STUFF (C-Loans.com Client Letter)
You are receiving this email because you are a client of either Blackburne & Brown or C-Loans, Inc. A severe recession is looming, and today we'll discuss survival strategies for mortgage brokers.
"NASA lost the original film of the moon landing. Did you hear about this? Well, you know, in their defense, they're not exactly rocket scientists." -- David Letterman
Mortgage Broker Places $17 Million Land Loan with C-Loans Lender
Ron Bedell of Pacific Horizon Financial just successfully placed a $17MM bridge loan on a parcel of land in Palm Springs, California using C-Loans.com. How would you like to earn a $170,000 commission? Wooow. I'll bet that pays a lot of bills, huh? And remember, C-Loans.com is free!
Winston Churchill Joke
During a visit to America, Winston Churchill was invited to a buffet luncheon at which cold fried chicken was served. Returning for a second helping, he asked politely, "May I have some breast?" "Mr. Churchill," replied the hostess, "in this country we ask for white meat or dark meat." Churchill apologized profusely. The following morning, the lady received a magnificent orchid from her guest of honor. The accompanying card read: "I would be most obliged if you would pin this on your white meat."
Blackburne & Brown Has a Terrific New Program
The sister company of C-Loans, Inc. is Blackburne & Brown, the $50 million commercial hard money lender out of Sacramento, California.
Two months ago Blackburne & Brown announced a terrific new program for commercial subprime loans. Our rate is still about 0.75% higher than some of the cheapest "B" paper commercial lenders, but we are now collecting our payments based on an interest-only constant that is 3% lower than our note rate. If our rate is 11.9%, we'll collect payments based on an 8.9%, interest-only constant.
In plain English, our payments are now 20% lower than those of other "B" paper commercial lenders. To a borrower, its all about the monthly payments. And remember, our loans never have a prepayment penalty or a lockout clause.
Got a "B" paper commercial mortgage loan request? If so, please call Ryan Jessen at 574-936-6387. Here is our current Pricing Matrix.
Recession Survival Strategies
Right now I estimate that there are 400,000 mortgage brokers working throughout the United States. By the time this recession is over, I fear that this number will be down to less than 75,000.
The mortgage brokers who survive will be the one-broker offices. The surviving broker will have a small office with super-low rent in some older building in suburbia. He will have two or three loyal processors. The broker will bring in the deals, and the processors will do everything else.
The surviving mortgage broker will not try to hire and train junior salesmen because they only consume precious sales time. Loan fees, I fear, will be much smaller in the future, so the broker will have to be very efficient with his time. He will not take on difficult deals, like big construction loans or international loans. Instead he will focus on deals that he knows he can place.
The surviving mortgage broker will need to arrange both commercial and residential loans. There probably won't be enough activity to specialize in just one or the other. Although home sales are waaay down, commercial real estate right now is holding up well. It may even be the next bubble.
It's time for you to finally learn commercial mortgage finance. C-Loans sells a wonderful nine-hour video course entitled, "How to Broker Commercial Loans". The cost is just $499. Call Alicia Gandy at 916-338-3232.
Q: Why did the cowboy buy a dachshund?
A: Someone told him to get a long little doggy.
Earn $5,000 Referral Fees in Your Sleep
If you have a mortgage website, you can earn huge referral fees by merely putting a link to C-Loans on your site. We once paid Alan Dunn of Spydercube is referral fee of $21,250. Click here for details.
After buying her kids a pet hamster, after they PROMISED they would take care of it, Mom, as usual, ended up with the responsibility. One evening, exasperated, she asked them, "How many times do you think that hamster would have died if I hadn't looked after it?" After a moment, her youngest, 5-year-old son replied quizzically, "Er.... once?"
Buy Borrower-Direct Commercial Leads for $1 - $9
Experienced commercial mortgage brokers can now buy commercial mortgage leads from C-Loans for a lousy $1 to $9 apiece, plus a closing fee of 37.5 basis points. You select the type of lead (permanent vs. bridge, etc.), the loan size, the property type, the state, the county and the credit. Click here
for more details.
The new supermarket near our house has an automatic water mister to keep the produce fresh. Just before it goes on, you hear the sound of distant thunder and the smell of fresh rain. When you approach the milk cases, you hear cows mooing and catch the scent of fresh hay. When you approach the egg case, you hear hens clucking and cackling. The air is filled with the pleasing aroma of bacon and eggs frying. The veggie department features the smell of fresh buttered corn. This new supermarket is really cool ... but I don't buy my toilet paper there anymore.