Marketing, TPO, Cost Analysis Products; June's Remaining Training and Events
After nearly 100 years, Eskimo Pie ice cream will get a new name. (The name "Eskimo" is commonly used in Alaska to refer to Inuit and Yupik people, according to the Alaska Native Language Center at the University of Alaska. This name is considered derogatory in many other places because it was given by non-Inuit people and was said to mean “eater of raw meat.”) George Carlin had a thing or two to say about words and political correctness. (Rated a serious R.) Some suggest ridding ourselves of every library, town, or road named, or statue erected, after a Founding Father who owned slaves. Looking at who’s on the currency and coins of the United States, one can find something wrong with Washington, Jefferson, Roosevelt, Jackson, Kennedy, Franklin, Lincoln, and Grant. I raise this issue, whether we’re correct or being over-sensitive, because the mortgage industry is not immune from controversy. The latest example is Atlanta’s Equity Prime Mortgage which fired Melissa Rolfe, the stepmother of the Atlanta police officer who fatally shot Rayshard Brooks, and then posted the reason on Twitter. The termination made Fox News.
Lender Services and Products
Informative Research welcomes Sean Rogan as its VP of Client Success. Previously, Rogan was one of the original employees and the Managing Director of National Sales at LoanBeam for over 6 years. He was instrumental in taking LoanBeam to market from early inception to several hundred lender clients, GSE, and aggregator relationships. Before LoanBeam, Rogan worked for CitiMortgage for over 15 years as VP of National Sales and oversaw Wealth Management and Citi Employee Home Loan programs. “Informative Research has best in class technology, service, and support for their clients,” commented Rogan. “Its platform and leadership are tremendous, and continuously pushing the limits of technology. I couldn’t be prouder to be a part of this company and help build on those high standards.” Rogan will be focusing on the Mountain West region and supporting Informative Research’s GSE relationships. Feel free to connect with Rogan.
Mortgage Coach and Homebot have announced an integration to easily generate refinances from your past client database. What’s even better, your past clients initiate the refinance opportunities based upon the data in their home digest available through the Homebot borrower portal. From there, Mortgage Coach steps in to automatically create and share a Total Cost Analysis with the borrower. That means better time management and faster conversions. Register Here for the upcoming “Deep Dive: Homebot & Mortgage Coach”.
Once a customer, always a customer? Not with every lender. With homeowners moving 4-6 times in their life, and rates predicted to remain low for the foreseeable future, Home Point Financial’s “Customer for Life” program can significantly contribute to your bottom line. We want you to be there for every milestone of your customer's needs - from buying their first home to downsizing, refinancing and everything in between. "Customer For Life" keeps you front and center by including your photo and contact information on your customers’ mortgage statements and in our homeownership platform. And, since Home Point services 99% of its loans, that is a difference that compounds on an ongoing basis. It's time to make repeat business a dependable revenue stream. Ready to experience a true lender-TPO partnership? Contact us now.
Record sales and 50% lower cost per loan! How Steven Sless and his PRMI Reverse Division rocked their best months ever using direct mail: “You know, PRMI is just a powerhouse in the mortgage industry now. And Monster Lead Group has been an unbelievable partner. Monster knows what they're doing, they know how to make the phones ring, they know how to generate business, but they also know how important it is to help us grow a brand at the same time. It's a real marketing system. It's not just sending mail. I think the consistency of the campaigns is what we rely on… Our cost per funded loan is about 50% of the industry average… So that story should be told. We're able to grow and scale our operation because of the predictability of the Monster campaigns. That is what's allowed us to get to this point.” Want BETTER direct mail? www.monsterleadgroup.com/better-results
If you are looking for awesome speakers for your sales rally, your company meetings or your association events; Karen Deis has created Mortgage Women Speakers. Over 55% of the employees in the mortgage biz are women, yet only a handful of the featured speakers are women. Why hire a mortgage woman speaker? Because women add a unique insight to sales and marketing strategies, social media engagement, and providing inspirational messages. Executives include Christine Beckwith, Ginger Bell, Laura Brandao, Jodee Brydges, Tammy Butler, Karen Deis, Cindy Ertman, Susan Meitner, Megan Marsh, Jessica Petersen, Donna Quinsenberry, Kelly Resendez, Louise Thaxton, and Kelly Zitlow. Consider hiring women speakers for your next event and add a new perspective and a unique inspirational message for loan originators and managers.
