NMP - December 2016 - 36


✒

Ending the Fourth Quarter
With a BOOM!

A

DECEMBER 2016 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

36

s we enter the last stretch of 2016, companies
look back at the year's marketing campaigns to
evaluate results and start planning for 2017.
While most companies slow their marketing
efforts as the end of the year approaches, you
can have a competitive edge over your
competition. Choosing to market through the holidays is just
as important to look ahead, it is equally as important not to
lose focus on the present day. That's what makes marketing
through the holidays so interesting.
If you choose to market, understand that your expected
response rates should be less than usual. You should also
expect to close at a much higher rate. People who are
purchasing and refinancing their homes during the holidays
are MOTIVATED. That's why close ratios go up. For each
person who decides not to market during the holidays, there
is another who decides to stick with it. For this reason, results
can vary through the holidays. To overcome this, maintain
consistency. Whatever sort of marketing campaign you do,
keep it going! Failure to maintain consistency is the biggest
holiday campaign killer of them all. You've got to get in front
of those who want to move and entice them to do so with
you.
What's hot? What's going to consistently bring you the
highest volume of calls while keeping the return-oninvestment (ROI) you need to be profitable? A campaign you
can track? One that provides reports that will keep you ahead
of industry trends? Lead management tools that will allow you
to work five to ten times more loans at once? Direct mail
incorporates all of this. This is why it has risen back to the
most frequently used marketing method for today's top
mortgage brokers.
For mail to work effectively, it needs to be dropped
consistently. Companies that only drop mail three to four
times per year (or less) usually see varied results, while those
who drop mail weekly or bi-weekly all year long seem to have
much more consistent, scalable and profitable results. Plan
your growth and marketing efforts accordingly and keep it
consistent throughout the year. Starting and stopping will
decrease the effectiveness of your campaigns. You need
consistent results so you can effectively follow trends in the
market. Just sending out mailers is not doing the trick
anymore. You need to get a hold of your customers in multichannels. Multi-channel marketing is what several marketing
platforms use to interact with potential customers in several
ways within the same marketing campaign. For example:
Direct Mail + Direct Mail Voice + PURL would be a multichannel marketing campaign.

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

nmp news flash

continued from page 24

content, ensuring accuracy with
industry requirements and
writing. The result was a
comprehensive, updated
program that gives member
agencies an advantage when
educating clients on consumer
credit reports and scores.
"Angie is an integral part of
the CIS team and we are thrilled
to see her efforts recognized by
her peers," said Mike Brown,
CIS president and chief
executive officer. "Angie's
outstanding commitment to
service is seen every day as she
leads our East and West Coast
operation centers. Her in-depth
credit and industry knowledge,
as well her expertise on FCRA,
compliance and credit reporting
platforms is unparalleled.
Angie's contributions to NCRA
have benefitted the entire
industry.''
NMLS Renewals Pouring In

The 2017 renewal period for the
Nationwide Multistate Licensing
System (NMLS) is "off to a
strong start," according to the
State Regulatory Registry LLC
(SRR), the Conference of State
Bank Supervisors subsidiary
that owns and operates the
NMLS.
As of Nov. 30, nearly 63
percent of the 581,000 licenses
managed within NMLS were
submitted for renewal and more
than half (230,000) were
approved for 2017. The SRR
said this was an increase from
the approximately 33,500
license approvals during the
same period in 2015. More than
16,000 companies, 24,500
branches, and 189,000
individual licenses received
renewals. The number of
individuals to request renewal is
one percent higher than in
2015.
"Throughout November, the
renewals process has been very
robust, and state regulators
continue to encourage nondepository entities to submit
annual renewal requests as
soon as possible to increase the
likelihood of having licenses
approved by Dec. 31," said Sue
Clark, chairwoman of the NMLS
Policy Committee.

Trade Groups Push Senate
on CFPB Restructuring

A quartet of leading financial
services industry trade groups is
urging U.S. Senate leaders to
pass legislation that would
restructure the Consumer
Financial Protection Bureau
(CFPB) away from its current setup with a powerful director to a
five-person bipartisan board
during the new Congress that will
begin in January.
"The current single director
structure leads to regulatory
uncertainty for consumers,
industry, and the economy," said
the groups said in a letter sent to
Senate Majority Leader Mitch
McConnell (R-KY) and Senate
Minority Leader-Elect Chuck
Schumer (D-NY). "In contrast, a
Senate-confirmed, bipartisan
board or commission will provide
a balanced and deliberative
approach to supervision,
regulation, and enforcement over
financial institutions that is more
in keeping with other financial
regulators."
The trade groups also cited
sense of uncertainty stemming
from an ongoing court case that
has raised legal questions on
whether the current CFPB
leadership structure is
constitutional-the CFPB is
appealing the decision, but there
remains the possibility that
President-Elect Trump could
attempt to remove CFPB Director
Richard Cordray from office
before the appeal decision is
announced.
"The 2016 presidential election
and the recent D.C. Circuit Court
Case, PHH Corp. v. CFPB have
clearly demonstrated a sole
director leadership model is
fragile, uncertain, and leads to
instability at the Bureau," the
trade groups wrote. "In PHH, the
appellate court found the CFPB is
'unconstitutionally structured' due
to the fact the sole director can
be removed only for cause by the
president, stating this is a 'gross
departure from settled historical
practice.' Put simply, the D.C.
Circuit Court held the president
may remove the director at will.
This result makes it even more
apparent what a whipsaw effect
the single director model
presents, inhibiting the ability for
financial institutions to plan for
the future, which, in turn, limits


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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
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NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
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