260 episodes

I Love Mortgage Brokering is the only podcast by Mortgage Brokers for Mortgage Brokers.

If you want to take your mortgage business to the next level then ILMB is the place for you.

You will hear stories, tips and strategies from some of the top Brokers in the country.

I Love Mortgage Brokering Scott W Peckford

    • Careers
    • 4.4, 7 Ratings

I Love Mortgage Brokering is the only podcast by Mortgage Brokers for Mortgage Brokers.

If you want to take your mortgage business to the next level then ILMB is the place for you.

You will hear stories, tips and strategies from some of the top Brokers in the country.

    How Marlon Fernando Cut 4 Hours of His Work Day

    How Marlon Fernando Cut 4 Hours of His Work Day

    [1:35] How did you get into the mortgage business?
    I’ve been a broker for a total of 10 years, 5 of which have been in Toronto. I started out at Scotiabank as a call centre agent, then moved up to a financial advisor and was still unsatisfied. I love lending and working on financial plans. Banks only offer one product and have stringent qualification rules. [4:16] What is a quote that has had an impact on you? How do you implement it in life?
    “The harder I work, the more luck I have.” -Thomas Jefferson. It’s the motto of my life. I came to Canada as a refugee and started from zero. [5:36] What failures have you had in your career and what were the lessons learned?
    Relying on others and thinking they had my best interests in mind. In my previous business I did all the work while my partner reaped the benefits. I learned to work my own way. [9:32] What changes have you made in your systems to improve your business in the last 12 months?
    Mapping the customer journey for more clarity. Hiring assistants and expanding my staff and delegating to them. Streamlining my software to G-Suite and using the HubSpot CRM. [13:25] How has that affected the hours you put in?
    I used to work 8am to 11pm. Now I am able to work 8am to 5 or 6pm. [14:00] What improvements have you made in lead generation?
    I have always loved talking to clients and I have implemented a better structure with my calls. [15:25] Are you a naturally structured person or was it a difficult thing to implement?
    I would say I am a hybrid. There are certain routines and structures in my life and work that I have. Implementing structures in brokering took time because it is so different from banking. [17:40] If you could re-do the first 90 days of starting your business, what would you change?
    I would reach out to as many people as possible, networking and building a strong circle. [18:39] What are your takeaways from the 10 Loans a Month program?
    Recognizing the value of implementing structure in my business. Learning the need to adapt to change. [19:39] How has your view of Game of Phones changed since you began the program?
    Initially I was skeptical of it. After lockdown began, I decided to try it but set my own rules. I set a target of 40 calls a day and to utilize my existing database. [22:03] What is the one thing that is holding back brokers?
    Procrastination. [22:39] What are some of your favourite resources to use?
    HubSpot. Lender Spotlight. G-Suite. Evernote. Finmo. [23:43] What book would you recommend everyone read?
    The E Myth by Michael E. Gerber. [24:20] If you had $100,000 to invest in your business, what would you do?
    I would invest in better digital marketing and utilize my database and email lists more. Contact Marlon here: https://www.mortgagefernando.com or marlon@mortgagefernando.com
    If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.

    • 25 min
    How Toma Sojonky Increased His Mortgage Business 40% Year Over Year

    How Toma Sojonky Increased His Mortgage Business 40% Year Over Year

    Today we are joined by Toma Sojonky. Toma comes from a background of real estate investment and development. Now, he runs a thriving mortgage business. Last year he funded $20 million and this year has already funded $28 million, despite COVID-19. He joins us today to discuss his background and sales strategies.
    [2.25] How did you get into the mortgage business?
    I started as a real estate developer and investor in 1992. I learned the process and it seemed like a natural transition to make. [3.18] How long were you in the flipping and development side of the industry?
    I bought my first property in the spring of 1992 and have been involved in over 900 residential units. [3.45] What was the deciding factor in switching to mortgage brokering?
    I am an analytical, detail oriented and entrepreneurial individual. Mortgage brokering fit with my personality. [4.35] What quote has had an impact on you and how do you apply it to your business?
    ‘It’s easier to act your way into a feeling than feel your way into an action.’ -Ryan Stewman. I apply this by getting in front of people I don’t know every day. [6.26] What failures did you have in the early days and what lessons have you learned from them?
    I operate in higher price points in the business and found myself competing with banks. I have learned to screen on the front end to avoid wasted effort and time for me and clients. [7.40] What have you changed in your sales process in the last 12 months?
    I hired and assistant and learned to let go and delegate. [8.33] What would you say to people who are considering hiring an assistant but are afraid to?
    It allows you to free up time. Hire part-time until you know the market and can commit to greater, more permanent growth. [9.47] How did you know it was time to hire someone?
    I was forgetting which documents went where and was experiencing burnout at home. [10.27] If you could go back and re-do the first 90 days of setting up your business again, what would you change?
    I would spend the nights focusing on learning products and expanding my knowledge. Implement stronger organization and increase my circle of influence quickly. Make use of time management discipline to focus on productivity. [12.08] What is the biggest change you have made to your business systems in the last 12 months?
    Using Finmo, an online document requesting and retrieval system. It has saved a lot of time on intake and allowed more time to build rapport with clients. [14.06] What has been your biggest takeaway from the 10 Loans a Month program?
    No matter how old or new to the business you are you can always learn new scripting and adapt to your brand. [15.28] What is the one thing holding brokers back from success?
    Fear of inexperience and rejection. [16.09] What is your habit for success?
    Time management. [16.42] What are your favourite business tools?
    Dropbox. DocuSign. [17.03] What percentage of your clients utilize digital signatures?
    100% [17.10] What book would you recommend?
    Can’t Hurt Me by David Goggins [18.24] If you had $100,000 to invest in your business, what would you do?
    I would invest in relationship building with referral partners and clients.  
    Contact Toma here: https://www.tomasojonky.com
    If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.
    Finmo: https://finmo.ca/scott
     
