March 2018 Mortgage

March 2018

The benefits of joining a

professional organization

How to remain calm when

things don’t go as planned

Ready to buy a home?

Get your credit ready first

featuring:

Fred Arnold

contents

professionals 4

FHA, Fannie Mae & Freddie Mac — The basics of government mortgage loans

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Make your business boom — The benefits of joining a professional organization

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Keeping your cool — How to remain calm when things don’t go as planned

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18 Tricks of the trade — Improve your time management skills

t featured cover

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mortgage pro

Fred Arnold

buyers&sellers 10

Ready to buy a home?

Get your credit ready first

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Identifying wants vs. needs — A step-by-step guide

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Buyer beware — Common pitfalls to avoid when purchasing a home

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FHA, Fannie Mae & Freddie Mac —

The basics of government mortgage loans

When it comes time to buy a home, determining which loan is best for you can feel overwhelming. There are many loan options available, some of which are known as government loans, or government-backed loans.

Many buyers take comfort in opting for these types of loans — known as FHA, Fannie Mae, or Freddie Mac loans — as they offer terrific benefits for both firsttime homebuyers and seasoned homebuyers. Here is an overview of what these types of government mortgage loans offer borrowers:

FHA — FHA stands for Federal Housing Authority, and as its name implies, these loans are insured by the U.S. Federal Housing Authority, and are issued by federally qualified lenders. FHA loans appeal to many buyers, particularly first-time homebuyers 4

because they typically offer less stringent qualification requirements, and often allow borrowers to make a smaller down payment.

For example, FHA loans may be available to homebuyers with less than perfect credit. In fact, many people can secure FHA loans as long as their credit score is above 500. However, the down payments required for an FHA loan are contingent upon credit scores.

Borrowers with a credit score of 500-579 will need at least 10% down in order to obtain the loan. Buyers with a credit score of 580 or more may be eligible for down payments as low as 3.5%.

Other benefits afforded by FHA loans include allowing borrowers to use down payment assistant programs, or

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When selecting a mortgage loan, it is smart to engage the services of a trusted, reputable mortgage professional. That way, you’ll be able to discuss all options available to you for a home purchase or a refinance loan, so you can make the best decision for you and your family.

to use money received as a gift from a family member as a down payment. Grants may also be used to cover a down payment. FHA is also open to allowing the builder, seller, or lender to pay for part of your closing costs, which include things like appraisals, credit reports, or title expenses.

It’s important to note that FHA loans are not obtained directly through the Housing Authority. They are the insurer, not the lender, so an FHA loan will need to be obtained through a qualified lender. In addition, it’s important to note that the costs and services charged by brokers, banks, or credit unions will vary, so it may be in your best interest to shop around before signing any paperwork.

Fannie Mae — Fannie Mae is the familiar name for the Federal National Mortgage Association (FNMA).

Fannie Mae is a government-owned business, which was created to enhance the country’s housing market, by purchasing mortgages from retail banks. This helps banks to loan more money, giving greater numbers of people the opportunity to purchase a home. The goal of Fannie Mae is to make housing more affordable for everyone. As such, Fannie Mae offers several assistance programs for first-time homebuyers, and for those needing down payment assistance.

Fannie Mae loans are only available for conforming loans, and there are certain requirements that must be met to obtain approval. In general, Fannie Mae loans will require that your debt-to-income ratio be below 36%, unless you have a high credit score and proof of financial reserves. Credit requirements for Fannie Mae loans are stricter than FHA loans. Buyers need Copyright Featured Agent Magazine

a credit score of at least 620 to qualify for a fixed rate mortgage, while adjustable rate mortgages will require a credit score of 640. As a huge benefit though, first-time homebuyers with good credit who meet all other Fannie Mae requirements may be able to obtain a loan with a down payment requirement of just 3%.

Freddie Mac — Freddie Mac is the familiar name for the Federal Home Loan Mortgage Corporation (FHLMC). Like Fannie Mae, Freddie Mac is a government-owned corporation which buys mortgages, so banks and other lending companies don’t have to bear the burden of keeping 30-year loans on their books. Overall, Freddie Mac exists to help keep mortgage interest rates low, which serves as an incentive for first-time or experienced homebuyers to buy homes.

