Jean Badciong
“The best thing we did at Inlanta Mortgage in 2009 was to attain the non-supervised mortgagee status with FHA. Not only have we been able to improve our service by controlling our underwriting turn time that can plague lenders who have to rely on a sponsor to underwrite their files, but we have also been able to improve the quality of loans we originate. In an effort to prevent problems in underwriting, not only do our underwriters approve loans but they also work with originators on keeping them well informed on what to look for when they work with applicants.”
What’s new at your company?
“In 2009 – everything. What a year of change. All of our staff at Inlanta Mortgage has been working diligently to keep up with all of the industry changes, especially in the most recent 10 months starting with HVCC all the way through the new RESPA changes. We not only took on those challenges but implemented a new operating system to give originators the tools they need to stay fully informed on their file status, from the time the appraisal is ordered through the loan sale to investors. Originators now have 24/7 access to all of their files throughout the process. Two other major changes implemented at the end of 2009 and continuing into 2010 are very exciting for us. We recently rolled out a new branch reporting tool so managers are able to track income and expenses daily. We are also half way through a major website redesign that will improve functionality down to the originator level and provide consumers with the information they need to know to guide them through the loan process! In the midst of all of these changes, we are proud to say that at Inlanta Mortgage we had an increase in business of 71 percent in 2009.”
Do you plan to hire any additional staff or make any significant capital investments in your company in the next year?
“Most definitely. We invested significant dollars in 2009, and have a few additional expenditures planned for 2010 to continue growing Inlanta Mortgage. We are always actively recruiting successful loan originators and qualified branch offices for our company. But, we are not a company all about quantity of originators – quality is and will remain a main focus. We do not measure our successes by how many loan originators we have working for us. We measure our success by how successful our loan originators and branch managers can be. To that end, we are committed to maintaining the staff levels within the administrative department needed to provide the support to our branch offices. We recently added an additional DE underwriter so we can provide the underwriting turn time needed to remain competitive in the market and are in the process of adding support staff to maintain service levels with appraisal ordering in anticipation of the new FHA guidelines.”
What will be your company’s main challenges in the next year?
“Continue to educate our originators and keep them on the leading edge of all the regulatory change. It has been a challenge this past year and we are prepared to react to additional changes in 2010. Inlanta Mortgage is committed to providing the support our branches and originators need to help their customers and understand the changes as they occur.”
What’s the hottest trend in your industry?
“Regulation – need I say more? In all honesty though, we are very excited about the opportunities that currently exist for consumers looking to purchase a new home. Not only for first time homeowners but also for people who are relocating, or just buying to improve their home, ‘moving up.’ Home affordability levels are very attractive. Credit remains tight, so it is very important for consumers to work with a mortgage professional early in the process so they are well informed on what criteria they have to work towards in order to qualify for a home purchase loan in the future.”
Do you have a business mantra?
“I think the thing we focus on the most as a company at Inlanta Mortgage is honest, ethical lending practices. This has been our core philosophy since our company was founded in 1993. We want to work with our customers, not only on this one transaction but with all their mortgage needs. Many of our originators work with their customers for years – Inlanta Mortgage works to be our customers’ mortgage consultants for life. More than 90 percent of our business comes from repeat and referral business.”
From a business standpoint, who do you look up to?
“There are so many strong, quality business parties we work with. We work well with our peers and have great respect for them and their honesty. One of Inlanta Mortgage’s best business partners that have brought so much to our company is our membership within the Lenders One cooperative. Lenders One is the largest cooperative of mortgage bankers headquartered in St. Louis. Scott Stern and his team, including Tim Stern and Barry Sandwiess, have done a tremendous job not only providing us with benefits to drill down our costs and help us make the right choices but through the help of CMLA stay very well informed in industry wide changes and the opportunity to help influence those changes.”
What was the best advice you ever received?
“Join the Lenders One cooperative – without a doubt.”
“I am a huge movie buff, and love to pick up good books when time allows. I enjoy nature walks with my family or friends when the weather is warmer. I enjoy visiting our state and national park system. There is some beautiful country out there that we thoroughly enjoy experiencing.”
