Mortgage Community

Rates shoot higher following Freddie loss of 821B

The Treasury is set to auction off..

If you haven’t read Jeffrey Gitomer’s book “Satisfied Clients are Worthless”, you need to.  There is truly a difference between creating loyalty and just having satisfied clients.  After reading and pondering what I learned from the book, it changed how I look at my clients and the opportunity to create Loyal Clients for Life...

E-mail has become an essential part of our daily business. In most cases, we type what's necessary then push send. Take a moment to consider how these interactions can be used as an additional opportunity to impress the recipient, brand yourself, and ask for referrals. There are a variety of ways to add strength to your e-mail signature...

High producing originators are successful because they continually look for new ways to market and place themselves in front of an ever increasing number of potential buyers.  Every day and at every opportunity, these originators are trying new ideas.  Today’s marketing tip is one of those ideas.  We are currently in a purchase market. Take this opportunity to sell your services to everyone involved in each tr... [read more]

Sales 101 We have been taught again and again that the key to being successful in sales is the development of relationships.   If this is true, then why do sales trainers and sales managers spend so much time trying to teach cold calling skills?  Pick up the phone and make a call.  Some believe that we are proving our mettle by demonstrating an ability to “beat the streets.”  We have... [read more]

It is amazing to me that many loan officers do not make calls to the listing agent unless the transaction absolutely requires it to move ahead. Even if the listing agent is already tied in with a lender, you never know what might happen in the future. Let me tell you a brief story…

What is the most effective marketing system for newsletters?  The general answer to this question depends upon your objectives for distributing a newsletter. Are you interested in keeping in touch with clients or generating more business? I have always been partial to marketing solutions that employ maximum synergy. In other words, there is maximum effect for the energy expended...

Being present at your closings is one of the best places to market and reinforce a business strategy of working primarily on referrals.  Take this opportunity to give some type of closing gift to help cement a relationship with your borrowers.  This can also help to smooth over any rough edges that may be left over from the loan process...

If you’re like many of the loan officers who entered the mortgage business within the last five years, you may be a bit surprised by the changes in the marketplace. I would like to tell you now, as well as any loan officers that are struggling to keep pipelines full, that you don’t want to get caught in what I call the, “nothing’s happening because nothing’s happening” trap...

The secret to building a strong mortgage practice that will survive in any market condition is “getting and keeping customers.” This brings me to one of the most popular topics of the day…getting good quality leads!  But it’s not just about leads. The way you handle a lead matters a lot. How you received the lead matters as much as what you do with it when you get it...

How many times have you heard from a Realtor, "I'm trying to give you referrals, but all my buyers already have a lender"?  This is very common, so becoming a second opinion lender allows you to still come in contact with their buyers.  Explain to agents that your goal is to help their clients get the best deal possible.  Offer to review their buyer's current good faith estimates so they can compare numbers with ... [read more]

I just returned from speaking at a very large sales and marketing event for loan officers. There were over 600 in attendance, so I would define that as very large. There were a variety of speakers selling various marketing systems and giving marketing advice.  While they were all good systems and good marketing advice, I gave a slightly different message.  OK, perhaps it was radically different.  I would like to clarify the mess... [read more]

Rates rose Tuesday..

Rates improved Monday...

A short verson of Fannie Mae

Inflation fears pushing rates higher

Inflation fears continue to dominate trading

Stocks struggle early morning, mortgage bonds rally

Rates bounce back from Friday's bloodbath, but fail to erase all the losses.

Mortgage bond prices are higher in extremely volatile trade Friday

Rates continue to improve, better by 1/4% since Monday

Rates improved Tuesday.

Mortgage bond prices are lower Monday morning adding to the losses seen Thursday afternoon.