« matrix: warehouse lines of credit »
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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
8 Lien position: 1st
9 Lien position: 2nd
Gateway Bank FSB
11 FHA / VA
12 Fannie Mae / Freddie Mac
13 HLTV programs
14 Home equity
15 Home improvement
16 Jumbo residential
17 Mixed-use properties
12 13 14 15 16 17 18
Nation’s top warehouse bank (Federal Savings Bank), Quick$ale®, off balance sheet (purchase facility), early wires, TPOs
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« tools and tips »
By Chik Quintans
Certified mortgage planner
A campaign to make five calls, write five notes and send five e-mails goes a long way
With the homebuyer tax credit now expired, with the excep- tion of military personnel,
the government is beginning to wean
the real estate and mortgage industries
from its stimulus program.
But as economic growth begins to
show, fears also mount that interest
rates will ascend and yield a prolonged
lull in purchase business following the
final deadline. As a mortgage broker,
you have two choices: you can wait
and see what happens. Or you can take
matters into your own hands and make
your own economy.
Really, there is only one option you
can control: taking massive action
now before it’s too late. If you are staring at your pipeline with just two or
three loans in it, what can you do to
begin filling it without breaking the
bank? Every day, make five outbound
phone calls, handwrite five notes and
send five e-mails. That’s it. Done.
by Chik Quintans
“Building Business, 140
Characters at a Time,”
“The Key to First-Time
Homebuyers’ Hearts: Trust,”
View these articles and more at
This is known as a five-five-five
campaign. It sounds simple, and on
the surface, it is. But here are the details you must know about each step to
Who do you call and what do you call
about? Let’s start with friends, family
Warm up by calling friends first. Tell
them you are calling to let them know
that you are in the process of growing
your business and that you need their
help. Ask if they will be willing to help
or if they know a friend, family member, neighbor or co-worker who needs
your help today. Often, the answer will
Whether you are speaking with
friends or have moved on to family or
clients, try not to use the word referral;
you can substitute “introduce,” which
can be stronger.
This is the critical part: Do not say
a word until they respond. It’s a basic
sales principle that after you close,
he who talks first loses. At this point,
you’ll receive one of two answers.
“yes, I do” or “I can’t think of anyone
right now.” The point is that you asked
and made them aware.
Another reason to call people: It’s
their birthday. Keep track of clients’
birthdays and call them, saying, “I
noticed on my calendar that it’s your
birthday, so I want to wish you a happy
birthday!” Keep the call off business,
but end with, “If there is anything I can
do to help, please let me know.” you
may find yourself looking forward to
Every day, write five cards by hand. This
can be the most difficult task of the
three but should not be overlooked.
When it comes to direct mail, nothing
trumps a handwritten card and envelope. Studies have shown that recipients open this mail first.
What’s a good reason to write a personal note to someone? Here are 10:
thank you for the introduction. 1.
thank you for your business. 2.
it was great catching up with you 3.
on the phone.
i’m looking forward to working 4.
with you (to a buyer’s agent).
here’s what i do, 5. and let me know
if you need anything (to a listing
here are the services i provide 6. ,
and let me know if I can help (to a
thanks for coming in today 7. (after
i was thinking about you. 8. Let me
know if I can help you in any way.
it was a pleasure meeting/speaking 9.
with you (after a first client contact).
happy birthday. 10.
Writing a note after any phone, e-mail
or face-to-face interaction will have the
maximum impact. It demonstrates that
you cared enough to make the extra effort to communicate and connect.
Writing five e-mails every day is the
easiest and most passive task. E-mail is
easy, quick and cheap. It’s best used to
follow up on a call or handwritten note.
E-mail can be a secondary method
of introduction to new real estate
agents and give them direct access to
you digitally. In addition, you can use
it to send status updates to all parties
on a transaction.
“Nothing trumps a
Although your assistants may take
care of e-mails to clients while their
loans are in play, you can let them
know you are still in the loop. That
way, they know you are still engaged
in the transaction and not just handing
it off to your assistant and processor.
• • •
Finally, it is imperative that you track
your activity daily. Track to whom you
send your five calls, five handwritten
notes and five e-mails each day. Have
a coach or manager keep you account-
able and on task.
If you can complete the five-five-five campaign every day, that’s 75
touches every week and about 300 every month. Massive activity will reward
you with massive results. Take massive
action and start today. •
Chik Quintans is a certified mortgage planner
with Atlas Mortgage in Lynnwood, Wash. Quintans is a loan-officer director for the Washington Association of Mortgage Professionals and
also serves on its social-media committee.
Visit www.facebook.com/teamcq. Reach Quintans at (425) 771-2095 or by e-mail at chik@
teamcq.com. He’s on Twitter: @chikquintans.