New Loan Originator Training Guide Jump Start

NEW LOAN ORIGINATOR

TRAINING GUIDE

HOW TO START A DATABASE

that pays year after year

STAT REPORTING know your efforts and excel

SCRIPTS & OBJECTIONS TOP 10

WORKING FSBO’S Refer the Realtor!

METHODS TO GETTING STARTED

Mortgage Planner Training Guide This booklet is designed to be a reference guide to Loan Partners and Loan Consultants in obtaining the basics marketing methods in our company. It uncovers tools for Loan Consultant in finding more business and the structure to do it.

The one key to master in the sales mortgage business is to implement and be held accountable to maintain your systems and structures.

Remember to implement one thing at a time by “turning the key” method (not changing the details).

These methods are purposed under the “bigger pile principal” why change success?

Mortgage Planner Training Guide METHOD NO. 1 Developing your database is one of the biggest keys to many top professionals in sales. I can truly say that it has made me thousands and has become a residual income.

Step One Gather as many names, addresses, e-mails, and phone numbers of family, friends, prior co-workers, leagues you belong to, church, spouses co-workers, groups you belong tom anyone you know! 200 should be your goal when first beginning to market.

Step Two Set up an ACT database that has custom fields that you can enter; appraised value, loan amount, interest rate, loan type and hobbies if you prefer. (Other software: All Clients or Top of Mind)

Establish Groups- have “groups” designed in your database for sorting and mailing purposes the suggested groups are; realtors, past clients, current clients, business partners, friends and family, top 150 and vendors.

Step Three Enter all contacts and group accordingly.

Step Four Prepare an intro letter to all of them informing them that you are now in the “mortgage business” and you could use their help from them by referring business. Have a headline such as “I could really use your help” or “I can’t believe all I’ve learned” Let them know you will be contacting them in the next couple of weeks in the letter. Mention some of the products that you think will catch their attention.

Always end your letters and postcards with or some variation of;

Mortgage Planner Training Guide ”PS. I work on a referral only basis and could always use your help when it comes to finding great clients, if you know of anyone please call me I will take great care of them.”

Never be afraid to ask for help. Many clients, friends and family just don’t think of referring you or don’t think you need the help.

This letter is referenced as a “Letter from the Heart” we send it yearly to our clients, friends, coworkers, family and business partners.

What do I write about each month? Well it’s simple, we focus around F.O.R.D. or in other words alternate topics around Family, Occupation, Recreation, Dreams.

Use one of those subjects each month and rotate accordingly repeating the process over and over.

Step Five Mail the letter to at least 200 people. If you are not mailing to over 200 you all ready behind.

Everyone you meet should go into your database from now on and the “Business partner welcome letter” should be mailed immediately when you enter them into ACT. The “BP” welcome letter can be found on the company network. The letter informs them that you keep in touch with many people via mail and you plan to mail to them in the future to further your relationship with them.

Step Six Call, call, call. Any questions? Well I’ll explain . . .You should call everyone you know and see if they received your letter. If not, tell them it is on the way. Ask each person you call if they currently get checked in with from there current lender each year to inform them of the value of their home and make sure they are in the best product to meet their goals as new products come out all the time that could save them interest on their biggest investment.

Most people you know will say “no” unless they are already a client of Mortgage Planner. At that point, ask to update your database on them and you will do it free from now on (check in every year).

That is what our company calls Annual Review or service!

We get our teeth checked every 6 months, why wouldn’t we check on our biggest investment at least once a year?

Step Seven Schedule a “reoccurring” activity in ACT to call each database contact you spoke with each year, for the next 5 years, ACT will remind you to call and perform the annual review.

Mortgage Planner Training Guide METHOD TWO Building a business of referring partners. It is a difficult process to establish a network of referring partners, but successful sales people all have done it, unless they or you plan to spend a lot of money on advertisements this is a must!

