NAMBCentral March 2024

March 2024

Meet the NAMB Board 4

CATHY LEE, hawaii

Get It Right When It Really Counts

6

by CHRISTINE BECKWITH

Are You Consuming Instead of Connecting? 8

by MICHELLE BERMAN

Content Strategy: Have One! 10

by CHELSEA GARDNER

Positive Self-Talk From an Expert 12

President’s Letter

BY VALERIE SAUNDERS

by IRENE DUFORD

The National Association of Mortgage Brokers is the voice of the mortgage industry, representing the interests of mortgage professionals and homebuyers since 1973.

March is Women’s History Month and I am proud to be one of five women who have led NAMB as President. When women are empowered to lead, everyone benefits. Decades of studies show women leaders increase productivity, enhance collaboration, inspire organizational dedication & improve fairness.

Looking ahead, we at NAMB are gearing up for the Legislative & Regulatory Conference in Washington, DC, from April 15-17, 2024. In the words of Maya Angelou, “I learned a long time ago the wisest thing I can do is be on my own side, be an advocate for myself & others like me.” I am encouraging everyone to attend this year’s event.

On April 15, our DEI Day – led by our DEI Chair Nora Guerra, Sr. A ordable Lending Manager, Freddie Mac – is where we take a deep dive into the issues around diversity, equity & inclusion and discuss potential solutions. Those in attendance will gain insight into how industry experts are addressing these challenges.

April 16 features our Legislative Day filled with high-level government speakers including another round of Q&A with FHFA Director Sandra Thompson, Rep. Warren Davidson, Rep. Emmanuel Cleaver II, Deputy Secretary of HUD Adrianne Todman, and more to come!

The event wraps up on April 17 when it’s time for Lobby Day on Capitol Hill with your fellow mortgage professionals. Visit with your representatives & senators and discuss the issues that are important to you.

Please join us for #NAMBLRC2024 in DC and let your voice be heard! NC

TALKING WITH HUD’S JULIA GORDON AT LAST YEAR’S LRC.

Meet the NAMB Board

CATHY LEE, VOLUNTEER DIRECTOR

Loan O cer, HHOC Mortgage cathy.lee@namb.org

Licensed in 2002 Honolulu, Hawaii

What’s your educational background? I graduated from high school & went straight to work at an S&L that provided free ABA classes to their employees. I took whatever they o ered! My mortgage education has been from NAMB & the CE classes that NAMB provides. I highly recommend all LOs & MLOC take the classes! You will be glad you did.

Why did you choose mortgage? I had the worst experience with home buying. My husband & I saw her twice – at application & signing. We never, ever had any conversations during the loan process. Being young & uneducated on the home-buying process made it di cult & expensive for us. To be honest, we weren’t mortgage ready.

“I never want to go through that painful process again,” I said to my husband after the loan closed. “We are staying in this house until we die.” I kept thinking, this must happen to a lot of first-time homebuyers. I didn't want anyone else to go through "hell & back" for a mortgage & I didnt want them to NOT have a friend to guide them. So when a friend contacted me looking for a loan processor, I jumped at the opportunity!

Today, as a loan o cer, I’m lucky to have great people helping me – the sta in my o ce, my processor, our partners (escrow & lenders). I always tell my clients, “I am your advocate & my job is to help you achieve your homeownership dreams.”

Career highlight? I work for HHOC Mortgage, a non-profit organization. Our mission is to help clients whose AMI (area median income) is 120% or below. This means that my clients are low to moderate income earners.

Since working with HHOC, I’ve been able to help my clients achieve the dream of homeownership by providing them with credit counseling & first-time homebuyer education to get them “Mortgage Ready.”

I have come to believe that everyone needs to have a safe place to lay their heads down; to be able to rest, and have a good warm meal & clean water to drink. People fall on hard times - it can happen to anyone. My mission is to continue to help were I can within my community. NC

Getting It Right When the Stakes Are High

BY CHRISTINE BECKWITH

The industry is poised & ready for a rebound, but will that happen this year? That is the million-dollar question.

As I sit on top of the mortgage mountain with a vast view of all channels & levels of business, I can tell that the long, drawn-out drought of inventory & higher rate atmosphere has cost our industry plenty (not discounting the impact on all of us personally at every level). So, the stakes could not be higher. Every month that has passed has poured on the pressure for a return to a better flow

The good news is that many are getting it right. I see companies like my own teaching vital sales tactics at a time when it could not count more, tactics that are evading whole organizations, tactics that I will share a peek at here in this short article, such as:

Heavy Cash Out Marketing that o ers:

• Cash in hand to restore depleted liquid positions,

• Cash out for higher interest rate revolving & recurring debt,

• Overall monthly total debt savings.

