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Mortgage Lending Mastery

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Now displaying: December, 2016
Dec 29, 2016

In this episode, I share a change I’m making for the new year: bringing a referral partner to my networking events!

 

Key Takeaways:

[:37] Jen has been talking a lot about being online and using mobile apps to be more efficient, and branding. She shares some shifts and changes she's making, going into the new year.

[2:27] Network with your referral partners in the arena that helps your business!

[3:26] You need to know what your Realtors like and what their interests are, to know what kind of clients they will attract.

[5:00] Don't go alone to your networking events!

 

Mentioned in This Episode:

Kinetic Spark Consulting

Mortgage Lending Mastery on iTunes

Jennifer Du Plessis on YouTube

Kirney Lending Team on Zillow

 

Dec 22, 2016

In this episode, I get to sit down for an interview with Mimika Cooney, an entrepreneur, TV host, speaker, published author, award-winning photographer, and strategist on marketing. Mimika shares tips on branding that can go a long way!

 

Key Takeaways:

[:38] Jennifer introduces today's guest — Mimika Cooney

[2:29] How did Mimika get started? What has she been working on recently?

[6:04] Branding is important, because it is how you're putting yourself out there. If you're in sales, you're in branding.

[7:00] It's important to brand yourself in a manner that shows you focus on something specific. Your positioning is crucial!

[8:52] Branding is a challenge for those in the mortgage lending space! Jennifer has seen some really bad branding.

[9:44] How should we get started in presenting ourselves and crafting a brand? It starts with you, why you are doing this, and who you are aiming this at.

[16:20] We miss so many opportunities, when we're trying to be everything.

[17:36] Many of us fear that isolating ourselves and picking a niche will limit us and lead to missed opportunities. What does Mimika think?

[22:23] If you don't give your clients anything to differentiate you by, the default is price.

[25:42] Providing potential clients with more information helps build up their trust in you for when they need you.

[27:34] How do you bridge soft skills, or your brand, to hard skills, or what you actually do?

[32:39] How can you put yourself out there quickly?

[34:43] There's a fine line between providing enough information and providing too much information. How much is too much?

[37:02] What's a good mix between content that we create, and the content that other people have created that is still beneficial to our clients? Follow the 80/20 rule - 80% give, 20% ask!

[38:30] Mimika shares a little about webinars that she runs, and their benefits.

[43:35] How much of a story does Mimika get out there? It depends on the people she's speaking to!

[45:36] It's about building a group of "raving fans," who become your brand advocates!

[47:42] We have to learn to adapt! We need to be willing to change. We also need to be willing to listen to what our audience is saying.

[49:16] How can you get in touch with Mimika?

[51:05] Mimika shares a tip: Being a specialist means you can charge higher prices!

[52:10] Mimika leaves us with an inspiring quote!

 

Mentioned in This Episode:

Kinetic Spark Consulting

Mortgage Lending Mastery on iTunes

Jennifer Du Plessis on YouTube

Kirney Lending Team on Zillow

Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World, by Gary Vaynerchuk

Mimika Cooney

Mimika Cooney on Facebook

Mimika Cooney on Instagram

 

Dec 15, 2016

In this episode, I meet with Dr. Frank Nothaft, Senior Vice President and Chief Economist at CoreLogic to get his opinion about the federal funds rate increase, and his predictions and outlook for the industry in 2017!

 

Key Takeaways:

[:25] Jennifer introduces this episode's guest — Dr. Frank Nothaft.

[1:29] Who is Dr. Frank Nothaft?

[2:19] The Fed has just hiked the federal funds rate, the rate that banks charge one another for overnight borrowing.

[3:20] Frank shares his outlook for the industry in the next year.

[4:17] Will there be an increase in February, or will it be more likely in the spring market?

[6:20] Does Frank think a specific political party has an impact on rates increasing, or is it merely because of change?

[8:10] Frank expects a 4.5% increase in rates by Q4 of 2017. With all the changes and projection of possible inflation, why doesn't Frank think the rates will increase more than 4.5%?

[11:07] What does Frank think about the use of the Fed dot chart, in assessing where interest rates are headed in the short term?

[14:05] What are the five areas for economic growth in 2017?

[16:01] From the sales perspective, these changes should be seen as opportunities, so do reach out to your clients in these uncertain times, to help them figure out their strategy going forward.

[17:29] Frank gives his predictions for what the HELOC market will look like in 2017.

[19:50] In the last decade or so, the average age of America's housing stock has been getting a little bit older.

[23:01] Multifamily mortgage origination is also going up. Right now, close to $200 billion has come in from multifamily mortgage origination.

[27:58] Rates used to be quite predictable, due to their cyclical nature, but things have become very unpredictable now.

[28:32] What's happening in the rental market?

[32:24] Frank shares other predictions for the industry in 2017.

