Largest Mortgage - Real Estate Partnership in Georgia History (2026)

Two similar Cultures Aligned

www.southeastmortgage.com Phone: 770-279-0222

Headline: Realtors Can Be Registered & Not Licensed

The headline is shocking and luckily fiction today; however,  it is a Hidden Reality in the Mortgage Industry today and most Realtors and Clients do not know.

What if a large Hedge Fund decided to enter the Real Estate Business and found a loophole to only Register Realtors exempt from State licensing.  Imagine they only have to pay Registered Realtors 1/3 what a Licensed Realtors make pocketing the difference.  Registered Realtors are not required to comply with Continuing Education, or State Regulation?

Trades (Realtors, Mortgage Lenders, Attorneys, Appraisers, Etc.) should support and insist on working with State Licensed Professionals who have met State Standards of Education, Credit, and Ethics.  Would you use an unlicensed Architect, Attorney, Doctor, Electrician, Plumber, Teacher, Appraiser, etc.  I certainly would not!

Does anyone ask if their Mortgage Originator is State Licensed?  That should be one of the first questions for a Realtor before referring a client and a client before applying with a Mortgage Originator. Just check if they are licensed at http://www.nmlsconsumeraccess.org/ .  Registered Mortgage Originators do not have a GAR or DBF for client complaint resolution.  Clients and Realtors can only file a complaint with their employer which is a Bank.

Southeast Mortgage works with Licensed Attorneys, Appraisers, and Realtors.  Support the integrity of State Licensing and only work with Licensed Mortgage Originators.  Protect the integrity of the Real Estate Industry and ensure we do not see another 2008-2009.  Everyone knows what and who caused it.

770-279-0222
www.southeastmortgage.com 

I am Still in Shock? Licenses Matter!

After the 2009 financial Crisis, I assumed everyone understood risky and unsustainable Mortgage Loans were created by Non-Licensed Mortgage Originators which caused the financial disaster that hurt so many families?  There was a reason Congress passed a law requiring Mortgage Originators to be Licensed.  8 years later, the lesson was missed.

Over the weekend, I was working with a Licensed Real Estate Agent, Realtor, to sell a house.  The Realtor I chose knew the market very well and has a proven track record.  I only work with Licensed Real Estate Agents and I always check their license at http://www.grec.state.ga.us/ .  The Realtors I know appreciate people who choose Licensed Real Estate Agents and many have the same view with respect to Mortgage Lending.

Over the weekend, I got an offer on the house with a Bank Originator written into the contract.  I happen to know the Bank Originator given I hired the person into the Banking Industry from the waste disposal industry a long time ago.  The person has a super personality and is likable.  I explained to the Realtor that I did not have confidence in an agreement that was contingent on a Non-Licensed Mortgage Originator handling the buyers loan.  You can find out if a Loan Officer is Licensed by clicking here http://www.nmlsconsumeraccess.org/ .  See picture below.  Look for there State license below that will also have a consumer complaint link.  If the are just registered "Not Licensed" there is no State License information nor Consumer Complaint Link.

The Realtor had no idea that there are Non-Licensed Mortgage Originators engaged in the Georgia Mortgage Industry.  I explained it to her this way.  Would you buy your home from a Non-Licensed Real Estate Agent?  She said NO.  My POINT.  Just because someone is likable is not a basis to put a client's home purchase or sale in the hands of someone NOT State Licensed to do it.  They deserve a Mortgage Originator that has passed a competency test and is regulated by the State they are taking mortgage applications.

• Would you hire a Plumber who is registered with his supplier and not licensed?
• Would you hire an Electrician who is registered with his supplier and not licensed?
• Would you trust your health to a Doctor who is registered with a drug supplier rather than licensed?  Should your Doctor be required to pass competency exams?
• Would you hire a Realtor who is registered with their employer and not licensed?

Bank Mortgage Originators are Registered and do not have State Licenses, they have not passed a standardized competency test, and there is no State Regulatory Complaint Recourse for Consumers.  If a Licensed Real Estate Agent creates an issue for you, you can complain  to http://www.grec.state.ga.us/ (Real Estate Agents State Regulator).  Attorneys have the State BAR.   If you have an issue with a Federally Registered Non-Licensed Bank Mortgage Originator, who do you complain to?  Who regulates them?  Their Employer?  Remember 2009.  

ART in Mortgage Industy - by Cal Haupt

Have you ever seen an ART Class where all the participants paint a subject from the same perspective and look over at each other to see how others are doing? 

Over the weekend, I was
reminded how important organically adapting a company to the market yields a major advantage and return. 

ART is a diverse range of executive activities creating a tangible expression of the executive’s technical skill intended to be appreciated by the shareholders and community analyst. 

