National Mortgage News reports that the industry added jobs in November, the first time it has done that since July. 200 new full-time employees entered the business, according to the U.S. Bureau of Labor Statistics, which reports that there are now 255,700 people working in this sector.
But the government reports that it’s not mortgage bankers adding to their ranks, but rather mortgage brokers, a breed of worker some have written off as endangered.
National Mortgage News reported that the jobs report “disappointed analysts who were looking for a sign that the job market had finally turned the corner.”
I’m no analyst, but I find this encouraging news for our industry. The brokers are the first to leave when things turn bad and lenders tighten up credit. They are also the first to return when there is money to be made lending. Perhaps this is a harbinger of better things to come.
One of the reasons that we blog at RGA is because we advise our clients to blog. Well, what I mean to say is that we blog at RGA for the same reasons we tell our clients to blog, because it’s a great way to let people know what you think, which will always start a few conversations, which will lead to relationships. I’m a big advocate of public relations and marketing firms doing what they advise their clients to do.
That’s why you’ll see us launch a new custom publication in a few weeks. In fact, Matt Strickberger is working on it now and I expect it will rival any publication in the space. Not that we’re trying to do that. We’re really trying to add some real value to our existing clients and this will do it. But that’s not the point. The point is that we tell people to do something for their own good and they should expect to see us do it for our own good.
We’re not the only company out there helping firms produce their own publications. Imagination Custom Publishing and Content Marketing in Chicago is another. They don’t work in our space, but they are drinking their own Kool-aid. They’ll be launching a new publication for marketing pros this week, according to this story on their website. I’ll be checking it out. If I see some value I’ll recommend that my clients read it, which means I’ll have to read it. Let’s hope they do a good job.
Nationwide Title Clearing, Palm Harbor, Fla., has officially launched a new version of its popular ReleaseLINK software. Version 2.0 offers greatly improved features and functionality for the company’s clients, according to the firm.
ReleaseLINK 2.0 offers the following enhancements, which are automatically available to NTC lien release clients:
1. Exception Handling Queue
a. Exception Categories. New filters allow the user to view categories of exceptions at a glance, such as Chain of Title Exceptions, Data Discrepancy, Exceptions Requiring Research, Incomplete Initial Order, etc. This helps sort and handle related exceptions together.
b. Expanded Exception Types. This extensive list reflects the exact array of missing information, such as Recording Info and Legal Description, Legal Description and PIN, missing Assignment, etc. You can sort and filter by any exception type. Clients can also define which types of exceptions will appear on ReleaseLINK for them to process. This is especially helpful if auto-research is enabled on certain types of exceptions and one does not want to approve each research file.
c. Clearing Exceptions by Type. When you select “Edit” on a loan in the queue you will see a window unique to that specific exception type. It shows what is missing and gives you a tool to clear that type of exception as well as options to submit that type of exception back to NTC for handling. Types of exceptions can vary widely in regard to what is needed to clear them, as well as what type of research options may be applicable. With ReleaseLINK 2.0, you can easily address all types of exceptions.
2. Other Enhancements
a. Import Loans. You now have the ability to import loans from an excel spreadsheet directly into ReleaseLINK for Full Order Entry or Partial Order Entry.
b. Input By Field. When an order is placed in the system, the Process Queue now displays the user who entered the order, easily distinguishing between NTC employees and client entry.
c. Rush Orders. You can select Rush processing when entering an order that needs immediate processing.
d. Delete. You can now delete an order from the ReleaseLINK Full Order Entry or Partial Order Entry queues.
e. Input Notes and Instructions. You can now enter a note when you place an order or perform full entry to relay key information to NTC regarding that file.
f. Loan Count in Queues. You can now see a count of how many loans are in each queue (Exception Queue, Full Entry Queue, Place Order Queue, QC Queues, etc).
g. Unlock Orders in ReleaseLINK. When a loan is mid-entry in the ReleaseLINK system it is occasionally locked by the system. As necessary, you now have the ability to unlock a loan, even if you were not the original data enterer.
h. Upload Images. When you enter an order you now have the option to upload an image that corresponds to the order.
i. Upload Legal Description. You can now upload an image of a lengthy legal description instead of having to type it out.
j. County Requirements at a Glance. If there are unusual or special requirements for a particular jurisdiction a hyperlink appears at the top of the entry screen to provide additional details.
k. Interface Improvements. Many user requests and features have also been addressed to save input time and enhance user experience.
Over the past couple of years, I’ve watched a number of companies in our industry move carefully into new media. Now, we have a few good industry bloggers and we’re beginning to see some corporate Facebook pages. All good. Starting is half the battle, but how do you keep it going?
That’s the general topic I hope to fully explore in my new column in Scotsman Guide. How can you keep that blog fresh and, above all, valuable your readers? I have some ideas on that and every month I’ll provide one to readers of that publication. The first one came out recently in the January issue.
While this column is primarily intended for front line loan originators, it can also be useful to anyone trying to get a handle on New Media strategy. Check out the column online or download the PDF version.
What will 2010 hold for your company? While many around the industry are too realistic to start planning their coming-out-of-the-downturn parties, we are seeing plenty of positive signs that this year will not be as dismal as last.
For instance, Barclays Capital recently predicted that investors will begin returning to the secondary market by the second half of this year. That will be a welcome development for lenders.
Technology vendors are also showing signs that they expect 2010 to be a better year. Irvine, Calif.-based Loan-Score Decisioning Systems, a provider of enterprise-class decision management solutions for the financial services and banking industry, recently announced that it is looking for a mid-level developer to help manage rapid client growth.
Loan-Score is a dynamic, fast-growing software firm specializing in lending automation. The company serves mid-size to large mortgage banking firms, community banks, and credit unions throughout the United States.
Specifically, the company is seeking an integration specialist to be responsible for all LOS and third party integrations. Candidates must be able to work out of our Irvine, California location.
The company is seeking a mortgage industry veteran with 3-5 years of programming experience in C#, ASP, ASP.NET, SQL Server, and Web Services as well as experience integrating with standard mortgage LOS platforms and 3rd party mortgage applications. MISMO standard experience is a plus but not necessary.
If you have the qualifications, send a request for more information (along with your resume and salary requirements) to info@loan-score.com. Find out more about the company on its website.
Those of you interested in doing a better job promoting yourselves should contact us as we’re in the process of adding clients, thanks to our success in bringing Matt Strickberger on board. Those of you who want to handle this in-house but need another hand should also contact us as we know of a great PR/marketing pro who is currently looking for a position with an industry firm.
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