NMP - October 2016 - 60

new to market Plan Ahead By Andy W. Harris, CRMS et's face it, this has been a great year to be a mortgage loan originator. Everyone is busy and most days we feel like we're drinking out of a fire hose. The trap, however, is getting caught up in working so much in your business that you're not working on your business. It's easy to get distracted by the here and now tasks, but you have to remember to plan your strategy, systems and marketing for the future and not just for today. In order to capture permanent and lasting market share, you have to be proactive and not just reactive to getting new business at all times. Stockpile and invest when the revenue is strong and only spend conservatively. You also want to equally stockpile and invest your time, even though it may be low on resources presently. I personally get caught up so much in daily work demands that, at times, I can neglect other items or staff training 60 that can certainly have consequences on the future. It's vital we step away to work on our business for long-term success, even if it does not produce immediate results. Working on the business is the only way you're able to work in the business. What are some strategies or ideas you've had during busy times? How have you balanced present demands to work on the business and sustain and grow volume in the future? What challenges have you faced? Please contact me to share your stories for next edition. Are you an originator? Send your stories! To have topics considered in future editions, please e-mail me with "OrigiNation" in the Subject Line at AHarris@VantageMortgageGroup.com. These can be confidential or your name and company can be referenced if you wish. You can also join the Facebook Group by searching for "OrigiNation." OCTOBER 2016 n National Mortgage Professional Magazine n NationalMortgageProfessional.com L Andy W. Harris, CRMS is president and owner of Lake Oswego, Ore.-based Vantage Mortgage Group Inc. and past president of the Oregon Association of Mortgage Professionals. He may be reached by phone at (877) 496-0431, e-mail AHarris@VantageMortgageGroup.com or visit VantageMortgageGroup.com. continued from page 18 fraud, InstantID also increases onboarding volume by authenticating applicants overlooked by traditional credit data, making this product a winwin for revenue growth and improving efficiencies. As clients broaden their acquisition methods using online and remote channels, the necessity of catching fraud and strengthening compliance is paramount. InstantID provides an audit trail on every applicant and is the only verification and validation solution endorsed by the American Bankers Association." ClosingCorp Offering New Packages for Small- to Mid-Sized Lenders ClosingCorp has announced that it now offers a selection of packages for mid- to smallersized lenders. These packages provide reduced rates to lenders that close 200 loans or less each month and are using one of the key loan origination systems (LOSs) integrated with ClosingCorp's closing cost data solutions or Web service. Lenders can choose among four distinct, preset packages of services to help streamline the loan estimate process: l Transfer tax and recording fees (non-guaranteed). l Title, settlement, transfer tax and recording fees (nonguaranteed), with access to ClosingCorp's network of service providers to fulfill quotes and orders. l Additional real estate services that borrowers can shop for (not including AMC or inspection) as well as title, settlement, transfer tax and recording fees (nonguaranteed), with access to ClosingCorp's network of service providers to fulfill quotes and orders. l Full access to all ClosingCorp provider fees (guaranteed), as well as ability to access to ClosingCorp's network of service providers to fulfill quotes and orders. "Lenders are spending increasingly more time and money to comply with the TILARESPA Integrated Disclosure rule (TRID)," said Carol Crawford, SVP of marketing, communications and inside sales at ClosingCorp. "Our new offerings allow us and our integrated partners to provide an 'out-of-the-box' solution at an even more competitive rate to help mid- to smaller-sized lenders remain compliant and profitable." FirstClose Updates Its FirstClose Report First Lenders Data Inc. has announced that it has introduced a change to its Equity Protection Program for lenders using its FirstClose Report. Equity Protection Program is a unique credit risk management solution offered through a partnership with Van Wagenen Financial Services that gives lending institutions the ability to increase loan volume by expanding loan-to-value (LTV) thresholds and underwriting guidelines without increasing exposure to risk. For a fee, lenders can expand LTVs up to 133 percent, increase their loan/line amount up to $250,000, with a debt ratio limit of 43 percent and FICO scores as low as 660 on loans and 680 on Home Equity Lines of Credit (HELOCs) while covering the entire amount of the loan in the event of default. "With Equity Protection Program, lenders can increase their home equity volume by 15 to 25 percent simply by expanding their loan to value and underwriting guidelines," said Timothy R. Smith, chief revenue officer of First Lenders Data. "It's a smart way for lenders to eliminate REO expenses and protect their balance sheet. And, no charge off or costly foreclosures are required." Your turn National Mortgage Professional Magazine invites you to submit any information promoting new "niche" loan programs, new products or any other announcement related to the introduction of a new program, to the attention of: New to Market column Phone #: (516) 409-5555 E-mail: newsroom@nmpmediacorp.com Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue. http://www.VantageMortgageGroup.com

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