Clients... or followers?

Hi Benjamart,   I just got the first draft of my book back from the designer - and it’s running at 270 pages.   (If you ever need to reach something at the top of the closet, you know what to stand on.)   The first chapter is about finding your “why” – the reason you do what you do.   So… why and I writing about your “why”? Because it’s critical to making your marketing successful and your business life happy and fulfilling.   Here’s the thing:   People gravitate to businesses and businesspeople that have a purpose to doing what they do.   When it’s a choice between a soulless, barren, money-making enterprise and you – the purposeful businessperson – the decision is easy.   You can connect with someone with a “why”.   Indeed, when you are able to explain your “why”, you find that you don’t just have clients, you have followers.   You have people to want to listen to what you have to say.   That means that not only do you get more clients, but you get clients who are more compliant and willing to pay more.   Because they want meaning too!   For all of this, I encourage you to consider your newsletter as part of your “why”.   If, for example, you are in business because you know you can help people, then it’s pretty much obligatory that you educate them. After all, they will be better off when they hear what you have to say.   A newsletter helps with that.   And if you can share your “why” in your newsletter (we encourage you to edit it to do that, if you wish), you’ll win followers even faster.   So start thinking of your “why”.   And then share it.   You’ll love it… and your clients will love you too.   Here’s where to get your own newsletter – free for the first month:   http://www.readymortgagenewsletters.com   Simon Payn   If you no longer wish to receive our emails, click the link below: Unsubscribe Ready to Go Newsletters The Village Barn, 195 Highland Street PO Box 261 Haliburton, Ontario K0M 1S0 Canada (877) 976-6368

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EB ending: Compensation pitfalls go beyond CFPB LO rule

The Consumer Financial Protection Bureau's complicated loan originator compensation rule isn't the only law hemming in LO comp. Other laws apply as well...and can disqualify a plan that meets the CFPB's strictures. Learn more about the multiple laws that govern originator compensation at Inside Mortgage Finance's Feb. 26 webinar. An Inside Mortgage Finance Webinar Solving the LO Puzzle: The Do's and Don'ts of Compensation Thursday, Feb. 26, 2:30 pm ET Early-bird discount ends soon! Setting compensation for mortgage loan officers has never been easy. But this year the twin challenges of increased competition and a tough regulatory environment have created a business puzzle that is extremely tough to solve. In particular, the intricacies of the Consumer Financial Protection Bureau's loan originator compensation rules – now a year old – raise more questions than answers about how to attract top-producing LOs without violating the law. Have a question you'd like our panel to address? Register now and pose your question before the webinar. While some of the restrictions on LO compensation are demarcated by bright lines, others are less cut and dry. As a result, recruitment and incentive plans may garner only thumbs down at one lender while across town what seems to be the same approach gets put in place by a competitor. At the same time, the CFPB has signaled it will be tough on LO comp issues, bringing enforcement actions based on the Federal Reserve's older and arguably much simpler rule. All this makes finding a winning formula a hard task, particularly in a market characterized by fewer mortgage originations and increased competition. Learn more about what triggers compensation rule violations—and what types of incentives pass the current regulatory test—at the Inside Mortgage Finance webinar "Solving the LO Puzzle: The Do's and Don'ts of Compensation" on Thursday, Feb. 26, 2:30 pm ET. During the webinar, our experts will answer YOUR questions, which you can start submitting as soon as your webinar registration is confirmed. The panel of experts includes:   Richard Andreano Mortgage Banking Group Practice Leader Ballard Spahr Amy Durant Member Bodman Kristie Kully Partner K&L Gates  Among the topics we'll cover during the 90-minute webinar: Reducing compensation because of errors or unforeseen costs Varying compensation by product type Referrals Bonuses Splitting commissions Using compensation to control origination quality Pick-a-pay compensation plans Changing compensation plans And your question submitted before or during the webinar! Early-bird discount ends soon! Your Webinar registration includes these added benefits: Webinar attendance for you and your entire team; A webinar manual with a program outline, speaker bios and presentations, and pertinent articles on the subject from Inside Mortgage Finance and our other newsletters; A full transcript, emailed to you when you take our post-conference survey; and The opportunity to ask your question of the panel before or during the webinar. Cancel before 5:00 pm ET 2/24/15 for full refund less $25 fee. You will receive an email confirmation and instructions on submitting your pre-webinar questions shortly after completing your registration. You may also contact us at (301) 951-1240. Two Ways to Register: 1. REGISTER ONLINE 2. REGISTER BY PHONE: Call Erika at 800-570-5744 or 301-951-1240. Our Customer Service representatives can answer any questions and register you in minutes. For one low rate you and your entire staff (in one room) can participate in this exclusive Inside Mortgage Finance webinar without ever having to leave your office. You'll come away with firsthand, actionable information. NOTE: Call for discounted rates for multiple sites. What Is a Webinar? It is a live event in which you listen to presenters either through your phone or through your computer while viewing their presentations online.  Early-bird discount ends soon!