The requirements borrowers must meet to be approved for a Freddie Mac loan are very similar to the requirements of a Fannie Mae loan. That is, there is great emphasis on a borrower’s debt-to-income ratio, and a minimum score of 620 is typically required.

The main difference between these two governmentowned corporations lies in which banks each agency buys loans from. Fannie Mae buys mortgages from retail banks, whereas Freddie Mac buys mortgages from smaller banks.

When selecting a mortgage loan, it is smart to engage the services of a trusted, reputable mortgage professional. That way, you’ll be able to discuss all options available to you for a home purchase or a refinance loan, so you can make the best decision for you and your family.

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Make your business boom —

The benefits of joining a professional organization In the mortgage industry, relationships are everything.

While building a strong connection to your immediate colleagues and your client base is step one, there’s more you can do to cultivate positive professional relationships in your sphere. Consider the professional organization, a prevalent institution in the lending realm. Whether you join a local chamber of commerce, a state-wide young professionals club, or a well-known entity like the National Association of Mortgage Brokers, there are plenty of avenues to explore that can boost your business as you forge new bonds. Take a look at some of the following advantages that detail just how game-changing a professional organization can be for a lender.

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Networking made easy — This may seem obvious, but joining a professional organization populated by others excelling in your field is a one-stop-shop for endless networking opportunities. However, this goes far beyond the simple act of adding names to your contact sheet. A local or even statewide home lending scene can be surprisingly small. If you’ve made pleasantries with other loan officers or a real estate agent through a professional organization, you’ve already built a baseline of understanding should you cross paths while doing business. On the other hand, if you need to reach out to an agent or fellow lender in the course of a deal who you don’t know, your professional organization could provide Copyright Featured Agent Magazine

Working in mortgage lending is a round-the-clock job, but make time for the things that matter. If you want your business to enjoy longevity in this industry, don’t go it alone.

Boost your resume — Perhaps you’re moving offices, making a shift in your career path, or looking for leadership opportunities in lending — you’ll want to update your resume. Aside from the skill-building and networking opportunities inherent in joining a professional organization, it’ll also round out your experience and engagement in your field. Besides, you never know who will be the person reviewing your resume. Perhaps he or she also has a connection to your professional organization. Either way, you’ll showcase the fact that you’re willing to go above and beyond office hours to grow in and support your industry.

a common connection that will make your introduction easier.

Build your skills — Professional organizations are often built, at least in part, to unite and uplift entrepreneurs on a common path. With that in mind, professional organizations will often offer — free of charge, subsidized, or discounted — access to continuing education opportunities, seminars, speaker series, and more. In the mortgage world, staying ahead of the industry’s constant evolutions is a key ingredient to long-term success. This means that taking advantage of skill-building courses and activities can give you the boost you need to grow as a professional and business owner.

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Lean on a support system — Yes, professional advancement is a great reason to get involved in a local, state, or national lending organization. But have you have ever considered the emotional benefits of communing with your fellow brokers, or with others working hard as business owners in your community?

Don’t bring your gripes and anxieties home with you.

If you’re feeling frustrated, vexed by a problem, or simply want to talk shop with a fellow industry insider, a professional organization can give you a listening ear and a shoulder to lean on.

Working in mortgage lending is a round-the-clock job, but make time for the things that matter. If you want your business to enjoy longevity in this industry, don’t go it alone. Reach out to a professional organization that interests you — whether its focus is charitable volunteer work, skill-building, or otherwise. From there, you’ll meet others working hard on the hustle, just like you. Come for the comradery and stay for the endless professional advantages that will be a boon to your business.

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Keeping your cool —

How to remain calm when things don’t go as planned Change is inherent in the mortgage industry, which means that learning to roll with changes as a mortgage broker, originator, or branch manager is an occupational hazard that simply can’t be avoided. Although the everchanging and unpredictable nature of work as a mortgage professional is exciting, stimulating and incredibly rewarding, it can also be an incredibly stressful career.

