Tag Archives: Loan Officer

Weekend Call 2 Action – Get your Robots working for you! #JUICYList

#WeekendCall2Action – Get your Robots working for you! It’s been a great week with the #JUICYList as we are updating it and going over all sponsors to #TheMortgageJUICEman!  I absolutely ♥ supporting viable tools for LO’s and those in the RE space.  If you do anything scroll the list of link’s on the list of companies, tools and training’s on this weeks episodes.  Find something that interests you or could help you in your current business state.  I know everyone is different, and in different stages of their business.  Some need training, some need more leads, some need more organization, some need more tools to appeal to their referral partners.  No matter where you are take the next step of taking action! ↓

Today’s highlight include the #Best4Last tools for LO’s, mortgage brokers, Real Estate Agents and just about anyone selling anything.  It’s the adaption of #ROBOTS (LLC) into your sales routine that will help you sell to more qualified clients.  Here’s a list of items in the #Done4You package – Facebook Funnel, Community page, FB group, CRM, lead follow up campaign with ringless voice mail, text messages and email.  Along with endless training’s, group coaching, and more videos to watch than you can count.  Here’s the link for you to scroll – Seriously take a look here —> GET LEAD ROBOTS

Second highlight was a forced solution to offer Robot LLC clients a client retention, and follow up system that is all #Done4You again.  It’s a CRM that you don’t need to build out, the campaigns are already there, all you need to do is add names and contact info and select a campaign to “Go baby go”!  This CRM is bar none the best in the market, and here’s the thing —- THE PRICE GOES UP MONDAY!!! You might want to check this full CRM offerings out and take advantage of the beta stage it’s in right now.  To see the full product offering —> GET THE BEST CRM NOW!

As Always =

#SellWell

Thursdays Thoughts – JUICY List Week! Boost your Pipeline!!

#ThursdaysThoughts – #JUICYList Week has been great, today we focus on Boosting your pipeline!! Two wonderful things have come together this summer, purchase season and low rates.  That can help refi’s also be apart of a nice balanced purchase pipeline right now if you’re doing it right.  These are the tools to do it! ↓

Listing Booster is fire right now, and just yesterday I saw this team doing more training for those that have accounts to show LO’s how to gain business with it.  This is fantastic right now in the heart of purchase season and a definite win if you get.  Of all the links I’ve shared right now, this is the hottest one.. –> CLICK HERE

To accompany purchase season this year, we are blessed with a “low low rate offering” to go back and look at past clients to see if they can save money.  If you’re organized and have a past client list you could upload that into “retain your client” aka Stikkum, and you would know with a trigger lead who’s looking to potentially do something.  And strike while the iron is hot! This isn’t just a regular trigger lead name and number though.  It’s a fully branded client notification that goes out on your behalf.  To be that “lender for life” for your clients.  If you’re looking to get organized and take advantage of your past client list when times permit (like they are now) —> CLICK HERE!

Last and certainly not least is the need for continued education and state/national SAFE licensing for many.  Weather you’re just starting out, or want to get licensed in more states, or want to do your continued ed (early) here’s the link for Summit Mortgage Training! —> CLICK HERE!

As Always –

#SellWell

Wisdom Wednesday – Training Day! JUICYList Week!

#WisdomWednesday – It’s #JUICYList Week, and today is “Training Day”! Join Us In Creating Yes’s for your pipeline, it’s training for Loan Officers, Business Owners, Mortgage, Real Estate, you name it.  The best of the best for our industry to get their LEARN on to shine.  No kidding, each of these add a critical element of sales, mortgage/RE knowledge and marketing skills that I recommend, them all!  In fact they all compliment each other, while being completely unique and different.  These are the TOP 3 training for any and all LO’s /Mortgage Broker’s to take their business up a notch!! ↓

You have to invest in yourself to continue to grow, weather that’s to read a book, join a coaching program, learn new marketing skills, or just increase your knowledge of the Mortgage industry!!  If you’re “in it to WIN it” you’ve probably come across these training’s before.  In no particular order but to match how I mentioned them in the video;

  1. MMBC – Military Mortgage Boot Camp – CLICK HERE!
  2. Next Level LO – Next Level LO Training – CLICK HERE!
  3. Apex Entourage – Break Free Academy Entourage – CLICK HERE!

My suggestion, is always be willing to learn.  The minute you say you know it all your old and rotten anyway! 🙂 Might as well be green and growing no matter your tenure or age or geographic location.  If you’re not closing 10 loans a month, click one of these above, trust me it will make a difference in your pipeline in less than 90 days!

As Always –

#LearnWell

Two for Tuesday – JUICY List Week – Lead Trap Day!

