Matthew Durkee
Executive Vice President and President of New England at NBT Bancorp, Inc.
Mr. Durkee has over 32 years of experience in the Mortgage Banking Industry. He currently serves as the Executive Vice President and President of New England for NBT Bancorp, Inc. He joined NBT Executive Management Team in 2015 and was promoted to President of New England in 2016. Prior to joining NBT, he was Senior Vice President of regional financial services and President of Chittenden Canada for People’s United Bank. He is involved in the United Way of Chittenden County and Chairman of the Vermont Banker’s Association.
From Matthew Durkee
A bank can compute income for a portfolio loan to meet ATR standards and not get caught up in the 400 pages of GSE guidelines on computing income.
We’ve got a huge advantage of knowing our customer through the banking relationship and the data generated by the banking relationship.
Mining that data and predictive analytics can be done with first-generation data. We don’t need D1C, as we already have the data and we hold many loans in portfolio. The revised QM regulations can really help banks be better competitors, especially if we couple the data and reasonable underwriting criteria.
There’s a space for bank-led ‘make sense’ lending that overlaps with the non-QM lending being pioneered by private label lenders.
A bank can compute income for a portfolio loan to meet ATR standards and not get caught up in the 400 pages of GSE guidelines on computing income. The bank has the deposit history, and can use prudent, make-sense underwriting to help borrowers that don’t fit neatly into the FannieMae documentation box.
About Matthew Durkee
In Matt Durkee’s estimation, bank-led ‘make sense’ lending provides an answer to many complexities now facing mortgage banking.
