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Every year, our TMC Team takes some time to reflect on what we're thankful for. One of the common themes across the board? You, our TMC Family. If it weren't for you, our Preferred Partners and Lender Members, we wouldn't be driven to challenge the status quo, find creative ways to solve age-old problems, and create an environment in which our members can collaborate fearlessly. Thank you, from the bottom of our hearts, for making this organization what it is today.  Ashleigh Alexander, Member Benefits Advocate "Real simple this year. I’m thankful for my growing girls, and my supportive and caring husband. I’m thankful for being able to get out and experience things with them this year and for being able to share our time with our extended family as well! Grateful for our lender members (extension of my family) and for the amazing humans they all are. And for the opportunity to work with some amazing preferred partners who genuinely care about our members!"  Rich Swerbinsky, President & COO "Thankful for my awesome girlfriend Katie, our four crazy teen kids, our dogs Fart and Dog, and the privilege of working for such an incredible company with such an amazing staff I get to work with each day."  Ryan Carr, Member Benefits Advocate “I’m most grateful this year for all of the NEW family additions. From my wonderful TMC Family whom I adore, to my biological family who has been a village in raising me, and now my daughter Sol. When Sol and I were in the hospital recovering from delivery, both families rallied around to make sure both of us remembered we are cherished, and we are loved.”  Tom Gallucci, VP, Business Development "I am thankful for my beautiful better half and my healthy son who makes everyday worthwhile. I’m also immensely thankful for my #tmcfamily, particularly our amazing TMC team who typify what it means to ‘pay it forward’ and work so tirelessly to support our members and partners. And always thankful for our Preferred Partners who do so much to support TMC & our members day-in and day-out!"  Sarah Wood, Member Benefits Advocate "I'm thankful for our 'little cutie' on the way."  Gabriela Mendicino, Marketing & Communications Manager "I am forever thankful for my family, especially my fantastic husband and our beautiful (and hilarious) baby boy. They have always been my reason for everything, and I proudly bear the title of 'luckiest gal' because of them."  Angie Scarfino, Member Benefits Advocate "I'm thankful for these three for always keeping me on my toes!"  Sarah Van Wagnen, Special Projects Coordinator "This year I am thankful for my friends and family for always being there for me, through the hard times and the best times!"  Toni Bramley, Business Development Coordinator “I am so thankful for God’s love, family, good friends, and the wonders of nature that are all around us. Happy Thanksgiving!”  Amy Boor, Education & Events Coordinator "I am thankful for my wonderful family. Our newest addition has given us all a joy that is wonderful to share every day. I love watching these boys grow into kind, principled, empathetic young men."
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“As one of TMC’s earliest members and the long-time Chief Lending Officer for one of America’s larger credit unions, Eric is incredibly well positioned to add a lot of value to our Board of Directors as we continue to add great credit union lender members to the TMC family nationally," said Rich Swerbinsky, COO and President of TMC. We agree that Eric is a fabulous new addition to an already well-rounded board. We asked Eric to answer a few questions about his favorite things and what he's most excited about in his new role on TMC's board. What’s your favorite food? Would have to be Gino’s East pizza, but can only do 1, maybe 2 pieces anymore! Where’s your favorite place to be? On my pickleball court with all my kids and their spouses. What is the best part of your job? Seeing great people be successful. I like to be in the background setting the structure, products, pricing and culture to help them succeed. How did you first become involved with TMC? About 5 – 6 years ago. I’ve known Rich longer and knew TMC would be very successful with him in a key leadership role and it certainly has rapidly become the most practical and valuable association in the mortgage industry. Tell us something about yourself that we don’t know. While in college I worked for a professor and got to spend two summers on Mount Rainier in Washington and in Juneau, Alaska. I’ve actually have a credit on a paper published in The Journal of Glaciology. And I got to climb Mount Rainier for fun! What are you most excited about as a new board member? The opportunity to work with Jim, Rich and all the Board members to bring more credit unions into the TMC family. I have always been appreciative of being associated and learning from the great independent mortgage bankers and community banks that are a part of TMC, and now I get the chance to share that with other credit unions. Top Headlines...
