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How Lenders Recover from 66% Volume Loss

Earning reports are coming out.  Chase is showing a 66% loss in mortgage loan volume from a year ago.  66% is a lot, but there is a way to recover from it.

As we were composing our show for you today we were astounded at the difference in loan volume the industry is at now compared to a year ago.  You may not realize it but the mortgage industry is currently at 2008 volume levels.  That’s pretty rough.  The real issue of course, and I think we all know it, is the refinance gravy train has come to a stand still even though interest rates are still extremely low.

Business SWOT AnalysisWe’ve gone round and round trying to dissect why this is the case along with every other mortgage media reporting source out there.  At the end of the day it might just be because we’ve simply refinanced pretty much everybody that wants to refinance.  Naturally that means as a mortgage originator, we need to put a real focus on getting as much purchase business as possible.  Not only is it the originator that has this mindset but it’s the company itself.  So how are mortgage companies and loan originators getting this done?  Truthfully, not very well.  Most mortgage companies are still relying on email blasts, and social media advertising.  But the best results we’ve seen are from the companies and individuals that are willing to roll up their sleeves and get there hands dirty by getting out there and providing value to the source of most of the purchase leads out there – the real estate agent and their listings.  This means phone calls, meetings, on site presentations, work.

Most purchase leads come from sites that feature listings or the property itself via sign riders – that’s it.  The excitement is in the property to a home buyer, not in the loan, so those loan officers that are finding ways to attach themselves to their realtor partners listings in a joint marketing effort are the loan officers that are winning right now.  We know there are a variety of services that can facilitate this type of marketing plan, but we feel Listing Booster is the easiest, cheapest and fastest way to get it done.  If you want to learn more about the product fill out the form on the “I want more info about Listing Booster” banner on your right.

Good luck out there!  And have a great day!

Frank and Brian

Why Won’t Buyers Buy?

Thanks for tuning into today’s show!  With all the stats out their pointing to a buyers frenzy, why isn’t it happening?

Listen if you’ve got those buyers that are in that 3 to 5 year waiting period after a short sale or foreclosure who would rather secure a sales price on a home now then take their chances down the road, they you have to check out our Mortgage Alternative Program.  To learn more about it, CLICK HERE.

ShopCartIconBNow as far as the show goes.  Just watch it.  We should be seeing more buying activity out there but we’re not.  So whats the deal?  Naturally we have our opinions, but we’d really like to hear yours.  So watch the show and give us your thoughts on it below.

With that you all have a great day!

Frank and Brian.

Frank and Brian

CFPB Investigates Mobile Services

The CFPB has launched an investigation into mobile financial services.

You have to check out MGIC’s self employed calculator.  It rocks!  It’s fast, easy and accurate.  To get it, all you have to do is CLICK HERE.  Did you know that we launched Listing Booster last November and to date we’ve uploaded over 48,000 virtual tours to YouTube automatically?  Did you also know that we have generated thousands of purchase leads to our users?  You may want to check out what Listing Booster can do for you ASAP.  CLICK HERE to get started!

mobile marketingNow on to the show.  The CFPB has launched and investigation into mobile financial services.  It seems they’re into every nook and cranny of the mortgage and real estate industry doesn’t it?  Yeah, it does.  Well now it’s mobile.  Is it helping the consumer?  Are mobile financing apps safe for the consumer?  Do they cost the consumer more or less?  Do they help the under-served, the under-banked, the low income individuals and families out there?  Most importantly, do we in the mortgage and real estate industry that rely on mobile technology need to worry about what we’ve got going on?  Tune into the show and see.

With that you all have a wonderful day and we’ll see you tomorrow!

Frank and Brian

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January 2019
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