Home Buyer Needs – Then vs. Now

Today’s standard home buyer looks a lot different than that of yesterday’s. Along with changes to what the traditional home buyer looks like, home buyer needs have also changed dramatically over the years.

What are their needs now? Let’s continue to evaluate the 2018 homebuyer.

Then vs. Now

According to a Realtor.com video on how buying a home has changed in 30 years, our median buyer today, at 44-years-old, is significantly older than the 33-year-old buyer of 1985. The percentage of married couples buying is also down from 81% to 67% with single female buyers dominating as the second largest demographic of homebuyers at 15%.

Today’s desired home also looks different than that of yesterdays. In 1985, buyers sought out 1,600 square foot 1-story ranch homes with 3 bedrooms and 1 bathroom. Today, buyers are looking for a little extra space in their homes coming in at a median range of 1,900 square feet for a 2-story traditional home containing 3 bedrooms and 2 bathrooms.

As far as homebuyer needs go, wood-burning fireplaces, carpeting, and laminate countertops were a must have back in 1985. Today, buyers seek central air conditioning, hardwood floors, stainless steel appliances, and open kitchen concepts.

Sure, home buying and home buyers have changed a lot over the past 30 years. The question is, have your mortgage programs and platforms changed to meet these needs?

Has Your Mortgage Platform Evolved?

Are you still stuck in the past offering mortgage products that only cater to a traditional homebuyer?

If your institution’s mortgage lending program is looking to evolve, Inlanta’s Third Party Origination (TPO) program can help you take advantage of every mortgage opportunity, including FHA, VA, and USDA Rural Development and help your business survive in today’s competitive marketplace.

Evolve your mortgage business today with an Inlanta TPO partnership! Need more information?  Email our TPO Manager, Dave Stephan, at davestephan@inlanta.com or call 262.754.6494 or visit our LinkedIn page.

Truth in Testimonials – Hear What Our Employees Have to Say

Have you ever read a great restaurant review that actually swayed you to go there? How about a negative review that made you question using a certain brand, product, or service?

In today’s world, online reviews are considered just as important as personal recommendations. That is why here at Inlanta, we take our reviews seriously and we understand that there’s truth in testimonials.

While we’d love to spend some time giving you our own testimonial on what makes Inlanta great, we’d rather have you hear it from our team members themselves.

Take this testimonial from one of our newest Branch Managers, Sean Reilly, for example.

Sean says, “My experience with Inlanta has exceeded expectations. I’ve worked for a wide range of companies, from a big bank to a small correspondent lender to a large direct retail lender, and one theme has been consistent: processing/underwriting is a struggle. What I’ve been most impressed by with Inlanta is not how easy everything is, but how helpful, responsive, and responsible the processing and underwriting teams have been. Instead of passing the buck back to me, they actually talk to the customer, find solutions, and save us all time and stress. It’s a novel concept, one that I’ve been asking management teams to implement (in vain) for a decade. I’m glad it’s not an issue at Inlanta!”

For more of our truthful testimonials, we encourage you to watch the above video, visit our pages on Glassdoor and Indeed, and reach out to us (or any one of our Branch Managers) to find out what it’s really like to be on Team Inlanta.

If you’d like to know what our customers have to say, please visit our Google+, Facebook, Yelp, SocialSurvey, or Zillow profiles.

You can also contact our SVP, Chad Gomoll, directly at 262-439-4260, our RVP, Brian Jensen, at 630-927-0380 for opportunities in the Midwest, or, our Regional Production Manager, Kevin Laffey, at 913-645-4647 for opportunities in the KS, MO, IA, and NE markets.

Meet Today’s Home Buyer

The Evolution of the Home Buyer

The typical home buyer has certainly changed over the years. From then to now, as the mortgage industry, process, and programs have greatly evolved so has our buyer.

Let’s take a look at today’s traditional buyer below.

