Broker Magazine articles from December 2004

Broker Magazine archives from December 2004

The Road to Success.(New York Association of Mortgage Brokers)
December 1, 2004... It is always a pleasure to hear from a group of mortgage brokers that gets what being in the business is about. It is about serving your customer in the best way possible, with strong ethics and honesty. At the recent New York Association...

Tips to Keep in Mind When Starting a Business.
December 1, 2004... Uncertainty comes with the territory of starting a new business, said entrepreneur and author Wayne McVicker. "I can't stress enough how important it is to pay particular attention to common-sense keys to the development of a strong...

Do You Create Liars Out of Potential Clients?
December 1, 2004... Art Sobczak, an expert on telemarketing calls, believes one common technique used by sales representatives who are going nowhere on a prospecting phone call turns the target into a liar. Many salespeople use the following lines: "Well, keep...

Short Commute Desired.(Brief Article)
December 1, 2004... ASurvey conducted by the National Association of Realtors and Smart Growth America, said the prospect of longer commutes to work is leading them to look for new homes in walkable neighborhoods. For nearly 80% of respondents, a commute time...

United Guaranty Offers Training.(AIG United Guaranty)(Brief Article)
December 1, 2004... AIG United Guaranty is offering three interactive training CD's on marketing, appraisals and customer service. Each CD takes about an hour to complete and includes quizzes to test users' knowledge as they proceed. The first is "How to...

Turn Resolutions Into Goals.(Brief Article)
December 1, 2004... IFT, an organization dedicated to providing with women affordable, executive caliber coaching, and its founder Sophia Kabler, said women need to turn their resolutions into goals which put "a skip in your step." Her key ingredients to...

Avoiding Motivation Killers.
December 1, 2004... The impetus for personal motivation, said Leif Smith, a business and sports consultant, is often discussed, but rarely agreed upon. Can it be taught, caught or does it come from within? "What is seldom discussed with regards to motivation...

Survey: Bush Good For Small Business.(Geroge W. Bush)(Brief Article)
December 1, 2004... An International Profit Associates Small Business Research Board survey found that owners of small businesses are solidly predicting the re-election of President Bush will lead to improvements in the economy in 2005. Approximately...

Receiving Advice: For mortgage brokers used to giving advice, when they have a question about the latest products or trends in the business, they turn to their account executives.
December 1, 2004... Mortgage brokers are seeking to become the trusted advisors for their clientele, the borrower. But when the broker needs advice or information, whom do they turn to? They go to the sales person they deal with most, their wholesaler account...

Outsourcing Payroll: 2005 is just around the corner and it's the right time to make a new year's resolution. This year, why not make a vow to eliminate your payroll pains?
December 1, 2004... Whether you process payroll manually or use a service, the outsourcing options available to small businesses are better than ever. If you're like most small business owners, you long for the good old days. Remember when you first started...

When is it Time to Outsource Payroll.(Brief Article)
December 1, 2004... Here are some signs that you may be ready to outsource your payroll function. * Processing payroll is taking up too much of your time, and you'd rather use that time to focus on other things. * You find it difficult to keep track of...

Allied Still Largest: But NovaStar and Carteret are now the second and third largest brokers.(Brief Article)
December 1, 2004... Houston's Allied Home Mortgage Capital Corp. remained the nation's largest mortgage broker in 2003, results of the Broker annual survey of the business found. At this point, some people might be saying wait a minute - this list varies...

Top Loan Brokerage Firms in 2003.(Directory)
December 1, 2004... (Dollars in Millions) (part 1 of 2) Rk Brokerage Name Location 1 Allied Home Mortgage Capital Corp. Houston, TX 2 Novastar Home Mortgage, Inc. Kansas City,...

State Law Update: High cost loans are the issue in MA and IN, while regulatory matters top the table in CA, IL and WY. Meanwhile, AK wants an increase in its FHA limits.(Massachusetts, Indiana, California, Illinois, Wyoming, Arkansas)(United States Federal Housing Administration)
December 1, 2004... ALASKA Support for Higher FHA Limits The Mortgage Bankers Association in coordination with its state affiliate in Alaska, recently penned a letter to HUD Commissioner John C. Weicher and Sen. Ted Stevens, R-Alaska, in support of higher...

