Nov. 21: Controller, MLO jobs; broker, U/W, sales, leads, workflow tools; upcoming events & training

Government shutdown worries, the impeachment hearings, the trade war, video of a bear stuck in a car near Lake Tahoe… Is there anything good happening out there? For one, my cat Myrtle seemed tickled pink when I told her that we had earned a mention in the most recent J.D. Power “Top 100 Daily Mortgage Commentaries That Mention Cats.” Either that or she was totally disinterested, which, knowing her, is probably more likely. I’ve lost track of the number of awards and rankings that individuals and companies are either placed in, can buy a place in, or are included in merely by submitting their self-reported information. Everyone gets a trophy! Any veteran deserves much, much more than a participation trophy. With a nod toward that, did you know that any veteran or transitioning veteran receives a free year of LinkedIn Premium? Pass this along to your clients.

Employment

Celebrity Home Loans, “CHL,” is seeking to add an experienced controller to its team. Opportunities exist at the Controller level for the right candidate. This is a great opportunity for someone looking to advance their career through additional oversight and visibility into all the financial departments of operating an independent mortgage banking organization. This position reports into the Company’s Chief Financial Officer. The position can be located in its headquarters in Oak Brook, IL, at any of its many locations through the US, or virtually. A demonstrated history serving as a controller for independent mortgage bankers in areas of accounting, financial reporting, profit and loss statements, balance sheets, financial statements, and strong AMB experience is desired. CHL is licensed in 23 states and has a 50-state licensing strategy it intends to complete by 2021. All confidential inquiries should be directed to Michele Skibinski.

On top of record setting growth throughout the year, Thrive Mortgage has added additional talent to their North and South Carolina markets. Thrive is thrilled to announce the additions of Susan Hamel, Area Manager for North & South Carolina, and John O’Brien, Branch Manager for the Charlotte, NC market. “Making the decision to join Thrive Mortgage was an easy one that I based on my four specific requirements: Communication, Culture, Collaboration, and Community,” stated Hamel. “After meeting with the executive team and department heads, I knew this was home for me. I thought it was impossible for a lender to have a family-centric, engaging culture and operate like a multi-billion-dollar lender. I’ve discovered exactly that with Thrive!” For more information on opportunities to help you grow your business in 2020, please visit join.thrivemortgage.com.

New American Funding has hired Marlene Veal as VP of its Western Builder Division to help New American Funding expand its new construction business on the West Coast. Congratulations!

Lender products & services

Digital Mortgage platform, Maxwell, has just announced its partnership with Fannie Mae including the availability of Desktop Underwriter (DU) approvals within the platform. Without leaving Maxwell, lending teams can receive DU results in seconds and, leveraging Maxwell’s FlexLetter tool, issue a pre-approval letter. This new release further simplifies a lending team’s day by reducing the need to jump from platform to platform. Instead, they can utilize a central hub throughout their day to increase team efficiency and effectiveness. To learn more about this and all the other features for Maxwell, click here to request a demo and learn more.

“Check out Data Facts’ new eBook, Your Ultimate Guide to Finding the Best Mortgage Leads. In this eBook, we’ll help you generate better, more targeted leads, expand your awareness of modern lead generation tactics, and debunk some of the common misconceptions about mortgage lead generation. Download the free eBook here. Keep Data Facts in mind as a trusted partner for lead generation tools, such as For-Sale Monitoring, Pre-Qualifications, Customer Retention Alerts and more. Talk with a live person and take advantage of our personalized support. Our 100% US based customer support team can help you close more loans, faster and easier.”

Fiserv has developed a mortgage ecosystem that enables a single, streamlined lending and borrower experience. If you are struggling with some of the common issues that are preventing your lending operation from achieving a true digital mortgage, take a look at its new infographic. It defines what Fiserv’s mortgage ecosystem is, details the critical components of it and provides a map to take you there. It even includes pertinent statistics that explain why a mortgage ecosystem is essential and offers compelling reasons why lenders should take action now on the digital mortgage process. Ready to get started? Email mortgagedirectorsales@fiserv.com to set up a meeting today.

