Broker Magazine articles from April 2004

Broker Magazine archives from April 2004

Mortgage Spice.
April 1, 2004... For the past four years, Broker has had the honor of being one of the sponsors of Foundation Marketing's "Turn on Your Million Brain" marketing seminar. And as always, the highlight of the event held Feb. 4-7 in Delray Beach, Fla., was the...

A Complaint Is A Gift - It's All In What You Do With It.
April 1, 2004... Nobody likes to hear a complaint from a customer. However, Jeanne Rinaldo, vice president, relationship management for Integrated Loan Services, Rocky Hill, Conn., said by treating complaints as a gift, that would change how you react to it and...

How To Avoid Career-Killing Political Discussions.(Brief Article)
April 1, 2004... As the presidential election draws closer, it could be tempting to get into political discussions at work. But said business coach and trainer Barbara Pachter, "Don't do it. "When it comes to politics, people have strong opinions....

How To Make Certain Your Business Will Fail.(Small business)(Brief Article)
April 1, 2004... Most new small businesses incorporated in this year will fail by 2006, said consultant Leif Smith. "No matter the industry or the economic times in which the company was initially conceived, the fact remains that businesses fail on a daily...

Spam Generators Are Sued.(Brief Article)
April 1, 2004... Several lawsuits have been filed against mass e-mail senders by four of the major online services, alleging violations of CAN-SPAM, the Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003. The plaintiffs are...

Get Behind Yourself and Push.(Brief Article)
April 1, 2004... Here is a brief tip from "The Coach," Bill Sparkman: "If you don't believe in yourself, who will? Believing in yourself is the first step to success. "You are your best cheerleader. You can't wait for your manager, spouse, or anyone else...

Finish the Job.(Telemarketing)(Brief Article)
April 1, 2004... Art Sobczak, who issues tips on telemarketing, commented that most sales people he's come across have a problem. It is "not finishing. Taking calls to a certain point, then diving off with no definite commitment for a next action by the...

LOS Vendors Go A-Courting: The people who create loan origination software systems will work overtime this year to snap up as much new business as possible.(loan origination software)
April 1, 2004... The competitive environment for loan originations as a result of the end of the refi boom will transcend into the technology arena as loan origination software (LOS) vendors will work hard to get new business from the brokerage community this...

Point No. 1 LOS Choice: But will Encompass challenge Calyx's supremacy?(loan origination system)(Brief Article)
April 1, 2004... The last time Broker looked at which is the loan origination system of choice back in the December 2002/January 2003 issue, Calyx, with its Point product, had just begun to consolidate its hold on the industry. Approximately 50% of the...

Loan Brokers. Their Volumes and LOS Software.(Illustration)
April 1, 2004... Rank Brokerage Name State (part 1 of 2) 1 Nova Fin. & Invest Corp./Nova Hm Lns. AZ 2 Ace Mortgage Funding, Inc. IN 3 Summit Mortgage, LLC MA ...

Ask the Experts: The nation's best sales people on the industry's hottest issues.(Loan Origination System )(Brief Article)
April 1, 2004... This Month's Question: What Loan Origination System do you use, why do you like it and how can it be improved? Todd Reisenbigler Branch Manager American Home Loans Costa Mesa, CA "We were using Point until recently, but...

Ask the Experts: The nation's best sales people on the industry's hottest issues.(TECHNOLOGY)
April 1, 2004... Matthew McCoy Branch Manager American Home Loans Santa Ana, CA "We use Point. It's a great software program that has been around for years. I would say that its only downside is that it does not produce every state's specific...

Assignee Liability Strikes Again: Fitch Takes Stand on New Mexico's Predatory Lending Law.(securities, laws, regulations and rules)
April 1, 2004... NEW MEXICO Unable to Assess Risk Fitch Ratings stopped rating RMBS transactions containing high-cost home loans originated in New Mexico as of Jan. 1, when the Home Loan Protection Act, a law addressing predatory lending issues, became...

Turning On to a New Reality: The panel at the Turn on Your Million Dollar Brain IV Show in Delray Beach discussed marketing in a post-refi environment.(Panel Discussion)
April 1, 2004... MARK: We've heard a lot of good ideas at this conference. What is the best idea that you heard? KIM: My own (Laughter). I market to women, and I tell women that it is important for them to establish their own credit. MARK: I think the...

