Home » November 3rd, 2008
Entries posted on “November, 2008”
Does it come as a big surprise that a convicted felon?indeed, a white collar criminal?would have developed some thoughts about the topic of ethics? Probably not. Since my conviction, I have had plenty of time to ponder the idea of ethics, and I?ve conducted some research on my own about the subject. In doing so, I?ve received tons of advice. I must say, I wish I?d had this information at the beginning of my career.
In 1999 I began serving a 21 month federal prison sentence for conspiracy to commit mail and wire fraud. The crime involved four real estate investors submitting fraudulent documentation in order to get approved for residential home loans. I was their loan officer. After the first few transactions, I knew in my heart that some of the documents I accepted were fakes. Over a nine month period I gradually started participating in the profits.
November 3rd, 2008 | Posted in Archive,Articles,Featured | Read More »
Every small business owner can attest to the importance of cash flow. The amount of time it takes for a dollar to pass through your business from raw material purchases to the sale of finished goods to money in the bank is a critical factor in determining success.
According to the latest edition of the PNC Economic Outlook survey, business owners are more pessimistic about their cash flow than they were six months ago: Only 42 percent expect cash flow to increase over the next six months, compared to 51 percent last fall.
Regardless of your current cash flow situation, it is a good idea to occasionally take stock of the cash management tools at your disposal. Below are tips to help you and your commercial clients maximize cash flow and make the most of your money:
November 3rd, 2008 | Posted in Articles | Read More »
A Sustainable Future Begins With The Right Relationships
The Niche Report would like to introduce you to a new mortgage wholesale lender ? NetMore America ?who is building a next generation mortgage banker through the power of the right relationships. Mark Freedle, the CEO with the vision to start a mortgage business in a very difficult environment, gave us the opportunity to find out more about this fast growing Walla Walla, WA based mortgage lender with plans on expanding their footprint throughout the United States.
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Mark, what drove you to launch a mortgage company in such a difficult lending environment?
Mark: Back in 2005 when the mortgage business was setting production records we saw the potential for a correction in residential lending as lenders stretched underwriting standards and non-prime ARM originations increased dramatically. In February of 2006, I began putting together a group of very senior mortgage professionals with strong underwriting and secondary marketing experience to start building out our platform to be ready for the opportunity. We officially launched NetMore in the third quarter of 2007 and funded our first loan at the end of October 2007. Today, we are the fastest growing mortgage company in the Northwest, with specific plans on expanding our footprint throughout the United States over the next two years.
November 3rd, 2008 | Posted in Archive,Articles,Center Stage | Read More »
This is no secret, times are tough for many in our changing industry. How do we all keep up? I recently wrote an article on the few forms of marketing still working. What happens when you exhaust all those efforts and have truly tapped into every outlet you have? Where do you go from there? I have the answer for you, ?diversification?. I talk to a lot of folks that are currently successful in this market. Many of them have some variable of this same concept ? diversification – in their business model, and therefore, able to offer many services to each and every potential client they run into.
In order to provide quality financial services with phenomenal customer service you must have a wide array of options, in fact, the more options you have the better. In today?s market with current lending conditions, limited lenders, plummeting values, credit issues, failing banks etc? it is much harder to convert those 2 – 5 deals per month needed to maintain the same type of income generated in past years. What do you do with the folks you can?t refi? Some LOs are now doing loan modification referrals, some are also doing credit repair for their clients. My advice would be to network yourself with as many different people, from as many different areas of the financial services industry.
November 3rd, 2008 | Posted in Articles | Read More »
The traditional loan officer has faced many obstacles and has been forced to utilize every tool available to reach the masses. Instead of relying on the basic face-to-face relationship with realtors, builders and past clients, new levels of innovation has elevated the loan officer to becoming a Mortgage Market Strategist. It means thinking ?outside the box? to gain clients.
Call capture is a unique tool. For mortgage originators, the process records and tracks phone calls 24 hours a day from prospects. Call capture utilizes technology that allows more contacts with less effort.
As a means of building relationships, call capture provides an opportunity to pass qualified leads to your best referral sources. Providing solid leads to those professionals with whom you align yourself will help build your sphere of influence. It creates a tool to offer your realtors, builders and ?for sale by owners? (FSBO) prospects extended opportunities to touch your best clients.
November 3rd, 2008 | Posted in Articles | Read More »
First American CREDCO, the leading provider of credit reporting solutions to the mortgage industry and part of First Advantage Corporation (NASDAQ: FADV), today announced the replacement of eCREDCO.com, the company?s dedicated ecommerce site, with an all new integrated online ordering and marketing Web site. The new site features expanded functionality that allows customers to order and track products more efficiently and the company to develop and deliver new products faster.
The newly upgraded platform?www.CREDCO.com?features a totally improved customer purchasing experience, supported by Direct-Connect customer support, simplified account administration and real-time product tracking. Powered by the latest in Web technology, it significantly reduces product development time, optimizing First American CREDCO?s responsiveness to customer demands for timely, market-sensitive product solutions.
November 3rd, 2008 | Posted in Uncategorized | Read More »
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