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Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages. Quotes vary based on credit scores, points and other factors. This generally matches up with data from Mortgage News Daily, which looks at marketed rates for strong credit profiles. On Friday, it recorded conventional 30-year mortgage rates of 6.40% and 15-year conventional rates of 5.89%. Fixed rates through the Federal Housing Administration (FHA) were at 6.10% and those through the U.S. Department of Veterans Affairs averaged 6.12%. Some rates were down nearly 50 basis points in a single week. In just the past day, loan officers should have seen their pricing improve between 25 and 40 basis points on government loans, and by 20 to 60 basis points on conventional scenarios, said Rick Roque, executive vice president of retail at Sierra Pacific Mortgage. The rate declines “means better pricing to consumers, incentivizing them to take advantage of approximately half a percentage point in rate improvement in the market,” he said. Here’s how LOs are handling the sudden drop in rates. Indeed, one West Coast LO told HousingWire that he quoted a borrower a 5.75% rate on a 30-year FHA loan for a $500,000 Southern California home purchase. The borrower had a 700 FICO score and is putting down 3.5%. “I don’t think we’ll see a big refi move until September,” the LO said, adding that it should be a “decent fall and winter for refis.” Several LOs and mortgage executives told HousingWire they’ve seen an uptick this week in refi interest and in purchase locks, especially following the jobs report. But few are popping the champagne just yet. “Vibes are cautiously optimistic,” said Jay Promisco, president of Sierra Pacific Mortgage. “A lot of floaters are waiting for more improvement. Rates are firmly in the 6s for most scenarios, and not a lot of reasons right now based on the economic data for rates to go back up. It might be a fun end-of-summer rally. Doesn’t help the inventory issue, but lower rates for borrowers is always good.” Ravi Patel, a branch manager for UMortgage in Kentucky, said he’s working with borrowers to take advantage of the here and now. “We’re in a unique window of opportunity where these lower rates haven’t had a strong foothold in the market yet. … It hasn’t been consistent yet,” Patel said. “For buyers actively looking, there’s not as much competition yet. But as these rates are consistently in the low to mid 6s and the high 5% range, all these buyers on the sidelines are going to get off the sidelines and look at houses. That will create more demand, and with supply still being an issue, we’ll be seeing multiple-offer situations and appraisal gaps.” For refi clients, he’s preaching patience. Patel is in conversation with existing clients who can save between 50 to 75 basis points. But it depends on their circumstance — some might benefit from waiting another month or two, when rates potentially could drop even more significantly. “With refinances, time is more on our side,” he said. “I’m not in a huge rush to lock because I think this is the start of the trend of rates continuously moving lower. Is it right for the client?” New borrowers in play Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), said rates have dropped about 80 basis points in a short period of time.

HousingWire is proud to announce the 2024 list of Insiders, recognizing 70 exceptional operational leaders who are instrumental in driving the success of their companies and the broader housing industry. Now in its 9th year, the HousingWire Insiders award honors the operations professionals whose dedication, innovation, and expertise have a profound impact on their organizations. These individuals are the unsung heroes who tackle the most critical and challenging projects, ensuring that their organizations thrive in an ever-evolving market. The value these honorees bring to the mortgage and real estate sectors cannot be overstated. From streamlining operations and improving user experiences to identifying market opportunities and implementing cutting-edge technologies, the 2024 HousingWire Insiders are propelling their organizations toward sustained growth and excellence. Their hard work and contributions are essential in shaping the future of housing, making this award a vital recognition of their efforts and achievements.

Generate Consistent Business by Nailing Down the Basics of Sales Activities Get up every day and do the basics exceptionally well. That mindset helped Andrew Chavez become a Green Beret who served two tours of duty in Afghanistan. How has this concept helped Andrew coach mortgage loan officers with less than 3 years of experience close an average of more than four loans per month? Listen to Episode 76 of Good. Better. Broker. as we find out how to identify and execute the fundamentals of daily sales activities. In this episode of the Good. Better. Broker. podcast, you’ll learn how a military veteran is using lessons he learned as a Green Beret to help mortgage loan originators find success. In this episode, we discuss ... 1:55 – why the lessons Andrew learned in the military help him coach LOs 3:12 – how Andrew transitioned from being a Green Beret to the mortgage business 5:58 – the meaning of “brilliance in the basics” and “trooping the line” 12:23 – why Andrew coaches brokers to read and search guidelines 14:33 – Andrew’s emphasis on communicating with branch managers 16:14 – how Andrew gets people to buy into his coaching strategy 19:44 – how LOs can build relationships with referral partners 22:51 – how to determine what your plan and daily activities should be 23:48 – the meaning of framing success and applying perspective 26:08 – why Andrew teaches LOs to have a repeatable process

Mortgage Professional America celebrates the Elite Women of 2024, a cohort of top performers and role models across the sector. Their success truly marks them out as female leaders in the mortgage industry due to the structural barriers they have faced. Statistics calculated by career platform Zippia show a dominance of men who enjoy higher rates of pay. Of the 25,500 estimated mortgage brokers: 32.5 percent are women 67.5 percent are men In 2022, women earned 90 percent of what men earned. Of the 239,300 estimated loan officers: 44.7 percent are women 55.3 percent are men In 2022, women loan officers earned 87 percent of what men earned. MPA’s own data comparing this year’s winners to 2023’s list highlights: 3.57 percent rise in Elite Women who felt there was not a lack of women leaders for younger women to look up to 13.89 percent drop in Elite Women whose firm has equal pay policies for the same roles regardless of gender 12.5 percent rise in Elite Women who feel they would have achieved more in terms of seniority or responsibility if they were not female

PHILADELPHIA, PA., July 1ST, 2024 – UMortgage, a leading national mortgage lender dedicated to creating life-changing opportunities through homeownership, continues its rapid growth with a record-breaking production quarter. Topping 2,010 units and reaching over $704.7 in funding volume, this achievement marks a 38.5% increase over Q1 of 2024 and surpasses the previous record set in Q2 of 2023 - $623 million with 1,871 units funded. Key Drivers of Success This extraordinary growth can be attributed to strategic leadership and innovative approaches in the mortgage industry. Anthony Casa, President & CEO of UMortgage, was recently honored as a 2024 Inman Best of Finance and a 2024 Philadelphia Titan 100 awardee, recognizing his visionary leadership in the mortgage industry. Anthony's commitment to excellence continues to drive UMortgage to new heights. “This incredible achievement is a testament to the dedication and hard work of our entire team," said Anthony Casa. "Every team member has played a crucial role in our success, and this milestone is a reflection of their relentless commitment to excellence. Together, we are building a brighter future for UMortgage and our clients." Andrew Chavez, newly appointed National Director of Sales Development, has been instrumental in amplifying UMortgage’s momentum. Alongside National Sales Leader, Jimmy Hobson, the two have been pivotal in the application of scalable sales strategies resulting in several record-breaking months at the start of 2024. Positioned for Continued Growth in the Mortgage Industry With a robust foundation, UMortgage is positioned for continued growth. Despite challenging conditions in the housing industry, the mortgage company is on track to fund $3 billion this year – its highest yearly production ever. The company's commitment to refining its systems and technologies plays a critical role in supporting its expansion and maintaining its leadership in the industry. To learn more about what being a Loan Officer at UMortgage would look like, download our Experience the Difference packet for an overview of the business-boosting benefits available at UMortgage. About UMortgage UMortgage is a national mortgage lender on a mission to create life-changing opportunities through homeownership. With Loan Officers licensed from coast to coast, an expansive suite of mortgage lenders to shop from, and a quick, clear, & communicative homebuying process, UMortgage is ushering in a modern mortgage experience catered to all homebuyers.

The Titan 100 program recognizes Philadelphia’s Top 100 CEOs & C-level executives. They are the area’s most accomplished business leaders in their industry using criteria that include demonstrating exceptional leadership, vision, and passion. Collectively, the 2024 Philadelphia Titan 100 and their companies employ nearly 140,000 individuals and generate over $14.6 billion in annual revenues. UMortgage President & CEO, Anthony Casa, is recognized as one of these greats.

