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Attracting New Borrowers

I recently attended a number of meetings in San Diego at the Mortgage Bankers Annual Convention. What struck me were lenders’ understanding, or should I say, misunderstanding of marketing automation. When asked if they used marketing automation to drive new business to the point of sale most responded by saying “yes, we already have a CRM solution, or we do some email marketing and social media.” Isn’t that what marketing automation is? The answer is a resounding NO.

So what is marketing automation?

Marketing automation refers to software platforms and technologies designed for marketing departments and organizations to more effectively market on multiple channels online (such as email, social media, websites, etc.) and automate repetitive tasks.

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“At its best, marketing automation is software and tactics that allow companies to buy and sell like Amazon – that is, to nurture prospects with highly personalized, useful content that helps convert prospects to customers and turn customers into delighted customers. This type of marketing automation typically generates significant new revenue for companies, and provides an excellent return on the investment required.” Hupspot.

Why is Marketing Automation important to lenders?

In order to survive and thrive in this mortgage environment of constantly changing rules and regulations, heightened competition for borrowers and extreme pressure to produce results, you must realize the need to identify high quality business opportunities. It is critical to identify leads quickly and efficiently and then drive them to the point-of-sale with compliant communications for converting them into borrowers. It’s equally important to retain these borrowers and to maximize their on-going value through repeat business and referrals.

Engaging these prospective borrowers in real time across a multitude of channels such as the Internet, email, social media, print, video, and mobile devices highlights the importance of working with a proven mortgage specific marketing automation solution that can bring out the best in your marketing while easing your compliance burden.

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This requires a proven enterprise-wide marketing automation solution that supports you and your specific initiatives to address these market conditions. Each person in your organization that is involved with driving growth is empowered to focus on what they do best. For example, Loan Officers are free to close more loans, instead of trying to create marketing materials. C-level executives are presented with sophisticated, yet easy-to-use tools for more effective oversight and management, while marketing managers can demonstrate their marketing genius and compliantly maintain brand consistency across the organization.

Just having a CRM solution (electronic rolodex) or emailing some general marketing messages, and posting on social media every once in a while is not marketing automation. More importantly, it will not consistently and compliantly drive new business to the point of sale. So if you are serious about growing your lending business, it is critical to understand what mortgage specific marketing automation can do for you.

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Compliantly Drive New Business

Regulation. It’s everywhere these days. And on the marketing side of every mortgage company’s operations, as much as any other, it means that management has to take a much more active role in ensuring its brand and its products are correctly and compliantly represented in the marketplace. Communications with prospects, customers and even referral partners – whether driven from the center or by loan originators – must be controlled, but without inhibiting genuine creativity and individual initiative.

A dynamic marketing automation solution establishes a controlled environment in which ingenuity and enterprise are able to flourish. The system does this by providing management with five levels of control over the players in the marketing process. All you have to do is decide what degree of control you want to exercise in relation to each of the system’s key functions. For example, you can make sure that Loan Officers are unable to edit company information or upload unacceptable graphics or run on-demand campaigns that breach corporate guidelines.

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The levels of management control available in leading marketing automation are as follows, working down from the most to the least restrictive:

Prohibition: Different types of users can be prevented from accessing a system function, or even an entire page, by means of the solutions “permissions” capability.

Authorization: Marketing materials created by users at lower levels in the corporate hierarchy cannot be implemented until approved at the center.

Alert: A defined set of fields is monitored and changes reported via a feed on the solutions Home page, enabling quick action to remedy any departure from company policy.

Oversight: Users at higher levels in the corporate hierarchy can “impersonate” users at lower levels, giving management an instant window on the activities of Loan Officers.

Reporting: A reporting module provides information that allows management to hold users at lower levels accountable for their performance.

