#MondaysMotivation – Check your 1003 for accuracy and these three things! Today I itemize the 1003 killers, that every LO should master. You know the old saying, garbage in, garbage out! Well if you take an accurate 1003 and address these three areas to be 100% half the issues most LO’s have will go away.
Before you turn in your 1003 from the weekend, double check these things. ↓
I’m here helping 1003’s come to life and become funded loans! Got something that has fallen out of agency approval, or even non-agency? In need of a manual underwrite? While I ♥ a great approved/eligible loan, we do manuals to save the day often. CLICK HERE to get approved to start structuring loans with us!
#WhackedOutWednesday – Objection Edition – Yep it’s whacked out that people just understand that rates will not be far from each other. Anywhere they go. But that’s the consumers right to “shop around” right? Here’s what I used to say all the time in handling objections at the time of origination. When pitching there are 3 main points I used to go over on every call. PLUS in this edition I go over a guideline that I forgot about!
What I suggest is you use some form of this in some way. You acknowledge the request for more information (objection), you respond as a human with understanding, and you explain what you’ve found over your experience. ARC/ARP (Acknowledge Respond Pivot or Close) What I used was this Feel Felt Found approach a lot. It helped me gather my thoughts quickly and respond.
When answering questions and addressing objections I paint pictures and assume ownership along the way. What allowed me to do this the best, was understanding the WHY? As funny as it sounds I know LO’s don’t really truly know the “why” behind the client buying, refi’ing or getting cash out all the time. If you dig deep during the application stages you will find out your clients WHY. Then push the bruise a little and show them how your custom tailored mortgage solutions helps them achieve their goal.
While doing all this in the process of the pitch or the 1003 information gathering stage I would slip in three statements that often times was the keys to differentiate myself and earn the sale.
Number 1 complaint in the mortgage industry
1/3 rule and 5% will actually deliver
Average person does 10 loans in their life time
I hope the structure and bonus guideline helps you today to acknowledge, respond and close a client that we can work on helping together. If you want to know more about how to work with me, click here!
#TwoforTuesday – So many people fall into this trap and attempt to qualify a client with 10 payments or less and omit that debt. Make sure you do make sure that the payment is 5% or less of the overall income of the borrower. If it is, and has 10 months or less that’s when you can omit that debt. Revolving accounts that are paid off monthly are also a good one, yes, you can omit those. As long as you can prove that every single month for the last 12 months the client paid off, completely.
Still looking for a launch into the new year? I have some really good stuff going on behind the scene’s and am helping broker’s and LO’s get mega leads online for FREE!
Yep FREE, while paying for ads is great, and where the “numbers” are, there is an art to this online stuff. If you have a poor organic campaign, and you attempt to run ads, well you better know stuff about optimization because your ad just might have limited results. You see this is taught in the marketing books, you should have an “push” and a “pull” campaign working hand in hand. When you do that results are inevitable. My suggestion – Get the #BLUEPRINT into action.
It’s an organic marketing campaign management that you can do weekly, daily or monthly that increases your reach, relevancy and results. And is FREE ladies and gents. If you implement it on an on-going basis there is no reason social media won’t generate you leads weekly – FREE! Here it is already, stop procrastinating, it’s not expensive at all, and positions you to win in many ways. (not 1000’s of dollars like a paid campaign) – In fact in my opinion, it’s a stepping stone to get to paid ads. If you want stellar results that is. –
The Blueprint – Ultimate Facebook Fan page Marketing campaign guide ↓
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↓
#MondaysMotivation – Guides for LO’s all week this week. We will start with a simple cheat sheet for DTI on FHA loans. A great thing to know, and guide to basically live by. Too many times I see LO’s wasting time attempting to put a file together that is way out of the ball park. And DU confirms my thoughts and then they ask me to do a manual, I tell them the same “chart” I go over in today’s video and tell them to restructure.
Use this as a guide;
#SellWell – If you are a mortgage Broker and you’re not hooked up with me, let’s work together in 2018!
#ThursdaysThoughts – Make a plan and take massive action on it. #Successwillfollow
Today I go over the guidelines for seasoning and waiting on BK’s, Foreclosures and SS! Know these waiting periods and what questions to ask your clients, it could save a headache later!
*Sponsor #oftheweek is the virtual business card, if your in sales, you should have a CARD TAPP APP! #Checkitout #SellWell
Solving Problems is my forte’! Are you a bank that has overlays to prevent risk? Good thing to do actually, however, as a non-delegated specialist my bank can help yours! We can open up products you may not have currently for your sales force, all while mitigating risk on your FHA neighborhood watch percentage. A great option to outsource underwriting on certain FHA loans. (manuals or below a certain FICO band)
Are you an LO and business is slow? Maybe your a Broker and do not have the support you wish you had on your files from your lenders. We can be the newest edition to your lender arsenal! I ♥ Wholesale Brokers! And I help others grow their business! Fill in below and let’s connect if you have any of these problems!
*Also available for any “I gotta guy” questions, hit me up in the office! #SellWell
#WhackedOutWednesday – Ever get a credit report that looks to have 10 months or less on an installment loan and think you can omit it? Well you should know these two guidelines to help you be able to do it. #Checkitout
Well how long does someone need to own the property to take cash out? FHA and Conventional guides are a little different. Plus, Fannie Mae came out with a new cash out loan, well it’s more like a rate and term, but great option for you to advertise. #Checkitout #SellWell #TwoforTuesday