UPDATE - New Southeast Mortgage Headquarters and Life Balance Building

Our new Headquarters and Life Balance facility is on track to be completed at the end of the August.

Don't miss our grand opening events and CE classes being hosted at our new building.  There is no Office space like this one. 

East Side 4th floor ready for carpet.  Work stations are en route

We will have a Studio for Video shoots and other media necessary to support our partners.  The glass corner is the studio.

3,000 pound fish tank is on its way, Workout Center, Employee Social Area, Game Center, and Cooking area is downstairs.  This general area will be the Client Relationship Management's domain welcoming our guests and clients.

This is the West Side of the 4th Floor.  Exec, Admin, Accounting, and Legal will be located with the center area ready for the Social Max furnishings.  This area will be very cool...

Www.southeastmortgage.com 

770-279-0222

Southeast Mortgage's NEW Headquarters / Operations / Life Balance Center (Updated Pictures)

3 months to go.  Southeast Mortgage of Georgia, Inc. - New Operations / Headquarters that supports our 14  Offices is moving rapidly to completion.
This will be the coolest most employee health friendly work place in the southeast. 
A great healthy place to work that brings life balance into the work place.  Stay tuned for the amenities list!  Will be WOW like we WOW our partners and clients.....

Entrance 4th Floor

3rd Floor TEAM Social / Workout

Cross Road East and West Side 4th Floor

Stairs from 4th to 3rd Floor TEAM Social and Workout Floor

Operations

Operations

 

 

www.southeastmortgage.com
770-279-0222

Construction is underway at Southeast Mortgage's New Headquarters / Operation Center....

We have incorporated all the input from everyone last week and have communicated the changes to the architect and general contractor.  We have a very cool and functional work / life balance facility design.  I think every one's first impression will be WOW because there will be no other Mortgage Headquarters / Operations Center that will rival this one.  Awesome is what our team deserves and Awesome is what you will have.....


This is 4th Floor looking back from the middle of the floor.  This SPACE is HUGE!

Cal Haupt
Chairman and Chief Executive Officer
Southeast Mortgage of Georgia, Inc.
www.southeastmortgage.com

Southeast Mortgage of Georgia, Inc. to Open a New 31,000 sq ft MAX Operations Center in Georgia

I am pleased to announce, Southeast Mortgage's new Corporate and Operations Center in Metro-Atlanta, Georgia. 

We will begin the build out and preparation of our new 31,000 square foot facility immediately.  We expect to occupy September 1, 2016.

The Expanded & Re-Designed Corporate / Operations Center will host all of Gwinnett Operations, Client Relationship Management, Executives, Fitness Center and other Wellness and Life Balance amenities.

This site is located at Pleasant Hill Road and I-85.  The space will provide the platform for our continued rapid growth and will reflect our industry leading innovations in the delivery of Awesome service to our Clients and Realtor / Builder partners.

 Although I have mixed emotions about leaving the memories and comfort of Club Drive, the foundation that created Georgia’s #1 Georgia Based Non-Bank Lender since 1993, it is time to turn the page and triple our capability and capacity.  Our success and innovation, now requires a new facility that facilitates our growth and will enhance our TEAMs balance with work, family, and health. 

I will post a floor plan at Club Drive on the 2^nd floor for each department to review and make notes.  The floor plan will only be for the 4th floor in that the 3rd floor will be dedicated to life balance initiatives.  This is our space and I want everyone's opinion to ensure our space design fits all our points of view and preferences.

 

Cal Haupt

Chairman and Chief Executive Officer
Southeast Mortgage of Georgia, Inc.
Serving our Client’s Trust since 1993
www.southeastmortgage.com
770-279-0222

MLOs always filter the noise to a clear path - MLOs want a strong foundation that can weather recessions and grow their referrals

Recently I was meeting with a Mortgage Loan Originator, MLO, candidate from a local competitor and he was impressed with what he saw at our Club Drive Operations Center and the Senior Officers he met.  He looked at me and said "a guy at a competitors barbecue said you were a #$@%*^#".  I simply asked, did he ever meet me.  He said "no".  I told him this is exactly why every MLO should form their own opinion of career alternatives and form it from first hand knowledge.  He signed with Southeast Mortgage the next day along with his very talented Sales Assistant.

