A lot of mortgage brokers and bankers are pondering where the market is heading and what they should be doing.
Despite the media pundits and doomsayers, I for one am very bullish. Why?
- I look at the growth of my own mortgage lead management company, primarily fueled by the mortgage industry’s sales force, which has surged at an unbelievable rate since October 2007
-
I am seeing very strong and motivated mortgage professionals that were displaced by large mortgage company implosions and down-sizing reforming into very capable small to mid-size regional and national lenders. Additional strengths in these shops include:
- Solid foundations in knowledge, compliance, and technology
- Focused on solution selling and client fulfillment
- Marketing savvy and willing to do the hard work in sales
- Most importantly–They are being built like businesses not fly-by night, beer money, checking accounts
- They are building a client base and focusing on serving that base with education and consultation, not pounding through triggers with dialers and shaking down friends, neighbors, and professional connections for victims
- All the strongest, most successful businesses rise from the ashes of crashes. Take a look at the start-up dates of companies like Dell, Amazon.com, Quicken Loans. Not the most prosperous times in there respective sectors
-
Everyone is here to help make you successful:
- Internet mortgage leads are less competitive, cheaper, more transparent, and generated with more integrity than ever before,
- The whole Federal government, from the White House to Congress is behind making it easier to qualify borrowers–HOPE, FHASecure, FED rate slashing
- The media and the government is running one heck of a free marketing campaign
There are 5 reasons, of many, to be excited about growing your mortgage business, but I want to leave you with a bit more. Let’s think about action items. For that I am going to point to some required reading:
- Owen Raun’s, Mortgage Online Blog–A mortgage professional building a dynamite multi-state mortgage lending business
- Lead Critic–Everything you wanted to know about buying Internet leads
- Morgan Brown’s, Blown Mortgage–Demonstrating how educating mortgage consumers on avoiding a bad mortgage makes you money
- Dave Savage’s, Savage Insights–Illustrating successful loan officer strategies and real success stories
And a couple of my own if I may:
- My Internet Mortgage Originations How-To Series on Lead Critic
- Lead Marketwatch, An insider view into the mortgage lead market and the age-old question–who has the best leads?
If you liked this post please sign-up for the RSS feed or get updates via email.
If you Twitter: Follow me @billrice.
Want more information about Kaleidico's software or services call 866.667.5253 or visit www.kaleidico.com.