There are dozens of variables at play in every transaction, whether you’re working with nervous first-time 8

homebuyers, or even working with seasoned homeowners on a money-saving refinance. No matter how organized, how diligent, or how long you’ve been in the mortgage industry, there are going to be days when things go a little haywire, and there’s nothing you can do to control it.

Fortunately, there are ways to control how you react to stressful situations. Indeed, there are tried-and-true tactics for keeping your cool, even when blindsided Copyright Featured Agent Magazine

steps towards resolution. If there is nothing you can do about it, let your clients, including your REALTOR® referral partners involved know about the setback as soon as possible. That way, making a phone call you don’t want to make isn’t hanging over your head for any longer than necessary. Addressing the situation as soon as possible will help you to feel less stressed.

Keep Away from the Caffeine — When stressful situations arise, steering clear of stimulants is a good idea. Caffeine can trigger additional adrenaline production which may give you a quick extra burst of energy, but will soon likely be followed by a “crash” period, where fatigue, if not outright exhaustion can set in. Reach for a glass of water, or a healthy juice in lieu of a caffeinated beverage when things feel chaotic.

Tap into the Power of Positivity — Catastrophizing when things go wrong only serves to induce additional stress. Try taking a few moments to identify the positive things happening in other transactions, in your life, or with a new promising client, to keep your chin up. Positive thinking during challenging times will do wonders in terms of keeping you focused on the next task at hand, rather than letting an obstacle or setback throw off your whole day.

by an unexpected challenge in a purchase or refi loan.

Here are five tips that will help you to stay calm, when things don’t go as planned.

Remember to Breathe — When you get word that an unforeseen delay, or other obstacle has arisen, the first thing to remember is that taking a few deep breaths will help to calm you down immediately. Try closing your eyes for a few minutes and put the problem on pause, to focus on breathing. This helps to calm your mind and can help slow down your body’s physical response to stress.

Seek a Solution — When a curveball is thrown your way, it’s helpful to look at the problem and identify whether there is anything you can do to correct it, or whether it’s out of your control. If there is a possible solution, determine your strategy, and take the next Copyright Featured Agent Magazine

Talk it Out — There is great benefit to discussing the challenge you’re facing with someone you trust.

Perhaps it is time to call a fellow originator, a professional mentor, or your branch manager. Not only will talking through the challenge likely feel like a weight off your shoulders, but there’s always the chance that whomever you call may have a solution you haven’t thought of. Either way, sharing your feelings with someone else can help take some of the sting out of a stressful experience.

As mortgage professionals, the personal satisfaction earned through helping others to own their own piece of the American Dream is often priceless. Yet, all brokers, originators and managers will have to work their way through stressful situations to get the rewards at some point in their career. It’s important to remember that staying calm when times become stressful will only help you to better serve your clients and your own well-being. Learning to accept that obstacles will come up, and employing these best practices to stay as relaxed as possible when unexpected obstacles arise, will be an invaluable tool for the rest of your career.

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Ready to buy a home?

Get your credit ready first If you are thinking of purchasing a home in the coming year, there are several things you should do before you ever step foot into a potential house. One of them is to review and improve your credit to help ensure you receive the most favorable home loan terms. Of course, everyone has their own unique set of circumstances when it comes to finances, but there are some basic guidelines all borrowers can benefit from. Here they are:

Start with Your Score — The first thing you want to do is get a copy of your credit report, which includes your FICO credit score. You can get your report for free at annualcreditreport.com. Review it thoroughly for any errors or inaccuracies. If you find any, get to work having them corrected; you want lenders making decisions based on your information, not someone else’s. Traditional lenders typically require a credit score of 620 or higher to consider applicants for a loan; FHA loans require a minimum score of 580. However, your score will also affect the interest rate on your mortgage — the higher the score, the lower the rate.

So it’s worth it to work on improving your score before you apply.

Pay On Time, Every Time — This is the single most important thing you can do to ensure a good credit score. Having a strong record of on-time payments is essential when applying for a home loan. Even one recent late payment can greatly influence the decision.

