#MondaysMotivation – Power Move Monday!! – Might sound silly but this works, big time! Make a reminder for 2:30pm in your outlook calendar and gather your whole team together. Then everyone do their power move on the count of 3! (what ever it might be). It’s best to say something, and to do something at the same time that brings a smile and enhances your energy. This works, it might sound silly, but try it once!
If you do it occasionally through out the day, it can get your blood flowing, and help you bring the energy when it counts! #DuringTheSale! I’m doing mine right about the time I post my #RealEstateWV, and #BikesNRealEstate post on Instagram! You need to plan either activities to switch it up through the day, or to enhance your mojo half way into the work day! Trust me #PowerMoves work, just when you need them.
On a side note today, love love ♥ the fact that LO’s, Agents and Consumers are searching the site for guidelines, if needed use the search bar at the top and search any key word!
#MondaysMotivation – It’s the #JUICYList this week! Let’s start by getting virtual! These are tools, systems, trainings, software and must have’s to help LO’s (and RE Agents) gain more business! Today we start the week with the basics! The necessary tools you need to have an online presence. To start you need a website, then you need some sort of online application to be perceived by consumers as a valid mortgage player. Consumers do look at your online tools, a good website, or virtual application (or both) can be a deciding factor to move forward with YOU! ↓
Join Us In Creating Yes’s for your pipeline, and get virtual already. If you do not have a website, I’d highly suggest you get one from Lender Home Page! Once you have a license to originate one of the most important things to have is an online application that helps you take 1003’s! (Mortgage Apps is the name of the game anyhow) 🙂 Might as well have the ability to take 1003’s in multiple languages, even run DU or verify day 1 certainty with your application. PreApp1003 and Perfect LO are the two I endorse to get the job done. While similar in function, both are unique and different. And both are evolving with times and technology is only getting better. Which one? Well take your pick, I suggest you compare and contrast the two and decide for yourself. They are on the JUICY-List for a reason, they both help you create Yes’s for your pipeline.
My big thing is helping people, weather it’s businesses, individual LO’s or the consumer themselves. I encourage you to take advantage of the items on the JUICY List this week and take action to increase your own business!
#MondaysMotivation – NEW 1003 Week!! – We are less than two months away from July 2019 when the new 1003 becomes optional. ARE YOU READY? Have you looked at it, and do you understand the new stuff on it, or the things that stick out that changed? Actually section 1 is completely new! And this week we will go through each section and highlight the changes, what’s new, and how it applies to your new process of taking an application.
Today I will break down section 1, and provide my synopsis and point out differences and note-able changes. The biggest change is mulitple people are NOT on 1 application even if married. Only 1 person is. Every person fills out an application and then on the application there is a place to list other borrowers applying for this loan. (however they need to fill out a separate 1003) Again the 1003 claims only 1 social security number and date of birth for “the borrower” on it. And lists the names and total number of borrowers for the loan.
The same flow as the current 1003, just a different look and feel. The second major area on page 1, section 1a is the current address section. Much like the current 1003, the rule of having 2 YEARS HISTORY for EVERYTHING is pointed out. (most commonly missed thing for 1003’s) I love the military declaration section, and it’s interesting they added the new section for the primary language preference. Biggest notable is the radio button options for No Primary Housing Expense, and or Rent or Own. And to the right is an area to identify how much. Check it out ↓
Page 2 starts off with income section, and is considered section 1b. The main thing I like is the fact there is a flow for listing the job and then the amount at that job on the same place on 1003. Must like the current address and amount of that housing expense, this lists the job/self employment and that amount they make. If self employed that box is at the bottom left instead of top right, and has a declaration section for ownership that is new. Then a separate place to indicate income from self employment income. Over the right “gross monthly” income is broken down for those employed only, such as base, OT, Bonus, Commission, or Military income and or other. Also note-able is the “statement” box dead smack in the middle of this area. If they are employed by some party involved in the transaction it must be identified.
