Broker Magazine articles from September 2005

Broker Magazine archives from September 2005

Cooling My Heels.
September 1, 2005... It is another hot, sticky summer day in New York as I sit and write this column. I have one of the longer commutes to our offices and one of the few things that made the New York subway ride bearable today was my combination fan and flashlight...

Prepare Now for Stamp Price Rise.
September 1, 2005... According to a spokesman from the U.S. Postal Service, while not definite, it is quite likely the price of a first-class stamp could increase by two cents in January, as part of a 5.4% increase in postage rates. The increase, the spokesman...

Maximizing Web Effectiveness.
September 1, 2005... In the view of at least one marketing and branding expert, entrepreneurs have lost sight of the fundamental marketing mission that a company's website serves. Allan Gorman, who founded the Montclair, N.J.-based firm Brandspa said, "As the...

When to Send a Press Release.
September 1, 2005... Sending a press release to a local newspaper is one of the cheapest forms of marketing for a mortgage broker. But, according to one expert, it just can't be fluff. The president of Westwind Communications, Plymouth, Mich., Scott Lorenz,...

Clarification.(Correction Notice)
September 1, 2005... Editor's Note: In the July issue of Broker, due to a mistake on our part, the incorrect version of following response to our Ask the Experts column was published erroneously. The following is the proper version that should have appeared to the...

Brokers & Builders, Building Business: Construction is hot all over the country and successful brokers know how to get that business.
September 1, 2005... In June, the U.S. Commerce Department reported that new home construction was on the upswing, on pace for an adjusted annual rate of over 2 million new units this year, up almost 10% from last year. While single-family homes took a slight dip...

Ask the Experts: The nation's best sales people on the industry's hottest issues.
September 1, 2005... This Month's Question: "How can brokers sell subprime products to their clients?" Jonathan Ortiz Manager Weichert Financial Services Morris Plains, N.J. "First of all we want to analyze the customer profile. Fannie Mae...

Cook County Crisis: Title firms warn they may not insure loans in parts of Illinois.
September 1, 2005... ILLINOIS Predatory database pilot law signed The governor of Illinois has signed into law a house bill, strongly opposed by the mortgage industry, to establish a predatory lending database pilot program in Cook County. Cook includes...

Alt-A: Past, Present, and Future: How originators can stay ahead of the curve in an ever-changing market.
September 1, 2005... One of the most significant changes the mortgage industry has experienced over the last 10 to 15 years has been the increasing gray area that has long separated traditional subprime and traditional "A" paper which has become known recently as...

Florida's Big Catch: Our experts at the Florida Association of Mortgage Brokers show ponder if a boom is sustainable.(Interview)
September 1, 2005... MARK: Let's talk about the hot Florida real estate market. Do you think these numbers are sustainable? For example, Fort Pierce and Port St. Lucie have seen 40% increases in median prices year-to-year, and that is with four hurricanes...

2004's Top Producers: High volumes during 2004 lead some of our volume leaders to reward themselves with some time off.
September 1, 2005... Having turned in a record year of outstanding mortgage sales, some of the nation's Top Originators in 2004 rewarded themselves in August by taking well-deserved vacations to exotic destinations. Many were off on dream tours of foreign that...

Top Producers at Mortgage Brokerage Firms.
September 1, 2005... ($ in Millions) (part 1 of 3) Rk Name '04 Vol. 1 Tom Lavallee $359 2 Jon Volpe $283 3 David L. Musk $251 4 David Shoaff ...

Top Women Also Take Summer Vacations.
September 1, 2005... For the first time since Broker began its survey of top individual mortgage brokers in its initial year of 1999, a pair of women made their way into Top Ten Origination positions in 2004. Top Woman Melissa Falter, is rated seventh with a...

New Options in Loan Processing: With the advent of cost-efficient offshore loan processing services, originators are wise to evaluate their options before maintaining the status quo.
September 1, 2005... What's the biggest concern in a mortgage originator's mind? Most likely it's how to increase revenues. While to some that may simply mean growing the number of closed loans, to others it means a lot more. Increasing revenues require a...

Blowing Its Horn: Subprime lending has come into its own, with some lenders even working on eliminating the credit grade distinctions in the product.
September 1, 2005... It was only a few years back when "subprime" was almost a dirty word many in the industry preferred not to be associated with. The negative connotation, widely associated with unfairness or predatory lending practices, still would prompt...

Builders and Preferred Lenders: The online community at www.mortgagegrapevine.com discusses how a broker can cope with builders who have arrangements with originators.
September 1, 2005... Accesscap: Will someone please point me to the law that states a home builder can not tell the buyer, if you use my preferred mortgage company (which, by the way, is its own separate entity, not a part of the home builder's company) that they...

Creating Effective Direct Mail: An aggressive piece is the one that generates the best response among consumers.
September 1, 2005... Direct mail is the most effective and cost effective way to generate new mortgage business there is. Marketing as we know it has changed dramatically over the past few years. Homeowners have more resources than ever before, they can research...

Chris Bauer on Ethics : Climate Control.
September 1, 2005... When we want to assess the potential effectiveness or efficiency of organizations, we frequently talk in terms of their culture or climate. This is no different when looking at ethics risk. The culture and climate in companies with reduced...

Practice, Practice, Practice: The Coach says sales people can learn a lesson about perfecting their craft from top-notch athletes.
September 1, 2005... Athletes make a good simile for professional selling. No matter what heights a world-class amateur or professional athlete attains, his or her life is filled with practice, practice and more practice. He or she will spend exponentially more...

Upcoming Sales and Marketing Conferences: BROKER: September 2005.(Calendar)
September 1, 2005... This calendar of events contains a number of key events worth noting: There will be state conventions in Oklahoma, Wisconsin, New York and New Jersey September 8-10 OriginationPro Mortgage School The Hershman Group Courtyard...

Advertisers' Index.
September 1, 2005... Aegis Home Equity 20 Aegis Mortgage 35 Aegis Mortgage Corporation 8 Allied Home Mortgage Capital Corp 69 Allied Mortgage ...