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New Tool Helps Brokers Compare Wholesale Lender Pricing And Go Digital

Lender Price, a provider of digital origination solutions for mortgage lenders and the National Association of Mortgage Brokers (NAMB) announced today the release of NAMB Marketplace, a new loan origination tool that features a loan pricing engine and a digital loan portal. NAMB and Lender Price are offering the NAMB Marketplace tool to all NAMB members at no cost. 


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“NAMB Marketplace puts power back in the hands of the mortgage broker,” said Rick Bettencourt, NAMB president. “We’ve seen other industries use technology to completely transform the way they do business. We believe NAMB Marketplace does exactly the same thing for mortgage brokers. We’re giving our members a powerful tool that normally would cost thousands of dollars for free. This will transform the way our members generate leads and service their customers.”


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NAMB Marketplace is an online system that combines a loan price comparison tool with a digital point-of-sale platform. Originators input a loan scenario and the product pricing and eligibility (PPE) engine automatically compares real-time prices between 18 wholesale lenders, including 7 of the industry’s top 10 lenders. A wide range of product types are available, including Conforming, FHA, VA, Non-Agency and Non-QM. Once a lender and a price are selected, originators instantly send an email invitation to a borrower, enabling rapid collection of loan application information in both a desktop and mobile format.


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Loan applications are available to originators in an online lending portal for review and to export in a FNMA 3.2 file format, making it easy to transfer data directly into other systems, such as a loan origination system (LOS) or to upload into a wholesale lender portal.


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“Mortgage brokers have been underserved with technology,” said Dawar Alimi, president and CEO of Lender Price. “Even though there has been a surge of technology investment in the mortgage space, mortgage brokers are using outdated technology. We saw an opportunity to give brokers innovative, and useful, and modern technology and at the same time provide a marketing opportunity for lenders so that everybody wins. We’re proud to partner with NAMB.” 

NAMB Marketplace is available for free to NAMB Members. To register for NAMB Marketplace visit https://lenderprice.com/marketplace/. For more information on NAMB marketplace, reach out to NAMBsupport@lenderprice.com.

Lender Launches Consumer-Facing Website Touting Benefits Of Working With Mortgage Brokers

United Wholesale Mortgage (UWM) has launched a consumer-facing website, FindAMortgageBroker.com, dedicated solely to promoting the advantages of working with a mortgage broker for borrowers as well as real estate professionals, and helping both groups easily locate mortgage brokers in their area.

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UWM created the website to enhance awareness of mortgage brokers as a better option than large banks and mega retail lenders for three groups: consumers looking to get a residential loan; real estate professionals who want to build reliable partnerships and empower their clients; and bank or retail loan originators who are looking for the best place to work.

“Consumers are constantly inundated with advertising from banks and mega retail lenders that is only focused on interest rates, but there is more to a mortgage than the rate. More focus should be on finding the best program and lowest overall monthly payment for their specific needs, and the interest rate is only a small part of that,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “A local mortgage broker will educate consumers on the full picture, clearly lay out all the options available from multiple lenders, and help them find the best possible deal. FindAMortgageBroker.com gives consumers nationwide a platform to easily locate nearby mortgage brokers and learn about why they’re the best choice for getting a mortgage.”

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In addition to serving as an educational guide of written and video content explaining the value of mortgage brokers, the website provides a nationwide database of mortgage brokers filtered by location.

“Mortgage brokers are the best way for people to get a mortgage, but it’s difficult for people to use a broker if they don’t know where to find one. This website will make it easy to find a mortgage broker that is local to them,” Ishbia said.

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Investing in this website to ensure that borrowers are educated on why mortgage brokers are best further supports UWM’s commitment to growing the independent mortgage broker channel.

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Lenders Innovate, Too

We always talk about technology vendors innovating, but lenders are innovating, as well. For Example. American Financial Resources, Inc., an approved Fannie Mae, Ginnie Mae and Freddie Mac seller/servicer, the leading sponsored originator for FHA 203k loans and one of the nation’s leading independent mortgage originators, has launched MyLoanCenter, a new B2B technology solution to streamline and improve the way brokers communicate with their customers.

