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Mortgage Database Created To Track Bad Actors Now A Recruiting Tool

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Unique IDs created by Nationwide Multistate Licensing System can reveal competitors’ loan originations by product, loan amount, geography and loan officer.

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A national database of licensed loan originators that was created to weed out bad actors is now being used to help mortgage lenders recruit talented prospects.

Launched in 2008 in the wake of the subprime mortgage bust, the Nationwide Multistate Licensing System issues a unique identifier, or NMLS ID, for every individual, company and branch office licensed to do business. That number can help regulators track bad actors who engage in illegal or unethical practices across state lines.

But a loan originator’s NMLS ID can also be a tool for spotting and recruiting talent, thanks to tools being offered by big data aggregators like Attom Data Solutions and CoreLogic.

This month, Attom announced that it has integrated NMLS loan originator data into its database, allowing clients to pinpoint loan production by individual loan officers, lenders and mortgage brokers.

CoreLogic has partnered with Big Purple Dot on a mortgage recruiting platform the companies say will provide employers with detailed loan production data, coupled with a customer relationship management (CRM) service to help lenders in their recruiting efforts.

Roxana Davidoff

“Our new product performs a deep dive into each loan originator’s production metrics, providing unrivaled mortgage insight and technology to help loan originators not only hire but to also effectively forecast and operate their business,” Big Purple Dot CEO Roxana Davidoff said in a statement.

Big Purple Dot claims one of its clients, an independent mortgage banker, has used the platform to recruit loan originators who have helped the company boost loan production by $450 million.

When mortgage rates hit historic lows in the last year, business boomed for many lenders as homeowners beat a path to their websites to refinance existing loans at lower rates.

Now that rising rates have severely curtailed refinancing business, lenders are engaged in a fierce competition to win business from would-be homebuyers. That makes loan officers and mortgage brokers who have strong ties to real estate agents and homebuyers in their local communities valuable commodities.

Attom says the integration of NMLS IDs into its rich mortgage database allows companies to build market share by measuring competitors’ loan origination activity by product, loan amount, geography and loan officer and:

  • Recruit loan originators who match a desired profile
  • Identify brokers and lenders for potential partnership and business relationships
  • Acquire new customers and employees by publicizing past successes

Todd Teta

“Our mission at ATTOM is to increase real estate transparency and fuel innovation. In doing so, we continue to expand our data footprint to enhance that value proposition for our customers,” said Attom executive Todd Teta in a statement. “With the addition of this new data product, clients will be able to drive increased revenue and growth opportunities, as well as realize greater market penetration and streamlined decision-making.”

Irvine, California-based Big Purple Dot provides a mortgage marketing platform that includes CRM lead management, automated marketing campaigns, and Short Message Service (SMS) and Multimedia Messaging Service (MMS) video services.

Brian Battaglia

The partnership with CoreLogic — which CoreLogic executive Brian Battaglia described as a “strategic alignment” — allows Big Purple Dot’s clients to analyze an individual or company’s loan production volume and reach out to them with tools such as video messaging, SMS and automated marketing.

Aldo Sarmiento

“In today’s challenging market, lenders need to know more loan production details when hiring prospects to ensure they will excel,” Big Purple Dot President and Chief Technology Officer Aldo Sarmiento said in a statement. “This new recruiting platform gives lenders everything they need to know.”

Rising mortgage rates have forced a number of lenders to downsize this year. Baltimore, Maryland-based Superus Careers announced the launch of the Mortgage Career Exchange in January, a tool for recruiters and job seekers who can upload their resumes or browse current mortgage industry openings.

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