Being able to see the beauty in the Mortgage Industry and its opportunity is a unique skill needed to see a path to incremental success over varying market conditions.  Most in the Mortgage Industry listens to the same paid service view of the market and act upon that data.  As a result, everyone is following the same path and by definition, if you are all doing the same thing an average result is the certain outcome.

The client and secondary market is a zero-sum game.  The client will always get a market rate and the secondary market will hedge and arbitrage that rate to an acceptable return without impact to the client.  How a company functions and the perspective they have of this known universe is what quantifies the rewards.

When I meet someone who follows Southeast Mortgage they always want to quantify us by volume.  I always respond that we track Revenue which is your ability “ART” to convert volume to revenue.  Revenue to Net Income is easy with a grasp on GOGS and Operating Expense.  I have combined 14 companies into Southeast Mortgage over the years and the net margins I observed left a lot of opportunity on the table.  Southeast Mortgage shared a unique perspective with the owners that yielded a significantly greater return for them from the same volume.  Given any volume of production has a theoretical maximum rate of return most only capture ¼ of what is available because that is all they see is available on others canvases.  I call it wasting opportunity.

If I could offer one suggestion to those that participate in the Mortgage Industry, it would be to keep an open mind to a better path.  If you can accomplish your goal 3x faster, don’t discount the opportunity just because the other canvases have the same picture resulting from pack mediocrity and shared expectation.  Traveling the same path always yields the same result.  Take a new educated perspective and create beautiful ART.

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

Behind the Mortgage Rate Curtain - by Cal Haupt

For the past twenty plus years I have stated Mortgage Rates are what they are and are set by the market.  There is only a market rate.  I.E. If you want to buy AT&T stock, there is one market for the public and the price is set by supply, demand, and valuation and sold by SEC licensed agents.  This holds true for Mortgage Rates except valuation is a little more complicated.  Focusing on client needs and matching the correct product to those needs is the path to organic revenue and a stability for Mortgage Loan Originators, MLOs, and Mortgage Companies.

Only Mortgage Lenders with access to secondary markets can provide true adjustments to market rates via dislocations in hedge activities.  This only lowers rates IF it is not reserved for the unfavorable consequence of the dislocation assuming the market moves to a less favorable level.

I constantly see rate focused MLOs moving from company to company.  The reason they cannot build a career is they are teased with lower unsustainable rates and then move when the company returns rates to sustainable levels.  Brokers and Correspondents cannot take advantage of secondary market dislocation so when they lower rates, the offsetting revenue has to come from somewhere or expenses must be lowered which can reduce MLO service needed for referrals.  In some cases, unsustainable rates are obtained from Wholesalers that sell servicing over and over and over which angers clients and potentially risks their credit rating if they cannot keep up with where their payment should go.

Mortgage Rates are set by the market and if a rate advertised is lower than market the company probably did not account properly and will not be able to balance the equation over time.  Time is not a friend to unsustainable low rate strategies.  Look at history and the names that used this strategy and are no longer in existence.  This is the primary reason companies fail over time or when the economy enters challenging periods.

My advice to MLOs and Clients is to work with the highest certified lender you can find.  The same logic applies to buying stock from an SEC licensed agent, choose a Licensed Mortgage Originator.  The higher the certification, the better access to efficient market rates due to the reduction of hands in the pot and benefits derived from hedging activities. 

This is the hierarchy of Mortgage Providers:

#1 Highest Certification - Direct Lender - Secondary Broker Dealer, Fannie & Freddie Seller Servicer (GSEs), with FHA
Direct Lender with full access to secondary markets and can trade between the GSEs- Can Service Production - Southeast Mortgage of Georgia, Inc., operates in this category of certification

#2 Direct Lender - Fannie & Freddie Seller Servicer
Access to GSEs and considered a direct lender that can service production

#3 Fannie or Freddie Seller
Access to GSEs BUT not qualified or approved to service and will sell servicing rights
#4 Correspondent
Works on behalf of another Direct Lender.  Usually has small warehouse lines and servicing can be re-sold for higher yield by wholesalers 
#5 Broker (very few of these after 2009)
Middle person in the transaction - Works to put a consumer together with a Direct Lender.  Consumer pays the extra cost of the middle person even if the rate appears lower.  Servicing can be sold several times to account for the extra hand in the transaction.

Note: Banks (state-chartered, national banks, or federal thrift/savings banks) can operate in any of the categories above.  Most Georgia Community Banks engage as a correspondent or Fannie / Freddie variation.  Being an FDIC insured institution or Georgia State Bank only exempts their Loan Originators from Federal and State Licensing.  At Banks consumers work with Registered MLOs.  At Non-Bank Mortgage Companies consumers work with Licensed Mortgage Originators as set forth by the 2008 SAFE Act.  Click to learn more about the 2008 SAFE Act passed by our Government.