By his own admission, Patton Gade (pictured top) “eats, sleeps, and breathes” VA loans – and the national director of military lending at UMortgage has plenty to say about the space and what mortgage professionals need to keep in mind when originating loans there. A West Point graduate and former Army officer, Gade realized immediately after starting out in the mortgage space that VA loans were the niche most suited to his background and experience. “I was at a call center, doing consumer direct, and I figured out very quickly that the people I connected with the most were fellow veterans,” he told Mortgage Professional America. “When I talked to somebody that was ex-Army, Navy, Air Force or whatever… we’d start talking about that and [I’d] realize it was much easier for me to make a connection with somebody when we could talk about something that we have similarities on. I naturally gravitated a lot towards veterans.” Another realization from those early days was a big gap in the market, with VA loans representing a tiny slice of most loan officers’ yearly business and many having only a passing knowledge of the space. Gade knuckled down and set about learning as much as possible about VA loans – and building a strong reputation and track record in that sector was helped no end by his ability to call on an extensive existing book of contacts. “All the people that I really interacted with for the first 15 years of my adult life were military people,” he said. “If you go to my Facebook page now it’s got a ton of mortgage people in it – but 10 years ago it was nothing but ex-military people. “So my natural sphere of influence was with veterans as well. Those things kind of just combined to make me go ‘Hey, this is probably a good place for me to focus.’” How loan officers can find their niche Finding a specific sphere of expertise is a recommended move for any loan officer – not just those who want to specialize in the VA space, according to Gade. “My advice to new loan officers is it doesn’t really matter what your niche is. You just have to figure out what it’s going to be – it doesn’t have to be VA,” he said. “You just have to figure out the community that you already naturally exist in. The questions to ask, he said, are as follows: “Where’s the place that I have already a natural connection with people and then how do I lean into that to make sure all of those people in my sphere actually know who I am – what I do, what my business is? And then how do you kind of join those things together?” Education, expertise crucial for loan officers in VA lending Gade stepped into his new role with UMortgage towards the end of last year, having put up huge numbers in VA loan originations since starting out. He said a concern in the VA space was lack of knowledge among real estate and mortgage professionals, feeding into misleading and incorrect information being provided to veterans about their options. “We’re working on building within UMortgage an educational platform where the truth is being told [about VA loans] and trying to get that out… having the real information there because there’s just too much misinformation,” he said. “You’ve got to have loan officers that are great – so we’re working really hard to train our loan officers on the truth about VA loans. There’s the educational component for realtors. And then the third prong is you’ve got to have a borrower that’s being trained in the right information.” For loan officers hoping to do more in the VA space, Gade’s advice is simple: good training is key. He’s also keen, he added, to pass on his own insights and knowledge wherever it can be used. “My phone is always on. People can pick up the phone and call me,” he said. “I [help] realtors where I’m not even involved in the transaction, but they’re calling me and going, ‘Hey, here’s what the loan officer said – what’s the truth?’ “I would say that everybody needs to have somebody like that that they can pick up the phone and call. Even if you don’t have that, you can call me and I will help you get your veteran served in the way that they deserve.”

“Instead of just texting back and forth, I’ll say, ‘I did a video on social media,’ and direct them to that. I can use it as a storage tool for educational value propositions to clients. I’ll try to sprinkle in some funny stuff because that’s what people want.” UMortgage Loan Originators share how they're using the power of TikTok to connect with the young generation of homebuyers.

During their conversation, Anthony Casa talks about how he went from dropping out of school at only 13 to being the president and CEO of UMortgage, and how his experience during the financial crisis carefully shapes how he approaches his business today. They also talk about finding growth in a shrinking market and the craft of walking a fine line between competition and a consumer-first approach.

PHILADELPHIA, May 6, 2024 /PRNewswire/ -- UMortgage, a national mortgage company committed to creating life-changing opportunities through homeownership, has developed a habit of setting a new company record nearly every quarter. In April, the platform set a new company record with $238mil in monthly funded volume with 688 families served. Coming off its third highest-producing quarter in company history during Q1 2024, UMortgage is on track to fund an estimated $3.25bil in volume this year. This company record indicates the exponential rate of growth that UMortgage continually achieves every year. From 2021 to 2024, UMortgage averaged an explosive 128% year-over-year growth despite the continued market challenges of rising rates and shrinking inventory that have shaken others in the industry. Reflecting on UMortgage's trajectory, Anthony Casa, President & CEO says, "We're a much better team now. Everyone is rowing in the same direction with a steadfast commitment to get better every day and make UMortgage the best mortgage company in America." "It takes the entire team for us to continue to grow and set records when others in our industry downsize," continued Casa. "Not only are we on pace for our fourth-consecutive year with a new company record for funded volume and families served, but we're also coming together as a team and positively impacting our communities." The company's last record month was set back in May 2023. Recent executive additions in April—including Jimmy Hobson as National Sales Leader, Christina Escobar as VP of People, and Mike Farah as Director of Sales Operations—bolster UMortgage's leadership and capitalize on its momentum in 2024. With a clear vision for the future and experienced leadership paving the path, UMortgage is on pace for its fourth consecutive company record for yearly funded volume and units. Casa will further outline the platform's vision and goals alongside Corie Meredith, VP of Marketing, and Patton Gade, National Director of Military Lending, this Thursday, May 9th at 2pm ET. Register for Loan Originators Powered by UMortgage for an inside look at the platform's plans for continued growth. About UMortgage: UMortgage is a national mortgage platform on a mission to create life-changing opportunities through homeownership for homebuyers across the country. With Loan Originators licensed from coast to coast, an expansive suite of lenders to shop from, and a quick, clear, & communicative homebuying process, UMortgage is ushering in a modern mortgage experience that can cater to any homebuyer.

Since he joined the UMortgage platform in 2021, Kyle Koller, branch manager of UMortgage West, has developed his branch into one of the highest producers of mortgages in the state of Utah and UMortgage into one of the fastest-growing mortgage platforms in the country. His exceptional leadership and mortgage expertise led the branch to exponentially increase its production year after year to help serve more than 1,000 families in 2023. Koller has played a massive role in UMortgage achieving back-to-back years of more than 100% funded volume growth. Individually, he grew his own production to feature at #111 on the Scotsman Guide’s 2023 Top Mortgage Brokers rankings with a total volume of $44 million. In line with his year-over-year production growth, he’s also grown his branch, UMortgage West, to become UMortgage’s top-performing branch in 2023 with $350 million in production and more than 1,000 families served as a team. He’s also played a large role in attracting the best of the best to UMortgage, most recently striking a partnership with another high-producing Utah brokerage. Following this recent acquisition, Kyle and his fellow UMortgage West Branch Managers are projected to eclipse $500 million in total loan volume in 2024. As a branch manager for one of UMortgage’s 19 national branches, Koller exemplifies UMortgage’s core value to create strong communities by regularly giving back to his local community to help create life-changing opportunities through homeownership. He hosts weekly training sessions for real estate agents in his area to provide personal housing market updates and other mortgage education that they can use to arm their homebuyers with knowledge. Kyle regularly demonstrates selflessness and a willingness to go out of his way to help his fellow LOs by regularly volunteering to host UMortgage’s internal daily Sales Huddles; these provide him a platform to coach his peers, offer his unique first-hand experiences and share specific areas expertise to help his fellow UMortgage team members become the best version of themselves. What is one habit that has helped you succeed? Becoming consistently organized when working through my loan files and handing them off to my processors has had a major positive impact on my business and my clients’ home buying experiences. By keeping all of the fine details of each individual file easily accessible, I’m helping set up my operations team for success. This allows them to efficiently move through my files and enables me to scale my business by offering extra time and peace of mind to focus on prospecting.

As an eventful year continues in the US mortgage space, MPATV caught up with UMortgage CEO Anthony Casa to hear what he’s been keeping top of mind about the current climate – and what brokers should be focusing on as they gear up for busier times ahead.

Tyler Hodgson, EVP of Growth at UMortgage, joined Eddy Perez, CEO of EPM, to discuss the events that shape us as professionals and changing your habits.

UMortgages proud to announce that its Ohio and northern Kentucky-based branches, UMortgage Cincinnati and Ohio Valley Mortgage, have joined forces to form UMortgage Midwest. Led by Branch Managers, Ravi Patel and Justin Allen, UMortgage Midwest boasts a team of 20 experienced Loan Originators serving homebuyers throughout Ohio, Kentucky, Indiana, and beyond. By merging, UMortgage Midwest will align in its strategy to better serve homebuyers and real estate professionals throughout the midwest.

With nearly a decade of industry experience and a track record that places him as the #1 Scotsman Guide-ranked VA loan originator, Patton is a recognized expert in the field of military lending and understands the unique needs of military members and veterans when it comes to home financing. In his role as National Director of Military Lending at UMortgage, Patton continues to originate loans while leading the Military Lending Division. Surrounded by a team of VA experts, they strive to increase access to homebuying opportunities for members of the military community and change the narrative and negative stigmas associated with VA loans within the mortgage industry. Patton’s passion for serving the veteran community continues to push his career to new heights.

“Building trust and transparency through a feedback loop is key to crafting solutions that genuinely yield meaningful results.” Corie Meredith, VP of Marketing at UMortgage, was awarded as most admired woman leader in the mortgage industry by Women World Magazine.

UMortgage has partnered with Springfield, Mo-based brokerage Community Mortgage Brokers (CMB) as part of its expansion strategy. The collaboration will see CMB rebranding to UMortgage Springfield and operating as the latest branch of UMortgage, with offices already established in Missouri and Colorado. UMortgage Springfield, under the leadership of branch manager Andrew Chavez, will have a team of 11 loan originators, proficient in seven languages and well-versed in various loan products and programs. The company said versatility enables them to cater to a diverse range of homebuyers and real estate agents.

Five years ago, Ian Twaddle was a 100 percent online refi guy with zero real estate agent relationships. Today, nearly 90% of his business comes from purchases and he’s “obsessed” with helping his real estate partners. How can mortgage loan originators make sure they’re top of mind with every real estate agent in their market? Listen to episode #61 of Good. Better. Broker. as Ian explains how he shifted his strategy and saw his business take off in the process. In this episode of the Good. Better. Broker. podcast, you’ll learn how to ensure your real estate partners are blown away by the level of service you provide.

