TRID still affecting you? Blast from the past that speaks the truth about TRID.

A Broker in Cali, that I have in my network asks me today;

How does TRID really affect me and what do I really need to know?

My answer is 3 parts of importance for you to know on how it changes the way the Mortgage Broker does business now.

1. The way Broker’s can switch lenders in doing business now changes.  The thing to know is the GFE and the TIL are combined.  So the fact the GFE isn’t signed now and it’s easy for brokers to “switch” lenders will change.  You will now need to “create” a new GFE if you are switching lenders assuming comp plans are different or the fee’s are different.  Then the borrower would need to sign that new LE (Loan Estimate). **re-post notes.  This is why the “Broker is bouncing back”.  The new disclosures level the playing field and Bank and Broker disclosures in the initial LE all look the same.  More and more rules are coming that will make more “mini-correspondents” have more reserves and mandate licensing etc if they “lend”.  Even more compliance laws to roll out in the next two years is what I see.  Why being a “wholesale Broker” is the way to go.  More new business starting daily.

2. The Tolerance items on the GFE as it is now are changing.  This could be a big movement in the industry.  And we could see “more” upfront fees on LE than we do on the GFE now a days.  The shopper will have a handle on Brokers that go skinny in the fees.  You know how the transfer taxes and owners title are a “ZERO Tolerance” item…. well guess what that section of the “LE” or new GFE if you will, is changing to include more items.  Pretty much all the items in box 3 right now.  What that entails is the Credit Report fees, the Appraisal fees, Tax Service fees, Flood Cert fees.  So, better make a new BEST PRACTICE as a Loan Originator in my opinion.  At the beginning you should disclose the cost of an appraisal and 1004D upfront at least.  Better disclose the credit report fee and at least two credit sups upfront.  Hope to see Flood cert’s and Tax Service fees more common on the new LE as well.  These would be mandatory to disclose in my mortgage company if I owned one.  Because if your fee’s end up 1 dollar more we all know that the 1 dollar becomes a Broker cure on the difference and shorts your income. **re-post notes; This is why companies are hesitant to send out CD’s in advance of CTC.  Continue to read 3.

3. The act that I preach now to all my network about “creating a HUD1” out of calyx or encompass after verifying fee’s is going to be a big deal.  At the end of the process under TRID there is a new disclosure called the CD (Closing Disclosure) that goes out and you have to wait 3 days from acknowledgement to get docs.  SO, that means no last minute changes.  About the time the loan is CTC’d Broker’s should be verifying fees from Title/Escrow and then having processors verify all those fees and structure with a HUD1 you create out of Calyx/Encompass/Byte etc.  Again the point is changes will delay loans and burn locks.  So it is important for all loan originators to adopt a new process that verifies structure and fees on a loan prior to closing.  Like a week before.  As the last conditions are sent in.

There are a few other changes Broker’s should know about, read about the full changes don’t go uneducated on how these changes will affect you.  Happy Originations.

**Re-post notes; You still seeing the affect of TRID or are you closing loans fast again?  If not call me I can help.

– JUICEMAN

Tax Week Q&A!

The week of April 15th is tax week, and the dawn of tax refund special advertising.  It’s funny how this week I can almost bet that you see a furniture commercial advertising they will pay your sales tax, or perhaps a car dealership will match your down payment if you use your tax refund with them.  There are a ton of marketing spins to this during this the week of April 15th.  Rightfully so too, and great advertising.  Taxes owed and filing have a big impact on certain financing.  Such as a home.

What does this mean when buying a big ticket item like a house?  Well with Fannie and Freddie conventional loans having to owe taxes is not necessarily grounds for disqualifying you from buying a house.  If you owe taxes this year set up a payment plan, and once approved make a payment or two.  Now Fannie and Freddie do not say you need to make a payment, but FHA does.  FHA now says you have to have a payment agreement and pay 3 months of that agreement to be eligible.

What if I owe back taxes or have an IRS lien?  Yes you still need to have an agreement in place for FHA and three months payments made on it.  If you are attempting to do a conventional loan then you will be stuck having to pay off the back taxes if they are a true tax lien.  If they do not have a lien yet, but they owe back taxes that client should definitely be able to show an agreement and a payment history on that previous years taxes at this point.

