Broker Magazine articles from June 2002

Broker Magazine archives from June 2002

The Broker's Universe.(new online content for Broker Magazine)(Brief Article)
June 1, 2002... With this issue of Broker, something has changed, and for the better. Our Internet address is changing and our online content is increasing exponentially. The new address is www.brokeruniverse.com, and the new site is full of stuff that...

Tricks of the trade show.(Brief Article)
June 1, 2002... Karen Susman, a trainer and coach who says she loves trade shows, has provided a number of helpful tips for attendees to maximize their activities. 1. Have a plan. List who you want to meet and why. Study the exhibit hall layout so you...

Avoid Meaningless Words on Cold Calls.(Brief Article)
June 1, 2002... Art Sobczak, president, Business By Phone Inc., Omaha, has some words of wisdom about words. On the phone you have about 10 seconds or less to capture a listener's attention, break their preoccupation with whatever they were doing when you...

Hire for Attitude, Train for Skill.(Brief Article)
June 1, 2002... The president of Great Lakes Consulting Group, Barbara Bartlein, declared, Attitude is everything to personal and professional success. Attitude affects our beliefs and our behavior. It impacts teamwork, customer relations, motivation and...

Building Business: A couple of ideas on how brokers can add customers.(mortgage brokers)(Brief Article)
June 1, 2002... Just a couple of thoughts that mortgage brokers should consider when looking to build up business. The first comes from a press release from an investment advisory firm, Strong Capital Management of Milwaukee. Strong Capital notes that...

The Modification Mystery: The GSEs' new modification mortgage programs could take refi business out of your pocket.(government-sponsored enterprises)(Brief Article)
June 1, 2002... It could be one of the biggest threats to the survival of the mortgage broker industry, or it could be just a minor nuisance, costing the broker some market share. It is the modifiable mortgage product that is being offered by both Fannie Mae...

No More Refi Booms for Brokers?(Foundation Marketing Turn on Your)(Million Dollar Brain seminar)(Brief Article)(Panel Discussion)
June 1, 2002... The following was part of a roundtable discussion held at the Foundation Marketing Turn On Your Million Dollar Brain seminar in San Antonio. More excerpts were printed in the April/May 2002 issue of Broker. Speaking are: Todd White,...

Subprime: What Needs to Happen: Our panel at the National Home Equity Mortgage Association Convention in Boca Raton addresses abuses and doing business with brokers.(Panel Discussion)
June 1, 2002... MARK: How do you feel about Secretary Martinez' recent pronouncements that's he going to do a thorough overhaul of RESPA with consumer priorities in mind, and the more recent one that he's not going to require any broker-specific disclosures?...

The Need For Better Brokers.(Brief Article)(Panel Discussion)
June 1, 2002... RICH: It's not difficult to become a broker. If you have a savvy (loan offier) that understands the process to some manner, they feel they can become a broker and run their own business, without understanding the whole process. LEW: The...

Bringing More Customers In: It takes bait, marketing knowhow and a willing target to be successful.
June 1, 2002... The chief strategy officer and chairman of Domania, Steven Kropper, compared lead generation to being like the Pied Piper. To bring the customer in, the originator has to use something for bait, for example, information. The originator...

Premium Show Provides Latest Ideas for Branding.(premium incentives for mortgage brokers)(Brief Article)
June 1, 2002... Looking for a unique way to have your name stick in your customer's memories - try Silly Putty. The maker of the product, Binney & Smith, Easton, Pa., will print your company's name on the outside of the Silly Putty egg, as well as print a...

Warning to Mortgage Brokers: Are you making these colossal mistakes in your business?(advertising mistakes to avoid)
June 1, 2002... As a mortgage broker, company owner and marketing expert responsible for generating large amounts of loan customers for over 15 years, I've discovered that most mortgage professionals make the same mistakes in their advertising. Here are the...

At the Top Of the Ladder.(2001)(Statistical Data Included)
June 1, 2002... 2001 was the best year ever for originations. But even with the volumes at an all-time high, one leading broker is making more time for the other things in life. Top producer Jeff Lake says, 2001 was a gift from God. As a professional...

