NAMBCentral December 2022

The Magazine for the National Association of Mortgage Brokers DECEMBER 2022

President’s Letter

DECEMBER 2022

BY ERNEST JONES, JR.

IN THIS ISSUE

Monthly Committee Report... 4 #NAMBFocus2023... 6 Thanksgiving has, once again, come and gone as we move closer to the holiday season. NAMB has much to be thankful for in 2022: (1) NAMB Focus conference held in January in Orlando, FL (2) Legislative conference held in May in the nation’s capital

Women Inspiring Women... 7

by Jilly MacDowell

Top 5 Qualities of a Loan Originator... 8

by Devesh Singh

Time Passages... 12

by Michael Collins

(3) a growing membership exceeding 45,000 (4) a continuously growing number of industry partners (5) the hiring of three new staff members, our Director of Operations, Director of Marketing and Director of Membership,

The National Association of Mortgage Brokers is the voice of the mortgage industry, representing the interests of mortgage professionals and homebuyers since 1973.

(6) NAMB Board Retreat held in August in Charleston, SC

INDUSTRY PARTNERS

Windsor Mortgage... 4 CIC Credit... 5 Fairway Wholesale Lending... 9 Lender Price... 11 Citizens Bank... 13 Scotsman Guide... 13 Plaza Home Mortgage... 15 Arlo... 16

(7) an energetic NAMB and state-led government advocacy program (8) among many other successes, an incredible 2022 NAMB National Conference!

As we move into 2023, we look forward to another successful year. Next year will mark NAMB’s 50th anniversary.

We are enthusiastically looking forward to our first event of the year #NAMBFocus2023. The conference will be held on January 11-14, 2023, in Orlando, FL, at the beautiful Margaritaville Resort.

NAMB STAFF

This event will provide invaluable insight into marketing, sales and technology strategies. Additional information regarding the upcoming NAMB Focus conference is on page 15.

Hunter Higginbotham

MARKETING:

Jilly MacDowell MEMBERSHIP: OPERATIONS:

Brandie Starks Submit your news to magazine@namb.org.

If you are a mortgage professional and not a NAMB member, visit NAMB at namb.org/JoinNAMB.

©2022 NAMB All rights reserved.

Thank you for reading this edition of NAMBCentral.

Have a fun, healthy and safe holiday season. NC

COVER PHOTO BY ERWAN HESRY ON UNSPLASH.

TRY NAMB FOR FREE!

HAPPY HOLIDAYS FROM NAMB

Look for “Courtesy Associate Membership” at namb.org/joinNAMB. Dec 2022

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What Does NAMB Do? THE LATEST INITIATIVES FROM NAMB’S COMMITTEES NAMB operates via many moving parts – specifically a small but mighty staff and more than 20 committee and subcommittees. Part of what NAMBCentral can offer is insight into what these 2022-2023 committees intend to accomplish this year.

At last week’s Government Affairs meeting, the NAMBPAC subcommittee weighed in with inprogress initiatives.

NAMBPAC is NAMB’s voluntary, non-partisan Political Action Committee (PAC). This is the only Political Action Committee that represents mortgage brokers’ interests on Capitol Hill. NAMBPAC represents the mortgage broker industry’s voice in the halls of Congress.

NAMBPAC raises money to elect and re-elect candidates that have clear understanding of the topics tthat are at the forefront of the mortgage broker industry and who support our initiatives. NAMBPAC’s primary function is to support those candidates whose voting record and vision reflect the interests of our industry. NAMBPAC promotes

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Dec 2022

member companies and their employees to participate in the campaign process ensuring that we have friends and allies in Congress.

When you contribute to NAMBPAC you are helping your business and therefore the mortgage broker industry. NAMB members are able to build a united voice on Capitol Hill and provide a key role in the campaign process by contributing funds to support candidates who share the same view points and outlook for our industry.

By sending messages to candidates and elected leaders, NAMBPAC provides pivotal information that helps the decision makers on Capitol Hill know and understand the issues affecting the mortgage broker industry. Scan the NAMBPAC QR code on page 8, or visit namb.org/NAMBPAC for more.

