Tag Archives: Mortgage Brokers

Mortgage Originators

Weekend Call to Action – Cadence Frequency creation action plan

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#WeekendCalltoAction – TGIF – The Grind Includes Friday – Create a cadence frequency plan of attack! Actually write it down! YOU WANT TO CONVERT MORE LEADS RIGHT? Well what are you doing to actively “attack” and proactively gain interest.  We talk about funnels and lead gen all the time.  The common question is, Shawn, what’s the conversion rate?  Well, Bob, it depends on the sales person and how hungry they are.  lol – My typical response.

Here’s the call to action to help you CONVERT more leads.  If you have a CRM great, see if you can “program” in it a reminder to set actions like, on the second touch Text them, IM them and send them a message on LinkedIn.  On the third touch (day 3) maybe send them yet another email, call, and then Facebook them.  Reply to a comment they have done, or follow them and or post on their wall, or comment on their post.  Friend them, see if they are on twitter, instagram etc.  You should have a cadence frequency set up for at least TWO WEEKS, before you just let your “email drip” campaign take over completely.  In my opinion, this is where most sales people fail, not only are they “giving up” after the 1st or 2nd no (or no contact) they aren’t thinking outside the box to actually reach the client.   Not every client is on Facebook, some may spend more time on LinkedIn and that’s the best place to reach them.  The job of the sales person is to figure this out.  A PROFESSIONAL SALESPERSON is like a PRO STALKER, literally.  Sad to say to most sales organizations do NOT have any frequency in place to help guide their salespeople to success.

So you needs to create a frequency for?  I got your back, hit me up, let’s start you off with something organic that teaches you how to PUSH and PULL your messages on Social Media to increase your reach, relevancy and results in free leads! It’s called my Blueprint.  And is the ultimate fan page guide to help you gain leads.  It’s a stepping stone for those that want to get into paid ads.

The Blueprint – Ultimate Facebook Fan page Marketing campaign guide
#SellWell and #TGIF!
PS – I’m going wide next week.
Mortgage Originators

Thursdays Thoughts – Testimonials and Culture

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#ThursdaysThoughts – Are you working with a company that has an awesome culture?  Are the walls painted orange, yellow or blue?  Do you have motivational quotes or some mission statement that is often heard in the meetings.  How about any type of community events?  Do you do those?

You see now days people don’t want to work with just a “company” they want to work with “PEOPLE” that they know like and trust, more than ever.  And expressing your people centric focus internally with culture is a great idea to share.  People want to hear these stories.  Same with testimonials.  When was the last time you gained a testimonial on any social page and shared it on your personal profile.  Or perhaps make light of it in any way shape or form?

Again it’s the “fact” that facts tell, stories sell.  And I encourage you to embrace your company culture if you have one, and tell others about it.  Get testimonials and share stories of how you impacted someone’s life.  This is a difference maker and will be what creates more reach for you than saying you have the programs or lowest rate.

I embrace all of this and would love to show you how as well.  I teach social selling in a whole new way to those LO’s that want to level up their game.  Hit me up personally today, you’ll be glad you did come purchase season.

#SellWell

Mortgage Originators

Whacked Out Wednesday – Credit, Pricing and the “Mortgage Balancing Act”!

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#WhackedOutWednesday – Oh YEAH… The struggle is real folks.  Funny thing is some LO’s don’t take the time to do this stuff.  They sell a file, throw it to a processing queue, and never attempt to “see” how the numbers shake out until the end.  First thing firsts, credit! I had a post in my group, Sales talk with Mortgage Pro’s not to long ago where someone didn’t know how the pricing was calculated with a credit that had two duplicate scores.  Pricing is apart of the balancing act too, not just credit that gets you there.  Obviously both play hand in hand.

What I suggest, is not to just set it and forget it.  If you make changes, like any and all, you should see how the file balances and not just the fraction, the dollar amount.  Actually balance your file along the way.  Want to be really high level, I suggest that every step you get exact fees, like the title report, or as 1004D costs are added etc, you re-balance your file.  And actually update the client.  In essence the client should get a break down every week on how their file is coming together.  Just my opinion.

THE JUICE IS LOOSE – I am having fun this year and helping those that want help building a pipeline more than ever before.  I have this organic campaigning program that is taking off, and so much fun to do.  My #Blueprint is the key to opening a door for exposure, more influence, growth of your referral partners and overall social selling strategy for 2018.  Want in an Elite group of LO’s that are using social media to grow their business?  They share posts, ideas and ways to generate business.  Check it out here —->The BLUEPRINT

As Always

#SellWell

Mortgage guidelines, Mortgage Originators

Two for Tuesday – Installment and Revolving accounts!

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#TwoforTuesday – So many people fall into this trap and attempt to qualify a client with 10 payments or less and omit that debt.  Make sure you do make sure that the payment is 5% or less of the overall income of the borrower.  If it is, and has 10 months or less that’s when you can omit that debt.  Revolving accounts that are paid off monthly are also a good one, yes, you can omit those.  As long as you can prove that every single month for the last 12 months the client paid off, completely.

