Friday, July 26, 2013

The Time Is Now! Low Mortgage Rates Won't Last!

If your clients have been waiting for the right time to buy, that time is NOW! Mortgage rates are on the rise, in fact they are rising at an unprecedented rate. During the crisis of 2008 rates dropped dramatically, at this time last year rates were around 3.5%. At the end of June of this year, rates jumped .5 percent, from 4% to 4.5%, the largest week over week rate increase in over 25 years! These jumps can largely be attributed to the housing recovery, and the steps set in motion by the Federal Government to pave the way for the housing boom. My Rate Mailer provides loan officers with the best online mortgage marketing mailer, allowing your clients to always be informed, no matter what the change in rates may be.

Information provided by CBS News

(MoneyWatch) Although mortgage rates are famously hard to predict, there is consensus that they are moving in only one direction: up.

"Interest rates will probably fluctuate throughout the year but generally will follow an upward trend line," said Grant Moon, president of VA Loan Captain, a mortgage firm targeted to veterans. "Interest rates as a whole will rise a lot faster than they fall."

At this time last year, interest rates on benchmark 30-year fixed-rate loans were hovering around record lows at 3.5 percent, or even less. They bottomed out at the end of November, when rates hit 3.31 percent, according to the Freddie Mac Primary Mortgage Market Survey. And until recently rates had generally remained well below the 4 percent mark.

But in just the past month rates have jumped to more than 4.5 percent, a mark we haven't surpassed in more than two years. At the end of June, rates jumped nearly 0.5 percent, the largest week-over-week increase in more than a quarter century.

"The degree that interest rates have gone up in such a short period of time is really second to no other time, so I think that has gotten people's attention, but I am really not concerned about it," said Hale Walker, co-founder and senior vice president of residential mortgage lender Michigan Mutual. "I personally would be surprised if we saw interest rates over 4.5 percent by the end of the year."

Rates have been on a bit of a rollercoaster ride, charging up and down from week-to-week or even day-to-day.

"I think volatility will be the norm for the rest of the year," said Josh Moffit, president of Silverton Mortgage Specialists, a direct mortgage lender in Atlanta. "However I don't feel we'll have the large moves we've seen in the past 30 days or so."

He believes that mortgage rates will remain in the low 4 percent to low 5 percent range.

Brian Koss, executive vice president of Mortgage Network, a mortgage banker with branches throughout the eastern U.S., agrees. "The consensus seems to be that we can expect any changes in rates to range between an increase of 0.5 percent and a decrease in .25 percent," he said.

The big jumps in interest rates in recent months have largely been driven by the housing market's strong recovery. That has led the Federal Reserve to start scaling back its monthly purchases of Treasury on mortgage bonds sooner than expected. The central bank launched the bond-purchasing program during the worst of the financial crisis in 2008 to help lower long-term interest rates and stimulate economic activity.

The wild card in forecasting mortgage rates? Jobs. Although the labor market has picked up speed this year, averaging roughly 200,000 monthly job gains, the Fed has pledged to maintain its low-interest policy until the economy strengthens and unemployment falls significantly from its current level of 7.6 percent.

Fed Chairman Ben Bernanke reiterated last week that it would not automatically raise the benchmark federal funds rate, the rate for intrabank loans, once the jobless rate fell to 6.5 percent and inflation topped 2.5 percent. Rather, the bank will merely consider these thresholds in exploring whether to push rates up.

"With the job market still being very tough, it will be hard for rates to really jump up into 5 or 6 percent," Moffit said. "In my opinion, the unemployment rate will need to dip below 7 percent for that to happen; and while that is possible, it seems unlikely by year-end."

That means homebuyers still have time to capitalize on low rates. They may not return to historic lows, but they're pretty close.

"We always say, there's nothing to worry about below 8 percent," Walker said.

Friday, July 19, 2013

Three Social Media Tips for Loan Officers

While the mortgage rate roller coaster is still causing major ups and downs, we can always rely on one constant, THE INTERNET! My Rate Mailer provides loan officers with the best online mortgage marketing mailer, allowing your clients to always be informed, no matter what the change in rates may be. You are also able to post your mailer up on ANY SOCIAL MEDIA site, to spark interest and attract new clients. Here are a few tips to keep your client base engaged while the roller coaster keeps coasting!

Start Now

With Facebook membership over 500 million strong and Twitter approaching 200 million users, it is evident that the future of the Internet is geared towards its “social” aspect. However, the serious potential offered by these platforms can lead to substantial learning curves. The sooner you become acquainted, the sooner you can begin employing it to your advantage.


When it comes to social media, consistency is king. Align organizational strategies and messages across all channels. Link your Twitter and Facebook pages, but above all, keep it constant! This will aid you in establishing a brand identity and, in turn, building brand equity – known as the “Holy Grail” to marketing specialists.


Using Social Media accounts is a great way to connect with your client base, however sending out a weekly newsletter or mailer may help to set you apart from the herd. When providing consistent and effective communication directly to your buyers inbox, your clients will see you in a different light. These days everyone is using their Facebook and/or Twitter pages to communicate general information, however a personalized mailer with specific information sent directly to your client will make you their go-to lender!

