Business, Free News Articles

LBA Ware CEO to Discuss Loan Originator Compensation Trends in Today’s Market at MBA Independent Mortgage Bankers Conference

MACON, Ga. -- LBA Ware(TM), provider of the leading automated compensation and sales performance management platform for mortgage lenders, today announced that its Founder and CEO Lori Brewer will be a panelist at the Mortgage Bankers Association's (MBA) 2019 Independent Mortgage Bankers (IMB) Conference, which will be held January 28-31 at the Hyatt Regency San Francisco. In the panel, Brewer will reveal definitive data that answers the question on everyone's mind, "Are lenders cutting loan originator (LO) comp?"

The session, "Managing LO Comp to the Bottom Line," will take place Tuesday, January 29, from 2:15 - 3:15 p.m. PT in the Bayview Room. Loretta Salzano, president of law firm Franzen and Salzano, and Lauren Patel, Human Resources Director at loanDepot.com, will co-panel the session with Brewer.

As part of the conference's Business Operations & Compliance track, the session will cover current business and legal challenges faced by many mortgage businesses - including declining margins, LO compensation trends and evolving roles requiring new skillsets and regulations complicating the compensation of LOs - and discuss possible regulatory relief on the horizon.

"2019 will be a challenging year for many independent mortgage bankers. Decreasing volume, increasing rates and unrelenting operational demands require lenders to be very diligent and strategic about their recruiting and compensation decisions," Brewer said. "I look forward to sharing insights on how lenders are adjusting LO comp plans to reflect market changes, and what lenders can do to incentivize more production while also streamlining efficiencies within lending organizations."

Also that day, Brewer will provide a demonstration of LBA Ware's flagship platform CompenSafe(TM) in the general session, "TechLive - Technology Solutions for the Mortgage Lifecycle," taking place from 3:30 - 5:30 p.m. PT in the Grand Ballroom. The session, led by MBA Chief Economist and Vice President of Research and Industry Technology, Michael Fratantoni, Ph.D., will provide a platform for the executives of six leading mortgage technology firms to show how their products are solving business problems for mortgage lenders. In this interactive session, attendees are invited to ask questions and participate in live polling.

About LBA Ware:

Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that are essential to the way mortgage companies operate. We are a trusted partner and play a key role in our clients' success by enabling them to motivate, incentivize and better leverage the human potential within their organizations. Our applications automate traditionally manual business processes for which an existing software solution does not exist, empowering lenders to create an integrated software environment that maximizes their productivity and operational efficiency.

For more information about LBA Ware and our software solutions, visit https://lbaware.com.

Twitter: @LBAWare @MBAMortgage #MBAIMB19 #mortgagebanking

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Business, Free News Articles

MQMR Announces Internal Audit Services Compliant with Fannie Mae Seller/Servicer December 19 Update

LOS ANGELES, Calif. -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that its Internal Audit services offering meets or exceeds the requirements for Fannie Mae seller/servicers to be in compliance with the December 19, 2017 Fannie Mae Selling Guide Announcement SEL-2017-10 update. The update describes mortgage lender internal audit requirements clearly with regard to independence and reporting lines, eliminating any perceived ambiguity from the current Selling Guide Eligibility requirements. Fannie Mae enforcement of the updated requirements begins July 1, 2018.

A trusted provider of mortgage lender and servicer internal audit services since 2011, MQMR has adapted its own policies and procedures to support the updated Fannie Mae requirements covering approved seller/servicers who "must have internal audit and management controls to evaluate and monitor the overall quality of their loan production and servicing."

"Fannie Mae has clarified beyond a shadow of a doubt that Internal Audit independence is an integral aspect of seller/servicer compliance," said MQMR President Michael Steer. "Given the costs and expertise needed to set up a fully functional internal audit program, outsourcing Internal Audit is probably the best solution, so the next step for mortgage lenders covered by this update is to begin evaluating Internal Audit providers immediately."

MQMR adheres to the very specific auditing standards established by The Institute of Internal Auditors, ensuring that every internal audit it conducts meets Fannie Mae requirements.

Further, MQMR Internal Audit services deliver the specific elements Fannie Mae requires, including:
* The risk assessment methodology used to identify the operational areas and functions to be audited and the frequency of those audits;
* The policies and procedures implemented to govern reporting to senior management and the remediation of findings; and
* The departmental and functional audit schedule for a minimum 12-month period, which should identify the areas subject to review during the current period and align with the risk assessment.

