#FridaysFacts with a #WeekendCall2Action!! – Great guideline tip reminder for all in the industry, LO’s and RE Agents, regarding someone whom is #SelfEmployed! And a #JUICY Call 2 Action for you this weekend! It’s all about taking your pipeline to the #NextLevel! ↓
When it comes to planning some way to make a difference in your own business pipeline, it starts with educating yourself and creating a strategy to implement! The #WeekendCalltoAction is up to you to click here –> NEXT LEVEL LIVE IN DALLAS! And if you didn’t know, there’s already 100+ LO’s signed up, this event is BIG! Like HUGE, and if you want to impact your market place, there’s a discount for the event tickets for the next two days for those that #TakeAction.
#ThursdaysThoughts – Rates and Amortization! There’s two ways someone can “save” money on mortgages. One is through extending the term, and lowering the interest rate. Another way is by shortening the term, and/or lowering the interest rate. Yes rates, let’s talk about historical facts for a minute. We are close to the lowest rates have ever been, period. If your clients are seeking to “save” money, debt consolidation and elimination of mortgage term is a great way to go. What I mean, is show your clients even if in the recent past they did a loan with you, that you could potentially help them access equity and or shorten their term, all due to where rates are today.
Did you know what is called “Re-Casting” can be done 1 time a year by all major servicers? If your clients want to put a large amount down (10k or greater) on the principle of their loan, the new payments can be based on the time left and the new balance. That’s called “Re-Casting”. And is something all servicers will do as a courtesy 1 time a year. Many LO’s do not teach this or even know about it. But it’s a great way for someone whom is proactive to pay off their home fast. ↓ #SalesJUICE
While somewhat elementary to those in the mortgage industry a long time, the problem lies that most LO’s do not house a database that actively monitors their rate and identifies opportunity to help others due to interest rate deductions. Today I want to highlight #ThursdaysTool for you LO’s – STIKKUM – a way for you to monitor your past clients “rates” and to identify when they are in the market. Not only do you get notifications when someone is shopping for a mortgage due to their mtg credit pull, but you can actively monitor for times like now when it’s best for you to reach out to your past clients to save them money monthly. There’s touch points to service your clients like birthdays, and holidays that they can get customized letters and email follow up that remind them of you. CLICK HERE to find out more about ways to make the most out of your past client pipeline, and be a #Lender4Life for your clientele.
#Two4Tuesday – Guideline Day – FNMA Updates galore! Fannie Mae has been busy this month, with several key updates. Some that may just affect your loans in process! So excited for the new 1003 to come out, just as the past the disclosure “roll out” as optional has been post-poned! The actual roll out date will be too, but we just have to wait for the next update that let’s us know when we can roll out the optional use of the new application.
Some good updates this month, and I hear and see other LO’s mentioning that DU seems a little tighter already. This is the second time in the last 90 days that DU has been updated. And this time Fannie is really vague on what was updated, other than specifically identifying “other risk factors”. This comes down to DTI, reserves and LTV, mark my word, some LO is gathering conditions from a loan and in the last 5 days their file has not been re-ran through DU. And when it does on the final time, there will need to be a restructure to make it work. Risk thresholds are being updated and over time after running so many DU run’s we’ll be able to report back to you and let you know what changed. Just remember the basics on DTI for FHA/VA and Conv.
Basics;
FHA – Three buckets depending on how many compensating factors your file has 31/43 & 37/47 & 40/50
VA – One major backend threshold that is mentioned and that is 41. There is also note of use of residual income as a compensating factor. (this has been the loosest one of them all over the years and more recently have had personally a VA loan with as high as 82 DTI close)
Conventional – While it is widely known that conventional goes to 50 DTI (49.999) in the books (ed) and in programming the thresholds of 28/36 are used. So if your file is over that, you should have compensating factors.
Risk is risk and when it comes down to it, there seems no two files are the same. Just watch your risk thresholds on active loans as DU is updated, and keep rocking.
#WhackedOutWednesday – LO’s structure is important. What you “sold” to the client you should try to make a reality. What I mean is at the end of the month this happens all the time. If you “sell” a certain cash out, or a certain cash to the table, as the CD is being made (1st time) you should take a close look to see if anything in the structure needs to change. But once the lenders instructions go out, you as an LO have always had the responsibility to “sign off” on it.
Once title or escrow company is making the final CD, make sure you see it first. Make sure you are approving it. If there needs to be changes then have them completed. The CD / The HUD it’s always been the same, that title or escrow company needs to send it back to the lender for “approval”. Worst case is the CD isn’t approved and new instructions are sent to change X Y or Z are sent back to title/escrow. Don’t wait around all day for a new set of lenders instructions just to make a quick structure change that should be warranted. Remember most lenders systems are transparent, and all LO’s/Broker’s should be checking the RATE, the LOAN AMOUNT and DETAILS of TRANSACTION within a lenders system PRIOR to the CTC anyway.
These are best practices, and ways a LO/Broker can take back control over their transaction. Don’t wait for minor changes to be made at the end, make them happen early in the transaction. Or right about the time you send in all conditions to be exact. No way you should be CTC and getting docs and find out the rate is wrong, or the cash to close isn’t right. GET ON POINT WITH BLUEPOINT today, we’re growing and helping LO’s get it right the first time. CLICK HERE and let’s do some business!
BANK STATEMENT LOANS
FHA/VA 550 FICO
CONVENTIONAL DU/LP
REVERSE
INVESTOR DSCR (NIVA Loans)
NON-AGENCY JUMBO (up to 5 Mill)
NOT YOUR TYPICAL WHOLESALE LENDER
NICHES are the name of the game @BLUEPOINT MORTGAGE! And we help Broker’s grow their pipeline with them. Let’s talk loans, Text Juiceman to 33655 and gain a copy of my business card. You can run scenarios, rates, and even get a hold of me directly. What loan can we help you with today?
