Lines of Credit
PROGRAM INFO
1 Size of line: Minimum
2 Size of line: Maximum
3 Personal/corporate/combined net worth requirement: Minimum
4 Annual origination volume: Minimum
5 Willing to train those new to warehouse lending
6 Flow
7 Bulk
8 Lien position: 1st
9 Lien position: 2nd
Company Name
Flagstar Wholesale Lending
800-642-0039 x1414
wholesale.fl agstar.com
CONTACT
Michelle Phillips
michelle.r.phillips@fl agstar.com
NATIONWIDE
PRODUCTS
10 Construction
11 FHA / VA
12 FNMA / FHLMC
13 HLTV programs
14 Home equity
15 Home improvement
16 Jumbo residential
17 Mixed-use properties
18 Nonprime
Min
1
Max
2
PROGRAM INFO
Min Min
3$ 4$ 56789
PRODUCTS
10
11
12
13
14
15
16
17
18
1M
50M
NA/250K/NA
25K Y Y
Y
YYY
Y
Visit our Web site for further information at: wholesale.flagstar.com/lending/public/correspondent.jsp.
Gateway Bank FSB
888-210-0002 x4785
www.gatewayfsb.com
Michael Kenny
michaelk@gatewayfsb.com
2M 150M
NA/150K/NA
NA
YY
YY
YYYY
Y
Y
NATIONWIDE
Nation’s top warehouse bank (Federal Savings Bank), early wires, TPOs, quick$ale
Warehouse Solutions
800-455-1355
www.whlsolutions.com
Kamran Khosravi
kkhosravi@ whlsolutions.com
1M
50M
NA/500K/NA
NA
YY
Y
YYY
Y
NATIONWIDE
Contact
1
2
3
4
5
6
7
8
9
10
11
12
13
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18
Tell lenders you found them
in Scotsman Guide
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production
cycle and dynamic nature of the industry, loan product terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program
details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
6 Ways to Light a Fire Under Your Sales Staff
Assembling and nurturing a top-flight staff is a must in today’s tough market
By Obiora Egbuna, vice president of sales, Residential Finance Corp.
Great sales results come
from making a commitment to
leadership excellence. In rough
times such as these, sales managers must
be proactive in developing and leading
their sales teams to achieve their goals.
With this economy, a sales team is more
critical to your company’s success — and
perhaps its survival — than ever.
Mortgage brokers who manage employees or who are seeking the skills to do so
can play a crucial role in determining their
team’s and company’s success or failure.
Here are six key elements of leadership excellence that can help you prepare, manage
and motivate your sales-team members in
the next few months and beyond.
1. If you don’t have great people, find
them: Managers have three options with
employees: Groom ’em, broom ’em, or do
nothing and watch as mediocrity lowers
your team’s standards and drags you into a
slump. Mediocrity is a disease that dampens vitality and sucks the innovation and
energy out of any team. Ensure each team
member contributes to your company’s
success. With so many talented individuals
eager to prove themselves in our current
marketplace, it’s imperative for those who
must rebuild to have the right networks in
place to scout, select and recruit a powerful sales force. Just as professional sports
teams seek the best talent they can find,
so should you.
spirit, but it also can demonstrate your
confidence that employees have what it
takes to be on the team and to live up to
your company’s expectations.
4. Retain high, feasible and measurable objectives: It’s easy to lose sight of
step-by-step progress. But looking at your
progression with a wide-angle view puts
your achievements in perspective. This can
help make the amazing seem possible, and
Tips to Ignite Your Staff
1. If you don’t have great people,
find them.
2. Develop your talent.
3. Set an expectation of excellence.
4. Retain high, feasible and measurable
objectives.
5. Challenge employees to do more.
6. Consider the feedback you provide.
“What you say forms your team’s culture and
beliefs, so always think before you speak.”
Obiora Egbuna is vice
president of sales for
Residential Finance Corp.,
www.residentialfinance.
com. Earlier, Egbuna was
senior vice president of
sales and served as co-head of retail franchise
for Delta Funding Corp., dba Fidelity Mortgage,
where he managed the rapid expansion of the
lender’s sales team from 130 to 550 loan
officers and generated monthly production
increases from $12 million to more than $200
million. Reach him at egbunao@myrfc.com.
2. Develop your talent: It’s not wise to
throw a team member into the field without
the support of ongoing coaching and training. To build and nurture a great sales team,
managers must continuously train, coach
and motivate their employees. Play to their
strengths and work on their weaknesses.
Keep them fresh, up-to-date and at the top
of their game by using internal and external
training. By doing this regularly, you can
ensure that your team has the industry and
sales expertise necessary to open and close
sales confidently.
3. Set an expectation of excellence: Able
and motivated people are the key to every
sales team’s success. Believe in your staff.
Additionally, remind team members that
they work for a first-class company with
exceptional products, leads, support, training and compensation — and that you only
hire and retain top-notch people. This not
only creates a sense of belonging and team
superior in front of salespeople. Don’t reprimand your people in front of others — or
your customers in front of your team.
When every company is trying to
squeeze out the most profit feasible, it’s
unfortunately possible to forget about
customer service. Keep your sales team
focused on delivering excellence in every
customer interaction. Each client is more
important than ever; it’s no time to cut
back on service. Recall that your customers are the reason your career exists.
As a manager, practice what you
preach, as well. Set an example of excellence in everything you do and say. Doing
this demonstrates your commitment to the
highest standards. It’s one thing to talk big,
but it’s quite another to prove what you say
through your own actions. Those managers who guide their team with expertise
and act on their own advice will likely reap
the rewards.
it can put your goals in reach for everyone.
Objectives always should be reasonably
high and evaluated regularly to help your
company and its employees grow.
5. Challenge employees to do more:
Great expectations are not just stretch
goals. They are challenges to do the extraordinary. Getting your team members
to think this way gives them a different
perspective, spurs them to think big and
helps break down barriers. Recognize milestones and encourage your team members
to look back on their path. The goals that
seemed impossible last year come closer
with every milestone.
6. Consider the feedback you provide:
Understand the power of your words. What
you say forms your team’s culture and beliefs,
so always think before you speak. Set an example and lead by demonstrating the standards that you expect from your sales team.
Don’t talk about employees or disparage a
View this article and more
at scotsmanguide.com
