The Ice Bucket Challenge was created by the ALS Association in order to raise awareness and support for ALS, which stands for Amyotrophic Lateral Sclerosis, or Lou Gehrig’s Disease.
As of today, $100 million dollars has been raised by the ALS Association, this is 3,500% more than they raised this time last year according to Forbes.
These funds will go towards assisting people and their families who have been affected by this disease. Additionally, the ALS Association works to create public policy that responds to helping people with ALS.
We at Mason-McDuffie Mortgage raised almost $1,200 for ALS, and members of the executive staff agreed to take part in the challenge.
If you would like to donate to the ALS association, please visit their donation page, here.
“We are excited to expand our mortgage operations in Hawaii with the addition of new branches in Maui and Hilo. But more importantly, we are fortunate to have four professional mortgage bankers open these new locations. Sharon Robinson, branch manager, along with loan originators Patricia Ward and Tera Paleka will be our production team in Maui and Dennis Santiago will manage the Hilo branch. MMCD has a long history of doing business in HI and we are thrilled to have these highly competent and experienced HI loan originators on our team.”
-Marilyn J. Richardson, President and CEO of Mason-McDuffie Mortgage.
I have received quite a few emails from the field in regards to the Encompass outage that we experienced on Monday and Tuesday of this week. There are a lot of theories and articles flying around in regards to what actually happened, most of them calling it a “hack”. So I thought it would be good to share with all of you what we were told by EllieMae. The information below will be a tad bit on the “geeky” side but I will try to do my best to make it non-geeky.
The “Hack” in question was actually a DDoS Attack. DDoS stands for Distributed Denial of Service. What a DDoS attack consists of is hundreds, thousands, or hundreds of thousands infected computers (Called bots) sending thousands of requests per second to an internet site. The purpose is to saturate the site with traffic so that it is slow, crashes, or just simply becomes unavailable. In a real world scenario just imagine trying to get to Disneyland if everyone in California tried to go to Disneyland at the same time. Chances are you aren’t going to see Mickey anytime soon in that scenario.
The term “Hack” is being misused in these articles simply because the purpose of a Hack is to gain unauthorized access to a victims network. Now, sometimes a DDoS attack can be used in conjunction with a Hack, but EllieMae has stated that they have no evidence that anyone was able to penetrated their network. In short, all of our borrowers information was kept safe.
EllieMae’s explanation of a DDoS attack fits the facts of what happened over those two days for us. EllieMae has employed an external forensic team to help with their investigation. It is possible that this external team may uncover further information and I will relay that information to you as we get it. The number one concern we have as a company is and always shall be to make sure we protect the integrity of our customers private information. If you or any of your borrowers/Realtors are concerned, you can point them to EllieMae’s press release.
SAN RAMON (CA) — Marc Thompson, who has been originating loans in Davis, CA since 2006, has joined Mason-McDuffie Mortgage. He will be opening up their new Sacramento satellite office in Davis. “I wanted to make sure I partnered up with a company that was leading the path with not only compliance but also with state of the art service and technology. It was obvious from my first meeting with Dave Heard, that Mason-McDuffie Mortgage was a company leading the way in our industry,” he said. “We are thrilled to have a Loan Originator of Marc’s caliber join the Mason-McDuffie family. We look forward to Marc opening up our new office in Davis,” said Marilyn J. Richardson, President and CEO of Mason-McDuffie Mortgage. Prior to joining Mason-McDuffie, Marc worked at UMAX Mortgage. You can contact Marc at firstname.lastname@example.org or (530) 753-8800.
Today the CFPB’s new Ability To Repay / Qualified Mortgage (ATR / QM) regulation goes into effect for loans with an application date of January 10, 2014 forward.
We are ready!
The rule is complex and operationally challenging, and there are still many aspects that remain unclear. The investor market is still working through its requirements for documentation and its appetite for different types of loan products.
However, there is a simple way to be in compliance with this complex regulation – make QM / Safe Harbor loans. QM loans are presumed to meet all of the Ability To Repay requirements under the regulation, and Safe Harbor status protects the company from any potential frivolous legal actions from borrowers who later want to claim that they did not have an ability to repay the loan.
Mason-McDuffie Mortgage is ready for QM (Qualified Mortgage) and ATR (Ability to Repay), in fact – so are our Loan Officers. Our audit has shown that less than 1% of our closed loans fell outside of the QM standard, which was far better than the 20% mark shown with the other lenders. It’s important to know how your company will compare. Here at Mason-McDuffie Mortgage, we are happy to already be positioned for success in originating loans that meet the QM standard. Our operations and compliance staff are production oriented while navigating the challenges of new regulations in our industry. As an originator it is important to know that you work on a platform of success in these ever changing times. So you must ask yourself, is your company is ready for QM?
SAN RAMON (CA) —Joseph M. Sprecher, an experienced mortgage executive, has joined Mason-McDuffie Mortgage to drive expansion in Southern California. Sprecher will be based out of the Irvine branch at 9981 Irvine Center Drive, suite 200. “I am excited to join the management team at Mason-McDuffie and plan to recruit experienced loan officers to join us here in Southern California. There is a great family culture here that I am excited to be a part of. That along with the great programs and concierge support to the Loan Officers made this an easy decision for me,” he said. “We are happy that Joe Sprecher has joined our management team as SVP of Production. Joe is a seasoned mortgage executive who will be primarily focused on expanding our retail branch network in Southern California,” said Marilyn J. Richardson, President and CEO of Mason-McDuffie Mortgage. Prior to joining Mason-McDuffie, he worked for two years as the Southern California Regional Manager for Caliber Funding. He spent 23 years with Wells Fargo Mortgage in various managerial assignments. To contact him, please email email@example.com or call (805) 458-0678.
While other lenders try to force Loan Officers to lessen their Social Media and Website presence, in essence their brand, we at MMCD encourage it. Don’t get me wrong; I can understand why some Lenders take this approach and their reasons behind it. To put it simply it is due to some of the ridiculous regulations facing our industry and it is easier to force everyone into a tight box rather than to manage their individual brands. However, I feel there is balance that can be achieved with proper understanding and tools to manage them effectively.
The problem with forcing Loan Officers to water down their brand to fit into your own box is that all Loan Officers are not created equal. Their market, their customers, their workflow, and their branding will all be unique. Their creativity and marketing success will never truly have a chance to flourish in a “one size fits all” environment. This can also result in the Loan Officers not being able to stay up to date with current trends in technology, especially in regards to Social Media Marketing.
The last thing you want as a lender is for your Loan Officers to be behind the competition, which can result in them being less successful. Loan Officers are the lifeblood of a mortgage lender and without their success we are all going home to do something else. That is why MMCD’s Prime Services Group’s mission statement is “To put every Loan Officer in the best possible position to succeed.” In my opinion, encouraging our Loan Officer’s branding and creativity using a process based on balance, is a recipe for marketing success. A true “win” for everyone.
Jason C. Frazier
Chief Information Officer
To learn more about Mason-McDuffie Mortgage’s Prime Services Group, CLICK HERE
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