The NMP Blog

News From NAMB: May 26, 2017

Submitted by John Councilman on May 26, 2017Top Story: Battle Over CFPB Existence Began Yesterday The CFPB and PHH are locked in a death spiral that can only end in one or even both sides taking a severe hit or even being killed off. PHH is showing huge losses so they could dissolve before this case is finished. The CFPB Director could be fired and a pro-business Director appointed as a result of the case. PHH is even calling for the... Read More

Training: The Secret to Helping Employees Learn a New Process

Submitted by David Lykken on May 23, 2017I'm a big fan of improving business processes. When I talk to leaders in the mortgage industry, it's one of the first subjects I bring up. How does your business process look? If I get a “deer-in-the-headlights” look from them when I ask this question, I know that's where we need to start. Creating a more robust and efficient business process can solve nearly every problem an organization... Read More

News From NAMB: May 18, 2017

Submitted by John Councilman on May 18, 2017Top Story
CFPB Goes After Zillow
The CFPB used to be buddies with Zillow. Just this year, the CFPB paid Zillow to find more information about the homebuying experience. Then, the CFPB started telling real estate agents that Zillow’s Premiere Agent program may be illegal. Now, Zillow reveals that the CFPB has been investigating them for RESPA violations for nearly two years.  The furor... Read More

The Importance of Planning in Your Business Process

Submitted by David Lykken on May 17, 2017When I consult with leaders in the mortgage industry, one of my key areas of focus is business processes. Determining who is responsible for what areas and how each step in the process feeds into the next is essential for building a functional organization. As I help leaders build flow charts to map out how their organizations can function most efficiently, I can sense the excitement building in... Read More

Appraiser Selection and Management

Submitted by Brandy George on May 12, 2017Question: If a lender utilizes an Appraisal Management Company (AMC) for the selection of an appraiser, is the lender still responsible for ensuring the appraiser holds an active state license or certification?   Answer
Yes. Lenders must ensure the state license or certification is active as of the date of the appraisal. The alignment with an AMC does not absolve the lender of the... Read More

News From NAMB: May 12, 2017

Submitted by John Councilman on May 12, 2017Top Story
Brian Montgomery to Be New FHA Commissioner The White House has signaled that it wants Brian Montgomery to run FHA again.  Montgomery served as FHA Commissioner under George W. Bush and for 6 months under Barack Obama.   His probable nomination is only being reported in Politico and won't be announced until he completes requisite background checks.  After leaving FHA, Montgomery... Read More

How to Keep Your Service Level Promises

Submitted by David Lykken on May 11, 2017When I'm coaching organizations through refining their business processes, we eventually get to the point where we have to tackle service level agreements. Once you've charted out your business process and you see how everything fits together, you can really start to iron out your priorities. What promises are you making, both internally and externally, and do you really have the resources to... Read More

News From NAMB: May 4, 2017

Submitted by John Councilman on May 04, 2017Top Story: Fannie Mae Changes Fast and Furious It’s hard to keep up with all of the changes Fannie Mae has implemented this year. We reported last week on Fannie’s new student loan policies. But there are a lot more. Non-mortgage debt can be excluded from ratios if it is paid for the past 12 months by someone else, except for the seller. The big change here is the person paying the debt doesn’t... Read More

How Long? Timing Your Business Processes

Submitted by David Lykken on May 02, 2017To build a successful organization, one of the most important things for a leader in the mortgage industry to do is business process mapping. You've got to outline how the different pieces of your organization fit together and how transitions are made throughout the process from loan origination to servicing. As I consult with the leaders in the business, I am continually amazed by how many... Read More

Five Ways to Find the Best Mortgage for Your Clients

Submitted by Jackie Roberson on May 02, 2017Mortgage professional wear a number of different hats during their day-to-day work. Some days they may feel like therapists or other days they may feel like a credit repair pro. However, the fact is that when you’re working with someone to find the best mortgage to suit their needs, there is a lot of personal attention that goes into it. You clients not only help provide your paycheck but you... Read More