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Tammy Butler, Owner & Publisher, Mortgage Currentcy

Tammy Butler

Tammy Butler knows that understanding mortgage rules and regulations can be daunting even for the most seasoned of professionals. That’s why each day she is leveraging her nearly 40 years of experience ensuring that brokers have access to the ins and outs of the regulatory framework through her company Mortgage Currentcy.   
How has technology evolved and improved in the mortgage industry over the past decade? 
We are slowly getting there as an industry, but truthfully we have a very long way to go compared to other industries. Our technology solutions are fragmented, some are outdated but we are forced to use them for lack of other solutions, and this forces lenders to purchase multiple solutions or pay for custom work to get the technologies to play well together. COVID has shown us that we can develop alternative ways to get the documentation we need to approve and close the loan. 
What is your process for developing new services that can be most useful to the mortgage industry? 
We are trend-watchers that follow many originator groups to see where the pain points are in the process. Our staff collects what we see in those trends and then we discuss if our product could be a solution for any of those trends. 
What do you think is the next big step in technology for mortgage professionals? 
Many people do not know that I developed the first pricing and underwriting engine many years ago. Non-profit lenders used it to guard their clients against predatory lenders and large home improvement companies to assist their clients in financing projects. Our goal is to morph Mortgage Currentcy into a technology that will allow even a novice originator to find the correct solutions for their clients quickly and easily, thereby reducing leakage and increasing profits.  
What is your business philosophy? 
If you believe in it, jump off that cliff without a parachute and fight to soar! This means taking a calculated risk, being smart about business principles, and paying attention to the details. If you can commit to that, and you believe in what you are about to do, then take the risk.  
What are the biggest challenges facing mortgage brokers & what’s your advice for overcoming them? 
Most brokers start as originators and then become a broker/owner. The roles are completely different. If you choose to become a broker, you need to get smart about business metrics, regulatory issues & compliance, and how to scale your business successfully. It is not as easy as originating loans and recruiting others who originate loans.  
How do you see the mortgage industry evolving in the future? 
I think a lot of the “easy loans” such as stable W-2, great credit score borrowers will be picked off by technology/call center operations due to their ability to market heavily and reduce the cost to the consumer. This means that loan originators will need to get smart about building strong relationships with the consumers in their community, not just the real estate agents.  
If you could go back to your first day in the industry, what advice would you give yourself? 
Find your own path to success and understand that it may not look like others! We are all different and this difference can help you create a niche that you are passionate about.