizations mentioned by Perez are just a few examples of the major organizations that passionately serve minority communities in the mortgage industry. NAHREP focuses on helping

Hispanic families achieve the American dream. NAREB promotes democracy in housing and serves the AfricanAmerican community. AREAA dedicates its time to promoting sustainable homeownership for Asian Americans, and NAGLREP works to educate the public on behalf of the rights of the LGBT community as it relates to housing. Membership in these organizations comes with many benefits that will help you and your business grow as you can network and connect with people that can use their resources to empower minority communities. Relationships are the key to successfully navigating your way into minority markets. Although building relationships sounds simple, it can be tough if you don’t already know someone involved in a minority community that can help you to start making connections. That’s where professional organizations come in. Each organization hosts a range of networking events so its members can connect. These events range from national conferences with thousands of

attendees to smaller, more intimate community gatherings. At each event, you will have the opportunity to interact with community influencers and build relationships to help get your name out into the community. On top of that, many of these events feature music, food, and other entertainment that guarantee a good time. In addition to building relationships at networking events, many of these organizations feature programs designed to help those looking to join their community. One example of this is NAHREP’s Consulting Services. The program focuses on connecting businesses with U.S. Hispanic consumers. NAHREP offers multiple services through the program, including marketing consulting, cultural competency training, strategic alliances, and more. It takes time to develop a market presence through networking alone. Joining programs like NAHREP can accelerate your entry into the community. If you are a company interested in expanding your business into a minority market, joining an organization may be an excellent opportunity for you. 2. Serve the community Once you’re involved in organizations and fostering the relationships you’ve built, you may still struggle to gain market share. Why? You may not have developed enough report with the community yet. Conferences are fun, and networking is essential, but talk is also cheap. You may need to do more to prove yourself to the members of the community. A solution to this is to hire from the communities you serve. Not only does this give back to the community, but it also provides you with useful information about the community. This insight may give you a competitive advantage over your competition and help you gain an edge in the market. Besides, the more you can recruit from the community and


serve its people, the less you will be seen as a business pushing a product, and the more you will be seen as a part of the community. A significant fallacy about working with minority groups is the necessity to speak the language personally. While it is essential to provide marketing materials in language to cater to your clients’ needs, it is not required to speak another language personally. The language barrier can easily be overcome by working with a translator or by hiring someone from the community you wish to serve who speaks the language. You must keep in mind that at the end of the day, your clients are still coming to you for a service. They are much more interested that you can effectively speak mortgage than their language. 3. Marketing to minorities If you’re correctly building relationships in the community and serving the community, then word of mouth marketing

alone will probably bring in a steady flow of clients. That doesn’t mean that you can’t take additional marketing measures to find more customers. When developing your marketing plan, though, you need to keep a few things in mind. First, make sure to market in language. Although you may not speak the language, there are multiple options for creating marketing materials in other languages. Second, make sure you understand the community. When The Home Depot brought its business to China, it failed miserably. Why? They assumed that the same do-it-yourself mentality that existed in the United States would exist in China. This couldn’t have been farther from the truth. If they had done some research beforehand, they could have avoided a costly mistake. Third, make sure your ads are not only targeted but utilize a soft approach. These communities are not looking to

be flooded with ads. They are looking for a relationship with a lender, and as such, your marketing efforts should reflect that. Huge potential exists for those interested in doing business with minority markets. With the future demographic happening soon, it

will pay off to get into the market early. Be an early adopter. Go network, support your local minority communities, and look into new marketing campaigns. Those who can successfully do these things will find success in the future. Will you be one of them?

Mick Donahue is a proud member of the Clemson University class of 2018. Since graduating, he has worked at Equity Prime Mortgage (EPM) as the company’s digital marketing specialist, managing EPM’s social media accounts, creates content and performs various marketing-related tasks. Outside of work, he has a passion for film photography, cooking, sports and plays on the Atlanta GAA Football Team. He may be reached by phone at (678) 205-3554, ext. 127 or e-mail MDonahue@EquityPrime.com. 53

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Diversifying the Mortgage Industry by Closing the Generational Gap of Homeownership By Stephanie Guizar & Brianna Martin

ave you ever felt that your academic education didn’t teach you how to “adult” properly? That’s such a Millennial thing to say, but after graduating college, having thousands of dollars in debt, and having no job lined up, stirred up a feeling of impending doom, so much so, it stifled the excitement of new graduates on a day when they should be celebrating. If you have ever felt this, you are not alone. This conversation is often had amongst peers. Proceeding graduation, we are forced to move back in with our parents, share a room with more than one person, work fast food jobs to make ends meet, all while having to repay the debts we accrued while pursuing our degree! And even then, we are scrutinized for being entitled and lazy Millennials … we disagree! We are not entitled and we are not lazy. We are facing thousands of dollars of debt and substantial financial plight that generations before us couldn’t even fathom at the age of 20. Having a degree in previous generations was a privilege, now it’s a necessity to obtain a decent job with decent pay. It’s not only until recently, that GenX and Baby Boomers, have returned to school and have begun to feel the growing pains Millennials experience with the constant rise of educational costs and the notion that accruing this much debt this early in life takes away their option to own a home in their near future. But this article isn’t about Millennials seeking sympathy, rather, a larger issue within the mortgage space.


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How can we diversify the mortgage industry by turning Millennials into homeowners? In recent years, the mortgage industry has been up in arms

“It’s not only until recently, that GenX and Baby Boomers, have returned to school and have begun to feel the growing pains Millennials experience with the constant rise of educational costs and the notion that accruing this much debt this early in life takes away their option to own a home in their near future.” Stephanie Guizar Corporate Marketing Team Lead, PRMG

“Navigating through an educational career, there is not much thought put into financial stability for the future—the biggest focus is passing classes and walking across that stage.” Brianna Martin Corporate Marketing Communications, PRMG

about how to get those with student debt to purchase homes. Lenders are now faced with the challenge of closing that generational gap and finding a solution to the problem. They began by taking the approach of heavy marketing via social media and making the process more convenient and appealing through technology. Though these approaches proved positive and caused a rise in revenue amongst Millennial buyers, they’re still slightly missing the mark. What about tackling the issue before there is

one? What about educating them? Navigating through an educational career, there is not much thought put into financial stability for the future—the biggest focus is passing classes and walking across that stage. Basics such as opening a savings account, taxes, retirement funds, purchasing power, etc., were never taught in high school and certainly not in college. As high school students, the curriculum lacked focus in teaching those how to obtain a financially stable future, rather, they stressed

government and state-mandated policies and regulations. In consulting with peers, they elaborated on ways they received advice geared towards their future, one being the career center offered on campus. This is where students can go and attend one-on-one’s and group workshops to assists with resume-writing, mock interviews, job applications and internship etiquette. Occasionally, they’d bring in third-party speakers and recruiters to rally the students. This is where you, the mortgage professional, steps in to save the day! Reach out to these institutions and offer your services for an hour, ask if you can host a workshop on the importance of personal finance and how they can become a homeowner. Assure them there are many programs and products out there that allow them to have purchasing power using contingent liabilities, which is a non-traditional method used by loan originators that changes the way in which someone is qualified; i.e. students with debt. This is also the opportunity to prepare them for financial stability and prime them to be the perfect buyer once they have walked across the stage. While there are several topics to discuss regarding debt and finances, here are three key points that pose the most concern. How to save (traditional savings accounts versus Certificate of Deposit (CD) accounts) Open a savings account and explain the difference between a traditional savings account and a Certificate of Deposit (CD). Also, develop a savings plan. For example, $20 a week multiplied by one year (52 weeks) is a savings of $1,040 a year. Multiply that total by the average duration of degree program (four to six years), you do the math! Take a


small percentage of their check and have it directly deposited into their savings and encourage them to save a weekly or monthly amount. Teach them to take advantage of on-campus financial institutions, as they provide better interest rates compared to locations offcampus. Instill the notion of not touching a savings account but for emergencies only! Unnecessary student debt versus necessary debt Know that higher education is expensive … we all know this as a fact. Explain the importance of taking out what is needed, versus the total amount offered. Use student loans only for education. Examine loan options Reassure prospective homebuyers that they can qualify. We must debunk the myth that “Student Debt” means “Homeownership Is Impossible!” As a financial advisor, examine all aspects of their financial profile, including credit score,

loan-to-value, non-traditional credit (financial responsibility) debt-to-income. Discuss available loan product options that fit their financing needs, in addition to downpayment assistance programs and 550 credit score loan programs. It’s also important to know your market and cater your selling model to what they find appealing. Keep your presentation light. Your audience will more than likely be hopping from class to class, so do not implement lecture-style info sessions. To ensure that you capture your audience, do your homework and find out what the most popular medium of social media they are using. Pick your favorite platform and use it as a means to stay in touch with them, as well as building a new following once the seminar has concluded, thus remaining topof-mind in the future! Now, you may be asking why should I take the time to speak to students when they won’t be able to provide me with a sale? Great

question! Just because you don’t get a sale that day, it doesn’t mean that it won’t potentially lead to one later. This is a great way to market yourself and get them familiar with you and trust you. It’s just like someone sampling a new product, they take it home, try it and come back to purchase it later. In the meantime, they have talked you up to friends and family, and as Millennials, let’s face it, we love sharing on social media. An hour of your time has now given you free word of mouth marketing and social media marketing to a whole new

audience you didn’t even know you had! This will increase diversity in the mortgage industry by attracting a younger crowd of buyers and potentially encouraging these folks to pursue a career in the mortgage industry. College campuses are meccas for diversity and inclusivity. There are students and faculty of all races, genders, age and more. We hope this inspires you to reach out to the younger crowd and put them at ease when it comes to their student debt and their ability to purchase a home in the future.

