How To Use NON QM Programs To Close More Loans And Finally Avoid Being Seen as Just a Head Of Lettuce.

Can we be honest with each other for a minute? I know our business can be very frustrating but do you ever feel like just another head of lettuce?
Let me explain with a story that I would bet has happened to you numerous times but you still may not be able to figure out why it happens.

You work hard and get an appointment to meet with an agent you want to do business with. During the time together you explain the excellent programs you have, how competitive your pricing model is and of course the excellent service you are able to provide to them and their clients.

The meeting goes well, at least in your mind, and you never hear from that agent again.

The problem of course is that all the agent heard was more “Blah Blah Blah” since what you said is repeated over and over again by every originator that tries to earn their business. You are in their mind just another “head of lettuce” commodity.

THE 3 STEP SOLUTION TO STANDING OUT IN THE CROWDED FIELD OF ORIGINATORS.
PICK A NICHE
BECOME THE EXPERT
LET EVERYONE KNOW ABOUT YOUR EXPERTISE.
These days everyone must have competitive rates and provide excellent service or you simply can’t remain in business. But the key to success is to focus on being seen as the expert in a niche that very few other originators are marketing to.

IT ALL SEEMS VERY COUNTER INTUITIVE – WHICH IS WHY IT WORKS!
We all try to have every program and product and that is important. But you need to become known for 1 particular area of expertise so that you stand out from the crowded field of competitors. The reality is that while you see this as limiting it actually sets you apart as a top lender and allows you to open doors that may have been closed until now.

Step 1 Pick A NICHE
Here are some great examples of niches.
– Boomerang Buyers who are now back in the market place and able to buy.
– Self employed buyers who don’t show their incomes.
– Investors who need no income verification loans.
– Small balance Commercial loans that Banks can not handle.
– Foreign Nationals that don’t meet Fannie Mae Guidelines
– Renovation Loans.

STEP 2- BECOME THE EXPERT
If you want to become the expert in this niche simply look at the various NON QM programs available and meet with the reps. Go over their guidelines and programs and also know the guidelines for FHA /VA/CONV as they pertain to your chosen niche.

When we stop and think about it we actually doing things backwards in our business. We decide to market ourselves and then we get a bunch of leads.
Then we sift thru these leads and try to find the programs best suited for them.

When you stop and think about that it truly is a bit crazy. Instead, why not look at the programs you offer. Target the best candidates for those programs and then market to them.

For example many NON QM companies offer programs for buyers who have had a recent bankruptcy, foreclosure, or short sale. Often you are able to assist them 1 day after this event.

So get a list of these motivated candidates and let them know that they are able to purchase a new home.

STEP 3- LET EVERYONE KNOW ABOUT YOUR EXPERTISE
This is actually the best part of the entire process.
You can now walk into a closed real -estate office or builder that has their own in -house company. Simply tell them you realize their company is excellent but how are they handling these types of buyers?
You can also go to local banks and credit unions and even other originators in your area who can send you these deals they are not able to handle.
Finally you are able to now teach classes at your local board of realtors and/or homebuilders or at local real estate offices and show your new area of expertise.

MY FAVORITE NICHE
My favorite niche is working with buyers who have had a bankruptcy or foreclosure. There are now 7.3 Million Boomerang buyers who had a challenge during the meltdown but are now able to purchase a home. Although many of them are not aware that they now qualify.
Even better is the fact that very very few originators are familiar with this niche so you will have very little competition.
If you are interested I have put together a very special presentation on this topic you can view at http://boomerangexpert.com/special-offer

Dedicated To Increasing Your Production
Brian Sacks
PS- What if you could quickly discover not 1 – not 2 not 3 but 48 PROVEN WAYS TO IMMEDIATELY GROW YOUR PRODUCTION? Well now you can – https://48waysbook.com/special

 

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This Always Confused Me As An Mortgage Loan Originator

I am up early this morning since I had a bad cold and am now on predisone- so tons of energy.
So I started thinking about some of the things I would like to correct that confuse me in our industry.

For example – I see a ton of NON QM Lenders advertising their programs.
1 day after bk or foreclosure or short sale  and  bank statements for those self employed buyers.

EACH SEEMS TO BE OFFERING PRETTY MUCH THE SAME PROGRAMS AND EACH JUST TRYING TO SCREAM LOUDER THEN THE NEXT.

It’s no different than us as originators.  We all pretty much have the same programs and same rates and all should be providing the same levels of service more or less.
You need to pick a niche to specialize in to break thru all that clutter !

BUT NONE OF THESE NON QM COMPANIES ARE ACTUALLY SHOWING YOU HOW TO MARKET THESE PROGRAMS FROM ORIGINATORS WHO ACTUALLY CLOSE THEM….

Guess that might not be entirely true since I DO close these loans and do have a number of creative tactics for generating them.
This thursday the 17th at 3 pm eastern I am going to share a few things about this niche.

https://attendee.gotowebinar.com/register/710854454570774018

I will cover it in depth and some of way I use to reach them and:

Why these buyers SHOULD BE YOUR NICHE
How to reach them quickly and easily
How To Generate New Realtor Relationships with these buyers

What’s interesting is that while this is one of my favorite niches- most of my business * 73%* is just good easy
deals that I generated with these new relationships.  More interesting is that the majority by far of my referrals come from these buyers who LOVE me!

I am not sure why these NON QM companies are  NOT showing us how to generate these deals but I will if you can make it Thursday at 3pm eastern. If you have been a subscriber for a while you know I don’t offer this program
often but I think it’s important for those dedicated to making 2019 a great year!

On this training I will show you the stats for this niche in 2019 – Not to be missed !
https://attendee.gotowebinar.com/register/710854454570774018
Dedicated To Increasing Your Production
Brian Sacks

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How Originators Can Use The P-I-T System to Close More Loans.

