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Lenders Losing Purchase Focus

Once again lenders find themselves losing focus on purchase business which opens up opportunity for level headed originators.

focusBe sure to catch all of your real estate news and mortgage news every morning with Frank and Brian. Please forward, share, subscribe and post to your social sites if you find today’s information useful, and be sure to share it with your office. It pays to be educated on what’s going on in the mortgage and real estate industry everyday as an industry professional. Also, please feel free to send us show ideas – we love it! A lot of our content comes from the pro’s on the street as it should!

If you need any help with kick starting or refreshing your business, we recommend the following:

Listing Booster – Generates buyer leads straight from real estate agents listings and… in most area’s it’s fully automated!

Boomerang Prospecting – You know you should be making your calls but you just can’t make yourself do it or you don’t have the time. Let Boomerang Prospecting make the calls for you and then send your interested clients back to you!

We have a couple of new products up our sleeve that we’ll release to you shortly as well so stay tuned!

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

Frank and Brian

Raking in Refinances Again

We don’t have a show today so you can move along if you want because we’re going to pitch something to you in the absence of said show.  Brian went one direction and Frank went another with office duties so getting a show out simply wasn’t an option.

refi-460x250But we do want to do a little text post and a quick pitch that we honestly believe will still be helpful it you’ll indulge us for a brief moment.  As you all know we’re big fans of loan officers focusing on purchase business.  In our collective 40 years in this business we both know that a strong book of purchase business is always the wisest way to keep the pipeline humming.  With that said however, it’s pretty hard to pass up a good refinance market when it comes along.

Enter today’s market.  Loan volume is creeping up again, and it isn’t purchase deals.  Refinances are making another surge and since that’s the case, you might as well get some of that action if you’re a loan originator.  Here’s the deal.  Most of the LO’s out there use email blasts to accomplish communicating the message to their past client database in an effort to shake the refi-tree and see what falls out.  Although there is nothing wrong with email blasts and we would encourage you to use them, there’s still nothing more powerful or effective than the phone call.

Problem – phone calls take time.  There’s probably way too many people to call and you can’t squeeze in the time to make it happen even though you know you’d get a better return if you did it.  Solution – Hire Boomerang Prospecting.  Here’s how it works.  You send BP an excel spreadsheet of all the people you know should get a call right now about doing a refinance.  They scrub that list through the Do Not Call Registry.  The cost for that is $50.  You’ll be surprised how many people are on that list.  So if you sent BP a list of 500 people it will probably scrub out to about 250 callable numbers.

Once the list is scrubbed you then pay $2.75 per number for the service.  With their service you’ll get 2 calls made to each number in an attempt to connect with the client.  If they connect they use the refinance script that’s in their system to see if there is interest.  If there is interest they set the appointment for you to call them and you get the deal.  The phone number that shows in your clients caller ID is your office phone or cell phone, whatever you want.  If on the second try they don’t still don’t connect, they leave a professional voice mail asking your client to call you if they are interested.

It’s a very simply system that flat works.  If they call 250 of your clients you’re going to get a handful of deals out of it.  250 clients would cost you $687.50 (plus $50 for the scrub) but here’s the deal – they’re going to actually call all 250 of those clients up to 2 times.  Not only that, but they will get them done super fast – much faster than you would.  Let’s say you get 4 deals from it where you net $2,000 a deal.  You spent $687.50 to get $8,000.00 – that’s pretty good and you didn’t make one outbound call.  They are essentially your own personal refinance call center.

The beauty of it all is you can continue to send more and more names to them to call as you need.  The results on the refinance script have been fantastic.  So, while this low rate environment is still around heading into what could be a very cold winter, you may want to hire them to get this work done for you so you can sock some money away.  Do we get paid if you use the system?  Yeah, duh, but so do you…….

CLICK HERE to get more information, and remember, they do corporate deals too.

Have a great day, thanks for listening and we’ll see you Monday.

Frank and Brian

800K People Still Need to Refi

September 9, 2014 CFPB, FHA/HUD, Refi 6 Comments

According to NPR there are over 800,000 people that still need to refinance.  Sick ’em!

REMN Wholesale is going to be at the NAMB Convention in Vegas next week!  Here’s the deal… They throw a killer party and their having one on the 14th that you won’t want to miss!  So to get more information about it you can simply CLICK HERE!  Hope to see you there and don’t miss it!

Sea of PeopleNow on to new business and that’s what it really is.  A lot of originators out there are complaining about business being slow with respect to refinances, but according to the NPR, there is a bunch of business out there ready to be had.  So why isn’t it getting done?  Well, if you ask me, it’s because no one is talking to these prospects letting them know that they can do it.  I think most originators and companies are sending emails and making Facebook posts, but no one is calling.  I think the one’s who call will get the majority of the business.  That’s my opinion, what’s yours?  So if I am right what’s stopping us?  I think it’s a combination of motivation and time.  A lot of us aren’t motivated to pick up the phone and a lot of us feel like we don’t want to put in the time.  Look, if you’re in this boat, just use Boomerang Prospecting.  Send them a couple hundred people in your database you think will benefit from a refi, chose the refinance script and let them call for you.  When they find an interested person they set the appointment for you to call them back and get the deal.  CLICK HERE to learn more about Boomerang Prospecting, but… If you don’t use them, get on the darn phone yourself and make it happen!!

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

Frank and Brian

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