With interest rates high, housing inventory low and Veterans Day just around the corner, Cheddar News took a look at how the current market is impacting those who served and continue to serve our country. Patton Gade, national director of military lending with UMortgage, explains how a VA loan works, its benefits and what's involved in the process of purchasing a home.

Patton Gade, 2023 Scotsman Guide Top-Ranked Loan Officer, Leaves loanDepot to Provide More Accessible Homebuying Options for Military Community. PHILADELPHIA, PA. – October 23, 2023 — Patton Gade—the #1 VA Loan Originator and #89 Top Purchase Volume Loan Originator in the Nation, per the 2023 Scotsman Guide Rankings—announces that he has joined UMortgage as its National Director of Military Lending. In his role, Gade will continue to originate loans while leading UMortgage’s new Military Lending Division which will strive to increase access to homebuying opportunities for members of the military community and change the narrative and negative stigmas associated with VA loans within the mortgage industry. “I’m thrilled to join the UMortgage platform and team up with its already impressive team of VA Loan Originators,” said Gade. “Our vision at UMortgage is to educate and serve veterans through their homeownership journey with the same selfless passion in which they served our country.” As a graduate of the United States Military Academy at West Point, he’s dedicated his career in the mortgage industry to help create life-changing opportunities through homeownership for active service members, Veterans, and their families. Upon his arrival at UMortgage, Gade will join forces with fellow top Veteran Loan Originator and West Point alumnus, Jay Bunte, to bolster UMortgage’s VA offerings and coach its LOs to better serve Veteran homebuyers. In 2023, more than 20% of the loans originated by UMortgage LOs were VA loans. With Gade leading its Military Lending Division, UMortgage hopes to continue to increase those figures. Bunte, who ranked #28 in the Scotsman Guide’s 2023 Top VA Volume, expressed a profound excitement to help create such a high-quality sales division purely dedicated to helping serve former and active service members and debunk preconceived myths regarding VA loans. “It’s a privilege to have the opportunity to work with and learn from someone like Patton who has such an incredible passion for serving and educating our Veterans and active service members,” said Bunte. “There’s no shortage of misconceptions surrounding VA loans and Veteran homebuyers within our industry. The military division that we are creating will do a lot to correct those narratives and help us better serve our service members.” If you’re interested in learning more about what UMortgage is doing to help independent mortgage brokers grow their businesses, sign up for its weekly Loan Originators Powered by UMortgage discovery call which is hosted every Thursday at 2pm ET. About UMortgage UMortgage is a nationwide loan origination company committed to transforming the mortgage industry through innovation, exceptional growth, and dedication to client experience. With more than 300 Loan Originators, an industry-best 95 net promoter score (NPS), and 250% year-over-year growth, UMortgage is growing in a shrinking market, demonstrating its adaptability, and showing an unwavering commitment to providing top-tier service to its clients. Visit www.umortgage.com/careers/loan-officers for more information.

UMortgage has announced the launch of its Level Up Sales Coaching program – an initiative that aims to increase consistency, confidence, and production for its loan originators. According to its Press release, the program matches UMortgage loan originators with a dedicated coach to teach sales strategies and develop a winning mentality that enables them to grow their businesses. The company has enlisted 16 of its top producers to teach sales strategies and lead the new coaching program. “This project is the culmination of months of work and preparation to help our loan originators improve in every aspect,” said Tyler Hodgson, UMortgage executive vice president of growth and Level Up sales coach. “This UMortgage exclusive sales development program focuses on accountability, mentorship, and strategy-sharing from some of our top originators. We’ve developed amazing technology and programming to offer our LOs more insight and transparency into their actions and results.” UMortgage said it has been developing the Level Up platform to allow participants to track their activities and goals, with access to “intentional coaching” by Volentum CEO René Rodriguez. Read more: UMortgage unveils financial literacy program “When we were originally ideating Level Up, we used to think its purpose was to help our loan officers simply close more loans,” stated Sam Abazari, director of coaching at UMortgage. “After months of development, Level Up is all about teaching individuals to constantly do +1 activities. We want to enable all our LOs to achieve the business they want so they can have the life they want.”UMortgage has announced the launch of its Level Up Sales Coaching program – an initiative that aims to increase consistency, confidence, and production for its loan originators. According to its Press release, the program matches UMortgage loan originators with a dedicated coach to teach sales strategies and develop a winning mentality that enables them to grow their businesses. The company has enlisted 16 of its top producers to teach sales strategies and lead the new coaching program. “This project is the culmination of months of work and preparation to help our loan originators improve in every aspect,” said Tyler Hodgson, UMortgage executive vice president of growth and Level Up sales coach. “This UMortgage exclusive sales development program focuses on accountability, mentorship, and strategy-sharing from some of our top originators. We’ve developed amazing technology and programming to offer our LOs more insight and transparency into their actions and results.” UMortgage said it has been developing the Level Up platform to allow participants to track their activities and goals, with access to “intentional coaching” by Volentum CEO René Rodriguez. “When we were originally ideating Level Up, we used to think its purpose was to help our loan officers simply close more loans,” stated Sam Abazari, director of coaching at UMortgage. “After months of development, Level Up is all about teaching individuals to constantly do +1 activities. We want to enable all our LOs to achieve the business they want so they can have the life they want.”

