Tailoring Your Lock Policies in Turbulent Times
Thursday, December 1, 1:00 p.m. central time
As the market continues to face financial stressors, credit unions have an opportunity to refine their lock policies to support the evolving needs of their members, while also protecting their own profitability and mitigating risk.
In today’s environment, rising interest rates have significantly reduced refinance opportunities, and untapped equity is being accessed via home equity loans that have a lower cost of financing. Additionally, supply-side constraints have made renovation lending difficult, and challenges with housing inventory and affordability have weighed on what should otherwise be a robust purchase market.
Optimal Blue, a division of Black Knight, will cover the steps credit unions can take to fine-tune lock policies to address today’s turbulent conditions.
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CMB, Director, Solutions Specialists
Mark Teteris, Certified Mortgage Banker, began his mortgage industry career over twenty years ago and has held roles in sales, operations, and executive leadership. As Director of Solutions Specialists at Optimal Blue, now part of Black Knight, Teteris leads a team of subject matter experts who consult and deliver a sophisticated suite of secondary marketing, data and analytics, and compliance solutions across the industry. Teteris is a Certified Mortgage Banker (CMB) and past President of the Minnesota Mortgage Association, where he also served on the board of directors and chaired its legislative committee. He has also served on advisory boards for several national lenders. Mark is a graduate of Dunwoody College of Technology and the mini-MBA program at the University of St. Thomas.
Product & Pricing Solutions Specialist – Team Leader
John Dumonsau is a Sales Solution Specialist for Optimal Blue. John provides subject matter expertise through all phases of customer interaction including discovery, in-depth product demonstrations, and strategic sales consulting. Dumonsau joined Black Knight upon the company’s acquisition of Optimal Blue in 2020. In his previous secondary marketing roles at IBM and a federal depository, Dumonsau managed lock desk functions, and developed and oversaw pricing strategies, profit and loss reconciliation, and more.
Peter J. Benjamin, CMB
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.
Optimal Blue delivers innovative solutions for pricing, hedging, trading and MSR valuation – all the capabilities credit unions need to optimize their secondary marketing business. The company’s premier product, pricing and eligibility engine – the Optimal Blue PPE – delivers deep, broad-reaching functionality that is currently used by 61% of the top 500 mortgage lenders in the U.S. to price and lock 40% of mortgages completed nationwide. For more information on Optimal Blue’s innovative, end-to-end secondary marketing automation, visit OptimalBlue.com.
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