Tag Archives: Thursdays Thoughts

Mortgage Originators

Thursdays Thoughts – Back to Basics!

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#ThursdaysThoughts – Back to basics for LO’s and a great reminder of how to actually “get loans done”! Seems to me every month that I see LO’s struggle with getting loans done or have issues with conditions it’s correlated to these three things I mention today.  If you go #BacktoBasics and focus on these three things, what comes out on the other end will be docs.  (on more loans) 🙂

Accurate and complete 1003 is the start.  As you fill it in and gain supporting documents remember to go back and plug in the “real” numbers into the 1003.  Like start dates of employment from a VOE into the 1003 for example.  Details of transaction is the heart of the actual money exchange and is often the last piece of info that’s 100% complete.  Why? – Well after you lock a loan you need to go back and plug in the credit or cost associated and it will change your file’s structure.  It’s amazing that sometimes people don’t have sellers contributions or other credits plugged in from the start, but as you get towards the end of your loan #BestPractice LO’s should be balancing the loans structure.  And throughout the loan the biggest mistakes on loans can be avoided by not submitting unnecessary information to the underwriters.  And what I mean by that is to actually READ your DU/LP (AUS) findings!

If more LO’s go back to basics they will be more successful.   It’s the truth, and real Thursdays thoughts you can take to the bank.  Complete a 1003 accurately and 100%, run DU and submit only what DU asks for upfront and throughout the loan, and verify your structure on the loan in the beginning, at lock, and prior to CD going out!  If you do this, you’ll have less issues, less stress, less fall out, and less last minute changes.  Mark my word!

As always I want to offer coaching and help to anyone that wants it.  Doing loans doesn’t have to be rocket science, or complicated if you stick with basics to make healthy loans.  Hard loans, easy loans and all the loans in between I help LO’s complete with an awesome ops staff.  Why not make an impact together in 2019 – CLICK HERE!

As always –

#SellWell

Mortgage Originators

Thurdays Thoughts -Structure and Study!

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#ThursdaysThoughts – Any one in Sales this applies too! I spend the week rounding off an AE training with team members, and did my weekly follow up with all on the team.  In the process, I noticed more than one correlation to these tips today, and mentioned it as reminders to both AE’s and LO’s I know.  Your slow?  Your not growing?  Your not getting the results you hoped for?  Read this ↓

More than likely someone in your coaching at one point or another in sales reiterated to have a daily structure for yourself daily.  In many LO training from companies they go over programs, guidelines, features and benefits to help you with product knowledge.  In your daily structure are you time blocking a time to expand your product knowledge and know your own processes, benefits and ways to add value?  Are you plotting out a time during your day to do certain “income generating” activities?

Having structure to your day and spending time to expand your own knowledge is key to success in sales.  There’s no doubt about it.  Maybe this good timing, basic, but necessary for any and all in sales.  Are you busy or are you productive?  Or are you just letting emails dictate your day??

Funny thing is having structure to my day is what I’ve done since being at Ameriquest.  I had power hours where I dedicated time to call out.  Where during my day I always had times to educate myself, do research on guidelines or “accounts” and then plan out my attack.  Bottom line is if you’re in the Mortgage business to win, you have to study and dedicate time to learn guidelines.  As you do it’s increasing your worth to your clients.  AE or LO.  When was the last time you studied a matrix? Read the newest DU release notes?  Or just opened the big 4000.1 and poked around?

I did this whole JUICEMAN videos for me.  It just became entertaining.  Being hearing impaired and darn near deaf, I do not “learn” auditorily.  I learn kinsethetically and visually.  So with that knowledge it helps me learn guidelines by doing the video’s and reciting these guides to help add value to my network.  Think about how you learn best and ways to incorporate a learning strategy to help yourself be better for 2019!

As I always say—

#SellWell

 

Mortgage Originators

Thursdays Thoughts – Back on Track!

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#ThursdaysThoughts – Back on track to my own goals of hitting 200+ videos this year with an opener!  Today’s video is 185 so I’m back on track!  The #JUICE is back Jack!!

