Broker Magazine articles from September 2006

Broker Magazine archives from September 2006

Hard Sell Equals No Sale.
September 1, 2006... This is a lesson on how not to make a sale. Many sales people believe that using the hard-sell approach will win the day for them, especially in a competitive situation. The story starts rather simply. My wife and I own a two-family house...

Motivating With Value, Not Price.
September 1, 2006... Sales trainer Barry Maher writes that while at most business people expect the "real selling" to be done by the sales professionals, he will never forget the day a secretary outsold a team of sales veterans. "The company sold consulting...

Gain Referrals by Hosting Events.
September 1, 2006... The founder and chairman of the referral networking organization BNI suggests hosting strategic alliance events as a way of creating new business relationships. Ivan Misner said, "Bringing people together who'll be able to create a...

Using Feng Shui to Help Sell a Condo.(Brief article)
September 1, 2006... The real estate market is slowing down and some buyers are stuck with their old condo. Carol Olmstead, who calls herself the Feng Shui maven, has 10 cheap and easy tips to sell a condo. According to Wikipedia, Feng Shui is the Chinese...

Time to Reexamine Business Cash Flow.
September 1, 2006... KPR Funding Solutions LLC, a firm that helps businesses deal with their cash flow issues, said most businesses will either gain or lose profits during the final months of the year and management needs to be aware of cash-flow strengths and...

What to Consider Before A Small Business.
September 1, 2006... The dream of many just starting out in the mortgage industry is to own their own originations shop. But there are many challenges to owning a small business, said Mike Whitten, director of dealer development for W.S. Badcock Corp., a home...

Conversing With Others.(Brief article)
September 1, 2006... Olivia Fox Cabane, the executive director of Spitfire Communications, is an expert on networking. Recently, she came out with a list of 10 tips for people to excel at making conversation. * Put yourself in their shoes and try to see things...

Gather Data to Implement Ethics Improvements.
September 1, 2006... Ethics expert Christopher Bauer said that while many have a strong interest in making the changes their company needs to improve ethical behavior, before anything can go forward, a measuring process needs to take place. This is to find out what...

Where Minorities Are a Majority.
September 1, 2006... Steve Schneider, immediate past president of the Florida Association of Mortgage Brokers and president and CEO of Abacus Lending Group Inc., a brokerage company in Miami, believes it is important to recruit and train an ethnically diverse work...

Insurer Wins Katrina Suit: The case could have an impact on mortgage lending.
September 1, 2006... CALIFORNIA Shakedown Suit Law Upheld The California Court of Appeals for the Second District recently held in Pfizer, Inc. v. Superior Court that Proposition 64 had the effect of "dramatically restricting" consumer protection measures...

Reverse Mortgage Demand Growing: Mortgage brokers can assist an aging American population to ease their financial woes by learning about this product.
September 1, 2006... The recent spotlight on the pension system, capped by the signing by President Bush of a reform bill, could mean that reverse mortgage loans will see even greater demand. Aging homeowners might need to take advantage of equity in their homes to...

Going for Seconds: Navigating home-equity and second mortgage product options in a tough marketplace requires more creativity and knowledge of financial instruments.
September 1, 2006... Successful brokers, some experts say, see themselves in part as financial planners and partners to attorneys and other parties whose services help homeowners make an efficient use of the wealth imbedded in real estate property prior and after...

Top Nonconforming Brokers: Windsor Capital was the top originator in 2005.
September 1, 2006... Windsor Capital Mortgage of San Diego was the mortgage broker that originated the largest amount of nonconforming mortgage loans, according to the 2005 Survey of Mortgage Brokers, conducted by Broker and its data gathering affiliate. The...

Loan Brokers and their Nonconforming Loan Vol.(Statistical table)
September 1, 2006... (Dollars in Millions) Organization Name Location '05NonC Windsor Capital Mortgage San Diego, CA $2,478 Ace Mortgage Funding, Inc. ...

Do You Make These Advertising Mistakes?: Seven common errors seen in image-oriented marketing.
September 1, 2006... Let's say a half-page ad in your local real estate magazine costs $500. The money you spend for an "image-type ad" vs. a "consumer-direct marketing ad" is exactly the same, right? Which type of ad is better? Image ads are useful only if you...

Fireworks In Philly: The National Association of Mortgage Brokers celebrated several triumphs, but there is still work to be done.(Discussion)
September 1, 2006... MARK F.: I thought we could start out with Jim (Nabors) discussing what NAMB accomplished in the past year and then Harry could discuss what the agenda is for the coming year. JIM N.: I think we had a lot of good things happen, both inside...

Attorney Wants the GFE: A member of the www.mortgagegrapevine.com community asks how to deal with this situation.(good faith estimate)
September 1, 2006... Coffee Is 4 Closers: Let me know what you think about this. A friend of mine and his wife are buying a new place but we had been out of touch for a few years. He's selling his home and buying a new house but some idiot friend of his family's...

NAMB Convention 2006 News Roundup: Here are some of the highlights of the National Association of Mortgage Brokers Annual Convention.
September 1, 2006... The National Association of Mortgage Brokers put on its annual convention in Philadelphia, the city where the Declaration of Independence was written. As part of Broker's efforts to keep mortgage originators updated with the latest news that...

Dear Brian: Industry expert Brian Sacks will be happy to answer your most pressing marketing questions each month in the Dear Brian column.
September 1, 2006... Dear Brian, I have been originating for the past five years and things have started to slow down for me recently. One of the loan officers in my office who seems to be doing really well gets a lot of business from referrals. What do you...

The Root of a Lead: Seth Goldstein and Lew Ranieri have teamed up to create a marketplace where leads can be traded efficiently.
September 1, 2006... For many mortgage originators, the purchasing of leads is a cornerstone of their business. These lists feed their direct marketing machines with names by the hundreds. Yet if a mere handful of names converts to an application, the buyer...

The Broker Loan Guide.(Statistical table)
September 1, 2006... Residential Decision One Program Name Core Portfolio Plus Alt-A Min Credit Score 520 (580 to get 100% CLTV) 580 620 Max LTV/CLTV 90%/100% 100%/100%...

Upcoming Sales and Marketing Conferences.(Calendar)
September 1, 2006... BROKER: September to October 2006 This calendar of events contains a number of key events worth noting: State conventions are taking place in Sept. and Oct. in CO, NY, TX, MO, NJ, IL and OR September 7-8 Convention and Trade Show...

Advertisers' Index.
September 1, 2006... Aegis Home Equity 76 Aegis Mortgage Corp 39 AMC 8 American Brokers Conduit Cover 2 Argent 18, 19, 20, 21, 22, 23 Calculated Industries ...