May 8, 2012: Mortgage jobs; agencies to limit counterparty risk? Elections & GDP; HARP & MI; HARP 3.0 on the way?

May 8, 2012: Mortgage jobs; agencies to limit counterparty risk? Elections & GDP; HARP & MI; HARP 3.0 on the way? Rob Chrisman

One never knows what is going to happen next here at the MBA’s National Secondary. One minute you’re meeting with a team of smart investment bankers about their jumbo product, and five minutes later, on 50th Street, you come upon Ben Stiller in a gray trench coat and a skateboard filming “The Secret Life of Walter Mitty.” (Almost as entertaining as delegated underwriting!)

Speaking of video, we now find more than 50% of internet usage focused on video applications. LO’s, lenders, and vendors are providing video content, and book ads for LO’s (see paragraph near bottom). As an example, FNC, a national appraisal software company in Mississippi that standardizes, scores, and distributes collateral information, produces a weekly video: http://www.youtube.com/watch?vcbmrhQqac0Y. (My head spins at the amount of public collateral data information that they control.) Even the agencies are using video to get the message across: https://www.efanniemae.com/sf/kyo/wayshome.jsp and http://www.freddiemac.com/corporate/company_profile/fm_your_mortgage.html.

Independent retail mortgage banker On Q Financial is looking for an experienced servicing employee to establish a servicing function including but not limited to third party servicing oversight, internal short term servicing, reporting, auditing, and verifying compliance agency guidelines. Based in Scottsdale, On Q Financial, with 23 offices across the nation and approved to lend in a couple dozen states, is a Fannie Mae approved seller/servicer.  Previous experience in servicing and third party oversight is required, and experience in reviewing ledgers, reports, completing internal and external audits, and maintaining an active communication with management is strongly recommended. Candidates should send their resume to Renea Aderhold at renea.aderhold@onqfinancial.com. In the Washington DC metro area, 1st Portfolio Lending is staffing up and hiring processors and underwriters for offices in Vienna, VA and Bethesda, MD.  Ideal candidates are those looking for work in an innovative positive environment.  1st Portfolio Lending is an independent, privately-owned direct mortgage lender focused on providing exceptional service to its residential mortgage customers in Virginia, Maryland, the District of Columbia, Delaware, North Carolina and Florida. For more information on the firm, visit http://firstportfoliolending.com/, and those interested in submitting resumes should send them to Barbara Evans at bevans@firstphc.com Does the industry, and the borrower, need a  HARP 3.0? That is a loaded question, and to detailed to discuss here but you can read some thoughts on it at