AIME Podcast Network

Sal Ali, Director at InstaMortgage, has been working in the mortgage industry since he was 23 years old. Upon being offered a job at his brother’s brokerage, he entered the wholesale world. 

Today, Sal is a top-three originator for VA loans and VA IRRRL products in the country. Formally known as Arcus Lending, InstaMortgage recently ranked as one of Inc. 500’s Brokers of the Year and Fastest-Growing Private Companies in America, number 110 on the 2021 North America Technology Fast 500, and the fastest-growing private company in 2021 by the Silicon Valley Business Journal. It was started by Shashank Shekhar during the ‘dark times’ of the mortgage industry – 2008 – and presently provides services to over twenty-five states.

What is Sal’s secret to success? “Time, patience, and risk. You have to take the risk,” Sal says. Investing in yourself and your capabilities, along with well-planned processes and strategies, are the keys. Initially, Sal used direct mail to build his client base, and then he kept scaling what worked. In lieu of selling, he demonstrates his abilities and discusses the borrower’s central plan.

Three referrals should result from every closed deal. “You gotta be timely.” Always remain upfront and transparent with a borrower if a problem arises, such as an underwriting issue. “If they don’t qualify, you have to pick up the phone and call them. Don’t take it on yourself; reach out to your resources and be upfront with who you’re working with.” Sal also reaches out to real estate agents to offer his expertise on a specific product. “Send me your VA business, and I will show you what I can do for you.” 

Establishing quarterly benchmarks, and having the right technology in place, including lead generation systems and LOS, is paramount.Choosing the right technology stack can have a significant ROI, but it’s best to start small and grow it over time. In each quarter, Sal has improved one efficiency, mostly technology. “It’s important when you invest in the technology that you build it out to what you want.” With Shashank, he has developed a new AI assistant, Rachel, to help answer mortgage questions and locate client files. She is the first AI assistant in the mortgage industry.

What are Sal’s predictions for the mortgage market in 2022? “The same wave that happened in 2017 is happening now – the refi boom is gone, and it’s now a purchase market. There’s always going to be a niche product no matter what the market.” When Sal isn’t closing loans, he serves as the Education Chair for the Dallas Chapter of the VA Real Estate Professionals, educating real estate agents and borrowers on the VA product. 

This episode is sponsored by AFR Wholesale.

Notes:

The post Becoming a Top Producer with a Niche Mortgage Product – (With Sal Ali) – Episode 103 appeared first on AIME.

Paul Olbrantz, Broker/Owner of Clear2Close Brokers, started his career at a subprime call center before moving to a large retail bank. He quickly found that adding value and obtaining better conversations with clients led to more leads and better results. 

In April 2019, Paul Olbrantz and his wife, Danielle Olbrantz, opened Clear2Close Brokers. As the team realized that chasing rates was not a good business model, they began developing lasting relationships with their lending partners by learning their systems and discovering ways to succeed. “Having an amazing product, you have to know who to go to,” says Paul. “Start developing relationships with the right lenders, and as you grow, you and open up to more.” 

The following year, Danielle began her own third-party processing company, Clear2Close Processors, taking the majority off Paul’s plate so he could focus on growing the company. The company has grown to seven employees, while Clear2Close Brokers has six loan officers.

How did Paul close $177 million in purchases during 2021? Developing the right processes and strategies for mortgage lead generation and relationships, including clients, lenders, and real estate agents. “It’s gotta be simple, it’s gotta be measurable, and it’s gotta be reportable,” says Paul. When a customer calls or a real estate agent calls, he can easily look into his system and keep them informed of the loan’s progress. In addition, the coaching sessions that he attends every two weeks facilitate the process of calling real estate agents and selling his products. 

The past couple of years have been busy for Clear2Close – Paul attributes it to Bridge Loans, which add a lot of value to the client and real estate agent, and usually lead to a refinance after the loan is closed. Furthermore, Paul and Danielle have completed Homes for Heroes and are currently working on starting their own charity, Believe in Hope and Inspiration. Due to its slimmer margins and competitive rates, Paul predicts the broker channel will continue to grow.

Both Paul and Danielle plan to attend Hall of AIME, which is taking place this weekend in Miami.

