AIME Podcast Network

California Mortgage Broker Danny Calderon is the first Spark Grant recipient we’ve had on the podcast. After almost ten years in retail, Danny made the jump to work for himself. With the support of AIME, Spark, and the Brokers Are Better Network and Facebook Group, Danny is more than set up to succeed during this rising interest rate environment. 

After attending an AIME Fuse event, Danny realized that Wholesale was the place to be. While in retail, Danny started questioning things when he had to keep declining loans he knew he could get done with a little more time and energy. As a broker, he knew he would gain the options to be able to help every family get their home, but it wasn’t until he saw the support the broker channel now has thanks to the Association of Independent Mortgage Brokers. 

He has taken advantage of the Brokers Are Better Network to claim exclusive discounts on top-tier products to create a simple but effective tech stack (remember, the best tech stack is the one you use). Whenever he gets caught up during a tricky loan scenario, he posts in the Brokers Are Better Facebook group and an army of mortgage brokers and loan officers are there to offer their help and expertise. 

Danny’s favorite change from transitioning from retail-to-wholesale? He loves being able to actually advise and educate his clients. Instead of just passing on FHA loans like his previous retail banks would have preferred, Danny now has the ability to sit down with a family, learn their needs and wants and struggles, and then curate a customized loan that will work perfectly for them. He can walk a Gen Z, first-time homebuyer through the process using just texts or he can sit down face-to-face with a retiring investor who has an entire portfolio of real estate investments. And at the end of it, Danny can rest happy knowing he was able to shop multiple programs with multiple lenders to find the perfect personalized loan for each individual client.   

So whether Danny is working with an FHA or Jumbo loan, he knows he doesn’t have to turn anyone away. His tech stack is set up for speed so he can spend less time on the back-end and more time working with the consumer and making sure they have the perfect experience. And if a scenario ever crosses his desk that he doesn’t feel he is an expert in, Danny knows he has an entire network of mortgage experts through which he can confidently refer clients. Danny’s parting advice? Do the right thing and the right thing will happen to you. 

Notes: 

Introduction (1:00)

Being A Mortgage Advisor (14:40)

Tech Stack Breakdown (22:14)

Brokers Are Better Facebook Group (29:00) 

Perfecting A Work/Life Balance (33:35)

This Episode Is Sponsored By The AIME Spark Small Business Grant Progam

The post Why Mortgage Brokers Need To Believe In, & Bet On, Themselves (With Danny Calderon) – Episode 113 appeared first on AIME.

Looking back at his 32 years in the housing industry, Homepoint President and CEO Willie Newman has come to the conclusion that Brokers Are Better. In this special episode of Broker-To-Broker, Marc and Willie talk about the history of the wholesale channel, the importance of both finding and being a mentor, and why retail bankers should transition to being a broker. 

When Willie first joined the industry in the 80s, he had a mentor who theorized that brokers, mostly doing hard money loans at the time, were going to become a much more significant part of the mortgage process. Willie believed him, hopped on for the ride, hasn’t left since, and never plans to leave. Willie credits a large amount of his success to his mentor pushing responsibilities and having faith and trust in Willie. And while Willie and Marc admit that it isn’t the easiest thing to do, delegating tasks and trusting your staff is the key to growth and long-term success. 

Other Brokers, even those close enough to be your neighbor, are not competitors. Always outnumbered by homeowners, brokers have to lift each other up with the goal of increasing mortgage broker market share. Brokers are better, but we’re even better together.  A rising tide lifts all boats, and the more we help each other, the more homeowners will recommend using a mortgage broker, and the more market share brokers will earn back. The goal should not be to maximize profit but to maximize homeowners helped and families housed. And the only way we can do that is if we all collectively get better together. 

Marc and Willie also admit that the wholesale channel isn’t for everyone. If you’re only in it for the money, then being a broker isn’t for you. You need to have a passion for helping people; homeowners and brokers. They understand that it can be hard to step away from the perceived safety net retail lenders provide, but as Marc and Tom mention, the best security blanket is providing the best possible deal to the consumer. And as rates rise, more retail lenders will most likely continue to make additional cuts, on top of the mass layoffs we’ve already seen. 

Independent Mortgage Brokers have freedom. They have the ability to find and choose the best possible deal and most personalized scenario for their clients. For brokers, It’s not about the transaction. It’s about the commitment to helping homeowners realize their dream. That’s why, Willie says, “Brokers Are Better.”

Notes: 

(3:25) Origin of Homepoint

(9:50 ) The importance of mentorship

(14:21) Transitioning from retail-to-wholesale 

(24:37) Successful Broker/Lender Relationships 

This Episode Is Sponsored By Homepoint

The post Finding a Mentor, Being a Mentor, & Transitioning from Retail-To-Wholesale (With Willie Newman) – Episode 112 appeared first on AIME.