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AUTHORIZATION LOOP: Built into the solution is the ability to carefully manage marketing content and activities and to customize access ultimately reducing marketing compliance risk. A built-in authorization loop ensures that all content is approved by your nominated managers – for example: compliance officer, brand supervisor – before it’s made available for use in activity series and on-demand campaigns. When you copy, change or create any marketing material, the managers are notified by system-generated e-mail. They are free to approve or amend or even delete the item.

In today’s lending environment lenders need to focus on more than just TRID. It is critical for lenders to implement powerful marketing automation to properly handle marketing compliance and control. When looking to drive new borrowers to the point of sale do it compliantly with marketing automation.

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Compliance Doesn’t Matter

That may sound like a bold and foolish statement. There is an intense regulatory burden that is stretching staff resources and driving up the cost to originate. While all of the new rules and regulations are certainly an important priority for all lenders, and one that must be properly addressed, at the end of the day, compliance doesn’t matter if you don’t have any borrowers.

Even with the flood of rules and regulations and the enormous pressure to comply, lenders must continue to attract new borrowers if they want to remain viable. In the face of these challenges lenders cannot afford to loose sight of the importance of bringing in new business and constantly looking for ways to drive new business in the most efficient manner possible.

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How will your company continue to thrive in such a demanding and compliance focused environment? Identifying and acting on high-quality business opportunities is a big part of the answer. You need to generate leads quickly and efficiently, and then drive them to the point-of-sale. You need to convert them into customers with compliant in-process marketing. You also need to retain them and maximize their lifetime value through repeat business and referrals. It’s critically important to create and nourish strong relationships with referral partners in a purchase market.

That’s where marketing automation comes into play. Lenders focused on driving new business and attracting more borrowers are turning to advanced marketing technology to attract more borrowers in today’s highly competitive and regulated mortgage market.

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So what is marketing automation and why should lenders take notice? Marketing automation for lenders can be described as software and strategies that allow companies to consistently attract new borrowers–that is, to nurture prospective borrowers with highly personalized, relevant content that helps convert borrowers into customers and turns customers into raving fans. Marketing automation typically generates significant new revenue for lenders and provides an excellent return on the investment, in addition to attracting top loan officer (LO) talent to the organization.

Leading LO’s demand advanced marketing solutions. These solutions automate engagement with prospective clients and provide relevant updates for in-process milestones while developing and enhancing partner relationships. Marketing Automation employs leading technology to maximize marketing relevance and automation of communication that capitalizes on opportunities to increase pipelines and profitability. LO’s experience:

>> Increased pipelines and commission potential

>> Maximize market opportunities

>> Experience a surge in response rates

>> Develop loyalty throughout customer base

>> Gain a clear competitive advantage

>> Automate communications with prospective borrowers and clients

>> Develop and enhance partner relationships

At the end of the day, compliance does matter, but it only matters if you have borrowers. That’s where marketing automation comes into play. Isn’t it time to focus as much attention on driving new business as you do in meeting your compliance obligations?

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Driving New Business To The POS

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Brandon-PerryToday’s market conditions continue to present numerous challenges for lenders. Originations are down and there is a flood of new rules and regulations, which contributes to the rising costs to originate. Combine those challenges with low customer loyalty, intense competition for new borrowers, and the pressure to grow business, it is clear that times continue to be tough for lenders.

Originations are down:

The Mortgage Bankers Association has bumped up its forecast for 2015 originations due to higher-than-expected refinancing activity. But it still is not going to be a great year. Originations in 2014 were the “lowest in 14 years and 2015 is going to be marginally better,” said MBA chief economist Michael Fratantoni. The new 2015 forecast calls for $1.19 trillion in one-to-four family originations, up 6% from $1.12 trillion in 2014.

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Regulations are up:

The housing crisis in the United States over the past several years has brought with it new regulations in mortgage practices. Banks and lenders now have to follow what the new mortgage lending rules really mean and enforce their practices. The government is constantly reviewing rules and initiatives to make home mortgages as safe as possible for both lenders and borrowers.

Cost of Acquiring New Business:

Acquiring a new customer costs about five to seven times as much as maintaining a profitable relationship with an existing customer. This is especially true in the mortgage industry, as the cost to originate continue to soar.

