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Vol. 125

Broker Banker of the Month:

ALLAN

Khoshbin Debt Relief Law Center, APC

Using Video

To Promote Yourself Is Simply Smart Marketing

Earn New

Realtor Partners without Spending a Dime!

Fight Back And Win! Debt Relief Law Center Is In Your Corner, Fighting For You and Your Clients

Avoidable Mistake #2: The Danger In Hoping Things Will Get Better

Abundance Mentality and Predicting Your Referrals

AMERICA’S TRADE PUBLICATION FOR LOAN ORIGINATORS


D ESI GN I NG T H E B R OKER B A N K E R M A G A Z I N E S I N C E I T S B E G I N N I N G

C O R P O R AT E I D E N T I T Y L O G O S BROCHURES C ATA L O G S WEB SITES POSTERS D I S P L AY B O O T H S S TAT I O N A RY S E T S I L L U S T R AT I O N S A P PA R E L . . . A N D M O R E

S I M P L I C I T Y W W W. K AYA D E S I G N . C O M

|

I N

D E S I G N

805-495-8215

|

J O N @ K AYA D E S I G N . C O M


BrokerBanker

FEATURES 5

9

11

Fight Back And Win! Debt Relief Law Center Is In Your Corner; Fighting For You and Your Clients Broker Bankers product of the Month

Avoidable Mistake #2: The Danger In Hoping Things Will Get Better By Brian Sacks

Abundance Mentality and Predicting Your Referrals By Ed Craine & Ivan Misner

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Commercial Loan Exchange

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Residential Loan Exchange

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Earn New Realtor Partners without Spending a Dime!

By Erica McClenny

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Industry Service Providers

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Using Video To Promote Yourself Is Simply Smart Marketing By Byron G. Torres

Private Money Loan Exchange

BROKER BANKER STAFF

Executive Publisher: Editor: Staff Writer: Staff Writer: Design: Production: Photography:

Ed Craine Deborah Kaya Ed Craine Jennifer Hadley Jon Kaya – Kaya Design Kaya Design Vinit Satyavrata

ARTICLES

BROKER BANKER MAGAZINE welcomes editorial submissions. Send your article ideas and letters to: BROKER BANKER MAGAZINE 2645 Ocean Ave. #202, San Francisco, CA 94132 or fax us at: 415/406-2340 or email to: ed@brokerbanker.com

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BrokerBanker | Volume 125, 2009


Fight Back Debt Relief Law Center Is In Your Corner, By Jennifer Hadley For Allan Khoshbin, a California Attorney specializing in Real Estate, Finance, and Bankruptcy Law for more than 15 years, 2009 became the year that brokers and their clients would finally be able to engage in a fair fight to save their homes from foreclosure. Indeed, with the launch of Debt Relief Law Center and its signature Comprehensive Loan Audit Packages, brokers and their homeowner clients now have the leverage they need to fight powerfully and effectively for their right to a reasonable loan modification. And if a suitable settlement can’t be reached with lenders, well, they’ll have the power to litigate against lenders who are guilty of State or Federal violations. According to Alek Hagigi, Department Director for Debt Relief Law Center, “More often than not, homeowners--and even their brokers--don’t understand that they have legitimate legal courses of action they can take to prevent the loss of their home. They aren’t powerless against these large lenders. The truth is they do have rights. When the instrument (the contract)

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BrokerBanker | Volume 125, 2009

by which a homeowner is obligated to pay is flawed, the contract no longer remains valid.” And in 90% of the Loan Audits that Debt Relief Law Center has conducted for clients, those contracts are indeed flawed. But it’s not just homeowners who feel powerless, as Hagigi (himself a licensed California Broker and Registered Financial Advisor) points out, “Any broker who has had loan modification submissions sitting in the lender’s office for 9 or 10 months only to finally receive notice that the lender is rejecting the modification, knows how frustrating this process can be. By partnering with us, we can provide the power brokers need to ensure the successful modification of clients’ loans and to have those previously rejected modifications reversed.” Here’s how Debt Relief Law Center, Allen Khoshbin, and his team of eight Co-Counsel Attorneys are able to do this. The Strength of Signature Loan Audit Packages “The Comprehensive Manual Audit we offer to our clients and partners is the most indepth loan audit available. Our team pours over each loan document, checking for more than 50 possible Federal and State violations,” says Hagigi. Concurrent with the manual audit, Debt Relief Law Center provides a Financial Audit, investigating the lenders’ financial practices, fees, rates, and compensation strategies. The combination of these two audits far supersedes any automated audit available, and with good


