2020 Look-ahead with NFM Lending Founder/CEO, David Silverman
2020 01-31 | NFM TV
NFM Lending doubled its sales volume in 2019. NFM TV caught up with Founder and CEO David Silverman to discuss the company’s secret to success, the near future of the industry, and how NFM is headed towards being a Top 20 Mortgage company in 2020.
Full Transcript is Below:
- [Announcer] Executive leadership. Industry news makers. Top producers insights. This is NFM TV.
- David, great to see you in-studio again.
- You as well, Greg.
- Last time we did this look ahead was January 2019, and NFM doubled in volume, became a top 30 lender nationwide. So here we are again in 2020. What is this year gonna look like for NFM?
- Hopefully we'll be just as correct as we were last year maybe we got a little lucky, but there was a lot of hard work that went into it.
- Yap, lot of tail winds. When you say lucky, we're talking about interest rates. I want you to pull out that crystal ball, tell the world what you see coming this year, will there still be those tail winds?
- Well, I'll give you my opinion. I do think we have tremendous tail winds going into 2020. It's an election year, I see the bond staying in this bandwidth between, you know, 150 and 215, somewhere in there. Which means, you know, that whatever movement there is in the rates, it shouldn't be dramatically enough to affect anybody's business going south. May affect the level of refis, we had such a boom in refis last year, but I still see significant refis in 2020, maybe a drop-off of 10% from previous year in refis.
- Okay, that's good stuff, and of course the the big buzzword in our business is technology, the big word, and NFM just grew in leaps and bounds in that area. Give us your view on where the company stacks up and where you'd like to see it head in these next 12 months.
- When we talked last year about that I felt like we were getting right there. Now I really do think we are right there. I went to the digital conference with Christos, our Chief Technology Officer, and I was actually surprised at where we stacked up. I was surprised that most companies didn't integrate their LOS with all their little tack-ons, that they all had to reenter information and all the technology that was out there didn't make it easy for that, and we've been doing that, we've been building that from the inside, so we're gonna continue to build on that with the premise that we want information entered one time.
- Got it.
- And for it all to talk to each other.
- So NFM closed north of $3.2 billion over 12,000 loans in 2019 and you've still managed to hang on to that secret sauce which is great culture. Knowing everyone, how do you maintain that as the company continues to grow? What's the plan and how do you execute it?
- Yeah, we have really done a good job doubling the company in volume and it still has that small feel. That's interesting, I think the strategy is just not more so much as just find the best, find the best leaders, larger groups, and just if you work at it day by day. Everybody here has a great attitude, there's great communication here, you keep the communication going, you limit the amount of bodies that you're bringing in from a leadership standpoint, and I think it's much easier to maintain that smaller family feel.
- All right, well, appreciate the moments catching up with you, as always, and I look forward to next year, 2021, doing a review and we'll see where it takes us. Well, one last thing, let's leave them with we'll be top 20 in 2020. That's the goal, right, 20 in '20?
- 20 in '20.
- 20 in '20 for NFM. CEO and founder David Silverman. I'm Greg Sher from NFM TV, we'll see you next time.