Pressure to Grow Business:

Companies that are in highly regulated and competitive industries are under intense pressure to grow their business while maintaining compliance.

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The intense regulatory burden is stretching staff resources and driving up the cost to originate. The industry continues to experience roller coaster interest rates, constantly changing rules and regulations, heightened competition for borrowers, and extreme pressure to produce results. In the face of these challenges, lenders are constantly looking for ways to drive new business in the most efficient manner possible.

Even with the flood of rules and regulations and the enormous pressure to comply, lenders must continue to attract new borrowers if they want to remain viable. Even if they meet all compliance mandates, it will be irrelevant if they don’t have any business coming in the door.

How will your company continue to thrive in such a demanding environment? Identifying and acting on high-quality business opportunities is a big part of the answer. You need to generate leads quickly and efficiently, and then drive them to the point-of-sale. You need to convert them into customers with compliant in-process marketing. You also need to retain them and maximize their lifetime value through repeat business and referrals. It’s critically important to create and nourish strong relationships with referral partners in a purchase market

Lenders need to turn to marketing automation to drive high-quality business to the point of sale. Lenders focused on driving new business and attracting more borrowers are turning to advanced marketing technology to attract more borrowers in today’s highly competitive and regulated mortgage market.

So what is marketing automation and why should lenders take notice? Marketing automation for lenders can be described as software and strategies that allow companies to consistently attract new borrowers—that is, to nurture prospective borrowers with highly personalized, relevant content that helps convert borrowers into customers and turns customers into raving fans.

So, what does the ideal marketing automation solution look like? For lenders looking to drive new business with marketing automation it needs to include:

>> Automated Loyalty Marketing

Loyal customers are less expensive to serve, typically buy more frequently and at higher rates, and often refer other borrowers. Automated loyalty-marketing delivers: conversations that engage borrowers, promote loyalty, increase retention, and enhance the borrowers lifetime value.

>> On-Demand Campaigns

Custom Campaigns can be run quickly and easily on-demand to any mix of contact databases: prospects, applicants, borrowers and partners. You’ll want to run a campaign whenever you spot a tactical sales opportunity — for example, a change in interest rates or other market conditions. On-demand campaigns are also an effective way of just staying in touch with your database — for example, making announcements about significant changes at your company.

>> Extensive Mortgage Specific Content Library

Find hundreds of ready-to-go marketing materials that have been professionally prepared. Choose from postcards, letters, greeting cards, newsletters, emails, and much more. The materials are categorized by format, purpose, and audience for easy access to exactly what you need. Content is constantly refreshed to target current business opportunities. In addition, there are holiday greetings, home maintenance tips, recipe cards-something for every occasion.

Copy and edit the materials and adapt them to meet your specific needs and brand standards. That’s why you’ll find a “copy” button against each item in the Marketing-Toolbox library. Clicking the button allows you to make a copy of the piece in your company’s private library, where you can edit it as necessary. You can even limit access to a specific branch or branches: for example, allowing only reverse mortgage specialists to view reverse mortgage content.

Marketing automation provides you the ability to create activities, which enable you to design marketing materials from scratch. Clicking the button takes you into a simple wizard that guides you through the steps that turn your marketing ideas into actionable content – in three minutes or less.

>> Comprehensive Mortgage/Marketing Compliance

Regulation. It’s everywhere these days. And on the marketing side of every mortgage company’s operations, as much as any other, it means that management has to take a much more active role in ensuring its brand and its products are correctly and compliantly represented in the marketplace. Communications with prospects, customers, and even referral partners – whether driven from the center or by loan originators – must be controlled, but without inhibiting genuine creativity and individual initiative.

One of mortgage specific marketing automation’s distinctive features is that it establishes a controlled environment in which ingenuity and enterprise are able to flourish. It does this by providing management with five levels of control over the players in the marketing process. All you have to do is decide what degree of control you want to exercise in relation to each of the system’s key functions. For example, you can make sure that Loan Officers are unable to edit company information, upload unacceptable graphics, or run on-demand campaigns that breach corporate guidelines.