Wednesday, July 3, 2013

Close more Loans! - What You Can Do To Keep Buyers Buying.

Reuters recently reported that the rise in mortgage rates has cut into the home buyer demand. This would be troubling news for any lender or loan officer in the industry, however there may be a simple solution to help keep your business in the green, My Rate Mailer.

"Expectations the Federal Reserve will slow its economic stimulus program by the end of the year pushed mortgage rates higher last week, sapping demand from potential home buyers, data from an industry group showed on Wednesday."

Is there anything loan officers can do in a time like this? The answer is YES, online mortgage marketing! Buyers need to feel a sense of certainty when looking to purchase a new home. The roller coaster of mortgage rates is not providing the best arena for new home buyers, because the rates are constantly up and down, giving a sense of uncertainty and discomfort to buyers. My Rate Mailer keeps your clients in the know, providing them with the rates you offer first and foremost. By providing your clients with your rates as soon as they change, keeps clients informed and feeling valued. Don't let your client get caught up in the latest mortgage news headlines, the constant ups and downs, provide them with YOUR rate first, keep them informed and feeling a sense of comfort when purchasing a new home.

Reuters - Rise in mortgage rates cuts into home buyer demand

Rates measured by the Mortgage Bankers Association jumped to the highest level since July 2011, which also cut into refinance activity. The share of refinance applications fell to the lowest level in more than two years.

Interest rates on fixed 30-year mortgage surged 12 basis points to average 4.58 percent in the week ended June 28, the MBA said.

"At these rates, many fewer homeowners have an incentive to refinance," Mike Fratantoni, MBA's vice president of research and economics, said in a statement.

"Purchase application volume also declined, but not nearly to the same extent, as affordability remains strong."

However, a separate report from mortgage financier Freddie Mac, covering the week ending July 3, showed average rates for 30-year mortgages heading slightly lower. Market concern about an early reduction of Fed stimulus eased somewhat during the period, an economist said.

Rates have been rising since early May, with the increase accelerated by comments from Fed Chairman Ben Bernanke last month that the central bank expects to wind down the pace of its quantitative easing program later this year if the economy improves as expected.

The Fed has been buying $85 billion a month in bonds and mortgage-backed assets to keep borrowing costs low and stimulate economic growth. The historically low mortgage rates have helped lure in buyers as the housing market gets back on its feet.

The recent higher cost of mortgages has raised concerns that the increase could dampen demand and slow the housing recovery, though most economists do not expect it to be derailed. Even with the increase, rates remain historically low.

While the rise in rates had appeared to cause some potential buyers to get into the market earlier in June, MBA's seasonally adjusted index of loan requests for home purchases decreased 3.1 percent last week.

Refinancing activity was hit much harder and the index tumbled 15.6 percent last week. The refinance share of total mortgage activity slumped to 64 percent of applications from 67 percent the week before. It was the lowest level since May 2011.

The overall index of mortgage application activity, which includes both refinancing and home purchase demand, slid 11.7 percent.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

The Freddie Mac report showed average 30-year fixed rate mortgages for the week ending July 3 falling to 4.29 percent from 4.46 percent last week. At this time last year the rate averaged 3.62 percent.

The Primary Mortgage Market Survey also showed that the 15-year fixed-rate mortgage averaged 3.39 percent this week, down from last week's average of 3.50 percent.

"Fixed mortgage rates fell over the holiday week as market concerns over the timing of the Federal Reserve's pullback in bond purchases eased somewhat," said Frank Nothaft, vice president and chief economist for Freddie Mac.

Tuesday, June 25, 2013

Bad Math Equals Bad Mortgage

A recent study published by CNN shows that borrowers with poor math skills made up the highest percentage of home owners that foreclosed on their homes. In fact poor math skills resulted in borrowers being FIVE TIMES more likely to default on their loans! My Rate Mailer gives loan officers the opportunity to do the math for their clients in the most efficient and effective way possible. With My Rate Mailer, you're not only building a strong online mortgage marketing campaign but also gaining your clients trust. Do the math for them, save your clients time and money while closing more loans! An example from the study shows that most borrowers have the most difficult time computing interest rates!

"The simplest question asked them how much a $300 sofa would cost at a half-price sale. The most difficult asked how much a savings account of $200 would grow to after earning 10% interest for two years."

Do the math for the clients, sign up with My Rate Mailer today and close more loans!

Tuesday, June 11, 2013

Loan Officer Sales Advice

In today's mortgage market, buyers are looking for the best rates they can find. They want to be kept informed about the housing market and ever changing mortgage rates. My Rate Mailer gives busy loan officers the opportunity to generate professional rate sheets to send out to any or all clients, in the most efficient and effective way possible. Online mortgage marketing techniques now offer loan officers the opportunity to connect with their buyers and agents, keeping them engaged and informed about market rates and even specific loan requests. Don't wait sign up today at My Rate Mailer, and close more loans!

