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Sales Stories & News for Mortgage Loan Originators


Customers for Life
Originators who help save prior customers from foreclosure will make customers for life. Not only will they return someday when they qualify for new financing -- but they'll tell their friends and relatives about the originator who helped save their home. Nearly 100 foreclosure prevention resources, including some state-specific, at:
www.MortgageDaily.com/ForeclosureResources.asp (subscribers only)

Current Sales News and Stories
Last Updated Friday, May 02, 2008 10:25 AM Texas Time

Loan Prospecting Saves Life
Persistent phone prospecting for reverse mortgages by a Michigan originator paid off in a big way for an elderly Texas woman. While he didn't make a sale -- he did help save her life.

Matt Pitters, who works as a reverse mortgage loan officer in the Michigan call center for World Alliance Financial Corp., had already made some 30 calls that morning to people who had requested and received the company's free DVD on home equity conversion mortgages.

The DVD is promoted in a television commercial for Melville, N.Y.-based World Alliance, which says it is the nation's third largest reverse mortgage lender.
read full story

Reverse originator calls for emergency help for Texas senior


www.originationpro.com

Top Chase Producer
The top originator at JPMorgan Chase & Co.'s mortgage unit generated nearly $200 million in loans last year.

Foreclosure Tours Generate Loan Prospects
Mortgage lenders with growing backlogs of foreclosed properties are teaming up with real estate brokers to unload those properties and generate loan prospects by hosting foreclosure tours.

Sales Steps
A successful salesperson starts with a vision then creates a blueprint, according to the latest sales book reviewed by MortgageDaily.com. A focused execution completes the sales process.

Enhancements to LOS, CRM, AU & Other Tech
An updated loan origination system enables mortgage bankers to service loans pending sale on the secondary market. Meanwhile, a new customer relationship management system is expected to increase revenue at one loan shop by as much as 30 percent.

Wachovia Lays Off But Boosts Salesforce
The Golden State saw dozens of mortgage call center job cuts by Wachovia Corp., though almost half turned into sales jobs.

Expanding Loan Prospects
Loan originators, faced with fewer and tighter mortgage programs, need to reach a much bigger share of the general population. This involves taking a long-term approach that helps prospective borrowers improve their finances and, in the process, better qualify for a mortgage.

Uncovering Prospective Customers
A good marketing plan includes identifying sales prospects. Among prospects are people within a salesperson's sphere, and this may go way beyond what he or she realizes.

Formula Boosts Closings
Knowledge, skill and motivation are three components essential to sales success -- especially as the overall market struggles, according to a new sales book reviewed by MortgageDaily.com.

How to Be a Mortgage Broker
One of the steps to take to become a megaproducing originator is to remember it's not about making money, it's about helping clients achieve their own goals. Do that and the money takes care of itself, according to a new book on how to be a mortgage broker.



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Sales White Paper
An expert analysis of key sales principles. "If you can't improve your sales from this white paper, then either you're already the best in your class or you should get out of sales."