At the meeting, PAC committee chair Mike Farrell announced the grand opening of the NAMBPAC Lounge at this year’s Focus conference in January, as well as the new $99 Club, a top tier level for monthly contributors.

The lounge is exclusive to NAMBPAC contributors, who will enjoy bourbon & margarita tastings, cigars and a professional roller from CF Dominicana, and more. It will become a fixture at our annual events.

Contributors, grab your entry ticket at registration!

Not a contributor yet? For $99, you become a literal part of our representation in DC and you’ll gain VIP access to this exclusive party spot!

Thanks to our newest Technology Sponsor CardTapp, NAMB is available at your fingertips 24-7. More than simply a “digital business card app,” the NAMB app allows users to interact with the resources and tools that are relevant to them.

Members can renew their membership, update their profiles, search the member directory, register for events, even contribute to NAMBPAC, through the app. It’s also a convenient way to share the benefits of membership with your own network.

Early and FREE registration for events such as #NAMBFocus2023 is easy through the app too. To download, text “NAMBAPP” to 36260!

“Financial stability first, then education on home ownership – mortgage, maintenance & pride of ownership."

WILL WE SEE YOU AT THE NAMBPAC LOUNGE IN JANUARY?

Stay tuned in coming months for reports from our other committees. The VA Committee, chaired by Jeff Wilson, is working on closing the gap between Gold Star and surviving spouse benefits. And the FHA Committee, chaired by Ray Edwards, continues to work with our lobbyists, the WIlliams Group, to build relationships on the Hill. NC

Dec 2022

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New Year, New Energy

namb.org/FOCUS

PREVIEW NAMB’S JANUARY CONFERENCE! As 2022 draws to a close, we at NAMB are deep in preparation for our annual new year kick-off, #NAMBFocus2023. Focus is our January conference, which puts marketing, sales & technology at the forefront. Designed to help attendees shape their strategies for the coming year, #NAMBFocus2023 should be on every mortgage professional’s calendar: January 12-14, 2023, at Margaritaville Orlando.

Says NAMB Convention Chair Lisa P. OConnor, “We’re so pleased to see tremendous support from our sponsors and speakers to help attendees navigate today’s unique market with the newest tech and sales techniques.”

We’ll debut the Twilight Trade Show at this year’s Focus; meet the exhibitors first on Thursday from 5-7pm. Segue on in to our kick-off party with adult beverages & the beloved NAMB House Band!

Be warned: The NAMBPAC Lounge after-party is members-only! Membership in NAMBPAC means you are truly part of NAMB‘s voice in Congress. Go to page 4 for party and contribution details. #NAMBFocus2023 is all about the power lunch too – secure tickets to dine during talks by Greg Oaks of the Florida Office of Financial Regulation on Thursday and David Stevens, former Federal Housing Commissioner for HUD, on Friday.

Level up your brand with a NAMB certification course while at Focus. Gain credibility & clients as a Certified Credit Specialist (CCS); specialize in VA loans with the Veterans Lending Specialist cert (CVLS).

NAMB’S MARKETING, SALES & TECHNOLOGY CONFERENCE JAN 12-14, 2023 Speaking sessions from our industry partners run back to back to back on Friday; NAMB National crowd favorite “power trio” Nora Guerra, Thomas Smith and Jason Jefferies, Sr., from Freddie Mac return to the NAMB stage to kick things off.

Mark Boleky, VP Business Development at Plaza Home Mortgage®, also returns to the lineup, with “Five Tips to Grow Your Business in a Shrinking Market.” Breakout sessions from Acra Lending, wemlo and more will be announced; check namb.org/FOCUS for updates.

Another highlight of the agenda is “How to Set Goals and a Vision for Success,” led by Windsor Mortgage dynamo Chris Vinson. In Thursday’s 4-hour intensive, Chris explains how to create a 1-Year Business Plan and 5-Year Goal Setting & Vision Plan that aligns with your values & puts the future you desire into view.

O’Connor quips, “In the words of Jimmy Buffett: ‘I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.’” NC Visit namb.org/FOCUS to register, exhibit & sponsor!

THANK YOU TO NAMB’S INDUSTRY PARTNERS

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Dec 2022

To Great Heights

BY JILLY MacDOWELL Step out of your comfort zone,” says NAMB Past President Linda McCoy, “and let Inspire mentor you all the way to the top of your profession.” Inspire is the women’s mentoring group she co-founded with marketing branding gurus Ginger Bell and Laura Brandao at CAMP 2021.

It evolved into a monthly virtual call hosted by McCoy with a special guest speaker, a swift 30 minutes of empowering, actionable ideas delivered by enthusiastic, experienced women in business.

November’s call featured the robust exuberance of Brandao, who delivered five critical points of brand-building in rapid-fire (it’s only 30 minutes, remember). I, for one, felt like running a marathon – OK, a mile – after her impassioned presentation. I asked her where she gets the energy.

“I think it all comes from my mindset,” Brandao replied. “I look at every day as a gift. I believe that it’s my obligation to make a positive impact on the world by sharing my knowledge, love and guidance.”

What Brandao offered during November’s call was a succinct list of the 5 steps to build your brand: #1 Define your brand. Determine exactly who you are and what makes up your brand. “Everything you do should tie into how you want to be perceived.” #2 Build an online presence through your own website or blog. Purchase yourfullname.com as a domain name to own the first Google result. #3 Generate brand awareness through networking in-person and social. “Inspire itself shows the power of networking and collaboration!” #4 The 3 C’s of branding: Clarity, Consistency, Constancy. Know who you are, stay true to who you are, and project who you are across all mediums. #5 Get feedback from those who know you best – at work, at home, anywhere. “Ask them what your top attributes and core strengths are. If they can tell you, then you’ve succeeded in branding yourself.”

December’s Inspire call (Tues, Dec 13, 1pm ET) will feature top 1% originator Stacia Weishaar, who “enjoys helping originators to uncover their why, lead with foresight and develop their own delightful experiences in work and life.”

LAURA BRANDAO

And Inspire will host a breakfast at next month’s #NAMBFocus2023. Mark your calendar for 8am on Friday the 13th for quality time with mentors!

“You will meet women who can touch your lives forever and encourage you to be what you have always aspired to be,” promises Linda McCoy. NC Inspire meets virtually every second Tuesday. Get on the list at namb.org/inspire or inspirewmg.com.

NAMB INSPIRE AT OCTOBER’S NAMB NATIONAL: CINDY ERTMAN, LINDA MCCOY, CHELSEA BALAK AND KRISTY DICKEY.

Dec 2022

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Top 5 Qualities for a Loan Originator

BY DEVESH SINGH

This article is meant for both loan originators and borrowers. As a loan originator, this will give you longevity in the business. As a borrower, this will help you decide if your current loan originator is right for you.

This article will be informative because I have spent countless hours with clients to perfect their needs.

Borrowers don’t want the best rate; sometimes they want their questions answered promptly. Borrowers are choosing to trust you over hundreds of other loan originators who can provide a similar service.

So, what traits separate you from the rest?

1. Process-Oriented Does your loan officer have a process for you, or does he say to trust him and things will get done? It is very important for loan officers to walk the borrower through every single step of the origination process.

Loan officers should never say, “Don’t worry it’ll get done,” rather they should talk about how it will get done. This is a stressful process for first-time home buyers because they are taking on a very large loan.

When they have questions, those questions should be answered promptly. That leads us to our second quality.

2. Responsive How long does it take for your loan officer to respond to your emails or phone calls? If the answer is longer than 24 hours, you need a new loan officer.

As someone who services his clients with care, I reply to them within 3-5 hours. I have had borrowers excited to tell me that they like the fact that I am so 8

Dec 2022

CONTINUED ON PAGE 10 >>

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Click play for a holiday message from our team to yours: Copyright©2022 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. B2B communication — not intended All rights reserved.

CONTINUED FROM PAGE 8 >>

attentive. I become confused because that is exactly my job. My job is to respond to all of your comments and concerns.

