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Fannie Mae Economists Offer Housing Market Outlook, Potential Timeline for Interest Rate Cuts Scotsman Guide: Seize the Future with the Right Attitude & Tools, featuring TMC Partners: LoanPASS, nCino & SocialCoach Freddie Mac Announces Expansion of $2,500 Homebuyer Credit for Qualified Borrowers Clever Recognized at HW 2024 Tech100 Real Estate Honoree LoanPASS Announces New Partnership to Equip Financial Institutions with Pricing & Valuation Technology Tools Thought Leadership: Fannie Mae Chief Economist, Doug Duncan: Forecast Slow But Steady Recovery in Mortgage Industry Media: (Video) Arch MI: Upgrade Your Business Intel in 2024 with Weekly Data & Analysis (Video) The Rule Tool - Tip of the Week: Qualification Requirement on Financing 3-4 Unit Property Using FHA (Podcast) Lending Leaders with LodeStar: Which Strategies Have the Biggest Impact Blog: SocialCoach: Elevate Your Social Game in 2024 with These 9 Tips for Instagram Total Expert Blog: What is the Total Expert Partner Ecosystem - And Why Will Customers Love It? LodeStar's State-Specific Loan Estimate Biggest Challenge Series: Ohio Events: TMC Connect webinar: 2/15 2pm EST Introduction to Guaranteed Backup Contract with Flyhomes
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2/7/2024 Lenders can use Blue Water's Platform for Retroactive Coverage to Eliminate Buyback LiabilityRead NowWith Repurchase Demands Increasing for 2021-2022 Loans, Lenders can use Blue Water's Platform for Retroactive Coverage to Eliminate Buyback Liability
Wouldn't it be great if Lenders could hit a rewind button on vintage loans dating back up to 3 years and have a peace of mind regarding repurchases on those loans? Well now you can with Blue Water's Retroactive Insured QC on TMC CapTrader, a low cost-effective solution to prevent devastating losses for one or two buybacks. Many loan repurchase requests are due to internal underwriting errors on the part of the lender, and utilizing Blue Water's Retroactive Insured QC will eliminate your underwriting liability for those repurchase demands. Why it Matters: Lenders have the rare option to turn an unlimited, open ended liability into a small manageable one. The Bottom Line: Blue Water's Retroactive Insured QC is the only way a mortgage banker will ever be offered a "rewind button" on the market today. Questions? Contact: Jay Patel - Managing Director, Business Development, jpatel@bluewater-fintech.com | 805.486.8830 Preferred Partner Spotlight: TRUEAI revolutionizes the real estate industry by analyzing market trends, predicting housing demands, optimizing pricing strategies, and empowering professionals to make more informed decisions. And the mortgage market is finally taking notice. National Mortgage News’s recent industry report shows 60% of mortgage organizations already use or will have AI tools in place by the end of 2024. Has your organization implemented AI technology or are you still questioning the benefits it’s promised? We have seen remarkable advancements in technology reshape industries like airlines or retail. Why should mortgage lending be any different? AI has the potential to spark transformative change in this sector, leading to a surge in competitors and an abundance of choices for consumers. For TRUE clients, this future is now. They have adapted business processes, integrating AI and human skills to improve efficiency and business elasticity, while allowing professionals to focus on complex problem-solving and personalized client interactions. On March 6th at 1 p.m. ET, TRUE is offering an exclusive webinar, “Will 2024 be the year of AI powered Mortgage Technology?” featuring TMC’s President and COO, Melissa Langdale and other industry leaders. You’ll learn the evolution of technology within the mortgage sector and start to understand how AI will transform our industry this year. Register today. TMCU Mini Course: How to Effectively Navigate Borrower & Referral Partner ObjectionsSales objections from borrowers and referral partners can come in many shapes and forms. However, if we look closely, most fall into one of five categories.
