|Mortgage Refinance Information|
Desperately Seeking Good Leads, The Adventure Driven Loan Officer
As loan officers, the word "lead" is by far one of the most common words we use during the day, it is the topic of many of our conversations, it is praised and cursed, it is good and it is bad, it is loved and it is hated, on bad days it is hard to find, and on good days it falls right into our lap.
The lead is a specter that haunts us constantly, we can't get enough of them, no mater how many or how little we have, we are constantly searching for more.
In a perfect world, a lead would be waiting for us every morning on our desk placed there by the lead fairy, along with a complimentary cup of coffee and a morning paper. With a waive of her magic wand she would ensure that every lead would turn into a deal and we would end up with a 100% closure ratio. Unfortunately this is not the case.
As a loan officer starting out in this industry, I came to work on my first day and expected the leads to just come out of no where, as you can expect, nothing happened. On the second day, I came to work, and again I expected the leads to just start coming out of no where. As you can imagine, nothing happened.
On the third day, I decided to make a move. I began the process of throwing myself into the world of networking. Although the concept was quite simple, I knew that reaping the rewards would prove to be a much more difficult task.
Lets face it, we can never have enough leads, we want to ensure that our pipe line is healthy at all times, with at least one closing per week.
One of the first groups I became involved with was a networking group called "All Business" and that is exactly what it was, all business. This particular group consisted of a President, a Vice President and a treasurer, along with a few other officers whose meaningless titles I cannot recall. The premise of this organization was to filter out any kind of conflict that could result from to many people belonging to the same industry, therefore only one person from a certain industry was permitted to join. As luck would have it, "All Business" did not have a representative from the mortgage industry, and after a two week screening process I was voted into the group.
The officers style of running this organization was militant, but effective. All members had to adhere to strict guidelines. For instance every Wednesday we met at a local diner at 7:00 am sharp, and upon arrival you could only speak of business and nothing else, and if you were a minute late you were fined five dollars. If you failed to show up with out a lead from the previous week, you were fined two dollars, and if you missed two consecutive meetings you were dismissed from the group.
Every Wednesday I was permitted to give a two minute speech before the group and familiarize them with the products I had to offer so they could then sell it for me, and once a month I was given the floor for twelve minutes to really wow them with what I could offer.
I loved to see their eyes pop when I spoke of cofi's, cozi's, and interest only loans, products they did not know existed.
Of course this organization came with a price, the annual fee was $500.00 paid in installments quarterly, but none the less, it paid for itself many times over by the leads I received from this group, which was basically a twenty five person sales force I had working for me. Over all this was time and money well spent.
My next step was to join my local Chamber of Commerce. We met every Tuesday afternoon for lunch at a popular local restaurant where a room was rented to accommodate us and serve iced tea and rubber chicken. The chamber was very large and consisted of many members, more than two hundred. It quickly dawned on me that this was an organization where I was going to really have to bust my but to get results, the chamber was loaded with competition, there were many bankers and mortgage brokers I was going to have to compete with, so I was going to have to be better than the rest, especially when I didn't have the luxury of a company picking up my tab of $300.00 per year and the $15.00 I spent on lunch weekly, to me this was more than just time out of the office.
In time my persistence began to payoff, and the referrals and leads began to come.
One thing I learned very quickly, was that the best way to receive a referral was to give one. Nothing is for free!
Over time my exposure through these organizations provided me with many very useful contacts in the banking and real estate industries. These contacts along with the referrals I was receiving from my family and friends, and also, referrals from former customers, my book of business began to grow at a very nice pace, and business was good.
One of the last things I decided to try was investing a couple of hundred bucks in a mortgage lead company. I didn't save them for last because I didn't have any faith in them, I waited until I had closed a few deals so that I could allocate some money toward this venture. By the time I was done investing in lead companies, and I had dealt with quite a few over the course of my loan officer career, I found that the experience was not as pleasant as the networking organizations I had joined, and a lot less rewarding.
I can't say that they were all bad. A few were quite good. But the few that were good, were only good in the areas of customer service and liberal return policies. However, the ones with the liberal return policies replaced my bad leads with other bad leads.