Stephanie Guizar started at Paramount Residential Mortgage Group Inc. (PRMG) in 2015 shortly after graduating from college in an administrative position for PRMG’s National Marketing Department taking on more tasks and responsibility as time went on eventually being promoted to corporate marketing team lead. In this role, she is responsible for managing projects and the day-to-day tasks of the department to ensure success for the department and ultimately for the company. Brianna Martin has been a part of PRMG since 2018, with an entry level position as an appraisal administrator and since then, has moved up to the Corporate Marketing Department as corporate marketing communications. She hosts various department Webinar training sessions, produces written content for the company blog and social media, as well as writing press releases. 55


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How to Recruit and Retain a Diverse Workforce ith the U.S. population and the housing market becoming increasingly diverse, appealing to borrowers from different cultures and generations has become a top priority for many lenders. One of the best ways to do this is by creating a more diverse workforce, or one that reflects a lender’s customers. After all, borrowers are often more comfortable working with a loan officer who thinks and behaves the way they do, whether that means someone from the same generation, culture or ethnicity. That’s why “diversity and inclusion” have become popular buzzwords in today’s mortgage industry. But creating a diverse workplace isn’t just about hiring loan officers and underwriters from a variety of cultural or generational backgrounds. It’s also about finding ways to keep all employees happy and satisfied with their work—and your company—so they will stay. In other words, your efforts should not stop at the recruiting stage, but continue throughout the course of your employees’ careers. This article will examine and describe the steps lenders can take to attract and retain people from diverse backgrounds, starting with why it’s


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the fact that the nation’s Millennial and Generation Z generations are the most diverse in history. Only 56 percent of the 87 million Millennials in the country are White, compared to 72 percent of the By Paul Buege Baby Boomer generation, according to statistics compiled from CNN Money. And according to Pew Research, the next generation of homebuyers– Generation Z, or people currently between the ages of eight and 23–is even more diverse. Nearly half of Generation Z are racial or ethnic minorities. Obviously, someone in middle school isn’t likely to call you looking for a fixed-rate loan anytime soon. But the point is lenders should be prepared for the fact that future homebuyers are going to be even more diverse than they are today. Because borrowers often feel more at ease working with loan officers they can relate to, it’s important that your workforce reflects all of the borrowers you are trying to reach. However, that’s not the only reason why it’s a good idea to pursue diversity. Diversity and inclusion are good for the bottom line, too. In fact, a number of studies have found that a diverse workforce leads to innovation and a stronger financial performance. Research from global consulting firm McKinsey, for example, has found that companies that rank in the top 25 percent when it comes to gender, racial and ethnic diversity are critical for mortgage companies to do are more likely to be women, Asian or more likely to have financial returns so. Hispanic Americans than at any previous point in history. Most lenders above the median for their industry. Companies in the bottom 25 percent in The importance of creating are also aware that Millennials have a diverse workforce become a force to be reckoned with as diversity, on the other hand, are statistically less likely to achieve aboveAs we all know, the demographics homebuyers and members of average returns. underlying the housing market are Generation Z are not far behind. Yet another good reason for changing rapidly. Today’s borrowers What may not be as well-known is mortgage lenders to focus on hiring minorities and women is the Dodd-Frank Wall Street Reform and Consumer Protection Act. In June 2015, the CFPB and other federal regulators set standards to measure whether financial institutions regulated by the federal agencies are encouraging diversity in their policies and business practices. This intention is reflected in Section 342, a little-known provision of the law that directs financial institutions and their vendors to diversify their workforces to include minorities and women to the maximum extent possible. Numerous studies have also shown that a diverse workplace is one of the main factors potential employees take into account when considering a job. And it’s even more important to minority candidates than to White, male candidates.

“Because borrowers often feel more at ease working with loan officers they can relate to, it’s important that your workforce reflects all of the borrowers you are trying to reach. However, that’s not the only reason why it’s a good idea to pursue diversity.”

Encouraging diversity in the workforce Many lenders would like to build a more diverse workforce, but are unsure where


Retaining a diverse workforce All of your efforts to recruit and hire a diverse workforce will be for nothing if you’re not able to keep the people you hire. The strategies for retaining minority employees are often the same as those for employee retention in general. Below are just a few. l Provide economic incentives: All employees appreciate raises, bonuses, retirement savings plans and other perks, but studies have found that benefits packages are a major incentive for women and minority employees when it comes to deciding whether to stay with their current employer. l Let them lead: Offer employees projects that are directly tied into your company’s mission and vision. Work assignments that have higher visibility within your organization give employees greater job satisfaction. Also, set people up for success by offering educational and coaching opportunities, so they can achieve their professional and career goals. l Think “family:” Help all employees feel a sense of belonging by creating an environment where they feel comfortable being themselves. Also, make sure to establish family-friendly workplace policies, which are effective at retaining all employees. l Make teamwork a priority: Encourage friendly and cooperative relationships between supervisors and employees. People value a collaborative approach in their work and being on teams.

Paul Buege is president and COO of Pewaukee, Wis.-based Inlanta Mortgage. Paul has more than 35 years of experience in the mortgage business, and is an expert in recruitment, business development and growing sales. Under Paul’s leadership, Inlanta Mortgage has received numerous awards and accolades, including multiple times as a Top Workplace in the mortgage industry. He may be reached by e-mail at PaulBuege@Inlanta.com.

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The bottom line Everyone can agree that diversity is important and a worthwhile goal. But the reality is that creating true diversity in your organization takes work. It can’t just be about the image you project. For there to be lasting success, there has to be a real strategy involved, and the results must be continually measured for effectiveness. If you’re willing to put in the time and effort, the rewards are well worth it.

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to begin. There are plenty of ways to get started. One of the simplest ways is to target your recruiting efforts in areas where you’re likely to get a more diverse pool of candidates. You can start by researching the markets where you’re currently hiring to determine which demographic groups are the most prevalent, then focus your efforts in the places where you’re more likely to attract minority applicants. Perform research on what different demographics groups are looking for in an employer. What Asian-Americans want from an employer may be different from what Hispanics want in an employer. Another common strategy is to make sure that the marketing materials you use in your recruiting efforts reflect the diversity you’re trying to achieve. For instance, the career section of your website and the messaging and images used in it should incorporate different cultures, ethnic groups and age groups. The same goes for brochures, flyers and emails sent to potential employees, which should have messages that will resonate with the people you are trying to recruit. Studies have found that the language you use in your job descriptions can help attract or turn away diverse candidates from applying to open positions. For example, to attract more female candidates, it may be wise to avoid language that is overtly masculine, such as “aggressive” or “competitive.” To make sure your commitment to diversity will stick, it’s important that your company’s leadership is actively involved in your diversity and inclusion efforts. According to the Mortgage Bankers Association’s (MBA’s) Diversity and Inclusion (D&I) Resource Center, which provides lenders with tools for developing more diverse organizations, having the support of the company’s CEO and senior managers sends a clear message that your company takes diversity and inclusion seriously and are willing to “Walk the Walk.” Yet another strategy is to consider who your recruiters are. Do they reflect the people you’re trying to hire? Minority candidates may be more reluctant to accept a job if they don’t see a diverse range of employees during the interview process.

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Building Diversity Among the Ranks Requires Out-of-the-Box Thinking

By Liz Monahan

ortgage borrowers are diverse, coming from all walks of life. Some live in the city, others settle down in the suburbs. Buyers are multi-generational, single parents or young couples purchasing their first home, covering all nationalities and ethnicities. The needs of these diverse mortgage borrowers are as unique as their backgrounds. In contrast to the Baby Boomers and the Silent Generations that preceded them, one in four of today’s homebuyers are single females, according to the National Association of Realtors (NAR). As a result, they differ from Generation Xers, who are more likely to buy a multigenerational home. Meanwhile, homebuyers between the ages of 39 and 53 are the most racially diverse, with 22 percent identifying as Hispanic, Black or Asian. In order for the mortgage industry to adequately serve this diverse group of borrowers, lenders should be equally as diverse. For a little more than a year, NewRez has been in growth mode, hiring at a record pace. This year alone, we target adding more than 1,000 to the approximately 3,800 NewRez employees located across the country. Driving all of our hiring is the understanding that we need to continue to foster a diverse workforce that is representative of the clients we serve. It goes beyond race and gender. It is about how people think and what their unique experiences and backgrounds are. If we are not relatable to prospective customers, there is a real likelihood they will take their business elsewhere.


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Experience not required Fostering diversity can prove difficult in a tight labor market where competition for talent is fierce. Using traditional recruitment methods only yields

partial results. Often, it requires applying out-of-the-box approaches to reach a truly diverse set of applicants. To achieve our diversity goals, we are continually devising new recruiting strategies to supplement the traditional mix of hiring techniques. We know it is not enough to run ads on the popular job boards, post employment opportunities on social media, and recruit at college campuses. In order to reach potential employees in the markets we serve, we have to break the mold and apply unique approaches. “The Lab” is a great example of how we are innovating in this way. Launched in January 2020, The Lab is a recruiting program aimed at reaching people who may not have mortgage experience, but who are interested in working in the field, such as a stay-at-home mom who is interested in starting a business, or a college graduate who earned a degree in literature but has always had an interest in real estate finance. We are tapping into individuals who want to join the industry and learn the ins and outs through an intensive training program. With The Lab, it does not matter where interested individuals came from or what their mortgage experience is; we are not restricting ourselves to experience in a particular industry, certain skill base, or educational focus. That gives us a competitive advantage by creating a greater and more diverse talent pool from which to draw. Partnering our way to diversity When it comes to recruiting mortgage professionals, a normal course of business is to network and recruit through industry associations. It is a relatively easy way to hire experienced workers, but often the gains are short-lived. Another offer comes in and that employee you just recruited is out the door. It also limits the new hire diversity if you are

