#WhackedOutWednesday – Remember the Details!! Details – Details – Details – Especially on the 1003 which is the heart of the transaction. Make sure you are looking at the small things, like the bank account numbers, names, middle initial, credit report etc. These small things help the full loan close smoother.
The funny thing is there is a BIG correlation with those that pay attention to the details on the 1003 and have smooth transactions time after time. After all, that’s what an underwriters job is to do; verify the information that’s on the 1003. The more accurate and attentive to detail you are upfront the more loans you will close. It’s that simple. And if your doing it right, in the process of taking that application you can use the small details to help you build rapport and make the “experience” for the client one that is enjoyable.
Simple – Yet a good reminder – Slow down when filling out the 1003 and do it right the first time!!
Details are in most things associated with loans, that’s what makes or breaks them. Weather the loan fits a guideline or the information being provided is going to clear a condition. The whole reason a loan goes ROUND and ROUND at any one time is a result of some detail that wasn’t picked up on upfront. I help LO’s close more loans in many ways and spend the majority of my day talking about loans and leads. I can help you with either —- CLICK HERE!!
#WhackedOutWednesday – #WonderfulWednesday – I ♥ making impact to those in the industry of mortgages and have to thank all of you that Share, Interact, Like and Follow! (Repeat)! Thanks to all the sponsors and company partnerships we’ve developed over the 3 years now. This is the 100th video with the opener!
While I have a ton more, and don’t really promote the YouTube channel I have that has a lot more, it’s the blog that’s been the heart of it all. Connected to LinkedIn and on Facebook, the post goes many places and one reason why I like for exposure! Feel free to join the facebook group Sales Talk with Mortgage Pro’s and be sure to check out the files tab!
As intended I want to impact those that are “in” my network to help my own pipeline grow. If you are a mortgage Broker and would like a high level AE to work with, #CLICK HERE
#WhackedOutWednesday – Who’s at the top of the food chain in Real Estate this year? With inventory shortage and rising rates, it’s not the RE Agents. It’s the LO’s that are providing the best value to those Agent partners, buyer and seller leads. Today’s marketing is tomorrow’s dollars, and if you’re not on board in online marketing yet, your missing the boat!
Good news is, this week, I aim at helping change that for those action takers that want “in on the game”! A complete done for you marketing system designed to capture leads galore and have a follow up sequence of robots to help your name be seen! Yes, a bulk funnel order is going on now! We are lowering the barriers of entry to get into online lead generation for the average LO! If your interested in leveling up your online game, as a loan officer here is your chance —- CLICK HERE!
#WhackedOutWednesday – Boost your pipeline with a campaign strategy! I am a strategist and I partner with the best tools to help you create synergy in your marketing. And a lasting affect to your pillar partners! This is all part of the puzzle to put together a branding and culture campaign to grow your online presence. It’s whacked out that some LO’s just don’t take action and yet are “off referrals” and don’t even support their pillar partners even organically. If you don’t “do” something of value to your partners, some other LO will, they are out there, GOBBLING UP MARKET SHARE. Because they are adding value to their partners by “boosting listings” they have.
You can do this too, with #ListingBooster, another tool on the #JUICYList today designed to help you boost listings of up to 100 RE Agent partners every time they have a new listing. This is a great tool to add into a working campaign strategy.
Hope you’ve been enjoying the #JUICYList this week, I’ll post more on LinkedIn today on this as well. In the process of expanding your marketing for this summer fruit? I can show you how to create campaigns that help build your brand and culture with #TheBLUEPRINT! —-> CLICK HERE!
#WhackedOutWednesday – The most under utilized program out there = The USDA Loan!! It’s also a strong suit for what we do! Super excited to help others know this loan, I think this would be my go to loan, not necessarily FHA. I think LO’s just naturally go to this program with those with a lower FICO or think this is the better 1st time home buyer program. While there are some guideline differences, zero down is better than 3.5% down all day.
This is a strong suit for what we offer, and we go down to 580 FICO on USDA! Allow manually underwritten programs and have little to no overlays. The map has been expanded and the income allowed updated, my advice, check this out on your next loan! #SellWell
I am expanding with whom I am doing business with and seeking those that want to grow their business in 2018! I am helping broker’s left and right set up social media campaigns to help source new business! I am an AE, that helps YOU grow YOUR business and ask for a small piece of the pie to help! #LetsDoBusiness
#WhackedOutWednesday – Handling objections and what the market throws at you! I mean a bad hair day – It’s whacked Out! lol I have to have fun with this and keep you entertained right! Today, I talk about what I am seeing across the board, more shoppers and more LO’s losing deals because they are not handling objections!
