Broker to Broker Archives - AIME

This episode is sponsored by Fuse National Conference 2024

In this spirited episode of Broker to Broker, host Marc Summers learns the business benefits of selflessness & support from the Senior Loan Officer at Open Door Lending, Kristin O’Neil! 

Kristin shares her invaluable perspective and strategies, from a career that has seen the best and worst the industry has had to offer. She joined the wholesale channel just two months before the crash of 2008, and has become more resourceful and resilient for it. 

Kristin exemplifies why brokers are such an invaluable resource for their community, as she shares her expertise with assisting Self-Employed borrowers, how the worst of 2008 helped us learn to better serve the current market, and how to get the most out of your local community, and the broker community, through selflessness:  

“Brokers have such a great, great community. I can’t say enough, it’s opening doors to things that you would have never done or pushed yourself to do before, like, being on a podcast or being interviewed by MPA, or meeting your congressman. That’s just something I would have never considered doing. It’s pushed me outside of my comfort zone in so many ways. And I think that’s really where you grow, when you feel uncomfortable. When you’re scared, that’s where you see true growth.” 

Kristin states “a few years ago, I started to pay attention to the people who were really excelling, and they were all the people who have an honest abundance mindset, about giving without expecting anything in return. I think that’s 100% true. It’s never tit for tat. All the friends that I’ve met through AIME are people that I could call, like any of my best friends, with any question. We just happen to do the same thing as a job.I can think of a dozen people I could call with any question, and they would answer it without hesitation. And I do the same. So if I’ve recently worked with a new partner or tried a new program, I try to share as much knowledge as I can because honestly, it comes back tenfold.”

Key Points:

3:41 – Entering Wholesale in 2008: Timing and Fallout

9:41 – 2008’s Market vs. 2024’s Market

16:46 – Servicing Self-Employed Borrowers

22:11 – Joining the Broker Community

26:09 – Make the Jump: Attending Fuse & Other Broker Events

The post Generosity at Work: The Link Between Selflessness and Success (With Kristin O’Neil) – Episode 188 appeared first on AIME.

This episode is sponsored by RCN Capital

This is an instant classic episode that has been a long time coming. Learn how to step up your game as a broker, educator, leader, and marketer as host Marc Summers is (finally) joined by Mike Cox, CEO or Mortgage Nerds.

During this episode, MIke references & recommends these two essential books for the broker community to purchase and read:
Chop Wood, Carry Water – Joshua Medcalf
ReThink Everything You Know About Being a Next-Gen Loan Officer – Kyle Draper, Brian Vieaux, feat. Mike Cox

Mike left his two decade-long retail career to become a beloved wholesale community member within just four very productive years. Mike is an AIME leader, a Fuse speaker, marketing guru, and a leading force for VA program and homebuyer education. Mike is more than happy to share his proven advice & strategies for stepping up broker marketing, organic lead generation, network growth, and of course, the best places to find cheese curds.

Mike shares the exact approaches that have worked in making himself two of the most important things in the wholesale industry: memorable, and reliable. Making yourself a valuable resource to your network and homebuyer peers, and making yourself just as memorable with those same people, so you can add them to your network and pipelines.

Mike shares his favorite strategy for this: “I have a metal business card and it looks like a flag. And the back of it, it says our slogan for Veterans: ‘We love our vets every day.’ So, it’s not just Memorial Day and Veterans Day where everybody celebrates Veterans. We celebrate Veterans every single day. So let’s say you’re at an event and there’s ten other lenders there, and everybody hands you their cards. I just hand mine over. I don’t say a word. Yet, 100% of the time, whoever I give it to, they look at me and go, ‘this is the coolest card I’ve ever seen in my life’. People ask ‘why do you do this?’ I say it’s because I know that you won’t throw this card away, and I want you to know how much we care about our Veterans. Now, if you ever run across a Veteran, you tell them that they need to call us because we are the best option for a Veteran, right? It’s a strategic, intentional, thought. So I don’t have to wedge my VA niche into conversations and go, ‘Well, hey, you know, we do great work for Veterans.’ People ask me, instead of me needing to tell them. You know, these cards aren’t cheap, but they’ve gotten us tons of loans”

