America's Homeowner Alliance is bringing their Member Rewards Program & Home Ownership Advocacy platform to The Mortgage Collaborative's Preferred Partner Network!

To register for membership: Click Here!    
Membership Code specifically for TMC Members & Partner Companies: tmc2017

• For additional information on the benefits of membership, and how to add value for our borrowers, past clients and referral partners, contact Rod Luckhart.

Partnership provides network members access to suite of services.

Costa Mesa, Calif. (PRWEB) May 18, 2017

The Mortgage Collaborative, the nation’s only independent mortgage cooperative, serving a membership of 105 lender members, with an aggregate annual origination volume of over $170 billion, and LendingQB, a provider of lean lending loan origination technology solutions, today announced a partnership to provide network members access to LendingQB’s suite of services.

The Mortgage Collaborative selected LendingQB as the exclusive Loan Origination Software (LOS) partner of network due to the technology and operational expertise the company can provide its members. Network members who decide to work with LendingQB will find a 100% web browser-based system that manages the entire mortgage lending process intuitively and efficiently.

“Lenders require technology that can efficiently support their unique business objectives,” said Rich Swerbinsky, EVP, National Sales & Strategic Alliances for The Mortgage Collaborative. “Partnering with LendingQB allows The Collaborative to offer our members a proven and innovative LOS platform that provides the technological backbone for a nimble and efficient mortgage process.”

LendingQB provides mortgage lenders with a holistic model for optimizing business performance by delivering advanced technology coupled with powerful best practices that enable rapid user adoption and software effectiveness. LendingQB’s open API enables robust integrations with more than 200 best-of-breed partner integrations, providing lenders with a flexible solution that can best serve its organizational needs.

“The Mortgage Collaborative’s network brings together lenders and select vendors for the purpose of sharing resources, industry knowledge and expertise,” said Tim Nguyen, President, LendingQB. “We decided to partner with The Mortgage Collaborative because of the values and leadership the organization brings to the industry. Our partnership with The Mortgage Collaborative underscores the commitment we have to delivering meaningful and practical solutions that improve the mortgage lending experience for lenders and their customers. We look forward to building a deep and meaningful relationship with The Mortgage Collaborative and their members.”

About The Mortgage Collaborative
Based in San Diego, CA, The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance and to help its members access the dynamic and changing consumer base in America. The association is managed by its founding members: John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America (MBA).

For more information, visit http://www.mortgagecollaborative.com/.

About LendingQB
LendingQB is a provider of Lean Lending solutions. The Lean Lending solution consists of a 100 percent web browser-based, end-to-end mortgage loan origination system, best of breed integrations with key industry partners and ‘adoptimization' services that result in faster cycle times and lower costs per loan.

For more information, please call 888.285.3912 or visit http://www.lendingqb.com.

SALT LAKE CITY, May 15, 2017 /PRNewswire/ -- SimpleNexus, a leader in bringing the mortgage process to mobile devices, has integrated its mobile lending applications into the LendingQB loan origination system (LOS). By integrating with LendingQB's LOS, SimpleNexus is able to centralize the loan process for loan officers, realtors, and mortgage buyers and bring a streamlined, modern touch to home buying.

Through the SimpleNexus and LendingQB LOS integration, loan officers are able to become mobile in their loan origination and be much more active in facilitating the loan process for mortgage buyers. Loan officers can now track the status of all their borrowers, send pre-approval letters and push notifications directly to borrowers all from the mobile app. They are also able to put the mobile app and its tools in the hands of their realtors, partners, and borrowers.

Expressing excitement for the upcoming integration, SimpleNexus CEO, Matt Hansen said, "LendingQB's commitment to advanced technologies is clear, which positions them to define the future of the mortgage industry.  We're delighted to work with a forward-thinking company who carries an upstanding reputation for delivering value to customers."

"Digital mortgages are making a larger impact within the industry and lenders are beginning to take note," said Tim Nguyen, President, LendingQB. "With SimpleNexus, lenders are better able to connect with borrowers on a mobile platform, extending their reach directly into the borrowers pocket. Through LendingQB's open-architecture application protocol interface (API), SimpleNexus has flexibility to pair its solution with the LOS in a manner that supports a centralized workflow."

With the mobile app in the hands of borrowers, they are enabled to experience a modern, quick, and easy home buying process. From their mobile devices, borrowers can use home search tools, run payment scenarios in a mortgage calculator, apply for loans, securely scan and upload documents, and track the status of their loan.

