Follow myRateTrack on Twitter

June 18, 2009 by myratetrack

The refinance boom of 2009 has kept things busy — apparently too busy to spend time much blogging.  The good news is, you can now keep track of what is happening with myRateTrack on Twitter.

 twitterfollowme

 

Follow myRateTrack on Twitter and the Quick Refi Calculator is our gift to you!

Find myRateTrack on twitter.

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

myRateTrack.com WEBINAR is a go.

December 3, 2008 by myratetrack

If you are a mortgage professional and you have not had a chance to see inside the myRateTrack.com system, you need to attend an upcoming WEBINAR.

If a picture is worth a thousand words and if seeing is believing  . . . then, a 30 minute live demo of the myRateTrack.com system and website, must be worth . . . well, I don’t know how that translates exactly.  But I do know that it will be worth your 30 minutes.

 

Marketing with myRateTrack.com (15 minutes) 

Live Demo with myRateTrack.com (15 minutes)

 

Click here to see dates and register for an upcoming WEBINAR.

 

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

myRateTrack.com is back in Vegas.

November 17, 2008 by myratetrack

After attending the Mastery Business Plan event last week at the Mirage in Vegas, myRateTrack.com is back in Vegas at the NAMB West Conference.  If you are in town, make sure to stop by the booth and say hi (or give me a call before the tradeshow on Tuesday and we can catch up live and in person).

mbp-2008-booth2

Instead of commuting all the way back to the east coast and shipping my booth material back and forth and being forced to pay the $350 to the exhibit folks for “handling” my shipment (see post below on my recommendation for the US government to regulate the convention industry), only to turn around and hop a plane back to Las Vegas, I decided to take a few days to get out and get some fresh air.

So, I took a short dam trip with a bunch of other dam tourists and got to go on a great dam tour (Hoover Dam jokes are funny and seemingly never get old).  See great dam photo below.  And then from there, drove out to the Grand Canyon for a few days of great views and fresh air. 

hooverandgrandcanyon1

Rest and refreshed . . . ready for NAMB West.  Hope to see you in Vegas!

 

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

The un-message: we are not a pricing engine.

November 14, 2008 by myratetrack

Mastery Business Plan in Las Vegas was a great success.  Over 1,000 mortgage brokers from around the world gathered in at the Mirage on the Vegas strip to hear from some of the best trainers, speakers and originators in the business.  That’s right . . . around the world!  I talked to a few guys from Canada (aay, thanks for stopping by the booth-aay) and a handful of Aussie-friends (shout-out to my mates from down-under!).  In addition to the early-morning breakout sessions, the key-note addresses, the panel discussions and the daily updates from MMG, originators had plenty of great opportunity to walk the exhibition hall to find out more about some of the best mortgage-related products and services out there.

the-mirage2

It can be tough for exhibitors in this kind of situation.  Participants are already suffering from information-overload.  They exit the speaking hall hoping to utilize the breaks to check-in with the office, return a few phone calls, and grab a quick bite to eat and maybe a re-fresh on the coffee.  My job, to tell originators about myRateTrack.com in 30 seconds or less — messaging is critical.

In the past, I’ve tried explaining the sytem this way:

“myRateTrack.com is an automated web-based marketing tool for originators allowing you to market to your past clients with customer-specific refinance reports.  Reports are branded with your information and are exactly specific to your client’s current loan information.  RateTrack refinance reports are delivered by email to the customer automatically either weekly, monthly or quarterly depending on their individual preference or are available instantly on-line.”

This message, while good and accurate, when delivered to an already information-filled brain, generally returns the following listener error: “uhh . . . say that again.” 

So to help passer-byers decide if they wanted and needed to talk, I changed the message to the new un-message, written simply on a myRateTrack.com notepad. 

“myRateTrack.com — we are not a pricing engine.” 

