My Interview with Dave Savage of Mortgage Coach

A New Post by Rhonda Porter
Mortgage Broker/Licensed Originator 510-LO-32047 - Washington
Read other posts by Rhonda Porter

I'm really honored to have been recently interviewed by Dave Savage, CEO of The Mortgage Coach.   You probably know Dave by his blog, Savage Insights and I certain as a Mortgage Professional you've heard of Mortgage Coach.  It's a program that I have used in my business practice for about 8 years.   I use it to provide side by side comparisons of loan programs as well as deliver rate watch reports and rent verses own analysis.   

Dave contacted me because of an article I had written on my blog about how I help home owners understand their adjustable rate mortgage where I use the Total Cost Analysis report to compare their current ARM with a worse case adjustment comparison along with up to two possible refinance options.  Sometimes, depending on the length remaining on the ARM and what the home owner's plans are, their best option is to do nothing.   I have found that home owners are so relieved once they understand their ARM and how and when it may adjust.  Even if someone decides not to refinance at this time, borrowers contact me when they are ready to take advantage of this market and buy their next home or refinance.   

Also in this interview, we touch on blogging and how I adopt mortgages.   Instead of me entirely spilling the beans, check out the 25 minute interview by clicking here.

Comments

[Eric]

Nice interview!

I think you made a key point that when adopting mortgages it isn't just about trying to refinance a particular client at that exact moment - rather it is about differentiating yourself and your practice by offering quality advice and demonstrating the long-term benefits of working with your practice - which necessarily often means the best current course of action for a homeowner is to not do anything with regards to restructuring their current real estate debt. By focusing on providing sound, quality advice to clients, (adopted and pre-existing), you quickly establish trust as it is evident you are representing your clients with their best interest in mind and your referrals naturally grow as a result.

And of course it goes without saying that once an adopted client is in your database and has been enrolled in your mortgage under management program that when a real estate financing need arises in the future you will have already positioned yourself to help that client. This is why a market like the one we have now is such a blessing for the high quality professionals in the marketplace as it allows us to grab market share by leaps and bounds.

I can see why you are successful!

[The Mortgage Cicerone]

Rhonda - That was an awesome interview and and just as Dave said, your concern for clients resonates!!!!

[Rhonda Porter]

Thanks, Eric and Cicerone. After the interview, I wondered if Dave would use it since I wasn't touting "super star" performance and the client did not convert to an "immediate sale". It is about the long term picture for me...it was a lot of fun doing the interview. Dave is a pro!