|
If you're reading this, we'd like to say thank you. Year after year we've been amazed at just how wonderful our TMC Family truly is. Though this past year has been challenging, our members and partners have stepped up to the plate and have truly made the most with what we have, bringing the Power of the Network to more of our membership than ever before. Needless to say, we never would have made it this far without the combined efforts of each and every one of you. We asked everyone on our team to share what they're thankful for this holiday season, and we would love to hear from you as well. We hope that you had a safe and happy holiday!
0 Comments
 I registered for the event - now what?
Once you send us your registration information, you should receive an email with instructions on how to access your event account using the same email that you registered with. If you have not received that email, contact Amy at aboor@mtgcoop.com or your Member Benefits Advocate. What's the difference between the mobile and desktop 'app'?
The web 'app' is just the website. The mobile 'app' is like any other app you download on your phone, which you can learn how to do here. On the mobile app it is easier to find talks, add items to your agenda, networking via the community boards, watch videos or webinars, and receive communication from organizers and attendees. Your phone camera and microphone will work via the mobile app for zoom communication. The desktop app is better for zoom communication when you need/want to use a desktop or laptop webcam and videos will be larger on the desktop app. Is there a preferred browser that I should use?
It is strongly recommended that you download and use Google Chrome for minimal difficulties in accessing the event. If you use Safari, Microsoft Edge, or Firefox, it may be easiest for you to participate in sessions by utilizing the Zoom link that will be dropped into the session chat function at the start of each session. Can I familiarize myself with the app before the event starts?
Absolutely! Build out your agenda, virtually network with other TMC Family members via the community board, learn about what all of our great sponsors have to offer, and more! How do I add sessions to my agenda?
After making your way to the Agenda tab on the Whova app, select the session you're interested in, and click "Add to My Agenda". If you're interested
How can I ask the presenters questions?
You can ask questions through either the Q&A or chat functions, as pictured below.
What should I do if I can't access the session I want to attend the day of?
Check the Whova chat box and access the session through the Zoom link that the moderator will have posted at the start of the session. What if I can't hear the presenters?
If you're accessing the session through your web browser, try refreshing the page. If that doesn't fix the problem, then check the Whova chat box and access the session through the Zoom link that the moderator will have posted at the start of the session. Who should I contact if I'm having technical difficulties?
If you're having any technical issues, you can contact our TMC Team here and we'll work with you to resolve any problems you may be having!  Top Headlines...
Black Knight Announces Addition of Catherine Burke to Board of Directors Plaza Home Mortgage & Planet Home Mortgage Recognized by MReport among Top 30 Institutions in Mortgage & Servicing SimpleNexus Collaboration with Progressive Insurance to Bring Home Insurance to More than 3 MM SimpleNexus Mobile App Users Thought Leadership... Arch MI Capital Commentary: featuring VP, Government & Industry Relations, Kirk Willison Blend Head of Diversity, Inclusion & Belonging, Ulysses Smith: You're Doing Diversity Wrong Again, Here's 5 Ways to Do it Right Total Expert Founder & CEO, Joe Welu: 4 Ways to Operationalize Empathy in Your Customer Communications Now Blog... MGIC Integrates with Mortgage Coach on Online Borrower Conversion Platform MQMR Weekly FAQ: Vendor & 3rd Party Oversight Events... SimpleNexus presents SNUG 2021: February 22-24, 2021 12 Days of TMC Kicks off Tuesday, December 1st! Top Headlines...
First American Docutech - Encompass Integration: Allowing Lenders to Implement Dynamic Doc Generation & eClosing NationalMI Ranked 24th on Fortune 100's Fastest Growing Company List Check Out the New Informa: FBX - Financial Benchmarking & Omnichannel Experience MQMR: 'Let's Do Lunch' Contest Continues Through 11/27; Recognize Your Compliance Team Today! Try Out SimpleNexus' ROI Calculator to Realize Your Potential Savings LBA Ware's LimeGear BI Platform Enhances Performance Dashboards & Scorecards for Users Stewart Partners With CertifID to Help Eliminate Wire Fraud Thought Leadership... Arch MI's Fall 2020 HaMMR Report presented by Ralph DeFranco, Ph.D. Scotsman Guide Feature: SocialSurvey CEO, Scott Harris Events... Virtual Event: Maxwell presents MAXOUT - Fall 2020" Nov 16-18, 2020 Virtual Event: Notarize Presents Rewired: Nov 18th, 2020 Virtual Event: SimpleNexus Presents SNUG 2021: Feb 22 - 24, 202 Personnel Announcements... LBA Ware Announces the Addition of Kim Schneiders as Senior Sales Consultant Blog... Stewart Blog: Pandemic Job Recovery Progresses Capacity: 20 Marketing Leaders Elevating Tech Across Industries Blend: Adopting Your New eClose Solutions - Overcoming Objections Sales Boomerang: Learn How to Get a Shot at 100% Client Retention MQMR: 7 Tips For Ensuring a Successful MERS Annual Report Review SocialSurvey: 3 Tips to Close Every Referral Total Expert Whitepaper: Changing Role of the Financial Services CMO LoanLogics B-Logics: Digital Labor - You're Hired! Credit Plus Knowledge Center: Speeding Up Closings ActiveComply: Why LO's Should Use Corporate Pages on Social Media PHOENIX: Scratch & Dent Documents a Mess? Plaza Home Mortgage National Correspondent: "Scratch & Dent" or Certified? Freddie Mac: Top 4 Things Every New Homeowner Should Do Media... Blend On-Demand Webinar: Making the Shift to Contextually Relevant Banking Maxwell - Clear to Close Podcast: Discovering Your Core Competency (VIDEO) Fannie Mae's Noble Appraiser Series: The Myth of the One-Mile Rule  We all know how difficult the pandemic has been on our country, and it is changing the way many people handle their banking. From the best big bank to the best small bank and everything in between, Newsweek has named America's Best Banks for 2021 based on 55 different factors. Making the list are some of our own Lender Members and Preferred Partners - congratulations to everyone that was recognized!
