Generate Loans By Adopting Orphans

A New Post By The Mortgage Cicerone
A Guide for Mortgage Professionals
Read other posts by The Mortgage Cicerone

The market is shifting and it's much harder getting loans the way we have in the past. That's why it's important to adapt to what the market is giving you.

Dave Savage at Mortgage Coach has provided another excellent example of how to adopt mortgage orphans and ultimately generate more loan production.

In Dave's post, he had this to say:

"Every year, whether you realize it or not, there are customers in your office who become orphans…they get lost among the numerous files because their loan officer has left the company and the connection has been severed, never to be communicated with again. Eventually, when they have a new mortgage need, they take it elsewhere because they no longer have a relationship with anyone in your firm.

But you can capture those relationships. Eric Bohn did, and now he’s generating 13 to 15 new loans a month with this strategy! Bohn, with Shore Mortgage of Birmingham, Michigan, generates new mortgages under management by “adopting” the loans of existing clients from loan officers who have left the company. This guy has only been in the business for 2-1/2 years and he did over $52 million in loans in 2006!"

Go and read the rest of Dave's post and take action immediately!

The market is shifting and it's much harder getting loans the way we have in the past. That's why it's important to adapt to what the market is giving you.

Dave Savage at Mortgage Coach has provided another excellent example of how to adopt mortgage orphans and ultimately generate more loan production.

In Dave's post, he had this to say:

"Every year, whether you realize it or not, there are customers in your office who become orphans…they get lost among the numerous files because their loan officer has left the company and the connection has been severed, never to be communicated with again. Eventually, when they have a new mortgage need, they take it elsewhere because they no longer have a relationship with anyone in your firm.

But you can capture those relationships. Eric Bohn did, and now he’s generating 13 to 15 new loans a month with this strategy! Bohn, with Shore Mortgage of Birmingham, Michigan, generates new mortgages under management by “adopting” the loans of existing clients from loan officers who have left the company. This guy has only been in the business for 2-1/2 years and he did over $52 million in loans in 2006!"

Go and read the rest of Dave's post and take action immediately!

Comments

[Rhonda Porter]

Adopting mortgages has been very beneficial for my business, Tony. Washington State home owners send me a copy of their Note and I review it with them. I also send them a Total Cost Analysis (from Mortgage Coach)...they're always impressed. Their last Loan Originator most likely did not provide this type of service to them and odds are, they've lost touch with the client or they may be out of the business. Adopted clients are loyal and they see the value in a long term relationship with a Mortgage Professional. Great post!