AIME Podcast Network

Latest Episodes:

Prepping for Purchase Season: Rising Mortgage Interest Rates with a Referral Business – (With Matt Newman) – Episode 109 Mar 29, 2022

Show notes

Newman Mortgage Group‘s President and Founder, Matt Newman, began his career as a meteorologist. Realizing he was not fulfilled, he obtained his real estate license in 2006, survived the 2008 crash, then reevaluated his path in 2012. He joined Silverton Mortgage Specialists, Inc. as a loan officer in 2017 then opened his brokerage the same year.

Matt enjoys being a mortgage broker the most. “What I enjoy most is holding someone’s hand through the financial aspect of the transaction.” Matt advises new brokers, including those coming from retail, to “Find someone in the community that matches your style.” With rising mortgage interest rates and borrowers, “It’s all about setting up that expectation upfront.”

Matt utilized his past client base as a real estate agent to become a 100% referral mortgage broker. A low housing inventory in the market allows Matt to compete with large mortgage companies and banks. “[You should go] at it with a heavy consultative model… it’s very critical in this market, leading to referrals.” Additionally, the listing agent is his target since he will be introduced to the buyer’s agent. Many of his referrals have also come from the Brokers Are Better Facebook group.

Hear more advice from Matt Newman now.

Notes:

1:45: Intro
7:00: Creating a 100% Referral-Based Business
11:50: Tackling Interest Rates on the Rise
16:00: Pitching New Products
18:40: What’s In My Tech Stack?
29:00: Advice To New Mortgage Brokers

This episode is sponsored by UWM

The post Prepping for Purchase Season: Rising Mortgage Interest Rates with a Referral Business – (With Matt Newman) – Episode 109 appeared first on AIME.

Perfecting Your Processes: Cold Calling Tips, and the Mortgage Broker vs. the Builder’s Preferred Lender – (With Eric Eisenberg) – Episode 108 Mar 22, 2022

Show notes

Eric Eisenberg, President of Expert Home Loans, started his mortgage career at 16. As he delivered food to a local mortgage broker in New York, he was offered a part-time job in high school. As early as day three of the new position, Eric was generating eight leads a day.

After attending college for one year, he started selling subprime mortgages with his older brother’s friends. With a passion to advance his career, Eric applied multiple times to work at Morgan Stanley but was rejected since he did not have a college degree. With a determined mindset, Eric was hired as a Financial Advisor at the company, then moved to Merrill Lynch.

Eric attributes his success not only to his past but also to his processes. One of them is cold calling. “Cold calling is an art form,” he says. “The trick is to add value outside of closing deals.” Find out what the client is struggling with, and how you can assist.

Second, leverage Non-QM and Jumbo loans; become an expert in both of these products. “Read the guidelines. Read the updates,” Eric states.

Lastly, when speaking to a ‘new build’ client, learn to push your services. The builder’s lender will offer plenty of credits to borrowers, but understand where those credits are coming from. Eric says to always remind the client that you’ll have their back throughout the process.

Eric encourages novice wholesale mortgage brokers and loan officers to stay ahead of deals. “That’s going to be enough with communication, and you’re going to give the client such good service,” he says.

Learn more about how to improve your processes by listening now.

Notes:

3:00: Intro
17:50: Mortgage Broker Cold Calling Tips
24:00: Understand Non-QM Loans and Jumbo Loans
35:00: Mortgage Brokers vs. New Construction
44:00: Advice for New Wholesale Brokers and Loan Officers
47:00: Mortgage Market Predictions for 2022

This episode is sponsored by AmeriSave

The post Perfecting Your Processes: Cold Calling Tips, and the Mortgage Broker vs. the Builder’s Preferred Lender – (With Eric Eisenberg) – Episode 108 appeared first on AIME.

Perfecting Your Processes: From Lead to Closing – (With Fannie Mae West) – Episode 107 Mar 15, 2022

Show notes

From mortgage application to closing, Fannie Mae West, the President of OPTIST, Inc ., offers a clear process. With a name meant for the mortgage industry, Fannie entered the market in 2007 after partnering with a real estate agent. After her brokerage closed, she worked in correspondent lending while searching for a new career path.

Fannie Mae opened OPTIST, Inc. in February 2021 after receiving the AIME Spark grant. “Follow your dreams, don’t be scared to make a change,” she says. “The good outweighs the bad. As long as you bring YOU to the table and what makes YOU successful, then you can make it.”

