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Andrew Poletto - EzineArticles.com Expert Author
Andrew has been in the Mortgage Business for over 10 years. He has experience as a loan officer, account executive, officer manager, district manager, and trainer.
His training focus is on something he calls the "Inner Game Of A Loan Officer." He is the creator of "The Mortgage Mailbag", a free publication for his colleagues of the mortgage business.
==> He is the founder and CEO of RealMortgageTraining.com.
==> His company is part of TheMortgageNation.com
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Andrew Poletto Email Alerts
- Loan Officer Training - What Do Loan Officers and NASCAR Have in Common?
[Business:Sales-Training] Loan Officers and NASCAR, what a combination. Did you know there are more similarities between the two that meets the eye?
- Loan Officer Training - The Power of One, a Loan Officer's Nightmare!
[Business:Sales-Training] A Loan Officer shouldn't worry about one deal, it's not worth it. One deal will NOT make you money in the mortgage business.
- Loan Officer Training - Don't Apologize - Yes We Make Money Being Loan Officers
[Business:Sales-Training] Hundreds of loan officers get into the mortgage business every year. Their goal is the same as yours, to make money. Don't EVER tell me you're in the mortgage business because you want to "help people" because the only way I'll believe it is if you do all your deals for free.
- Loan Officer Training - Can You Learn to Be a Loan Officer?
[Business:Sales-Training] Do you know of anyone who wanted to play Loan Officer when they were kids? Becoming an LO may not have been a glamorous profession on the playground, was it?
- Loan Officer Training - Is the Best Deal Always the Better Deal in the Mortgage Business?
[Real-Estate:Mortgage-Refinance] Are you a Loan Officer that gives the best deal possible? If so, what does that mean? How can you give the best deal possible if you don't know what the borrower wants?
- Loan Officer Training - "Getting It" is Something Every Loan Officer Should Strive to Do
[Business:Sales-Training] There are literally hundreds of articles about Loan Officer Training, a lot of which I've contributed to. The main thing you as a Loan Officer must understand is that articles are nothing more than concepts. Concepts are great, they can explain and teach you a lot, but in order for you to benefit from these concepts you'll need to apply them into your everyday mortgage business.
- Loan Officer Training - in This Microwave World, a Mortgage Broker is the Slow Cooking Oven
[Real-Estate:Mortgage-Refinance] Fast Food and microwaves dominate our society. Everyone wants this or that right away. You, as a Loan Officer, have to understand this when dealing with your borrowers.
- Loan Officer Training - Never Underestimate the Lack of Mortgage Knowledge
[Business:Sales-Training] Never underestimate the lack of knowledge the general public has when it comes to the Mortgage Business. Loan Officers need to really understand it and utilize it to their advantage in selling mortgages.
- Loan Officer Training - Get Specific When Looking For Sales For Your Mortgage Business
[Business:Sales-Training] Some Loan Officer's biggest fear is finding loans that will close. This is understandable, but how about rethinking this fear and see how you can overcome it. Let me explain; when I hear comments about this kind of fear, the one thing that stands out in my mind is that the Loan Officer is throwing a blanket over the entire borrowing world and hoping to get someone caught in his net and then hope they qualify for any mortgage program being offered.
- Loan Officer Training - Jumping to Conclusions is a Loan Officer's Kiss of Death
[Business:Sales-Training] A loan officer who assumes everyone wants a 30 year fixed mortgage won't last long in the mortgage business. Is a 30 year fixed the most popular loan out there right now? I don't know the exact figures, but I would imagine it's up near the top.
- Loan Officer Training - The Best Way to Handle Rejection
[Business:Sales-Training] Rejection is part of the mortgage business, learn to deal with it. The better you deal with it, the better your results will be.
- Loan Officer Training - Prospecting, Are You Utilizing Your Influence As a Loan Officer?
[Business:Sales-Training] Loan Officers and Prospecting for borrowers. The two go hand in hand but a lot of Loan Officers don't really know how to effectively prospect, do you?
- Loan Officer Training - Are You Utilizing Newsletter For Your Mortgage Loan Officer Business?
[Business:Sales-Training] Loan Officers who send out newsletters to their past clients have an advantage, they keep their name out there. Ever think about taking it a step further?
- Loan Officer Training - Do You Have Pride in Yourself As a Loan Officer?
[Business:Sales-Training] Loan Officers who take pride in themselves are set apart from a LOT of their competition. Is that you?
- Loan Officer Training - Cars & Real Estate, How A Loan Officer Has To Understand The Difference
[Business:Sales-Training] Loan Officers, learn to understand the purpose of someone being in their home. This is a big plus when differentiating yourself from your competition.
- Loan Officer Training - Lack of Production, How Can a Loan Officer Overcome a Drought
[Business:Sales-Training] Production is a key for Loan Officers. You need to be aware of what you're doing, then you can improve on it.
- Loan Officer Training - Can A Loan Officer Answer A Question About A Giraffe?
