recruiting: SUCCESSFUL RECRUITING THROUGH ACTIVE RAIN! THANK YOU ACTIVE RAIN! - 06/21/11 10:58 AM
I am closing my 34th deal next week from AR. These people left me and went back to their lender for life. Their lender for life screwed them with a rate of 7.5% when the clients had excellent credit and income. Seems the lender was a little too comfortable with their relationship. They came back and we're all one big, happy family. We're set for close here soon.
What I wasn't aware was that I was about to receive even greater and longer term profits. Just yesterday I recevied a new branch application. What does this mean in clear english? Plain and … (12 comments)
|
recruiting: Active Rain is a Perfect Recruiting Tool - 10/21/08 10:52 PM
OK....So my posts have been political lately. The truth of the matter is that I'll be happy when these stupid elections are done. They really get my dander up. I hate the welfare mentality. I hate local government wanting to grow and promising no more taxes, but alas....I digress.
I am closing my 14th deal next week from AR. These people left me and went back to their lender for life. Their lender for life screwed them with a rate of 7.5% when the clients had excellent credit and income. Seems the lender was a little too comfortable with their relationship. … (6 comments)
|
recruiting: Wachovia is shutting down there wholesale!!!!! What's next for W? - 07/21/08 10:20 PM
Wachovia says that July 25th....THEY'RE DONE. They're not done with retail, but they say that they are done with the wholesale. I know that their RETAIL reps have been out looking at other opportunities for a while. I wasn't aware that the WHOLESALE REPS are now out at as well. In fairness, I'm not sure that their wholesale conduit could support paying their reps as there just isn't that much business being brokered out. It will be most interesting to see if the retail loans fall to the wayside or if W actually invests in their realtors. Having said that....only time … (12 comments)
|
recruiting: Jealousy and Anger....the sheer way to implode your business. - 07/16/08 05:50 PM
I have a lot of great competitors in my area. My area that I recruit for is Minnesota, Wisconsin and Illinois. Most of my competitors THAT I KNOW are fun, honest and hard working. There are still little rivalries between our companies, but nothing much pointing myself against them or vice versus. The market is such that most, not all, of the dead weight and sleazy loan officers and mortgage companies have been flushed away.
I have seen one or two of my competitors get to a point that they're obsessed with others in the market. I am the first to … (7 comments)
|
recruiting: Had a bad day? Wachovia is having a bad month! - 04/29/08 09:36 PM
On April 14 the bank announced it had lost $350 million or $0.20 per share during the first quarter of 2008. The losses, which were much higher than had been expected, were due primarily, or course, to problems in the mortgage markets. T
hen this past Friday Wachovia got hit with a double whammy. In the morning it was announced that Wachovia Corp. had agreed to a settlement with The Office of the Comptroller of the Currency (OCC) of as much a $144 million to end an 18 month investigation into its role in a telemarketing scheme that allegedly affected between 350,000 … (7 comments)
|
recruiting: Cherry Creek Grows Again in 2007 - 01/11/08 10:43 AM
Not by much at all, but not many companies in North America can say that they actually grew in 2007. We did! Our profits were fine and our fundings grew. But most importantly we grew significant market share nationally. While other companies closed their doors, merged or just struggled to stay open, it is now official....We grew in a year that we weren't supposed to.
Of course, the sub-prime matter doesn't make it easy for us or for a myriad of other lenders nationally. There is a lot of fallout because of that. The demise of a lot of top wholesalers … (0 comments)
|
recruiting: Planning to Win - As a mortgage lender - 08/08/07 08:40 AM
I recently wrote a post and shared my life plan for others. I received a lot of comments. I do coach other people nationally in and outside the industry. Living to dominate! Living Life on purpose. Humbly I really feel that it's an awesome plan, but I must say that I never would have done that plan had I not come to my company at Cherry Creek Mortgage.
Cherry Creek Mortgage is a top retail lender in the United States. Plus, excuse the vernacular, but we're not tied to all the BS that is going on with lenders at Wall Street because … (4 comments)
|
recruiting: Death of Countrywide? I hope not..... - 08/05/07 11:00 PM
This week has been brutal to the mortgage industry. Not only have we seen jumbo rates climb 1.125%, but we've seen the death of American Home Mortgaege. American Home was a great and veritable competitor. I've been one who never wishes harm to my competitors. As long as we're all playing fair and by the rules, I have no issues with a good competitor. Fraud and crooks are intolerable. However, good companies need to be here. Not only for the competition, but the who concept of iron sharpening iron.....
Literally....as I sign on to look at my daily blogs.....I read this blog....The … (15 comments)
|
recruiting: Sub Prime & Alt - A Fallout....Worse before it gets better - REALTORS BEWARE!!!! - 08/01/07 09:26 PM
The subprime market continues to fall. Although there are a ton of mortgage companies that offer sub-prime and Alt-A products...they all pretty much roll up to the same 4-6 wall street firms. The problem is when Wall Street decides that it won't accept any more of these loans, then the lender who has that loan that needs to be sold has a major problem. The loan originator and the realtor have a big problem because their homebuyer has a horrendous problem.
The American Home Mortgage fiasco is just the latest of the problem companies. I'm concerned that even though mortgage lenders … (17 comments)
|
recruiting: The Saga Continues - American Home Mortgage is to lay off thousands - 08/01/07 09:02 PM
American Home Mortgage is laying off thousands of employees according to Originator Times. Originator Times continues....
by saying....With the demise of the mortgage giant American Home Mortgage looming, the company admitted yesterday that is was unable to fund approximately $800 million in loans promised to borrowers Monday and Tuesday. Loans that were not funded included retail loans and loans by their wholesale division American Brokers Conduit. The Originator Times first broke the news that American Home was not funding new loans on Monday. Late Tuesday, the company admitted that it was unable to fund loans on Monday and Tuesday of this week. … (4 comments)
|
recruiting: American Home Mortgage - Involutary exit of real estate lending?????? - 07/31/07 10:37 PM
MortgageDaily.com says that American Home Mortgage is facing liquidation. Newsday.com says that AHM admits insolvency.
Newsday.com says "In a move that sent shockwaves through the financial markets and left investors millions of dollars poorer, Melville-based American Home Mortgage Investment Corp. announced yesterday that it lacked the money to pay its lenders or the credit lines to pay its borrowers.It was the largest mortgage bank to face bankruptcy in a year of bad news for the mortgage industry, and the news that problems were not confined to high-risk lenders helped turn an early stock rally into a 147-point drop for the Dow … (12 comments)
|
recruiting: Cherry Creek Mortgage - 06/07/07 10:28 AM
While I really enjoy blogging and talking about everything under the sun, part of the reason that I blog is obviously for business. So....for all you loan officers who are interested in looking into other companies, I have 2 parts to this blog. The second part is listed below....This is our company's mission statement, if you will. The first part of the reason that people move to and stay at our company is the culture. We spend a lot of time investing and being invested into people who want to grow personally and professionally. Most importantly...we have a plan which involves growing … (4 comments)
|
;)
;)
;)
