STRATEGY ALERT: Generate 3-Plus Loans Now By Adopting “Orphaned” Loans!

Every year, whether you realize it or not, there are customers in your office who become orphans…they get lost among the numerous files because their loan officer has left the company and the connection has been severed, never to be communicated with again. Eventually, when they have a new mortgage need, they take it elsewhere because they no longer have a relationship with anyone in your firm.

But you can capture those relationships. Eric Bohn did, and now he’s generating 13 to 15 new loans a month with this strategy! Bohn, with Shore Mortgage of Birmingham, Michigan, generates new mortgages under management by “adopting” the loans of existing clients from loan officers who have left the company. This guy has only been in the business for 2-1/2 years and he did over $52 million in loans in 2006!

In our recently recorded Strategy Alert with Bohn, he details how he gets his foot in the door with these “adopted” clients using the RateWatch report.

“I have a fairly large database of adopted clients and as I’m dripping on them” (i.e., communicating with them slowly over time), “I’m making sure to send them RateWatch on an ongoing basis. That has resulted in a lot of refis for me,” he says. So many refis, in fact, that Bohn has closed 58 loans over the past three to four months!

The key takeaway here, Bohn says, is that every single loan out there is adoptable. If you’ve ever done a refi, you’ve already adopted someone else’s client. He looks for orphaned loans within his firm that have the highest probability of being ready and able to refinance or conduct another transaction.

To learn how to generate new business from “adopted” clients, listen to our Strategy Alert with Eric Bohn: http://davesavage.typepad.com/EricBohn.wav

Reach out to our sales manager today to adopt 200-300 mortgages that you can start managing with RateWatch Reports and see immediate results. To contact the Mortgage Coach Support Center: http://www.mortgagecoach.com/about/contact.aspx?support

Watch our training video on how to use RateWatch:
http://www.mortgagecoach.com/training/videos/rw/ratewatch.html

Listen to how Dylan Kramer uses RateWatch to generate over $135,000 in annual commissions: http://www.mortgagecoach.com/learning_center/calls/conference_calls.aspx?call=10062005

Listen to Brian Holiman’s 5-minute Strategy Alert on how he generated 4 extra loans the first time he sent out RateWatch:
http://www.mortgagecoach.com/learning_center/strategy_alerts/0001.htm