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Fannie Mae to Accept Lender-Funded Down Payment Assistance Freddie Mac: For 1st Time Since April, Mortgage Rates Dip Below 5% Black Knight: June Sees Record-Setting Slowdown in Home Price Growth PHOENIX June 2022 Market Snapshot Optimal Blue, a division of Black Knight: Weekly Market Update - 8/3/22 Fannie Mae's 2Q Net Income Rises 6% From Q1 Freddie Mac's 2Q Net Income Down 33% From Q1 Personnel Announcements nCino Announces Executive Leadership Appointments Including Ben Miller as new SimpleNexus CEO Blogs Black Knight White Paper: Prepare for What's Next in Originations Verity Global Solutions: Three Tips for Mortgage Lenders to Stabilize Net Margins Check Out the Lender Testimonials from OptiFunder MGIC's 'For Sale to Sold' Workshop to Wow Real Estate Agents Black Knight: 3 Keys to Successfully Applying AI/ML to Servicing Freddie Mac: Approaches to Low-Income Housing Climate Resiliency Vary Media (Podcast) The Lending Buzz: Mortgage Lenders Using Technology to Process Condo Loans Faster Despite Enhanced Guidelines, featuring CondoTek CEO, Asher Kahn (Podcast) Eric Levin is joined by Rich Swerbinsky on The Walk - Ep. 31 Collaboration, Fintech, The Cleveland Browns & The race to differentiate (Video) CMBA's Diversity, Equity & Inclusion Podcast: InstaMortgage CEO, Shashank Shekhar Interviews CBC Mortgage Agency/Chenoa Fund's Tai Christensen (Podcast) Lykken on Lending - 8/1/22 episode Events (Webinar) Aug. 8th 1 pm EST Non-QM Optimizer: Coach and Quality Meet with Verity Global Solutions (Webinar) Aug. 10th 2 pm EST Taking the Mystery Out of eNotes with Snapdocs (Webinar) Aug. 11th 1 pm EST National MI University Presents: Insights from the 2022 State of the Mortgage Industry Half-Time Report
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HousingWire's 2022 Women of Influence program represents a cohort of women using their platforms to support and empower others in the industry while simultaneously improving processes that can provide women with greater access to homeownership. Congratulations to this year’s winners, including five TMC members and 9 partners recognized!
Lender Members: Carey Armstrong, Co-Founder & CRO - Tomo Emily Farley, Chief Lending Officer - Atlantic Bay Mortgage Group Kim Nelson, CEO - Bank South Mortgage Lauren Brandao, Chief Growth Officer - EPM Selene Kellam, Chief Operating Officer - Thrive Mortgage Preferred Partners: Andria Lightfoot, Chief Customer Officer - SimpleNexus Beth Fowler, EVP, Lender Services - Stewart Title Camelia Martin, VP of Industry & Regulatory Affairs - Snapdocs Dionne Wallace Oakley, SVP & Cheif Human Resources Officer - Freddie Mac Emily Shapiro, President - Docutech, a First American Company Kelly Hodges, Chief Operating Officer - Mortgage Coach Lauren Toth, Senior Director, Enterprise Resiliency & Security - Fannie Mae Renee Hunter, General Counsel - Notarize Terin Vivian, VP, Head of Loan Portfolio Management & Structuring - Freddie Mac Top Headlines
Planet Financial Group Defies Market Conditions, Captures Market Share in Q2 Sales Boomerang named Organization of the Year in the 2022 Sales and Marketing Technology Awards Introducing Maxwell Espanol: Loan App Offering a Fully Bilingual Mortgage Experience Xactus Acquires MassiveCert How Fannie Mae, Freddie Mac & Non-QM Digital Data Use Compares Optimal Blue, a division of Black Knight: Weekly Market Update - 7/27/22 Personnel Announcements Freddie Mac Appoints Dennis Hermonstyne Jr. as SVP & Chief Compliance Officer NMP names Dave Savage to list of Most Connected Mortgage Professionals Andria Lightfoot named NMP Most Connected Mortgage Professional (bronze level) Blog MeridianLink Partner Blog Series: How to Manage Challenges by Embracing Innovation, featuring Maxwell's Anthony Ianni Sales Boomerang: 3 Lifelines Mortgage Lenders Need to Stay Afloat in Troubled Seas Dart Appraisal Supporting ACE + PDR for Freddie Mac - Eligible Loans Curinos Perspective: Latest Fed Hikes Come as Rates, Behavior Start to Shift Media (On-Demand Webinar) ActiveComply: Using Social Media to Increase Purchase Business While Staying Compliant (Podcast) Arch MI PolicyCast: FHFA Director Sandra Thompson Shares Housing Aims (Podcast) Lykken on Lending 7/25: The Digital Workflow & Electronic Signature It continues to be a tough year for The Mortgage Collaborative's national network of best-in-class mortgage lending institution members as we head into the summer months. Historically, we've seen closed loan volume swell as the weather warms, but continuing challenges to the supply and affordability side of our industry have served as headwinds.