MQMR also helps its Internal Audit clients provide the following required documentation:

* A complete copy of the executed contract, or certified statement of work, between the vendor and Seller;
* The contract, or certified statement of work, which must include policies and procedures for auditing each function or department within the organization, and the reporting methodology and distribution;
* The procedures for how and when findings will be remediated and monitored; and,
* The departmental and functional audit schedule for the following 12-month period.

"We agree, as the Fannie Mae update highlights, that a key aspect of the independent Internal Audit is 'bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes,'" Steer said. "MQMR was founded on the belief that our industry does its best work with an unwavering eye on these principles."

For more information about MQMR Fannie Mae compliant Internal Audit services, go to: http://www.mqmresearch.com/services/internal-audit/ or send an email to: CompliantInternalAudit@MQMResearch.com.

For IMB Attendees:

MQMR executives are attending the MBA's 2018 Independent Mortgage Bankers (IMB) Conference, January 22 - 25 at the Ritz-Carlton, Amelia Island, Fla. If you'd like to set up a meeting about our Internal Audit services, or other MQMR services, drop an email to Info@MQMResearch.com.

About Mortgage Quality Management and Research, LLC (MQMR)

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements.

With 1,500+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader throughout the entire life cycle of the loan.

MQMR is viewed as an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

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Business, Free News Articles

Mortgage Capital Trading COO Phil Rasori Scheduled to Speak at the Independent Mortgage Bankers Conference

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that its COO, Phil Rasori, will be speaking on a panel session at the MBA's 2018 Independent Mortgage Bankers Conference on Wednesday, January 24, 2018 being held at the Ritz-Carlton in Fernandina Beach, Florida.

Session Title:
FINRA 4210: Developing Strategies and Finding Opportunities

About the Session:
The deadline for implementation of new FINRA margin requirements on mortgage bankers is fast approaching. And while there are numerous operational and legal hurdles to ensuring compliance, there also exist opportunities to improve efficiency and cash flow. In this session, participants can explore how the new margin rules will interact with their pipeline and MSR hedging strategies, as well as develop innovative responses to the rules that also improve their bottom line.

Time:
Wednesday, January 24
1:30 p.m. - 2:30 p.m.

Location:
Talbot Ballroom D
Ritz-Carlton, Amelia Island
4750 Amelia Island Pkwy
Fernandina Beach, FL 32034

Speakers:
Philip Rasori
COO and Principal
Mortgage Capital Trading, Inc. (MCT).

Phil Rasori is the Chief Operating Officer and a Principal at Mortgage Capital Trading. Mr. Rasori has over fifteen years of experience in capital markets operations serving lenders in the residential mortgage banking industry. At MCT, he manages the company's day-to-day operations and a team of over 100 employees dedicated to providing hands on support and coaching to clients. Mr. Rasori is the principal architect and developer of MCT live, MCT's online capital markets platform which has been recognized as Mortgage Technology's Release of the Year and one of Housing Wire's Top 100 technology platforms.

Al Qureshi
Managing Director, Analytics
Incenter, LLC

Al Qureshi as Incenter's Managing Director of Analytics, Al Qureshi leads our MSR, securities and whole loan analytics and risk management platform. Al has broad and deep technical expertise including the design of sophisticated valuation, hedging and risk modeling to support client risk management and compliance objectives, capital commitment and enhanced economic outcomes. Al brings almost 20 years of experience in mortgage and capital markets to the Incenter senior management team. Immediately prior to joining the company he served as Head of Mortgage Servicing Hedging and Hedging Analytics at U.S. Bank. He has also held MSR, Analytic Hedging appointments at JP Morgan, Merrill Lynch, and Diamondback Capital.

An archived webinar on MCT's along with additional information on MCT's website breaks down what the FINRA 4210 mark to market rule means for lenders. Visit: https://mct-trading.com/what-finra-4210-mark-to-market-rule-means-for-lenders/. The company will be holding meetings with interested companies at the conference. Contact MCT to arrange a discussion time at (619) 543-5111.

About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

# # #
MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

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Business, Free News Articles, Regional Events

Mortgage Capital Trading’s COO Phil Rasori to Speak on Secondary Marketing Panel at Independent Mortgage Bankers Conference

PALM SPRINGS, Calif. -- Independent Mortgage Bankers Conference (IMBC), Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing technology firm, announced that its COO, Philip Rasori, will speak on a panel session on the subject of investor base optimization.

About the Panel:
Growing your business ultimately means finding outlets for the variety of products you offer to borrowers. But what is the right number of investors? More importantly, how can you manage your investor base to ensure the best execution over the long term? Learn from a panel of experts on the art of optimizing your investor base and maintaining balance between the quality and quantity of your relationships.

