The Mortech Insider

ANNOUNCEMENT: In celebration of the Holiday season Mortech’s office will be closed on December 25 and January 1. We hope you have a wonderful and safe new year!

IN THIS ISSUE...

· Mortech Plans Major Developments for 2010>>
· RESPA Enforcement Extensions >>
· PMI Takes a New Approach >>
· Start Using Marksman Email Campaigns >>

Mortech Plans Major Developments for 2010
Mortech made a news announcement on November 13. Our news covered some of the anticipated highlights in 2010 including working with new lead aggregation platforms, real estate marketing businesses and search engine companies.

Throughout 2009, Mortech began partnering with several companies in order to provide Mortech customers with more solutions. In 2010, Mortech will shift its business development priorities to an even more synergistic approach. Mortech will focus on establishing alliances and integrations with industry leaders who provide auto-quoting technologies. Throughout the next year we plan on strengthening relationships with online providers of mortgage information that help consumers receive real-time rate quotes. Embracing the fact that lenders are seeking constant innovation, Mortech is advancing its solutions; ultimately bettering the mortgage industry as a whole.

Read the Full Announcement >>

RESPA Enforcement Extensions
HUD is giving companies the first four months of 2010 to start incorporating the new requirements under the Real Estate Settlement Procedures Act (RESPA). Even though the new requirements will still take effect on January 1, 2010, the HUD will exercise restraint when enforcing the new rules for the first 120 days.

The new requirements, which are expected to save the average consumer $700 in settlement costs, affect ways in which lenders will operate including a new standard for GFEs to more accurately portray a comparison between estimated costs and actual costs.

Mortech is RESPA ready. Are you? Contact your account manager today to learn more about the RESPA and other HUD details.

PMI Takes a New Approach
PMI Group is loosening its grip on LTV threshold standards. For instance, condominium mortgages in non-distressed markets can be insured at 95% LTV- up from 90%. In distressed markets, condo mortgages can be insured at 90% LTV, which is up from 85%. Other PMI changes affected are high-balance loans, cash-out refinance loans, construction-to-permanent loans and second home loans.

In order to clarify guidelines, PMI has modified underwriting guidelines which will take effect January 1, 2010. Some updates include allowing borrowers to use credit cards to pay for closing costs, a 90-day ownership requirement and more.

For additional PMI Group updates read the HousingWire article

Start Using Marksman Email Campaigns
Having trouble staying in touch with prospects? Marksman Email Campaigns are a perfect way to connect with customers and can be customized to fit any stage of the sales cycle- from the moment you get a prospect all the way to when the closing process is finalized.

Email campaigns can be personalized by adding your photo, company details, website information and real-time rates for each prospect’s specific loan scenario. Also, you can quickly view which campaigns were sent out to each prospect using Marksman’s Email Campaign Tracker.

Contact your Account Manager today to set up this useful feature.

Tip of the Month

Shopping for a new investor? Use the Correspondent/Broker Compare tool for a few months to see if a specific investor is right for your company. Contact your Account Manger to learn how you can take advantage of this dynamic comparison tool.

· Mortech Website >>
· 2-Minute Marksman Demo >>
· Marksman Brochure >>
· Mortech Newsroom >>
· Contact Us >>

Did You Know?

There are five different shapes of snow crystals:
32°F - 25°F produces thin six-sided plates
25°F - 21°F produces long needle shapes
21°F - 14°F produces hollow columns
14°F - 10°F produces six-point stars
10°F - 3°F produces dendrites

Employee Profile

Kim , Mortech All-Star
A two-year honor student and graduate from the University of Nebraska in Lincoln, Kim eventually found her way to Mortech in September of 2007. With a major in Business and a minor in Marketing and Sociology, Kim has gained an extensive background in customer service. Before coming to Mortech she worked at a Lincoln- based day care center and was a manager at Sears. She was first a customer support representative and now is an account manager for Mortech.

As an account manager at Mortech, Kim is responsible for helping and educating Mortech’s customers about Marksman. She is the daily contact for current customers and informs them about all of the functions Mortech products have to offer. She also interprets customer feedback and relays it to sales, customer support and programming to further Mortech’s solutions. She enjoys building closer relationships with her customers, problem solving and applying her knowledge of Marksman to enhance key features of Mortech's Products.

In addition to managing customer accounts, Kim also manages a high-stakes college fantasy football league with a few friends. The league involves competing for a golden spray-painted ‘trophy troll’ that Kim designed herself (aka The Golden Troll). Speaking of college football, Kim has actually had the pleasure of meeting her personal heroes, Nebraska football head coach, Bo Pellini and defensive coordinator, Carl Pellini, at her part (fun)-time job working the front desk of Silverhawk Aviation. Over the past few years she has also shared a pizza with David Spade, played guitar with Steven Tyler and played catch with Joe Montana. She has also met Larry the Cable Guy, Jeff Foxworthy and plenty more famous people flying in and out of Lincoln. Kim is also the proud owner of three playful cats named blue, moon and socks.

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