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MyLoanCenter is a free, mobile-optimized, white-label platform that facilitates real-time communication between the broker, borrower and lender, as well as effective monitoring of the loan at every stage of the process. It can help brokers better manage their client relationships and keep track of important transactions, while empowering the borrower by allowing them to remain constantly apprised of their loan status.

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The platform offers a range of innovative features, which include:

>> Admin Control – highly customizable settings that allow brokers to apply personal branding to the platform interface, create and manage internal teams, edit branch permissions and more

>> Loan Pipeline and Pipeline Management – enables brokers to view and sort their existing loan pipeline, register new loans, access pricing, order appraisals and conduct a loan estimate review expeditiously

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>> Loan Feed – provides brokers and borrowers alike with the opportunity to view real-time updates pertaining to the status of their loan, and any outstanding action items

>> Newsroom – helps users to remain abreast of pertinent news regarding regulatory updates, industry news and updates to the platform

>> Data Sync – MyLoanCenter enables instant upload of necessary client and broker documents

“Technology has transformed the lives of everyday Americans in recent years and, now more than ever, they require tools that simplify and streamline seemingly complex tasks such as applying for a mortgage,” said Bill Packer, CIO at American Financial Resources. “The development of this tool underscores not only American Financial Resource’s pioneering mindset, but its commitment to ensuring an optimal experience for both brokers and lenders.”

Parsippany, NJ-based American Financial Resources is a leading wholesale, correspondent, and retail mortgage originator and servicer of residential mortgage loans. AFR has residential mortgage banking licenses in all 50 states plus HUD, FHA, Fannie Mae, Freddie Mac, VA, Guaranteed Rural Housing and Ginnie Mae authority to underwrite and service mortgage loans. The Company’s wholesale/correspondent division serves a nationwide network of more than 1,000 wholesale/correspondent brokers making it one of the largest providers of these services in the country.

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NAMB, United Wholesale Mortgage Announce $500,000 KickStart Program

The National Association of Mortgage Brokers (NAMB), The Association of Mortgage Professionals, announced today the launch of the KickStart program, an initiative designed to grow the mortgage broker channel by providing grants to loan originators aspiring to open their own mortgage shops. With a $500,000 grant from United Wholesale Mortgage (UWM), the No.1 wholesale lender in the nation and the program’s first sponsorship partner, Kickstart will begin immediately.

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The initiative will grant interested and qualified individual loan originators an amount up to $10,000, with the aim of covering startup costs such as office space and software technology that makes it possible for them to accept loan applications. Applicants are not required to pay back the funds.

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“At NAMB, our mission is to grow the mortgage broker channel, and the KickStart initiative shows how committed we are to putting our money where our mouth is,” said Don Frommeyer, CEO of NAMB. “We value the industry leadership and sponsorship UWM has provided to get this program off the ground, and we hope other lenders will participate in the program as sponsors as well.”

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KickStart is targeting loan originators in banks or branch networks who have experience in the residential mortgage industry and demonstrate a potential aptitude to successfully own and operate an independent mortgage brokerage firm. These individuals should embody an entrepreneurial spirit and have experience as a mortgage loan officer. Requirements that applicants must meet in order to receive funding include:

>>Minimum 3 years of experience in the mortgage industry

>>Company description

>>Production goals

>>Anticipated operational structure

“The KickStart program is about strengthening the mortgage broker channel as a whole because it’s the best way for consumers to get a loan,” said Mat Ishbia, President and CEO of UWM. “Wholesale currently makes up 12 percent of market share – the goal is to double that, at the least. KickStart will strengthen the market by getting more loan originators where they belong, at independent mortgage companies. We hope that our competitors will join us in this initiative to make the wholesale channel stronger.”

In a survey that NAMB distributed to approximately 200 loan originators around the country, roughly 70% of respondents reported an interest in owning their own shop. In the same survey, 44% of respondents indicated money as their main barrier to opening their own business, but 60% said they would be more inclined to take the chance if given seed money.