As we look at June's data, we see pretty flat closed loan volume, new applications off 11% month-over-month, but operational efficiency picking up as lenders right-size their staff. Closed loan units decreased by 4% in June when compared to May. Within that, lenders saw closed purchase loans stay flat in June by 1%, but refinances fell by another 20% month over month to their lowest levels in the six-year history of TMC Benchmark. Refinances fell to an all-time low of 14% of all closings in June. Here's the closed loan refinance share we've seen in TMC Benchmark over the first six months of 2022: January 2022: 39% February 2022: 37% March 2022: 29% April 2022: 24% May 2022: 16% June 2022: 14% The percentage of conventional closings stayed steady in June at 67% (units). Historically, conventional loans have represented 75-76% of all closed loan units these past six years. On the flip side, government loan closings came in at an all-time high (by share) of 23% this month. After falling 3% month-over-month in May, new applications were reduced by another 11% in June. Of note, the product-mix side of new applications was government loans coming in at a TMC Benchmark all-time high of 27% of total new app volume in June. Conventional loans fell to a TMC Benchmark all time low of 65% of new app share. In June, operational efficiency bettered by about 10% across the board. The number of loan units closed per full-time processor increased to 9.01, and loan units per full-time closer swelled from 27.2 in May to 28.2 in June. Closed loan units per full-time underwriter increased to 25.2 from 23.6 in May. The average loan originator closed 4.3 units in June, the exact same number as April and May. Average LO comp came in at an average of 92.2 bps, up 5.5 bps from last month's 86.7 total. Average annual compensation paid to operational staff was very flat month-over-month, with average annual comp paid to FTE processors decreasing slightly to $51,300 this month. Underwriter annual comp remained at $88,000. Average annual comp paid to closers also remained at $53,000. The average "app date to clear to close date" decreased to 39.7 this month as lenders dealt with staff attrition and pipelines of pretty much nothing but purchase transactions. Let's look at how this number trended throughout 2021 and into 2022: January '21 - 47.9 February '21 - 43.1 March '21 - 42.8 April '21 - 45.7 May '21 - 43.8 June '21 - 41.8 July '21 - 43.2 August '21 - 42.5 September '21 - 42.3 October '21 - 42.6 November '21 - 41.0 December '21 - 34.0 January '22 - 40.1 February '22 - 39.6 March '22 - 39.6 April '22 - 39.6 May '22 – 42.3 June '22 – 39.7 The average cost per closed loan unit our members paid for their loan origination system (LOS) rose slightly yet again from $135 to $142. The average cost per closed loan unit for our members' point-of-sale (POS) system fell from $61 to $59 and increased by $1 to $89 for their CRM. In the face of much lower volume and margins, our members continue to increase their non-third-party lender fees. Conventional loans rose from $1,403 to an average of $1,498, and government loan lender fees rose from $1,217 to $1,245. 52% of this month's participants in TMC Benchmark were depositories, and 48% were IMBs. 38% originate under $500M a year in annual volume, 27% originate between $500M-$1B, and 35% originate over $1 billion per year in annual production. Rich Swerbinsky President & COO The Mortgage Collaborative rswerbinsky@mtgcoop.com TMC President Rich Swerbinsky created a LinkedIn post of his ten favorite industry names in 2017, growing into The 50 Greatest Names in Mortgage Lending as the list took on a new life in the years to follow. The list was formalized, expanded to twenty names, and has continued to grow annually since. Inclusion on the list is considered extremely prestigious. And no, payments and/or gifts will not be accepted in exchange for consideration.