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Congratulations to the 14 TMC members and partners on achieving this prestigious honor!
10/28/2021 Volume, Efficiency Continue To Trickle Slightly Lower As Lenders Brace For What Comes NextRead Now BY RICH SWERBINSKY Off the heels of what what has been a wild period of time for the mortgage industry stimulated by the pandemic, the last four months have been remarkably consistent from a volume and efficiency standpoint for The Mortgage Collaborative's national network of lender member organizations. Closed loan production and operational efficiency have been down about 1/3 from the peaks we saw one year ago and trickling slightly lower. And the month of September looked a lot like the month prior across all areas we track in TMC Benchmark.
Closed loan production continued to stair-step downward with our members closing 2.4% less units in September versus August. New applications taken saw more of a drop off, down 12.8% during the month, as housing supply challenges and slightly higher interest rates challenged the purchase and refinance markets respectively. The purchase/refinance mix stayed identical month over month, with purchases once again accounting for 61% of all closings. Here's the purchase share we've seen in TMC Benchmark the last six months: April 2021: 56% May 2021: 62% June 2021: 65% July 2021: 67% August 2021: 61% September 2021: 61% Operational efficiency figures stayed nearly identical as well in September for the TMC network. The number of closed loan units closed per full-time processor fell slightly to 10.6 in September versus the 10.9 August total. Closed loan units per full-time underwriter dropped by 1 to 32.6 from 33.6 the month prior. Closed loan units per full-time closer increased to 37.0 from 36.1. The average loan originator closed 5.8 units in September, down from 6.0 in August. LO comp came in at an average of 94.5, up 1.3 bps from last month's 93.2 total. Average LO comp has been in the low to mid 90's since spring after averaging in the high 90's all of last year and into the early part of this year. After peaking in the summer, subsiding in the fall, and plummeting in April, and bouncing around this summer ... average annual compensation paid to operational staff stayed nearly identical from August to September. On average, processors in our network were paid an average of $53,700, underwriters came in at $91,400, with closers at $53,000. The average "app date to clear to close date" decreased slightly to 42.3 days in September from 42.5 days in August. Let's take a look at how this number has trended throughout the course of the last year: October 43.4 November 45.3 December 47.4 January 47.9 February 43.1 March 42.8 April 45.7 May 43.8 June 41.8 July 43.2 August 42.5 September 42.3 The average cost per closed loan unit our members paid for their loan origination system came in at $122 in September, down $4 from the month prior. The average cost per closed loan unit for our members point-of-sale (POS) system was $52 in September and $89 for their CRM. 55% of this month's participants in TMC Benchmark were depositories and 45% were IMB's. 42% originate under $500M a year in annual volume, 26% originate between $500M-$1B, and 32% originate over $1 billion per year in annual production. Rich Swerbinsky President & Chief Operating Officer The Mortgage Collaborative  BY RICH SWERBINSKY
 During our recent TMC Reunited conference in California, the TMC's Lender-led Board of Directors met and officially voted in Melissa Langdale, Chief Mortgage Officer at Right By You Mortgage, as a new member.
“Melissa’s been one of our most engaged community bank members and her impressive industry background and fresh perceptive on the industry make her very well-liked and respected amongst her lender member peers,” said Rich Swerbinsky, COO and President of TMC. We couldn't agree more! We asked Melissa to answer a few questions about her favorite things and what she's most excited about in her new role on TMC's board. What’s your favorite food? I’m non-discriminatory when it comes to food…put it in front of me, and I’ll probably eat it. 😊 Where’s your favorite place to be? Anywhere outdoors! Golf course, Beach, Hiking trails all tie for first place. What is the best part of your job? I love setting the strategic vision for our team and working with them to carry out each of their goals throughout the year. And, I love that I’m surrounded by a team that cares about each other and about each customer’s experience. How did you first become involved with TMC? I was referred to TMC by a mentor of mine who loved the idea of the industry collaborating more intentionally. After my first conference, I was hooked. The Collab Labs and sessions were all extremely valuable! What are you most excited about as a new board member? I’m excited about the opportunity to be involved at a different level within the organization and I’m honored to provide a voice within TMC for Community Banks. |
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