Having laser sharp focus is crucial to your long term success. Having a good idea and sticking with it until it either succeeds of fails is actually a vital skill – A skill that many entrepreneurs unfortunately lack and fail as a result.

Results Come with Persistence, Not Singular Spurts of Effort

Entrepreneurs often feel powerful spurts of desire, of determination, of feeling like they’re willing to do whatever it takes. Feeling that way for a few days or weeks isn’t an uncommon feeling.  However, to really succeed you need to be able to stay motivated and inspired about what you’re doing for months and years at a time.

Business is not a short term game. You have wins and you have losses. It’s a matter of persisting through all the ups and downs to the final result of real success. That takes time and focus.

Improve Your Focus with Productivity Systems

Your habits play a large role in how focused you stay.  One habit that many successful business people have is planning their day at the beginning of the day. When you wake up, the first thing you do is get out a sheet of paper and write out exactly what you want to accomplish today.  Then, write out what you want to accomplish this year. Then your five year goals, your 10 year goals and your 25 year goals.

If you have inspiring goals set, this will help you stay focused on both the short term actions and the long term picture. Doing this every day will help you stay totally motivated to do what you need to do to succeed.

Be Focused, but Stay Flexible

To be successful in any business, it’s important that you’re able to adapt to your environment and do what’s necessary to make your business succeed.  This and staying focused may sound like contradictory concepts, but they’re actually very complimentary.  Most experienced business people agree that business seldom goes as you expect. If you have one plan to generate traffic, one plan about what to sell, one plan about how your business should look and you’re not willing to change strategies, chances are you won’t make it in the long run.

However, don’t confuse flexibility in strategy with actually bouncing around completely different paths. If you bounce around from idea to idea and stick with no consistent action, you are certainly destined to fail.

On the other hand, if something isn’t working then don’t bash your head against a wall trying to make it work. Instead, be willing to be flexible and adapt. Being able to hold both focus towards a goal and flexibility in the method of getting there is crucial to success.

Know your goals. Know what's important to know. Know what you need to do on a day by day, week by week, month by month and year by year basis. Stick to your plan and stay focused.

At Southern Fidelity Mortgage, our entire company is based on Focus.  We believe that there is a short list of qualities that will enable any business to succeed in this economy. ..Focus is at the top of the list!

If you are interested in growing your business and working with us, please contact us today at 888-551-6530 or visit us on our Facebook Fanpage at http://tinyurl.com/5ufd22e and you will find several FREE GIFTS for you just for visiting!!

Organization, preparation and storytelling can ease the mortgage process (Continued)

4. Explain oddities

Underwriters want to approve loans, but they want to keep their jobs even more. Give them an opportunity to do both by explaining oddities.

For example, if your applicants want to buy a small primary residence within a few miles of a current primary home they intend to keep, explain the situation in way that makes sense to an underwriter.

In this example, without seeing a valid explanation and supporting documentation, the underwriter will be inclined to consider the new property an investment.

Present your client’s situation clearly and honestly. For example, if they’re downsizing because their kids have left for college but they envision their grandchildren growing up in their current house, consider including a notarized affidavit from the applicants explaining why they want to buy a smaller primary residence so close to their current house.

Support the explanation with other documentation. For example, college-acceptance letters and birth certifications could help in the above situation. A copy of the deed or other proof of the client’s tenure in their current house also could help.

5. Tell a Story

You might know intimate details about your clients’ lives, but underwriters working on their files don’t.

With each file you submit, include a letter to the underwriter. Place it on top. This letter should explain the file’s details, unique situations, pros, cons and red flags.

Make it simple, but tell the story. Anyone who opens the file should be able to understand the loan within minutes.

By approaching all your applications in an organized, thorough and detail-oriented manner, you will find yourself originating more loans, receiving more referrals and spending less time dealing with trouble spots. As your reputation for excellence spreads, don’t be surprised when underwriters start fighting for your files.

Rich Leffler, mortgage-education consultant and instructor, is an award-winning industry expert and speaker. He excels in customer service, research, mortgage origination, training and consulting. He operates Professional Mortgage Consulting, through which he creates and instructs mortgage courses while helping mortgage businesses train their employees and grow. He lectures regularly on compliance issues, mortgage sales and customer-service strategies that win, and is available for in-house training speaking engagements and seminars.