ARMCO Reduces QC Turn Times with ACES’ New Parallel Workflow CapabilityACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced several product enhancements to its auditing platform, ACES Audit Technology™. ACES’ new parallel workflow increases efficiency by enabling multiple analysts to concurrently evaluate different parts of the same loan. It also automates task prioritization to assure the fastest cycle times for each loan. Other noteworthy enhancements include ACES’ new auto-answer feature that uses business rules to automatically answer audit questions based on available loan data, and enhanced single sign-on that can reduce on-boarding time by 50 percent or more. “Most lenders at least attempt some level of parallel activity in their QC workflow,” said Trevor Gauthier, ARMCO’s new CEO. “Our decision to enable parallel workflow was in direct response to market demand.” READ MORE

Freddie Mac Single-Family is ALL FOR reducing barriers and raising hope. Freddie Mac is expanding the thinking around affordable lending and inspiring others to do the same. With All For HomeSM, we’re leading the way through providing insights, education, mortgage products and business solutions that address the needs of today’s borrower and of The Borrower of the FutureSM. Rising home prices and interest rates, coupled with a lack of entry-level inventory, are increasing affordability challenges. Demographic and cultural shifts, migrations from rural to urban, first-time homebuyers with thin-credit files and complex processes pose additional barriers to achieving the American dream. It takes collaboration and partnership to innovate solutions that make a positive impact. Learn more about All For Home, discover key insights to inform your business and take advantage of solutions and tools that will enable your borrowers to make Home Possible®. All in.  All of us.  All For Home.

Last week, Executive Managers, market leaders, and top producers for Thrive Mortgage gathered in Dallas to plan out what more the growing lender will do in 2020 to ensure they have the undisputed best platform in the industry. “Our goal isn’t to be the biggest, our goal is to be the best!” stated Randell Gillespie, National Sales Director. “We offer a legendary lending experience to the consumer, and we are always looking for ways to build on our past success.” Chief Financial Officer Michael Jones added, “Whether it’s improving our product offerings, our technology platform, or our internal process, the mentality of ‘Be the BEST’ is at the heart of every decision we make.” For more information on growth opportunities in your market area in 2020, please visit join.thrivemortgage.com.

NEXA Mortgage is growing faster than a cheetah can pounce on a limping rabbit. Find out why this pure broker has attracted and retained so many Loan Officers in such a short period of time and how they are positioned so well for explosive growth in the broker channel. There is a webinar at www.NEXAmortgage.com/support that starts at 1pm EST/10am PST. There they will go into a deep dive of how NEXA operates and why they feel they are the best possible option for Loan Officers entering the broker channel. Consider making the transition from retail to broker and see what all the hype is about.

This holiday season, TMS is putting the CARE in CAREspondent Lending. For every new lender that partners with TMS before the end of the year, they will donate $250 to Family Reach— a national non-profit dedicated to alleviating the financial burden of cancer. You can sign up here today!

Events & training

Nick Hunter and Ray Brousseau are hosting a River City Mortgage opportunity meeting on tomorrow the Nov. 22 at 11-12 ET. Go to https://global.gotomeeting.com/join/178568085; Dial in: +1 (408) 650-3123; Access Code: 178-568-085.

With so much going on in the mortgage industry, you need to be up-to-speed on the latest before heading into a busy 2020. December 2nd-3rd in Newport Beach, the California MBA’s 2019 Western States Legal Issues & Regulatory Compliance Conference will be held at the Newport Beach Marriott Hotel & Spa. Don’t miss the California Consumer Privacy Act (CCPA) Workshop on Tuesday, December 3rd from 1:30-3:30 pm.

In Phoenix Az. on December 4th? MBA’s Whole Loan Trading Workshop is your opportunity to hear directly from industry experts who are involved in the buying and selling of whole loans and get the intel you need about this niche market. View the packed agenda to see what we’ll be talking about and who you’ll hear from.

Jingle and Mingle on December 5th in San Jose, CA, from 11AM-2PM the Silicon Valley Chapter of CAMP has its annual luncheon featuring Dave Cortese (on the Santa Clara Board of Supervisors) and yours truly. If you’re in the area, come on by Maggiano’s Little Italy.

