Gene DiPaula, Author at NFM Lending

LINTHICUM, MD, November 2, 2015 — NFM Lending is pleased to announce the opening of a new branch in Glen Allen, Virginia. The branch will focus its lending platform throughout the state of Virginia. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options.

“NFM Lending offers us marketing resources, the operations staff to close loans quickly and smoothly, independence in our branch to shape the best customer experience as we see fit, competitive products, and a great culture and atmosphere in which to work in this challenging industry,” said Greg Cowart, Branch Manager. “The quality of departmental and company leadership here is second to none. We now have the best chance to take the best care of our clients, agents, and builders by joining NFM Lending.”

The Glen Allen branch is currently hiring qualified Loan Originators for full and part-time positions. The branch’s goal is to provide top-notch service, commitment, and dedication to borrowers, ranging from first time homebuyers, to seasoned buyers looking for their next home, a second home, or investment properties. Visit the branch page to learn more: https://nfmlending.com/VA318.

NFM Lending is a mortgage lending company currently licensed in 29 states across the U.S. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.”™

LINTHICUM, MD, October 26, 2015— NFM Lending’s CEO, David Silverman will be a panelist on a mortgage executive panel at this year’s Mastermind Summit on November 4, 2015, in Atlantic City, New Jersey. Silverman will join mortgage industry leaders from across the country for this premier executive symposium that addresses critical issues and the future direction of the mortgage finance industry.

The Mastermind Summit is an annual networking event and sales conference hosted by Mortgage Executive Magazine for real estate and mortgage professionals. The event features keynote speakers, roundtable discussions, panels, and breakout sessions lead by sales professionals, trainers, and executives. The executive session, at which Silverman will speak, is an exclusive invitation-only event for managers of leading mortgage companies.

“I am honored to be asked to be on a panel at this year’s Mastermind,” said Silverman. “I look forward to the opportunity to help share our best practices and learn from not only the other panelists, but those in attendance.”

NFM Lending has prospered under Silverman’s leadership, and continues to receive national recognition. The company was named one of the 50 Best Companies to Work For in 2015 by Mortgage Executive Magazine; one of the Washington Post’s Top Work Places in the Washington, D.C. area in 2015; a Top Mortgage Employer by National Mortgage Professional Magazine in 2015; and a Top Work Place in the Baltimore area by The Baltimore Sun in 2012, 2013, and 2014. Silverman received Mortgage Executive Magazine’s Most Influential Mortgage Executives award this year for the third year in a row.

NFM Lending was founded in March of 1998, by David Silverman and his wife Sandy. The company started as a small brokerage shop with only 4 Loan Originators and is now a multi-state lender with more than 300 employees, 39 retail branches, and is licensed in 29 states.

NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™”

LINTHICUM, MD, October 5, 2015 — NFM Lending is pleased to announce the opening of a new branch in New Orleans, Louisiana. The branch will focus its lending platform throughout the New Orleans area. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options. Visit the branch page to learn more: https://nfmlending.com/la317.

Jennifer Cook, Branch Manager, has worked in the mortgage industry for over 10 years. She has been part of the NFM Lending family since 2009 as a Loan Originator and Branch Manager, working out of the Corporate office in Linthicum, Maryland. She looks forward to the opportunity expand her business to the great state of Louisiana.

“I have been with NFM lending since 2009 and decided to branch out into a new location,” said Cook. “I have stayed with NFM because of their commitment to getting loans closed with the least stress possible for my buyers. NFM has great people in both the front and back of the house that truly care about our clients. Our strong operations team means I can focus on growing my business and helping people get into their dream homes.”

The New Orleans branch currently has openings for qualified Mortgage Loan Originators for full and part-time positions. The branch’s goal is to continue to provide the same commitment and dedication to borrowers ranging from first time homebuyers, to seasoned buyers looking for their next home, a second home, or investment properties.

The TILA-RESPA Integrated Disclosure (TRID) Rule will take effect on October 3, 2015. TRID will significantly change the way real estate transactions are processed and settled. To avoid delays and to ensure that each settlement goes as smoothly as possible, it is important for real estate agents to be informed of all of the changes TRID will introduce to the closing process.

New Documents
When TRID goes into effect, there will be two new disclosure forms: the Loan Estimate (LE) and the Closing Disclosure (CD). The LE will combine and replace the Good Faith Estimate and the Truth in Lending disclosure. The CD will combine and replace the HUD-1 and the final Truth in Lending disclosure.