BrokerBanker

And Win! Fighting For You and Your Clients

cost to the lender if action is refused versus the benefit reason. Debt Relief Law Center offers a 100% money back that an agreeable modification resolution would yield is guarantee to clients and brokers if they are unable to find any also provided to clients. When considering the potential violations. “We don’t want a penny from anyone unless we cost of going to court over actions that have already been can find something that will help them,” Hagigi explains. clearly identified as fraud, lenders are much more willing to consider or reconsider the Modification Proposal provided. While Federal violations of the Truth In Lending Act (TILA) Finally, for good measure, just to ensure that the lender are commonplace, it is often the violation of California knows how serious the client is about fighting for their right State Laws, which give homeowners the most leverage in to a fair modification, the first page of a potential lawsuit, demanding a loan modification. “California’s Statutory and based on general legal guidelines is provided. Finance Code is one of the most stringent in the nation. It is extremely favorable to consumers,” Hagigi says. So although “Our goal is to be the voice of hardworking Debt Relief Law Center regularly finds multiple homeowners. We are not advocating that violations of TILA, the fines for these violations everyone should just be allowed to keep their aren’t particularly frightening to lenders. State Fight Back homes without paying for them. We are here Violations on the other hand, including Negligence, And Win! ALLAN Khoshbin for those who want to continue paying their Inducement to Fraud, or Predatory Lending acts, mortgage loans and who want to remain can actually be far more intimidating to point out in their homes. We are here for those who to a lender, which is exactly what Debt Relief Law legally cannot be forced out of their homes, Center shows its clients how to do. and won’t allow that to happen without putting up a fight,” Hagigi remarks. “But, Following the extensive research into potential homeowners absolutely need legal expertise violations, Debt Relief Law Center provides its when deciding to put up this fight. Working clients with an outline for a Demand Letter to with our attorneys ensures that they don’t waive any of their the Lender, insisting upon a mutually beneficial resolution rights by simply beginning a loan modification on their own to the homeowner’s hardship through a modification. This or with a modification company.” first course of legal action serves to “draw the attention of the legal division of the lender, as it demonstrates that the To that end, Debt Relief Law Center is one of the few law client has had an objective third party conduct a line by line firms in the nation who will litigate on behalf of their clients, examination of the loan, and fraud has been found,” says giving even more power of negotiation to homeowners. Hagigi. Should the lender decide to ignore or reject the However, the majority of the time “the threat of legal action modification solution provided, the client is within his/her gives us the results we need for our clients, and litigation is right to file a lawsuit, potentially tying up the lender in a unnecessary. We never push for a lawsuit, but we’re there if long, nasty lawsuit. our clients do wish to pursue litigation” Hagigi adds. It is this threat of legal action that makes Debt Relief Law The Power of Partnership Center clients’ loan modification submissions a priority for It’s clear that Debt Relief Law Center serves as a strong the lender. But the Demand Letter doesn’t stand alone. A Continued on Page 7 customized Cost/Benefit Analysis representing the potential Vol. 125

Broker Banker of the Month:

Debt Relief Law Center, APC

Using Video

To Promote Yourself Is Simply Smart Marketing

Earn New

Realtor Partners without Spending a Dime!

Debt Relief Law Center Is In Your Corner, Fighting For You and Your Clients

Avoidable Mistake #2: The Danger In Hoping Things Will Get Better

Abundance Mentality

and Predicting Your Referrals

AMERICA’S TRADE PUBLICATION FOR LOAN ORIGINATORS

Volume 125, 2009 | BrokerBanker

6


BrokerBanker

Pictured Above: Client with Alek Hagigi going over their loan audit Pictured Left: Allan Khoshbin Pictured on Front Cover: (Left to Right) Ramella Rostamou, Alek Hagigi, Bettinaz Namik (Back) Allan Khoshbin, Vali Raoufi (Front)

ally for homeowners facing financial distress, but how does a partnership with this professional legal team benefit brokers? The answer is simple. All parties involved are after the same objective: to keep homeowners in their homes. As Debt Relief Law Center does not handle the submission of the loan modification, there is no threat that brokers will lose the modification business. On the contrary, Debt Relief Law Center is there to provide legal expertise and support that brokers can use to leverage their negotiation power with lenders. “It is absolutely important for brokers to have partners with legal experts. We give them the ability to turn the tables on lenders who might otherwise refuse to modify loans. We want the banks to play ball, and we provide brokers with the legal support that helps convince the lender that it is in everyone’s best interest for an agreeable modification to be obtained,” Hagigi explains. Partnering with Debt Relief Law Center also alleviates stress on brokers who may have collected modification fees but haven’t yet been able to obtain financially sound modifications for clients. “We don’t request band-aid modifications for 2 years only to have the homeowner back in the same position all over again. We insist upon modifications that the homeowner deserves and can afford, 7

BrokerBanker | Volume 125, 2009

such as a reduction in interest rate for the full 30-year term. In this way, we are providing brokers with a way to keep their clients happy,” Hagigi adds. The evidence clearly proves that there are countless benefits to homeowners and brokers who choose to fight for a fair modification using the legal tools that Debt Law Relief Center supplies as their leverage. From expediting the modification process, to keeping Americans in their homes, to making loans affordable, to litigating if necessary, Debt Law Relief Center may just be the strongest and most powerful legal partner to have in your corner now and in the future.

Debt Relief Law Centers, APC is based in Los Angeles, CA.

For information, contact Mario Fernandez at

888-350-4460 or visit www.drlcapc.com

Pictured Right: Stacy Datt (Processor)


CAMB Mortgage Brokers Setting Mortgage Industry Standards for Ethical, Professional Loan Origination! The California Association of Mortgage Brokers (CAMB) is an organization of licensed brokers and loan originators who advocate for consumer protection, preservation of sound home-financing options, and honesty and integrity in the mortgage industry. Of the thousands of loan originators throughout the state of California, CAMB brokers are the ones who have set the standard for being a trusted resource in helping consumers attain the American Dream of Homeownership. CAMB brokers also set themselves apart in the following ways: ★ DRE licensed – Each CAMB loan originator is individually licensed by the Department of Real Estate. CAMB brokers are legally and ethically accountable for everything they do under their license. The DRE license obligates licensees to act with the utmost care, integrity, honesty and loyalty in dealing with their clients, as well as the exercise of reasonable skill, fair dealing, and full disclosure. ★ Clear Background Investigation — All CAMB loan-originating members have been subject to a State and Federal background check. Only DRE licensees with clear records are invited to join the Association. ★ Code of Ethics – CAMB brokers adhere to a strict code of ethics and professional standards that are strictly enforced by the association. Brokers who have been shown to have participated in illegal or unethical conduct are excluded from membership. ★ CAMB Best Practices Handbook – CAMB’s Code of Ethics and Professional Standards are set forth in the Best Practices Handbook. The Handbook provides members with a detailed guide to help conduct their business practices with honesty and integrity for the benefit of their borrowers. ★ Consumer Protection Worksheet – CAMB brokers also use the proprietary CAMB Consumer Protection Worksheet to guide potential borrowers through the lending process and educate them about their financing options. The sheet is used exclusively by CAMB brokers, ensuring that consumers who choose CAMB loan originators fully and completely understand the loan product choices available to them. ★ Education – In order to maintain their licenses, CAMB brokers participate in a minimum of 45 hours of continuing education classes every four years. They also attend educational seminars throughout the state and the nation keeping them up to date on regulatory changes and loan products so they will be able to deliver the best possible loan products and service to their borrowers. ★ Lending Integrity Seal – Because CAMB loan originators are licensed, have undergone FBI background checks, completed extensive professional classes, and are members of both CAMB and the National Association of Mortgage Brokers, each member is qualified to display the Lending Integrity Seal, assuring that they will always conduct their business according to the highest standards of ethics and integrity in the mortgage industry. CAMB mortgage brokers: the best in the home financing industry!