The Virtual Mortgage Brokerage: Creating flexibility in your infrastructure by using technology.
December 1, 2004... A virtual mortgage brokerage (VMB) doesn't have brick and mortar. It may not have permanent staff outside of sales agents or loan originators. It won't have paper outside of the original signed disclosures. What it does have is the ability...

Switch Hitting: Moving your business from originating prime loans to non-prime.
December 1, 2004... It has long been held by most within the industry and with abundant evidence that an underwriter with a history of doing exclusively prime loans cannot switch to nonprime loans - let alone do both simultaneously. However, ComUnity Lending...

Success in the Gulf Breezes: The Roundtable at the Southeast Regional Mortgage Brokers Conference talks about Mississippi's new education requirements and life after refis and GFLA.(Panel Discussion)
December 1, 2004... BRAD: It might be appropriate having this conference in a casino, because we are entering a period in this industry where it might be like shooting craps. A lot of originators will be taking chances as volume slows. How do you see the mortgage...

Top Five Most Idiotic Sales Techniques: The author says he had problems limiting himself to listing only five.
December 1, 2004... There are so many idiotic techniques masquerading as professional sales tools that it took considerable restraint to limit my list to only five. Idiotic technique No. 1 is the Porcupine Close. This is the equivalent of ramming a red-hot...

Gathering Together to Honor Success: The Annual Top Women Producers and Managers Conference shows that gender is irrelevant in creating business opportunities.
December 1, 2004... There are a lot of mortgage events out there for loan originators who are struggling in production, but one conference in particular targets those who are already successful and want to take their business to the next level. However, this event...

Low Cost Marketing: The online community at www.mortgagegrapevine.com gives some suggestions to a fellow mortgage broker who wants to get the message out but has little money to do so.
December 1, 2004... Origination Sensation: (What is) the most COST EFFECTIVE and POTENT method of advertising you've ever implemented? My budget, to say the least, is what many would refer to as "shoestring." Any suggestions, folks? Much appreciated in advance....

Can I Get A Copy of the Guidelines?
December 1, 2004... More-Stress-Please: Why do all my AE's look at me like I'm nuts when I ask if I can have a copy of their guidelines? I'm told not to worry about it; if I have a question, just give them a call. I'm told I can never really learn them anyway...

Moving Beyond Refis: Net branch manager Gina Hoosier studied the real estate business in an effort to salvage her own.
December 1, 2004... Many mortgage brokers have not yet reached that "Day of Reckoning," the day the phone stops ringing because refinancings have dried up. A recent Mortgage Bankers Association economic forecast indicates that refinancings will make up 45% of a...

Ask the Experts: The nation's best sales people on the industry's hottest issues.
December 1, 2004... This Month's Question: "What are your personal and professional goals for 2005? Anthony Apodaca Outside Loan Officer, Tucson Mortgage Co., Tucson, Ariz. "Goals? I have none, that's also because I'm retired now. I do not go to...

Successful Examinations: The regulators are not out to get mortgage brokers, a former examiner said.(New York Association of Mortgage Brokers)
December 1, 2004... The Boy Scout motto of "Be Prepared" is the key to having a successful regulatory examination, a pair of experts told the New York Association of Mortgage Brokers annual convention in Melville, N.Y. Eilif J. Asabo, former staff member of...

Upcoming Sales and Marketing Conferences: BROKER: December 2004 to January 2005.(Calendar)
December 1, 2004... This calendar of events contains a number of key events worth noting: The annual Mortgage Technology Conference will be held in Miami at the end of January. December 10 Annual Awards Program Tennessee National Association of Mortgage...

Advertisers' Index.(Brief Article)(Illustration)
December 1, 2004... Aames Home Loan 1 American Brokers Conduit 37 American Home Bank Cover 4 Argent Mortgage Company 9, 18, 19 Bank of America 31 BNC...