Independent Banker - April 2017 - 60

Lender Life
online learning. There are so many
sources: Fannie Mae and Freddie
Mac, the Federal Housing Administration,
the Department of Housing and
Urban Development, and ICBA all do
a lot of training. Some of the larger
correspondent investors, vendors
and mortgage insurance companies
provide training on their programs
and products. Regulators also provide
training and information. The FDIC
just put out an outstanding, comprehensive
guide in a consistent format
(Affordable Mortgage Lending Guide:
A Resource for Community Bankers).
IB:
How should wellinformed
bankers
pass on that knowledge to
customers?
Haynie: Most mortgage customers
are not familiar with all of the
mortgage jargon, and a lot of what
you say will go over their heads. You
need easy-to-understand brochures
Mortgage resources
» ICBA Community Banker University: icba.org/
education/online-education-center
________________________
» The FDIC's Aff ordable Mortgage Lending
Guide: fdic.gov/consumers/community/
mortgagelending/guide.html
» Fannie Mae's Quarterly Compass Newsletter:
fanniemae/singlefamily/training
____________________
_______________________
you improve the customer's experience
with your bank. The result is
you'll make more loans. But you do
have to invest in that technology and
mortgage business.
IB:
With so much regulation,
some community banks
have given up on that.
Haynie: Unfortunately, that's true;
some community banks did get out of
the business. However, lately we are
hearing some say that they got out too
" Mortgage guidelines are so
complex now. Community
banks have to make sure
their staff are trained
and knowledgeable about
program requirements. "
-RON HAYNIE, ICBA
to send home with them that outline
the terms and defi ne the abbreviations
and acronyms. Likewise, invest
in a functional website that's more
than your hours and locations. Make
the effort to provide easy-to-access
content about the mortgage process,
and keep it current. Community banks
that enable the borrower to apply
online will have a competitive edge
over those that don't.
Community banks have a great
opportunity to leverage those customer
relationships here. Technology
helps you stay compliant. It also helps
soon and have realized that they may
have abandoned a good and profi table
line of business. If banks get out of
everything that requires training or
technology, what's going to be left?
Maybe, instead, you should invest
in a new loan origination software
system that automates the process,
provides online customer access and
improves compliance. Or seek out
other fi rms that can assist in the processing
and underwriting of the loans
but will still allow you to maintain the
customer connection. There's always
going to be regulation. Lending money
60 ICBA IndependentBanker April 2017
for a home-that's a way to cement
a customer relationship.
IB:
Why will borrowers
come to community
banks for mortgages?
Haynie: One, we're in the community.
We're connected, trusted and
work with local businesses, including
most local builders. Millennials
like that; after all, they like local
causes, farmers markets and small
businesses.
Two, we can offer a full mortgage
product line. This includes mortgage
programs that meet a variety of borrower
needs to smooth the process.
For example, some folks like to deal
online rather than walk into a branch.
Okay: With D&H Mortgagebot, a community
bank can offer the same kind
of online and mobile technology as
some of the largest national lenders.
Three, we have great personal
service. Mortgages are complicated
and stressful, so people want to work
with someone they know. And even
if they do everything online, they like
feeling they can come in if there's a
problem, or they can drop off paperwork.
We're a comfort zone.
Ellen Ryan is a writer in Maryland.
+3.0%
Zillow's predicted rise in
U.S. home values,
Jan. 31, 2017-Jan. 31, 2018

http://www.qmags.com/clickthrough.asp?url=www.icba.org/education/online-education-center&id=20215&adid=P60E1 http://www.qmags.com/clickthrough.asp?url=www.fdic.gov/consumers/community/mortgagelending/guide.html&id=20215&adid=P60E2 http://www.qmags.com/clickthrough.asp?url=www.fanniemae.com/singlefamily/training&id=20215&adid=P60E3

Independent Banker - April 2017

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