Mortgage origination is a contact sport. It’s retailing. It’s selling. Too many of us can get caught up in the irrelevant tasks that top producing originators simply refuse to do. Why do we fall into the task trap rather than be focused on dollar productive activities? We do it because it makes us FEEL productive and we want to appear to have value to our Realtor partners.<\/p>\n
Let’s pretend that Russell Shaw was the National Sales Manager of the mythical Bloodhound Blog Mortgage. I listened to the three podcasts<\/a> of Mr. Shaw’s interview and he didn’t say a damn thing <\/strong>(that you haven’t already heard). That is what was so inspiring about the interview. There is no magic pill that you need to swallow to become the next mega-producer in mortgage originations. You already know what you have to do; take lots of loan applications that have a high probability of funding. Listen to the podcasts and you’ll be as stoked as I am right now.<\/p>\n The first notable piece of advice I heard from Russell Shaw was to write down all the stuff you hate about the business…then…don’t do it<\/strong>. Pay someone else to do it. I laughed so hard at my utter stupidity. I was a superstar rookie originator because I refused to do the “paperwork”. I took good applications, gathered up documentation,, locked the rate, and said…NEXT. I let processors process, underwriters underwrite, and funders fund while I sold and looked for ways to sell more than the other guy.<\/p>\n How easy it is to forget all of the basics. Don’t like placing loans? Lay off this work on your wholesale lending reps. If they’re incompetent, don’t use them. I remember the day when they came to your office and actually competed for the business. You don’t like taking applications? Invest in a website with an online 1003<\/a> (about $50\/month) and give away a free appraisal to applicants who use that function. Don’t like following the market daily<\/a>? Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Mortgage origination is a contact sport. It’s retailing. It’s selling. Too many of us can get caught up in the irrelevant tasks that top producing originators simply refuse to do. Why do we fall into the task trap rather than be focused on dollar productive activities? We do it because it makes us FEEL productive […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-959","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":15187,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15187\/who-has-cutting-edge-marketing-for-mortgage-origination\/","url_meta":{"origin":959,"position":0},"title":"Who has “Cutting Edge Marketing” for Mortgage Origination?","author":"Brian Brady","date":"October 6, 2011","format":false,"excerpt":"The mortgage business is pretty cut-and-dry today.\u00a0 Historically low interest rates, a whole lot less people in the industry, and five screwed-up banks are making it easy for originators to pick the \"low-hanging fruit\" today.\u00a0 I'm not so naive to think that the Garden of Eden will be as lush\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3317,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3317\/farewell-countrywide-how-the-bank-of-america-merger-will-keep-wells-fargo-as-the-mortgage-origination-leader\/","url_meta":{"origin":959,"position":1},"title":"Farewell Countrywide: How The Bank of America Merger Will Keep Wells Fargo As The Mortgage Origination Leader","author":"Brian Brady","date":"July 2, 2008","format":false,"excerpt":"WARNING!\u00a0 Long commentary about the Bank of America\/ Countrywide merger ahead: Bank of America Press Release from July 1, 2008 (italicized) with my commentary: CHARLOTTE, N.C., July 1 \/PRNewswire\/ -- Bank of America Corporation today completed its purchase of Countrywide Financial Corp. to create the nation's leading mortgage originator and\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1327,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1327\/when-banks-are-permitted-to-competethe-consumer-might-just-win\/","url_meta":{"origin":959,"position":2},"title":"When Banks Are Permitted to Compete…The Consumer Might Just Win","author":"Brian Brady","date":"April 21, 2007","format":false,"excerpt":"In Southern California, many loan originators are licensed by the Department of Real Estate. Such licensing is unique to California. California was one of the first states to require licensing of loan originators and chose to require that they have a real estate salesperson's license. Some bright Realtors realized that\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11580,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11580\/will-pre-approval-letters-be-banished\/","url_meta":{"origin":959,"position":3},"title":"Will Pre-Approval Letters Be Banished?","author":"Brian Brady","date":"March 17, 2010","format":false,"excerpt":"Score one more screw up for the Government-Banking Complex...and watch mortgage brokers thrive because of it. Andrew Duncan of Keller Williams in Tampa, FL reprinted a Mortgage News Daily story: As part of the changes to the Real Estate Settlement Procedures Act, borrowers can no longer shop for a home\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4858,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4858\/will-mortgage-brokers-be-the-hope-for-homeowners\/","url_meta":{"origin":959,"position":4},"title":"Will Mortgage Brokers Be the Hope For Homeowners?","author":"Brian Brady","date":"October 8, 2008","format":false,"excerpt":"The FHA Hope For Homeowners program was designed for existing homeowners, struggling with mortgage payments and an \"upside-down\" equity position in their primary residence.\u00a0 It is a new program with lots of misinformation.\u00a0 Some believe it can only be offered by existing loan servicers, some think only participating lender\/servicers can\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1650,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1650\/bankratecom-encourages-stupid-mortgage-banker-tricks\/","url_meta":{"origin":959,"position":5},"title":"Bankrate.com Encourages Stupid Mortgage Banker Tricks","author":"Brian Brady","date":"July 12, 2007","format":false,"excerpt":"Here is a sampling of mortgage offerings on Bankrate.com. (for July 11, 2007) I chose a $252,000 loan for a $315,000 purchase price in Phoenix. Income and assets need to be verified. Credit score of at least 620. I assume a 1% origination fee and about $1200 in APR loan\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=959"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/959\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}