NMP - November 2019 - 8

✒

Future of Non-QM
Depends on Strong LO,
Lender Partnerships
By Tom Hutchens

A

NOVEMBER 2019 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

8

s a member of the Forbes Real Estate Council, I
recently wrote about the tremendous future of
non-QM lending and I believe my readers of my
column in National Mortgage Professional
Magazine may benefit from the insights I shared
with the Forbes readers. Having witnessed nonQM's evolution as a safe alternative to sub-prime, I know how
visionary leaders built from scratch this credible and reliable
industry segment.
Approaching 2020, the proven benefits for borrowers, lenders,
investors and originators will grow and the non-QM market will
support the long-term health of the mortgage industry. However,
the continued success of non-QM products requires originators
to choose wisely from among the expanding number of
wholesalers entering the marketplace and the loan products they
have to offer.
Originators need the right partners and the right approaches.
Week after week, new lenders and wholesalers are popping up
to cash in on the non-QM sector's growth. Originators should
not assume that each one of them has the knowledge,
experience and technical resources necessary to assure smooth
and transparent loan processing and customer satisfaction.
Offerings, experience and service vary widely across non-QM
wholesalers and direct investors, so it's critical that originators
choose wisely. Above all else, the best non-QM partner has
commitment to and experience in non-QM lending. We've seen
a flood of new entrants into our industry, and I can say certainly
that some are better positioned than others. Much like any other
activity, mastery of this work is only gained through thousands
of hours of experience. You want a partner that has funded
10,000 loans, not 10.
Originators should evaluate the resources a non-QM
wholesaler has committed to their program. Those resources
may range from a one-person non-QM "team" to a fully staffed
department; some firms only work in the non-QM space. Make
sure your non-QM partner has skin in the game, meaning that
credit and secondary market decisions are made on behalf of
their own capital. Originators should avoid non-QM providers
just looking to cash in on a trend and seek out wholesalers and
direct lenders that have the resources and track record to help
you grow your business.
During the last seven years, I've seen and helped spearhead
non-QM's birth and maturation. I can tell you that seven years
from now, the winners in the mortgage market will be those who
capitalized on non-QM today by picking the right partners and
taking an active approach to seek out suitable borrowers.
To read my full article in Forbes, go to
http://bit.ly/ForbesOct2019. For more information about critical
services and resources, contact your Angel Oak Mortgage
Solutions account executive at (866) 837-6312 or visit
https://AngelOakMS.com/MAP.

Tom Hutchens is executive vice president,
production at Angel Oak Mortgage Solutions, an
Atlanta-based wholesale and correspondent lender
licensed in more than 40 states and operating in the
non-QM space for over five 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.

the

elite
performer
Elite Performer 100:
Motivation Vs. Incentive
BY ANDY W. HARRIS, CRMS

n June 2011, I started writing "The Elite Performer" column which
has been featured in National Mortgage Professional Magazine
monthly for more than eight years. It's hard to believe it's been that
long with this month hitting a milestone of 100 articles. Thank you to
everyone for the feedback over the years and to National Mortgage
Professional Magazine for sharing my content. This month, I thought
I'd go back to the beginning and share the very first Elite Performer article
written. Enjoy!
As a real estate professional, your job duties require hard work if your
intention is to succeed. "Hard" work is defined and interpreted much
differently from one person to the next. Hard work could mean long days
and back-breaking labor, or simply showing up to work on time, day in
and day out, with an agenda to get things done. The physical part of hard
work is easy to distinguish by the position and duties, however the
motivational and psychological side of hard work is much harder to
decipher amongst office and white collar professionals.
I believe most employed in the real estate and finance industries would
agree that our jobs do not require much physical effort. So what is hard
work to us and requirements for success in our industry? The real question
should be: What am I doing each and every day to improve my business
and the experience of my clients? Am I giving all my effort each and every
day to service my clients and get more referrals? For any questions you
have or obstacles you face, stand in a mirror to see the problem and
solution. Is your career in drive, neutral or reverse? If you need to shift
gears, do it now.
When it comes to our profession, some are lazy and some are not. If
you're working by commission or wages based off performance then you
have no excuse to be lazy. You owe it to yourself and your family to give
100 percent every day. If you are not finding yourself giving 100 percent,
you may need to reevaluate your career choice in the real estate industry.
My personal opinion is that hard work is required in any industry, but you
must enjoy what you do. Whatever you do, be the best at it. Perfect it.
Enjoy it. Hard work does not always have to "feel" hard, it's simply a
statement for being active and motivated.
From my years in management, I have found that there are specific
traits that elite performers and high producers share. There are also
specific traits that the mediocre producers or failures share. While external
efforts are made to help all succeed, you simply cannot change one's free
will. In the long haul, people will do what they do. Some things simply
cannot be trained, regardless of how hard you try. There is no temporary
or short-term option for success and you cannot help someone if they truly
don't have the desire to succeed. It's all or nothing to succeed in this
industry, every day. You must understand yourself and how to stay
motivated, along with the difference between motivation and incentives.
While some are confused thinking money is a motivator, it's not. Money
simply creates an exterior incentive to do something. Sure, we all work to
get paid in order to continue covering living expenses and build wealth,

I

continued on page 65
SPONSORED EDITORIAL


http://www.NationalMortgageProfessional.com http://www.bit.ly/ForbesOct2019 https://www.AngelOakMS.com/MAP

NMP - November 2019

Table of Contents for the Digital Edition of NMP - November 2019

Contents
NMP - November 2019 - CT1
NMP - November 2019 - CT2
NMP - November 2019 - Cover1
NMP - November 2019 - Cover2
NMP - November 2019 - 1
NMP - November 2019 - Contents
NMP - November 2019 - 3
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