The Pulse

The National Association of Hispanic Real Estate Professionals (NAHREP) has announced the installation of Leo Pareja as its 2017 national president and Daisy Lopez-Cid as president-elect
The National Association of Hispanic Real Estate Professionals (NAHREP) has announced the installation of Leo Pareja as its 2017 national president and Daisy Lopez-Cid as president-elect. Prior to their new leadership roles, Pareja served as 2016 president-elect and Lopez-Cid was a two-term member of the national board.
 
Pareja has been in the real estate industry since 2002, and has been recognized as one of the top producing agents in the world. Pareja's company was ranked as the number five team in the country by the Wall Street Journal in 2011, and he was the "#1 Agent" among NAHREP's Top 250 Latino Agents in 2013. Pareja is currently CEO of the software company, Remine.
 
"Leo Pareja is a world-class talent and one of the best young leaders in the entire industry," said NAHREP 2016 President Joseph Nery. "I am confident that under Leo's leadership, 2017 will be a transformational year for NAHREP."
 
Gary Acosta, co-founder and CEO of NAHREP, said, “Daisy Lopez-Cid is one of the most loyal and hardworking leaders anywhere in the country. She has been instrumental in the creation and development of the NAHREP Coaches Program and her leadership helped forge the path for a successful chapter expansion in 2016."
 
The complete 2017 NAHREP board of directors and leadership team are:
 
►Leo Pareja NAHREP President
►Daisy Lopez-Cid NAHREP President-Elect
►Gary Acosta Co-Founder & CEO
►Joseph Nery Immediate Past President
►Marisa Calderon Executive Director, Ex-Officio
 
►Armando Falcon Director
►Danny Hernandez Director
►Rich Hernandez Director
►Juan Martinez Director
►Liza Mendez Director
►David Acosta Director
►Luis Padilla Director
►Helen Hernandez Archer Director
►Pamela Valenciano Director
►Gerardo “Jerry” Ascencio Director
►Joe Castillo Director

 
Comergence has added Don Scales as manager of its Business Development team, bringing more than 11 years of mortgage industry experience and 25 years as a sales professional
Comergence has added Don Scales as manager of its Business Development team, bringing more than 11 years of mortgage industry experience and 25 years as a sales professional. Scales will be responsible for the education and Comergence has added Don Scales as manager of its Business Development team, bringing more than 11 years of mortgage industry experience and 25 years as a sales professionalacquisition of mortgage lenders and originators nationwide on new and existing services and solutions, including Comergence Concierge, Appraiser Panel Manager Plus and Social Media Audits and Monitoring.
 
“Don’s background in technology sales and a deep understanding of data based solutions will allow him to articulate the usability of the plethora of solutions that Comergence now offers,” said Greg Schroeder, president of Comergence. “His enthusiasm and quest to evolve the client experience will help fuel our continued growth.”
 
Prior to joining Comergence, Scales was the account executive in business development, Compliance Services with Ellie Mae, responsible for the solicitation and onboarding of their standalone Mavent Compliance service. Before that, he spent the better part of a decade as director of sales, Compliance and Third-Party Services at First American/Interthinx.
NAMB+ Inc., the for-profit marketing and communications subsidiary of NAMB—The Association of Mortgage Professionals, has announced its latest Endorsed Provider, digital mortgage platform MortgageHippo
NAMB+ Inc., the for-profit marketing and communications subsidiary of NAMB—The Association of Mortgage Professionals, has announced its latest Endorsed Provider, digital mortgage platform MortgageHippoNAMB+ Inc., the for-profit marketing and communications subsidiary of NAMB—The Association of Mortgage Professionals, has announced its latest Endorsed Provider, digital mortgage platform MortgageHippo.
 
MortgageHippo allows loan originators of all sizes to deliver a modern borrowing experience, improving borrower conversions, while reducing origination costs through automation and standardization. MortgageHippo was designed to bring both transparency and efficiency to the home loan process, through the searching of and comparison of loans, completion of the mortgage application, through the final closing of the loan.
 
“In today’s fast-paced, high-tech world, mortgage originators need to stay ahead of this technological curve,” said Nathan S. Pierce, president of NAMB+. “MortgageHippo provides mortgage professionals with that advantage, and by utilizing MortgageHippo as an NAMB+ Endorsed Provider, they can remain ahead of the pack.”
 