[Business:Sales-Training] I have a question for every Loan Officer that reads this: How do you put a giraffe into a refrigerator? Right away you're wondering what am I talking about. Well, I was recently listening to a seminar and the speaker asked that question?
- Loan Officer Training - Facing Fear As A Loan Officer
[Business:Sales-Training] Every Loan Officer has a fear of something in the mortgage business. The thing to do is figure out how to overcome this fear.
- Loan Officer Training - The Easiest Way For A Loan Officer To Achieve Repeat Success
[Business:Sales-Training] Loan Officers are always looking for the one tip that will help them close every loan. They seek out that one program that will instantly bring borrowers to their door. They will try a new script everyday because yesterday's didn't work for them.
- Loan Officer Training - Paying Attention To Non Mortgage Items Can Make You A Better Loan Officer
[Business:Sales-Training] As Loan Officers, we are constantly in search of the perfect marketing technique. What's the best think out there than will work for me? Believe it or not, one of the best pieces of research you can do for yourself is literally right at your fingertips.
- Loan Officer Training - The Ultimate Technique For Loan Officers
[Business:Sales-Training] Hey Loan Officers, have you ever just stopped to think of what used to get you all pumped up when you were younger? Maybe your favorite song, maybe a television show you used to like? Have you ever did some research just to relive some of these feelings?
- Loan Officer Training - Making Mistakes Is A Great Way To Grow Your Mortgage Business
[Business:Sales-Training] I heard this phrase once: "It's not our mistakes that define us, it's what we do afterwards that counts the most." That is one powerful statement, don't ya think? If you dwell on what you did that resulted in something other than success, that's not exactly a bad thing, as long as you re-attempt what you did and look for different results.
- Loan Officer Training - Soft Market, Strong Market, It Doesn't Matter If You Want To Make Money
[Business:Sales-Training] In terms of the "Inner Game", staying focused has nothing to do with current market conditions. If the market is soft and the phone isn't ringing, your mind can wonder away from doing what you need to do to get more business. If the market is strong, the phone is constantly ringing and your mind can wonder away from doing what you need to do to get more business.
- Loan Officer Training - How Daydreaming Can Make You A Successful Loan Officer
[Business:Sales-Training] Are you a Loan Officer that sometimes sits at a desk and just thinks about "what if..."? Well, don't think that's a bad thing because you could be on to something by doing that.
- Loan Officer Training - Feeling Right Is A Learned Trait Of A Successful Loan Officer
[Business:Sales-Training] Have you ever said something like this, "That's not me, I can't do that. It's not my natural personality, it doesn't "feel right." If you have said that, then this next statement will blow you away and chances are you've never heard said like this either.
- Loan Officer Training - Success Leaves Clues, Even For Loan Officers!
[Business:Sales-Training] Loan Officers are constantly looking to gain that edge, to find that magic widget, to make the whole process easier for them. Guess what, they hardly ever find it. Why is that?
- Loan Officer Training - Finally, The Secrets From The Pro's Revealed To All Loan Officers
[Business:Sales-Training] Loan Officers, find out what the Real Mortgage Pro's can teach you. Learn to walk in their footsteps and watch your mortgage business grow!
- Loan Officer Training - Are You Utilizing Your Natural Skill To Grow Your Mortgage Business?
[Business:Sales-Training] No matter who you are, you probably have some sort of "natural skill" hard wired into your brain. Natural ability can be defined as some kind of activity you do that just comes easy for you. Some folks are good with numbers, some folks find it easy talking with strangers, some are in tune to the fine details within documentation.
- Loan Officer Training - There Are No Victims In The World Of Loan Officers
[Business:Sales-Training] I was with someone the other day who was not a Loan Officer, but the conversation did get me thinking about people within the mortgage industry. The conversation was about personal appearance, but I won't get into detail about it. Anyway, from that small conversation I started thinking about how Loan Officers think about their personal business and what I've heard in the past from different LO's.
- Loan Officer Training - Are You The Loan Officer That Interacts or Interrogates?
[Business:Sales-Training] Loan Officers, how are you interacting with your borrowers? Are you asking questions or are you carrying on a conversation?
- Loan Officer Training - Skills, The Real Technique Of A Loan Officer
[Business:Sales-Training] What are you focusing on as a Loan Officer? The latest script that someone develop or how you can implement that script into your business?
- Loan Officer Training - What Kind Of Value Do Loan Officers Give?
[Business:Sales-Training] Value is one of those intangible items that people think they know, but do they? Do you as a Loan Officer know what great value is to your borrower?
- Loan Officer Training - The Loan Officer That Doesn't Have Enough Time
[Business:Sales-Training] Are you a Loan Officer that has ever said, "I don't have enough time"? Have you stopped and really thought about what message you're sending when you say that?
- Loan Officer Training - The Best Way For A Loan Officer To Invest
[Business:Sales-Training] What's the best investment a Loan Officer can make? If you don't know the answer, maybe it's time you find out.