Today (Monday) TMC is hosting, “State of the FHA Secondary Market” at 3PM ET with Kevin Peranio, Jason Madiedo, and yours truly.
On Tuesday, June 23rd MERS is offering an eNote webinar in which Fairway Independent Mortgage Corporation will share how to evolve eMortgage strategy post-launch and throughout the COVID crisis, and how Texas Capital Bank and Fannie Mae, worked with them. During this MERS webinar, you’ll learn valuable insight from all three companies that will inform your eNote strategy and set you up for success.
FHA’s Office of Housing Counseling is hosting a panel discussion entitled, “Social Distancing and Its Effect on the Housing Industry” on Tuesday, June 23rd. This live, virtual event will explore HUD’s role in helping homeowners in the midst of the COVID-19 National Emergency and the innovative concepts the industry is utilizing to maintain social distancing. Registration is required and space is limited, so early registration is encouraged. In addition, the webinar will be recorded and available for viewing on the Office of Housing Counseling Outreach page at a later date.
Arch MI’s latest online training opportunity, “Educating in the Virtual World,” offers easy, step-by-step instructions to setting up webinars, videos, virtual tours, interviews, demonstrations and more by using the most effective communications platforms in this complimentary June 23rd session.
Freddie Mac offers an Economic Outlook and Housing Trends Webinar on June 24th at 2:00 EST and hear from Rob Chrane, CEO at Down Payment Resource, Sam Khater, Vice President - Chief Economist at Freddie Mac and Laurie Goodman, Co-Director, Housing Finance Policy Center at the Urban Institute.
FHA is offering a free webinar, June 30th to discuss an update to mortgage credit underwriting standards, practices, and policies. The topics for discussion include COVID-19 documentation flexibilities, evaluating credit, income, and assets, manual underwriting criteria, and endorsement protocols.
Capital Markets
Despite increased outbreaks of the coronavirus, both around the nation and around the globe, potentially driving down economies, U.S. Treasuries were unchanged to close last week. Let’s quickly review some headlines. Arizona, Florida, Oklahoma, and Texas all reported their largest one-day increases in coronavirus cases last week. Separately, more than 1.5 million Americans filed for unemployment benefits in the most recent jobless claims figures, a larger number than expected and one that suggests a long road to recovery. But applications for U.S. home loans hit their highest level since 2009 as more Americans take advantage of low rates. And China took a step toward trade reconciliation with the U.S., agreeing to accelerate purchases of American farm goods from soybeans to ethanol to comply with the phase one trade deal. With its economy crippled by the coronavirus, its imports of American products are lagging way behind the benchmarks it needs to meet if it’s going to stick to the plan. The country has bought only 13 percent of the goal set in the trade pact in the first four months, but is committed to buying an additional $200 billion of American products by the end of 2021.
This week’s economic calendar is underway with the Chicago Fed National Activity Index for May (+2.61 from -17.89). Later this morning brings Existing Home Sales for May, before tomorrow reveals New Home Sales for May. In addition to the usual mortgage applications in the midweek session, markets will receive the June FHFA Housing Price Index. The busiest day on the calendar this week is Thursday, which sees Jobless Claims, May Durable Orders, Q1 GDP (third estimate), and advance May indicators. The week closes with May Personal Income and Spending, PCE Prices, and final June Michigan Consumer Sentiment Survey. Additionally, the Fed releases stress test results on the largest U.S. banks. Turning back to today, the NY Fed will conduct two FedTrade MBS purchase operations totaling up to $4.721 billion starting with up to $1.744 billion GNII 2.5 percent and 3 percent followed by up to $2.977 billion UMBS30 2 percent through 3 percent. We begin the day with Agency MBS prices basically unchanged from Friday and the 10-year yielding .69 percent after closing last week at 0.70 percent.
Employment and Transitions
“Do not miss out on this unique opportunity! PCF Wholesale is looking to hire top notch Sales Associates who are actively producing a high volume of business. We PAY for proven production both in sign on bonus and increased commissions while ramping up. Get in early with a proven wholesale lender. Tired of legacy issues with a potential employer? Not getting compensated what you deserve? As a Top Priced Lender on Loan Sifter from agency to FHA/VA, we have a home for your broker’s loans. We have tested and perfected and are now ready to expand. If you are an Account Executive, Sales Manager, and or Regional Manager (South East) in the Wholesale Mortgage Space, and are currently funding at least $5 million per month, we want to talk to you. If you are interested, please email Tom@pcfwholesale.com or visit PCFwholesale.com. Built for Brokers.”