Choosing the right lender is a critical decision when obtaining a mortgage. With numerous options available in the market, it's important to navigate through the choices and find a lender that aligns with your financial goals and offers favorable terms. Whether you're a first-time homebuyer or an experienced homeowner, understanding the factors to consider can help you make an informed decision. From interest rates and fees to loan programs and customer service, this Redfin guide explains how to choose a lender that best suits your needs. By following these steps and conducting thorough research, you can begin your mortgage process with confidence and secure a home loan that sets you up for financial success. Where can you get a mortgage? When searching for a mortgage lender, it's important to understand the different types of lenders available in the market. Each type has its own advantages and considerations. Here are some common types of mortgage lenders: Traditional Banks: Traditional Banks, such as Wells Fargo, and Bank of America, are established financial institutions with a wide range of services, including mortgages. They have physical branches for in-person interactions, but their lending criteria may be strict, leading to longer processing times. Credit Unions: Credit Unions, like Navy Federal Credit Union and Alliant Credit Union, are member-owned cooperatives offering financial services, including mortgages, with competitive rates and lower fees compared to traditional banks. They prioritize customer service and may have more flexible lending criteria. Mortgage Banks: Mortgage Banks, such as Quicken Loans and PennyMac Loan Services, are specialized lenders solely focused on mortgage lending, streamlining the loan approval process by originating and funding loans in-house. They do not offer other banking services. Online Mortgage Lenders: Online Mortgage Lenders, such as Rocket Mortgage and Guaranteed Rate, are digital lenders providing convenient and streamlined mortgage applications, often with lower costs due to reduced overhead. However, personalized service may be limited compared to traditional lenders. Mortgage Brokers: Mortgage Brokers, such as LendingTree or LoanDepot, connects borrowers with multiple lenders, searching for the best mortgage options. They have access to various loan products and can assist borrowers with complex financial situations, earning a commission from successful loan origination. Non-Bank Lenders: Financial institutions without banking licenses that offer mortgages and other services, with flexible lending criteria and a willingness to work with borrowers in unique circumstances. Government Lenders: Fannie Mae and Freddie Mac, government-sponsored enterprises facilitating homeownership by purchasing mortgages from lenders. This helps provide more affordable loans to borrowers. Private Lenders: Individuals or private companies offering loans based on their own criteria, often specializing in niche markets or providing options for borrowers who may not qualify with traditional lenders. They typically charge higher interest rates and require a substantial down payment. "Not all loans and lenders are created equal. A delicate balance of competitive rates, options for speed to help strengthen an offer against competitors, and an experienced loan officer willing to educate a consumer is the key to success," says Christian Griffin from Maverick Mortgage. "Advertised rates are simply the paint on the outside of a vehicle. Don't be afraid to lift the hood and poke around. There are multiple components that help differentiate the best deal to be had." It's important to carefully evaluate the offerings, terms, and reputation of each type of mortgage lender to find the best fit for your specific needs and financial situation. Consider factors such as interest rates, fees, loan options, customer service, and the lender's track record. How to find the best mortgage lender Finding the best mortgage lender involves thorough research and consideration of various factors. By following these steps, you can increase your chances of securing the right lender for your needs and ensure a smooth mortgage application process. Steps to choosing the best mortgage lender 1. Get your finances in shape To enhance your chances of obtaining a mortgage with favorable terms, focus on improving your financial situation. Start by assessing and boosting your credit score, as a higher score provides more loan choices and lower interest rates. Obtain free credit reports and check them for accuracy, disputing any errors. Lower your debt and improve your debt-to-income ratio by paying bills on time and reducing credit card balances. Aim for a DTI ratio below 40% to meet lenders' criteria. These steps will strengthen your finances, help you calculate a mortgage you can afford, increase your loan options, and free up funds for a down payment . VA loans cater to active and veteran military members, while USDA loans are designed for rural homebuyers. These loans typically do not require a down payment. FHA loans have lower credit score requirements and can be obtained with as little as 3.5% down payment. Conventional loans are geared towards borrowers with good credit, with some options requiring as little as 3% down payment. Jumbo loans are used for financing high-value properties that exceed the limits of conventional loans. "Know how much you want your monthly payment to be and save the difference between your current payment and your desired new payment ahead of time in a separate savings account, and see how that feels on your monthly budget," recommends Melissa Tippey from Advantage Mortgage . "Create a savings account that has three months of reserves for emergencies. Be sure to provide the lender with all the requested documents upfront." 2. Kow what type of mortgage you need To find the best type of mortgage that fits your needs, familiarize yourself with the different types of home loans available. Here are a few of the options available: Home loans vary in terms of the length of the loan, such as 15 or 30 years, and the type of interest rate structure they offer. Fixed-rate mortgages maintain a consistent interest rate throughout the loan term, ensuring stability for borrowers. On the other hand, adjustable-rate mortgages start with a fixed-rate period, followed by periodic adjustments to the interest rate. To find the right mortgage, it's important to research and understand these options, and then seek out lenders specializing in the specific loan programs you require. 3. Shop for suitable lenders The most important thing you can do to make sure your lender is a good fit for you is talk to multiple lenders. Different lenders offer different types of home loans and interest rates. If you go with the first lender that comes along or offers the lowest interest rate, you may miss out on a great loan option. Some lenders may not even mention a certain loan that would save you money or better meet your needs, if it's one they don't offer. Mortgage shopping can also show you what a lender's customer service is like. The loan officers you talk to should be helpful, answer your questions, and never pressure you. Their ability to communicate clearly and quickly can make the difference when you're trying to close on a home. To find lenders, start with resources you already have: Talk to the bank or credit union where you have your checking or savings accounts. Ask any friends or family members who recently purchased homes if they would recommend their lender. Do research online and look for lenders with good reviews. "While the internet is a great source of information, it often provides only part of the story, especially when it comes to buying a home and getting a mortgage. Getting approved for a mortgage does not need to be stressful if you use a dedicated professional," shares Todd Bitter from UMortgage. "First, check online reviews to see past client experiences. A good lender will have many strong reviews to read. Look for comments about the experience first, then about rates/cost. Remember, the cheapest option is rarely better when making the biggest purchase of your life. Find a lender with many reviews that offers great service and a good price." 4. Talk with your agent If you're already working with a real estate agent, they'll likely have lender recommendations. Some lenders have a reputation for closing on time—or not. In areas where homes get lots of offers and sell fast, your lender's reputation can affect whether your offer is accepted. If you have a lender picked out, talk to your agent and weigh the pros and cons. "My advice for homebuyers right now is that in this market, you have to work with the right team of people in order to have success in finding a home and getting the right mortgage," says Vito Busano from LifeStone Mortgage. "Interview your real estate agents. Talk to local lenders and discuss different loan programs and rates. Working with a mortgage broker is always beneficial as they can shop around for you, which is what we do." 5. Get pre-approved early Buyers often wait to get a loan pre-approval until later in the home-buying process. But the sooner you get pre-approved, the better: You won't know what you can really afford until you've been pre-approved. Pre-approval is the only way to find out what kind of loan a lender will offer you. By checking your credit and finances, a lender can tell you if raising your credit score or reducing your debt could improve your loan options. Several pre-approvals from different lenders will give you the best picture of your situation. If you're worried about the effect on your credit score, don't be. Lenders and credit companies understand how all this works, so you won't be penalized for multiple mortgage-related credit checks in a short period. Learn more about mortgage pre-approvals. "Getting fully approved through underwriting with a local lender prior to looking at homes with your realtor can make a world of difference in your home buying journey," recommends Ryan Nies from Cornerstone Home Lending. "Look for lenders that can take you through the underwriting process prior to making an offer and can ensure a quick close so you can compete with any buyer in this competitive market." Pre-approval also gives you a big advantage when you're house-hunting. In a competitive market, you may need to make an offer fast, and if you don't have a pre-approval letter, you may lose out to another buyer who does. Sellers want the peace of mind of accepting an offer from a buyer who can prove they are qualified. 6. Look into first-time buyer programs There are thousands of state and local homebuyer programs that can help first-time buyers afford a home. Often they partner with lenders that are certified to offer the program and have experience working with first-time homebuyers. Local nonprofits that help lower-income buyers frequently have lenders in their network as well. Find first-time homebuyer programs in your area. No matter what lender you're talking to, you can ask if they offer programs for first-time homebuyers. Just make sure to inquire about all the pros and cons because some of these loans may have hidden costs. 7. Compare mortgage loan offers Before finalizing your decision, it is crucial to compare the interest rates and fees offered by at least three lenders or brokers to ensure you secure the best mortgage deal. Here are key ways to compare loan offers: Interest Rate: While interest rates are a significant factor, don't solely rely on them. Rates fluctuate daily, so it's important to find the right lender before locking in a rate. Inquire about mortgage points, which can lower the interest rate, and understand their cost and necessity. Fees and closing costs: Mortgage loans come with various fees, some of which may not be straightforward. Ask about all fees, such as application fees, underwriting costs, and closing fees. Compare the fees listed individually or bundled together, and negotiate to reduce them whenever possible. Down payment and mortgage insurance: Aim to make a substantial down payment while keeping funds aside for future home-related expenses. Explore down payment assistance programs, especially if you are a first-time homebuyer, to secure the loan without depleting your savings. If your down payment is less than 20%, expect to pay for private mortgage insurance (PMI). Loan terms: Examine the loan terms, including the duration of the loan (e.g., 15 years, 30 years) and any adjustable-rate features. Assess which terms align best with your financial goals and repayment capacity. Annual Percentage Rate (APR): The APR reflects the overall cost of the loan, including interest rates, fees, and other charges. Compare the APRs of different loan offers to gain a comprehensive understanding of the true cost. Loan features and programs: Assess any special features or loan programs offered by lenders, such as first-time homebuyer programs, down payment assistance, or flexible repayment options. Consider which features are beneficial for your specific situation. Customer service: Evaluate the customer service provided by each lender. Consider factors such as responsiveness, accessibility, and the level of support they offer throughout the loan process. 8. Ask your lender questions If you’re a first-time home buyer, you might be wondering what questions you should ask when talking to a mortgage lender. Here are some of the top questions to ask your lender: What will my fees and payments be? Which type of mortgage terms do you offer? What credit qualifications do you require? Do you offer mortgage points? Do I need an escrow account? What is the interest rate and APR Do you offer a mortgage rate lock? Do you offer preapproval or prequalification? What is the best down payment needed to buy a house? Is there a prepayment penalty? Takeaway: how to choose a mortgage lender Selecting the right mortgage lender is a crucial step in the home buying process. The ideal mortgage lender is someone who listens to your needs, offers honest advice, and works diligently to turn your homeownership dreams into a reality. Take the time to research and compare lenders, and don't hesitate to seek recommendations. By making an informed decision, you can secure a mortgage that fits your financial situation and embark on the path to owning your own home with confidence.

UMortgage has celebrated a new financial milestone – hitting its goal of $1 billion in funded loan volume halfway through 2023. The company credited Pennsylvania-based loan originator Ian Twaddle and his team with the accomplishment. According to UMortgage's press release, Twaddle's team originated the loan that officially brought UMortgage above $1 billion funded for the year. "We're thrilled to have hit $1 billion in funded loans so early in the year," said Rob Pieklo, vice president of revenue at UMortgage. "We laid the groundwork to make this kind of production growth possible, but it was achieved thanks to the buy-in from everyone across the organization. $1 billion isn't the final goal, though." Pieklo revealed UMortgage is currently "fine-tuning its operation processes" with a company-wide initiative called Operations 1.62. It will also launch a coaching platform that connects loan officers throughout the organization with experts across the mortgage industry and beyond. "We throw around the phrase 'all in' a lot, but Anthony [Casa] has truly gone 'all in' over and over—especially with operations," Twaddle said. "At UMortgage, we're never settling. Rather, we're constantly improving our operations processes and standards until they're the best in the business. That's what makes it possible for me and the team to do the business we have been doing."

Under the leadership of Corie Meredith, vice president of marketing, UMortgage’s marketing department has become a standout within the mortgage industry with an innovative approach to marketing, clean and consistent branding and a modern voice to match the progressive nature of its lending platform. Meredith’s leadership has allowed UMortgage’s creative team members to flourish. Across the last 12 months and beyond, she’s built an innovative and creative marketing team that has successfully established the UMortgage brand across the industry.

