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The Laws of Origination.(Brief Article)(Buyers Guide)

Broker Magazine

| August 01, 2002 | COPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The past four years that I have been editing Broker and its predecessor, Origination News Magazine, I've made it a point to check out at least one of the sales sessions at each of the annual conventions of the National Association of Mortgage Brokers.

This year's presenters in Cleveland included origination giants like Greg Frost and Barry Habib, but since I've already featured both of those gentlemen in this space, I decided to check out the presentation of Tim Braheem.

At $174 million in production last year (that's ten times the volume he did in 1995), Braheem, president of First Rate Financial Group, Inc. of California, would seem to be knocking at the door of the clubhouse where the Frosts and Habibs and Jeff Lakes play.

And with $78 million on the books year-to-date, 2002 isn't shaping up as a shabby year for him, either.

Here's a brief walk-through of the five laws of loan origination he presented at NAMB:

1.) Presentation Is Everything: Work on your presentation (Braheem tapes himself and then listens and analyzes while he's in his car- especially with failed leads). You only need spend 20 minutes with a client, because by then you will have sold yourself to him (or not). Doubling volume means spending less time with each client.

2.) The Tao of Databasing: What started with a shoebox and index cards now drives all relationships. Your client is interested in gardening? E-mail her information on gardening you've come across (but remember your copyright laws!) Ask your clients to rate their financial planner. If she rates high, ...

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Source: HighBeam Research, The Laws of Origination.(Brief Article)(Buyers Guide)

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