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REwired

How employers can reassure potential LOs in the midst of mortgage layoffs

Invest in the right technology for LO retention
Under these circumstances, it can be an intimidating market for both job seekers and employers in the mortgage industry. So how do you reassure potential LOs when recruiting? Many professionals in the industry believe the key for recruiting loan officers is investing in technology that streamlines work to increase both efficiency and LO retention.
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Commercial real estate insider: Investors need to broaden their minds about funding sources

The most important debt products you may not know about
[Expert commentary] When it comes to debt, everyone seems to be eating from the same basic food groups. Banks, commercial mortgage-backed securities and big balance sheets dominate the market. If you're a multifamily investor, there’s also Fannie Mae and Freddie Mac. But most folks are really missing the most important and liquid debt products out there.
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Here’s what title insurers need to know about the feds’ new rules for all-cash real estate deals

Deloitte experts on FinCEN’s new requirements
[Expert commentary] Last month, the Treasury Department’s Financial Crimes Enforcement Network announced that it was expanding on its rules that require title insurers to report buyers’ identities and the source of the funds for certain residential real estate deals. Here's what title insurers need to know about the new rules and what they can do to comply with them.
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Pulse

[Pulse] Gary Vaynerchuk says homeownership is BS, but I don't care

It may have gone viral, but pay no attention to the high-profile entrepreneur's remarks
Industry interweb locales were on fire this past week when Gary Vaynerchuk – a sought-after motivational speaker, best-selling author and respected tech entrepreneur – slammed homeownership in a podcast interview that went viral. "I do not think the American dream should be buying a home anymore… It's a bad use of upfront capital, and it ties you up and it’s just not smart," he said. Are you enraged yet? If so, you're not alone.
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[Pulse] Why loan officers should keep it simple to build their personal brand

Actionable advice on how to intensify your digital marketing strategy
The digital mortgage boom is here, and the buzz is LOUD. So loud, in fact, that it's easy to be distracted from the data. Usage rates of all of the exciting new tools that we put in front of our loan officers are going in the right direction, but we're still not at 100% adoption, maybe because we haven't kept things as simple as they needed to be for our LOs in this ultra-competitive environment. So, here's some simple, specific, actionable advice on how you can leverage technology to market your personal brand.
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[Pulse] Don't buy into the hype over a pending real estate crash

That said, don't discount hype all together
Recent data has shown that home price growth is slowing, and the news might have had some real estate investors choking on their breakfast cereal. Every time we see an in-depth analysis of a weekly change in interest rates or mortgage loan application data, we remind ourselves not to buy into the hype. But while "don't buy into the hype" is good advice in general, there's also a compelling reason why we should not discount it entirely.
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[Pulse] Here are the 10 markets where home prices will rise most in 2019

This year will see significant price softening in the West
After nearly two years of continuous projected year-over-year increases in nationwide residential real estate appreciation, we predict that properties in the largest 100 markets will appreciate at just 3.9% in the coming year. Increasing housing supply and rising interest rates will be key contributors to the softening of the market.
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[Pulse] Lenders, you've got hurdles to overcome on the path toward the digital mortgage

Consumer education is sorely lacking
Using television commercials and marketing initiatives as an indicator of public interest in digital mortgages, you might think the entire world was clamoring to make one of their biggest financial life choices by saying, "Alexa, get me a mortgage." It is not. In fact, according to our survey, many American consumers struggle to define what, exactly, constitutes a digital mortgage.
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Closing Call

Taking ID verification to the MAXX

New tool lets lenders validate borrower's identity, character references
With its latest tool, IDMAXX, Pavaso has enabled lenders to achieve two aims with one solution. By leveraging a borrower’s network for both identity verification and character references, lenders can be assured that 1) the borrower is who they claim to be and 2) the total picture they have of that borrower, and the risk that borrower may pose, is accurate and complete.
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Redefining when the mortgage process starts

It's not what you think
Traditionally, there is plenty of jockeying for position amongst the differing players in the real estate transaction, particularly between lenders and realtors, over who owns the relationship with the consumer. Be warned: There isn’t going to be any place for that kind of possessiveness in the post-TRID market.
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The production challenges beyond TRID

Transitioning to a digital space
If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.
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A new era of solutions

Recapping last week's posts and tech progress this year

Solutions exist today that can help with a large majority of the business process shifts that will result from the rule. And the last year has provided an opportunity for them to solve things further.  


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