Virginia Broker/Owners  Eric Tan and Daniel Solis credit the success of their brokerage, VA Wholesale Mortgage, to low overhead, word-of-mouth marketing, and authenticity. Back when their boardroom was a kitchen counter, Daniel fell in love with Eric’s vision to help military veterans. “You can’t hide a genuine passion,” Daniel says. Eric and Daniel have now grown their two-person operation into a team of 20 Loan Officers and are now officially certified as a Veteran-Owned Small Business (VOSB) by the US Veterans Affairs Department.

Eric and Daniel made it very clear, especially when first starting out, that you should buy only what you need to buy to get the job done right. “You don’t need all the bells and whistles to help people,” Eric shares. Instead of wasting a lot of money upfront on an expensive office, Eric and Daniel were able to afford lower compensation rates for their clients and offer full medical benefits and 401k options to their staff. They focus more on volume than money per loan because it’s not about the money. It’s all about helping as many people as possible.

Daniel provides an example of a past homeowner who was denied by almost a dozen lenders. A client had a small hiccup in the form of a delinquent property from 20+ years ago, and after having already lost one child, their other child was paralyzed and needed a home that was close to the local hospital and was outfitted with custom doorways. It was clear that a cookie-cutter bank loan just wasn’t going to cut it. VA Wholesale Mortgage rolled up their sleeves, opened up the VA handbook, and got to work. It took time and effort, and wasn’t the most financially beneficial loan they’ve ever done, but again, it’s not about the money. They helped out a neighbor in need because it was the right thing to do. This is why Brokers Are Better.

Notes: 

0:31: Tiger Woods Tees Off At The Masters

5:12: From Retail to Wholesale Mortgage

11:15: Operations Breakdown and Structure

18:00: How and Why To Keep A Low Overhead

26:00: VA Home Loan Advocacy And Myths

35:55: Eric and Dan’s Best Advice For Brokers

This Episode is Sponsored By The AIME Member Portal (AMP)

The post Building A Recession-Proof & Relationship-Based Brokerage (With Eric Tan & Daniel Solis) – Episode 111 appeared first on AIME.

Rami Daood, President and CEO of RightWay Lending, was a top producing agent at Rocket Mortgage, earning the Triple Crown President’s Club award. Having grown tired of a numbers-only game, he opened his brokerage In 2021. “The level of care [in wholesale] all the way around is way different. I don’t work on hours – I work on results.” As his business grows, Rami plans to have five loan officers on his team by the end of April.

Rami, a Hall of AIME Visionary Award winner, is renowned for his problem-solving skills while keeping things simple – including his tech stack and elevator pitch. Continuing into the unknown realm of mortgage rates, he asks other brokers, “What steps are you taking to generate business?” Perfect your elevator pitch, including questions such as “What types of qualities are you looking for?” Always stay in contact with the client and build a long-lasting relationship based on a clear understanding of their actual goals.

Rami recommends becoming familiar with your local market as a new Broker/Owner and keeping a growth mindset. “Take a second, slow down – everyone wants to go, go, go, but slow down and implement the things you’re learning.” 

Tune into the podcast now to learn more about Rami’s methods. 

Notes: 

1:40: From Retail to Wholesale Mortgage

14:00: A Simple, But Effective Tech Stack

17:00: Why Brokers Are Better

18:00: The Perfect Elevator Pitch

22:50: Get to Know Your Local Market

26:40: Rami’s Best Advice

This episode is sponsored by Homepoint

The post Prepping for Purchase Season: Perfecting the Right Conversations as an Independent Mortgage Broker (With Rami Daood) – Episode 110 appeared first on AIME.

Newman Mortgage Group‘s President and Founder, Matt Newman, began his career as a meteorologist. Realizing he was not fulfilled, he obtained his real estate license in 2006, survived the 2008 crash, then reevaluated his path in 2012. He joined Silverton Mortgage Specialists, Inc. as a loan officer in 2017 then opened his brokerage the same year.

Matt enjoys being a mortgage broker the most. “What I enjoy most is holding someone’s hand through the financial aspect of the transaction.” Matt advises new brokers, including those coming from retail, to “Find someone in the community that matches your style.” With rising mortgage interest rates and borrowers, “It’s all about setting up that expectation upfront.” 

Matt utilized his past client base as a real estate agent to become a 100% referral mortgage broker. A low housing inventory in the market allows Matt to compete with large mortgage companies and banks. “[You should go] at it with a heavy consultative model… it’s very critical in this market, leading to referrals.” Additionally, the listing agent is his target since he will be introduced to the buyer’s agent. Many of his referrals have also come from the Brokers Are Better Facebook group. 

