What happens when three Certified Mortgage Bankers (CMBs) meet in one of the world's most historic cities?

I'm joined by SuSheila Dhillon, Alan Fowler, and Brian Handal to revisit their international project in Cairo. Between 2005 and 2010, they were tasked with helping build a modern housing finance system from the ground up. But right in the middle of their mission, the 2008 global financial crisis presented an entirely new set of challenges.

They share their story of navigating the fallout, managing cross-cultural teams under pressure, and the practical lessons learned from pioneering a market during a period of global instability.

In this episode of CMB Connect, I interview Lynn Crutchfield, Director of Sales Operations at Essent. We discuss the critical role of Private Mortgage Insurance (PMI) in facilitating home ownership and supporting lenders. Our conversation covers the definition of PMI, its regulatory landscape, types of PMI, how premiums are calculated, strategic uses of PMI in lending, career opportunities in the PMI sector, and emerging trends in technology affecting the industry.

Chapters

00:00 Introduction to Private Mortgage Insurance

03:10 Lyn Crutchfield's Journey in Mortgage Banking

05:35 Understanding Private Mortgage Insurance (PMI)

08:09 Regulations Governing Private Mortgage Insurance

11:15 Impact of PMI Regulations on Lenders

12:48 Types of Private Mortgage Insurance Premiums

15:31 Cancellation of Private Mortgage Insurance

17:54 Factors Influencing PMI Coverage Decisions

18:36 Calculating PMI Premiums

20:41 Understanding Risk-Based Pricing in PMI

22:31 Borrower-Paid vs. Lender-Paid PMI Options

25:02 PMI as a Sales Tool in High-Interest Environments

29:52 Navigating Regulatory Changes in PMI

32:53 Career Opportunities in Private Mortgage Insurance

36:37 Emerging Trends and Technologies in PMI

41:06 Outro/End

Note: The best source of specific information about PMI is the PMI account executive.

Here are some sources of industry wide information about PMI.

Fannie Mae's PMIERS: https://singlefamily.fanniemae.com/media/39791/display

Freddie Mac's PMIERS:

https://sf.freddiemac.com/general/private-mortgage-insurer-eligibility-requirements-pmiers

CFPB on PMI Cancellation: https://files.consumerfinance.gov/f/documents/102012_cfpb_homeowners-protection-act-hpa-pmi-cancellation-act_procedures.pdf

https://www.essent.us/about-essent

Val Buresch, Founder and CEO of Polygon Research, explores FHA lending with MBA's Teresa Ferman, unpacking critical industry misconceptions. Discover how FHA programs drive homeownership access, meet compliance standards, and serve underserved communities. Teresa shares expert guidance on CMB designation, mortgage banking career advancement and building client relationships in today's mortgage market.

Link to HUD's Single-Family FHA Handbook 4000.1: https://www.hud.gov/program_offices/housing/sfh/handbook_4000-1

Chapters

00:00 Introduction and Background

06:22 The Role of the Associate Director of Career Programming

09:38 The Value and Evolution of the CNB Designation

13:58 Teresa's Connection to FHA Lending

17:05 Opportunities and Challenges in FHA Lending

20:58 The Future of FHA Loans

24:16 Advice for Those Interested in FHA Lending

27:46 The Importance of Personal Contact in the Mortgage Industry

32:05 Closing Remarks

In this episode of CMB Connect, host Val Buresch interviews Suchitra Varma, a senior technology leader in mortgage banking. They discuss Suchitra's career journey from software engineering to becoming a certified mortgage banker, her insights on the evolving role of IT in the mortgage industry, and the importance of delivering high-quality services. Suchitra shares her thoughts on the impact of AI and machine learning on mortgage processes, the significance of a frictionless consumer experience, and the need for inclusivity and innovation in the industry.

The books recommended by Suchitra:

#1The Friction Project: How Smart Leaders Make the Right Things Easier and the Wrong Things Harder by Robert Sutton and Huggy Rao

#2 The Singularity Is Near by Ray Kurzweil

00:00 Introduction and Career Journey

06:28 Role of IT in Mortgage Banking

11:41 Consumer Pain Points in the Application Process

14:04 Collaboration and Communication in Mortgage Banking

17:41 AI and ML in the Mortgage Application Process

21:48 Staying Current with Industry Trends

24:30 Implementing New Technologies in Mortgage Banking

25:54 The Future of Innovation in Mortgage Banking

28:54 Respect and Inclusivity in the Industry

In this episode of CMBConnect, I interview Bob Niemi, the CMB Society vice chair. We explore the traditional business model in the mortgage industry, how lenders make money, and the challenges they face. We delve into the topic of innovation in the industry, including the use of AI and technology to streamline processes and improve the customer experience.