Key Points:

1:05 – Intro to Mike & Starting in Mortgage

7:14 – Joining Wholesale 60 Days Before The Pandemic

9:51 – Mortgage Nerds & VA Loans

19:57 – The Value of Making Yourself Memorable

29:07 – Advice for New Brokers & The Broker Community

The post Education is Everything: Marketing, Client Education, and Wholesale Recruiting (With Mike Cox) – Episode 187 appeared first on AIME.

This episode is sponsored by The Loan Store

This episode, we flipped the format. For the first time this year, the show goes from ‘Broker to Broker’, to ‘Broker to Processor’ as host Marc Summers is joined by beloved wholesale community member, and the CEO of Coastal Breeze Processing, Cheryl Dempsey.

Though she is a Processor, Cheryl is one of the most active and selfless members of the Broker community, setting the example by putting so much of her time and efforts towards supporting her Broker peers across the country. She takes this energy back to her own work with her Processing Company, Coastal Breeze. She shares how she entered the industry due to how rewarding it was to selflessly work with clients to find success in her business, and upon scaling up her selfless business model, is now experiencing the rewards of growth and leadership.

Cheryl also breaks down everything Brokers should know about Processors: the Processor pipeline, client outreach, when to hand off client files and assistance, and much more. Cheryl speaks to the Broker community directly, giving the tips on how to best collaborate and utilize the Processors they work with and get the most out of their working partnerships:

“Everybody’s first instinct is to go to Optimal Blue and check rates. Then, it’s locating picking the Lender with lowest rate, because that’s kind of what we’ve been trained to do. I would say, instead, work with your Processor. Talk to your Processor. Walk through the loan. Tell us the avatar of that client, what the pain points are. Is it self-employment? Do we need gift funds? Is it a DPA? Let us help you find a good home for that, because it’s not always about the rate. It’s about that client’s experience. Getting them a slightly lower rate via a miserable loan process isn’t it isn’t serving your clients. So let us work with you, and help guide where that possibly can go for newer loans. Once you know who you want to work with, and which systems you like, now is when we’re here to help. We’ll support you on the back end. For new Brokers, really lean into the advice from Processors, because we’ve worked in all of those systems, we’ve seen it all. We banged our heads on the walls with underwriting. We know which lender is going to take what, and we can help make the best experience for your client.”

Key Points:

1:48 – Entering Wholesale, and Current Growth Initiatives

6:50 – Starting a Processing Company

9:02 – Leadership: You Can’t Do Everything

11:54 – The Broker/Processor Dynamic

21:21 – Wholesale Mindset: Doing what Retail Can’t

The post The Loan-Processing Mindset: Selflessly Doing What Retail Can’t (With Cheryl Dempsey, CEO of Coastal Breeze Processing) – Episode 186 appeared first on AIME.

This episode is sponsored by RCN

Season 4 of Broker To Broker is officially in full swing, as host Marc Summers is joined by the President and CEO of Summit Lending, Darren Copeland. In this episode, Darren graciously shares a comprehensive coaching on how to recruit, train, empower, and equip your staff as you grow your mortgage business, giving the exact details that helped make him a top loan originator. 

Darren shares and breaks down his leadership, training and coaching philosophies that he’s gained from nearly 20 years in the mortgage industry. After working in the retail channel for a decade, he joined wholesale to start Summit Lending. Within five years, Summit has grown from a husband and wife duo, to one of the top brokerages in the country, expecting a staff of 50 LOs, representing ~20 states by the time you’re listening to this episode.