Step One We must develop 2 partners in each of the following fields; REALTOR, Financial Advisor, Attorney, Appraiser, and 1 homeowners agent. Prepare two lists of 25 prospective partners to contact, an ‘A’ list and a ‘B’ list. (Total of 50 between the two lists) Lists should contain Company, Contact, Field, and Phone.

Step Two Send the intro letter “How would you like an extra $20,000?” via mail to one of the lists you prepared.

Step Three Call each of the prospects you mailed to using the Business partner script found in the “Master script book” Schedule the appointment!

Step Four Sell yourself when you meet with them. Use the Mortgage Planner business partner presentation as a tool but don’t be to formatted. Be personable! They will refer someone they like. At the meeting, offer to meet again in two weeks. I have found that partner relationships are hard to keep strong. So I meet every 2 weeks with a partner I like for lunch or recreation (golf etc.). Out of the office is key to getting personal. When you meet with the partner go personal to get referrals.

Step Five Establish a list of “approved partners”. These are the ones you like and want to work with that you have met. Call every Monday morning to see if they need anything from you this week and if they have ran into anyone who needs a mortgage last week or over the weekend. An Loan partner is best to service this step.

Keep the lunch up bi-weekly or you will loose them. Make an effort to drop by to see them once a month in addition to the lunches.

Mortgage Planner Training Guide METHOD THREE Call For Sale by Owners! They are business! You can call any FSBO’s found in the weekly paper, “help you sell” real estate companies, or discount brokers where the seller shows the property. Also check www.FSBO.com and use the MPM For Sale by owner script for yellow signs or mailing flyers.

You call them to see if the home has been sold.

If not you ask the selling price?

Then you ask if they have any “home information sheets” that describe the homes features?

Charleston Style

O P E N H home with impr O Uess SiveE

LUNCHEO

Balcony

Tuesday Ap

ril 25th | 12:

00 to 2:00

Once you get to the home let the seller know about $250 off seller assistance package.*

N

s Walk | Mo

nroe, GA

$315,000

Inform them that you are from MPOAC and that you have a lot of clients in that price range approved and looking for a home (use the company pipeline if needed) and would like some flyers on their home to mail to our existing clients because their home is not on the MLS (Realtors Multiple List Service).

Offer to go by the home to preview it and pick up the flyers. If they have no flyers offer to make them, but you need to see the house.

| 411 St Ive

Craftman Style Home beautiful open d with Floor plan. great room Vaulted with a gorg Fireplace. eous Stone Large open kitchen with island, gran ite counter custom cabi tops and netry. Large pantry. Keep walk in ing Owner’s suite room with fireplace. on main luxury spa level with bath. Form al dining room with coffe red ceiling.

3 Bedroom on upper s 2527 level. Priva te wooded backyard.

This and whistles. home has all the bells Great loca tion!!

MLS# 8007 055 | $599 ,500 4 Beds | 4.5 Baths | 4,00 3 Sq.Ft.

NW Botanical Court | Concord, NC MLS# 3269894 | $315,00 0

FOR FINANCING INFORMA TION

ENTER

YETI Cooler and

This Charleston Style home with impressiv e Balcony has it all!

3 CAR GARAGE. Bay Storage galore with window accents the tandem living room/dining room. entire first floor. A Big Great WOOD FLOORS SUNROOM! Great room FIREPLACE (never used). chef’s kitchen with double Gorgeous granite in ovens & smooth cooktop, pantry. Huge loft/flex master suite with luxury room. Spacious bath featuring garden tub. Patio with private new landscaping. Clean cozy yard (tree view), and fresh, move right in. Close to grocery, shopping, I-85.

T O W IN

4 YETI Cup s*

*Contact DeAn at deannellis@ n for more details elementfu nding.com No purchase

Michael Frazie r

necessary. Prize will be awarded valued at [VALUE on [DATE] at the OF PRIZE]. You Senior Loan Officer [LOCATIO must be 18 years or older to participat N]. One ticket per individual will e. Participants employed in any be awarded [DESCRIBE HOW NMLS# 22526 TO ENTER] by real estate or mortgage related [DATE]. field are not eligible. One participant will win a [PRIZE] Void where prohibited .

