1. Deciding What You Want For 2007 2. Processing Quick Tip 3. Processing Strategies Training 4. Answers From The Mortgage Trainer 5. 1st Quarter Mortgage Industry Events 5. Add Your Listing 6. Tell Us What You Think
If you haven’t already done so, take some time to reflect on 2006 and decide what you want for your business (and home life) in 2007. Deciding what you want is the first step in achieving success. All too often, we dash off in search of success without really being clear on what we actually want. Consequently, we never seem to be satisfied. Naturally, we want things to be better. However, an ounce of progress could fulfill that requirement. Without a clear view of what we want, it’s no wonder so many of us miss the mark!
Life in the mortgage business often times becomes unnecessarily hectic. Despite the fact that we do the same things over and over again, many of us never stop long enough to implement a few strategies that will alleviate stress and make our lives a whole lot easier. In our travels, we’ve observed offices where Joe Loan Officer is still struggling with a fee sheet from a lender that he’s closed 5 loans with. Ann Processor has no clue why she is still getting new underwriting conditions each time she sends in docs to clear the original conditions. Then there’s Dan Broker who still has 3 loan officers that turn in pre-qual sheets with blank signed 1003s because they’re not sure how to complete the 1003. Undoubtedly, none of them enjoy being on this treadmill. They’re just not sure what to do to get off. Taking the time to gain clarity and focus could be all that’s needed to increase commissions and reduce the physical effort.
Make the commitment for 2007 to forego the New Year’s resolutions that never get fulfilled. Replace them with some goals that are realistic and measurable. Don’t just focus on the production goals though. Make it fun! Balance the scales by planning to have time for recreation, travel, personal development, and hobbies. Take a look at the things that take the most time and cause you the most stress. Determine what it would take to make it better. If it’s more training, then set a goal to get more training in the next 30 days. If it’s physical help, see what can be delegated, outsourced, or eliminated to give you some breathing room. If it’s organization, recruit a volunteer to help and spend a day doing only that. The better you feel the easier it is to hit your production goals every month. For each of your goals be sure to do the following:
1. Identify what you want to achieve (be specific) 2. Identify 2-3 options for achieving it (remember, there’s always more than one way to get something done) 3. Take action. Do this right away while the momentum is still there. Begin your research. Make a phone call. Register for a class. Just get going.
***************************************************** * Take the first step. You don’t have to see the whole * staircase. Just take the first step. –Martin Luther *King,Jr. *****************************************************
PROCESSING QUICK TIP
Having trouble staying on track with things to do on loans in your pipeline? Electronic reminders and day planners are great. But you can also keep it really simple. Just use a large desk calendar or wall calendar as a handy visual reminder. Use bold colors or large letters to jot down a note to remind yourself to update a title report or payoff. Stay on track when coordinating closing activities by writing down a phone number and a note to contact the title company or lender to make sure that all is well.
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Need Training But Don’t Have Much Time?
Take advantage of the easy and flexible training option offered with our 4-week e-class: Processing Strategies. Each week you’ll receive access to self-paced, online training resources that you review and complete at your convenience.
Week #1: Finding Tools That Speed Up Processing Week #2: Validate Your Loan With the Right Docs Week #3: What You Need to Know About Underwriting Week #4: How to Sail Through Closing & Funding
The course includes homework assignments to be reviewed by your trainer, a private Student Area with 30+ training resources (books, audio clips, interactive quizzes and more) plus a 30-minute private session to clear up any unanswered questions. When it’s all done, you be confident that you know:
- The best resources for processing loans quickly - How to find what you need to document your loan - How to clear underwriting conditions the 1st time - How to ensure a successful closing and funding
The next 4-week session starts soon. Get registered: www.completemortgageprocessing.com/PS2.html
--------------------------------------------------- ANSWERS FROM THE MORTGAGE TRAINER
Q. I have an underwriting condition that states it must be cleared “at close or prior to close”. It seems that it would just be easier to do everything at closing. What’s your opinion?
A. We always recommend that you go with as few “at close” conditions as possible. If the borrower forgets to bring an item or the item presented to clear the condition is unacceptable, the funding will be delayed. By submitting the information prior to close you eliminate that uncertainty.
==================================================== 1st Quarter Mortgage Industry Events
Jan. 11th MAMB Annual Meeting Robinsonville, MS Jan. 18th CAMB SGVC Conference Pasadena, CA Jan. 18th FAMB SCC Trade Show Cocoa, FL Feb. 1st FAMB Gulf Coast Ch. St. Petersburg, FL Feb. 12th NYAMB Conference Tarrytown, NY Feb. 15th FAMB Jacksonville Ch. Jacksonville, FL Feb. 20th CAMB SFPC Conference San Francisco, CA Feb. 28th CAMB Conference Anaheim, CA Mar. 1st MAMB Conference Baltimore, MD Mar. 1st FAMB SWC Trade Show Fort Meyers, FL Mar. 4th NCAMP Annual Conf. Pinehurst, NC Mar. 6th FAMB Palm Bch. Ch. W. Palm Beach, FL Mar. 8th CAMB GNC Trade Show TBD Mar. 11th MBAs 24th Annual Conf. Atlantic City, NJ Mar. 14th IAMB Mortgage Pro. Conv. Boise, ID Mar. 15th CSMB Lender’s Showcase Ledyard, CT Mar. 17th NAMB Regulatory Conf. Washington, D.C. Mar. 21st FAMB Broward Chapter Ft. Lauderdale, FL
Send us your contact information for inclusion in our 2007 Contract Processor directory for FREE!
Send an e-mail to processinghelp@aol.com with the following: Name: Company: Phone: Fax: Website url or e-mail address: Services offered: (100 words or less) ========================================== TELL US WHAT YOU THINK
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.
