NMP - December 2016 - 33
a report of findings The highest score was an 8.5 for conventional servicing, but was a 10 for Ginnie MSRs. Question 19 wanted to know if the GSEs' exception from the 43 percent DTI cap in the QRM rule put their firm at a competitive disadvantage vis-à-vis Fannie and Freddie. Only two of the executives, both portfolio lenders, felt they were disadvantaged by the exemption. Freddie's Loan Quality Advisor Suite was the subject of Question 20. On the 10-point scale, the group assessed the Freddie suite as a 6.5. The response range was from one through nine. Questions 21 and 23 asked if their firms were respectively selling more or fewer loans to Freddie and Fannie. Fifteen executives reported selling more to Freddie year-overyear, five fewer and four reported no change. For Fannie Mae, 17 executives indicated more sales, nine fewer and three unchanged sales. Question 22 asked who was providing a better service level and price, and the collected responses couldn't have been closer: 13 said Fannie, while 12 said Freddie. Question 24 wanted to know if Fannie Mae's Collateral Underwriter was working well at their firms. Yes, said 19 executives versus two that said no. The remaining eight said they weren't sure and deferred an answer. Question 25 wondered if the GSEs' new loan dispute appeals process was viewed positively. Yes, responded 17 compared to three who weren't pleased. Another nine indicated uncertainty and passed on offering a response. Question 26 inquired whether the constraints to extending more continued on page 64 33 NationalMortgageProfessional.com The Same as Being There in Person: Complete Interactive Sales & Marketing Training Delivered Live Anywhere Your Sales People Are Your sales team will learn and master: l How to Target the Right Referral Partner Relationships l Deliver the Ultimate Agent Presentation l Easily Overcome the Fear of Rejection or Objections l Increase Your Productivity and Effectiveness in the Field l Win the Business Over Your Competition l And so much more... Contact Ron Vaimberg, nmpU Executive Director & Head Coach directly at 888-979-6678 Ext. 801 or email at RonV@NMPMediaCorp.com for more information and pricing. n National Mortgage Professional Magazine n DECEMBER 2016 for the group as a whole. FHA volume for the year was reported up at 12 firms, down at eight and unchanged at nine others. Question 6 asked about the percentage of their firm's conventional business that was over 80 percent LTV. The average was 32.7 percent amid a five to 70 percent range. Question 7 asked about their call center, consumer direct business. The group average was 10.8 percent with a range of zero to 100 percent. Eight of the 29 firms surveyed operate call centers, which account for at least 10 percent of their business. Questions 8 to 10 wanted to know respectively if they were originating more high LTVs, high DTIs and low FICO this year than last. Of the 29 firms, 12 were doing more high LTVs, six less and 11 the same amount; seven were writing more high DTIs, nine fewer and 13 unchanged; nine were originating more low FICOs, 11 fewer and nine reported no change year over year. Question 11 asked if there was a recent wave of cash out refis occurring. They are back in a big way said 11 executives, while 17 others reported no acceleration in cash outs. Question 12 wanted to know about their firms' profits. Higher said 23 compared to five who reported essentially the same profit level or lower in 2015. Are you adding employees, asked Question 13? Twenty-five firms are adding compared to only two that have not added or cut back employment levels. Question 14 inquired about any shortage of appraisers. Here 26 of 29 said there was a shortage in at least one of the markets their firm served. Many added that the appraiser shortage is nationwide. Questions 15 and 16 dealt with the firms' MSR posture this year and their attitude toward originating FHA loans. Nineteen of the 29 are retaining servicing, 14 are sellers, and six others are buying bulk. As for FHA lending, 15 executives were less upbeat about originating FHA loans, while nine were more upbeat. Questions 17 and 18 wondered if the executives were concerned about the liquidity and value of conventional servicing and of Ginnie Mae servicing. To answer, I asked each executive to respond on a one through 10 scale, with the higher number being very, very concerned. Conventional servicing scored a 5.3 on the 10 point scale, while FHA/VA/Rural servicing scored 7.6. continued from page 31
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