NAMBCentral May 2024

NAMB is looking forward to our 33rd Annual Legislative and Regulatory Conference!

As the only volunteer-driven national organization representing mortgage brokers, we’re excited to host members of the U.S. Congress, FHFA, HUD, Freddie Mac, the National Housing Conference, UnidosUS and many more national thought leaders.

See page 7 for the complete show guide!

NAMB understands the importance of its role as the only volunteer-led organization focusing nationally on improving the industry landscape for mortgage professionals & borrowers. For generations NAMB has worked solely to represent its members’ best interests & we are grateful for the ability to lobby for positive change, hand-in-hand with our members.

Our members & board members will spend a day at the Capitol building speaking with lawmakers, voicing their positions on matters that impact their livelihoods.

Priorities for 2024 include the Homebuyers' Privacy Protection Act (HR 7297 & S.3502), The Love Lives on Act of 2023 (S. 1266), and H.R. 2827, the Captain James C. Edge Gold Star Spouse Equity Act. See page XX for all of NAMB’s 2024 Policy Prioirities.

NAMB remains steadfast on the forefront of change. We work with Congress to improve the climate in which our members & non-members work, a responsibility we take seriously.

We are a volunteer-led, member driven organization which cares deeply about the mortgage industry, is not influenced by outside entities, and has a singular purpose: to keep the industry strong for our members while creating a better environment for everyone involved within the homeownership lifecycle. NC

May 2024

President’s Letter

Meet NAMB’s People 4

BY VALERIE SAUNDERS

Rick Bettencourt, Massachusetts

TECH: Origination Transformed 6

by Lending Pad

TECH: Data Security & Outsourcing 8

by Outsource Broker Support

TECH: Modern Pricing Engine 10

by Lender Price

NAMB Celebrates AANHPI Month 12 Looking Back at LRC 14

by Jilly MacDowell

NAMB’S TRAVELING LUNCH & LEARN HEADS TO TEXAS & GEORGIA THIS MONTH. WANT A ROAD SHOW IN YOUR TOWN? NAMB@NAMB.ORG

IN THIS ISSUE Windsor Mortgage 5 EPM 6 Plaza Home Mortgage 7 AT&T 8 Floify 9 Arive 10 Loansifter by Optimal Blue 11

#NAMB50 $50 OFF RENEWALS UNTIL AUG 22 namb.org/membership

Direct all inquiries to NC editor & publisher Jilly MacDowell: magazine@namb.org. ©2024 NAMB All rights reserved.

For the last 50 years, NAMB has been volunteer led & member driven. The month of April – in particular our conference in DC – was an amazing example of what happens when a group of like-minded people come together for a common cause. (See page 14 for a photo gallery!)

Our committee chairs are a dedicated group of individuals who work hard to support the mission of NAMB. DEI Chair Nora Guerra put together an awe-inspiring lineup of speakers as part of our opening DEI Day. Discussions focused on closing the gap for Black & Brown communities through homeownership, appraisal bias, and the mission of the GSEs in making homes more affordable through the various programs available.

The day culminated in a panel discussion featuring members of our DEI committee. Thank you to Laura Brandao, Libra Branch, Esther Castillo-Lerma, Andrew Dort, Toshia Drummond, Mosi Gatling & Candy Sirirotpiboon for sharing their experiences & passions in helping their communities.

Government Affairs Chair Marvin Hudson worked closely with his committee & NAMB’s lobbyist, The Williams Group, to create a packed agenda for Legislative & Regulatory Day. Speakers included VA Loan Guaranty Service Executive Director John Bell; Rep. Emmanuel Cleaver; Rep. Warren Davidson; FHFA Director Sandra Thompson; Acting Secretary of HUD Adrianne Todman; Freddie Mac Deputy CAO Jeff Markowitz; President & CEO of CSBS Brandon Milhorn, and Rep. John Rose.

The conference concluded with Lobby Day on Capitol Hill to discuss NAMB’s legislative priorities with our members’ Congressional representatives. The hard work of Marvin & his committee is an important aspect of NAMB’s mission. CONTINUED ON PAGE 11

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

May 2024

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Meet NAMB’s People RICHARD M. BETTENCOURT, JR., CVLS, CRMS NAMB VOLUNTEER TECHNOLOGY COMMITTEE CHAIR, PAST PRESIDENT 201819 President, Veteran Mortgage Brokers rick@vetmortgagebrokers.com Licensed in 2003 Danvers, Massachusetts A subject matter expert on the VA Home Loan Benefit & Mortgage Origination, Rick Bettencourt is a dedicated & passionate mortgage professional. He takes consumer advocacy & protection to a level only a select few embrace. He actively lobbies in DC for the fair & equal access to credit for our consumers & small business.