The un-message worked great,  partly because our name can be easily misunderstood, partly because it made people laugh, and partly because people instinctively grad something that is handed to them.  Without the new un-message, the common (incorrect) assumption had been something like, “yeah, I know, you track my rates, I don’t need, I already have it with [blank], etc.”  But for myRateTrack.com, because the system is focused on marketing to the consumer, the “my” actually refers to them.  The loan officer helps the client track their rates and their refinance options . . . for example (correct assumption), ”I love my loan officer because he/she helps me track my refinance options with a personalized email report.  And, he/she walked me through setting my target refinance rate and set it in the system so we’ll both be notified when the time is right to lock-in and move forward.”

Maybe originators should try something similar? 

“[INSERT NAME HERE] — I am not a good-faith-estimator.” 

“[INSERT NAME HERE] — I am not simply an interest-rate-quote’er.” 

“[INSERT NAME HERE] — I am not just a loan-application-taker.” 

If you were in Vegas this week, you are well equipped to say any one of those with great confidence . . . assuming you implement some of what you know now!!  More on that next time.

 

Maybe I should consider a new disclosure at the bottom of each blog post.  myRateTrack.com is not a pricing engine.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

Mastery Business Plan 2008

November 11, 2008 by myratetrack

The credit crisis, the mortgage melt-down, bank failures, the sub-prime mortgage debacle, ever-growing billions of dollar government bailout, stricter underwriting guidelines, loan programs disappearing, home values declining . . . and on and on and on.  These are the points that have consumed most loan officer conversations for 2008.  At some point, dwelling on the negative (and especially looking backwards and dwelling on the negative) has to stop.  At Mastery Business Plan tonight — thanks to Barry Habib and Todd Duncan — it did.

mbp_2008

For the next few days, a group of 1,000+ mortgage professionals will learn from some of the best in the industry.  The goal – to get their business plans in order for 2009.  My goal – to spread the word about myRateTrack.com – and to find out how it might fit well in to that plan.

Here are a few highlights of the night:

- (Barry Habib) – People WILL continue to buy houses, and those people will need mortgages, and they will need mortgage professionals

- (Barry Habib) – Things WILL get better

- (Todd Duncan) – Purpose is more important than profits

- (Todd Duncan) – Value creation is more important than value added.  You must take the value add INTO the relationship. 

- (Todd Duncan talking about the over-use of certain promises, one in particular of being a “Lender for Life”) – ” . . . if you want your clients for life, you need to talk to them during their lives.”

- And then on the point of not measuring success by past disappointments, failures, etc.  Did you know Michael Jordan missed over 9,000 shots in his career?

- Did you know that 26 times he was given the opportunity to make the game winning shot and he missed?

There was a lot more to what Barry said in setting the stage for the next few days, and to what Todd addressed in the key principles to success, but those were a few things that hit-home with me, that resonated with me as to why I created myRateTrack.com, and a few things that helped confirm why I traveled across the country to spend four days with some of the best mortgage professionals in the country.

 

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

myRateTrack.com in the Big Easy

August 27, 2008 by myratetrack

NAMB Southeast in the Big Easy . . . not big, not that easy.

The NAMB Southeast Tradeshow was an attempt for the National Association to take over an event in the hopes of consolidating state associations in to one centralized annual tradeshow and convention (Florida, Georgia, South Carolina, Alabama, Mississippi, Louisiana, Tennessee and maybe even Arkansas).  in theory – and possibly even in a booming market - this is a great idea.  It’s great for continuing education reasons; it’s great for brokers in different markets to share ideas and it’s great for exhibitors to be able to attend one main event and get the word-out to a large audience of mortgage brokers.

Apparently, with out much reason to party, mortgage brokers didn’t show up in the hundreds or thousands as hoped (more like the dozens . . . well, more like the three dozen).  If your state association cancelled this year’s state specific event to opt for the NAMB Southeast, chances are the committee to reinstate that annual event is forming soon.

nambse2008b

Despite a slower than expected turnout, myRateTrack.com got the Presidential (GAMB) Treatment at NAMB Southeast! 

