Tony Gallegos - The Mortgage Cicerone FHA /VA Training Solutions

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Mortgage and Lending - Cognicorp Mortgage Banking Advisory
Cicerone - cic•e•ro•ni (-nē) - A guide or person eloquent in sharing knowledge and inspiring impactful action Biography After 22 years of building, leading and managing large scale enterprise FHA/VA production entities, most recently as Vice-President and National Retail Government Production Risk Manager at Wells Fargo Home Mortgage (the nations #1 government lender), Tony Gallegos and his business partners started Cognicorp FHA/VA Training Solutions...thus providing rare but powerful evidence it is actually possible for an individual to re-emerge from the corporate collective, even after full assimilation has occurred. FHA / VA Training “Quite frankly, we have constructed a better way for mortgage bankers to train their staff quickly, effectively and affordably. This in turn allows our clients to increase and capture additional Federal Housing Administration (FHA) and Veterans Administration (VA) mortgage market share!” By utilizing our synoptic baseline training curriculums and conducting a comprehensive consultative analysis of your distinct credit overlays, standard-operating-practices (SOP’s) and technology system requirements, we will integrate an enterprise learning solution that harmonizes with your company’s business goals and objectives. This is done by providing: • Impactful knowledge transfer of FHA/VA skills to both individuals and corporate entities utilizing the latest advances in adult education (yes, adults learn differently) • Comprehensive access to scalable and cost-effective off–the-shelf enterprise FHA/VA training • Training and technology solutions customized to outcomes specific to your needs and objectives. Through consultation, integration and training, we empower your organization with the necessary and critical skills to make the right decisions and avoid the costly mistakes that occur when mortgage bankers don’t apply prudent government loan business operating practices. If you are interested in learning more about Cognicorp FHA/VA learning solutions, please call Tony Gallegos directly at (770) 627-2674 or visit our website at www.cognicorp.com. My Story In 1986, Tony began his mortgage banking career at the age of twenty-three. As a mortgage originator, he quickly reached the top one-percent of the industry (412 funded loans in one year) by the time he was twenty-nine. In 1989, Tony joined a start-up mortgage banking operation and over the next eleven years directed its growth to the point of funding in excess of $2 Billion dollars in mortgage production. Due to the success and remarkable growth, his operational, marketing and sales strategies were highlighted in both the Denver Post and Hispanic Business Magazine. In 2002, he accepted a position with Wells Fargo Home Mortgage. Tony quickly rose through the corporate ranks and was promoted on average every fourteen months. Subsequently he served in the capacity of Area Sales Manager, National Government Sales Product Manager and to his final position at as Vice-President and National Retail Government Production Risk Manager. As Vice-President and National Retail Government Production Risk Manager at Wells Fargo Home Mortage, Tony successfully managed the retail production risk and quality of FHA/VA production that exploded from $6 Billion in 2007 to an estimated $25 Billion in 2009. More amazingly, despite record breaking volume increases and a severe shortage of experienced government sales and fulfillment staff, key government quality metrics improved by over 50% during this period. As a consequence of the 417% growth in residential government loan volume, there was a need nationally to train en masse the Wells Fargo team in the intricacies of selling and fulfilling quality FHA/VA loan products. Thus, a critical component of this unprecedented growth involved extensive enterprise wide FHA/VA employee training/assessment and implementation of quality control measures in the origination, processing, underwriting, closing, post closing, insuring, regulatory compliance, loan delivery, servicing and loan administration of government loans. In addition, Tony has been intimately involved and worked directly with HUD, OTC and the Inspector General (IG) in regards to FHA/VA audits national in scope and scale. Tony currently lives in the Atlanta area with his four daughters and wife, is a University of Colorado alumnus and currently in the latter stages of completing his Masters Degree in Global Consumer Marketing at one of the world’s leading academic institutions.
RECENT BLOG POSTS
The Inspector General (IG) for HUD is again seeking the elimination of seller provided down payment assistance programs (DPA's) provided through non-profits such as Nehemiah and AmeriDream that provide the down payment and are reimbursed by the seller. According to a recent Bloomberg article:"The...
05/10/2007
Interest rates remain inverted, a market condition in which the longer you commit to lending your money, the less that you earn on your investment.Why is that a big deal? Imagine if a friend asked you to borrow money for two years you charged him interest on that money. We can list some of the ri...
04/29/2007
Did you know:After 30 years, a 30-year mortgage term is paid in full. After 30 years, a 40-year mortgage term has 57% of the original borrowed amount remaining. After 30 years, a 50-year mortgage term has 81% of the original borrowed amount remaining.Of course, it's not all bad for the holders of...
04/29/2007
According to all of the headlines, existing home sales are down across the country.  Way down.  Check out this sampling:Sales of Existing Homes Plunge Steeply (NY Times) Existing Home Sales Plunge In March (Houston Chronicle) Existing Home Sales Plunge, Biggest Retreat In 18 Years (Salt Lake Trib...
04/29/2007
So much for market calm.  The mortgage market tanked yesterday when, in response to conflicting data about growth and inflation, San Francisco Fed President Janet Yellen said "watchful waiting" is the Fed's likely next step.  This surprised markets because most expect the Fed to lower the Fed Fun...
04/29/2007
During testimony to the House Financial Services Committee, the National Association of of Home Builders (NAHB) called on Congress to enact legistlation the would revitalize the FHA and enable it to recapture a significant portion of market share again.According to NAHB's Bill Killmer, group vice...
04/29/2007
The National Association of Realtors has also called upon Congress to enact legistlation that will conform to today's mortgage environment and enable the FHA to recapture significant market share."The FHA program makes it possible for higher-risk, yet credit-worthy borrowers to get prime financin...
04/29/2007
After blogging for months and being able to hide behind my picture and posts, you can finally hear me via podcast. Actually, this week, Morgan Brown from one of my favorite blogs Blown Mortgage, interviewed me regarding FHA, current market conditions, originating and the subprime environment.I wa...
04/29/2007
Wondering how the dramatic change in sub-prime mortgage lending will impact you?  Try this stat on for size:  Since 1998, 1.4 million families have used sub-prime mortgages to buy their first home.As sub-prime lending guidelines get tighter, there will be fewer first-time home buyers and that imp...
04/24/2007
It's happened again! With the credit markets tightening, underwriting guidelines are going through a paradigm shift. While Fannie, Freddie, FHA and VA (prime products) guidelines have not changed much (yet), Alt-A and subprime guidelines are going through a metamorphosis. It's gotten to the point...
04/24/2007
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