Avoidable Mistake #2: The Danger In Hoping Things Will Get Better By Brian Sacks In keeping with my promise to share the eight dumbest mistakes we can make as mortgage originators, it’s now time to tackle one of the more controversial of these mistakes. While many will argue that we need to keep hope alive at all costs, that things will get better in the industry, it’s frankly irresponsible to rely on the certainty that things will improve. I’m not saying that we shouldn’t remain positive; I’m just saying that counting on things getting better is dangerous in its own right. With that said, let’s look at why “Hoping Things Will Get Better” is my Dumbest Mistake #2.

“Dumbest” Mistake# 2: Hoping Things Will Get Better Suffice to say, over the course of my career I have had many struggles, and maybe right now you are experiencing the same struggles I’ve grappled with. When I started in the origination business, interest rates were in the mid teens, and the country was in a recession. (Of course that recession now seems laughable compared to what we’re currently dealing with, but that’s neither here nor there). But, I’d like to share a thought I heard from a good friend of mine, Lee Milteer, who is a motivational and productivity guru. Lee always says, “You can choose whether you want to be a victim or not.” It’s brilliant in its simplicity, right? But still, I’m not here to tell you everything is always going to be rosy and great. I am here to let you know that hope alone is not a strategy. But like Lee says, I’m also here to tell you that you don’t need to be a victim of circumstance. See, for many years, I put all of my proverbial eggs in the basket of hope. I hoped rates would come down. I hoped I would meet an agent that liked me and would give me business. I hoped that I would land that big subdivision and be able to do all their loans. I hoped I would be able to make enough money to pay my bills. I hoped that I would find that “magic pill” that would produce income like the goose laying the golden egg. But what did I learn from this? I learned the hard way that hoping got me nowhere. It frustrated me. It shook my confidence, and it will do the same for you if things don’t turn out the way you want them to, no 9

BrokerBanker | Volume 125, 2009

matter how much you hope they will. Instead, consider living by the credo that helped steer me away from the mistake of relying on hope: “If it’s going to be, then it’s up to me.” Go out and start making things happen. I promise that you really can achieve your goals when you want to by using a few simple tactics.

First, realize that the key to your success is all about understanding other people’s motivations and then simply giving them exactly what they want. Period. Second, ask yourself these two questions: 1: What am I doing to generate new business? 2: What results are these strategies producing for me? What you need instead of just hope is a plan, a map! Let me illustrate this with an example. Let’s say I told you to meet me in Kalamazoo tomorrow, and I will give you a 1 million dollar bill. The first thing you would need to do then is to get a map, right? Then you would need to follow that map and route to make sure you were on track. Did you make a wrong turn? Did you get off at the wrong exit? It’s the same with your origination business. You need to have a road map and goals. They must be written down to be effective. Then you need to monitor your progress to make sure you are on track to achieve them. If you have gotten off track or if the market has turned, you must adjust your map and plan and get back on track. You don’t just hope you stumble upon Kalamazoo. So, don’t get me wrong. Hope isn’t a bad thing at all. In fact in this economy, some days it may seem like it’s all we have. But, the truth is hope without a plan, strategy, or map in place to help us get to our goals is nothing more than an exercise in futility. Brian Sacks is the CEO of www.loanofficerformula.com. He has been an industry expert for over 24 years closing over 6000 loans totaling

1 BILLION Dollars. Brian has trained thousands of originators and

company owners in North America, sharing his “FORMULA” for success that will allow you to close LESS loans, Make More Money, and Have a Life REGARDLESS OF MARKET CONDITIONS.


BrokerBanker

Volume 125, 2009 | BrokerBanker

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Abundance Mentality and Ed Craine & Ivan Misner

Believe it or not, even in a downward market there truly is an unlimited supply of referrals. This may surprise you if you’re new to referral marketing or if you tend to think that economic conditions mean that there is a limited supply of referrals. This latter way of thinking is sometimes referred to as a “scarcity mentality.” Unfortunately, in the mortgage industry, having a scarcity mentality may cause you to appear desperate to obtain business, which is not the best light to show yourself in. Rest assured even in a booming market, desperation is never referable.

“Scarcity Mentality”

It’s true that there is a great deal of competition in the industry and likely even in a networking organization that you belong to. So even though you join the group on the presumption that fellow members will automatically refer all their business to you, that presumption is dangerous. You must understand that joining a referral-networking group won’t automatically earn you referrals; you have to work for them.

