NMP - February 2018 - 14

FLASH y FEBRUARY 2018 y NMP NEWSFLASH y FEBRUARY 2018 y NMP NEWSFLASH y FEBRUAR

FEBRUARY 2018 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

14

TMS Gives Back to Local
Communities Via Grow
Happiness Campaign
The Money
Source Inc.
has
announced
the launch
of its company-wide initiative to
grow happiness, encouraging
employees to give back to their
local communities. Following the
company's massive brand
announcement that challenged
the industry norm and ignited its
mission to "Grow Happiness,"
TMS dedicated time and
resources for employees to hit
the streets and put the words into
action.
The initiative spurred
employees to be true
ambassadors of happiness,
providing everyone with $20 to be
as creative and resourceful as
they wanted to be in giving back
to the community.
"In honor of our 20th
anniversary, we wanted to
continue to ride the energy
behind our new branding and
give our employees $20 to give
back to local communities," said
TMS Chief Executive Officer
Darius Mirshahzadeh.
Whether it was surprising
someone by purchasing their
groceries, buying a sleeping bag
for a homeless person, passing
out water at a community park, or
bringing a care package to a
nearby hospital, TMS wanted to
show that its dedication to
growing happiness goes beyond
the homebuying process.
"Our dedication to spreading
happiness doesn't end at the
closing table for us; It's in our

DNA. We are taking a stand in
this industry to show we are
more than just a mortgage
company," said Mirshahzadeh.
"And, this just the beginning for
us. We can't wait to see what the
next 20 years hold for TMS."
By providing its more than 600
employees with $20 each, TMS
was able to give up to $12,000
back to its local communities,
contributing to the company's
overall goal to help one million
happy homeowners and help
people achieve their pursuit of
happiness. Employees reached
nearly 300 different communities,
capturing videos and photos of
the entire experience that will live
on a designated landing page on
the company's Web site,
TheMoneySource.com.
ARMCO Reports:
Critical Loan Defect Rates
Increase for Third
Consecutive Quarter

ACES Risk Management
(ARMCO) has announced the
release of its Mortgage QC
Trends Report for the second
quarter of 2017, reporting on loan
quality findings for mortgages
reviewed by ACES Audit
Technology between April 1,
2017 and June 30, 2017.
The critical defect rate
increased for the third
consecutive quarter, reaching
1.76 percent in Q2 2017, an

increase of nine percent over the
Q1 2017 critical defect rate of
1.61 percent. The top critical
defect category for Q2 2017 was
Borrower and Mortgage
Eligibility. Purchase loans
account for a disproportionately
high number of critical defects.
"We're seeing a continuation
of critical defect activity that
aligns with what we'd expect in a
purchase-driven market," said
Phil McCall, President of
ARMCO. "If they haven't already
done so, lenders should consider
how they'll address these
specific loan quality issues if
purchases continue to dominate
the market."
The ARMCO Mortgage QC
Industry Trends Report is based
on nationwide post-closing
quality control loan data from
over 90,000 loans selected for
random full-file reviews, as was
captured by the company's
ACES Analytics benchmarking
software. Defects listed in the
report are categorized using the
Fannie Mae loan defect
taxonomy.
"Investors are tracking these
trends as well, and could make
adjustments to protect
themselves from what they see
as potentially damaging market
trends-lenders need to be
aware of that," said McCall.
"Adjusting QC efforts in the short
term can help lenders react to
guideline changes with ease and
fluidity. We provide the ARMCO
QC Trends Report free of charge

so all lenders have the chance to
adapt and elevate loan quality,
and ultimately elevate overall
loan quality for the entire
industry."
McLean Mortgage Awards
Nine Eagle Scouts
Scholarships

McLean Mortgage Corporation
has underwritten nine college
scholarships on behalf of the
Scholarships For Eagles
Program, a local 501(c)3 nonprofit providing college
scholarships for Northern Virginia
High School Seniors who have
earned their Eagle Scout Award.
McLean Mortgage recently
hosted a reception for the nine
Eagle Scouts and their families.
Of particular note, the Cantos
Brothers have become the first
blind triplets in the 107-year
history of the Boy Scouts to
achieve the rank of Eagle Scout.
A Washingtonian Magazine article
written by Sherri Dalphonse
pointed out that these brothers
"did it by earning merit badges
that might seem almost
impossible to achieve as a blind
person-for such skills as
whitewater rafting, archery and
wilderness survival (after they
each built a shelter in the woods
and spent the night in it)."
"We are grateful that McLean
Mortgage has taken such an
active role in this very important
program over the past two


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Table of Contents for the Digital Edition of NMP - February 2018

Contents
NMP - February 2018 - Cover1
NMP - February 2018 - Cover2
NMP - February 2018 - 1
NMP - February 2018 - Contents
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