Monday, March 27, 2006

Take Advantage of new Tools and Training for Mortgage Planning

Technology and training are changing the point at which your skills are being commoditized... here's how to get ahead of the curve

I had the opportunity to speak with Steven Marshall on Friday when he was in Denver for the Mortgage Originator Magazine's Superstar series. Steven is a Superstar Originator and Thought Leader in this industry and is helping to increase opportunity for those who choose to become Mortgage Planners. His Strategic Equity Group is quickly aggregating massive amounts of information from all the leaders involved with the concepts of Mortgage Planning and Equity Management.

I have personally attended his site visit and, like his friend and peer Tim Braheem, founder of, Steven has the habit of delivering value far greater than the cost. As part of his Strategic Equity Program, I will be participating in his Equity Management Summit in Las Vegas in June. This program costs only $299 to attend. However... it is free to participants of the program. To make involvement more affordable, Steven has launched a monthly subscription program ($49-$69) for originators that includes registration to this event for FREE. I'm checking with Steven's team for online details. The program description I heard at the seminar made for an insane value.

As our industry evolves, we must evolve with it. Our value must grow in order for us to maintain relevancy. Genuine value for the client has to be created by each and every LO. Steven's program is a great opportunity to slipstream into a movement that started with Missed Fortune but has gone way beyond (and become more affordable, by the way. Missed Fortune is a $6k-$10k investment for originators) to offer many alternatives for clients to increase their wealth by actively managing their home's equity.

Check back later this week for more details.

Wednesday, March 15, 2006

Agencies Adopt New Credit Scoring System

Agencies Adopt New Credit Scoring System - Yahoo! News: "Agencies Adopt New Credit Scoring System By EILEEN ALT POWELL, AP Business Writer
Tue Mar 14, 3:03 PM ET

NEW YORK - The nation's three major consumer credit bureaus have created a new credit scoring system designed to make it easier for financial institutions to evaluate loan applications and to give consumers a better way of measuring their financial health."

Tuesday, March 14, 2006

An unofficial declaration

I've predicted before that this will be the year where CRM will become a focal point in our industry...

First off, apologies for the lack of postings. However, I've gotta bring home the bacon and it's been sizzling hot lately. Besides originating, I've been working on some "Skunkworks" technology projects for my own mortgage practice. Many of these have been incubating for more than a year and are beginning to see the light of day. More on that later...

One item on my plate is CRM. This is going to be a hot year. BnTouch is likely to have a late summer major release., in addition to its already excellent ACT! template (it's included in the membership), just released Platinum Plus, an automated marketing tool for disseminating the LoanToolbox content. It's very lite, and not really meant as a true CRM, but it represents a toe in the CRM water.

The CRM entity that support Ron Quintero's, myMortgageHost, is now offering their product to the LO community. I don't have time to evaluate it, so, any comments are welcome.

Finally, I've rediscovered client/server in AdvantageXI, by Mark-IT systems. I'm in the middle of evaluating and so far am impressed. If you are tired of ACT! and need to upgrade to a more robust CRM tool, this system is affordably priced and, it works. The problem for me, which is not really a problem for most LOs, is that the product has its own built in email client. I'm behind a big corporate firewall and can't even sneeze without setting off alarms. So, I'm looking into Verizon Broadband. I'm looking for existing user feedback.