Meet Today’s Home Buyer

Based on an infographic from the National Association of Realtors (NAR), today’s first-time buyer is waiting longer to purchase a home – at 32 years old, today’s buyer’s age has reached an all-time high over typical past buyers.

Our buyer’s household income is now on average $75,000 and the median purchase price comes in around $190,000.

Another interesting fact from the infographic shows that today’s first-time buyer is typically only putting 5% down on a first home as opposed to the traditional 20% down payment options of the past. This is likely due to new loan products and programs that offer low down payment options and down payment assistance.

41% of today’s buyers are also, unfortunately, carrying student loan debt averaging around $29,000. Student loan debt has been a major roadblock for buyers today and a hot topic in the industry as many are so stressed by debt that the thought of taking on additional debt with a mortgage loan is intimidating. The debt is also causing buyers to struggle with saving for a down payment making non-traditional loan products and down payment assistance programs all the more important today.

Has Your Mortgage Platform Evolved?

Are you still stuck in the past offering mortgage products that only cater to a traditional homebuyer?

If your institution’s mortgage lending program is looking to evolve, Inlanta’s Third Party Origination (TPO) program can help you take advantage of every mortgage opportunity, including FHA, VA, and USDA Rural Development and help your business survive in today’s competitive marketplace.

Evolve your mortgage business today with an Inlanta TPO partnership! Need more information?  Email our TPO Manager, Dave Stephan, at davestephan@inlanta.com or call 262.754.6494 or visit our LinkedIn page.

Inlanta Mortgage Promotes Paul Buege to President

 Original press release from PR Web

Inlanta Mortgage Chairman, John Knowlton, announced the promotion of Mr. Paul Buege to the role of President.

Mr. Buege is currently the Chief Operating Officer and will continue those responsibilities. Nicholas DelTorto will remain as CEO. “I am proud to announce Paul’s promotion to President. It has been a privilege to work with and get to know him over the past five years. Paul and his team have developed a premier service platform for our loan originators and consumers. He is dedicated to Inlanta and the continued growth and success of our company,” Knowlton said in a company statement announcing the move.

“Our senior management team has positioned us for a solid future. We have worked together for many years and that continuity in leadership translates into a consistent focus on improving our platform, performance for the branches, and highest level of progressive services and technology for our referral partners and consumers,” said DelTorto.

“Paul has done outstanding work in developing a sales and service accountability culture at Inlanta. Our ‘mortgage banking for grown-ups’ approach allows the true mortgage professional to operate using their personally developed skills to build on their success,” Knowlton adds.

Inlanta announces this move as they celebrate 25 years in the mortgage business. “We are very proud to celebrate our 25th anniversary this year. In a business where so many have come and gone, Inlanta is looking forward to serving our customers and referral partners for many years to come,” Knowlton said.

About Inlanta Mortgage 
Headquartered in Pewaukee, WI, Inlanta Mortgage was established in 1993 and is celebrating its 25th anniversary in 2018. The company has grown to over 40 branches in 20 states and over 250 employees. Inlanta Mortgage’s mission is to be the home financing partner that you trust to serve your family, friends, and community. Their team of dedicated mortgage professionals is committed to delivering an exceptional experience using honest and ethical lending practices.

Inlanta Mortgage was named a Milwaukee Journal Sentinel Top Workplace in 2014, 2015, and 2016. Inlanta has also been recognized as one of the “50 Best Mortgage Companies to Work For” by Mortgage Executive Magazine and one of the country’s “Top Mortgage Employers” by National Mortgage Professional.

Inlanta Mortgage continually seeks branch managers and loan officers who want to grow their business. To learn about growth opportunities, please contact Brian Jensen (Midwest) at brianjensen@inlanta.com or 630-927-0380; or Kevin Laffey (Kansas, Missouri, Iowa, Nebraska) at kevinlaffey@inlanta.com or 913-645-4647. To learn about opportunities in other locations, visit http://www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Inlanta Mortgage, Inc. NMLS #1016.