Grant requests are reviewed and approved by the KickStart Review Committee, which is comprised of three NAMB representatives, two independent mortgage brokers, and one representative from UWM. Other wholesale lenders that sponsor up to $500,000 toward the program are invited to have an individual from their organization sit on the committee.

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Lenders Need To Get This Right

Too often lenders worry more about the process and not enough about their customer. Good lenders offer great customer service. For example, United Wholesale Mortgage (UWM), the country’s No. 1 wholesale mortgage lender, has announced the creation of its Pronto team, a solutions-focused super-helpdesk aimed at providing the fastest and most streamlined client service in the industry.

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“Delivering exceptional client service is the backbone of our company,” said Mat Ishbia, president and CEO of UWM. “We are confident that our Pronto Team will set the gold standard for service industrywide.”

Pronto is a client service supergroup that is staffed with experts in every mortgage discipline to support UWM’s front line teams of account executives and underwriters. Comprised of experts in underwriting, closing, secondary marketing, AUS and closing, Pronto is on-call for brokers when additional help is needed in any facet of the loan process.

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UWM has launched a multimedia “We Have Pronto” campaign to illustrate Pronto and the major advantages it offers its nationwide network of independent mortgage brokers. In a recently released video, UWM compares the make-up of its Pronto team to a Rock n’ Roll Supergroup “where they’ve taken the best musicians from the greatest bands and put them together on one stage.”

Pronto gives brokers access to constant support and ensures that clients’ tough questions get answered, tricky circumstances get resolved, and high expectations are met in a timely manner.

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HomeUnion Launches Broker Subsidiary

HomeUnion, an online, real-estate investment management firm enabling value investing in single-family rental (SFR) properties announced today that they have launched HomeUnion Lending, Inc., a wholly owned subsidiary of HomeUnion. The company also announced that Chris Diaz has been hired to run the new mortgage brokerage.

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HomeUnion Lending will give SFR investors a mortgage option with a lender dedicated to meeting the needs for SFR investors. These needs include GSE-backed (i.e. Fannie Mae and Freddy Mac) loans when appropriate, the option of using asset-based lending vehicles and, how best to value rental income streams when making a lending decision. If they qualify, investors can take out up to 10 GSE-backed mortgages for investment properties. HomeUnion Lending will also work with other lenders to provide financing to investors who may want to purchase more than 10 houses or need different qualifying guidelines.  The new mortgage broker is currently licensed in Alabama, Florida, Indiana, Iowa and Oklahoma, and is expecting to be licensed in another 16 states by then end of the first quarter of 2016.

“Increasingly, we are seeing SFR investors using leverage through GSE-backed mortgages, a unique benefit for single-family home investors and other asset-based lenders to enhance their return on investment and build geographically-diverse property portfolios,” said Don Ganguly, CEO of HomeUnion. “By starting our own lending company, we’re simplifying the investment process and providing our investors with access to mortgage professionals who specialize in SFR lending and understand the particular needs of investors seeking to use leverage. All of this will allow us to provide superior customer service to SFR investors.”

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Chris Diaz brings more than 18 years of industry experience to the company and is responsible for building the infrastructure and running the day-to-day brokerage operations. Prior to joining HomeUnion, Diaz built his own real estate and mortgage company, was a columnist for the Orange County Register and was a district manager with H&R Block Mortgage.

Diaz said, “HomeUnion is providing online data and analytics that help individuals intelligently buy remote SFR properties, and a dedicated SFR financing component adds a new level of customer service that simplifies the process even more.”

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Easing The Pathway For Brokers And Correspondents To Get To Lenders

SecondaryWire, Inc., the wholesale mortgage auction platform, has released a new integration with Calyx Point Software. Now, mortgage bankers and brokers can upload loan data directly from Calyx Point and automatically generate loan postings to receive bids for their mortgage loans from lenders on SecondaryWire.