What happens if I don’t close my loan on April 15th?  Well the clients’ should have transcripts from the IRS showing they filed taxes hopefully.  IF NOT, an extension is ok to have in the file now.  From April 15th to Oct 15th is the window in which any file can close using the previous two years taxes as verification if a tax extension was filed by an individual.  During that time you just have to have a copy of the filed extension in the file.

What if they just Filed taxes this weekend (week of April 15th) for example, how soon can we close?  Great question if the wage earner on the loan is in fact W2’d and income is not more than 25% commission, we can do a W2 Validation only loan.  The transcripts we get back as lenders is verification of the employer filing the W2 not the client.  So we wouldn’t have any down time.  If the client was paid all commissions or self employed and just files this week, well then your probably going to end up waiting a month or two… I only say that because the transcript results of someone verifying a clients filed taxes come based on the IRS turn time of getting them in that system.  And on the busiest week of the year for the IRS, the odds that it’s just going to take 3-4 weeks will be slimmer.  I’ve always experienced a surge in turn time being a lot longer for those that need transcripts in a loan but they just filed at the week of April 15th.  Try like 6-8 weeks out for them to show up.  Plan accordingly.

Sell Well – JUICEMAN

 

The artistic approach to follow up!

Follow up is a major role in sales.  In a call center many many years I was basically forced to develop the best habits I have today and didn’t even know it.  It’s all because the CRM I was using placed the next person for me to call right in front of my face.  All I did was hit next.  What I will detail in this article is the best follow up methodologies I’ve learned.

In effort to be timely on emails and responsive to fresh leads I would call them as soon as they hit my inbox or queue.  I would leave a message or often times get someone that answers the phone shocked that I’m calling them because they just hit the button 10 seconds ago to have someone call them.  Still to this day instead of responding to emails with another email, I pick up the phone.  It’s one of the best ways to respond with the “ante to play”.  I learned this as a young gun in the mortgage industry and still to this day respond that way every chance I get.  People on the receiving end love it.  As far as follow up after the first initial ask for contact, well being timely can make all the difference.  I would call a fresh lead the moment I got it.  If I left a message, I would call three hours later or make sure it was past “work hours”.  If during dinner time I didn’t get an answer I would again call before 8pm.  In some days I would call a fresh lead 3 or 4 times to attempt to get that “Lower my bills” lead on the phone.  It was strategic to get to the client first.  I knew if I got that chance to get them on the phone and deliver information about a mortgage to them, that I would WOW them in my attempt to custom tailor a mortgage and it would be a remembered conversation.

In fact for years I had others tell me that they got 19 calls and it’s between me and one other guy/gal for them to get the “best deal”.   You know what’s funny, I was picked more often than not, and I didn’t have the best price.  I just added more value.  Why, because my follow up smooth.  Having follow up reminders and a plan in place to follow up for everything will make a difference in your sales.  You want to strategically place calendar reminders to follow up with your clients in process, to past clients asking for referrals.  This is true for B2C and B2B sales.  The follow up timing with B2C is definitely more often for those on B2B in my opinion.  But the concepts work hand in hand.  B2B I transitioned too over a 7 years ago as an account executive to help mortgage Brokers close loans.  The Law of Averages in B2B from what I’ve found is that every 10-14 days a follow up call should be placed.  I wish now I had a CRM that put those clients in front of me.  If I could instill one best practice out there today, is create some sort of TIME BLOCK daily to follow up with past clients or clients in process, or clients pitched but not bought.  That’s the key to sales in efforts to add value and customize your sale to the end user.  The follow up “law of average” will be different for each industry or client type, it’s your job to determine what that may be.  No sales guru can tell you when that magic number is.

It’s funny how when planned right, I find that Brokers that aren’t using me and I do a strategic follow up with all the sudden call me a few days/weeks later with news that the other lender dropped the ball and they have a loan for me.  Same with car sales, and the shopper of mortgage rates, sometimes its not the fact you have the lowest rate or the cheapest car, it’s about your follow up being timely and the need to pull the trigger.  There is such a thing as calling too much, but it’s strategic, and you will have to find your own balance.  For every one person that says you call too much, there are three sales made due to follow up habits being timely.  That’s a great number to live by.