Centennial Bank People's United Bank Bank of England Mascoma Bank Nicolet National Bank WesBanco Top Headlines...
Black Knight: Rate Lock Data Suggest Originations Will Surpass $4T for First Time Ever MERSCORP Holdings, Inc. Announces October Record of 66,000+ eNotes Registered in October Fannie Mae's New Servicer Toolkit SimpleNexus ROI Calculator: Key to Mortgage Lenders Modeling Benefits of Digital Mortgage Technology ActiveComply: Social Media Compliance Cheat Sheet for LO's PHOENIX - September 2020 Market Snapshot ICYMI: LBA Ware Releases Q3 2020 Compensation Report Findings Thought Leadership... MQMR: Internal Audit - Policies & Procedures Sales Boomerang: How to Build an LO Team That Reflects Your Customer Base Loan Vision Blog: Four Tips for Communicating More Effectively With Your Branches Media... Client Testimonial: Retention 1st Philosophy: Apex Home Loans Co-Founder & CEO, Craig Strent on Sales Boomerang Events... Virtual Event: Maxwell presents: MAXOUT Fall 2020 - Nov 16 - 18  Top Headlines...
Black Knight: The Seller's Market is Here to Stay for Awhile Maxwell eBook: Mortgage Industry's Voter Guide 2020 Built Working with nCino to Drive Digital Transformation of Construction Lending for Financial Institutions Capacity: Most Fundable Company Capacity Raises $11M in Series C Financing Notarize: Make Virtual Signing Experiences More Personal Thought Leadership... Blend President, Tim Mayopoulos on Where the Industry Needs to Be - More Affordable Housing, Better Credit Scoring LBA Ware's Chris Gassel: Industry Forecasts - Best Bet to Read Your Own Tea Leaves Media... Video - MBANow: Interview with First American Docutech President, Amy Brandt On Demand Webinar: Black Knight - No More Complex, Confusing Closings with Expedite Close Arch MI Policy Cast: Solutions for Minority Homeownership with Alanna McCargo Events... Webinar: Achieving Frictionless B2B Commerce in the Mortgage Industry, featuring LoanLogics Virtual Event: Maxwell presents: MAXOUT Fall 2020 - Nov 16 - 18  During this year's Mortgage Bankers Association virtual Annual Convention & Expo, MBA announced its 2021 Board of Directors and its Residential Board of Governers. We were thrilled to see so many members of TMC recognized in both groups. The MBA Board of Directors comprises 39 elected members and one ex-officio member, MBA President and CEO Bob Broeksmit, CMB. MBA directors represent its commercial/multifamily, residential and associate membership. The Board of Directors sets the strategic direction for MBA and also oversees management of the association’s affairs. New members of MBA's Board of Directors: • Albert P. Blank, Union Home Mortgage • Eric Gates, Apex Home Loans • Nima Ghamsari, Blend • Owen V. Lee, Success Mortgage Partners, Inc. • Claudia J. Merkle, National Mortgage Insurance Corporation • Christine C. Rhea, Mortgage Investors Group Returning members of MBA's Board of Directors: • William Lowman, American Pacific Mortgage Company • Eduardo Perez, CMB, EPM • Debra W. Still, CMB, Pulte Financial Services RESBOG is the governing body for MBA’s single-family residential members, responsible for establishing legislative and regulatory policies and positions on residential lending issues. Newly elected members of MBA's RESBOG: • Patty Arvielo, New American Funding • Jack Thompson, Legacy Mortgage Returning members of MBA's RESBOG: • Al Blank (Vice Chair), Union Home Mortgage • Nicholas DelTorto, Inlanta Mortgage, Inc. • David Gansberg, Arch Capital Group • Eric Gates, Apex Home Loans, Inc. • Tawn Kelley, Taylor Morrison Home Funding • Bill Lowman, American Pacific Mortgage Corporation • Gene Lugat, PrimeLending • Steven Plaisance, Arvest Bank • Chrissi Rhea, Mortgage Investors Group • Fowler Williams, Crescent Mortgage Top Headlines...
