AmCap Mortgage has recognized tremendous growth over the last several years, producing more than $1 billion in closed loans in 2013, while closing in on the $2 billion mark at the time of publication for 2015. Additionally, AmCap has expanded both the scope and reach of its services, after adding two regional operating centers in late 2012 and early 2013. AmCap is now licensed in 22 states, with 72 branch licenses and more than 300 loan originators.Finally, AmCap has received numerous awards, including the Houston Business Journal’s prestigious Fast 100 Award in 2015 for the quickest expanding companies.
How did AmCap achieve that kind of expansion when the broader industry has been struggling so much? CEO Garrett Clayton attributes the company’s growth and maturation to a strong operational foundation, a top-tier executive management team and a true love for the mortgage industry. Clayton explains, “While I am extremely proud of our growth, I am even more proud of our recent awards, customer satisfaction levels and our company’s rebranding.”
The company has incorporated the idea of partnership into every part of its organization, including its branding. AmCap uses the ampersand (&) as a company symbol because it signifies collaborative efforts and the attitude of inclusion, teamwork and partnership.
“To me a true partnership is one wherein each party to the transaction is better off for having been part of the relationship,” Clayton said. “We strive for 100% customer satisfaction and do everything we can to ensure our clients are happy with the experience. After all, AmCap is in the business of making good loans to good people.”
AmCap uses customer surveys as a benchmark for understanding what it is doing right and where it needs to improve.
“We typically have 70% participation rate in the surveys, so we are getting invaluable feedback directly from our clients on a monthly basis, which helps our managers create specific training for their staff and loan originators,” Clayton said.
“AmCap sees major growth opportunities in our industry, through the proper implementation of TRID. We are concentrating on the utilization of internal technologies to enhance the borrowers’ mortgage experience, while improving the overall communication and transparency during the entire mortgage process. Banks that embrace and implement the TRID regulation correctly will not only gain market share, but improve ROI and the bottom-line,” Jason Smargiasso, AmCap’s COO stated.
Even AmCap’s attitude toward regulatory compliance reflects the company’s orientation toward partnership. For example, instead of seeing the TILA-RESPA Integrated Disclosure rule as a roadblock to be overcome, the company embraced the chance to implement it.
The first thing AmCap did was to create a specialized “TRID Team” in the second part of 2015, while pushing its senior management team to learn as much as possible about how TRID would affect their individual departments. Once TRID was applied to their workflow, executives would report back to the TRID Team to collaborate on the best way to implement the new regulation, giving AmCap valuable feedback from all departments so it could better define its origination workflow.
The company also leveraged its technology platform and built a more robust reporting database, allowing its process to be scalable while remaining highly compliant.
“Enhancements in both of these areas were important as it gave our staff tangible information to test and trend against,” Clayton said.
But most importantly, AmCap made a concerted effort to develop a comprehensive training process around the new rule.
“The front line for ensuring our products adhered to the highest standards of accuracy and compliance is the branch office,” Smargiasso, said. “The TRID rollout meant nothing to the company without an effective training program. We needed every employee to understand the changes that affected their job responsibilities.”
AmCap utilized hands-on regional training as well as internal webinars to disseminate policies and procedures to employees. The company started training on its “Readiness Program” in the third quarter of 2015, and might be one of the few companies in the industry that was actually disappointed when TRID implementation was delayed.
AmCap regards TRID implementation as an opportunity for growth, since TRID requires human oversight and a highly sophisticated technology platform.
“While this can put pressure on banks and originators unprepared for the new changes, we were very confident in our prep work,” Clayton said. “Some banks will not have the resources to perform all of the requirements under TRID, but here at AmCap we feel the lending landscape looks very bright indeed!”