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Tag: Mortgage Professional

Chapter 99: Appraisals — Know When to Hold ‘Em

An excerpt from the book Be The Better Broker’ Volume 3 Appraisals: Know When to Hold ’Em “You’ve got to know when to hold ’em.” –Kenny Rogers What happens when your client asks for a copy of the appraisal? Short Version Do not release an appraisal report to a client — ever. Long Version Think twice about […]

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What If Interest Rates Quintuple?

We shall go no further than this final post on this theme. The point is made. Over the past three posts we’ve looked at (increasingly) extreme rising interest rate scenarios through the lens of household mortgage payment. Specifically, what happens to the average homeowner’s mortgage payment as rates double, tripe, quadruple… and today you guessed […]

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What If Interest Rates Triple?

What If Interest Rates Triple? Rather than make noise about how ‘rates can only go up’ – which is a ridiculous statement. Rates can go any one of 3 ways at any time; up, down, or flat. And when they do move, it is typically in small increments. Although I guarantee you, some media outlet […]

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What If Interest Rates Double?

Every year, since always it seems, there are headlines warning us about interest rates.  Interest rates about to rise.  ‘Prepare For Interest Rate Shock’, being one of my local favourites, as the Bank Of Canada proceed to cut rates 0.25% the very next day. The main problem with (all?) the headlines and the stories is […]

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Learning The Lenders

An excerpt from Chapter 77 of Be the Better Broker, Volume 3. Lenders vary. You don’t need to know every single lender’s products and guidelines to be successful. You need somewhere between three and seven lenders or lender connections. Ninety percent of your business will likely be placed with three or four lenders consistently. Although […]

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Industry Relationships

An excerpt from Volume 2 of Be the Better Broker. Every interaction you have with an underwriter, a BDM, a team lead, a lender VP and so on during the processing of a file—even just in a casual conversation at a trade show—is you either building or burning bridges. Your primary goal is to recognize […]

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Big Ideas – A Cautionary Tale

I can recall one Mortgage Broker saying to me upon exiting the business after less than four years, “I can only conclude that people do not like me.” This was a person paying not just an economic toll, but clearly an emotional one as well. On paper this Broker had every reason to have been […]

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Don’t Cold Call

Few among us look forward to making cold calls. We know what it’s like to be on the receiving end. When someone cold-calls me, he is intruding on my life without an invitation. He is interrupting whatever I may be doing. This can bring out a side of me that is abrupt, perhaps rude: the […]

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#BreakTheMold

Last April I invested ten hours into an interactive workshop hosted by master storyteller Vinh Giang. And an often repeated message each day was to #breakthemold, to step outside our comfort zone, and this weeks post reflects an effort to do just that… #workinprogress. The focus of the workshop was ‘tuning our instrument’, said instrument […]

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