To begin, you’ll have to work to create brand new relationships. Your fellow members need to get to know you, understand your business, and most of all trust you. This is because they will be counting on you to provide exceptional service to those they refer your way. Keep in mind that they’ve already established relationships with anyone they may refer to you, and they certainly don’t want to risk that relationship by referring them to someone whom they’re not confident can live up to their expectations. There’s good news though. Having to compete with established relationships won’t necessarily cut you off from potential referrals. Consider that you’re the new broker in your group, and you want to get referrals from other members. You learn that one influential member has a decade long relationship with a broker who’s not in the group. Does this obligate them to stop doing business with their broker and start doing business with you? Of course not. Moreover, if you try to force this, you’ll learn quickly how detrimental such a tactic can be to your reputation. 11

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“Abundance Mentality”

If you maintain an “abundance mentality” instead of a scarcity mentality, you’ll realize there’s plenty of business out there for you and other brokers. In fact, there’s also a way you can compete and, at the same time, partner with the other broker. First, ask to be introduced to her broker. Find out what kinds of loans this broker specializes in. Jumbo? FHA? Then tell your competitor that you prefer to specialize in mixed used commercial or hard money loans, and offer to refer loans you don’t specialize in to them. Suggest that the two of you could refer non-specialty clients to one another. Clearly, you can be genuinely helpful to each other and still be competitors. Furthermore, you can help each other build a customized business with the kind of loans you prefer. Joining a networking group because you expect immediate referrals, without any effort on your part, is lazy networking. It produces few or no referrals and leads you to believe that the number of referrals available is limited--the scarcity mentality.

Predicting Your Referrals?

Surprisingly enough, when you begin to live by an abundance mentality, there’s also a way to make the flow of referrals predictable and adjustable. Yes indeed, you and a referral partner can set up a system in which your partner sends you referrals as you need them--regularly, predictably, on request, and on time. Creating such a structured system is like building a pipeline for referrals. Of course, you’ll want to reciprocate as well.

Imagine for a minute that you knew when your referral partners were going to refer you, whom they were going to refer you to, and how they were going to refer you? Can you even imagine knowing exactly what type of loan your new client is going to need? You’d be able to plan ahead. You’d be able to schedule your workflow to coincide with exactly when you’ll need the business and when you will have time to handle it. In essence, you could


Predicting Your Referrals predict your cash flow. But how do you build such a structured, predictable referral system? First, you have to establish a solid, mutually rewarding relationship with your referral partner. One way to do this is to start off with some relationship-building activities. These will help you get to know one another better based on your behavioral styles and other factors. Next, determine how many and what kind of referrals you’ll need each week to achieve your income goals. Then, spend time discussing the people in each of your databases and select those who fit as potential clients. Once this is finished, you can decide when, where, and under what circumstances you’d like to meet each potential client. If your partner agrees, put that contact into your pipeline. After you’ve contacted them, evaluate the results and share them with your referral partner. It’s about as detailed as you can get with a target market, and the timing couldn’t be more precise.

BrokerBanker

trustworthy and skilled networker who can be counted on to provide a steady stream of high-quality referrals.

Called “The Father of Modern Networking” by CNN, Ivan Misner, Ph.D., is a New York Times bestselling author. He is the Founder & Chairman of

BNI, the world’s largest business networking organization. His latest #1 best seller, The 29% Solution, can be viewed at:

www.29PercentSolution.com.

Dr. Misner is also the Senior Partner for the Referral Institute, an international referral training company. He can be reached at: misner@bni.com.

Ed Craine is publisher of Broker Banker Magazine.

The kind of proactive referral system is not intended for use with everyone you know. It’s designed for key relationships of trust in which you and your partner know each other well, along with the level of service each of you provides. The predictability comes from knowing that your partner is also a

Imagine for a minute that you knew when your referral partners were going to refer you, whom they were going to refer you to and how they were going to refer you… Volume 125, 2009 | BrokerBanker

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BrokerBanker

Commercial Loan Exchange

The lenders in our Commercial Loan Exchange are all active commercial lenders who are broker friendly. We encourage you to contact them for your commercial lending needs.

Lone Oak Fund

Stephan Kachani Type: Private Lender Email: Stephan@loneoakfund.com Min Loan: $250,000 Phone: 310-826-2888 x28 Max Loan: $10,000,000 Lone Oak Fund is a portfolio lender larger than many banks. Bridge loans from $250K to $10M on California property. Rates from 8.9%. No pre-payment penalties, appraisals, tax returns or junk fees. Minimal paperwork, creative structuring, fund in a week. Ask about special pricing arranged by Broker Banker Publisher Ed Craine.

Commercial Mortgage Corporation

Leo Gluck Email: leogluck@clickcmc.com Phone: 800-538-5626 x3

Type: Mortgage Bank Min Loan: $200,000 Max Loan: $3,000,000

“Helping mortgage brokers successfully fund small commercial loans since 1976. Stated income loans and other niche products available. Call Leo for marketing tips.� Beach Business Bank

Timothy Fisher Email: tfisher@beachbusinessbank.com Phone: 818-957-8110

Type: Bank Min Loan: Call Max Loan: Call

Blackburne & Brown Mortgage Company, Inc.