Check out this year's 50 greatest names in mortgage lending: The Legends 1. Robert Fightmaster, First State Bank - This is like Cal Ripken’s record, no one is unseating this one. 2. Hakan Wildcat, Sunflower Bank Mortgage - Best part about this name is he’s just some totally average looking middle-aged white dude from Lawrence, KS. 3. Harmony Frimpong, Atlantic Coast Mortgage - I want to skip and frolic while saying this name. 4. Tallman Johnson, The Mortgage Bankers Association - Stands five feet, nine inches tall, which HAS to disappoint his parents. 5. Harry Glanz, Capital Mortgage Funding - Hopefully he states his name after shaking hands in meetings. 6. Shy Tittlebaum, Crescent Mortgage - Crescent Mortgage with FOUR names in the top forty, an interesting recruiting strategy. 7. Pierce Outlaw, Patriot Home Funding - Good name for a lead character in a crappy romance novel. 8. Chuck Chill, Flagstar Bank - I just wanna have a beer with this guy so I can say I chilled with Chuck Chill. 9. Rusty Wiglesworth, Raymond James - An inordinate number of people on this list are in secondary marketing. Draw your own conclusions. 10. Liberty Tribe, Crescent Mortgage - We won’t make people call her Liberty Guardians. Could Double As SuperHero Names 11. Prince Aurora, Aurora Financial 12. Von Ringger, Comerica 13. Richard McCool, Merchants Bank of Indiana 14. Monroe Thrower, GBC Funding Would Be Top Ten Names In Almost Any Other Industry 15. Fobby Naghmi, First Option Mortgage 16. Riley Spear, Simple Nexus 17. Baird Marble, New Rez Correspondent Dynamic Divas 18. Cameo Manci, Wells Fargo 19. Lilit Snoke, Amerihome Mortgage Company - 20. Flisadam Pointer, REMN Wholesale 21. Aimee Clinkenbeard, Trademark Title 22. Ivy Zelman, Zelman & Associates 23. Cola Galvin, Homespire Mortgage 24. Cat Totty, R Bank 25. Shadi Taylor, Huntington Bank 26. Aspasia Chamoun, Bank Fund Staff Federal Credit Union I Want To Have A Beer With These Guys 27. Lou Machos, Landmark Network 28. Rocky Rockwell, First Guaranty Mortgage Corp 29. Rock Planck, Fairway Independent Mortgage 30. Rock Primas, Archwell 31. Bucky Houser, Centennial Mortgage 32. Scott Beer, Hallmark Home Mortgage 33. David Sober, Voxtur 34. Dave Savage, Mortgage Coach 35. Tom Fortune, OVM Financial 36. Blake Boss, Active Comply 37. Harry Holder, Veritas Funding 38. Johnny Margarini, Point Mortgage 39. Freddy Casanova, The Money Source 40. Zeke Wolfgang, Freddie Mac May Need A Legal Name Change To Remain On The List 41. Patrick Lockington - Black Knight/Optimal Blue 42. Scotty Pickle, Celebrity Financial 43. Drais Von Hagen, Crescent Mortgage 44. Dionisia Bejarano Coffman, Chase 45. Carmel York, Optifunder 46. Feliks Viner, First World Mortgage 47. Geri Glixman, First Integrity Mortgage 48. Rusty Creel, Crescent Mortgage 49. Matt Mullet, First Security Bank of Washington 50. Darwin Day, Franklin American Top Headlines
Fannie Mae Predicts Recession Will Begin in Q1 2023 Maxwell 2H 2022 Outlook: Managing Rise Rates, Declining Volume & the Possible Recession Ahead Sales Boomerang releases Q2 2022 Mortgage Market Opportunities Report Fannie Mae's RALI Data, Week of 7/15/22 Optimal Blue, a division of Black Knight: Weekly Market Update - 7/20/22 Fannie Mae 2Q Home Prices Down From Record High Thought Leadership M Report Mortgage Technology Update Part 2 Features TMC Network Thought Leaders, Including: Rich Gagliano - Black Knight, Nathan Bossers - Boston National Title, Asher Kahn - CondoTek & Shelley Leonard - Xactus Arch MI