(above: JD Crowe – current GAMB President, Jeffrey Pinkerton – with myRateTrack.com, and Walter Moody – past GAMB President) 

 

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

myRateTrack.com in Broker Magazine — July 2008

August 20, 2008 by myratetrack

Just in case you missed the July issue of Broker Magazine, check out the nice article with some details about the myRateTrack.com system.  Click on the magazine cover below to see the article.

pic_brokermag_july_coversmall

 

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

How about some government regulation in the convention business??

August 14, 2008 by myratetrack

The news and media is, as you know, buzzing with the US Government’s role in the mortgage melt-down — national registration of loan officers, stricter rules on what types of loans can and can’t be done, maximum fees allowed, etc.  For the past 12 months, the mortgage business has been under severe scrutiny.  The actions of some mortgage lenders, sub-prime lenders, and some mortgage originators have helped to create an economic ripple of global proportion.  And whether you are a big-government democrat, a big-business government republican, a small-government libertarian or even a gun-slinging anti-government “you can’t make me pay my taxes” (what DO these people call themselves?  colonists?? little-house-on-the-prairie-ans??); no matter where you find yourself politically, most people would agree that the mortgage melt-down, and the economic slump it has created, needed and continues to need some government intervention.  (Although depending on where you fall politically, you may refer to this as government-assistance, government-bailout, or government-regulation).

To my point . . . as the mortgage industry is coming under greater regulation, the “convention” industry is mind-boggle-ling (not sure if that is a word) expensive and apparently, unregulated.  And it’s not just expensive because it is complicated with lots of moving parts — it’s expensive because the facilities hosting the events are amazingly and boldly ripping companies off.  You want carpet on the floor (which is required), that will cost you $150; electrical-service and installation (known to us in the free-world as an extension cord and power)? $150; internet connection even to the hotel wi-fi? $700 per connection; a table?  with a skirt? chairs? use of the bathroom? (just kidding on that one) and on and on and on. 

A few weeks ago, we attended the FAMB (Florida Association of Mortgage Brokers) Tradeshow and Convention in Kissimee, FL — it was a few miles from Disney World (a place where money flows out of pockets like the waters of the Kali River Rapids ride).  The group putting on the tradeshow with FAMB did a great job communicating everything to us as exhibitors, making it easy to register, etc.  We had a great response at our booth and met hundreds of professionals in the mortgage industry.  It was well worth the time.  The fee for the booth rental and the hotel room and the other accommodations was absolutely fair and overall it was a great investment for myRateTrack.com.  For those of you that skim blog posts, let me repeat, the fees to attend the convention, totally fine.  It was the “extras” that were the killer (you know, the under-body rust protection stuff).

 

So, unlike some of the multi-plasma-screen, smoke-machine, small-bank-branch office constructions of our neighboring exhibitors, we decided that the first big tradeshow for myRateTrack.com would be on the simpler scale of things.  A simple booth for a company with a simple concept – loan officers, market to your past clients and new leads.  Give them what they need — mortgage information specific to their situation (a RateTrack report) and great, professional mortgage advice (that’s where you come in). 

Looking forward to our next tradeshow in New Orleans coming up August 22-26th.  With such a big response in Florida, we’ve got bigger banners for the Big Easy!!  Hope to see you there!

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

myRateTrack.com at the FAMB in Orlando

August 1, 2008 by myratetrack

Two weeks ago, myRateTrack.com had it’s first major event as an exhibitor — at the Florida Association of Mortgage Brokers Convention in Kissimee, FL (near Disney).  We talked to hundreds of mortgage professionals and people in the industry and had a great response to the new site and service. 

famb2008

If you didn’t have a chance to come down to Florida to visit us at our booth, you might appreciate hearing the most commonly asked questions (and the answer):

Question:  What is myRateTrack.com?

This question was generally mouthed in silence as people walked slowly up to the booth (or walked past it, not knowing if it was safe to stop or not).  “hmmm . . . my . . . rate . . . track . . dot . . com.”  Most ofen followed up with an audible, “So, what is myRateTrack.com?”