The LE is a form that explains the loan’s features, terms, and risks. This form is due to the borrower within three days of their submitting a loan application. The CD provides the borrower with final details about the loan, including projected monthly payments, fees, and other costs. This is due to the borrower at least three days before closing.

New Timeline
The new disclosures will also instate new timelines for real estate transactions. The lender now has two new deadlines. They are required to provide the borrower with the LE at least three business days after loan application, and to provide the borrower with the CD at least three business days before loan consummation. Click here to view a timeline chart.

The latter deadline can, in some instances, delay closing. If the lender does not provide the borrower with the CD three days before closing, a scheduled closing may be delayed. Additionally, there are some cases in which a re-disclosure, or another three-day review period, will be necessary. If the lender provides the borrower with the CD, and the loan terms in the CD are significantly different from those detailed in the LE, a re-disclosure will be required. Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB) has specified the following three situations under which re-disclosure would be necessary:

Preparing Clients for these Changes
In order to avoid closing delays or confusion when TRID goes into effect, it is important to spend some time reviewing the new forms, so that you can answer any questions your client may have. Keep the new timelines in mind when drawing up contracts, coordinate closings carefully, and avoid any last-minute changes or negotiations. Encourage your clients to review the documents they receive carefully, and to communicate with the lender and ask questions. Finally, avoid making promises that cannot be kept. Initially when the new disclosure forms are implemented, loans and purchases may take longer to close. Make sure your clients are prepared for this possibility.

Knowing how Know Before You Owe, or TRID will change the mortgage industry will help you better serve your clients, and prevent delays in closing or other issues. The CFPB and the Mortgage Bankers Association have published resources for real estate professionals to educate themselves and their clients on TRID. These resources can provide further information and answer some of your questions about how these changes will affect you and your clients.

For more information about TRID, and how NFM Lending is preparing for TRID, click here.

LINTHICUM, MD, September 23, 2015 —The Diversified Home Group of NFM Lending in Tampa, Florida, has moved to a new location. This new location is at 14497 North Dale Mabry Highway, Suite 235N, Tampa, FL 33618.

“We were excited when the opportunity arose to join NFM Lending,” said Jane Floyd, Branch Manager. “The success and growth we have had in the past 18 months has been unbelievable. We finally outgrew our office of 13 years. Our new office is double the space and we are full again! We are excited to be part of the NFM Lending Family.”

The branch celebrated the Grand Opening of this new location on Wednesday, September 16, 2015. The celebration was attended by Jan Ozga, President of NFM Lending, as well as the company’s Director of Operations and the Underwriting Manager.

NFM Lending is a mortgage lending company currently licensed in 29 states across the United States. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to their customers and their community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.”

The Consumer Financial Protection Bureau (CFPB) has released new online tools on their “Owning a Home” landing page. These tools are aimed at helping consumers better understand the mortgage process, in preparation for the TILA-RESPA Integrated Closing Disclosures (TRID), or the Know Before You Owe Rule, which goes into effect October 3, 2015.

Within each phase, consumers can use various online forms and worksheets to learn more about the loan process and their options. Consumers can, for example, explore potential interest rates, based on their credit score, location, home price, loan type, and more. There are also tools that walk consumers step-by-step through the new disclosure forms: the Loan Estimate and the Closing Disclosure.

NFM Lending is continuing to prepare its employees, industry partners and consumers for TRID. For more information on TRID, and to find out what NFM Lending is doing to prepare, click here.

Jane Floyd and her team at NFM Lending celebrated the opening of their new location on Wednesday, September 16, 2015. The new location is 14497 North Dale Mabry Highway Suite 235N, Tampa, FL 33618.

The branch celebrated the move by hosting a Grand Opening celebration. Jan Ozga, President of NFM Lending, attended with other Executives, management staff, and employees to congratulate the branch on this exciting change.

The new TILA-RESPA Integrated Disclosures (TRID) will take effect on October 3, 2015. As this date approaches, you may have heard a few terms and phrases you haven’t heard before. Whether you’ve been through the home purchase process many times before, or you’re preparing to buy your first home, it’s important to familiarize yourself with these terms and to understand what they mean for you, the consumer.