NAMB+ connects NAMB members with an array of Endorsed Providers aimed at helping mortgage professionals gain a competitive advantage in today’s marketplace with discounts and special programs only available to NAMB members. NAMB+ brings everything from compliance, credit reports, lead generation, phone services, social media, custom canvas prints and much more to NAMB members as part of the NAMB+ program.
 
“Digital innovation is transforming the way consumers get a mortgage and making the process more seamless and efficient for all parties,” said Valentin Saportas Esq., chief executive officer of MortgageHippo. “Loan originators of all sizes have the opportunity to leverage digital technologies to be more successful than ever before. We are very excited to be chosen by NAMB+ as an Endorsed Provider to bring modern, digital mortgage technology to NAMB members."
Lenders Compliance Group (LCG), a nationwide risk management and compliance support firm, has announced the establishment of Servicers Compliance Group
Lenders Compliance Group (LCG), a nationwide risk management and compliance support firm, has announced the establishment of Servicers Compliance Group, a new practice area devoted to mortgage servicing compliance.
 
The unique feature of the new practice area is its concentration on interacting with clients on a monthly basis, continual compliance maintenance, and fulfillment of compliance management system requirements. Additionally, this practice area offers a full range of project initiatives involving audits, due diligence, risk assessments, subject matter expertise, "mock" regulatory examinations, assistance as "first responders" for those institutions that may be experiencing negative actions from regulators, and support with business start-up for servicing.
 
Servicers Compliance Group has appointed Michelle Leigh, CRCM, MBA, as executive director and Michael Pfeifer Esq. as director. Together, they will offer regulatory compliance support for providers of residential mortgage servicing, subservicing and master-servicing. Both Leigh and Pfeifer will also continue to hold their current positions at Lenders Compliance Group, respectively, as director of Internal Audits and Controls, and director of Legal & Regulatory Compliance.
 
"We provide guidance, audits, due diligence reviews, and examination preparation for transactional matters involving residential mortgage servicing,” said Leigh. “In addition, we also assist clients with proactive and remedial efforts to enhance servicing compliance policies, procedures, practices and internal controls, including risk assessments and preparation and review of policies and procedures."
 
Jonathan Foxx, PhD, MBA, President and Managing Director of Lenders Compliance Group and Servicers Compliance Group, said, "Michelle is a uniquely informed professional, with a wide range of knowledge, experience, and expertise in virtually all areas of mortgage banking compliance. Throughout her career, Michelle has supported leading banks and non-banks in the industry at executive levels. She has worked with every regulator within the mortgage industry, both state and federal. In the majority of her appointments, she has managed the exam management areas of such institutions and has one of the highest track rates in volume, having worked with the CFPB in an exam management role to date and, specifically, within the mortgage servicing compliance area. Her career and credentialed background provide exceptional perspective on how to establish and maintain the most effective compliance mandates in mortgage servicing. Michelle is a true leader in our profession and will be an invaluable asset to the clients of Servicers Compliance Group."
 
Pfeifer is currently counsel to the California Mortgage Bankers Association, having served on its board of Directors for nine years, and has nearly 40 years of experience in representing both bank and non-bank lenders, mortgage servicers, investors and industry service providers. He will support the firm's clients, consulting on their regulatory compliance needs.
 
"With all the changes that have occurred in the mortgage industry in recent years, I am excited to join this new practice area,” said Pfeifer. “We understand that mortgage servicers must have access to experienced, but also independent expert guidance. Servicers Compliance Group offers compliance solutions for those who seek value, but refuse to compromise on the quality of their compliance programs."
 
According to Foxx, the decision to team up Leigh with Pfeifer was based on an enduring commitment to offer the very best compliance support in the country to mortgage servicers.
 
"Michael is a highly experienced legal professional within the mortgage industry, having distinguished himself as a stalwart representative of his clients facing government scrutiny,” said Foxx. “His career involves nearly all aspects of the mortgage industry, giving him an exceptional perspective on how to establish and maintain the most effective servicing compliance programs. He is a well-known authority on mortgage banking and mortgage servicing compliance, a frequent speaker at numerous industry conferences, and the author of numerous articles, including articles involving servicing management."
 