Still looking for a launch into the new year?  I have some really good stuff going on behind the scene’s and am helping broker’s and LO’s get mega leads online for FREE!

Yep FREE, while paying for ads is great, and where the “numbers” are, there is an art to this online stuff.  If you have a poor organic campaign, and you attempt to run ads, well you better know stuff about optimization because your ad just might have limited results.  You see this is taught in the marketing books, you should have an “push” and a “pull” campaign working hand in hand.  When you do that results are inevitable.  My suggestion – Get the #BLUEPRINT into action.

It’s an organic marketing campaign management that you can do weekly, daily or monthly that increases your reach, relevancy and results.  And is FREE ladies and gents.  If you implement it on an on-going basis there is no reason social media won’t generate you leads weekly – FREE!  Here it is already, stop procrastinating, it’s not expensive at all, and positions you to win in many ways.  (not 1000’s of dollars like a paid campaign) – In fact in my opinion, it’s a stepping stone to get to paid ads.  If you want stellar results that is.  –

The Blueprint – Ultimate Facebook Fan page Marketing campaign guide ↓
#SellWell
Mortgage Originators

Motivational Monday – Reviewing Credit and collection accounts!

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#MotivationalMonday – The biggest advantage any one LO can have over another to “win” the business is truly educating the borrower and not just selling them a loan with the lowest rate.  It’s being a consultant, a financial advocate to the client to educate them about their own credit and understanding how guideline work.

Today’s video I go over some common “collection” questions and a way to look at a report to know in advance if the borrower will qualify.  Without having to run DU.  I suggest yes, you run DU to actually “read” what DU says.  But there are some guidelines written in stone.  You should know what to look for up front.

Some people are good at doing this and calculating DTI correctly to begin with.  99% of bad applications has to do with, missing information and or guidelines not understood or taken into consideration.  This is absolutely one of them in regards to manual underwrites.

If you’re seeking leads to pull credit, I can show you how to generate leads organically, totally free! In fact, a buddy of mine is doing a special all this week, and if your serious to step up your marketing game, here’s the in! – This is for a plug and play listing magnet that will generate buyer and seller leads galore.  You can use them to pre-qualify a client and then hand them off to a referral partner you have.  What better way to get on a good side with the best RE Agent in town than give them leads.  Click below and get ready to blow up! ↓

GET THE LISTING MAGNET HERE!

#HappyMonday

#SellWell

Mortgage Originators

Weekend Call To Action – Get Involved NOW!

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#WeekendCalltoAction – Get involved! – Now’s the time to do just that, join a networking group and start making appearances NOW!  You can’t just go once and expect others to give you leads, you have to be consistent.  Part of networking and growing your Pillar Partner network to gain referrals is getting involved.  I highly encourage that you do just that!

Once you’ve done this and gained some traction it is easy to name drop or suggest to others what you do as well.  Gaining exposure in these groups is a great thing to do! The Grind Includes Friday – Weekend Call to Action – Look them up! #SellWell

Mortgage guidelines, Mortgage Originators

Two for Tuesday – Bitcoin and New Guidelines!

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Happy New Year Everyone! Back at it, and today we jump right in to two new guidelines that you need to know about.  If you and your teams need an AE (Wholesale Account Executive) that can help you close more loans by not only a product mix, but by suggestions and marketing help to source business, let’s connect!  NOW’s the time to adjust your lender arsenal to help you teams do more in 2018!!

My team is growing, and we are helping more and more Banks and Credit Unions alleviate their risk on neighborhood watch by getting signed up as a non-delegated sponsor for FHA loans.  By doing so, this can open the doors to allow FHA/VA loans as low as 500 FICO if the bank wanted.  Most banks have an OVERLAY to help maintain a healthy rank on FHA for example, this allows them to offer it as a solution to their sales team, without harming the health of the company! Reach out to me for more details if your a bank that only goes down to 620 FICO or something like that.  We can open the doors for your business in many ways.  #LetsChat

Ok back to #TwoforTuesday, yeah I found out if BITCOIN can be used in a mortgage transaction.  And once sourced and turned into cash, sure it can.  See the short video of the day below! #SellWell – Oh yeah no more once a cash out, always a cash out too!

Have a productive week, in the mix of getting started in 2018, let’s network together! Add to your network a lender that can help you get more loans done!  CLICK BELOW↓

Mortgage Originators

Thursdays Thoughts – JUICY Style

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#ThursdayThoughts – Join Us In Creating Yes’s in the mortgage industry.  Get JUICY with us!  All this past year I promoted several companies and gave their marketing dept exclusive rights to advertise in my group on Facebook.  Sales Talk with Mortgage Pro’s! This next year, I want to add a few companies to complete the list.

What I need is a CRM sponsor! If you work for, or support a particular CRM, share your thoughts today with me.  I would ♥ to hear it! I have a goal to network with all the necessary tools a LO would need and offer them as solutions to 4000 mortgage pros’ in the group!