>> Ability to Recruit & Retain Top Loan Officers

The current market conditions provide top LO’s with many choices as to the company they choose to work for. Leading LO’s demand advanced marketing solutions. These solutions automate engagement with prospective clients and provide relevant updates for in-process milestones while developing and enhancing partner relationships. Marketing Automation employs leading technology to maximize marketing relevance and automation of communication that capitalizes on opportunities to increase pipelines and profitability. LO’s experience:

  • Increased pipelines and commission potential
  • Maximize market opportunities
  • Experience a surge in response rates
  • Develop loyalty throughout customer base
  • Gain a clear competitive advantage
  • Automate communications with prospective borrowers and clients
  • Develop and enhance partner relationships

>> Ability to Drive Strong Partner Relationships

Market Alerts is a great way to stay in front of your realtors and other business partners on a weekly basis.

Loan officer personalization and automated delivery are handled through the marketing automation solution. Campaign effectiveness can easily be tracked via the system’s user interface – including confirmed reads, unconfirmed reads, forwards, unsubscribes, delivery delays and delivery failures.

Market Alerts is the professional and efficient way to keep you top-of-mind with your referral sources.

Lenders that have implemented mortgage specific marketing automation have experienced:

  • Increased Sales Revenue
  • Increased Lead Generation
  • Improved Lead Nurturing
  • Improved Marketing Productivity
  • Improved Campaign Targeting

Marketing automation typically generates significant new revenue for lenders and provides an excellent return on the investment, in addition to attracting top loan officer (LO) talent to the organization.

Mortgage specific marketing automation can increase market share, provide you with the ability to stay legal and compliant, grow profitable relationships, and protect your corporate branding. Marketing automation will increase efficiency across the organization.

Even though there is a number of challenges that lenders face in today’s market, the right mortgage specific marketing automation solution can drive new business to the point of sale.

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Can We Talk?

Most people recognize “Can we talk?” as a catchphrase used by the late Joan Rivers. But it should be a phrase that lenders are asking of their business partners and borrowers. Many of the regulations and pilot programs introduced recently will fundamentally change the way that lenders will interact with them both.

Let’s start with the consumer. The Consumer Financial Protection Bureau (CFPB) is responsible to make sure the American consumer gets all of the information they need to make an informed financial decision when it comes to mortgages, credit cards or other types of consumer financing. To ensure borrowers are kept informed throughout the lending process, lenders are being asked to provide consumers with information and documentation from the point of sale through servicing the loan. Consumers must receive copies of their initial disclosures, appraisals, closing disclosures and documents, privacy notices and many others. The result is that consumers are becoming involved in the mortgage process as never before.

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To facilitate this new level of interaction with borrowers, many lenders are turning their static websites into interactive communication portals. Instead of just presenting information to a consumer or asking them to fill in a form or application, lenders are creating a two way dialogue with their customers. They are implementing tools such as: live chat where a consumer can electronically chat directly with a loan officer or help desk; secure messaging for communicating sensitive non-public personal information; document exchange where consumers can go to not only electronically view their documents, but also send documents back to the lender if necessary; and finally electronic signatures where borrowers can electronically sign and return documents with the click of a mouse or the tap of a screen. With today’s on the go consumer, these features need to be available not only from a consumers computer, but from their smartphones and tablets as well.

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But it’s not only borrowers that lenders need to step up their communications with. Business partners such as closing agents, attorneys and title companies are going to need additional attention as well. Starting in August of this year, the current Truth in Lending disclosure document and HUD-1 Settlement Statement will be combined into a single document known as the Closing Disclosure. Currently, in many cases the HUD-1 statement is not produced by the lender but rather by the closing attorney and is delivered to the borrower at the closing table. But since the HUD-1 is now included in the final Closing Disclosure, and the final Closing Disclosure is required to be provided to the consumer at least three business days prior to the closing, a new level of collaboration between lender and closing agents will be needed. By implementing a communication portal with secure messaging and document exchange, it will be much easier for a lender to streamline this collaborative process.