- Loan Officer Training - Focus, Focus, Focus!
[Business:Sales-Training] If you're a Loan Officer, what do you want from the mortgage business? What do you focus on?
- Loan Officer Training - Do You Change To Adapt Or Do You Adapt To The Change?
[Business:Sales-Training] This is a constantly changing market. Are you a Loan Officer that keeps up with the changes?
- Loan Officer Training - Train Yourself How To Bring In More Mortgage Business
[Business:Sales-Training] Loan Officers who focus on the wrong thing may not be in the mortgage business very long. Train yourself what to look for and what NOT to focus on to bring in more business.
- Loan Officer Training - What You Want May Not Be Enough To Make You A Successful Loan Officer
[Business:Sales-Training] Loan Officers, why are you doing this business? To pay your bills? Is that what's really motivating you? Think about it, why are you in the mortgage business?
- Loan Officer Training - A Frustrated Loan Officer's Story
[Business:Sales-Training] Being frustrated is one of the obstacles that almost every Loan Officer goes through. Can you overcome it?
- Loan Officer Training - Being A Loan Officer Is A Lot Like Being A Baby Elephant
[Business:Sales-Training] An elephant is one of the most powerful animals on the planet. BUT, a little rope around his ankle will keep him at bay. How does this relate to a Loan Officer? You're about to find out.
- Loan Officer Training - Can A Smile Bring In More Business?
[Business:Sales-Training] Loan Officers need to learn to smile more. When you're smiling, people feel at ease. When people like you, they remember you. And to grow your business, you want people to remember you, right?
- Loan Officer Training - Just Like Buying A Vehicle
[Business:Sales-Training] How important is Word Of Mouth for Loan Officers in the Mortgage Business? Can you get good reviews on websites OTHER than yours?
- Loan Officer Training - It's All About Attitude, Baby!
[Business:Sales-Training] Loan Officers are bombarded everyday with "Positive thinking stuff", but do they really understand it? What about attitude? Who controls your attitude?
- Loan Officer Training - The Hope Of A Loan Officer
[Business:Sales-Training] Hope is a strange thing, it can do funny things to people. But hope alone cannot make anything happen, there is something else that needs to be thrown into the mix.
- Loan Officer Training - The Right Way For A Loan Officer To Do The Mortgage Business
[Real-Estate:Mortgage-Refinance] Most Loan Officers, when they first get in the mortgage business, always want reassurance they're doing the right thing. If they don't get the reassurance, they tend to back off from what they are currently doing and eventually, may even stop doing anything! When they stop doing anything, they won't have business and therefore, the won't make any money.
- Loan Officer Training - The Best Way To Eliminate Loan Officer Stress
[Business:Sales-Training] There is one sure fire way to eliminate stress from being a Loan Officer in the Mortgage Business. Do you know what it is?
- Loan Officer Training - Are You a Drive By Loan Officer?
[Business:Sales-Training] A Drive By Loan Officer is NOT a label you want to have. Take pride in what you do and how you do it in the mortgage business.
- Loan Officer Training - What Is Your Focus In The Mortgage Business?
[Business:Sales-Training] The emotional roller coast of the Mortgage business can drive any Loan Officer crazy. What can you do about it? Change your thoughts and then check the results.
- Loan Officer Training - Greed - Is It Good Or Bad For Loan Officers
[Business:Sales-Training] Think about it..we, as Loan Officers, are in this business primarily for one thing, to make money! To some that may be a bit harsh, but that's the bottom line. I find it very hard to believe that Loan Officers who don't make money in this business stay in it because "they like it."
- Loan Officer Training - What Do Chicken Wings Have To Do With Loan Officers?
[Business:Sales-Training] Everyday observations can really add to a Loan Officers success in the Mortgage World. Did you ever wonder how?
- Loan Officer Training - Borrowers Don't Buy Complicated, Learn To Not Be Complicated
[Business:Sales-Training] Don't make things complicated for your borrowers! Most borrowers want nothing more than a rate quote.
- Loan Officer Training - A Great Tip For A New Loan Officer
[Business:Sales-Training] Nike's slogan was so simplistic, it was ingenious. "Just Do It!" Who would have thought that one slogan would be a catalyst for a LOT of successful businesses. This is especially true for a new Loan Officer, or a veteran who's business has come to a halt.
- Loan Officer Training - The Best Way To Kill Your Mortgage Business
[Business:Sales-Training] Loan Officers all across the country want their business to flourish, which is natural, right? After all, who in the world would want their business to do nothing and eventually fall apart, right? I heard this statement the other day and it made perfect sense to me.
- Loan Officer Training - Pre-Quals and Pre-Approvals, Do Loan Officers Know The Difference?
[Business:Sales-Training] Loan Officers that just get a number from their clients and give them a Pre-Qual are really missing the boat. Is this you?
