ORLANDO, Fla. (August 18, 2008) ? Wholesale commercial lender, Trilogy Commercial Lending, LLC announced today that Dave Lilley has been appointed Sales Support Manager. In this role Dave will be responsible for facilitating production activities through the development, implementation, and management of support processes, policies, and staff.
PORT WASHINGTON, N.Y., Aug. 25, 2008 ? SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, announced a strategic alliance with San Ramon, Calif.-based CMG Mortgage, a national lending firm providing both mortgage banking and mortgage brokerage services.
Through this joint venture, CMG Mortgage?s loan products are available to originators through SML?s search and pricing platform, giving originators access to CMG?s wholesale loan products and its new Home Ownership Accelerator
NetMore America, Inc (NetMore), a next generation mortgage leader building a sustainable national platform through responsible lending, announced today the addition of Lisa Schreiber to it?s executive management team as the Company?s new Chief Strategy Officer. In this position, Lisa will be responsible for defining and implementing the Company?s vision and strategy.
–Reverse mortgage allows senior to avoid eviction–
MELVILLE, N.Y., August 15, 2008 ? Senior Lending Network
–Reverse mortgage leader prospers on Long Island due to strong workforce–
–Donates to Long Island Works Coalition–
MELVILLE, N.Y., August 13, 2008
HOUSTON, Aug. 12, 2008 ? First Houston Mortgage, a mortgage-banking firm licensed in 20 states that offers expertise in every aspect of the residential mortgage lending process, announced Residential Mortgage Consultants (RMC), a lender serving the St. Louis area for more than 10 years, as its latest affiliate branch.
This month we decided to open up this spot to Aaron Krowne, Founder of ML-Implode.com. As you may have seen over the past few weeks, Aaron has been interviewed by several mainstream news media outlets about his company and his views on the current and future mortgage markets. Aaron and his team certainly have their collective finger on the pulse of the mortgage industry and we welcome his insight below to The Niche Report.
Aaron Krowne – A year and a half on from when we at ML-Implode helped break the story about the housing market crisis, the financial sector remains in turmoil. As we predicted, the economy is tipping into recession. Many fundamental questions about how the market will repair itself and function going forward, and what the new public policies will be, remain unanswered. We don’t pretend to have all, or even many of the answers to these questions, but I’ll share a little bit below about a few things we think we /have/ figured out.
In 1964, Dr. David W Merrill and Roger Reid began research to create a model that could predict the success in selling and management careers. What the partners ended up discovering was that people’s behaviors and actions are consistent. They used a social style matrix or system to help define a person?s predictable behavior. If you know the style of your customer, you can effectively communicate and develop a relationship rapidly and with a percieved added value.
There are four styles defined: driver, expressive, amiable and analytical. The goal of an effective relationship development specialist; which is what you all are, is:
1) identify which of the four types of social styles you possess.
2) identify the type of your customer, and finally,
3) adjust your behavior to mirror or match that of your customer.
People who recognize and adjust to these behavior patterns have a better relationship with other people. There have been a myriad of studies and redevelopments in this field over the last forty years. I encourage you to research more on the topic if interested (www.wikipedia.com keywords ?social styles?). I will focus on these four styles for the purposes of this column.
The answer is YES! Figuring it out can be the hard part. Being an owner of one of the largest mortgage marketing firms, I can tell you first hand what I see working for my clients and what is not.
With referrals running out and the industry full of uproar and uncertainty, you must understand that at some point in the chaos you will have to start marketing yourself to survive the storm.
When starting any marketing campaign, you need to take into account the consumers? point of view. We all see ?For Sale? signs up everywhere, news stories about record high foreclosures, and home value?s dropping, etc. The point is that with all the negative publicity on TV, radio, online, and word of mouth, it builds fear in any consumer who is considering making a financial move on their home. It is causing an extra ?barrier? you need to break through when trying to reach these people. There are very few ways to break this barrier so I want to share with you how our clients are doing it to stay alive in these tough times.
A short-refi (short-refinance) has been around for quite a few years. Until its recent exposure, it has been said to be one of the industry?s best kept secrets. It is not common knowledge that a lien holder will accept a short-payoff of the current loan, while allowing borrowers to keep their property and refinance with a new lender. But, that is exactly what can be accomplished with some lien holders and a properly negotiated short-refi offer. You will notice that I said some and not all lien holders. This is because the final decision to accept a short-refi offer is completely in the hands of the investor on that particular mortgage. This is also true with short-sales or loan modifications. There is absolutely no company out there that can guarantee a short-refi, short-sale or loan modification will be accepted. That is one thing that the property owner should keep in mind and acknowledge upfront when hiring a third-party to perform any of these solutions. In getting short-refis completed, our company can say that we do have a 70% success rate, which gives our clients far better odds than most.
A lot of people don’t...
