Synopses & Reviews
Master The Art Of Selling Mortgages!
The High-Income Mortgage Originator is your guide to a rewarding sales career in a growing field. What could be more satisfying than helping a young couple buy their first home, or helping a parent fund a child's college education, or helping an entrepreneur start a dream businessall while you make a great living?
Mortgage originators not only experience the satisfaction of helping people borrow the money they need; they get to be their own bosses, make their own rules, and make plenty of money. Whether you're looking for your first job or transitioning from a corporate position, The High-Income Mortgage Originator gives you all the tools to grow your wealth and your career in real estate finance.
This comprehensive guide not only provides a beginner's course on getting into the business, but also provides references, examples,and business practices that lead to high incomes. It teaches proven principles and practices in customer service, marketing, and lead generation that will build your reputationand your business.
For example, you'll learn how to mount an effective marketing campaign to bring in more business than you can handle. You'll also read sample scripts that help you talk to prospects and bring them into the buying process without using pressure or gimmicks. Plus, you'll master the art of selling mortgages, understand every step of the mortgage process, deliver effective sales presentations, learn to evaluate mortgage applications and credit reports, and draft loans that make all parties happy.
Becoming a mortgage originator is a proven path to financial freedom, and good mortgage originators can make great money even in bad markets. The High-Income Mortgage Originator gives you the tips, advice, and best practices you need to build a thriving business with a growing and loyal customer base.
Synopsis
What’ s better than selling a product that everyone wants and needs--mortgages--in a career requiring no special education and minimal start-up costs, where you decide how much money you’ ll make? Nothing What does it take to turn this “ dream job” into a reality? Richard Giannamore’ s The High Income Mortgage Originator isa comprehensive and practical guide to a rewarding career in sales in the rapidly growing mortgage industry. This engaging combination of nuts-and-bolts technical information and “ tell it like it is” guidance on “ best practices” fully prepares readers for success in the exciting world of mortgage origination.
The High Income Mortgage Originator brings the mortgage loan process and the secrets to creating a successful mortgage business to life, enabling readers to start earning money immediately. Tips, advice and best business practices in each chapter create a solid foundation to establish and grow a customer base and a thriving, money-making business. Combined with solid and complete information about mortgage instruments, the book’ s practical, step-by-step business orientation prepares readers for the marketing, selling and customer relations activities needed to attain success quickly.
Synopsis
MASTER THE ART OF SELLING MORTGAGES
The High-Income Mortgage Originator is your guide to a rewarding sales career in a growing field. What could be more satisfying than helping a young couple buy their first home, or helping a parent fund a child's college education, or helping an entrepreneur start a dream business--all while you make a great living?
Mortgage originators not only experience the satisfaction of helping people borrow the money they need; they get to be their own bosses, make their own rules, and make plenty of money. Whether you're looking for your first job or transitioning from a corporate position, The High-Income Mortgage Originator gives you all the tools to grow your wealth and your career in real estate finance.
This comprehensive guide not only provides a beginner's course on getting into the business, but also provides references, examples, and business practices that lead to high incomes. It teaches proven principles and practices in customer service, marketing, and lead generation that will build your reputation--and your business.
For example, you'll learn how to mount an effective marketing campaign to bring in more business than you can handle. You'll also read sample scripts that help you talk to prospects and bring them into the buying process without using pressure or gimmicks. Plus, you'll master the art of selling mortgages, understand every step of the mortgage process, deliver effective sales presentations, learn to evaluate mortgage applications and credit reports, and draft loans that make all parties happy.
Becoming a mortgage originator is a proven path to financial freedom, and good mortgage originators can make great money even in bad markets. The High-Income Mortgage Originator gives you the tips, advice, and best practices you need to build a thriving business with a growing and loyal customer base.
Synopsis
How anyone can earn top dollar selling retail mortgages
The High-Income Mortgage Originator is a comprehensive guide to a rewarding career in sales in the rapidly growing mortgage industry. Unlike other books on this topic which focus on technical information about the job of originating mortgages, this book is about how to sell more. It describes industry best practices and explains what it takes to succeed in the exciting world of mortgage origination. Giannamore exposes the inner workings of the loan process and the secrets of creating a successful mortgage business, enabling readers to start earning money immediately. The book covers the basics of marketing, selling, and customer service. It provides readers with the expertise needed to make selling mortgages a rewarding career.
Richard Giannamore (Wolcott, CT) is President and CEO of Mortgage Services, Inc. and has over 20 years of experience in the business. He is also CEO of Financial Program Strategies, Inc., and creator of the $-Road to Riches-$(R) education seminars. Barbara Bordow Osach, MBA (Woodbridge, CT) is a consultant to Mortgage Services, Inc. who has designed training and best practices documents for numerous industries.
Synopsis
The High-Income Mortgage Originator
"The authors have produced a comprehensive guide to becoming a successful mortgage originator. The book will benefit both the entry-level and seasoned originator."
Anthony N. Gugliotti, Vice President, Naugatuck Savings Bank
"The High-Income Mortgage Originator is a must-read for anyone starting out in the industry or changing careers. I found that the book clearly illustrated the necessary information, skills, and knowledge needed, complete with forms and tools, to get started in the business. More importantly, the authors emphasized the service side of the mortgage business, which would greatly benefit someone just starting out."