Darren lays out everything a leader in a brokerage needs to know: What tech stack he uses. How to reach out to potential recruits or members of your network. How to generate leads. How to set up a pipeline for your leads. How to naturally market and grow your business. And, most importantly, how to be an effective leader once you’ve set all these pieces in place:

“There was one thing that I had to do when building Summit Lending into a true company; I had to get better at leadership and organization from a 30,000 foot-high view, because I’m not great when it comes to details. I knew we had to do a better job of communication, so I had to become a master of delegation. First, make sure whoever you have on the staff, are the salespeople who can go out there and sell.” Darren shares “We have one non-negotiable thing here at Summit Lending, it’s called the ‘ABC rule,’ which is ‘always be cool.’ I know it sounds simple, right? But man, there’s just no room for people to be jerks or to keep everything to themselves. Everyone here is sharing an abundance mindset. People with abundance mindsets? They collaborate. People with smaller mindsets? They compete against each other. So ,it’s all about lifting each other up, especially after the last year with this crazy market. Make sure you mutually support the people that are on your side.”

Key Points:

4:00 – From Husband & Wife, to 50 LOs in 20 States

7:47 – The ABC Rule

13:48 – Tech Stacks, Recruiting, and the Vital 5-Star Review

24:51 – Referral Pipeline & LO Training

27:48 – Routine, Delegation, and Supporting Your Pillars

Darren shares and breaks down his leadership, training and coaching philosophies that he’s gained from nearly 20 years in the mortgage industry. After working in the retail channel for a decade, he joined wholesale to start Summit Lending. Within five years, Summit has grown from a husband and wife duo, to one of the top brokerages in the country, expecting a staff of 50 LOs, representing ~20 states by the time you’re listening to this episode.

Darren lays out everything a leader in a brokerage needs to know: What tech stack he uses. How to reach out to potential recruits or members of your network. How to generate leads. How to set up a pipeline for your leads. How to naturally market and grow your business. And, most importantly, how to be an effective leader once you’ve set all these pieces in place:

“There was one thing that I had to do when building Summit Lending into a true company; I had to get better at leadership and organization from a 30,000 foot-high view, because I’m not great when it comes to details. I knew we had to do a better job of communication, so I had to become a master of delegation. First, make sure whoever you have on the staff, are the salespeople who can go out there and sell.” Darren shares “We have one non-negotiable thing here at Summit Lending, it’s called the ‘ABC rule,’ which is ‘always be cool.’ I know it sounds simple, right? But man, there’s just no room for people to be jerks or to keep everything to themselves. Everyone here is sharing an abundance mindset. People with abundance mindsets? They collaborate. People with smaller mindsets? They compete against each other. So ,it’s all about lifting each other up, especially after the last year with this crazy market. Make sure you mutually support the people that are on your side.”

The post Mortgage Leadership Mindset: Finding the Right Talent, and Delegate  (With Darren Copeland) – Episode 185 appeared first on AIME.

This episode is sponsored by Windsor Mortgage

It’s the Season 4 premiere of Broker to Broker podcast, and we’re kicking it off from the top! Host Marc Summers is back, joined in a momentous conversation with none other than the CEO of AIME, Jonathon Haddad. 

In an episode that becomes an important moment for the broker community, Jonathon very honestly and candidly addresses the current headlines and events taking place within our industry. Nothing is off the table as Jonathon discusses becoming AIME CEO, tangibly supporting the broker community, current issues within the housing industry, and the looming UWM lawsuit, the threat towards brokers everywhere. Jonathon calls the broker community to action to defend, support, and empower themselves & each other, by doing what only brokers can: making homeownership possible for as many people and communities as possible. 

Jonathon goes into further detail of how he and AIME are fighting for the entire wholesale channel:

“AIME is going to extract HMDA data to show you exactly the truth, the real truth about these lawsuit charges, about consumers, and show how much better they are with a mortgage broker. We’re going to fight this with real data, real education, and we’re going to make it very difficult for people to point the finger back at our channel.”

While discussing these high-level issues, Jonathon doesn’t lose sight of consumers, taking time to acknowledge struggles for current homebuyers. Jonathon emphasizes how invaluable homeownership is for so many groups of Americans, relating the current market back to his own personal experiences growing up, and breaking down why it’s important to never lose homebuyer empathy, as it’s a broker’s duty to assist homebuyers in need, so everyone can achieve homeownership. 