Ask for referrals

If you just closed a loan with a client who had a great lending experience, as if they know of a friend, co-worker, or family member who is also in need of a loan officer. A good loan officers will find their next client instead of sitting around, waiting for the phone to ring. My Rate Mailer offers the opportunity to gain more referrals without the hassel of continued online mortgage marketing attempts. Clients can easily copy and paste your Mailer to any social media site or forward your mailer with the simple click of a button. Save time and money with using My Rate Mailer!

Be accessible

For most of your clients, this is the most important purchase of their lives and they want to know that you will be there with answers when they need them. Be accessible via cell phone and e-mail, and even on your social networking accounts. A client will readily give your name and number to a friend in need of mortgage assistance if they had an easy experience. My Rate Mailer puts you in the forefront of your clients inbox, demonstrating that you are always available to them. Clients will see your rates as soon as they change, giving them a sense of comfort and trust in your abilities as a loan officer.

Don’t wait for them

Go through your database and look for opportunities—they are right there in front of you. The best plan of action is to set up an account with My Rate Mailer, which will import your list of clients, giving you the ability to contact them, providing them with the opportunity to save more money on a refinance. Yes, we know that rates are low right now, but they may not – they aren’t the mortgage experts, you are.

Wednesday, May 22, 2013

Lenders, Now Is the Time!

If your clients are looking to refinance or buy a home here are some tips to get them moving! My Rate Mailer helps lenders like you get your clients "moving" on their mortgage! My Rate Mailer uses online mortgage marketing to help lenders get the most out of this years housing boom. My Rate Mailer is the best way to gain a clients trust. Your mailer will help to close more loans by using constant and effective communication. With your mailer on the top of their inbox daily, your clients will be informed, and feel they are able to communicate with you openly. NOW is the time to buy, don't fall behind, make sure your clients know you are their go-to lender!

Sign up for My Rate Mailer today and get your online mortgage marketing plan in action TODAY!

Buyers, get moving

With rates near the bottom and home prices on the rise, it's still a perfect time to buy a house. If you can afford a home and qualify for a mortgage, this may be your last chance to take advantage of the market and own a home for less. To speed up the homebuying process, get a mortgage preapproval before you start shopping.

Ensure that your credit is golden

Credit standards remain tight. As new mortgage rules are unveiled in 2013, the standards are not expected to loosen. If you plan to get a mortgage anytime soon, you must treat your credit as one of your most valuable assets. Most lenders want to see a spotless credit history of at least a year on your credit report. You'll need a credit score of at least 720 to get the best rate. Borrowers with a credit score of 680 or more can still get a good deal, but the lower your score, the harder it will be to get approved.

Want to pay off your mortgage earlier?

If you are one of those homeowners who dream about being mortgage-free, the low-rate environment may be a good opportunity to refinance your 30-year mortgage into a 15- or 20-year loan. But make sure you can really afford the slightly higher payments on the shorter loan and that you have some money saved for emergencies.

Tuesday, May 14, 2013

Mortgage Tips for 2013

Whether your clients are looking to refinance or buy a home, 2013 is the time to do so! Using online mortgage marketing is the best way to take advantage of the housing boom of 2013. Potential buyers are looking for loan officers they can put their trust into. My Rate Mailer is the best way to gain a clients trust and business. With your mailer on the top of their inbox daily, your clients will be informed, and feel they are able to communicate with you effectively. 2013 is the time to buy, make sure you are the go-to lender for your clients! Sign up for My Rate Mailer today and get your online mortgage marketing plan in action TODAY!

Top Tips for Buyers in 2013

Stop procrastinating and refinance

If you haven't refinanced recently, you're probably paying a higher interest rate on your mortgage than you should. Take advantage of today's record-low mortgage rates while they last. Rates are expected to remain low during the first few months of the year, but they should gradually increase. When they do, many borrowers will regret having missed the opportunity to grab the lowestmortgage rate in history.

Give your lender a chance

If you have trouble paying your mortgage, don't ignore your mortgage servicer. There are new programs available for borrowers who struggle to keep up with their mortgage payments, including forbearance for those with FHA mortgages. Lenders have been more willing to work out delinquent loans through loan modifications and even short sales for homeowners who can't afford to stay in their homes. It can be a frustrating process to deal with your lender, but communication is still your best tool.

Shop for a low rate and good service

Even with rates hovering near record lows, you should still shop for the best mortgage deal. Get quotes from at least three lenders and compare not just the interest rate but closing costs and the quality of their service. Favor lenders that have a reputation of closing on time. Start with referrals from friends and relatives when shopping for a lender and read online reviews from other borrowers about the particular lender or mortgage broker you are considering.

Monday, May 6, 2013

More or Less Trust in Loan Officers?