Rick’s Technology Committee update: Taking over from Director Mike Farrell, we finalized our partnership with RoomVu, an incredible service to really help market the individual via social media. Next we’re talking to tech compliance companies to help brokers with FTC policies & procedures.

How does NAMB membership help you? The education & committee [opportunities] that come with it have helped me differentiate myself in my market. The knowledge to confidently advise a customer on legislation & policy changes that have occurred & why – and also being able to share that I was a part of some of that reform – is a game changer!

What else could NAMB offer its members? Focus on helping small business mortgage brokers remain compliant. I've learned a lot on my own regarding requirements that are not on the NMLS provided checklists. Regulators EXPECT you to know FTC & other regulations!

What was your first paying job? I delivered newspapers for the Boston Globe for three years in high school so I could secure a $5,000 scholarship for college.

Nonprofit cause you’re passionate about: I'm the current President of the Veterans Northeast Outreach Center in Haverhill, MA. This non-profit provides integral services for our Veterans who are either homeless, in need of basic services, transitioning in place, or just looking for information.

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May 2024

Describe a career highlight: Helping a Gold Star Widow, whose husband was killed in action in Afghanistan, refinance her MA home several times to make improvements using her VA Home Loan Surviving Spouse Benefits. I've had the honor of assisting many Gold Star Widows and/or Surviving Spouses! NC

April 2024

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Transforming Mortgage Origination ...FOR LENDERS, BROKERS, BANKS, CREDIT UNIONS & WHOLESALERS LendingPad, a leading provider of innovative solutions for the mortgage industry, proudly announces its comprehensive suite of origination solutions designed to empower lenders, brokers, banks, credit unions & wholesalers with the tools they need to thrive in today's dynamic market.

In an era marked by rapid technological advancement & shifting consumer expectations, LendingPad remains committed to driving innovation & revolutionizing mortgage origination processes across diverse segments of the industry.

LendingPad's versatile platform caters to the unique needs of various stakeholders within the mortgage ecosystem, including lenders, brokers, banks, credit unions & wholesalers. With a robust suite of features & customizable workflows, LendingPad empowers each segment to streamline operations, enhance efficiency & drive sustainable growth.

■ Flexible Configuration: LendingPad offers customizable configura-

across every stage of the mortgage lifecycle, empowering stakeholders to navigate the complexities of origination with confidence & ease.

■ Advanced Automation: Leveraging advanced automation capabilities, LendingPad automates manual tasks, accelerates decision-making & enhances overall efficiency, enabling stakeholders to optimize workflows & drive productivity.

■ Real-Time Collaboration: With built-in collaboration tools,

LendingPad facilitates seamless communication & interaction among borrowers, loan officers, underwriters & other stakeholders, fostering transparency & efficiency throughout the lending journey.

■ Seamless Integration: LendingPad's open architecture integrates with a diverse network of partners, allowing stakeholders to connect their preferred solutions & streamline workflows effortlessly.

■ Comprehensive Compliance: Built-in compliance checks &

safeguards ensure adherence to industry regulations, mitigating risk & providing lenders with peace of mind.

tions tailored to the specific requirements of lenders, brokers, banks, credit unions & wholesalers, ensuring seamless integration with existing systems & processes.

Whether it's expanding market reach, improving customer experience or maximizing operational efficiency, LendingPad empowers stakeholders to achieve their strategic objectives with confidence. NC

■ Comprehensive Support: Whether it's loan origination, processing, underwriting or closing, LendingPad provides comprehensive support

LendingPad is a modern LOS for brokers. Offering centralized & compliant automated technology to the mortgage industry, this cloud-based LOS is built to scale. Visit lendingpad.com to learn more!

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May 2024 | NAMB: TECH PARTNERS SECTION

Data Security & Outsourcing HOW TO STRUCTURE OUTSOURCING BASED ON YOUR BUSINESS NEEDS Data security remains a critical topic of discussion across all outsourcing models. This is further compounded by the different requirements & standards based on the country where the outsourced staff are located.

When evaluating potential partners for outsourcing, you should feel comfortable asking questions that enable you to understand their data protection and IT security capabilities & competencies.

Let’s review the two most common models of outsourcing used in the mortgage industry: outsourcing companies & direct contractors.

