Wake Up Loan Officers! You Need to Raise the Bar and Increase Your Sense of Urgency!

In this market and season, I’m shocked by what I’m seeing and hearing. Many loan officers are pulling back by 20% to 30% because they’re unmotivated or confused. They’re not confident. They’re not feeling good about the market, themselves, or their customers.
Look, in this marketplace, you have to work smarter, you need to work harder and yes, it takes extra effort. It’s not raining loans anymore, so easy loans aren’t just walking in your door without effort and focus.

And this might be my harshest message of all: The market is the ultimate equalizer; it always pays us what we’re worth. What do you feel you’re worth? Guess what, whatever you think that is, that’s what you’re getting paid.

If you are in the mortgage business and you aren’t going to increase your effort by 20% to 30% and you aren’t going to get more focused on the best strategies, then your business is going to continue to go from OK to bad and even bad to worse.

The leads are right there in front of you, as are the tools. You can conduct annual equity reviews…ARM reviews, seller buydown analyses…monthly rate reviews….divorce planning…recast reviews… and more. Every single loan officer in the business today is sitting on dozens of hidden opportunities for generating new business. You simply need to uncover those that are being overlooked by homeowners and other loan officers.

I’ve been talking to people who are saying that they’re not ready to make the investment in their business right now. In this market, how can you afford not to?

Cold call direct mail pieces don’t generate trust, and trust is critical today. When you contact people who have been referred to you by someone they trust, that trust is automatically transferred to you. Are you willing to waste $1,000+ and your precious time on a less than 1% response rate? Do you really think that’s going to keep you afloat right now?

I’m baffled. Even people who are networked in the community and are members of their country club aren’t putting forth enough effort. Just having a good relationship is not enough anymore. You need to deliver something valuable and uncover the opportunities that are not obvious — that your competition can’t see and can’t reach. Those are the golden nuggets.

And it’s not going to get easier any time soon. You need to have more energy, put forth more effort and deliver a higher caliber of service. To succeed, you’ve got to increase your activity by 20% to 30%.

We have weekly recorded case study calls you can listen to where Mortgage Coach users explain how they are thriving in this marketplace. These MC users aren’t paid. They agree to be interviewed because they want to share their success with their fellow LOs. They weren’t prompted or prodded in anything they say and each one has a unique spin on how they are succeeding.

Click here to listen to the success stories of your fellow loan officers who are selling advice through the power of Mortgage Coach.

Remember, if things are good, they’re going to get bad. If they’re bad, they’re going to get worse if you are not taking advantage of the strategies we evangelize.

Stop making excuses! Start making the necessary investments and changes you need to win in this market. Remember, the only market we have to work with is this one. In the words of Nike, just do it! Your future depends on it.

Comments

[Richard Lovell]

WOW! And I am not talking about Dave's company WowTools, Inc. Wow, as in how can anyone not seriously consider using MortgageCoach?

Let me give you a little personal history...I started using MC several years ago, but it took me at least 6 months before I looked at it a second time and really started implementing it as a tool in my presentation. I use to do a lot of these calculations by hand and when I saw how fast and easy (once you watch the videos) MC was, I immediately became a convert. MC has helped me illustrate to past, current, and potential clients why it makes sense to refinance or purchase now, or to not do a loan at all. I can easily illustrate why a particular loan strategy is better than what they first thought they wanted. Why is that important to you? Because it allowed me to show them which loan was best over an established period of time, illustrate their “freedom point” from two perspectives: 1) Principal reduction 2) Investment strategies to pay off their loan through their balance sheet and allowed me to close on a larger loan amount and charge a little less in total points and still make my normal fee. A win-win scenario for all involved.

Recently, I had one of the hardest consultations with some close friends of mine. The scenario went something like this: the husband saw and understood what I was trying to illustrate to them. Instead of increasing the amount for a new second at 9.5% and keeping their 30 year fixed, 5.875% amortized loan at $230,000, like his wife wanted to do, I was able to demonstrate to them by combining their first and second, pay off all non-strategic debt and open collections and judgments (to later increase their scores to possibly qualify for a better loan in the future), I showed them a 6.375%, 30Yr Fixed/10 Yr I/O option and possibly pay off their mortgage faster through mortgage planning strategies and the guidance of a certified financial planner. The resistance from the wife was seeing a larger loan amount and higher payment on a first, even though she would still have the same amount in total debt, but with a higher monthly out-go because the 2nd was higher with a higher interest rate. In short, the TCA allowed me to illustrate to her the freedom point that she thought she would have with a higher second, lower first with a ½ percent rate, fully amortized, with a monthly payment approximately $200 higher. I showed her with the TCA and ER analysis reports how she could accumulate more than enough assets with an initial investment of $100k at a conservative rate of return at 7% and pay her mortgage off faster through her interest bearing side account as opposed to paying it through principal reduction. Yes, the full amount of the interest was deductible because of some major home improvements. She could see through the ERA that her assets over 10 years would double and then double again in another 10 years giving her enough money to pay off the house if she chose to do so. Sure, I could have accomplished this without MC, but I would have spent a couple of hours or longer doing calculations and the presentation would not have been as polished and professional. Combine that with the Marketing Machine presentations and WOW!

I think it is such a powerful tool that I always recommend it recently to a friends that are trying to break into the mortgage planning side of loan origination. It is a must. . Oh, did I mention the Debt Consolidation Module? Dave recently reminded me of how powerful this tool can be. So I played around with it on a couple of cases and I saw the light. Yeah, you can bet that just about every client will see one of these as well. You can do so much more than just show debt consolidation illustrations with it.