Built Technologies CEO, Chase Gilbert Honored by Goldman Sachs Among Top 100 Most Intriguing Entrepreneurs at 2020 Builders + Innovators Summit LBA Ware's LimeGear: Inspire Results with Turnkey BI Associated Bank: Q3 - 2020 Market Review Thought Leadership... MGIC Digital Marketing Specialist, Zac Stoiber: 9 Reasons I'm Ready to Buy My First Home TriServ Personnel Profile: SVP of Sales, Ted Venhorst Blog... Blend: 4 Reasons Digital Agility in Lending Has Become A Necessity Freddie Mac: Evaluating Income Among A Pandemic LoanLogics B-Logics: Mortgage Doc Processing You Can Try Before You Buy ActiveComply: Instagram for Business - Simple Steps to Transition from Personal Usage to Business with Ease MQMR Weekly FAQ: Outsourcing - Contract Employees & Exclusionary Lists Personnel Announcements... SimpleNexus Announces Addition of Tracy Farber as Director of Solution Engineering Media... Podcast: The Future of Digital Closings, featuring First American Docutech President, Amy Brandt Credit Plus Knowledge Hub: Add Previously Frozen Files to Credit Reports Power Your Possibilities with Arch MI Events... Virtual Event: Maxwell presents: MAXOUT Fall 2020 - Nov 16 - 18 Webinar featuring LoanLogics: Achieving Frictionless B2B Commerce in the Mortgage Industry
September was another record setting closing month for many of TMC's national network of best-in-class mortgage lenders that submit data to TMC Benchmark. Closed loan production (units) in September was nearly identical to August, making it five straight months of closings higher than we'd ever seen before from our network in the four-year history of our popular network data benchmarking tool. Our weary lender members may see a little operational relief in sight, as applications (units) were down 27.4% in September as compared to August. For some perspective, even with the drop-off, September application totals were still higher than any one single month in 2019. Operational efficiency stayed pretty flat for our network in September after reaching all-time highs in June, and slowly falling over the summer months.
As noted above, closed loan units were nearly identical month-over-month (-1.2% from August to September) as was the mix of conventional (76%) and government (19%) business. The purchase/refinance mix on closed loan units in September was 51%/49%. Let's take a look at that mix for the last five months:: May - 42% purchase, 58% refinance June - 51% purchase, 49% refinance July - 58% purchase, 42% refinance August - 55% purchase, 45% refinance September - 51% purchase, 49% refinance Applications were down in September, but still strong. We've been seeing the % share of government loan applications slowly decline these past several months, topping out at 21% in June and falling to 17% for this latest month. The lagging closed loan data has followed this trend. Operational productivity and efficiency stayed pretty consistent in September. On average, it took our members 3.3 days longer to close loans in September versus August, with the average "app date to clear to close date" time frame rising from 39.5 days to 42.8 days in the most recent month. It will be very interesting to see how operational efficiency holds up with lenders staffing up all summer and volume now starting to tail off a bit. Certainly efficiency will continue to drop as volume does, but how will efficiency this fall and winter compare with last fall and winter? We shall start to see in the coming months. Here's the closed loan unit totals per FTE (full-time employee) for the last five months (May/June/July/August/September). While processor and closer efficiency stayed flat, underwriter efficiency fell off and LO productivity increased: Processor - 16/17.2/16.8/15.2/15.1 Underwriter - 51.8/54.8/52.1/50.1/47.5 Closer - 63.8/64.8/62.7/61.8/61.8 Loan Originator - 7.0/8.1/8.2/8.1/8.6 The average LO comp on September closings came in at 97.5 bps, up 0.7 bps from August's 96.8 total. We've seen this number vacillate between 95-105 bps these first nine months of 2020. We saw increases in the average non-third party lender fees per loan our members charge their customers, with conventional loans coming in at $1,136 and government at $1,109. On the compensation side, the average annual comp paid to underwriters fell for the fourth straight month to $88,419 after peaking in May at $94,767. Processor annual comp rose to $53,181 after declining each of the three months prior. Closer compensation has continued to increase all year, rising another $1,000/yr to $56,330 in September. The average cost per closed loan our members paid for their loan origination system (LOS) fell from $95 to $93 per closed loan unit. We've continued to see the average cost of point-of-sale (POS) systems fall pretty precipitously all summer, with the September total at an all-time low of $42 per closed loan unit. The average cost our members pay for their CRM increased from $89 to $107 in September. 51% of companies that submitted September data to TMC Benchmark were independent mortgage bankers (IMB's) and 49% were depositories. 37% originate $500M or less annually, 22% originate between $500M-$1B, and 41% originate $1 billion per year or more in total volume. Rich Swerbinsky Chief Operating Officer - The Mortgage Collaborative rswerbinsky@mtgcoop.com |
Rich Swerbinsky
TMC - Chief Operating Officer 
Archives
January 2021
Categories
|