Grapevine and malicious statements, slander, not formed from first hand knowledge but fabricated in dark corners and or prefaced by "don't tell anyone I said this" should be put in perspective by MLOs.  In the industry, we all know the negative recruiters and characters that use defamation (usually verbal "slander" and not "libel" written form) due to the legal consequences that could result.  They do this to make themselves or their company appear better or they harbor personal resentment due to some perceived wrong.  People using slander are masking their respect for the company referenced.  When a person uses this tactic be assured the company in focus is strong and tangible weakness is not present.  MLOs should get more interested and interview the targeted company when this occurs.  People only slander companies that matter and present a formidable strength that is capturing market share.  MLO's opportunity to grow their client base, referral sources, and weather the next recession may be based in the noise.  Growing careers and supporting families is the priority.

If you talk to anyone who knows or has worked with me at the banks or at Southeast Mortgage of Georgia, Inc., SEM, they will tell you “Cal is not a politician.  He knows what he is doing, always does what he says, and always gets it done.  Most importantly he always keeps his word and you can trust him”.  The essence of a company generally incorporates its developer’s core beliefs.  The long tenure of my team is a testament to the trust and respect we have in each other.  The TEAM is SEM.

Back in 1993 when SEM began, you never heard about a 8-day close, “the street’s needs”, “MLO friendly”, great support for Realtors and MLOs, etc.  However, all were the basis for the formation and development of SEM processes before they were cool.  We understood in 1993 what clients and Realtors would demand and the facade around products would not last which ultimately was dismantled in 2009 along with many companies selling them.  Due to the financial crisis with its epicenter in the Mortgage industry, 80% of mortgage companies in Georgia closed their doors.  What we have today are companies formed less than 6 years ago and some less than that.  Most have operations in other states supporting a multi-state foot print. 

 

The 8-day close used to be a 7-day close at SEM prior to the law change in 2009.  Closing fast reduces rate fluctuation risk and reduces client uncertainty and stress. 

The Street’s Needs – Realtors and MLOs want to close more business.  SEM created the first vertically integrated Georgia Mortgage Client Relationship Management, CRM, TEAM which provides added value and visual marketing support to both Realtors and MLOs at no cost to them.  As a result, our CRM TEAM is like having your own marketing team for free and ensures your image stays in front of past clients and Realtors.  Networking Socials at our Max Centers at no cost ensures you connect on a personal level.  Closing fast and approving more deals is a given.

SEM Processing – Our process was developed based on efficiency and MLO need.  Although it is different than most companies who use the same processes, SEM’s process has a 98% pull through and frees up 30% of MLOs time while increasing their earnings by 26%.  This time savings can be applied to your family, hobbies, or generating more business.

Although there are many hard working good people in our industry, when you look around you will find the core beliefs of many stated on websites were part of SEM's DNA since 1993.  SEM created the most productive origination process in the industry by building an operations and origination process designed to close more faster which organically grows Realtor and Client relationships.  This earns our MLOs 26% more than their competition with the same effort.

From 2010 –2013, MLOs flocked to the internal bank refinance opportunity. 

Unfortunately, a 100% refinance strategy never lasts and just like the signs say at the marina “please do not feed the birds”, MLOs that are fed leads forget how to hunt in a normalized market.  In a typical 7 year economic cycle from recession to recovery top, only 2 years on average is related to rate dislocation and the other 71% or 5 years is Realtor or Life Cycle Client dependent. 

Which strategy has the better odds for an MLO?  Yes, Realtor and Repeat Client focus is 3 times as effective as refinance only.  An interesting data point, the current recession started in 2009, it is 2014 or 5 years down the road.  Also note the DOW is at 17,100 which is near an all-time high.  Can you sense the déjà vu?  Recession resistant companies with evolved strategies like SEM should be in the forefront of every MLOs mind considering the demographics of our Georgia MLO population.  Today, MLOs are now flocking from the banks to participate in the purchase recovery which started two years ago.  Recruiters and Company websites all pitch 8-day close, MLO friendly, “the street needs”, etc. 

 



Truck pictured Left - Pinto pictured Right

The only issue is you can put a Truck body on a Ford Pinto; however, it is still a Ford Pinto.  MLOs need to form their own opinion and meet future employers face to face. 

Due to our service focused team and security at Club Drive, seeing what we do requires MLO applicants visit us at Club Drive headquarters.  SEM built a large engine and truck to support our TEAM.  This engine absorbs volume fluctuations and efficiently creates organic referrals from Realtors and past Clients. This consistently great Realtor and Client experience is why we enjoy one of the highest growth rates among our peers and MLOs can have confidence that operations will be ready when their applications surge.  We simply underwrite more effectively, close faster, and support our MLOs with the best Realtor and client awareness programs.  This creates SEM’s organic growth and why we prospered through three recessions to become the largest local Georgia-based, Non-bank Lender.