     

    • 19 min
    How Sai Lee Flipped 27 Houses Into a Thriving Mortgage Career

    How Sai Lee Flipped 27 Houses Into a Thriving Mortgage Career

    Today we are joined by Sai Lee. Sai started out flipping houses and has flipped 27 in total, leading to a mortgage business of his own. Sai is a client of the 10 Loans a Month program and an extremely dedicated broker. He joins us today to discuss his career journey and how the program has helped him.
    [2.05] How did you get into the mortgage business?
    I started out as an IT Consultant and gradually transitioned into real estate as an investor/buyer. When I tried to keep some of the properties, I was told I didn’t qualify for financing and that spurred me on to make a commitment to learning everything I could about the industry. [3.40] What quote has had an impact on you and how do you apply it to your business?
    “Successful people do what unsuccessful people are not willing to do. So, don’t wish it was easier, wish you were better.” -Jim Rohn. The mortgage business is hard, and I approach it with a perspective of thinking about how I can improve. [4.50] What failures did you have in the early days of your business and what lessons have you learned from them?
    The first few files I had, I pushed too hard and took shortcuts. One property was a suitor rental, which I missed. Now I know there are no shortcuts and you need to go through all paperwork thoroughly. [7.00] What do you differently now?
    I get all required documents up front. Also, I constantly refine my process. The little things can blow up the file. [7.48] If you could go back and re-do the first 90 days of setting up your business again, what would you change?
    In the first 30 days I would sit down with my team and have them walk me through files so I could learn the process from start to finish. Then I would read Dustin’s Be the Better Broker series and take your course. [8.45] What is the biggest change you have made to your business in the last 12 months?
    Taking your course. I’ve been busy ever since. [9.34] How has that impacted your business compared to last year?
    This year I am set up for a great year. Most of my business last year was in the last quarter. [10.05] What’s been the most surprising thing about the mortgage business for you?
    That a lot of seasoned brokers still don’t have all the answers. The industry changes fast. [11.23] What is the #1 thing holding brokers back from success?
    Who you associate with matters. It’s important to build a positive network. [12.35] What is your habit for success?
    Picking up the phone and making calls everyday. [12.55] Was it always easy for you?
    No, and it still isn’t, but it is necessary. Seeing the results is how I get motivated. [14.05] What internet resources or software do you use to make your business better?
    Finmo. [14.32] What book would you recommend?
    Relentless by Tim Grover. [14.50] If you had $100,000 to invest in your business, what would you do?
    Buy a residential space, put my business in there and possibly rent space to lawyers, accountants etc. Contact Sai here: https://www.mortgageguys.com/
    If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.
    Finmo: https://finmo.ca/scott