repeatedly drawing from the same resources. In order to move beyond recruiting from within the industry alone, we have been partnering with non-profit organizations that serve the markets in which we operate. Through partnerships with organizations such as the National Association of Minority Mortgage Bankers of America (NAMMBA) and Veterans on Wall Street (VOWS), we are able to build awareness about our brand and spread the word that we are hiring. This approach enables us to cast a wider net which is key to building a diverse workforce. But the community outreach does not stop there. Our NewRez NOW (Neighborhood Outreach Works) charitable giving community incentive program enables us to forge relationships with community members across the country and provide employees with a powerful way to give back. Run by our employees, NewRez NOW is a program that pays workers to volunteer their time through VTO (Volunteer Time Off) and matches contributions employees make. It is not only an effective selling point when recruiting, but it also puts us in front of an audience we would not have access to if it were not for our employees. That serves to expand our pool of candidates, ensuring diversity is always front and center in hiring decisions. Leading by example Diversity is not something an organization can simply pay lip service to. It has to be woven

into the fabric of the company in order to attract diverse workers and keep them with the organization. As of today, our workforce is comprised of 60 percent women, while 60 percent of our frontline supervisors are from diverse backgrounds. Our diversity is visible throughout the organization, whether in the customer service department or the boardroom. It is also in the benefits we offer employees. Recruiting a diverse workforce requires us to provide benefits and perks that appeal to different demographics. Our new parental leave benefit is an example of just that. Going into effect in March, employees who have a child, whether through birth or adoption, receive four weeks of paid time off. It is not a mainstream benefit but it is something our employees expressed a desire to have available. It is not particularly expensive for us to offer, and it shows our employees that we want them to spend time with their families. Without a doubt, creating a diverse workforce takes significant time and effort, but the return can be considerable. The U.S. is a melting pot of race, gender, ethnicities, cultures and experiences. To aid these diverse individuals in their paths to homeownership, we need to meet them with personnel who are equally as varied. Without a focus on meeting the needs of everyone, a mortgage company’s ability to grow will be greatly hindered.

Liz Monahan, senior vice president and chief HR officer at NewRez LLC, has more than 25 years of experience in human resources. Throughout her career, she has served as a human resources leader for a variety of companies, including those in the residential property, software, and financial industries.




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The Evolution of Women in Homeownership By Kelcey Brown

he year is 2020. There are women running for President, running successful companies, following their dreams and thriving. Two hundred years ago, this wouldn’t have happened in anyone’s wildest dreams. As a whole, it is easy to forget how hard Americans had to fight for the rights that exist today. In fact, the first gathering devoted towards women’s rights in America didn’t begin until 1848, and by 1911, International Women’s Day was developed. On March 8, women all over the world are recognized. With that being said, there’s no better time to celebrate and empower women than right now, especially in the housing industry. Dating back for centuries, women were expected to rely on men for almost everything. Typically their roles were strict; women were expected to care for their families, have meals prepared for their families, clean their homes and basically be stay at home mothers and wives. More specifically, it was rare for a woman to live alone without a man there to “take care” of her. Women married young, and typically went from living with their parents to living with their husbands. Fast-forward to today where it is completely normal for women to move out on their own, pay their own bills and live their own life. Some would suggest that females are even more independent and responsible than males. According to a 2018 Forbes article, single women have been buying condos and homes at more than twice the rate of single men, and show no signs of slowing down. Single women make up the second-largest segment of homebuyers after married couples, in which women tend to be the majority influencer in homebuying decisions. It was not too long ago that women were facing discrimination in


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homeownership. Many people don’t realize that it has only started to truly improve in the last 40-50 years. Now, in 2020, single women are opting for mortgages before marriage. They care much more about their own stability, and being able to provide for themselves than anything else. Women are putting their careers and personal development before making the decision to settle down and build a family. They are creating a life for themselves; one that they can survive in with or without a significant other. This is something that every person can take pride in. There is now a world in which every person can be who they want to be, and make decisions based on their own wants and needs. Women have more to offer than the stereotypical home cooked meal and housekeeper duties. This can be partially attributed to the fact that marriage is now seen very different than it was a few decades ago. Marriage is now a choice, rather than a requirement for young women. Just as there is nothing wrong with anyone who chooses to live by their traditional domestic roles, every person has a choice. That’s what really matters here … no one is telling women how they have to live their lives anymore. That choice is all theirs. In addition, while monthly rent amounts on the rise, becoming a homeowner is a great way to make an investment. Some may argue that it is simply easier now for a woman to live on her own since the average wages have increased 67 percent since 1970, however there are a lot of other factors to consider. Rent prices, home values, college tuition and the cost of living is also much higher, making homeownership an incredible accomplishment. In fact, a 2018 CNBC article states that the average rent has gone up 750 percent from the 1960s to the 2000s. Adjusting for inflation, that percentage still weighs heavy at 46 percent. Due to this, women recognize that homeownership is a much better investment, allowing for new

opportunities that come hand-inhand. Therefore, the fact that single women still make up the second-largest segment of homebuyers is outstanding, impressive, and it is a wonderful demonstration of how far America has come in terms of gender equality. Single women are reformatting American politics and the economy as a whole. Women are now taking their financial independence to a level some never dreamed of by investing in a home for themselves to secure an investment for their future. It goes against what used to be the societal norm, but sets them up for a lifetime of financial security all the way into retirement. Clearly, women can see how many benefits come along with homeownership such as building equity, tax deductions, their financial stability, and they are now embracing that new adventure in their lives. Unfortunately, even with all of this positivity and progress amongst the nation toward equality, women are still not being treated quite as fairly as men. CNBC released another article in January 2020 which analyzed data from more than 50 million home sales between 1991-2017. It was discovered that single women are still paying two percent more, on average, for the same house as a single male. This research shows the same evidence for a single woman selling her home as well. Their houses end up selling for two percent less than the average single male’s home. This is a domino effect, as women lose out on this money, thus impacting

their ability to save for retirement or other financial goals. Now, this could be attributed to a number of things, possibly even items that don’t directly indicate a gender gap. For example, there are more single mothers than there are single fathers, and they may be inclined to buy or sell more immediately dependent upon the circumstances, taking any offer they can get. However, on a more negative note, this could be a direct result of gender discrimination. The possibilities are endless, but still relevant. It somehow always connects back to there still being that slight inequality amongst genders. Overall, a great amount of progress has been made since the first gathering for women’s rights began in 1848, but there is still work to be done to close the gender gap. Today’s generations of women have made a seriously positive impact on all aspects of American life, but it will take everyone’s effort to close the gap for good. In the housing industry alone, women have fought their way to the top, becoming more independent and inspiring others to become homeowners themselves. Unfortunately, girls and women across the globe experience some form of discrimination due to their gender that could eventually affect their ability to pursue their life choices and fully benefit from opportunities for empowerment. Not all countries have come this far, opening the door for women to make a difference. While America has come a long way in the last 150 years, not all countries can say the same. So, for International Women’s Day, let’s appreciate and celebrate the women of not only this wonderful country who have brought the housing industry to where it is today, but also the ones that are still fighting to get to this point.

Kelcey Brown is chief strategy officer and executive vice president at WebMax, responsible for developing, communicating, executing and sustaining strategic initiatives. He acts as a key advisor to the company president on critical changes in the competitive landscape, internal employee development and the external business environment, while also ensuring that appropriate metrics are in place to measure performance and progress towards strategic goals. Brown is also accountable for spearheading the success of our clients by developing and managing product training and growth initiatives.


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Recap of key economic events that took place over the past week and a look ahead to events that will potentially impact interest rates in the housing market.


Master the Markets with Barry Habib


a special focus on DIVERSITY IN MORTGAGE LENDING a special focus on DIVERSITY IN MO

Break the Monotony: Building a Diverse and Inclusive Workforce By Quincy Amekuedi

magine driving through a new development where every home is painted the same color and built on the same floorplan. Real estate agents would have a tough time selling homes in a neighborhood where every home was identical. On the other hand, a vibrant neighborhood, full of complementing but unique colors and diverse floor plans, can attract more buyers looking to set down roots and put their personal touch on their home. The same can be said for employers. For mortgage companies, having a diverse and inclusive workforce is more than just an aesthetic preference. A diverse workforce provides lenders immediate and tangible benefits. A recent study of 1,000 companies across 12 countries by McKinsey and Company found that companies in the top quartile for gender diversity on their executive teams were 21 percent more likely to experience above-average profitability. Meanwhile, companies with greater ethnic and cultural diversity benefitted from a 33 percent increase in performance. Why the performance increase? Lenders that employ a diverse workforce benefit from diverse viewpoints and perspectives, which can help the company develop better products and create a better customer experience for all borrowers. Medium’s article, “The Top Five Workplace Diversity Statistics,” highlights additional benefits of diversity, including more innovation, better decision making, and higher rates of job offer acceptance. Understanding the value of diversity empowers mortgage leaders to make the strategic decisions necessary to increase their company’s inclusion efforts. Building a comprehensive diversity and inclusion program begins with a thorough understanding of


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“For mortgage companies, having a diverse and inclusive workforce is more than just an aesthetic preference. A diverse workforce provides lenders immediate and tangible benefits.”

diversity. From there, leaders can determine what their organization can do from an internal and external perspective to attract all qualified candidates and foster an inclusive organization. Define diversity and inclusion: More than gender or race A common misperception is that diversity and inclusion solely refer to gender or racial considerations. While these are the most visible factors, a truly diverse workforce is one that embraces all ages, races, religions, nationalities, sexual orientations and genders. A diverse workforce is just the first step. Mortgage lenders must also recognize the value of inclusivity, which is a company culture where people from all backgrounds are not only present, but valued. Inclusivity is the key to maintaining diversity in the workplace. For example, if a mother returning to work following maternity leave has no space to pump breast milk, or a

Muslim employee is insecure about maintaining his daily prayers on company grounds, a company may be considered diverse, but not inclusive. If employees feel they must hide core parts of themselves at work because they feel unsafe or unwelcome, it will take a toll on their motivation and engagement. The challenge of creating a diverse workforce is making complete inclusion a strategic priority. If a lender focuses all their diversity efforts on creating a more equitable company when it comes to gender balance, they may unintentionally widen the racial or religious gap. While it is very important to ensure gender equality, it is just as important to ensure all represented groups are valued by the company. On the surface, the task seems challenging. However, with an intentional commitment to diversity and inclusion, lenders can ensure their organization is attracting qualified candidates from all walks of life and creating a culture that encourages their growth within the company.