Mortgage news has been buzzing recently with tales of distrust: The US Government vs Bank of America, the US Government vs Wells Fargo, the US Government to pass mortgage reforms through the house, Obama appoints new Mortgage-Finance Regulator. These headlines have been sending the wrong messages to the population, should they trust the mortgage market, why is there so much reform happening NOW, are these reforms in the best interest of the people or another ploy to get mortgages into the hands of buyers who are likely to default? How can you as a loan officer be trusted when the headlines are sending messages of distrust to buyers? My Rate Mailer is a service designed to gain your clients trust. Our personalized mailer is the perfect online mortgage marketing tool, used to send your rates out as frequently as desired, opening the lines of communication and establishing trust with your buyers. Your clients want to be informed and feel as though they are being given the attention they deserve and require. During these times of uncertainty,My Rate Mailer gives clients a peace of mind knowing they are being informed about the best loan rates at the most crucial of times.

Mortgage settlement violations persist in California, group says

NEW YORK -- Violations of a landmark mortgage settlement alleged by New York's attorney general are also widespread in California, a housing advocacy group says.

“Banks aren’t doing what they’re supposed to be doing to help people stay in their homes,” said Kevin Stein, associate director of the California Reinvestment Coalition, a San Francisco-based group that lobbies for low-income Californians. 

New York Atty. Gen. Eric Schneiderman announced Monday he planned to sue Wells Fargo and Bank of America for "flagrantly" violating terms of last year's $25 billion National Mortgage Settlement.

The enforcement action would mark the first time a state's attorney general has cracked the whip on any of the five servicers that signed the settlement. In addition to BofA and Wells Fargo, JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc. were parties to the agreement.

The settlement put in place 304 standards for mortgage servicing aimed at helping smooth the process by which homeowners can get modifications to their mortgages and prevent foreclosures.

The standards prohibit so-called "dual tracking," the practice of foreclosing even while homeowners seek a loan modification. The standards require each customer to get a single point of contact, and also mandate timelines for responses to customers seeking assistance. “There's a lot of frustration that we don’t see compliance with the agreement and we don’t see better outcomes for homeowners who are trying to stay in their homes and for communities that are trying to stabilize," Stein said Monday.

Last  month, the California Reinvestment Coalition released a survey of housing counselors and lawyers that found mortgage servicers were not living up to terms of the settlement.

(news article originally posted on LA Times.)

Thursday, May 2, 2013

15-Year Mortgage Rate Hit Record Low - Do Your Clients Know?

In a report by CNN today, 15 year mortgage rates hit a record low today. With My Rate Mailer your rates are sent out to ALL of your clients as soon as they are updated! My Rate Mailer is the most effective online mortgage marketing tool for lenders, loan officers, and mortgage brokers! Ask yourself this simple question: How many more deals would you close if you were the first rate your clients saw every day, knowing they could depend on you for constant and effective communication? Sign up for your free trial today and get your low rates out TODAY!

Friday, April 26, 2013

Mortgage Rate Roller Coaster

As mortgage rates continue to drop it looks as though the long promised housing recovery is finally upon us! As a loan officer, this is the perfect time to get your online mortgage marketing plan into place. My Rate Mailer is the perfect online mortgage marketing tool, with the simple click of a button your rates can be sent to your entire client base!

Mortgage rates in the U.S. fell for a fourth week, with the 15-year average hitting a record low, helping to strengthen the housing recovery.The average rate for a 30-year fixed mortgage was 3.40 percent in the week ended today, down from 3.41 percent, McLean, Virginia-based Freddie Mac (FMCC) said in a statement. The average 15- year rate dropped to 2.61 percent from 2.64 percent.

Buyers competing for a tight supply of available homes are pushing up prices, while low mortgage rates fuel demand. U.S. house prices jumped 7.1 percent in the year through February, the biggest gain since 2006, the Federal Housing Finance Agency said this week. “The housing recovery does seem to be in place,” Celia Chen, a housing economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said yesterday in a telephone interview. Purchases of new homes rose 1.5 percent in March from the previous month to a 417,000 annual pace, more than economists estimated, data from the Commerce Department showed this week. The average 30-year mortgage rate dropped to a record 3.31 percent in November, according to Freddie Mac.

(originally posted on Bloomberg News)

Wednesday, April 24, 2013

Let's Get Personal...

Self-Promotion through online mortgage marketing has been one of the main keys for success for many Loan Officers in the industry for years. My Rate Mailer offers Loan Officers a way to send personalized rate sheets out to their client base, without the hassel of traditional newsletter templates. My Rate Mailer is easy to use and our staff is always available to help if any issues should arise. Save time and money with My Rate Mailer and start promoting yourself today!

Self-Promotion Success Tips

  • Daily Contacts: Promote yourself in social and business settings.
  • Personal Contacts: Identify personal contacts that represent sales or referral opportunities.
  • Local Businesses: Contact local businesses regarding referral opportunities.
  • Industry Conferences: Attend lending and credit conferences.
  • Community Events: Get involved in community events to network.
  • Community Associations: Become a member of one community association.
  • Trade Shows: Attend industry related trade shows.
  • Speaking Engagements and Articles: Write articles for your local paper or industry periodicals or speak at events.
  • Professional Network Group: Coordinate a ground of lending, credit and financial service professionals to meet monthly.