It’s whacked out, a client starts the process with you and then goes with someone else? What? That happens when I believe you haven’t added enough value, educated the client, or really answered their questions. Today, I talk about handling objections and go over why clients object and then give some #SalesJUICE for you LO’s to use. I hope it helps and you land the deal! #SellWell
While you’re at it, why not step up your social selling game with #TheBLUEPRINT? I teach LO’s how to create branding they can lean on and direct clients too to help make yourself seem like the obvious choice. Having branding work to help you build a culture, an online presence and expand your referral network at the same time. Click below and let’s get started today!
#WhackedOutWednesday – Plan your fee’s accordingly to the transaction! Over disclosing is a good thing, but it’s not just inflating fee’s you normally place on the LE. It’s the act of disclosing all “possible” fee’s on the given transaction. That’s over disclosing.
Plan your fee’s out, and know your transactions. If it’s a potential flip from the seller, and you’re going FHA with the new buyer, disclose 2 appraisal fees. If it’s a purchase, disclose an inspection fee, and make sure you round up on the estimate of the transfer taxes. Transfer taxes can go down, just not up. Plan for the loan’s DU runs, if it’s a stickler with DU, and it took you several runs to get it approved, well you already probably have additional credit fee’s from the re-issue. If you have a bunch of collections or want to make a new best practice, add a credit supplement charge “just in case”! Bottom line, plan the fees on your transaction. That way when they go down in the end, you under promise and over deliver every time. 🙂
Plan accordingly for your fee’s, disclose right, then submit to us and I’ll personally help you knock out these loan in under contract time. 🙂 Can’t wait to help, fill in the below and #LetsDoBusiness ↓
#WhackedOutWednesday – Estimate of Fee’s need to be made in “Good faith”! Hence why it was called a GFE in the past. The new name is Loan Estimate, the concepts of the fee’s are the same. The rules of what can change, what can NOT change and what fee’s have a 10% tolerance have been updated, but the consensus is the same. Nothing changed in how you should be putting together your estimates. Know this stuff!
Below I will place the current chart that breaks down each section, however there are somethings worth noting. A notable mention is the transfer taxes, go high on purpose. You don’t need to over estimate 1000’s of dollars, but to add a few hundred just in case is ok. Another notable is the SSPL, or Settlement Service Providers List, and how these fee’s labeled with a companies name in the beginning work. Know how using a different company can be loop hole to fee variances. Know how to calculate per diem interest and how to set up an impound account. While certain things can change, there’s a best practice to be more accurate than ever before now.
Below is the current FEE chart, that breaks down the various “areas” on the LE as to what can change, what can NOT change and what has a 10% tolerance. Know this, and get good at making estimates. Yes, you want to under promise and over deliver, but “Fee’s” in general need to be more accurate in the act of Loan Origination than ever before. The CFPB doesn’t want you way over disclosing and then making it a habit to reduce fee’s later on. They want you to make an estimate “In Good Faith”
#WhackedOutWednesday – The most under utilized program is the USDA loan in my opinion. And today, because it is a #StrikeZone for me, I wanted to highlight some things for you mortgage pro’s. This is a fantastic program, and guidelines and “zones” have been updated. You’ll be surprised, you might find this is a great loan to segment an advertising campaign with.
I’m including a few links today, and the 1st will be a link to gain GUS approval on your end. Many Broker’s seem to not have this set up, and you can do so right from my website. 2nd link will be the calculator to help you see if someone qualifies for this loan. I go over several guidelines you should know, from what constitutes a large deposit to DTI ratios to look for.
I believe this is a great program, and a #StrikeZone for me. Here’s the links to help you;
The link for the GUS sign up for you brokers — CLICK HERE!
The link for the qualification calculator for USDA —- CLICK HERE!
For those of you that like ideas to source new business, here’s definitely one of them to segment and see if there’s a USDA zone near you. #SellWell
#WhackedOutWednesday – This is gold today! One of the best processing tips of the week. We’ve talked about uploading a loan, submitting a loan, and today processing the conditions you get at approval. First things first though, I will say as a reminder, PLEASE READ DU/LP and know what is asked for with income. And then ONLY send those things in at initial underwrite. DO NOT send in taxes when taxes are not needed or asked for. – FYI. (Common Mistake – Whacked OUT!)
Process the information you are sending in to be cleared in a way that makes it simple for someone to decipher your 100 page PDF of what goes to what. Don’t let it be a guessing game. Make it easy.
My goal is to help more LO’s close loans in 10 days. It’s not hard. And very simple to do if you approach the loan right. I help my LO’s do just that, and not only close them in 10 days, but source new business in the process. I’m growing!! – #LetsDoBusiness