I wish you luck in your timely follow up – Create time blocks for this and it will make a difference in your sales numbers.

Sell Well – Juiceman

Sales skills you should master!

Sales is 100% a numbers game.  Some are just really good converters of turning prospects into clients.  Some are really good at getting prospects but not as good at turning them into sold clients.  Some are great at closing, but lose relationships that could lead to additional sales.  Sales is all about helping others, no matter what way you slice and dice it.  Today’s installment of JUICE is about how to increase those ratios and strategies that help others gain success.

Number 1, the biggest difference between good and mediocre sales people is the ability to walk the client through their pain.  That fact finding phase where you ask questions and LISTEN more than you talk.  Even I have had difficulty over the years at this.  But the best of the best walk their client through having a pain that they can solve with the need for their product or service.  HOW DO YOU DO THIS THE BEST? Tell stories.  Listen to others stories, they tell you want to tell them.  Facts tell, stories SELL.  Remember that.  99% of the conversations I have daily involve me telling someone else about another brokers success or what pains they came into when doing a loan and how they solved it with ME.  There is an art to painting pictures in the sales process, I often do this with guidelines.  And one thing my network loves about me is I don’t just say yes if I don’t know a guideline, I look it up or ask an underwriter to ensure that information is correct to put together a loan.

Number 2, keep prospecting.  Once you have the art of your sales pitch down now you need people to prospect in order to make sales.  The biggest mistake some make is letting the foot off the gas when the iron is hot.. They spend hours or days or weeks attempting to close a sale, then they don’t ask that client for a referral.  They hang up or walk out without asking for the most important part, MORE BUSINESS.  In some sales it’s called the rehash, in mortgage sales it’s the referral ask.  You can’t ever have enough people to call.  The best mortgage folks I work with have leads to call for days, or applications to call back from last week still.  FOCUS on the front end, and the money and the numbers will follow.  Think 70%, and even if your closing ratio is better than that lower what your subconscious mind thinks it is.  WHY WOULD I DO THAT?  Well because it keeps you hungry to grind for more.  The more prospecting you do, the more opportunities you will have to close more clients.  And then when you close someone take that sale all the way home, not just to the board room table.  What I mean is those you fought for their business are often times the best sources of referral business.  Don’t be shy to ask.  If you ask you will get.  You miss 100% of the opportunities you don’t take.  Are you a Mortgage broker reading this?  If so, who do you have doing your 580-700 FICO deals?  I Motive-ate these loans to the closing table all month long.  Let’s work together, reach out to me.  586-737-7456 is my office line.

Number 3, have fun and look to add value in helping others.  The CORE of the success that others have in sales is NOT the product or the service.  It’s the person that the client is working with and their inherent feeling of helping other people.  The more like-able you are, the more engaging you are in taking an application, the more needs wants dreams goals you find out about your client.  And in mortgages you can custom tailor that loan to help the client achieve that goal.  Then add value to the client by following the GOLDEN RULE of marketing.  WHAT’S THAT?  Well it’s easier to sell an existing client than it is to go out and find another one.  Create synergies with not only your business partners to work with you over and over again, but clients too.  Too many times I see that clients are closed and then a year or two years later that client is moving and that LO/Agents have no idea.  WHAT?  I ask myself, why don’t Broker’s position themselves to be the newest addition to any one clients financial team.  Their “Banker/Broker” for life.  To help the client buy a second home, start an investment portfolio or help their kids buy their first house.  Not many take this approach, seems elementary, but not many Broker advertisements actually state this.  Add value, stay in front of your past clients with newsletters and birthday cards and ask for referrals all the time.  What loan are you working on today that I can help you get done to help that client?  I am taking applications now for April closings.

The more you do these things the more sales you will see.  The more you will be building a portfolio of business partnerships, and be able to help others.

Sell Well – JUICEMAN

Add your Culture to your script.