Notes:

This episode is sponsored by Brokers Are Better.

The post Best Processes and Strategies to Win at Mortgage Lead Generation – (With Paul Olbrantz) – Episode 102 appeared first on AIME.

Jason Cecco, the President of Lending Heights, LLC, didn’t go to school for finance. After graduating with a degree in Engineering from Penn State University, Jason’s cousin Joe Cecco introduced him to the world of brokerage. Jason began working at ELends Call Center in the early 2010s, where he focused on FHA streamlines and made $500 per loan. In 2015, after moving around to small correspondents in northern New Jersey, he and his wife opened their brokerage in Pittsburgh after realizing the retail mortgage industry lacked transparency. The entrepreneur recalls sitting on milk crates to work out the business and teach her how to process loans. 

He had to learn which party sent disclosures since the retail lender handled everything, including Good Faith and Loan Estimates, as well as lender-paid versus borrower-paid fees. “There’s so much support with the wholesale lenders,” says Jason. “Coming in and not knowing anything, there are so many resources and support.” He quickly learned that the broker channel has more control than the retail channel. 

It was time to stop originating and start leading in August 2018. The business grew to 26 employees, including 14 Loan Officers. All of them are licensed by NMLS, and they each specialize in their specific fields, which allows them to focus on their strengths. 

Jason’s production levels for 2021 reached $200 million and 850 units. Most of his leads came from online. What sets you apart is getting the right service, culture, and execution, and a solid foundation and core are necessary to succeed. In addition, implementing the right tools, systems including an LOS, and tech stack will put you ahead. 

Notes: 

This episode is sponsored by EPM

The post From Retail to Wholesale: Starting and Leading a Mortgage Company – (With Jason Cecco) – Episode 101 appeared first on AIME.

Marc Summers and JP Hussey, host of Broker To Broker Season 1 and co-host of Season 3, celebrate the 100th episode of Broker to Broker. In this special podcast, Marc and JP review favorite perspectives and success systems from independent mortgage professionals. 

JP Hussey credits each guest for the advice and knowledge shared that helped grow the Hussey Team from just himself and his brother to a small broker shop. Marc is grateful for the Broker Owners who are willing to share their expertise in the wholesale channel. Favorite key takeaways from Broker To Broker include building a lead and referral base through YouTube, time management, organization that top originators apply each day in the mortgage industry, and how you can best serve and impact your local community. 

What will 2022 and Season 3 bring to the table? Guests will tap into how they plan to evolve in the ever-changing mortgage business. “It’s a changing market, and we’re in another one of those cycles,” says JP Hussey. It’s time to become more focused on the purchase game. Brokers “gotta get more creative with marketing, and help as many consumers the right way as possible,” notes Hussey. Marc Summers asserts, “If you’re a transaction person, you’re not going to last. But if you have that longevity to it, with a borrower for life mentality, you’re going to be fine.” 

With currently 25% share in the mortgage market, will wholesale take over banks in five to ten years? JP Hussey predicts big time. “Small business is coming back, big, everywhere,” says Hussey. “Consumers are supporting them more in local communities, and that’s who the consumer wants. Brokers are now held to more compliance and need to be transparent. So, I think the broker channel will grow by 50% within the next three years.”

Independent mortgage experts can gain a wealth of skillsets by tapping into the Brokers Are Better Facebook Group and opening an AIME Member Portal account. “Don’t be afraid to take from it, and don’t be afraid to give back to it,” says Marc Summers. JP Hussey thanks the group for saving loans and scenarios; it’s even allowed his team to pre-underwrite files. “You learn something new constantly,” Hussey adds. “Invest in this; it’s a great starting point to have people support you in a very, very tough industry.”

Listen now to find out the common traits top producers have, mortgage loan originators should be doing right now, how to keep team production moving during rising rates, and how to fully contribute to your local community as an independent mortgage professional.

Notes:

This episode is sponsored by PRMG.

The post How Independent Mortgage Brokers Can Lean on the Community for Success, Leads, and Market Growth (With JP Hussey and Marc Summers) – Special Episode 100 appeared first on AIME.