I have to take time and recognize the awesome partners I’ve connected with this past year.  If you need a website built, the best Lender Home Page you can get is with a partner I know Rocky Forountan.  Professional landing pages for your need of a website, weather big mortgage company or small brokerage shop.  If you need a virtual 1003 application software to help you take more 1003’s, I have just the thing for you.  Perfect LO is a great mortgage application that can help you prescreen and ask the right questions upfront for a complete application.  Feel free to reach out to Derek Malilia a great friend of mine now.  It’s amazing the relationships I’ve built this year.  To highlight one or two is just not enough, I feel like I have so many awesome partners already!

Thanks to my virtual business card sponsor on the JUICY list as well, Miss Dana Croft! If you are looking for a way to network with others and leave a mark, get a hold of the Card Tapp App.  This is a virtual business card you can track when prospects are “looking” at rates and strike while the iron is hot! Great sales tool! And last but certainly not least is my credit repair connection!  First let me say this, there are soooooo many credit repair “peeps” out there it’s not even funny.  I was looking for one that can handle volume, had a support staff and is really good at producing results! – Well I found the best in the country I think.  If you’re in mortgages and need to network with a professional credit repair company that delivers service above and beyond the call of duty, hit up 700 Credit Repair.  Billy Alt and his team are fantastic.

Yeah, I am looking for a CRM company to promote and give exclusive advertising rights in my group too, what other companies should I have in here?  Got ideas, let me know! Let’s network!  Happy Thursday! #ThursdaysThoughts

Mortgage guidelines, Mortgage Originators

Whacked Out Wednesday – Complete Completely

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#WhackedOutWednesday – Complete completely a 1003, a lender app, or anything that is a form to turn in.  Seriously, this is elementary things, but yet grow ups don’t know how to fill in a form!  Like seriously, if a form has a field to be filled in, put something in it! Even if it’s N/A – Something is better than skipping it.  And you may just find that you have an important question you needed to ask or answer.

More importantly, with a complete 1003, DU will not give you errors.  Well, I should say “as much”!  Some of the common errors in 1003’s today for #WhackedOutWednesday will hopefully help you learn to look at these sections to begin with.  Let’s list them;

  1. Type of loan, I know this seems basic but it’s true, sometimes people get in the habit of checking FHA, when it’s actually a conventional loan.  Make sure the boxes at the top of the 1003 in the beginning are correct.
  2. Name, Phone number and Email address;  Again you would think this is elementary but the most common is a 1003 with no email address.  Let’s recap this whole TRID thing, you can’t do a home loan without an email basically, or you wait longer to close.  So if a client doesn’t have an email and they are that old fashioned, open them a free gmail account.  It’s basically required and you will thank yourself later in the loan process (ie CD time)!
  3. Work and Address history – Remember on a 1003 the underwriter is looking for the last “two year” work history.  No matter what the program or how long you want to prove income income etc.  There needs to be a work history and an address history (rent or owned) for a two year period on the 1003.  Simple.
  4. DOWN PAYMENT TYPE – On purchases I highlight this, as a function of DU it reads risk based on weather the down payment is marked from Checking savings or as a GIFT!  If you have a gift and you don’t select that upfront, you could begin a loan and then later on find out your loan isn’t approved.  (*reiterating to fill in the 1003 correctly)
  5. REO section – It’s funny but many professional processors even hate this section and skip it.  If there is a mortgage on the credit report, that means you must tie that loan to an REO in the Real Estate Owned section.  Simple to do, but commonly missed.  OH, and if you have free and clear homes, make sure you assign the “taxes and insurance” on that property to the home so that DTI shows right.  So basically if they have a home fill out the REO section.  Wow what a concept.
  6. Declaration Questions – Including all HMDA /ECOA info.  So that last page, that asks if they are Indian or Asian yeah that one.  Mark it up, it’s needed for your bosses call reports anyhow.  (form they fill in and send in to tell the government whom they have been taking apps with) – Bottom line, make sure you attempt to have all boxes marked on this page.  It is imperative that the 1003 is accurate here as some of these boxes can trigger different approval levels.  And more conditions for sure.

No matter what, if you’re in Wholesale or Retail, the 1003 is like your bible to a loan.  It’s the holy grail that makes or breaks someone’s financing if not completely and accurately taken to begin with.  DIG DEEP – My advice, is anytime you see something not “normal” ask questions – LOTS OF THEM! Do NOT be affraid to ask your client WHY?  Why did you have a job gap? Why did you sell that home, where did the money go?  Can you source any and all large deposits in the last 60 days etc?  Below I souce the 6 top 1003 mistakes for #WhackedOutWednesday – It’s longer than normal however, take notes and implement is my suggestion! #SellWell

It is WHACKED OUT that sometimes mortgage pro’s half ask it on the NUMBER 1 thing that is part of their job.  Filling in the 1003.  Funny in a way, but trust me, the more accurate, the more questions you get asked, and the more detective work you attempt to do in this stage – The MORE LOANS YOU WILL CLOSE!  Meaning fund and get paid on.  So my advice SLOW DOWN, and master your craft.  It’s the one thing that can and will dictate your paycheck! #SellWell