WILMINGTON, N.C., June 5, 2023 /PRNewswire/ -- UMortgage is excited to announce that it has welcomed the MC Mortgage Group to its growing nationwide mortgage platform. MC Mortgage Group is a Wilmington, North Carolina-based mortgage brokerage serving homebuyers across North and South Carolina. MC Mortgage Group President, Patrick Stoy, founded the brokerage in 2005 and boasts 24 years of experience as a broker within the housing industry. He was named a UWM Top 1% Broker and a Top-100 Purchase LO with UWM in 2022. Locally, he was named Mortgage Professional of the Year by the North Carolina Home Builders Association in 2021. "Being that I've been a true independent mortgage broker since 2005, this platform will allow me the opportunity to focus on my relationships with my realtor partners, my LOs, and my borrowers," Stoy said regarding his decision to join UMortgage. "Not having to worry about the stress of day-to-day operations will allow me to create more life-changing opportunities through homeownership and help families build generational wealth." MC Mortgage will bring a team of 10 loan originators to the UMortgage platform to continue to provide buyers with an exceptional homebuying experience across North and South Carolina. The company was named MPA Top Employer and Lender and Wilmington Cape Fear Home Builder's Association's Lender of the Year in 2021. "We're delighted to welcome the MC Mortgage Group to the UMortgage platform," said Anthony Casa, President & CEO of UMortgage. "Patrick has built an incredible brokerage that aligns directly with our vision to create life-changing opportunities through homeownership. I'm incredibly excited to see what they're able to achieve with the tools and resources available at UMortgage!" UMortgage loan originators have seen plenty of success in the first half of 2023. Despite a slower housing market, the platform has had record-breaking months for funded loans in February, March, and April, and is on track to produce record-breaking figures once again for the month of May. UMortgage's platform has been developed to offer loan originators the low rates and robust product optionality of a wholesale brokerage and the day-to-day operational support typically exclusive to retail lenders. Follow this link to learn more about how UMortgage loan originators can maximize these resources to grow their businesses. CONTACT: Greg Mays, gmays@umortgage.com SOURCE UMortgage

This week, we have the pleasure of welcoming Gil Arbitsman, the Chief Financial Officer at UMortgage, to the Housing News podcast. For those of you that aren’t familiar with the UMortgage, it’s Anthony Casa’s new mortgage origination shop — which Clayton got the chance to chat with Anthony about back in December of last year. Gil is also a 2023 HW Finance Leader Awardee. But this week, the conversation with Gil takes a different approach to look at a lot of the overlooked operational considerations of business development and marketing. Clayton and Gil talk about the financial considerations of growing, acquiring and recruiting in a tough market, really getting a glimpse into it from a top-notch finance leader who has a true focus on growth.

PHILADELPHIA, March 13, 2023 /PRNewswire/ -- Buoyed by the momentum of its second record month for loans locked in the last three months, UMortgage is delighted to announce the addition of Ravi Patel and his team to the growing mortgage platform. Previously, as Senior Vice President of Mortgage Lending at Guaranteed Rate, he and his team displayed an exceptional ability to grow despite market headwinds. Last year, they closed more than 250 loans and increased their purchase volume by 20% from 2021—the kind of growth that Patel will look to build upon with the resources available with the UMortgage platform. "The mindset of those at UMortgage is what really convinced me to join the platform," said Patel. "They are currently a beacon of light in a mortgage industry that's been dim for the last couple years. I'm incredibly excited to continue to grow my team and partner with Justin Allen and Shane Faherty. Together, we're going to continue to create a better mortgage experience for our clients and referral partners." The addition of Patel and his team—including David Behymer, Tony Piper, and Sydney Wallace—is another burst of momentum in what has been a remarkable period of growth for the UMortgage platform. Patel is another noteworthy name on a list of loan originators who have joined since the start of the year. Those heavy hitters have made an immediate impact since joining UMortgage, with the platform posting a record month for funded loans in December 2022, then re-setting that record in February 2023. "We're very excited to welcome Ravi to our UMortgage family," said Anthony Casa, President & CEO of UMortgage. "Winners in this industry want to join our platform because we're identifying the acute pain points of loan originators of different backgrounds—whether that be a retail shop or their own brokerage—and providing value-based solutions." The momentum seen at UMortgage in Q1 of 2023 is just the start for the mortgage platform. If you'd like to learn how UMortgage equips loan originators with the tools to scale their business, sign up for Loan Originators Powered by UMortgage hosted Wednesdays at 2pm ET. About UMortgage UMortgage is a mortgage platform built to help loan originators scale their businesses and create life-changing opportunities through homeownership. With LOs licensed nationwide, UMortgage is providing opportunities to create strong communities through financial literacy, support, and advocacy. Contact: Greg Mays 803-431-6663 gmays@umortgage.com SOURCE UMortgage

UMortgage will be acquiring Dallas-based brokerage, NXT Mortgage, the companies confirmed to HousingWire. UMortgage is bringing NXT’s assets, technology, and people in-house, including its founder and president, Tyler Hodgson. After the transaction is complete, which is expected to happen within the next two weeks, NXT will be part of UMortgage, adopting its business model and compensation structure. Founded in 2017 by Hodgson, NXT originated $255 million in mortgages over the last 12 months, 74% of which were purchase loans, according to the mortgage tech platform Modex. NXT has 35 active loan officers, the data shows. “Tyler is a certified public accountant, and he did build some proprietary technology that helps with the onboarding process and makes it efficient and scalable. That was a big part of the value added to the company,” said Anthony Casa, who founded UMortgage in 2020. According to Hodgson, NXT and UMortgage have a common vision of building a one-of-a-kind platform for loan originators. “Our partnership will allow us to grow more rapidly towards our shared goal,” Hodgson said. UMortgage and NXT declined to provide financial terms of the deal. A source familiar with the transaction told HousingWire that UMortgage is paying over $10 million in cash and equity, and the payout is tied to the retention of the loan officers. Hodgson, a Marine Corps veteran, will own UMortgage’s shares. He will also be a national sales leader, reporting to Todd Bitter, who was hired in December to replace Casa as chief sales officer at UMortgage. UMortgage, wholly owned by UM Group Holding Company LLC, has completed a series of capital-raising rounds over the last two quarters. The company sold equity to 27 senior leaders, loan originators, branch leaders, and team members, with an average contribution of $200,000 per shareholder. However, Casa, the CEO with board of directors oversight, said he retains voting rights. Casa posted on social media in early December that he expects to own less than 1% of UMortgage by January 1, 2025. The remaining 99% of shareholders will be LOs, branch leaders, and team members. “Our corporate documents mandate that the CEO’s contract can never be longer than one year, which means each year shareholders will vote on whether or not they want the CEO to return. No one works harder than someone on a ‘prove’ it contract,” Casa said. UMortgage is a broker shop and a non-delegated correspondent lender that works with over 22 lenders and banks. According to Modex, it reached $617 million in production over the last 12 months, with 302 loan officers and 22 branches. UMortgage claims it gains 65 basis points from each loan and takes 14 calendar days on average to close a loan.

UMortgage, a national mortgage platform, is closing out 2022 the same way it spent much of the year—with exponential growth. Just this month, the platform brought on mortgage broker icon, Todd Bitter, as Chief Sales Officer to its Executive Leadership team, acquired Dallas-based NXT Mortgage, onboarded top-producing brokers Breon Price— the number one ranked broker in Ohio—and Chad Curtin, sending shockwaves throughout the mortgage industry. The innovative mortgage platform made a concerted effort throughout the year to enhance its Executive Leadership team with highly experienced individuals from different pockets of the finance and mortgage industry. Just in 2022, UMortgage added 4 industry veterans and promoted another 2 to its executive leadership team. UMortgage hired individuals with high-level experience from other big players in the industry, including Guaranteed Rate, American Financial Resources, Homepoint, and United Wholesale Mortgage. "In order to maintain our people-focused vision while we scaled, we had to build an experienced leadership team," claimed Casa. "That leadership was paramount in driving the growth of UMortgage and attracting the most talented loan originators within the industry." Last week, UMortgage broke news that it had acquired NXT Mortgage. After being founded by Marine Corps veteran, Tyler Hodgson, NXT quickly shook ground within the mortgage industry. In 2020 and 2021, the brokerage was named one of America's fastest-growing private companies by INC 5000. Directly following the acquisition, UMortgage announced that it attracted a Motto Mortgage branch led by Price and an NRL Mortgage branch led by Curtin–bringing more than 65 new employees to UMortgage in a three-week span. These major additions signal an investment into the lending platform built by President & CEO, Anthony Casa, in 2020. The platform enters the calendar year with nearly 300 loan originators on its roster—more than a 1,500% increase since the beginning of 2022. If you'd like to learn more about the UMortgage platform and how it's creating a better path for brokers to originate, for buyers to borrow, and for real estate agents to offer better client experiences, sign up for the weekly UMortgage Discovery Meeting, Thursdays at 2pm ET.

Today’s Housing News guest is Anthony Casa, the president and CEO at UMortgage to talk in-depth about an acquisition that UMortgage announced this very morning. Clayton and Anthony also talk about their communication and M&A strategy, the way that he has evolved and attracted people as a leader over the years, and shares some strategy tips about how to recruit the next generation of talent in the mortgage industry. The Housing News podcast explores the most important topics happening in mortgage, real estate, and fintech. Each week a new mortgage or real estate executive joins the show to add perspective to the top stories crossing HousingWire’s news desk. Hosted by Clayton Collins and produced by the HW Media team.

UMortgage seems to be on an acquisition spree. On Monday, the company revealed that it acquired Texas-based NXT Mortgage. And earlier last week, news dropped that the Philadelphia-based mortgage company snagged a Motto Mortgage branch in Cincinnati. The two companies in total will bring close to 60 new employees to UMortgage. Tyler Hodgson, CEO of NXT Mortgage will also transition to the company, and will serve as the company's president.