Bottom line: You are selling yourself short and doing a disservice without a presentation tool like the Mortgage Coach.

[Dylan Kramer]

Dave,
I want to take a minute today and ask you to remind everyone that they MUST be using Mortgage Coach in the current market. It is at tough times like this that "doing the little things" matters most and Mortgage Coach helps me do those things.

As you know, I left a Net Branching company over the summer that subsequently imploded and have spent the last few months getting my new company off the ground. In spite of the market conditions and the responsibilities associated with launching America's Mortgage Choice I am producing at a very comfortable clip and I have Mortgage Coach to thank for it.

Let me tell you about my November. I had three million dollars in personal production. The leads came from several different sources. My closed client database of course, my networking group, my loans in process and Realtors all contributed. From a marketing standpoint, nothing is a magic bullet to a full pipeline but a little bit from many sources can make it happen.

The transactions themselves are ALL cause driven. I am sure you are talking to people who are complaining about the market. Please tell them to find cause or solutions motivated borrowers. They can fill your pipeline and you can solve your problems by helping people solve theirs. Purchase transactions (yes, they are still happening), ARM expirations, HELOC repositioning and fixing a $500 per month MI problem created by another broker in October are all examples of the causes I am currently sending to closing or have just closed.

One common thread to all my transactions last month is the use of Mortgage Coach. First, as you know, for years I have used Mortgage Coach as a cornerstone of my sales process so I am not going to stop what works now. Second, with people concerned about "toxic loans" and bad brokers I want to prove to them that my recommendations make sense. Finally, the numbers don't lie. People will choose to do nothing when they are fearful and no matter the Mortgage Coach module, you can show customers the numbers and get them off the fence and into your pipeline!

My advice to anyone struggling in the current market is to do two things to get back on the right track. First, you must market yourself and your service. Leads are not abundant right now and you have to do many different things to get yourself opportunities. Second, once you get those opportunities, use Mortgage Coach to "prove your case" and get people to transact when it makes sense. Be an expert, showcase the numbers and fill that pipeline!

Win Today!

Dylan Kramer

[Scott Yonehiro]

Baron Rothschild, the quintessential banking opportunist, is said to have advised that the best time to buy is when there is "blood in the streets." I agree. A successful mortgage planner embraces this axiom and casts aside the bears and turns bullish in times of maximum pessimism. There is opportunity abound if one only applies tools like the Mortgage Coach to help navigate their way through this volatile market place and find the hidden wells of untapped business. I am just as busy now as I have ever been in the past three years due to the success I have found by utilizing each and every aspect of Mortgage Coach on a daily, weekly and monthly basis. Don’t think about it, invest in the Mortgage Coach now and you can call or email me later to thank me.

Best,
Scott Yonehiro, CMPS

[Cindy Ertman]

Mortgage Coach has become a very valuable tool for our team. We utilize it with nearly every client and it sets us apart from our competitors. More than ever, we need to establish ourselves as leaders and professionals in the mortgage industry. Only the strong will survive and the strong understand that you need tools to help establish your value and presence in the industry. Referral partners are the way of our future. Our clients are scared and uncertain, and our referral partners will help our customers pull the trigger and give them the confidence to move forward. Mortgage Coach has definitely given us an edge with our referral partners and allows them to see us from a different vantage point than our competitors. If you are as serious mortgage professional, now is the time to utilize every strong tool available to get help get us to the other side. Mortgage Coach will continue to be a tool that helps us accomplish this goal.

Cindy Ertman
Your Mortgage Solution Specialist

[David Kuiper]

Amen, brother! As they say…”when the going get tough, the tough get going”. I couldn’t agree with you more. One of the key mental breakthroughs for me was when I began to think of my mortgage practice as a business. Business owners invest in their businesses. It takes a lot of upfront capital to launch a business. Why are we afraid to put up money to build our businesses? Maybe it’s because we haven’t had to in recent years. I’ve been thru a couple of down cycles like this before, and this is the perfect time to be investing in yourself and your business. Your competitors won’t. When all the dust settles, I want to be the last man standing. I want to do everything I can to be the very best that I can and do everything I can to differentiate myself from my competition. I know it’s tough to spend when the money isn’t coming in like it used to, especially if you don’t have it. It seems like a risk…like throwing money away. But with the risk comes reward, and I’m in this thing for the long haul. Enough of my rant. A big thumbs up to you, Dave, for all you’re doing with Mortgage Coach. Now more than ever, MC helps me stand head and shoulders above my competition. I use it religiously with every client, and can’t even begin to total the business that I’ve gained from having it. Sign me up for another year!

David Kuiper

[Bill Hillestad]

Old fashioned “Loan Officers” are becoming obsolete and quickly moving towards extinction. The good news is that the ones who are able to evolve will win big. It’s not enough anymore to simply react to a clients request for a mortgage by telling them what they do or do not qualify for. You have to work proactively to create an ongoing stream of opportunities for your potential clients and if you become proficient at doing so you will discover that they have need of many more loans than they would have ever realized if left to flounder without a mortgage advisor. I spend all my time teaching originators how to turn the current market conditions into the opportunity of a lifetime and Mortgage Coach makes it infinitely easier to do that.

Bill Hillestad
CEO iQual.com

[Scott Sheldon]

Mortgage Coach is a vital tool of my business. I use Mortgage Coach just about everyday. When I first bought the license I was skeptical, but went ahead and tried it anyway and it paid for itself within 2 weeks.

What I like about it, is that when I send it to a client it’s totally unexpected in that it’s something they have never seen before. The total cost analysis alone, just showing that to a client and explaining each option in detail really sets me apart from my competition because I know they are only operating on rates and fees and thank goodness!

