Broker Magazine articles from February 2005

Broker Magazine archives from February 2005

Exceeding Expectations.(Mortgage brokers)
February 1, 2005... The perception of the value that a mortgage broker provides in the loan origination by consumers has never been better. Proof of that came in the J.D. Power and Associates 2005 Home Mortgage Survey. Power said those who said they used a...

E-Mail Realities for Financial Marketers.
February 1, 2005... While many lenders believe e-mail marketing is a good thing, an expert on the topic says few are doing any e-mail marketing. "The fact is that e-mail marketing makes a lot of lenders uncomfortable," says Ray Parenteau, president of...

Survey Finds Customer Service is Key to Repeat Business.
February 1, 2005... In a survey conducted by Coldwell Banker Real Estate Corp., Parsippany, N.J., nine out of 10 respondents declared that great customer service is very or extremely important in deciding whether to give a service provider repeat business. ...

Career Choice Top 10.
February 1, 2005... Sales trainer Reg Gupton has come up with a list of 10 items for people to consider about their current choice of profession. Agreeing with some, most or all of them might be a sign of being in the wrong career. 1. You avoid talking about...

Getting Key Stakeholders.(Brief Article)
February 1, 2005... Business performance expert Pamela S. Harper notes that every company faces challenges and/or obstacles that may hinder its chances for success. When this happens, company leaders must implement plans to help get the business back on track. ...

Improving Performance.(Brief Article)
February 1, 2005... Dr. Leif Smith, a consultant who works with both businesses and sports teams, has come up with some tips that he says all top achievers apply in some form on a weekly basis. The result will be dramatically improved performance, he said. ...

Beware of Fake IRS Letters.(Internal Revenue Service)(Brief Article)
February 1, 2005... The National Association of Tax Professionals is warning that consumers are being victimized by false correspondence sent by identity theft artists. The letters purport to be from the Internal Revenue Service. For example, fraudsters have...

2004 Top Sales Cliches.
February 1, 2005... The president of Peak Communications Performance, Joseph Sommerville, has a complaint about sales people who market to consumers using a script. Most scripts, he declared, have "become cliches, phrases repeated so often, that they make...

Prepare to Sell.(Brief Article)
February 1, 2005... Everyone talks about "winterizing" a home. But if you're planning to sell your house, "springifying" it now may be a lot more important, according to ForSaleByOwner.com, a resource for independent homebuyers and sellers. Most sellers know...

Branching Out: Carteret has the most branches, Mortgage Master gets the most from each.(Mortgage banks)
February 1, 2005... While it is No. 3 in volume, Carteret Mortgage Corp., Centerville, Va., is the nation's top mortgage broker by number of branches operated. According to the Loan Broker Database, the results of the 2003 Annual Survey of Mortgage Brokers...

Loan Brokerages Ranked by # of Branches.(Mortgage banks)
February 1, 2005... (Dollars in Millions) (part 1 of 2) Rk Organization Name Location 1 Carteret Mortgage Corporation Centerville, VA 2 Allied Home Mortgage Capital Corp. Houston, TX...

All About ARMs: As interest rates rise, interest in adjustable-rate mortgage loans rises. There are many variations of these variable-rate loans.(adjustable-rate mortgages)
February 1, 2005... A guided tour into the universe of adjustable-rate mortgage loans may not be as exciting as an actual bus tour around New York City, one of the most overwhelming metropolitan areas in the world, but it has the potential to turn into an equally...

An ARMs Historic Perspective.(adjustable rate mortgage )
February 1, 2005... When comparing the mortgage opportunities of 2004 with those of 10 years ago, based on interest rates, programs and credit scores, "the change is dramatic," according to a mini-study conducted by Bill McNamee, president of Pinnacle Home...

A Shot in the "ARM": There are also commercial adjustable-rate mortgage products designed for small business borrowers.
February 1, 2005... This year is shaping up to be a challenging year for mortgage brokers. "As the market cools down, the competition is heating up, and the mortgage industry is rolling up its sleeves," according to National Mortgage News, a sister publication to...

