Laugh, Lend and Eat

Fobby Naghmi
  • 5.0 (5)
  • Marketing
  • Biweekly

Laugh, Lend, and Eat is where business meets banter. Hosted by Fobby Naghmi the show explores mortgage lending, leadership, fintech, and sales—with a side of humor and food talk. Known for his ability to ask candid, thought-provoking questions, Fobby creates a space where guests open up and real insights shine through. It's smart, relaxed, and made for professionals who want to grow, lead, and laugh along the way.

  1. 3h ago

    This One P&L Number Could Sink Your Branch | Mortgage P&L Breakdown, Pt. 2

    When Gabe Gillen opens a branch P&L, he looks at one number first. If it's over 50%, that branch has to do a lot of volume just to make money.In Part 2 of our Mortgage P&L Breakdown series, Fobby Naghmi and Justin Neal bring back Gabe Gillen, Divisional President at AnnieMac Home Mortgage, to go past the definitions and into how leaders actually read a P&L: what to look at first, what should worry a new P&L holder, and whether every loan officer should be given one.In this episode:• Commission-to-margin ratio: the first number Gabe checks• Why volume matters more than units• Concessions, and why they belong in your pro forma• "Flat" isn't failing if you're reinvesting and growing• Why a 180-unit producer should own the upside• Promoting top producers into management (and when it backfires)• The expense new P&L holders cut too soon• Should someone with no growth plan get a P&L?New to the series? Start with Part 1, "Mortgage P&L Breakdown: What We Wish We'd Known."CHAPTERS00:00 Intro02:02 Picking up where Part 1 left off04:18 The first number Gabe looks at on a branch P&L06:24 Volume vs. units09:17 The top producer you're losing money on10:49 "How's your P&L going?" Asking recruits the hard question14:12 Concessions: the number that should worry a new P&L holder17:04 Six months in: profit or growth18:29 Why a 180-unit producer should own the upside20:36 Promoting top producers to manager21:55 Justin's P&L mistake23:40 The lesson Gabe wishes he'd learned 10 years ago26:58 The expense new P&L holders cut too soon33:29 Why companies give P&Ls to loan officers35:21 What if they have no vision for growth?38:10 Are we all becoming mini brokers?39:04 Next time: LO compensationFollow Laugh, Lend & Eat so you don't miss Part 3, and leave us a rating if this one helped.Laugh, Lend & Eat is a podcast for loan officers, branch managers, and mortgage leaders.

  2. Oct 28

    Tacos, Trade Shows & Truth Bombs

    Dalila Ramos goes to more mortgage conferences than anyone we know: over 20 this year. So we asked her what really happens at them, and she brought the truth bombs. Before she joins, Fobby and Justin break down a rough morning of housing data. September housing starts missed expectations, pending home sales fell to the lowest level in the index's history, and buyers are backing out of contracts at a pace processors say they've never seen. What does that mean for inventory, first-time buyers, and the loan officers trying to serve them? Plus: are 2-1 buydowns still worth offering? Then Dalila breaks down AIME Fuse in Austin vs. MBA Annual in Chicago. One is built for the people in the field, the other for the people making decisions, and she makes the case that loan officers need to start showing up to both. We also get into why brokers are thriving right now, why broker shops struggle to recruit from big IMBs, and why ops teams (processors, closers, post-closers, even underwriters) have nowhere to go to get fired up. And we finally settle the taco debate. Kind of. Find Dalila Ramos on LinkedIn, Instagram, Facebook, and YouTube Show Notes / Chapters 00:00 Cold open: Ibiza and Justin's traveling vest01:27 Market update: the 10-year eases as September housing starts miss03:07 Fobby's read: fewer starts now means an inventory squeeze later05:12 "Date the rate" is dead, and the rent-vs-buy boiling-frog analogy07:06 Pending home sales hit a record low; buyers are walking away from contracts07:40 AnnieMac Cash2Keys plug08:54 Are 2-1 buydowns still worth it? How the escrowed subsidy works11:04 Dalila Ramos joins13:16 Least miles flown in 12 years: travel and seasons of life14:49 Is everyone faking it in conference photos?18:09 AIME Fuse Austin recap and why she attends one broker conference a year20:02 Broker shop vs. IMB: the brand-visibility problem in recruiting21:59 NEXA's leadership change, Edge, and polarizing broker brands23:36 Mortgage company names that didn't age well24:25 The Fuse surprise: brokers aren't just surviving, they're thriving26:32 Jay Duran's Alexander the Great talk and what makes an exhibit hall work28:56 MBA Annual Chicago: C-suite energy, a maze of a hotel, and marathon chaos33:18 Doom and gloom? AIME vs. MBA, LO energy vs. executive meetings35:57 Dalila's hot take: LOs need to start going to MBA36:58 Ops people deserve a conference too (quick, name your post-closer)42:04 The taco verdict: Austin vs. Chicago43:48 20+ conferences a year and still not doing "just enough"47:29 Five-year ARMs and the hottest topics at each conference49:03 Where to find Dalila, and yes, she was named after the song53:10 Wrap

