#MondaysMotivation – Mortgage Translation by Fannie Mae is finally here. A decade late and a dollar short, but at least it’s here. Funny thing is you can be taking 1003’s in a wide array of languages with the PerfectLO application. But now Fannie Mae has stepped up and is making a website for Mortgage Translation – They have a spanish version of the 1003 listed now. More to come in the next 24 months.
Some Monday Motivation on getting creative to get loans done, did you know there’s a restriction to how many non-occupant co-borrower FHA loans someone can do? Also Freddie Mac has the 85% LTV CASH OUT loan back. Find out more in today’s episode! ↓
For access to tools to help you get creative check the files tab in Sales Talk with Mortgage Pro’s today! In talking about motivation and getting “creative”, JUMBO loans is where it’s at to do that. Most Non-Agency/Alt-QM loans are just that, a JUMBO loan that goes down to minimum of like 100k or so. Rarely do you see these go less than that. I was taking a peak at some guidelines and noticed we have 95% LTV available up to 1.5 MILLION dollar loan amounts! #GetOnPoint with #BluePointMtg this week. Partnering with more #MortgageBrokers that are looking for a great #NicheLender! CLICK HERE!
#TwoforTuesday – Boost the Perfect LO! It’s JUICY List week! I challenge you to check out at least 1 of these links this week. They are all designed to help you as a mortgage originator or Broker Owner to grow your business. Today is no exception, in fact two of the best tools are highlighted. Check them out! ↓
Get the virtual 1003 application that can help you be a #PerfectLO! It’s the Perfect LO App, and allows you to never miss that one question that could affect your loan. Also allows you to take a 1003 in multiple languages!
And of course get Boosting listings of your RE Agents to help them source leads! It’s LISTING BOOSTER – One of my favorite “secret weapons” for LO’s to take advantage of. This allows you to co-brand with Realtors, and even network with 100 Agents to boost their newest listings!
I love love ♥ the questions I get daily. It’s what makes me tick. If you have an “I gotta guy” question let’s chat, I love guidelines. I love calculating income, or helping structure a loan. I want to be a big resource for anyone that wants help in growing their business. #LetsDoBusiness – Get on Point with #BluePointMtg and reach out to me with questions on your next loan. Who knows, we can make loans come to life with our #Niche products. CLICK HERE – To get a sneak peak of our products.
#MondaysMotivation – Join Us In Creating Yes’s all week long. This week I will talk about tools that help my Broker Partners grow their business. As part of my career in Wholesale Mortgage’s, as a lender rep, I always looked to add value to my Broker Partners to help them grow their company.
Over the years, I endorse or helped others with use of certain tools. Weather it be a website, or a way to build a list, a CRM, or a mobile application. Credit repair or ways to retain your clients. I looked to give recommendations to my LO’s to help them do more loans. And in the process help them close some of those deals! #GetOnPoint!
Get on Point with #BluePointMortgage! – We are a great up and coming wholesale lender that is focused on niche’s to help Broker’s grow their pipelines. We have over 9 different programs on Non-QM and we love government loans. Yes our pricing is fantastic on Conventional as well, feel free to price us out on any program! FHA/VA down to 550 FICO and our Non-QM rates are rock solid. CLICK HERE If you want to price a Non-QM loan please reach out, I will do that for you personally. Otherwise, get on point with BluePoint here! And get a copy of #PERFECTLO for yourself, you will take better applications that way!Click here to schedule a webinar/free trial Let’s partner together to get more done!
#ThursdaysThoughts – Join Us In Creating Yes’s all week long. – Today I go over three categories as well, 1003 applications, groups for networking, and done for you marketing solutions. Wow, did I miss a lot. The feedback has been great this week and I will be adding two home security companies that can be”given” as part of your white glove treatment to your clients. Also will be adding some additional resources to the list next week, stay tuned.
Today to start, I have to reiterate that LO’s should have some trackable app they pass on that acts as a business card. Oh yeah, that’s number #1 thing on the JUICY list. (see Monday’s video for that) The point is you can take an virtual 1003 app link and embed that link to a button on the card. SWEET! It’s a way to have a client fill out a 1003 without you as an LO actually! These applications walk a client through the 1003 questions asking (more and or better) questions than you – Yep they’re designed that way. Perfect LO and Pre-App 1003 are the applications. And they are fantastic tools for a Loan Officer in today’s day and age.
Next I talk about groups for networking. You see each and every LO out there, should have multiple ways to generate a deal. Not just online, not just referrals from past clients or RE Agents. You need to diversify. A well rounded marketing plan to source business from many angles is needed. I talk about these on my Friday, #WeekendCalltoAction video’s all the time. Today, I mention the best groups, and they are LBN, BNI and Chamber or Commerce groups. And they exist is pretty much every county and city across America. Get in one, start networking. If you’re a LO, it’s just all apart of the plan for local area dominance.
Last and definitely not least today, I have surrounded myself with marketing pro’s for years, and I follow trends all the time. I was an early adapter to marketing funnels on Facebook years ago, and spent the time learning them. Now, I’ve surrounded myself with the teams that have the best done for you solutions for Facebook marketing. I’m talking the real pro’s, with a full scale agency that can switch on lead flow in a week for you. Including provide a CRM, a 6 month email drip campaign and even make you a community page. In short, there’s two types of “programs” for this, one a simple buyer/seller lead campaign. It can be directly for a RE Agent, or you as LO’s can help obtain leads (pre-qualify them) and pass them on to your best referral partners. From a marketing stand point people want a home, not a mortgage. From a compliance stand point, it’s easier to “advertise” a list you can give someone, versus worry about advertising a rate or other compliance disclaimers in the ad. However, some do want a custom funnel to go after VA leads, or a Jumbo lead campaign due to their area. We have a solution for custom built funnels as well!