Age No Barrier for Top Woman Producer.(Janel A. Jordan)(Brief Article)(Statistical Data Included)
June 1, 2002... The top woman mortgage originator on the list, Janel A. Jordan, has made a fast climb in the industry. At age 27, she has made it to the top ranks of her profession in just five years. She went to work as a receptionist, answering phones in...

Top Producers for 2001.(mortgage brokers)(Brief Article)(Statistical Data Included)(Illustration)
June 1, 2002... (Dollars in Millions) (part 1 of 2) Production Rank Producer Volume 1 Jeff Lake $307 2 Jon Volpe $285 3 Tom Digan...

Ask the Experts: The nation's best sales people on the industry's hottest issues.(best mortgage originators)(Brief Article)
June 1, 2002... This month's question: Who is the best mortgage originator you have ever known and why? Rob Reid, President, RMR Princeton Capital Los Gatos, CA It is a tough one to answer, because it all depends on how you want to measure it....

Advertisers' Index.
June 1, 2002... AEGIS Mortgage Corp 39 Aames Home Loans Cover 3 Advantage Investors Mortgage 7 Allied Mortgage Capital 28-29 Ameriquest Mortgage 1 Bank One Home Loan 37...

BEST IDEAS: Top loan brokers discuss the tools they use in their business.(Brief Article)
June 1, 2002... This month's question: What is your best? David Devlin Title: Loan Officer Company: Key Mortgage Corporation Location: San Rafael, CA Response: Much of my referral business comes from my relationships with certified...

Debating Compensation: Our online community at www.mortgagegrapevine.com responds to a new broker's question: What do you charge and what is the norm?(Brief Article)
June 1, 2002... Floridahomeloan: I am kind of a new broker and only know what and how people are charging fees within my office. What is everyone else doing? Some of the people I work with charge 1% Origination, 1% Broker and 1% YSP on every loan. What is the...

States Address Abuses: The industry reluctantly supports the moves.(Connecticut, Florida, Minnesota)(Brief Article)
June 1, 2002... CONNECTICUT Finance Charge Definition Change Connecticut Governor John G. Rowland has signed a bill redefining the definition of prepaid finance charges in the state. Norman Roos, the general counsel of the Connecticut...

Starting a Training Program: Banknorth teaches its employees mortgage production.(Banknorth Mortgage Group)(Brief Article)
June 1, 2002... In an effort to enhance its mortgage lending services through New England and upstate New York, Portland, Maine-based Banknorth Mortgage Group here has launched a mortgage training program for its employees. The company's new Certified...

Upcoming Sales and Marketing Conferences.
June 1, 2002... BROKER: June to July 2002 June 12 Ethics & Fair Lending Class Kansas Association of Mortgage Brokers Holiday Inn Hotel & Suites OP West Overland Park, KS (913) 492-5262 Fax: (913) 312-2989 The ethics portion...

Planning Ahead: When the rates go up, will your business go down?(management tips for mortgage brokers, U.S.)
June 1, 2002... Right now, loan officers throughout the country are closing their guts out. Low rates, increased home values, refinancing of high levels of credit card debt have kept us busy. We consider ourselves lucky to only have 55 phone messages left to...

Hot: Possible Total Cost Savings for Borrowers.(of mortgage loans, U.S.)(Brief Article)(Illustration)(Statistical Data Included)
June 1, 2002... # * Title: $50 * Appraisal: $50 * Origination Fee: $50 * Survey: $25 * Home Inspection: $35 * Subtotal: $210 Other * The value of free...

Lenders Can Eliminate YSP Abuse: Give the credit to the borrower instead of the broker.(Yield Spread Premiums)(Brief Article)(Column)
June 1, 2002... After watching one episode after another of that soapy drama called Yield Spread Premiums Today, I am continually amazed at the ineptitude of the mortgage lending industry. They are the only group involved in this controversy whose...