EXPAND YOUR REACH WITH HOMEBUYER EDUCATION SEMINAR
THE ULTIMATE BROKER RESOURCE NEWSLETTER October 2005
In This Issue…
1. Expand Your Reach With a Homebuyer Education Seminar 2. Industry News 3. Question of the Month 4. It’s NEW! 5. Coming Soon 6. Tell Us What You Think
==================== FEATURE ARTICLE===================== Expand Your Reach With a Homebuyer Education Seminar
An easy and relatively inexpensive way to reach a new niche is to host a homebuyer education seminar. As a loan officer, it will give you an opportunity to capture a new niche that you might otherwise have difficulty penetrating. As a processor, you can partner with other industry professionals to spotlight your in-depth knowledge of the approval process. Seminar facilitation can even be added to your scope of services. Let’s explore the benefits of creating a homebuyer education program from both perspectives – the loan officer and the processor.
LOAN OFFICER – A homebuyer or homeowner seminar is a great way to increase your presence in the community. Additionally, it’s a great opportunity to promote:
· A partnership with a realtor, Title Company, or other industry professional · A new loan program – first time homebuyer, interest only, stated income, etc. · An easy way to get free publicity via radio, TV, newspaper, trade journals, etc. · Announce new service offerings, discounts, or promotions · Survey the needs of your niche market · Get feedback regarding customer satisfaction · To increase refinance business · Increase referrals and more...
PROCESSOR – A homebuyer or homeowner seminar is a great way for you to offer value-added services to originators. Your first hand experience with the things that cause file delays is invaluable. You can give realistic examples and solutions for the things that are most likely to cause both the loan officer and borrower a ton of grief. A few additional benefits that go hand in hand with seminar facilitation include:
· An additional source of revenue as a paid speaker · It can help to improve the quality of the files your receive for processing · It can open the doors to joint venture opportunities with other industry professionals · More exposure may lead to more new business · An easy way to get free publicity via radio, TV, newspaper, trade journals, etc. · More opportunities to be hired for originator and processor training and more...
As you can see, a homebuyer education program is a win-win situation for the loan officer, the processor, and the borrower.
Complete Mortgage Processing has recently released a new training book titled The HOMEBUYER SEMINAR FACILITATOR’S GUIDE to help mortgage professionals who are interested in hosting their own seminars. This guide is a great resource that includes tips for seminar content, your verbal presentation, marketing tips, and flyers. For a limited time only, this guide is available at no charge when you purchase a Processor’s Training Trio. It can also be purchased separately. Visit our website at www.completemortgageprocessing.com for details.
=========================================================== INDUSTRY NEWS AND EVENTS
Mortgage industry conventions are being held around the country this month at the following locations:
Oct 3-4 KENTUCKY ASSC OF MORTGAGE BRKRS Louisville,KY Oct 5 ARIZONA MORTGAGE LENDERS ASSC Phoenix,AZ Oct 5-6 MICHIGAN MORTGAGE BRKRS ASSC Detroit, MI Oct 5-6 MISSOURI ASSC MORTGAGE BRKRS St Charles,MO Oct 11 ILLINOIS ASSC OF MORTGAGE BRKRS St Charles,IL Oct 12 OHIO ASSC OF MORTGAGE BRKRS Columbus,OH Oct 12 NORTH VIRGINIA ASSC OF REALTORS Tyson Crnr,VA Oct 12-14 TENNESSEE ASSC OF MORTGAGE BRKRS Nashville, TN Oct 13 SANTA CLARA ASSOC OF REALTORS San Jose, CA Oct 19 VIRGINIA ASSC OF MORTGAGE BRKRS Virg Beach,VA Oct 23-26 MBA’S 92ND ANNUAL CONVENTION Orlando,FL Oct 25 CAMB INLAND EMPIRE Ontario,CA Oct 27 INDIANA ASSC OF MORTGAGE BRKRS Indianapolis,IN
Q. I recently lost a deal because I quoted a rate and then later realized that the deal was a jumbo loan and had to be priced accordingly. The customer felt it was a bate-and-switch tactic. Any suggestions for dealing with this situation in the future?
A. Good question. First and foremost, you can save yourself a lot of headache by consistently gathering the most important information before you quote a rate. You should always be aware of the loan amount, LTV, and occupancy type you are quoting a rate for. The type of documentation provided for the loan and the type of property will also affect your rate. Once you’ve gathered the details you can proceed with pricing your loan. You can also avoid jumbo pricing by doing two separate loans rather than one. By calculating the combined payments on a first and second mortgage and comparing it to the jumbo loan payment, you can determine if structuring the loan this way is beneficial to your client.
SPECIAL REPORT: BRINGING A NEW PROCESSOR ON BOARD – Tips for ensuring that a new processor or loan officer support person has a successful orientation process.
THE HOMEBUYER SEMINAR FACILIATOR’S GUIDE – A handy guide to help mortgage professionals market their service through a homebuyer education program.
Purchase both items from our training books catalog separately or get them absolutely free when you purchase the Processor’s Training Trio.
EXCLUSIVE MEMBERSHIP SITE FOR MORTGAGE PROFESSIONALS: The Complete Mortgage Network Membership Site makes its debut on October 31, 2005. This site is guaranteed to please! You can find all of the information you need for your mortgage career in one place. Information on origination, processing, licensing, marketing, underwriting, appraisals, training, lenders, career opportunities, and industry news. We even have a lifestyles section that features information on family, health, music, entertainment, and sports.
Complete Mortgage Processing e-course and newsletter subscribers will have an opportunity to test drive the site with a F*R*E*E trial membership a few days prior to the official launch date. Stay tuned for your e-mail invitation.
If you have already purchased our Loan Processor In-A-Box™ workbook or used our other training resources, we’d love to hear from you. Let us know what has helped and what you’d like to see more of. Leave a message at our Feedback line at 1 (800) 609-9006 x2128 or just click here to submit your comments online. You can also send us an e-mail to processinghelp@aol.com or fax us at (702) 543-5397.
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