If you’ve had any issues paying on time in the past, make it impossible to pay late by setting up all your bills up for automatic payments.

Hold Steady with Credit Cards — When you apply for a mortgage, lenders will be looking for consistency and responsibility. So now isn’t the time to open a lot of new credit cards. But it’s also not the time to close the ones you have. It’s a great idea to pay down high balances, but even if you pay off one or more cards, don’t close the accounts. Doing so can have a negative effect on your credit utilization ratio 10

(amount of total debt divided by total available credit), which has the potential to lower your credit score — exactly what you don’t want.

Even if you’ve made financial mistakes in the past, you can still work toward improving your score. It takes time, patience and discipline, but it will be well worth it.

Beware of Quick Fix Credit Repair — If you’re credit score is lower than you’d like, you might be tempted to go for one of the quick fix credit repair solutions. Don’t do it. There is no way to immediately “fix” bad credit. What these companies do is initiate disputes on all negative entries on your credit report.

While the creditors look into it, those line items will disappear from the report, which gives the temporary appearance of a cleaner credit record. But, once the creditor determines the entry is valid, it will show back up on your report. You are better off taking the money you’d spend on credit repair and using it to pay down high balances.

Have a Talk with Your Boss — While this won’t directly influence your credit, it can help as you prepare a plan to buy your home. Talk with your manager about what you can expect in the coming year. Are you on track for any bonuses? Will the company be giving salary increases? If so, are you in good standing to get a raise? Having an idea of what is to come financially can help you make better decisions and formulate a solid plan to help you reach your goal of home ownership.

Getting a handle on your credit situation is an important step when considering buying a home. Even if you’ve made financial mistakes in the past, you can still work toward improving your score. It takes time, patience and discipline, but it will be well worth it.

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Fred Arnold

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Fred Arnold

After an honorable discharge from the United States Air Force, Fred Arnold, Mortgage Advisor at American Family Funding in Santa Clarita, CA, says he wasn’t sure what path his career would take. Armed with a degree in Finance and Real Estate, he was willing to entertain the suggestion of a family friend who encouraged him to enter the mortgage industry.

As fate would have it, Fred was a perfect fit for the position. In the 27 years since then, Fred has helped countless families to purchase their dream home, and use real estate to help them achieve their long and short-term financial goals.

“It’s always been about the people, for me,” Fred says. “First-time buyers come in, not knowing where to start, are occasionally anxious, and they leave with 12

a road map on how to buy their first home. Others come to us, worried about credit issues, and they leave with a game plan for rebuilding their credit.

Some want to begin investing in real estate but don’t know where to start. We provide solutions to these challenges. We help clients overcome life’s obstacles and achieve their financial goals.”

Continuing, the proud father of four says, “My parents were the first who inspired me to help others.

My mom was a very hard worker and massively devoted to her children. And, my dad was an incredibly hardworking entrepreneur. They both taught me to always do my best, and to help others in any way I could.” Fred has followed his parents’ example by doing everything he can personally and Copyright Featured Agent Magazine

“I take a lot of pride in doing a great job. It’s an honor to help people realize what an amazing investment real estate is, and how real estate can be used to fulfill so many of their dreams.” professionally to help others, particularly those he calls “local heroes.”

“Veterans have always held a special place in my heart,” says Fred. “To help our service men and women buy a home, often with $0 down, is really gratifying.” Fred enjoys supporting teachers and senior citizens. “I really admire teachers. Being a teacher is not just a vocation, but a calling. They are helping to shape our future by educating our children,” he continued.

“I also respect our seniors so much. They have paved the way for everything we enjoy today, which is why I made sure we offer specific programs for teachers and seniors to assist them with their real estate and retirement goals.”

show “Out of the Rough,” and the radio program, “The SCV Chamber Business Spotlight.” “I have interviewed thousands of business owners and community leaders to try to magnify their genius, in an effort to encourage others through good times and bad,” he says. “My passion is helping others.”