These objections – while resolute – aren’t deal breakers! Most often they’re simply excuses that prospects use to cover up their uncertainty about you or your company. And so, by removing that uncertainty, you can remove the objection as well. Learn about an effective 5 Step Process for overcoming sales objections in our $100 Mini Course: How to Effectively Navigate Borrower & Referral Partner Objections. Enroll HERE. Top Headlines:
FHFA Releases 2024 Scorecard for Fannie Mae & Freddie Mac PHOENIX Market Snapshot - December 2023 Fannie Mae Updates HomeReady, Providing Temporary $2,500 Credit Condos & HOAs Set to Grow as Fannie & Freddie Add Transparency Freddie Mac Research: Borrowers Paying More Discount Points for Mortgage Rates May Not Be Worth It Thought Leadership: Total Expert Founder & CEO, Joe Welu: Retention is Key to Winning the 2024 Refi Surge Dark Matter Technologies, Boaz Reisman: 4 Considerations for Adopting an AI Mortgage Plaftorm (And Yes, You Should) Fannie Mae SVP, Head of Single-Family Account Management, Tim McCallum: 2024 Expectations Freddie Mac VP, Single-Family Client Engagement, Kevin Kauffman: DPA & Repurchases Personnel Announcements: Dark Matter Technologies Adds Mortgage Tech Vet Tony Fox as Chief of Client Engagement Built Technologies Names Tech Vet Carnell Elliott as SVP of Sales Media: (Video Testimonial) First Commonwealth Bank SVP of Mortgage Retail Sales, Tom Sullivan on His Experience Leveraging The Rule Tool (Video) The Rule Tool - Tip of the Week: FHA Transactions with Collection Accounts Blogs: (Case Study) Mountain West Financial Accelerates Deal Flow & Uncovers More Opportunities with Total Expert SocialCoach: Unlock Your Content Creation Potential with These 6 Generative-AI Prompts for Content Creation MQMR Weekly FAQ: Vendor Management & Cybersecurity Events: (Webinar) Tues 2/13 @ 12PM ET: MGIC presents Freddie Mac DPA One: Overview & Platform Demo Fannie Mae's Mandatory Pre-funding QC is Now Live. Look to Blue Water's Insured QC on TMC CapTrader to Satisfy the Requirements.
Fannie Mae's new QC pre-funding requirements mandate pre-funding QC review monthly by people with no involvement in the processing/underwriting decision of the loan being reviewed for 750 loans or 10% of your previous month production (whichever is lesser). The obstacles for lenders is weighing the operational costs to satisfy the requirements in addition to trying to scale. Your solution? Blue Water Insured QC platform, through TMC CapTrader provides lenders with a pre-funding QC option, which will also be insured like their retroactive QC and post-funding QC. Why it Matters: For Lenders, developing a successful model for operational cash flow and scale while satisfying Fannie Mae's new requirements can be achieved on TMC CapTrader. The Bottom Line: Blue Water's Insured QC can be used for all your loans whether it's pre-funding, post-funding, retroactive, bulk, flow, etc. Questions? Contact: Jay Patel - Managing Director, Business Development, jpatel@bluewater-fintech.com | 805.486.8830 new tmcu mini courseNavigating Change: A Mortgage Professionals Guide to Adaptive Excellence $100/per seat for TMC Members & Partners This NEW course is designed to equip mortgage professionals with the skills and mindset needed to thrive in an ever-changing industry. Participants will learn effective strategies and techniques to adapt to new circumstances, seize opportunities for growth, build personal resilience, and reduce stress. We will provide participants with tools to build their mental and emotional strength and offer practical methods to reframe challenges and cultivate a positive mindset. Get ready to enhance your adaptability and excel in the mortgage industry! Key topics include: 1. How to Successfully Navigate Change 2. The 5 Pillars of Personal Resilience 3. How to Reduce Stress by Changing Your Thinking 4. Strategies for Turning Challenges into Opportunities Click HERE to learn more. Preferred Partner spotlight: ActiveComplyActiveComply is a cloud-based solution that helps highly regulated industries confidently manage their social media compliance, website compliance, and virtual inspections. Financial institutions save time and money, create efficiencies, and manage their compliance virtually all from one unified platform.