How can consumers or MLOs find the daily Mortgage Market Rate?  You have to average the daily par rate of Direct Lenders in your geographic area (50 mile circumference) with a sample size of at least 5.  Southeast Mortgage does this daily to keep our Referral partners and clients informed.

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

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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

Safe Harbor for Mortgage Loan Originators Career? – Licensed vs. Registered MLO

Would you get mortgage advice from a disc jockey with a nice conference room?  Can you tell the difference?     

Mortgages are an important Consumer Product and meeting educational certifications along with passing the national NMLS with state content exam is the safeguard a consumer deserves supported by laws passed by your government. 

With 80% of the pre 2009 mortgage service providers out of the mortgage industry, the value of a Mortgage Loan Originator’s, MLO’s, career is at an all-time high and its continuation depends on choices made today.

As the yield curve begins to hold trend in a northerly direction, our industry is entering a phase of the recovery cycle similar to the 2001 – 2005 surge without the unsustainable high risk products.  The products that will be sold are primarily QRM or “Standard Loans” provided by the GSEs, “Fannie, Freddie & Ginnie (Conforming, FHA, & VA)”.  MLOs will need to be close to the source of these products which is the Seller / Servicers approved by these entities.  As you move away from the GSE source as a correspondent, local bank registered MLO, or broker; service, accessibility, and pricing suffer.  Do you get a better price buying an apple direct from an apple farmer or Publix?  Same concept and principle in the mortgage industry and both are commodities.

The mortgage service providers in this cycle will primarily be two types:

Ø  Banks that employ Registered Mortgage Originators and cannot sponsor a Licensed Mortgage Originator

AND

Ø  Non-Bank Mortgage Lenders that employ only Licensed Mortgage Originators.  Non-Bank participants can be a broker, correspondent, or a vertically integrated GSE Seller / Servicer.  All specialize in mortgage products and employ Licensed Mortgage Originators according to the S.A.F.E. Act, Dodd Frank Act and State banking agency requirements.

MLOs in our industry have to make choices today to secure their career as our industry evolves.  As everyone knows, if anything is certain its change in the Mortgage Industry.

Understanding the truth about earning a higher certification as a Licensed Mortgage Originator versus being a Registered Bank Mortgage Originator is critical to a good choice.  Avoid the fear tactics and miscommunication and focus on the facts that dispel the myths.

The Truth

·        Based on prior history of other products requiring a license to sell, regulators will require banks to license all Registered Loan Originators.  Banks have similar experience with Mutual Fund Sales (Series 6/63) and Consumer Loan Insurance.  Both had a period of adjustment and both eventually required all sales people selling the products to be licensed by FINRA (formerly the NASD) and the Insurance Commissioner respectively.  Neither of those caused a recession, Mortgages did?  Either through reserves or direct intervention, Banks will license all MLOs at some point.

·        Non-Bank Mortgage Lender’s like Southeast Mortgage (SEM), have higher mortgage certifications than many Banks.

·        Get licensed today and remove uncertainty before time runs out.  It will.

·        Non-Bank Mortgage Companies pay MLOs more than Banks.  Same work why not receive higher pay?  Why? Because registered originators allow it and inertia has them.

·        Since Non-Bank Mortgage Companies specialize in one product, service is superior and faster.

·        Name your shareholders at a Bank?  Are you a member of the LLC?  Do you really know who you work for?  Build a career and trust your shareholders and hopefully they work alongside you.

 

Dispel the Myths

·        Don’t succumb to fear tactics.  Becoming a Licensed Mortgage Originator is a straight forward process.  Would you buy stock from an unlicensed stock broker?  Would you seek retirement advice from a Disc Jockey that appears to talk the talk?  Your family deserves the certainty of licensing as set forth by Congress.

·        Don’t talk yourself into believing Bank comparable training is the same thing as studying and passing the national NMLS with state content exam.  Ask any Bank Registered MLO that has passed the test if there is a difference.

·        The Georgia Department of Banking and Finance is very cooperative and will discuss issues to help you through the process.  They respond promptly and will answer your questions.  It is important to follow the rules during the licensing process.

·        For Realtors and Builder’s service and speed matters.

·        If you have a license, you will welcome change.  If you are unable to be licensed, you know the deficiencies and can make a plan to correct them before it’s too late.

Becoming a Licensed Mortgage Originator removes the inherent risk of Banks switching to employing only licensed MLOs.  Protect your career and your family’s income by earning your MLO License and enjoy the next 5 years without concern.

www.southeastmortgage.com
Southeast Mortgage of Georgia, Inc.
3496 Club Drive, Lawrenceville, Georgia 30044
Phone: (770) 279-0222
Georgia Residental Mortgage Licensee #6578
NMLS #103956

Most frequently asked MLO questions

Although Southeast Mortgage has been in Georgia since 1993 and employs a full time PR and social media assets, we continue to get the same questions.  I thought I would share a few of them and some more common points about one of the oldest Mortgage lenders in Georgia on our 20^th anniversary.