Seas the Day! Cap Cana 2017 Rewards Trip Highlights

Seas the Day! That was the motto of our 2017 Inlanta Mortgage Rewards Trip and our attendees lived it to the fullest during their time in beautiful Cap Cana, Dominican Republic.

Cap Cana Day 1: Saturday, February 17th

Most of our group arrived to the crystal-clear waters and white sand beaches on Saturday, February 17th with the exception of a few guests arriving early to enjoy some extended well-deserved relaxation time. After getting settled in and enjoying dinner in paradise, it was time to get the party started! Many group members met in the lobby bar to enjoy cocktails and live entertainment from local musicians. Late-night partiers closed out the evening at Desires Night Club dancing the night away.

Cap Cana Day 2: Sunday, February 18th

No “Sunday scaries” here! As the sun rose over the ocean on day two, our trip attendees spent the day blissfully enjoying the resort amenities and natural scenery. A large group attended dinner together that night at Himitsu, Secrets Cap Cana’s Japanese-themed restaurant. As the large group finished their meal, a smaller group grabbed a spot at one of the hibachi tables. It was then that Kevin Laffey, our Regional Production Manager, even got to try his hand at cooking on the grill!

Cap Cana Day 3: Monday, February 19th

Due to high winds and rough seas, the annual deep-sea fishing excursion that was supposed to take place on day 3 of our trip was canceled. Our fishermen, who were left high and dry, ended up spending the day in the pool, on the beach, or at nearby local shops. Not a bad plan B for the day if you ask us!

Around sunset, a pop-up market was assembled near the pool for resort guests to purchase souvenirs, such as paintings, jewelry, and other trinkets from local artists.

Cap Cana Day 4: Tuesday, February 20th

Our final full day in paradise concluded with an awards ceremony to remember. We rolled out the red carpet, lit up the room, and hired a “paparazzo” to capture photos of all our stars.

Inlanta Founder and Chairman of the Board, John Knowlton, kicked off the event with greetings of welcome and a big announcement – the promotion of Paul Buege to President of Inlanta. Paul received a roaring applause from the audience as he received the honor of his new role within the organization and well-deserved promotion. John Knowlton then invited Nick DelTorto, Inlanta CEO, to the podium to welcome Paul for his inaugural speech as President.

Nick continued on to emcee the rest of the event offering merited recognition to Team Inlanta employees for a solid year of hard-work. Inlanta 2017 MVP’s of the night included Cindy Laffey, Mortgage Planner and Branch Partner in Overland Park, KS; Yvette Clermont, Branch Manager in Green Bay, WI and Lakewood Ranch, FL; Jonathan Arnold, Branch Manager in Grand Rapids, MI; Christine Eichholz, Technologies Solutions Architect in Pewaukee, WI, and more!

Join Us Next Year

The rest of our time was spent walking along the pristine beaches gazing out at the crystal blue waters, soaking up the sun by the resort pool, enjoying some peace and tranquility at the spa, indulging in delicious food and drink, and exploring the DR with offsite excursions like thrilling ATV rides. Nights were filled with great company, island cocktails, lively entertainment, and dancing.

We are so proud of each of our rewards trip recipients and hope they enjoyed their vacation! Do these trip highlights have you dreaming of attending yourself? If so, don’t just dream it –do it! To learn more about joining Team Inlanta today, 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, or, our Regional Production Manager, Kevin Laffey, at 913-645-4647 for opportunities in the KS, MO, IA, and NE markets.

 

We Must Choose: Evolve or Become Extinct

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

I’m pretty sure when Charles Darwin was kicking around the South Pacific in the HMS Beagle back in the 1830’s, he didn’t think someone was going to write about his theory of evolution and mortgage banking some 190 years later.

While there is much to learn from Darwin’s theory, we know this – If something doesn’t continue to evolve, it can fail to grow and flourish.  At Inlanta, we’ve been building a theme for 2018 around evolution.  We’re fortunate to be on the horizon of our twenty-fifth year in business and throughout that time, we’ve been witness to our own growth and evolution as well as the industry around us.