Hear more advice from Matt Newman now. 

Notes: 

This episode is sponsored by UWM

The post Prepping for Purchase Season: Rising Mortgage Interest Rates with a Referral Business – (With Matt Newman) – Episode 109 appeared first on AIME.

Eric Eisenberg, President of Expert Home Loans, started his mortgage career at 16. As he delivered food to a local mortgage broker in New York, he was offered a part-time job in high school. As early as day three of the new position, Eric was generating eight leads a day. 

After attending college for one year, he started selling subprime mortgages with his older brother’s friends. With a passion to advance his career, Eric applied multiple times to work at Morgan Stanley but was rejected since he did not have a college degree. With a determined mindset, Eric was hired as a Financial Advisor at the company, then moved to Merrill Lynch. 

Eric attributes his success not only to his past but also to his processes. One of them is cold calling. “Cold calling is an art form,” he says. “The trick is to add value outside of closing deals.” Find out what the client is struggling with, and how you can assist. 

Second, leverage Non-QM and Jumbo loans; become an expert in both of these products. “Read the guidelines. Read the updates,” Eric states. 

Lastly, when speaking to a ‘new build’ client, learn to push your services. The builder’s lender will offer plenty of credits to borrowers, but understand where those credits are coming from. Eric says to always remind the client that you’ll have their back throughout the process. 

Eric encourages novice wholesale mortgage brokers and loan officers to stay ahead of deals. “That’s going to be enough with communication, and you’re going to give the client such good service,” he says. 

Learn more about how to improve your processes by listening now.

Notes:

This episode is sponsored by AmeriSave

The post Perfecting Your Processes: Cold Calling Tips, and the Mortgage Broker vs. the Builder’s Preferred Lender – (With Eric Eisenberg) – Episode 108 appeared first on AIME.

From mortgage application to closing, Fannie Mae West, the President of OPTIST, Inc., offers a clear process. With a name meant for the mortgage industry, Fannie entered the market in 2007 after partnering with a real estate agent. After her brokerage closed, she worked in correspondent lending while searching for a new career path. 

Fannie Mae opened OPTIST, Inc. in February 2021 after receiving the AIME Spark grant. “Follow your dreams, don’t be scared to make a change,” she says. “The good outweighs the bad. As long as you bring YOU to the table and what makes YOU successful, then you can make it.” 

As mortgage rates increase, creating the right mortgage loan process is key. Fannie Mae heavily relies on technology, yet maintains a personal touch. Her tech stack includes a pre-approval app, ARIVE, and a CRM. In order to reduce the number of emails, she uses an online portal where customers can upload their documents. 

When she receives a mortgage loan application, she schedules a consultation with the borrower. “The pre-approval has to be solid,” she states. Before sending the file to underwriting, Fannie Mae scrubs the file so that there are as few conditions as possible.

Once a clear to close has been achieved, Fannie Mae communicates clearly and simply with the borrower about the next steps. “Moving Day Meals” are part of her mortgage post-closing procedures, in which food is delivered on the day the borrower moves in. In addition, she mails closing gifts.

Fannie Mae, a veteran of the Army, is an active member of her local community. She belongs to a group for women business owners, serves on the board of a local non-profit organization, and owns a ministry titled Chosen to Live. She also offers financial workshops and seminars to first-time homebuyers. 

Fannie Mae credits AIME with helping her achieve her goals. “I go into the [Facebook] groups and I get so much information. I was able to save a deal from the information I read in Brokers Are Better.” 

The post Perfecting Your Processes: From Lead to Closing – (With Fannie Mae West) – Episode 107 appeared first on AIME.

Broker/Owner of Destiny Mortgage Lending, Melanie Walburg, turns to unique sources for mortgage lead generation. “Grow and thrive, think outside the box,” she advises. During the past two years, she has originated over $60 million in mortgage loans in the state of Georgia by connecting with CPAs, divorce attorneys, and clients who have purchased or refinanced a home. “It’s all about the units. Every loan is a potential referral connection for other clients,” she says. Don’t be afraid to offer help to others in the Brokers Are Better, VIP, and Women’s Mortgage Network Facebook groups. As a result of helping other brokers, Melanie has been able to gain referrals.

Melanie is a seasoned mortgage professional with over twenty years of experience. Originally hired as a receptionist for a construction finance company in 1995, she was soon promoted to an executive position. Following, she became a loan officer, then she started her brokerage in 2005. After surviving the 2008 crash, she kept her advice of working hard, maintaining good ethics and morals, and pivoting into the future. “You have to prepare for the lean times,” she advises. 