Wednesday, April 17, 2013

Knowing the Difference: In-Person Marketing vs Online Marketing

As a fairly new company to the mortgage marketing realm, we have been doing our research on existing rate mailers, Loan Officer marketing tools, and Lender websites that are currently available. What we have found is that the more "Tools" or "Tricks" that are offered with each service, the more cluttered and misdirected the message seems to be. We understand that, as a Loan Officer, it is imperative to get yourself out there, promote yourself as a trustworthy and reliable lender, and be consistent and available to your clients. However, including irrelevant and bulky material in your mailer takes away from your business and is misleading to clients. We recently came across a marketing tool specifically for Loan Officers that uses a third party site to not only automatically populate their newsletter with "Mortgage Related Content," but also includes articles used to bait clients, like kitchen tips or sports news. While techniques like this may have worked in the past, there is a line being drawn between marketing in-person and marketing online.


As a salesman, I understand that being well versed in an array of topics is important in gaining clients. However, this tactic does not translate well online. When sending out your rates to interested buyers or realtors it is important to keep in mind that relevance is key. While you may have gained their trust through in-person sales, your mailer should be designed to fit the needs of your service. People are growing more accustomed to online marketing schemes, subject lines designed to get more opens, and bait tactics to get more clicks. My Rate Mailer cuts to the chase, sending your rates to your client base. The mailer is always relevant, and never cold or spammy. Your rates are distributed to your clients, the mailer is personalized to fit your profile, but never includes erroneous information.


In researching online mortgage marketing tools for Loan Officers, we found certain mailers that were designed like mini websites! Think, a mailer with a drop down navigation?! We understand the need to provide information to clients but there is a definite distinction between providing necessary information and providing unnecessary information. Think like the client, whether it is a realtor or interested buyer, they are looking for the best rates, sometimes having to sift through countless websites or other mailers. They want a direct, straightforward mailer. Bulk takes away from you as a lender and distracts or even sometimes frustrates your clients.


While some of our competitors may argue that containing more information, especially on personal topics aids in the personality of your mailer, we strongly disagree. Save your personality for in-person sales or phone conversations. The online market is changing, minimalism and direction are key. In the past, we were learning our way around the web, flashing ads or a mailer with a catchy "FREE MONEY TODAY!" subject line may have caught our attention. However, the more people grow accustomed to online marketing tactics the more they appreciate a straightforward direction. My Rate Mailer incorporates colors of your choosing, your company logo, a picture of yourself, along with links to any social media outlets you would like to include (Facebook, Twitter, Blogger, Personal Website) without being a distraction to the client. Personality without the flair or bulk of the past. The body of your mailer includes your rates, nothing else, no kitchen tips, no sports news, just what your client is looking for.

Sign up for a free trial today and experience the difference!

Tuesday, April 16, 2013

Sending Your Mailer at The Right Time

My Rate Mailer provides you with a personalized template to send out your rates to all of your clients on a as frequent a basis as you would like. However, when exactly is the best time to send out your emails? Below you will find information collect by GetResponse informing you of the best time to send out your rates during the day.

GetResponse analyzed more than 21 million emails sent by its clients during the first quarter of 2012. Among the findings:

  • 23.63 percent of all emails are opened within the first hour; that number drops off precipitously as the hours tick by
  • Most emails are sent from 6 a.m. to noon; the least amount occur from midnight to 6 a.m.;
  • The hours that see the most click-thrus are 8 a.m. and 9 a.m., and 3 p.m. and 8 p.m.
  • The hours that see the most opens are 8 a.m. and 9 a.m., and 3 p.m. and 4 p.m.
  • "The best time to send emails is when customers are reviewing their inboxes, for maximum open and click rates choose morning and early afternoon."

What does that mean for Loan Officers? My Rate Mailer helps Loan Officers process their online mortgage marketing needs effectively and efficiently. If the majority of emails need to be out between the hours of 8am-9am and/or 3pm-4pm, My Rate Mailer makes it easy for you to plug in your rates and send out to your clients. Whether it be first thing in the morning or right after your lunch break, My Rate Mailer is there to help you get the most out of your mortgage marketing efforts!

Thursday, April 11, 2013

3 Ways to Get Clients to Open Your Emails

My Rate Mailer is designed to get you more referrals and close more loans! Marketing experts agree that there are 3 main ways to get more clients to open your emails: Solve a Problem, Save Them Money, Make Them Smarter. My Rate Mailer sends your rates directly to your clients, or provides you with a file that can be easily posted to any social media outlet. This solves the problem of clients shopping around for the best rate, instead the best rates are delivered directly to them! Solve the problem, save them money, and make them smarter, all with My Rate Mailer!

1. Solve a problem.

If you knew that an email marketing newsletter would help solve a problem you were having, would you subscribe to it? If the sender set expectations up front and promised that every email would lead you closer to solving that problem, you'd open those messages, wouldn't you?

2. Save them money.

Groupon and other daily deal emails have proliferated by offering subscribers the opportunity to save money. Sure, you have to spend money to save, but it can be enticing to get 50 percent off a dinner at a restaurant you've always wanted to try or 40 percent off the oil change you've been putting off for months.

