NMP - December 2016 - 65


Tom LaMalfa is a 35-plus-year veteran mortgage-market
analyst and researcher. He has done pioneering work in the
areas of secondary markets, wholesale mortgage banking,
mortgage brokerages, financial benchmarking and GSE reform.
He may be reached by e-mail at Tom.LaMalfa@gmail.com.

mortgage company to protect
that investment."
Franco will be joined by a team
including Loan Consultants Ben
Walker, Sadot Negrete and
Maritza Negrete.
New American Funding plans
to provide the Oro Valley
community with the same
industry-leading closing times,
award-winning services, and
high-level customer support that
has become a hallmark at its
other national locations.

Midwest Agency Group. WFG
has also named Sharon
Grannis as state manager for
its retail title operations in
Arizona, and has appointed Al
Willey as its vice president of
Escrow Operations in Arizona.

l The Mortgage Collaborative,
an independent mortgage
lending cooperative, has
announced the appointment of
David G. Kittle, CMB as
president.

l HomeBridge Financial
Services Inc. continues its
expansion in the Northeast
and Mid-Atlantic with the
addition of highly-skilled and
locally-respected mortgage
loan originators in key
locations in Rhode Island,
Maryland and New Jersey.
Associates who have recently
joined HomeBridge include:
Anthony DePietro
(Shrewsbury, N.J.); Iryna
Gilbert (Rockville, Md.); David
Sampson (Warwick, R.I.); and
Peter Scott (Hackensack,
N.J.).
l WFG National Title Insurance
Company has named Stanley
Czaja Esq. as underwriting
counsel for the states of
Illinois and Indiana in its

AVERS

l National Mortgage Insurance
Corporation (National MI), a
subsidiary of NMI Holdings
Inc., has announced that
Michael J. Dirrane, senior
managing director and chief
sales officer of National MI,
has been appointed chairman
of MassHousing, a Bostonbased affordable housing
agency.

MANSHUM

SCOTT

SAMPSON

GILBERT

DIRRANE

DEPIETRO

Mortgage Professionals
to Watch

continued from page 50

KITTLE

heard on the street

l Dart Appraisal has
announced that Nikole Avers,
former executive director of
the Tennessee Real Estate
Appraiser Commission, has
joined the company as a
review appraiser. Dart
Appraisal has also announced
the addition of Tina Manshum
as an account executive
covering the state of Michigan.
l VIP Mortgage has announced
its expansion into the
continued on page 66

65

n National Mortgage Professional Magazine n DECEMBER 2016

eight who thought it chiefly as an
expense. Question 64 wondered if
the respondents wanted Fannie and
Freddie merged, or if they felt the
mortgage market was better served
by multiple guarantors. Multiple
guarantors are the route to go said
18 executives compared to another
10 who said merge them.
With the market share of
independent mortgage banks
climbing sharply in recent years,
Question 65 inquired whether this
upward trend would continue. It will
reported 19 executives, twice the
number who thought IMB share
wouldn't reach or exceed 60 percent
in the next couple of years.
Question 66 inquired: Will the
traditional loan officer model fade
away in coming years? Yes said 17
executives versus 11 who weren't so
sure of a much diminished role for
LOs.
Question 67 wondered if survey
respondents favored ditching the
Common Securitization Platform
(CSP) and replacing it with a Ginnie
Mae platform for conventional loans.
No go, said 24 of 28 executives,
believing the CSP to be the better
alternative.
Question 68 asked if the
Republicans would hold the Senate
following next month's elections. By
nearly 2:1, those surveyed felt the
GOP would maintain a Senate
majority.
Question 69 inquired as to the
executives' firms' total originations in
2016. The mean for the group was
$10.8 billion, with a range of $71
million to $200-plus billion. The last
question, Question 70, wondered
how those surveyed thought their
firms would respond to a sharp (20
percent or greater) contraction in
origination volume in 2017: Would
they cut overhead, merge their
companies, make an acquisition, sell
the firm, or staff up and grow
through the downturn. Seventeen
executives said cut back overhead
expenses, five felt acquisitions
would be the strategy, and seven
said we'll hire and grow the
company through the downturn.
There were no merger strategies or
sellers of firms.
There you have it, a brief
summary of what was learned from
the survey research project at last
week's MBA convention. My thanks
to Tom Millon at CMC for
sponsoring this year's lender survey
of industry issues and topic. TSL
Consulting focuses on survey
research projects that benefit
mortgage finance.

NationalMortgageProfessional.com

As for how bad for the bank, the
group average was a 7.5 of a
maximum of 10. The range was three
to 10. Concerning negative fallout
from the scandal on the industry, 16
said yes, there will be negative
spillover effects, but 11 felt not
inevitable.
Question 55 wondered if the
executives expected a spike in
mortgage rates in 2017. Here, 27 of
29 reported that mortgage rates
were unlikely to jump by more than
50 or 75 basis points next year. Does
the country need a National Housing
Policy director, questioned Question
56? Indeed it does responded 23 of
29 executives. Question 57 asked if
consumers benefited from the
CFPB's new servicing rules. Another
dead heat, with 12 seeing the rules
as a plus for consumers and 12
seeing no real benefit. Question 58
wanted to know if TRID problems
were (still) delaying loan closings.
Sure are said 22 executives,
compared to six who reported no
delays.
Question 59 asked if their firms
were adding IT staff to deal with all
the new systems integrations taking
place. Indeed they are, with only one
of 29 indicating that IT employees
weren't being hired to accommodate
the myriad integrations of systems.
Question 60 wondered if all the new
rules were requiring more time to
clear their firm's warehouse lines.
No, reported 16 executives (who
mostly depend on in-house funding),
but 10 others said yes, more time
was required to clear lines.
Question 61 asked if the recent
ruling in the PHH case would cause
the CFPB to both make clearer rules
and simultaneously end its perceived
policy of "rules by enforcement." All
28 who answered hoped this would
happen, but only 16 responded yes,
while 12 others thought the ruling
would not have much effect on
Director Richard Cordray's CFPB.
Question 62 wondered if the
widespread availability and
understanding of FHA loans was
slowing the adoption and use of the
GSEs' affordable products,
specifically HomeReady and
HomePossible. The response drew a
near tie with 15 reporting the
availability of FHA loans has curbed
use of the 97 percent products, but
14 others saying FHA loans weren't
slowing other affordable housing
products.
Is technology mainly an expense
or an investment, asked Question
63? It's an investment (in the future),
reported 20 of those surveyed versus


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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
NMP - December 2016 - 6
NMP - December 2016 - 7
NMP - December 2016 - 8
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NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
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