Direct contractors, as the name suggests, are employed directly by a business to handle operational tasks. This direct link means that the contractor & the company are fully responsible for the IT & data security infrastructure related to that role.

The utilization of personal IT assets by contractors introduces potential security vulnerabilities. These external devices create a point of entry that is not fully managed by internal IT security

protocols. In the event of a cyberattack, isolating such an asset from the core network might be challenging, and it may not be possible to deactivate the contractor's device remotely.

There are options to mitigate these risks; one being to supply the contractor with an IT asset from your business. However, due to the challenges of shipping valuable items internationally & the associated costs, this is not a solution many have the resources to undertake.

Another approach is to engage an outsourced staff provider, the second most common outsourcing model favored by the mortgage industry.

Some questions arise when assessing the data security capabilities of an outsourced provider: “What do I know about the organization I am entrusting my business and client information to?” “What standards do they meet?” and “How is this measured?”

The chosen provider should be incorporated in the country where the staff are based. It should also be possible to request their specific data security and incident management policy and the preventative measures in place to protect your clients & your business.

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AT&T 8

May 2024 | NAMB: TECH PARTNERS SECTION

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Depending on each provider's service offer, they should be able to supply clear evidence of their organizational capability, which can be verified with a certification from a recognized body.

One certification to look for is the ISO 27001 certification. This is the highest international standard for data security. I would encourage anyone reading this article to research how ISO 27001 sets the global standard for Information Security Management Systems (ISMS). Not all providers possess this certification, but those that do offer all their clients the highest level of security.

You can also request full details of the physical location where IT infrastructure is stored and what backups & countermeasures are available in the event of a breach or other unexpected circumstances from any potential provider.

Critically, when asking questions regarding certifications or international standards, these must apply to the overseas entity. It is overseas where the tasks are being completed, and it is also where the risks need to be managed.

For years Outsource Broker Support has supported Mortgage Brokers with offshore staff from our ISO-certified facility. We provide full details to each client on our IT infrastructure, data protection, security protocols & policies.

Our priority is meeting the needs of our clients in all forms of compliance & protection. We are a transparent organization & engage each client on a personalized basis to ensure their needs are fully met. We also extend an invitation to all of our clients to visit our global headquarters located in Manila.

Often, the key when engaging any outsourcing partner is asking questions about what you can’t see, not what you can. NC Outsource Broker Support is a market-leading outsourced services provider specializing in the finance sector. We understand the challenges brokers face: how to drive down costs, scale resources & technology to support needs & goals, and deliver consistent, compelling client experiences. Visit obsupport.com.au to learn more!

NAMB: TECH PARTNERS SECTION | May 2024

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Modern Pricing Engine UNCOVER THE BEST RATES & PROGRAMS FAST In the fast-paced world of mortgage, staying ahead of the curve is paramount. With the industry constantly evolving & client demands becoming more sophisticated, leveraging technology has not only become advantageous but is also essential for mortgage brokers.

Among the most transformative tools available to brokers today is the modern pricing engine. The right one can revolutionize the way brokers operate, enabling them to access the best rates & loan programs swiftly & efficiently. Let’s delve into how modern pricing engines benefit mortgage brokers & enhance their overall efficiency.

First & foremost, modern pricing engines offer mortgage brokers unparalleled access to a vast array of lenders & loan products. Broker Marketplace by Lender Price is an excellent example. By tapping into a comprehensive selection of rates & programs, brokers can instantly compare pricing & products, saving valuable time & effort. Rather than logging into different investor portals, brokers can run pricing scenarios in minutes, empowering them to provide their clients with quick options & the most competitive rates available.

Furthermore, these engines enable brokers to tailor their recommendations to meet the unique needs of each client. Whether a client is seeking a conventional loan, an FHA loan or a specialized program such as DSCR or non-QM, brokers can quickly identify the best-suited options

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May 2024 | NAMB: TECH PARTNERS SECTION

that make the most sense for the borrower. This level of personalization not only enhances the client experience but also increases the likelihood of securing a favorable outcome.

In addition to streamlining the search process, modern pricing engines help mortgage brokers optimize their profitability & reduce costs.

Moreover, these engines often integrate advanced analytics & forecasting tools, enabling lenders & brokers to anticipate market trends & capitalize on emerging opportunities.

Another significant advantage of leveraging a modern pricing engine is the enhanced efficiency it brings to every aspect of the mortgage process. Modern pricing engines can help streamline workflows, minimize paperwork & reduce the risk of errors. This increased efficiency not only saves time but also allows brokers to handle a higher volume of transactions without sacrificing quality or accuracy.