Start at the top Step one to creating a diverse workforce is to evaluate the current state. Take a step back and consider how the company looks to an outsider. Is there a diversity and inclusion team? Are there employee resource groups that celebrate a range of diverse perspectives and provide internal assistance and guidance? Does the company Web site, social media platforms and marketing materials reflect a diverse image? Too often, mortgage lenders assign diversity and inclusion projects solely to human resources. But a commitment to diversity must be embraced by all leadership. Consider the diversity of the executive team. Are men and women equally represented? What about people from various cultural and religious backgrounds? The makeup of your top leadership is a huge signal to the rest of the company, potential employees, customers and stakeholders. The organization’s leaders also can demonstrate their commitment to diversity by creating internal diversity and inclusion teams that incorporate members from across the organization. These teams can focus on sharing the importance of inclusion across the organization through educational events, seminars, and more, while touting their commitment to diversity throughout the company and playing a role in the hiring process. The diversity team also can help lenders evaluate external communications to ensure all materials and messages within the organization promote inclusion. Both internally and externally, the company should have visual representation that diversity and inclusion is a priority. Make the most of your internal data Another critical step to


building a diverse organization is to look at the data on existing employees. Lenders can evaluate the level of diversity not only across the organization, but also look for imbalances in specific areas. For example, does the accounting department have significantly more women than men, or are there a lack of Spanish speaking employees in the customer service department? Without taking a deep dive into the data, lenders may only be making assumptions and risking only making surface level decisions about diversity. This data should encompass everyone in your organization, including remote employees. By looking at the staff makeup in full, the diversity and inclusion team and HR department can make appropriate decisions on how to engage in outreach opportunities to diverse potential job candidates. The goal is not to make hiring decisions based upon the

diversity of any particular person or group, but to ensure that all individuals and groups are made aware of employment opportunities, encouraged to apply, and given fair consideration based on their talents and qualifications for the position. Attract a diverse workforce Once lenders have evaluated their internal data, it is time to cast a wider net for candidates. The best way to communicate a commitment to diversity is to proactively reach out to strategically build relationships with the training programs and universities that could help build a stronger workforce. For example, the hiring and diversity teams can build relationships with colleges and universities that graduate qualified candidates from diverse backgrounds, such as historically African-American universities or Hispanic-serving institutions. Lenders also can invest in improving their reputation and

recognition within their market by participating in local events that celebrate diversity. For larger organizations, there should be plans in place from a local, regional and national level to spread the word about the importance the organization places on diversity and the jobs available. The goal is to connect with individuals of diverse groups and ensure the lender has access to qualified candidates from diverse backgrounds. Common options include sponsoring, volunteering or partnering with specific conferences or working alongside event coordinators that target a specific audience to help associate the company with the various groups. Make first impressions count Once a lender identifies the changes they would like to make, how does the hiring team make sure the hiring process supports the message

of diversity and inclusion? From the first step, the hiring process should live up to the expectations of being inclusive with a diverse panel of interviewers. Make sure that panel also is made up of individuals from all levels in the organization. If that is not possible due to the current structure of the hiring team and executives, then utilize employee resource groups in the interview process to share information on the organization. In addition to the hiring and onboarding processes for new employees, let your organization’s current employees know that diversity is celebrated and acknowledged. Consider instituting programs that invigorate, celebrate and incorporate women, people of color, differing abilities or different socio-economic backgrounds, for example, and share those programs across continued on page 64



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break the monotony: building a diverse and inclusive workforce your communications channels. Include current employees in the outreach Another way to increase diversity within the organization is to utilize current employees in your recruiting efforts. Many of your current employees may know good candidates for the roles that need to be filled. Incorporating employee referral programs help with outreach and reward employees for their assistance in the process. Companies can develop partnerships and work with organizations or contacts that can help source a diverse slate of candidates for the job. Another way to get your organization’s employees involved is to collaborate and showcase diversification. Honor employees’ heritage

and celebrate achievements to reenergize employees and show that their work is making an impact. At the end of the day, lenders have to be intentional about making sure every person is valued. Inclusion at its finest Diversity and inclusion are important and should be an important area of emphasis for the entire organization, starting with the hiring process. With help from internal data and resources, as well as outside organizations that assist in reaching diverse audiences, obtaining a fully diverse employee base is a lot easier than most would assume. By building a truly diverse workforce, lenders draw attention to their organization as being a top place to work by promoting acceptance and celebrating differences. In addition, lenders benefit by

tapping the creativity, innovation and perspective of different mindsets and backgrounds to help the organization grow and become more profitable.

continued from page 63

The statements provided are the opinions of Quincy Amekuedi and do not reflect the views of Genworth or its management.

Quincy Amekuedi is the recruiting leader for Genworth Mortgage Insurance, where he works with various business partners to set strategies for recruiting, employment branding, and diversity and inclusion across the organization. He earned a bachelor’s degree in Brand Management and Marketing from North Carolina State University and joined the staffing and recruiting industry in 2012.

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the local or state level such as the MCC (Mortgage Credit Certificate), which provide tax credits for some part of the interest payment. Most of these programs feature fixed-rate mortgages and have interest By Kelley Ross rates lower than the current market. here are few things The bottom line is that more fundamental to homeownership is more the American Dream accessible than some may than owning a home. realize. The median Becoming a downpayment amount for firsthomeowner is a time homebuyers was six defining moment in the lives of so percent, according to the many families and individuals. National Association of Realtors For some, however, the dream (NAR), who also reported that of homeownership seems like an first-time homebuyers are unrealistic fantasy. Whether due responsible for an impressive 33 to financial challenges or percent of all home purchases. personal circumstances, buying a When it comes to loan home can feel like it is out of products, FHA loans typically reach. For a long time in this have lower interest rates, more country, single women were a relaxed credit-score qualification demographic plagued by those standards, and require less doubts—and for good reason. money down—an appealing Traditional social structures and proposition to a woman gender roles relegated many purchasing her first home on a women to the role of the single salary. The downside is a supportive spouse, and women higher mortgage insurance who owned their own home made premium. up a relatively small subset of all One particular type of FHA homeowners. loan, an FHA 203(k), is Happily, that outdated mindset potentially a great fit for many has changed, and empowered women looking to buy a home. women are taking charge of their An FHA 203(k) loan enables new own financial and homebuyers to finance their Loan products for female for a sizable profit 18 months homeownership future in a big home purchase and their home homebuyers later. I was off and running. way. Single women are buying improvements in a single Buying a home on one salary is Today, as vice president and houses at a rate that significantly branch manager, my own positive almost always going to be trickier mortgage loan. Under the 203(k) exceeds that of single men. In loan program, the home is than when buying as a twoexperiences as a homeowner fact, single women have made up continue to influence the way I do income couple or family. Single appraised before rehabilitation between 18 and 20 percent of all my job. I am deeply committed to moms face particular challenges. takes place, and the total loan homebuyers over the past amount is based on what the helping others achieve that same The good news, however, is that decade, a figure that is double projected value of the home will there are plenty of options unique sense of security, the share of single men who own independence and satisfaction be once those improvements available to allow single-income their own home. have been completed. By that owning a home unlocked for buyers with a reasonable degree providing affordable financing to of financial independence to me—and that commitment is Extraordinary benefits acquire the property, as well as purchase their own home. especially urgent when I am My own homeownership journey additional funds to improve the Basic details like income level working with female homebuyers. has given me a personal and credit score are always going property, a 203(k) mortgage Whether it’s a young woman appreciation for the life-changing buying her first home, or an older to be important when qualifying helps homebuyers who are impact of owning a home. purchasing a house in need of for a home loan. But there are woman, perhaps fresh off a Frankly, as a young professional, divorce, navigating the borrowing plenty of lending options and repair or modernization to avoid the idea of getting married at that and homebuying process for the costly high interest rate, interim programs out there that are stage of my life made me loans and time-consuming particularly well-suited for firstfirst time, I feel a keen sense of nauseous. But as dubious as I paperwork. For women who may time homebuyers and singlekinship and a strong desire to was about that institution, I was income purchasers. Many states, have very specific ideas about help them achieve their enthusiastic about the prospects what they want their home to counties and cities provide lowhomeownership goals. of owning my own home. I look and feel like, receiving the to-moderate housing finance I have had plenty of recognized it for what it was: The opportunities both personally and programs, downpayment money to acquire and improve a kind of long-term investment that professionally to reflect about the assistance programs, or programs property in one loan is potentially would give me the financial an ideal scenario. Improvements importance of homeownership to tailored specifically for first-time security and independence I was buyers. Generally speaking, these such as painting, room additions, women, to consider the looking for. And I wasn’t going to benefits—financial security, decks and other items are programs are typically more wait around for someone to do it eligible under the program even autonomy, empowerment—and to lenient on the qualification for me. I started buying houses in reflect on the practical and guidelines and are often designed if the home does not need any the early 1980s, buying my first other major improvements. Note with lower upfront fees. financial steps that can help home for just $10,000 down, that luxury items and Also, there are often loan women become empowered fixing the place up and reselling it homeowners. improvements are not eligible, assistance programs offered at

Owning a home is an increasingly popular and profitable way to empower women by enabling them to secure their personal and financial futures


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“Single women are buying houses at a rate that significantly exceeds that of single men. In fact, single women have made up between 18 and 20 percent of all homebuyers over the past decade, a figure that is double the share of single men who own their own home.”


and that all health, safety and energy conservation items must be addressed and approved prior to completing general home improvements. Finally, female homebuyers of all ages should be aware of two specialized loan products that are extraordinarily beneficial for qualifying buyers: a VA loan and a USDA loan. A Veterans Administration (VA) loan offers an outstanding range of benefits for current and former members of the military. With no downpayment required, no private mortgage insurance, and a government-backed financing structure, it’s a loan product that all eligible women should not hesitate to take advantage of. The United States Department of Agriculture (USDA) also offers loans designed for homebuyers in rural areas. These loans have lower interest rates and require no downpayment, among other benefits. For eligible candidates, it’s an incredible opportunity.