#TwoforTuesday – #JUICYList Week – Lead Traps!! Today’s the lead trap day, and announcement of the “special” I have for those that want a done 4 you solution! In the mortgage and RE industries the sales are made by gaining a prospect from a referral or from a lead trap made by that salesman! (or Sales Woman for that matter!) 🙂  Some LO’s have figured out that they do NOT want to learn this and just want to take more 1003’s and be on the phone selling and networking more.  So they hire an ad “agency” for the complete ad system to gain leads, grow their list to market too and have some follow up created.

Today I go over the software that for those that DO want to learn how to do marketing on their own, can use these lead trap software to do just that.  Gain Names, Phone Numbers and Emails all day long.  ↓

The first one I go over today is #LeadPops! LeadPops does exactly what it says, it pops open and creates lead traps in an instant, with done for you copy and templates.  It’s designed to allow you to drag and drop your logo and NMLS and be done.  The second one I go over today is by far my favorite due to the ease of use.  I’m a lefty creative, so naturally I like “making” things, and you can make funnels in less than 5 minutes on #Phonesites!  Phonesites is fantastic for someone who understands ad copy and creating an offer.  Whereas you don’t need to be a techie or understand code to use it.  Just upload pictures (right from your phone) create your ad copy and offer, tell it where to redirect, and your done!

This week I have several really cool “offers” for my followers and those that want to JUICE their own pipeline.  In talking about #LeadTraps today, many have figured out that it’s a giant puzzle connecting CRM’s, Zapier, Ad software, Follow up scripts (emails) and other things into a properly built lead trap.  And many decide to “let a pro” do it.  This week we have an offer from a funnel builder that includes the set up of all ads for less than half of what it typically costs in the market.  To get all this done 4 you solution out there, many are charging 1500-5000 for the same set up.  And do not have long form leads.  This is a funnel built for you that does everything from collect the lead to follow up, and is only 500-750 to do, 300 monthly, and what ever your ad spend is.  (there’s always three components, initial build of the funnel cost, a monthly reoccurring maintenance fee for the funnel to collect names, and an ad spend given to Facebook on most “done4you” solutions)  There’s a range for build out only due to what options you wish to have.  This week only we have the ability to turn on a lead switch for any LO for less than half what the typical costs is.  Shoot me an email here for that!

It doesn’t matter if you choose to do lead gen yourself or hire someone else to do it.  Somewhere in the process is the use of these software and components.  My suggestion is to have a mix of things going on.  Lead traps are list growers, how many do you have running?

As Always –

#SellWell

Whacked Out Wednesday – Rule of 36

#WhackedOutWednesday – Rule of 36!  Too bad many are not taught some of these finance 101 philosophies or should I say standards.  There’s a common misconception to finance we (all in mortgage industry) should help consumers understand.  The rule of 36 is that you recoup your costs, or gain an ROI in 36 months or less.  This pretty much goes with everything.

If you take money out of your 401k and have to pay it back, then make sure you are done with that payback in 36 months.  If you have to pay costs inside of a loan or out of pocket, you should see some ROI or recoup-ment of costs inside of 36 months.  Weather that comes from appreciation and equity position, or that comes from saving money monthly.  That savings should help you recoup the costs inside of 36 months.

General rule of thumb, is that you should not be including the escrow/impound account you get back from your old lender, nor should you be counting the monthly payment that you skip when you refinance.  (interest is paid in arrears people).  However, all of that should be part of your “benefit sandwich” that is explained to a client.  This concept, standard or philosophy of the rule of 36 applies to a lot.  If you put your money “into” something you should see a return on your investment inside of 36 months.  (3 years)   In the mortgage world this is standard in many cases to prove a worthy and justified case to refinance.  Called a net benefit.

In some loans such as VA IRRRL’s (VA loan – Interest Rate Reduction Refinance Loan) and FHA streamlines these loans enforce a net tangible benefit for the client.  They must lower rates by a certain percentage, save x dollars or recoup costs inside of 3 years.  For the average consumer this concept may not be understood.  But in the mortgage world it happens all the time where LO’s attempt to complete loans that make no financial sense for the consumer.  Make sure your loans make sense and do the right thing.  Otherwise it’s called equity striping.

As Always –

#SellWell

Two for Tuesday – Business & Passions!

#TwoforTuesday – Business & Passions!  There’s a lot of “shiny” objects in this mortgage space, and it’s important for any originator or AE to follow their passions.  If you do business with a passion it shows and others will find common grounds with you.  You won’t have to sell so much and find common grounds with “them”.

