NAMBCentral November 2022

The Magazine for the National Association of Mortgage Brokers NOVEMBER 2022

President’s Letter

to further increase NAMB’s positive impact in the mortgage industry. As a team, we will continue to promote the highest degree of professionalism and integrity in the mortgage marketplace.

BY ERNEST JONES, JR. It is an honor to have been installed as NAMB President 2022-2023 during the NAMB Conference in Las Vegas. The conference featured over 110 exhibitors, keynote speaker Randi Zuckerberg, amazing presenters, highly informative breakout sessions and a diversified group of excited mortgage professionals from states throughout the U.S. During the conference thirteen experienced and seasoned mortgage professionals were installed as NAMB’s Board of Directors. I will work with the board

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

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COVER PHOTO BY DANIELA ARAYA/UNSPLASH. ABOVE PHOTOS BY EDDIE ARROSSI/EAPHOTO.

In the upcoming year we will continue to focus on growing NAMB’s membership and sharing NAMB’s many contributions with members and the public alike. NAMB will remain focused on developing and nourishing relationships with industry partners and sponsors who thoroughly enhance NAMB’s ability to serve our members.

Additionally, NAMB will continue to work with legislative and regulatory entities to address issues which impact the mortgage industry.

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NOVEMBER 2022 IN THIS ISSUE Paying It Forward... 6

by Jilly MacDowell

Top Veteran Loan Originator Award Announcement... 7 Looking Back at #NAMBNational2022... 10

by NAMB Staff

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President’s Letter, CONTINUED FROM PAGE 3 >>

NAMB will endeavor to remain the trade association where mortgage professionals come to obtain mortgage related education and professional certifications. Classes like NAMB’s Certified Veterans Lending Specialist course can only be obtained at NAMB. There are many other features which separate NAMB as a one-of-a kind trade association, evident by its upcoming 50th year anniversary.

On behalf of the NAMB family, thanks to the many veterans and their families as we join Americans everywhere to celebrate Veterans Day on Friday, November 11th. Later this month, NAMB will present, in appreciation of service to veteran homebuyers, a Top Veteran Loan Originator Award to an outstanding mortgage professional (see page 7).

I am confident, with the support of our members, industry partners and many others, NAMB will continue to play a pivotal role in 2023 and beyond in the mortgage industry. If you are a mortgage professional and not a NAMB member I encourage you to visit namb.org/joinNAMB. Thank you for reading this edition of NAMBCentral!

Enjoy the Thanksgiving season and stay safe. NC

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By a Veteran, For Veterans

BY JILLY MacDOWELL Veteran Jim Moore is a veteran loan originator specializing in getting veterans the benefits they deserve. Yet, at the age of 76, with decades of VA benefits and loan experience, Jim got certified at #NAMBNational2022. He sees value in adding the "CVLS" designation to his title.

"I'll do just about anything to put myself in a better position to help veterans," he says, emphatically. "I'm a 100 percent disabled veteran and I know how frustrating the process can be."

Born in Shreveport, La., James Ray Moore didn't start out in mortgage. He served in Vietnam in 1967-68.

After his tour, he stuck around Hawaii and discovered a knack for talking to people and making money. He eventually held a substantial book of business selling printed forms.

Semi-retired at 42, he contracted with Xerox to get a handle on the island of Saipan, where he utterly dominated market share in two years. That led to a transfer to Arizona, where he now lives and works.

Professionally, Jim transitioned to the loan world in 2006. His company focused strictly on VA, which led to fruitful in-home visits counseling veterans on credit repair and VA benefits all over northern Arizona, sometimes a half-dozen veterans and hundreds of miles a day. It seems old-fashioned, but it's part of his business model to this day: Meet your customers where they are.

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Nov 2022

"THERE ISN'T ANYTHING I DON'T KNOW ABOUT VA BENEFITS." – JIM MOORE

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

Pulling together the necessary data and documents, even from the very first step (a Certificate of Eligibility), can be daunting if you don't know where to start.

And, all too often, a veteran's attempt to get a loan on their own ends in rejection.

“I was looking for a home and had been turned down by 12 lenders,” remembers a client of Jim's, Vietnam vet Steven VonAlman. “Vet Your Credit got my credit improved and got me financed. They stand by their word: 'Helping Vets get approved.’”

This is where a Certified Veterans Lending Specialist comes in. Analyzing credit, creating an action plan and helping to write pre-qualification letters will be part of a solid strategy as a CVLS. As the process continues, finding lesser-known options, like a no-money-down IRRRL (Interest Rate Reduction Refinance Loan) can be the difference between unhoused and homeowning for a veteran.

CONTINUED ON PAGE 8 >>

Applications now being accepted for NAMB’s next recognition award:

TOP VETERAN LOAN ORIGINATOR! Are you a state-licensed or federally registered loan originator who has served or is currently serving in any branch of the military?

NAMB wants to recognize you and thank you for your service!

You have dutifully served your country and your community and we want to spotlight you!

Visit nambawards.org to complete the eligibility application.

SUBMISSIONS WILL BE ACCEPTED UNTIL THURS, NOV 10, 2022.

AWARD RECIPIENTS WILL BE NOTIFIED ON FRI, NOV 11, 2022.

MUST BE A MEMBER OF NAMB TO APPLY.

By a Veteran, For Veterans, CONTINUED FROM PAGE 10 >>

So, navigating the VA loan process includes mastery of available products and up-to-date knowledge of eligibility and the nuances of veteran credit.

"My number one goal is financial stability first," Jim explains, "then educate them on homeownership – not just mortgage, but maintenance and pride of ownership." What gratification Jim Moore has felt in two decades of lending a hand to his fellow soldiers!

What he doesn't say is that he's also rebuilt his clients' self-worth.

The CVLS course gave Jim a light bulb moment. "I coined the phrase 'Vet Your Credit' for my business," he explains, "[and] I learned that it had the potential to become a charitable organization, a 501 3c, that could assist vets in their qualification process."

Essentially the org would offer the financial stability portion of Jim's services, allowing vets with old debt to "clean the slate to participate in credit society," preparing them to be viable borrowers. He's working on it now; expect to read about it in a future issue.

James Ray Moore, CVLS, was already a veterans lending specialist. Now he's NAMB-certified. NC Jim Moore is an Airborne Ranger, a mean mf’er & a bad go-getter. His company Vet Your Credit is based in Phoenix. vetyourcredit.com Jilly MacDowell is NAMBCentral’s editor, designer & publisher. She lives in Philadelphia.

CVLS training will cover all the basics if you’ve never done a VA deal before, but it’ll also dig into advanced topics like: • Proving eligibility for everyone including reservists and surviving spouses • Tips for getting DU & LP approvals, and why manual underwriting isn’t something to be feared • The truth about VA appraisals and especially “Tidewater" • Ways to find double the number of VA approved condos • New rules around refinances and being ready for when that market returns • Uncommon issues like assumptions, EEM, Rehab, non-owner occupant co-borrowers NAMB’s CVLS courses are regularly scheduled both in person and virtually throughout the year. The next course will take place at #NAMBFocus2023 in Orlando, Jan 12-14.

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THANK YOU TO NAMB’S INDUSTRY PARTNERS

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