Risky Business

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feature S e c on da r y M a r k e t a na ly t ic s se r v ic i ng or ig i nat ion ORIGINATION "Whereas before, a client would submit an application and then have to wait for hours before [he or she] heard back from a loan officer, [the client] now gets a call back almost immediately from a loan officer, which improves the experience and enhances our business," Miller said. This model also removes the margin for error, which is necessary for a shop trying to remain compliant in today's watchful regulatory environment. Miller uses the current climate to guide him in his leadership post. He notes that having remained as the CEO of the company he started is becoming more rare, but it helps him keep his team focused on moving the company forward, especially as the refinance arm diminishes in the marketplace. Last year, the company pushed past the Lone Star State and expanded its platform nationally. "My No. 1 thing is: Where is there danger ahead, is there danger with rates rising, what does that do to our staff, the amount of space we need?" he asked. "How much will we increase our marketing budget and be able to maintain our business? The future is the purchase busiprogram where loan officers are in their industry was fully alness. If the refi [component] is trained to properly serve cuslowed, and now they put all gone, the business would be 80 tomers, while also maintaining these rules in and things are not percent purchase. During the compliance standards. allowed." good times, revenue will come "More now than ever, you Miller added: "We as CEOs, in, but you have to be thinking have to have the right people," knowing that we're accountable, how will it come in during the he said. "So I need to have the things are being put in place so bad times." best people. It's really about who that our employees are watching To keep the bad times at bay, do you have in charge of managthese things because our comhe employs the best team he ing the regulatory environment pensation is tied to that." can find, which some industry and who is accountable for that." For the meantime, he's keeping professionals are finding is not The program is working an eye on where he sees the most the easiest task right now. well—so well, that Miller has room for business expansion. "It's like those reality shows noticed other firms come to his "We see the purchase market where they give everyone the company to find suitable talent as an opportunity for growth," same ingredients and they say, and then recruit them away. It's he said. "Low interest rates and 'OK, go,'" Miller said. "We all much like the farm system built cost-effective home prices have have the same ingredients, we all into professional sports, except made buying a home more have a loan application, and we Texas Lending has quickly beattractive for potential buyers. have a loan product. It's really Receive a free subscription to MReport! in the origi- As a result, we've adjusted our come a major player just how we put those things nation space in its own right. strategy to focus more on this together andReceive a free subscription to MReport! what time . . . Ultimately, Miller knows that growing segment of the market." which makes the only difference all responsibility rests on his Texas Lending's strategy between the companies." revolves around building relationFor more information onshoulders, and he advocates for your free subscription, contact Jason Myers at 214.525.6700 or C-level pay to reflect C-level acships with builders and Realtors, For more Training—and information on your free subscription, contact Jason Myers at 214.525.6700 or countability. leveraging more TV and radio "Where the ads, and training some employees Retaining—Talent rubber hits the road, and they do these checks, to specialize in purchase loans. the ultimate person responsible "We see servicing loans as ith an eye on meeting the now is the CEO to make sure another opportunity for growth," demands of the regulators these things are met," he said. Miller continued. "More banks are and the consumer, Miller says "I think back to the early [days] reducing their servicing portfolios, his company has really set the and you have these CEOs and which creates an opportunity for standard for training employees nothing ever happened to them non-depository banks and lenders to be prepared for the current because what happened in their that have the ability to service climate. Texas Lending has instituted Texas Lending University, a companies and what happened residential mortgage loans." W news and strategies for the evolving mortgage market news and strategies for the evolving mortgage market april 2013 On Your Side: Mortgage On Your Side: Mortgage Banking News, Done Better Banking News, Done Better january 2013 Originations | Servicing | Analytics | Secondary Market Originations | Servicing | Analytics | Secondary Market Decoding Compliance As the industry becomes A bAttleground in cApitol hill's turf wAr, how will pArtisAn politics, presidentiAl pressure, And persistent policy struggles influence the The regulatory revolution is reinventing risk mitigation,mArket in 2013? and lending leaders are cracking 37 compliance code with remarkable innovations. the 47 57 37 O r i g i n at i O n Avoiding ApprAisAl pitfAlls 44 | The M Report origination servicing 47 Policy and Prophesies: Will More Regulation Boost Profits? new data demonstrates that S e r v i c industry standardization could lead to healthier revenue growth. analytics 57 i n g servicers sound off! Blueprinting Appraisal Reform. Why marshaling the right allies, approach, and strategic a n a ly t accountability measures are crucial catalysts to establishing effective housing policy. i c S sociAl funding's future in Housing 71 The Real Deal: Lending's Long-Term Outlook. Will the mortgage and housing industries stay on track for S e c O n da ry recovery, and how is the marketplace preparing for what's now and what's next? m a r k e t dAngerous enterprise 71 secondary market The Wealth Effect. Forecasts resulting from the Fed's recent Flow of Funds report hinge on perception becoming reality for today's consumers. Experts you trust. People you know. News you want. MReport brings today's housing finance headlines Experts know mortgage banking, News you want. MReport is why you can count finance headlines into focus. Youyou trust. People you know.and we know you, which brings today's housing on MReport into focus. You know mortgage banking, and we know you, which is why you can count on MReport to provide insight into the latest industry innovations. Committed to giving originators, servicers, and to provide insight into the latest industry innovations. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MReport believes it's time to think differently all lending professionals access to smarter perspectives, MReport believes it's time to think differently about the mortgage marketplace. Because the American Dream is evolving . . . are you? about the mortgage marketplace. Because the American Dream is evolving . . . are you? Subscribe now! Subscribe now! CallCall 800.856.8060 connect with usus 800.856.8060 or or connect with online at online at

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