Mortgage Transactions Need Game Plans & Options Too

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI
https://activerain.com/droplet/55Jh

 

Mortgage Transactions Need Game Plans & Options Too

 

 

If you watch sports much (and admittedly, I do.  Just ask my wife), you've probably seen clipboards and playbooks in the hands of coaches on the sidelines. Those clipboards and playbooks hold the "game plan" for their team and their path to (hopefully) victory ...

 

By the time the actual game is played, the players have seen, heard, and practiced the game's designated game plan and plays  repeatedly.  The idea being that their actions and reactions become natural, automatic, rote.

(Vince Lombardi was legendary for his meetings, film-watching, and practice sessions.  Enjoy the clip attached to the pic!)

 

But even with all the pre-planning, preparation, and practice, it's not uncommon for coaches to introduce new plans and last-minute changes to players during crucial or close games ... adjustments and tweaks made to address what's occurring during the game.

Now I know you're thinking, "I bet there's some kind of an analogy coming".  So as to not disappoint ...

I've often thought that Mortgage Originators are much like coaches.  They definitely need to develop and execute a strong game plan for their clients.  

They also need a "playbook" for each of their transactions.  One that addresses each step of the transaction.  

The playbook should contain the many loan types, loan programs, loan requirements, and underwriting guidelines and "details" regarding the players that could affect the transaction. The variables of each are also within this playbook.  

There are many analogies to be made here, but what I'm trying to get at is this:  Mortgage Originators need to adopt a game mentality regarding their transactions.  They need to prepare themselves (and their clients) just like coaches do for a game.

 

Practical application, practice, and reinforcement of the game plan should then follow.  The preparation should address allowance for last-minute adjustments and changes, just as it does with major league players. 

Why??  

 

Planning and preparation eliminate the possibility of error.  It builds confidence.  It results in success.


A Mortgage Originator's Game Plan should include: 

  • Analysis:  A thorough analyzation of their "team" (clients) and their talents, capabilities, and playing options (Credit standing, possible credit improvement, qualifications for differing mortgage programs, etc.)
  • Education of client(s)
  • Ongoing communication
  • Practical application (Gathering of documentation, instruction for completing requirements and tasks, etc.)
  • More ...


In other words, no portion of the game plan should be under-analyzed, unknown, or misunderstood by Originator or client.  No portion of the game plan should be left to chance.  

 
In a mortgage transaction:  That means clients are provided all game "options"  ... and understand them thoroughly.  
 
What's next?  
 
My next post will cover the various loan options available today and what distinguishes each ... 
 
 
* Hoping to Buy or Refinance a home in the Chicagoland area? Contact Me! I'll put my 40 years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:

Gene Mundt
Mortgage Originator - NMLS #216987 - IL Lic. #031.0006220 - WI License 216987
 
American Portfolio Mortgage Corp.
NMLS #175656
 
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 
 

 

 

 

 

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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
Illinois Will County Joliet
Groups:
Mortgages
Chicago Area Real Estate BUZZ!
Out Of The Box!
Bananatude
WillCounty
Tags:
sports
financing a home
sports analogies
choosing a mortgage lender
game plans
mortgage advice and tips

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Ambassador
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Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Gene this is exactly why you are so succesful - you have a game plan and strategy and you know when to shift plans when needed!

Jul 10, 2017 04:46 PM #4
Rainmaker
1,534,046
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

It truly is a game plan but often times it is lost on the buyer. Great post Gene!

Jul 10, 2017 04:50 PM #5
Rainmaker
3,814,500
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi ,

So glad to see your post featured! Its important to have a game plan if you want to succeed!

Jul 10, 2017 05:51 PM #6
Rainmaker
3,252,214
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Ongoing communication and a variety of "plays" available make for much

happier buyers and a smoother transaction.

Jul 10, 2017 06:23 PM #7
Rainer
108,359
Mega Team Real Estate
Realty ONE Group Alliance - San Mateo, CA
San Francisco and Peninsula Real Estate Concierge

Great feature! Thanks for sharing. 

Jul 10, 2017 10:58 PM #8
Rainer
520,127
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

You hit the nail right on the head!!!

Mortgage Originators are much like coaches.  They definitely need to develop and execute a strong game plan for their clients.  They also need a "playbook" for each of their transactions.  One that addresses each step of the transaction.  

Jul 11, 2017 04:46 AM #9
Rainmaker
401,223
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

I appreciate Lenders who have a game plan and include education the consumer. 

I get frustrated with Lenders who do not provide appropriate options.

Thanks for a great post.

Jul 11, 2017 06:07 AM #10
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi "Planning and preparation eliminate the possibility of error.  It builds confidence.  It results in success."

Right on target - and - re-blog!

Jul 11, 2017 06:18 AM #11
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

What I have found in all my years is that finding the "right" people for any need or service or product is the real work. Here, with Gene, we can finally relax and let the good come what may and just play the simple part of receiving & acceptance. That is what true advertising is all about. Revealing all the sources

Jul 11, 2017 09:23 AM #12
Rainmaker
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Luke Acree
ReminderMedia - King of Prussia, PA
Making Agents Memorable

Great illustration and break down of a classic analogy. Always looking to learn more about mortgage and lending.

Jul 11, 2017 09:24 AM #13
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Oh, great analogy, Gene - and you didn't disappoint (you never do)! I think that is where a lot of people fail - if you prepare and over-analyze, you'll have all of the bases covered!

And, I love the video - how cool it is to watch Vince Lombardi teaching - he was definitely a planner - and his success lived well beyond his life on this earth too!

Hope you have a wonderful Wednesday, Gene! 

Jul 11, 2017 08:52 PM #14
Rainmaker
757,695
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi always love your posts. Great points and loved the clip of Lombardi.

Jul 12, 2017 08:20 AM #15
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

He is definitely a legend that many more than you and I believe him to be! I was surprised that less than 900 had watched that video - but, then I saw it was uploaded last year. They must be digitizing some old film footage - pretty cool to watch it on YouTube...on our cell phones! Who ever would have thought that would be possible?!

Happy Wednesday. Brotha Gene! 

Jul 12, 2017 09:19 AM #16
Rainmaker
3,247,788
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Gene

A professional mortgage originator can make all the difference in getting a mortgage successfully.

Good luck and success.

Lou Ludwig

Jul 12, 2017 07:03 PM #17
Rainmaker
3,247,788
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Gene

Congratulations on being awarded a feature for your post.

Good luck and success.

Lou Ludwig

Jul 12, 2017 07:04 PM #18
Rainmaker
126,363
Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA
Future Home Realty - Seminole, FL
Providing the integrity and service you deserve.

Very good advise. Having a game plan help make a transaction a win/win for all. Great post. 

Jul 12, 2017 08:59 PM #19
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Gene

Well I missed the start of your series before, but this is such an appropriate analogy. The lenders I have worked with and liked, and have watched buyers work with, who do a great job really fit this comparison from start to finish!! And who doesn't like that Lombardi vid?

Have a great weekend!

Jeff

Jul 14, 2017 08:06 AM #20
Rainer
497,683
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Gene,

You have this figured out.

Jul 24, 2017 10:15 AM #21
Anonymous
Anna Shetty

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Sep 07, 2017 06:46 PM #22
Rainer
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Rakesh sharma
ssr - Boise, ID
I am here to do a business in buy and sale the ite

Yes this is happening that you could have  8 ball pool hacked online and have 8 ball pool coins and cash.

Nov 16, 2017 07:18 AM #23
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