Contact rieffler@pmcexpert.com or (410) 486-2430

Organization, preparation and storytelling can ease the mortgage process

Success in the mortgage industry requires organization. This is especially true when taking applications. Whether your applications become masterpieces or messes is up to you.

Countless underwriters have the same No. 1 complaint about loan originators -- they turn in incomplete files.

Although submitting incomplete applications with missing documentation and disclosures may get files off your desk, it ultimately will cause delays and inconvenience for you and your clients. Even worse, such submissions could end up violating the Real Estate Settlement Procedures Act.

The following five tips will help you stay organized, produce better applications and become the kind of originator that underwriters love.

1. Set expectations 

Imagine going to a doctor’s office and dictating what tests the doctor performs and how the examination is conducted. Sound ludicrous?

So why do mortgage originators frequently let their customers dictate the path of the application?

By not requiring customers to prepare for the applications in advance, you risk receiving improper documentation and creating inconvenience that can derail a mortgage transaction.

Your accountant wouldn’t accept monetary estimates, and neither should you.

Successful loan originators set appropriate expectations when scheduling application appointments. They instruct clients to bring the necessary documentation, helping ensure that the application can be filled out correctly and completely the first time.

For phone applications, ask applicants to fax all necessary materials ahead of time.

2. Fill in the blanks

Every application should be approached thoughtfully. It also should be completed thoroughly.

The Uniform Residential Loan Application solicits the information it does for good reasons. Loan originators should complete every field. By filling in all the requested data accurately, you minimize the potential for questions and eliminate the suspicions created by incomplete applications.

Never skip questions only to answer them on the application’s behalf later. Doing so constitutes making a false statement to a financial institution, which is not only unethical but also a criminal offense. Because the application is a legal document, nothing on it may be added, removed or altered after the client has signed it.

By answering any question on behalf of a client, loan originators could lose their license and risk prosecution. By signing the application, you attest that you have completed the application completely, accurately and to the best of your ability.

3. Confirm claims

Loan originators should calculate borrowers’ income. Don’t expect an underwriter to do it for you.

Also, just because borrowers disclose annual earning of $120,000 doesn’t mean that’s the amount you ultimately reflect on the application. What if they’re including a future bonus by mistake or counting on a raise they haven’t yet received?

Review all documentation at the time of the application. Break down the income claim to promote accurate underwriting from the start.

CONTINUE READING IN PART 2 !!!   Click Here: http://www.gosouthernfidelityblog.com/articles/item/37-5-tips-for-underwriter-friendly-applications-part-2

Rich Leffler, mortgage-education consultant and instructor, is an award-winning industry expert and speaker. He excels in customer service, research, mortgage origination, training and consulting. He operates Professional Mortgage Consulting, through which he creates and instructs mortgage courses while helping mortgage businesses train their employees and grow. He lectures regularly on compliance issues, mortgage sales and customer-service strategies that win, and is available for in-house training speaking engagements and seminars.

Contact rieffler@pmcexpert.com or (410) 486-2430

   Investing in real estate is the proven way to become a millionaire. Countless others have done it and you can too. All it takes is a plan, some dedication and the patience to see it through. Here are some tips:

• Start by owning your own home, so you can build up equity and establish a credit record. Begin small:  even a condo or townhome will start you off in the right direction.
•   Again, start small, make a 10 - 20% down payment and rely on the bank for the rest.  Ideally,  find a property that generates a high enough rental income to cover your mortgage payments and all expenses (Insurance, taxes, HOA, etc.).  After a few years, sell the property for a profit.

• Use these funds to buy a more substantial property, such as two or three rental condos or townhomes.  As it generates income, set aside some money for a down payment on an additional property.
• Gradually build your pool of revenue properties and before  long, you'll be earning enough income  - above and beyond Mortgage payments, maintenance costs, property tax, etc. - to comfortably live on. Plus, you'll also have a substantial asset pool that appreciates every year (in most cases, of course).

As your Mortgage Professionals, we can help you create a plan for success.  If you do not take advantage of the low prices in today's market, I can assure you...SOMEONE ELSE WILL!!  If anything posted on this Blog makes sense to you and you would like more information on any of our numerous Loan Options we have to get you into an investment property, or even your Primary Residence.... please visit us at:

http://www.gosouthernfidelity.com/

or

call us directly at 702-228-2889

Also, we would love to have your feedback and thoughts about our post...please leave a comment below...

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