So the next time you deal with a consumer or business partner, maybe the first words out of your mouth should be “can we talk?

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New Vendors Get The Lenders One Endorsement

Lenders One was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the St. Louis-based platform originated more than $224 billion in mortgages in 2013; collectively ranking as one of the largest retail mortgage origination entities in the U.S. So, when the group names new technology vendors to its preferred list, it’s a big deal. The two most recent additions include:

To help its members respond to the changing digital preferences of homebuyers, Lenders One has added Easy Mortgage Apps and The Turning Point to its approved vendor list. The announcement was made to members at the recent biannual conference.

“We know homebuyers today are going online to research information about homes, home values and mortgage information,” said Jeff McGuiness, CEO of Lenders One. “The best-in-class technology solutions offered on our vendor platform enable our members to take advantage of the anytime, anywhere nature of the modern sales cycle.”

Easy Mortgage Apps allows loan officers to better serve consumers and real estate agents. With the private-label software, loan officers, borrowers and real estate agents can track an application status, communicate with all relevant parties and securely share time sensitive data from any mobile device. “Leveraging technology to make the home lending process more efficient and transparent is how we got started,” said Michael Kelleher, founder and executive vice president of Easy Mortgage Apps. “Our goal is to deliver a mobile-centric solution to minimize latency while improving efficiency and productivity, which aligns perfectly with the Lenders One mission.”

The Turning Point’s MACH3 is a robust marketing automation platform that digitally connects companies, loan officers, their clients and referral sources. The Turning Point’s compliant, easy-to-use, turnkey platform helps maximize the potential of loan officers and mortgage customers, delivering measurable improvements in sales and productivity.

“The Turning Point is delighted to help bring a holistic, compliant, technology-driven marketing solution to the Lenders One membership,” commented Brandon Perry, president of The Turning Point. “When applied in a thoughtful manner, data-driven marketing can have enormous impact on growth in any market cycle. We are delighted to offer our MACH3 platform and expertise to the membership of Lenders One.”

“With the increased prevalence of technology in our day-to-day lives, lenders must keep up and deliver content and services to clients in their preferred format,” McGuiness concluded. “Lenders One is committed to ensuring that the scope of our member benefits are relevant in every environment.”

Navigating The New Mortgage Maze

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JimMorinMany lenders are struggling as they try to reassess their business in the face of rising rates, new regulation and increased cost to originate. Finding the best way to navigate this maze of obstacles to get safely to the other side is surely a challenge, but it’s also the new reality.

As a full-service lender here at Norcom, we understand what our fellow lenders are going through. Regardless of what lies ahead, we at Norcom feel like we are well situated to succeed. How do I know that? From corporate philosophy, it all really boils down to our customers and being consumer-centric. Our corporate identity is based around our service levels. From our very beginning, our founder was an originator so we tout ourselves as an originating company built by originators.

What do I mean by that? Everything we do has the consumer and the originator at heart. We have a collaborative environment. We try to foster the relationships between the different departments and keep ourselves tightly knit as one big happy family. We feel that this strategy makes the decision-making process easier and cultivates partnerships within the building.

We have more of a horizontal hierarchy structure, rather than the traditional vertical structure.

As a company, we’re big enough to have access to sell into Fannie, Freddie and Ginnie, so we can operate and execute from a secondary perspective; yet we’re still small enough to be nimble and agile, thus maintaining our service levels, while remaining compliant. If we’re honest as lenders, in this day and age, compliance and technology dovetail together more than ever as a business imperative.