Part of this was my fault, I made the mistake of diving in without doing any kind of research before I made my purchase. The internet is filled with sites that I should have accessed to get on line reviews and surveys of just about every lead company out there, along with commentaries from loan officers who have used particular lead companies.
My quest for leads went from sitting around idle to something that rivaled the quest for the holy grail, and my quest continues to this day. This is not the end. It is just the beginning. By visiting my site at www.jconners.com, you can check out some of the lead company reviews we have posted, and get an idea of what to look for in a lead company.
Jay Conners has more than fifteen years of sales and marketing experience in the banking and mortgage industry, and is the owner of J. Conners, Mortgage leads reviews. He is also the owner of http://www.callprospect.com a mortgage lead company, specializing in fresh leads. Jay Conners can be contacted via e-mail at firstname.lastname@example.org
Home Loans and Mortgages ? Time to Consolidate Loans?
Home equity loans and lines of credit are useful tools for homeowners. They allow the homeowner to borrow against the value of his or her home for all kinds of purposes ? home improvement, debt consolidation, vacations, and more. The loans, backed by the value of the house itself, come with attractive interest rates and the added bonus of tax deductible interest. That interest, however, is often variable, adjusting up and down with changes in market conditions. At the moment, conditions are such that interest rates for adjustable rate loans are increasing while rates for fixed-rate loans are still fairly stable. This is probably a good time for homeowners with variable rate equity loans to consider consolidating their primary mortgage and home equity loan into a single entity.
Florida Refinance - Refinancing in Florida
The decision to buy a home in Florida can be one of the best you will ever make. If you own a home in Florida you may be considering refinancing. Refinancing now can potentially save you thousands of dollars over the length of your mortgage. Florida lenders are offering low interest rates and could save you thousands of dollars over the length of your loan. Mortgage companies serving Florida and the United States are able to offer loan packages that make refinancing your home a wise decision. Compare your current interest rate to the rates being offered now and see how much money you can save by refinancing your home.
Who Else is Ready to have Their Money Work Harder for Them?
What does it mean to refinance? Why would anyone want to consider it? There are numerous situations when someone would refinance. When we use the word refinance, we are basically referring to a loan: for example a car or house loan. It may also be a business loan. In this article, we are going to explain the home loan and some of the common terms of refinancing and how they apply to other types of loans as well.
Mortgage Elimination- A Horrible and Sure Way to Lose Your Home to Foreclosure
"Own your home free and clear in 3 to 4 months. Note paid in full!"
Need Mortgage? Alternative Finance Often Masks Predators, Who Want to Steal Your House
So, your bank had just turned you down for a mortgage application. The same thing also happened, when you went to other banks in your area. How can those banking people be so blind? Don't they see that you are a hard working person? That you intend to repay them every penny?
Credit Problems? With a Subprime Mortgage Lender, Poor Credit is Not a Problem
Have you been turned down for a home loan recently because you have a bad credit history? You may want to consider applying for home financing with a subprime mortgage lender. A subprime mortgage lender is one who specializes in providing financing for people who are difficult for most mortgage companies to finances, it could be because of a low credit score, hard-to-prove income or a combination of those factors with no money to put down.
When Not To Agree To A Home Equity Loan
Before you borrow money on your home's equity, think twice so you don't end up paying more than you expected.
Refinancing Your Mortgage Can Really Save You Money
Refinancing a mortgage is simply taking out a new mortgage. It means paying off one or more old debts by getting a new loan. Sometimes, refinancing your mortgage can really save you money. You may be able to pay less interest, lower your monthly payment, or convert from a 30-year loan to a 15-year loan and build your equity faster. But be sure that refinancing is right for you.