For example, the LO that loves bicycling and endorses it, or the LO that loves Tennis and details it, or the LO that loves long horns and documents experiences.  It’s funny but these are real, and the biggest said performers in almost all sales industries follow a passion of some sort and dash a little business in it.  Bottom line, you must follow your heart, you passions and have a want to help people in the mortgage industry.  (many industries if not all) 🙂

In all of my endeavors if I lost my passion for it I could totally tell and it showed.  Don’t become stagnant and not strive for change.  Make yourself grow by investing in yourself to continue your education, or learn more about what you are passionate about.  And then share it with others and find those that have common interests to do business with.  It will make “what you do” more enjoyable.  You have to ignite your own fire within.

Follow your passions and make impact to those you meet doing so, and those that watch your journey.  It really is important that what you do makes you jump out of bed in the am.  If you don’t have that passion about what you do, do something about it.  My suggestion could be picking up a new hobby or following a passion to do something along side of what you do now.  May it be a side gig or just an after-work activity that fuels a fire inside you.  What ever you do, make that fire burn and things will change!

As Always –

#SellWell

Thursdays Thoughts – New 1003 Week – Sections 5-6-7-8!

#ThursdaysThoughts – New 1003 Week! Today we wrap up the 1003 breakdown we’ve been doing all week and tomorrow I will do a compare contrast and point out the highlights I believe everyone should pay attention too.  This has been great breaking it down each day to help LO’s understand the new 1003.

Section 5 is the declaration question section, and is basically all brand new.  The current 1003 has 10 questions, the new one has 16!  Comparing the two, there’s 3 question on the current dec section that are not even asked, because they are asked elsewhere on the 1003, and then the new 1003 has 9 new questions a LO must ask.  This section is broken down into two, 5a, and 5b.  About this property and your money for this loan, and about your finances.

1003Section5a

And Section 5b ↓

1003Section5b

Section 6 is all about the legal acknowledgements and agreements with doing a home loan.  It breaks down 6 areas of legal verbiage for the client to sign off on.  AND there is two signature lines on the primary borrower’s 1003!  (Tomorrow I go over this)

1003Section6

Next up on the 1003 is the very familiar Demographic information page section 7. This is identical to what we have now on the current 1003, I see no evident changes.

1003Section7

The last section of the 1003 is section 8.  The Loan Origination information section.  And this contains all the same information as on the current 1003 just the the order of which it is portrayed has changed.  The company is now first, versus the LO information.

1003Section8

And of course on the last page of the 1003, the borrower’s name goes on the bottom left that coincides with the 1003 of that borrower.  I like the flow overall, and there are some new sections, new questions and better information gathered as a whole on this new 1003.  I think it takes a lot of the “holes” on the existing 1003 and makes it stand out as questions on the new one.  KNOW YOUR CRAFT inside and out.  This is a major change and I believe most LO’s are just now starting to take a look at this new one.

Now it’s time to get more loans!  #GetOnPoint with #BluePointMtg!

As Always –

#SellWell

 

 

 

Wednesday’s Wisdom – New 1003 Week – Section 3 & 4

#WednesdaysWisdom – It’s the New 1003 Week – Section 3 & 4 are broken down today! I have to say I really like the “chart” format to every section of the 1003 as I see it.  It will require LO’s to ask more questions, and common things missed are listed as questions.  I like it a lot.  Today we start with section 3 and is the REO section.  The instructions at the top of page 4 are just as the other sections, very easy to read and spell out what’s needed.

Section 3 starts off with the REO section of the home being refinanced first.  (and is in bold) Otherwish if you do not own any Real Estate, check the box!

1003Section3a

Section 3b is a continuation of the REO section for other properties, and so is 3C.  Very simple page 5 of the new 1003, and is to detail REO’s owned.

1003Section3b

1003Section3c

And of course at the bottom of page 4 you have the borrower’s name the information is associated too!  Now page 5 Section 4, the loan and property information.   Again I like how it starts off and is self explanatory for instructions.  The newest thing on here is a FOURTH option for occupancy.  And then the 2 questions at the bottom of the first chart.

1003Section4a

Then section 4b breaks down other loans on the property they are buying or refinancing.  This includes seconds, hard money, or seller carry backs.

1003Section4b

Section 4c breaks down rental income and would be filled in on any home that is a 2 unit or more.  Primary or investment to indicate the expected monthly rental income.  No you do not take 75% in this section, that the underwriter would do in their section for this, just list the full rent expected to be received.

1003Section4c

The final section on page 5 is the break down on gifts for the transaction.  I like the new 1003 in that it highlights the often missed items on the current 1003 now.  This also is put together in a chart like format and gives examples, it’s like selling for LO’s.  What a great reminder too.