To this end, we take technology very seriously. Lenders that don’t do so act at their own peril. For example, we are now entering our second year with The Turning Point. The Turning Point is the mortgage industry’s most advanced marketing automation solutions that compliantly address every aspect of our lending business from prospect, to in-process, applicant, and closed loan marketing programs. We see our engagement with them as a core part of delivering on our philosophy of being a lender that is customer-centric.

We want everything we do to enhance the consumer experience, and at the same time, automate a lot of our processes. We are taking online applications, which automatically get pushed to our LOS system, which allows for documents to get drawn electronically.

Turning Point has really helped us at the back end of that process by automating our marketing process. For example, The Turning Point helps us with our five-year post-closing automated marketing campaign. We’re staying in contact with our borrowers for five years after their loan closes, and we’re actually in the process of deploying in-process marketing campaigns with videos to existing borrowers.

But the successful lender has to be about more than marketing campaigns and emails blasts. One of the reasons why we chose to go with The Turning Point and to use their award winning Mach3 system is compliance.

New rules and regulations are constantly being implemented, they are everywhere these days. And on the marketing side of every mortgage company’s operations, as much as any other, it means that our management has to take a much more active role in ensuring our brand and our products are correctly and compliantly represented in the marketplace. Communications with prospects, customers and even referral partners – whether driven from corporate or by our loan originators – must be controlled, but without inhibiting genuine creativity and individual initiative.

One of MACH3’s most distinctive features is that it establishes a controlled environment in which ingenuity and enterprise are able to flourish. It does this by providing our management with five levels of control over the players in the marketing process. All you have to do is decide what degree of control you want to exercise in relation to each of the system’s key functions. For example, you can make sure that Loan Officers are unable to edit company information or upload unacceptable graphics or run on-demand campaigns that breach corporate guidelines.

We have to make sure that every marketing piece that goes out is compliant. The Turning Point automates the marketing compliance process and does all the content management, as well. Through the system we are able to track open rates, and the actual content.

It’s funny that a lot of our lender peers are afraid of getting audited. We are not because we know that we have the technology from The Turning Point to prove that everything we do is compliant. How do I know that? We just had a regulator in our offices and they wanted to see all of the marketing pieces that we sent out in the last year. It was great to go into our The Turning Point’s Mach3 system, pull up the actual marketing pieces that went out, and just hand them over. Everything was fast, transparent and easily accessible, which made the audit almost a non-event.

Prior to using The Turning Point we had a marketing staff and they were just doing on-demand marketing. Since we started using The Turning Point, our marketing has all changed for the better. MACH3 enhances the Marketing Genius in our organization to drive business through increased efficiency with a custom company marketing library. Consistent, relevant communication can easily be sent to all our contacts companywide through each milestone in the loan process including the lead and post close stages.

But as any lender knows, it’s not just about marketing. We use Ellie Mae for our LOS.

In reality, between our front end website portal, we have a fully paperless automated system from start to finish. We have a client portal set up that allows the borrowers to go in and get real-time updates through a company called Lending Manager. We push messages back and forth; push documents back and forth, which then integrate with the LOS system. From there, within the LOS system, we’re pushing out automated updates to the borrowers and to the originators as they’re going through the process. Ellie Mae has been a wonderful partner because they seamlessly integrate to both The Turning Point and our website front end.

Our ownership, myself, and our compliance attorney are heavily involved with the MBA and spend a lot of time in D.C. going through these regulation changes. However, Ellie Mae certainly helps, especially with some of the lenders that may not be as tuned in to the compliance changes. In our case, Ellie Mae built out the QM and ATR functions that we employ.

Right now 85% of our business is purchase and first-time homebuyers are getting younger and younger, so we decided to go with yet another vendor to automate our front end. Our society in general is becoming much more comfortable and willing to take advantage of the Internet. People are more tech savvy. Today 79% of all of our online applications come outside the traditional business hours. Folks these days want to be able to do things at their convenience, in their own homes, at their own time, they’re on the fly, and they’re taking applications on iPads.

