Apr. 26: Marketing, LO jobs; tech, non-QM products; HFA/DPA news; training & events; TBA trading tool

M&A is rampant, big and small, and is expected to continue throughout 2019. There’s a constant stream of individual branch or small company moves, but the latest headline-grabbing news came from a majority stake in Canada’s Lendesk being purchased by Rock Holdings, the parent company of Quicken Loans. Lendesk is provides technology to “connect mortgage brokers with the country’s top lenders.” Lendesk will continue to operate independently from its Vancouver headquarters. Recall that in 2017 Rock Holdings, via sub Rocket Homes, purchased Toronto-based OpenHouse Realty, specializing in the development of proprietary home and real estate agent search technology.


Are you looking to grow your Mortgage business in 2019? Now is the time to join a company that is rapidly growing! Over the past 25+ years, First World Mortgage has extended its footprint throughout Connecticut and Massachusetts with eight convenient branches. “We are a locally owned and operated company with full in-house Underwriting and Operations team. First World Mortgage is ranked the #1 First Time Homebuyer in Connecticut and has been nominated as one of the Top Work Places by The Hartford Courant for the last 6 consecutive years! We are currently looking for motivated, experienced Mortgage Loan Officers to join the First World Mortgage family and looking to build offices around the right teams. We offer a Full-Service Marketing Department and Business Development Team that will help you build your business and referral partner relationships. Come experience the difference!” Contact VP of Business Development Lana Ochs.

AmeriFirst Financial Inc. is proud to announce Tim Walsh has joined the Senior Executive Management Team. Tim will serve as the Chief Production Officer on the Corporate Leadership team. Tim served as the President of Affinity Lending at Finance of America and has established and grown some of the industry’s most successful operating entities serving clients in mortgage origination, servicing, loss mitigation and foreclosure trust services. He joined Finance of America Holdings from Ditech, a national direct lender where Mr. Walsh served as S. VP/Divisional Manager and Head of Affinity Relations, and previously as President and CEO of United Tech Lender Services, a nationally recognized default management company, where he was responsible for building the organization from inception to dramatic growth. Tim attended Waldorf University and Texas Lutheran University and received accreditation from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School. To learn more about opportunities and the exciting, energetic culture at AmeriFirst Financial Inc. please contact Renee Zabel.

Calyx Software is expanding its high-impact customer training and marketing teams. Join this established, forward-thinking industry leader. Calyx is currently seeking two associates for its Professional Services Group (PSG). Responsibilities include online and onsite client training, creating and implementing training material, as well as educating clients on industry best practices. Must have 10 or more years of experience in the mortgage industry (NMLS licensed). In addition, the company is looking for a brand marketing manager. Reporting directly to the Marketing Director, this individual will develop, execute, and manage internal and external marketing plans to meet organizational objectives, drive new sales opportunities, and support active usage of company products. Must have five years of marketing experience, with a background in the mortgage industry preferred. All three positions are based in Dallas, TX. Email your resume to SAMO@Calyxsoftware.com.

Caliber Home Loans, Inc. has over 1,400 Loan Consultants across the country, who are some of the Best & Brightest producers in the industry! “Each and every one has their own reasons for joining Caliber. Branch Manager Chris Washburn, for example, has three reasons he chose Caliber – technology, distributed operations and direct lending. In the Midwest, Caliber recently added Sales Manager Jack Shotbolt to the ranks of its best and brightest. His Divisional Vice President John Montgomery said, “We’re excited to have Jack join us as he brings strong credentials that will assist us in our growth throughout the Midwest. We look forward to growing in new markets where Jack has great relationships.” To view more testimonials from Caliber employees, click here. Caliber is looking for the best, brightest and most passionate producers in the mortgage industry to join us. To learn more about Caliber, contact Jeremy DeRosa or visit www.joincalibernow.com.”

A $2.8B mortgage bank headquartered in the Southwest is looking for a Vice President of Marketing. Ranked among the Top 50 Lenders in the United States and one of the Best Places to Work in the Southwest, with an exceptional corporate culture, dedicated to giving back to the communities it serves. Candidates will have 7 to 10 years of solid marketing management experience, with at least 3 years in the mortgage industry. Must have a strong marketing through branding background, along with success in implementing state of the art marketing platforms.  The ideal candidate will have experience managing an advertising budget of over $4 million, driving proven, measurable results. The compensation range is $140,000 to 180,000, including base + bonus.  Must be willing to relocate to Southern Arizona. If you are ready to work for a dynamic and growth-minded mortgage lender, please send your resumes to Anjelica Nixt.