October Research, LLC will present the Regulatory Outlook 2020 webinar  3- 4:15 p.m. Thursday, December 5th. Dodd Frank Update will interview Fannie Mae’s Doug Duncan on the economy and the industry. MBA’s Justin Wiseman and NATIC’s Valerie Jahn-Grandin will follow sharing their insights on the critical regulatory changes ahead and outline how they will impact your business. Learn the latest on the Corporate Transparency Act, eClosings/RON regulations, Cybersecurity and state privacy laws, the future of the GSE Patch, Safe Banking Act and cannabis, consumer protection, state regulatory oversight and TRID.

On January 9th the Puget Sound Mortgage Lenders Association is having its general meeting in Fife, Washington. Yours truly will be there speaking about the economy, lending trends around the nation, and the importance of customer service.

The Mortgage Collaborative will host its winter conference at the historic Roosevelt New Orleans on February 16-18, 2020, just a week before Mardi Gras takes place. TMC’s conferences boast the highest LTV (lender to vendor) ratio of any industry conferences and are an incredibly interactive and impactful experience for its lender members, whom TMC allows to dictate the content, format, and agenda for their events. For more information on TMC or the upcoming event in The Big Easy, contact their COO Rich Swerbinsky.

In March, the Lenders One Summit is about new connections, ideas and opportunities. “We are excited to continue the momentum in Miami this March, as we celebrate the 20th anniversary of the cooperative. In this challenging market, we’re focused on continuing to bring new solutions to support your business. Our member and provider networks are the keys to driving our co-op ahead in this industry, and we’re excited to gather at Summit to provide a forum for you to grow and learn from thought leaders and peers.”

Capital markets

Looking at rates, U.S. Treasuries, and mortgages, rallied again on Wednesday after the Senate voted unanimously in favor of an annual review of Hong Kong’s special status, which led to concerns that the act could get in the way of trade negotiations with China. Markets received conflicting afternoon reports that the partial trade deal with China may or may not get signed this year. In world economic news, the People’s Bank of China lowered its prime rates, and the European Central Bank’s latest financial stability review identified weak bank profitability and increased risk taking on the part of shadow banks as top risks in the eurozone. Domestically, the Minutes from the October FOMC meeting showed that most policymakers saw interest rates as “well-calibrated” and believed that there are greater benefits in using balance sheet tools to cap short-term interest rates rather than managing longer-term rates. Some participants voiced support for increasing bank reserves above levels that prevailed in early September as an “extra buffer.”

Today’s calendar is underway with Initial Jobless Claims for the week ending November 16 (227k, highest since June) and the November Philadelphia Fed Survey (up to “10.4”). Later this morning brings October Existing Home Sales and Leading Indicators, a Treasury $12 billion reopened 10-year TIPS auction, and appearances by two Fed Presidents: Cleveland Fed President Mester and Minneapolis Fed President Kashkari. We begin the day with Agency MBS prices roughly unchanged and the 10-year yielding 1.76% after closing at 1.74% yesterday.

It’s the day before Thanksgiving, and the butcher is just locking up when a man begins pounding on the front door.

“Please let me in,” says the man desperately. “I forgot to buy a turkey, and my wife will kill me if I don’t come home with one.”

“Okay,” says the butcher. “Let me see what I have left.” He goes into the freezer and discovers that there’s only one scrawny turkey left. He brings it out to show the man.

“That’s one is too skinny. What else you got?” says the man.

The butcher takes the bird back into the freezer and waits a few minutes and brings the same turkey back out to the man.

“Oh, no,” says the man, “That one doesn’t look any better. You better give me both of them!”

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. The current blog is, “Fannie & Freddie: A Snapshot” If you have both the time and inclination, make a comment on what I have written, or on other comments so that folks can learn what’s going on out there from the other readers.

Rob

(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. Currently there are hundreds of mortgage professionals looking for operations, secondary and management roles. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2019 Chrisman LLC. All rights reserved. Occasional paid job listings do appear. This report or any portion hereof may not be reprinted, sold or redistributed without the written consent of Rob Chrisman.)