Kelley Ross, vice president and senior loan officer with Ross Mortgage Corporation, started her mortgage banking career in 1982 in loan operations and transitioned into underwriting. Because she missed having personal relationships and wanted to work with clients face-toface, she became a loan officer. She has consistently continued her education to remain a top resource to both her real estate agents and clients. She may be reached by phone at (248) 658-2511 or e-mail Kelley@RossMortgage.com.

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Moving forward I can personally attest that, as recently as the 1980s, plenty of not insignificant structural and institutional challenges remained for women looking to own their own home. Overcoming those obstacles and systemic biases took a certain amount of confidence and grit. Happily, for women everywhere, however, the situation today looks very different. I have seen firsthand how profound the impact can be of having a place to call their own can be for women of all ages. And with more and more women taking advantage of the financial security, personal stability and long-term investment value of homeownership, that impact is continuing to grow.



Expert guidance and support Working with the right loan officer is especially important for female homebuyers, who tend to be particularly appreciative of a close, collaborative relationship and thoughtful counsel from experienced professionals. As with a real estate agent, trust is critical. It’s also important to have your agent and your loan officer work together, as clear and consistent communication between those parties can help identify and capitalize on opportunities—and facilitate creative solutions that can be a difference-maker when it comes to getting to closing the deal on a new home. If at all possible, women looking to buy a home should try to make sure that their real estate agents and loan officers are

familiar with the range of lending products like those referenced above that are more accessible to first-time or single-income homebuyers. Ideally, the financial and real estate professionals guiding you through the process will have demonstrated experience working with single women and other first-time buyers. Their insights, experience and nuanced understanding of the different options available to you can be critical in helping weigh the pros and cons and identify not just the right loan product, but the right home. From a loan officer’s perspective, I take the time with all first-time homebuyers to make sure they are thinking ahead. To confirm that they recognize not just what they can afford, but to make sure they have sufficient resources in reserve in case of an emergency. I want them to be smart and aggressive, but also thoughtful about what happens if they need a new roof or if their employment circumstances change.

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Culture Matters


Know Who You Are as a Mortgage Professional By Jay Doran

“The pride of states as well as of men naturally disposes them to justify all their actions and opposes their acknowledging, correcting or repairing their errors and offenses.” –John Jay


Jay Doran is chief executive officer at Culture Matters LLC, where he helps business owners define their company’s values and increase their confidence to lead both personally and professionally. Jay is also the author of Thirty Days of Thought: Culture Matters.


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acknowledging, correcting or repairing their errors and offenses,” according to John Jay. It is pride that naturally manifests as a shield to our own insecurity. The insecurity we harbor because we act out of our lives and business without being clear on who we are. Who are you as a mortgage professional? Are you aligned with yourself? This means, to say the least, are your values written down? Do you choose your clients based on what you and they believe that is congruent and adds value to both parties? Do you collaborate with referral partners and colleagues based on what you and they stand for? Is the company you work for and with clear on what they believe? Do you have your staff based on your clarity of who you are as a mortgage professional? If even one of these questions confuses, befuddles, or is a “No” to you in answer, then you are not clear on who you are, and it changes daily which means you are far less responsible than you think you are. This is what our Founding Fathers feared for America and what you must fear for your life and business. Learn from our country’s history and start to reflect on who you are, who you aim to be and who in your life models the best and worst of you. After taking this inventory, start being honest with yourself. Our mortgage culture needs you! What you will find is meaning in places that lacked it hitherto. Now, it is time to let go of your pride and be honest with yourself. Take action on this and your life and business will never be the same, and in the most positive way. Who are you as a mortgage professional…?


his quote marked the beginning of our country’s Constitution, while simultaneously erupting the coming assault of intellectual vigor to be poured over the American people by way of The Federalist. is a book that embodies wisdom, insight and dense commentary from John Jay, James Madison and Alexander Hamilton wrote while arguing for our country’s unity and unification of a central government. A fitting example for the current divide in our mortgage industry panned only 232 years ago, give or take. It was 1787 when essay number three where the quote above by John Jay was written. In the context of this quote, John Jay was making claim that our country’s safety, liberty and overall well-being would be better protected if the divided states come together under a central government. It was in John Jay’s argument that wars (which were prevalent at the time, and still are) would be deescalated quicker if a centralized government was in place. Part of that argument is solidified by the premise underlying that quote in, “The pride of states as well as of men naturally disposes them to justify …” etc. This quote, at bottom, speaks to the psychology of the individual that we, the American people, now clearly understand today. It is within us, the everyday working men and women to either be open to our own mistakes or not. The word is “Responsibility.” The question is how is that word, “Responsibility,” being interrupted? In the years 1787-1788 when

The Federalist Papers were birthed, our Founding Fathers understood that each separate state was less likely to take responsibility and more likely to blame their enemies over any major dispute resulting in a war. Therefore, they worked, wrote and spoke out endlessly to construct our government and Constitution to what it is today to protect us from ourselves. The truth within these facts is that no government, industry, company or team can undo in totality the hell we can raise ourselves. This is what we must understand … who we are as mortgage professionals and to be less likely to act out of pride. If we want to systematically take notice of our errors with colleagues, clients and contemporaries, then we must understand ourselves as a mortgage professional. Unless we become aware of our auto pilot doings, the likelihood we will justify criticism on others is high. The higher we climb, the harder any pebble we drop on our competition smashes. In a culture that we are less likely to feel compelled to apologize, take personal inventory and listen–we are not leaders. Leadership is a responsibility and responsibility is leadership, but without knowing who we are, our intrinsic tyranny masks itself as leadership. We are ironic! We are hypocrites and are doomed to fail. This is the end of our alignment with our team, clients, company and career. How does this occur now without personal realization? Because, “The pride of states as well as of men naturally disposes them to justify all their actions and opposes their

Who Will D

Digital Mortgag normous change is compelling lenders to rethink and adjust operating models, moving away from cumbersome and error-prone manual processes. However, with all of the new technologies exploding onto the scene, it is difficult to keep track of the meaning of certain terms. In the mortgage industry, the term “automation� ultimately refers to a broad range of technologies that are intended to make life easier for mortgage providers and the families they serve. Advanced automation should allow financial institutions and lenders to focus on the points where human interaction is needed most, while greatly simplifying processes related to compliance, regulation and margin risk.


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In this article, we’ll address some of the important technologies that are geared toward delivering a more efficient lending process in tandem with a compelling borrower experience. Some important definitions Here is a summary of some of the common terms cropping up in the industry and what they mean today. Artificial Intelligence Artificial Intelligence (AI) is the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making and translation between languages. AI can improve the quality of decisions via data-driven decisioning engines.

Automated workflow Workflow automation refers to the design, execution and automation of processes through which tasks, data or files are routed between people or systems based on pre-defined business rules. The complex and varied nature of financial services products has made it difficult to apply workflow automation to our industry. In its purest form, an automated workflow solution for mortgage lending would come in the form of a high functioning system that could route work intelligently through the process from application to post-close. Automated workflows can eliminate paper-based processes, which benefits the lender and the borrower. Digital transactions and processes reduce costs, increase transparency and make finding needed information easier for lenders.

Configurable rules engine A business rules engine is a software system that executes one or more business rules as part of ongoing operations. However, if the rules must be pre-configured prior to the system going into use, the lender will be locked into a ruleset that could become outdated if regulations or investor requirements change. A configurable rules engine allows configurations to be altered to meet changing needs. As the lender makes changes, system administrators can create new rules that keep all users in line with the strategy. For instance, if it is the company strategy to offer every new mortgage borrower a home equity line of credit, a rule can be written that will ensure that step is part of the process.

Define the

ge Experience?

By Nicole Valentin-Smith

Machine learning Machine learning is a form of artificial intelligence that relies on algorithms and statistical models to identify patterns and make inferences, enabling operations without the use of explicit instructions. Systems equipped with machine learning can make decisions based on identified patterns, even when they don’t have human-written code to direct them. As these tools develop, we expect to see AI assisting in the creation of new lender automation tools. Optical Character Recognition/ Intelligent Character Recognition Errors in manually-entered information and outdated data are two of the greatest obstacles to producing accurate loan documents. ICR (Intelligent Character Recognition)

incorporates OCR (Optical Character Recognition) along with other intuitive features and a selflearning rules engine to enhance document classification and data extraction from both electronic and handwritten documents. In addition, new document types can be added using the tool’s automated learning objects. With ultra-fast automation rates, large volumes of documents can be classified and prepared for archiving without the need for a time-consuming staff review prior to audit. ICR can accelerate identification and extraction of loan file data, while ensuring its accuracy and eliminating data discrepancies between document versions Regtech Regtech, or “Regulatory Technology,” is a term used in the financial services industry for

any technology that checks the result of a process against compliance requirements. Developed to reduce the expense of QA/QC in the mortgage lending process, these tools have seen limited success for two main reasons. First, lenders must typically send loans into these systems from the LOS, which is usually a manual process and increases expense; second, lenders don’t trust these systems and, therefore, do not rely on the automated QC, instead reviewing manually and increasing their costs. The best regtech is built into the lender’s LOS where the loan information already resides and is programmed to check loan data on a continuous basis, eliminating the need for manual oversight. Robotic Process Automation Robotic Process Automation

