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How magic ties in with Mortgage Magic

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Mortgage and Lending with Mortgage Magic

Mortgage Magic has the name magic because for almost 40 years I have dabbled in magic. The name came about by accident. I had always worked in banking and decided to become a mortgage broker and realized I would need a business account. So I went to a bank and asked to open a checking account. The person assisting me asked what is the name of your business and I replied I did not have a name and she told me that I needed to choose a name and then go to the County offices and file a DBA (doing business as) to get a business name. I had always worked in banking but only in lending so these obvious things I did not know.

I went home and wrote out 5 or 6 names and one of the names was Magic Mortgage. I was calling out the names to my daughter who was washing dishes in the kitchen. When I said Magic Mortgage she misheard me and said "Mortgage Magic". I immediately liked the name and proceeded to file the dba and open a checking account.

The company grew to almost 20 people after the first year and being committed to community service we
created community service teams and the teams visited every function we could to serve the community: Hospitals, Church events, Festivals, and Fund Raisers. I did magic and we had a team that tied balloon animals and a team that did face painting. We had a blast and because we were 'givers' we attracted good people.

I still do Magic Shows but rarely close up magic. . After almost every show someone wants to show me a magic trick. I am always honestly delighted that they share. Nine times out of 10 this is the trick they show me. I do the trick a little differently after watching a magician on ExpertVillage.com (do not know your name but thank you) Hope you enjoy. This is the 21 Card Trick.

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Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Doug. Sometimes great business names come from some of the most obscure places. You combined a hobby with a business to promote the company name. It seems to have worked out well. Enjoy your day.

May 21, 2025 05:33 AM
Doug Jones

Thanks Wayne. There is even another part of the story. After we had been open about a year a large conglomerate approached us to see if we would become a wholesale lender. I told them I did not have the money and they said they would back us. So we immediately became a lender and our customers were the mortgage brokers. The name Mortgage Magic worked well because our loan products were Fannie Mae fallouts (B Market)..We did that for 3 years and then the person who sold out loans to the secondary market became the International President of the Jaycee Senate and he was traveling all over the world and could not continue with us. None of us wanted his job so we went back to being a retail mortgage broker. For the less than Prime loan market the Mortgage Magic name was perfect.

 

May 21, 2025 07:40 AM