His efforts to give back to his community extend even further. Fred currently serves as President of the OLPH School Board. He is also on the board of the COC Foundation, along with serving on the board of the Santa Clarita Coalition. In addition, he is a past Chairman of the Santa Clarita Valley Chamber of

Fred’s actions and efforts over the course of his career certainly indicate that he’s determined to pay forward his gratitude in myriad ways. For instance, it was Fred who served as the face of the California mortgage industry during the real estate crash and recession. As the President of the California Association of Mortgage Professionals in 2008-2009, Fred answered the tough questions, and forever carved a place as a true leader in the field of real estate financing. “When the mortgage industry was under attack, I was proud to be one of its spokesmen,” he says. “It was a difficult time, but it clearly identified and weeded out the bad players in the industry. The good ones remained and we are still here today, serving the American people.”

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Commerce and served as Secretary for Matadors Community Credit Union.

Even though Fred clearly goes the extra mile to help his community, and to ensure that every borrower who comes to him leaves with a viable solution to their challenge, he still creates time to mentor and guide others in the mortgage industry. In addition to overseeing more than 20 mortgage professionals on his team, located throughout California, Oregon, and Colorado, Fred is also a frequent speaker at various seminars and events. “I love

sharing my knowledge and experience with others, whether through coaching our hardworking mortgage professionals at American Family Funding, training, or speaking engagements,” he says. To date, Fred has delivered more than 200 speeches to various organizations and associations.

Yet, with everything he has done to create opportunities for others, Fred still says that he’s gained far more throughout his career than he can ever hope to give back. “My business is 100% referral based.

My four children are good, hardworking, productive individuals, and they are my greatest source of pride.

I am honored, humbled, and inspired to do my best in everything because of them. That’s one of the greatest things about kids. They are always watching, and they remind you to make good conscious decisions and to do the right thing.”

His kids were also the inspiration for his dedication to physical health and fitness. Since 2014, Fred has competed in Ironman triathlons to not only seek and maintain optimum physical health and fitness; but to be a role model to his children and others.

With an enviable career, the respect, loyalty and friendship of countless home buyers and homeowners, it would be reasonable to think Fred may be ready to slow down. But nothing could be further from the truth. “I take a lot of pride in doing a great job. It’s an honor to help people realize what an amazing investment real estate is, and how real estate can be used to fulfill so many of their dreams. That’s what I think life is all about. It’s about going after your dream, trying to achieve extraordinary results, and every day becoming a better version of yourself.”

Fred Arnold American Family Funding | Santa Clarita, CA 661.505.4300 | fred.arnold@affloans.com | www.affloans.com NMLS# 1850/214841 Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act

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Identifying wants vs. needs— A step-by-step guide

When you’re ready to look for your next home, it is smart to provide your REALTOR® with a comprehensive overview of what you want, along with what you need. The things you want in a home will be the easier list to make. You may want granite countertops, a fireplace, or you may want to live at the end of a cul-de-sac. You may want a finished basement, or a huge yard. It’s good to know what you want.

However, the more important traits to consider are those you really need. Needs are essentially dealbreakers and include things like number of bedrooms or bathrooms, or a certain school district. A garage or storage space may also be a need. And of course, your budget is a need that is paramount to all else. That is, Copyright Featured Agent Magazine

$X is the highest amount you can pay monthly, so you need to purchase a home within that limit. In sum, your needs list is basically the bare minimum that a home must have in order to even be considered.

Of course, no one wants to buy the bare minimum, so here is a look at ways to identify your wants from your needs to come up with a perfect wish list for your buyer’s agent.

Start with a Dream Home List — It doesn’t hurt to list all the things you’d ideally have in a home, and then begin whittling down from there. Consider that you really want hardwood floors. Are you willing to even consider a home with an alternate hard surface 15

such as laminate, Pergo, or tile? Perhaps your list can be modified to hard surfaces, rather than being focused exclusively on hardwood.

Decide if You’re Willing to Compromise — Consider that you really want your children to attend specific schools. And you also don’t want to commute more than 10 miles. Are you willing to be a bit flexible with the commute, in order to get the location you desire? Identifying give-and-take scenarios will be helpful for your REALTOR® in finding the right home for you.

