NMP - October 2016 - 48

✒ heard on the street continued from page 43 HARP is Back! T he Federal Housing Finance Agency (FHFA) has just announced it is extending HARP through Sept. 30, 2017. "Providing a sustainable refinance opportunity for high LTV borrowers who have demonstrated responsibility by remaining current on their mortgage makes financial sense both for borrowers and for the enterprises," said FHFA Director Melvin L. Watt. "This new offering will give borrowers the opportunity to refinance when rates are low, making their mortgages more affordable and thus reducing credit risk exposure for Fannie Mae and Freddie Mac." In order to be eligible for the new high LTV program, the FHFA stated that borrowers must fit the following requirements: l Must not have missed any mortgage payments in the previous six months. l Must not have missed more than one payment in the previous 12 months. l Must have a source of income. l Must receive a benefit from the refinance in one of the following ways: l Reduced monthly principal and interest payment. l Lower interest rate. l Shorter amortization term. l More stable mortgage product, such as moving from an adjustable-rate mortgage to a fixed-rate mortgage. OCTOBER 2016 n National Mortgage Professional Magazine n NationalMortgageProfessional.com 48 How to prepare yourself Plan Set them with dates and actually hold yourself accountable to attaining them. The number one reason mortgage professionals fail in the business is because they stop growing when the business is booming. The big mortgage shops grow and decline with the market but their trends are always up. This is due to riding market conditions while continuing to grow despite them. Research Most loan officers limit themselves to selling few very specific loans, when in fact they can sell everything ... it's time to diversify. There are plenty of loan products out there and the people that are closing the most loans every month are offering all the loan products. Find out what your competitors are doing to beat you every month and replicate. Then find out what they are missing and do that too! Business is often referred to as war for this reason. Market yourself and your business Call a marketing company to find out what is working. Marketing firms are the most under used and fantastic way to stay on top of market conditions. They always tell you what is working, and they have a good grasp on the state of the entire nation, not just your region. Spend some time and money getting your name out there. If you are not picking up five to 10 new leads per week, you are missing the boat. Many companies are supplying their loan originators with hundreds of leads per month. If you can close these leads at a rate of 10 to 15 percent, you are in for a really good month. TagQuest Inc. is a full-service marketing firm specializing in marketing for the mortgage industry. Call (888) 717-8980 or visit www.tagquest.com. IMAGINE * INNOVATE * SUCCEED SPONSORED EDITORIAL "This new forum is a continuation of a strategy that is designed to help us better understand our customers," said Ostrander. "At the same time, the Advisory Board will offer us useful insights that will help direct future product and service enhancements to ensure we extend the 'Power of Caring' to everyone with whom we do business." All quotes are guaranteed for accuracy and instantly returned in the proper TRID format. Fee quotes include transfer taxes, municipal recording charges, title insurance premiums and settlement costs across all 50 states. Clients can set up their settlement service providers' fees in the system or quote via LodeStar's national settlement agent partner, Res/Title. Top Vine Mortgage Celebrates Ellie Mae's Encompass all-in-one One-Year Anniversary mortgage management solution Top Vine provides one system of record that Mortgage enables banks, credit unions and Services LLC is mortgage lenders to originate and celebrating its fund mortgages and improve one-year compliance, loan quality and anniversary in business. Top Vine efficiency. plans to mark this milestone in "LodeStar is delighted to partner several ways and have already with Ellie Mae," said Jim Paolino, broken ground in expanding their CEO and founder of LodeStar. "Our current office space to secure, seamless integration enables accommodate the hiring of our clients using Encompass to additional loan officers. simplify the manual fee-quoting "As small business owners, we process for the Loan Estimate and are so fortunate to have successfully Closing Disclosure forms, so lenders made it through this first year" said of all sizes can process mortgage Vincent Cervo, managing partner. loans and grow their businesses "With interest rates remaining faster." historically low, our customers have taken advantage of the relationships Mortgage Professionals we've built with our lenders and to Watch received incredible deals. They are l A.W. Pickel III, a current member savings hundreds of dollars each of the MBA's IMB (Independent month, and we couldn't be more Mortgage Bankers) Executive proud of our role in helping them Council and the Freddie Mac IMB navigate tough financial decisions." Advisory Board, has joined "The majority of our customers Houston-based AmCap Mortgage are referral based," said Top Vine as president of its newly-formed Managing Partner Tom Pasckvale. Midwestern Division. Pickel, also "We greatly appreciate the loyalty past president of NAMB-The and continued support of our Association of Mortgage customers who recommend Top Professionals, will be responsible Vine. We are excited about for growing AmCap Mortgage's improving our core services over the retail brand and physical presence next year as we strive to contribute in the Midwestern states and to the mortgage industry and focus beyond, through both acquisition on delivering exceptional value to and organic growth. our customers." l HomeBridge Wholesale is strengthening its commitment to LodeStar Announces the Southeast region with the Integration With Ellie Mae's additions of Dennis Waxman and Encompass Rich Linderman, two noted industry veterans with wellestablished records of success in wholesale lending. Linderman joins LodeStar Software Solutions has HomeBridge as Florida area sales announced that its Loan Estimate manager, reporting to Waxman, Calculator is now available through who will oversee HomeBridge Ellie Mae's Encompass all-in-one Wholesale's Southeast sales as mortgage management solution. The regional sales manager. seamless integration allows lenders l Flagstar Bank has hired mortgage to access LodeStar's products industry veteran Don Klein to directly through Encompass to drive expand the reach of its quality and efficiency in the loan comprehensive subservicing origination process. offering, joining the company as Encompass users can instantly senior vice president of business and securely generate a quote from development. LodeStar's Loan Estimate calculator continued on page 58 without duplicating any data entry. http://www.NationalMortgageProfessional.com http://www.tagquest.com