- Loan Officer Training - A Strategy That Could Explode Your Mortgage Business
[Business:Sales-Training] Several strategies can get Loan Officers to jumpstart their business. It all starts with one little thing that needs to be done.
- Loan Officer Training - You're Nothing More Than The Next Loan Officer
[Business:Sales-Training] One of the hardest things for a Loan Officer to understand is he's not the only game in town. In other words, there are a LOT of Loan Officers, no matter which city or state you're in. The thing to understand is a Loan Officer is nothing more than a mouth piece for the next potential client.
- Loan Officer Training - What's The Difference Between Right And Wrong In The Mortgage Business?
[Business:Sales-Training] In the world of a Loan Officer, there is no doing something right or doing something wrong. Ethics is another topic though.
- Loan Officer Training - Don't Let Number Crunchers Intimidate Your Mortgage Business
[Business:Sales-Training] Professional Number Crunchers and Engineers can be a bit intimidating for a new Loan Officer. These professions question anything and everything when it comes to numbers, that's their job. Bottom line, they are another client in your bag of clients. Believe it or not, those professions can turn out to be a Loan Officer's biggest cheerleaders. Just go with the flow and make a friend.
- Loan Officer Training - Concepts Are Great, But Mortgage Experience Is The Best Teacher
[Business:Sales-Training] Loan Officers who seek out training from other experienced Loan Officers are few and far between. Using a phone book and a telephone is NOT the quickest way to achieve great heights in the Mortgage Business.
- Loan Officer Training - Are You Just Another Typical Loan Officer With The Way You Speak?
[Business:Sales-Training] Loan Officer Training is not always about mortgage products and techniques. Sometimes a basic conversation is all it takes to turn the average borrower off. Are you willing to find out what it takes to NOT have that happen?
- Loan Officer Training - This Is The Perfect Time For Loan Officers To Make Big Money!
[Business:Sales-Training] Loan Officers who slack in any particular month just don't get it. Whether it's December or May, there is always something to do to explode your business. Do you know what to do?
- Loan Officer Training - Are You Open Or Closed For Business?
[Business:Sales-Training] A good Loan Officer should know the difference between an open end question and a closed end question. It's not a cut and dry thing.
- Loan Officer Training - Here's A Strategy For Loan Officers - Don't Do Everything
[Business:Sales-Training] When you were not a Loan Officer, did you pay attention to radio/tv ads? Did they all seem the same to you? Now that you're in the business, what are you doing differently?
- Loan Officer Trainig - Failure Is An Option Especially If You Want To Succeed In The Mortgage Biz
[Business:Sales-Training] There is a way to eliminate failure. Are you a Loan Officer that has learned how?
- Loan Officer Training - What Vision Quest Can Teach You About The Mortgage Business
[Business:Sales-Training] Have you ever seen the movie "Vision Quest"? It is a great movie from the 80's. It's about a high school wrestler who wants to wrestle one of the best guys in the state. I won't go into details, but the movie is a great story of focus determination.
- Loan Officer Training - It's Not The Borrowers Fault, They Do What They Know - Do Loan Officers?
[Business:Sales-Training] Believe it or not, some Loan Officers actually get mad when people ask that question. I could never understand why that is. Since we're in the business, of course we know that's not the right questions to ask. Some LO's know how to counter that question as well. Like just about everything in the mortgage business, it gets easier with age and repetition.
- Loan Officer Training - Here Is The Absolute Best Way To Close More Mortgage Deals
[Business:Sales-Training] If you're a Loan Officer or Mortgage Broker doing sales because it's something to do, you'll never succeed. You may close loans, but you'll never get to where you want to be.
- Loan Officer Training - Business Cards, Giving Too Much Info Or Not?
[Business:Sales-Training] Is there a difference from Loan Officers who give out their personal contact info from the Loan Officers that don't? I had a conversation with a Loan Officer over what contact info should be listed on your business card. This discussion had two sides presented...
- Loan Officer Training - Please Understand It Is NOT A Numbers Game! Especially In The Mortgage Biz
[Business:Sales-Training] Once I heard that, this "it's all a numbers game" statement was totally bogus to me in it's current state. Oh I'm sure if you look at the numbers on a grand scale, the percentages come out, but I was thinking of them on a different scale.....MINE!
- Mortgage Brokers - Being The Cheapest In Your Market Will Make You Broke!
[Business:Sales-Training] Does anyone remember the Yugo? What's the status of the Yugo Corporation today? Are you a Loan Officer that is using the same philosophy as the Yugo?
- Loan Officer Training - A Simple Change In Your Thinking Can Turn You Into A Mortgage Rock Star
[Business:Sales-Training] If you're a Loan Officer, learn to make different changes in what you're doing. The simplest change can be a major difference in your paycheck.
- Loan Officer Training - Selling What No One Wants Can Make Money In The Mortgage Business
[Business:Sales-Training] The best marketing story in the world has got to be Sears. They have sold millions of drills over the years. But they sold them to people who never wanted a drill. Ever wonder why?