The Mortgage Industry Standards Maintenance Organization (MISMO) has announced that it is seeking participants to create a new Mortgage Industry Business Glossary
The Mortgage Industry Standards Maintenance Organization (MISMO) has announced that it is seeking participants to create a new Mortgage Industry Business GlossaryThe Mortgage Industry Standards Maintenance Organization (MISMO) has announced that it is seeking participants to create a new Mortgage Industry Business Glossary. The MISMO Glossary will reflect all processes in the mortgage industry, from initial borrower queries to loan payoff, and all events in between, including the provision of services by vendors to regulatory reporting. The Glossary will be oriented towards business professionals, avoiding technical jargon except where absolutely necessary. To ensure the success of this effort, MISMO is seeking professionals from across the mortgage industry to assist with this important effort.
 
“The MISMO standard and the new Business Glossary are created by volunteers through a collaborative process,” said Joshua Weinberg, executive vice president of First Choice Loan Services Inc. “However, once the standard is published, its use becomes compulsory, because it is baked into regulation, business processes and the technology that supports them. If you’re interested in the future of our industry and committed to making it better, this is the time to participate and get involved in building solutions that will help shape the direction and path we take.”
 
Like other glossaries, the MISMO Business Glossary will include terms, definitions and allowable values. There is significant value in understanding how and where data is used across the industry. This additional knowledge can influence the design of business processes, the creation of new business opportunities, and more. The MISMO Business Glossary will document common business processes, business events, calculations, documents, forms and more. The inclusion of this information will enable business and technology professionals to create views of various business processes, the data that is used or produced by the processes, and dictionaries of terms that are used within a process.
 
“Over the years, the industry’s brightest minds have collaborated under MISMO to create standards that have made the mortgage process more productive and consumer friendly. While existing MISMO standards have greatly improved business to business technology communications, their (often necessary) complexity has made it difficult for non-technical industry participants (i.e. business users) to understand and utilize the standards” said Rick Hill, EVP of MISMO. “When complete, the new business glossary is expected to make it easier for lenders and other mortgage organizations to leverage MISMO standards as well as MISMO products and collateral to fulfill their unique business needs and goals.”
 
Individuals interested in participating in this collaborative, industry-wide effort, should send an email with the subject line “Join MISMO’s Business Glossary Workgroup” to Info@MISMO.org by Friday, April 14, 2017.
Supreme Lending has expanded its footprint in “Green Country,” Oklahoma with two new branches, one in Tulsa, the other in Pryor, Okla.
Supreme Lending has expanded its footprint in “Green Country,” Oklahoma with two new branches, one in Tulsa, the other in Pryor, Okla. Industry veteran Patrick Chicklinski has been selected to manage both branches.
 
Chicklinski, who has strong knowledge of new construction lending, brings more than 15 years of mortgage origination experience, that includes Fannie Mae, Freddie Mac, FHA, non-conforming and jumbo products. Together, the two branches staff a team of five people with a combined total of more than 35 years of experience transacting purchase and refinances loans for experienced and first-time homebuyers. Kristen Martin, loan originator in the Pryor branch, has 20-plus years of success originating and closing VA and USDA financing. Chicklinski evaluated several mortgage lenders prior to joining Supreme Lending. He cites the company’s marketing support, technology, fast decisioning and family-style corporate culture as the primary reasons for choosing Supreme Lending.
 
“Supreme’s automatic messaging and custom marketing products are far beyond what any other lender provides,” said Chicklinski. “At Supreme, I can put my time and energy where it’s needed most—on helping my customers make the best decisions on their mortgages.”
 
The branches, which opened in late January 2017, plan to grow their presence by adding 10 to 15 loan officers over the next 12 to 18 months. 
Castle & Cooke Mortgage has announced that Adam Thorpe, the company's president and chief operating officer, has been appointed to Fannie Mae's Single-Family Risk Advisory Board
Castle & Cooke Mortgage has announced that Adam Thorpe, the company's president and chief operating officer, has been appointed to Fannie Mae's Single-Family Risk Advisory BoardCastle & Cooke Mortgage has announced that Adam Thorpe, the company's president and chief operating officer, has been appointed to Fannie Mae's Single-Family Risk Advisory Board. The Risk Advisory Board (RAB) helps shape the credit policies of Fannie Mae, and provides input on process enhancements and the GSE's Selling Guide. The RAB is comprised of 18 senior risk executives from lenders around the country, who serve a minimum term of one year.
 
A licensed attorney with more than 15 years of legal experience, Thorpe joined Castle & Cooke Mortgage in 2013 as the company's senior vice president and chief risk officer. He currently oversees the company's corporate operations and loan production, as well as its relationships with investors, agencies, warehouse lenders and state and federal regulators.
 