Mortgage Calculator ? How to Calculate Your Monthly Mortgage Payment
Just starting to shop for a new home? Do you want to know how to figure what your monthly payment would be based on a certain priced home? No problem, there are plenty of mortgage calculators on the web you can use free of charge (click here for an example of one). All you need to know is the mortgage amount, sale price less the down payment, interest rate (also easy to access on the web), and the number of years you wish to finance your new home, usually 30 years (360 months) is the maximum term. Simply input those numbers into the mortgage calculator and voila you have your monthly payment calculated for you. Can you see the advantage of knowing what your approximate monthly payment is going to be while your home shopping?
Homeowner Loans - Whats Available?
It isn't difficult to get a homeowner loan if you own your own home, hundreds of UK lenders will lend up to 95% Loan to Value of your property and some as much as 125% Loan to Value if you find you have little or no equity at all.
New York Refinance - Refinancing in New York
If you are looking to refinance in New York, it helps to get the facts before you begin the refinancing process. If you have an existing high interest mortgage, refinancing now could be the best choice for you. You can choose to refinance with cash out to make home improvements or to consolidate bills, or to simply refinance your existing mortgage to a lower interest rate that will save you a lot of money over time. New York real estate is always a booming business. Mortgage lenders in New York and throughout the country are competing for your business. You can get quotes from several lenders with one quick online application. Online lenders are offering the same great terms as traditional lenders and will give you the professional service and attention that you expect.
Poor Credit Home Equity Loan Tips
A home equity loan can help repair your poor credit history. Begin by finding a competitive financing lender with affordable rates and terms. Next, work toward establishing a solid credit history, enabling you to lower your interest rates on future loans.
The Power of a Home Equity Loan to Pay Down Debt
Households across the country are finding themselves in a similar situation. They lack the financial funds to make the necessary changes to their home and need to find a way to fund upgrades and eliminate debt. A popular way of financing these changes without killing themselves is by taking a home equity loan to pay down their debt.
Remortgage ? When Monthly Mortgage Payments are Touching New Heights
Current economic scene has hinted towards a fall in the Bank of England base rate from a three and a half year high of 4.75%. 78% of the property investors are contemplating refinancing their home loans. Are you thinking the same? This is the appropriate time for remortgage and moving to competitive interest rates. Remortgage is indeed a very cost effective option.
Home Equity Loans ? A Big Benefit Or A Big Mistake?
When the bills are piling up and there doesn't seem to be any way out, a home equity loan can seem like the answer to your prayers. Home equity loans can also be a great way to jumpstart a business or investment portfolio. However it's important to realise that in some circumstances, a home equity loan may in fact make your life a whole lot worse.
Poor Credit Home Mortgage Loans - The Role of the FICO Score
If you have bad credit history and are looking to get a home mortgage loan, then chances are you are going to need to know all about how the FICO credit scoring system works.
Getting a Home Improvement Loan: What Your Bank Needs
The popularity of stores like Home Depot and Lowe's show how many homeowners are jumping on the home improvement bandwagon. Maybe you're thinking of redoing part of your house as well. Perhaps you want the kitchen of your dreams or an extra bathroom. You know you'll have to take out a loan to finance the project, but if you're just in the beginning stages of the planning, you may not know exactly how to go about it. Whether you're refinancing or taking out a home-equity loan, here's some information on what your bank needs:
Stop Foreclosure - 7 Tips to Save Your Home
Faced with the threat of a foreclosure on their home, with all the weight of the mortgage industry and its army of attorneys against them, the average homeowner might feel like David facing Goliath.
Home Mortgages: Does a No-closing-cost Loan Make Sense for You?
I have heard a number of radio ads and have seen many newspaper ads offering "no closing cost" home mortgages. These ads will tell you that you can get a new mortgage or refinance your existing mortgage at absolutely with absolutely no closing costs.. There are no points, no charges for an appraisal, no charge for title insurance, no costs, period.
Refinancing Your Mortgage Can Open Up A Lot Of Options For You And Your Family
It can happen to anyone, the roof is leaking, the credit card bills are pilling up and it is almost time for a new car. But where are you going to get the money to do all of these things? The need for extra cash can be very frustrating and worrisome, however if you are a home owner you have a variety of financial options available to you that you may not even be aware of. You should look into refinancing as a viable option to solve your financial worries.
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