In today’s episode, Fobby Naghmi is joined by Clayton Jones, VP of Credit Risk-Mortgage at First Option Mortgage, Mark Thomas, EVP at Truly Mortgage, a division of Amerifirst Financial Inc, and Phil Brousseau, SVP of TPO Underwriting at EPM. We get into the future of the mortgage industry using social media, the human aspect of underwriting, maintaining diligence, and some of the craziest files received throughout their careers.
· “Sometimes a quick ‘no’ is the best response.”
· “Breaking a habit requires energy, so we all resist because we don’t want to spend that energy.”
· “It’s about being thorough, and it’s about being consistent, and it’s about doing the right thing.”
· [02:31] Where the mortgage industry is headed.
· [04:42] Is this a new market?
· [06:00] Credit tightening and credit loosening.
· [08:20] Using social media.
· [12:16] The human side of underwriting.
· [17:40] Managing emotions.
· [21:35] Underwriting for third parties vs employees.
· [25:36] The “feel good condition.”
· [29:27] Touches.
· [30:42] Credit scores.
· [34:47] Maintaining diligence.
· [38:45] Crazy files.
LinkedIn: Clay Jones.