First Time Trainer: Amy Tierce takes on a new challenge.
April 1, 2004... Many public opinion polls have revealed that public speaking is the single biggest fear many Americans have, topping going to the dentist and even death. Possibly adding to that fear is making a presentation before colleagues in the same...

Think Like A CEO.(Amy Tierce in mortgage business)
April 1, 2004... In her presentation at the Turn On Your Million Dollar Brain IV seminar, Amy Tierce went over the things she learned in her approximately 14 years in the mortgage business. "It takes more than being good to be in successful in the mortgage...

Advice for a Newbie: A broker just getting started asks www.mortgagegrapevine.com for 'advice, tips, or somebody to start paying my bills.'.
April 1, 2004... Rob-the-broker: I just started working as a (loan officer) in central Florida. I just got my license a couple months ago and have only been working for a month now. So far I've been talking to Realtors (doesn't seem to be getting anywhere, how...

America's Refi'd Out: An industry observer warns that brokers need to be savvy on lead spending.
April 1, 2004... Contrary to what a lot of forecasters in the industry have predicted, 2004 doesn't appear to be the year for increasing interest rates, according to Gene Devine, senior vice president of Data Warehouse Corp. here, which provides comprehensive...

Open Houses: Experts say this is a way to learn how to create more business for your business.
April 1, 2004... It's been said, "if you want to be good at sales, you've got to think positively: if one door closes, another will open." That doesn't mean one has constantly got to wear a smile, even though infants and apes view a smile as non-threatening...

Habib Joins CTX Mortgage.(Barry Habib)(Brief Article)
April 1, 2004... Barry Habib has joined CTX Mortgage, Greenwood, Colo., as its national sales trainer. In his new position, Mr. Habib will be working directly with CTX's national sales force, while also hosting a series of monthly conference calls with...

The Ten Power P's: The way for originators to punch out mortgage production.
April 1, 2004... The last five years the mortgage industry has created many wealthy, happy originators. This year, 2004, will prove to be much tougher for many originators, especially those who have never faced a significantly declining market. Prosperity and...

Meeting Some New Ideas: Brokers get together in Florida to learn and share marketing techniques.
April 1, 2004... The fourth annual "How to Turn On Your Million Dollar Brain" mortgage sales seminar held in Florida recently by Foundation Marketing has to be rated a resounding success. The event, which Broker co-sponsored, established an immediate level...

Switching to Offense: Doug Smith says mortgage brokers need to go out and solicit Realtor business.
April 1, 2004... As the refinance boom ends, mortgage brokers are moving from defense -sitting in their office and answering the phone - to offense by going out and soliciting business, said a leading producer and trainer. Doug Smith, speaking at Foundation...

Commissions and Incentives: A primer on how to calculate the correct amount due to those involved in a transaction.
April 1, 2004... After getting business in the door and completing the funding of a loan, the third most difficult job for the average mortgage broker could very well be the task of calculating and paying commissions for the agents involved in the transaction...

BROKER Loan Database.(Directory)
April 1, 2004... Min Program Name FICO (part 1 of 7) 400 2nd behind neg am first 400 Below 500 Fico 400 Bridge Loans 400 Comme 400 Commercial and Mixed Use 400 Direct Lender 400 FICO scores...

FCRA's Face-Lift: What do the many changes, including the name of the law, mean for mortgage brokers.(The Fair and Accurate Credit Transactions Act)(Fair Credit Reporting Act)
April 1, 2004... Congress decided early December 2003 that the Fair Credit Reporting Act would pre-empt all state laws and would in fact prevent states from enacting stricter measures. This made some law-makers, especially those in California, furious. Congress...

Upcoming Sales and Marketing Conferences - BROKER: April to May 2004.(Calendar)
April 1, 2004... This calendar of events contains a number of key events worth noting: there will be a meeting in Texas on reverse mortgages. April 18 - 21 National Secondary Market Conference & Expo Mortgage Bankers Association Hilton...

Advertisers' Index.(Illustration)
April 1, 2004... American Mortgage Network 56 Argent Mortgage Co. 9, 50, 51 Bank of America 17 BNC Mortgage Inc. 20, 21 Business Provisions 61 Calculated...