Determine if Certain Characteristics Can Wait — If you have “upgraded appliances” on your needs list, but you find a home that meets all the rest of your requirements, determine whether you’re willing to postpone the purchase of those items to get most of the things you really want in a home now. The same may be said for dated carpet. If you really want hard surfaces, are you willing to live with what is in a home now, and replace it later?

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There are many printable house hunting forms available online which can help you to begin identifying your unique wants and needs. If you’ve retained a buyer’s agent first, it’s likely that they will be able to provide you with a similar checklist.

It is in your best practice to spend as much time as necessary on this list, to ensure that you really do wind up with the best home to meet your needs, rather than having to adapt to the traits of the home after you’ve moved in. You’ll also ensure that you won’t waste valuable time viewing homes that simply won’t work for you. It may be helpful for you to consider what you love about your home now, and the things that are inconvenient so you can continue to be as specific as possible.

When in doubt, about whether a trait you want in a home is a need, or just something you really want, reach out to your agent. Real estate agents are in the business of helping people, and there’s no doubt they’ll be glad to offer advice, suggestions, or a perspective you haven’t considered.

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Buyer beware —

Common pitfalls to avoid when purchasing a home

Buying a home is not only a large financial investment, it’s also a significant emotional investment. With so much at stake, the process deserves your undivided attention. To ensure that buying a home goes as smoothly as possible, it’s wise to learn from the mistakes of others, and avoid common home buying errors. Here is a list of six common pitfalls to avoid when purchasing a home.

Falling for a Home Before Your Finances Are in Order — Nearly all REALTORS® will give you the same advice when it comes to beginning your search for a new home or your first home. That advice will be: make sure you have your mortgage preapproval in place. This will prevent you from falling for a home outside of your budget, thereby safeguarding you from disappointment. It will also save you time, as your REALTOR® will be able to find the greatest selection of homes that meet your needs, within your price range.

Attempting to Buy a Home Without a REALTOR® Representing You — Many people do buy homes without the advocacy of a buyer’s agent.

However, it’s not recommended for first-time or relatively inexperienced buyers. This is because there are so many moving parts in a real estate transaction, that even small missteps can lead to missing out on the perfect home. Because REALTORS® spend every day immersed in the process of buying and selling homes, they are a veritable treasure trove of information. From knowledge of various neighborhoods, to premium negotiating skills, to advocating for various improvements or concessions, having a reputable buyer’s agent working on your behalf is in your best interest.

Buying the Most Expensive Home You Can Afford — There’s something to be said for exercising a little financial restraint when it comes to buying a home. In other words, it’s not necessarily in your best interest to buy a home that totally maxes out your spending power. Instead, consider keeping a bit of money on hand, for things like upgrades, or unplanned expenses such as having to replace a furnace or hot water heater.

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Buying a Home You Don’t Like — In effort to secure a foothold in the real estate market, many firsttime home buyers purchase homes that they just really don’t like. This should be avoided at all costs. That’s not to say that your first home must be your dream home, but you should find more things you love about it, than things you dislike about it. Buying a home, just because you can, or feel like you need to, can lead to buyer’s remorse and/or resentment. Make sure that you can truly see yourself living in a home, and enjoying it before you make an offer.

Purchasing a Home When You Plan to Move Again Soon — Life happens, and there is no way to fully anticipate every possible scenario, such as having to move because your job suddenly transfers you. However, if you know for certain that you’re planning to move within a relatively short period of time, it’s not in your best interest to buy a home, only to live in for a very short time. Doing so can lead to losing money, particularly if the market declines in the short time you’re in the home, or if you’ve purchased with a no money down loan.

Buying Without a Home Inspection — Different states have different laws on housing inspections.

However, no matter where you live, you should never miss the opportunity to have a full inspection conducted to confirm the home you’re planning to purchase is foundationally, electrically, and structurally sound.

Buying a home without having a full understanding of potential problems is unwise in all cases. Insist upon a home inspection before you buy.

Buying a home should be an exciting experience, not an emotionally or financially exhaustive endeavor. In effort to enjoy the process, it is smart to engage the services and expertise of a licensed real estate agent, who can answer any and all questions you have, negotiate on your behalf, safeguard you from potential delays and missed opportunities, and educate you along the way.

With an ally working on your behalf, the process of finding and buying a home can be a lot of fun, and there’s a good chance you’ll make a friend along the way.

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Tricks of the trade —

Improve your time management skills One of the greatest gifts that being a mortgage professional provides, lies in the fact that no two days are ever the same. It keeps you on your toes, keeps your mind active, and your days often seem to pass in the blink of an eye. With amazing opportunities for personal success, all the while being able to genuinely help others, there’s frankly no other career quite like being a mortgage professional.

However, a career in origination is certainly not known for being a particularly predictable profession. Appraisals can come in low. Borrowers misplace vital paperwork.

Inspections are delayed. And sometimes that’s just a Thursday! It can seem downright impossible to plan your days, let alone stick to your plan.

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That’s not to say that you can’t make the most of each day, even when the not-so-uncommon curveball is thrown your way. While you cannot control potential challenges that may arise, nor can you make the day any longer, there are ways you can be sure to make the most of your time.

Here are seven tips for best managing your time as a mortgage professional.

Acknowledge Your Business Goals — Remind yourself of your short-term and long-term business goals each day. That way, you’ll be able to look at the big picture when scheduling your days, and your weeks.

By reminding yourself of your immediate goals, and

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Learning to manage your time as a busy mortgage originator can take effort and dedication. But it can also feel like a life-saver in terms of keeping you calm, cool, and collected in a career synonymous with constant change and unmeasurable rewards.

where you would like your business to be next quarter, next year, or five years from now, you’ll keep your sights firmly focused on working towards those overarching goals, even when things get hectic.

Put Effort into Prioritizing — There are many methods of prioritizing your tasks, but one of the simplest ways to do so is to sort your various responsibilities into categories so you can take a clear look at what is most time sensitive, what can be put off if necessary, and what items can be postponed easily.

By prioritizing your tasks, you’re less likely to stray from your plan, and avoid feeling like you’re busy, yet unproductive.

Use Technology to Track Your Time — Time tracking and time management apps can be incredibly useful for originators on the go. By logging how you spend your time, you’re likely to see patterns, thereby being able to identify your most productive days, or pinpointing tasks that wind up taking more time than they should. When you can look at how you planned to spend your day, and compare it with how you actually spend your time, you’ll be in a better position to see where adjustments need to be made.

Learn to Live with Saying No — As originators, it’s hard not to say yes to every request, invitation, or opportunity that comes your way. After all, you’re in the business of customer service. But you’re also in the business of being honest, which means that sometimes you’re going to have to say no to a request when you simply don’t have the time, and that’s ok. Your clients Copyright Featured Agent Magazine

may see you as a super hero, but you must remember you’re only human and can only take on so much.

Minimize Distractions — Multi-tasking is a way of life for most originators, but there can be too much of a good thing. Try reducing the number of notifications you receive from various apps, or social media during times when you need to focus. Or, consider silencing your phone while you’re working on a file.

Little distractions can lead to big delays, and wasted time.

Decide to Delegate — Learning to delegate can be a challenge, but committing to do so can significantly lighten your load, and free up extra time.To get started, it may be beneficial to delegate the least time sensitive items until you become comfortable with entrusting others to help you meet your goals.

Sleep, Eat, Exercise, Repeat — Getting plenty of rest ensures that your mind is poised to function at its peak level. Likewise, a balanced diet will help you to maintain your energy level throughout the day. Exercise is also a powerful tool for learning to manage your time, through relieving stress and providing a boost of endorphins to feel good during the day and sleep well at night.

Learning to manage your time as a busy mortgage originator can take effort and dedication. But it can also feel like a life-saver in terms of keeping you calm, cool, and collected in a career synonymous with constant change and unmeasurable rewards.

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