Another Industry Expert Responds to the Business Week Article

The Sept. 6th issue of Barry Habib’s e-newsletter “Mortgage Market Guide” includes an audio conference call from Jim McMahan. Jim uses the call to address head on the Business Week article (“How Toxic Is Your Mortgage?”) and he offers some good suggestions on how to overcome the challenges this type of bad press can bring.

I recommend you take the time to listen to it—it’s only about 10 minutes. His advice supports and drives home the best practices I teach every day.

Also, this is a special opportunity for our readers, since Jim’s website—and these audios—are usually for members only. But Jim thought this issue was important enough that he wanted to share it freely with as many people as possible.

Here are some key takeaways of Jim’s audio conference call:

• The BW article presents an opportunity, not a problem. Use it to your advantage to educate your customers, particularly about the benefits and drawbacks of Neg Am loans.
• Always conduct your transactions for the right reason—because it’s what’s best for the customer. Focus on products that match up with the customer’s long-term financial goals.
• Maintain integrity above everything else.

Thanks Jim, for sharing your insight on this challenging issue.

To listen to the audio file:
Macattack_00039-business week article.mp3

To view the home page for Jim’s subscription-based Certified Scripts for Success site: http://www.certifiedscripts.com/sellingarms.html

To sign up for the Mortgage Market Guide weekly e-newsletter (also subscription based): http://www.mortgagemarketguide.com/membership/signup.html