Capital Commentary featuring Kirk Willison: Think Nationally, Act Locally CondoTek President of Project Review, Orest Tomaselli: New GSE Guidelines Challenge Condo/Co-Op Lenders Personnel Announcements Fannie Mae Names Katie Jones New Chief Human Resources Officer Blogs Optimal Blue, a division of Black Knight: Navigating the Impacts of FHA's Proposed 2% Liquidity Requirement MQMR White Paper: Fantastic 4 Ways That Internal Audit Powers Cost Savings Media (Video) CEO Bryan Young Explains to NBC News Now How Home Lending Pal Looks to Create Equality in the Mortgage Application Process (Video) Black Knight VP, Andy Walden Talks Home Prices & Inventory on CNBC's The Exchange (Video) Total Expert CEO, Joe Welu Interviews American Pacific Mortgage CMO & CSO, Melissa Wright: Being Comfortable in the Uncomfortable (Video) Black Knight VP, Andy Walden Shares Housing Market Insights on CNBC's Fast Money Events (Webinar) - 07/27 3 pm EST "Introducing the TMC Healthcare Cooperative" (Webinar) One lucky attendee will win a $100 Amazon GC! 7/26 - 2 pm EST MeridianLink Marketplace: Tapping Into Your Mortgage Lending Potential with Flexible Partner Integrations (Webinar) - 08/10 1 pm EST "Life Moves Fast, Don’t Miss It." with Sales Boomerang (Webinar) - 8/11 1 pm EST National MI University presents: Insights from the 2022 State of the Mortgage Industry Half-Time Report, featuring Kristin Messerli & Dave Savage Top Workplaces has released its 2022 Best Companies to Work For list which awarded several TMC lender members and preferred partners! We are honored to recognize the following companies in the power of the network!
Top Workplaces 2022 with 150 – 499 employees Lender Members 18. Liberty Home Mortgage Corporation 19. Apex Home Loans 24. GVC Mortgage, Inc. 33. Delmar Mortgage Top Workplaces 2022 with 500-999 employees Lender Members 8. Nationwide Mortgage Bankers, Inc. 16. GreenState Credit Union 20. AnnieMac Home Mortgage 43. HOMESTAR Preferred Partners 29. First American Equipment Finance (Docutech parent company) Top Workplaces 2022 with 1000 to 2499 employees Lender Members 3. Union Home Mortgage Corp. 13. Planet Home Lending 28. FBC Mortgage, LLC Top Workplaces 2022 with 2,500+ employees Lender Members 2. PrimeLending, a PlainsCapital Company 6. PRMG 7. Fidelity Investments 9. New American Funding Additional Lender Members Associated Bank First National Bank Additional Preferred Partners 15. Fannie Mae Top Headlines
Mortgage Coach | Sales Boomerang | Experience.com present: 2022 State of the Mortgage Industry Half-Time Report Optimal Blue, a Black Knight company: Weekly Market Update - 7/13/22 Thought Leadership Vice Capital Market's Chris Bennett: Rate Lock Negotiations Offer a Short-Term Response with Long-Term Consequences NEXT: Boosting Tech Adoption for MLOs, Insights from Top Execs, including TMC Partners with Capacity, Clever, FinLocker, Mortgage Coach, Sales Boomerang, SimpleNexus & Take3Tech Blogs FinLocker: The Mortgage Lenders Guide to Supporting Divorcing Customers Certified Credit: How Tech is Revolutionizing the Mortgage Industry Model Match: Increase Your Purchase Business - Why Mortgage Businesses Should Prioritize Recruiting SureFire, a Black Knight company: New eBook - Surviving Rising Rates: Tactics to Stay Relevant SimpleNexus White Paper - Destined for Digital: How Global Tech Trends Are Shaping the Future of Mortgage MQMR Weekly FAQ: Internal Audit & HDMA Optimal Blue, a division of Black Knight: Lock & Shop Strategies in Volatile Markets Events Webinar: 7/21 @ 12PM ET Sales Boomerang | Mortgage Coach present: Ask the Experts: Strategies for keeping cool in a red-hot rate environment, featuring Rob Chrisman, Mike Franantoni & Owen Lee TMC Connect Webinar: 7/21 @ 4PM ET iEmergent presents: Leveraging Data to Design & Execute a Successful SPCP Top Headlines
