NMP - December 2016 - 21
N A M B
P E R S P E C T I V E
do business in your state and have set up the articles of organization
as required by your state.
There is a simple online application where you can input the basic
information and upload the required documents. There is a start-up
guide to help lead you through the process, as well as a course that
will assist you in the writing of a business plan if necessary. NAMB
will be adding materials to this area as we determine needs.
Calyx has agreed to be our first sponsor of the program and we
appreciate their support, as well as the other industry partners that
are in progress towards becoming sponsors.
If you have been thinking about opening your own business go to
NAMB KickStart.com and get some help. If you need some financial
assistance, that is there also. Join NAMB and our first Grant Partner,
United Wholesale Mortgage (UWM), in growing small business and
the third-party origination channel.
Rocke Andrews, CMC, CRMS is immediate past
president of NAMB-The Association of Mortgage
Professionals. He may be reached by e-mail at
Choosing How to
Communicate By Nathan S. Pierce, CRMS
5. E-mail prolongs decisions and debate. I have often experienced
the decision making process become far too complicated because
of back-and-forth e-mail, intentions and interests become
misunderstood easily online.
E-mail and text are two of the greatest productivity contributors of
the past two decades. Yet we have to recognize that these digital
channels have limitations and should not be used to replace live
conversation. The next time you find yourself needing to discuss and
important issue, ask yourself if it is something that would be better
served by a real conversation or would electronic communication be
Nathan S. Pierce, CRMS is the NAMB Communication
chairman, a member of the NAMB board of directors,
and NAMB+ President. He is a Certified Residential
Mortgage Specialist and president of Advanced Funding
Home Mortgage Loans in Salt Lake City, Utah. He may
be reached by phone at (801) 272-0600 or e-mail
The D.C. Forecast Headed
Into a New Administration
By Michelle Velez, CMC
2. Getting caught up in back-and-forth e-mails or texts can be
unproductive and time consuming. We have all been caught up in
email or text chains that should have been resolved after one or
two rounds, but continue. If you find yourself caught in an
endless string of emails or texts pick up the telephone and make
3. It's hard to communicate emotion in e-mail. The biggest
drawback and danger with email is that the tone and context are
easy to misread. In a live conversation, how one says something
is as important as what they are saying. With e-mail, it is hard to
get the feelings behind the words.
4. E-mail and text often promote reactive responses. While reactive
responses occur in live discourse, they are usually more
productive. E-mail and text are often used as digital shields to
respond in ways that would not be used in live conversation.
n National Mortgage Professional Magazine n DECEMBER 2016
1. How does your client prefer to communicate? Don't assume that
everyone prefers receiving a text or email. Oftentimes, the
preferred method is obvious and other times it is not, if it is not
obvious take a moment to ask what the preferred method of
Whether you are happy about the outcome of the Presidential
election or not, there are many changes in Washington, D.C.
However, if you are a glass half-full kind of person, then there are
several positive things to focus on under the new administration.
Let's talk about some areas of importance to mortgage originators
and specially mortgage brokers.
The White House and Treasury Secretary set the tone and agenda
of what is important to our industry. This will come as a hard fight for
President elect Donald Trump's selectee, Steve Mnuchin to get past
Sen. Liz Warren in the confirmation process.
NAMB is looking for good things to come from Ben Carson, who
was chosen to be new Secretary of the Department of Housing &
Urban Development (HUD). This appears to be a positive move in a
continued forward direction for the coming year.
If you reflect back on the election, we see benefits for small
community banks, regional lenders and mortgage broker companies
alike. These financial distribution channels are closest to those voters
that switched parties and voted for President-Elect Trump. The new
administration will keep focus on what changes actually do benefit
these voters. A good portion of mortgage brokers operate where
brick and mortar lenders do not. It is more efficient to use
independent mortgage originators in these areas.
There has been a lot of chatter about the possibility of dismantling
the Dodd-Frank Wall Street Reform and Consumer Protection Act.
However, while our industry has been reeling from all the regulations
that have been implemented, NAMB feels we should be able to enact
positive change but we have no plans at this time to dismantle the
law. Some of those changes that we would like to see would be the
passing of HR 3393. This bill will remove the broker shop
compensation from the three percent points and fees cap in a
Qualified Mortgage (QM). This was also our focus under the last
White House Administration.
The changes NAMB will focus on are the parts of the Dodd-Frank
Act that has hampered lending and increased the costs to operate
and will have a serious cost benefit analysis applied to them. The
impact to bank capital and Wall Street will also be pulled back as
Former SEC Commissioner Paul Atkins was named the head of the
transition team to decide what the new Director of the Consumer
Finance Protection Bureau (CFPB) will need to focus on. He will
In an age where communicating has become increasingly electronic
it is not uncommon to hear stories of people being misunderstood or
being unable to make themselves be understood. Understanding can
be difficult when engaging face-to-face and can become even more
complicated when using e-mail, text messaging, or various other
digital platforms. In a mortgage transaction, the first step to
simplifying the loan process is to understand the needs and
expectations of the borrower(s) and for them to understand the
process that is about to take place. The more that people
understand each other, the more likely it is everyone will have a
pleasant mortgage experience.
The use of electronic communications can be a very useful tool in
improving the mortgage loan experience. It is one that I use
frequently, however, I am also guilty of using it when a phone call
would have been more appropriate or in situations where the person
being communicated to prefers a live call. When choosing a method
of communication it is important to always remember certain things: