C-LOANS
LENDER LETTER Joke Du Jour
A rancher goes to the bank to borrow money to buy a bull so he can increase his stock. The transaction is made, and the banker who lent the money comes by a week later to see how his investment is doing. The farmer complains that the bull just eats grass and won't even look at the cows. The banker suggests that a veterinarian have a look at the bull. The next week the banker returns to see if the vet helped. The farmer looks very pleased: "The bull has taken care of all my cows. In fact, he broke through the fence and even serviced all my neighbor's cows!" "Wow," says the banker, "what did the vet do to that bull?" "Just gave him some pills," replied the farmer. "What kind of pills?" asked the banker. "I don't know," replied the farmer, "but they sort of taste like peppermint."
C-Loans Commercial Lending Conference
C-Loans, along with Smith-Crane Finance, is sponsoring a major commercial lending conference in Los Angeles on January 31st. About a thousand commercial mortgage brokers will attend this one-day conference.
You should exhibit at this conference because it's cheap compared to the MBA CREF Conference, the Western States Conference or any of the other commercial mortgage broker conferences.
You can have a table-top exhibit for just $950 or a booth for just $1,650!
For exhibit information please call Ed Craine at 415-406-2330. This is a great way to meet new commercial mortgage brokers! Exhibitors get a list of all of the attendees.
Pregnant Joke
This gal wrote: When I was six months pregnant with my third child, my three-year-old came into the room when I was just getting ready to get into the shower. She said, "Mommy, you are getting fat!" I replied, "Yes, honey. Remember, Mommy has a baby growing in her tummy." "I know," my little daughter replied, "but what's growing in your butt?"
Can't Get Your Borrower Enough Loan Proceeds?
Blackburne & Brown can now bring equity dollars into your over-leveraged commercial deals. Let's suppose your borrower is trying to refinance a balloon payment, but he can't qualify for a large enough loan to pay off all of his existing debt. We'll bring in fresh equity dollars and use them to reduce the debt on the property.
This could save an important loan for you someday, and it could rescue the life's savings of some desperate property owner. Got a deal? Call Warren More at 916-338-3232 or email him at wmore@blackburne.com.
K-9 Joke
A K-9 officer wrote: It was the end of the day when I parked my police van in front of the station. As I gathered my equipment, my K-9 partner, Jake, was barking, and I saw a little boy staring in at me. "Is that a dog you got back there?" he asked. "It sure is," I replied. Puzzled, the boy looked at me and then towards the back of the van. Finally he said, "What'd he do?"
Earn Double Lender Bonus Points
If you meet a mortgage broker through C-Loans, and he comes back to you with a different deal, you're supposed to pay C-Loans a fee on that new deal. In practice, however, it's hard for C-Loans to track repeat deals like this. Lenders can easily cheat us.
However, if you do the honorable thing and pay us on the new deal, C-Loans will pay you DOUBLE lender bonus points.
Remember, every time you close a loan for C-Loans, you are awarded 10 permanent lender bonus points that will stay with you for your entire career, even when you change employers.
Ten extra lender bonus points will usually double your existing loan application volume. So if you were getting five loan app's per week before closing a deal for us, your volume will typically go up to ten loan app's per week.
So if you close a loan for a broker or borrower whom you met through C-Loans, and it was a new deal where he called you directly, you will rewarded with twenty (not just ten!) lifetime lender bonus points.
The Whole Nine Yards
The term "the whole 9 yards" came from WWII fighter pilots in the South Pacific. When arming their airplanes on the ground, the .50 caliber machine gun ammo belts measured exactly 27 feet, before being loaded into the fuselage. If the pilots fired all their ammo at a target, it got "the whole 9 yards".
Is Your Loan Quality Lousy?
If your C-Loans loan quality has been lousy recently, the problem is your lender score. If you have a low lender score, your bank will appear at the bottom of the Suggested Lender List. Borrowers only apply to the lenders at the bottom of the Suggested Lender List when all of the higher-ranked lenders have turned them down.
It's easy to have a lender score of 100%. Just reply to every deal with at least a One Click Turndown.
Forgotten Glasses Joke
While on a road trip, an elderly couple stopped at a roadside restaurant for lunch. After finishing their meal, they left the restaurant and resumed their trip. When leaving, the elderly woman unknowingly left her glasses on the table, and she didn't miss them until they had been driving about twenty minutes. By then, to add to the aggravation, they had to travel quite a distance before they could find a place to turn around -- in order to return to the restaurant to retrieve her glasses.
All the way back, the elderly husband became the classic grouchy old man... he fussed, complained and scolded his wife relentlessly during the entire return drive. The more he chided her -- the more agitated he became. He just wouldn't let up one minute. To her relief, they finally arrived at the restaurant.
As the woman got out of the car and hurried inside to retrieve her glasses, the old geezer yelled to her, "While you're in there, you might as well get my hat and the credit card."
My Book's Dire Predictions Coming True
Ths is one time I would love to be wrong and to have all of my buddies make fun of me.
Unfortunately my new book, The Reverse Multiplier Effect - When Crushing Deflation Destroys America, makes some pretty dire predictions about the future of our economy. When the book was written in late 2007, I urged investors to flee to U.S. Treasuries and gold. It was unfortunately a pretty prescient call. Yikes.
You can order the book here.
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