Broker Magazine articles from October 2007

Broker Magazine archives from October 2007

Some Thoughts on the Crisis.
October 1, 2007... Back in January of this year, in this space, I wrote about the closings of Sebring Capital and OwnIt Mortgage Services. At that time I said, "We might be seeing the start of another wave of closings and consolidation in the nonprime mortgage...

Use Peer Groups For Business Planning.
October 1, 2007... An expert on the topic of strategic planning and family-run businesses says while most business owners find the process of creating a plan time consuming and difficult, it is an exercise they should undertake. Furthermore, they should use...

Turn Unhappy Clients Into Loyal Ones.(Brief article)
October 1, 2007... "The best practice for turning unhappy customers into loyal supporters is to catch dissatisfaction as early as possible. Encourage customer feedback. Listen to understand their perspective, identify what is really needed and address the need in...

Fixing Customer Service.
October 1, 2007... Customer satisfaction is stagnating according to the American Customer Satisfaction Index's newest survey. It found second-quarter customer approval levels up just 0.1% to 75.3%. This is up only one percentage point since 2006. Customer service...

Don't Text and Drive.
October 1, 2007... A Harris Interactive survey said that the vast majority of Americans, 89%, believe sending text messages or e-mails while driving is distracting, dangerous and should be outlawed. In fact, 91% of the respondents believe drivers distracted by...

Update.
October 1, 2007... In the September issue of Broker, the story "The Trouble With Leads" cited a law scheduled to go into effect on Aug. 1 in Minnesota that would have barred the sale of trigger leads. According to a website maintained by Wolters Kluwer, the...

Golf Teaches Success.(Brief article)
October 1, 2007... A survey of American women executives said golf teaches children the values needed to be successful in business, according to a survey conducted by HSBC Bank USA, New York. There are three key values: self-confidence, decision-making and...

Foreclosure Law Activity: Two states pass bills which affect the process.
October 1, 2007... COLORADO Improved State Bill Tracking A venture capital firm specializing in funding early-stage innovative Web-based businesses, eonBusiness, is participating as the lead investor in legislative database LgDb.com, a comprehensive and...

Brokers Neglect TV, Radio: Print remains the advertising medium of choice, while direct mail is third.
October 1, 2007... Television and radio advertising is the least-used medium among the four choices provided to respondents of the 2006 Mortgage Broker Survey. Only nine of the 59-company sample compiled for the Loan Broker Database said they use either radio...

Loan Brokerage Firms and Their Advertising Budgets.
October 1, 2007... Prod Vol. 06 Mkt Budget Direct Print TV/ Internet Organization Name Location (in millions) (in units) mail ads Radio ads Statewide Bancorp, Inc. Rancho Cucamonga, CA $626 $3,486,269 YES YES YES YES Apex...

The Future of Subprime: The product is taking a beating in the market. Yet there are some who think there is hope.
October 1, 2007... What is the future of subprime? That's a good question and one that is on the minds of many in the mortgage industry. The ongoing fallout from the implosion of the subprime mortgage marketplace has claimed many victims. Among the casualties are...

Consumer Advocates: The California Association of Mortgage Brokers discussed how it assists borrowers at its convention.
October 1, 2007... BRAD: Can the mortgage broker fill a role between consumer and the servicer and/or investor in the current turmoil in the mortgage market? JOHN: The problem we encounter is that we have to get the consumer's authority to interface with the...

Getting Started With FTHB Seminars: Mike Moffitt, an expert on working with first-time homebuyers, gives some advice for those looking to move into this market.(first time homebuyer)
October 1, 2007... The motto "doing well by doing good" can be exemplified by Michael Moffitt's experiences along the path least traveled by mortgage professionals: focusing originations on serving the nervous, often unqualified, first-time homebuyer. He is...

Dear Brian.
October 1, 2007... Industry expert Brian Sacks will be happy to answer your most pressing marketing questions each month in the Dear Brian column. Dear Brian, I recently returned from our annual family vacation at the beach and found that there were no...

Help Selling Reverses: There aze a number of firms which will teach mortgage brokers how to market these loans and other which provide them with technology and support.
October 1, 2007... Trust is one of the biggest points in selling a reverse mortgage, a recent Financial Freedom Senior Sentiment Survey found. Being an expert in a field just isn't enough. Professionals can't rely on their company's brand name or a personal...

Five Niche Seminars -- Made Simple!: Success needs more than just renting a room and speaking.
October 1, 2007... Would you be disappointed if you threw a party and nobody showed up? Some loan officers experience the same disappointment when marketing a seminar -- and nobody finds it interesting enough to show up. Here are some reasons why some...

Is FHA Really That Good?: The posters at www.mortgagegrapevine.com discuss how valuable the FHA program is for mortgage brokers.
October 1, 2007... MrKnuckles: People talk about FHA like it is the third book of the Bible. Is it worth getting set up for? Title closer: I have been doing FHA since 1981. Great program if it fits your loan limits in your state. Here in New York I do one...

Advertising Index.
October 1, 2007... 1st Metropolitan 35 Accidental Millionaire 10 Ameritime Mortgage Co. 49 Calculated Industries 48 Citi/InterFirst 11 Document Systems 3, 29 Equifirst 5 FAMB 12 First National Bank of AZ 51 ...

Upcoming Sales and Marketing Conferences.(Brief article)(Calendar)
October 1, 2007... This calendar of events contains a number of key events worth noting: The MBA annual convention, the industry's largest, will be held in Boston. BROKER: October to December 2007 October 2-4 Annual Conference New Jersey...