Additionally, mortgage brokers can differentiate themselves in a crowded marketplace & attract a broader client base with fast access to an expanded selection of products. In today's digital age, consumers expect seamless & convenient service, and brokers who leverage cutting-edge tools are better positioned to meet these expectations. By demonstrating their commitment to innovation & efficiency, brokers can establish themselves as trusted advisors & industry leaders.

The benefits of using modern technology in general extend beyond individual brokers to the entire industry. As more brokers adopt modern CONTINUED ON NEXT PAGE

CONTINUED FROM PAGE 12

pricing engines & other advanced technologies, the industry as a whole becomes more competitive & dynamic. This increased competitiveness ultimately benefits consumers by driving innovation, lowering costs & expanding access to affordable housing options.

In conclusion, the adoption of modern pricing engines represents a significant paradigm shift in the mortgage industry. By harnessing the power of technology, brokers can access the best rates & loan programs available, tailor their recommendations to individual client needs, optimize profitability & enhance overall efficiency.

Moreover, brokers who embrace technology are better positioned to succeed in today's increasingly digital marketplace, ultimately benefiting both their clients & the industry as a whole. NC Lender Price's Marketplace has made it easier for mortgage brokers to originate loans from anywhere, send out pricing comparisons & find the ideal loan for their borrowers. Lender Price is free for brokers, giving them access to the best pricing for every type of loan! Visit lenderprice.com to learn more!

Thank You, NAMB Strategic Sponsors 20/20 Vision for Success | Aduvo | AT&T Berman Media PD | BrandStar | Broker CMO | BrokerVA The CE Shop | Chelsea Gardner Marketing | CIC Credit FinCen Report | Firstline Compliance| Guide Mortgage Licensing HP | Loan Team Training | MoveTube | Mutual of Omaha Mortgage National Notary Association | Post & Beam | Preferred Systems Purple Thread Marketing | Roomvu | Scotsman Guide Strategic Compliance Partners | Vonk Digital

Thank You, NAMB Benefit Providers CardTapp | EC Purchasing | Inman | Lanis Tier One Listing Booster | LiveSwitch | MBS Highway My Home IQ | OnCourse Learning

namb.org/sponsors | namb.org/providers PRESIDENT’S LETTER, CONTINUED FROM PAGE 3

Membership chair Mike Farrell has spent endless hours promoting the importance of membership in NAMB. Since October 1, NAMB has added more than 900 Professional & Associate members! In addition, our retention rate is consistently above 60 percent, well exceeding the industry standard. Mike & his committee focus on what potential new members are looking for in the organization; how NAMB communicates with its new & renewing members upon joining or renewing, and what NAMB can do to advance the organization through membership growth.

His accomplishments since the start of NAMB’s fiscal year are amazing & truly appreciated!

The individuals listed above are a small number of volunteers who have contributed their time, energy & effort to NAMB. I will continue to recognize our committee chairs in the months ahead.

If you would like to be a part of a NAMB committee, please join our Community Builders, who meet monthly to discuss NAMB’s activities & what the organization can do to help. NC NAMB: TECH PARTNERS SECTION | May 2024

11

Describe a work highlight.

As AZAMP President from 2021-2023, overseeing the re-start, if you will, of the organization post-COVID. A lot of exceptional people on the board got us going again, which led to a record turnout at AZAMP’s Fall 2021 Expo.

Gary Ogami Owner/President, Pinnacle Peak Lending, Inc. Scottsdale, Arizona

Why did you choose mortgage? While I worked for over a dozen years in transfer agent operations with a large investment management services company, I had an interest in real estate, more specifically, the finance side of it. I left that industry to pursue home financing as a loan officer, obtained my license & opened my own brokerage!

What do you love about your current position?

Helping people achieve homeownership or improve their financial situation is makes the job so rewarding.

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May 2024

NAMB CELEBRATES

Asian American, Native Hawaiian & Pacific Islander Heritage Month

What was your first paying job? I worked as a proof of deposit (POD) operator for Wells Fargo Bank, part-time after school each day.

to help me put together my newsletter each month. As for LOS, I'm currently exploring options. Any suggestions, anyone!?

Describe your professional mentor: I'd have to say Michael J. Maher, with whom I conferred frequently right before transitioning from an LO to starting my own brokerage. He was relatively new as well, but he was supportive & encouraging. I also liked his approach to building relationships. He authored “The 7 Levels of Communication.”

