One of the most frequent questions I get asked from loan officers is, "How can I go out on my own and start my own mortgage company?" Often times, the person is sick and tired of low-commissions, office politics, too restrictive a time-schedule, etc. There are hundreds of reasons why they want to get out.They see the money other loan officers are making, and wonder why they aren't making that kind of money too? After all, they are doing the...more
When I was a branch manager, there were always certain traits and skills I looked for before deciding to hire someone. After years of experience, and learning things the hard way, I know what it takes to be successful. Not everyone is cut out to be a loan officer. The mortgage business is like no other, and it takes a certain type of person to be successful in this industry. Here are some of the top traits and skills I believe every loan...more
What sets one loan officer apart from another? And how do some people become "top producers" in their office, while others slowly squeak by? Surely, we all have the same amount of time, resources, and intelligence (debatable?!) available to us. So why do some loan officers fail, while others succeed? Here are some points to remember which will help ensure your success Take control. Stay on top of things and be sure monitor your loans as they progress on their way to the closing table. Always be aware of what stage a file is in during process. Don't trust anyone else with your commission check. Stay aware of any problems that arise, and work with your processor to fix them. If you can help speed things up, please dobut not at the expense of making new sales! In my office, Nancy and I have a communications system in place (namely, my mortgage closing system). I religiously write down every detail of a file and go far beyond just the 1003. Questions I ask include: "When are your taxes due?" (Useful for estimating accurate escrows). "Will you both be available to sign closing documents in the next 30 days?" (Useful for scheduling purposes, I want to know ahead of time if...more
Converting accounts receivable into cash is a critical process in the development of a healthy cash flow. While booking a receivable is accomplished by a simple accounting transaction, the process of maintaining and collecting payments from your customers requires a steadfast commitment to a systematic process of Accounts Receivable Management. ...more
To survive - to hang in there - to keep your head while all around you others are losing theirs - to stay in play - is a critical skill of leaders. Let's face it - even the most astute, successful person will suffer setbacks, and surviving and overcoming those setbacks is the true measure of a leader.To some, survival sounds like a skill for a...more
Many supervisors, managers and team leaders bemoan the fact that their team is not totally engaged with what he or she is trying to achieve. Is it poor communication on the boss's part? Lack of direction? Lack or little motivation from the team members?A recent survey by the Corporate Leadership Council reported that from a study of 50,000 employees worldwide, only 11% reported that they felt fully engaged in their current work, 76% felt neither engaged nor disengaged and 13% felt fully disengaged.Where do your team members stand?* Fully engaged?* Neither engaged nor disengaged?* Disengaged?Before you answer that, or perhaps start putting the names of some of your team members into the three categories, it is worthwhile revisiting the definition of the word "engagement".Engagement:1. The act of engaging, pledging, enlisting, occupying, or entering into contest.2. The state of being engaged, pledged or occupied; specifically, a pledge to take some one as husband or wife.3. That which engages; engrossing occupation; employment of the attention; obligation by pledge, promise, or contract an enterprise embarked in.I believe we can gain some ideas about engaging our teams by taking a...more
Author: Esa Jemis Are you in the market to purchase satellite TV for your PC? Whether you have just heard about this great service that many people are becoming attached to and leaving there present cable service I have listed some valuable tips on...more
I hate to say it but simply paying your bills on time is not good enough anymore. It used to be that all you had to do to have good credit was make sure you paid all your bills on time. Today, this is so far from the truth it isn't funny.Now days,...more
The vast red and blue oceans of the marketing world tsunamied into our awareness and vocabulary a few years ago, when two INSEAD professors, W.Chan Kim and Rene Mauborgne, claimed that competition can be rendered irrelevant.Their book, Blue Ocean...more
At any given point you can find groups of economists, known as bears, predicting doom and gloom and herds of others, called bulls, pointing to stock market highs as an indication of brighter days ahead. With oil prices predicted to hit $110/barrel by...more
(c) Gerald Romine - All Rights reserved - www.kickassrealestate.com Today I am going to respond to anl email I received because I know many people are in a similar position. Although the email is real, I've changed the author's name to protect their...more
(c) Gerald Romine - All Rights reserved - http://www.kickassrealestate.com A frequent question I am asked is:"How do I find deals in a hot real estate market?"Actually, there are several ways to find real estate deals in a hot market. The answer...more