  3. Oct 14

    The Loan Officers Who Survive This Market Will Own the Next One

    The mortgage market isn't getting any easier. Rates are high, affordability is a challenge, buyers are hesitant, and some experienced loan officers are deciding it's time to leave the business. But what if this is exactly the market that creates the next generation of top producers? In this episode of Laugh, Lend & Eat, Fobby Naghmi and Justin Neal have a candid conversation about what's happening in the mortgage industry, why waiting for interest rates to fall isn't a business strategy, and how the loan officers who adapt today could have a significant advantage tomorrow. We dig into the affordability crisis and why comparing today's mortgage rates to those of 30 years ago ignores a critical factor: home prices have changed dramatically, and household incomes haven't kept pace. We also explore the opportunities hiding in today's housing market. Less buyer competition, seller concessions, and greater negotiating power can create opportunities for borrowers who are financially prepared. But this conversation goes beyond interest rates. What happens when loan officers spend more time watching the news than prospecting? What happens when recruits decide to wait until the market improves? And what separates the loan officers who build lasting businesses from those who disappear when things get difficult? As Fobby explains, "Good sailors are made in bad weather." The mortgage professionals who learn to prospect, build relationships, solve problems, and provide sound advice in this market are developing skills that will serve them for the rest of their careers. In this episode, we discuss: Why today's mortgage affordability crisis is different from previous high-rate environments. How loan officers should advise buyers who are uncomfortable with their potential mortgage payments. Why a challenging housing market can create opportunities for prepared buyers. The importance of purchase price versus interest rate. Why waiting for the market to improve can hold back your mortgage career. How difficult markets develop stronger sales professionals. Why fewer loan officers competing for business could create opportunities for those who remain. How becoming a trusted adviser creates customers and referral relationships for life. 00:00 – Welcome to Laugh, Lend & Eat 00:30 – Fobby and Justin kick things off 01:30 – Music, reggae, and a little podcast banter 04:40 – Mortgage rates, Treasury yields, and the market 06:00 – Why comparing today's rates to 30 years ago is misleading 09:00 – Home prices, household incomes, and affordability 10:15 – What should loan officers tell nervous homebuyers? 12:25 – The opportunities hiding in today's buyer's market 15:00 – Seller concessions and negotiating power 16:00 – Comparing home prices and mortgage payments 17:04 – You can refinance the rate, not the purchase price 18:30 – Why mortgage rates rise quickly but fall slowly 19:00 – When news and uncertainty paralyze buyers and loan officers 20:20 – Why today's market demands stronger prospecting skills 21:20 – Good sailors are made in bad weather 21:35 – Why waiting until next year isn't a growth strategy 22:40 – Political uncertainty and the bond market 24:15 – Loan officers retiring: Opportunity for those who stay 24:45 – Why trusted advisers will win the next market You don't get to choose the mortgage market you work in. But you do get to choose how you respond to it. The loan officers who keep learning, prospecting, and building relationships today may be the ones who own the next market. Subscribe to Laugh, Lend & Eat for conversations about mortgage lending, leadership, recruiting, and the business of building a successful career in this industry.

  4. Oct 11

    What’s Inside Your P&L? | Mortgage P&L Breakdown — Part 1

    Most loan officers know how to read a rate sheet. Far fewer know how to read a P&L. In this episode of Laugh, Lend & Eat, Fobby Naghmi and Justin Neal sit down with Gabe Gillen to break down what is actually inside a mortgage P&L—and why understanding the numbers behind production matters just as much as closing loans. We get into revenue, expenses, profitability, margins, staffing costs, and the financial decisions that can quietly determine whether a branch or mortgage business is truly healthy. Because production and profitability are not the same thing. You can close a lot of loans and still build an unhealthy business if you do not understand what it costs to generate that production. This is the conversation many of us wish we had much earlier in our mortgage careers. In Part 1, we discuss: What a mortgage P&L actually tells youRevenue versus true profitabilityWhere expenses begin to add upUnderstanding the cost of productionWhy volume alone does not tell the whole storyThe numbers loan officers and branch managers should understandLessons we learned the hard wayFeaturing: Gabe GillenHosts: Fobby Naghmi & Justin Neal Laugh, Lend & EatReal conversations about mortgage, sales, leadership, business—and the lessons nobody puts in the training manual.

