Broker Magazine articles from April 2006

Broker Magazine archives from April 2006

Building a Referral Base.(hike in fixed rate mortgages)
April 1, 2006... The days of easy originations are over and may not be coming back any time soon. On March 2, Freddie Mac released its Primary Mortgage Market Survey results for the week. The bad news, interest rates on fixed-rate mortgage loans had hit a...

The Best and Worst in Teamwork.(Brief article)
April 1, 2006... The 2006 Winter Olympics in Turin, Italy, showed both the best and worst in working together as a team, an expert on the subject commented. Lynda McDermott, president of EquiPro International, New York, works on observing and facilitating...

In A Career Rut? Make A List.(of do's in business )(Column)
April 1, 2006... According to one executive coach, if someone thinks their career has become stuck in a rut, they should make a list of things they seek to accomplish in business before they die. This way, said Debra Benton, president of Benton Management...

Take Careful Steps to Establish Business Credit.
April 1, 2006... The National Association of Credit Management, a group representing business credit and financial professionals said small business owners are often preoccupied with developing new products or services, sales activities, establishing a place of...

Mistakes Made at a Trade Show.
April 1, 2006... As we enter the heart of the mortgage broker trade show season, Julia O'Connor of Trade Show Training Inc., Richmond, Va., has compiled a list of the 10 biggest mistakes she things attendees, especially first time attendees, make at a trade...

E-Mail That Doesn't Break Your Career.(professional e-mail writing skills )
April 1, 2006... An expert on the subject of e-mail declares that it "has not only changed the way we do business, it has begun to define how we are viewed as professionals and people. "It's not uncommon to have only an e-mail relationship with certain...

From The Data Department.(layoffs in the mortgage services)
April 1, 2006... Just a couple of brief statistics that our friends at two of our affiliates have passed along. First, from National Mortgage News, a table of the recent layoffs in the mortgage business. Almost 6,000 people have been let go from a total of...

Who's No. 1?: Broker is looking for the largest brokers in the country.(market share)(Brief article)
April 1, 2006... Based on preliminary data collected so far, Residential Mortgage Capital of San Rafael, Calif., is the leader so far in the race for largest mortgage broker company in terms of volume for 2005. The data are being collected even as this...

Top Brokers in 2005 (A Sample).(mortgage brokers)
April 1, 2006... (Dollars in Millions) Rk Organization Name City State '05 Vol. '04 Vol. % Chg. 1 Residential Mortgage Capital (MBB) San Rafael CA $5,500 $3,500 57% 2 Windsor Capital Mortgage (MBB) San Diego CA...

Business By Word of Mouth: Experts say that referrral marketing is the key to building your business at any time during a cycle, not just when there are no refinancings coming in the door.
April 1, 2006... Every participant in the mortgage origination business should have learned by now the importance of building a referral network. A recent survey conducted of small business owners reinforces that fact. The Wells Fargo/Gallup Small Business...

Realtor Referral Campaigns: Learn the inside stuff on cultivating these loan sources.
April 1, 2006... With the Refi Boom's last few stragglers hanging around, mortgage originators around the country are concerned on how they're going to survive with new higher rates and their continued rise. Although it might not make sense for many homeowners...

Small Commercial Referrals: In a declining residential market, more brokers are looking for sources to do these kind of loans.
April 1, 2006... Most mortgage brokers know exactly where to go to develop referral relationships for residential mortgages, but did you know that referral relationships are also very powerful in growing your small commercial originations? Realtors are a viable...

Success Takes Planning: Our roundtable at the Business Plan 2006 show put on by LoanToolbox and SourceMedia in Las Vegas takes a look at what made the show a hit.(Discussion)
April 1, 2006... MARK: Congratulations on a fantastic meeting. You're up there running the show, but also listen to what is going on. So what were the best marketing ideas that you heard? GREG: We actually had a marketing panel. One of the ideas that was...

Favorable Decisions: Mortgage brokers benefit from court decisions in CA, MD.
April 1, 2006... ALASKA Joining the Licensing Bandwagon A mortgage licensing bill has been introduced in the state legislature. Alaska is one of two remaining states that have not enacted some form of a mortgage licensing regimen. The proposed...

Wholesale or Retail: The www.mortgagegrapevine.com community gives one of its own their views on making the switch from retail sales to wholesale.
April 1, 2006... AtlantaMtgPro: Need some advice guys. I've been in the mortgage biz for almost nine years. Worked in small and large broker shops and for the last two years have originated in retail [at a bank-owned company]. I do fairly well, last year closed...

On The Rise: Ryan Steinert comes to 1st Metropolitan looking to spread the word about growing one's business with less effort.(Regional Information and Sales Exchange)
April 1, 2006... When 1st Metropolitan Mortgage promised its originators more back office support to help them achieve greater success, the company committed to providing them with techniques and information to sharpen their sales skills. It started by...

Dear Brian: Industry expert Brian Sacks will be happy to answer your most pressing marketing questions each month in the Dear Brian column.
April 1, 2006... Dear Brian, I am a new loan officer and have been looking for information on how to best get started and generate new business. How do I decide what to buy? I only have a limited budget since I have only closed a few loans and things are...

Giving Brokers Marketing Assistance: Wholesalers are helping their mortgage broker clients gain customers of their own by providing them with on-line help to create marketing materials.
April 1, 2006... The Internet and its numerous spin offs are making it possible for mortgage brokers to create new marketing campaigns. But brokers need to know what tools are out there, which are often free, ready to use and capable to generate new business in...

Recruiting Renters: A Six-Month Marketing Calendar for First Time Homebuyers.
April 1, 2006... I can predict, with absolute certainty, that first time homebuyers will initiate almost 40% of all home purchases. Why would I say that? Because according to the National Association of Realtors annual report called "Profile of Home Buyers and...

Brainstorming to Success: The Turn on Your Million Dollar Brain VI conference in Fort Lauderdale once again capitalized on the brain power provided when a group of motivated loan officers get together.
April 1, 2006... There is "opportunity in adversity," Karen Deis told attendees at the Turn On Your Million Dollar Brain VI in her opening speech. Ms. Deis, whose company, Foundation Marketing organizes the annual show (Broker and Origination News have been...

Brainstorming Competition Winners.(Turn On Your Million Dollar Brain marketing Competition)
April 1, 2006... Since the first Turn On Your Million Dollar Brain show was held in 2001 in Santa Fe, N.M., the highlight has been the annual "Brainstorming" session. Attendees are invited to share their best marketing ideas with each other, with the winners...

Stated Documentation Loans: Here are a few helpful hints for mortgage brokers on submitting these loans to their wholesaler.(Document verification.)
April 1, 2006... For many years, lenders have been offering a wide range of documentation options to enable borrowers with different needs to obtain mortgage financing. Those options range from reducing the documentation provided (and the subsequent...

Starting Out: A new person in the industry asks their trainer for help in getting a business going.(Mortgage brokers.)
April 1, 2006... There is nothing more satisfying than teaching prospective residential mortgage loan originators how to both enter the mortgage business and how to thrive in it. I am proud that I am able to help hundreds of students every month, and thousands...

Upcoming Sales and Marketing Conferences April-May 2006.
April 1, 2006... This calendar of events contains a number of key events worth noting: the NHEMA Annual Convention for the first time is being thrown open to brokers. APRIL 5-8 The Mortgage Management Conference The Hershman Group and Mike Baker...

Advertisers' Index.
April 1, 2006... A la Mode Business Development Cover 3 Aegis Home Equity 66 Aegis Mortgage Corporation 27 American Home Bank 67 Argent Mortage Company 44, 45 ...