This software immediately begins creating trust and my in market, home values are taking a big plunge and if I didn’t have Mortgage Coach, I’d be at a big disadvantage. It also saves client loan scenarios so within seconds you can have your client’s loan and debt picture on your computer screen when they call you. Mortgage Coach is homerun and it’s an invaluable sales and marketing tool for my business! I’ll be a user for life, no doubt about it!!!!!

Scott Sheldon

[Dan Green]

A CMPS advising homeowners without The Mortgage Coach is like Tiger Woods playing golf without a driver in his bag.

Sure, he's still good enough to compete (and probably even win), but he's never going to dust the competition.

[Jonathan Klein]

I have been a Mortgage Coach and Marketing Machine user for the last year and a half. It has been invaluable but not in the standard way that most users would think.

Yes, mortgage coach helped me close more loans write out of the box by eliminating the competition or the need by prospects to seek alternative advice. In fact it was on the rare occasion that I didn’t use MC (Shame on Me) that I failed to close a client. What Mortgage Coach and subsequently The Marketing Machine did for me was make me get better. How? You know when you put on an expensive suit that fits just right and you know you look great, you walk just a little taller, straighter and with a perfect purpose? This what MC and MM have done for me! When I mail my materials to a Divorce Attorney or Therapist the expectation is that the person who sent this is a professional and so when we eventually meet I’m on my game. In fact I am on my game all the time now with a perfect purpose statement, practiced and rehearsed and always ready to go. MC and the MM are like networking. You go to an event you meet someone new and know exactly what you are getting from that introduction and then after a couple of weeks that one person as introduced you to your biggest deal ever. You never expected it, but it happened. This is what Mortgage Coach and Marketing Machine are to me. I got a whole lot more then I had ever anticipated!

Now regarding the Marketing Machine, it is absolutely the most valuable tool in my practice. For $600.00 dollars per year I can print out as many full color, 25 page brochures as I like and let me tell you I use it. On a monthly basis I will print and bind over one hundred of these for clients as well as speaking engagements and mailers to attorneys and therapist. It is my calling card and it is very impressive when viewed. Before I had The Marketing Machine I had no brochure and spent hours typing letters tying to explain what I do, now the brochure does that for me.

I write this because Dave had the foresight to see in me the value of my Divorce Planning practice and offered it to all of you. Because of that one interview I have received an out pouring of support for this new and exciting practice opportunity and have spoken to such tremendous professionals that have added value to my practice on a daily basis and I did not expect this!

Survival and or having a mentality that you will hang on till things get better is not a strategy, but rather a tactic to a very quick dead end. You must find uncontested market space, as I have and then make sure that you have the tools to market, sell and close it. This means that you may have to make immediate sacrifices in order to achieve this goal. Look, I have two cups of coffee every day at $2.50 a cup this equates to $150.00 dollars per month! Think of what that money would purchase in tools to grow your business and gain that money back 20 fold. Mortgage Coach & the Marketing Machine are the closest thing to a life-preserver you’re going to see in this market. No excuses! Get your butt in gear; put together a new year’s strategy and tactics to make 08 the best year ever. There are plenty people out there that will mentor you and ask for nothing, I have seen it and I will do it for you ask any one!

Jonathan Klein

[Eric Bohn]

Dave,

You really hit the nail on the head with this blog post!

There are more leads out there than any one loan officer or team of loan officers can handle right now, you only need to be willing to adapt to the changing market, use the "bad press" to your advantage, and invest in yourself, your practice, and your future by making sure you have the only tool which allows you to take full advantage of the innumerable opportunities present in this market. That tool is Mortgage Coach.

A market like this brings leadership and trust squarely back into focus where it belongs. Clients are so thirsty for leadership and trust they will crawl through the desert toward a mirage, and when they discover there is no water, they will drink the sand. Drinking the sand, so to speak, is one of the reasons why we are in the market we are in right now. The press is hammering negative information into clients heads on a daily basis, the benefit of this is most clients are no longer willing to "drink the sand", they instead absolutely demand to work with a high quality experienced professional because they realize the long term value of the advice your practice dispenses.

Clients are desperately looking for referrals to mortgage professionals from trusted sources such as the financial and legal advisors in their life right now. Helping these referred clients design a long term mortgage strategy which benefits them and helps them reach their financial goals has never been easier when you have the right tool at your disposal. Referral partners help cement the high trust relationship you need with new and existing clients. Put yourself in the shoes of a prospective referral partner for a moment. Are you going to examine potentially forging a long term referral relationship with a loan officer who claims to have the lowest rates, and occasionally drops off donuts and rate sheets, or are you going to forge the long term relationship with the mortgage professional who can quickly demonstrate HOW their advice makes a difference in the life of a referred client and can show you in black and white the positive financial impact that mortgage professional makes to their own personal bottom line? Mortgage Coach makes this easy to do.

In sports terms, the comparison is more akin to a baseball player trying to use a plastic wiffle ball bat in a major league baseball game. If you want to get out of little league and enter the major leagues then you need to use a major league standard bat. Mortgage Coach is the major league standard bat of our industry.

Eric Bohn

[Les Berman]

I can't imagine being in business without MC. I first heard about the product at a trade show, and bought the software. I looked at it, played with it, but didn't do anything with it. Then I saw something on the MC website about advanced training with Ron Quintero. I signed up - what could I lose? a few bucks.

The first session made me realize the power in the software. I closed a deal within days of learning how to use it. Now, I can't imagine doing a loan without it.