Keeping honest communication is always important, but during this year’s rising interest rates, it is even more crucial. Keep the listing agent informed of any updates, including when the appraisal is completed and the disclosures are available. Only ask for what the underwriter will ask for – don’t overburden the borrower with paperwork. “It’s all about the experience, for both the borrower and the real estate agent.”

Notes:

This episode is sponsored by leadPops.

The post Perfecting Your Processes: Diversifying Your Mortgage Leads – (With Melanie Walburg) – Episode 106 appeared first on AIME.

The President of Prime Mortgage, LLC, Janine Kempfer, has more than 25 years of experience in the mortgage and real estate industries. Despite purchasing her own home in her 20s, she faced challenges and eventually had to rent an apartment with her son a few years later. Having learned the burdens of saving money for a house, she developed a passion for real estate and became a real estate broker while working in corporate America. 

In addition to showing houses while in school, she also originated mortgage loans. When her living situation improved, it was time to focus on the community. After being laid off from her corporate job, she turned to residential real estate full-time and became an AE until the 2008 financial crisis. She switched to franchising and bought a company that rented new houses out to potential homeowners on a rent-to-own basis, then and a Snap Fitness with her husband. 

Eventually, the businesses were sold. “I never look at closing a business as a failure because you learn so much. I’ve learned so much about business, how to deal with people, and about myself – how do I handle adversity, or how do I handle success? If you aren’t seeing success, how do you build on that and make it something more?”

Since opening Prime Morgage, LLC six years ago, Janine has never looked back. Beginning alone, she acquired a team including a third-party processing company, and now she has two assistants, one of whom is her sister. She has remained a consultant for The Franchise Consulting Company. Her extensive background allows her to understand a wide range of aspects of the business. 

As a triathlon athlete, Janine draws inspiration and dedication from her fitness training for her business. Despite experiencing nuisances during her career as a diverse woman, she has always maintained her vision and stayed connected to what she wants. “Get your vision in place, and don’t let anything stop you from reaching your goal. Things will be hard and go up and down, but if you have in your heart what you’re trying to accomplish, nothing can stop you.” 

Janine was recognized as a Sparking Change winner in the Minority category at Hall of AIME. She is most passionate about teaching others about the impact this industry has on the local community while making sure people are educated about the past and present and what it will take to change it. “We have to have a better answer than someone can just Google. Personalizing and customizing solutions for clients is what we do.”

Notes:

This episode is sponsored by REMN.

The post Perfecting Your Processes: Forging a Path as a Black Female Mortgage Entrepreneur – (With Janine Kempfer) – Episode 105 appeared first on AIME.

Shawn Williams, a former Division III basketball point guard, developed a winning mindset early. As the Founder and President of Fortis Mortgage and Ailen Capital, he has helped thousands of families in Washington, D.C., Maryland, and Virginia, become homeowners or refinance their homes.

As a Founder of Black Men Ventures, a non-profit that provides access to capital and networking to black male founders with less than a million dollars in revenue, and as the Founder of Kid From Greene, a non-profit that provides transportation services for local at-risk youth, Shawn is deeply embedded in the community. A certified Eric Thomas & Associates LLC speaker, he speaks passionately about goal-setting, mentorship, entrepreneurship, and various mortgage-related topics and sits on the board for the Maryland Mortgage Bankers and Brokers Association, Inc. and Juice 4 Life, Inc. 

In 2005, after spending time with NPR and telecommunications companies, including Verizon, Shawn was introduced to the mortgage industry by his best friend after the death of his grandmother. Following the 2008 crisis, he started his own branch and rose to management in 2011, then to District Manager and then Executive Leader. In 2018, Shawn decided it was time to become a Broker/Owner, fueled by his passion for breaking down barriers to homeownership. 

Shawn leads a small but powerful team that keeps growing. Six months ago, he hired a new Loan Specialist, and he works closely with his mother, an Executive Assistant, two Client Success/Services professionals, and a Business Development Manager. He designed front-end and back-end systems using human-friendly technology, including personalized BombBomb videos that go over disclosures with borrowers via video; this personalized touch results in high Google Reviews from clients regarding how efficient the process is. 

For new Broker/Owners, those thinking about starting their own brokerage, or those who are reinventing themselves, Shawn recommends, “People first, money will follow.” Plan some procedures, invest in education for borrowers, and be fair and humane in everything you do.

Notes: 

This episode is sponsored by Brokers Are Better.

The post Empowering and Leading Your Team as a Diverse Broker/Owner – (With Shawn Williams) – Episode 104 appeared first on AIME.