October 2010 Volume 2 • Number 10
Mortgage PROFESSIONAL N A T I O N A L
MAGAZINE
Your source for the latest on originations, settlement, and servicing
1220 Wantagh Avenue • Wantagh, NY 11793-2202 Phone: (516) 409-5555 / (888) 409-9770 Fax: (516) 409-4600 Web site: www.nationalmortgageprofessional.com STAFF Eric C. Peck Editor-in-Chief (516) 409-5555, ext. 312 ericp@nmpmediacorp.com Andrew T. Berman Executive Vice President (516) 409-5555, ext. 333 andrew@nmpmediacorp.com
A Message From NMP Media Corp. Executive Vice President Andrew T. Berman This month’s edition starts off with a great piece by Elaine Roccio on a topic we haven’t covered in a long time ... broker to banker. Read her article see just what “broker to banker” means in today’s world. How’s your ADDP? There’s a new word that is pronounced “Add-Pee” and stands for “Appraisal Defect Detection and Prevention.” Turn to this month’s “Ask Tommy: Your QC Expert” column to learn what this word means to you and your LQI. This month’s NAMB Perspective has some details on the NAMB/WEST program in Las Vegas in December from NAMB/WEST Conference Chair, Donald Frommeyer, CRMS, as well a great piece from Deb Killian, CRMS issuing a call to action for wholesalers. Another must-read piece is Gibran Nicholas’s installment of Trend Spotter. Gibran reveals three crucial numbers that you should know by heart as they can help serve as motivation to finish this year off strong. Dave Hershman shares his thoughts on the short-term and longterm direction of the marketplace in this month’s Secondary Market Overview. This month, we wrap up the three-part series where Jonathan Foxx dug his hands deep into the 2,000-plus pages of the Dodd-Frank Act. It is wrapped up by a look at the Consumer Financial Protection Bureau (CFPB).
This month’s Mortgage Professional of the Month We had a chance this month to shine the spotlight on a legend in lending and training, Paul Donohue. Paul shares his roots from being a builder, to being active in the North Carolina Association of Mortgage Professionals, to using his philosophy of using teams to help close a loan.
It’s all about the marketing Domenica Trafficanda Art Director domenicat@nmpmediacorp.com Karen Krizman Senior National Account Executive (516) 409-5555, ext. 326 karenk@nmpmediacorp.com
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Jon Blake Advertising Coordinator (516) 409-5555, ext. 301 jonb@nmpmediacorp.com Jennifer Moeller Billing Coordinator (516) 409-5555, ext. 324 jenniferm@nmpmediacorp.com
ARTICLE SUBMISSIONS/PRESS RELEASES To submit any material, including articles and press releases, please contact Editor-in-Chief Eric C. Peck at (516) 409-5555, ext. 312 or e-mail ericp@nmpmediacorp.com. The deadline for submissions is the first of the month prior to the target issue. SUBSCRIPTIONS To receive subscription information, please call (516) 409-5555, ext. 301; e-mail orders@nmpmediacorp.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 NMP Media Corp., or the officers or members of National Association of Mortgage Brokers and its State Affiliates (NAMB), National Association of Professional Mortgage Women (NAPMW), National Credit Reporting Association (NCRA) and/or other state mortgage trade associations. Participation in NAMB, NAPMW, NCRA, and/or other state mortgage trade associations 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 NMP Media Corp., NAMB, NAPMW, NCRA, and other state mortgage trade associations. National Mortgage Professional Magazine, NAMB, NAPMW, NCRA, and/or other state mortgage trade associations 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 NMP Media Corp. publications. National Mortgage Professional Magazine and NMP Media Corp. reserve the right to edit, reject and/or postpone the publication of any articles, information or data. MO
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OCTOBER 2010 ILLINOIS
MORTGAGE PROFESSIONAL MAGAZINE
NationalMortgageProfessional.com
ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact Senior National Account Executive Karen Krizman at (516) 409-5555, ext. 326 or e-mail karenk@nmpmediacorp.com.
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National Mortgage Professional Magazine is published monthly by NMP Media Corp. Copyright © 2010 NMP Media Corp.
What does this phrase mean? Technically, everything you do is marketing. Sure, there are many things about outbound communication, such as direct mail, e-mail marketing, Web site promotion, search engine optimization (SEO), etc., however, it so much more than that. It’s how you communicate on the phone with your clients, its about the appearance of your e-mails to your borrowers from your processors, how a servicer rep deals with payment issues on the phone, and basically any interaction you have with your borrowers and potential referral sources. This month, we collected articles from some of the leading minds in the mortgage business to share their thoughts, strategies and secrets on marketing. The section starts off with Mortgage Dashboard Chief Executive Officer Rene F. Rodriguez sharing his thoughts on controlling your marketing processes. Renee is followed by the “View From the C-Suite” by David Lykken discussing the difference between sales and marketing, and developing a powerful marketing strategy that fits you business plan. Further in the section, Andy W. Harris, CRMS from Vantage Mortgage Group Inc. teaches us about executing long-term marketing strategies which include personal development. Direct mail maven, Joy Gendusa from PostcardMania talks about how direct mail is still relevant in today’s marketing environment. While we are on the subject of direct mail, be sure to check out the piece by John A. Woloshen of RATA Associates on using HMDA and CRA data for target marketing. The section is wrapped up with a piece from Jeff Solomon of Leads360 about cultaivating consumer experience from the early stages of the sales process.
An opportunity to share and grow At the beginning of this year, I saw video by Carl White of Mortgage Marketing Animals about sharing your ideas. In the video, Carl lights a candle and shares the flame with others in the room. As he shares, the light becomes stronger, yet his flame does not go down. You can see the video at nmpmag.com/flame. As an example, taking what you’ve learned in your market and sharing these successful strategies with others from around the country. This year, I witnessed this firsthand at the Mortgage Revolution events that have been held nationwide. I mention this because one of the last chances to meet with other mortgage professionals from around the country is coming up Saturday-Monday, Dec. 4-6 at NAMB/WEST 2010 in Las Vegas. For more details about this event, visit www.NAMBWEST.org. Until next month ...
Andrew T. Berman, Executive Vice President NMP Media Corp.