First, thanks to all that followed up, thanks to all that visited the blog, had many days in the last month where I was completely surprised on the number of visitors! I ♥ to see people using the blog as a search engine for guidelines to watch my silly video’s!

Thursdays thoughts is all about goals, I’m on pace to hit several of mine for 2018! Are you in the same place?  Have you began to think about your plan of attack for 2019?  It’s coming quick, and now’s the time to relook at the goals you set for this year and evaluate where you want to go next year! I’m offering FREE strategy sessions to anyone that wants help in creating a game plan for 2019!

For me I love doing these video’s to add value to any Loan Originator there is out there that wants some JUICE!  Join Us In Creating Excitement at the NAMB NATIONAL event this coming weekend.  BluePoint Mortgage and I will be there at booth 615, come down and say hi!  Better yet, #GetOnPoint with #BluePointMtg today!  CLICK HERE! And let’s set you up to utilize our #Niches to help source new loans and close more loans in 2019 together!

Mortgage Originators

Thursdays Thoughts – We’re Back!

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#ThursdaysThoughts – We’re back!  That’s right #MortgageBrokers are BACK!!  Today marks November 1st, a day in history when there WILL be ton’s of LO’s and Broker’s filing for their MU4/MU2! Yep, filing to open their own mortgage brokerage shop or filing to be state licensed instead of federally licensed.  A WAVE is about to hit and we’ve been seeing all year! More and more people are going back to brokering!

Why today?  Well if you filed prior to November 1st, you had to still “re-new” this year yet again.  So many around August decided to wait till today to make it worth while and not have to pay NMLS two times in one year.  If you pay the NMLS for your filing today or after you are set for the year and the next time you have to re-new is next year.  In the mortgage world, there is CE (continued education) of 8 hours and a fee that’s paid to the National Mortgage Licensing System (NMLS) once a year to hold a license to do mortgage loans.

So what’s the big deal?  Well as I said in the video, more and more people are filing to start their own small business (mortgage brokerage) or coming over to the mortgage broker side from the retail banks.  As rates are rising banks are bleeding to gain market share, and overall in growth numbers, the only real outlet that has lead growth this year is mortgage brokers.  Retail is down in numbers, and more than likely will stay down.  Rates are higher on retail due to overhead from big buildings, fat CEO pay grades, and the need for layered departments within a big corporation.  Their profit margin is thinner this year with rates rising, and many have even started to change compensation structures to their loan officers.  That and various other indicators are a deal killer with good sales people, and more and more are seeing the light with wholesale yet again.  There’s more control, more options and more success being seen as the small independent mortgage broker again.  Want to know more about starting a brokerage or the steps for licensing? Click here – And pick your state.

And this time, it’s better than 2008, the wholesale relationships are stronger to support these small businesses of America, brokering loans is sought after even in real estate now.  And I happen to be one of the various options independent mortgage brokers can partner with to help more clients.  #GetOnPoint with #BluePointMtg and partner with a true wholesale partner to help you close more loans! CLICK HERE! 

As Always –

#SellWell

Mortgage Originators

Thursdays Thoughts -JUICY List tools!

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#ThursdaysThoughts – #JUICYList Tools this week have been great.  If you do not know where to turn for a great website and fast title work for your deals and business – Here you go!  Today’s JUICYList tools are just that, a website that’s designed to be easy to implement and a title company that can help you get loans done!

There’s a definite need for some mortgage companies to update their 1982 website, or if you’re new, and need one – THIS IS IT – THE LENDER HOMEPAGE! It’s a website company that can have chat features, to a blog, to mortgage calculators all on your website.  And it doesn’t take a month to launch, try days!

When it comes to closing loans, there’s one piece of paper that’s always needed, and that’s Title! Might as well get connected with a company that can give you the turn around times, and service you deserve with title orders!  C.L.A. Title and Escrow is a great Nationwide Title Company that’s here to help!!