Inside Mortgage Finance Publications, Inc. 7910 Woodmont Avenue, Suite 1000, Bethesda, MD 20814 Tel: 800-570-5744, www.insidemortgagefinance.com

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. If you do not wish to continue receiving information of practical value from Inside Mortgage Finance Publications, Inc., often with money saving offers, please click here to unsubscribe. By opting out of this program, you will no longer benefit from getting market news and data on the latest audio conferences, newsletters, and special reports.

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Like a boy who loves trains

Hi Benjamart,   Many seven-year-old boys love trains. But not many write a blog about them. And fewer still have so much success that their blog wins sponsorship from Canadian Pacific Rail and he gets to hang out with the company once per month. But this is what happened to Nathan. Why? Because he has passion. He… just… loves… trains! And it shows. Now… we’re not seven-year-old boys. We have all those adult responsibilities to think about. But can we rediscover our passion for what we do? I think so. Because when you sit down and consider it… there’s a lot that we can get quite passionate about. … about how we can help people. … about how we can stop people making mistakes. … about the ins and outs of what we do and how we do it. … about why we do what we do. When you take a minute and really think about – there’s a lot of passion inside us. And it’s this passion we can share on our websites and in our newsletters. Here’s the thing. Most people don’t do this. They’re can’t think like a seven-year-old boy. But if you can… well, then you’re light years ahead of almost everyone else. (Plus – and this is a big bonus – you also enjoy what you are doing so much more.) So, let’s get started. We can provide you with a ready-made newsletter that you can edit as much as you wish. Try it for a few months and see if your passion comes back to you in multiples with new business. http://www.readymortgagenewsletters.com   Simon Payn   If you no longer wish to receive our emails, click the link below: Unsubscribe Ready to Go Newsletters The Village Barn, 195 Highland Street PO Box 261 Haliburton, Ontario K0M 1S0 Canada (877) 976-6368

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Bonus clients with extra love attached

Hi Benjamart,   Got to love referrals. It’s like getting bonus clients with extra love attached. We had one yesterday from a client who has been with us for two years. She did all the selling for us. Thank you, Tammy! So remember… Your newsletter will help you get referrals because it’s like a super-powered business card. Imagine… instead of your happy client having just your business card to give their friend, they now have your newsletter. … a newsletter that shows you are a knowledgeable, likeable, experienced person! Of all the recommendations that person is likely to be getting, who do you think they are going to choose? So start getting more clients (and referrals) today by sharing your own customer newsletter. The first one is free. http://www.readymortgagenewsletters.com   Simon Payn   If you no longer wish to receive our emails, click the link below: Unsubscribe Ready to Go Newsletters The Village Barn, 195 Highland Street PO Box 261 Haliburton, Ontario K0M 1S0 Canada (877) 976-6368

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What to consider if you want to break out of the QM box.

Many lenders are tempted currently to limit their originations to loans that meet the Consumer Financial Protection Bureau's qualified mortgage standards, calculating that doing so will reduce their exposure to enforcement actions related to the ability-to-repay rule as well as to litigation from borrowers threatened by foreclosure. But experts suggest that it also severely constrains business opportunities, leaving QM-only lenders with a smaller pool from which to draw originations. They also point out that small margins on GSE lending and vigorous enforcement and litigation from the FHA are further downsides to staying within the qualified mortgage's safe harbor. Plus recent studies from Moody's Investors Service and Andrew Davidson & Co. suggest that the risk and reward of non-QMs isn't dramatically different from that of qualified mortgages, as long as underwriting is strong. Explore the pros and cons of lending beyond the QM limits in IMF's Guide to Non-Qualified Mortgages. In addition to learning why it might make strong business sense to be active in this market, estimated at 10 percent or more of current business, you'll also gain additional information on pricing, secondary market considerations and how to protect your company from ability-to-repay violations. Partial Table of Contents The CFPB's Ability-to-Repay Rule ATR Requirements Verification of Third-Party Records Violation of the ATR Rule Differences Between a QM and Non-QM Concerns from Portfolio Lenders Lender Insight Potential Market Size Tips for Originating Non-QMs Types of Non-QMs Underwriting Changes Credit Risk Pricing Non-QMs Litigation Risk Technology Secondary Market Underwriting Guidelines Risk Retention Rating Non-Agency MBS with Non-QMs Increased Scrutiny Don't shut yourself out of 10 percent or more of the current originations market: Learn more about non-QM lending.

Inside Mortgage Finance Publications, Inc. 7910 Woodmont Avenue, Suite 1000, Bethesda, MD 20814 Tel: 800-570-5744, www.insidemortgagefinance.com

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. If you do not wish to continue receiving information of practical value from Inside Mortgage Finance Publications, Inc., often with money saving offers, please click here to unsubscribe. By opting out of this program, you will no longer benefit from getting market news and data on the latest audio conferences, newsletters, and special reports.