- Loan Officer Training - What's Your Reason For Getting In The Mortgage Business?
[Business:Sales-Training] I love it when a Loan Officer tells me he's in the Mortgage Business to help people. I just start chuckling now when I hear it. Of course, I used to say it all the time as well. Then I got an epiphany, a satori if you will, and instant awakening one day.
- Loan Officer Training - The One Thing Loan Officers Do To Become Stars In The Mortgage Business
[Real-Estate:Mortgage-Refinance] Loan Officers that don't change with the business may get left behind. Will that be you?
- Loan Officers - Ever Think About What It Takes To Get Lucky In the Mortgage Business?
[Real-Estate:Mortgage-Refinance] Did you know, the luckier a Loan Officer is, the more business he has? Why do you think that Loan Officer is Luckier than everyone else?
- Loan Officers - The Tale Of The Average Mortgage Loan Officer
[Real-Estate:Mortgage-Refinance] I once talked to a Loan Officer whose only goal was to close more loans. He had a plan he told me. He was going to send out postcards and mailers then follow up with phone calls asking the client if they wanted to refinance.
- Loan Officer Training - Don't Make The Mortgage Business Harder For Yourself, Learn To KISS
[Business:Sales-Training] The more Loan Officers I speak with, the more it becomes obvious to me what a major issue is in the mortgage industry. I was at a restaurant the other day and overheard someone talking to someone else about mortgages. As I listened, I realized it was a Loan Officer presenting his mortgage ideas to a potential client. The formalities they were using with each other made it obvious they were not long time buddies.
- Loan Officer Training - I Challenge You To Try Something In The Mortgage Business
[Business:Sales-Training] I challenge all Loan Officers or Mortgage Brokers to try doing something in the mortgage business. Loan Officers, have you ever said to yourself, "That looks like it might work, I think I'll try it." I'm sure you have. As a matter of fact, I'll bet almost every Loan Officer and Mortgage Broker has said that at one time or another, I know I have.
- Loan Officer Training - High Standards Yield High Results In The Mortgage Business
[Business:Sales-Training] If you want high results as a Loan Officer, you have to set high standards in the Mortgage business. Someone once told me you have to have no fear of loss in life. That really changed my whole perspective in the sales world when I heard that.
- Mortgage Brokers - Do You Know The 3 Words That Can Stop A Conversation With Your Borrower?
[Real-Estate:Mortgage-Refinance] Three words can stop a sales conversation in this business quicker than just about any business out there. Mortgage Brokers need to know how to handle it and use it to there favor. Can you?
- Loan Officer Training - The Mortgage Business Has Provided A Built In Holiday Gift Just For You
[Real-Estate:Mortgage-Refinance] Loan Officers, like everyone one, like to get gifts, especially during the holiday season. Did you know this business has given you a built in gift this year?
- Mortgage Broker - Do You Know What The Sweet Spot Is In The Mortgage Business?
[Real-Estate:Mortgage-Refinance] Ah, the sweet spot. In baseball, it's said to be the part of the bat when it hits the ball the batter doesn't feel it and there is a sweet sound being made. Can a mortgage broker find it within his business?
- Loan Officers - Is Bad Publicity Worth One Commission Check? Don't Make Being A Loan Officer Tougher
[Business:Sales-Training] Hey Loan Officers, is it better to get 1 commission check and an unhappy borrower or no commission check and a borrower who forgets you? What it all boils down to is how do YOU want to be perceived in the business? Oh sure, we're all here to make money, but how we make it is the issue.
- Loan Officers - What You Want Doesn't Work - Change Your Strategy To Sell More Mortgages
[Business:Sales-Training] Most Loan Officers in this business think they are the center of their business. They recommend a product, sell it, and that's the best solution for the borrower. Oh, how not true that is!
- Mortgage Brokers - Are You Learning the Mortgage Business With Self Help or Shelf Help?
[Business:Sales-Training] Hey Loan Officers, are your shelves in your office full of mortgage learning stuff? If so, why is that? Are you studying Self Help or Shelf Help?
- Loan Officers - Having Faith In The Mortgage Business Is NOT A Jedi Mind Trick
[Business:Sales-Training] Get yourself in a position to take advantage of the Mortgage Brokers and Loan Officers who don't have the same faith and belief as you. Know what you got and what you can do.
- Mortgage Brokers - 40 And 50 Year Mortgages - Are You Kidding Me?
[Business:Sales-Training] Loan Officers, are you wanting to benefit the borrower? Are you selling a 40 or 50 year mortgage? You may want to really think about what you're doing before you sell those products.
- Mortgage Brokers - To Power Point or Not To Power Point
[Business:Sales-Training] Power Point presenting is not a good way to sell mortgages. There are too many unknowns that can happen and having a pre-programed presentation may not serve you well.
