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With nearly 30 years of mortgage lending experience but a fresh perspective as Inlanta’s new Third Party Originations (TPO) Manager, I continue to be amazed at the resilience of our trade. In the last 10 years the mortgage industry has seen more changes and faced more headwinds than many industries do in a lifetime, and yet we are on pace to originate nearly two trillion dollars in 2016, the first time since 2012.

More encouraging signs are on the horizon – a robust purchase market with average prices finally edging above pre-2007 levels and the first increase in Freddie/Fannie loan limits in 10 years! The agencies announced that limits on a single family loan rose from $417,000 to $424,100 effective January 1, 2017.   While not a huge increase, the new limits are helpful as conforming rates generally are lower than jumbo rates and underwriting more consistent and flexible so a few more transactions will get done. No announcement yet on the FHA/VA side, but we should hear something in the next couple weeks.

While we do face some rate uncertainty and volatility in 2017, it appears the market fundamentals are relatively sound for a solid year of growth. Take some time to consider how your organization is poised to participate in the 2017 mortgage market. Some questions you may want to mull over are:

  • Are there any gaps in your current mortgage product offerings?
  • Do you currently originate any government loans? FHA or VA?
  • If you are in or adjacent to more rural areas, do you originate USDA RD loans or are you familiar with the program?
  • How has your mortgage area been dealing with TRID and the current regulatory environment?
  • Do you feel comfortable that you are on top of the latest mortgage regs?
  • How much time do you now spend on mortgage compliance and regulatory issues?
  • Do you have plans to grow your mortgage volume/department in the near future?
  • How do you feel about the technology your institution is using in the mortgage department?
  • Do you have a handle on the actual profitability of your mortgage area?
  • Is your mortgage production easily scalable?
  • Is your institution looking for more direct fee income?

If the answers to these questions leave you with concerns, Inlanta  Mortgage’s TPO program can help by providing services to help you efficiently originate FHA, VA, USDA and Conventional mortgages without the back office expense or compliance worries.  Always glad to answer any questions, just email me at davestephan@inlanta.com.

 

Article by Dave Stephan, TPO Manager at Inlanta Mortgage

Choosing Your Mortgage Platform

Choosing-Mortgage-Platform

Choosing Mortgage Platform

The mortgage lending environment has changed dramatically since the introduction of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. Financial institutions find themselves struggling to build or maintain in-house mortgage operations while managing to comply with all the new regulations. Many financial institutions are considering other options that increase income, reduce expense and improve their value offering. As the Third-Party Origination (TPO) Manager at Inlanta Mortgage, I have these conversations every day. From a high level overview, here are the three main ways bank executives can approach building a mortgage platform:

1. Create and build a comprehensive mortgage platform;
2. A complete third-party outsource of the majority of mortgage processes; or,
3. Operate as a hybrid of the first two. Outsource some products and processes while retaining others.

How Do You Decide?

Deciding which route to take depends on many factors. Does your organization have the ability to build a strong and compliant mortgage operation? I’m sure you can agree that building a mortgage platform takes money and expertise. For those that do not possess the necessary resources to build or maintain an in-house operation, outsourcing mortgage operations to an experienced organization is an increasingly attractive option. Of course, there is also the “hybrid” option that is somewhere between building and maintaining and in-house mortgage platform and completely outsourcing. Read my article from the July issue of Wisconsin Mortgage Banker to learn more about the options available to you: Choosing a Mortgage Platform

Inlanta Third-Party Origination

One of the options I discuss in the article is third-party origination. As the Third-Party Origination Manager at Inlanta, I help organizations evaluate the benefits of a TPO agreement. Most of Inlanta’s existing TPO partnerships grew from the simple fact that Inlanta’s TPO partnership program allows organization to reduce expenses, increase fee income and reduce compliance burdens. I invite you to contact me for more information on the Inlanta TPO program at garygrocholski@inlanta.com or call me at 262-754-6494.

About Inlanta Mortgage

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. The company has grown to 36 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency-approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta’s mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.