(RPA) promises to give lenders the power to effectively automate tasks, streamline processes, increase employee productivity and ultimately deliver a satisfying borrower experience. Software robots–small programs that perform routine tasks–are wellsuited to financial institutions’ highly regulated, high-volume data and payment processing environments. Early adopters are focused on the ability of robotic process automation to automate a wide range of data entry and processing tasks to increase efficiency, reduce costs, enhance compliance and improve data integrity. How these tools fit together Ideally, these technologies should work together to help lenders get the most out of the continued on page 74



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MARCH 2020 n National Mortgage Professional Magazine n



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sciences and predictive locationbased analytics for businesses in the U.S. and Canada. The financial terms of the acquisition were not disclosed. Location Inc. offers the proprietary RiskSuite and NeighborhoodScout solutions for determining market insights, projections and risk assessments for the insurance, real estate, and finance sectors. It also offers a suite of claims risk products including WaterRisk, FireRisk, HailRisk and CrimeRisk. “As a deeply creative team led by Ph.D. scientists, we are passionate about providing uniquely accurate insights into where–and how–some of the most pervasive risks arise in property and casualty insurance, whether they be from structure fire, non-weather water, hail claiming patterns, or crime and liability losses,” said Dr. Andrew Schiller, CEO of Worcester, Mass.-based Location Inc. “Joining CoreLogic means our data products will be more widely available, easier to integrate via great platforms like RiskMeter and Underwriting Center, and our innovation roadmap can advance at scale.” Steve Brewer, executive for insurance and spatial solutions at Irvine, Calif.-based CoreLogic, said: “Location Inc.’s unique risk analytic products enhance the CoreLogic offering for property and casualty insurance by expanding our capabilities in predictive, location-based analytics. Together, we will complete the puzzle on some of the unknowns insurers face with risk assessment for non-weather water and fire loss–a true industry first. Our commercial and personal lines customers can now benefit from the most granular, accurate and predictive set of risk variables to mitigate risk, increase profitability and drive value for their customers.” OptifiNow Joins Forces With Sun West Mortgage on CRM Flexibility

OptifiNow has announced that Sun West Mortgage Company has launched their cloud-based CRM and marketing automation platform for wholesale, distributed retail and their all new

Home Buyer Connect (HBC) mortgage lending channels, demonstrating multi-channel flexibility that simplifies sales and marketing management for the Southern California-based lender. “Supporting multiple lending channels is a challenge for any mortgage lender, so we knew it would be hard to find a single CRM solution for our three sales groups,” said John Brumund, executive managing director at Sun West. “We’ve got wholesale, distributed retail and our Home Buyer Connect (HBC) group, which is a hybrid consumer direct and distributed retail sales model. OptifiNow not only delivered all three channels, but they adapted to our unique way of doing business, especially in the Home Buyer Connect channel where there are so many moving parts.” OptifiNow worked closely with Sun West’s sales and marketing teams to customize the platform for each channel. Sun West provided the blueprints for automated e-mail campaigns, business rules and data-driven triggers, which OptifiNow used to implement the platform for their wholesale, retail and HBC environments. In the case of Sun West’s HBC group, a lead funnel delivers leads to call centers, requiring a phone system integration that matches specifically-identified borrowers to appropriately-licensed inside loan officers. Pre-approved buyers are then delivered to outside originators to manage the process through closing. “There’s no cookie-cutter approach to mortgage sales and marketing,” said John McGee, chief executive officer of OptifiNow. “For many lenders, their sales and marketing process is their major competitive advantage. It’s important that we really understand how a lender wants to use our system, build it to their specifications and deliver a working system as quickly as possible. That’s why we consider our White Glove service component to be as important as our technology." MAXEX and Ellie Mae Seek to Accelerate Secondary Market Liquidity

MAXEX has announced a partnership with Ellie Mae

the HausM origination team to extend its preexisting footprint and rapid expansion in the Chicago market," said Anatoly Nirshberg, CEO of HausM. "Now that we are expanding to Chicago, we believe the power of HausM and ParadigmNEXT, in conjunction with Absolute’s foundation, will rapidly expand our vision for technology-based retail mortgage originations, " said Matthew VanFossen, CEO of Absolute Home Mortgage. "Over the next 12 months, our focus will be refining consumer education of available loan products and how each consumer engages with a mortgage application and brand."


Mortgage professionals to watch

Absolute Home Mortgage Acquires Haus Mortgage

Home Point Financial has hired Ginger Wilcox as its first chief experience officer (CXO).


Freddie Mac has appointed Donna Corley executive vice president and head of its Single-Family Business. Waterstone Mortgage Corporation has named Elizabeth Spragg senior vice president–human resources at the company’s Pewaukee, Wis.-based corporate office. The MBA Opens Doors Foundation has named





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A Message From MAA Chairman Jeffrey C. Taylor continued on page 84

his year’s National Advocacy Conference (NAC) is just around the corner and the Mortgage Action Alliance (MAA) is gearing up for another successful year. Join us this April 21-22 at the Renaissance Hotel in Washington, D.C. Once again, NAC will be the premier advocacy event designed to empower MBA’s members and demonstrate to policymakers the strength of our industry’s unified voice. It’s an annual tradition that enables MBA members to speak directly to their elected officials as advocates for our industry–and your own business and customers. Who should attend? MBA’s National Advocacy Conference is ideal for: l Real estate finance professionals interested in learning more about advocating for the industry with elected officials; l Industry professionals from all segments including single-family, commercial, and multifamily; and l Young professionals looking to learn more about the industry.


Here is how your Hill visit will work: MBA staff will organize groups based on your home address and schedule meetings with the offices of your senators and representatives. Prior to these meetings taking place, MBA will host Webinars to review key issues that matter to you: l Residential Issues Briefing Webinar–Wednesday, April 8 at 3:00 p.m. EST l Commercial/Multifamily Issues Briefing Webinar–Thursday, April 9 at 3:00 p.m. EST If this is your first time attending NAC, we will also be hosting a first-time attendee Webinar on Thursday, April 2 at 3:00 p.m. EST. This year, NAC will host an exciting lineup of speakers, including Sen. Kyrsten Sinema (D-AZ), Senate Banking Committee member; and Rep. Patrick McHenry (R-NC), Ranking Member on the House Financial Services Committee. Look to the MBA Web site at MBA.org for updates on speakers and issues. Even if you can’t make it to NAC, there are easy ways for you and your company to get involved with the Mortgage Action Alliance and advocate for our industry. The MAA app (which you can download for free at MBA.org/MAAapp) allows users to join MAA, take action, contact their elected officials, learn about MORPAC, and track bills that MBA’s legislative staff are monitoring–offering a one-stop shop for all of MBA’s advocacy programs on your Apple or Android device. We hope to see many of you here in D.C. at the NAC this April. It is critical that we remain deployed on all fronts–educating Congress and working with this administration–to strengthen the real estate finance system to continue delivering fair, sustainable and responsible financing to meet the changing needs of your customers, homebuyers and renters alike. Jeffrey C. Taylor is chairman of the Mortgage Bankers Association’s Mortgage Action Alliance. Jeffrey is also co-founder and managing director of Digital Risk, a provider of mortgage risk, compliance and transaction management solutions. His is a frequent guest on financial television networks, such as Fox Business News and CNBC, as well as a source to top tier new outlets including The Wall Street Journal, sharing keen insights on the U.S. mortgage market and the economy.


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Absolute Home Mortgage Corp. has announced its acquisition of the origination platform of Haus Mortgage (HausM), a residential mortgage originator and digital marketing provider, headquartered in Chicago. The terms of the transaction were not made public. According to the companies, the acquisition will enable the Fairfield, N.J.-based Absolute to expand into in the Chicago market. HausM is supported by the digital marketing firm ParadigmNEXT and exceeded its origination goals by 60 percent in 2019, with a forecast for 200 percent growth through its integration with the Absolute brand, the companies added. "Absolute’s culture and technology are going to allow

Impac Mortgage Corp. has hired Brian Robinett as chief production officer, overseeing the performance of all of the Irvine, Calif.based company’s lending channels.



MBA’s Mortgage Action Alliance


Encompass Investor Connect, where now Ellie Mae originators seeking to optimize their liquidity options can deliver data and documents directly to MAXEX without ever leaving Encompass. MAXEX, which recently reached $5 billion in trading volume, connects bank and non-bank mortgage lenders to market-leading investors, including Wall Street dealers, money center banks, and the largest U.S. real estate investment trusts (REITs). This new integration further increases speed and efficiency by enabling seamless document transfer within Encompass. “Just as borrowers expect a seamless experience from their lenders, originators should expect a fast, consistent and transparent path to liquidity,” said William Decker, president of MAXEX. “By partnering with an industry leader such as Ellie Mae, we can further build on MAXEX’s value proposition for lenders.” Parvesh Sahi, senior vice president of business development for Ellie Mae, said: “Ellie Mae is proud to partner with MAXEX to create unprecedented connectivity between originators and secondary market liquidity. This new integration is a big step forward for delivering a true digital mortgage experience to the industry and enabling greater efficiency for the entire ecosystem.”