While Jonathon discusses tangible efforts, benefits, and resources he’s sharing and providing to the broker community, he iterates that he, and the rest of the broker community are personally there for support:

“You’re a member of our community. Surround yourself with winners. You already know who they are. You already know there’s people dominating in your market, who are more than happy to help you. Find those people, get away from all the noise, and focus on what you can control. The more you do that, the better you will be long term. And that’s what I have is a message to the entire community.”

Key Points:

1:26 – Transitioning into AIME Leadership

3:41 – The Renewed Vision for AIME

9:56 – Homebuyer Awareness Week: Making it Personal

17:01 – UWM’s Class-Action Lawsuit: Defending Brokers with Qualified Data

22:29 – Wholesale’s Call to Action: Serving Consumers as Only Brokers Can

The post Thriving and Surviving: Strategies for Every Mortgage Market (With Jonathon Haddad) – Episode 184 appeared first on AIME.

This episode is sponsored by Fundloans

In this episode, host JP Hussey is joined by Joanne Russell, Broker Owner of the Mortgage Place.

Joanne has been a champion for the Broker channel for 25 years. She’s seen all of the ebbs and flows that the mortgage industry could possibly offer; though she’s been a broker since 1997, she’s been in the mortgage industry for 35 years. She was early in her Wholesale career when Black Monday happened. She persevered as a Broker through the 2008 crash. She helped the channel during its rebuilding period and helped restore the good name of Brokers through the 2010s. She had firsthand experience of the dysregulation 2020 had on the mortgage industry, as well as the rebound year that 2021 was for homebuyers and Brokers alike, all leading into the market we’re experiencing today.

Joanne’s experience makes her wealth of knowledge, wisdom, and perspective on all forms of mortgage markets, especially as Brokers everywhere are preparing for the coming year. Joanne shares how to persevere through the tougher markets, and how to capitalize on the markets when they’re strong, to bolster your business through thick & thin markets and become resistant to the changes. 

While Joanne has empowered Brokers since the 90s, she also has an amazing knack for empowering agents and homebuyers regardless of the state of the market. Her secret? Education:

“You can’t make the market. You can’t force people to sell houses and you can’t force people to buy them. So, the best thing that you can do is educate the community you do business with. Whether it be realtors or consumers, directly get them educated. Educate yourself. Take this time to really hone your craft and really understand how to put a deal together. Know what makes Brokers so valuable, especially when compared to somebody who’s just answering a phone at a bank or a retail shop. Really know all the ins and outs, even if you have to make a niche of what you’re doing, whether it be government loans or renovation loans, just make sure you take this opportunity to really learn. Go back to basics. None of us are above going to an open house on a Sunday to go introduce yourself and see if you can help a realtor out and in turn meet some buyers. All of these things will help you get through these months or maybe even a year until the market improves.”

Key Points:

1:00 – 35 Years in the mortgage Industry, 25 years in the Broker channel

5:12 – Taking care of the consumer

13:14 – “Weathering the storm” and surviving changing markets

21:03 – The Agent / Broker dynamic going into 2024

24:50 – Empowering first-time homebuyers with education

The post The Key to Survive? Take Care of the Consumer (With Joanne Russell) – Episode 183 appeared first on AIME.

This episode is sponsored by Windsor Mortgage

In this episode, host Marc Summers refines his outlook, updates his business model, and streamlines his processes & procedures as he’s joined by David Kakish, Producing Branch Manager at C2 Financial.

David hasn’t been a broker for long, having started just last year; but his 15+ years as a pastor with a knack for finance proved to be an invaluable background for a career that is already making big splashes in the wholesale industry.

David has masterfully broken down how to streamline your operations based on your strengths and niche, how to make yourself available to clients both old & new through smart shortcuts and clever automations, and how genuinely doing the right thing by your clients, even when at what seems like a loss at the time, leads to long-lasting relationships. 

