NMP - April 2017 - 8
Now Is the Time
By Tom Hutchens
APRIL 2017 n National Mortgage Professional Magazine n
hen I talk with peers about the future of
the mortgage industry, I've noticed one
theme is consistently mentioned:
Urgency. The mortgage lending industry
is changing rapidly. Today's rising rate
environment halted the refinance market
that so many lenders have relied on to produce origination
volume. What's worse, agency loan volume won't replace the
hole left by dwindling refinances because competition for Agrade paper will be greater than ever.
If you're a mortgage lender, you must act now or risk losing
volume. Lenders who realize the urgency of the situation must
read, "Now Is The Time," a recent white paper from Angel
Oak Mortgage Solutions.
As "Now Is The Time" explains, the non-QM lending market
is one of the only opportunities for mortgage lenders to grow
their business in the face of declining refinance activity. In
fact, the potential for growth in the non-QM market is huge-
the current size of the annual non-QM lending market is less
than $3 billion but has the potential to reach $100 billion.
Quite simply, the non-QM market offers lenders the best
opportunity to grow their business.
"Now Is The Time" demonstrates how lenders can grow
their business with non-QM products. It shows that closing a
non-QM loan is just as easy as closing an agency loan.
Lenders will also learn how to identify non-QM borrowers and
convert prospects into happy clients.
As the refinance spigot runs dry, fierce competition for topgrade paper becomes greater every single day. But lenders
who have already started developing non-QM referral sources
have a significant head start. Simply put, lenders and loan
officers failing to take steps toward adopting non-QM loans
today are losing revenue to their competition. Don't kick the
can down the road. Instead, take advantage of the new
revenue stream non-QM loans offer to grow your business
before someone else does.
Download your copy of "Now Is The Time" today and learn
how to grow your business with non-QM lending from Angel
Oak Mortgage Solutions at http://SignUp.NMPMag.com/Now.
Tom Hutchens is senior vice president of sales
and marketing at Angel Oak Mortgage Solutions,
an Atlanta-based wholesale/correspondent lender
licensed in more than 35 states and operating in
the non-QM space for over three years. Tom has
been in the real estate lending business for nearly
20 years. He may be reached by phone at (855)
539-4910 or e-mail Info@AngelOakMS.com.
BY ANDY W. HARRIS, CRMS
t's that time of year again when people get glued to the
television, checking their phones, filling out their brackets, and
posting messages about how crazy tonight's game was. Don't
get me wrong, watching and tracking basketball and other
sports is fun and with Oregon in the running this year, I was
involved myself. While I don't personally fill out brackets or
even join fantasy football leagues (although I love football), I can't
help but notice how crazy people get around these brackets and selfcreated fantasy teams. Of course there is nothing wrong with any of
this as long as it doesn't interrupt or negatively impact your
professional career or production.
According to Gray & Christmas Inc., they estimate about 51 million
officer workers join office pools during March Madness. Based on the
country's average hourly wage of $25.35, the outplacement
consultancy firm estimates employers will lose $1.3 billion in pay to
slacking employees per hour of distraction. Between time spent filling
out brackets and watching tournament games live, the total loss of
productivity could approach $4 billion. This might be far-fetched, but
certainly there has to be some negative outcome to businesses for
those that have employees deeply involved or distracted this time of
Imagine if we could have this much fun in business goal-setting
and competition? I believe a fun and competitive work environment
either between inter-office employees or competitors can in fact be
exciting. If we could invest even a fraction of this focus to setting
goal-related brackets, building 'teams,' and closely tracking our
results to win against the opposing team(s) this could certainly spark
motivation in the workplace.
So if you find yourself wasting any time when you should be
working, fill your guilt by investing that much effort into your business
and working harder to meet goals and excel past the competition.
Bring the March Madness to your daily work life all year long and
carry that level of focus and organization in your own bracket that
you've created to have the best team surrounding you. Don't be left
on the sidelines by taking your focus off the prize and keep that
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) 4960431, e-mail AHarris@VantageMortgageGroup.com or visit