THE DIGITAL EXPERIENCE continued from page 71

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platforms they are already depending on to complete the mortgage process. In practice, this rarely happens. New bits of automation only add value if they can provide meaningful information to the lender’s database of record in a manner that is fully compliant and accurate. Adding technology to the front end of the lending process that may result in a faster application process but provides low quality data to the LOS is a recipe for disaster. To make loan automation work, all the tools must be combined in just the right way. These guidelines can help lenders get the most out of new technologies: 1. Look for a unified ecosystem: If all the tools the lender needs are created to work together, there will be fewer integration problems and data quality can be improved. Combining digital capabilities with smart technology creates an enterprise-wide lending ecosystem, guiding lenders through an integrated mortgage process from origination to close. That can lead to growth in market share, reduced costs from greater efficiencies and an enhanced borrower experience. 2. Keep the LOS at the center: The mortgage industry is currently laser-focused on borrower satisfaction, and for good reason. For consumers, every digital experience is compared to encounters with well-known brands that almost always get the customer experience right. Moving the loan through to close as quickly and efficiently as possible is key to borrower satisfaction and can only happen by keeping the database of record at the center of the mortgage ecosystem. 3. Don’t use automation to speed up a bad process: A serious concern lenders face when implementing new technology is that it will simply speed up–but not fix–a flawed process. Lenders will sometimes automate a broken process because they are comfortable with existing systems and because reengineering carries unknown risks. However, most

successful lenders are willing to make the time and increase resources to reengineer processes in order to win market share. 4. Keep it digital: Non-digital integrations deliver information to the LOS in old ways. For example, when a loan processor keys in information from a settlement services partner, the door swings open for poor data integrity and poor loan quality. It’s not just the tool that must be digital, but also the seamless connection to the lender’s existing platform. 5. Take it all the way to closing: According to Mortgage Bankers Association (MBA) research, this will be the year of the electronic closing. We’re already seeing more e-closings than ever before, which is a positive development. According to the Mortgage Electronic Registration Systems Inc. (MERS), approximately 19,000 e-notes were registered in the first quarter of 2019, compared to 375 in the first quarter of 2018. And Fiserv research shows that borrowers increasingly are comfortable with completing components of the loan process digitally. In addition, lenders have fewer problems post-close when borrowers close electronically, making a fully electronic closing process a winwin. Mitigating risk with better definitions Understanding the terminology around various lending technologies is critical to deriving maximum benefit from those technologies. If there is a disconnect, the benefits the lender expects may not be delivered and there is a risk they will not see a positive return on investment. Sound decision-making and speed are important in the lending business, particularly in the face of changing markets and consumer expectations. With a sensitive understanding of how the buzzwords in today’s evolving industry translate into real-world application, it is possible to automate and consolidate lending processes to boost efficiency and reduce transaction costs.

Nicole Valentin-Smith is director of client management, digital lending and origination at Fiserv Inc., a global provider of financial services technology solutions. She can be reached by e-mail at Nicole.ValentinSmith@Fiserv.com. © 2020 American Business Media LLC | 345 North Main Street, Suite 313 | West Hartford, CT 06117 | 516-409-5555


Photo credit: Getty Images/Sean Pavone

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Your turn National Mortgage Professional Magazine invites its readers to submit any information, events, passages, promotions, personal or professional occurrences that seem appropriate and/or other pertinent data to the attention of: Heard on the Street/Mortgage Professionals to Watch column Phone #: (516) 409-5555 E-mail:

Save the Date … Wednesday-Friday, April 22-24, 2020

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n National Mortgage Professional Magazine n MARCH 2020



veteran Kevin Beach as chief operating officer for NTS and senior vice president for WFG National Title Insurance Company (NTIC). Nationwide Title Clearing (NTC) has appointed Michael O'Connell, NTC’s chief operations officer (COO), to the company’s board of directors. Spring EQ has announced that Gregory Gentek has joined the company as senior vice president of sales, responsible for growing the company’s sales team and supporting the development of the company's affinity partnerships with other companies. Teraverde has announced the promotion of Mauricio Valverde to the position of client success manager. Vantage Point Title has announced that John Contreras has joined the company as vice president of strategic accounts. Evolve Mortgage Services has announced that Mark Hughes and Ann Gibbons have joined the company as managing directors, tapped to lead Evolve’s third-party review (TPR) business. Mid America Mortgage Inc. has announced that it has added John Bargas, Donnell Mitchell and Wendy Strawn to its Servicing Department, with Bargas leading the Department as executive managing director of servicing.



Deborah (Debby) Jenkins, executive vice president and head of multifamily for Freddie Mac, as a member of its board of directors. Dimont, the Dallasheadquartered provider of hazard insurance claims and loan administration services to the residential mortgage industry, has promoted Laura MacIntyre to CEO. Proper Title LLC has announced that Katy Thomas, a 30-year veteran of the title insurance and real estate industries, has joined the firm as director of business development– Chicago. Planet Home Lending has hired Patrick Couture as senior vice president of servicing platform development. Top of Mind Networks has announced that Sherwood Lawrence will take on the role of chief marketing officer, in addition to his current position as chief creative officer. LenderClose has announced the addition of Colleen Kinsey as the company’s UX strategist and engagement lead. MyAMC has announced the addition of David Mentesana as vice president of client relationships. Finance of America Reverse LLC (FAR) has appointed Jessica Hanson as an account executive in the Wholesale Lending Department. New American Funding has expanded into the state of Washington with a new licensed branch in Seattle, to be led by Branch Manager Yesenia Celestino. LBA Ware has appointed Chris Gassel as strategic sales specialist. Gassel was brought on board to support the release of LBA Ware’s turnkey business intelligence (BI) platform, LimeGear. WFG National Title Insurance Company (WFG) has announced the expansion of its National Title Services (NTS) Support Division, including the appointment of new executive leadership, naming longtime industry

MARCH 2020 n National Mortgage Professional Magazine n NationalMortgageProfessional.com


Consumer Privacy Will Dominate Future Headlines By Mike Eshelman


the way our industry does business. What is the California Consumer Privacy Act (CCPA)? The CCPA went into effect January 2020 and affects businesses that meet any one of the following criteria: l l


Exceed $25 million in annual revenue; Collect, share, sell or receive information on 50,000-plus California consumers; or Fifty percent or more of revenue is from the sale of consumer information.

California is the first state, but certainly not the last California took the first big leap by passing the CCPA, but there are many other states who have their own privacy laws in the works. It is likely other states will use the CCPA as the framework. Many are actually hoping for the federal government to provide a sweeping data privacy law to simplify the process of complying. After all, it’s easier to comply with one law than it is to comply with 50 variations that all have some slight difference from the others. Time to update privacy policies and procedures Lenders should have already updated privacy policies, notified Californians of their data collection practices, and enabled a method to make requests about what a business has collected on them, to opt-out of their information being sold to third parties, and to delete their information. But the time is right for mortgage lenders to dive deeper into their business and understand how the data on their consumers is passed between various systems, how it is stored, and where they may be vulnerable to cyberattacks that can lead to breaches. Regardless of whether a continued on page 78


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If your company meets any of those criteria, you are subject to California’s privacy law and must comply. First and foremost, you must notify California consumers of your data collection practices, including what you collect and how you collect it. You must also provide a “Do Not Sell My Information” link, allowing consumers to opt-out of their data being sold to a third party. California consumers now have the right to know what information lenders have about them and a request to delete the information assuming it isn’t in conflict with another law. Upon a consumer’s request, businesses have 30 days to respond with the allowance of an extension to 45 days, however, a response is required under the law. It’s important to note that there are laws and regulations that exist in lending requiring the retention of consumer information. When a retention requirement applies to the consumer request, businesses are still required to respond and should do so with the reason why their request cannot be fulfilled. The California Attorney General’s office will be tasked with enforcing the CCPA as consumers do not have the private right of action which has plagued many banks and lenders

with the Telephone Consumer Protection Act (TCPA) unless the consumer was affected by a data breach of which non-encrypted and non-redacted personal information was breached and the company did not take “reasonable security procedures and practices” to protect the consumer’s information. As of the time of this writing, the California Attorney General is still finalizing the enforcement actions (they are expected any day now), however, enforcement actions are set to begin on July 1, 2020.


ver the past several years, the mortgage industry has grown leaps and bounds with respect to its use of technology and data. Consumers are being approved in minutes, some mortgages no longer require appraisals, online Webcam notaries are “at the closing table” and artificial intelligence (AI) is being discussed at every conference. Companies have emerged with solutions to improve marketing personalization, optimize the customer application experience, create a more automated and efficient workflow management for employees, aspects of compliance and fraud detection are automated and, coming full circle, online behavioral data is available to identify customers who are back in the market for another loan allowing banks to recapture more business. The amount of data and technology involved in running a mortgage business today is substantially more than it was a decade ago. Mortgage lenders collect a lot of data on consumers, directly and indirectly, and typically use many systems that talk to each other passing the data back and forth using APIs (application programming interface). Whether regarded as a “fintech” or “oldschool,” lenders are relying on these technologies and leveraging data to make better decisions across the organization. With California’s recent privacy law enacted, the California Consumer Privacy Act (CCPA), businesses will now have to provide notice to consumers about what data is collected, how it is collected, and allow consumers the ability to request their data not be sold, or even be deleted if it is not in conflict with another law. This was a momentous privacy law passed by a state, and, in all likelihood, the first of many which will affect

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lender is a technology-focused “fintech” or an “old-school” lender still using file folders (yes, they still exist), protecting a consumer’s private and sensitive information should be a top priority as data breaches have become more common and resulted in damaging headlines. Given the nature of our industry and amount of personal information that is required to complete a mortgage loan, lenders are a prime target for cyberattacks and we will certainly see companies in our industry, lenders and vendors who service them, fall victim to data breaches. Lenders are not only reviewing their safeguards, but they are also reviewing the practices of their vendors as well. Jornaya is a data vendor in major-life purchase industries (mortgage, real estate, insurance, auto, etc.) providing proof of notice for CCPA and future privacy laws, proof of consent for TCPA, and the ability to monitor consumers for online behaviors that signal when they are back in-market for a mortgage, or other major purchases. This knowledge enables marketers to engage at the right time for the right product and convert more consumers. Many banks and lenders assume this is done via capturing and monitoring consumers personal information, however, it is done in a privacy friendly manner that doesn’t require clients to share any personal information. The consumers’ data is hashed, which is best described as oneway encryption. If there were a data breach, cyber attackers would only see something similar to “GY@90n^&Ik(YsT$375!joi734fg /Qn68,” which protects consumers. Some of the wellknown platform vendors used for digital mortgage applications, whose purpose is to collect the consumers information, implement strong security practices to protect the

data such as purging the data 30-90 days after collection to minimize the risk and exposure, unless otherwise requested by the lender. These are great examples of vendors who have strong security practices to protect their clients’ consumer data. You should be well informed on what your vendors are doing, or, more importantly, what they are not doing. What steps can your company take to honor privacy? Finally, consider the following action items to ensure your organization is truly honoring the consumer: l



Clarity: Provide clear guidelines on Personally Identifiable Information (PII), which is any data that could potentially identify a specific individual. Trusted organizations have rigorous Terms of Use restricting them from exposing raw or proprietary data. Storage and access: Most businesses store data on multiple media types, each technology and format requiring its own type of protection. Understand storage and access. Solutions: Here at Jornaya, we recently extended our compliance product suite to assist companies in meeting the requirements of the CCPA, as well as potential future state and federal regulations.