The next section “if applicable” is for additional income. Meaning someone whom has two jobs for example. This is the section for that. ↓
Next up is the PREVIOUS employment section, again “if applicable” and current employment is less than 2 years. Note-able in this section is the fact on previous employment the client must provide previous monthly gross and identify if self employed. Known as section 1d.
In the last section on page two, and rounding off section 1 of the new 1003 is section 1e. This identifies all “other” income. And the way it’s portrayed is a great reminder for LO’s to see as it lists all the other income types to remind you to ask.
Proceeding that at the way bottom left there is a line on page 2 at the bottom that identifies which client’s 1003 work information you would be looking at. I can see this one of those lines that drives LO’s nuts and is constantly left blank. This is why each person has a separate 1003 now. So even if they are married, just as section says at the top, you are identifying if that application is a “joint” or individually. And if with other’s you list the total number and names of all other’s that would have a separate 1003 associated with the transaction. Here’s a snip of the bottom of page 2. Get to know it is my opinion. 🙂
As always – #GetOnPoint with your own craft and know the 1003 like the back of your hand.
#MondaysMotivation – Structure matters for those that balance a file upfront! Since today’s Monday and you are getting contracts signed and sent over from accepted offers over the weekend…. Might as well, go over what to do! Since there are a lot of retail LO’s coming over to the #Wholesale #MortgageBroker side. The “way” loans are done are the same. You should be balancing your file upfront.
Structure Matters big time, the last thing you want to do is get to the closing table and have money left over from the sellers concessions that are left on the table. Structure your loan’s pricing to help the borrower get the best rate! Do this upfront and later locking is easy. I give a specific example where pricing made the difference in various buckets. ↓
Today as we talk about the HOME that got accepted, Loans are a by-product of the home purchase. So lead with the home to get more loans! How do you find more #REAgents with listings?? Help the one’s with them, gain more eyeballs. More everything will happen as a result. See what #LOMastery is all about! CLICK HERE
#MondaysMotivation – The People – The Difference! Wow what an awesome week in California! I will detail my trip a bit this week to update all, we’re back jack! Time to get #JUICY! Join Us In Creating Yes’s for your pipeline this week! Monday’s Motivation is about the people that make the difference. More than likely it’s you reading this! The difference is the effort and attitude of those in it to win it! They don’t complain, they work with others any way they can, they make that extra effort to see a win daily. That’s the daily dose today’s all about!
You can too, make a difference to the people in your community, and with the people on your team. All you need to do is make that extra call, make that extra effort to clear your queue, make that extra meeting you debated to attend. The time is now, the every bit of “extra” you can make will make your difference! See a win today with the attitude and effort of today’s message!
Wow was Cali cool, the weather for the most part cooperated and was sunny and beautiful. Air was fresh, and surroundings were awesome. Great food, sweet cars all over the place, and nice people! I met some really awesome broker’s, team members and AE’s I’ve not had the chance to meet face to face! The difference is the people and their can do attitude. I’m super stoked for the week and ready to make a WIN every day! Are you ready to #GetOnPoint and Join Us In Creating Excitement for your pipeline?
@BluePointMtg – The people are amazing, and the difference is the little actions that go above and beyond the call of duty. You want to close fast? How about have a personable connection and communication with those handling your files? Well our people are ready to help – give BluePointMtg a shot on your next deal! CLICK HERE!
#MondaysMotivation – The Deals are in the details! Pay attention to the details on the 1003, on the credit report, what DU says etc. There are a TON of details that make or break deals all the time. Just understand Deals are in the details and go about your week to make the details count! #MyAdvice
Today I go over some #Details that could help you make deals. 1st and 2nd are announcements from HUD, 3rd is a reminder on identity of interest transactions. Watch the details, make loans work because of it. Hint I saw one detail that listed the prior addresses on a credit report that indicate they “lived” at a subject property prior to purchase contract. #IdentityofInterest is questioned as a result. Deals are in the details, make sure you look at them. #SellWell
As always I’m here to help with “I gotta guy questions” and scenarios upfront. The more prescreen I do for my broker’s the more they close. Use me to help you get your loans done, that’s what I’m here for! #LetsDoBusiness
#MondaysMotivation – It’s #LeadWeek! And this week we go over all types of things that can help a LO actually BUILD their business. We’ll go over strategy, we’ll mention tools, and we’ll be here to help you close your loans! 🙂 Look you can’t grow without people to call, and people to market too, so the harsh reality is some of you are just not good at leads. You might be able to “sell”, but you lack the numbers to gain because you don’t have enough people interested. So what do you need to do?