There have also been multiple instances when borrowers needed pre-approval letters, and the mortgage provider was not able to get to them in time. All of the loan originators should be able to get a pre-approval letter the same day, or tell the borrower why they were unable to get them the pre-approval letter. This is why all loan officers must be responsive, and if they are not, it is time to work with someone who is.

3. Organized Organized! Structured! Planned! Those three words mean the same thing, and they apply to all loan officers.

Here is an example of how LOs should be organized: The borrower speaks to you on Monday regarding their concerns. The loan officer says he will call you back with final answers on Wednesday. The borrower never receives a call back from the officer. The officer simply forgot about the borrower because he was not organized. This is one of the major reasons why you would need to get a new loan officer.

4. Compatible Getting a mortgage can be confusing and tough, and that’s why you need someone with good compatibility. Is it important for the LO to be patient and kind to the borrower. The mortgage process is not simple. The borrower should feel they’re on the same team.

5. Not Pressuring One of the things I learned early in this business is that persona is everything. Loan officers will try to do and say anything so they can make commission on the loan. If the originator you are speaking to is pushing you to accept the rate, then he is not a good officer. If you sense that the person is very salesy then you should consider getting another loan officer.

The rate should speak for itself. If the loan officer is pressuring you to take a rate that you are uncomfortable with, you should run the other way. The borrower should not feel as if they are obligated to do something. It should always be the borrower’s choice. NC This advertorial content was originally published on TAPinto.net.

Nov 2022 10 10 Dec 2022

JANUARY 12-14, 2023 Margaritaville Resort Orlando Kissimmee, FL

JANUARY 12-14, 2023 Margaritaville Resort Orlando Kissimmee, FL

F CUS

NAMB’S FrEe MARKETING, SALES & TECH CONFERENCE FrEe NAMB’S Expert panels, MARKETING, goal-planning SALES & TECH seminar, CONFERENCE Expert panels, twilight goal-planning F CUS exhibit hall, seminar, twilight tech panel, exhibit hall, CCS tech &CCSpanel, & CVLS CVLS classes & more! namb.org/FOCUS classes & more!

namb.org/FOCUS

Stop & Smell the Milestones

BY MICHAEL COLLINS Rates are too high, there is no business out there!

Really? Well, do you know the five life events that generate real estate activity in any economic environment?

And do you ever think about how they can impact your business? Or how you can focus your marketing on these events?

Let’s review:

For context: in the Baby Boom generation there were 75 million boomers. Think about the huge impact they’ve had on our economy at every stage of their lives. The Millennials total 90 million, so we would be wise to expect a bigger impact. Thus, a good demographic to focus some marketing on.

So, my daughter-in-law is selling five bridal gowns a week. She and her mom regularly do “trunk shows” where they feature a specific designer. Yet no one, whether realtor or mortgage professional, has ever approached her about sponsoring a trunk show, or simply offering to be a mutual referral source.

This is a huge demographic that will be buying homes for the next 10 years and no one pays attention to it.

Use this to think similarly about other life events and create marketing strategies around them to generate more business.

Real estate investors now represent 25% of all real estate sales. Not a life event but worth mentioning.

• Birth • Death • Marriage • Divorce • Work transfer, relocation or change in lifestyle (i.e., moving to assisted living)

Have you given any thought to these life events? If you know that 65% of marriages end in divorce, do you have any relationships with divorce attorneys? If you know that most couples buy a house within one year of getting married, do you have any relationships with bridal shops or anyone in the wedding industry?

My daughter-in-law and her mom own a bridal shop at the Jersey shore. They say millennials – who are now between the ages of 18 and 41 – are starting to get married.

If we acknowledge these life events, then it makes sense to incorporate them into conversations with your referral sources as well as with the people you meet and talk to day to day.

How do you do that? By asking “who” questions.

“Who do you know that just had a baby and needs another bedroom?” NC Michael Collins is a business strategist, success mentor and creator of “Street Smart Marketing for Loan Originators; No B. S. strategies that really worked for me.” Email coach@michaelcollinscoaching.com or call 732-620-8541.

NAMB LRC

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