"Given the important role Fannie Mae plays in our housing economy, this appointment is a real honor," Thorpe said. "I look forward to sharing my insights with other board members and working together to address important industry challenges."
American Financial Resources (AFR) has grown to become a major nationwide retail, wholesale and correspondent lender, funding over $3.5 billion in the past year alone
American Financial Resources (AFR) has grown to become a major nationwide retail, wholesale and correspondent lender, funding over $3.5 billion in the past year alone.
 
The year 2017 marks the 20th anniversary for AFR, a family business dedicated to helping other families realize their dreams of homeownership. AFR is a two-generation family business, founded by Corey Dubnoff. AFR is now also home to his father Richard, the company’s chief executive officer, and brother Scott, AFR’s VP of information systems.
 
AFR is so focused on family that they refer to all loans by the name of the family obtaining the financing, instead of referring to a transaction as a loan number or a borrower, referring to it as the “SMITH FAMILY.”
 
AFR has evolved into a company with more than 500 employees nationwide, and is a leading wholesale, correspondent and retail mortgage originator, and servicer of residential mortgage loans.
 
AFR is split into two divisions, servicing the consumer and wholesale sectors. AFR’s retail division originates loans under its eLEND brand, has residential mortgage banking licenses in all 50 states, and works under the specific focus of empowering consumers to make informed decisions through education about the mortgage process. While AFR Wholesale, 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.
Matic Insurance Services Inc., a digital homeowner's insurance agency, has partnered with Maxwell, a provider of digital mortgage software
Matic Insurance Services Inc., a digital homeowner's insurance agency, has partnered with Maxwell, a provider of digital mortgage software. Matic's network of nationally A+ rated insurance carriers enables borrowers to find a customized homeowners insurance policy with just a few clicks on their desktop or mobile device. Under an agreement between both companies, Maxwell will integrate Matic's homeowner's insurance software into its platform, allowing borrowers to receive customized homeowner's policy options in seconds and helping Maxwell's clients close loans faster.
 
"At Maxwell, our aim is to make every interaction between loan officers and their homebuyers a delight," said John Paasonen, Maxwell's CEO. "As we continue to transform the way loan officers work with homebuyers, we are pleased to join forces with Matic, an innovative company that is equally focused on simplifying the home buying process. Together we're streamlining a friction point we hear about far too often-homeowners insurance. "
 
Maxwell revolutionizes the way that mortgage lenders work with their clients to close a mortgage, from the loan application to assembling a borrower's file. Lending teams on Maxwell collaborate with homebuyers in a modern digital workspace, on any device, with connectivity to thousands of data sources. Leveraging connectivity, like Matic Insurance Services, Maxwell reports that loans on its platform close 22 days faster than the industry average.
 
"Today's mortgage borrowers are looking for a convenient, paperless mortgage experience that companies like Maxwell deliver," said Aaron Schiff, co-founder and CEO of Matic Insurance. "With our technology working behind the scenes, lenders and mortgage professionals using the Maxwell platform can rest assured their customers will get the best, most affordable, and most appropriate homeowners coverage within seconds."
Angel Oak Capital Advisors LLC has announced that it has completed AOMT 2017-1
Angel Oak Capital Advisors LLC has announced that it has completed AOMT 2017-1, a $146.4 million securitization rated by both the Fitch and DBRS rating agencies.
 
This transaction, backed by non-qualified mortgages (non-QM), marks Angel Oak’s third securitization since 2015, accounting for more than $430 million in total securitized assets. All three securitizations are backed by mortgages originated through the firm’s two affiliated residential mortgage lenders–Angel Oak Mortgage Solutions LLC (wholesale) and Angel Oak Home Loans LLC (retail).
 
“This securitization is a true cross-section representation of the Angel Oak mortgage company’s production,” said Mike Fierman, co-CEO of Angel Oak Capital Advisors. “We are able to show that we can finance and securitize our production through the coordinated efforts of our affiliated companies. Having the capability to securitize our originated mortgages shows that the broad market has accepted what we do.”
 
Angel Oak’s loan production reached an all-time high in 2016 of more than $1 billion from loans originating in 33 states.
 
“Angel Oak will continue to be a leader in non-QM space because of our highly selective securitization parameters,” Fierman said. “Thanks to new regulations that have strengthened this market, the quality of collateral today is very different than in previous years. We’re committed to the continued revitalization of this market by providing high quality securitizations to meet investor demand.”