Lender products and services

The leader in non-QM Angel Oak Mortgage Solutions is on the road again in May. Representatives will be speaking at the Chicago Mortgage Originators Expo on the 2nd, the CA Mortgage Expo on the 9th and the Suncoast Mortgage Expo on the 21st. We’ll be exhibiting at the Greater Sacramento CAMP Chapter tradeshow on the 1st and the Mid-Atlantic Regional Conference on the 13th. You can find us on the golf course at the FAMP SW Chapter Annual and The MBA of South Florida golf tournaments on the 3rd and the MAMP Annual Charity Golf Tournament on the 21st. And course, we’ll be in NYC for the MBA National Secondary Conference. If you’d like schedule time to discuss how we can help you grow your business using non-QM at any of these events, contact your Account Executive.

Floify is determined help you create a seamless mortgage experience your borrowers will absolutely love! Floify’s deeply customizable point-of-sale solution combined with their massive suite of integrations you’re likely already using, can provide your borrowers with total transparency, easy access to their loan file, and empower them to be proactive throughout their loan process. Imagine not having to answer mundane borrower questions, like “What interest rate did I quality for?”, “When is the inspection?” or, “How much did the home appraise for?” Now all of this info can be easily accessed by your borrowers from one location with a single sign-on using Floify. And when you provide this level of convenience, you will not only enhance your borrowers’ satisfaction, but also save your team’s phones and emails from eager borrowers wondering how their loan is progressing. To see the seamless mortgage experience Floify can help you deliver, request a demo!

HFA & DPA mania

Questions on HUD’s latest changes on DPA program requirements? Check out TMS’ latest DPAssistant Update to help find DPA programs that follow the latest requirements regarding program jurisdiction. It’s so great to have a handy list of over 125 DPA programs across the country. Find the list here.

Registration is now open for the 2019 NALHFA Annual Conference, held May 15-18, at the Hilton Denver City Center in Denver, CO. View all the conference details on the website. Go scope out some CRA opportunities.

Yesterday the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2019-07, which announced an extension of the effective date of ML 2019-06, Downpayment Assistance and Operating in a Governmental Capacity. This ML was originally published and communicated via FHA INFO 2019-11 on April 18, 2019. “The guidance provided in ML 2019-06 will be effective for case numbers assigned on or after July 23, 2019, rather than the originally published effective date of April 18, 2019.”

US Bank Home Mortgage published Seller Guide 2019-003 with HFA Reminders and Clarifications.

US Bank Correspondent has updated and clarified its HFA overlay matrix: topics and corresponding sections of HFA division lending guide, credit, manual underwriting, manufactured homes, manufactured homes limited POA and special levied assessment.

U.S. Bank Correspondent/HFA provided information on Detached Structures: Best Practices for Loans in Flood Zones A or V.

Land Home Financial Services offers CalHFA Down Payment Assistance. For additional information, email Mark.Sheridan@LHFS.com.

As announced in CalHFA Program Bulletin #2018-16, CalHFA is requiring the use of the newest CalHFA Borrower Affidavit and Certification. The CalHFA Borrower Affidavit and Certification is simpler and contains fewer boxes to check. A fillable version of the affidavit is available on the CalHFA Forms webpage. Borrower(s) may sign the form electronically.

Trainings and Events into early May

Fannie Mae is offering a New Bankruptcy and Foreclosure training module.

Register for a free webinar Renovation 101 presented by Land Home Financial on April 25th at 11:00 PDT.

Are you a CRA wiz? Here’s a webinar on the future of the program.

Join the OMBA, May 13-15, 2019 for the OMBA Annual Convention, “Journey To the Top”, at the Columbus Marriott NW in Dublin, Ohio.

Get expert insight on Supreme Court dynamics with MBA’s Legal Issues and Regulatory Compliance Conference May 5th-8th. Register now.

Registration is currently open for FHA’s free, on-site training in the San Juan Field Office on Tuesday, May 7th. This training will provide an overview of FHA underwriting procedures and address a number of industry-related frequently asked questions as outlined in FHA’s Single-Family Housing Policy Handbook 4000.1.

On May 8th, FHA is offering a free, on-site Underwriting Workshop in San Juan. This instructor-led, on-site training will focus on a hands-on training in which underwriters will apply the 4000.1 handbook to fictional scenarios. Scenarios include Rate and Term refinance, Cash Out, refinance, Simple Refinance and Purchase transactions.