No matter what, some of these companies and things on the JUICY list this week you LO’s should embrace and take advantage of. As always #SellWell
#ThursdayThoughts – Join Us In Creating Yes’s in the mortgage industry. Get JUICY with us! All this past year I promoted several companies and gave their marketing dept exclusive rights to advertise in my group on Facebook. Sales Talk with Mortgage Pro’s! This next year, I want to add a few companies to complete the list.
What I need is a CRM sponsor! If you work for, or support a particular CRM, share your thoughts today with me. I would ♥ to hear it! I have a goal to network with all the necessary tools a LO would need and offer them as solutions to 4000 mortgage pros’ in the group!
I have to take time and recognize the awesome partners I’ve connected with this past year. If you need a website built, the best Lender Home Page you can get is with a partner I know Rocky Forountan. Professional landing pages for your need of a website, weather big mortgage company or small brokerage shop. If you need a virtual 1003 application software to help you take more 1003’s, I have just the thing for you. Perfect LO is a great mortgage application that can help you prescreen and ask the right questions upfront for a complete application. Feel free to reach out to Derek Malilia a great friend of mine now. It’s amazing the relationships I’ve built this year. To highlight one or two is just not enough, I feel like I have so many awesome partners already!
Thanks to my virtual business card sponsor on the JUICY list as well, Miss Dana Croft! If you are looking for a way to network with others and leave a mark, get a hold of the Card Tapp App. This is a virtual business card you can track when prospects are “looking” at rates and strike while the iron is hot! Great sales tool! And last but certainly not least is my credit repair connection! First let me say this, there are soooooo many credit repair “peeps” out there it’s not even funny. I was looking for one that can handle volume, had a support staff and is really good at producing results! – Well I found the best in the country I think. If you’re in mortgages and need to network with a professional credit repair company that delivers service above and beyond the call of duty, hit up 700 Credit Repair. Billy Alt and his team are fantastic.
Yeah, I am looking for a CRM company to promote and give exclusive advertising rights in my group too, what other companies should I have in here? Got ideas, let me know! Let’s network! Happy Thursday! #ThursdaysThoughts
#TGIF – The Grind Includes Friday (everyday for me) 🙂 – Very frequently I am asked about rules of the 1003, and wanted to drop two commonly asked questions as guides today. Number 1, the 1003 is going to changed, yep you’re going to have to learn a new one! But not until 2019. So you still have 1 more year with the current version of the URLA. So good news there. Number 2, the most commonly asked question I get asked is about the work history. Most get confused about the rules for using income, and how to fill out the 1003. Let me clarify. – You need to detail a 2 year housing and a 2 year work history on the 1003. It’s as simple as that. If they have only worked at their current job for 30 days, just keep asking the client “where did you work prior to that?”. Make sure you detail 2 years as a history of working. Now high school does NOT count, but trade schools and college do. If there is more than 30 day job gap all you need to do is get a letter of explanation from the client (loe/lox). Simple. Number 3, the rule of 5. I love this rule. And many do not know it. So here’s a cheat sheet to refer too. Commission, bonus, over-time, self-employed or working two jobs are the 5 things in this rule. And really you only need a TWO YEAR HISTORY OF WORKING TWO JOBS AT THE SAME TIME! The rest of the rule of 5 you only need a 1 year history of doing. With exception of being self employed and actually working in the same field for 2 years or more, but you can be self employed for 1 year only and do a home loan.
Better yet, you can use our #SponsoroftheWeek PERFECT LO to help you take an accurate 1003 from the start! #SellWell
I’m growing again and today calling Broker’s I do NOT know at all. If you watch this, share it with a fellow Broker or Bank that could use a great Account Executive to help them close more loans and gain more business! #FilloutBelow
#MondayMotivation – What I do well is close FHA/VA loans. I ♥ these loans. I coined the “I gotta guy” questions for a reason. While I have a full suite of products these are my strong suits. I also help LO’s learn how to advertise on Facebook and JUICE their pipelines big time. Focus on what you do well!
*Sponsor #OftheWeek is PERFECTLO 1003 application. Here’s a short video that explains it all #Checkitout PERFECT LO VIDEO !
#WhackedOutWednesday – Back at it with the end of the month closings. Balance your file, put in your locks price, estimate your impounds based on information on title, the cash to close should NOT change drastically. In fact, the one thing most will not have in advance is the actual “aggregate adjustment” from title. That’s the only number really that should change what your client is bring to the table. #SellWell
Sponsored by Perfect LO, a mortgage application software tool. Take 1003’s interactively, with over a 90% complete ratio. PerfectLO Website
#TwoforTuesday – Sales TIP day, I go into the two things that have made me successful in whatever I do. Consistency and Action. Both work hand in hand, and all start with taking action. Make time to prospect, make time to follow up, make time to go over emails and voicemail. When you create consistent habits of action is when you will see results in the long term. #SellWell