Your healthiest habit?

Starting CrossFit 2.5 yrs ago, even though I probably should have started it 12.5 years ago, LOL.

Favorite business app: Oooh, good question! Podium has been helpful with helping manage online inquiries. I also like Chat GPT as a quick way

Favorite vacation spot? I'd have to say Hawaii (Maui, Kauai, the big island) or Mexico (Cabo or Cancun) Where do you see yourself in 10 years? I think I see myself still doing what I've been doing - helping people reach their financial goals via the service I provide. Maybe a little less as I would be well into retirement age... but not much less!

Thuan Nguyen Loan Factory, CEO San Jose, California

Why did you choose mortgage? I love to help consumers buy a house & save a lot of money!

What motivates you in your current position? The sky is the limit. I [hope] to expand Loan Factory so that there are more consumers receiving excellent services & lower interest rates.

What was your first paying job? I worked as an assembly worker in a factory at minimum wage.

If you could have a career doing anything else, what would it be? None. I love what I am doing now.

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NAMB CELEBRATES

Asian American, Native Hawaiian & Pacific Islander Heritage Month CONTINUED FROM PAGE 13

How does NAMB membership help you? I have learned so much from NAMB leadership & networking with others brokers/loan officers.

NAMB National events are a great occasion for me to learn so much from lenders & other successful loan officers.

What’s your favorite hobby?

Watching movies.

Your healthiest habit? Going to the gym daily.

Favorite vacation spot?

Cancun!

Where do you see yourself in 10 years? Running the same company but so much bigger!

Candy Sirirotpiboon Director of Client Relations, PCV Murcor Pomona, California

What motivates you in your current position? I love helping people. With the teams I lead, I always try to instill that every file we handle has a homeowner behind it.

For our part of the transaction, I want to make sure it’s a smooth customer experience.

If there is an issue, let's be proactive in resolving it to communicate what the next steps need to be & not delay the transaction.

Why did you choose mortgage? I have always been interested in Real Estate and helping people. These interests combined led me to

PCV Murcor, which is a nationwide appraisal management company. We help homeowners & clients every day by being their advocate during the appraisal process. The owner & CEO Keith Murray's words stuck with me when I first started with the company: “Behind each appraisal may be a first-time home buyer or a customer we are helping make their homeownership dreams come true.”

What was your first paying job? My first paying job was at Taco Bell when I was in high school. I worked every position from the food line, food prep, cashier, drive-thru, etc. As I look back, I think that's where my desire to know & learn all positions came from. Taco Bell encouraged me to learn every position so we can be cross-trained to help where we need to.

Favorite vacation spot? I have two: Ko Chang, Thailand & Vientiane, Laos. Ko Chang

translated is Elephant Island.

It’s located along the Eastern part of Thailand near the border of Cambodia. The untouched beauty of the rainforest & pristine teal blue beaches are truly breath taking. Vientiane, Laos, is where my mother's family lives. It's wonderful to return home to lots of aunts, uncles & cousins. The outdoor markets & temples are my favorite places to visit & see in Vientiane. Street food is a must – Gordon Ramsey did name Laos as one of the world's top food destinations!

Where do you see yourself in 10 years? I would love to say in 10 years I would be in early retirement sitting on a beach in Ko Chang but I am far from retirement age! I see myself continuing to advance in my career, expand my reach in helping clients & lead successful teams. I am looking forward to what the future holds! NC These NAMB members are also volunteer DEI committee members.

May 2024

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ABOVE: The Honorable Sandra Thompson spoke with NAMB president Valerie Saunders. NAMB’s volunteer DEI committee debuted with a panel discussion.

ABOVE: Acting HUD Secretary Adrienne Todman. Freddie Mac’s Scott Reuter. CSBS’s Brandon Milhorn. Rep. Emmanuel Cleaver II (D-TN). Freddie Mac’s Pam Perry.

Photos by Jilly MacDowell.

BELOW: NAMB’s Jim Nabors & Freddie Mac’s Jeff Markowitz. Ohio delegates prepare to lobby. UnidosUS’s Laura Arce & NHC’s Charles Lowery III take questions.

BELOW: NAMB’s Ross Miller & Rep. Warren Davidson (R-OH). NAMB’s Cathy Lee, Kimber White, Ross Edwards & Rocke Andrews. Government Affairs chair Marvin Hudson.

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May 2024

NATIONAL ASSOCIATION OF MORTGAGE BROKERS ANNUAL CONFERENCE