Become a VA Loan Expert 4
by Jilly MacDowell
NAMB Salutes
Veteran Members 6
It’s Licensing Season 8
by Chris Sturdivant
Could You Benefit from Virtual Sta ? 10
by Joel Henry
NAMB National 2024 Recap 12
Plaza Home Mortgage 4
The CE Shop 5
Newrez 7
Arive 8
jimnabors@namb.org
BS in Industrial Management, Univeristy of Akron, 1976
Originating in Greater Cleveland, Ohio, since 1976
NAMB member since 1993, NAMB President 2005-2006 & 2024-2025
Awards include NAMB Broker of the Year 2001, Presidential Award of Merit 2000 & OAMB Broker of the Year 1993
What motivates you in your current position? NAMB has helped give me a better life & I want to give others that opportunity. In doing so our members help people achieve the American Dream of homeownership and that ain't bad.
Describe a work highlight: Being on the Today Show as President of NAMB in 2006. The subject was 50-year mortgages & what I thought the advantages or disadvantages were. I didn't tell anyone but my wife & was surprised how many people I know that actually watched TV at 7:30 in the morning! My phone blew up.
Describe your mentor: Most of the skills I've used in my working life came from my father who taught me a few simple rules. Honestly, I'm good with any of them.
The audience at NAMB National 2024 chose Amir Syed as the winner of Windsor Mortgage’s Battle of the Coaches.
Strategic Compliance Partners 9
ICE Mortgage Technology10
EPM 11
Social Media Honey 13
Direct all inquiries to editor & publisher Jilly MacDowell: magazine@namb.org.
©2024 NAMB All rights reserved.
1. Family always comes first. No exceptions.
2. Treat everyone as you'd expect to be treated.
3. Never be afraid to hire someone smarter than you who could someday be your boss.
4. Hire good people, treat them well, train them well & get out of their way.
5. Surround yourself with those who are strong where you're weak & weak where you're strong.
6. Lead, follow or get out of the way.
What was your first paying job? Brooklyn (Ohio) High School, summer of 1971. I was the manager for a tee ball team of 5-year-olds.
If you could have a career doing anything else, what would it be? I would have been a teacher, as I'm the only one in my family who didn't become a public school teacher. I've had the opportunities to talk about financial education with high school & community college students, and found it very satisfying.
Your healthiest habit? Listening to my doctors & my wife of 48 years, Cindy.
What’s your favorite hobby? Trying to keep up with my 3-year-old grandson Leo – and naturally I'm a Browns season ticket holder.
Nonprofit cause you’re passionate about: Besides NAMB & the OAMP (Ohio Association of Mortgage Professionals), I'd say the American Red Cross & serving our seniors.
How does NAMB membership help you? Since becoming a member of NAMB I've been involved in Government A airs to help protect our industry. I’ve taken advantage of the NAMB’s educational opportunities & technology help. Now, at 70 – the oldest President in NAMB history – I'm learning social media & looking forward to this new world. NM
As per the VA Home Loan Guaranty Buyer’s Guide, the VA-Guaranteed Home Loan program has helped generations of Veterans, Servicemembers & their families enjoy the dream of homeownership and the opportunity to retain their homes in times of temporary financial hardship.
ONLINE CERTIFICATION
JUST ANNOUNCED: DECEMBER 12!
NAMB.ORG/CALENDAR
NAMB is pleased to announced the CVLS course & annual renewals is now FREE for Veterans! namb.org/cvls
It’s our responsibility as L.O.s to help veterans take advantage of this hard-earned benefit. In brief, we know that VA loan generally means no down payment, no loan limit with full entitlement, no need for PMI or MIP, competitive terms & interest rates, fewer closing costs & no penalty for early pay-o . But to maximize this benefit, a veteran needs their L.O. to know all the nuances.
A new survey has revealed that more veterans & service members are feeling ready to enter the housing market. Said MPA magazine recently: Veterans United Home Loans, a VA lender, launched a new index to gauge financial readiness & homebuying sentiment among veterans, service members & civilians. The survey showed that veterans & service members are particularly optimistic, with 74% planning to buy a home within the next year, compared to 69% of civilians. This newfound optimism comes as financial confidence improves.
The CVLS certification was conceived in 2017 & launched under then-NAMB president Rick Bettencourt Jr’s oversight to
BY JILLY MAC DOWELL
“give an elevated level of knowledge to a community that has been under-served for many years.” He’s been teaching the course ever since, along with Je Wilson (see our Veteran member profiles on page 6).
