Today I leave Illinois, with the world’s largest corn maze, and head to Nebraska, with the world’s largest ball of stamps, things that make life interesting. (Nebraska is also the source of CliffsNotes, among many things, invented in 1958.) Regardless of where I travel, regulation and its cost to lenders, and therefore the consumer, is a constant refrain. My cat Myrtle would have agreed wholeheartedly. To that point, I recently received this note from an industry vet: “Rob, I think that with regard to the significant cost of regulation, the industry needs to change its rhetoric from, ‘Things that cost lenders a lot of money and don’t add anything to revenue,’ to ‘Things that increase the cost of a consumer’s loan transaction.’” The title biz is not immune to trends in our biz, and Nuria Rivera, CEO of Novation Title Insurance, joins Kristin Messerli and Robbie Chrisman on this month’s episode of Mortgages with Millennials, today at 10a PT/1p ET, for a discussion on Latino housing, the Hispanic Wealth Project, why reaching the Latino community should be an important part of your business strategy, the purchasing power of the segment, as well as Nuria’s story of immigration and entrepreneurship and the importance of understanding the culture. (Today’s podcast is found here and this week’s is Sponsored by Silk Title Co. Silk is for lenders who have centralized operations, are tech driven, process oriented, focused on the borrower experience, standardized in their approach, and most importantly… collaborative. Listen to an interview with Panorama Mortgage Group’s new President Hector Amendola on the importance of companies growing their Latino book of business.)