When we make these technology decisions, we have an IT department that presents options, or even some of the sales people will see or identify something that we should consider. So, basically someone comes up with an idea, sees it and then it gets presented to what we call our management staff that kick it around and make decisions. Any technology decision should be made collaboratively and have full buy-in from management.

For those remaining lenders that have opted not to automate, I think you better get started. The paperless mortgage is the future. We looked at several marketing vendors, LOS vendors and website vendors before making any decisions. Lenders need to be thorough in evaluating their options.

As we move more and more to a purchase market, we at Norcom are never going to get away from having a local presence. I think being in certain marketplaces is going to be important. However, the online channel is also booming. Borrowers are willing to shop online, buy things online, look at houses online, fill out mortgage applications online, etc.

If we put everything into perspective, if you look back just 10 years ago people wouldn’t even put their social security number online. Now we’re receiving hundreds of applications online everyday. Borrowers are filling out full 1003s online. As a society, we want instant gratification and technology helps us achieve that. In the end, you want to take advantage of the technology that’s available.

Bottom line, the next-generation lender needs to have the ability to be a dynamic thought leader. You have to have a willingness to continuously improve your processes. You have to be tenacious. More than anything, you have to be able to keep one eye on the present and one eye at the future at the same time. You have to be a forward thinker. You have to be willing to make change and change for the better.

Technology is a big part of what we do because it helps us fit all the pieces together. We have 25 years of lending experience. We have people here that have a lot of mortgage experience, yet we’re also young at heart. That inner youthfulness enables us to be dynamic. We are willing to embrace new technology. I think there are a lot of lenders out there that are still shying away from automation, but they shouldn’t. The new mortgage market is changing and the best lenders will change with the market.

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The Path To A Better Process

*The Path To A Better Process*
**By Tony Garritano**

finish***As the mortgage industry looks to improve its process, the need for tightly integrated systems and processes arises. Oftentimes this means leaning on a specialist to create the right level of seamlessness. For example, PROGRESS has learned that through a strategic partnership with TeraVerde Management Advisors (TVMA), a consulting and technology firm that specializes in system integrations for the financial services sector, The Turning Point’s MACH3 now delivers seamless integration to Ellie Mae’s LOS Encompass 360. Here’s the scoop:

****The integration offers seamless integration, end-to-end mortgage marketing automation, and extensive mortgage experience. Why is this important? While the pressure to produce remains a constant, the methods by which lenders can reach out to their prospects and customers have dramatically changed. In particular, lenders now find themselves in an environment where mortgage marketing attracts greater scrutiny than ever before, especially from the CFPB and other regulatory agencies.

****To respond to these market dynamics, The Turning Point’s MACH3 powers business performance along two key dimensions. First, MACH3 uniquely models the entire marketing process for converting opportunity into revenue. Second, MACH3’s collaborative environment leverages the expertise of all players in the process. These are two critical areas that the typical LOS does not excel in, which is why this integration is noteworthy.

****Through the efforts of TVMA, these two companies, Turning Point and Ellie Mae, are now linked for the betterment of their shared lender clients. TVMA operates two main divisions: mortgage banking and financial services support. The mortgage banking practice provides system, operational and information technology consulting to the mortgage banking industry. In short, the company provides strategic counsel for the financial services industry, including credit management, risk management, regulatory compliance and related advisory services.

A New Approach to SPOC

*A New Approach To SPOC*
*By Tony Garritano*

TonyG***I know that new regulation is tough. But some times it just takes a new approach to pave the way for both compliance and future success. For example, The Turning Point is working to deploy its MACH 3 system to support servicers in addressing SPOC requirements designed to drive permanent change to mortgage default and contact center operations by enhancing and better managing the relationship with the consumer. Here’s how:

****In a written statement found on his website, well-known industry analysts Craig Focardi, senior research director, CEB Tower Group, said “The genesis of SPOC was the poor customer support delinquent mortgagors experienced when applying for a loan modification or other form of loan forbearance. Despite the new requirement, some servicers have taken a short-term approach by only hiring new staff without building a scalable default management operation to support them.”    He went on to state “the new SPOC requirements – and mortgage servicing requirements introduced by Fannie Mae and Freddie Mac – are driving permanent changes to mortgage default and contact center operations that financial institutions need to make more efficient through increased technology investment.”

