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September 2010 Volume 2 • Number 9

A Message From NMP Media Corp. Executive Vice President Andrew T. Berman

Mortgage PROFESSIONAL

YSP, we’ll miss you

N A T I O N A L

As the yield spread premium (YSP) rides into the sunset, we now have to find a better nomenclature to describe the “credit” that third-party originators (TPOs) will receiving for originating loans. On page 18 of this issue, you will find the new term that we feel will takeoff as an official term in the mortgage industry, replacing the old “YSP” as proclaimed by Jonathan Foxx. Later in the magazine, Jonathan continues his dissection of the Dodd-Frank Act in Part II of his series “A New Era of Mortgage Reform.”

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

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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

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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.

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.

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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.

MISSOURI MORTGAGE PROFESSIONAL MAGAZINE

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.

The future of the mortgage banking marketplace This month, we will focus on the future of mortgage banking. As we face massive changes in the industry, in this focus, we had our experts write about ways to deal with these constant changes. The section starts off with the change-master himself, Rene F. Rodriguez, chief executive officer of Mortgage Dashboard providing an overview of the future of mortgage banking and his perspective from a technology standpoint. Gibran Nicholas then shares his thoughts on why you can control change and how to adapt to the ever-changing marketplace. Then, we get to peek into Dave Zitting’s crystal ball to see the opportunities that await us as the market undergoes its metamorphosis. The section wraps up with David Lykken discussing the current state of the mortgage banking market from the perspective of the C-level executive and speculating on the unknown variables that lie ahead in the marketplace.

Our NMP Mortgage Professional of the Month Last month, we featured wholesaler Joe Amoroso from REMN. As we focus this month on the world of mortgage banking, we didn’t have to go travel very far away from Mr. Amoroso, in fact, we went just down the hall to a man who is considered legendary in the world of mortgage banking, REMN Chief Executive Officer Peter Norden. Peter (who is pretty young by industry standards) came out of retirement when he was faced with unprecedented opportunities presented in the secondary marketplace. Peter is a guy who trades mortgage-backed securities (MBS) on his personal account just for fun. I’m pretty sure you’ll find his insight and stories on the market helpful as you continue to survive in this ever-changing mortgage marketplace. We hope you enjoy this issue and take away from it, knowledge from our informative articles that will assist you in today’s turbulent marketplace. As the leaves begin to fall, action in the industry begins to heat up as I’d like to highlight two marquee events on the horizon. First off, Mortage Revolution will present “MRev New York 2010,” Friday-Sunday, Oct. 15-17 at the Westchester Marriott in Tarrytown, N.Y. For more information on this innovative industry event where the top minds are brought together in a forum to exchange ideas with the common goal of advancing the industry, visit www.mortgagerevolution.info. In December, the National Association of Mortgage Brokers will visit Las Vegas and the MGM Grand, Saturday-Monday, Dec. 4-6, for the 2010 installment of NAMB/WEST. This annual event will feature a number of informative breakout sessions, a jam-packed trade show in the exhibit hall, and much more. NAMB continues to fight the fight for the entire mortgage industry, not just the dues-paying members, so come on out to Vegas and see what NAMB has to offer. For more information, visit www.nambwest.org. Until next month ... Sincerely,

Andrew T. Berman, Executive Vice President NMP Media Corp.

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