On May 9th in San Juan, FHA is offering its free on-site Appraisal Training. The training will cover FHA appraisal requirements, including appraisal protocols and updates to appraisal policy as outlined in the Single-Family Housing Policy Handbook 4000.1. Advanced registration is required by May 3rd.

The Mid-Atlantic Regional Conference, May 13-15, is calling all exhibitors to the MGM/National Harbor, May 13th-15th. The MBA/MW and MMBBA have joined together for this regional mortgage conference with over 400 local mortgage professionals already registered, but there’s still time to become a premier exhibitor. Mortgage professionals in Maryland, DC, Virginia and the greater Mid-Atlantic area are invited to hear from the best and brightest minds in mortgage banking today as they share their outlook and strategies on how to navigate through this ever-changing environment. Seating is filling up fast! Register at marcmba.org today while you still can. Check out the current agenda.

On May 14th, join Secure Insight for its quarterly free webinar Fighting Wire Fraud: Latest Tips. Email Amanda for registration apadd@secureinsight.com

Join the OMBA on May 13th-15th for the OMBA Annual Convention: “Journey To the Top”, at the Columbus Marriott NW in Dublin, Ohio. Including 8 hours of continuing education for non-bank lenders, there will be sessions on topics such as eNotes & Mortgages, Compliance & Regulatory Hot Buttons, Foreclosure Legislation & Litigation, Wire Fraud Risks in Today’s Market and much more.

Capital markets

MCT will unveil a digital TBA trading tool in a client-exclusive webinar on May 9th. Dubbed Trade Auction Manager (TAM), the browser-based software facilitates the bidding and exchange of TBA mortgage-backed securities used by lenders to hedge their open mortgage pipelines. Following in the footsteps of MCT’s BAM whole loan trading platform, TAM digitizes a formerly phone-based manual process. Regional broker-dealers compete for a higher volume of trade requests via browser or API, while lenders gain in efficiency and profitability thanks to expansion and automation of the competitive process. “TAM is changing the paradigm for the mid-size lender, increasing liquidity and transparency while connecting them digitally with their regional dealers for the first time,” said Phil Rasori, COO. TAM is included for MCT’s pipeline hedging clients, while a stand-alone offering is expected in May. Clients may contact their representative for webinar registration; interested parties are encouraged to subscribe for TAM updates.

It was a humdrum day for markets Thursday as U.S. Treasuries paused in action after two days of solid gains including the 10-year closing +1 bp to 2.53% after another dose of dovishness from central banks. The People’s Bank of China indicated it will quickly implement the lower reserve requirement ratios for medium and small banks while the Bank of Japan and Sweden’s Riksbank both said that rates will remain at their present levels for longer than previously expected. Additionally, the Bank of Japan adjusted its forward guidance to note that rates will be kept at extremely low levels until at least the spring of 2020. The Federal Reserve Bank of Atlanta lowered its GDPNowcast for Q1 GDP growth ahead of today’s release of the advance GDP report from the Bureau of Economic Analysis. Domestically, Durable goods orders for March rose well beyond expectations as business spending accelerated encouragingly, while the headline number for initial jobless claims was disappointing. And the U.S. Census Bureau reported that Q1 homeownership fell 0.6% versus the high Q4 reading of 64.2% and well below the 2004 high of 69.2%.

There are only two domestic releases to close the week. The first look at Q1 GDP is the highlight of today’s calendar (+3.2%, PCE Deflator down to 1.3%). Michigan sentiment (fApr) is next up at 10:00am with markets expecting a slight uptick. We begin today with agency MBS prices up a couple ticks and the 10-year yielding 2.53%.

I traveled to Atlanta this morning for the NAMMBA event, and as I drove into a parking lot, I noticed that a pickup truck with a dog sitting behind the wheel was rolling toward a female pedestrian. She seemed oblivious, so I hit my horn to get her attention.

She looked up just in time to jump out of the way of the truck’s path, and the vehicle bumped harmlessly into the curb and stopped. I rushed to the woman’s side to see if she was all right.

“I’m fine,” she assured me, “but I hate to think what could have happened to me if that dog hadn’t honked.”

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. The current blog is, “MBS Liquidity: A Real Trooper.” If you have both the time and inclination, make a comment on what I have written, or on other comments so that folks can learn what’s going on out there from the other readers.


(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. Currently there are hundreds of mortgage professionals looking for operations, secondary and management roles. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2019 Chrisman LLC. All rights reserved. Occasional paid job listings do appear. This report or any portion hereof may not be reprinted, sold or redistributed without the written consent of Rob Chrisman.)

Rob Chrisman