Here are the consumer barriers we’ve seen which are now fading:

• They do not want to raise their low mortgage interest rate, holding on to it for dear life despite it now hurting their cash position or ability to cure debt.

• They do not want to sell now because they would have to “buy high” & assume value may be lost since we are in a housing bubble, value-wise, when in fact homes have ascended in value for 3 years straight. The “bubble” overpaying objection has a ected less than 15% of homes & has had isolated e ects on specific homes over pricing, not whole markets.

The reason these objections are fading:

• For three years the news has reported “housing issues” & “bad market” conditions, which has proven to be poor advice for American homeowners. Sure, hanging on to a low rate is great for a period but, statistically for the past 40 years, 80% of Americans have home loans for 32-36 months & then either refinance or buy/sell. That means during that time they are accumulating debt & dwindling cash position.

• Refinancing or selling your home is the #1 cash infusing transaction/event in every American household.

• Holding onto low rates & not doing traditional cash-out now that homeowners are currently in range threshold is hurting

them. They’re compounding debt. They’re making strained financial decisions like using credit cards to buy & accumulate debt, and spending vital cash due to credit limits.

So, we’re at a point where the consumer palate, brought on by financial pressures, is giving way to homeowners being more receptive to mortgage experts.

Now an LO can open discussion points about these objections. That consumer can receive & take action on a better mortgage that helps them cure their financial woes.

We here at 2020 Vision knew this three years ago. Economically experienced & wise, we were sharing the likeliness of a sustained rate market since November 2021 when rates first rose. Our LOs have benefited from this advice, acting immediately & pivoting far sooner than their counterparts.

Today we see companies & people stuck, like deer in headlights, heading for a total crash due to inaction. We are screaming from the proverbial mountaintops right now! We’ll continue to teach the vital marketing tactics to connect these dots & we’ll be there to help them take those first wobbly steps. Our virtual classrooms are filled with known, experienced LOs & companies who are rocking already with more traction into the future.

The final word: LOs who service clients in this way, during the hard times, will stand to do more in the future because they earn trust & warmth by seeking out potential financial benefits. When the rates do drop, those clients will return to the LOs who took action.

Who will lose? The LOs & companies saying, “Hang on! Don’t do anything! It’s not smart to refinance right now. I will call you when rates come down.”

One more last word: Sit at tables where truthful, helpful & real solutions exist. THAT is where the business will be won. NC

Christine Beckwith is a 35-plus year veteran of the mortgage industry, with positions from originations to Senior VP of sales. In 2018, she made the move to serving mortgage professionals in her “legacy years” by founding 20/20 Vision for Success Coaching, now the largest consulting firm in the American banking & brokering industry. The award-winning, 5-time best-selling author will release tactical expert sales book “High!” in November 2024.

Like, Follow & Engage With the 45/20 Rule

BY MICHELLE BERMANMIKEL

Do you see yourself in one of these scenarios: 1, it's been so long since you last checked your own Instagram because you've handed over control to someone else, or 2, you often catch yourself mindlessly scrolling, interacting with the same circle repeatedly?

The Instagram platform has gradually transformed into a space where many LOs & mortgage professionals upload content to tick o an item on their to-do list, prioritizing the act of posting over the impact it may have on their brand. They find comfort in the idea of having a presence rather than focusing on whether that presence benefits their image & moves their business forward.

By treating Instagram as a checklist item rather than a strategic tool for outbound prospecting & engagement, they risk damage to their brand's reputation, and lose on opportunities to connect with & expand their audience. Most importantly, they miss the point of the platform: to create content that allows them to forge connections.

4) User Experience: Instagram users are drawn to visually appealing content. Boilerplate content can be generic or bland.

Are you creating a platform that allows the consumer to get to know you, trust you, and then choose you as the vehicle that gets them to the end goal of homeownership?

By focusing on creating content that resonates with your audience, you open the door to deeper connections & trust.

So why do many mortgage pros use boilerplate content? (This refers to generic or standardized content.) Because it checks the “I posted, and something is better than nothing!” box? The down side to using boilerplate far outweighs having nothing. Here’s why:

1) Audience Engagement: Instagram users appreciate unique, genuine content. Boilerplate content tends to be repetitive & fails to capture the audience's attention or spark engagement.

2) Algorithmic Impact: Instagram's algorithm prioritizes content that receives high engagement. If your content doesn't resonate with your audience & doesn't generate likes, comments or shares, it may not be shown to a wider audience.

3) Brand Di erentiation: Boilerplate content doesn't help in establishing a distinctive brand identity. Successful Instagram accounts often stand out by showcasing their unique personality, style & perspective.

The goal of an outbound prospecting strategy is not just to gain followers but to convert them into clients. Low-quality content may attract initial interest through outbound e orts, but converting interest into action (like hiring you or making an appointment with you) usually requires compelling, high-quality content that has built credibility & fostered the connection being established in your messages.