“L.O.s often ignore the VA,” says Bettencourt, “who have been open & public about their inability to disseminate the information.” Stigmatized as a hassle due to strict rules & regulations, there remains a lot of misinformation about VA loans. This course is designed to cut through the BS to get to the “how” for the subtle details. Conversely, there are workarounds to limitations if you know how.
Most of the time the classes are very interactive. “The students are really engaged,” Bettencourt says. “They ask a lot of questions. They’re there because they can pay back an unrepayable debt to service members by making the American dream of homeownership a reality.
“[With VA] I consider myself a benefit administrator, not a loan o cer. It’s Federal freakin’ law!” NM
Mortgage brokers & lenders are often required to obtain a surety bond as part of their state licensure process. These surety bonds act as a financial safety net & let the public (regulators & consumers) know that a mortgage broker or lender is financially responsible & capable of fulfilling their obligations.
Surety bond requirements are set by statute, and vary based on a company’s license type, jurisdiction & funding volume. Here’s a comprehensive list of recent changes to surety bond requirements, pricing & processes in several states:
• All new bonds are issued at a rate of $6 per $1,000 in liability for bonds up to $250k (excluding CA CFL bond)
• California Financing Law (CFL bond): This $25k bond is now freely issued by NNA Surety without any credit check or financial review at a flat rate of $250/year.
• Minnesota Mortgage Loan Originator bond: The minimum bond requirement
has increased from $100k to $125k. NNA Surety can provide this bond at a premium of $750/year, without any credit check or financial review.
• Individual MLO bonds in MI require an original bond form that is mailed from the surety (not submitted in the NMLS system)
• Kentucky requires both companies and individuals to be bonded ($250k for companies, $15k for individuals)
• Maryland has changed their bond limit requirements based on funded volume ($50k, $100k, $250k)
• Companies with aggregate liability exceeding $1M should be prepared for underwriting (owner’s credit, indemnity agreement, possible financials)
What to know when renewing your existing surety bond(s):
1. Renewal process: Most mortgage companies can renew their bonds simply
BY CHRIS STURDIVANT
by paying their annual premium on time. For larger companies with greater than $1M in aggregate liability, the insurance underwriter may ask the company owners for an updated credit report and/or financials.
2. NMLS Filing: Bonds issued in the NMLS system are “continuous” bonds & are valid until cancelled by the underwriting insurance company. There’s no need to refile annually at the time of renewal.
3. Rider requests: If your address changes, or bond liability amount changes due to current funding volumes, the insurance companies will issue a rider in the NMLS system documenting the change. All riders will need to be signed by the principal(s) of the mortgage companies.
The surety bond process has never been easier for mortgage companies. Costs have dropped significantly in the past year. Bonds may be purchased easily online & obtained within minutes; NMLS filings can take a few hours after purchase. NM
Chris Sturdivant, VP, Bus Dev for NNA Surety Bonds & National Notary Association, is a licensed insurance agent in all 50 states. He works closely with licensing & compliance at the largest banks & non-bank mortgage companies in the country. nnasuretybonds.com
It’s the golden age of virtual work. My o ce is retrofitted with a microphone, ring light & staged background to impress my fellow coworkers on Zoom. I get up each day, walk down the hall into my o ce & plug in.
In recent years, virtual work has surged in popularity. This shift has not only transformed how businesses operate but has also redefined where we find our employees to run & scale our mortgage companies.
files & processing them with a high degree of accuracy. Am I the only one doing this? Not even close. JP Morgan Chase alone has 15,000 employees in the Philippines!
How do I manage everything? For one, I’ve built a very structured company where every role has an SOP. Even though we’re a small company, we run like a big one. Every person knows how they are measured, what measured success looks like & are given access to the reporting on how they are doing at any given moment.
BY JOEL HENRY
Explore how to build a mortgage ops team using cost e ective & talented overseas sta ! First, know that there are many talented U.S. mortgage professionals overseas, specifically in the Philippines, where the major U.S. banks and mortgage companies operate. Second, know that you can get a compliant overseas assistant by going thru companies like BrokerVA to meet state regulations for licensed loan activities for LOA’s & processors. Third, trust that if you invest time in training & onboarding, overseas sta perform incredibly well.
Many of the people I work with are now on the other side of the world. Even though they’re based in the Philippines, I still spend my days with them mostly face to face. We use the term “virtual assistant,” but the reality is my employees are underwriters, loan o cer assistants, processors & compliance experts. They are structuring
I also mastered the basics of building a virtual company, which most importantly, revolves around requiring that everyone turn their video on in meetings during working hours. It’s simple, but it’s the main ingredient in building a virtual culture where everyone knows each other.