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“SecondaryWire’s integration with Point is just the latest example of our commitment to ensuring that loan originators have the support they need to maximize their performance and serve their customers effectively,” said Larry Mullen, Founder and Executive Vice President of SecondaryWire. “We’re very excited to add direct support for the tool that so many of our customers rely on to originate and process their loans. Extending their workflow automation into lender outreach on our platform is a natural evolution for Point users.”

SecondaryWire is a wholesale mortgage auction platform that allows loan sellers to post auction listings with basic loan details, including loan amount, interest rates, and credit scores. Lenders can search for loans that meet specific portfolio requirements, bid on the loans and connect with brokers anywhere in the U.S., without the expense of opening branches or increasing staff.

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“We are always pleased about adding capabilities and new services to our products to help our customers. The integration with SecondaryWire will allow easy, secure access to an innovative platform which has the potential to help our customers increase their profitability and efficiency without increasing overhead expenses. This is the goal of every business,” said Dennis Boggs, Senior EVP for Calyx Software.

Reaching Out To Brokers And Correspondents

United Wholesale Mortgage has launched a completely new loan origination system (LOS) that is loaded with features and tools for brokers and correspondents. The proprietary technology replaces UWM’s previous LOS and offers many benefits for its broker and correspondent partners.

UWM built the solution from the ground up using its in-house team of more than 150 IT professionals. The completely customized technology called EASE took almost a year to develop, test and implement, which UWM says is a testament to its unwavering commitment to excellence.

“Making it incredibly easy to partner with us is a huge focus at UWM,” stated Mt Ishbia, president and CEO at UWM. “We spent significant time and money to develop this technology, which was done exclusively to benefit our brokers and correspondents. We want to be the most service-focused wholesale lender in the country. Leveraging state-of-the-art technology is a big part of the value we deliver to our partners.”

EASE allows brokers to effortlessly use drag and drop technology throughout the site. This feature is used to deliver FNMA 3.2 files and other various documents, which auto populate into EASE’s proprietary product and pricing engine, Easy Qualifier (EQ), thus saving tremendous amounts of time. EQ qualifies and provides live pricing on multiple programs while simultaneously providing UWM’s brokers and correspondents with the ability to instantly give their borrowers the best possible options.

With the click of a button, the broker can select the product, MI and calculate the interest rate. They are empowered to pull DU® or LP® which instantly provides an automated underwriting decision. Pipeline management, date tracking and lock expiration alerts are also provided on an easy-to-read dashboard.

“We didn’t want to just purchase a commercially available loan origination system, as many of today’s systems fall short from the high expectations of UWM. We attempt to always deliver above and beyond technology and the only way to do that was to build it ourselves,” said Justin Glass, chief digital officer at UWM. “We feel that this is the most advanced mortgage-based technology solution and is head and shoulders above other wholesale lenders, giving our partners an unparalleled competitive advantage.”

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Reaching Out To Brokers

Carrington Mortgage Services has launched www.CarringtonMarketingGenie.com, a broker marketing portal available exclusively to Carrington Approved Brokers as a value-added service. Carrington Approved Brokers can now market themselves to new and existing customers with professional, targeted materials covering the loan products most needed in their respective markets – regardless of whether or not Carrington currently offers those loan products.

From Carrington’s online portal, brokers can access, customize, order and purchase marketing materials covering a wide variety of loan types, including FHA Purchase and Refinance, VA Purchase and Refinance, USDA, Jumbo, Conventional, Low Down Payment, Co-op, and programs focused on the needs of first-time homebuyers. Having access to tools like this allows brokers to focus on other aspects of their business – most importantly, closing loans.

“Carrington’s broker network plays a significant role in our overall business strategy, and so we take the partnership we have with our brokers very seriously,” said Ray Brousseau, Executive Vice President of Carrington Mortgage Services, LLC’s Mortgage Lending Division. “By providing our brokers with access to effective tools to support their customers and grow their respective businesses, Carrington is able to further extend its reach to meet the unique needs of prospective borrowers – particularly those in the underserved market.”

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