  5. Sep 30

    2026: First Year as a Loan Officer — Getting Comfortable with the Uncomfortable

    What does it really feel like to start over in mortgage when you have zero industry experience? In this episode of Laugh, Lend & Eat, Fobby Naghmi and Justin Neal sit down with Eleni Theodorakos, a brand-new loan officer navigating her first year in the business. Eleni describes the beginning in one word: terrifying. She talks candidly about leaving a world where she already knew how to succeed, stepping into mortgage, and realizing, “I think this is the hardest thing I’ve ever done.” The conversation gets into the parts of becoming a loan officer that rarely make it into the recruiting pitch: learning dozens of systems, questioning whether you made the right career move, dealing with a long sales cycle, figuring out which daily activities actually produce income, and finding the little wins when the results have not shown up yet. Most importantly, Eleni explains why she keeps going. Instead of retreating when things get uncomfortable, she keeps adjusting, learning, and putting her energy into the business. As she says, once she gets that energy channeled in the right direction, “there’s going to be no stopping me.” Fobby and Justin also look back at their own early years in mortgage and discuss why beginning your career in a difficult market may ultimately make you a stronger loan officer. This episode is about more than mortgages. It is about starting before you feel ready, questioning yourself without quitting, and learning to get comfortable with the uncomfortable.

  6. Sep 23

    Top 10 Mortgage Fraud Red Flags for 2026

    Fobby and Justin open with Labor Day mortgage-market news — rates at a 12-13 month high, a surprising bump in purchase applications, UWM's FHA/VA share gain, Rocket's broker-poaching offer, and reactions to NEXA's new "NEXA Unlimited" 100%-revenue model — then spend the back half of the show counting down a top-10 mortgage fraud red-flags list from compliance firm Captify, trading war stories from their underwriting and originating days (a bankruptcy that blew up a refinance, a $32-33M "Robin Hood of mortgage fraud" case, fake-landlord rental scams, and a power-of-attorney bank account standoff) along the way. Market news recap Mortgage rates: Freddie Mac's 30-year average hit 6.71% (week of Sept 3, 2026) — Fobby called it a 12-month high; Freddie Mac / AP actually reported it as a 13-month high. Minor correction if precision matters.Year-over-year: Fobby's "6.50% a year ago, up 21 bps" is accurate — Freddie Mac's own release confirms the year-ago (Sept 2025) average was 6.50%.Purchase applications: Fobby cited "purchase applications rose 0.8% for the week ending August 28." That 0.8% figure is actually the MBA's total Market Composite Index (purchase + refi combined). The seasonally-adjusted Purchase Index specifically rose 2% that week per MBA's release — an even better number than what aired. Worth a correction or a "we undersold it" follow-up post.FHA/VA share gain: directionally consistent with the tighter-DTI, higher-rate environment discussed; not independently verified against a specific data source in this pass.UWM FHA/VA volume, Rocket's $10K broker referral offer: anecdotal on the show; not independently verified — good candidates to source/cite if reused in written content.NEXA Unlimited: confirmed accurate. NEXA Lending launched "NEXA Unlimited" on Sept 1, 2026, giving loan officers access to 100% of revenue on qualifying loans from their first closing, with no flat fee, per-file fee, correspondent funding fee, margin, or closing fee, and no production/recruiting minimum (that requirement remains on the older NEXA100 program). CEO Mike Kortas's quotes on the show track the actual press release language closely. Quotable moments "The silver lining is that if you're still a loan officer in September, you've made it." — Fobby"If you tilt your head to see the other guy, you lose a second and he gains it on you." — Fobby, on staying in your lane (with the Michael Phelps analogy)"These are the scum of the earth." — Justin, on unlicensed mortgage-relief firms preying on distressed homeowners"He's a super nice guy — that's the red flag." — on an LO offering a kickback for a rate discount"Fraudsters love payment methods that are fast, final, and hard to reverse." — Fobby