- Mortgage - Loan Officers Who Think Differently Will Have Different Levels Of Income
[Real-Estate:Mortgage-Refinance] Growing as a Loan Officer can be as simple as changing your thoughts. BUT, just because your thoughts change doesn't mean your actions should stay the same.
- Mortgage Broker-Loan Officers - Making Money In This Business Is Entirely Up To You
[Business:Sales-Training] If you're a Loan Officer or Mortgage Broker, is what you're doing working to produce a good income? If so, great. If not, you may want to change something.
- Loan Officers - Don't Make Commitments - Set Goals
[Business:Sales-Training] In the mortgage business, there are too many things you cannot control, so making a commitment to dollars funded is quite difficult. You best you can do is control what you can do.
- Loan Officers & Mortgage Brokers - Here's The Best Excuse To Use When You Can't Get The Deal Done
[Real-Estate:Mortgage-Refinance] If you've spent any time as a Loan Officer or Mortgage Broker, you have had some dealing with a closing not going well, or the client not understanding the option arm, or something happening just plain and simple wasn't anything you could control. Since you can't control it, try to do this.
- Mortgage Brokers & Loan Officers - The Training Philosophy - Making The Better, Better
[Business:Sales-Training] Ever try this philosophy, bring the things you like to the forefront, minimize the things you're not good at. When it comes to Mortgage Brokers and Loan Officers, this may be something to think about.
- Loan Officers - Are You Whining Or Winning? Quit With One, Survive With The Other
[Real-Estate:Mortgage-Refinance] There is constant change in this business. Whether it be the Option Arm situation, the changing underwriting guides situation or just dealing with all the industry closings, your job is STILL to close loans.
- Mortgage Brokers - The Number Of Mortgage Products Do Not Impress Your Clients
[Real-Estate:Mortgage-Refinance] Sometimes the more mortgage products you have at your disposal the worse off you are. What are you saying about it?
- Mortgage Brokers And Loan Officers - Are Your Skills Dictating Your Mortgage Business?
[Real-Estate:Mortgage-Refinance] With all the talk about the Real Estate business being on a decline, how are you handling it? Why are some mortgage folks making money and others are going bankrupt? What's the bottom line? What are you doing about it?
- Mortgage Brokers and Loan Officers Are Not Created Equal
[Real-Estate:Mortgage-Refinance] Yes, we're all in the mortgage business, but we all don't work the same way. Depending on what part of the country you're from, your marketing and sales will be completely different.
- Loan Officers - How Do You See Yourself Selling Option Arms & Fixed Rates Mortgages
[Real-Estate:Mortgage-Refinance] Ever present the Pay Option Arm to someone and they didn't get it and you wondered why? What about fixed rate mortgage, same question. You, as a loan officer or mortgage broker, need to understand what it is you are selling. Not so much product wise, but presentation wise.
- Fraud In The Mortgage World, Where Is It? Is The Option Arm A Fraud Product?
[Real-Estate:Mortgage-Refinance] No one claims to be dishonest, especially when selling the Option Arm. Then why do we hear of brokers closing their doors? Or laying off workers? Or worse yet, going to jail?
- Loan Officer - Know Your Target Audience - Are You Prepared For Them?
[Real-Estate:Mortgage-Refinance] Remember this, no one is more important than your target audience. Once you understand this, your marketing will be more focused and your sales should go up. Whether it's an Adjustable, Option Arm, or fixed rate, get focused on the product and your target audience.
- Loan Officers - Success In The Mortgage Business Is A Frame Of Mind
[Real-Estate:Mortgage-Refinance] Loan Officers, You CAN be successful in the mortgage business, but you have to believe AND create action to back up your belief. Once you start doing that, the sky's the limit for you.
- Loan Officers - Do You Feel The Vibe About The Pay Option Arm?
[Real-Estate:Mortgage-Refinance] The Option Arm - it is NOT a sub prime product. Too many Loan Officers and Mortgage Brokers look at this product as something for the 90% ltv and about and the 600 credit score and below. This couldn't be further from the truth.
- Dancing With Your Mortgage Broker
[Real-Estate:Mortgage-Refinance] Did you ever stop to think that being in the mortgage business is a lot like being a dancer? If you really want to take charge, you have to learn how to lead. It sounds simple, but is it really? Only you can decide.
- Loan Officers - Can You Get Committed In The Mortgage Business?
[Real-Estate:Mortgage-Refinance] If you're gonna commit to something, then do it. Don't wait for anyone else, don't look at anyone else. Pull your boots straps tight and go for it!
- Mortgage Brokers - The Option Arm - Are You Selling It The Right Way Or Wrong Way?
[Business:Sales-Training] Just because there are different ways to sell the Option Arm doesn't make one "right" and one "wrong". As long as you do it honestly and ethically, there cannot be a wrong way to sell it.
- Loan Officers - Something To Really Think About Before Selling The Option Arm
[Real-Estate:Mortgage-Refinance] The Option Arm should NOT be sold to people in financial trouble. It should NOT be sold to people who can only afford the minimum payment. It should NOT be sold to people with less than 20% equity.