From my perspective, there’s a lot of people asking questions on “how to source” more business right now.  Even more wholesale companies attempting to show mortgage broker’s how to gain more business.  (But they barely do any ads themselves) – Might as well work with the PRO’s that do it everyday, and produce REAL RESULTS for you to gain more buyers, sellers, and mortgage clients as a whole.  The Robots are out in full force right now, and advertisements are everywhere.  There’s google, there’s FB, there’s LinkedIn, and then there’s the old fashion guerrilla marketing techniques.  My opinion, get a well rounded campaign strategy going.  If you have multiple avenues of lead generation working for you, you will not “slow down”.  In fact some of the top originators in the country are having their best months – WHY?  Because they are doing just this, they have organic presence and paid ads or paid leads they get.  My opinion again, – Get your own #JUICYROBOTS that are out there gaining you prospects daily.  CLICK HERE FOR A DONE FOR YOU SOLUTION!

As Always –

#SellWell

PS. Someone asked me where this #JUICYList was located, it’s inside the group –

SALES TALK WITH MORTGAGE PROS on Facebook.  Once a member (free) check out the “files” tab – I’ve uploaded all types of stuff to help you LO’s over the years.  Objection responses, scripts for purchases, scripts for refi’s, income worksheets, condo cheat sheets etc.  Including the JUICYList!  Check it out today!

 

Mortgage Originators

Thursdays Thoughts – The Offer!

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#ThursdaysThoughts – The Offer! – While I do short links and promote my Wholesale Lender under the video’s the main content I have is not always “selling me” and what I do.  I try purposely to put out there a ton of value for all in the #MortgageIndustry first and foremost.  I post guidelines, motivation, selling tips, tricks and lead gen suggestions all the time.  Today, I promote the offer!

@BluePointMtg we are a true mortgage broker partner.  We are BRAWL friendly and provide a ton of options for the independent Mortgage Broker to grow their product mix.  We are value centered around communication, easy of use, and speed and service.  But not just on the average everyday John Smith client for a mortgage.  We specialize in #Niches for mortgage Brokers.  From offering options like Bank Statement loans, W2 only, Alternative documentation, investor loans, options for as low as 500 FICO or where others have overlays.  (550 FICO on FHA/VA) – We look to truly partner with our Mortgage Broker partners across the US.  From Niche offerings like Reverse loans or 5 million dollar JUMBO, to non-warrant-able condos.   Options for Lender Paid or Consumer Paid transactions, to flexible adjustments on a Lender Paid Compensation agreement, to the ability to use over 25 AMC’s.  Our mission is to help our Mortgage Broker partners close more loans.  If you’re a Mortgage Broker and want to add Niche products to your lending arsenal let’s chat, CLICK HERE! 

We are a direct lender ourselves, and offer the control, and communication that our partners are looking for.  We underwrite 99% of our products in house, and do not have to send out to other investors for second sign off.  If We issue an approval it’s the #RealDeal.  We also offer #TBD underwrite opportunity to our active partners that need us.  And the benefits of working with BluePoint Mortgage don’t stop there.  We even have tools to help our Broker’s continue to source new business with our product offerings.

We would ♥ to partner with you!  As we are growing in times where others are shrinking, I am blessed to offer as much help to those We partner with.  Get on Point with BLUEPOINT today! CLICK HERE!

**In Closing today – We are growing, and we are seeking talent and those that see opportunity with a growing wholesale lender to partner and grow a pipeline themselves.  If you know a great seasoned AE (Account Executive) – I just started taking resumes and would like to know from you who you recommend!

As Always – #SellWell

Mortgage Originators

Thursdays Thoughts – Get Creative!

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#ThursdaysThoughts – #LUNCHNLEARN – Get Creative – In today’s market place if you are just showing the same options as everyone else and you’re not “niching” a specialty or making yourself be indifferent, things might get hard.  What I suggest to do is get creative when presenting options.  #BenefitSandwich Again…

One way to do this with a typical 1st time home buyer is to show them options with MI certs.  With a first time home buyer the MI option to have split, or lender paid, or single premium all could allow the borrower to qualify for more of a house.  Structuring the loan upfront to make sure it can close and allow the borrower to do is key.  This could mean going borrower paid, or increasing the rate, or gaining seller contributions etc.  But the bottom line is what a recent broker did was genius and a great idea that I wanted to share with you.  By being indifferent I bet they gained business.

