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Are Management Teams Dumbing Down Sales Standards?

Are Management Teams Dumbing Down Sales Standards?

Monday, 08 April 2019
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By Pat Sherlock In a recent conversation, a mortgage coach told me she was asked to coach an experienced originator who was considered high potential for a sales team. When the coach met with the originator, she found out the individual was only producing two units a month and only worked four days a week.… Read more...
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Ask Brian: How Do You Get Borrowers During Pre-Qualification To Share Their Information

Ask Brian: How Do You Get Borrowers During Pre-Qualification To Share Their Information

Monday, 08 April 2019
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[caption id="attachment_11630" align="aligncenter" width="185"] Brian Sacks[/caption] Dear Brian, I am having challenges getting buyers who I am pre qualifying to share accurate information with me. Any suggestions? Tammy P Detroit Dear Tammy, Thanks so much for writing in and asking your question. Of course, every originator including me has struggled with this question. Take a… Read more...
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NewRez Live with New Product, Pricing Engine

NewRez Live with New Product, Pricing Engine

Thursday, 04 April 2019
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National mortgage lender NewRez has gone live with LoanNEX, providing lenders expanded access to the lender’s non-quality mortgage and other products. With the addition of the LoanNEX platform, a pricing and eligibility engine, NewRez lenders are able to quickly and confidently find a fit across NewRez’s non-QM loan programs and serve more borrowers who don’t… Read more...
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Do Your Originators Sell As Teachers or Leaders?

Do Your Originators Sell As Teachers or Leaders?

Friday, 05 April 2019
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By Pat Sherlock Today, many sales training firms advise originators to adopt a “teaching” sales model as a way to win with a more knowledgeable customer. While this seems like a logical, reasonable approach, the sales process can be anything but. There in likes the rub. Let me explain. Originators who operate as teachers believe… Read more...
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Housing Market Reminds Bodnar of Goldilocks Fable: Not Too Hot, or Cold, But Just Right

Housing Market Reminds Bodnar of Goldilocks Fable: Not Too Hot, or Cold, But Just Right

Wednesday, 03 April 2019
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https://youtu.be/MkzfYueEr0k Hi Bill Bodnar here with the Mortgage Market Guide. Thanks for tuning in to the MMG recap. So up on the screen, you can see another week and another week of low rates. Rates continue to hover near 14-month lows. We came a little bit off the best levels last week. But again, just… Read more...
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Heard Around the Industry: Arch MI Updates RateStar

Heard Around the Industry: Arch MI Updates RateStar

Wednesday, 03 April 2019
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Arch Mortgage Insurance Company has updated their premium pricing tool, RateStar, to provide express quotes and customized pricing options through a portal. RateStar was launched 10-years ago as a tool that could evaluate individual loan risk with more precision than any rate sheet. RateStar offers a mortgage insurance buydown feature, and its buydown feature allows… Read more...
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What Can Lenders Learn from a University’s Adoption of Robots?

What Can Lenders Learn from a University’s Adoption of Robots?

Tuesday, 02 April 2019
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By Pat Sherlock A recent Washington Post article highlighted George Mason University's new program where Starship Technologies installed robots on the campus to deliver food to students. The article mentioned how successful the robots were in driving students to eat breakfast, a meal that is usually skipped 88% of the time by undergraduates. In my… Read more...
Ask the Expert: ‘True Relationships Are Never Solidified Until Things Go Wrong’

Ask the Expert: ‘True Relationships Are Never Solidified Until Things Go Wrong’

Tuesday, 02 April 2019
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[caption id="attachment_9654" align="alignleft" width="268"] Hershman: 'You can't pass the buck onto the settlement agent for mistakes made.'[/caption] By Dave Hershman I originated a loan for a previous client. The processing and approval went smoothly. I recommended a settlement company I had never used before because they had low prices. To make a long story short,… Read more...
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Ishbia on FHA, Fannie Loan Guidelines, Fed Watching, CFPB Acts to Reassure Marketplace

Ishbia on FHA, Fannie Loan Guidelines, Fed Watching, CFPB Acts to Reassure Marketplace

Monday, 01 April 2019
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https://youtu.be/kEx6UPx99Wg Hi there, I’m Mat Ishbia, president and CEO of UWM, and this is “Three Points.” First point, big FHA changes, so on March 18, 2019, FHA made some big changes for all case numbers after that date. Basically they said, ‘listen we're going to approve a lot less loans for higher DTIs and cash-out… Read more...
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Thinking Good Rates, Great Service Will Get You Business Is Simply Foolish

Thinking Good Rates, Great Service Will Get You Business Is Simply Foolish

Monday, 01 April 2019
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By Brian Sacks In honor of April Fools, I decided to dedicate this article to one of the most foolish things we do. As originators, we all make mistakes. All sales people do. But one of the biggest one’s we make is thinking that having the best rates is the only determining factor. I constantly… Read more...
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