Hammer J. Helmer, former mortgage originator and founder of OriginatorSuccess, began his sales career selling vacuum cleaners. Hammer pursued a mortgage career after finding that an originator led him on while buying his first condo. In 2008, he fell victim to the housing crisis but eventually found a position as a Business Development Manager at a large corporation in California. After discovering that he didn’t like corporate America’s ‘red tape’, Hammer started OriginatorSuccess, which assists brokers with leads through Google and social media. OriginatorSuccess also offers free daily lock advice. 

Hammer’s thoughts on the Fed rate hikes? The mortgage industry will now see the effect on rate sheets because investors and markets are trying to stay ahead of the rate hikes. “They kind of quietly gave us a one-two punch because we knew the tapering was going to happen,” Hammer says. “We’re probably near some of the worst rates we’ll see this year.” Hammer also believes that we won’t see another housing crash due to the number of cash buyers and that consumers who are taking out mortgages are more qualified than before. Additionally, there is plenty of equity, allowing consumers the opportunity to consolidate debt. 

How can brokers succeed in 2022? “Sharpen your pencil and work on your sales scripts,” says Hammer. Brokers will need more flexibility, which is a massive benefit in a rising rate market. And, “increase your at-bats” with digital marketing. Embrace marketing your brokerage on social media, and opt for creating a Google Business Profile. Organic search traffic can obtain many quality leads and large loan sizes. 

Notes:

This episode is sponsored by Homepoint.

The post How to Approach the Rising Mortgage Rate Environment through Adaption and Lead Generation (with Hammer J. Helmer) – Episode 99 appeared first on AIME.

Todd Bitter, Branch Vice President of JKS Mortgage and a prominent player in the wholesale channel, has come a long way since the 2008 recession and his first stated-value loan at 1.25%. Known for his slogan, “Answer the Damn Phone!”, Todd has had a busy past two years. In 2020, Todd closed over 345 loans and originated $11,000,000 in volume, all self-processed and self-sourced. Thinking outside the box when it comes to advertising, Todd has tapped into the large local tech presence to win many of his leads.

JKS Mortgage, founded in 2000 by Todd’s friend Jamie Smith, has recently introduced a new Loan Officer, Adam Corley, who previously worked at AmeriFirst Financial in Phoenix. At the time, Adam only had eighteen months in the industry, closing 2-3 loans a month at best. After being under Todd’s wing, Adam now self-processes his own loans. “I would hit weird things on deals and say, now remember this, it won’t come up very often,” says Todd. “I would give him the refis and he would start working those, and it gave him the chance to really earn as he learned.” Todd also enrolled Adam in the UWM Success Track program. In less than a year, Adam closed eighty-one units in refis.

Todd has mastered the process of working with real estate agents. “[Brokers] go into a purchase transaction with a chip on their shoulder right away, expecting thatreal estate agent to be a pain in the ass, expecting thatreal estate agent to get in their lane, things like that,” says Todd. “I think it just goes to having the mentality of working with thatreal estate agent, knowing how to speak to them, and just setting the expectations, and if you have that setup, a purchase transaction is way easier.”

If the relationship is set up properly and the communication is efficient, thatreal estate agent becomes your LOA. When Todd emails a client for a bank statement or other document, and he is not getting a response, he will call thereal estate agent so that he or she can follow up with the client. In addition, Todd will establish the first point of contact with thereal estate agent – he doesn’t wait for the agent to call him first. Todd now hasreal estate agents copying him on emails to clients. “Open the lines of communication,” Todd explains. “Don’t be afraid to say no, and don’t be afraid to give bad news.”

Todd credits those that have given him 15 minutes here and there to help with his career. His advice to those that are new to the industry is to stay active in the social media platforms, especially the Brokers Are Better Facebook page, and to not only answer your phone but to always smile when speaking to someone on a call. “[People] can see your smile through the phone,” says Todd. He recalls the tough days during the 2008 crisis when he and his wife had to roll quarters from change to buy groceries. “Find that spot in your life that you never want to go back to, and use that as motivation. Find your ‘why’. If money is your only motivator, you’re not going to go very far with that,” adds Todd.

What are Todd’s 2022 mortgage predictions? As mortgage rates slightly rise, the big retail operations will back off the competition, and wholesale will continue to grow. “You’re not going to be competitive at 2.75%,” notes Todd. Todd also uses a comp cap to stay viable and generate more volume.

