Non-QM and Construction Products; Training and Events Nationwide and at Home
People vote with their feet. Some population movements are dramatic and garner headlines around the world, others not so much. “About 130,000 more residents left California for other states last year than came here from them…” according to a Sacramento Bee review of the latest census estimates. “They most often went to cheaper, nearby states — and Texas. Since 2001, about 410,000 more people have left California for Texas than arrived from there. That’s roughly equivalent to the population of Oakland.” Perhaps some of those vacated houses will be purchased by Zillow who the Houston Chronicle is telling us is launching a service called Zillow Offers early next year in Houston. Zillow will be making cash offers on homes from qualified sellers and then will list the house for sale.
Lender Products and Services
“Non-QM loans closing in 2 weeks or less: ClearEdge Lending is service driven and sets itself apart by focusing on simplicity and speed at point-of-sale. Issuing LE’s/CD’s, full underwrites, loan scenario requests, or bank statement reviews completed same day or next day. Submission to close as fast as 11 days. Non-QM products are critical in today's lending environment and at ClearEdge we are a leader in the space offering a broad menu of programs for mortgage brokers. We do not offer Retail lending and are the end-investor which allows us to make critical credit decisions - - same day. As a year-end special, we are waiving our Admin Fee if you submit your loan by 12/31. Contact our head of Production, Matt Shaw, for more info.
Now that we are half way through Q4 and planning sessions are under way, more lenders are searching for volume and margin. Look at Construction lending and Rehab lending (203K/Homestyle/Fix and Flip) and let CFSI Loan Management, a full service construction risk mitigation company, help you manage the construction process from beginning to end. “With our technology and experienced team, we help our lending partners ensure that the contractor and project feasibility phase is reviewed prior to loan approval and after loan funding we provide full service fund control (including lien releases) and a national inspection platform that allows our clients to ensure that the project is progressing on time and the percent complete is accurate for funding each draw. Lenders manage credit risk, CFSI manages construction risk. Let CFSI Loan Management help you with your renovation or ground up construction loan programs.” Please contact President Brian Mingham for information.
HomeScout®-HBM helps lenders close 2 to 3 more transactions a month by enhancing consumer engagement, and introducing them to a home buying experiences that is as seamless as their favorite online shopping app. HomeScout provides consumers 100% MLS listing data and the ability to get preapproved, collapsed into a single user experience. Automated alerts for newly listed homes drive buyers back to the app and loan officer for detailed pricing information and helps prevent online rate shopping. The HBM Dash monitors buyer activities and provides critical business intelligence through online activity reporting, automated alerts and one-touch communications to engage buyers and convert more purchase transactions. Build trust with borrowers by providing the right information at the right time, without the distractions from strangers who bought their private information online. Find out more by contacting them HERE and scheduling a demo or give them a call at 952-831-0623.
Trainings and Events
Did you miss Todd Duncan’s 3 Steps to Achieve Massive Success in 2019 Broadcast last week? If so, don’t worry, you’re in luck! Todd just announced that he’s replaying the broadcast three more times this Thursday for FREE. If you want 2019 to be your best year ever, clear your schedule for this powerful 45-minute broadcast that promises to teach you how to build a success plan to 5x to 8x your current income, without working any additional hours. Todd’s passion is to equip you to have a different life experience! Join Todd this Thursday to learn the formula to achieve massive success in your business and your life as you head into 2019. What do you have to lose? It's FREE! Click here to grab your spot, and don’t forget to bring a friend!
Fintech is evolving faster than ever, and consumer expectations for speed, convenience and personalization are at an all-time high. Lenders find themselves continually identifying and integrating new technologies, often without knowing whether they’re making the right choice to grow their business. Implementation. Total Expert and Guaranteed Rate will share top strategies to empower your organization with the right technology. Explore how to establish pre-implementation goals that ensure success, avoid common implementation mistakes, onboard in record time, bolster adoption rates and design a future-proof tech stack for revenue growth. Interested but can’t attend? Sign up anyway to receive the recording.
XINNIX wants to help all mortgage professionals get ahead of the curve in 2019 and discover how they can take their individual and branch production to new heights through the power of effective planning. Register for the free webinar, Business Planning for Success, schedules on November 14th at 10 AM ET.
MCT, a mortgage hedge advisory and secondary marketing software firm, announced the upcoming launch of MSRlive!, a powerful web-based platform designed to effectively support lenders’ efforts to build, maintain and optimize their servicing portfolios. MSRlive! delivers highly accurate pricing for servicing portfolio valuations by automatically evaluating scenarios using more than 400 different factors that are fully customizable based on lender preferences. Users can effectively forecast and manage their portfolios, predicting the impact of market shifts. The solution will be officially released at the IMN’s first annual Residential Mortgage Servicing Rights Forum in Los Angeles on November 5th. Interested parties can join an upcoming MSRlive! webinar that will be held on November 15th for additional information.
HomeReady® mortgage can help more of your low- to moderate-income borrowers become homeowners with as little as 3% down. Join Fannie Mae on November 15 at 2PM ET for a live webinar geared toward loan officers (but open to all lenders and housing professionals). This webinar will demonstrate how HomeReady features can help you serve more borrowers and grow your business and discuss flexibilities specific to HomeReady.
Ditech’s November’s training schedule is currently posted.
The 2018 NAMB National Conference will be held December 8th-10th at Caesar’s Palace, Las Vegas. Larry King will be speaking, as well as many mortgage luminaries including a session featuring Freedom CEO Stan Middleman and Angelo Mozilo comparing the beginnings of their companies, the evolution of lending, and discussing their thoughts on what the future holds.
