Cheat sheet on FHA DTI today. You should be able to look at a 1008/1003 and determine if you have a workable deal, this is how. #Checkitout #SellWell
Tag Archives: Mortgage Banker
TWO for TUESDAY – LE & CD Guidelines
#TwoforTuesday I absolutely love guidelines, I’m a guideline geek. No joke, they help my whole world turn. Today I talk about the TWO MOST IMPORTANT pieces of paper you deal with in the mortgage world, the LE and the CD. Some people forget Saturdays do and don’t count, some people forget how to count! Seriously counting to three is different between the two disclosures. Check it out below. Great Two 4 Tuesday review! #TheSalesJUICE
ATTN: MORTGAGE BROKER’S
WEBINAR THURSDAY THIS WEEK! @ 3PM EST. I have developed the name the Mortgage JUICEman for a reason. Join Us In Creating Excitement as I go over a year long campaign that anyone can do. It doesn’t require a lot of capital (in fact most do this campaign with little to no money out of pocket) and will be a JUMP starter for many to double if not TRIPLE their business as a result.
Sure there’s all this fancy dancy stuff you see on social media, and anyone can say go buy some advertisements, or make a Facebook FUNNEL. Most just don’t have the time for that. I am keeping it real, and what I will show you is;
#The number 1 marketing campaign that I’ve helped over 25+ Brokers personally execute and make six figures with.
#The secret to using trends and timing to your advantage.
#The number 1 way to diversify your reach and set a foot print in your own local market to be the go to guy/gal for referrals.
In a RISING RATE environment, you will need to learn to diversify, and how to make an impact to your own business. If not a year from now you could be wishing you did some of the things I will show you HOW and WHEN to do. Most of these suggestions are “organic” and are the ticket to helping you sustain, and see market “GROWTH” in times of a squeeze. Check out the WEBINAR THIS WEEK ON THURSDAY @ 3pm EST.
Click the below link to Register for the webinar this Thursday!
https://thesalesjuice.clickfunnels.com/registration-page12529751
Monday’s Motivation – Creating Urgency
Go big or go home. Create urgency in a rising rate environment is so imperative. What you send a client today, may not be the “same” price tomorrow. Heck even mid day. You and I know that in the mortgage industry, clients do not. Explain how the rates work and use the rising rate environment to create urgency to get your “books” back. #SellWell
#TheMortgageJUICE
Thankful Thursday – The power of Self Talk & Not giving a Hoot!
If your in Sales you want to watch this one. Fact will always remain, that those that “DO” are the one’s that get paid. It’s funny, so many sales people doubt themselves or think doubtful in other words. You should really talk to yourself everyday, self talk is so powerful. I can give countless examples of when I told myself “this call is it” and then landed the sale. I can give countless examples of when I was told I was loud or people in a call center said, man does that guy ever shut up! HA HA>.. I was the doer, and why I will always be a top sales guy. You should too, stop caring what the other sales people think in your office so much, start caring about your paycheck. Stop hanging out with the “cool kids” at the cooler, and make an extra call. Stop caring if the client will get annoyed, if you have value give it to them with passion. I’m so thankful for my life, as I embraced these at a young age, and these made me push forward, dispite anyone ever telling me I couldn’t or shouldn’t. Watch below’s video, if your in sales this should hit home. Make Thursday the most productive day of the week.
#SellWell #TheSalesJUICE
Two for Tuesday -Continuity and 4506T
Two for Tuesday back at it. Gotta love guidelines in this wonderful world of Mortgages!! Two common questions recently see video. And remember with 4506-t’s now they really only need to be in the file if two things:
- If the client is Self Employed/1099 – If that box is checked on the 1003, you will need transcripts in the file.
- If the client has Commission income that is greater than 25% of their overall income. You will need transcripts in the file.
**Friendly reminder, if a wage earner, technically the transcripts are a filing from the company on the clients behalf. The lender actually verifies that income was reported by the company. So if the client hasn’t filed yet, it’s ok. They don’t technically need to file until April 15th. (or do an extension and they have until Oct 15th)
#TWO4TUESDAY
TGIF – Weekend Call to Action
The Grind Includes Friday, and the Weekend Call to Action. This weekend is a great weekend to get involved in the community. Go to the local municipalities and find out if there are any “meetings” coming up. What ever it may be, you might be able to contribute value. And of course network with those involved. I challenge you to look it up and take action this weekend to join or attend (chamber of commerce) any meetings next week.