Michael Thurman Email: thurman@blackburne.com Phone: 916-338-3232 x310

Type: Private Money Min Loan: Call Max Loan: Call

Bridgelock Capital

Brent Houston Email: brent@bridgelockcapital.com Phone: 877-663-4268

Type: Private Money Min Loan: Call Max Loan: Call

Circle Bank

Mark Sklonick Email: mark@circlebloans.com Phone: 415-893-9321

Type: Private Money Min Loan: Call Max Loan: Call

First California Bank

Don Sonsma Email: DSonsma@FCBank.com Phone: 800-714-4106

Type: Bank Min Loan: Call Max Loan: Call

Luther Burbank Savings

Samuel Shummon Email: AShummon@lbsavings.com Phone: 415-257-3701

Type: Bank Min Loan: Call Max Loan: Call

Redwood Mortgage

Lori Randich Email: lori@redwoodmortgage.com Phone: 650-365-5341 x 218

Type: Private Money Min Loan: Call Max Loan: Call

Second Angel Bancorp

David Gruebele Email: dg@secondangel.net Phone: 916-863-7300

Type: Private Money Min Loan: Call Max Loan: Call

Sonoma Bank

Jim Barnett Email: jbarnett@snbank.com Phone: 925-946-4270

Type: Bank Min Loan: Call Max Loan: Call

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BrokerBanker | Volume 125, 2009


Residential Loan Exchange

BrokerBanker

The lenders in our Residential Loan Exchange are all active residential lenders who are broker friendly. We encourage you to contact them for your residential lending needs.

Lone Oak Fund

Area: California Stephan Kachani Type: Private Money Email: Stephan@loneoakfund.com Phone: 310-826-2888 x28 Lone Oak Fund is a portfolio lender larger than many banks. Bridge loans from $250K to $10M on California property. Rates from 8.9%. No pre-payment penalties, appraisals, tax returns or junk fees. Minimal paperwork, creative structuring, fund in a week. Ask about special pricing arranged by Broker Banker Publisher Ed Craine.

Bay Equity

John Curtin

Phone: 415-699-4063 Email: john@bayeq.com

Area: Type:

8 Western States Conforming

Colin Field

Phone: 949-202-5092 Email: cfield@bayeq.com Bay Equity is a Direct Lender in 8 Western States providing Mortgage Brokers a dependable funding solution in today’s turbulent mortgage environment. Our mission is to provide you with competitive pricing and unmatched customer service. Our experienced team is focused on what is important to you, which we believe, is PRICE & SERVICE! We have the ability to move quickly and give you answers in hours, rather than days. CMG Mortgage

JoAnn Anderson p: 925-200-7022 Email: janderson@cmgmortgage.com Dawn Buxton p: 602-388-7309 Email: dbuxton@cmgmortgage.com Brent Eckhardt p: 831-566-0022 Email: beckhardt@cmgmortgage.com Jim Tomczak p: 925-719-4108 Email: jtomczak@cmgmortgage.com Erin Toohey p: 760-612-9051 Email: etoohey@cmgmortgage.com

Area: Type: Area: Type: Area: Type: Area: Type: Area: Type:

No. California Conf., FHA, VA Arizona & Utah Conf., FHA, VA No. California Conf., FHA, VA Seattle & Portland Conf., FHA, VA No. California Conf., FHA, VA

Franklin American Mortgage Company

Raoul Badde Email: rbadde@your-ae.com Phone: 415-699-0980

Area: Type:

No. California Conf., FHA, VA

MetLife Home Loans

Darren Siegrist Email: dsiegrist@metlifehomeloans.com Phone: 818-575-2600

Area: Type:

No. California Conf., FHA, VA

Mountain West Financial

Jeanie Irvin Email: Jeaniei@mwfinc.com Phone: 510-612-0881

Area: Type:

No. California Conf., FHA, VA

Paramount Residential Mortgage Group, Inc.

To find your rep., go to our website Web: www.prmglending

Area: Type:

No. California Conf., FHA, VA

Reunion Mortgage

Amy Lee Email: alee@reunionmortgage.com Phone: 415-308-7812

Area: Type:

No. California Conf., FHA, VA

Titan Wholesale

Shawna Mott Email: smott@titan-wholesale.com Phone: 866-509-3419

Area: Type:

No. California Conf., FHA, VA

Volume 125, 2009 | BrokerBanker

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BrokerBanker

Earn New

without Spending a Dime! By Erica McClenny I can’t tell you how many times a mortgage broker or lender has called my office offering lunch or coffee to discuss business. My favorite tactic, that makes me laugh the hardest, is when I receive information and little “trinkets” like a plastic piggy bank in the mail. I understand that you’re trying to jumpstart a relationship, but I’m going to let you in on a little secret;

this doesn’t work, people!

I’ve been a REALTOR® for just shy of a decade, and I’ve sold hundreds of homes in my career. Unfortunately, I just don’t have time to sit down and have lunch with someone I don’t trust (namely because I don’t know them). I’m certainly not willing to hand over my book of business to a virtual stranger to benefit their bottom line. This is my honest viewpoint, and I apologize if it sounds harsh. But, the truth is, I have solid partnerships with only a few key people. All that aside though, a phone call like the following would definitely intrigue me

Now be prepared brokers, you may receive in response a question to your question similar to this: “Excuse me, what’s a blog?” Many REALTORS® aren’t super Internet savvy, nor do they waiver from the typical marketing tactics that they’ve been taught for years and years. That’s ok, most are seeing times changing everyday. If you can show them with a few basic steps, how to set up a free blog that you will assist them with, you may just get your foot in the door. You will also increase the value of your new partnership if you’re willing to contribute to their blog weekly. This is a very simple step that will only take you about five to ten minutes each week.

“Hello, this is Bob Broker from ABC Mortgage, and I just wanted to double check if you’ve thought about

as a way to generate business?”