TILA-RESPA
TILA refers to the Truth in Lending Act. This law requires mortgage companies and other lending institutions to disclose all costs and fees associated with a borrower’s transaction. RESPA stands for Real Estate Settlement Procedures Act. This law requires lenders, loan servicers, and brokers to provide borrowers with disclosures regarding the costs associated with real estate settlements. RESPA also prohibits anti-competitive practices that can inflate the costs of real estate transactions, such as kickbacks.

TRID
TRID stands for TILA-RESPA Integrated Closing Disclosures. TRID is a new Rule which applies to most residential mortgage transactions, that combines the Good Faith Estimate, the Truth-in-Lending statement, and the HUD-1 into two new forms: the Loan Estimate and the Closing Disclosure. Therefore, TRID is the integration of the TILA and RESPA disclosures.

Loan Estimate
A Loan Estimate (LE) is a form that the consumer receives within three days of applying for a mortgage. It details everything you need to know about the loan you have applied for, including the estimated interest rate, monthly payment, closing costs, and any other fees. It will also inform you of any special features in the loan, such as a prepayment penalty.

Closing Disclosure
A Closing Disclosure (CD) is a form the consumer receives at least three days before closing on a residential mortgage. This form includes loan terms, projected monthly payments, and what closing costs will be involved. The three-day window allows you to compare these terms and costs to the ones estimated in your LE, and to ask your lender any questions you may have about your loan before closing.

Creditor
The Creditor in a mortgage transaction is your mortgage lender. This is the financial institution supplying the funds for the loan, and instituting the terms and conditions of the loan.

Consumer
The Consumer in a mortgage transaction is the borrower, or the person(s) taking out the loan.

Consummation
Consummation is the date on which the consumer becomes contractually obligated to the creditor on the loan.

Knowing the terminology involved in loan transactions that start after the TRID deadline will help you be better prepared and avoid delays in your loan closing. For more information about TRID, and about what NFM Lending is doing to prepare for TRID, click here. If you are ready to purchase a home, click here to contact one of our licensed mortgage Loan Originators today to get started!

LINTHICUM, MD, September 10, 2015 — LaTasha Rowe, General Counsel at NFM Lending, will speak on the TILA-RESPA Integrated Closing Disclosures (TRID) at the Maryland Land Title Association (MLTA) 2015 Fall Convention in Ocean City, Maryland, on Saturday, September 12, 2015.

Ms. Rowe is speaking at the convention in order to prepare and educate attendees on the implications of the new TRID rules.

“As we count down to the October 3, 2015 effective date for TRID, this conference could not be more timely.” said Rowe. “It is important to emphasize that a title company’s role is not diminished. They are still an integral part of the closing process as lenders will work more collaboratively with the settlement agent on obtaining closing costs earlier in the process. I look forward to speaking with the MLTA attendees on their preparation for TRID as well as relaying NFM’s expectations of our title partners.”

This year’s MLTA convention will feature continuing education, break-out sessions, and exhibits by various compliance vendors. The event is aimed at helping title professionals be better prepared for TRID.

The deadline for implementation of the TRID rule is October 3, 2015. NFM Lending will continue to prepare for the implementation of TRID, in addition to educating their employees and clients about these important industry changes.

About NFM Lending
NFM Lending is a mortgage lending company currently licensed in 29 states across the United States. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to their customers and their community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.”

LINTHICUM, MD, August 28, 2015— NFM Lending is proud to announce David Silverman, CEO, has been named one of the 100 Most Influential Mortgage Executives in America by Mortgage Executive Magazine for 2015.

Each year, Mortgage Executive Magazine recognizes mortgage executives that have built their companies and service their clients and employees through service, dedication and hard work. The winning executives were asked to provide their insights on the mortgage industry’s opportunities and challenges today. Silverman spoke about NFM Lending’s increased focus on selective recruiting:

“The biggest opportunity for NFM Lending this year is to be selective with our origination recruits and focus on better, not bigger. Fortunately, the demand for service and product remains very high with a smaller supply of human capital across the industry. We believe this is a great time to be selective as well as bring new blood into the mortgage space and train them up.”

“I am truly honored to be recognized again amongst so many spectacular leaders in our industry,” said Silverman. “All I can do is continue to work towards being the best leader I can be for my company and those that I am blessed to have on my team making me look good. I surround myself with the best, and occasionally some of it rubs off on me.”

NFM Lending was founded in March of 1998 by David Silverman and his wife Sandy. The company started as a small brokerage shop with 4 loan originators and is now a multi-state lender with more than 350 employees, 39 retail branches, and is licensed in 29 states.

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