3. Make them smarter.

Some of us embrace the "always be learning" motto. To hone our skills, we read business or trade publications, or we take courses. Many marketers exploit this desire to become smarter by sending emails that promise just that.

Monday, April 8, 2013

3 Tips For Successful Online Mortgage Marketing

A successful online mortgage marketing campaign can make a great difference in your career as a Loan Officer. My Rate Mailer helps increase YOUR exposure as a loan officer, gains YOU more referrals, and displays great customer service. My Rate Mailer is a service created to help YOU succeed as a loan officer in today's market. Sign up today for a FREE trial!

Using Technology for Exposure

Online mortgage marketing such as ongoing e-mails, banner ads on local news station websites and Craigslist are inexpensive.  They can also be extremely effective and easy.  But, don’t forget about the methods that work for you right now such as networking, newspaper ads and targeted postcards (with your Email Address).  After all, when markets change, traditional ad budgets are one of the first things to get cut.  That makes sense to a degree as long as you’re redirecting your attention to online methods that are equally as effective.  Should you cut 10% of your print budget and direct all potential clients to fill out an online 1003 to save you time and resources? Maybe.  The point is, scaling back in efforts and expense can cost you far more money than you’re saving in the long run. 


Referrals, Referrals, Referrals!

Constantly ask for referrals.
 Refer customers back to real estate agents, builders, and others whenever possible. Create a memorable/positive impression with first-time customers so that they will be enthusiastic about referring you to others.

Customer Service

Never forget to practice good Customer Service. 
Send proactive follow-up emails to borrowers to inform them of their loan status. Personally attend loan closings to ensure the transaction ends smoothly and make it a practice to under-promise and over-deliver, especially for loan closing times.

Friday, April 5, 2013

Loan Officer Tips for Success: Gaining Your Clients Trust

Borrowers are looking for a lender they can trust. They want to feel they are being taken care of and offered the best advice at all times. My Rate Mailer offers lenders the opportunity to provide their clients with the best care. With up to date rate sheet delivered right to your clients inbox, your clients will feel that they are receiving the most up to date and best rates available. Give your clients the attention and care they deserve, sign up for a FREE trial with My Rate Mailer today!

There are several questions that are running through the minds of borrowers today. Questions like:

  • Is this person out to help me or just themselves?
  • How can I be sure this person is going to get me the best mortgage program?
  • Can I trust this person?
  • Is this person looking out for both my short and long-term best interests?

All of these questions can be resolved quickly if we are prepared with an opening presentation that addresses these concerns. The key is doing it right up-front. Remember, “You only get one chance to make a first impression.” This happens in the first 30 seconds. We either establish or lose our credibility in that critical opening. Let’s look at an opening presentation, step by step, that is perfectly suited for today’s market environment:

Address Media Coverage

“Mrs. Jones, I am sure you have seen all the recent negative press about the mortgage industry. There has been lots of media coverage about climbing interest rates, the impact of adjustable rate mortgages, foreclosures and the integrity of the mortgage industry itself. This has led to distrust towards mortgage professionals and concern for many borrowers as to whether this is a good time to be borrowing. I am sure you have questions in your mind, also. Let me begin by addressing these concerns up-front and showing you why I am the right person to work with.”

Address Market Conditions

“The majority of the problems we see today originated in the “sub-prime” sector. And although these problems are real, this sector represents only 10 – 20% of the entire mortgage market. We do not provide the types of loans that caused these problems. As for rates, although they have increased, there are still excellent rates out there. As for the concerns about integrity, although there were many who were guilty of dishonest and improper lending practices, we have done, and continue to do, business with high integrity. That is why we are still around today.”

Credibility Statement

“My commitment to you (and your family) is to help you find a mortgage loan that not only has an excellent rate, but also provides benefits beyond my competition. This includes getting you the best payment for your loan, at the best term for your long-term goals with the ideal amount of cash, and the greatest tax benefits. I will do this by providing several different options from several different lenders to give you the power to choose the best program for your situation. I will also show you programs that help you in both the short and long-term. Lastly, I will demonstrate my integrity through my actions, not words, by my service on your behalf. “

Offer a Guarantee

“Here is my guarantee: if at the end, you do not feel I have earned your trust and confidence and have not proven to you that I am the best loan officer to work with, I will expect and encourage you to work with someone else. I am confident that this will not be the case. Now, all I need is 20 to 30 minutes of your time, at no cost or obligation, to prove this to you. With your permission, I’d like to get started.”

Thursday, April 4, 2013

Online Mortgage Marketing For Loan Officers

Being a Loan Officer in today's world, successfully marketing yourself online is one of the most crucial steps in your career. The internet has ushered in a new wave of online mortgage marketing, one that is gradually becoming less personalized and more focused on consistently spamming inboxes. My Rate Mailer helps loan officers market themselves in a personalized way, allowing clients to feel less attacked by spam and more welcomed by your services with each personalized email.

