The Unchained Originator: Ken Stampe

by Brian Brady

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

I was disappointed with the low turnout of loan originators at UNCHAINED. There were two local originators, who attended our Mesquite library performance, and my buddy Ken Stampe. Ken and I met in 2006, on Active Rain. He was one of the first to sign up for Unchained. His only condition was that I buy him a beer in Phoenix.

Of course, a thousand bucks is a lot to pay for a cold Bud so he was hoping for a whole lot more. He got his money’s worth by showing up. That’s the name of the game in mortgage origination today; showing up. There were some 70 REALTORs at Unchained. Some are beholden to the local originators and I might have impressed a few but Ken Stampe was the Trojan Horse.

The Trojan Horse, as told in Virgil’s Aeneid, depicts the Greeks as guerrilla warriors, using the Trojans’ strength against them.

Ken Stampe is a modern day Greek. While originators were bellyaching at TAMB conferences , Ken dressed up in a Web 2.0 costume, and penetrated the walls of the RE.net. Now before some smart fella reminds us of the saying the Trojan Horse story inspired,

“Beware of Greeks bearing gifts“,

let me tell why Ken’s strategy is flawless. He is ONE OF YOU, now. He’s playing on the social media marketing playground. By definition, he knows the rules of web transparency. He screws up? You blog about him. He plays the bait and switch game? Zillow’s consumers will crucify him. I know Ken so I know him to be impeccable in his business practice but good fences make good neighbors. The transparency of the Web 2.0 world makes us better originators which, in turn, makes you better REALTORs.

Here are four things Ken did by attending UNCHAINED:

1- He met me. Seriously, that’s important. Originators need support systems across the country. We call each other frequently to bounce ideas off one another. While we were phone friends, Ken cemented an already strong relationship.

2- He lives and lends in Texas. Some investment brokers are having a tough time getting their clients financed, down there. He met one at UNCHAINED.

3- He met David Gibbons. While Zillow Mortgage Marketplace may be a tear in the ocean today, it will influence the way originators do business for years to come. Advertisers and venture capitalists will determine the viability of Zillow’s Bourse but the revolutionary idea they have is irreversible. Online marketplaces will play a major role in mortgage search in the next decade.

4- He met you. He has that little Bloodhound UNCHAINED badge to prove it. He’s schooled in the way you are marketing your business. Most lenders don’t understand how you market yourself; Ken does.

Understanding is important. I’ve been fortunate to meet and do business with outstanding REALTORs because of my web presence. That didn’t happen by mistake but by design. I have always felt it more productive to hang out with REALTORs than loan originators. Learning how you operate your business allows me to offer ideas for improvement. Ask any BloodhoundBlog author or reader what drives mortgage rate volatility. I’ll bet you the price of November’s UNCHAINED conference that they won’t say what 90% of the loan originators still believe (and those 90% are incorrect). That education is reciprocal, too. I know more about the CAR or AAR sales agreement because I ask my REALTOR partners to explain it to me.

Loan originators need to step up their game in the Web 2.0 world. We worked our collective butts off to get consumers to call us first so that we can control the transaction. That balance of influence is shifting back to the REALTORs, engaged on the internet. If we’re not careful, we’ll be panhandling for business, armed with rate sheets and donuts, like we did in the mid-90s.

Get engaged. Add value to the RE.net by feeding hungry REALTORs the information they so desperately need; how to get their clients’ financed. There are only a few Trojan horses in this space. Ken Stampe is one of them. He walked away with at least 10 invitations to call him about mortgage financing.

If you lend in Florida, you might consider a trip to Orlando, this November. You’ll meet some REALTORs, marketing their businesses the Web 2.0 way…if you can pry them away from Ken.