insuranceclub's Blog

With every year, come new opportunities. And astute loan officers are quick to capitalize on what the new year brings, raising their commission levels and catapulting to top producer status in no time.

I ask you one simple question, “Are you doing everything you can to maximize your income?”

Anyone who has been in the mortgage industry for at least a year, knows that as home prices increase, so do the conforming loan limits from both Fannie Mae and Freddie Mac. January is a great time to go through your existing customer base, and drill for hidden opportunities. It’s “found” money. And it’s waiting for you.

Here’s a quick and easy way you can start your new year off with a bang.

Go through your entire past customer base, and pull-out all the “JUMBO” loans you closed last year and before. As you know, the interest rates on these loans are typically half a percentage point or more above standard conforming loans.

With the yearly increase in loan limits, this is a great chance to refinance an existing customer from a JUMBO loan, into a regular conforming loan and cut their interest rate! Even a small percentage decrease can save a customer hundreds of dollar in their monthly cash flow as well as thousands of dollars in interest over the life of their loan. It’s simple math and the savings are black and white.

Refinancing JUMBO loans into conforming loans is easy money and your customers will love you for it! How many loan officers do you know that are proactive and actually look for ways to save their customers money? Not many, I’m sure!

And the ones who do, do this, certainly aren’t going to share their secrets with you. But, I will. This will be the easiest sales call you’ve ever made! Not to mention the referrals you’ll get in return. It’s a win-win situation. Don’t miss the boat.

Your past customers are your greatest asset. They know you, they have a relationship with you, and they trust you. Waste no more time!!! I beg you! Go through your customer database now and mine for the gold that awaits you. What are you waiting for?

Using the same old thinking and doing the same old things the same old way will get you nowhere. Think different. Be proactive. Add value to your relationship with your customers whenever you can. Uncover the opportunities that lie hidden all around you. Do this and you’ll quickly vault to top producer status in no time. Not to mention your income and lifestyle will increase as a result.

In closing, always remember that each new year brings higher loan limits--and with it—a chance to pull in some quick, easy refinance loans. Whether or not you take full advantage and raise your commission level, is entirely up to.

The gold is there waiting for you, ready to be claimed. But, will you reach out and take it?

When I was a branch manager, there were always certain traits and skills I looked for before deciding to hire someone. After years of experience, and learning things the hard way, I know what it takes to be successful. Not everyone is cut out to be a loan officer. The mortgage business is like no other, and it takes a certain type of person to be successful in this industry.

Here are some of the top traits and skills I believe every loan officer must have in order to be successful.

If you want to become a top producer…

1. You need to like the mortgage lifestyle. It needs to be more than just a “job” for you in order to put up with the demands on your time, life and family.

2. You need to be a motivated self-starter. You will either succeed or fail almost entirely based on your own individual efforts and no one else’s. If you are afraid to take the initiative, maybe this isn’t the right career for you.

3. You need to be a hard-worker and be willing to go the extra mile. Selling and closing a mortgage loan is NOT easy work or fast money.

4. You need to be smart worker. You are paid for results, not the amount of hours you put in. Organization, efficiency and productivity are the key words in this business. And a loan officer is only as good as his last loan. If you don’t systematize your business and outsource non-essential tasks, your time will be quickly eaten-up, making you less effective. Hence the reason why I invented my worksheets at http://www.loanclosingsystem.com

5. You need to enjoy solving "people’s problems". As the refinance boom and the easy loans have dried-up, you need to look at other ways you can originate business. Creative financing and thinking outside the box, will get you loans that others leave behind. Interest-only loans, debt consolidation, cash-out divorce loans, reverse mortgages, etc. are all alternative loans you need to be considering if you are to stay in this business for the long term.

6. You must have people skills and be able to interact with customers from all walks of life and economic situations.

7. You must be a good listener. The more you “hear” the customer, the less pushy “selling” you will have to do. Find out what is truly motivating them and offer them something that truly solves their problem, you’ll be more likely to get the sale.

8. You need to be emotionally stable and mature. You can’t play games or mess around with people’s financial situations if you are to maintain the trust and confidence of the other person. You also need to maintain your own sense of balance and fairness.

9. You need to know your product line inside and out. Knowing one lender is not enough, you must know at least 15 to 20 lenders, from A-paper to B-paper and beyond. How else are you going to be able to sell a customer something if you don’t know what you’re selling?

10. You need to be convinced of your product’s value. It should be easy to be enthusiastic about your product when you know you are truly helping somebody.

11. You need to be flexible and agile. The mortgage industry changes everyday in technology as well as fundamental ways of doing business. You must be willing to adapt to whatever is thrown at you.

12. You must be a constant learner. Even after many years originating loans, I still learn something new everyday. That’s why I love the industry so much! It’s an on-going education.

13. You have to persevere and never, ever give-up! Relentless perseverance is the only way you will succeed. When something doesn’t work, try doing something else! You can’t take rejection personally. If someone says “no”, it doesn’t mean they don’t like you. After all, they don’t even know you.

These are the traits and skills I teach my loan officers, and I would encourage you to print out this list and look for it before you decide to hire someone else. Remember, by emulating the qualities of top producers, you are more likely to become a top producer yourself.