New or seasoned, if you do not do this and you sell something, get involved, and use this weekend to do some research on where. My advice is to get involved in the local community to join programs that give-back. Do something that also could help the industry your in, or give you a way to network with those in your industry. Over time if your a LO for example you should have “several pillars” that you can gain business from. For example, Realtors, divorce attorneys, CPA’s, builders, construction companies, handymen, insurance agents just to name a few. The best way to do this is to refer others to those partners you would like to do the same for you. When you “show up” with leads for them and look only to network, it’s only then a matter of time before someone is referred to you. You have to be present and persistent.
By that I mean, you can’t just go once or twice and expect others to refer you business, you have to get involved. Every metropolitan town has one of these, it’s a Real Estate Mastermind group or Business Networking Group. Find them in your area and join them. Ha that’s funny, Join Us In Creating Excitement. (JUICE right). Anyway, find one in your area. Trust me if you go and actually engage and look to help other people in those groups, over time it could be the best “pillar” you’ve ever built.
There are a few out there. The best is exactly what I’ve described. A Local Business Networking “event” called LBN. The group to follow as a recommendation is a group from Michigan I believe. Keith Stonehouse, and Al Crawford, the LBN masterminds I see growing the local networking on social media and in the local areas of Michigan. I know these groups and types like it are all around the Nation. WEEKEND CALL TO ACTION> Find one online, write them an email, fill out a form, write down a number, do something to join and follow up on the next “event/meeting” in your area. It will pay off in the long run.
PS… The concept and communities I speak of welcome and benefit from sales professionals of all fields out there. All you need is a handful of referral partners in different B2B segments that can benefit from your product/service use. Diversify your “portfolio” from whom you get referrals from and where you get them from. Never put all your eggs in one basket! 🙂
#SalesJUICE
- The Mortgage Juiceman
Whacked Out Wednesday – Found, Felt, Feel..
Whacked Out Wednesday is back with some statistical ways to make the middle of the week have impact. Here’s a hint, it starts with you! Create ENERGY, EXCITEMENT, and EMOTIONS today. Use Feel, Felt, Found the opposite way today!
Two for Tuesday – Two Exceptions to DTI
Two for Tuesday, for the love of FHA. And the “I gotta guy” questions I get all the time. When you run DU and it doesn’t approve the loan, but gives you options to refer to manual guidelines. Here’s the tips for DTI exceptions on manual underwriting for FHA.
#TwoforTuesday
Monday Motivation – Power Moves
You got one I know you do. Almost all top sales people have one. It’s a POWER MOVE. And you should have one. Some people use it to start their day, a stretch, or a cup of coffee (COFFEE is for CLOSERS), or some routine in the morning that helps them get in the right mindset.
Some have a power move through the day or when they see success. I suggest this, in my videos you see me clap my hands at the beginning. That’s a power move I have. When I originated loans at Quicken back in the day, we had a big cow bell on the floor, and when you got a “book back” we would ring it! It created excitement and everyone on the floor cheered or clapped. It was something done while on the phone and others could purposely hear it. That was more of a sales floor power move, and every person wanted to ring the bell.
Personally I have had a power move when I got a yes of spinning the chair around once, standing up and clapping once and then dialing another lead. I suggest you develop a power move, any POWER MOVE can work. Some just have their “special pen” they write with and I’ve seen some play with those little squishy balls on their desk. Develop something is what I suggest. And then do that power move this afternoon.
Remember the best time to get another “yes” is right after you got one. Do your power move in-between them is my suggestion. Do your power move when you get 3 no’s in row. Do your power move at 2:30pm when your eyes are heavy. It helps, and it can be a catapult to help you gain momentum in your day.
Silly? No, not really, they’ve been around for a long time. And is all about finding one that you do, that helps your mindset. Then display it today. If you don’t have one, make a new one up. You’ll be glad you did. (Spin the chair around, you know you want too)
No matter what it is, ringing a bell when you gain a client, clapping, jumping, spinning around in your chair, do something today and everyday that can be your POWER MOVE. Or develop a new one as a call to action from Monday’s Motivation. It could be just the “move” that helps you. 🙂
#SellWell
-The Mortgage Juiceman
The JUICEman! 