Disclaimer: Any and all content provided (material, information, graphics, etc.), and any other versions and variations of the content (e.g. in PDF via email or otherwise) is provided only for general information. It is not intended to serve as, or as a substitute for, legal or compliance recommendations, advise, or infer to be used in any particular way by you or your company, and not intended to be used as a basis for making business/commercial decisions.

Mike Eshelman is head of consumer finance at Jornaya, a data-as-a-service platform that delivers consumer journey insights to publishers, marketers, analytics and compliance professionals with the highest-resolution view of the consumer buying journey. Mike can be reached by e-mail at MEshelman@Jornaya.com.

Representation matters When advocating for diversity for your organization, seek support and participation from your employees of color. To have them involved in career fairs and networking events, provides candidates a visual of success and the opportunity to see someone like them in the roles/positions you are presenting to them. Going through the program during the summer, we introduce our cohort to internal interest groups that can provide a network of support. These groups include Veterans United’s similar interest group for professionals of color (vHue), Veterans United’s LGBTQ group, Women in Technology (WIT), etc. We are also intentional in incorporating employees of color into the mentoring and instruction pieces of the internship program. Eliminating barriers Receiving an offer of an internship in itself isn’t the only hurdle students across the country are faced with. Students still have the responsibilities of rent at their city of origin, cost of traveling to the internship, and availability of transportation once they arrive. We ensure all our internships are paid, housing is provided and a travel stipend is allocated to non-local students, in order to limit the financial barriers of students participating in the program. Bringing a car is highly recommended to our interns, however, we know that sometimes that isn’t an option. We coordinate carpools amongst the students and issue a carpooling allowance to those with vehicles that aid in the transportation of their fellow interns to and from work, to the store, and other events in the community. They don’t know what they don’t know It’s unrealistic to think that anywhere you place a student in

the company will always be their continued field of interest, and what they will choose to pursue once they graduate. In most cases we’ve encountered, students aren’t familiar with all the possibilities of employment in a company, unless they are given the opportunity to explore. When we place students in departments during the summer, not only do we ask what their areas of interest are, we also ask about the characteristics they look for in their future career. We can’t expect all students to know and understand departments like capital markets, all the areas of operations, the various roles in technology, the broad areas of expertise in marketing, etc. But if are able to understand their general areas of interest and the characteristics of a job that excite them, we are able to connect the dots and expose them to positions they never knew existed. And if by chance our placements are off and students want to learn more about other areas of the company, we open up shadowing opportunities approximately 75 percent into the program. This empowers students to choose what they are exposed to with some time and knowledge under their belts to make more informed decisions. To keep up with our country’s continued demographical shift, we have to change the systems we have the power to change, and remove the barriers holding back our young professionals of color. Our ultimate goal is to hire our Immersion interns as fulltime employees upon graduation. However, if a full-time position at Veterans United does not work out, we are still able to provide them with significant experience for their resume that will enhance their job searching process. Either scenario benefits our interns, and promotes inclusion in our culture.

Loreli Wilson serves as the director of Inclusion and Social Impact Programs at Veterans United Home Loans. Wilson directs Veterans United’s diversity and inclusion initiative, including diversity recruitment and inclusive programming, as well as community impact programs, including volunteering and nonprofit relationships. She is dedicated to promoting an inclusive workforce conducive to Veterans United’s unique culture, and ultimately strives for each employee to feel comfortable in their own skin.


calendar of events MARCH 2020 Sunday-Wednesday, March 29-April 1 MBA’s 2020 Technology Solutions Conference & Expo JW Marriott Los Angeles L.A. LIVE 900 West Olympic Boulevard Los Angeles For more information, visit MBA.org. APRIL 2020 Thursday, April 9 2020 New York Mortgage Expo Crowne Plaza 63 Executive Boulevard Suffern, N.Y. For more information, visit OriginatorConnectNetwork.com.

Monday-Tuesday, April 20-21 MBA’s 2020 State & Local Workshop Renaissance Washington, D.C.Downtown Hotel 999 19th Street, NW Washington, D.C. For more information, visit MBA.org.

Tuesday-Wednesday, April 21-22 MBA’s 2020 National Advocacy Conference Renaissance Washington, D.C.Downtown Hotel 999 19th Street, NW Washington, D.C. For more information, visit MBA.org.

MAY 2020 Sunday-Wednesday, May 3-6 MBA’s 2020 Legal Issues and Regulatory Compliance Conference New York Marriott Marquis 1535 Broadway New York, N.Y. For more information, visit MBA.org. Tuesday, May 5 2020 Motor City Mortgage Expo DoubleTree by Hilton Detroit– Dearborn 5801 Southfield Expressway Dearborn, Mich. For more information, visit MotorCityMortgageExpo.com. Tuesday-Wednesday, May 12-13 NYAMB’s 32nd Annual Regulatory Compliance Conference & Trade Show Westchester Marriott 670 White Plains Road Tarrytown, N.Y. For more information, visit NYAMB.org. Thursday, May 14 2020 Chicago Mortgage Originators Expo Holiday Inn Chicago SW 6201 Jollet Road Countryside, Ill. For more information, visit ChicagoOriginators.com.

Sunday-Wednesday, May 17-20 MBA’s 2020 Commercial/Multifamily Servicing & Technology Conference New Orleans Marriott 555 Canal Street • New Orleans For more information, visit MBA.org. Thursday, May 21 2020 Suncoast Mortgage Expo Embassy Suites Tampa—USF 3705 Spectrum Boulevard Tampa, Fla. For more information, visit SuncoastMortgageExpo.com. Sunday-Tuesday, May 31-June 2 MBA’s 2020 Chairman’s Conference The Resort at Pelican Hill 22701 South Pelican Road Newport Coast, Calif. For more information, visit MBA.org. JUNE 2020 Wednesday-Friday, June 3-5 2020 Carolinas Connect Mortgage Expo Embassy Suites Hilton Charlotte 4800 South Tryon Street Charlotte, N.C. For more information, visit CarolinasConnect.webflow.io. Tuesday-Thursday, June 9-11 2020 Mortgage Star Conference Sheraton Memphis Downtown 250 North Main Street Memphis, Tenn. For more information, visit MortgageStar.biz. Wednesday, June 10 2020 Mid-South Mortgage Expo Sheraton Memphis Downtown 250 North Main Street Memphis, Tenn. For more information, visit MidSouthMortgageExpo.com.

Tuesday, June 23 2020 Great Northwest Mortgage Expo—Portland Edition Holiday Inn Portland South Hotel & Convention Center 25425 SW 95th Avenue Wilsonville, Ore. For more information, visit GreatNorthwestExpo.com. Thursday, June 25 MBA’s 2020 Document Custody Workshop Ritz-Carlton, Tysons Corner Tysons Galleria 1700 Tysons Boulevard McLean, Va. For more information, visit MBA.org. JULY 2020 Monday-Wednesday, July 6-8 2020 Ultimate Mortgage Expo Hotel Monteleone 214 Royal Street New Orleans For more information, visit UltimateMortgageExpo.com. Thursday, July 23 2020 Arizona Mortgage Expo Wild Horse Pass Casino & Resort 5040 Wild Horse Pass Boulevard Chandler, Ariz. For more information, visit AZMortgageExpo.com. AUGUST 2020 Wednesday-Saturday, August 5-8 2020 FAMP State Convention & Trade Show Hilton Orlando Bonnet Creek 14100 Bonnet Creek Resort Lane Orlando, Fla. For more information, visit OurFAMP.org. Friday-Sunday, August 21-23 OriginatorConnect 2020 Planet Hollywood Las Vegas 3667 Las Vegas Boulevard South Las Vegas For more information, visit OriginatorConnect.com.

To submit your entry for inclusion in the National Mortgage Professional Calendar of Events, please e-mail the details of your event, along with contact information, to newsroom@mortgagenewsnetwork.com.


n National Mortgage Professional Magazine n MARCH 2020

Sunday-Thursday, April 19-23 2020 Regional Conference of MBAs Harrah’s Resort & Convention Center 777 Harrah’s Boulevard Atlantic City, N.J. For more information, visit MBANJ.com.

Thursday, April 23 MBA’s 2020 Capital Markets Summit Sheraton New York Times Square Hotel 811 7th Avenue, West 53rd Street New York, N.Y. For more information, visit MBA.org.

Sunday-Wednesday, May 17-20 MBA’s 2020 National Secondary Market Conference & Expo New York Marriott Marquis 1535 Broadway • New York, N.Y. For more information, visit MBA.org.


Thursday, April 16 2020 California Mortgage Expo at Irvine Hilton Irvine/OC Airport 100 MacArthur Boulevard Irvine, Calif. For more information, visit CAMortgageExpo.com/Irvine/Irvine.

Wednesday-Friday, April 22-24 NAMMBA CONNECT 2020 The Westin Buckhead Atlanta 3391 Peachtree Road NE Atlanta For more information, visit NAMMBACONNECT.org/Connect2020

MARCH 2020 n National Mortgage Professional Magazine n



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National Mortgage Professional Magazine March 2020  

Diversity in Mortgage Lending NAMMBA TOP 100

National Mortgage Professional Magazine March 2020  

Diversity in Mortgage Lending NAMMBA TOP 100