As mortgage rates increase, creating the right mortgage loan process is key. Fannie Mae heavily relies on technology, yet maintains a personal touch. Her tech stack includes a pre-approval app, ARIVE, and a CRM. In order to reduce the number of emails, she uses an online portal where customers can upload their documents.

When she receives a mortgage loan application, she schedules a consultation with the borrower. “The pre-approval has to be solid,” she states. Before sending the file to underwriting, Fannie Mae scrubs the file so that there are as few conditions as possible.

Once a clear to close has been achieved, Fannie Mae communicates clearly and simply with the borrower about the next steps. “Moving Day Meals” are part of her mortgage post-closing procedures, in which food is delivered on the day the borrower moves in. In addition, she mails closing gifts.

Fannie Mae, a veteran of the Army, is an active member of her local community. She belongs to a group for women business owners, serves on the board of a local non-profit organization, and owns a ministry titled Chosen to Live. She also offers financial workshops and seminars to first-time homebuyers.

Fannie Mae credits AIME with helping her achieve her goals. “I go into the [Facebook] groups and I get so much information. I was able to save a deal from the information I read in Brokers Are Better.”

The post Perfecting Your Processes: From Lead to Closing – (With Fannie Mae West) – Episode 107 appeared first on AIME.

Perfecting Your Processes: Diversifying Your Mortgage Leads – (With Melanie Walburg) – Episode 106 Mar 08, 2022

Show notes

Broker/Owner of Destiny Mortgage Lending, Melanie Walburg, turns to unique sources for mortgage lead generation. “Grow and thrive, think outside the box,” she advises. During the past two years, she has originated over $60 million in mortgage loans in the state of Georgia by connecting with CPAs, divorce attorneys, and clients who have purchased or refinanced a home. “It’s all about the units. Every loan is a potential referral connection for other clients,” she says. Don’t be afraid to offer help to others in the Brokers Are Better, VIP, and Women’s Mortgage Network Facebook groups. As a result of helping other brokers, Melanie has been able to gain referrals.

Melanie is a seasoned mortgage professional with over twenty years of experience. Originally hired as a receptionist for a construction finance company in 1995, she was soon promoted to an executive position. Following, she became a loan officer, then she started her brokerage in 2005. After surviving the 2008 crash, she kept her advice of working hard, maintaining good ethics and morals, and pivoting into the future. “You have to prepare for the lean times,” she advises.

Keeping honest communication is always important, but during this year’s rising interest rates, it is even more crucial. Keep the listing agent informed of any updates, including when the appraisal is completed and the disclosures are available. Only ask for what the underwriter will ask for – don’t overburden the borrower with paperwork. “It’s all about the experience, for both the borrower and the real estate agent.”

Notes:

1:30: Intro
6:00: On Becoming a Mortgage Broker
7:00: A Recipe for Longevity
12:20: How to Generate Leads Organically for Mortgage Brokers
20:00: Honest, Open Communication
26:00: BRAWL Spectrum Test
29:00: Gaining Referral Sources from the Community
36:50: Recommended Tech Stack and Mortgage Processes

This episode is sponsored by leadPops.

The post Perfecting Your Processes: Diversifying Your Mortgage Leads – (With Melanie Walburg) – Episode 106 appeared first on AIME.

Perfecting Your Processes: Forging a Path as a Black Female Mortgage Entrepreneur – (With Janine Kempfer) – Episode 105 Mar 01, 2022

Show notes

The President of Prime Mortgage, LLC, Janine Kempfer, has more than 25 years of experience in the mortgage and real estate industries. Despite purchasing her own home in her 20s, she faced challenges and eventually had to rent an apartment with her son a few years later. Having learned the burdens of saving money for a house, she developed a passion for real estate and became a real estate broker while working in corporate America.

In addition to showing houses while in school, she also originated mortgage loans. When her living situation improved, it was time to focus on the community. After being laid off from her corporate job, she turned to residential real estate full-time and became an AE until the 2008 financial crisis. She switched to franchising and bought a company that rented new houses out to potential homeowners on a rent-to-own basis, then and a Snap Fitness with her husband.

Eventually, the businesses were sold. “I never look at closing a business as a failure because you learn so much. I’ve learned so much about business, how to deal with people, and about myself – how do I handle adversity, or how do I handle success? If you aren’t seeing success, how do you build on that and make it something more?”

Since opening Prime Morgage, LLC six years ago, Janine has never looked back. Beginning alone, she acquired a team including a third-party processing company, and now she has two assistants, one of whom is her sister. She has remained a consultant for The Franchise Consulting Company. Her extensive background allows her to understand a wide range of aspects of the business.