****The Turning Point rises to the challenge with MACH3: the mortgage industry’s only compliance-centric enterprise-level CRM and Marketing Automation platform. “Today, the servicing business has shifted and is now more about the relationship with the consumer than ever before”, stated Stephen Margrett, CEO of The Turning Point.  “We are excited about the opportunity to apply our deep expertise to improving the relationship servicers have with the consumer.”

****The Turning Point is a provider of “Intelligent Marketing Solutions” for the mortgage industry. The company has specialized in marketing technology for mortgage lenders since 1998, amassing an immense understanding of the nuances and challenges involved in sales lead management and maximizing the value of business relationships. Today, with mortgage marketing attracting greater scrutiny than ever before, lenders and servicers are faced with the need to enhance competitiveness and operational efficiency while staying legal. That’s where technology can help.

A Mortgage Family Reunion

*A Mortgage Family Reunion*
**By Tony Garritano**

***It gives me great pleasure to announce that one of our own is back. When I started PROGRESS in Lending I wanted to work with the greatest minds in this space. That’s why I called on Roger Gudobba, Michael Hammond, Kelly Purcell, Gabe Minton and later Steven Horne to join the cause. They all agreed. I also asked Michael Blair. He was a founding member, but he left the space. You know how that goes, you can’t get away from this industry for too long. I’m excited to report today that: You guessed it, he’s back. Here’s the scoop:

****Capco, a Global Financial Services Consultancy, has hired industry veteran Michael Blair as Principal Consultant of their technology services practice. This is a leading role in which he is expected to focus on helping financial organizations identify and solve their most critical information and technological challenges.

****Michael brings more than 15 years of wide-ranging experience to Capco’s growing practice. Michael recently served as Senior Vice President at Lender Support Systems (LSSI) and was the President and CEO of TrueClose, a company acquired by National Real Estate and Information Service. And Michael will be at our ENGAGE Event this Sunday. I hope you will, too.

****Capco is a global business and technology consultancy dedicated solely to the financial services industry. Capco helps clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. The company specializes in banking; capital markets; wealth and investment management; finance, risk & compliance; and technology.

****In other hiring news, The Turning Point has added two seasoned veterans to its staff, as well. First, Rick Newman joins in the role of Business Development Executive. Rick Newman has enjoyed a 30-year career in the title insurance, real estate, information technology and mortgage lending industries. He is respected as an innovator in mobilizing resources to exploit targeted business strategies. He has served at board and executive level in the areas of product development, contract negotiations, acquisitions and strategic alliances.

****Rick was the co-founder of Guardian Title Agency of Princeton, NJ and later formed Weichert Title Agency, an affiliated business of Weichert Realtors. He served as Vice President and President respectively until 1996, when he joined New Jersey Title (NJT). As Executive Vice President and a member of its board of directors, Rick was principally responsible for redirecting the company’s core business strategy from direct operations to an agency structure.

****Second, Ski Swiatkowski joins The Turning point in the role of Business Development Manager. “Ski” Swiatkowski is a veteran sales and business development specialist. He has invested much of the past 28 years in serving the real estate finance industry, first as a top producing sales executive and manager, then as a corporate executive and trainer.

****A passionate and entertaining speaker and trainer, Ski has had the opportunity to teach thousands of sales people and managers across the nation. As a faculty member of the National Association of Mortgage Brokers education department and through corporate training initiatives, he regularly appears at national and state trade conferences. His articles have been featured in many national mortgage industry publications.

****During his eight years as Vice President of Business Development for InterBay Funding (a subsidiary of BayView Financial) Ski and his team were a key factor in the company’s meteoric growth and amazing success story in the mortgage lending arena.