David is a master of breaking down all-encompassing concepts and outlooks into granular, easy-to-identify steps: “Think of three adjectives that you want people to think of when they describe your business. The way you do your work, the way you communicate, your messaging, your content, and all communications. Pick three. And then filter everything you do through those three. Consider statements like ‘I’m going to save you money’, or do you want to be the education guy? Do you want to be the niche expert? You can’t be or do it all. So, what are the three things you want to be known for? Keep that on the forefront and let those be the filter. You shoot bullets before cannonballs. I’ve tested everything. I’m watching everything, looking for feedback mechanisms. Is this getting views? Is that getting traction? And so you shoot bullets, and when you find something that rips holes consistently, that’s when you fire your cannonballs.”

Key Points:

2:03 – The Transition from Pastor to Broker

8:05 – Offensively Coordinated Processes & Procedures

11:14 – Automating New Leads into Your Pipeline

18:18 – Marketing & Communication

24:22 – Doing the Good you Ought to Do

The post We’re Farmers, Not Hunters – How to Become a Client’s Lender for Life (With David Kakish) – Episode 182 appeared first on AIME.

This episode is sponsored by Change Wholesale

In this week’s episode, host JP Hussey is inspired as he’s joined by Fadi Sankari, Broker Owner & President of Best Rate Mortgage.

Fadi is an entrepreneur through and through, inhibiting the ‘entrepreneurial spirit’ in everything he does. Throughout the episode, he reminisces about many failed business ventures before he entered into Wholesale mortgage, where he’s now a top 1% originator. He says he remained driven and found his success in the pursuit of satisfying the ‘why’.

Fadi breaks down his notion of the ‘why’, and how it’s essential for anyone running a business to identify as soon as they can: 

“If you’re coming into the industry because you want to make a bunch of money, that’s okay. But, if that’s the only reason, then I would ask you to reconsider why you’re really doing what you’re doing. So, I focused on ‘the why’ for a long time before I made that decision. You really have to go back and ask yourself, ‘what are you doing?’ My ‘why’ is multifaceted. I’ve always had an interest in math & finance. I’ve always had an entrepreneurial kind of spirit. Again, all those failed businesses I mentioned to you. But I wanted to make a positive change. I wanted to create a business that wasn’t overcharging or taking advantage of people. You know the saying ‘the integrity of a man is what he’s doing when other people aren’t looking?’ Since day one, I started with a fair and a very competitive plan. And even though I’ve gotten busier, and we’ve become a top 1% originator, I have not changed that plan, because we haven’t had to. We don’t compromise. We charge fair rates because we’re providing excellent service. So, start with ‘the why’ and build on it. My ‘why’ is to be fair when a lot of people in this industry, unfortunately are not.”

Key Points:

2:18 – Day One Energy & Finding Your Why

12:19 – Previous Ventures & the Decision Enter Wholesale

16:58 – Strategy for Current Markets: Developing Relationships

22:02 – Warm Outreach & Building Your Network

28:43 – Finding Your Niche in the Mortgage Industry

The post Find Your Why: How to Establish Your Place in the Mortgage Industry (with Fadi Sankari) – Episode 181 appeared first on AIME.

This episode is sponsored by RCN Capital

In this special Salute To Service: Veteran Advocacy Week episode, host Marc Summers gets a comprehensive breakdown of how to become a VA expert, as he’s joined by Fuse VI Panelist, Elizabeth Cassidy, Mortgage Broker with Future Home Loans.

Elizabeth was a highlight for Fuse VI this year, as her statements garnered a few standing ovation moments while she was contributing as a panelist during the headlining session “From all Branches: Ask the VA Experts” from Fuse’s VA Summit.

In this VA-themed episode, Elizabeth gives you the who, what, when, why and where of the VA program. Elizabeth breaks down how to get started in your VA education, where to find resources and community for support, and why it’s important to take responsibility for your knowledge and skillset to do right by the Veterans in your community.