#MondaysMotivation – Guidelines and Marketing are the two things you, as an LO, must master in order to be successful! While guidelines change all the time, so do marketing trends and what works. You need to be “up to date” on these to be a successful LO in Today’s environment! All this week, I go over commonly asked guidelines and a talk about how it coincides with marketing.
On FRIDAY Aug 31st, 2018 @ 10 am EST, I will put on a webinar that’s FREE for all! I am going to cover a part of #TheBluePrint that I’ve been teaching Broker’s/LO’s for years to expand their business. It’s all about whom to reach out too when through the year to help you expand your rolodex of referral partners. Someone probably told you to network with RE Agents, but whom else could you be gaining business from and when throughout the year should you be reaching out? These are all things I cover on Friday’s Webinar.
FRIDAY AUGUST 31st, 2018 @ 10 am EST is the time for the webinar! Want to know more about using seasons and trends to help you build your business? SIGN UP HERE!
#TwoforTuesday – I talked guidelines this am, so number 2 is about marketing! Yep you guessed it, you can’t close more loans without more prospects. Just like the last three months I’ve done a bulk order of funnel advertising systems, the sale starts this week! #BulkFunnelSale
Today I break more of it down so you understand your options! If you want a 3-5k product for half the price because I get a bunch of LO’s to gain lead machines at once this is the best deal out there! Hands down, and as far as the results go, I’ve only promised 125-150 lead area for most geographical areas and with a 500 ad spend the results have been astounding. Yes you have to pay for the ad to run on Facebook. That’s what FB does. It shows your ad to people we target in areas of your choice.
It’s all done with a professional management service for your advertisement. That’s the most important part, and what is the reason your ad will give you results month in and month out. Most are seeing 200+ leads with a slightly less than 20 dollars a day budget. That’s around 500-600 dollars depending on how long the month is. Most start at that point for ad spend. 20 dollars a day will get you a few thousand impressions and then some good 2-5 leads a day. Sometimes north of 7. But all in all, ad spend dictates lead count if relevancy is optimized. This is what the management service is for. And the longer you run the ad the more information you will have to retarget it, and make the most out of ad spend you have.
Here’s a result of one funnel from the first full month in on the campaign: 214 leads for 2.78 a piece. What would you do with that many more opportunities?
This management package is what starts the project. You pick one of two options, a 500 dollar retainer monthly to have a professional service optimize your ad to gain results, or a 750 option. The difference I explain in today’s 2nd video.
What you will get! Well this is a bulk funnel order of done for you solutions that can turn on a lead faucet to help you grow your list of prospects. Then it comes with a follow up sequence built in (Or customize-able based on which option you choose) that will help your conversion of this marketing campaign. NO DOUBT – A professional service will turn on lead flow. But what you want is to convert the people interested in a home! (the advertisement) So what we do is set you up for success, and I put my own personal training to work for you.
First you get the ad made for you, it takes a few days to build out as this is a custom built advertisement for you. And it’s run on a community page we will make for you. The reasoning for that is there is a relevancy score associated with community pages that is higher than that of a business page. Plus it hides the salesman a little. People are more opt to “subscribe” into an ad from a community page than a business page.
Then you will get set up with a CRM that the leads will go into. This is all part of the package, and technically what you pay later in the month for. Inside the CRM there is a sequence of SLY DIAL, TEXT MESSAGE and EMAIL DRIP campaign all programmed in so when leads opt in, they start the sequence. Depending on the “management package” you choose, that set of sequences may or may not be customize-able. I suggest the customizable package, as it includes chat bots on your page as well.
Half way through the month the second invoice is taken for first installment of the purchase of the funnel. 500 on the 15th, and then 500 on the 30th. Simple to understand, you’re getting a 3-5 dollar professional funnel built for your advertisement for 1k. You do have to select a management of that funnel and is what starts the project. (since that is a re-occurring item monthly) So if your math is right you’d be at 1500-1750 for the complete funnel deal and management month 1. Then ad spend would be a separate expense. Since it takes about a week to completely build a new ad project your expected ad budget would be less than 400 on month one. Even at 20 dollars a day. So depending on the management package you do pick (500 basic or 750 customize-able) you would be 1750-1850 area month one with 500 plan or 2000-2150 with customize-able plan. Month two you wouldn’t have to pay for the funnel again so you would have your ad spend and your management package. Assuming the basic package and 500 ad spend budget, you’d allocate 1k monthly to generate 125-150 leads. Again most campaigns are pacing to do a lot more than this, but I like to set expectations you can hit a mark on.
To help with conversion, what I do with those that join my bulk order is give them my organic training #TheBLUEPRINT free. And with this help them with social selling and the ability to convert the leads they get. You are invited to take the free three day workshop or just use the information. Also this month, I am including a month of #phonesites free with sign up. What we’ve done is lowered the barriers of entry and allow LO’s to see results before they pay for it all. 500 starts, on the 15th the first 500 for the funnel is taken, and then on the 30th the last 500 is taken. Once you’ve paid for the funnel, the community page, and the data and leads are all yours to keep.
There’s a big difference between buying leads and owning a lead generation machine. And when you own one, you either need to run it yourself, or let a professional do it. I offer a gateway to allow you to get in on generating leads, let someone else run it and you get the benefit of being able to do more of what you do best – Sell loans.
Here’s the full “funnel” for the advertisement bulk order. Go thru this, watch the next video and let me know when your ready to start! 🙂 – BULK FUNNEL ORDER HERE!
#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
#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.
#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
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↓
The JUICEman! 