Black Knight: Signs of Home Price Cooling as Inventory Levels Improve Sales Boomerang and Mortgage Coach Merge, appoint Richard Harris as CEO Maxwell New eBook: 1H 2022 Millennial & Gen Z Borrower Sentiment Report Snapdocs & STRATMOR Collaborate to Advance Borrower Experience Research Black Knight: Home Affordability Hits 35-Year Low Optimal Blue, a division of Black Knight Weekly Market Update - 7/6/22 PHOENIX - May 2022 Market Snapshot Thought Leadership Arch MI's Capital Commentary, featuring Kirk Willison: Erasing Housing's Inequities Black Knight's Sean Dugan: How Configurability & API's Can Help Lenders Sow the Seeds for Success MGIC's Shelley Sines: How Homeownership Fosters Community LO Hub, powered by MGIC: First Community Mortgage's Miguel Vega - Increase Your Lending Impact by Assisting a New Generation of Homebuyers Black Knight's Craig Rebmann: Mapping Your Digital Loan Journey Personnel Announcements iEmergent appoints Megan Horn as Chief Marketing Officer HousingWire identifies Sales Boomerang's Richard Grieser as a Marketing Leader Blogs Optimal Blue, a division of Black Knight: Success with TBA Trading: Managing Counterparties, Executing Efficiently & Avoiding Pitfalls SimpleNexus: In a Shifting Market, Seamless Digital Solutions are the Answer MQMR Weekly FAQ: California Fair Appraisal Act Xactus Rolls Out Active Listing Data Media (Podcast) The Principal from NMP: Planet Home Lending's Caleb Mittelstet - Where Will Interest Rates Land? (Podcast) Lykken on Lending 6/27/22: featuring Shane Westra & Jay Arneja with SimpleNexus (Video) Vice Capital Markets' Chris Bennett: Nightmare on Wall Street, Part 3 - The Reset NMP Podcast: Gated Communities - Modern Day Redlining featuring CBC Mortgage Agency's Tai Christensen Events (Webinar) 7/21 @ 12 pm ET: Sales Boomerang presents Ask the Experts: Strategies for Keeping Cool in a Red-Hot Rate Environment, featuring Rob Chrisman, Mike Fratantoni & Owen Lee Connecting with clients and consumers has never been an easy task, and today’s market is no exception. On the heels of the global COVID-19 pandemic that keeps rearing its head, the housing economy is now faced with rising rates and dismal inventory. Tasked with an endless list of functions, this year’s 2022 Marketing Leaders did it all despite industry turmoil. Phoning it in was not an option for this list of leaders who are constantly coming up with bold ideas that push their teams to think big and drive their organizations forward in housing.
This year’s list includes 50 examples of marketing leaders who have used their creativity, agility and leadership skills to continuously grow and strengthen their brands. TMC is proud to recognize our six lender member and three preferred partner recipients! Congrats to all the winners! Lender Members Cheryl Hayes – PrimeLending James Duncan – Thrive Mortgage Katherine Campbell – Assurance Financial Melissa Wright – American Pacific Mortgage Stephanie McCarty – Taylor Morrison Home Funding Jessica Swink – Atlantic Bay Mortgage Group Preferred Partners Alan Parris – Maxwell Steve James – Fannie Mae Richard Geiser – Sales Boomerang |
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