Build a list! List building is the backbone of marketing, advertising and growing your business. The more active you are in building a list of prospects the more likely you will turn a prospect into a client once you get the chance to sell them right! 🙂
Leads, leads and more leads. This week, I am going to give away things that can help someone grow their business, and I am going to provide solutions and solve common problems most LO’s have. Today I start with the obvious, a training by me personally that can help you learn to grow your lists, online and off. I call it THE BLUEPRINT!
And I’ve been helping people with this for over 4 years now, and it works. Its’ actually amazing to see when people start this, and grow over time. When done correctly it’s a branding strategy that can help you gain a market presence. You can start with having the basic necessities to market to and build a list. I suggest some email campaigning software like (Mail Chimp connects to your FB page – FYI or Constant Contact) and I suggest something to make a FREE landing page. (Wufoo).
#MondaysMotivation – In Good Faith I hope you disclose all fee’s to your new clients from the weekend today! And do it with all relied upon information at the time of disclosure. In all reality this hasn’t changed at all over the years, sure disclosures changed, names for them changed, but the philosophy of “doing loans” has been the same for decades.
There are fee’s that can change, fee’s that can NOT change and fee’s that can change within a 10% tolerance. And if noted within 3 days of an event, new information can change fee’s all together. A change of circumstance can be issued to do just that. The philosophy is the same as it has always been, the “act” of doing loans has been the same. If the LO disclosed in good faith and information “beyond their control”, or information “relied upon at time of disclosure” or a “discovery of new information” changes it warrants new disclosure of those fees and structure of the loan.
Here’s the chart for your reference, a great one to keep handy when disclosing to clients fee’s. If you do your job right in the beginning and even “over disclose” there isn’t any reason to worry about your loan and structure. (Assuming the loan qualifies) lol. Here’s the chart I suggest you keep handy! ↓
As always – I’m in the office taking “I gotta guy” questions to help LO’s structure a loan they can disclose in good faith.
#MondaysMotivation – Set new #Goals and #ActionPlans to achieve them. It’s a new month and new quarter, time to REACH and create a STRETCH for yourself! What I see is LO’s turn in goals (same with AE’s) but they are all worried about “hitting” them and don’t push themselves. A goal is sometimes NOT going to be hit. Is that ok? Yes.
Don’t fall into the trap of just putting numbers on paper without an action plan to go with it. If you want to increase your business focus on the “how” you’re going to do it. Not just the number you write down. Break your goal down into action-able steps to achieve the goal. Then go hog wild at trying to hit it. You’ll see more success that way!
#GetOnPoint – With #BluePointMtg – We’re growing and wholesale lending is expanding with new #MortgageBrokers faster than ever in the market place. We want to help you and your friends new brokerage get more loans done! With #Niches we offer, we fit in most lending rosters to help mortgage brokers close more loans. Let’s chat business — Shoot me an email – CLICK HERE
#MondaysMotivation – It’s a NEW MONTH! Yep, LO’s and Broker’s from the world should be looking at their pipeline from the 15th to the 15th every month. What apps you take now are closing in April. Yeah still a few “might” close fast, and that’s a good aim, but generally speaking this is how the most successful look at the month. AE’s included.
TIME TO PUT IN THE WORK!!!
Time to #GetOnPoint with #BluePointMtg! Got an “I gotta guy” scenario, or guideline question(s)??? Reach out to me HERE! For those of you not approved yet, the full Broker Package is only a click away — GET ON POINT CLICK HERE!
The JUICEman! 