I talk a lot about a Village, and I truly believe a TEAM is security and in today’s mortgage market every MLO needs a Village to support them.  The Village is proven and why MLOs make 26% more working with our team.  You owe it to yourself to better understand the companies that service the Georgia Mortgage Market.  When you run into that negative recruiter or the "green eyed monster" bashing a company, make a first hand opinion.  No matter who the company is that is being defamed, go visit them face to face and make your own opinion.  

If you are a professional MLO closing 3-4 deals a month and you want to create or grow your current Realtor and Client referrals, you owe it to yourself to hear directly from me why SEM is the most emulated company in Georgia.  I will guarantee confidentiality.  Meet with me for 10 minutes at my Club Drive Office and see first-hand why SEM can close faster.  See "Who we hire".

 

 

Cal Haupt

Chairman and Chief Executive Officer
770-279-0222 (Just ask Admin to locate me and they will transfer you to my cell phone)

Qualified Mortgage (QM) - Lender Responsibility and Definition

Residential Mortgage Lenders primary purpose is to provide consumer loans secured by single family housing to facilitate acquisition for a consumer purpose.  Consumer purpose is housing the primary borrower, co-borrower, and or family.  Residential Mortgage Lenders have due care responsibility to ensure applicants can afford the loan for the term of the loan and it fits the applicants purpose.
 
Commercial Purpose loans secured by residential zoned property (Rental Properties, Industrial, and general purpose) should be handled by a small business lender that is tasked to originate this type of credit facility.
 

IMO: Just because a Residential Non-Qualified Mortgage product is offered for a residential consumer purposes is not a justification for a licensed or registered residential mortgage professional to sell it.  Licensed Mortgage Loan Originators (NMLS and State License Compliant Mortgage Loan Originators) and Registered Bank Mortgage Employees (Bank Employees whose job is to Originate Mortgages and is not Licensed) should be a fiduciary for the consumer and ensure they recommend the right product.  Mortgage product recommendations should only be made after understanding the client's needs through an interview process and ensuring the client can afford the loan today and for the term of the loan.  In the future all Bank and Non-Bank Mortgage Professionals will be licensed to the same standard which will ensure all consumers have consistent protection when shopping for their mortgage.
This trust and due care is the key to referrals and the key to longevity in this business. 
 

In its simplest form, Qualified Mortgages (QM) meet the following requirements:
> A loan that meets the requirements of GSEs, FHA, VA, or USDA and can be sold in the primary secondary market
> Consumer has a documented and verified ability to repay
 

Starting January 10, 2014, you must assess the borrower’s ability to repay all term residential mortgage loans. All QMs are presumed to comply with this requirement. As described below, a loan that meets the product feature requirements can be a QM under any of three main categories:

 

 

Mandatory product feature requirements for all QMs

1. Points and fees must be less than or equal to 3% of the loan amount (amounts less than $100k, higher % thresholds are allowed);
2. No negative amortization, interest-only, or balloon loans that increase risk (BUT NOTE: balloon loans originated until January 10, 2016 that meet the other product features are QMs if originated and held in portfolio by small creditors);
3. Maximum loan term is less than or = 30 years. 

Three main categories (CFPB Definition) 
1. General definition of QMs

Any loan that meets the product feature requirements with a debt-to-income ratio of 43% or less is a QM

2. "GSE-eligible" category of QMs

 

Any loan that meets the product feature requirements and is eligible for purchase, guarantee, or insurance by a GSE, FHA, VA, or USDA is QM regardless of the debt-to-income ratio (this QM category applies for GSE loans as long as the GSEs are in FHFA conservatorship and for federal agency loans until an agency issues its own QM rules, or January 10, 2021, whichever occurs first).

 

3. Small creditor category of QMs  

 

If you have less than $2B in assets and originate 500 or fewer first mortgages per year, loans you make and hold in portfolio are QMs as long as you have considered and verified a borrower’s debt-to-income ratio (though no specific DTI limit applies).

I truly hope our industry learned from the last recession that mortgages are a cornerstone of the US economy.  We make a difference every day and should govern the products we offer consumers with due care at the fore front.  Today we are seeing a similar trend to 2006 - 2009 when the industry evolved product features to target a broader category of borrower to increase origination volume.  I believe there are some products that are needed for borrowers that are not currently participating in today's mortgage market; however, we need to ensure industry risk remains low.   

Cal Haupt
Chairman and CEO
Southeast Mortgage of Georgia, Inc.
770-279-0222
www.southeastmortgage.com

Southeast Mortgage's Gwinnett Social Max - Fantastic "Kick Off"



Last night was a fabulous evening with the good friends, food, and football.

770-279-0222
www.southeastmortgage.com