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.
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