Have a content strategy

Many complaints Loan Officers have regarding social media is that they don’t feel like anyone is interested in what they have to say. This is true to the extent that many people don’t necessarily want to hear what your dog ate for dinner last night, but when it comes to providing helpful mortgage information, this complaint couldn’t be further from the truth. When deciding on content to create for your social media marketing, ask yourself the following questions:

  • What mortgage topics do I know the most about?
  • What are other people talking about in my area?
  • If I were a home buyer or seller, what information would I be most interested in reading?
  • What fun events are coming up in my area?
  • Who are the main Real Estate Agent in my area? How can I reach them?
  • Keeping each of these questions in mind will provide you with great ideas for posting content on your social media accounts.

Consistency is key

As a Loan Officer, you can’t expect results from working only once a week. The same thing goes for social media. You will not see results if you only post once a week. “Consistency” means something slightly different depending on which social media platform you are using. A good place to start is by posting at least once a day on Facebook / LinkedIn, and 2 or 3 times per day on Twitter. If you post more than once per day, be sure to spread them out a bit.

This is where most Loan Officers find trouble. How can you remember to set aside time to post multiple times per day when you can barely find enough time to run your business? A great way to combat the time crunch is to set aside about an hour at the beginning of the week and schedule out your posts for that week. There are multiple tools such as HootSuite or TweetDeck that allow you to easily schedule social media posts.

Understand how each platform is unique

People use different social media platforms for specific reasons. For example, Twitter posts can only include 140 characters (letters, spaces, punctuation). Facebook allows an unlimited amount of characters and also allows you to post photos / images. Pinterest revolves specifically around photos / images. Understanding how each is unique, and how you can leverage each platform’s functionality is a big factor in successful social media management.

Measure and track results

If something you’re doing in your business is having no impact on generating new business, you likely would not continue doing that thing, right? Perhaps a specific social media platform is just not working for you for one reason or another. Understanding where and when to cut your losses will allow you to focus on the platforms that ARE producing results.

Add Google Analytics to your website and track how much of your traffic is coming from which social media site. Remember that you aren’t likely to see results right away, so don’t be discouraged. If you aren’t seeing any results after an extended period of time, research how to better utilize that social media platform and see if a different strategy produces better results.

Have FUN!

Online mortgage marketing should be a fun experience. Not only does it connect you with potential clients, but you will likely learn a lot about the things you are interested as well! It’s easy to become too focused on using social media solely for a business purpose. But make sure you are coming across as a genuine human being, and interact with others who are talking about subjects that you yourself enjoy as well.

Tuesday, April 2, 2013

5 Ways to be Social Media-Savvy in Mortgage Marketing

You have probably heard about all the benefits of using social media in your mortgage marketing strategy. However, you probably are concerned with the amount of time it takes to devote to managing the countless social media platforms available for businesses today. My Rate Mailer helps lessen the burden of having to continuously market yourself with fast, easy, and personalized rate sheets.

The good news is that it’s a lot easier than you think!

Here are 5 simple ways you can appear to be social media-savvy in your mortgage marketing:

Post at least twice a week.

There is a fine line in social media between posting too often and not posting often enough. Posting at least twice a week (preferably spread out during the week) will keep your pages fresh, and your followers engaged.

Make relevant, informative posts.

As a Loan Officer, you know your business like the back of your hand. Potential customers probably don’t. Creating posts that showcase your personal expertise will go a long way with people looking for more information. While it is good to show some personality in your social media profiles and differentiate yourself from every other Loan Officer out there, you also don’t want to alienate potential customers by filling up their social media news feeds with irrelevant information.

Automation can be your best friend.

Set aside 1 or 2 hours at the beginning of each week to schedule out updates across all of your social media profiles. There a lot of great tools out there to help you do this including TweetDeck, HootSuite, and more. My Rate Mailer allows you to send out your ever changing rates at the click of a button, so you never miss a day and you never waste time.

Make sure to be responsive.

Nothing will kill your social media credibility quicker than an unanswered question or comment from your followers. When someone asks you a question or comments on your posts, be sure to engage with them in a timely manner. This will go a long way in showing them that you really are a human being on the other end and will make them more likely to engage in the future. My Rate Mailer is a great way to help engage your audience, keeping them in the loop and informed about the market.

Think local.

If your business specializes in offering mortgage services in a specific geographic location, make sure to provide relevant local content for that target market. Consider posting information about mortgage related stories in your area, or upcoming events that locals can actually attend. Acting as a local news source in your area will help keep people coming back for more.

Thursday, March 28, 2013

Loan Officer Jobs On The Rise, How To Compete?

Loan Officer jobs have been steadily increasing this year along side of the long anticipated housing recovery. How will you get ahead of the sea of lenders? My Rate Mailer will keep you ahead of the pack, providing mailers that will keep your clients informed about the ever changing market. Your clients, and/or prospective clients, will appreciate the personalized and direct information sent to them through My Rate Mailer. Sign up at today and get a FREE trail!

Recent positive refinance and purchase numbers have given way to a huge influx in Loan Officer job applications across the nation’s leading mortgage job networks, according to a recent article on the Wall Street Journal’s Market Watch.