- Loan Officers - Do You Offer Cheap Customer Mortgage Service?
[Real-Estate:Mortgage-Refinance] A lot of companies say they have the "best customer service around", they are number 1 when it comes to customer service. In the mortgage business, that basically means "so what?" When you think about, there really isn't much customer service to have to deal with in the mortgage industry.
- Loan Officers, Would You Invest To Purchase An Option Arm?
[Real-Estate:Mortgage-Refinance] This is getting ridiculous. It seems I can't turn on my computer with reading someone's post about "how bad the Pay Option Arm is" to the consumer. Why is this ridiculous?
- Loan Officers, Closers, Title Reps And The Option Arm
[Real-Estate:Mortgage-Refinance] You can't assume Closers understand the Pay Option Arm. Remember, you are depending on Your client to gain referrals, don't let someone else stop the process.
- Option Arm - How To Convince Your Borrowers To Get A Mortgage
[Real-Estate:Mortgage-Refinance] That's why they called, to get a mortgage. Your job, at least mortgage wise, is already done for you. It's a built in advantage we all have in this business. People call you prepared to get a mortgage.
- Option Arm - Your Borrower's Objection To The Option Arm
[Real-Estate:Mortgage-Refinance] Almost every objection you get when presenting the Pay Option Arm properly will be a version of two simple objections, do you know what they are?
- Option Arm - Broker Objection - I Don't Like The Option Arm
[Real-Estate:Mortgage-Refinance] What's wrong with gaining more knowledge of different products in this industry? If you feel the Pay Option Arm is only sold because of the minimum payment, you are only slightly right.
- Loan Officers - Mindsets To Selling The Pay Option Arm
[Business:Sales-Training] Generally speaking, if rate was that important, credit cards would not be as high as they are. If payments were not that important, cars would not be financed for 60 months.
- Don't Be Scared Of The Pay Option Arm
[Real-Estate:Mortgage-Refinance] Since all the hub-bub about the Pay Option Arm lately, a lot of LO's and Brokers have kind of shied away from it. Contrary to popular believe, I actually think the hesitancy comes from Mortgage Folks having some objections towards the POA, not so much the borrowers.
- Why Do People Refinance?
[Real-Estate:Mortgage-Refinance] Why do people get mortgages? As far as I can tell, every answer can fit into one of three categories...
- Financial Planners Can Be Funny
[Real-Estate:Mortgage-Refinance] A Financial Planner can't understand why someone would get a mortgage where then balance has a chance of going up, but has no problem being in a loan for a vehicle that has a higher balance than the vehicle is worth! This is just funny to me.
- Why Always the Minimum Payment?
[Real-Estate:Mortgage-Refinance] If you solely sell the Option Arm based on the minimum payment and nothing else, you will sell this loan. BUT, you will not have the same long term referral effects as you would if you sold it on your knowledge of the product and the mechanics of the product
- The Option Arm Is NOT A Sub Prime Product
[Real-Estate:Mortgage-Refinance] I have sold this product to more 700+ score borrowers than below 700 score borrowers. This type of clientele are usually not the ones that fall into the foreclosure arena, wouldn't you agree?
- A Challenge For Mortgage Folks
[Real-Estate:Mortgage-Refinance] For those of you that have been around for a while, you know what I'm all about. It's much more than the Pay Option Arm, it's about succeeding in an industry where only a small percentage of people succeed.
- Loan Officers - Option Arm - Mix Gasoline With Your Mortgage
[Real-Estate:Mortgage-Refinance] So, now you come along and tell someone you can show them how to free up $200-$500 a month by utilizing the Pay Option Arm. You would think they would just flip out, jump on the table and say "Whoo Hoo!"
- Solving The Mortgage Puzzle
[Real-Estate:Mortgage-Refinance] We, as mortgage people, have to put the pieces of this jigsaw puzzle we call mortgages together in the most efficient way possible. In order to do this, we have to know what the pieces of the puzzle are
- Can You Achieve Effortless Perfection In The Mortgage Business?
[Real-Estate:Mortgage-Refinance] The whole purpose of this article is to make you aware that, although you might think the Pay Option Arm is simple to explain, it really isn't. Because there are so many different pieces and parameters of the POA, most brokers have no clue about what they are taking about.
- Hey Mortgage Folks, Let The Tiger Out!
[Real-Estate:Mortgage-Refinance] For the people that are hung up on the Pay Option Arm and think it's, for lack of a better term, a bad product, need to expand the bars in their mind a bit and let the Pay Option Arm out of that mental cage they have.
- The Lower-Lows And The Higher-Highs Of The Pay Option Arm
[Real-Estate:Mortgage-Refinance] What rises must fall. If you can't explain the Lower-Lows and Higher-Highs to your borrower, you had better learn it...quickly!