1003Section4d

And guess what’s at the bottom of page 5?  You bet the borrower’s name at the bottom left that the information is applied too.  I love this new 1003 and the more I analyze it the more I see how it brings to life the issues we have in loans and makes it more transparent for underwriting.

Ok, as I stated in today’s video, I’m in the office taking “I gotta guy” questions to help you bring a 1003 to life!

As Always –

#SellWell

Two 4 Tuesday – New 1003 Week – Section 2

#Two4Tuesday – New 1003 Week – Today we break down section 2 of the new 1003! The flow of the URLA (Universal Residential Loan Application) has definitely changed.  But for the better, the instructions are more clear at the top of each page, and information flows nicely in each “charted” section for the borrower.  One thing that sticks out to me the most, is the “lists” of items and examples at the top of each charted section, is a great minder to all sales people what types of assets, liabilities, etc there may be.

Section 2 starts off with a nice instructional sentence at the top and moves right into assets first to list the total of value for that section.  Again note the lists that this chart shows.  Great sales tool in my opinion.

1003Section2a

The section 2b is new, and is a great itemization to some of the most commonly missed items on the old 1003.  It points out “Other Assets” you have such as an EMD already in escrow, or sweat equity or rent credits or proceeds from a sale of a home.  See again the list above the chart.  Great section to be on the 1003 and good new edition.

1003Section2b

Section 2c is the start for Liabilities and again I like the “chart look”.  What’s interesting is that Real Estate is excluded in this section specifically and you are to list all items as debts except mortgages in this section.  I wonder how the LOS systems out there will transfer over the debts into this form.

1003Section2c

Page 3 is all Section 2, and ends with the “other liabilities” that are often missed to disclose, such as Alimony or Child Support, separate maintenance etc.  What sticks out to me again is the name at the bottom of the page 3 that identifies who is the borrower on this application.  Their name is to be there so the underwriters know which 1003 belongs to who.

1003Section2d

As indicated yesterday there are a few extra forms on the application now.  In fact a second borrower has a complete separate application identified just for them.  You can see the identification of “Additional Borrower” on the 1003 for any co-borrower on a loan now at the bottom of all pages.  (where their name goes too) Another is the unmarried addendum that is needed if they selected unmarried and then a part of the 1003 that is actually filled out by the lender!

1003Additionalborrower

And the additional addendum for those that select unmarried in section 1.  ↓

1003unmarriedaddendum

I like the flow so far, but what it means in reality is the LO has to have more “apps” taken.  Meaning there is more forms to fill out a home loan application.  And more specific questions that need to asked and are pointed out inside the application in various sections.  Even a portion filled out by the lender.  Quite unique.  I would have these printed for the first several and go through them the long hand way to learn the new changes.  But that’s just me.

As I always indicate, being a master of your own craft starts with the heart of the transaction, which is what underwriters verify information off of, the 1003.  All LO’s need to know this like the back of their hand.

As Always –

#SellWell

Weekend Call 2 Action – Follow up Friday!

#WeekendCall2Action – Super excited to announce #FollowUpFriday today! It’s the secret sauce to gaining loans.  Follow up is the weakest point of most sales pros but is the most crucial in converting “Leads” into customers.  Most people fail because they are only reaching out one way.  The phone.  If you’ve been in groups or mortgage sales any length of time you will know the biggest question in our industry is – What’s the best CRM?  A true customer relationship management software designed to actually assist you in following up with your leads has been the question of the decade!

As “lead gen” has evolved the options to use such as text, email, ringless voice mail, click to dial were all features one or more CRM would have, but not all of these functions.  Typically you would need to embed multiple systems in order to have the best complete package!  WAIT NO MORE!  A solution has been made!  Please WELCOME the newest edition of the JUICY list (Join Us In Creating Yes’s) for #FUBots!

A CRM with all these functions and more.  Dashboards like messenger, ring-less VM, text, email, click to dial, and follow up scripts all built in.  No more hiring someone to write your “copy”.  It’s all tried and true and updated to be the most effective follow up campaigns to vet your NEW and OLD leads.  Work with a CRM designed to help you do what you do best – SELL.  And do it to people responding to the Follow Up CRM bots that are deployed to attack your leads!! ↓

Super excited to announce the newest edition of the #JUICYList today as a CRM.  The missing element in a well rounded LO growth plan.  This is in beta stages now and the costs for “other systems” that make up what #FUBots does would costs you over 400 dollars per month.  GET FOLLOW UP BOTS CRM HERE!

I’m all about having a well rounded plan of attack to help LO’s gain business, learn to do loans, and then send them to my #WholesaleLender to #GetOnPoint and CLOSE!  #GetOnPoint with #BluePointMtg and let’s close the apps you take from this!

As Always –

#FollowUpWell