April 2012 Volume 4 • Number 4
From The Publisher’s Desk A Message From NMP Media Corp. Publisher Joel M. Berman Leadership: A concept that goes beyond being just a manager
1220 Wantagh Avenue • Wantagh, NY 11793-2202 Phone: (516) 409-5555 • Fax: (516) 409-4600 Web site: NationalMortgageProfessional.com STAFF Eric C. Peck Editor-in-Chief (516) 409-5555, ext. 312 ericp@nmpmediacorp.com Joel M. Berman Publisher (516) 409-5555, ext. 310 joel@nmpmediacorp.com Andrew T. Berman Executive Vice President (516) 409-5555, ext. 333 andrew@nmpmediacorp.com Joey Arendt Art Director joeya@nmpmediacorp.com Jon Blake Advertising Coordinator (516) 409-5555, ext. 301 jonb@nmpmediacorp.com Beverly Koondel National Account Executive (516) 409-5555, ext. 316 beverlyk@nmpmediacorp.com Tara Cook Billing Coordinator (516) 409-5555, ext. 324 tarac@nmpmediacorp.com ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact National Account Executive Beverly Koondel at (516) 409-5555, ext. 316 or e-mail beverlyk@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.
Mr. Stone, who passed away in 2002 at the age of 100, emphasized using a ‘’positive mental attitude’‘ or PMA to make money, both for himself and for the millions of people who became his disciples through the self-help books and magazines he wrote, edited and published. A line is clearly drawn between a “manager” and a “leader.” A manager maintains the organization and runs the day-to-day repetitive functions with little passion to grow. On the other hand, a leader not only manages, but inspires the organization to grow and passionately seeks ways in which to inspire the team to both succeed and exceed their goals. The effective leader embraces the concept of PMA and starts off each day refreshed with a daily plan of action. Our featured editorial contributors for this month fit well into Mr. Stone’s vision of leaders. Despite the difficulties of our economy and the mortgage industry, each and every one of these authors looked for “that secret” to take adversity and turn it into success. As we look towards the future, each of us should look to build on the attributes of a leader. Managing loses its appeal in short time, while being a leader always gives you a chance to experiment and be creative and keeps you constantly replenished. Kicking things off this in our special leadership section is a piece by Daniel Milstein of Gold Star Financial, “The New Age of Leadership,” on page 36, where Daniel discusses the traits of what makes up a great leader in today’s mortgage marketplace. On page 37, John M. Robbins, CMB of Bexil American Mortgage and former president of the Mortgage Bankers Association (MBA), discusses the building blocks of what it takes to be a leader. David Lykken of Mortgage Banking Solutions, on page 38, takes a different approach and details some misconceptions about the role of a leader. On page 39, Hayes Barnard of Paramount Equity explains what he feels are the keys to leadership in his article, “Leadership: Igniting Extraordinary Results Through Passion, Purpose and Love.” On page 40, Erik Janeczko of Maximum Acceleration lists the five keys to being a successful leader in today’s mortgage market as measures such as the Dodd-Frank Act further regulate the industry. Wrapping up this section on page 41 is Dave Hershman’s article detailing the differences between the role of a “manager” and the role of a “leader.”
NMP’s Mortgage Professional of the Month … the butcher turned mortgage banker This month on page 22, we profile Danny Nicolo, president and chief executive officer of Meadowbrook Financial Mortgage Bankers. Danny’s story is one of hard work and dedication, as his career path and entry into the mortgage arena is quite a unique story as he got his start managing and working in his family’s Italian market. From there, Danny garnered the tools needed to grow his own mortgage brokerage business through referrals and word-of-mouth, eventually making the successful transition to becoming a mortgage banker.
The voice of a few leading an industry of thousands In addition to Danny Nicolo and our section on leadership, this month, we recap the very successful National Association of Mortgage Brokers (NAMB) 2012 Legislative & Regulatory Conference held last month in Washington, D.C. The voice of the mortgage professional was heard loud and clear on Capitol Hill, as the industry’s premier mortgage broker trade association met with their elected officials to convey the message of the mortgage community. Read all about it in this month’s installment of “The NAMB Perspective” beginning on page 12. Also on the topic of having the industry’s voice heard, George L. Duarte, MBA, CMC ties in the concepts of political advocacy and taking a leadership role in his article on page 34. George authored a bill, The Homeowners Retention Act of 2012, sharing his years of industry-related knowledge and addressing loans not covered by HARP 2.0—ARMs that are owned by other than Fannie Mae or Freddie Mac that are jumbos, monthly adjustable mortgages, Alt-A and sub-prime loans. George’s bill is under review by the lobbying team of the California Association of Realtors (CAR) and may be sponsored by CAR. George took the lead and realized that he can make a difference for an entire industry, as his single concept may have a positive impact on an entire industry should his bill come to light. I thank you again for taking the time to pick up this copy of National Mortgage Professional Magazine, either in print form or electronically, and hopefully, you come away from reading this issue with a multitude of ideas that can be positively implemented into your day-to-day business plans. Sincerely,
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National Mortgage Professional Magazine is published monthly by NMP Media Corp. Copyright © 2012 NMP Media Corp.
Joel M. Berman, Publisher NMP Media Corp.
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“Everyone who achieves success in a great venture, solves each problem as they came into it. They helped themselves. And they were helped through powers known and unknown to them at the time they set out on their voyage. They keep going regardless of the obstacles they met.”
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In this month’s issue of National Mortgage Professional Magazine, we will focus on those in the mortgage industry who have the vision to lead. A leader is defined best by W. Clement Stone in his discussion about “The Secret” where he wrote:
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