May 24, 2018
With compensation being one of the largest expenses, many lenders are taking a sharper eye to their incentive and compensation agreements. Rather than looking at profitability and compensation as opposing forces, lenders should be re-examining their comp structures with an eye towards driving loan originator performance while also achieving better profitability.
The struggles and frequent failures surrounding organic (in-house) innovations has as much to do with complexity as it does not understanding the need for "new" approaches and an acceptance of our surroundings.
John-Thomas "JT" Gaietto is Executive Director of Cybersecurity Services with Richey May & Co., Englewood, Colo., an accounting and advisory firm serving the financial services and real estate industries.
The Mortgage Bankers Association's commercial/multifamily mortgage bankers origination index reported an 8 percent increase in the dollar volume of loans closed for Fannie Mae and Freddie Mac between Q1 2017 and Q1 2018. According to the GSEs' 10-Qs, their multifamily business activity declined 19 percent over that period.
The Mortgage Bankers Association released a new MBANow video featuring MBA Associate Regulatory Counsel Sara Singhas, who discusses the new MBA Disaster Recovery Resource Guide.
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $711 on each loan they originated in 2017, down from $1,346 per loan in 2016, the Mortgage Bankers Association reported in its Annual Mortgage Bankers Performance Report.
Freddie Mac, McLean, Va., appointed John Krenitsky as senior vice president and chief compliance officer. He will transition effective June 1, following the retirement of current CCO Carol Wambeke and will oversee and manage Freddie Mac's compliance with legal and regulatory requirements and related controls that govern the company's business activities.
The Mortgage Bankers Association's latest Washington Update features MBA Associate Vice President of Legislative and Political Affairs Meghan Sullivan, who reports on three key developments from the past week.
Mortgage Bankers Association Associate Vice President Joel Kan breaks down the MBA Weekly Applications Survey for the week ending May 11.
In this new series, MBA Chief Operating Officer and mPower Founder Marcia M. Davies talks with Jan Fox, an Emmy award-winning TV anchor and reporter and the owner of Fox Talks, offering public speaking coaching and training.
In this new series, MBA Chief Operating Officer and mPower Founder Marcia M. Davies talks with Jean Bradley, Vice President of Strategic Development with Essent Guarantee, about mentorship and other support structures for professionals.
Very few companies spend adequate time on developing their corporate culture and instead just let it happen. Today, many companies try and make the working environment more fun and entertaining by offering relaxed break areas with video games, ping pong tables, pool tables, etc., to improve employee morale, but sadly they do not address underlying issues that affect employee engagement and ultimately productivity.
Linn Cook is Director of Sales and Marketing for LendingQB, Costa Mesa, Calif., a provider of lean lending loan origination technology services. He manages all marketing, public relations and sales activities. He brings nearly 20 years of experience in the mortgage technology industry.
On Jan. 31, the U.S. Court of Appeals for the District of Columbia Circuit issued its long-awaited ruling in PHH v. Consumer Financial Protection Bureau, finding that the structure of the Consumer Financial Protection Bureau is constitutional, but reinstating the previous panel decision rejecting the CFPB's interpretations of the Real Estate Settlement Procedures Act and the relevant statute of limitations.