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What types of loan originator incentives aren't forbidden by the CFPB?

An Inside Mortgage Finance Webinar Solving the LO Puzzle: The Do's and Don'ts of Compensation Thursday, Feb. 26, 2:30 pm ET Setting compensation for mortgage loan officers has never been easy. But this year the twin challenges of increased competition and a tough regulatory environment have created a business puzzle that is extremely tough to solve. In particular, the intricacies of the Consumer Financial Protection Bureau's loan originator compensation rules – now a year old – raise more questions than answers about how to attract top-producing LOs without violating the law. While some of the restrictions on LO compensation are demarcated by bright lines, others are less cut and dry. As a result, recruitment and incentive plans may garner only thumbs down at one lender while across town what seems to be the same approach gets put in place by a competitor. At the same time, the CFPB has signaled it will be tough on LO comp issues, bringing enforcement actions based on the Federal Reserve's older and arguably much simpler rule. All this makes finding a winning formula a hard task, particularly in a market characterized by fewer mortgage originations and increased competition. Learn more about what triggers compensation rule violations—and what types of incentives pass the current regulatory test—at the Inside Mortgage Finance webinar "Solving the LO Puzzle: The Do's and Don'ts of Compensation" on Thursday, Feb. 26, 2:30 pm ET. During the webinar, our experts will answer YOUR questions, which you can start submitting as soon as your webinar registration is confirmed. The panel of experts includes: + Richard Andreano, Mortgage Banking Group Practice Leader, Ballard Spahr + Amy Durant, Member, Bodman + Kristie Kully, Partner, K&L Gates Among the topics we'll cover during the 90-minute webinar: Have a question you'd like our panel to address? Register now and pose your question before the webinar. Reducing compensation because of errors or unforeseen costs Varying compensation by product type Referrals Bonuses Splitting commissions Using compensation to control origination quality Pick-a-pay compensation plans Changing compensation plans And your question submitted before or during the webinar! Your Webinar registration includes these added benefits: Webinar attendance for you and your entire team; A webinar manual with a program outline, speaker bios and presentations, and pertinent articles on the subject from Inside Mortgage Finance and our other newsletters; A full transcript, emailed to you when you take our post-conference survey; and The opportunity to ask your question of the panel before or during the webinar. Cancel before 5:00 pm ET 2/24/15 for full refund less $25 fee. You will receive an email confirmation and instructions on submitting your pre-webinar questions shortly after completing your registration. You may also contact us at (301) 951-1240. Two Ways to Register: 1. REGISTER ONLINE 2. REGISTER BY PHONE: Call Erika at 800-570-5744 or 301-951-1240. Our Customer Service representatives can answer any questions and register you in minutes. For one low rate you and your entire staff (in one room) can participate in this exclusive Inside Mortgage Finance webinar without ever having to leave your office. You'll come away with firsthand, actionable information. NOTE: Call for discounted rates for multiple sites. What Is a Webinar? It is a live event in which you listen to presenters either through your phone or through your computer while viewing their presentations online.

Inside Mortgage Finance Publications, Inc. 7910 Woodmont Avenue, Suite 1000, Bethesda, MD 20814 Tel: 800-570-5744, www.insidemortgagefinance.com

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. If you do not wish to continue receiving information of practical value from Inside Mortgage Finance Publications, Inc., often with money saving offers, please click here to unsubscribe. By opting out of this program, you will no longer benefit from getting market news and data on the latest audio conferences, newsletters, and special reports.

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My grandfather and Oscar Wilde

Hi Benjamart,   I don’t think my grandfather was a fan of Oscar Wilde, but he did quote the writer from time to time. You, boy, know the price of everything and the value of nothing! (He always called me boy.) I didn’t really understand what my grandfather (or Oscar, come to that) meant at the time. But now I’m older and (slightly) wiser – and I think I get it. One thing I do know: it’s a relevant quote for business. If you switch “value” for “return on investment”, you’ll see what I mean. Investing in marketing, leads, or salespeople has a price – but it also has a return on investment. So a painful upfront fee should be returned in multiples in the months ahead. That’s why I am flummoxed (another grandparently word) when people say that sending a newsletter is too expensive. Because – when you think about it – the cost of a newsletter is tiny compared to the benefits. One closed transaction pays for months, no, years, of newsletters. (It’s why businesses that do it for a year or more seldom stop, or those that do stop often come back and start again!). Yes, it takes a little faith (and some hard work), but it’s hard to deny that any business that spends time and money building a strong, long-term relationship with clients will struggle with future income. Here’s where to start with your own newsletter. The first month is free so you can see if you like it or not. http://www.readymortgagenewsletters.com   Simon Payn   If you no longer wish to receive our emails, click the link below: Unsubscribe Ready to Go Newsletters The Village Barn, 195 Highland Street PO Box 261 Haliburton, Ontario K0M 1S0 Canada (877) 976-6368

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