PHILADELPHIA, PA; December 13, 2022 — Todd Bitter has announced that he is joining the UMortgage platform, citing it as the future of the mortgage brokerage industry. He will take the role of Chief Sales Officer where he will support the platform’s ever-growing roster of loan originators. Bitter has earned a reputation as an icon within the mortgage industry for championing the broker channel and building his own business from the ground-up to become one of the nation’s top-producing purchase-focused brokers. Recently, he has pivoted his focus away from his own loan production to support his fellow brokers and share with them the practices that he utilized in order to replicate his success and retain a healthier work-life balance. His success within this industry and continued dedication to lift those around him has been reciprocated throughout the housing industry. In 2022, he was named an inaugural Hall of AIME inductee. He’s shown continued expertise in client acquisition and retention as the #1 purchase originator within the broker channel in Arizona and a top-10 broker nationally in purchase originations from 2015 to 2021. Bitter was selected as a member of the Founders Club for BACPAC, where he continues to advocate for his fellow brokers within the halls of Washington. Bitter plans to continue this advocacy with his efforts at UMortgage, which was founded as a platform for loan originators aiming to create life-changing opportunities through homeownership for their clients. In joining UMortgage, Bitter plans to continue his initiative in building up the broker channel by becoming an accessible resource for UMortgage’s team of loan originators. “Giving back to the broker community has been hugely rewarding to me and this opportunity with UMortgage is a continuation of that,” expressed Bitter. “My previous work in helping develop my fellow brokers has led me to realize the importance of this support. Here, I’ll be able to channel all of my focus into building the most cost-effective, in terms of both profitability and time-management, platform to help loan originators find success in this industry.” Bitter has developed successful tactics in building strong relationships with his real estate agent partners. By combining this ‘relationships, not transactions’ approach with UMortgage’s in-house Operations staff, Bitter believes that he will be able to assist in developing the best platform for independent loan originators to produce at high volumes and help actualize the dreams of homeownership for countless homebuyers. If you're interested in learning more about how Bitter's new role at UMortgage will help loan originators win more deals in any market, sign up for the weekly Discovery Meeting, which happens every Thursday at 2pm ET. About UMortgage UMortgage is an innovative mortgage platform which helps Loan Originators grow their business and create life-changing opportunities through homeownership. Each LO is able to scale with a large portfolio of lenders available at their fingertips, top-of-the-line technology which allows them to work from anywhere, and dedicated Operations support with clear communication through each step of the loan. With LOs licensed nationwide, UMortgage is providing opportunities to create strong communities through financial literacy, support, and advocacy.

Those in the mortgage industry who survived the Great Recession and now find themselves navigating choppy waters fanned by inflation are worthy of some sort of honorific, it might be said. Perhaps even a moniker suggesting superhero status. Enter Rebecca Richardson, the self-described Mortgage Mentor dispensing helpful advice in her series of social media videos and via her blog. The Charlotte, NC-based mortgage loan originator with UMortgage describes her superpower on her website: “Most people only think about home financing a few times during their lives,” she writes. “I think about it every single day. It’s your home and your future. It’s my profession and passion.” There you have it. Seeking to learn more, Mortgage Professional America reached out to Richardson – and it didn’t require a signal in the sky to arrange a meeting. Through the power of the video conferencing platform dubbed Zoom, MPA was able to learn more about the mortgage maven’s trajectory. “I actually started originating right after college,” she told MPA. “I had worked for a financial planner and got bitten by that bug.” The financial planning world made for an easy segue into the mortgage field after prompting from a real estate broker connection. Entering into the unknown, she had a powerful ally: “Though I didn’t really know what I was getting into, my dad was a real estate attorney, so I definitely grilled him with questions,” she said. Some two decades later, the nationally ranked loan officer is as enthusiastic as ever: “I just like it,” she said. “It’s fast-paced, and it’s interesting. I’ve been doing it for 20 years, and I love it.” She survived the Great Recession through “perseverance and grit,” she said. The same attributes helped fuel her entry into the wholesale market in June after having spent years in retail – joining a growing trend in the process. According to the Association of Independent Mortgage Experts (AIME), of which Richardson is a member, 6,353 loan officers who left retail joined the independent mortgage community last year. In the first nine months of this year, per AIME, more than 7,000 loan officers converted from retail to wholesale lending. Another eye-opening stat: The wholesale channel has gained some 18,000 loan officers to date as of September – “a rate of growth in the wholesale channel we’ve never seen before,” one AIME executive told MPA. The shift has prompted a pivot, as loan officers act more like trusted advisors to their clients – particularly in light of the current economic climate. “It’s very compelling, particularly in market shifts like this,” Richardson said. “And also how technology, how marketing, has changed. It lends itself to being able to build more of an autonomous platform versus relying on the company brand,” she said. “And then you’re looking for that platform that offers the programs you need to be able to meet your clients where they are.” Instead of cowering amid a challenging market, she chooses to take a different tack: “Not to have toxic positivity,” she prefaced. “We have to be realistic of what the environment is. But there’s an incredible opportunity to take market share. It’s a natural inclination to shrink back or be scared or all of those kinds of things. This is when you really get to show your strength as a financial professional for your clients.” Like all who availed of the abundant low-hanging fruit of refinancing of the last couple of years, Richardson looks back on the halcyon days of 2020 and 2021 with fondness. But now it’s time to get back at it when the customer needs help the most. “Fantastic,” she said of ’20 and ’21. “Loved the volume. It was all great. But you did not have to work that hard at being that sharp at your skill,” she said. That was then, and this is now: “This is ‘how are you serving that client, what are those tools you’re bringing to help that client win in what can be already an emotional and stressful process’ but even more so because they’re questioning if they’re making the right decision and what’s going to happen next.” How brokers react is likely to separate the wheat from the chaff, she suggested. “Being able to give them some of those tools and that education and some of that flexibility,” she said. “We may not like where rates are, but ‘here’s a 2-1 buydown or here’s another strategy you might want to consider’ – and bring on both sides of that conversation,” she said, role-playing possible scenarios to offer harried customers intent on buying a home in a changed market. “We know homeownership is still a good move to make, even in light of current rates,” she said. “But then also understand where their heart’s at and giving them actionable steps and be able to speak to that,” she said of the posture brokers should adopt with their customers in a shifting landscape. Spoken like a true mentor – indeed, a Mortgage Mentor.

UMortgage is helping drive an influx of Loan Originators from retail channels to the broker space with more than 70 former retail LOs and 112 total LOs joining its platform in Q3 of 2022. While other companies continue with mass layoffs, UMortgage continues to support its claim to grow in a shrinking market. With rates continuing to increase month-over-month, total mortgage industry employment declined from 404,400 to 401,200 between July and August of 2022, according to a report from National Mortgage News. Recently, mortgage application activity has declined in tandem with a decrease in housing market demand. These factors have driven many companies within the mortgage industry to lay off staff members while retail Loan Originators sought out new opportunities to access more competitive rates and products. Despite this overall decrease in industry employment, reports found an increase of 800 individuals employed in the mortgage and non-mortgage brokerage industry between July and August, with UMortgage's weekly Discovery Meeting leading 10% of those individuals to the platform across those months. Bloated cost structures, an inability to compete with rates offered elsewhere, and outdated technologies have cut into profits for retail lenders and led to unsustainable lending practices within the channel. UMortgage has spearheaded a migration away from retail lending by offering its Loan Originators: Robust optionality with a growing portfolio of 20+ lenders and their entire suite of loan products Specialized Operations pods with Loan Processors, Coordinators, and Closers assisting throughout the loan process, led by a dedicated pod leader A fully web-based tech stack that is accessible from mobile devices and eliminates manual data entry Custom marketing materials to help grow individual businesses With these tools in hand, UMortgage is helping retail LOs towards a platform that is built to help loan originators thrive in any market. In Q3 of 2022, UMortgage welcomed more than 112 total Loan Originators to its innovative platform, upping its total number of LOs to 194. UMortgage plans for continued growth for the remainder of the year, with Q4 goals outlining a vision to onboard another 150 LOs by the end of 2022. If you're a Loan Originator looking to increase your business and help improve the standard within the mortgage industry, register for our weekly Discovery Meeting which happens every Thursday at 2pm ET.

These two things are not a contradiction: In 2022, the US mortgage market cooled dramatically and eliminated thousands of jobs in the process. In 2022, lenders and fintechs sensed an opportunity and jumped at it with gusto. The slowdown of the US mortgage market in 2022 has been dramatic, driven by inflation and rising interest rates that pummeled the refinance market and led to a big drop in new mortgage applications. There’s been some mild rebound in recent weeks, but purchase applications remain 30% lower and refinance activity is down 83% from last year’s highs, according to the Mortgage Bankers Association’s weekly survey for the week ending Sept. 16.