Todd plans on attending the Hall of AIME event in February to further network with other industry professionals and take advantage of the Mastermind Sessions and keynote addresses.

Notes:

This episode is sponsored by CF Wholesale and co-sponsored by First Look Appraisals.

The post How to Use the Right Mentality to Improve the Real Estate-Mortgage Broker Relationship, and Managing a New Hire While Self Processing (with Todd Bitter) – Episode 98 appeared first on AIME.

Fresh out of high school, Oklahoma Broker/Owner Nick Utesch was only closing about two loans a month. Now, with almost three decades of experience under his belt, he closed nearly 500 deals last year and is the Scotsman Guide’s Ranked #1 Originator of VA loans in Oklahoma, three years in a row. Nick plowed right through the Great Recession, stayed above 75% purchase through 2020’s Refi-boom, and will be able to succeed with rising rates. He attributes this success to a simple but long-term mindset. “Screen well when you start off so there are no surprises, deliver what you tell them, and close on time, every time…It’s simple stuff,” Nick says, “but it will take you a long way.”

Raised in rural Iowa, Nick had to work multiple small farm jobs to afford a stereo. After working a whole summer and coming up $1,500 short, Nick moped about until spotting an ad about a Discounted Note industry starter kit, including a guidebook and some tapes. Nick invested the few hundred dollars saved over the summer, using the knowledge learned from the tapes to help close his first deal at 14 years old. By 18, he opened a Brokerage and hasn’t looked back. 

Nick’s business was barely affected when the 2008/2009 crash and recession rolled around, aside from some longer wait times for houses on the market. He focused on Fannie, Freddie, and Government loans, with a specific niche in VA. He avoided Sub-Prime deals and made sure to make his purchase clients THE top priority.

Nick says going paperless since the early 2000s and having no physical office have helped sustain a low overhead and keep profit margins high. Still, his #1 tip for longevity in the Wholesale Channel is a purchased-focused mentality. No matter the rates, people are constantly relocating to new markets and expanding their families. Nick wanted to control his destiny and not rely on the cyclical nature of the mortgage industry. Take this recent refi-boom, for example. Nick only did 25% refi’s in 2020, and they were completely passive. He could’ve been more proactive and reached out to more clients about refinancing, but his service levels and standard for purchases would have dropped.  Purchases are time-sensitive and require more work, but if you deliver, perform to your best, and get things done on time, you will create a referral funnel that will last a lifetime. “You don’t need to sell yourself if you can prove yourself,” Nick says. 

Until this year, Nick was a one-person shop with a single outsourced Contract Processor. With the recent influx of business, Nick has added on four LO’s, but that is almost exclusively to allow Nick a proper work/life balance. His team members request the initial disclosure package and pull together doc requests from clients. Not clearing conditions and hunting down docs all day long frees up Nick to focus on pre-quals and staying top-of-mind with clients. And even with the entire team, Nick still originates 95% of his brokerage’s volume and never misses a closing.  

Nick closes out the podcast with some vital but straightforward advice that all mortgage brokers should adhere to; invest in yourself and treat people right. Watch webinars, stay updated with market changes, and stay compliant. Treat every client with the same amount of respect, whether it’s a $750,000 or $150,000 purchase. Nick even mentions an AIME and Brokers Are Better favorite: answer your phone. “It’s simple stuff, but it will take you a long way.”

Notes:

This episode is sponsored by REMN Wholesale.

The post Long-Term Thinking: How To Build A Purchase-Focused, Recession-Proof Mortgage Brokerage (with Nick Utesch) – Episode 97 appeared first on AIME.

California Mortgage Broker Joe Green is The Little Engine That Could. After first going independent just before the ’08 market crash, Joe is back but had to start from scratch. He went from buying leads with an end goal of four loans a month to becoming a 100% referral-based business averaging twelve loans a month. He doesn’t credit his success to anything crazy. Just be there for your client, communicate clearly, and always strive to do everything you can to help make their life easier. If you do this consistently, everything will accumulate. You don’t need to take leaps and bounds; take everything step by step. 

