Benchmarking with Ellie

elliemae-logoI recently wrote about how you should read the Realtors monthly online newsletter. Well, I practice what I preach and was reading it the other day. There was an article about the average time it takes a mortgage to close. The data in the article came from mortgage software provider Ellie Mae.
I did a quick Google search and came across an outstanding monthly publication from Ellie Mae. What did it say? Read on……….

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Bread and Butter of Your Home Loan Business

Realtor_logoWith interest rates falling, many mortgage lenders are seeing an increase in refinance activity. This is good short term news. Refinance business due to low rates is like extra gravy on mashed potatoes, but unlike the extra calories from the extra gravy, the refinance busy can go away at a moment’s notice. No one is certain how long this potential refinance boom will last (though I don’t think it will be long because rates have been pretty low for so long).

So don’t get caught up in the extra gravy and keep on working to build Realtor relationships. They are the bread and butter of your home loan business.

I read a recent article about how a loan officer can build relationships with Realtors. What did it say?

Read on….

 

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Do You Read What They Read?

It’s been about 90 to 95 degrees with humidity the last few days in Ohio so the last thing most people are thinking about is winter and Christmas, but as I read an email I thought of this blog post.

You can sing the title to the Christmas song “Do You Hear What I Hear”?

I thought about putting an audio clip on the blog of me singing it, but that would probably cause a drop in readership.

Anyway, I digress. The question in the title is a real question. Do You Read What They Read?

Who is the “They”? – Well, its Realtors….

Any Credit Union you talk to says they want to do more business with Realtors. And that’s a great idea, but to do so and be more memberlicious, you probably need to better understand Realtors.

So what do they “Read”? – Well, a sample is below. Check it out then read on………

Email

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Mortgage and What?

Source: Burger King

Source: Burger King

Have you heard about Mac n’ Cheetos? This is Burger King’s newest offering. It starts June 27th and lasts eight weeks. from Burger King. It’s deep-fried sticks of macaroni and cheese encrusted in Cheetos-flavored breading. I love mac n’ cheese and love Cheetos but I’m not quite sure if this is a good pairing. And I wonder if you get that orange Cheeto dust on your finger tips. I hope so because that’s half the fun of eating them.

Anyway, what’s this have to do with mortgages? Read on….

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How to Become a Real Estate Advocate for Your Members

Recently I worked with CU Realty to produce an article about why Credit Unions need to become advocates for members with not only home financing but the entire home purchase process.

In disclosure, Wright-Patt Credit Union is an owner of CU Realty and I am a board member – so while I admit I’m biased, I whole-heartedly agree that this is an approach Credit Unions should be considering. It’s been a big part of the success and growth our Credit Union has had in terms of broadening relationships with Realtors and most importantly helping more members with home ownership.

Here’s the article.