Case in point - a couple came in to see me and I had already prepared the Total Cost and Equity Repositioning Report. I was using a projector so they could see the numbers clearly. I was able to show them how we could pay off all their debts, take money out to start a 529 plan AND reduce their payments. The woman, when she realized, by seeing the hard numbers, how their life could be restarted, burst into tears.

Case 2 - a 70 year old woman had a house, clear title, that was worth about $1.6 Million. Again, I used the projector, Total Cost, Equity Repositioning and spent two hours with her creating different options. I did an $700,000 loan and gave her great liquidity for her retirement.

I talk to people when I travel and ask them what tools they use. Many , for some reason, were not aware of MC. I asked them questions, gave them examples, and some still did not get it.

What I don't get is how any mortgage professional can continue to close deals without MC.

[Steven Johnson]

Is the cup half empty or is it half full? Will your business wither up and die or will you thrive.

Here is the bottom line. There is only ONE tool out there that that allows you to show your clients how to choose the best mortgage. That tool is Mortgage Coach. If you are not using Mortgage Coach my question to you is...are you nuts?

The mortgage game has changed and now it is up to you to figure out if you are going to stay in business. You can't be a carpenter without a hammer and a saw and your can't be a Mortgage Planner without Mortgage Coach. It is just that simple.

If you look at all of the marketing opportunities that are still working they all revolve around one common denominator. The ability to prove to your client which mortgage program saves the client the most amount of money for their specific time frame and needs. Let's face it...the numbers don't lie and Mortgage Coach provides empirical proof.

So if your goal is to thrive in this market then Mortgage Coach is the one tool you simply cannot do without. Not only will you have the best number crunching beast in the market but you will have free access to the most forward thinking and creative marketing strategies from the top producers in the US. They will tell you exactly what is working NOW and how you can implement these innovative marketing strategies and techniques. Best of all that information is FREE when you are a Mortgage Coach Member. So what are you waiting for?

Become a leader, invest in yourself and thrive!

[Durell Patrick]

Thanks for the innovative tools and advice. Without the Mortgage Coach I would not be in the business.

[Tom Griffith]

Thank you, Dave, for having the courage to put a number on the problem; I think you are probably conservative in your recommendation of needing to do 30% more. In my practice, I have increased, doubled and re-doubled activity in a few key areas and, yes, one of those areas is Mortgage Coach.

Several posts mention the dedication to investing in our practices. Today, we must be willing to spend money when conventional wisdom might suggest other wise; the very counterintuitive approach we preach must now become our own cookin', and if we are to flourish, we better like eating it.

I have refocused how I market, how I present and even how I define my practice. I am no longer a loan originator; I am a financial educator. I don't even own a mortgage company any longer; I own an event management business. My practice may not look any different to an outsider; the change in my internal perspective has been enormous.

It does rain leads in my office these days and Mortgage Coach allows me to solve complicated, emotional lending issues for my clients swiftly and effectively. Often, my clients don't even know they need to make a change in their liability and MC illustrates the true answer for them; the process isn't reliant on me having to "tell 'em and sell 'em". In fact my clients often arrive at a buying conclusion on their own, tapping on the monitor saying "I want that!" It is incredible how much opportunity is found in times others call disaster; success is in the transformation to education.

Good job, Dave; I am thankful to you for great tools and great insight!

[Todd Ballenger]

Dave, Great post ‘stand for something or fall for anything’. If loan officers aren’t leveraging Mortgage Coach in a marketplace like this they are missing the boat big time. MC is a critical tool to uncovering the hidden opportunities in today’s marketplace by releasing the vision for the consumer that they are responding in this market with a partner that understands what is at stake for their future. The value of the loan officer’s advice is only valued by the client if it is visible to the client. Mortgage Coach makes that advice palpable like no other tool in the industry today.

[Louise Thaxton]

At the beginning of November, my pipeline looked pretty grim. Several thousand soldiers had been deployed and left the little town which is the source of 90% of my business a literal "ghost town". The realtors who normally referred 3-5 deals were month to me were only closing one deal per month! I needed to do something and do it quick!

I turned to my database. Now, I regularly market to my database and have for some time. However, I knew I had to do something different. The first thing I examined was myself. I was calling myself a "mortgage planner" but was I? I looked at the people I was marketing to and what I was sending them. Was it really valuable? To them personally???

Then I had my assistant pull every loan I had done in the last 18 months whose interest rate was over 7% or who had a high MI. I couldn't believe the list! It was over 100 names! What these people needed was a mortgage planner who cared about helping them with a lower monthly payment! I would be that person - beginning immediately.

I began the discipline (yes, I did say discipline) of sending out 10-15 Mortgage Coach Analysis per day along with the Strategic Homeowner magazine I had ordered from Steven Marshall, and a pen or highlighter. I hand addressed the envelopes and it was quite bulky when I finished to ensure they would open it! I did a personal analysis on what their loan payment was now, and what it could be with a refinance. Most of these were FHA rate/term refinance options and on most, I was offering them an option that would lower their payment by $300 to $500 per month.

I did this for two weeks - every day. I grew sick and tired of it, but each day, Kathy would ask me "How many are you sending out today?" I had asked her to keep me accountable. I was working 9-10 hours every day, doing what I needed to do on loans in process, plus the extra hours of putting together the analysis and handwriting notes and envelopes.

However, it wasn't long before the payoff started - some clients started calling me - asking questions - expressing concerns - we started the preapproval process on many!

I can't believe that those two weeks have paid off so handsomely! I now have 4 FHA refinances in my pipeline to close in December (and making 2-3 points on each), and all saving hundreds per month, 4 other clients who are considering a refinance after the first of the year, several that we are working on their credit because right now they won't approve for a refinance, and one referral of $250,000 from a client who didn't want to refinance but sent someone else who did.