  7. Sep 16

    Behind the Curtain with the Mortgage Nerd

    Denise Donoghue closed 724 families in her best year — solo. Less than 2% of it came from social media. Donoghue, known across the industry as "The Mortgage Nerd," joins Fobby Naghmi and Justin Neal to pull back the curtain on what actually drives numbers like that. We talk about the discipline behind the phone calls nobody wants to make, her "hot mess express" first 30 days in the business, and the client-experience philosophy — down to tracking favorite coffee orders and cookies — that keeps clients coming back years later. Plus: recruiting culture, the "shiny object syndrome" excuse LOs love to reach for, and why Denise says most of it still comes back to picking up the phone. Follow Laugh, Lend & Eat for more real conversations from the mortgage industry. Topics covered: [00:29] Cold open — hand-shaving-for-cash auction story and a Pink Floyd/Impractical Jokers tangent[02:24] Bond market update — modest overnight improvement on inflation data[02:54] Callback: the "I don't sell rate, I sell service" line that Kristin Messerli caught Justin on.[10:06] Denise Donoghue joins — introduced as "The Mortgage Nerd," a mortgage industry veteran recognized for her personal brand built on Instagram and YouTube before it was common in the space[11:14] Denise's philosophy on authenticity in content — the ruined Pottery Barn glow-in-the-dark bedsheets story[21:09] Upbringing, her twin sister, and how hardship shaped her — plus how she's trying to teach her son the same lessons without the same pain[25:15] "Behind the curtain": the real math — 724 families closed solo in her peak year (2020–2021), $100M+ average in recent years, and less than 2% of business coming from social media[31:54] Recruiting culture — Denise and Fobby land on the same point independently: RVPs are good at recruiting, not at developing. Fobby's line to candidates — "Why would you give me your commission if I can't help you get to the next level of your life?"[33:09] "Shiny object syndrome" — the industry excuse of blaming missing tech/products instead of doing the work[40:43] Denise's first 30 days in the business — "a hot mess express" — and the moment it clicked: calling back pre-approved clients to see if they were still looking[45:52] The client-experience philosophy — custom CRM fields for favorite Starbucks orders, cookies, and anniversaries; red velvet cupcake story[47:10] Rapid-fire: CRM access request and "are you a people pleaser?"[48:08] Texas barbecue recommendations and an open invitation back for episode two

  8. Sep 9

    Tacos, Trends & Trust w/ Dalila Ramos

    Fobby and Justin kick off the second half of Season 7 after a six-week break, joined by returning guest Delilah Ramos — a self-employed mortgage industry connector, brand builder, and (as the guys tease her) "brand queen" — who just hired her first employee. The trio dig into the week's biggest mortgage headline, then get personal with Delilah about the philosophy behind how she builds and prunes her business relationships. Topics covered: [00:01] Season 7 returns — the guys catch up after the break[04:20] Industry news: Nexa Mortgage's acquisition of U Mortgage, and what it means for the "brokers are better" narrative vs. non-delegated lending[08:44] Inflation data in the news[08:44] Delilah addresses the M&A rumor mill — no, she's not sitting on a secret list[16:19] Getting to know Delilah: her teenage plan was the military, then law enforcement — working up to detective or FBI (fueled by a steady diet of 90s cop shows: New York Undercover, Beretta, CHiPs, Kojak)[26:35] Hot-seat question: what's harder — walking away from a bad-fit relationship early, or realizing mid-process that it's not a fit after all?[35:00] Delilah's "bless and release" philosophy — why actions, not words, decide who stays in her circle[39:23] How business relationships blur into real friendship — clients who become family[41:23] On trust, giving first, and playing the long game with relationships[44:00–48:00] Wrap-up: stepping back from the NBA conference speaking circuit after a standout talk in Atlanta this July, and her advice to her 25-years-ago self

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Ratings & Reviews

5
out of 5
5 Ratings

About

Laugh, Lend, and Eat is where business meets banter. Hosted by Fobby Naghmi the show explores mortgage lending, leadership, fintech, and sales—with a side of humor and food talk. Known for his ability to ask candid, thought-provoking questions, Fobby creates a space where guests open up and real insights shine through. It's smart, relaxed, and made for professionals who want to grow, lead, and laugh along the way.

Information

  • Creator
    Fobby Naghmi
  • Years Active
    2020 - 2026
  • Episodes
    245
  • Rating
    Explicit
  • Copyright
    © Fobby Naghmi
  • Show Website
    Laugh, Lend and Eat

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