Social media compliance has never been easier with SocialShield. Automated social media account discovery and image scanning ensures that you find out-of-compliance accounts and posts before your regulators do. Easily remediate issues with limited sales team involvement. WebCompass keeps your brand and websites in compliance wherever they are. You never have to worry about someone using your brand without your permission or a website that is missing important regulatory information. Virtual inspections and branch inspections just got easier with VirtualVerify – one of the most cost-effective ways to do virtual inspections. Users can issue premade inspection surveys or create custom assessments for remote work locations and branch offices to meet their company’s needs. All of this starts with having a Digital Coach in your corner to unlock value on social media. Leverage Gen-Z Guru and Digital Coach Ally Carty for your organization's digital transformation and social media opportunities to win in today's marketplace. Top Headlines:
Fannie Mae & Freddie Mac Announce Social Bond Initiatives Dark Matter Technologies Empower LOS Workflow Automates Fannie Mae Positive Rent History Evaluation Fannie Mae Optimistic Mortgage Rates Will Below 6% By Year-End Consumer Spending Behind Fannie Mae's Change on Recession Forecasts Media: (Podcast) Lykken on Lending: An Interview with and Tribute to David H. Stevens – A Friend & Iconic Industry Leader (Video) Buying A House as A Single Woman: The Rise of Independent Women Homeowners, feat. Maxwell VP of Acquisition Success, Amy Jo Plummer (Video) The Rule Tool - Tip of the Week - 1.25.24 Personnel Announcements: iEmergent CEO, Laird Nossuli to Present at Seattle's Inaugural Black Homeownership Symposium on January 26th Cenlar FSB Appoints Ingrid Jaschok as SVP of Default Operations Blogs: Arch MI HaMMR Digest 1.22.24: Here Comes the Sun Maxwell: The 2024 Lender Playbook: 4 Tips to Drive Profitability in A Recovering Market Certified Credit: AI's Trailblazing Impact on Mortgage Lending Events: TMC Louisville - The Mane Event, March 24 - 26, Registration Live! MeridianLink Live 2024: April 29 - May 2, Nashville, TN Total Expert Accelerate 2024: June 23 - 27, Minneapolis, MN On TMC CapTrader, powered by Blue Water Financial Technologies, lenders can know within minutes that they have everything necessary for a transaction to be complete and have that information immediately transferred from one entity to another. Not only is Blue Water's SuperTransfer™ entire file review process 95% faster than the industry competitors, it's proprietary OCR and Machine Learning technology produces results that are 99.97% accurate. Here's a testimonial from Ron Simpson, SVP of Capital Markets at AnnieMac Home Mortgage: “The platform is fantastic. From price to commit to upload, transfer, and settlement it couldn’t be smoother or faster. On those rare occasions when I need personal assistance, the Blue Water team is very engaging and responsive. They have been and continue to be an excellent partner.” Why it matters: When selling or buying loans, all interested parties are looking for high levels of efficiencies regarding speed of transfers, reliability, and validation of required information/docs. The Bottom Line: The ability to ingest data in its native format, manipulate and reconfigure into the desired format of the end user is central to the efficiencies created through the platform. If you're interested in learning more, visit the TMC CapTrader page for valuable insights and to watch a video overview of the platform.
New TMCU Mini COurse - leading with empathyWhile change initiatives may be necessary, they’re not easy, and knowing how to effectively navigate them is a vital skill for today’s mortgage leader. Our new TMCU Minicourse, tailored for mortgage industry leaders, addresses the dynamic and complex landscape of today's market. This course imparts critical insights into empathetic leadership, an indispensable skill for steering teams amidst the current flux in the industry. Key topics include: 1. Understanding change management and its organizational impacts 2. Discovering best practices for effective change management 3. Examining various change management models and what works best for your organization 4. Identifying strategies to overcome typical barriers to change Centered on empathy-driven leadership, this course equips mortgage leaders with the skills to manage change more proficiently, while also inspiring and motivating their teams. The outcome is a boost in employee satisfaction and enhanced business performance. Interested in signing up? Reach out to smckenna@mtgcoop.com to learn more!
notes from the networkNew Solutions from Fannie Mae to Simplify Your Lending Process and Gain More Certainty
In December, Fannie Mae released Desktop Underwriter® (DU®) early assessment, a new pre-qualification offering that allows lenders to submit a single bureau soft credit report and receive a conditional DU recommendation to determine homebuyer preparedness and mortgage options earlier in the home buying process. Also, Income Calculator was announced which calculates income for self-employed borrowers and may help increase certainty of loan quality. Discover more about our latest innovations, and policy updates that Fannie Mae has recently introduced to support the housing market. Click to learn more! |
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