The best way to custom tailor any script for sales is to incorporate your personality into it.  Nobody wants to hear a sales person sound scripted.  If you have a client on the fence and perhaps your stumped on how to address it.  Do this, stop pitching and be personable.  Tell them something about your company, tell them about your corporate CULTURE.  The “pillars”, are these foundations of “client centered focus and service” that most companies in the mortgage industry have plastered on orange and yellow walls somewhere.  **Note to self, paint walls.  Motive does have pillars much like other past workplaces of mine.  Most great sales coaches will tell you sell yourself.  Selling your company and their values is a part of that.

As you hit the hard work in on the phones, you must ignore the noise, and take the roast out of the oven with intent to do the right thing. Respond with the ante to play, and put your clients first. These PILLARS are your BEST SALE and sit right in front of you.  Share your pillars with others in your sales today in whatever you do.  Remember in my article Believe In Better I say the first step is to BELIEVE.  And part of having that belief in sales is leaning on the “Pillars” that founded your CULTURE.  You should be incorporating your culture of belief’s on customer service in your scripts and engaging in it during your sales presentations.

AT MOTIVE LENDING our pillars are AACC.  Accountability, Accessibility, Communication, and Consistency.  My management does the best job Motive-ating these through the company.  And live up to our pillars we stand for.  Love how Motive does this.  And today as we begin another month, start with the end in mind.  Then at a time when relationships and timelines are tested, it will be with great pleasure that you get to lean on the foundations of your culture.

customerservice

Sell well today, sell your CULTURE and Pillars of client service you stand for! – Juiceman

What steps do you do in taking an application?

What’s your process of taking an application?  Do you send a full application package to your clients or let the lender’s you work with do it?

Great questions I’ve been asking lately and have found out so much in the world of mortgage broker loan origination about what steps Broker’s take in doing applications.  I’ve been lucky to have been trained by some of the best in the industry and today I want to provide guidance on these steps, as there is a definite need.

1st things first, I call it the “bar application” and that is the application or flow sheet or initial questionnaire or mini app, if you will, that helps you gather the 6 pieces of information together that constitutes an application.  I don’t think I need to go over that, but in reality many Broker’s think or use that same application to get the info filed out as their application they send to the lender.  NO NO.  Do this, retype the application on a fresh 1003 when you have gotten that mini app info and the borrowers certification and authorization signed to pull credit.  That way all the liabilities are in there, and you can actually price a loan out.  That way there are details of a transaction that are approximate and all the fields are at least 75% filled in.  You and I know just about every app is not 100% complete.  Use a mini app to gather the info and gain permission with a Borrowers Cert and Auth signed to pull credit.

2nd Create your application package out of Caylx, Encompass, or Byte.   Use a lender’s application system such as UWM’s for example to mimic the disclosures you send to the client yourself.  With TRID now there is a ton of lenders that want to disclose for the Brokers, and they may have some mini submission that you send in order to have them disclose.  Well truth is as a Broker you should be doing your own application package.  Trust me the CFPB will not punish you for over disclosing.  It’s a great habit.  So at the time you have all the info to do the at least the 75% filled out application (contains all six pieces of info) the 1003 you send to your client should be accompanied with the following.  All HMDA, ECOA, homeowners counseling, LE, and other regulatory disclosures on your part.  That way you officially are giving the full application package yourself to the client to sign.  You should flag these forms and create an application package out of your LOS when you send the application to the client it contains these forms.  (again mimic some lenders disclosures of an application package whom ever you use)

I’ve found that some brokers separate the 1003 and the LE and are taking the time to gain the supporting information from the client at time of the 1003 being signed and then within 3 days later sending the client the LE to sign.  WOW!  I never did loans like that, nor do most banks.  The minute that 1003 is given to have them sign it is accompanied by the LE and all other disclosures.  I find that some people just don’t know what they don’t know on how to originate loans with certain steps in play.  They just “followed” the laws and applied them.  Well that’s great and all, but I can remember a time I used to sell SAME DAY SERVICE.  When I took an application in a conversation with a client on the phone, scrubbed their credit with them, pitched two or three options, DU’d the loan and sent them the full application package all ON ONE PHONE CALL.  Most of those truly interactive clients would have the most engaging conversations with me over like an hour.  I can still remember the echo of the BELL we used to ring in the call center every time we got a “book back”.  (all disclosures and supporting info to go to underwriting).  There is a ton of value you can give your clients by doing this in a one or two step process to take the application.