As a triathlon athlete, Janine draws inspiration and dedication from her fitness training for her business. Despite experiencing nuisances during her career as a diverse woman, she has always maintained her vision and stayed connected to what she wants. “Get your vision in place, and don’t let anything stop you from reaching your goal. Things will be hard and go up and down, but if you have in your heart what you’re trying to accomplish, nothing can stop you.”

Janine was recognized as a Sparking Change winner in the Minority category at Hall of AIME. She is most passionate about teaching others about the impact this industry has on the local community while making sure people are educated about the past and present and what it will take to change it. “We have to have a better answer than someone can just Google. Personalizing and customizing solutions for clients is what we do.”

Notes:

2:30: Intro
8:00: Mortgage Originator, Real Estate Agent…And Corporate America
14:00: Pushing the Limits as a Female Business Owner
32:00: How Brokers are Impactful Educators for Communities
42:00: Advice for New Broker/Owners

This episode is sponsored by REMN.

The post Perfecting Your Processes: Forging a Path as a Black Female Mortgage Entrepreneur – (With Janine Kempfer) – Episode 105 appeared first on AIME.

Empowering and Leading Your Team as a Diverse Broker/Owner – (With Shawn Williams) – Episode 104 Feb 22, 2022

Show notes

Shawn Williams, a former Division III basketball point guard, developed a winning mindset early. As the Founder and President of Fortis Mortgage and Ailen Capital, he has helped thousands of families in Washington, D.C., Maryland, and Virginia, become homeowners or refinance their homes.

As a Founder of Black Men Ventures, a non-profit that provides access to capital and networking to black male founders with less than a million dollars in revenue, and as the Founder of Kid From Greene, a non-profit that provides transportation services for local at-risk youth, Shawn is deeply embedded in the community. A certified Eric Thomas & Associates LLC speaker, he speaks passionately about goal-setting, mentorship, entrepreneurship, and various mortgage-related topics and sits on the board for the Maryland Mortgage Bankers and Brokers Association, Inc. and Juice 4 Life, Inc.

In 2005, after spending time with NPR and telecommunications companies, including Verizon, Shawn was introduced to the mortgage industry by his best friend after the death of his grandmother. Following the 2008 crisis, he started his own branch and rose to management in 2011, then to District Manager and then Executive Leader. In 2018, Shawn decided it was time to become a Broker/Owner, fueled by his passion for breaking down barriers to homeownership.

Shawn leads a small but powerful team that keeps growing. Six months ago, he hired a new Loan Specialist, and he works closely with his mother, an Executive Assistant, two Client Success/Services professionals, and a Business Development Manager. He designed front-end and back-end systems using human-friendly technology, including personalized BombBomb videos that go over disclosures with borrowers via video; this personalized touch results in high Google Reviews from clients regarding how efficient the process is.

For new Broker/Owners, those thinking about starting their own brokerage, or those who are reinventing themselves, Shawn recommends, “People first, money will follow.” Plan some procedures, invest in education for borrowers, and be fair and humane in everything you do.

Notes:

2:00: Intro
8:00: Minority Entrepreneurship
27:00: Relationships Are Key
29:30: The Right Teamwork, Tech, and Systems
40:00: Reinventing Yourself: Advice for Success

This episode is sponsored by Brokers Are Better.

The post Empowering and Leading Your Team as a Diverse Broker/Owner – (With Shawn Williams) – Episode 104 appeared first on AIME.

Becoming a Top Producer with a Niche Mortgage Product – (With Sal Ali) – Episode 103 Feb 15, 2022

Show notes

Sal Ali, Director at InstaMortgage, has been working in the mortgage industry since he was 23 years old. Upon being offered a job at his brother’s brokerage, he entered the wholesale world.

Today, Sal is a top-three originator for VA loans and VA IRRRL products in the country. Formally known as Arcus Lending, InstaMortgage recently ranked as one of Inc. 500’s Brokers of the Year and Fastest-Growing Private Companies in America, number 110 on the 2021 North America Technology Fast 500, and the fastest-growing private company in 2021 by the Silicon Valley Business Journal. It was started by Shashank Shekhar during the ‘dark times’ of the mortgage industry – 2008 – and presently provides services to over twenty-five states.