The social media app, TikTok, is expected to reach 1.8 billion users by the end of 2022; will you be one of them? Many mortgage professionals are turning to the platform as a way to connect with prospective borrowers and educate them on mortgages, as well as market themselves. We spoke to UMortgage Branch Manager Arielle Best, known as the VA Loan Lady on TikTok, about the platform and how best to utilize it as a mortgage loan originator. Best joined TikTok in2020 and today has 61.3k followers and 524.8k likes on the platform. She’s part of UMortgage’s “Lender Avengers” team, along with Rebecca Richardson (The Mortgage Mentor) and Nate Fain (The Mortgage Creator). “We’re on [TikTok] mostly to educate and provide information, it’s not necessarily a sales platform,”Best said. “We’re on there to provide accurate information, and if people want to use us, that’s awesome.” Using TikTok Best’s top three tips for loan officers using TikTok are to be your genuine self, keep it short and sweet, and “just do the video.” “Even if the first one sucks, you can only get better,” she said. “You can look at it and say, ‘How can I make this video better?’” She said one mistake she sees a lot of loan officers new to TikTok make is talking to the camera rather than through the camera to their audience. “Be your true self,” she said. “Act like you’re talking to friends when you’re explaining something, as if your best friend came to your house to ask you mortgage advice – talk to your phone like that.” According to Best, her biggest learning curves upon joining TikTok were learning how to use the app’s features and understanding what the algorithm was looking for when putting out content. “Putting out information – useful information –wasn’t gaining traction unless you made it less than 10 seconds, put catchy music behind it and put the words on the screen,” she said. “The biggest thing with TikTok is understanding how viewers want to consume the information, even if that information is something that’s important, getting it to where they’re going to see it.” She said the app’s algorithm is looking for “small bites of information that are useful, digestible and understandable, and in as short a time as you can provide it.” She also recommended learning how to organizeyour TikTok by using the playlists feature. Best has playlists for her Q&A Wednesday series, satire videos and true stories, among other types of videos. Playlists make it easier for your followers to binge your content and absorb all the information. When it comes to deciding what to make videos about, Best says she looks toward her commenters. “I always will go to my comment section, because those are the people that are looking for answers, are the ones asking questions,” she said. “I let them decide what I’m going to talk about.” “That’s another great thing about TikTok that I love– one person can ask me a question that is useful to so many people, and I’ll reply to that with the answer,” she said. “Then so many more people have that knowledge and information now that didn’t and wouldn’t have known where to find it, because the average borrower is not going to go dig through the chapter of a handbook to find information for their loan circumstance.” Best also recommends making videos on important news updates borrowers need to know about. Building a Brand In terms of building a brand, Best says it’s crucial to know your market and to combine your passion with what you’re already doing. As the VA Loan Lady, she specializes in VA loans because she’s passionate about helping veterans. “Build your brand around the things that you love to do, and then your brand comes to you a little more naturally,” she said. The best way to grow your audience is to post routinely, and be sure to cover controversial and often misrepresented topics by providing accurate information, she said. Return on investment Best said she spends less than 10 hours a week on her TikTok. “I’ll spend probably an hour today just replying to videos, and then editing and posting and kind of batch-dumping videos,” she said. What kind of ROI does she see for her time on the app? In April she had 400 people fill out inquiries and applications from TikTok. She posted a video in July that had more than 1 million views, and said that about 530 people reached out afterward. “It wasn’t all applications, but we had inquiries up above 500 for one video,” she said. “If I were to average, it’s no less than at least 150 to 200 either inquiries or applications a month.” Ultimately, Best said, the key to TikTok is to remember that your audience consists of real people you’re connecting with, rather than people you’re trying to pitch or sell yourself to. “You are there to educate and inform them oftheir options for financing,” she said. “Don’t sell yourself, be yourself.” Interested in seeing how other professionals use TikTok? Check out these mortgage and real estate accounts you should be following!

You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range. If it happens, the current origination forecast of $2.2 trillion in 2023 will look awfully rosy. Even the most battle-tested industry players are preparing for one of the strongest housing market corrections in decades. Federal Reserve chairman Jerome Powell sent a clear message during a press conference following the announcement of the central bank's decision to hike the federal funds rate by 75 basis points on Wednesday: the ongoing housing market correction, which brought the largest mortgage rates increase in four decades, is far from at its end.

While other companies have enacted mass layoffs and hiring freezes, UMortgage has revealed plans to hire more than 250 operations professionals over the next six months. The Philadelphia-based lender said it intends to grow its operations support staff and onboard new talent during its virtual open house event on Sep. 15, 2022. The announcement comes just a few months after hiring 52 loan originators last quarter, bringing its total number to 262 team members. “We’re trying to solve a big industry pain point with this event,” said Anthony Casa, president and CEO of UMortgage. “There are a lot of people unemployed in this industry. UMortgage is creating jobs, being efficient in the hiring process, and setting clear expectations on the standard we have for our client experience.” Casa will lead the open house, along with Sabrina Lopez, who recently joined the company as vice president of operations. During the event, they will discuss UMortgage’s business model, training opportunities for new operations team members, expectations for current available roles, loan process, value proposition, core values, and the team member support system. “What we’re looking for at our operations open house are individuals who are focused on the client experience,” Lopez said. “They are detail-oriented, have excellent communication skills, are advocates for the borrower, and understand the importance of making a difference each day in regards to how they interact with their teammates, loan officers, external partners, and the customer. Our operations team has to have a sense of urgency and must be committed to improving day over day.” The virtual event will be open to all loan coordinators, processors, underwriters, closers, or other seasoned mortgage professionals who are based in the US. The company said its need for greater operations is a “direct result of the influx of loan originators the company hired in Q2.” By the end of the third quarter, UMortgage plans to onboard a further 100+ employees.

Influencer marketing is working wonders for many businesses in today’s modern world. A research report from Lee Odden’s TopRank Marketing revealed that 86% of B2B brands have succeeded in boosting brand awareness and increasing sales through influencer marketing. UMortgage is keeping up with the trends by harnessing the power of social media to educate both consumers and loan officers on mortgage and homeownership. In June, the Philadelphia-based home lender welcomed three prominent TikTok influencers – Nate Fain, Arielle Best, and Rebecca Richardson – as part of its expansion strategy and for a greater marketing push to bolster its portfolio of LOs. In line with the new hires, UMortgage also launched Homeowner HQ, a virtual branch dedicated to educating prospective and existing homeowners across the country. “We approached Arielle, Nate, and Rebecca, not for their social following, but for their passion for educating prospective homebuyers about all of the nuances of the mortgage process,” UMortgage told Mortgage Professional America in an exclusive interview. “Our vision as a company is to educate consumers and people across the country on all the aspects of homeownership. “That focus on empowering others through education resonates with a very specific group of people in the industry, and Rebecca, Nate, and Arielle fit into that group. They use social media to increase accessibility to their educational efforts, which aligns with our vision of creating life-changing opportunities through homeownership.” The trio joined UMortgage after developing a large following on social media. Fain, also known as @themortgagecreator on TikTok, leveraged his 10 years of experience as an LO and unique personality to grow his following to nearly 250,000 followers and more than two million likes on the platform. “For the last year or so, Arielle, Rebecca, and I have sort of joked that we should form a team,” he said. “We all have different personalities, but we share the same vision. I think that’s the mark of a really great team. Our main goal is to educate and empower the public so they can make informed decisions when getting a mortgage. “UMortgage really bought into this crazy idea and vision that Rebecca, Arielle, and I have for our team. UMortgage’s technology and focus on client experience also fit our business model perfectly, which is really exciting.” Like Fain, Richardson also shared her extensive industry knowledge on TikTok with the goal of increasing accessibility to the housing market. Richardson’s TikTok profile @the.mortgage.mentor has more than 127,000 followers, and her Instagram account has another 10,000 followers. “We are able to contribute to the team and our individual clients in the ways in which we are uniquely gifted,” Richardson shared. “If there are areas that we struggle with, we are able to lean on other team members for support.” Meanwhile, Best (@thatonedamnginger) is focused on debunking myths and providing factual information regarding VA loans. Her specialized content has brought in over 58,000 followers and around 488,000 likes. “I started my TikTok channel because I wanted to start giving my knowledge directly to the people it affects, the Veteran and Active Duty Community,” Best said. “I never planned on using that platform as a way to earn business from Veterans and the Miltok community, but it happened. I knew I needed to find a new place to call home for my business because the reach and help I was providing was staggering, but there’s only one of me.” In addition to helping the company boost its presence online, Best, Fain, and Richardson will co-manage Homeowner HQ. “The great thing about Homeowner HQ was the unique experience they brought with them to UMortgage, but they have already been driving consumer education before joining forces with us,” the company said. “What we offer is a place to help grow and scale their business so they can focus on educating more consumers and people across the internet. Because of our focus on getting better every day, this transition has challenged us to continuously evolve our processes to greater support loan originators of every type.” When asked how it plans to use the platform to further expand its lending business, UMortgage clarified that its focus is actually on helping originators grow their businesses. “Rebecca, Nate, and Arielle all have a great client base that comes from social media. Our focus is less on telling them how to get the most out of TikTok,” UMortgage told MPA. “Rather, we want to provide them with the tools and resources they need to best serve their clients and those clients’ loans. “Are they not licensed in a certain state where a client is interested? We have a network of loan originators licensed across the country to help support that. Do they need more people on their team to help serve all of these inquiries? We’ll help them scale that. Do they need additional operations to process all of these loans? We have that, too. We offer all of our LOs an open door to our executive leadership team so that we’re always aware of the ways that improve our processes and best support our LOs and their clients.” Last month, UMortgage rolled out its ‘Partnership Playbook,’ which the lender described as a “continuously-evolving tool with strategies that some of our most-experienced LOs use to grow referral networks and give their clients and real estate agents the best experience possible throughout the home buying process.” “It’s provided an excellent environment that fosters growth and creativity while knowing we have the leadership and operational support to ensure our clients are well taken care of,” Richardson commented. “The overall strategy and purpose for our business is simple: creating life-changing opportunities through homeownership,” UMortgage said. “Just like all of our other LOs, Arielle, Nate, and Rebecca align with that purpose. Our target audience as a collective company is loan originators we can support. Our goal is to empower them to help all individuals who are interested in the personal and financial freedoms associated with homeownership.”

