October 2009 Volume 1 • Number 6
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 Domenica Trafficanda Art Director domenicat@nmpmediacorp.com Karen Krizman Senior National Account Executive (516) 409-5555, ext. 326 karenk@nmpmediacorp.com
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 of fact and opinion in National Mortgage Professional Magazine are the responsibility of the authors alone and do not imply an opinion on the part of NMP Media Corp. National Mortgage Professional Magazine reserves the right to edit, reject and/or postpone the publication of any articles, information or data. MO
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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.
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ADVERTISING To receive any information regarding advertising rates, deadlines and requirements, please contact Senior National Account Executive Karen Krizman at (516) 4095555, ext. 326 or e-mail karenk@nmpmediacorp.com.
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A Message From NMP Media Corp. Executive Vice President Andrew T. Berman It’s all about the marketing! Marketing is really such a broad topic and that is seen here in our special section, “It’s All About the Marketing.” It could be using tools like video, social networking as described in this month’s View From the “C” Suite by David Lykken, or using affordable tools and techniques as David Hershamn suggests in his article, “Low Cost Marketing Ideas,” Dave discusses increased phone usage, writing press releases and articles, and much more to get your name out there to the masses. For some, marketing is just about continuing to further your expertise by education and letting your community know that you are an expert on whatever facet of the industry you focus on as recommended by Gary Opper in his article “Mortgage Marketing 101.” No matter what medium you use to get your message out there, there is nothing more important than measuring the results. Sure, the concept of branding is great if you have a large budget or just want community awareness; however, most small- to mid-sized mortgage origination shops need to analyze and account for each dollar spent. Both Brian Sacks and Jeremy Crosslin did a great job of sharing their thoughts on closely scrutinizing your marketing campaigns in Brian’s “The Biggest Marketing Mistakes to Avoid and What to Do to Correct Them,” (even the most skilled marketers make these common mistakes on a regular basis) and Jeremy’s “Maximize Your Direct Mail Marketing Results by Raising Your Postal IQ,” a must-read for direct mailers).
How a trip to Vegas can help save your business and ensure a great 2010 This month, I will be heading to the 96th Annual Mortgage Bankers Association Convention & Expo in San Diego. There is no question about it, the people that I meet at this convention will be some of the top leaders and shakers of the industry. The focus is less of “What can I do right now?” and is more geared toward “How can I build my business in five years from now?” Of course, both are equally important to any business. From Saturday-Tuesday, Dec. 5-8, NAMB/WEST will be in Las Vegas at the MGM Grand Hotel. While it’s great to be able to attend both the MBA and NAMB/WEST, NAMB/WEST provides you with strategies and tactics that can help build your business right away! Everything from learning social networking skills, to video marketing, to productivity tips. Of course, there will be ample updates on the Secure and Fair Enforcement of Mortgage Licensing Act (SAFE Act), Mortgage Disclosure Improvement Act (MDIA), Home Valuation Code of Conduct (HVCC), the Federal Trade Commission’s Red Flags Rules and other regulatory acronyms that will have a major impact on how you will conduct business in the future. However, one of the biggest benefits of attending the 2009 installment of NAMB/WEST will not be found on the pages of the conference site … it’s the countless networking opportunities you’ll be able to take part in. I cannot tell you how many times I have seen conference and trade show attendees share their blockbuster marketing programs with someone who is not from their local market and not a competitor. Almost done as a braggart, however, with a little bit of altruism mixed in. More details about NAMB/WEST can be found at NAMBWEST.com.
Who cares what happens after this loan get closed? You should! Sure, I know that a good percentage of our readers are involved in mortgage banking operations and deal on a daily basis with the secondary market. Some are watching the trading of mortgagebacked securities (MBS), ready to lock their loan at any sign of a changing direction. As of last month, Dave Hershman has been providing a monthly overview of the secondary market. We have received positive praise from both secondary market amateurs and seasoned vets. Dave’s secondary market overview provides a strong foundation to truly grasp the concepts of mastering the secondary market and shed some insight on wether to lock or float.
NMP’s October Mortgage Professional of the Month This month, we have selected Frederick Assini, president of Franklin First Financial Ltd. as our Mortgage Professional of the Month. He is based out of Melville, Long Island, N.Y. Melville is, what I have always called, the “Irvine of the East.” There is more mortgage companies in that zip code than any other zip code in the country outside of Irvine, Calif. Melville served as home to industry titans like American Home Mortgage, plus nearly every mortgage company had a branch office in Melville over the years, including AmeriQuest, GreenPoint, National City, Wilmington National Finance and more. In the dust of the fallen companies remains a few left standing. One of them is Franklin First, led by Mr. Assini. He has taken a slow steady growth which was a trait he learned from his father. Besides having a nationwide branch network, he also has a growing wholesale operation known as Presidents First. There’s lots more to explore in the pages of this month’s issue of National Mortgage Professional Magazine. We hope our graphical table of contents will help you narrow down the “Must Read” articles and provide guidance on learning about subjects you didn’t know you “Should Read.” And as always, I want to close by thanking you again for dedicating the time to read this month’s issue of National Mortgage Professional Magazine. I also urge you to log on to our Web site, NationalMortgageProfessional.com, updated throughout the day, brining you the latest industry news as it happens. Sure, we live in a hectic world, juggling a multitude of tasks on any given day. It is our hope that, as you navigate the sometimes turbulent mortgage landscape, that we are there as a source for you to stay on top of the game, brining you the news as it happens. Sincerely,
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National Mortgage Professional Magazine is published monthly by NMP Media Corp. Copyright © 2009 NMP Media Corp.
Andrew T. Berman, Executive Vice President NMP Media Corp.