The announced integration brings all the necessary tools and information into a central location. The mobile app then serves as a converging point for loan officers, realtors, and mortgage buyers. As a result, all the parties involved have instant access to seeing where a loan is in processing and what's needed to move forward. And with in-app communication options and push notifications, everyone can seamlessly communicate throughout the process, adding to a holistic approach that is making the lending process dynamic, intuitive, and transparent.

About SimpleNexus
SimpleNexus, LLC is a leading provider of fully customized mobile solutions that bridge the gap between mortgage loan originators, real estate professionals, and mortgage customers. SimpleNexus is the only mobile technology provider in the industry that has a SOC 2 security audit incorporated into their services, which allows them to provide a mobile scanner, for secure mobile document sharing. Using state-of-the-art mobile technology, SimpleNexus is dedicated to providing its wide array of services to mortgage corporations and branches, as well as individual loan officers. Today, SimpleNexus serves more than 120 enterprise mortgage companies and more than 12,000 loan officers nationwide. To learn more, visit www.simplenexus.com.

• Contact Ben Miller for additional information on SimpleNexus.
  

About LendingQB
LendingQB is a provider of Lean Lending solutions. The Lean Lending solution consists of a 100 percent web browser-based, end-to-end mortgage loan origination system, best of breed integrations with key industry partners and 'Adoptimization' services that result in faster cycle times and lower costs per loan. For more information, please call 888.285.3912 or visit www.lendingqb.com.

• Contact Linn Cook for additional information on LendingQB.
  

NAHREP Consulting Services has the expertise in financial services, banking and lending as well as the cultural understanding to get your message across in a culturally relevant way. All of our translators are certified linguists, using the latest technology to increase speed and efficiency - on time and on budget.

Our translation services include the following types of projects:

• Online: Websites, Social Media Content, Blog Content, etc.
  
• Video: Foreign Language Video Production, Subtitling, and Voice-overs.
  
• Print: Brochures, Flyers, Signage, Marketing Collateral, etc.
  

Projects with a wide range of scopes, including:

• Simple Text Translation (No proofreading, editing, localization or layout)
  
• Translation and Proofreading
  
• Translation, Proofreading and Layout
  
• Translation, Proofreading, Editing and Layout
  
• Post-editing of previously translated text
  

• Contact Maria Zywiciel to see how NAHREP Consulting Services can get you started on your translation project today!
  

May 12, 2017

Fannie Mae STAR Servicer Award

Dovenmuehle is pleased to announce that Fannie Mae has recognized the company with their Servicer Total Achievement and Rewards™ (STAR™) Servicer Award for outstanding servicing performance during the 2016 program year. This award is granted to servicers who achieve operational excellence across a wide variety of key performance metrics under Fannie Mae's STAR Program. This award recognizes the extensive efforts and outstanding performance achieved throughout the Dovenmuehle servicing operation and demonstrates how well Dovenmuehle aligns with Fannie Mae's key performance goals and objectives.

According to Fannie Mae, "The STAR Program supports the industry by establishing a transparent and formal framework to recognize Fannie Mae servicing partners for their competency, capacity and overall performance. The STAR Performer recognition is reserved for those top performing servicers within one or more of three STAR Performer categories: General Servicing, Solution Delivery and Timeline Management. For the 2016 STAR Program year, Dovenmuehle was not rated for Timeline Management based on the low volume of delinquent and defaulted loans being subserviced.

• For more information on Dovenmuehle, contact Dave Allison.

President Donald Trump is reportedly going to tap Brian Montgomery to run the Federal Housing Administration, according to an article in Politico by Lorraine Woellert and Josh Dawsey, which cited industry people with knowledge of the decision.

The article noted that the Trump administration is waiting until he completes requisite background checks to officially nominate Montgomery for the position. 

From the article:
Montgomery, who must be confirmed by the Senate, has raised concerns about the state of the housing market and regulation of mortgages. Nine years after the subprime lending bubble, lawmakers have yet to retool the nation's mortgage infrastructure.

Montgomery has said that "excessive enforcement" on mortgage lenders has prevented many Americans from becoming homeowners and building household wealth.

Montgomery was previously rumored to be in the running for Department of Housing and Urban Development deputy secretary, along with Rick Lazio and Pam Patenaude.

However, Trump ended up selecting Patenaude for the position, where she will serve under HUD Secretary Ben Carson.  

If accepted into the position, it will be Montgomery's second time as FHA commissioner. He previously held the job under Former President George W. Bush, staying on for six months after former President Barack Obama's inauguration, the article noted.