Then of course where most LO’s seem to pass the puck is COMPARING the information you place on the 1003 with the supporting information that they give you.  Yes you want it to match.  But the “initial” 1003 doesn’t have to be the signed one that is 100% accurate.  I would at least update the point file or lenders system and re-run DU one more time prior to submission.  That way you know even the 1003 that shows 75k in income when the supporting docs show 71k your still working with an approved loan.  There is no need to change the initial application to reflect 71k and then have the client resign.  Just submit the one with the 75k on it, but CHANGE THE AMOUNT you have in the point file or system of that lender, so the underwriter is on the same page with you when they get the loan.  I think we’ve all heard the old saying garbage in, garbage out.

So check your process today, mimic a full application package from your lender of choice in your own LOS and start disclosing everything yourself.  Somewhere down the road you will thank yourself for doing so.  Regardless of how that loan is actually submitted with any given lender.  There is lenders submission forms, lender specific forms etc, and what’s needed from one lender to another that may be different.  So when you put together your submission package to the lender of your choice there is a need to pick and choose some of the forms you have signed and disclosed to be submitted.  Some forms you won’t include.  That’s ok, there’s nothing wrong with that.  Again the CFPB will not punish third party broker’s who over disclose and have their own set of disclosures they do as well.  All you need to do is keep them in your vanilla folder for the time required by your state at least.  Simple.

Sell Well – JUICEMAN

Virtual Business Cards and tracking Referrals

The biggest part of prospecting is getting your name out there.  Most people hand out business cards but they get lost in the trash somewhere down the line.  I’ve done extensive research in the last 30 days on effective business cards and leave behinds for marketing.  And have some really cool results or findings if you will.

The problem with most hand out is the piece of paper doesn’t track when someone looks at it or even gives it to someone else.  And I’ve found this tool is out there.  And is in the form of a phone app that can be on someone’s phone.  Something that most look at 100’s of times a day.  So instead of passing out a card that gets thrown away why not bump iphones and exchange your contact info that shows up on their home screen.  Phone apps are the newest big thing in the form of business contacts and tracking referrals.  The virtual business card is the future of tracking whom looks at your card and can track your client’s sharing your information with their friends, without them even emailing you to tell you. There is even apps for Realtors now that track the open houses someone goes too and allows your clients to make notes on the homes they saw.

Having a business card is great, it makes you feel all powerful and complete.  LOL   However the most effective one’s are not just glossy with your logo on it.  I’ve seen gambling chip cards, business cards that look like money, pen’s with fancy logo’s, and even cards with QR codes that direct your company website to the phone that scan’s it.  However, the newest virtual Business Card is out.  It’s here, and it tracks everything.  It tracks whom shares your card with someone else, to every time a user opens your virtual card on your phone.  And its easy to obtain and can be personalized to contain mortgage calculators or a fill in request form for more info, or even links to your home page or the latest industry news.

And I have access to this now and can share it with you.  Fill in the form below for more information on a virtual business card that helps you gain more business and not lose out on missed opportunities to market someone. This can be used as a CRM for those that actively share their business cards daily but have nothing that tracks this information.  This is the biggest missed opportunity to close more business, especially for sales people.  Now you have something that can remind you to call someone, or let you know when someone clicks on your virtual business card.

The ART of pushing the Bruise

In every sales there is an angle to walk a client through their pain.   The key is bridging the gap, to help the client understand YOUR value.  In originating mortgages one of the key conversations I would have with each client was a review of their credit report.  In car sales the same thing, in selling vacuum cleaners door to door it was the spots that had stains that would never come out.  My point is every sale somewhere has an angle that can be pushed to bridge the gap of a need or want for your product or service.

In mortgage origination or even in referral business partnerships the ability to help a end user or client relationship see your value is in bridging that gap of the pain.  Most people have a some blemish on credit, or value you can create by educating them on an item on their credit.  The ART of pushing the bruise a little to help show your value is really part of selling itself.  It helps add to your SOLUTION that you can pitch.  Your solution to the problem or pain that you point out helps pull in the benefit from all the features you have.  It bridges the gap and helps walk them through the pain in a nice way that can differentiate you from the competition.  If you pull credit with a borrower and then just look at the FICO and move on your doing it all wrong.  In fact the review of a credit report with someone in almost any financial service should be an important part of the conversation.