Chapters

00:00 Introduction

01:34 Earning the CMB Designation and Its Value

06:06 Understanding the Traditional Business Model in the Mortgage Industry

12:00 The Role of Innovation and AI in Streamlining Processes and Improving Customer Experience

18:25 The Need for Education and Regulation in Adopting New Technologies

26:54 The Role of the CMB Society in Leading Innovation and Advocating for the Industry

The book that I mention in the episode is

Meg Bennett, CMB, and a Client Executive at TransUnion, shares her journey in the mortgage industry and the impact of becoming a CMB. She discusses her role as an advisor to her clients. In addition, Meg talks about the industry trends she's seeing, including fraud and delinquencies. Meg emphasizes the importance of listening, learning, and finding a mentor for young professionals in the industry. She also highlights the need for proactive planning and streamlining processes in the mortgage industry.

Yolanda Estrada, a Certified Mortgage Banker and 20-year veteran of mortgage processing and underwriting, shares her career journey and expertise. She discusses the importance of clear communication with borrowers and setting realistic expectations throughout the mortgage process. Yolanda also highlights the role of technology in streamlining the application process and reducing the likelihood of incomplete applications. She emphasizes the need for adaptability and continuous learning in the mortgage industry. Yolanda encourages individuals to consider a career in mortgage processing and underwriting, especially with the current opportunities for training and growth.

Chapters

00:00 Career Journey

08:26 Challenges and Growth in Mortgage Processing and Underwriting

11:47 Reducing Application Withdrawals

16:39 Closing Applications for Incompleteness

18:17 Streamlining the Application Process with Technology

21:40 Balancing Automation and the Human Element

23:28 Skills and Knowledge for Mortgage Professionals

25:51 Opportunities in the Mortgage Industry

I talk with Suha Zehl, CMB, about the evolution of mortgage technology in the last two decades. Suha emphasizes the importance of data maturity and the need for a solid foundation in technology. She also highlights the exciting emerging technologies, such as augmented reality, virtual reality, open banking, and regtech. Lastly, we discuss the value of mentorship in the mortgage industry and the qualities of a great mentor.

Chapters

00:00 Introduction to Suha Zehl and her experience in the mortgage industry

02:05 The evolution of mortgage technology and its challenges and opportunities

08:32 Key milestones in mortgage technology: Rise of fintechs and automation

18:27 Understanding AI, machine learning, data analytics, and business intelligence

32:07 The value of mentorship in the mortgage industry

36:04 Building transparency and engagement in the mortgage process

Creighton Oswald, a Certified Mortgage Banker (CMB), is a mortgage banking industry veteran with experience at major banks like JP Morgan Chase, Texas Capital, and BBVA. Most recently, Creighton was the Chief Lending Officer at First United Bank where he oversaw $16 Billion mortgage and consumer portfolio. He talks about operational risk management, and the intersection of change management, leadership, and the future of lending.

Find Creighton on LinkedIn:

00:00 Introduction

07:40 Pressing Risks and Importance of Risk and Compliance in Mortgage Lending

14:48 Leveraging Microdata for Efficiency and Profitability

27:54 Leadership, Mentoring, and the Future of the Mortgage Industry

35:15 The Role of Technology and Leveling the Playing Field in the Mortgage Industry

Bob Mansur, the Lending Development Manager at 3Rivers Federal Credit Union, shares his passion for elevating professionalism and performance in the mortgage industry. Bob discusses the six critical elements that impact performance: expectations and feedback, tools and resources, rewards and sanctions, values and principles, capacity and traits, and skills and knowledge. He emphasizes the importance of setting clear expectations and providing feedback to improve performance. Bob also highlights the need for continuous learning in the mortgage industry.

Chapters

00:00 Introduction

03:04 The Six Critical Elements that Impact Performance in the Mortgage Industry

08:35 Customizing the Performance Enhancement Framework for Mortgage Lending Organizations

11:28 Challenges in Educating Borrowers about Mortgage Credit

13:26 The Importance of Financial Wellness and Caring for Customers

23:26 The Value of the Certified Mortgage Banker (CMB) Designation

Bob Mansur | (17) Bob Mansur, CMB, AMP | LinkedIn