So, what does your outbound prospecting need to look like?

In a world where “six degrees of separation” reminds us that we're just a few handshakes away from anyone, Instagram prospecting emerges as a digital bridge that connects us all, turning every follower into a gateway to countless new opportunities.

Starting from this foundation, let's delve into the 45/20 rule and explore the Beyond the MethodTM engagement tracker.

The essence of outbound prospecting lies in its power to help you create new connections while nurturing those you already have. How many of the people in your CRM are you connected to on Instagram? What about your LinkedIn connections?

When building your tracker, the critical question to begin with is: What's your goal? Are you aiming to recruit, forge relationships with Realtors, connect with upstream vendor partners such as financial planners, CPAs, attorneys, etc., or are you looking to reach consumers directly? Grasping this aspect is crucial for properly setting up the tracker & ensuring its e cient execution.

CONTINUED ON PAGE 14

What’s Your Content Strategy?

BY CHELSEA GARDNER

In today’s social media space, the importance of a solid content strategy cannot be overstated. As businesses & professionals strive to establish their presence online, the need to stand out in a crowded social media has become paramount.

A well-crafted content strategy is not just a plan for creating & sharing content; it's truly a roadmap that guides your communication with your audience. It ensures that every post, video or blog article aligns with your overall business goals. It speaks directly to the needs & interests of your ideal target audience.

The foundation of any e ective content strategy lies in a deep understanding of your audience. Knowing who you’re speaking to, what challenges they face & what solutions they seek is key to your online success, allowing you to create content that resonates, engages & ultimately converts your audience.

Without this understanding, your content risks falling on deaf ears, no matter how well-crafted it may be. People want to be spoken to, not at

Begin with clear goals & objectives. Are you looking to increase

brand awareness, generate leads or establish yourself as a thought leader within your industry? Your goals will dictate the type of content you produce & the platforms you choose to share it on, along with the metrics you use to measure success.

Content themes & topics give your strategy direction & focus. By establishing a set of core themes related to your niche in the industry, you can ensure that your content remains relevant to your audience. This approach not only helps in maintaining consistency across your content but also aids in building your brand's identity & authority in your field.

Don't think that by directing your content to what you are known for, love doing, or are good at will hinder your business. Quite the opposite!

We know there are several content types and formats, from blog posts and carousels to videos and podcasts. A good content strategy leverages this to keep the audience engaged and cater to di erent preferences and consumption habits. Mixing up your content formats can also help you reach a wider audience and boost your content's shareability and visibility.

Your content is a reflection of your brand; as such, it should be consistent in tone, style & quality. This consistency helps in building trust with your audience & reinforcing your brand identity. It can be as simple as wearing a ribbon in your hair all the time, or recording a lot of video content with a cow picture in the background! YOU are your brand! What makes you, YOU?

CONTINUED ON PAGE 14

YOUR LOGO

HERE

THIS IS AN AD!

Ad content includes your logo & website, plus 75 words of your choosing (this is the size of the text) –a short bio; a special offer to NC readers; your latest product, service or announcement; or a bulleted list of services!

You’re reading NAMBCentral’s 25th consecutive issue. Over these 2-plus years, the magazine’s pages have seen many companies come & go, merge & rebrand, start-up & regroup.

NCMarketplace is meant to introduce or reintroduce up & coming businesses to NC’s readership of 300k.

NC Marketplace debuts in the April 2024 LRC edition. The total for 3 ads is $995.

Showcase your business to the mortgage industry in the firstever NC Marketplace! Our members are hungry for access to mortgage industry businesses & associated companies!

NC Marketplace will be highlighted across NAMB’s social media & in our weekly newsletters.

Email magazine@namb.org to reserve!

your website your website

Learn more about NAMBCentral digital magazine’s readership & publication schedule at namb.org/magazine.

NC Marketplace is open to companies not currently under agreement with NAMB.

Positive Self-Talk From an Expert

BY IRENE DUFORD

In the fast-paced world of mortgage brokerage, success hinges not just on market knowledge or customer service skills, but also significantly on the mindset of the loan originator. The profound impact of self-talk on our professional achievements & personal life is often underestimated.

A recent interview I had with Dr. Shad Helmstetter, the author of the highly rated “What to Say When You Talk to Yourself,” sheds light on the transformative power of positive self-talk. The doctor’s insights come from a place of deep understanding, research & a lifetime of experience.

I delved into this thought leader’s mind on my podcast, Loan Officer Team Training, exploring self-communication & its impact on success. Dr. Helmstetter emphasized a startling statistic: More than 75% of our internal programming may be negative or counterproductive. There is a critical need for a shift in how we talk to ourselves, especially in an industry as challenging as mortgage!