Element

DeAnn

Ellis

Cell 770.616.

8042 Office 678259-0205 deannellis @elementfund ing.c 1108 Clark St. SW | Covi ngton,

om

GA 3001

Payment options?

Download our free mobile app with up to date program options and interest rates. http://mtgpro.co/79m 7m

Funding 200 North Harbor Place, Suite E Davidson, NC 28036 Cell 315.409.9269 Fax 910.672.7935 mfrazier@elementfunding .com

Loan Offic er NMLS# 1489 16

Primary Resident 4 | EllisMortg ial Mortgage, Inc., DBA Element available in all ageTeam states. Credit Funding, NMLS .com and collatera and are subject #3094. PRMI l are subject to to borrower(s) is an Equal Housing approval qualification.

Lender. Some This is not a commitm. Terms and conditions products and services ent to lend. Georgia apply. Programs, rates, terms and condition may not be Department of s are subject Banking and Finance 6521. to change

www.mortgagetim

ing.com

Carol Sam uel

404-734-

7334

Ben Dos ter

Primary Residential Mortgage, Inc., DBA Element Funding, NMLS #3094. PRMI is an Equal all states. Credit and collateral Housing Lender. Some products are subject to approval. Terms and services may not be available and conditions apply. Programs, to borrower(s) qualification.

This is not a commitment in to lend. North Carolina Commissioner rates, terms and conditions are subject to change and are subject of Banks L-112833. South Carolina Department of Consumer tor Affairs

MLS3094, As Element Funding son MLS-3094 OTN#1. , Real

678-977-5497 , Realtor Keller Willia ms Atlanta Partners 4495 Atlan ta Hwy, Build ing 100, Suite A Office 678287-4300

*$250 off Sellers Assistance program This is where we will do the following; • Prepare color flyers featuring their home for their kitchen counter.

• You will pull credit on all prospective buyers before they show it to make sure they qualify before the go through the home. If anyone already has loan approval we kindly forward them to the seller.

• The seller will get preliminary title work from Elite Title our sister company at no charge to save time on the process.

• If they agree to a UGLY YELLOW SIGN, you can offer to pay the buyers appraisal cost as an additional attraction. (loan officers expense) • Get them to order an appraisal to know value now, it can be transferred to the buyer and proves what they are selling it for (cost) it can be on the kitchen counter when prospective buyers come through.

• Offer to order the title and appraisal for the appraisal fee required, (title is free). If you order it, it comes in Mortgage Planner name and when a buyers comes along it is cheaper and quicker to go with us because we already have the appraisal, title and it is in our name (it costs a fee to transfer to another mortgage company). We pay cost of appraisal back to the seller if we get buyer!

Remember, call 10, meet 3, write 1.

50 connects, 5 deals X $1600=$__________

Mortgage Planner Training Guide METHOD FOUR Accountability Tracker! This is the form to track your calling results. Use this form to get to be better at making the big call. Successful sales people talk to at least 25 people a week! Everyone you meet you should ask if they need or know of anyone who needs a mortgage? Give your business cards out!

Accountability is key in our company. If you close under 4 transactions as a loan officer you must complete this form and fax to Brad every Friday by noon until you have a month you close 4 or more units.

(Accountability Tracker form on next page)

ACTIVITY ACCOUNTABILITY TRACKER Name:__________________________________________Date:_______________________ FACE TO FACE THANK YOU NOTES FOLLOW UPS 1____________________________ _________________________ _____________________________________ 2____________________________ _________________________ _____________________________________ 3____________________________ _________________________ _____________________________________ 4____________________________ _________________________ _____________________________________ 5____________________________ _________________________ _____________________________________ 6____________________________ _________________________ _____________________________________ 7____________________________ _________________________ _____________________________________ 8____________________________ _________________________ _____________________________________ 9____________________________ _________________________ _____________________________________ 10___________________________ _________________________ _____________________________________