Returning to the Wholesale Channel in 2013, Joe didn’t find his footing right away. It took him 18 months to get going again. Joe claims that the slow ramp-up was his biggest hurdle, but he wouldn’t give up on himself. He sent out mailers, bought leads, and sat through many coffee appointments. But most importantly, when leads became opportunities, Joe made sure to communicate clearly and concisely with everyone. Clients and realtor partners want to be updated whether you have good news or bad news; nobody wants to feel out of the loop. 

Slowly but surely, by doing right by every customer during every transaction, Joe built a book of business based entirely on referrals. Instead of ignoring realtors during the 2020 refi-boom, Joe made sure to stay top-of-mind with his partners. Refis are easy, “but you pay the price in the long run,” Joe says. If you aren’t active in purchases now, you won’t have any relationships when the rates rise again. Joe shares a great example where a deal fell through with a small builder in his local area. Instead of moving on, Joe stayed in touch and was the first person the builder went to when his duplex tenants wanted to refinance. 

“I have a simple motto,” Joe shares, “help people get things done.” Want to redo your bathroom? Joe’s got a guy. Need a financial planner? Joe can send you a reference. Help people with no motive other than providing a service, and the “universe just ends up taking care of you.” Joe shares one last piece of advice by disputing a common saying. “You know that saying that you can’t teach an old dog new tricks? It’s a lie.” Just listen to people, understand you still have a lot to learn, never stop growing, and stay enthusiastic. 

Notes:

This episode is sponsored by EPM.

The post How To Go From Buying Leads to Sustaining a 100% Referral Based Business Through Building Trust & Communication, One Step At A Time (with Joe Green) – Episode 96 appeared first on AIME.

Aaron Hinson is the epitome of what it means to be an independent mortgage broker. He runs a small team in a quaint town and is an involved community member. Aaron allows his clients the time and space to share their stories to personalize their loan process effectively. Hiring a small staff enables him to reinvest in his local community. In this episode of Broker To Broker, Aaron explains the steps he takes to succeed, reassuring that while it can take time to see success in this easily overwhelming industry, you only have to take one action at a time.

Enjoying his life as a restaurant worker in college, Aaron eventually took his people skills to the mortgage industry. After learning from the retail side of the industry for a few years and becoming frustrated with the roadblocks and lack of freedom, Aaron transitioned to wholesale. “No matter how hard I tried, someone else was always in my way,” Aaron says. Having more control and hands-on experience allowed for a more seamless process, allowing Aaron to be his true authentic self. 

Aaron’s transition included communicating more effectively with his clients. Instead of following a script or pushing the only products his bank offered, Aaron was now free to perfect his processes and procedures. “People can smell trust and intentions,” Aaron says. Aaron made it his number one goal to understand his clients. He pulls out a notepad or opens a Word document, and he asks questions including: 

“I just shut up and listen,” Aaron explains. 

People will tell you what they want; you have to listen. They might have heard something about mortgages before, and they may have done some research on it. Just tell them that you’re all ears, and the progression from this point on will be more human. From here, do what makes Brokers Better. Use your expertise and freedom to personalize their loan. Use your experience to dial it into a product or financial solution that will fit them best. Let them get out what they want by opening the door.

With success comes responsibility, and as the duties kept piling up, Aaron realized he couldn’t do right by his clients or grow without a team. A new Contract Processor took the most time off his plate, but hiring a new LO and LOA has also been beneficial. And although this might sound counterintuitive in saving time, Aaron suggests hiring green employees. There is a lot of work on the front-end; answering questions, shadowing, and screen-sharing. Have them read the guidelines, but be the translator for them. Aaron took about eight months to train a new hire fully, but he affirms it has all been well worth it. In the selection process, look out for those that seem passionate and personable. Create a welcoming environment where team members can ask questions, and your employees will be beneficial and loyal. 

Aaron’s recommended Xinnix LO and LOA training goes a long way as well. The time commitment is the biggest hurdle. Just believe in the individual, and although it might not always come naturally, you have to do your best to have a long-term mindset.

Another colossal time-saver for Aaron is a proper tech stack, which Aaron utilizes to focus on his weakness, social media marketing. It’s always a work in progress, but a combination of Wikirealty, Flowify, and MBS Highway have helped him fill the gap. Sixty seconds here and sixty seconds there go a long way. 

