The Learning Center

Our Learning Center ensures that every reader has a resource that helps them establish and maintain a competitive advantage, or leadership position. For instance, loan originators and brokers will have one-click access to resources that will help them increase their productivity. Search topics by category and keyword and generate free videos, webinars, white papers and other resources. If you would like to add your content to the learning center, please click here  or email Tim Murphy at [email protected].

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Santander Bank Teams Up with Rocket Mortgage to Provide Clients with Digitally Driven Home Loan Experience

Monday, 08 August 2022
Santander Bank Teams Up with Rocket Mortgage to Provide Clients with Digitally Driven Home Loan Experience

Rocket Mortgage, America’s largest mortgage lender and a part of Rocket Companies (NYSE: RKT), and Santander Bank, N.A. ("Santander Bank,” “Santander” or “the Bank”), one of the country’s leading retail and commercial banks, today announced Rocket Mortgage as the exclusive preferred mortgage provider for Santander Bank customers. Through this relationship, Santander’s clients will receive exclusive discounts and dedicated resources to help them achieve their dream of owning a home.

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OptifiNow Provides Wholesale Lender with a Holistic Solution for Successful CRM Utilization

Friday, 22 July 2022
OptifiNow Provides Wholesale Lender with a Holistic Solution for Successful CRM Utilization

Emporium TPO credits OptifiNow for providing both technology and ongoing daily maintenance support with their CRM implementation

SEAL BEACH, Calif. – OptifiNow announced today the successful implementation of their CRM and marketing automation platform with Frisco, Texas-based Emporium TPO to assist their sales and marketing operations. Emporium TPO chose OptifiNow because of their extensive experience with wholesale mortgage lending and the level of support they provide their clients. “We knew OptifiNow had an effective CRM, but their White Glove support allowed us to mobilize and scale our sales team faster than we expected,” said Christine Abrams, Emporium TPO Sales Manager.

Emporium TPO is a non-QM wholesale lender headed by mortgage banking veterans Steve Nadon and Daniel Goodwin. The lender has goals to grow quickly by hiring the right people and using technology that is functional but cost-effective. “We chose OptifiNow because they are not like other CRM vendors,” said Abrams. “Every part of our process was mapped and configured into OptifiNow by their staff. They handled everything. We interact with OptifiNow as if they are an internal team.”

OptifiNow manages Emporium TPO’s CRM platform daily, meeting with the lender weekly to provide status updates and gather feedback. “This is what we call White Glove support,” said John McGee, CEO of OptifiNow. “We manage data uploads, user configuration changes, training, technical support and anything else our clients need. Why hire internal resources when OptifiNow includes maintenance services with the CRM? The result is faster implementation, better user adoption and improved productivity at a lower total cost of ownership.”

A major value-add is OptifiNow’s ability to create ultra-efficient sales workflows with custom integrations to Emporium TPO’s loan origination system (LOS), VOIP phone system and pricing engine. “We want to make it as easy as possible for our Account Executives to reach out to brokers and promote our loan products,” said Abrams. “OptifiNow integrated all of our sales and marketing tools into one system, unifying the processes and the data we need to perform at a high level.”

Building a wholesale lending operation is difficult, but Emporium TPO is grateful they have a good partner for their sales and marketing. “OptifiNow is so much more than just CRM software,” said Abrams. “We rely on them to keep our sales operations running smoothly and help execute our marketing campaigns. We are happy we made the decision to partner with OptifiNow.”

About OptifiNow

OptifiNow is a cloud-based provider of customized sales management and marketing automation software. OptifiNow’s platform consists of multiple modules that are fully integrated to provide companies with a configurable solution that adapts to virtually any type of sales environment, from high volume call center operations to face-to-face sales engagements. OptifiNow delivers their solutions using a unique White Glove service model that significantly reduces implementation time, lowers the cost of maintenance and increases user adoption. Visit www.optifinow.com or call (888) 746-6743 to learn more.