Elizabeth is a wealth of VA knowledge & resources, and is a breath of fresh air, as she doesn’t mince words when telling the real estate, housing, and mortgage communities what they need to hear when it comes to supporting Veterans. 

“The question that you need to ask everyone involved in this VA loan is ‘why was that Veteran good enough to die for you, yet they weren’t good enough to buy this house?’ or ‘Why are they good enough to die for you, but they’re not good enough for you to accept their letter of explanation stating that X, Y, and Z happened?’ I promise you, they’re good people. They deserve the house. I’ll flip a table or two to make sure that that happens.”

Elizabeth also breaks down the industry-wide stigmas that surround VA loans, by naming where these misconceptions started, and immediately de-bunking them with substantiated information. 

Elizabeth has made herself available to our community as a resource, and lets those who can do more to support Veterans know, that the buck stops with them: 

“There’s plenty of resources. Ask questions on the Brokers Are Better Facebook group. Sign up with Vetted VA. Connect with your State Captains, or even try starting with YouTube! If I hear people that tell me ‘I just don’t know anything about VA!’ well, I want to hear what you’ve done to try to learn.”

Key Points:

1:22 – From Air Force, To Real Estate, To Broker Channel

4:59 – 500 Closings in 3 Years and The Jump to Wholesale

9:34 – Becoming a VA Expert, Educating the Community

21:02 – Starting Your Own VA Education

25:32 – Attending Fuse for the First Time

The post The Business of Helping People: Using Existing Resources to Help Veteran Homebuyers (With Elizabeth Cassidy) – Episode 180 appeared first on AIME.

This episode is sponsored by AFR Wholesale

In this episode of Broker to Broker, host Marc Summers is joined by Fuse VI panelist Jessica Wells, Broker Owner of Clear Choice Mortgage.

Jessica proves her expertise, and why she was a Fuse panelist this year, as this episode is full of nuggets of wisdom that immediately could be applied to a Broker’s marketing, outreach, and pipeline to improve overall operations.  

Jessica has a background of experience; she started in the industry at a very young age, thrown into the deep end of processing, tasked to figure out the process on her own. Quickly, she became skilled enough to be headhunted into a brokerage, eventually becoming a Broker Owner herself.

Now, she utilizes her experience & knowledge to stay ahead of industry trends, as she’s now finding interesting ways to engage and educate her clients, utilizing AI, and using tools to make note-taking, operations, and outreach that much easier. Most notably, she noticed how people always turn up for a bingo game, so she saw that as an opportunity to entice her borrowers to receive a comprehensive homebuying education:

“People love bingo! You mention it, and the people show up. So, I have this class; we found a bingo card generator and used the words & terms from my class’s slideshow as the bingo squares. So, a word like ‘entitlement’ is one of them. I have all the terms on the bingo board, and they’ll mark it up throughout my class. We’ll usually hold it at some local brewery, and then the first three winners get a six-pack or whatever it is that brewery offers. But even after we go through our first three winners, there are people that are like, ‘So if you have a house already, what’s it called when you buy a second house?’ because one of the words on there is ‘bonus entitlement.’ And so they’re asking and they’ll pick questions to just make us explain these terms. So it makes it very interactive because people are playing a game, but even when everybody else has already won, they’re like,’No, no, I got to get a bingo before we’re done with this; I need to know the answers to all these questions!’ So if I missed something in the class, and I don’t say one of the words I’m supposed to say, they’ll sit there and ask me the questions until I say every word on the board.”

Key Points:

1:18 – Starting in the Industry ‘In the Deep end’ at 19

6:13 – Bingo for Homebuyer Education

10:14 – Processor Tips from Ex-Processors

20:24 – Speaking & Attending Fuse VI

26:54 – Why Wholesale Professionals Can’t Miss Fuse

The post Creative Homebuyer Education: Adapting to the Changing Mortgage Market (With Jessica Wells) – Episode 179 appeared first on AIME.