THE ULTIMATE BROKER RESOURCE NEWSLETTER November 2005
In This Issue… 1. Work Smart This Holiday Season 2. Industry News 3. Question of the Month 4. The Complete Mortgage Network Membership Website 5. Live Training 6. Tell Us What You Think
With the holidays just around the corner, many of us ponder how we will be able to stay on pace with our production goals AND participate in holiday festivities. Who wants to think of shopping, cooking, house guests, decorating, and entertaining when you’re already maxed out! Well, don’t think of it as more work. Look at the season with a pair of fresh eyes. Take advantage of the holiday season to rejuvenate your body and mind in preparation for a dynamic new year. Here are a few tips from our team to help you enjoy this holiday season to the fullest:
1. IDENTIFY YOUR MOST PRESSING PROJECTS and map out a strategy for completing them. Stay abreast of the availability of key players and decision makers. If your loan file requires an exception or needs to be expedited, review it with the proper authority before their vacation begins. Remember, people sometimes leave the job mentally and emotionally long before a physical departure so get your bid in early. Delegate what you can. Ask for help if you need it. Focus on your priorities and eliminate as many unnecessary tasks as possible.
2. FIND OUT EARLY IF YOU WILL NEED TO MANAGE ANOTHER TEAM MEMBER'S PIPELINE during the holidays. Don’t let this get dropped in your lap. Keep your eyes and ears open. Don’t hesitate to initiate a conversation about how coverage for time-off is handled if someone else doesn’t bring it up. If you are the designee, meet with your team member to discuss file details and an action plan. Make sure customer inquiries are routed correctly and file issues are addressed promptly.
3. SHOP DURING OFF-PEAK HOURS OR MAKE YOUR PURCHASES ONLINE. Many retailers open earlier between Thanksgiving and Christmas. Check their website or phone to see just how early the doors open. Many retailers offer the same deal online and often with free shipping. Look for ways to save time and minimize stress. Ask a family member pick up an item you’ve selected for a friend or vice versa. Gift cards and movie tickets work well when you can’t figure out what gift to give. If you need to ship packages make sure you send them out by the posted deadline.
4. TAKE ADVANTAGE OF THE OPPORTUNITY TO NETWORK DURING HOLIDAY PARTIES. Don’t be shy. Introduce yourself to that person you speak to on the phone regularly. Now you both can put a name with a face. Offer compliments and encouraging feedback to others. Accept compliments with a positive statement such as “Thank you for noticing...customer satisfaction is really important to me” rather than “Oh, it was nothing”.
5. THE HOLIDAY SEASON IS A PERFECT TIME TO MARKET YOUR SERVICES to past clients, friends, and family. Make it easy by creating or ordering holiday cards or gifts that include your contact information. You can express appreciation for continued support and introduce a new product or service all with the same item. Letters that include a few personal tidbits about this year’s success and challenges are great. It helps others to view you as a “regular” person.
With a little planning and preparation, you can have the best holiday season ever. For more time and money saving business tips, visit our website at www.completemortgageprocessing.com.
Nov. 8, 2005 Mortgage, Quality & Compliance Workshop California Mortgage Bankers Association Irvine Marriott Orange County, CA
November 13-15, 2005 Western Regional Mortgage Brokers Conference 2005 Caesars Palace Las Vegas, NV
Nov 15 - 17, 2005 Build Boston World Trade Center Boston Boston, MA
Nov. 19 - 20, 2005 International Real Estate Expo Wynn Las Vegas Las Vegas, NV
+++++++++++++++++++++++++ QUESTION OF THE MONTH +++++++++++++++++++++++++
Q. I’m a processor who has recently received an offer to originate. I’m considering doing both since I know it will be a while before I receive a loan officer commission. What things should I ask about being a loan officer to help me make the decision that’s best for me?
A. There are many mortgage professionals that originate and process their own loans. If you plan to do both, you will need to manage your activities well. This is especially true if you will continue to process for others. Additionally, you want to be fully informed about the loan officer position. Be sure to inquire about the following:
1. What is the commission structure and pay frequency 2. Are you allowed to process your own loans? Don’t make any assumptions. 3. What are the licensing and continuing education requirements for your state? 4. If you don’t know already, find out exactly what the responsibilities of a loan officer are. It’s not as easy as it may seem. 5. Get an understanding of the time commitment required. Some loan officers work weekends and late evenings. 6. What other training resources are available within your company? 7. How are leads generated? 8. How do you market yourself? Who pays for marketing items such as your website, advertisements, business cards, etc?
These are just a few of the things you’ll want to know. Discuss the position with other loan officers to get a more realistic view of the opportunities and challenges.
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.
If you haven’t done so already, be sure to visit our partner site The Complete Mortgage Network. We’ve assembled relevant industry information on all of the mortgage topics that interest you most:
- Origination, processing, and underwriting - Training, licensing, and industry events - Regulatory compliance, title, and appraisals and more…
Take a peek at www.completemortgagenetwork.com and then join the Complete Mortgage Network.
====================================================== COMING SOON! ==================================================== THE ONE TRAINING EVENT YOU DON'T WANT TO MISS:
When: Tues., Dec. 13, 2005 Where: Las Vegas, NV Why: Because You Want to Close Loans Faster How: Reserve your seat today at www.completemortgageprocessing.com/LVTraining.html Call us at (702) 444-6249.
Seminar Bonus: A copy of Loan Processor In-A-Box is included with your seminar fee. _______________________________________________________
Copyright 2005 Complete Mortgage Processing. All rights reserved. _______________________________________________________
Contact information at www.completemortgageprocessing.com