What we whisper to ourselves can build us up or tear us down, influencing every decision we make & every customer interaction we have.

The lessons I gleaned from Dr. Helmstetter are not just theoretical. They are borne of personal experience & the positive influence of my father, who instilled in me the belief that I could achieve great things. My dad was always big on cheering me on. He'd tell me how I could do anything I set my mind to. That stuck with me & laid the foundation for a resilient mindset – though, I catch myself being my own worst critic at times, just like everyone else.

The potential for growth & success in the mortgage business is limitless. Create a shift in how you approach your mortgage business & enhance the quality of your life by starting with the smallest of steps: changing how we talk to ourselves.

Dr. Helmstetter's expertise & my own experiences a rm the power of positive self-talk. It's a tool that every mortgage professional should wield with conviction. Let this podcast be the first step toward a revolution in your professional journey. Let the power of positive self-talk open doors you never thought possible. NC

Loan O cer Success Coach, Speaker, Trainer & Team Consultant Irene Duford is the Founder & Owner of loanteamtraining.com, which trains your team so you can focus on increasing production.

Thank You, NAMB Strategic Sponsors

20/20 Vision for Success | Berman Media PD | Broker CMO

The CE Shop | Chelsea Gardner Marketing | CIC Credit Fincen Report | Loan Team Training | MoveTube

Mutual of Omaha Mortgage | National Notary Association

Strategic Compliance Partners | Vonk Digital

Thank You, NAMB Benefit Providers

Broker Plus by PreApp 1003 | CardTapp | EC Purchasing | Inman

Lanis Tier One | LiveSwitch | MBS Highway | My Home IQ

OnCourse Learning | Scotsman Guide

45/20 RULE, CONTINUED FROM PAGE 8

To execute the 45/20 rule, you will do 45 comments & 20 story replies per day, 5 days a week. These story replies will end up in your DMs which will allow you to have one-to-one conversations, while the 45 comments a ord you brand visibility.

Every day of the week is dedicated to a distinct target, enabling you to delve deeply into your existing data (such as your CRM & LinkedIn connections) while simultaneously focusing on forging new relationships.

So what is your immediate action step? To make a significant & immediate impact, you must first identify who you aim to connect with on Instagram. This will encompass a mix of acquaintances with whom you wish to deepen relationships alongside new connections you're eager to discover.

Get

The next step involves crafting the perfect message to foster a solid opportunity for connection & ultimately conversion. This approach sets the foundation for a successful engagement strategy on Instagram, marking the beginning of a fruitful journey. NC Michelle Berman-Mikel is a nationally sought-after Instagram Content Development coach, Speaker & Owner of Berman Media PD. She is also the creator of the Beyond the Method™ Program, an online course that teaches Realtors & Loan O cers how to leverage the power of Instagram to not only scale their relationships nationally, but also build credibility in their local markets. Michelle is also the host of The Co ee & Questions Podcast with guests such as Daniel Harkavy, Phil Treadwell, Amy Chorew & more.

CONTENT STRATEGY, CONTINUED FROM PAGE 10

Finally, a good content strategy is incomplete without a plan for measurement & analytics. Tracking the performance of your content helps you understand what works & what doesn't, allowing you to refine your strategy over time.

Key metrics such as engagement rates, conversion rates & website tra c provide valuable insights into your content's e ectiveness & your audience's preferences. Then, you build upon what your audience wants based on your metrics!

By knowing your audience, setting clear objectives, diversifying your content & measuring your success, you can create a content strategy that not only reaches but resonates with your target audience, setting the stage for lasting engagement & growth. NC

Join Chelsea’s FREE webinar “Crafting the Perfect Content Strategy” on Wed, March 13. Even if you can't join live, be sure to register to get the replay & access to the FREE content strategy workbook!

Register here: calendly.com/mrschelseagardner/contentstrategy

NAMB members receive $50 o CGM’s monthly membershipwhich includes live Q+A calls & weekly training videos. Regularly $97/month; NAMB members pay $47/month. Here's where to join: chelseagardner.ck.page/products/simplify-your-social?promo=NAMB

DAY 1 (APRIL 15)

DEI Day

We take a deep dive into the issues facing diversity, equity & inclusion professionals today and discuss potential solutions.

DAY 2 (APRIL 16)

Speakers Day

A day-long slate of high-level legislative & regulatory speakers including FHFA Director Sandra Thompson & Rep. Warren Davidson.

DAY 3 (APRIL 17)

Lobby Day

This is your time to visit Capitol Hill with your mortgage colleagues. Talk face to face with representatives & senators about the issues that are important to you.

#NAMBLRC2024 is only $50 per person & includes all three days! Be a voice for your industry & register now!

APRIL 15-17, 2024 • HYATT REGENCY

REGISTER NOW: