America's #1 Mortgage Broker

I mentioned yesterday that we needed an Experienced Loan Processor and submitted an advertisement on Craigs List.  It was really quite a bargain at $50 (I advertised in two categories).  I was quite pleased with the results.  We had five people submit their resume and four of them actually called us.  I'm reasonably certain that we'll be able to select one from the highly-qualified candidates.

One of the features I really liked is that I could write a long-copy advertisement.  You'll notice from the prose that I tried to speak to EXACTLY whom I wanted; I wasn't disappointed.  My rationale for writing the advertisement like a blog post is that I wanted to disclose as much as possible while entertaining the reader.  I wanted them to get a feel for my personality and marketing prowess.  After all, the processor's income will be dependent upon my ability to generate sufficient business.  I assumed that they were interviewing me as much as I would be interviewing them; I wanted to impress the candidates.

Mr. Rudy Butler emailed me expressing his difficulty submitting through Craig's List:

I was trying to send over my info but it keeps getting kicked back from craigslist. Can you send me a diffrent (sic) email address ?

Always the pleaser, I responded immediately:

try mortgage_loan_officer@yahoo.com

What I didn't expect was the html-laden spammy advertisement for loan modifications. Certainly, Mr Rudy Butler found an innovative way to harvest e-mail addresses to "reverse advertise" his loan modification processing software, by e-mailing unsuspecting employers, under the guise of a help wanted advertisement.  Awfully clever, isn't it?  I mustn't have been in my normally appreciative mood today; I e-mailed him this reply:

I hope you didn't take my email address from the reply I sent you to add to your marketing database.  I returned an email inquiry to the processing job.  I did NOT opt in to receive marketing pieces.  Please remove me immediately.

You see, I can get really protective of my inbox.  I receive close to 400 e-mails daily; 75% of them are unsolicited spam.  I hadn't realized I was in the presence of such online marketing innovation!  Mr. Rudy Butler set me straight, though:

I didn't add you to any kind of marketing list. You were looking for a processor and that what I was offering a software that can do all the Loan Modification processing for you . Its worth checking out. It will cut down on you overhead and increase your profits

Aha!  Silly me.  I dont REALLY need an experienced government loan processor, I need a loan modification processing software program.  It will cut increase my profits!  I must not have understood because I replied:

Please remove me from your list, Rudy.  We don't do loan modifications.

Mr Rudy Butler corrected my testy demeanor (with a last ditch sales pitch):

Okay Brian chill out I dont have a list I got your info off of craigslist but If you dont do Loan Mods then I wont contact you about that. Do you have any clients that need Debt Settlement ? We can settle for 50% with no upfront fees. If not Thanks for your time

I felt I needed to be specific in my denial of his request for consideration of his services:

Please don't contact me, Rudy.

Alas, Mr Rudy Butler had to have the last word:

Okay Brian I will keep that in mind.

Thank you, Mr Rudy Butler; you do that.  Just in case you forget, this blog post can be a perpetual reminder.

PS:  if you were more impressed than I was, you might follow @MrLoanMod on twitter

We're slammed so that's a good thing.  If any of the folks on Active Rain know candidiates for an experienced Loan Processor position, we're hiring one (maybe two) of them.  Our purchase business volume spiked and my wife Debra is taking off for the summer, as of June 10.  She'll come back after Labor Day as a loan originator.

Anyway, I posted this on Craig's List and would appreciate it if you'd forward it to any worthy candidates:

This is the perfect setup for a grizzled, experienced mortgage loan processor. You walk with a swagger because you can recite FHA and VA underwriting guidelines verbatim. Heck, you might even have a DE certification in your background. You were probably aghast at the stupid NINJA loans being funded earlier this decade. You didn't know why originators weren't developing real estate agent relationships and wondered what would happen when Armageddon came to the mortgage industry...so were we.

Armageddon came to the mortgage industry but we're still standing. A little battered and bruised but we weathered the hurricane well; now we're thriving.

How'd we pull it off? Old-school hustle, that's how. We embraced the internet, called a bunch of real estate agents, read the guvvie underwriting guidelines, and started funding loans for first-time home buyers. Imagine working with a team of originators who actually READ underwriting guidelines, court real estate agent business, and do what they say they're gonna do..that's us. The result? We fund a lot of VA(they're the most fun), FHA, CalSTRS, and CalPERS loans. We got a lotta happy sailors, marines, teachers, firemen, and cops as clients.

We mostly broker to the conduits right now (Sierra Pacific, Uniwest, Mountain West, and First Mortgage) but we're not scared to broker to the big boys (Countryide/BofA and Wells Fargo). We have a correspondent relationship with Flagstar but we only fund there if it's in the borrower's best interest. You won't find 4 point loan jockeys here; we pride ourselves on our ethics (and volume).

Here's the other cool part. Our firm has been in the same Kearny Mesa building since 1991. We ain't going anywhere. Our problem? We need you, the seasoned, beat-up but proud loan processor who gets off on funding loans. If you like walking into an originator's office, with a clean underwriting approval for a hard loan, and being APPRECIATED for your professional dedication, you're gonna love working with us.

Are we being boastful? You're darned skippy we are! We love this business and understand that we're saving the American economy...one loan at a time. If we're speaking to you (and you know we are if you've read this far), we want you to stand up and be counted.

PS: Most of you will e-mail your resume and that's okay but the shining star that joins our team will e-mail the resume AND call (858)-777-9751. We expect that our "shining star" will be working with us by June 1.

PPS: If we love each other, we'll set you up in a nice private office, in our Kearny Mesa location. We'll give you an LOS-equipped desktop, access to AUS, FHA connection, the VA TAS, and tools that you need to be a kick-butt processor who can be proud of the job you do. We'll also protect you from "newbies" who want to sap all your experience, time, and energy, Confidently call and e-mail if you want to see if we're meant to be together.

• Location: Kearny Mesa- San Diego
• Compensation: Fee Per Funded File
• This is a contract job.
• Principals only. Recruiters, please don't contact this job poster.
• Phone calls about this job are ok.
• Please do not contact job poster about other services, products or commercial interests.

An excerpt from an article I wrote on industry site Top of Mind:

Today, mortgage brokers are frustrated. Recently, one floated the idea that NAMB had their lunch handed to them (and subsequently recanted), by a Congressional Committee, debating H.R. 1728.  Facts proved that nothing could be farther from the truth.  Read this fifteen-page transcript of the testimony of NAMB Governmental Affairs Representative, Denise Leonard.  Ms. Leonard argued the case for:

1. fairness in licensing standards among all originators: bank, brokerage, or retail lending sales representatives
2. more consumer-friendly disclosure documents
3. suitability in loan recommendations
4. lenders offering a variety of loan products without the threat of reprisal due to opaque regulations
5. increased borrower scrutiny of high-cost or “sub-prime” loans
6. abolishing (or suspending) the Home Valuation Code of Conduct so that consumers’ loan settlement costs won’t rise

Why are mortgage brokers upset then? NAMB is clearly representing our interests as is evidenced by the testimony of Ms. Leonard.  It is my opinion that NAMB is suffering from an identity crisis.  Rather than “Fight City Hall”,  I think we, as mortgage brokers should embrace and capitalize on much of the unfair legislation imposed upon us and advertise our superior value proposition to the public.  Let me outline my thoughts:

READ MY NINE POINT PLAN TO DEFINE THE NAMB MISSION HERE (opens in a new window)

Can real estate agents benefit from Facebook Quizzes?  I think so and the good folks who attended the BloodhoundBlog Unchained Online Marketing Conference helped me realize this.

Facebook Quizzes have often been considered the frivolous indulgence of the bored.  Witness Karen Parsons-Fiddler's observations from last April:

I admit it....long night, not bored exactly, but spare time? I'd like to say I have been busy writing offers and needed a break....truth? I've had a good week....but frankly I'm just goofing around..and yes, I've shared a bottle of wine with a couple of friends! :) Interested in the results?...too bad, here they are!

I was completely in Karen's camp.  I even shared the wary thought commenter Gabe Sanders had:

I'm actually very leery of who runs these quizzes and what information they may be gathering.

That's when it hit me.  I want to be one of the information gatherers Gabe Sanders feared so...

I created a Facebook Quiz to test people's mortgage knowledge.  To date, over 100 people have taken the quiz and I know all of their answers (along with their identities).  People with whom I have a common interest.

The big A-HA moment came at Unchained:

It didn’t hit me until my Unchained Omega Session; Facebook quizzes, long held to be a novelty, could start the right kind of conversations for real estate agents.  I played around with one a few months ago and over 100 people took my quiz.  The lightbulb went off for RuthAnn Macklin, a Virtual Real Estate Assistant and member of CyberProfessionals.  RuthAnn figures that she can demonstrate the need for her services by pointing out how difficult it is to “go it alone” as a REALTOR, through a Facebook quiz.

I gave some great examples of how Facebook Quizzes could be useful for real estate marketers.  Check it out and see if you might have that same epiphany.