 

Why is a company the size of Southeast Mortgage Corporate/Operations located at Club Drive rather than a High end Office Building?

 

Ø  SEM has owned the 2 acres on Club Drive since 1997 and currently uses 15,000 square feet for Operations (Processing, Underwriting, Closing, Post Closing, Capital Markets, and Client Relationship Management).  SEM is pad ready for another 8,000 square feet when needed.

Ø  Having your TEAM at one site builds team work, better communication, and faster response.

How can SEM pay 130 bps to MLOs?  Is there a catch?

Ø  Because SEM owns 50% of its space and utilizes the best technology in the industry, our overhead is lower which allows us to pay the best MLOs higher rates.

What makes SEM different than other Non-Bank and Bank mortgage competitors?

Ø  SEM has been in business for 20 years and holds one of the oldest lender licenses in Georgia.

Ø  SEM is a direct lender to GSEs and operates in the broker dealer market which provides us with better market access and the best prices available.

Ø  Many of the Senior Leadership at SEM have worked together over 20 years.

Why should I choose SEM?

Ø  SEM has flourished in 3 recessions and knows how to adapt.

Ø  SEM’s 25 Senior Officers guide our sales and operations efforts allowing for a deep bench and resources.

Ø  SEM executes a direct GSE model focused on QRM so we are not dependent on Correspondent, Broker, or Bank boards to dictate our future.

Ø  SEM has one of the lowest breakeven points in the industry due to low variable overhead and a vertically integrated operation.

Ø  SEM focused on a 7 day high service close since 1998 and now has a 8 day close due to changes in the industry.  Fast Service from competent licensed originators has always been our strength.

Ø  Longevity, stability, redundancy, and a Great Group of People with one common focus is what makes Southeast Mortgage the Largest Non-Bank Mortgage Lender in Georgia.

 

www.southeastmortgage.com

770-279-0222

What Consumers Must Know about the Mortgage Industry

Mortgage Loan Rates are a commodity set by the market.

Mortgage Rates, Economy, Home Prices, and Labor Market are all relative.  Rarely is there a dislocation in the relativity that provides a true benefit.

Ø  When rates are low, the economy is generally struggling, employment is low, and home prices are depressed. 

Ø  When rates are higher or increasing, the economy is strong, employment and wages are high, and home prices are rising.
As a result, consumers always get the relative best rate based on surrounding fundamentals that set the current mortgage rate.

Choosing a mortgage loan based on fit and suitability is the most important decision a consumer can make. 

Every Consumer deserves an interview with a Licensed Mortgage Originator to ensure their needs are met with the most appropriate mortgage product.

Ø  Rates are relative and if someone offers a lower than market rate – something else is compensating for the concession.  Buyer Beware.

True value to a Consumer is a function of Lender Type and Overhead Cost. 

Many consumers see a headline rate and do not look at the details.  Work with a Lender that has the highest certifications thus you get the best access to markets without the additional cost.  Southeast Mortgage is type 1 - Direct with Broker Dealer Capability.

Hierarchy of Mortgage Lender Certifications from Highest to Lowest
 

1.      Direct with Broker Dealer Capability (This is Southeast Mortgage's Class)
a.      Lowest cost of all
b.      Same as direct with potential cost reductions from trade operations
c.    Best Product Availability and best rates for MLOs and Clients

2.      Direct Fannie, Freddie, and FHA “Ginnie”  Lender
a.      Lower cost due to access to GSEs and no middle men
b.      Relative rates and cost due to proximity to primary market
c.    Good Product Availability and rates for MLOs and Clients

3.      Correspondent
a.      Moderate Cost
b.      Lower cost than a Broker with some rate flexibility based on delivery
c.      Works on behalf of another Direct Lender
d.   Limited Product Availability, higher rates for MLOs and Clients

4.      Broker
a.      Highest cost of all
b.      Middle person between Consumer and a Direct Lender and or Correspondent
c.    Very Limited Product Availability, higher rates for MLOs and Clients

Always select a Licensed Mortgage Loan Originator

Check yours at: http://www.nmlsconsumeraccess.org/

A Registered Mortgage Loan Originator (Employed by State and Federal Banks) has not passed the NMLS test set forth by the government to protect consumers.  All banks employ Registered Mortgage Loan Originators under their federal exemption.   

Would you buy stocks and mutual funds from an unlicensed sales person?  Consumers deserve the protection a Licensed Loan Originator provides.

 

www.southeastmortgage.com

770-279-0222