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BrokerBanker | Volume 125, 2009


BrokerBanker

“Excuse me, what’s a

Keep in mind that many REALTORS®, new and seasoned, are intimidated by all the mortgage programs out there. Guidelines and qualification criteria are changing daily. We don’t have time to keep up with it all and still successfully sell homes. REALTORS® need you and your wealth of information. How often do you receive articles and information about the mortgage world? I personally receive several emails a day with information. Keep in mind; a blog article doesn’t always have to be original. You can reference the link or article and add your own twist about your local market. This is a win-win opportunity for you to look like a hero to your new partner while helping them increase their online presence. Plus, the more often your name hits a blog, webpage, or website, the better your chances are of capturing the attention of online homebuyers and local folks looking to refinance. It’s free advertising for both of you. The weekly update is also an under-the-radar excuse for you to continue contact with your new REALTOR® partner.

?”

I’m sure you’re asking yourself, “Where do I start, and what free resources are available out there?” You may also be thinking to yourself, “I need my own blog!” And of course, you should have your own blog before you pick up the phone and offer something you’re not doing yourself. You’ll be able to offer cross promotion to your entire REALTOR® partners on your own blog. The more exposure, the more business it will generate. I’d suggest offering this to multiple agents in your area, because not everyone will follow up and continue to blog. I’ve tracked that my real estate blog www.ericamcclenny.com is most effective if I’m blending local events, hot spots, restaurant reviews, market trends (national and local) along with education about real estate. Keep it interesting, light, and helpful, and keep it consistent. Content is key! Give it time; business will come and the referrals will roll in. FREE BLOG SOURCES: www.wordpress.com www.blogger.com

PAY SITE with SEO JUICE FOR REAL ESTATE: www.activerain.com

Erica McClenny is an active Realtor/Broker with eRealty based in

Raleigh, NC. She’s generated over $45 million in sales volume to date.

She prides her self on educating her homebuyers and sellers versus selling homes. Homes sell themselves; customer service is the memory and key to referrals. Erica also travels to teach “Social Skills: Media Conversation

Training” to show other professionals on how to grow business via today’s virtual networking.

Erica may be reached by email at Erica@triangleliving.com or follow her on Twitter @ericamcclenny

Erica McClenny

or Facebook www.facebook.com/raleighhomesforsale Volume 125, 2009 | BrokerBanker

16


BrokerBanker

Industry Service Providers

The businesses represented in this Industry Service Providers page are all broker friendly. We encourage you to contact them for your particular needs.

Accounting Services

Don’t see your Industry below? Call us at 415-406-2330 to add your Service to our growing list.

Appraisal Services

Other services that can be advertised in the “Industry Services Providers include: • Coaching • Efficiency Services • Insurance Services • Legal Services • Licensing Services • Processing Companies • SBA Loan Exchange • and more. Call 415-406-1210 to add your service to the list.

Landmark Appraisals

Stephen McClanskey Email: LMappraisals@aol.com Phone: 949-981-0456

Need an Appraisal Report? If so, we can help. We cover most of Southern California.

Value Express

David Naciri Email: david@nexusappraisals.net Phone: 888-835-3741

Value Express, the easiest and quickest way to the value of any property.

Marie Currie Email: marie@hightechlending.com Phone: 866-714-2040 x 2626

Need FHA? Want to lend in multiple states? We’re focused on your success.

In Touch

Nickolas C. Jones Email: NJones@In-TouchCorp.com Phone: 408-458-4300 x 318

InTouch keeps you in touch with your clients. Ask about our Broker Banker special.

MyRateTrack.com

Jeffrey Pinkerton Email: jeffrey @myratetrack.com Phone: 678-488-5159

Is your business refi-ready? Get ready with myRateTrack.com Ready. Set. Refi.

Edward Jamison, Esq. Web: www.creditcrm.com Phone: 877-256-8162

Start your own credit repair business and make $10k a month easy. Call to get your free brochure.

Cal Coast Credit Reports

Gordon G. Chin Email: gordon@calcoastcredit.com Phone: 415-252-2888

Achieve higher FICO scores with our Credit Scoring Tools. We are here 24 hours a day to serve you.

ENTITLE DIRECT

Buy Title Insurance Direct and Save Claire Fennessey Email: Claire.Fennessey@EntitleDirect.com Your Borrowers Thousands in Closing Costs! Now in 32 states and Growing. Phone: 203-724-1140

Mortgage Modification Center

Cameron Pannabecker Email: cameron@themmcenter.com Phone: 209-478-3200

Let Our 30 Years of Experience Provide Light to the End of Your Home Loan Tunnel.

Richman & Associates

Jim Richman Email: jimlrichman@msn.com Phone: 877-502-7283

Serving the clients of mortgage brokers and attorneys across the nation for over 9 1/2 years.

Jon Kaya Email: jon@KayaDesign.com Phone: 805-495-8215

We specialize in corporate identity branding including logos, ads, print colaterial, e-zines, and more.

Branch Opportunities

HighTechLending Inc. Client Retention

Credit Repair Services

Credit CRM Credit Reporting Services

Insurance

Loan Modifications

Marketing & Advertising

Kaya Design Notary Services

Henry Davidson - Director Email: henryd@expnotary.com Phone: 888.282.9747

Express Notary Service Inc. EsignNotaries.com Website Services

Thinking2 17

BrokerBanker | Volume 125, 2009

Jon Kaya Email: Jon@Thinking2.com Phone: 805-495-8215

We design custom SEO compatible websites that help you stand out from the competition.


Prospector Communications LET PROSPECTOR DO THE LEAD MINING

Need to Reach Brokers and Originators? If your goal is to expand your network by reaching the Mortgage and Real Estate industries at large, Prospector can get you there. Specializing in Finance and Real Estate since 2001, Prospector can help your company reach its sales and origination goals by delivering turnkey, customized B2B email campaigns that equal RESULTS. We specialize in delivering results for bankers, brokers and lenders as well as mortgage product and services companies nationwide. If you need to jump-start your company’s sales or originations, contact us for a free consultation. Prospector understands the industry from the inside out and are the ONLY B2B marketer that can GUARANTEE results with every campaign. An industry leader for almost a decade, Prospector has the largest active network of loan producers in the nation who are currently seeking help with their businesses or are in need of loan conduits.