I love the quote from Jim Rohn, "....to have more, we must first BECOME more..." - I guess I realized that the title "mortgage planner" means nothing if you are not helping your clients plan their mortgages. Duh....as my kids would say! It was a wake-up call for me. I needed to do more than send recipe cards and household tips and flyers. I needed to reconnect with past clients on a PERSONAL basis and become involved with their finances NOW.

Also, I am including the following quotes from Jim Rohn which I think are so relevant to us right now, Dave.

[Louise Thaxton]

The following is a quote from Jim Rohn:

You've got to put in the long hours and put up with the setbacks and the disappointments. You've got to learn to enjoy the process of disciplines and of putting yourself through the paces of doing the uncomfortable until it becomes comfortable. You've got to be prepared and willing to attack the challenges if you want the success because challenges are part of success.

Now that may sound like a full menu of activities, but let me assure you that the process of going from average to fortune isn't really all that difficult. Thinking about it is the difficult part. Anticipating all the effort and the changes and the disciplines is far worse in the mind than in reality. I can promise you that the challenges you'll meet on the road to success are far less difficult to deal with than the struggles and the disappointments that come from being average. Confronting and overcoming challenges is an exhilarating experience. It does something to feed the soul and the mind. It makes you more than you were before. It strengthens the mental muscles and enables you to become better prepared for the next challenge.

I've often said that to have more, we must first become more, and to become more, we must begin the process of working harder on ourselves than we do on anything else. But in addition to gathering new knowledge, new skills and new experiences; it is also important to discover new emotions. It is how we feel about what we know that makes the biggest difference in how our lives turn out. How we feel about the chances we have and the choices we have determines the intensity of our effort. Whether we try or don't try. Join or don't join. Believe or don't believe.

I'd like for you to discover some strong feelings about your life and about what you want to do with that life. You probably have much of the knowledge and a lot of the experience and perhaps most of the skills that it takes to become successful. What you may be lacking in are the strong feelings about what you want and what you want to do. You may be one of those who have become so involved in the process of earning a living that you've forgotten about the choices and the chances you have for designing your own life.

Let these strong feelings help you take a second look at your life and where you're headed. After all, you've only got one life, at least on this planet. So why not make it an adventure in achievement? Why not discover what all you can do and what all you can have? Why not discover how many others you can help and in the process how that can help you?

Why not now take the Challenge to Succeed!



Dave - ONE MORE ON THE SEASONS OF LIFE FROM JIM ROHN - I LOVE IT BECAUSE HE TALKS ABOUT 'WINTER' - WHICH I BELIEVE WE ARE IN - WELL, I AM IN.....

So let's begin our discussion of the four seasons. I'll start by making two comments. First, life and business are like the changing seasons. That's one of the best ways to illustrate life: it's like the seasons that change. Second, you cannot change the seasons, but you can change yourself.

Now with those two key phrases in mind, let's look at what I consider to be the first major lesson in life to learn, and that is how to handle the winters. They come regularly, right after autumn. Some are long, some are short, some are difficult, some are easy, but they always come right after autumn. That is never going to change.
There are all kinds of winters - the "winter" when you can't figure it out, the "winter" when everything seems to go haywire.

There are economic winters, social winters and personal winters.

Wintertime can bring disappointment, and disappointment is common to all of us. So you must learn how to handle the winters. You must learn how to handle difficulty; it always comes after opportunity. You must learn to handle recessions; they come right after expansions. That isn't going to change.

The big question is what do you do about winters? You can't get rid of January simply by tearing it off the calendar. But here is what you can do: you can get stronger; you can get wiser; and you can get better. Remember that trio of words: stronger, wiser, better. The winters won't change, but you can.

Before I understood this, I used to wish it were summer when it was winter. When things were difficult, I used to wish they were easy. I didn't know any better. Then Mr. Shoaff gave me the answer from a part of his very unique philosophy when he said, "Don't wish it were easier, wish you were better. Don't wish for fewer problems, wish for more skills. Don't wish for less challenge, wish for more wisdom."

[Brian Koss]

Dave, it's as if you have been listening to my weekly sales calls! Having been in this business for 20+ years I have seen turbulent and unsettling times before. This time may seem to be the Mother of Them All but it is only because the high was SO High! I love these times. They are the great equalizer. The rich become poor and the poor stay poor. Anyone who has a plan, work ethic and morals can succeed today.

The one path though that is clearly lit and dying for attention is that of the Debt Management Professional. It is the path I chose to take in the mid 90's after the last depression in values and volume. I slowly built a business working with RELO agents, builders and realtors into a solid Top Producer model that required many hours and much angst. I then started using Mortgage Coach and branched out deeper into CFP/CPAs. My apps turned into 3 more referrals with MC. I was able to begin to grow my business 3 fold ($100M+ every year since 2000) while managing a $2B+ business. MC gave me more time and enhanced my reputation; two things you can't normally buy. As a Sales Leader I encourage and subsidize the adoption of MC by any of my producers. I have seen great success in those who have embraced the product and worked at integrating it into their business plan.

ALL of us will be required to use our fiduciary responsibility to put the customer in the right debt position going forward. Is there a better tool to make that happen -- to demonstrate to the customer, the referral source, and regulators -- than MC???

Keep up the goodwork Dave and keep lighting the fire under all our asses!!!