Push the bruise as to why they have the spending habit’s they do, and provide a solution.  When I originated each person I talked too as I took an application got a “free” credit analysis/review and would leave the conversation knowing more about their credit and what to do and what not to do even if I could not do a loan.  Those are the people that referred me to others even though we didn’t do business.  If your not having at least a 10 minute call going through each line item and asking about the credit items on credit to help a client know more education on their financial report card, your missing a part of the sale.  Car sales, mortgage sales, heck anything that involves you pulling a credit report.

Some tips I’ve learned along the way about credit that I went over with everyone I talked too:

  1. Review the FICO and let them know all three scores. Below the FICO score is typically codes you can go over with them that highlight the reason’s they are being marked down.
  2. Think JUMBO guidelines.  Credit is an evaluation of how you manage debt, not that you pay off a bunch of cards every month.  So the best FICO’s typically have a history of having 2 installment loans, (1 mortgage/1 car), and at least 3 other trade lines that are revolving.
  3. Revolving debt and the way a FICO is established.  The key again is to show the bureau’s you know how to manage debt.  So when you have a line of credit of 1000 you should be always 50% or less revolving from month to month.  The minute you go above that ratio your score is marked down.  In fact where you want to be is 30% or less of the overall line limit from month to month and you can actually increase your score.  You can hurt your score paying it off every month, as that doesn’t show the bureau’s you are managing a balance.
  4. The pulling of credit in the financial arena doesn’t affect a FICO IF… that is IF that person whom pulls credit is registered as a financial spot for Car or Mortgages.  There is a shoppers law that is out there.  Not so sure the exact name of this, theory or law, but it exists.  And it has to do with protecting a client that wishes to “shop” for a car loan or mortgage loan.  If that vendor is registered as a financial institution and more than one pulled a credit report within a two week period (may have changed) then that pull is looked at as one pull affecting the FICO, not multiple ones.  This is where it differs from Banks to Broker’s I’ve found in that Broker’s can sometimes have a different vendor code that doesn’t recognize them as a financial institution and that affects their score being pulled every time.  Again consult your vendor for the credit pull on how your credit inquiries are labeled.

Just by going over these simple things and educating a client, not only verifying the debt, it can be a way to help uncover a need or want that you can potentially fulfill.  This is the art of pushing the bruise, and later in your pitch that you can help them see value in what you’ve done or going to do for them.

Sell Well – JUICEMAN

How to use a mortgage to help develop wealth

How do you use a loan against a property to develop wealth?  I say at least 4 ways…

More and more people are in need of understanding how to leverage their efforts to build more wealth.  There is a story out there of the “two brothers”, whom one gets a big fat 30 year fixed loan and the other gets a 15 year mortgage.  Over time the one brother with a 15 year pays his house off, whereas, the other brother never does, he utilizes his money to make money.

First of all, those that think a short term is best, keep in mind that you are actually losing your purchasing power by tying up your DTI (debt to income) ratio with a larger payment.  Where the lower the payment due to the longer term allows you to “afford” more stuff, be a car, boat or other homes.

Second, knowing some lending guidelines can help the average Joe investor.  You see, when you get more than 4 financed properties in a portfolio your lending rules change.  So, if you have 5 financed properties you can NOT do a cash out on any investment properties.  (well you can, it’s called delayed financing and only available within the first 6 months you buy the house CASH)  If your in that position, it’s my advice you get a LLC formed and start putting those homes in a business portfolio and freeing up your personal credit again.

Third, the average JOE American will actually have 4-7 mortgage’s in their life.  Most people that get a 30 year mortgage as a purchase loan do NOT keep that loan for 30 years.  One of the major advantages of having a mortgage is the tax deduction on mortgage interest, but most know that.  The second is how to utilize the mortgages you do.  Let me paint the picture.  Mortgage loan number 1 is obviously to buy the home.  Mortgage loan number 2 is typically within the first 5 years where someone refinances to “save money”.  Mortgage loan number 3 is typically for debt consolidation as a cash out loan.  Mortgage loan number 4 is to potentially eliminate private mortgage insurance and save money again.  Mortgage number 5 or more, could be to recast or reset the mortgage to a new 30 year fixed just to have a small 60-75k mortgage for tax deduction purposes.

