Whacked Out Wednesday – Best Practice Mortgage 101

#WhackedOutWednesday – Best Practice Mortgage 101~!! The whole whacked out wednesday theme came about talking with a LO about the stuff that happens with loans.  We were actually laughing at some of the most common mistakes and “Gary” said this to me, that’s Whacked Out Wednesday for ya… So right then I called it and knew I was going to brand it.  So all my Whacked Out Wednesday video’s have been centered around helping LO’s know what not to do.  What best practices there are and mortgage basics to help the LO community.

Today is not an exception, and one I’ve gone over periodically as it seems many  LO’s seem to skip one of the most important steps.  Retail, Wholesale, it doesn’t matter.  This is a mortgage 101, best practice that you should implement.  ↓

When I was an LO at Ameriquest and at QuickenLoans I will tell you that this was a requirement to close the loan.  The LO had to sign and “approve” the HUD-1.  Now days the last item breaking down the fee’s and structure of a loan is a CD.  It’s still all the same and a best practice to make sure the LO is the one that is approving the CD.

NOT JUST THE LENDER!!!  – In fact in most verbiage of a package sent to escrow/title companies from any wholesale lender, it does say just that.  That the LO should be approving the transaction.  It’s just overlooked, and many escrow/title’s send the CD to be approved back to the “Lender” prior to sending it the the LO/Broker for approval.  That’s backwards in my opinion.  And YOU need to be accountable for what you “sold” the client.

Make it a best practice to sign off on the final CD yourself.

As always –

#SellWell

Two 4 Tuesday – REVERSING it UP!

#Two4Tuesday – Reversing it UP! There are a ton of LO’s I deal with that have NEVER wrote or even thought about learning reverse mortgages.  This is a growing trend that follows the biggest set of #TrendSetters in the US.  #BabyBoomers – And more and more people are exploring this option.  Might as well learn how to create more opportunity for yourself is my thoughts.  #GetOnPoint

With #BluePointMtg we help LO’s that have never done a reverse mortgage by doing all the “heavy lifting” for them.  Seriously we generate all the paperwork, we even pay for the inspection (in CA only) and we provide the counseling numbers for the client to call and offer to place in a “Living Trust”.  *For super cheap – Ask your AE for more info.

#Two4Tuesday – You get PAID $$$ Front and BACK just like the old days on this one.  And it’s growing popularity among the market place as a fantastic PURCHASE LOAN! A ton of “snow birds” are tired of traveling and just want to sell and then buy their last home in a warmer climate somewhere in the US.  It’s a trend.  And these people are putting down 50% or more in most cases, and are eligible to do a reverse loan and have NO MORTGAGE PAYMENT EVER!  And be in their last house!! What?? This loan makes so much sense, it’s time to educate the LO’s so this summer LO’s can educate the clients.  Let’s go!

Reverse it UP this year, and don’t give away your reverse mortgage leads to that one guy.  Do them yourself, we’ll show you how!  CLICK HERE to get approved with BluePointMtg!

As always –

#SellWell

Monday’s Motivation – Collect more Names!

MondaysMotivation – Collect more names!! Great to see LO’s taking advantage of prime times like the super bowl weekend to post and make a message go viral! This is awesome, but is it??  If you look at any “marketing message” you send out and it advertises a website you don’t own, you’re missing the boat!  Marketing is about building a list, 100% of the time.  It’s about getting people to wave their hand and say “I’m interested”!

Well what if your picture directs people to opt in at another website that you don’t own? Do you see their information?  Do you get that name after the fact?  Be smart marketing is the motivation today people! I see it all the time where one LO does a great post and soon afterwards another LO uses the same content.  That’s great and all, but where are you directing your audience?  Do you have something in the “ad copy” that you write to have people reach out?  Do you tag your business page or check in?  Do you have a short code you use to promote?

With FB and many other social platforms the algorithms do not like when you direct people to an outside link, as they are leaving the platform.  So to always post “links” won’t work with reach the way you want it to.  However, comments are game on.  You can always go back to “comments” and post your link.  What are you posting to direct a prospective home buyer to fill out a short form with their information?  That’s the 1 million dollar question today!

So here’s some tools to help you LO’s.  When I started this all, I didn’t have a lot of money and needed to do things FREE!  So here’s a list of tools that can help you collect names, phone numbers and emails all day long.

  1. Wufoo.com = Great site that if you sign up for, you get 5 free interactive forms you can make.  Basically like a “short form” or “long form” questionnaire to qualify your clients and collect their information.  ALL FREE!
  2. Website = Many of you have a website, and you have a “Contact Us” section of your site that allows a visitor to enter their information.  Have you used that page?  For many it would look like this: https://www.awesomemortgage.com/contactus
  3. PreApp1003 = The short code is awesome for use in marketing like this.  You can tell anyone to “text” the word “Juiceman” to 33655 for example.  *feel free to try 🙂  This will enable user to enter any information and gain yours or complete a virtual application.  CLICK HERE
  4. Phonesites = By far one of the easiest ways to collect social profiles on just about all social platforms.  You don’t need to be a programmer to know how to use this as a way to make landing pages to help you advertise.  CLICK HERE
  5. Lead Ads with Facebook Funnels = Facebooks own lead form that allows you to capture the whole social profile without them putting in their name, phone number and email.  It’s automatic.  A complete done 4 you system to turn on a faucet of leads.  CLICK HERE

Today I’m adding to my list of names, phone numbers and emails and adding a bunch of Mortgage Broker’s to help in closing loans all year long.  Let’s partner and do some wholesale mortgage business together!  As always – CLICK HERE for that!

Not tired of links yet are you?  It’s only Monday! Have fun collecting leads today.

As Always –

#SellWell