On December 11th, industry leaders, Patrick Stone and Ken Markison will take you inside the economic environment and alert you to the compliance concerns ahead in 2019. Save your seat and register for this Economic and Regulatory webinar today.
Join October Research, LLC 2PM ET Dec. 11 for its annual Economic and Regulatory Outlook webinar. Hear from Patrick Stone, Executive Chairman & Founder of Williston Financial Group and Ken Markison, Of Counsel at Weiner Brodsky Kider PC as they walk you through the economic environment and compliance concerns you need to be aware of in the coming year. Register today at www.OctoberStore.com.
Don’t miss registering for the December 15th NMMLA annual Teddy Bear and Blanket Drive luncheon with guest speaker, Mayor Tim Keller.
National MI issued its training for December. A Look Ahead to Social Media Trends 2019: PDT, Dec 13 @ 12-1PM PST. Does your social platform appeal to the borrowers of today? Social media continues to grow as the new storefront for businesses to attract consumers. Join Kristen Messerli, founder of Cultural Outreach, and Managing Editor for Mortgage Women Magazine to discuss 2019 predicted trends and get your social media strategy ready for the New Year!
Oh, Shift! Session #3 – Flow: PST, Dec 12, 12-1PM PST, National MI University presents the third webinar in a powerful six-part series. Best-selling author and Executive Coach, Jennifer Powers, MCC’s “Flow” helps you learn how to practice acceptance of people and circumstances so you spend less time in resistance and more time in the state of peace, productivity…and flow…
The Mortgage Collaborative’s 2019 Winter Conference will take place February 17-19 at the J.W. Marriott in Austin, TX. TMC’s conferences are the only in the industry where the lender attendees craft the agenda, and not surprisingly, are very different from other industry conferences and events. The interactive agenda will feature over 30 lender led discussion-based educational breakout sessions, a heavy emphasis on peer-to-peer networking and experiences with third parties and exchange of best practices, with a sharp focus on lender growth and efficiency solutions. For more information, visit www.mortgagecollaborative.com or contact TMC COO Rich Swerbinsky.
Capital Markets
Optimal Blue’s Digital Loan Trading Platform, Resitrader, has experienced record growth over the last year in three key areas – trading volume, participant growth, and the expansion of offerings. The company reported that loan trading volume has increased over 300% in the last year, while simultaneously increasing the offer-to-purchase rate for sellers on the platform. Proving its reputation as the largest industry destination for digital loan trading, Resitrader also experienced phenomenal growth in new participants. Last month, Resitrader on-boarded 17 new sellers and has experienced 354% seller growth over the last year. Related to the expansion of offerings, the recent release of pricing and commitment automation with Freddie Mac and the added support for new loan trade types like AOT and CRA trades have brought considerable value to platform participants. Interactive Digital Loan Trading Platforms no longer seem to be a future vision for the industry – they’ve arrived and are thriving.
Despite yesterday’s bond market being closed, stocks grabbed the headlines with another precipitous drop. Economic data over the last week was mostly in line with expectations with the exception of the Producer Price Index. PPI in October increased a seasonally adjusted 0.6 percent, double the forecast of +0.3 percent. Excluding trade services, food and energy, PPI was up a moderate 0.2 percent for the month. Oil prices have been on the decline, however, since early October – and President Trump tweeted about it yesterday. The labor market remains strong with unemployment claims easing slightly and job openings and hiring remained at robust in October. And remember that mortgage applications slid 4.0 percent for the week ending November 2 with refis down 34.4 percent from a year ago and purchases down 3.36 percent as mortgage rates continue to tick up.
For economic news today, there isn’t much: the NFIB Business Optimism Index for October (bit of a down move), some “Fedspeak,” and the October budget deficit. We start the trading week with the 10-year yielding 3.16% and agency MBS prices better a smidge versus Friday’s close.
Jobs
Are you a branch manager who wants a bigger piece of the profitability you bring to your company? At Network Funding, we have a Producing Branch Manager compensation plan that puts the branch manager back in the driver’s seat with branch P&L visibility, control, and a bigger piece of the pie. Call or e-mail EVP, Brett Snortland to get your piece of the profit (832-545-4653).
New Penn Financial, a leading nationwide lender, is expanding its TPO channel with opportunities available throughout the country. New Penn offers an unparalleled product lineup to fit the increasingly diverse needs of today’s borrowers. Learn more about available positions and breadth of product from New Penn’s Regional Sales Managers. Dave Weatherford (South Central & Midwest Regional Sales Manager) and Shawn Crowley (Northeast Regional Sales Manager) recently joined New Penn from Quicken Loans and are excited to grow their teams. Seasoned New Penn Regional Managers Tony Hale (Southeast Regional Sales Manager) and Michael McCarthy (West Regional Sales Manager) are looking to increase production by adding AEs with industry experience. Reach out to the Regional Sales Managers above or to Mark Melini (VP National Wholesale Sales Manager) for more details.
SocialSurvey is expanding its national sales footprint and is looking for 2 National Bank / Key Account Managers. “SocialSurvey is the nation's leading mortgage reviews platform, now offering social media compliance monitoring as a part of its integrated platform. We also automate the complete resolution process for any negative reviews. SocialSurvey creates over 600,000 verified mortgage company reviews annually and shares those reviews more than 4,000,000 times on social media sites, Zillow and Google Reviews helping to boost online reputation. Social Survey also acts as a powerful enterprise feedback tool that drives employee engagement and behavior. We “Create WOW” for our partners. This is a great opportunity for somebody with the right experience and contacts. SocialSurvey is offering salary, commission and equity to the right candidate.” If this is fit for you, or you know somebody, send confidential resume and contact info to Pat Gaby.