CROSS SELL

CALL LOG

ACTION

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

LISTING AGENT .............................. 1

2

3

4

5

17 18 19 20 21 22 23 24 25 26 27 28 29

CURRENT CLIENT ............................ 1

2

3

4

5

30 31 32 33 34 35 36 37 38 39 40 41 42

(Asking for CCR)

43 44 45 46 47 48 49 50 51 52 53 54 55

AFTER CLOSING ............................. 1

2

3

4

5

SOCIAL MEDIA POST ..................... 1

2

3

4

5

ANNUAL REVIEW............................. 1

2

3

4

5

Thank you call

56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100

FINANCIAL PLANNER

INSURANCE

BUSINESS

1.___________________________

1.___________________________

1.___________________________

2.___________________________

2.___________________________

2.___________________________

CPA

LAWYER

OTHER

1.___________________________

1.___________________________

1.___________________________

2.___________________________

2.___________________________

2.___________________________

DAILY CALL LOG LEGEND / = CALL OR MESSAGE WEEKLY GOAL: LEAD 20 RESULTS: LEAD_______

APPS 5

APPS_______

FACE TO FACE 10 FACE TO FACE_____

= TALK TOO THANK YOU CARDS 10 THANK YOU CARDS_____

TALK/ MESSAGES 50 TALK/ MESSAGES_____

Mortgage Planner Training Guide METHOD FIVE Having a Referral Reflex is a must!

When you earn it with your clients and they are excited about your services, that is the peak time to ask for a referral.

Client: “You really did a great job getting the appraiser out so quickly!.”

YOU: “Thank you for noticing! I appreciate you saying something, it mean a lot to me. As you know, I build my business on creating an experience that’s beyond your expectations. In return, we hope you will tell people about the services that we provide. . . . Who is the next person you know most likely to purchase or refinance? . . .What do you think we could do together to let the people at (work, church) know about my _______________________________? (don’t ask” who do you know? But “who is the next person you know most likely to purchase or refinance?)

Mortgage Planner Training Guide METHOD SIX TRIANGLE FOR TRUST and CURRENT CLIENT REFERRALS REFFERED CLIENT CALLING IN Conversation example: “Hi this is Mrs. Jones, I was referred to ___________________ is he/she available?

Actually he/she is in a consultation at the moment, however I am their mortgage partner is their anything that I can do for you?

Well, I was referred to ___________________by Suzie Smith . . .

Great! What did Suzie have to say about us?

She said you guys were fast!

What else did Suzie say?

Uh, she did say that your rate was very competitive?

What else did she say?

She did say that you guys were fun to work with and would take great care of me.

Wonderful! I can remember when we helped Suzie finance her home she was great to work with too.

When would you like to come in to meet________?

Well I really wanted to talk to him/her first to discuss your cost and rates or maybe you can tell me?

Mrs. Jones I really appreciate you calling in from Suzie’s recommendation, do you trust Susie?

Well yes.

Then I’m sure you can trust use and you won’t be disappointed our teams goal is to exceed your expectations because that is how are business grows that is why Suzie felt comfortable referring you.

I would hate to start off on the wrong foot and not cover all your basic needs. The first meeting we like to discuss your goals to make sure the product we advise you is the right one that saves you the most amount of money over the term of your loan. It usually lasts 30-45 min. Would this week be too soon?

SHORT CUT STEPS TO CLOSE • SOMEONE WAS REFFERED. • WHO REFFERED YOU? • WHAT DID THEY SAY ABOUT US? (ASK UNTIL PERSONAL NOT TRANSACTIONAL) • CLOSE • DO YOU TRUST THEM? • THEN YOU CAN TRUST US. CURRENT CLIENT REFFERAL CALLING OUT Hi this is _________ from Mortgage Planner. ________ _______ (first and last name) wanted me to give you a call, we’re assisting them on ____________ (refinancing, saving them some cash per month, buying there new home). We offer a lot of options for buying or monthly savings on your current home, but more importantly . . .

How do you know ______________ (client that referred them to you)?

