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.