We work in a business that can often be quite frustrating for many different reasons. If your days or anything like mine than you are constantly working on the following aspects of your business every day.

BRINGING IN NEW DEALS

GETTING THE DEALS YOU HAVE CLOSED

MANAGING STAFF – even if you are a loan officer you still need to make sure your processor , closer and assistants are doing their jobs.

CREATING NEW RELATIONSHIPS AND MAINTAINING YOUR EXISTING ONES FROM POACHERS

None of this of course includes taking the applications, dealing with the day to day issues on files, and all the other issues with the people you are or have pre-qualified.

THE BEST PICTURE I COULD FIND IS A JUGGLER – WHICH IS WHAT WE ALL FEEL LIKE SOMETIMES!
LET’S COMPARE THIS TO WHAT WE WOULD LIKE….

CONSISTENT AND PREDICTABLE DEALS– NOT 5 DEALS 1 week and zero for the next 3
Agents that were loyal only to us
Staff that actually did what they needed to do and get paid to do
TRYING EVERYTHING TO MARKET YOURSELF AND “HOPING” IT WORKS

WONDERING AND PRAYING…..

It doesn’t matter where your work – banker – broker – bank -credit union -we all have the same issues.  I have had them all myself and to be perfectly transparent, I still have challenges from time to time.

But many years ago, when I was struggling and at a crossroads , I made a decision to actually stay in this crazy business that allows me – a high school graduate with no college degree- to earn more than I could doing anything else.Where else could I earn a 7 figure income working 40 hours a week?

At that time I was seriously considering leaving and trying something else 0r once and for all committing to build my mortgage business. You already know which one I choose but here’s how I made it work.

 

I CREATED P-I-T

This is going to sound very simple to you and it is which is why most don’t practice it.
Here’s what I decided to do and why I call it PIT. I will break each one down for you as well.

PLAN
IMPLEMENT
TRACK

If you are being honest with yourself you know you don’t really do this do you? You find some new “tactic” or “guru” and you decide to try what they are pushing and then you hope and prey like hell it works. And sometimes it actually does but most of the time you just feel like you were suckered one more time.

LET ME BREAK DOWN EACH PART OF P- I-T-  for you .

P is for Plan
I is for Implement
T is for Track

Maybe you do some of these or maybe you don’t but if you truly want to succeed ( I know you do ) than you need to pay attention. You might be asking why you should listen and I am not going to go into my whole story here but I have been originating since 1986 and I have also managed and coached thousands of the most successful originators in every market in the United States and Canada and a few in Australia.
Go google me and see for yourself – I am NOT the runner or realtor Brian Sacks – just an fyi

Let’s start with P- FOR PLAN
Notice I did NOT say H- for HOPE- because that is what most of us do each year.

We hope rates will not skyrocket
We hope that past clients will refer us
We hope our agents will stay loyal
We hope for a good year but HOPE will NEVER allow you to achieve your goals. In fact, hoping is what I call
VERBAL MASTURBATION. If that offends you great. Keep reading because I am going to give you the cure.

Planning means that you have a firm figure that you want to earn. Not a good year, but rather I want to ( or will) earn 120,000. You pick your number.
Now break it down
What is your average loan amount
How much do you earn per loan
Now you have REAL FIGURES and you can actually know how many loans you need to do each month and week.

EXAMPLE- Want to earn 120,000 average loan amount 250,000 earn 100 bps so you need 48 loans a year/4 month

BUT HAVING A PLAN IS NOT ENOUGH UNLESS YOU IMPLEMENT !

You need to have proven strategies that work now.
There are a couple of challenges with the implement part of P-I-T

The first issue  is know what to implement . I am probably the most easily distracted you will run into which is
why I created this plan for myself and feel the need to share it. We are bombarded daily with fake experts trying to sell us crap. Most have never ever originated a loan and have no idea if it works or not.

Others originated many years ago and have no clue of our reality today.

THINK OF YOUR MARKETING AS A CHAIR WITH 4 LEGS.
To be successful you must always have multiple ways of generating new deals. But you must control it.

So like a chair you need 4 major pillars – here are some examples
– past client referrals
– realtor referrals
– direct to consumer ( renters or others in a specific niche)
– PR – becoming a celebrity with articles -radio -tv – social media
– Employer programs
– Other professional referrals.

The other mistake many originators make is only using 1 strategy. If that strategy stops working or is no longer allowed ( think faxing or google ads or e-mail spams) you are in real trouble.

So going back to our example- You need 4 loans a month and you need to pick 4 strategies and get 1 loan per month from each strategy.

BUT WAIT WE ARE STILL NOT DONE- HERE COMES THE MOST IMPORTANT PART OF P-I-T

There  is nothing worse that sitting at your desk waiting for the phone to ring or e-mail arrive in your inbox.
NO- you must be proactive and implement your plan.
But you MUST also know what’s working and what is not. So on the first day of every month you need to go back and review ( TRACK). Did you make your goal or didn’t you?
Did what you had planned to generate new business actually generate those deals?
What worked and what did not?
Now you must go back and either tweak the strategy that didn’t work or replace it with a different one.
Unfortunately most of us don’t do this at all. Some only do this at the end of each year.
To be successful you must do it monthly.

SUCCESSFUL LOAN OFFICERS- Plan-Implement- Track- 
Use the P-I-T system to grow your production now!!!
If you would like to have 48 PROVEN Ways To Immediately Close More Loans and The Top Originator Software
to create and track please visit  http://48waysbook.com/special

Dedicated To Increasing Your Production
Brian Sacks
http://48waysbook.com/special

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