And fourth, be willing to point the finger at yourself when things are not going as planned. Most of the time, it’s the management structure, process or SOP that needs improvement when things are not going as you want them to. NM
Licensed in 20+ states, BrokerVA empowers smaller mortgage teams to compete with banks & direct lenders who lower their operational costs by sta ng highly trained mortgage professionals from overseas. Joel Henry is BrokerVA’s operations manager. brokerva.com
BY JASON FRAZIER
Attending NAMB National in Las Vegas last month was more than a “Vegas Experience,” it was a convergence of some of the industry’s most brilliant minds, innovative strategies & highimpact conversations. NAMB president Jim Nabors set the tone with a clear message: Mortgage professionals need to adapt & evolve.
The essence of NAMB National is to focus on what’s critical in our field today: Embracing education, technology & social media as keys to staying competitive & successful.
Jim shared how NAMB’s mission has shifted. In 2005, the mortgage industry’s top concerns were government regulation & compliance; today, the focus is squarely on equipping loan o cers with actionable education & cutting-edge tech insights. Social media, which didn’t even exist when rates were climbing past 6% in 2005, is now central to our interactions & influence.
Reflecting on rates over the decades — he’s seen everything from 18.5% in the '80s down to 2.25% — Jim’s perspective underscored that we’re in a constant state of change, and success comes from being prepared to adapt.
Jim’s description of the NAMB National lineup was spot on: industry MVPs delivering insights that push us to reach new heights. The energy of Las Vegas adds to the juice of connecting with like-minded professionals & visionaries, but the real value came from the lineup of speakers. We were surrounded by Olympic-level achievers who didn’t just share advice; they showed us a pathway to become the best in any market.
One message that stood out: “Get the right people around you. Be around the winners.” In a world where interest rates rise & fall, surrounding ourselves with earners, not quitters, is what makes all the di erence. Success in this business isn’t about waiting for perfect conditions but actively creating them. In that spirit, NAMB National challenged us to look at who we’re spending our time with & the influence they have on our trajectory.
The sessions at NAMB National were designed to cut through the noise & zero in on strategies that work. Barry Habib’s talk on “Overcoming Adversity & Finding Opportunity” was particularly resonant in today’s market, where many mortgage professionals are facing tough headwinds. His insights reinforced a truth we all know but sometimes need to hear from an icon like Barry: Challenges are simply set-ups for greater opportunities if we’re willing to look for them.
TOP: NAMB members strike a pose. CENTER: Coach Christine Beckwith of 20/20 Vision for Success. BOTTOM: This articleʼs author Jason Frazier of BrokerCMO with conference chief Valerie Saunders. Photos by EA Photo & Jilly MacDowell.
For those of us who are always on the lookout for ways to elevate our business, Neel Dhingra’s session on “Using AI & Content to Double Your Business” was transformative. AI isn’t just a buzzword; it’s a practical tool that can double our productivity & open doors to new client bases. Likewise, Christine Beckwith’s “10X Your Growth” session reminded us to aim high — not just in volume but in value. Her approach was about aligning your growth ambitions with actionable sales tactics.
Chris Vinson brought together some of the best coaches in the industry to talk about their insights on success & how loan o cers can win today with the Battle of the Coaches. Rick Ruby, Christine Beckwith, Amir Syed & Tim Braheem all brought the fire with their insight. Another highlight for me was my own session. I stressed the importance of keeping marketing real, relevant & revenue-focused.
CONTINUED ON PAGE 14
In a time when a lot of marketing advice can feel abstract, my goal was to provide a grounded, practical approach.
Ginger Bell put on a master class on AI while sharing real world insights on leveraging ChatGPT. And Paul Lucido took us into the “Marketing Multiverse,” breaking down which strategies genuinely convert, the channels to use & how to use them.
Throughout the event, a few powerful messages kept coming up.
1. Be Proactive with Clients: As Tim Braheem put it, “You don’t call your low-rate clients because you don’t know what to say.” The solution? Make it about them. Shift the conversation to focus on their goals, leveraging the wealth they’ve built.
2. Stop Waiting for a Savior: “Stop waiting for someone to come to save you. It’s up to you.” This memorable line from Barry Habib reminded us all that, especially in challenging times, no one will fight for our success harder than we will.
3. The Conversation Goes Beyond Rates: In a market focused on rates, we have to dig deeper. Our role is to demonstrate the potential in the wealth clients have accrued & how we can help them capitalize on it.
NAMB National wasn’t just an event; it was a turning point, a call to action for each of us to show up di erently in our business. As Jim Nabors said, the goal is simple: to equip us with the tools to “just win.” And with the insights & strategies we’ve gained, I believe that’s exactly what we’ll do. NM
Jason Frazier is the founder of BrokerCMO. Download your #NN24 headshots, photo booth & awards pix at namb.org/national!
