NAMB—The Association of Mortgage Professionals hosted its First Annual Wholesale Summit last week in Orlando, Fla. The event allowed NAMB leadership to sit down at the same table with representatives of more than a dozen of the nation’s top wholesale lenders and a compliance company to discuss how wholesale lenders can grow market share and explore marketing, compliance and profitability issues facing wholesalers and mortgage originators.
“We’re excited about the opportunity to pull all of you together to talk about the wholesale lending business and how we can increase things and do things a little bit differently,” NAMB CEO Donald Frommeyer, CRMS said as he opened the Summit. “It’s an exciting time. This is going to be a great effort. We hope to make this a joint effort to exact change.”
More than a dozen major wholesale lenders and a compliance company attended the event, including: Angel Oak Mortgage Solutions, B2R Finance, Carrington Mortgage Services, Franklin American Mortgage, Freedom Mortgage, HomeBridge Wholesale, Impac Mortgage Wholesale, Land Home Financial Services’ Wholesale Division, Lenders Compliance Group, New Penn Financial, Quicken Loans, REMN Wholesale, United Wholesale Mortgage, U.S. Bank and WholesaleOne.
“We wanted to open an extended conversation of common goals and concerns and that’s exactly what happened,” said NAMB President John Councilman, CMC, CRMS. “We set out to host a conversation about the kinds of meaningful changes that are very difficult if not impossible to have in most originator-to-lender dialogue. We accomplished that. Now, we have to continue with this dialogue.”
Frommeyer said the NAMB Wholesale Summit would not be a one-time event, but would bring attendees back together in some form every quarter to continue the work the group began last week. The next in-person meeting is currently scheduled to be concurrent with the NAMB National event in Las Vegas in October.
“This event definitely exceeded our expectations,” Frommeyer said. “The lenders that attended were thrilled with the outcome of this event. The networking opportunities offered by this event were unmatched. We offered them something they have been unable to get from other industry events.”
"The wholesale lenders that failed to attend the Summit missed this excellent opportunity to help form the future of wholesale lending,” said Councilman. “A strong foundation has been established, and hopefully those wholesale lenders that did not participate will recognize the value of this process and join future NAMB Wholesale Summit follow-ups. In addition, they missed out on the opportunity to share in the data obtained from an NAMB survey conducted with hundreds of loan originators and mortgage brokers. It provided invaluable information where these respondents want the future to be and what they expect from their wholesale lenders."