We specialize in the following areas; * * * * * * * * * *

FHA, Commercial, Hard Money, Reverse, Conventional Programs Loan Modification Networks and Affiliates MTG Training and Education Lead Generators Loan Processing and Compliance Industry Alerts and Updates for Regulatory Bodies Recruiting; Let us find quality LO’s and AE’s for you in any state Net/Virtual Branch Specialists Industry Marketing and Support Backline Services, Software, Compliance and more

Prospector offers Turnkey Solutions to brand your company in the Mortgage Marketplace. Prospector wants your Mortgage or Real Estate B2B campaign to be a success. “The internet is irreplaceable for the future of cost effective marketing for all business marketing.” Forbes

Prospector Communications 21321 Oakwood Lane, Foresthill, CA 95631 866-759-5799 prspct1@prospectorcommunications.com www.prospectorcommunications.com


By Byron G. Torres

Most people, when given the option of reading a story or viewing a video, will watch the video. Videos tell a story with images, movement, and sound. Video is exciting, and video is good. Before high speed internet hit the market, the idea of a video playing on a website was not something anyone of us wanted to deal with (especially with slow dial up connections). Today, fast internet speeds and websites like YouTube have made video the norm and not the exception. Web videos are effective marketing tools. Using video to promote yourself is simply smart marketing. Video can be a great way for you to increase your brand awareness and expose yourself to users who may have otherwise not been familiar with your services.

Market Yourself as the Expert in Your Field

Create educational videos that explain and simplify the loan process. You have to remember that you sell mortgages for a living, and often times the process can still be confusing to you. Imagine how the borrowers must feel. Explain the process in a simplified manner, and make yourself available via online video 24/7. By presenting yourself as an expert in your field you are: • Helping Your Customers Understand a Confusing Process • Answering Questions Your Customers May Be Afraid To Ask • Creating Credibility • Multiplying Yourself • Making Yourself Available Online 24/7 • Creating a Following That Will Lead to More Referrals and Ultimately More Sales

Making the video

There are a few options you have when it comes to creating your content.

19

BrokerBanker | Volume 125, 2009

1. Create the video yourself. This is the most affordable way to go. All you need is a video camera or a web cam and editing software (PCs and MACs both come with free editing software). It is best to edit your video to cut sections that may not be relevant to your topic. Keep your video under 2 minutes and get to the point to keep viewers engaged. It is important to note that if your video looks amateur, you may be presenting yourself in an unfavorable image. Saving money should not take precedence over your public image; be careful. 2. Hire a production company. If your budget allows you to hire a production company, do it. Many production companies will assist with writing and editing the script. A reputable production company will always also come up with the best options to maximize your budget and make sure your video will be a true representation of who you are. A production company is a great addition to your marketing team and may be more cost effective than you think. But how do you choose a production company? Here is a short list of things to consider when hiring a production company. The answers to these questions will determine the price of your project. • Will I appear in the video? • Will we be using an actor(s) in my video? • Where will we be shooting the video? • Is this a graphics with music video? • Should we create a video with graphics, stock footage, and a voice-over? 3. Use pre-edited semi-customized videos. The demand for videos for the web by individuals and small business has grown tremendously, due to the fact that often times small business owners did not have the budget for a full production. But, there still options. Consider a pre-edited, semi-customized video, such as a Vertical Market Sales Video (VMSV).


BrokerBanker

These are videos that are pre-edited with specific messages, which can then be customized specifically for you. Your logo, phone number, website address, watermarks, and even a personalized voice-over can be added. Because the videos are already recorded and edited, you get a professional production with your branding for a fraction of the cost of a full production.

Posting Your Videos on Your Website

Once you have your video recorded and edited, the next step is to get your video online. Today you have a lot of options available with the biggest and most popular being YouTube. YouTube will allow you to create your own channel, so you can use videos to promote yourself even if you do not have a website. Once you have signed up for your YouTube account, you simply upload your video, name it, and tag it. Your video will now appear on your YouTube channel. You will have the option to embed YouTube’s code into your website by simply copying and pasting it. There are many other video websites where you can post your videos. Some of these include Vimeo.com, DailyMotion.com, MetaCafe.com, Revver.com and the list goes on and on.

Other Reasons To Use Videos

You can now expect to see more and more video results occupying the search engine results. This is important to you, because if you are an originator wanting to brand yourself in your community, Video-SEO (Search Engine Optimization) is extremely effective and much more affordable than traditional SEO. We have clients that are now being found on the first page of Google results because of video and Video-SEO. On a local level, Video-SEO will allow you to brand yourself as the “Mortgage Guy or Gal” in your community using video as your marketing tool. Utilizing videos for the web creates credibility, and it humanizes your business and what it is that you do. Don’t be intimidated by video; embrace it, and make video for the web your digital promotional vehicle. Byron G. Torres is the founder and creative director of Pritzer Media

(www.pritzer.com). As a former originator, Byron understands the needs

of mortgage professionals. Pritzer’s services include: website design, mobile

marketing, videos for the web and video-SEO. Byron G. Torres can be reached at 888.214.7041 Ext 101 or by email at byron@pritzer.com

BROKERBANKER MAGAZINE PUBLISHER’S PICK

THE

VIDEO E-MAIL

REVOLUTION HAS BEGUN

Sign up today and receive a 30 day free test drive. To learn more, go to www.brokerbanker.com/videomail. Volume 125, 2009 | BrokerBanker

20


BrokerBanker

Private Money Loan Exchange

The lenders in our Private Money Loan Exchange are all active private money lenders who are broker friendly. We encourage you to contact them for your private money lending needs.