    • 16 min
    How Denise Laframboise Doubled Her Business 3 Years in a Row

    How Denise Laframboise Doubled Her Business 3 Years in a Row

    Today we are joined by Denise Laframboise. Denise is a top broker with Element Mortgage Group and comes from a health care background. She joins us today to discuss her career journey.
    [2.20] How did you get into the mortgage business?
    I was unhappy with my career at the time and began researching new careers then I took a 5-day course. [2.40] What was your previous career?
    I was in Medical Radiation Technology. [3.20] Was it really only a 5-day course?
    Yes, then it was just a matter of finding someone willing to take me on under their license. [3.40] What is a quote that has had an impact on you?
    “Your life will become better by making others lives better” ~ Will Smith [3.52] How do you apply that to your business and personal life?
    If there is any way I can help someone, then I have to try. Volunteer work in the community. Supporting small businesses on social media. I realized I could help those same business owners which has led to a lot more B lending than anticipated. [5.40] Is that still the case?
    Typical clients have a high net worth, structured differently to what the A lender stress test allows to qualify. [5.55] Where does your business come from?
    Word of mouth and referrals [6.22] What percentage of business would you say comes from BFS?
    45% [6.32] Are there many accountants you work with?
    I would much rather work with accountants. If they are doing their job, they are writing off all your income. Banks say you don’t make any money and don’t qualify. Alternative lenders look at the whole picture. [7.54] What failures have you had in your career and what were the lessons learned?
    Balancing shift work and a family. I failed at being someone else’s employee. I learned to use scheduling, making me in control of the hours I want to work. [9.45] Do you block off time in your calendar so clients can see your availability?
    If you called my phone at 2am I would answer and ask how I could help you. [10.40] If you could go back and re-do the 1st 90 days of setting up your business again, what would you change?
    I would do everything exactly the same. [10.49] What did you do in your 1st 90 days that was useful?
    Listened to this podcast, made lists of books to read. Took note of ideas I could implement. Making weekly videos on different topics. [11.37] Are you still making videos?
    Yes, but not as routinely as when I worked part-time. [12.20] Were you intimidated producing video content?
    People give things more power than they deserve. Only interested audiences will watch, everyone else will keep scrolling. [13.05] Have you got more comfortable making video?
    I don’t like public speaking but I just pretend only 1 person is watching. [13.30] What is the biggest helpful change you have made to your business in the last 12 months?
    Committing to an IT team and integrating systems to use Microsoft. [15.05] What kind of CRM do you use?
    It links to social media. It is separate from Microsoft but can link to G Suite. [15.56] What are your takeaways from the 10 Loans a Month program?
    Be organized with your systems. Having a strong network and community is important. [17.12] What do you think is the one thing holding people back from success?
    Not having a really strong, reliable team. [18.14] What one thing has made you successful?
    Determination. [19.00] How do you implement that with so much on your plate?
    Something is better done than perfect. With 3 kids I don’t have time to overthink things. [19.53] What are your favourite business tools?
    Microsoft Planner Outlook Signatures [20.48] What one book would you recommend to others?
    To Sell is Human by Daniel H. Pink [21.29] If you had $100,000 to invest in your business, what would you do?
    Promote my current assistant and hire another one. Improve my database. If you’re interested in becoming a deal

    • 22 min
    1500 Calls a Week with Dustin Carlson

    1500 Calls a Week with Dustin Carlson

    Today we are joined by Dustin Carlson, mortgage broker and loan officer based in Houston, Texas. Dustin makes between 1,200 and 1,500 calls a week and he’s here to tell us more about his business and process.
    This episode is sponsored by Finmo. Finmo is Canada's fastest growing mortgage origination platform. To find out if Finmo is right for your business visit www.finmo.ca/scott
    [2.40] How did you get into the mortgage business?
    Junior year, as an undergrad, I worked at Circuit City making 55-70k a year on commission. They abolished commission and put wages to hourly. [3.35] Why mortgage brokering?
    I was accustomed to a certain lifestyle. I interviewed at a small family brokerage. They trained me and put me at a desk with a phone book and a phone and got me to start making calls. [5.28] Were you entirely commission based?
    The first 90 days were extremely hard to adjust to. I spent my first $800 on direct mailing to rural Wyoming, which saw a great response so I expanded the campaign to other areas. [8.10] What kind of deals were they?
    Wyoming was mostly Alt-A. Albuquerque was mostly FHA streamlined deals. [8.59] What degrees did you obtain?
    Business with minors in Chemistry and Biology, and a Masters in Entrepreneurship and Finance. [10.20] What strategies currently work for you?
    A combination of calls and direct mailing. [15.16] What percentage of deals do you get from leads vs. realtors vs. past clients?
    Normally it is a pretty even split between the 3. Currently online conversion is double usual. [17.48] What is the most calls you’ve made without getting a deal?
    Around 500. [19.30] How do you psychologically handle that volume of ‘no’ answers when it happens?
    Knowing it is a law of averages and that, statistically, it evens out. [20.07] What do you make per dial previously vs. currently?
    Usually it was around $5 per call. Now it’s closer to $20 - $30. [22.01] What is your process for making calls?
    I use a CRM and dialer in one. I use a 6-month sequence of calling leads. Engagement then changes that client to a different sequence. [24.37] What is your process for agent calls?
    Weekly calls every Friday and emails on Wednesday. [26.34] What about for realtors you’ve worked with in the past?
    Monthly calls and an email every fortnight. [28.57] What is your sequence for calling past clients?
    1 day, 3 days, 7 days, 37 days, 67 days and 110 days. [32.10] How often do those calls lead to referrals?
    Fairly often, the best return is on the 1st and 3rd day calls. [34.21] Do you get deals from previous clients that are moving or selling?
    Yes, staying in contact helps to plant the seed by letting them know I also deal with purchases. [35.35] What led to the sequence of calling every 110 days?
    I initially called every 90 days but clients found it too frequent. [37.10] Can you tell us about your experience interacting with clients at our Game of Phones sessions?
    I’m very competition oriented, so I enjoy the focus and having results tracked. I love helping people, including seeing others get leads. [39.19] How did you develop your strategy for multi-tasking while making calls?
    It was necessity. My workload is usually 50 cases at once that I follow start to finish and there weren’t enough hours in the day. [41.39] What is your advice for anyone struggling with making calls?
    Call through people you have an existing relationship with. You will have the highest success rate but the most emotionally painful denials. Just doing it facilitates conversion. If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.
    Finmo: https://finmo.ca/scott