Answer:  myRateTrack.com is an automated web-marketing system for mortgage professionals (pause).  We send out, by email, customer-specific refinance reports to your past clients and new leads.

As a new web-company (launched in April 2008), brokers had lots of great questions about how the system works, how interest rates are calculated on the RateTrack report, how clients are added to the system, how reports are sent out, how the promo code and partner marketing feature works — all GREAT questions.  One passer-byer (who maybe had spent too much time at Pleasure Island the night before) asked, “So . . . do you guys have a website or something where I can check everything out?” 

My answer, spoken softly and politely, “uh . . . yeah.  It’s . . . uh . . . w w w dot myRateTrack dot com.”

 

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

Should you refinance your mortgage?

July 12, 2008 by myratetrack

“Should I refinance my mortgage?”  This is certainly one of the most popular questions of 2008 . . . maybe 2nd or 3rd only to “Who do you think it will be, Obama or McCain?” and “is the 3G network really that much better on the new iPhone?”  Well, I don’t have the answer to the other questions (speculatively, I would say – I have no idea and it’s still a phone, right?), but I do have the answer to the first question.  Should you refinance your mortgage?  Yes.  Yes, you should refinance your mortgage.

Seems simple enough, right?  Well, actually, the follow up question to “Should I refinance my mortgage” is the key to the whole thing – “When should I refinance my mortgage?”  The answer: you should refinance your mortgage once the cost of the refinance can be reasonably expected to be recouped over time by the amount of monthly savings based on how long you are planning to stay in your current house (or at least keep your mortgage).  You see where this is going . . . more questions.  “Well, what is the cost of doing a refinance?”  and “How long are you going to stay in your current home?”  “And if it is a good idea for me to refinance now, is there a chance that rates will go lower, and maybe I should wait???”

Bottom line — because mortgage rates change daily (and in the past few months, they have been changing mid-day as well), and because closing costs and interest rates differ based on your loan amount, your loan-to-value (how much un-mortgaged equity you have in the house), your credit score and a handful of other factors, when to refinance your mortgage is really a combination of knowing when it makes sense to refinance (at what rate) and knowing when it’s time to refinance (based on market conditions).

On January 15th, mortgage rates dropped — down to 5.25% or even 5.125% for a 30 year fixed rate loan — only to jump up by 0.5% or more by the end of the day.  Because of the quick move in the market, many consumers (while trying to figure out the “best deal” and trying to sort out different options — 0% origination, points vs. no points, etc.) missed out on the best mortgage rates in years.  To prevent this from happening to you (or from happening to you again), you need to know two things.  1.  At what rate should you consider refinancing your mortgage.  And 2. When that rate is available.

If only there were a system out there . . . aaahhhhhhhhhh [insert angelic singing and bright lights].

myRateTrack.com is a new service that allows consumers to manage their refinance options with the expert advice of their mortgage professional.  The system includes RateTrack refinance reports (a refinance report specific to your loan), and it allows consumers to set a target refinance rate.  When the target refinance rate is availble, both the mortgage professional and the client are notified that it’s time to refinance (or at least quickly consider the option).

If you are a mortgage professional — and lost even ONE loan on January 15th — don’t let it happen again!  Check out our website for more information on getting set up your myRateTrack.com account. 

If you are consumer and are interested in the service, tell your mortgage professional to get you signed up (for FREE)!!  And then you’ll know for sure — 1.  At what rate you should consider refinancing your mortgage (it’s about a 10 to 15 minute conversation with your mortgage consultant) and 2. When that target rate is available.  Don’t wait until mortgage rates dip down to have that conversation.  Get ready by finding out now when you should refinance; set your target rate in the system . . . and you’ll be ready to refinance when the time is right.

And then the question of the year won’t be “Should I refinance my mortgage?” but “Have you heard about myRateTrack.com??”

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.