Broker Magazine articles from December 2001

Broker Magazine archives from December 2001

What Wholesalers Want.(roundtable discussion held with wholesalers and brokers)(Brief Article)
December 7, 2001... Getting to know what wholesalers want is a tricky business, but it's an essential one for brokers. It's money out of your pocket if you originate loans wholesalers don't want, or don't originate loans they do want. That's why I took...

The Aftermath in the Workplace.(reactions to terrorist attacks in workplace)(Brief Article)
December 7, 2001... All Americans, not just those in New York and Washington, have been affected by the events of Sept. 11 and afterwards. A study from GHR Training Solutions, Coral Springs, Fla., called "The Impact of September 11th on the American...

Don't Be Afraid To Close the Deal.(Brief Article)
December 7, 2001... Sales trainer and speaker Rick Grosso complains that salespeople are afraid to ask for the order. "Oh, I know all about the new sales methodologies that say you shouldn't have to close. There are trainers preaching partnership selling,...

Differentiating Yourself From Other Originators.(Brief Article)
December 7, 2001... In a recent TelE-Sales Hot Tip, Art Sobczak, consultant and president of Business By Phone Inc., Omaha, said, "Here is something I hear quite often: 'We sell a commodity-type product. We really have nothing different to sell.' (What we're...

The Tatum Top 10 List.(Tatum CFO Partners' list)(Brief Article)(Column)
December 7, 2001... As this article is being written, mortgage rates are approaching all-time lows and refinance applications are streaming in the door. But as those who have been in this business for several years know, after the boom, the bust is inevitable....

Keeping People Motivated.(Motivation Show was held in Chicago)(Brief Article)
December 7, 2001... The Motivation Show took place in Chicago's McCormick Place from Oct. 9 through 11. It was billed as the world's largest trade show devoted to motivation program planning. There were over 250 products and services displayed at the show,...

What's Hot, What's Not: Okay, in a refi boom the 30-year fixed sells like gangbusters, but have you tried the hybrid ARM or 'All-in-One' loan?(mortgage lenders offer creative financing options)
December 7, 2001... With rates falling and an increase in loan refinancings, the 30-year fixed-rate mortgage not only remains the king of all loans, but its popularity has increased. And it's not hard to predict that if rates turn back up, one-year adjustables...

New Products for Home Improvement.(America's Money Lending Source offers new home improvement loans)(Brief Article)
December 7, 2001... There is also product development happening on the subprime side of the business. America's Money Lending Source, Escondido, Calif., has introduced a line of home improvement loan products to be marketed through mortgage brokers,...

Conventionals Are No. 1.(Mortgagestats.com)(Brief Article)
December 7, 2001... Our survey shows brokers originate a wide range of products. The conventional loan, or variations thereof, is the most popular product that mortgage brokers originate. That was the response to two questions on the 2000 annual survey of...

Marketing in a New Landscape: Brokers must change their tactics.(Brief Article)
December 7, 2001... September 11 has made consumers pull in their horns considerably. How do you get them to come back out of their shells? In the past, this column has encouraged the use of direct mail as a way to generate new business. But recent events have...

Defining the Relationship: SITE OF THE ROUNDTABLE: Mortgage Bankers Association of America's Annual Convention, Toronto, Canada.(roundtable discussion with various brokers)(Panel Discussion)
December 7, 2001... Partnering with wholesalers is the most important thing brokers do. So, what's on wholesalers' minds? What makes them tick? And what do they expect from you? We talked to a couple of them at the MBA annual convention in Toronto. BROKER:...

Defusing the Tough Ones: When the gentle art of persuasion isn't enough to defuse an angry client, try a little Verbal Judo on them.(Brief Article)
December 7, 2001... Just your bad luck. You've got one of those difficult, angry, or even potentially violent clients you have to deal with once in a while right in your face. You're probably not thinking about the ancient philosopher Aristotle just then. The...

Other Takes on Confrontation Tactics.(Brief Article)
December 7, 2001... Hometrust Mortgage Corp., Hollywood, Fla., broker Larry D. Beckford has never heard of verbal judo, but stated he has "zero interest." "I am sure these types of books are helpful but experience is ten times better!" he said. "You may build...

BEST IDEAS: Mortgage Brokers Share Tips about Marketing.(Brief Article)
December 7, 2001... This Month's Question: What is your best marketing idea? Ken Lindberg Title: President Company: Lenders Mortgage Service Inc. Location: Tacoma, WA Response: Among our marketing strategies, we always send a thank you note...

Predatory Laws Thrown Out: Brokers in Georgia and DC are happy to see them go.(legislation information)(Brief Article)
December 7, 2001... GEORGIA/DC: Action Points to Worries Lenders will Leave Markets. Mortgage brokers in DeKalb County, Ga. and the District of Columbia received good news when predatory lending laws in both municipalities were taken off the books. The...

Getting Through To The Borrower: Brokers can learn valuable lessons from the big guys when it comes to online lending.
December 7, 2001... Technology is supposed to level the playing field. But when it comes to online originations, it threatens to put the big lender as close to the borrower as the broker. Here are some lessons brokers can learn from the big guys. Depending...

Lessons from Big Online Lenders.(Brief Article)
December 7, 2001... Start with the customer. If the changes you are making to your website didn't originate with an idea that came from or was approved by your customers, don't make the change. And you have to change. Don't think of your customers as loan...

Using a Consultative Approach: Laptops at the POS save time and allow loan officers to sell more.(mortgage banking techniques)
December 7, 2001... Many mortgage lenders - especially the large ones -often have a "resident guru" on staff who seems to know everything there is to know about the wide array of loan products available to borrowers. You probably recognize the person I'm...

Direct Marketing and Anthrax.
December 7, 2001... Comments from our chat room at www.mortgagegrapevine.com. Editor's note: The following is an edited combination of two Grapevine threads on the same topic, marketing and gathering leads in the wake of the anthrax scare. Hellyhansen: I...

Upcoming Sales and Marketing Conferences.
December 7, 2001... December 12-14 Mortgage 101 Seminar Illinois Association of Mortgage Brokers Association Headquarters Lombard, IL (630) 916-7720 Fax: (630) 916-7862 The seminar will contain very basic information for those...