[Scott Cummings]

Mortgage Coach Rocks!! I started using Mortgage Coach in 1998 and have originated thousands of loans as a result of Mortgage Coach. I continue to use it to originate loans every week in my business. It is the #1 reason my business remains very strong and profitable in 2007. Why? Because Mortgage Coach provides the best tools in the business to help educate and empower my clients to make informed financial decisions regarding their homes, their mortgages and their money in ways that have dramatically impacted the personal and financial lives of my clients. As a result, I have received over 1,100 thank you notes, cards, letters and customer comments from our clients expressing their sincere appreciation for our services.

Mortgage Coach allows me to differentiate myself from the competition by providing expert in-depth mortgage planning analysis with every new client using the Equity Repositioning Analysis on both purchase and refinance transactions. The Rate Watch reports helps me keep our clients up-to-date and informed on ways they can minimize their interest expense, accelerate their mortgage prepayment and/or improve their cash flow. Lastly the total cost analysis provides the best analysis in the business for helping clients select the most appropriate mortgage financing based on their individual financial goals and their estimated length of home ownership.

If you don't have it, get it and invest the time to learn how to use it. It will be the best investment you make in your clients lives and your personal business. There has never been a better time to differentiate yourself from the competition as a "Trusted Advisor" who is committed to making a difference in your clients lives and the community where you live and work.

Scott Cummings, CMPS

[Chik Quintans]

Great post, Dave! Confidence is really waning not only with our industry, but also with our clients. There is no better time to regain that confidence than with the powerful tools and strategies provided by Mortgage Coach. If you are competing as a commodity, you will be treated as such. However, if you operate your practice with the mindset of an advisor and create a unique process around that mindset that makes a transformational difference in people's lives, you will be revered and treated with respect. Within that unique client experience requires the implementation of Mortgage Coach. My confidence really soared once I really understood an implemented Mortgage Coach into my practice a few years ago. Admittedly it took me a good year to realize what was right underneath my nose. I just had to know where to look and be willing to learn and implement. If you are feeling pain right now (and you have extra time), I think that making sure you are utilizing Mortgage Coach in a strategic manner would be a top priority. Whether my clients are viewing there Mortgage Plan in my office on the large LCD or online, they are captivated and appreciative of the perceived time and effort put into their personal plans. It's time to face your fears head on. Dave, Phil and the team at Mortgage Coach will help you regain your confidence with your clients, and more importantly with yourself. It starts with you. "If it's to be, it's up to me."

[Scott Nicholson]

This market reminds me of a book my mentor(tom bass) made me read when I first came in the business. At the time a read it I was a little unclear on what it realy ment. I think this book was exaclty written for this marekt and everybody who owns it (if you don't go get it and read it) needs to open it up and read it again. Because you are living this right now!

The book is called "who moved my cheese" The book was about how 4 mice would find there food/cheese everyday and what would happen if there food/cheese was moved.

If you have not figured it out yet guys. Our cheese as been moved! And what are you going to do about it? What new path are you going to take? What new plan are who to search with? What type of cheese is it now?

A lot of our mouse friends have died and gone to mouse haven. Are we going to step back figure out that somebody moved your cheese and what are you going to do about it. Die like the rest?

Dave says that you need to find the on covered nugets...

Ways to find those nugets is with MC and it programs and stratigies.

Using the "Seller Buy Down" stratgey going to find new realtors and new consumers! You can do that in 1 day!

That's like getting a cheese map with directions on how to get to it.

I've received a lot of emails and calls about the one particular stratigey.

If you understand it and take your personalized TCA and marketing to a NEW realtor or NEW loan app that is a done deal... Cheese payday.

Remember the one thing I said about this. You need to show this stratigey, not talk about it! Very important.

Scott Nicholson

[Mike Bartman]

I just made my first presentation using the Mortgage Coach’s Total Cost Analysis today and it was nothing short of awesome. I got many “thank you’s” and ”praises” from my clients. I have already reduced my stress level, increased confidence when it comes to presentation, and added tremendous value in showing my clients their opportunities with the help of Mortgage Coach. I set a tone that I have never set before when I was able to passionately say that ‘I am going to show you options with the intention of helping you build your net worth the fastest’. The Mortgage Coach allowed me to back it up with the numbers. I am already satisfied with my decision to invest in Mortgage Coach.

[Sean Briscombe]

I read your post yesterday, and actually thought about calling you or emailing you.

Yeah, I hear you…it's ridiculous! 45% of all loan officers who were in the business before the meltdown are no longer in the business, but business overall has only dropped about 15% total! Who's picking up the slack? Who's taking care of the clients out there who need solutions to their financial problems? Who's actively going through their database (or the databases of some of the LO's who are now gone-friends in the business who just don't want to do it any more can be a great source of new business!)

We, like the rest of the industry, had to adapt to the changes and challenges. It's no longer a slam dunk qualifying people for a mortgage, nor is it like the old days when it was "raining loans" as you put it. It's worse than that, however…I've been talking to industry leaders here in Austin, and asking them what they are doing to adapt…the short answer is "nothing new, kinda in Holiday mode right now". I love to hear that! When I hear the defeat in my competitor's voice or the lack of confidence, I love it! When everyone around me is focused on the challenges or the "problems" as they put it, I see only opportunities! Opportunities to grow (myself, through education, and learning new and unique concepts), morph, change, stay ahead of the curve, etc. While everyone else around me is crying over their laptops because the phone's not ringing like it was before, I'm scheduling more seminars and setting up more one on one meetings, and uncovering more business than ever before. For example…One of my clients who I just met with lives in Arkansas. He owns 20 rental properties here in Austin. We're doing a very detailed asset optimization plan where we thought that we could refinance the 20 properties, pull cash out, and reposition that into some unique investments where he will access the money @ retirement completely tax free! As it turns out, he paid cash for them, and because of the acquisition indebtedness rules and deciding weather that cash out will be taxable, he's decided (based on our recommendations) to sell 20 properties, and buy 20 more…do you know any good realtors out there who can handle that kind of listing and purchase volume? I have another client where we uncovered 15 properties with opportunities to refinance! That's 2 clients and 35 loans…that's the difference between what we do, and what Loan Officers do!