What is Sal’s secret to success? “Time, patience, and risk. You have to take the risk,” Sal says. Investing in yourself and your capabilities, along with well-planned processes and strategies, are the keys. Initially, Sal used direct mail to build his client base, and then he kept scaling what worked. In lieu of selling, he demonstrates his abilities and discusses the borrower’s central plan.

Three referrals should result from every closed deal. “You gotta be timely.” Always remain upfront and transparent with a borrower if a problem arises, such as an underwriting issue. “If they don’t qualify, you have to pick up the phone and call them. Don’t take it on yourself; reach out to your resources and be upfront with who you’re working with.” Sal also reaches out to real estate agents to offer his expertise on a specific product. “Send me your VA business, and I will show you what I can do for you.”

Establishing quarterly benchmarks, and having the right technology in place, including lead generation systems and LOS, is paramount.Choosing the right technology stack can have a significant ROI, but it’s best to start small and grow it over time. In each quarter, Sal has improved one efficiency, mostly technology. “It’s important when you invest in the technology that you build it out to what you want.” With Shashank, he has developed a new AI assistant, Rachel, to help answer mortgage questions and locate client files. She is the first AI assistant in the mortgage industry.

What are Sal’s predictions for the mortgage market in 2022? “The same wave that happened in 2017 is happening now – the refi boom is gone, and it’s now a purchase market. There’s always going to be a niche product no matter what the market.” When Sal isn’t closing loans, he serves as the Education Chair for the Dallas Chapter of the VA Real Estate Professionals, educating real estate agents and borrowers on the VA product.

This episode is sponsored by AFR Wholesale.

Notes:

1:25: Intro
4:00: Generating Mortgage Referrals
8:00: Taking Risks and Setting Benchmarks
25:20: Meet Rachel, the First AI Assistant in Mortgage
27:25: Solving Mortgage Problems
31:30: Questions from the Broker Community

The post Becoming a Top Producer with a Niche Mortgage Product – (With Sal Ali) – Episode 103 appeared first on AIME.

Best Processes and Strategies to Win at Mortgage Lead Generation – (With Paul Olbrantz) – Episode 102 Feb 08, 2022

Show notes

Paul Olbrantz, Broker/Owner of Clear2Close Brokers, started his career at a subprime call center before moving to a large retail bank. He quickly found that adding value and obtaining better conversations with clients led to more leads and better results.

In April 2019, Paul Olbrantz and his wife, Danielle Olbrantz, opened Clear2Close Brokers. As the team realized that chasing rates was not a good business model, they began developing lasting relationships with their lending partners by learning their systems and discovering ways to succeed. “Having an amazing product, you have to know who to go to,” says Paul. “Start developing relationships with the right lenders, and as you grow, you and open up to more.”

The following year, Danielle began her own third-party processing company, Clear2Close Processors, taking the majority off Paul’s plate so he could focus on growing the company. The company has grown to seven employees, while Clear2Close Brokers has six loan officers.

How did Paul close $177 million in purchases during 2021? Developing the right processes and strategies for mortgage lead generation and relationships, including clients, lenders, and real estate agents. “It’s gotta be simple, it’s gotta be measurable, and it’s gotta be reportable,” says Paul. When a customer calls or a real estate agent calls, he can easily look into his system and keep them informed of the loan’s progress. In addition, the coaching sessions that he attends every two weeks facilitate the process of calling real estate agents and selling his products.

The past couple of years have been busy for Clear2Close – Paul attributes it to Bridge Loans, which add a lot of value to the client and real estate agent, and usually lead to a refinance after the loan is closed. Furthermore, Paul and Danielle have completed Homes for Heroes and are currently working on starting their own charity, Believe in Hope and Inspiration. Due to its slimmer margins and competitive rates, Paul predicts the broker channel will continue to grow.

Both Paul and Danielle plan to attend Hall of AIME, which is taking place this weekend in Miami.

Notes:

2:30: Intro
12:30: Insights from a Retail LO
14:00: Building Relationships
18:00: Starting a Processing Company
18:50: Implementing the Right Systems
33:00: Giving Back to Heroes
38:00: Getting Coached

This episode is sponsored by Brokers Are Better.

The post Best Processes and Strategies to Win at Mortgage Lead Generation – (With Paul Olbrantz) – Episode 102 appeared first on AIME.

