Secrets of the Secondary Mortgage Market: How Abby Shemesh Transformed Crisis into Opportunity

Amerinotexchange.com

About the Guest(s):

Abby Shemesh is the co-founder and managing partner of Amerinote Xchange LLC, and the CEO of Amerinote Capital Funding, LLC. With an extensive background in the secondary mortgage market since 1999, Abby carries a vast experience in handling high-volume and high-ticket mortgage portfolio purchases. His journey started in the primary mortgage market before transitioning to secondary markets in 2006, where he has excelled. Abby is an autodidact, having self-taught himself various business, material, and spiritual disciplines, marking a significant career with an emphasis on self-improvement and education.

Episode Summary:

In this episode of The Chris Voss Show Podcast, host Chris Voss welcomes Abby Shemesh, a pioneer in the secondary mortgage market, to discuss his entrepreneurial journey and insights into mortgage trading. Abby, with his rich background, paints a vivid picture of how he navigated the tumultuous waters of the mortgage industry, especially during the 2008 financial crisis. Listeners can expect to learn about Abby's strategies for surviving economic downturns, the intricacies of mortgage trades, and the essential role of digital marketing in sustaining business growth.

Abby Shemesh dives into the nuances of the mortgage buying and trading business, describing how Amerin Note Exchange serves both retail and institutional clients by providing liquidity in the mortgage market. He outlines the significance of digital marketing in his company's success, recounting his transition from traditional to digital strategies which fueled growth during challenging times. With a remarkably high closing ratio of 96%, Abby reveals the secret to successful mortgage trading while sharing personal anecdotes that highlight his resilience and entrepreneurial spirit. This episode is a treasure trove of insights for aspiring entrepreneurs and those interested in the mortgage industry.

Key Takeaways:

Surrounding Business Landscape: Abby explains how the secondary mortgage market thrives on providing liquidity, describing the roles banks and private lenders play.

Entrepreneurial Resilience: Abby shares how his father's work ethic and his own determination enabled him to pivot successfully during the financial crisis.

Importance of Digital Marketing: Digital marketing was crucial to Abby’s business survival and growth, even outperforming traditional marketing strategies.

Unique Sales Proposition: The company’s approach includes options like partial loan purchases, which cater to unique financial needs of clients.

Market Insights: Abby discusses how economic trends, like those in 2008, directly influence the mortgage market and its players.

Notable Quotes:

"We provide liquidity to the secondary mortgage market to keep the Ferris wheel going round and round."

"We really take for granted in this country the ease in which one can go down that entrepreneurial journey."

"It was the digital marketing that really supercharged our success."

"The last thing we want is properties; we want the paper, not the bricks."

"I learned a lot from my father's mistakes… his experiences."