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Share of Mortgage Loans in Forbearance Decreases to 0.94% in April

Tuesday, 17 May 2022
Share of Mortgage Loans in Forbearance Decreases to 0.94% in April

WASHINGTON, D.C. (May 16, 2022) – The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 11 basis points from 1.05% of servicers’ portfolio volume in the prior month to 0.94% as of April 30, 2022. According to MBA’s estimate, 470,000 homeowners are in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance decreased 6 basis points to 0.43%. Ginnie Mae loans in forbearance decreased 9 basis points to 1.29%, and the forbearance share for portfolio loans and private-label securities (PLS) declined 29 basis points to 2.15%.

“With the number of borrowers in forbearance decreasing to less than half a million, the pace of monthly forbearance exits reached its lowest level since MBA started tracking exits in June 2020,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “Servicers are expected to continue making small incremental inroads to the remaining loans in forbearance.”

In addition to improvement in the overall forbearance rate, the percentage of borrowers who were current on their mortgage payments increased to the highest level of 2022, despite potential headwinds such as high inflation and stock market volatility.

Added Walsh, “The best indicator of loan performance is overall national employment. The U.S. unemployment rate is still below 4 percent, leaving borrowers in a good position to make their monthly mortgage payments.”

 

Key findings of MBA's Loan Monitoring Survey – April 1 to April 30, 2022:

  • Total loans in forbearance decreased by 11 basis points in April 2022 relative to March 2022: from 1.05% to 0.94%.
  • By investor type, the share of Ginnie Mae loans in forbearance decreased relative to the prior month: from 1.38% to 1.29%.
  • The share of Fannie Mae and Freddie Mac loans in forbearance decreased relative to the prior month: from 0.49% to 0.43%.
  • The share of other loans (e.g., portfolio and PLS loans) in forbearance decreased relative to the prior month: from 2.44% to 2.15%.
  • Loans in forbearance as a share of servicing portfolio volume (#) as of April 30, 2022:
  • Total: 0.94% (previous month: 1.05%)
  • Independent Mortgage Banks (IMBs): 1.17% (previous month: 1.29%)
  • Depositories: 0.74% (previous month: 0.86%)
  • By stage, 28.9% of total loans in forbearance are in the initial forbearance plan stage, while 58.1% are in a forbearance extension. The remaining 13.0% are forbearance re-entries, including re-entries with extensions.
  • Of the cumulative forbearance exits for the period from June 1, 2020, through April 30, 2022, at the time of forbearance exit:
  • 29.3% resulted in a loan deferral/partial claim.
  • 18.8% represented borrowers who continued to make their monthly payments during their forbearance period.
  • 17.0% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.
  • 15.6% resulted in a loan modification or trial loan modification.
  • 11.3% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.
  • 6.7% resulted in loans paid off through either a refinance or by selling the home.
  • The remaining 1.3% resulted in repayment plans, short sales, deed-in-lieus or other reasons.
  • Total loans serviced that were current (not delinquent or in foreclosure) as a percent of servicing portfolio volume (#) rose to 95.64% in April 2022 from 95.47% in March 2022 (on a non-seasonally adjusted basis).
  • The five states with the highest share of loans that were current as a percent of servicing portfolio: Idaho, Washington, Colorado, Utah, and Oregon.
  • The five states with the lowest share of loans that were current as a percent of servicing portfolio: Louisiana, Mississippi, West Virginia, New York, and Oklahoma.
  • Total completed loan workouts from 2020 and onward (repayment plans, loan deferrals/partial claims, loan modifications) that were current as a percent of total completed workouts declined to 82.99% last month from 83.67% in March.

MBA’s monthly Loan Monitoring Survey (replaced MBA’s Weekly Forbearance and Call Volume Survey in November 2021) covers the period from April 1 through April 30, 2022, and represents 72% of the first-mortgage servicing market (36.2 million loans). To subscribe to the full report, go to www.mba.org/loanmonitoring.

NOTES: The next publication of the Monthly Loan Monitoring Survey (LMS) will be released on Tuesday, June 21, 2022, at 4:00 p.m. ET. For more detailed information on performance metrics, including seasonally adjusted delinquency rates by stage (30 days, 60 days, 90+ days), please refer to MBA’s Quarterly National Delinquency Survey at www.mba.org/nds.
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