NMP - December 2016 - 106


new to market

Preparing for 2017
By Andy W. Harris, CRMS

Many of us just experienced the most successful year of our career in
2016. Not only were new homebuyers active, but interest rates were at
some of the lowest levels in history following Brexit mid-year, and local
market share opportunities were favorable. The only time Freddie Mac
recorded lower mortgage rates in recent history was near the end of 2012
which many of us remember. As we know, the day following the
Presidential Election, the markets reacted with a bond selloff that seems
to have resumed for many days increasing interest rates considerably.
While refinance booms are unstable and certainly not normal every
year, it's wise to take advantage while the window is open and
conservatively budget as if a traditional year. With interest rates up, plan
to be proactive for 2017 versus simply being reactive as many of us were
due to the demands of 2016. Don't get caught up in a low rate
environment mentality. Expect to put in a different kind of effort in 2017
and sharpen your sales and education ability to focus on market share
and your brand. Opportunities will be there for those with a business and
marketing plan, and your volume and revenue can grow each year despite
if rates are higher or not.
The year 2017 already has some exciting news and things to look
forward to:
l More automation to streamline the process with automated income
and asset calculation, less paperwork, etc.
l Eliminating the requirement for 4506-T processing and tax transcripts.
l The Federal Housing Finance Agency (FHFA) just announced new
higher conforming loan limits for 2017 on loans backed by Fannie Mae
and Freddie Mac.
l More Property Inspection Waivers (PIWs) are expected from the
agencies. Fannie Mae even announced that they are waiving the $75
fee also effective Jan. 1, 2017.
l Originator independence growing and new opportunities in wholesale
lending, including NAMB's new KickStart Program.
l New innovative technology entering the mortgage space to grow your
business.
This list seems to grow almost daily near the tail-end of 2016 and it will
only get better. The more we streamline and simplify the process, the
more volume staff can handle. The consumer (your clients) will also have a
better experience. You will definitely need to have an organized system
moving forward with controlled overhead and competitive pricing.
Excellent service and execution is a requirement, but pricing and
overhead must be monitored by every originator. This means even
watching what your company is doing or not doing if you are currently
working for a company versus being independent.
Technology and consumer demands will continue to shape the future
of our industry. Embrace the changes and don't deny them. You'll be
happy that you did.
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."
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 25

and feedback based on current
agency rules and best
practices.
"IncomeGenius establishes a
new standard for lending
efficiency," said Rajan Nair,
CEO of Financial Services,
Indecomm Global Services. "It
offers an enhanced level of
digitized income analysis,
especially for self-employed
borrower loans. It generates
consistent and accurate results
in a standardized and
compliant fashion, allowing the
user to immediately identify the
probability of a successful loan
application."
IncomeGenius generates a
comprehensive analysis of selfemployed income applications
and is robust in identifying risks
to the loan. IncomeGenius is
integrated with selfemployment training through
Indecomm-Mortgage U.
Together, they represent a total
self-employed borrower income
calculation solution.
IncomeGenius is available as a
SaaS solution.
OpenClose Releases
Enhanced ConsumerAssist
Solution
OpenClose
has
announced
that it has
redesigned
and added
new features to its borrowerfacing ConsumerAssist
solution. The enhancements to
ConsumerAssist create a highly
attractive, straightforward and
interactive experience for
consumers. ConsumerAssist
can be accessed via the Web
or any mobile device, providing
portability and accessibility at
any time and from anywhere,
resulting in an increase in leads
and a decrease in production
costs.
As a borrower completes an
application from any device,
alerts are triggered in real-time
that are sent to the lender for
quick follow up by a loan
officer or customer service
representative. Lenders can
then immediately engage the
borrower, quickly answer
questions and start the sales
process. This significantly
improves lead capture and
conversion rates, resulting in
more closed loans and greater
profits. The features of
ConsumerAssist can be
customized to a lender's

unique specifications along
with branding for both branch
and loan officer Web pages,
as well as mobile applications
to create a more personalized
experience.
"In today's competitive
mortgage marketplace,
customers are seeking new
ways to attract borrowers and
to do more with less while
maintaining high service
levels," said Jason Regalbuto,
CEO and CTO of OpenClose.
"ConsumerAssist is ideal for
lenders looking to add a high
impact Web and mobile
presence that provides an
outstanding consumer
experience. The solution
allows visitors to start the
lending process themselves
without having to first speak
to a loan officer. At the end of
the day, ConsumerAssist is
about increasing leads and
decreasing origination costs
for lenders."
Lenders also have the
flexibility to offer on-demand
program eligibility and pricing
for borrowers by leveraging
OpenClose's DecisionAssist
product and pricing engine
(PPE), which instantly returns
decisioning at the point-ofsale. OpenClose's team of
mortgage specialists maintain
an extensive library of up-todate investor programs,
guidelines and pricing for its
customers.
ConsumerAssist can easily
be added to a lender's
existing website and is
integrated with OpenClose's
LOS, LenderAssist. It also has
the capability to integrate with
customer relationship
management (CRM) software
and other third-party
applications.
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 email are preferred. The
deadline for submissions is the
1st of the month prior to the


http://www.VantageMortgageGroup.com

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

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
NMP - December 2016 - 3
NMP - December 2016 - 4
NMP - December 2016 - 5
NMP - December 2016 - 6
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NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
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