The article discusses how companies like Anikim Credit Corp (who places job applicants with lenders) have seen a huge surge in Loan Officer job applications in recent months. The driving forces behind this trend include the current low interest rate and the fact that some prospective home buyers are 3 or more years out from a foreclosure or a short sale. This results in the purchase market seeing more activity with people buying homes again.

This trend is being realized by prospective Loan Officers who are either looking to re-enter the market after seeing the bubble burst in ’08, or are changing careers looking for a more lucrative opportunity in the Mortgage industry. With the average Loan Officer’s annual average earning s rising 17.3% this year over last (according to National Mortgage News), it is no surprise that our industry is an attractive one for these groups.

Wednesday, March 27, 2013

7 Mortgage Marketing Tips For Loan Officers

My Rate Mailer gives Loan Officers the opportunity to market themselves easily and effectively. These 7 Mortgage Marketing tips give insight into just how much work a Loan Officer MUST put into marketing themselves in order to be successful. My Rate Mailer works for each Loan Officer in the effort to market themselves providing personalized custom rate sheets, sent to all clients as frequently as you would like opening the lines of communication and helping to establish real relationships with clients.

Mortgage Marketing Tip #1

Make your advertising and print media more effective by having a headline on everything: letters, greeting cards, ads, everything.

Headlines are what get the reader. They make them want to read more. They tell the reader what benefit he/she will get from reading more. And that's exactly what you want them to do.

Make the headline powerful and include a benefit.


3 things you can do today to improve your credit

Here's something you might enjoy...

I started thinking of you when I read this article...

Make sure to include a headline in all your media and it will increase your results.

Mortgage Marketing Tip #2

When you do something for a client, brag about it.

What I mean is, if you accomplish something, make it a big deal.'

"Mr. Hity, I was holding my breath for a while, and that collection on your credit report made it real close, but I fought for you and got the lender to approve your loan!"

That's a lot better than saying, "Hi, your loan was approved today. Congrats."

Make yourself out to be the valuable professional you are. Make sure that your clients know exactly what you do for them.

Mortgage Marketing Tip #3

Write thank you notes to people everyday.

This one mortgage marketing tool can make you so much money your head will spin. Everyone loves to be appreciated and acknowledged. Being nice and having manners are a thing of the past. But when you take the time to thank someone, you connect to them on deeper level.

Get yourself some thank you cards from the stationery store and thank people who did something for you today. It could be for anything,

Thank your mailman for bringing the mail up to the office. Thank the underwriter for a speedy decision

Thank your client for calling to say they would be late

Thank the realtor for the referral.

These cards can make someone's day. And you really stand out from the crowd as a caring mortgage professional when you use them.

Mortgage Marketing Tip #4

If someone answers your phone for you, have him or her use the following line,

"He/she is working with a client right now, let me see if he can take the call."

This does a couple things,

1. Makes you seem busy even if you are not. This shows the client that you are in demand and confirms that he made a good decision by choosing you.

2. Allows you to not talk to people you do not want to talk to

3. Allows you to say to the caller, if you pick up, that they are important enough to you to interrupt an important client meeting.

This might not be a "traditional" mortgage-marketing tool, but it will make you more desirable. And while it will not make the phone ring more, when it does, you will get respect from those on the other end of the line.

Mortgage Marketing Tip #5

C.A.N.I = Constant and Never Ending Improvement

Do something everyday to improve your business. 1 small change everyday can make a huge difference in a couple months. Implement one mortgage marketing tool at least once a week. At least.

Over the course of a couple years, the results will be dramatic.

Just one small thing is enough. Examples are:

-Hanging a certificate of completion on the wall

-Hanging a testimonial on the wall

-Adding a signature to your emails

-Adding a small consumer article to your website

Mortgage Marketing Tip #6

Look at other businesses for great ideas to adapt to your business

Most innovations come from other businesses.

Like the drive thru window. Who knows who started it, but fast food places use it, banks use it, pharmacies use it, and even restaurants are experiencing success with it.

What new services do you use that make your life easier? Can you adapt these to your business? How about emailing potential customers the interest rate everyday if they request it? Or Providing a Post-Closing Kit with items clients will need when moving?

You can use the marketing tools from other businesses too. If you see a marketing piece that really gets your attention, think about how to adapt it and use it in your business.

Mortgage Marketing Tip #7

It doesn't matter how good a loan officer you are - if you suck at marketing, you will starve.

Knowing how to get clients is infinitely more important than any other knowledge you may attain.

Tony Robbins is not the best NLP trainer out there, but he is the richest because he knows how to market himself.

The Men-Mars, Women-Venus guy is not the best marriage counselor out there, but he sure made a killing in books, tapes, and seminars.

How much money you make has very little correlation to how much you know. Of course you must know the basics, but other than that, it makes very little difference at all.

He who markets best, makes the most money.

Tuesday, March 26, 2013 is a new service that is geared to help busy Loan Officers generate professional Rate Sheets. Once created, the sheets can quickly be emailed to your contacts with the simple click of a button, allowing you to generate more revenue and save time doing so.

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