Twenty-five years ago, there was no real public internet, no email, no LP or DU, credit scores were barely in use, and fax machines were pretty much the height of technology.  Paper 1003’s and verifications were the norm.  Dot matrix printers noisily churned out closing docs and a 30-Year Fixed could be had at a cool 8%…

While evolution is necessary, it also serves a purpose– survival of the fittest.  Countless ideas and companies have come and gone the way of the dodo bird in the last 25 years.  Much like the catastrophe that wiped out the dinosaurs some 65 million years ago, the Great Recession was a meteor that changed the path of the mortgage industry forever.  We saw the near extinction of the mortgage broker and wholesale lending, with large banks dominating the landscape.

But now, another twist. The regulatory fallout from the impact of the financial crisis has caused the largest banks to rack up approximately $138 billion in fines between 2010 and 2014 and, for the first time, non-bank originators are capturing more market share than their financial institution counterparts.  For 2018 and beyond, rising rates will mean even less refi opportunity and fierce competition for purchase business.

So, back to the earlier idea that if something doesn’t continue to evolve, it can fail to grow and flourish.  The question is, how has your institution’s mortgage lending program evolved?  Inlanta’s Third Party Origination (TPO) program can help you take advantage of every mortgage opportunity, including FHA, VA, and USDA Rural Development and help you be a survivor in today’s competitive marketplace.

Evolve your mortgage business with an Inlanta TPO partnership! Need more information?  Email me at davestephan@inlanta.com or call 262.754.6494 or visit our LinkedIn page.

Make your Passion your Paycheck with a Company that Cares

Are you a hustler? Do you believe in the value of hard work and that, with the right culture and commitment, it not only pays off – it feels good? Here at Inlanta, we genuinely care, believe in, and celebrate our hardworking employees and recognize that passion + hustle = reward.

Inlanta Mortgage has been helping mortgage professionals achieve the best work of their lives for more than twenty-five years. We seek well-rounded candidates that not only foster that entrepreneurial spirit and go-getter mentality but those that would fit in seamlessly with our family-like culture and care more about their community and serving others as well.

Passion is what sets us apart. Our passion to help customers achieve their biggest dreams and our understanding that we are all a part of something larger is the driving force behind our service mentality. That passion is what keeps us coming back to work, day in and day out, and always leaving wanting more.

We also believe in the power of momentum. As our COO, Paul Buege, said,

“Inlanta is a refreshed, invigorated company. We’re growing and expanding. We’re a winning organization with a sense of urgency and pride to always be better.”

So, are you driven by your entrepreneurial spirit, your passion, your call to be a part of something larger that serves others and your community? We’d love to talk with you and tell you more about what’s different here at Inlanta Mortgage.

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.

See You At The WBA Bank Executive Conference!

The Wisconsin Bankers Association Bank Executive Conference is right around the corner and we hope to see you there!

Stop by booth #50 and let us show you how to increase your mortgage originations volume and fee income while decreasing compliance worries and expense. When you partner with Inlanta Mortgage:

  1. You have access to Conventional, FHA, VA, USDA, and Jumbo Loan products
  2. Your institution originates the loan & maintains the relationship with the borrower throughout the process
  3. Inlanta Mortgage discloses, processes, underwrites, and draws closing docs
  4. Inlanta Mortgage compensates you under a fully RESPA compliant origination agreement

Let us help you originate more and worry less in 2018 with a Third Party Originations partnership. Looking for more information? Contact me today!

We look forward to meeting you!

Dave Stephan, TPO Manager

Aaron Kaczorowski, TPO Account Executive

Better Yourself and Business in 2018 With These Resolutions

2018 has arrived and there’s no better time than a brand-new year to build a brand new you! That’s why we’re taking the month of January to focus on smart ways to not only better yourself but better your business, too.