[36:20] What does Frank see in the situational lending (alternative lending/ subprime) market?

[37:30] What is the effect of higher interest rates going to be on millennials' perceptions?

[40:49] Jennifer has heard that baby boomers downsizing are competing with millennials buying their first homes. How will this play out in 2017?

[44:49] Frank shares some data on how long people own their homes before selling it. Prior to 2005, homeowners had owned their homes for 6 years before selling. After 2005, the length of home ownership has increased to 10 years!

[45:51] How often do homeowners refinance their mortgage loans, given that interest rates have been so low recently?

[47:55] Frank gives us his best wishes and some advice for a prosperous and successful 2017!

[50:08] What's a book that Frank is reading that he would like to share with us?

[52:21] Check out CoreLogic to get your hands on all the wonderful data they have to offer!

 

Mentioned in This Episode:

Kinetic Spark Consulting

Mortgage Lending Mastery on iTunes

Jennifer Du Plessis on YouTube

Kirney Lending Team on Zillow

Fed Dot Plot, December 2016 (PDF)

CoreLogic

Here is Where: Discovering America’s Great Forgotten History, by Andrew Carroll

c.

Dec 8, 2016

In this episode, my advice for you is: Don’t go dark. Clients always want to be updated, and not maintaining constant communication with them is sure to cause a dip in your love-o-meter!

 

Key Takeaways:

[:40] CoreLogic produced a report on what consumers are saying about mortgage companies, and the way that they communicate in the mortgage lending process.

[1:17] Client satisfaction is greatly improved when we call, or reach out to them in other ways.

[2:07] Jennifer recommends stopping or slowing down, to go faster.

[3:20] Incorporate communication points in your process.

[4:04] Ask for referrals at the beginning, when your client's love-o-meter is high.

[5:15] Remember that every communication that you or your team has with a client throughout the whole process, is a deposit or a withdrawals from the Trust account.

[6:29] When communication stops between you and your client, the love-o-meter goes down, and it's a withdrawal from the Trust account.

[7:15] The longer you take to communicate bad news to your client, the worse toll it's going to take on you personally.

[8:23] Send a video when things in the loan process are going great. Every communication is a great time to ask for a referral.

[10:13] Don't go dark on your clients. Make sure the love-o-meter is always going in the positive direction.

[10:49] Remember to apply this advice to your referral partners too!

 

Mentioned in This Episode:

Kinetic Spark Consulting

Mortgage Lending Mastery on iTunes

Jennifer Du Plessis on YouTube

Kirney Lending Team on Zillow

Dec 1, 2016

In this episode, I get to sit down for an interview with Matt Hanson, Founder and CEO of SimpleNexus, LLC. In today's episode, Matt talks about a useful mobile app that can also help you in your daily routine to be more efficient, and serve your clients better.

 

Key Takeaways:

[:34] Jennifer gives a brief overview of today's guest, Matt Hanson.

[1:56] What is SimpleNexus?

[3:25] How does SimpleNexus help loan officers and borrowers?

[6:40] Real estate agents and other referral partners can also use this app, to be a part of the communication process.

[7:30] What is the benefit of using SimpleNexus over any other system?

[11:20] This app creates opportunities for more meaningful conversations about new business, new referrals, and building relationships.

[12:15] SimpleNexus offers both company and individual plans, so you can choose what suits you best.

[13:42] Over a hundred enterprises are on board with this app, so you don't need to worry about compliance issues.

[14:29] New loan applicants can start their loan application from within the app!

[15:27] How does the app integration work with Fannie Mae?

[16:51] SimpleNexus can help loan officers capture the growing millennial market through the use of technology, by helping them understand the new dynamics of communication.

[19:21] Matt talks about drip campaigns, and how they can be used to increase engagement through the app.

[21:25] Jennifer stresses the importance of conversions, and this app definitely helps manage prospects to increase conversion rate.

[22:55] The app can help you close loans 20% faster! Document collection and sending reminders is done by the app, which makes closing loans a lot faster.

[25:27] Apps are replacing business cards as a means of connecting people. How does someone receive the SimpleNexus app?

[28:10] What's the best way for you and your company to get on board with SimpleNexus? Originators, teams, and enterprises can find the information they need at Simplenexus.com.

[31:22] Matt leaves us with some parting thoughts: Having time for exploration is really important, but so is thinking about implementation of these ideas or technologies in a manner that's useful.

[33:50] You can reach Jennifer through her website to leave comments, ask questions, and tell her what else you'd like to hear about!

 

Mentioned in This Episode:

Kinetic Spark Consulting

Mortgage Lending Mastery on iTunes

Jennifer Du Plessis on YouTube

Kirney Lending Team on Zillow

SimpleNexus

CamScanner

Encompass

Lending Manager

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