American Pacific Mortgage for Mortgage Brokers


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  • It’s November 2009 and you’re still in the mortgage business…much of what used to be your competition isn;t
  • These guys need you. Realtors need competent, knowledgeable Loan Officers.
  • You can still do loans that the big banks won’t or can’t do. You are a better advocate for your clients than the big banks are.
  • With the exotic loan products gone from the market, you can feel good about the loans that you sell to your clients.
  • The combo of low home prices and low rates make this an incredible buyer’s market.
  • Find out what else they think is good about being a mortgage broker today
  • Let’s look at the bad stuff about being a Mortgage Broker in November 2009
  • Many wholesale lenders have gone out of business; the lenders that are left are cutting programs and cutting brokers
  • Broker is a dirty word
  • Realtors want commitment letters from direct lenders, not approval letters from brokers
  • Housing inventory is low, and will stay low.
  • It’s a problem of liquidity. Banks only releasing properties at the rate they earn revenue to cover the losses that they incur when they put the losses on their books
  • As an independent, it is up to you to navigate the regulatory storm in your own.
  • Find out what else they think is good about being a mortgage broker today
  • So what’s coming next? Is there light at the end of the tunnel? YES
  • Unfortunately, it’s a train.
  • RESPA reform is coming. Brokers will not be able to earn YSP…it is paid to your borrower. This sets up an unfair competition between banks and brokers.
  • Barney Frank, Chairman of the Financial Service Committee in the US House of Representatives, wants to eliminate variable compensation for mortgage brokers. HR 1726
  • Wholesale is going to continue to recede, leaving mortgage brokers stranded.
  • There are three big challenges that Independent Mortgage Brokers face in November of 2009
  • A shrinking lender list. Until warehouse lenders reacquire a taste for TPO business, wholesale lenders are going to continue to see their product offerings shrinking, and will continue to cut off brokers who don’t do enough business with them.
  • Attracting and retaining top talent as a Broker…the best loan officers know that they want to have access to a banking platform
  • Navigating the changing lending environment. Being successful at originating loans, recruiting and retaining loan officers, managing your employees and being responsible for keeping your eye on the horizon to guide your company through this market is a very difficult challenge.
  • We are American Pacific Mortgage; we’re a mortgage banking and branching company made up of over 150 branches across the Western U.S.
  • While other mortgage banks limit your funding sources to themselves and maybe one or two wholesale sources.
  • APM has an open platform. That means that while we want our branches to fund their good loans in-house, we also understand that you need a place to fund loans that won’t fit in our box.
  • There are a lot of mortgage lenders and banks who have recently opened up a branching division to combat the erosion of their wholesale volume.
  • American Pacific Mortgage on the other hand, has been branching for 13+ years. We have had the time to build a great team and put into place great systems.
  • APM’s platform is equipped to solve your 3 big challenges
  • Our solution for the challenge of the shrinking lender list in the broker world is to have an open platform which offers more wholesale options than any other mortgage banking company.
  • APM is a direct lender; that means all of our branches and originators are direct lenders. As a branch of APM you can satisfy Realtors demands for commitment letters from a direct lender. Because we are a direct lender, you put yourself back on an even playing field when you recruit top talent.
  • At APM, our executive management team keeps our eyes on the regulatory horizon so that you don’t have to. You have enough to do just operating a successful mortgage business.
  • Based on the three challenges: shrinking lender list, difficulty attracting and retaining top talent, and navigating the regulatory changes, and our solutions to those challenges, is there enough value for you to want to learn more?
  • American Pacific Mortgage for Mortgage Brokers

    1. 1. Life as a Mortgage Broker: November, 2009
    2. 2. the good stuff
    3. 8. what else?
    4. 9. the bad stuff
    5. 10. fewer lenders
    6. 16. what else?
    7. 23. 1.
    8. 24. 2.
    9. 25. 3.