In conclusion on the story of the two brothers, the one that paid his house off and then started his major push to build wealth generated less portfolio net worth than the other brother.  The one brother that didn’t take a big payment allocated his money to other investments along the way and created more wealth in life in other assets.  From buying other houses to even investing more in retirement.

taletwobrothers

In conclusion on illustrating this, a mortgage is a wealth building tool and you just don’t call a mortgage loan officer to “lower your rate”, a mortgage should be custom tailored to help you BUILD wealth.  And if some client is calling you today just asking for your rate and not willing to have a conversation with you or let you pull their credit, they are missing the boat.  Show them the link to the tale of two brothers and have them call you back once they read it.  GOOD loan officers should look at the full financial situation and goals of the individual to know what makes sense to help a client reach those goals.  IF anything.  And sometimes for those knowing they are moving in the next 1-3 years should actually do nothing.  My Dad is a perfect example, he bought everything I ever sold from Cutco knifes to what ever widget I sold, but when I originated mortgages, especially interest only loans he was against them.  Until one day my Sister was in need of money for her wedding.  He came to me and I advised him to take the biggest home equity line he could, and he did, he turned the whole mortgage to an equity line.  And he was the type that was ALWAYS against ARM’s (adjustable rate mortgage) and Interest Only loans.  He took advantage of where the market was in the last 7 years or so and has paid the same amount on the mortgage for years.  Due to him doing this, not only did he get the cash to pay for my Sisters wedding but he’s paid less in interest and owes less now on the home than if he had stayed where he was.  He accelerated his principle payments through his own discipline.  And recently just did his 5th loan, where he refinanced it all on to a fixed 30 year now just to have a small payment and interest to write off.  Loan officers that actually present themselves this way to help custom tailor a mortgage to help a client reach life goals will not only get more referrals but will do more loans.

Sell Well – Juiceman

Tale of two Brothers

Happy Good Friday! I HOPE you have a great day!

And a GOOD FRIDAY it is.  Today, weather your bank is closed, or your title company not open, enjoy the time and energy Friday’s create.  For 52 Friday’s a year, ton’s of people carry a high spirit in regards to the day.  It’s funny how a lot of people are energized at the end of the week.  I’m a fan of Monday’s more myself however the energy created on Friday’s is different.  Is it because you’re looking forward to spending time with the kids and family?  It is because you’re anticipating “not working” the weekends? What makes the energy for most is the HOPE they have for the next two days to enjoy.

The most successful people really only rest on Sunday’s and some still spend time thinking and planning their week out about to start.  What ever fuels your energy today, take note of it, and CLONE IT.  Clone that energy somehow in your own mind and attempt to hit the first part of next week with that same energy is what I challenge you.  For those of you in sales of any kind, today’s a great day to ignite your HOPE and write down your goals and dreams to hit for the next quarter.

Today due to the nature of Good Friday, remember to be thankful today and blessed for the things you have.  Today’s Friday is important in that it symbolizes HOPE.  It gives hope in the eyes of those that believe.  Belief in whatever person, or thing you want, it brings Hope.  Today is the day Jesus was symbolically crucified on the cross and walked miles with people stoning him, while wearing a thorn crown and carrying a cross twice as heavy as he weighted.  Today, he dies on the cross theory is, and on Easter Sunday is the third day out when he rose again.  So while out this weekend think HOPE, drive your imagination a little and then carry with it the energy that Friday’s give.  By having hopes and dreams we are alive.  Without them, it’s hard to even set goals to achieve something that you don’t hope to happen.  Think big, and then carry that energy into next week thankful and full of energy.  My hope is that by helping you realize that the energy you create can help custom tailor your hope to happen.

What makes the energy I have?  The HOPE of helping others for me.

Sell Well – JUICEMAN

Mortgage sales expert. Helping mortgages close everyday.

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