Loan Officers Want to Get Paid: Florida suit laments no minimum wage or OT.(Global Executive Mortgage Inc.; overtime)
February 1, 2005... FLORIDA Minimum Wage Suit Filed A trio of loan officers have filed a civil complaint against Global Executive Mortgage, Inc. in U.S. District Court for the Middle District of Florida here for failure to pay minimum wage and overtime...

What's Hot, And What's Not: A cautious pragmatism was on display as we talked to lenders about the outlook for this year at the Mortgage Bankers Association's annual convention in San Francisco.(Panel Discussion)
February 1, 2005... BRAD: Rates have not risen as fast during 2004 as some might have expected. In fact, as we conduct this session (in October), the 10-year Treasury is actually under 4%. How do you see the market going forward? JUDY: If I could call that, I...

Perk Up Your Voice Mail: Is your incoming message pathetic? A marketing expert provides tips on how to improve the message, with the result being improved sales.
February 1, 2005... How do you greet your callers when they listen to your voice mail? Does this sound familiar? "I'm either on my phone or away from my desk, please leave a message." No kidding? Or how about this one: "It's Monday and I'll be in...

Virtual Assistants A Reality: Now you can outsource an assistant's job to a remote provider who will handle specialized tasks for you.
February 1, 2005... Most, if not all mortgage brokers, are sales people first and foremost. Many lack the time or skills to do the other tasks involved with running a successful shop, including marketing. Where the shop is large enough, the broker or loan...

Words Equal Sales: Is your language blocking your sales success? Use the "three A's" to turn your career around.
February 1, 2005... "I'm burned out," "I've lost my drive," "I'm not interested." These are words and images that sales pros have used to describe their falling motivation that accompanied their failing numbers. A sales pro in financial services, Chris had lost...

Ask the Experts: The nation's best sales people on the industry's hottest issues.
February 1, 2005... This Month's Question: "What type of ARMs are popular with your customers and why?" Jim Williams President First Westerville Mortgage Co. Columbus, Ohio. "The most popular product with our customers today is the...

2005 and the Mortgage Broker: A commentary on what the coming year holds for the industry.
February 1, 2005... We all knew that the record-low mortgage rates we experienced were a phenomenon that could not continue forever, and for those hardy individuals who have survived the ever-changing interest rate environment over the years, a new direction had...

Recruiting Community LOs: Arlington Mortgage Group has created a training program to educate potential loan officers, while at the same time helping Detroit reduce unemployment.
February 1, 2005... In response to record unemployment in the city and a public call for small businesses to play a greater role in urban revitalization, Detroit-based Arlington Mortgage Group has created Arlington Mortgage University (AMU), a free job training...

Getting Leads from Newbie Realtors: A new broker asks www.mortgagegrapevine.com for advice about marketing to new real estate brokers.
February 1, 2005... Yosshimura: We all talk about introducing yourselves to Realtors, and making contacts with them to get their referral business. Great idea, except if you put yourself in their shoes and you just got your mortgage broker license. It will be hard...

Creating Affordable Housing: Neighborhood Housing Services is looking to meet the challenge of providing housing in high cost areas.
February 1, 2005... Developing extensive business partnerships, complex financing solutions and homeownership education efforts are the best strategies to produce affordable housing in high-cost metropolitan areas such as New York in the coming year, according to...

Upcoming Sales and Marketing Conferences: BROKER: February to March 2005.(Calendar)
February 1, 2005... This calendar of events contains a number of key events worth noting: The annual Northeast Regional Conference will be held in Atlantic City. February 21-23 Loan Officer University Mortgage Bankers Association of New Jersey ...

Advertisers' Index.
February 1, 2005... American Home Bank Cover 2 Argent Mortgage Company 32,33 BNC Mortgage Inc. 14,15 Calculated Industries 8 Cloudbreak 11 Citimortgage ...

Still Waiting: The industry is on hold until a decision is reached in the Oakland appeal.
February 1, 2005... The California Supreme Court's pending verdict in American Financial Services Association v. the City of Oakland was creating so much concern at press time last month that some lenders were said to be refraining from doing business in the...