SIR at the 2018 New England Mortgage Expo
On an unseasonably warm Friday at the beginning of January, the Strategic Information Resources team headed into the Convention Center at Mohegan Sun for the 2018 New England Mortgage Expo. The day opened with A Conversation With MBA Chairman David Motley, where David and moderators shared their insight on what is to come to the mortgage industry in 2018. This insight included how the tax reform and regulation may be affecting mortgage lending; although, based on his recent visit to Washington, David did say that there are a lot of reconsiderations happening presently so nothing is set quite yet, but he is optimistic about the written guidelines coming from the CFPB (Consumer Financial Protection Bureau).
After David concluded his introductory session, the remainder of the day was filled with sixteen concurrent sessions over four different time slots. This years’ Mortgage Expo had a few recurring themes in these sessions, and they weren’t necessarily about mortgages! Some of the trending topics this year included cybersecurity, regulatory updates and how to grow your business independently.
Attending the cyber security sessions was very eye opening, because while many of the standard threats are still around, such as phishing and wire fraud, there are a lot of newer strategies hackers are using to get consumers personal identifying information. For example, there are texting scams called ‘smishing,’ in which a text message will pretend to be a major company, like a bank or credit union, stating an urgent message requiring you to log in to resolve it. This reinforces the idea that we need to be very clear with consumers as to how they can expect us to communicate with them.
There was no shortage of opportunities to learn about new technologies that can help mortgage lenders improve their processes and their lead generation. However, one of the most valuable sessions was on how loan originators can use digital marketing to their advantage. A key takeaway from these presentations is that a professional Facebook page is a must have for mortgage lenders in 2018. A page dedicated to your professional life will help you to be able to be able to acquire client testimonials easily, promote your business (separately from your personal page) and allow you to do paid social media advertising on Facebook to targeted audiences that you select.
“I find the New England Mortgage Expo to be one of the best conferences that we at SIR attend and exhibit at all year,” our own Scott Pryor had to say about his experience, “It’s a fun time that’s well attended by mortgage industry professionals, giving us a great opportunity to network and showcase our many information services that help lenders manage risk.”
All of us at Strategic Information Resources were thrilled to have been exhibiting at the New England Mortgage Expo again. We all walked armed with the regulatory, compliance, data security and marketing tactics to help you, our clients, succeed in 2018. It was such a pleasure getting to see all of our wonderful clients, colleagues and friends; we hope you all enjoyed the New England Mortgage Expo as much as we did this year!