ARMing You for the Future in Mortgages
Thursday May 19, 2022 at 1pm central time
Sponsored by ACES Quality Management
Session Description
We’ve witnessed a near instantaneous 100bps skyrocket in rates and the mortgage market dynamic is evolving. Property values have also seen a steady increase in valuation and “affordability” is putting a crimp on mortgage forecasts. The member is facing tough choices. Should they lock in rates today on a 30yr fixed rate loan? Or should they look at other options perhaps with the return of the adjustable rate mortgage? ARMs have represented less than 5% of the overall mortgage market due to ultra low 30 year fixed rates but that’s starting to turn. Credit Union lenders are also faced with a shift in the index for ARMs. Should you use CMT, SOFR, LIBOR, AmeriLibor or some other index? We will tackle all of those questions and more.
- This session will be interactive so come with your questions.
- Open and free to ACUMA members only
- Session will be recorded.
- Attendance will be approved.
- By registering for this event, you submit your information to the webinar organizer and sponsor, who will use it to communicate with you regarding this event and their other services.
Speakers
John Toohig
Managing Director, Raymond James
John Toohig is a Managing Director at Raymond James, a Board Member and President of Raymond James Mortgage Company, Inc. and Head of the Whole Loan Group. Toohig joined Raymond James (formerly Morgan Keegan) in September of 2006. As Head of the Whole Loan Group, his primary responsibilities include day-to-day trading of whole loan packages, portfolio analysis, transaction management and the structuring of whole loan, participation and various structured products. Toohig’s product focus encompasses both seasoned and new production: residential mortgages (both QM and Non-QM), commercial mortgages, consumer lending, fintech lending, scratch and dent loans, and non-performing assets. Prior to joining the Whole Loan group at Raymond James, he was a part of the firm’s Taxable Banking platform where he was responsible for corporate debt transactions, trust preferred securities, sale leaseback transactions and ABS transactions.
Peter J. Benjamin, CMB
President, ACUMA
Peter J. Benjamin, CMB is the President of the American Credit Union Mortgage Association (ACUMA). A mortgage professional with 20 years of experience, Benjamin has held various positions throughout the mortgage industry including Senior Vice President of Mortgage Lending for Lafayette Federal Credit Union in Rockville, MD. During his time at Lafayette Federal, Benjamin led a high performing mortgage team that exceeded production and budget goals each year, reduced the Credit Union’s cycle times to the industry required timeframes; and improved the credit union’s application pull-through rate. As an association, Benjamin wants to see ACUMA members continue to foster the collaborative spirit that has made the association so great and work together to support the American Dream of homeownership. He sees ACUMA as a vital education arm that helps Member Credit Unions gain market share in the mortgage industry.
ACES Quality Management® is the leading provider of enterprise quality management and control software for the financial services industry. The nation’s most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® software to improve audit throughput and quality while controlling costs, including:
- 3 of the top 5 and more than 50% of the top 50 independent mortgage lenders;
- 7 of the top 10 loan servicers;
- 11 of the top 30 banks; and
- 1 of the top 3 credit unions in the USA.
Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent credit unions and other financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.
Sponsor Video: https://bit.ly/364idbU