Speakers:
* Phil Rasori, Chief Operating Officer, Mortgage Capital Trading, Inc. (MCT).
* John M. Hedlund, Chief Operating Officer and Managing Director, AmeriHome Mortgage Company.
* David Battany, EVP, Capital Markets, Guild Mortgage Company.

Session Information:
Topic: Optimizing Your Investor Base
Date: Wednesday, Jan. 25, 2017
Time: 2:45 p.m. - 4 p.m. Pacific Standard Time
Location: La Quinta Palm Springs Hotel, Fiesta Ballroom 2

MCT will be holding meetings with interested lenders while at the conference. Contact the company to arrange a discussion time at (619) 543-5111

About Phil Rasori:
Mr. Rasori is a recognized thought-leader in capital markets operations within the mortgage banking community. His areas of expertise include complex financial modeling, computational dynamics, and linear programming for operational optimization. He developed the ground-breaking mortgage pipeline hedging algorithms that form the foundation of MCT's HALO Program today. He has also pioneered several metrics that have become standard industry parlance, including "beta pull-through" factors.

In addition to banking clients, Mr. Rasori has consulted with GSE agencies and the U.S. Government on hedging best practices for community banks. Mr. Rasori has functionally led MCT operations since 2005 and ascended to his current role as COO in 2007. He is a graduate of the University of California, San Diego, and holds a B.S. in Management Science.

About MCT:
Mortgage Capital Trading, Inc. (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco and Charlotte.

MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!(TM), an award-winning real-time, trading and best-execution secondary marketing platform. MCT's LockCentral(TM) is the industry's largest outsourced centralized lock desk service. In addition, MCT offers a suite of tools and supporting guidance for MSR needs.

For more information, visit http://mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

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Alliances and Partnerships, Business, Free News Articles

OpenClose and MCT Complete New Integration to Optimize Loan Hedge Positions for Lenders

PALM SPRINGS, Calif. -- Independent Mortgage Bankers Conference - OpenClose(R) an enterprise-class, multi-channel loan origination system (LOS) provider, and Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing technology firm, jointly announced they developed an integration that eliminates manual intervention and streamlines the delivery of loan data to maximize hedging for lenders.

The integration works by automatically taking loan-level details that are originated and locked in OpenClose's LenderAssist(TM) LOS and then securely passing them directly to MCT to hedge. The entire process of obtaining critical data becomes very easy, with updates occurring every 15 minutes. This removes several steps in the data acquisition process, saving time, reducing errors and providing faster reporting.

"We worked diligently with the team at OpenClose to develop this connectivity between their LOS and our proprietary HALO hedging model, which now facilitates a much smoother, quicker way for us to obtain locked loan information from our mutual customers," said Chris Anderson, chief administrative officer at MCT. "We are continuing to expand our integration partner network in order to provide the best service and support for our lender clients. Over the past few years, MCT has significantly expanded our business services with technology being a key area, especially with the adoption of our web-based secondary marketing platform, MCTlive!"

The longer lenders are exposed to interest rate movements the more prone they are to have locked loans without hedge positions. As a result of the integration, MCT is able to hedge more frequently as opposed to having the lender manually send pipeline reports to them. The automatic updates are performed every 15 minutes which provides a tangible reduction in risk by shortening the time period between rate locks and hedge positions.

As it relates to lenders, there isn't anything that they have to do to enable the new integration. MCT performs the heavy lifting and all parties benefit from the resulting efficiencies gained. OpenClose and MCT worked closely together from a technology perspective to streamline the process.

"This integration saves my staff valuable time and transfers our data quickly and securely, ensuring that my hedge positions are always optimized," says Dan Beam, senior vice president of capital markets at Firstrust Bank. "Both OpenClose and MCT are forward-thinking companies that recognize the importance of investing in enhancements like this for the benefit of lenders."

"A key common thread between our organizations is an unwavering commitment to always provide excellence in customer support," said Vince Furey, senior vice president of lending solutions at OpenClose. "We are also like-minded in that we are both very selective about the organizations we partner with.
OpenClose is pleased to expand our technology relationship with MCT."

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose's core solution, its LenderAssist(TM) LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform.

The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.

OpenClose Twitter: https://twitter.com/openclosesocial

About MCT:

Mortgage Capital Trading (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco and Charlotte. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!(TM), an award-winning real-time, trading and best-execution secondary marketing platform.

MCT's LockCentral(TM) is the industry's largest outsourced centralized lock desk service. For more information, please visit www.mct-trading.com or call (619) 543-5111.

MCT Twitter: https://twitter.com/mcttrading

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

This news story was published by the Neotrope® News Network - all rights reserved.