Better Yourself

  1. Make a New Year’s Resolution and Stick to It – There’s no better time than the start of a new year to leave bad habits in the past and set your sights on building a better you. Setting New Year’s Resolutions though, isn’t the difficult part… it’s sticking to them that’s tough. Check out these top ways to keep your NYR’s from the New York Times.
  2. Try Something New – It’s easy to get stuck in the same old regularly routine day after day, year after year. While having a routine is normal, stepping outside of your normal comfort zone and trying something new can help you expand personally in ways you never thought you could. Travel to a brand-new place in 2018, sign up for a class to learn a new skill or language, or, pick up a new hobby you’ve always been interested in.
  3. Make Wellness a Priority – Taking care of yourself through health and wellness initiatives is important in building a better you. Make a commitment this year to stick to a nutritious diet combined with an active lifestyle in order to keep you healthy and reduce the risk of chronic diseases. Ask your employer about any health and wellness programs offered to help keep you active at work and enlist in the help of your family and friends to help keep you on track.

Better Your Business

  1. Find your Why – Have you ever truly asked yourself why you do what you do? What is the reason behind your passion and what keeps you going at work? Sometimes, in the monotony of our daily routines, we forget our purpose and passion for our careers. This is why taking the time to sit and find your “why” can help generate a new energy and focus at work. Check out this Forbes article for 4 questions to help you find your purpose today to get started.
  2. Cultivate New Partnerships Every Month – If you’ve been in business for some time, there’s a chance you have already built strong partnerships that consistently keep you busy. While nurturing those relationships you have worked hard to build is important, working to build new partnerships each month can help you to grow your business and help more clients. Make the commitment this year to meet with as many potential business partners as possible and cultivate one new relationship/month to help your business boom in 2018.
  3. Write Down your Goals – Did you know that physically writing out your goals actually increases the odds that you will achieve them? If you’ve got goals and ideas in your head for where you’d like to be this year, write them down! Add deadlines and specific ways you will put your plan in place to achieve your goal. This will give you not only a destination but a road map of how and when you will achieve your greatest goals.

If you’re interested in growing your career this year as a mortgage professional, 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.

Here’s Why Your Institution Should Consider TPO in 2018

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

If you’ve been reading Rob Chrisman’s blog (and if you haven’t, you should), he’s made mention of many lenders recently that are having layoffs, losing agency approvals and/or searching for a buyer. Competition in the purchase market is fierce and refi’s can’t be counted on for any significant volume in the foreseeable future. Liquidity in the market is continuing to dry up as shrinking margins in the mortgage industry make further investments in growth less and less attractive.

Considering that some companies built for the single purpose of making mortgage loans are struggling, what does this mean for the community bank or credit union as we enter into 2018?

Most community institutions have absorbed the increased costs of Dodd-Frank, but with the MBA reporting that the cost to originate a loan in the first quarter of 2017 hit nearly $9,000, it may be time to take a closer look at the profitability of your mortgage operation.  Assuming everyone is not just paying their Loan Officers more, nearly all the increases can be attributed to increased compliance costs.

While it can be difficult to do a true stand-alone analysis, those metrics are key to understanding how (and if) your department is contributing to the overall profitability of your institution. Pondering that, using the MBA cost figure would generate about $1,000,000 yearly in expenses given a modest production of 10 units per month and the assumption of profitability becomes less apparent.

That same level of production, if run through a Third Party Originations (TPO) channel, would produce nearly zero back office processing and compliance-related costs. Because a TPO provider provides disclosures, processes, underwrites, and draws docs, virtually all of those costs that have contributed to the shrinking bottom line are eliminated.

Add in the fact that TPO allows you to bring in FHA, VA, and USDA RD to your product mix and the decision becomes even more apparent. TPO will quickly and easily decrease costs and increase your production and profitability. Originate more and worry less in 2018 with an Inlanta TPO relationship! Need more information?  Email me at davestephan@inlanta.com or call 262.754.6292 or visit our LinkedIn page.