Today we’d like to introduce you to Kristi Gibb. Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started? In 2015, my husband, who is a US Army Veteran, and I were in the market to buy a home. We went to our bank to get pre-approved and then met up with our Realtor. He recommended that we get a second opinion from a local mortgage broker. We were sure our bank would offer us the best rate because it’s a Veteran-friendly bank. Instead, we learned that the mortgage broker could offer us a much lower rate and fees than the bank was charging. He explained that banks and retail lenders often charge higher rates and fees and then keep the credit attached to those rates as profit for themselves, rather than passing it on to the consumer. We wound up taking a job and buying a home in Utah. When we moved into our neighborhood, we became friends with someone who owned his own mortgage brokerage. Since our kids were getting older, I began thinking of what I could do for a career. My husband suggested I talk to our mortgage broker friend. One thing led to another, and I found my passion in helping people build wealth through homeownership with low broker rates and fees as a mortgage broker. We all face challenges, but looking back, would you describe it as a relatively smooth road? It has not been a smooth road. Though our friend is awesome, he was not set up to train a brand new loan officer or guide me on the path to success. I worked hard, took several online trainings, and hired a coach to help me learn what to do to gain referral partners and guide clients through a positive experience while getting their home loan. I was often tempted to quit as I went months without a paycheck, but I continued to do the work knowing that it had to pay off. My coach recommended that I switch brokerages to one that offered mentorship and support. I finally listened and found my second place of employment just as the pandemic unleashed on the US. My second boss offered training, support, coaching, and leads. I was able to refine my skills and process as I helped many families refinance or purchase their homes while I grew my business. My passion is helping our Veterans utilize their VA home loan benefit and educating Realtors and our community on what a great loan the VA loan is. I was surprised when I became a loan officer to learn that there are biases against it. People think VA borrowers are weak borrowers because they take advantage of the 0% down benefit, or that the loans take too long to close, and the appraisals always come in low. This is not the case. My first two bosses weren’t very enthusiastic about me pursuing mostly Veteran clients, so I decided to join forces with Jimmy Hobson at UMortgage out of Bountiful, UT. I’d been following him since I signed up with the Military Mortgage Bootcamp in 2019. He did the work and became one of the premier VA loan officers in the nation. I have finally found my home at UMortgage, where we offer low rates and fees, and share the same drive and vision that provides fast closings and excellent customer experiences. I’m privileged to be on the VA Extension team at UMortgage, where we will soon grow to become the biggest VA lender in the US. Our goal is to help as many Veterans as possible obtain homeownership without getting fleeced by big name lenders who charge high rates and fees and provide call-center level service. Now I teach classes to realtors and homebuyers about the VA home loan, and why it is such a great loan. My goal is to dispel the myths in our community that surrounds the VA loan and help VA buyers win more offers. I love the VA loan because my husband and I were able to use it to buy our first home. It was a huge help! I’ve done a lot of training on the VA home loan benefit and have become a Certified Veteran Lending Specialist through NAMB and a Veteran Mortgage Advisor through the Veteran Lending Council. I study the guidelines daily and seek to be a resource for our Veteran homebuyers and the realtors who help them. I love serving our Veterans. They inspire me to do my best. Can you tell our readers more about what you do and what you think sets you apart from others? I do all loan types, but my favorite by far is the VA loan. I’m a Veteran Mortgage Advisor, certified by the Veteran Lending Council, and a Certified Veteran Lending Specialist, certified by the National Association of Mortgage Brokers. I love demystifying the VA loan for borrowers and Realtors. It’s always exciting to me when I can help a Veteran access their VA home loan benefits especially after another loan officer has told them that they had lost it. It really matters who you work with. You want to work with someone who is very familiar with your loan program and can guide you through its nuances. The VA loan has the most flexible guidelines of all the loan programs. “Underwriters are encouraged to consider every possible appropriate factor in seeking a proper basis for approving loan applications for every qualified Veteran” (VA Handbook). I’m grateful to be on a team of VA loan officer powerhouses who can back me up if I’m not sure of the answer, or mastermind with me about different scenarios. I love teaching VA Myth Busting classes to the Realtors in our community and hope to change the stigma in Utah surrounding VA loans. What do you like best about our city? What do you like least? I love the different seasons in Utah. My family and I enjoy snowboarding, camping, rafting, and visiting the beautiful parks Utah has to offer. We also like watching movies and hanging out together. We’re pretty low-key most of the time. Pricing: Brokers saved borrowers $9407 in 2021 over retail lenders When you’re financing a home, check with a mortgage broker. Contact Info: Website: https://www.gibbhomeloans.com/ Instagram: https://www.instagram.com/kristigibbmortgage Facebook: https://www.facebook.com/kristigibbmortgage/ Twitter: https://www.tiktok.com/@kristigibb Other: https://www.umortgage.com

Tyler Carlston is a loan originator and mortgage broker with UMortgage, specializing in helping Veterans and active-duty military members utilize their VA home loan benefit. In a related development, Tyler has continued to expand his scope to reach more clients, enabling them to own homes without being subjected to high-interest rates by leveraging the access to wholesale rates from various lenders. “With my home and the majority of my business being in Military City USA, I take a ton of pride in making sure our nation’s heroes get taken care of properly when they are looking to use their VA home loan benefit. I always tell my clients that I have their six and that I am here to serve them. With that being said, the predatory retail lenders in town see a huge opportunity to profit on the backs of these Veterans and they take full advantage. I am here to put them out of business.”

Initiative aims to boost financial literacy among consumers throughout the country UMortgage has announced an initiative to provide training and educational materials to help consumers become financially well. The national mortgage company said that it will be hosting its inaugural Financial Literacy Week program from March 28 to April 03. The week-long program was designed to include, and extend beyond, home buying and mortgage-related topics to provide an immersive and well-rounded education. With four sessions per day, the program will cover topics such as investing, designing a career with money in mind, student loans, and several others. Commenting on the initiative, UMortgage CEO Anthony Casa said the goal is to “help fill in those gaps and power a greater sense of financial literacy among consumers throughout the country, especially people in underserved markets.” “Most educational systems in America, from elementary school through college, are putting people at a disadvantage by not making any sort of dedicated financial education courses a requisite part of their curriculum,” he said. “Whether it’s learning about homeownership or retirement, most people don’t have access to this curriculum until the time has either come or it’s passed - for us, that’s a big deal.” UMortgage’s learning and development team and other industry experts will lead the training in each topic area. Courses will be online and accessible to people of all ages and in every state.

Inaugural program a key pillar of company's mission to power financial literacy nationwide PHILADELPHIA, Feb. 22, 2022 /PRNewswire/ -- UMortgage, a fast-growing national mortgage company, will be hosting its inaugural Financial Literacy Week program from Monday, March 28 – Sunday, April 3. The week-long program is a major initiative of the nationwide mortgage lender, which has prioritized financial literacy as a key pillar of the service it provides borrowers nationwide. The program kicks off Financial Literacy Month, a nationally recognized campaign that takes place each April to bring awareness to the need for more financial education in schools and for adults. "Most educational systems in America from elementary school through college are putting people at a disadvantage by not making any sort of dedicated financial education courses a requisite part of their curriculum," said Anthony Casa, Chief Executive Officer of UMortgage. "Whether it's learning about homeownership or retirement, most people don't have access to this curriculum until the time has either come or it's passed - for us, that's a big deal. Our goal at UMortgage is to help fill in those gaps and power a greater sense of financial literacy amongst consumers throughout the country, especially people in underserved markets." As part of its Financial Literacy Week program, UMortgage will host four sessions per day, covering a broad range of topics that include investing, designing a career with money in mind, student loans, and several others. The program was built to include, and extend beyond, homebuying and mortgage-related topics to provide an immersive and well-rounded education. Training in each topic area will be provided by members of the UMortgage Learning & Development team, as well as subject matter experts from relevant industries, including GradFin, a student loan provider. Courses will be online and accessible to people of all ages and in every state. UMortgage's consistent dedication to powering financial literacy for the borrowers it serves is evident in its mortgage industry-leading Net Promoter Score (NPS) - a measure of customer satisfaction calculated based on the likelihood of respondents to refer friends and family to a company, product or service. The company currently holds a 93 NPS rating on a spectrum from -100 to 100. For more information on the courses that will be offered, and to register online, visit umortgage.com/financial-literacy-week.