Make the referred client feel confident that you know the referee with personal comments, not transactional.

That is great! So do you rent or own? (Inquire about current situation)

Mortgage Planner Training Guide If they RENT • Determine how long before they want to buy • Offer to keep them updated as the months go on through your database mailer. “Often rates can change how much you qualify for sometimes by $10 of thousands!”

• Add to database • Ask if they know anyone else who is in the same position they are If they OWN • Ask if there current lender or Realtor are keeping them informed of the market (rates) and the value of their biggest investment each year, there home!

• Most clients will say NO; offer to do the services at no fee, because they were referred.

• Add to your database with all there current loan information, • make sure you ask “How long do you plan to stay in this house?”

• Ask for anyone else that they know that doesn’t get these services as well.

Long term- refinance to a low rate with points to capture the lowest available.

Short term- ARM, Balloon etc.

METHOD SEVEN Evidence of Success Postcard The following is a simple outline that all loan consultants must follow. Salespeople view their business as something they have to regenerate every single month. This old way of thinking not only is not true, but very stressful and drains them of energy.

All of this is based on the fact that people still do business with other people they like, know, and trust.

BEWARE this seems too simple! But that’s the beauty of it. Understand, the purpose of all these three activities is first customer retention and second referrals to other people.

Sending Out Evidence Of Success Post Cards • Make sure your and groups are updated • Every 7th of the month, email out a postcard called “Evidence of Success” • The postcard will be a short story on how you/we helped someone last. With a P.S. “We need your help! Please refer us anyone you may know buying or refinancing a home.”

• We believe in mailing or emailing two times per month to our database.

METHOD EIGHT

6 MONTH PLAN

Rob McCrorey

Broker Associate Phone: 980.721.5647 Rob@LKNHouseHunter.c om www.LKNHouseHunter.c om

Lets talk about SOLD! Rob McCrorey

Broker Associate Phone: 980.721.5647 Rob@LKNHouseHunter.com www.LKNHouseHunter.com

Setting the stage with your clients

All about you form-get to know your clients!

Compare yourself to your clients favorite restaurant.

They recommend it because of the “product and t he process” Explain that is how you want to be referred.

PRODUCT

Mortgage Planner Training Guide EXCELLENT

SATISFIED

DISSATISFIED EXCELLENT

SATISFIED DISSATISFIED

1. WHY DO PEOPLE GET REFERRED? ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

PROCESS

2. DO YOU DESERVE REFERRALS? WHY? ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ 3. DO YOU “WOW” YOUR CLIENTS? • WOWING YOUR CLIENTS IS EXCEEDING THEIR EXPECTATIONS • UNDER PROMISE, OVER DELIVER!

4. WHAT 3 WAYS CAN YOU “WOW” YOUR CLIENTS? 1._________________________________________________________________________________________________________ 2._________________________________________________________________________________________________________ 3._________________________________________________________________________________________________________ CREATE SYSTEMS THAT CREATE WOW’S AUTOMATICALLY,

“I wow my clients by delivering closing documents 48 hours before the closing to their home for review.”

What to discuss next . . .

The Ultimate Scenario Now, I want to find out what a perfect transaction would look like, feel like and sound like for you. So right now, lets turn our attention to what you want and need! During this conversation I am going to make some promises and I want to make sure I keep them all so I’m going to record this section, if that’s ok with you! Mr. And Mrs. Customer, you have our own picture of what the perfect transaction would look like, sound like and feel like. As your consultant, we need to get the picture in your head into my head so we are looking at the same thing, listening to same thing, and felling the same thing.

To get the picture in your head into my head, I am going to ask you a few simple and easy questions.

First, from your perspective, describe for me what the perfect transaction would look like, or sound like, or feel like for you?

Re-Write Section #1

Mortgage Planner Training Guide ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ __________________________________________________________________________________________________ Section #2 (If they have a difficult time answering that question ask:) Mr. And Mrs. ______________________ what’s your biggest fear about selling, buying or borrowing?