Business is considered as the fastest money making occupation. However, this is possible only if an owner is intelligent enough with his business strategies. But even before this, one most important step to be executed is, collecting good monetary resources for laying the strong foundation of your business. Many budding business owners fail in accumulating sufficient amount of funds for establishing a well managed business organization that ultimately collapses under the pressure and demands of the market. Hence, our smart financial planners have now offered the appropriate solution of instant unsecured business loans UK to support the dreams of budding, as well as, already established business owners.

So, now, whenever you need instant cash service at a short notice for managing the quotidian tasks of your business, then immediately opt for the instant unsecured business loans UK, where you are not required to bear the burden of making arrangements for a decent security or collateral. The option of instant unsecured business loans UK, is customized with several benefits for the applicant but the easy and immediate loan amount accessibility tops it all. Also, as this loan service is specifically designed for borrowers without any security to be placed as collateral against the loan, the business owner is free from placing his company premises as a security, that often raise the risk of losing the business if the repayment is not made within the specified duration.

The instant unsecured business loans UK, are considered as risky investment for the financial lenders, as these loans have no provision for collateral submission and thus, the rates of interest charged on such loans are usually higher than the secured loans. Therefore, before you finalize any of your loan deal, it is always recommended to analyze the available market rates and then only select the scheme that is most apt for your financial requirements. Nowadays, almost all of the financial lenders dealing in the business of such loan facilities have the provision of online websites, from where you can not only collect necessary information about the various features of the loan but can also draft your application for the same. Hence, if you are also wondering for such an easy assistance then do not wait any more and immediately find out about the rates of interest, norms and regulations and repayment facilities of the loan.

In order to receive instant unsecured business loans UK, an applicant is expected to fulfill few major pre requisites. He should be 18 years of age or above and must posses an active bank account. Other than these elementary requirements, it is also important for the borrower to convince the lender with a suitable business program that shows enough resources of gaining funds. For this, you can create a summarized synopsis of your business strategy and wise utilization of the loan amount. The synopsis will persuade the lender to bear the risk involved with this loan scheme. The option of instant unsecured loans is an awesome financial opportunity for all those budding entrepreneurs who do not have an economic back up and can also not support their loan approval with the offer of a decent collateral.

For giving your business a grand opening you can go for the business loans. However, if still you have problem in offering collateral then nothing can be as best an option as the unsecured business loans. These unsecured loans are especially designed for people who want to start a business or need money during their regular operations. What's more? Nobody will ask you what will be the use of the loaned amount. You can spend it in the way you want.

A new entrepreneur willing to start a business goes from bank to bank with his business plan to obtain financial help. If the business is small or in loss, lenders will seldom help. You have to place something as a guarantee which is of many times high value than the amount you need.

With unsecured business loans, you can get money as soon as you finish planning your new business strategy: to start the venture, to improve it, to re-engineer it, or even to advertise. You can even pay off your debts with these unsecured loans. You can pay your staff too, if required.

Remember going to the nationalized bank with your proposal? Remember how they made you make several trips before they could assess your business plan? And finally when they approved it, how much of your finance need did they offer you? Did they include the most important part: the working capital?

Working capital helps you keep your business running. And it is not a one time expense. These expenses are incurred daily. But nationalized financial institutions will not cover it when financing your business.

When you go for the unsecured business loans, you get money for working capital too. No questions asked. And once you start repaying the loan properly, you can even ask for much higher amounts when need arises in future. This also helps you improve your credit score as well as your goodwill in the market.

Remember going to the nationalized bank with your proposal? Remember how they made you make several trips before they could assess your business plan? And finally when they approved it, how much of your finance need did they offer you? Did they include the most important part: the working capital?

Working capital helps you keep your business running. And it is not a one time expense. These expenses are incurred daily. But nationalized financial institutions will not cover it when financing your business.

When you go for the unsecured business loans, you get money for working capital too. No questions asked. And once you start repaying the loan properly, you can even ask for much higher amounts when need arises in future. This also helps you improve your credit score as well as your goodwill in the market.

By: Chaste Jon

In any business, the success can be gauzed by how much profit you made. If you have any innovative idea fluttering in your mind and has the potential to create a stir in the market, then you should go for it. Even if you lack the finances there is nothing to worry. Now you have the option to seek the assistance of small business loans to take car of the expenses.

These loans are by nature flexible and can be used for availed for a number of reasons. It does not matter whether you are an existing business owner or a new person looking for finances to start a new one. With the monetary assistance you can go for purchasing raw materials, implementing new machines and tools, making payments, advertising, arranging transportation, office stationeries or clearing debts etc.

Since the amount required for the purpose is not that large, you can obtain the finances without any collateral. This means that the loans are unsecured in nature. Under these loan provisions, you are entitled to borrow amount in the range of £1000-£25000 to meet all the necessary expenses. The repayment term is short and has to be paid back within a period of 6months-10 years.

Before opting for the loans, you must prepare a plan where you should provide details about the repaying the borrowed amount.

Those with bad credit problems such as CCJs, IVA, arrears etc can also apply for the loans. However the interest rates will be slightly higher. But if a proper research is undertaken with the help of online mode, then you may spot lenders offering these loans at competitive rates. Besides the presence of large number of lenders and their stiff competition assist you further in this regard.

With small business loans, you have a chance to mark your name as an entrepreneur in the market that too at formidable rates.

By: George Linken