C-LOANS
LENDER LETTER Joke Du Jour
There were two rednecks walking toward each other down the street. One of them was carrying a sack. When they met up, the other redneck asked, "Whatcha got in that there sack?" The redneck with the sack replied, "Just some chickens." The other redneck said, "If I guess how many chickens are in that there sack, can I have one?" The redneck with the sack answered, "I'll give ya both of them if you get it right." So, the other redneck thought and thought, and he finally said, "Five?"
C-Loans Closing Some Large Loans
C-Loans would like to thank Bob Taylor of Johnson Capital for closing a $5 million FHA refinance on an assisted living facility in Florida. Bob also has four other large FHA loans going for C-Loans, including one for $30 million and another one for $42 million. (Oh, baby!)
Those of you who work on larger deals should take note that the only thing keeping you from closing a ton of large loans for C-Loans is your own belief that good loans are being originated online.
Positive Feedback Joke
While on maternity leave, a woman from our office brought in her new bundle of joy. She also brought her seven-year-old son with her. Everyone was gathered around the baby, when the little boy asked, "Mommy, can I have some money to buy a Coke?" "What do you say?" she asked. Respectfully, the boy replied, "Mommy, you are thin and beautiful." The woman reached inside her purse and gave her son the money.
Things Will Get Worse Before They Get Better
Next year we may look back fondly on today's commercial lending environment. It may be very hard to get a commercial loan approved today, but at least Loan Committee is still approving a few deals. I greatly fear that by next year banks won't be approving anything.
I wrote a book last year, The Reverse Multiplier Effect - When Crushing Deflation Destroys America, that predicted much of today's problems. The book recommended purchasing U.S. Treasuries, gold, and farmland. Had you done so, your portfolio would be up 40% to 50% over the past 12 months.
My advice to you is this: Work your tail off right now - at least ten to twelve hours per day. Build up your savings and pay down your debt. Japan's economic downturn has lasted 18 years so far. Our downturn may take even longer.
Ministry Joke
A pastor was invited by a member of his congregation to the farmer's home for dinner. They had just finished an excellent meal of chicken and dumplings when the pastor noticed a rooster strutting through the yard. "That's certainly a proud-looking rooster," the pastor commented. "Yes, sir," replied the farmer. "He has reason to be proud. One of his sons just entered the ministry!"
Make Sure You Close 5 Loans for C-Loans
Usually the first employees laid off by a bank during a recession are the commercial loan officers. And if you get laid off by a bank during a recession, it's a pretty good bet that the other banks won't be hiring either. Most former bank commercial loan officers end up hanging up their shingles as commercial mortgage brokers.
If this ends up happening to you, it is very important that you managed to close at least five loans for C-Loans while working at the bank. With five closings, C-Loans will allow your newly-formed commercial mortgage brokerage company to be listed as a lending source on C-Loans.
If you take care of C-Loans while working at the bank, we'll take good care of you during the recession.
One Day at Time Joke
"I try to take one day at a time, but sometimes several days attack me at once."
"But George, My Leads Have Gotten Crumby"
Lenders are listed on the Suggested Lender List according to their lender scores. Borrowers usually start at the top and work their way down. So if your lender score is low, most of the leads that will reach you there at the bottom of the list will be the picked over leads - the crumby ones.
Geesh. It's easy to have a lender score of 100%. Just respond to every lead with at least a One Click Turndown. It's an investment of what, seven seconds, per lead?
Irresistible Joke
A wife and her husband attended a very important business party thrown by her boss. The husband probably had one or two more drinks than he should have. On the way home from the party, the woman said to her husband, "Have I ever told you how handsome and sexy and totally irresistible to all women you are?" "Why no," said the husband, deeply flattered. "Then what gave you that idea at the party?!" she yelled.
Don't Let Your Email Filter Eat Your Leads
Every C-Loans lead includes a practice tip. Since every practice tip is different, the word count will be different. We'll use your filter's forbidden words a different number of times. This is why some C-Loans leads will make it through your email filter, while others will get screened out.
It is therefore very important that you put blackburne.com and c-loans.com on your white list. Your computer guru can easily show you how to do this.
Thinking Joke
Don't worry about what people think. They don't do it very often.
Lender Bonus Points
Every time you close a loan for C-Loans, you earn 10 lifetime lender bonus points that get added to your lender score. We have one lender, Integrity Financial, that has already closed 52 loans for C-Loans. That's 520 bonus points, added on top of their base score of 100%. Needless to say, they see at lot of deals.
But if you work at a bank, your rates are probably much better than those of Integrity Financial. All you have to do to catch them is break into the top six lenders on the Suggested Lender List, and you'll be able to compete against them and possibly beat them on every deal.
So how can you get your lender score up? First of all, by responding to every deal, you'll earn 100 lender points. If you submit your Lender Tracking Table every month, that's an additional 10 points.
If you close a loan for a broker who you first met on C-Loans, but he comes back with a different deal, you'll earn double lender bonus points - 20 points - for your honesty.
And we have a special routine that places among the top six lenders - at random - one lender with a score of at least 100%. In other words, if you maintain a lender score of at least 100%, you'll appear among the top six lenders for about one out of every six loan applicants. You will see the cherriest deals faster than any other lender.
There is a lot you can still do to catch the best lenders on C-Loans, so go for it!
Cookbook Joke
"I use my cookbook often -- to throw at people who suggest I cook."
One or Two Lender Bonus Points Help a Lot
A lender with a lender score of 111 is often listed 20 lenders higher than a lender with a score of 110. You can get that critical one extra point by telling us on your Lender Tracking Table that you received a loan package in the door.
Happily Married Joke
When a newly married man looks happy, we know why. But when a 10-year married man looks happy, we wonder why.
Look Out for Number One
Many of the bank loan officers currently enrolled on C-Loans probably will not be working for the same bank next year. Most bankers will work for at least five different banks over a 35 year career.
The wise commercial loan officer will therefore look out for 'ole numero uno - himself. He'll work his C-Loans app's diligently. He'll fight to get his C-Loans deals approved. He will make sure that C-Loans gets paid. He will remember the brokers who he met through C-Loans so he can earn double bonus points if they bring him a different loan.
The wise commercial loan officer will tend to his C-Loans lender score like a farmer tends to his crops. The wise loan officer knows that the higher his lender score, the more commercial loan leads he will get.
Equally important, he knows that the higher his lender score, the better quality of commercial leads he will enjoy. His leads won't be picked-over leftovers, but rather they will be hot, fresh leads from gold-plated borrowers.
And finally he will sleep well at night knowing that even if his current bank lays him off during the coming recession that his lifetime lender bonus points will follow him to his new bank.
Old Friends Joke
Pete and Larry had not seen each other in many years. Now they had a long talk trying to fill in the gap of those years by telling about their lives. Finally Pete invited Larry to visit him in his new apartment. "I've got a wife and three kids and I'd love to have you visit us." "Great. Where do you live?"
"Here's the address. And there's plenty of parking behind the apartment. Park and come around to the front door, kick it open with your foot, go to the elevator and press the button with your left elbow, then enter! When you reach the sixth floor, go down the hall until you see my name on the door. Then press the doorbell with your right elbow, and I'll let you in."
"Good. But tell me...what is all this business of kicking the front door open, then pressing elevator buttons with my right, then my left elbow?"
His buddy replied, "Surely, you're not coming empty-handed?!"
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