officer: Countrywide Acquired By Bank Of America
- 01/11/08 07:54 AM
In what will probably be the biggest merger of the year in the mortgage industry, Bank of America has purchased Countrywide Financial Co. at the tune of $4 billion. I have blogged about the various articles that have been released today about this acquisition in my Loan Officer Tips blog. I would love to hear your comments on this since it will be one of the major factors in the overall economy throughout the year. Here is a direct link: www.LOTrainer.com I look forward to hearing from you! … (8 comments)
officer: Update MY Secondary Blog
- 01/09/08 01:33 PM
I wanted to briefly let you all know that I have updated my Loan Officer Sales and Marketing Tips blog. I went a little off topic in the past post with the concept of The 3 F's of Sales, but I am back on track with the Pre-Qualification 2.0 Series with today's post! Also, I will be making this series into a mini-book for Loan Officers. If you would like to get a copy emailed to you, feel free to either leave a comment, or shoot me a quick email! Here is the Direct Link: www.LOTrainer.com I hope everyone is having a great 2008 … (3 comments)
officer: New Blog Started
- 01/08/08 02:44 AM
Hi Everyone! I wanted to give you all a quick update on my blogging world. Even though I love the AR community, I was asked by a couple of people within the industry to start a secondary blog about Loan Officer Training. So, I have started the Loan Officer Marketing and Sales Tips blog. If that link doesn't work, you can try www.LOTrainer.com. I look forward to all of your comments and ideas, and I will update you all when I update that blog (Typically Monday, Wednesday, and Thursday). I hope everyone is having a fantastic beginning to 2008! … (2 comments)
officer: Getting Into Home Improvements with Your Client
- 12/26/07 03:19 PM
Over the past couple of years, equity has been extremely accessible to our clients. Times in our industry are changing with regard to guidelines and lending ability. However, that shouldn't distract your from creating a relationship with your refinance clientele. I have touched on the refinance with debt consolidation clients in my previous post, and I would like to touch on the refinance with Home Improvements clientele as well for this post. These clients are just like any other refinance client where they are looking for the loan program that fits their needs and overall goals. They might superficially want the best … (0 comments)
officer: Questions For A Client: Refinance With Debt Consolidation
- 12/20/07 10:07 AM
If you haven't read "Phase 1: Your First Contact With A Client" then please feel free to do so prior to reading this post which is an extension of the first contact.I briefly mentioned that the first contact with your client should be a relationship building experience. You should be getting to know your client, and your client should be getting to understand that you care about him/her.With that being said, we have to remember that relationships aren't built on standardized questions from a blank paper (or Calyx Point 1003). Relationships and trust between two individuals are built with the sharing … (0 comments)
officer: Phase 1: First Contact with Your Client
- 12/14/07 11:05 AM
Whether your client has called in, submitted something on the internet in the form of a paper lead, or is a referral they all want to know two things: rate and payment. Right? It's our job in the mortgage banking and loan origination industry to shift our client's focus from rate to service and benefit, and it all starts with the first contact. How many of your battle with your client to give up an application in the first phone call? I am assuming quite a few (unless you have been listening to David Bartels in action). Let's flip it for a second: If … (2 comments)
officer: Where Do You Blog
- 12/07/07 11:49 PM
Obviously, all of us like using Active Rain to get our "blogs" out there. Do any of you take advantage of other forms of Real Estate Networking? I guess the reason that I bring this up is for SEO purposes. Networking is a form of branding and self-promotion. When you have a series of links coming from higher Page Rank (PR) sites, your PR will also increase and therefore increasing your google-ability. That being said, I want to share other sources of blogs to help you get your links out there and increase your PR. Obviously, ARWannaNetworkMy Connecticut Mortgage WebsiteYahoo Finance blogsCNN blogs … (11 comments)
officer: Reverse Mortgage (HECM vs Proprietary Bank Program)
- 12/06/07 03:59 PM
Over the past couple of days, I have recieved several questions regarding HECM/HECL loans vs. proprietary bank Reverse Mortgages. Here's the deal on these:HECM (Home Equity Conversion Mortgage) or also known as HECL (Home Equity Conversion Loan). These programs are backed by FHA, and typically have significantly high closing costs. These closing costs are standard to the industry (2% origination for FHA, and 2% origination for the bank). However, the HECM's/HECL's typically allow for a higher net benefit (overall cash proceeds) because there is less risk involved when FHA insures the loan. This means that you can use a higher LTV … (0 comments)
In what will probably be the biggest merger of the year in the mortgage industry, Bank of America has purchased Countrywide Financial Co. at the tune of $4 billion.
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