    • 46 min
    Transitioning from Insurance to the Mortgage Industry

    Transitioning from Insurance to the Mortgage Industry

    Today we are joined by Lori Snowden, previously a top financial planner and life insurance agent who realized she wasn’t happy in that industry. Now, she has successfully transferred over to the mortgage business and we’ll hear about what her transition has been like.
    [2:05] How did you get into the mortgage business?
    I was teaching for a short time and then I became a life insurance agent and financial planner. I was really good at it, but I hated it. I was offered a position to get out as a mortgage broker and I loved it.  [3:03] What did you like more about mortgages over insurance?
    One is asking for money and the other is giving money. [3:18] What lessons did you take from selling insurance that you were able to take over to your mortgage business?
    Life insurance taught me to teach people the difference between a need and an option, which I transferred over to mortgage brokering. [5:09] Can you share a quote that’s really impacted your life or business?
    I have a couple: “easy to do, easy not to do”, “effort equals income”, “what is measured is managed”, and “I hope you live a life you are proud of. If you are not, I hope you have the strength to start all over again.  [7:50] Can you share something that you failed at, but learned a lesson from?
    I had become complacent. I was cutting corners, I had a lot going on at home, and I wasn’t doing my job correctly. I am lucky nothing worse came from it. To fix it, I went back to what I know and started educating myself again.  [10:24] What did you do specifically to get yourself out of your rut?
    I did programs through Darren Hardy and Michael Bernoff, as well as used NLP, neurolinguistics programming. [12:45] What are a couple things you do in the morning that set the tone for your day?
    I have a morning routine that starts the night before. I want my email to be on the top of everyone’s inbox, so I draft it the night before and then send it at 5 AM.  [14:42] If you were starting over today, what would you do in the first 90 days to keep your business going?
    I would focus on keeping my morning routine and knowing that failures are part of the journey.  [16:40] What’s the biggest change you’ve made to your business in the last 12 months?
    Definitely the phone calls. Protect your hour of phone calls. It’s number one on your list every day.  [17:23] What has made making calls easier for you?
    It’s your mindset. You make an easy call and then you make a hard call. You have to ignore your call reluctance.  [18:53] What was your single biggest takeaway from the courses?
    Realtors are a huge part of your career. Embrace them and look after them.  [20:50] What is the number one thing holding most mortgage brokers back from being successful?
    Courage, self-discipline, and trying to change too much at once.  [22:03] Do you have an internet resource or software you use to make your business more successful?
    I’m not the most tech-savvy person. Right now, Trello is my go-to. [22:45] Do you have a book you would recommend?
    How to Win Friends and Influence Others by Dale Carnegie. [23:40] How would you invest $100k into your business?
    A good underwriter for sure. A good underwriter is the best thing you can do for your business. The second best thing is a good training program or coach.  Connect with Lori through email: loriannsnowden@gmail.com
    Connect with Lori through text: (416) 303-3362 
    If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.
    Finmo: https://finmo.ca/scott
     

    • 27 min

Customer Reviews

4.4 out of 5
7 Ratings

7 Ratings

StEJohn ,

Loved it

Keep up the good work. As a former Owner of a Mortgage Brokerage Company I love hearing interviews with people who treat the profession with integrity and passion.

Top Podcasts In Careers

Listeners Also Subscribed To