“Caliber Home Loans to fill 150 jobs in DFW! Team Caliber is thriving with the support of our engaged leadership team. Ann Thorn, EVP of Operations and Servicing, was recently interviewed by CBS on June 16th to promote Caliber's incredible workforce growth. Our full-time openings cover the full spectrum of the mortgage business. We offer competitive salary and benefits as well as perks that go along with being a member of Team Caliber. No mortgage experience? That’s okay, we offer instructional programs to secure the foundation of your success. Now is the time to join this winning team! If you are interested in a sales opportunity at Caliber, please contact Brian Miller. For all other opportunities, please contact Jonathan Stanley for immediate consideration.”
“At ACC Mortgage, it is Christmas in July. The oldest Non-QM lender, who never stopped lending, is proud to announce the full return of all Non-QM products: DSCR, Super JUMBO, ITIN, P&L Lending, 80% Bank Statement. Feel free to use www.NonQMPricer.com. Join the NMP Deal Desk webinar with Robert Senko on July 2nd to talk about the new products and go over specific deal scenarios. https://madmimi.com/s/9986d01. We still have room for a few more experienced Non-QM AEs looking for a stable long-term home. We have the top comp plan in the industry with support, leadership, and stability. If interested in joining our family, please send your resume to the president, Robert Senko, for consideration.
Freedom to Succeed! Freedom Mortgage is growing and looking for talented and experienced Wholesale operational professionals to help us serve the needs of borrowers, brokers, and wholesale correspondents across the nation. Work from home opportunities for Loan Processors, Closers and Underwriters are available throughout the continental U.S. Prior to the COVID-19 pandemic, the vast majority of our teams already worked from home, so you will be ready to seamlessly and efficiently contribute to our goals on day 1! If you are fueled by your entrepreneurial spirit and are looking for a great work culture, please visit bit.ly/FMRecruiting to review available positions and submit your resume.
Sierra Pacific Mortgage is excited to announce the hiring of Jeff Lochmandy as its Vice President, Divisional Sales Director for TPO. Lochmandy joins Sierra with over 30 years of diverse leadership experience in mortgage lending. Previously, Lochmandy served as the Managing Director for Home Point Financial and its predecessor organization, Stonegate Mortgage and was a contributor to market share growth at both firms. Lochmandy's deep skill set aligns with our dynamics during a time when the wholesale marketplace calls for insight and innovation. His successful track record in business development, sales leadership, and market share growth, make him a significant asset to Sierra. Sierra Pacific Wholesale is actively recruiting AEs who want to be part of an organization where they have a voice and can make an impact. If you are in the Central or Eastern US, please contact Jeff directly (770.597.4672). Other states inquire at tposales@spmc.com.
“Too Many Leads. You may have seen our Intelliloan.com TV Campaign and its working too well. To many inquires not enough loan officers. Due to the recent Covid19 pandemic we are now hiring home-based experienced Loan Officers, nationwide. Start making money right away. If you hold a CA DBO License and at least one other state that aligns with our footprint, you will be a good fit. In business for over 25 years, we service our loans and know how to close them fast. We offer innovative technology, quality leads, and fast fulfillment. If you’re not making at least $25K per month, you need a change. Make Money, Have Fun, Help People. Contact Careers@intelliloan.com.”
Incenter, a Blackstone Portfolio Company, announced that Nick Costas has joined its team as SVP, National Sales working with Incenter divisions Incenter Appraisal Management, Incenter Insurance, Incenter Marketing, Incenter Technology and Silvernest, and its brands Boston National Title, CampusDoor, Incenter Mortgage Advisors (MSR trading) and underwriter Agents National Title Insurance Company (ANTIC).
Stewart Title welcomed Rich Shackelford as the new SVP of Sales for Lender Services to identify new business opportunities and maintaining key industry relationships to grow Stewart’s lender services offering. (Rich will report to SVP and National Director of Lender Sales Rich Kuegler.)
East West Mortgage announced that Steve Borgerson has been appointed President.
Scott Henley has joined Certainty Home Loans as the Division President – West Division, where he will be focusing on growth in the company’s existing Texas, Oklahoma and Colorado markets, as well as leading the company’s expansion into new markets.