C-LOANS
LENDER LETTER Joke
Du Jour
During
an afternoon practice, a nine year old way out in left field
failed to catch one ball after another. The coach,
getting very impatient with him said, "Just stand over there
and watch me."
The
assistant coach hit a ball in the coaches direction. The
ball hit the ground in front of him. The second ball
hit behind him. The third hit him on the shoulder.
He looks over at the
left fielder and yells, "See what you've done. You've
got this position so messed up, no one can catch a ball
here."
MezzanineLoans.com
is Now On-Line!
If
you joined MezzanineLoans.com by telling us that you make
mezzanine loans, thank you for your patience while we stocked
the databank with mezz lenders.
In
about ten more days we will be sending out 50,000 faxes
to our mortgage brokers announcing the opening of MezzanineLoans.com.
We have already secured the number one spot on page
one for "mezzanine loans" on Yahoo and Google.
Deals will now start to trickle in.
The
software is still rudimentary, so please be patient.
It will take us about six more months to perfect it, but
at least right now we have a decent working system.
Mezzanine
loans are a new concept for many mortgage brokers, and we
are bound to get some well-meaning innocents bringing us
some pretty goofy deals. When you see one, just chuckle
and hit the "One Click Turndown" button.
Remember, even if you have to look at 30 goofy loans app's
to find that one do-able deal, the business still makes
sense because you can load up and turn down a goofy deal
in just seven seconds. Would you invest 210 seconds
to earn a $25,000 commission? Sure you would!
If
your bank or fund makes mezzanine loans, would you please
send me an email?
Do
you know any mezzanine lenders? We would be very
grateful if you would send
us some suggestions as to whom we should contact.
Lumberjack
Joke
This
puny guys applies for a job as a lumberjack. “Sorry,”
says the head lumberjack, eyeing the man up and down, “you're
just too small.”
“Give
me a chance to show you what I can do,” the guy pleads.
“You won't regret it.”
“Okay,”
says the boss. “See that giant oak over there?
Let's see if you can chop it down.” Half an
hour later, the mighty oak is felled, amazing the boss.
“Where'd you learn to cut trees like that?” he asks.
“The
Sahara Forest.”
“You
mean the Sahara Desert ?”
“Sure,
if that's what they call it now.”
Important
Change to Scoring System
If
you are a hungry lender who has just recently joined C-Loans,
you will love this new change to our scoring system.
If you have been with us for years and enjoy a bunch of
lender bonus points, this notification will explain why
you are suddenly getting fewer loans.
The
lenders at the top of the Suggested Lender List got there
because they closed a lot of loans for C-Loans. They
earned 10 bonus points for each closing. The system
rewards the top ranked lenders with three to five times
more loan app's than a lender in the middle of the pack.
But
sometimes our top-producing lenders get complacent or distracted,
and they stop working their leads. Loan app's pile
up unworked in their email boxes.
Alicia
and I describe it as lenders being in and out of phase.
"Gee, XYZ Bank used to close two loans every month,
and now it's been seven months without a closing.
Joe must be having personal problems." "Yeah,
but Steve over at LMN Mortgage has his game back.
He just closed two deals, and he has three more scheduled
to close in the next five weeks."
This
new change in the scoring system will deny bonus points
to those lenders who are not working their loan app's quickly.
The test we use is speed because working a loan
app within an hour of receipt is the key to success on C-Loans.
C-Loans is a more like a race than a rate bidding
contest.
In
order for any lender to receive his bonus points, he has
to work his loan app's faster than at least 50% of the lenders
on C-Loans.
In
other words, a lender has to be in the top 50% of all lenders
on C-Loans when measured according to how fast he either
calls his borrowers or sends them an EasyReply.
For
you new guys, this is great news! It will mean more
deals for the guys further back in the back.
If
you are a lender who was "out of phase" but is
now back at the top of his game, just work your deals quickly
for three days and your bonus points will return.
I
Can't Come in to Work Today Because ...
If
it is all the same to you, I won't be coming in to work.
The voices told me to clean all the guns today.
I
can't come in to work today because I'll be stalking my
previous boss, who fired me for not showing up for work.
Okay?
I
have a rare case of 48-hour projectile leprosy, but I know
we have that deadline to meet ...
Yes,
I seem to have contracted some attention-deficit
disorder and, hey, how about them Skins, huh? So,
I won't be able to, yes, can I help you? No, no, I'll
be sticking with Sprint, but thank you for calling.
Easy
Bonus Points
Want
to earn 5 lender bonus points for 30 days? Suppose
you get a lead call from a broker or a borrower for a deal
you can't do. Just scribble down his email address
and type it into this web page.
Please go this page right now and bookmark it.
Every
month one or two more lenders discovers this "secret"
way to earn extra bonus points. Once they discover
how easy it is, they are soon referring one to two deals
to C-Loans every day!
Become
Fanatical About Your Lender Score
Remember,
your Lender Score not only affects the volume of your loan
app's, but also your loan quality. If you have been
getting nothing but crumby loans recently, look at your
lender score. I guarantee you that it will be less
than 100%.
No
lender should ever have a score of less than 100%.
Geesh, how long does it take to hit the One Click Turndown
button?
Lot's
of BIG loan closings this month - Nomura, Lockheed Credit
Union, Avatar Financial (a Seattle REIT). Be a part
of it!
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