Table of Contents for the Digital Edition of NMP - October 2016

Table of Contents
NMP - October 2016 - Cover1
NMP - October 2016 - Cover2
NMP - October 2016 - 1
NMP - October 2016 - Table of Contents
NMP - October 2016 - 3
NMP - October 2016 - 4
NMP - October 2016 - 5
NMP - October 2016 - 6
NMP - October 2016 - 7
NMP - October 2016 - 8
NMP - October 2016 - 9
NMP - October 2016 - 10
NMP - October 2016 - 11
NMP - October 2016 - 12
NMP - October 2016 - 13
NMP - October 2016 - 14
NMP - October 2016 - 15
NMP - October 2016 - 16
NMP - October 2016 - 17
NMP - October 2016 - 18
NMP - October 2016 - 19
NMP - October 2016 - 20
NMP - October 2016 - 21
NMP - October 2016 - 22
NMP - October 2016 - 23
NMP - October 2016 - 24
NMP - October 2016 - 25
NMP - October 2016 - 26
NMP - October 2016 - 27
NMP - October 2016 - 28
NMP - October 2016 - 29
NMP - October 2016 - 30
NMP - October 2016 - 31
NMP - October 2016 - 32
NMP - October 2016 - 33
NMP - October 2016 - 34
NMP - October 2016 - 35
NMP - October 2016 - 36
NMP - October 2016 - 37
NMP - October 2016 - 38
NMP - October 2016 - 39
NMP - October 2016 - 40
NMP - October 2016 - 41
NMP - October 2016 - 42
NMP - October 2016 - 43
NMP - October 2016 - 44
NMP - October 2016 - 45
NMP - October 2016 - 46
NMP - October 2016 - 47
NMP - October 2016 - 48
NMP - October 2016 - 49
NMP - October 2016 - 50
NMP - October 2016 - 51
NMP - October 2016 - 52
NMP - October 2016 - 53
NMP - October 2016 - 54
NMP - October 2016 - 55
NMP - October 2016 - 56
NMP - October 2016 - 57
NMP - October 2016 - 58
NMP - October 2016 - 59
NMP - October 2016 - 60
NMP - October 2016 - 61
NMP - October 2016 - 62
NMP - October 2016 - 63
NMP - October 2016 - 64
NMP - October 2016 - 65
NMP - October 2016 - 66
NMP - October 2016 - 67
NMP - October 2016 - 68
NMP - October 2016 - 69
NMP - October 2016 - 70
NMP - October 2016 - 71
NMP - October 2016 - 72
NMP - October 2016 - 73
NMP - October 2016 - 74
NMP - October 2016 - 75
NMP - October 2016 - 76
NMP - October 2016 - 77
NMP - October 2016 - 78
NMP - October 2016 - 79
NMP - October 2016 - 80
NMP - October 2016 - 81
NMP - October 2016 - 82
NMP - October 2016 - 83
NMP - October 2016 - 84
NMP - October 2016 - 85
NMP - October 2016 - 86
NMP - October 2016 - 87
NMP - October 2016 - 88
NMP - October 2016 - 89
NMP - October 2016 - 90
NMP - October 2016 - 91
NMP - October 2016 - 92
NMP - October 2016 - 93
NMP - October 2016 - 94
NMP - October 2016 - 95
NMP - October 2016 - 96
NMP - October 2016 - 97
NMP - October 2016 - 98
NMP - October 2016 - 99
NMP - October 2016 - 100
NMP - October 2016 - 101
NMP - October 2016 - 102
NMP - October 2016 - 103
NMP - October 2016 - 104
NMP - October 2016 - Cover3
NMP - October 2016 - Cover4
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201910
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201909
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201908
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201907
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201906
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201905
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201904
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201903
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201902
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201901
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201812
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201811
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201810
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201809
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201808
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201807
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201806
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201805
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201804
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201803
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201802
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201801
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201712
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201711
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201710
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201709
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201708
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201707
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201706
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201705
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201704
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201703
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201702
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201701
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201612
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201611
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201610
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201609
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201608
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201607
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201604
http://www.nxtbookMEDIA.com