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1 Size of line: Minimum
2 Size of line: Maximum
3 Personal/corporate/combined net worth requirement: Minimum
4 Annual origination volume: Minimum
5 Willing to train those new to warehouse lending
8 Lien position: 1st
9 Lien position: 2nd
11 FHA / VA
12 Fannie Mae / Freddie Mac
13 HLTV programs
14 Home equity
15 Home improvement
16 Jumbo residential
17 Mixed-use properties
NATIONWIDE Nationwide lender offering warehouse lines in all 50 states. Advantages include prime and Libor rate options, online requests and line reports and
paperless processing that increases efficiency and reduces costs.
Gateway Bank FSB
Nation's top warehouse bank (Federal Savings Bank), Quick$ale®, off balance sheet (purchase facility), early wires, TPOs
Horizon Bank NA
Repurchase facility, early wires, TPOs
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« tools & tips »
By Denis G. Kelly
Identity Ambassador Commission
Establish credibility and open doors by protecting borrowers’ identities
As guardians and conveyors of massive troves of sensitive per- sonal information, mortgage
professionals are perfectly situated to
become leaders in identity-theft prevention. There’s no shortage of staggering statistics and catastrophic cases to
prove the need for identity-theft protection. In fact, some evidence shows that
everyone — yes, even you — already has
had their identity stolen. Most people,
however, don’t realize it … yet.
Not only can identity theft destroy a
person’s finances, but it also can cause
severe emotional distress. Mortgage
professionals can help their clients
avoid these effects. By adding identity-theft prevention and protection to your
business model, you also can grow your
product offering and provide a much-needed service in today’s economy.
Identity theft has increased tremendously in the past decade, with one
study showing more than 500 million
sensitive records breached in the U.S.
since 2005. Numerically speaking,
that means every resident has had
some of their information stolen at
The methods and manners thieves
use vary greatly, and mortgage appli-
cants are often targeted. In some ways,
the size of your desire to fill this role is
immaterial. Your clients perceive you
as a trusted adviser. If you fail to safe-
guard their information, you could face
drastic consequences and a severe or
total loss of business.
Study and teach
By learning more about identity theft
and how to prevent it — and how to
help clients recover, if affected —
mortgage professionals can establish
credibility and create peer separation.
An expertise in identity-theft prevention also can:
• Create a branding opportunity;
• Increase your closing ratio;
• Build your referral partnerships;
• Lead to more clients.
These outcomes are especially likely
in today’s housing market because
of heightened concerns about identity theft. According to a 2009 Gallup
Poll, identity theft is the nation’s No. 1
Referral partners want to send loans
to mortgage professionals they respect and trust, and consumers want
to send their friends and acquaintances to the same.
Mortgage professionals can gain
a more complete understanding of
identity-theft prevention by studying
the subject carefully. In turn, they can
pass along the information through
seminars, classes and personal relationships. They also can prove their
worth by developing a track record
of protecting clients’ information
Just the facts
To be considered an identity-protection
expert, you must abandon rumors and
innuendo — both run rampant in today’s mortgage industry — and concentrate on supportable facts. You can do
this by taking courses from fraud-pre-vention experts. Look for organizations
that offer dependable, comprehensive
and timely resources and courses.
The best educational sources also
provide a medium for ongoing interaction and community-building with other
professionals. This allows for shared
storytelling and insights into identity
thieves’ changing behavior.
Ideally, an organization also will
provide a certification for professionals who complete its requirement and
prove their newfound expertise.
By turning identity theft into an educational opportunity, mortgage professionals have a chance to protect
themselves, their colleagues and their
clients while also expanding their influence and business. •
Denis G. Kelly is an identity-theft-prevention
expert. He is the author of The Official Identity
Theft Prevention Handbook; chairman of the
Identity Ambassador Commission (Identity
Ambassador.org), an identity-theft education
and training organization; CEO of ID Cuffs Inc.
( IDCuffs.com), an identity-theft-prevention
company; and editor-in-chief of TheID
Channel.com, a centralized resource of the
latest identity-theft news and information.
Kelly is also a featured speaker at industry
events. He resides in Miami Beach, Fla. Contact (866) 938-4035 or info@IdentityAC.com.