In addition to previously serving in the position, he’s also held a handful of other top positions through the government and housing industry, including:

• Acting HUD secretary until Obama appointee Shaun Donovan was confirmed
• HUD assistant secretary for housing.
• Co-founder and partner at the Collingwood Group, LLC.
• Deputy Assistant to the President and Cabinet Secretary
• Following the Space Shuttle Columbia disaster in 2003, headed up a White House working group to monitor all facets of the accident investigation, and was awarded the NASA Exceptional Service Medal in June 2004.
• Board member on the Federal Housing Finance Board (2005-2008), the Housing and Economic Recovery Act of 2008 Oversight Board (2008-2009), and NeighborWorks America Board, where he also served as Chair of the Corporate Administration Committee (2005-2009).

Article from HousingWire based on original piece from Politico.

Check out LendingQB's ratings in the 2016 STRATMOR LOS Technology Insight Survey

LendingQB has one of the top-rated LOS platforms in the marketplace and their market share is gaining ground as well. A recent survey conducted by The STRATMOR Group, a research and consulting firm that focuses on the financial services industry, asked LOS users about their experience with their systems. For LendingQB, the results were impressive:

• Customer Satisfaction: LendingQB customers gave their LOS a 96% satisfaction rating.
• End-User Experience: LendingQB customers gave their LOS a 93% effectiveness rating.
• Functionality Delivered: LendingQB earned the highest marks for functionality, exceeding the expectations of 22% of their clients.
• Implementation Value: LendingQB clients rated them highest among all LOS vendors for implementation value.

STRATMOR Group is a data-driven mortgage advisory firm that works with lenders of all shapes and sizes to help them make smart strategic decisions, solve complex challenges, streamline operations, improve profitability and accelerate growth. STRATMOR's LOS Technology Insight Survey (TIS) is an annual survey designed to, via lenders' experiences, draw meaningful comparisons between LOS solutions to help lenders better understand what they are buying before they implement. The 2016 survey invited more than 2,000 mortgage executives to participate and 266 vetted survey responses were used to produce the results.

LendingQB is a forward-thinking technology leader that puts innovation first. To learn more about LendingQB, contact Linn Cook.

Posted by Harry Gardner, EVP of eStrategies at Docutech

Lenders spend a lot of time and money selecting the partners and technologies to trust with their origination businesses. The stakes are high. From a compliance standpoint, vendor management is a significant concern. And then finding that a prospective partner who has made it all the way through the due diligence process doesn’t have what it takes to implement effectively can be very frustrating.

It’s easy to find horror stories about implementations gone wrong. Technology is complex, and it can be very challenging to connect disparate systems to achieve a common goal. And yet, that’s exactly what doc prep solution providers are called upon to do every day.

Not so many years ago, our client base included many smaller lenders who were doing fewer than 1,000 loans per month. Due to their size, they often pursued a best-practices-based strategy that focused on streamlined execution and extreme efficiencies. Without high volumes, this is a sound strategy for competing effectively.

For us, it meant that many of our clients were happy with standard functionality and didn’t require anything more than what came with our standard offering. Implementation in those days was pretty straightforward.

Today’s lending environment is different.

Executing in the modern mortgage business
New and evolving compliance requirements, intense competition in an emerging purchase market, and the increasing development of non-QM loans to broaden the lender product menu have all conspired to make implementing software more complicated in today’s market. The lender’s competitive strategy can no longer simply be doing what a competitor does but more quickly. Today, every lender is employing their own secret sauce.

The impact this has had on our business has been significant. Today, we have many clients who are originating more than 1,000 loans per month, but even smaller lenders want customized implementations. We’re called upon to get their new technology up and running quickly without any risk of noncompliance.

Many of our clients today have in house IT teams, which has allowed them to customize other platforms and has made them eager to bend new technology to their will. They absolutely deserve to do just that and our team is called upon to partner with them to accomplish it. Doing that requires the technology provider to spend more time upfront learning about the lender, understanding their unique needs and objectives for their platform.

We no longer pull a product off the shelf, configure it, get it all set up and then walk away. We become long-term IT partners with our lender clients. We’ve built our relationships on an unfailing ability to execute to our partner’s specifications.

The key to execution is to know in exact terms all of the requirements of a successful implementation -- from the lender’s perspective -- before we begin. That requires extensive initial discovery and due diligence. It means knowing what the final workflow will look like and creating customizations that will deliver it. It requires a written plan that takes into account the milestones and timeline schedule risks that are associated with the project and spells out how the solutions provider will clearly manage those risks as they present themselves.

Every lender deserves a doc prep solutions provider who is capable of getting the software implemented exactly right, by deadline.

• For additional information on Docutech, please contact Tony Inskeep.
  