Mary Sue Cavanagh, Executive Director, EntrepreneursNOW, Inc.
"The author writes step-by-step procedures in detail, spelling out regulations and including forms. Key communication skills and operating practices are explained throughout the text. This book truly will provide a business opportunity for readers who take it seriously!"
Byron Eddy Waterman, EdD, Connecticut Adult Education System
About the Author
Richard Giannamore is President and CEO of Mortgage Services, Inc., and has more than twenty-five years of experience in the business. He is also CEO of Financial Program Strategies, Inc., and creator of the $-Road to Riches-$® education seminars.
Barbara Bordow Osach, MBA, is a consultant to Mortgage Services, Inc., and has designed training and best practices documents for numerous industries.
Table of Contents
Preface.
Acknowledgments.
Dedications.
Author and Contributor Biographies.
Part 1. What You Should Know.
1. Mortgage Originator--The Best Job in the World: How to Make Lots of Money Selling.
Money and Fulfilling Dreams.
Expectations: Getting What You Want.
It's About Selling.
Learning The Ropes.
Making A Difference, One Loan At A Time.
Choosing A Company, Deciding How Much You Want To Earn.
A Day In The Life of a Mortgage Originator.
2. Big Picture: Understanding the Mortgage Loan Process.
Borrowers: Understanding Events That Motivate Them.
First Steps: Initiating Contact to Submitting the Application.
Home Stretch: Processing, Underwriting and Closing the Deal.
After the Close: Maintaining Relationships with Borrowers.
Key Points: Recapping the Highlights.
3. Players: Defining Your Interests and Those of Borrowers, Lenders and Brokers.
Borrowers: Seeking a Solution.
Investors: Defining the Market.
Lenders: Playing the Market.
Brokers: Crafting the Transaction that Works for Everyone.
Originators: Creating Opportunity.
Processors: Keep it Flowing.
Underwriters: Assessing Risk and Reward.
Supporting Players: Providing Assurances.
Next Steps: Getting Up to Bat.
Part 2. The Mortgage Selling Cycle.
4. Step 1: Generating Leads, Prospecting and Keeping Score.
Making Your Delivery Special.
It's a Numbers Game - Know the Score.
What Makes an Effective Sales Presentation?
Attention: Targeting Needs, Providing Solutions.
You Don't Have to Start From Scratch.
5. Step 2: Moving a Lead to a Prospect.
Eight Rookie Sales Mistakes and How to Avoid Them.
From Lead to Prospect - Getting the Go Ahead for the Application.
Rating Commitment.
Integrity.
Keeping Track.
6. Step 3: Facts and Forms: Taking the Mortgage Application.
Why Do You Ask?
Let's Talk.
As Soon As You Get Off the Phone.
Credit Reports.
Keeping Score.
7. Step 4: Interpreting Ratios and Credit Scores, Building Trust.
What Does it All Mean?
Reality Check: Qualifying the Prospect.
The Credit Call.
Integrity.
8. Step 5: Determining the Right Product For Your Prospect.
Fixed Rate Loan Products.
Adjustable Rate Mortgages (ARMs).
Payment Options.
Matching Prospect Goals and Qualifications to Products.
Pricing Loans – Unraveling the Rate Sheet.
What to Do When There Is Nothing You Can Do.
Automated Underwriting Tools.
Keeping Track.
9. Step 6: Selling A Proposal That Makes Sense.
Basic Calculations for Comparisons.
Presenting the Choices.
Objections.
Keeping Track.
10. Step 7: Creating a Customer Relations System.
A Little Technology Goes a Long Way.
Loan Cycle Communications.
Track Your Communications.
Part 3. Wrap Up.
11. The Loan Package: Preparing the Loan for Processing.
Uniform Residential Loan Application (1003).
Good Faith Estimate.
Truth in Lending Disclosure Statement.
Final Touches.
Making It Official.
Tracking.
12. Brokers and Lenders: Identifying and Serving Their Needs.
Processing to Submission.
Submission to Approval.
Approval to Close.
Keeping Track.
13. The Wrap-Up: Closing the Loan.
Preparing Your Client for the Closing.
Other Closing Documents.
Show Me the Money.
14. Next Steps Toward Your Future.
Starting From Scratch.
Finding the Right Firm.
Conclusion.
Afterword. Downturns in the Mortgage Cycle.
Appendices.
A. Key Mortgage Industry Resources on the Web.
B. Glossary.
C. A Day In The Life of a Mortgage Originator.
D. Overview of The Loan Process.
E. Comparison of Financial Instruments.
F. Key Ratio Calculations.
G. Quick Ratio Guidelines for Conforming Loans.
H. Using Microsoft Office for Customer Relations Management.
Mail Merge for Personalized Letters.
Searching Through Your Client Base.
Setting Reminders.
Downloadable Forms and Templates.
Tracking Forms.
Standard Loan Origination Forms and Documents.
Calculation Templates.
Lead Generation Templates and Samples.
On-Line Application Submission Link.
Index.