- What a Mortgage Pro Can Learn From Tony Robbins
[Real-Estate:Mortgage-Refinance] "Knowledge is NOT power, knowledge is POTENTIAL power." I took this to mean that just because you have the know-how doesn't mean anything. You have to APPLY this know-how in order for it to benefit you.
- The Mortgage Broker and Beethoven's Music
[Real-Estate:Mortgage-Refinance] What's the use of having products if you can't figure them out? Everything does NOT have to be confusing. Sometimes you gotta believe that less is more!
- How To Sell Against The Pay Option Arm Mortgage
[Real-Estate:Mortgage-Refinance] Hey Mortgage Folks, with all the competition there is out in the market place, have you ever asked yourself - "How does one sell against the negative amortization perceptions with the Pay Option Arm?"
- Loan Officers - How Do You Stay In Control?
[Business:Sales-Training] Is it an easier to sell the Pay Option Arm face to face or over the phone? IMHO, it's best face to face, because you can always react to body language and cater to what the client's reaction is. Remember, to sell properly in this business, you MUST be in control.
- Fixed Rate vs Adjustable Rate vs Pay Option Arm
[Real-Estate:Mortgage-Refinance] I'm sure the question "Why should I get an Adjustable Rate Mortgage when I can get a 30 year fixed rate at XX interest rate?" has been asked about a zillion times ever since the two types of mortgage were pitted against each other. Of course, no matter what anyone ever says or does, there will always be advantages and disadvantages on both sides.
- Fear and the Mortgage Broker
[Real-Estate:Mortgage-Refinance] I'll even take it a bit further, it's not so much the Fear that's causing the concern, it's the fear of losing the deal. Here's a big tip, you need to develop a NO FEAR OF LOSS attitude.
- Mortgages Brokers, What Are You Worth?
[Real-Estate:Mortgage-Refinance] Being a Loan Officer is one of the few careers where it can be said you get paid exactly what you're worth. In other words, your income is directly based on what you do or have done. It's entirely up to you as to what direction your business goes.
- Handling Objections with the Option Arm
[Real-Estate:Mortgage-Refinance] Nowadays, there are hundreds of Loan Officers and Mortgage people who have the Pay Option Arm at their disposal, but there are very few that actually know and understand how to sell it, the right way.
- Mortgage Professionals, Do You Know What You're Saying?
[Real-Estate:Mortgage-Refinance] What do you do that's automatic, or no conscience thought, in your office? I'm about to answer that question for a huge majority of you. You probably do this dozens of times a day and don't realize your doing it. Don't worry though, it's not a bad thing.
- The Mortgage Pro and the Better Deal
[Real-Estate:Mortgage-Refinance] If you believe the Pay Option Arm is a "better deal" for seasonal work people, then it is. If you believe the Pay Option Arm is a "better deal" for commissioned sales people, then it is. If you believe the Pay Option Arm is a "better deal" for the more sophisticated borrower, then it is.
- Mortgage Professional or Blind Dog?
[Real-Estate:Mortgage-Refinance] Better yet, did you understand the whole concept of the Pay Option Arm when you first heard about it? Remember, you have a background in the mortgage world, the average client does not.
- Mortgage People, Set Yourself Apart!
[Real-Estate:Mortgage-Refinance] What are most of us attempting to accomplish in this business? To close loans, right? What happens when you close more loan? You make more money! If you're having success doing it one way, why not build on that success/strength?
- Learn to Understand and Sell the Pay Option ARM
[Real-Estate:Mortgage-Refinance] I wanted to put this out there so others can get a taste of my writing style (and of course some self promotion). I also have a FREE weekly newsletter called "The Mortgage Mailbag" where I answer questions and give advice, in my own words, on the Pay Option Arm and the mortgage business in general.
- The Option Arm - Can You Sell It In A Simple Way?
[Real-Estate:Mortgage-Refinance] What are we trying to get accomplished in the mortgage business? Simple, we are trying to close loans. Why is that good? Because we get paid when loans closed, plain and simple.
- The Index and the Pay Option Arm
[Real-Estate:Mortgage-Refinance] The Index, some would say it's the heart and soul of the Option Arm. Some Loan Officers say it's better to use an Index that has gone historically lower than others. Some LO's haven't a clue as to what the Index is, so they just choose the one that has the lowest interest rate at the time of the deal they're making.
- Only You Can Be The Mortgage Broker
[Real-Estate:Mortgage-Refinance] It's funny to me how people can sit there and complain they don't have any business coming in but at the same time can have a 2 hour conversation about the latest 1 hour Survivor episode. They don't have time to sell because they are so busy, but they can quote me every stat of every player on their fantasy football team. THEN, they complain because they aren't making enough money.
- Can You Gain Equity with a Pay Option Arm or Interest Only Mortgage?
[Real-Estate:Mortgage-Refinance] Gaining Equity by using the Pay Option Arm can be tricky if not understood properly. The best way to understand is to learn from others who understand it. Read this article to find out more.
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