Homeownership education is evolving

June is National Homeownership Month – a great time to focus on how high-quality homeownership education and housing counseling can help expand the pool of mortgage-eligible buyers. Often, homeownership education is viewed by buyers as just another hoop to jump through during an already stressful time. And, for some loan officers, it’s seen as a requirement that can delay a loan closing.

But the need for knowledge is real. When Fannie Mae surveyed consumers, we learned that about half were unable to answer questions about key mortgage qualification criteria. And our recent qualitative study revealed that consumers agree that homeownership education is helpful and they believe it should occur earlier in the process.

So, how can we help bridge the consumer knowledge gap and smooth the process for lenders?

We can start by letting buyers know that homeownership education is evolving to fit their needs and busy lives. There’s no reason for it to be a burden. With online courses, such as the Framework® home-buyer education course, your borrowers can complete the course on their phone, tablet, or computer. Buyers can fit in a bit during their lunch hour, waiting for an appointment, or whenever they have time. The Framework course, available in English and Spanish, meets or exceeds national industry standards and consistently receives high marks from learners.

Beyond the convenience offered by today’s high-quality courses, homeownership education can help borrowers become:

• Prepared. A high-quality course can help borrowers get ready to qualify for a mortgage. From deciding on a budget to lining up the home inspection to collecting the necessary documents, prepared borrowers will be primed to navigate the mortgage process smoothly, saving lenders time and resources.
• Knowledgeable. Homeownership education covers the essential information buyers need to maintain and sustain the investment in their home. Although a buyer can’t control whether the housing market goes up or down, he or she can do regular maintenance and home improvements that may add value.
• Resilient. Homeownership education can help buyers avoid common pitfalls and prepare them to recover when things go wrong during the mortgage process or down the road. The reality is, no matter how good the preparation, circumstances will go south for some borrowers. For the problems that can’t be avoided, education can help borrowers manage the consequences and recover quickly.

Fannie Mae believes that homeownership education is the best way to prepare borrowers to succeed as homeowners in the long term. That’s why our HomeReady® mortgage, our 3% down payment product designed to help lenders serve low- to moderate-income borrowers, requires that at least one buyer on each purchase transaction complete the Framework course (with some exceptions).

And, for those consumers who need customized assistance to become mortgage-ready, housing counseling from a HUD-approved nonprofit counseling agency may be the best pathway to homeownership. Counseling addresses a buyer’s unique financial circumstances and housing issues, and it includes an education component that may be delivered one-on-one or via classroom or self-guided online programs, such as the Framework course. Not only does counseling fulfill the HomeReady homeownership education requirement, Fannie Mae provides lenders with a $500 loan-level price adjustment credit for each HomeReady purchase transaction on which a buyer received assistance from a HUD-approved nonprofit counseling agency before entering into the contract to purchase the home.

So, as we celebrate National Homeownership Month, let’s spread the word that homeownership education and housing counseling are evolving to meet borrower needs and that they support all of our efforts to make homeownership sustainable. Sustainability is good for business – that’s something we can celebrate every month of the year.

Visit our website to learn more about homeownership education and find resources to grow your business with HomeReady.

• Join us for Fannie Mae's live webinar exclusively for TMC Members on Thursday, May 25th @ 2pm ET/11am PT covering Affordable & Rural Lending Products. Click here to sign up!
  
• For more information on Fannie Mae, please contact Beth Millstein or Tammy Trefny.
  

Older generations always seem to think millennials are doing it all wrong, but the truth is, millennials aren't all that different from their grandparents—especially when it comes to buying their first homes.

New research from Zillow confirms that, while younger people are putting off buying homes later than previous generations they still have a sizable impact on the housing market.

Chairman Tim Rood, in an interview with I24 News Clearcut Program.  “While existing home sales are picking up, we’re going to run out of inventory especially in lower-priced home that appeal to millennials.”

Last year, millennials made up 42 percent of home buyers. Along with that, their home preferences are most similar to that of their grandparents. Millennials are choosing homes with shared community amenities, for example, and considering buying townhouses more than the next most recent generations.

The study found that almost 50 percent of millennials live in the suburbs, while 33 percent live in urban areas and the remaining 20 percent are in rural areas. Almost 30 percent of the population in both San Diego, CA and Austin, TX is made up of millennials, while Los Angeles, San Antonio and Columbus, OH have millennial populations of over 25 percent.

But warns Collingwood’s Rood, “Until you find a way to incentivize builders, and take the regulatory morass off their shoulders allowing them to start constructing starter homes, than you are going to run into a buzz saw.”