BluePoint Mortgage is a niche lender, we don’t have just “one niche” we have many, and you can use these niche’s to stand out as a product expert in your market place.  Making yourself indifferent than someone else.  Adding value and coming across as the expert at the same time.  This idea from a Broker is genius and I know they will continue to get more loans as a result of their thinking this way to differentiate themselves from the competition.

YOU TOO CAN GET ON POINT – WITH BLUEPOINT! CLICK HERE! 

As always – #SellWell

Mortgage Originators

Thursdays Thoughts – The best of Completing the bill of sale!

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#ThursdaysThoughts – The best of “Whacked Out Wednesday” all week long, hope you’ve enjoyed and are picking up things to avoid or to do to close more loans.  Today is no exception and goes with the Thoughts that each loan officer creates their own head aches by not completing the bill of sale! Every sales person out there has to fill in some paper work that becomes the frame work to the sale.  Car guys, vacuum sales, insurance sales you name it.  Mortgages bill of sale is really the 1003!

The 1003 is the heart of the mortgage transaction and underwriters are really just looking to verify the information on the 1003.  Make sure you are completing the 1003 and it’s accurate.  And you check the information that the client sends you and compare it to your 1003.  These are small things that you can do to help your own “Bill of sale” be done correctly in mortgages.

Get on point with BLUEPOINT and we will help you take your bill of sale to the closing table!  Today I’m issuing LOG-ON’s to anyone that may need it.  CLICK HERE

Thursdays Thoughts – Don’t be whacked out and half ask the bill of sale!

As always – #SellWell

Mortgage guidelines, Mortgage Originators

Thursdays Thoughts – More than 1 and flipping! FHA Guideline week!

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#ThursdaysThoughts – LUNCH N LEARN – Today I go over my max length a little bit.  Yep it’s a long one.  12 minutes of pure FHA guidelines you should know.  Sorry.  But, for those that watch, will get some great tips 🙂

Can you have more than 1 FHA loan?  And what’s the time frame for flipping again? (90 days right?) Well, I go over the rules, the exceptions and things to watch out for in today’s episode of Thursdays Thoughts.  When I set out this week initial campaign it was to be centered around guidelines.  I found so many JUICY one’s to share in doing my planning that here at the end of the week, I wanted to throw in a few extra one’s.  12 minutes of getting on point!

#GetOnPoint with #BluePoint already!!  We have some fantastic guidelines for non-qm that make BP unique.  We also have one open overlay on Government loan options we provide.  We only go down to 550 FICO on FHA and VA loans.  We go by the book otherwise.  #LetsDoBusiness – CLICK HERE – and we can provide solutions to help you close loans.

As always – #SellWell

 

Mortgage Originators

Thursdays Thoughts – Boost your 2018! Get JUICY!

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#ThursdaysThoughts – Boost your 2018 – Join Us In Creating Yes’s for your pipeline.  Lunch N Learn – All week we’ve been going over tools and companies that you can use to help you increase your business.  Today’s highlight to the JUICY List is Listing Booster!  A great tool to help LO’s and Broker’s increase exposure on their BIGGEST referral partner’s listings! RE Agents – If you use strategy to grow your referral partnerships, this is one huge tool for the belt! And a great way to expand your relationships by adding “boosting” value!

In growing a network of business partners I’ve always looked to add value to my partnerships in a similar way.  By helping LO’s with ideas to source new business.  I am expanding across the Nation and would love to partner with you (A mortgage Broker)!  #LetsDoBusiness – Get on point with BLUEPOINT MORTGAGE! With over 9 different Non-QM loans and a great niche on Government business.  We can help you close more loans – CLICK HERE! 

Listing Booster is a great resource to help LO’s build a pillar partner network of RE Agents and really add value to them.  An irreplaceable service that every LO should have.  CLICK HERE – And schedule a time to get a walk through.

booster

#SellWell