Now is a perfect time to change your business. Clients are feeling more confused, isolated, and powerless than ever before. What a great opportunity for us to change the game! We can bring leadership and direction when they are confused about the markets, relationship and ongoing coaching when they feel isolated, and creativity and confidence in their new "plan" when they feel powerless! That's our job now…to be their "Lead Advisor". We are the quarterbacks of their financial and personal team…we must start acting like it!
If your main source of business has been to go after Realtors, CPAs, Financial Planners, or Attorneys, remember this…with the stock market in constant chaos, and clients feeling confused, and isolated, and really feeling powerless over their financial situation, what better opportunity to get in front of these so called "advisors" and elevate your status to "Lead Advisor"? Teach them about the new revolution of Mortgage Planning, and how it can help them and their clients. Start asking financial planners and advisors how they are showing their clients how to manage their liabilities into assets? How are they showing their clients management strategies for both sides of the balance sheet? If they are just managing the clients' assets, who do they have managing their liabilities to optimize both??

What to do? Well, we completely re-tooled our business when we saw the Marketing Machine product! Anyone who has read Daniel Pink's book, "A Whole New Mind" understands that we're entering into the "Conceptual Age" now where higher value needs are more important than ever before. It's no longer sufficient to hand out a GFE and hope that the client will call you back (let alone understand how to interpret it). It's no longer sufficient to just quote rates and fees. People don't care how many loans you've closed in the past, or how great you think you are in your market…it means NOTHING to them now!

We need to focus more on High Touch/High Concept approaches. Skills like design, story, symphony, empathy, play, and meaning are more important than analysis of the #'s, or having the lowest rates and fees quoted!

Let's break it down:
1. Design-using tools like The Marketing Machine show your clients that not only are you different than the competition, but you're better!
a. It's visually impressive
b. It conveys planning or design, or customization of their situation.
c. It's like the iPod-visually impressive, but creates significance…it's your whole life (pictures, video, and music)…customized, and portable!
2. Story-fashion a compelling story that clients can relate to.
a. When they say they're scared, tell them your story about your first home you financed
b. When you have a client who doesn't trust anyone…let them know about your last client who was worried about their situation, and how you helped them to diminish their dangers, maximized their opportunities, and focused on their strengths (maybe their credit was exceptional, so that was the asset you helped to maximize to put them into an opportunity that they could take advantage of)
3. Symphony-this is not Analysis, but synthesis!
a. Don't focus on just the #'s (although that is important to get them right), but focus on how restructuring their mortgage is going to improve their balance sheet to the point where they will increase their savings, college fund for their kids, retirement plan, or whatever THEIR goals might be…bring it together for them…create the PLAN.
b. This is where Mortgage Coach used in conjunction with The Marketing Machine is not just a bonus…it's a necessity!
i. Remember that you start with their goals at the beginning, then create the plan of action and ongoing monitoring system to help ensure that you're on track for their success.
4. Empathy-what makes our fellow man tick?
a. You must get into their world to truly understand what drives their decisions.
i. You become the Lead Advisor during this phase…depending on your approach!
ii. If you're focused on just the rates and fees, you'll lose every time…if you focus on the why, or the reason they came to you in the first place (their problem that you will solve for them) then you will win.
iii. Again…can't stress this enough…this is where Mortgage Coach and Marketing Machine are a "must have"!
5. Play-make the process fun!
a. Use humor whenever possible (as appropriate)
i. Because most American's basic human needs are all met; food, water, clothing, shelter, etc., people are searching for higher value needs to be met. This includes play!
b. Don't take yourself so seriously! You're not that important of a person…but you can be for them if you can get to the point of relationship. It takes finesse, though.
i. Example: a boy who worked at a grocery store had a sweet elderly woman come up to him and ask, "can I buy a half of a head of lettuce?" the boy replied, "no ma'am, we don't sell just a half of a head of lettuce". The elderly lady continued to request only a half a head of lettuce, saying, "I just need a half a head of lettuce, not a whole one". The boy finally said, "let me check with the boss". He walked to the back of the store, and said to the owner of the grocery store, "hey…there's a crazy old coot out there who is insisting on only buying a half a head of lettuce…she's really old and crotchety, and is nuts…what should I tell her?" Before he finished his sentence, the boy saw out of the corner of his eye that the sweet old woman had followed him to the back, and had just heard everything that he had said. As he turned around to face her, he continued without missing a beat…"and this sweet, lovely, kind woman here would like to buy the other half. Can we sell that half to her?"
ii. It's all about finesse with clients…they are searching for fun!
6. Meaning-this is the "HOW TO" of your approach.
a. This is the most important of the 6 new skills to master.
b. Because of abundance (we all have our basic needs met), automation (computers can do things faster and better than we can-there are approximately 8 million web pages with mortgage calculators…do clients really need you to do another GFE to figure out what their payments will look like?), and Asia (if your job can be outsourced to India or China, there's no significance in what you do-there are at least 2 new companies set up right now in India where they will automate the mortgage process for you by computer. They are working on automating the whole home purchase process!! Trust me…they will be doing it cheaper than we can or a Realtor can!
c. How does this new plan fit into their goals?
i. Like is says in the Marketing Machine collateral; Their Goals+ Our Plan = Total Strategy!
d. This is what your competition will not be able to compete with (if you use this approach).
i. The "HOW TO" of the process can never be outsourced.
ii. If you can illustrate how you're going to solve their problem, plus how you're going to be monitoring their success and providing coaching along the way…then automation and Asia cannot win.