Imagine you have overcome __________________ (fill in the fear), could you now describe what the picture of a perfect transaction would look like, sound like or feel like? ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ __________________________________________________________________________________________ Section #3 BLACK – Transactional Probing Questions Tell me more about that?

Would you elaborate on that?

Give me an example.

What else should I know about_________________________________?

Re-Write Section #3 ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ Section #4 RED-Emotional Probing Questions Why is (describe individual parts of transactional needs) so important to you?

I sense this means a lot to you emotionally, could you share that with me?

Tell me more?

What else would help me understand?

Talk to me about those experiences?

I sense this means a lot to you, could you tell me why?

Why is it so important to you?

Re-Write Section #4 ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

METHOD NINE- BALANCE

Mortgage Planner Training Guide

CIRCLE OF LIFE

Each line represents an area in your life. Start from the top left row of numbers and label from left to right as follows; Love life, Spirituality, Family, Personal, Money, Work, Friends for each set of numbers.

Next rate each area of your life 10 being the best, 1 being the worst. Only circle one number in each category.

Connect the rows from each number attempting to make a circle. How’s your balance? Leaders work to make a complete circle in their life being balanced in all areas. What areas are you low in may affect your sales. Great people work on getting better every day!

Complete your goals for the next 12 months in the following areas if life; 1 Love Life a.___________________________________________________________________________________________________ b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________ 2 Spirituality_____________________________________________________________________________________________ a.___________________________________________________________________________________________________ b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________ 3 Family_________________________________________________________________________________________________ a.___________________________________________________________________________________________________ b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________ d.___________________________________________________________________________________________________ 4 Personal_______________________________________________________________________________________________ a.___________________________________________________________________________________________________

Mortgage Planner Training Guide b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________ 5 Money_________________________________________________________________________________________________ a.___________________________________________________________________________________________________ b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________ d.___________________________________________________________________________________________________ e.___________________________________________________________________________________________________ 6 Work__________________________________________________________________________________________________ a.___________________________________________________________________________________________________ b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________ 7 Friends________________________________________________________________________________________________ a.___________________________________________________________________________________________________ b.___________________________________________________________________________________________________ c.___________________________________________________________________________________________________

METHOD TEN

Mortgage Planner Training Guide When building a successful business there are three areas to focus on and maintain. Complete the following for your business; MARKETING Where am I going to get my business from?

1. Database (source) a. Annual reviews and calling past clients b. Sending bi-monthly mailers to all contacts in my database c.____________________________ 2. _________________________________________ a. ___________________________ b. ___________________________ c. ___________________________ 3. _________________________________________ a. ___________________________ b. ___________________________ c. ___________________________ 4. _________________________________________ a. ___________________________ b. ___________________________ c. ___________________________ OPERATIONS What do I need to do daily to accomplish my finance goal?

1. Monday a. Call all approved business partners on list. b. ___________________________ c. ___________________________ 2. Tuesday a. ___________________________ b. ___________________________ c. ___________________________ 3. Wednesday a. ___________________________ b. ___________________________ c. ___________________________ 4. Thursday a. ___________________________ b. ___________________________ c. ___________________________ 5. Friday a. ___________________________ b. ___________________________ c. ___________________________ FINANCE Sales has been proven to be a numbers game. Based on tracking top producers and new loan officers the following key has been designed to target and weigh our loan officers success towards

Mortgage Planner Training Guide the end income goal.

Based on a 25% closing ratio on the lead tracker and 80% closing ratio from application.

If I want make $72,000 this year, that is $6,666 per month.

I must close 4 units per month based on $3200 per deal and a 50% split to me or $1600 per unit.

I must take 6 applications per month.

So that means I must have at least 30 on my lead tracker by the end of each month.

Complete the following box‌ If I want make $__________ this year, that is $________ per month.

I must close ____ units per month based on $3200 per deal and a 50% split to me or $1600 per unit.

I must take _____ applications per month.

So that means I must have at least _____ on my lead tracker by the end of each month.

So I need _____ leads per week or ______ leads per day!