Aaron uses all this extra time to be an active community member. He is a member of Court Appointed Special Advocates (CASA), a Board Member of the Tahoe Regional Young Professionals group (YPN), and a member of SOS Outreach, an organization helping at-risk youth experience the outdoors. He also teaches life skills at a secondary high school, like successfully using a credit card. Having his mentors to look up to has inspired Aaron to guide others. 

And while getting leads is not his primary concern, being active in his community does benefit his business. For the same price, your logo can sit next to that of a big bank on the sponsorship board in the outfield of a little league field. If you’re also volunteering, it completely separates you from the banks and humanizes an uncompassionate industry. “You get as much back as you give,” Aaron says. “Anything that keeps us balanced keeps us whole.”

Aaron’s parting advice is nothing new for most wholesale mortgage brokers, but it never hurts to be reminded; always put the consumer first and don’t give up. Focus on making their life better, talk about how and when it’s best for them, and try to do everything you can to knock it out of the park. And while Aaron had a lot of doors shut in his face when he started from scratch in a new town, he kept pushing and believing in himself. At the end of the day, as long as you keep moving, you’ll be the only one left standing. 

Notes:

This episode is sponsored by PRMG.

The post Community & Authentic Communication: What It Means to Be An Independent Mortgage Broker (with Aaron Hinson) – Episode 95 appeared first on AIME.

Arizona Broker/Owner Shawn Malkou is a professional YouTuber with tens of millions of views. Making six figures from YouTube before even graduating college, Shawn has years of experience to share. Shawn discusses how video marketing can enhance the background of your existing clients and help you develop a special bond with potential referrals before ever shaking hands or picking up the phone.

Starting out making and streaming video walkthroughs for children’s games such as Minecraft and Roblox, Shawn graduated college with a career, but he didn’t want to do that for the rest of his life. After being recruited while coaching beach volleyball part-time, Shawn brought his passion and knowledge for YouTube to the mortgage wholesale industry. 

YouTube is an incredible tool at a mortgage broker’s disposal, but few have unlocked its true potential like Shawn. Just like Facebook and Instagram, YouTube can bring new eyes to your product. Still, unlike other social media platforms, YouTube is the perfect place to build better relationships with your current customers as well. “Everyone tries to do it backward. They start YouTube to try and get business when that’s the opposite. You want to start YouTube to improve your existing business.”

Home loans are a confusing and intricate process. Whenever a borrower asks a question or seems confused, write it down and make a video about it. Shawn has produced videos such as “What does this mean on an LE?”, “What does the trade cooling-off period mean?” and “What’s APR?”.  Some parts of the process cannot be explained over the phone or translated well through email. Shawn will save hours by having ready-to-go videos available for clients past, present, and future to avoid meeting in person for one-on-one walkthroughs.

Shawn also shares tips for those reluctant or stressed about getting the video gear or being comfortable in front of the camera. Don’t worry about looking silly or the equipment; just focus on the content. Go out to help people, and success will follow. “YouTube is where people come to learn,” Shawn says. 

As long as the content is educational, it doesn’t matter how long your video is. It can take years to get entirely comfortable in front of the camera, so try and focus on getting a little bit better every day. Ask friends, family, and clients what they liked or didn’t like about a particular video, and make adjustments for the next effort down the line. Eventually, you’ll have an entire catalog of content that acts as an organic referral funnel. Clients will share with their friends and family how beneficial your YouTube videos were during their experience, and potential homeowners will find your content and go out of their way to seek you out. 

The bottom line, YouTube is just another way to show why Brokers Are Better. You get to lean into your individuality and build a bond with homeowners that they can’t get with big bank call centers. YouTube can be an automated marketing tool that bolsters every aspect of your business; however, it requires the same care and respect as processes, procedures, and pipeline management.  And while it can be easy to get overwhelmed, Shawn suggests keeping it simple. “Take your phone, turn it sideways, hit the record button, and you’re going to get phenomenal videos people are going to watch on YouTube.”

Notes:

This episode is sponsored by Homepoint Financial.

The post YouTube 101: How To Forge Trust & Build An Automated Referral Funnel At The Same Time (with Shawn Malkou) – Episode 94 appeared first on AIME.