Weather or not you want to move into the Mortgage Planning and Asset Optimization movement or not…it's already here. What we want to do is to embrace it, and to use the tools available

So…get smart about these strategies, and use the tools @ Mortgage Coach which are available now to restructure your business for the new year! It's going to be a great year. There's $12 Trillion in home equity nation wide right now…that's a huge game! How much of that money would you like to help clients reposition?? Well…sign up for Mortgage Coach and start using it daily!

[Cezar Mansour]

Riches found by using the Mortgage coach…

That is what has happened to me… During this down turn, my business has taken an UP-TURN… I see the people in my office who are having a hard time, and they are the ones who do not use the mortgage coach…

That is the difference between the winners and the losers… in every walk of life… the losers talk about all the problems… The winners know what those problems are, yet focus on what to do to get past the problems… and let nothing stand in their way… Nothing… As Magic Johnson put it… “I love a challenge, and I’m a winner”…

I have taken the time (about 3 weeks of 1 hour per night) to input all my past clients into the mortgage coach, and have begun using it as a tool to improve my “Value of Service” … The losers have not taken the time, and have actually cut back on marketing…

While I have kicked it up a notch and use the Mortgage Coach Marketing Machine to get my message out there… another reason for my Up-turn, in “their down market”… I say this because “my up market” is just that up! … Rates are low, and values are down… what a great time to be in the industry, when all my competition is quitting and cutting back on their marketing…

I use the Rate Watch Report the most, to help me stay in touch with my clients, and prove that I am managing their mortgages, I also show my new clients, a print out of the Rate Watch Report, and explain to them that they will be receiving this once a month, and will be meeting with me once per year for a Debt and Equity Review… I tell you this works to add Value and trust… as well as get you referrals…

When the conversation turns to Mortgages, I ask my friends, and people I meet, “who manages your mortgage”? They will always say Huh? What do you mean…?

As we all know, people will Refinance or get a home loan at least 5 to 10 times in their life… and I plan to get most of those… and using the mortgage coach helps to insure this…

So the next time you think about not using the mortgage coach, remember this, if I meet you friend or client, I will be their Mortgage planner, because I have taken the time to become a pro in this field…

There is enough business out there for all of us; it is just a matter of focused effort…

All the best to you in 2008

Cezar Mansour - Mortgage Coach Advocate

Author: The official Guide to Building a Referral Based Business

President and Owner

Beach Lending, Inc.

Redondo Beach California

www.beachlending.com

[Matt Willams]

You've got to go out on a limb sometimes because that's what the fruit is.
-Will Rogers

Is anyone else seeing the bleak, charred remains of torrid landscape of what once was the mortgage industry? If anyone dismayed by how banks and lenders have faulted brokers completely without taking any responsibility themselves? Does anyone feel like they're getting the short end of the stick due to no fault of their own?

If you are lost down any of these rabbit trails let me give you a blinding flash of the obvious. Welcome to a different world. You're no longer planning in a world where everybody walks away a winner, and where stated loans go unquestioned. I distinctly remember a time when an appraiser seemed more than happy to find an extra $30-$40000 in home value, and I shudder to think how many poor Americans were suckered into bad loans because of that bad appraisal tactic among many others. We're not in Kansas anymore ladies and gentlemen, and if we want to survive we have to flow like water through the circumstance, taking out the good and discarding the rest. I've never been a big fan of the “rah rah rah, you can do it!“ type of speech, because I, like many professional mortgage planners out there, already know what I am capable of.. Like space control in the movie Apollo 13, failure is not an option.

But are you ready for the good news? The little shining bit of insight that all of your competition is missing by a mile? People still need money. Call it cliché call it outdated or call it unoriginal but it's true no matter how you slice it. More and more of the Johnny knuckles fly-by-night lending institutions are falling off the map in rapid succession, and I would like to see the true mortgage professionals in this country stand by me at the door and escort them out smiling.

The thing that bothers me is the fact that when people are given the freedom in scientific studies to be able to act in whatever way they choose, they tend to act the same way as other people around them. Were creatures of habit and were creatures of interaction and so we take the values and beliefs of a common group and easily assumed that applies to us. Here is another one of those revelations for you: if you really want to make it in a changed market all you have to do is change with the market. Overly simplistic? Au contraire, I say it's a simple answer that is often confused with complex marketing plans and complex advertising with just a dash of panic over the entire operation to keep most mortgage institutions running like a 1930s roller coaster, barely holding on.

It's really easy for me to say gosh, mortgage coach has revolutionized my life and my mortgage practice in positive ways from day one. But if you're reading this you probably heard that a few times before now. Let me give you a little bleaker picture: if you're not leveraging the proper tools to get the maximum benefit out of your time and energy you're on borrowed time. Mortgage coach is one of those tools, and it has been the cornerstone to everything that I have done leading to my current success and undoubtedly to my future successes as well.
If you actually want to give this thing a go, this thing being a profession in the mortgage industry, you're a paper tiger if you don't have mortgage coach.

About a year ago I bought five licenses for mortgage coach because for me it's not a question of whether or not I'm going to use the license the question is when. Let me sum up my soliloquy in simplistic terms. If you compete against someone using mortgage coach and you don't have it you're going to lose. There goes $5000-$10000 out the window, just like that. I ask you, as I have asked many of my close associates in the industry, are you really willing to take that chance?