Don’t Let TPO Scare You

Blog post was written by Dave Stephan, Inlanta’s TPO Manager. 

‘Tis the season for spooks and zombies, vampire and werewolves, and perhaps scariest of all, Third Party Originations (TPO) for your bank or credit union.  As the purchase market begins to wane, this is a great time to consider expanding your mortgage offerings and decreasing your origination expenses.

No doubt about it that TPO can be a frightening option, especially if your institution has never done a mortgage through the TPO channel.

Here are some of the most terrifying concerns about TPO and some answers that hopefully will lay your fears to rest!

  • I lose control of the transaction and my customer with TPO

A:  Not at all. With Inlanta’s TPO program, your originator remains the “face” of the transaction.  We take care of issuing disclosures, processing, underwriting, and closing docs, but the originator maintains all the contact (and cross-sale opportunities) throughout the process.

  • We never get a call for FHA, VA, or USDA

A:  it might be time to ask why that is.  Is your institution perceived as a full-service mortgage lender in your community and among your Realtor partners?  Inlanta provides marketing support as part of our TPO offering to help you.  Your competition is doing government lending in your community and with TPO, it can easily be you.

  • We don’t know how to originate a government loan

A:  As part of the services we provide, we’ll train your originators on the basics of FHA, VA, and USDA lending.  If they need a refresher, they can always sign up for one of our ongoing monthly training sessions.  Our staff will work with you each step of the way to ensure a great outcome for your borrower.

  • Our customers don’t want a loan that is service released

A:  You can’t have a customer for a loan you never do.  Offering FHA for first-time homebuyers is a great way to start a banking relationship on the deposit side.  If you’re not doing these loans, your competition is.

  • TPO will turn our loan officers into mindless zombies

A:  No, it won’t.

So, drive a stake through the heart of the fall and winter slowdown and howl at your competition as you conjure up more business for your institution!  Originate more and worry less.  Need more information?  Email me at davestephan@inlanta.com or call 262.754.6292 or visit our LinkedIn page.

Are You a Leader?

Leadership – It’s arguably the most important factor in a successful organization to ensure success, efficiency, and productivity. It is what makes each department and their resources work seamlessly and successfully together as one. Strong leaders produce strong teams that build strong companies and without leadership, even the best of company resources and top producers prove unsuccessful.

At Inlanta, we understand that great leaders are made, and that is why we are seeking top mortgage professionals that contain the strong desire to lead and are looking to take their career to the next level. We are seeking those individuals that possess the qualities of a successful leader and understand the harmonious relationship between leadership and success.

As our SVP of Business Development, Chad Gomoll, stated in an article for National Mortgage Professional Magazine,

“Leaders tend to have an innate desire to lead. They are self-starters who volunteer to spearhead the next group project, take on a new task or responsibility that doesn’t fall inside their usual scope of duties, and want to be more involved in the organization. They take initiative to get the job done and encourage others to follow their example. They also are quick-thinkers who recognize when decisions need to be made quickly and are unafraid of making executive decisions. But most importantly, they have the ability to help their team navigate through any situation that may arise.

Leaders are altruistic and have a servant’s heart. They put the needs of their colleagues first. They recognize that it’s not just about them, but the team and organization as a whole. They motivate others, enable them to do their jobs, and put in just as much effort as (if not more than) the rest of the team. When you show others that you are invested in their success and are willing to get your hands dirty right along with them, others will start to follow your example.”

So, are you a self – starter? A doer? A decision maker? Do you often put others first and direct their efforts toward the good of the company and their peers? If so, we want to talk to you.

Contact our SVP of Business Development, Chad Gomoll, directly at 262-439-4260, our RVP, Brian Jensen, at 630-927-0380 for opportunities in the Midwest, our RVP, David Williams, at 303-947-1960 for opportunities in Texas & Colorado, or, our Regional Production Manager, Kevin Laffey, at 913-645-4647 for opportunities in the KS, MO, and IA markets.

Inlanta TPO Team Attends Successful WBA Management Conference & Expo

Inlanta Attends WBA Management Conference & Expo – A Summary From Our TPO Manager, Dave Stephan. 

Inlanta Mortgage’s TPO division recently wrapped up our attendance at the Wisconsin Bankers Association’s 2017 Management Conference & Expo. I have written extensively in past blogs about the headwinds our community financial institutions face – rising compliance costs, rapidly changing technology demands, and merger pressure to name a few – and yet, as usual, I couldn’t help but be struck by the vibrancy and overall participation by our banks in Wisconsin.

As an exhibitor, however, I must confess that I do find myself occasionally less excited to attend a trade show than I should be – not so with this year’s Conference and Expo!  Participation was marked by a keen interest in finding solutions to stand up to those headwinds.  Even other vendors were expressing an interest in TPO as a value-add they could bring to their bank clients.

We were fortunate to have conversations with many bankers who have recognized the need to evaluate their mortgage lending operation in today’s purchase-driven market.  Without the perennial refinance activity we’ve seen over the last several years, each purchase transaction becomes that much more important.  Fee income and cross-sale opportunities are too valuable to turn away any new potential customers, so adding products like FHA, VA and USDA Rural Development using Inlanta’s Third Party Origination (TPO) platform were at the forefront of the talks we had.

Compliance was also part of those conversations.  Bankers are looking to be able to offer these products without yet another layer of complex regulations and ongoing training, which TPO can easily do.  We issue disclosures, process, underwrite, and draw closing docs while the TPO partner maintains the relationship with the borrower.

Ultimately, what we took away from the conference is that Wisconsin’s banking community is strong and healthy, and continues to find new ways to stay that way.  Lenders are understanding that traditional mortgage lending operations and TPO can be a complement to each other, each providing a different pathway for a borrower to achieve homeownership and strengthen profitability.