It has really hit this morning that we only have 4 days left of our fiscal year and how different this March has been from the previous two Marches'. Though, I pray we get as good results from year-end audits!
Summarized below are the results of some meetings I had yesterday:
1. Tuesday Morning meeting with Prod/Ops supervisors and exceptions; Compliance and Corporate Branch also attended. Due to a conflict, the meeting was cut short, and I failed to take notes. As I remember, we discussed the new processes surrounding the elimination of <580 manual FHAs and upcoming processes with AUS. We will pick this meeting back up
2. Bryon: we discussed...
possibility of all 550 and below FHA Manuals being underwritten by one underwriter with a review by Bryon
tougher underwriting standards to further eliminate the possibility of problem loans
elimination of level 2 and 3 suspense files; these files will be declined and given to Sales
AUS procedures...I am waiting on responses from a few people on this subject
new underwriting and closing procedures
AUS files are going to put us in a new state of operations
manual underwrites over 580; assigning one underwriter to these files
begin a "May 15th" mentality NOW
how ProLender enhances some of the new processes we discussed
3. Bryon/David/Brandi: Front-End Compliance. Changes coming about in this area will be announced.
4. Discussions with Jason:
GMAC's credit score hits are regardless of AUS approval
We are taking the Higher FHA Loan Limits on a case by case but we still have only one investor to purchase these loans
We are getting quite a few loans being registered. One thing that was not considered when we required the <580s to be registered by this Thursday was the Lender B loans that are also registered. This will make it more difficult to know our <580 pipeline on Friday.
5. Chas/Paul:
setting Pull-Through benchmarks for AEs on the AUS files
what this is all going to look like on May 15th and to start selling like that today
what does an AE look like on May 15th
AEs training on AUS
6. Woody: short meeting to discuss GMAC's viability, budget items, and future volume levels.
So, that is a bit of reflection on yesterday. My focus remains on "where are we going and what will we look like?" I'm looking for the truth in this mire; what are the scenarios we have available to us? What paths bring the best results? What defines "best results?"
One comment: watch the gossiping and complaining. What you are discussing with each other....does it have substance or are you just whining? Is it something you have control over?....if not, you are whining and gossiping and thus tearing yourself down.
Praying,
Danny
Remembering the trip, learning by changing, and striving for the vision.
The Theology of Work: Moving From Study to Practice
What in the world is Inside-the-Box Success?
Remember the scene in Apollo 13, after the infamous Houston - we've had a problem!, when the group of scientists and techs were in a room with a very large table and they had a bunch of stuff thrown on the table to FIX the problem with?
That is Inside-the-Box Success at its best. Knowing the problem and what you have to work with. Wishing you had something else, but succeeding with what you have!
It is about never giving up, and about succeeding with where you are. It is also about not wishing for something to be better, or about having a think outside the box - the grass is greener on the other side of the fence - if only I had.....
Actually, and you can read more about this herein, this is all about being more of a good follower, than a good leader. Leadership is way over rated and this is from experience, not just an opinion. Yet, the better follower I am, the more I find that I'm getting better results.
When I began this blog in early 2008 I had a simple agenda; let people within our company know more about what was going on. The agenda has changed and it is now a means for me to reflect on those changes and what I've learned and continue to learn. We, along with the rest of the mortgage industry have had our "whoes;" some due to what's been imposed on us, other self-inflicted.
Hopefully, I've learned a lot and will use this knowledge to change. I'm patiently working each day to learn where I'm going with my life, and my business. Still plenty of hurdles and slamming doors to deal with, but what doesn't kill you, will make you stronger. There are alot of opportunities out there for the survivors and I just need to remember that changes need to be s l o w .
Besides, if it does kill me, I'll be in heaven!
To that end....
God Bless, Danny
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A bit more about the blog.......These postings are not very well edited, so please be gracious in the critique.
In the beginning, many of the postings build from, or are a continuation of, a previous posting. At times a scenario I am discussing in one is not played out in another due to some event that has happened. So, to get the best flow, insure you are reading in chronological order, yet please understand this is not meant to be a journal of events.
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