Lone Oak Fund

Type: Private Lender Stephan Kachani Min Loan: $250,000 Email: Stephan@loneoakfund.com Max Loan: $10,000,000 Phone: 310-826-2888 x28 Lone Oak Fund is a portfolio lender larger than many banks. Bridge loans from $250K to $10M on California property. Rates from 8.9%. No pre-payment penalties, appraisals, tax returns or junk fees. Minimal paperwork, creative structuring, fund in a week. Ask about special pricing arranged by Broker Banker Publisher Ed Craine.

Agricap

Web: www.agricap.com Email: RealEstate@agricap.com Phone: 213-542-5232

Area: Type: Amount:

California SFR & Commercial $500k to $5MM

Blackburne & Brown Mortgage Company, Inc.

Michael Thurman Email: thurman@blackburne.com Phone: 916-338-3232 x310

Area: Type: Amount:

California SFR & Commercial $500k to $5MM

Bridgelock Capital

Brent Houston Email: brent@bridgelockcapital.com Phone: 877-663-4268

Area: Type: Amount:

California SFR & Commercial $500k to $5MM

Brownstone Mortgage Capital Corporation

Alex Nackoul Web: www.brownstoneloans.com Phone: 1-800-547-1285

Area: Type: Amount:

California SFR & Commercial $500k to $5MM

California Equity Lenders Inc.

Mike Christl Email: mike@calequitylenders.com Phone: 818-807-3866

Area: Type: Amount:

California SFR & Commercial $500k to $5MM

Redwood Mortgage

Lori Randich Email: lori@redwoodmortgage.com Phone: 650-365-5341 x218

Area: Type: Amount:

California SFR & Commercial $500k to $5MM

Roza Real Estate Loans

Eva Roza Email: eva@roza.com Phone: 415-584-3000

Area: Type: Amount:

Northern California 1-4 NOO & Comm. $200k to $1.5MM

Second Angel Bancorp

David Gruebele Email: dg@secondangel.net Phone: 916-863-7300

Area: Type: Amount:

California SFR & Commercial $200k to $5MM

Your Listing Here Your Listing Here Your Listing Here Your Listing Here 21

BrokerBanker | Volume 125, 2009


BROKERBANKER MAGAZINE PUBLISHER’S PICK

THE

VIDEO E-MAIL

REVOLUTION HAS BEGUN

R U Ready? Video Email:

The company I have discovered is niche based more than anything, and hinged on ease of use. They have such a clear vision of what small businesses want in the way of By: Ed Crane, Publisher audiovisual communication that they could easily be credBrokerBanker.com En Vogue and a Value Added Service ited with starting the video email communication revoluEd Craine tion. They have put together a skilled team of specialists will try to expand your understanding a little more, to put the whole project at a significant advantage to the as I have lot of time watch researching videoofemail simpler, while One delivering personal, powerful Studies showspent that aAmericans millions competition. part ofmore their team is writing innovaovereach the last years. Although I have Amerilittle idea messages. That’s why I use video email. videos day.three From YouTube to Yahoo, tive software whilst other parts are building a base of users of mechanics of computers, I have become quite cathe loves video clips. who pay a monthly fee to use the system. Other parts knowledgeable about the practical uses of software. Ifare you’d likeand a super easy way to get started, check writing producing state-of-the art videos to use out incredibly easyhow to use, andthe very So why aren’t you using video email yet? Video as jiveEmail. video emailsIt’s to teach new users to use system In the early fiction one ofreally the much anticieffective. And they have customer service. email is anscience amazing wayfilms, to speak, speak to to communicate sales andfantastic marketing pitches in their own pated was that we would to seeexplain each your advances clients. Imagine being ablebetoable clearly business areas. other when talking onyou the telephone. In fact that techBut don’t just take it from me. Check it out for to your clients why need specific docs, withnology been affordableinadvertently and available for at least the yourself with the a free 30 dayI test to Broker out thehas risk of sounding patronizing In summary, company havedrive discovered has conceived last years. email. Americans seem the to have talent for finding Banker readers. Simply log onto www.BrokerBankin aten written Imagine timea recording a a convincing business model for sustainable growth of business uses email for newcould technologies anyone else. er.com/videoemail click on the link jiveEshort video save youbefore in lieu of typing a demand, yet to beand generally accepted as atomust part of mail on our home page. Then try it for a month. For each update to REALTORS®. Imagine notifying business life, for visual and audio communication to take One notable exceptionof toimportant this was mobile phones, everyone inrecent your database changes to free! place quickly, easily, inexpensively and conveniently. It where Europe unusually lead the way. However, as usual, the industry, instantly (without poring over each is like the arrival of mobile phones 15 years ago. The revoAmericans developing audiovisualImagine technology more and everyare word you’ve written). the look You’ll using email innovators immediately lutionsee willthat come, andvideo the original willcrebe at a rapidly than anyone else. I just found a company ates added valueto forthe your as competitive you on your client’s face when herecently or she gets a Happy huge advantage restbusiness. if they canAnd remain that has created niche within the (maybe video email industry well know; that’s always en vogue. Birthday videoaemail from you you’re when the potential becomes fully recognized world-wide. which could easily turn into a real winner. Competition even singing to them!). already exists, with some companies already developing FREE 30 DAY They also offer TRIAL a 30 Dayat: Free Test-Drive on their web site. businesses in email, this ‘video arena for lastmuch 6 years. With video youremail’ life could be the made www.BrokerBanker.com/videoemail To learn more, visit www.BrokerBanker.com/videoemail.

I

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