From Retail to Wholesale: Starting and Leading a Mortgage Company – (With Jason Cecco) – Episode 101 Feb 01, 2022

Show notes

Jason Cecco, the President of Lending Heights, LLC, didn’t go to school for finance. After graduating with a degree in Engineering from Penn State University, Jason’s cousin Joe Cecco introduced him to the world of brokerage. Jason began working at ELends Call Center in the early 2010s, where he focused on FHA streamlines and made $500 per loan. In 2015, after moving around to small correspondents in northern New Jersey, he and his wife opened their brokerage in Pittsburgh after realizing the retail mortgage industry lacked transparency. The entrepreneur recalls sitting on milk crates to work out the business and teach her how to process loans.

He had to learn which party sent disclosures since the retail lender handled everything, including Good Faith and Loan Estimates, as well as lender-paid versus borrower-paid fees. “There’s so much support with the wholesale lenders,” says Jason. “Coming in and not knowing anything, there are so many resources and support.” He quickly learned that the broker channel has more control than the retail channel.

It was time to stop originating and start leading in August 2018. The business grew to 26 employees, including 14 Loan Officers. All of them are licensed by NMLS, and they each specialize in their specific fields, which allows them to focus on their strengths.

Jason’s production levels for 2021 reached $200 million and 850 units. Most of his leads came from online. What sets you apart is getting the right service, culture, and execution, and a solid foundation and core are necessary to succeed. In addition, implementing the right tools, systems including an LOS, and tech stack will put you ahead.

Notes:

1:10: Intro
9:00: Shifting from Retail to Wholesale Mortgage
11:15: Small Business Challenges
22:00: Conquering the Broker Channel
25:00: Creating Team Culture
30:00: Structuring Small Business Leadership
44:00: Back to Basics

This episode is sponsored by EPM

The post From Retail to Wholesale: Starting and Leading a Mortgage Company – (With Jason Cecco) – Episode 101 appeared first on AIME.

How Independent Mortgage Brokers Can Lean on the Community for Success, Leads, and Market Growth (With JP Hussey and Marc Summers) – Special Episode 100 Jan 25, 2022

Show notes

Marc Summers and JP Hussey, host of Broker To Broker Season 1 and co-host of Season 3, celebrate the 100th episode of Broker to Broker. In this special podcast, Marc and JP review favorite perspectives and success systems from independent mortgage professionals.

JP Hussey credits each guest for the advice and knowledge shared that helped grow the Hussey Team from just himself and his brother to a small broker shop. Marc is grateful for the Broker Owners who are willing to share their expertise in the wholesale channel. Favorite key takeaways from Broker To Broker include building a lead and referral base through YouTube, time management, organization that top originators apply each day in the mortgage industry, and how you can best serve and impact your local community.

What will 2022 and Season 3 bring to the table? Guests will tap into how they plan to evolve in the ever-changing mortgage business. “It’s a changing market, and we’re in another one of those cycles,” says JP Hussey. It’s time to become more focused on the purchase game. Brokers “gotta get more creative with marketing, and help as many consumers the right way as possible,” notes Hussey. Marc Summers asserts, “If you’re a transaction person, you’re not going to last. But if you have that longevity to it, with a borrower for life mentality, you’re going to be fine.”

With currently 25% share in the mortgage market, will wholesale take over banks in five to ten years? JP Hussey predicts big time. “Small business is coming back, big, everywhere,” says Hussey. “Consumers are supporting them more in local communities, and that’s who the consumer wants. Brokers are now held to more compliance and need to be transparent. So, I think the broker channel will grow by 50% within the next three years.”

Independent mortgage experts can gain a wealth of skillsets by tapping into the Brokers Are Better Facebook Group and opening an AIME Member Portal account. “Don’t be afraid to take from it, and don’t be afraid to give back to it,” says Marc Summers. JP Hussey thanks the group for saving loans and scenarios; it’s even allowed his team to pre-underwrite files. “You learn something new constantly,” Hussey adds. “Invest in this; it’s a great starting point to have people support you in a very, very tough industry.”

Listen now to find out the common traits top producers have, mortgage loan originators should be doing right now, how to keep team production moving during rising rates, and how to fully contribute to your local community as an independent mortgage professional.

Notes:

0:55: Intro
3:37: JP and Marc’s Favorite Broker To Broker Moments
12:10: Biggest Takeaways
14:39: What Will Season 3 Include?
18:28: The Future of the Broker Channel
22:39: Join the Brokers Are Better Facebook Group and AMP
29:00: Questions from the Broker Community

This episode is sponsored by PRMG.

The post How Independent Mortgage Brokers Can Lean on the Community for Success, Leads, and Market Growth (With JP Hussey and Marc Summers) – Special Episode 100 appeared first on AIME.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected