Mortgage Blog

Just got an email from my mentor today saying that
he just finished his 5k race over the weekend for
only 18:14:89. The pace is less than 6(I am 8 now).
I do learn a lot from him about the encouragement,
the running, diet, losing weight, etc, though he
is 11 years younger.

When I worked in Kana, I had a very good manager,
we worked as team, I did the database tuning, and
he focused on Java Code tuning. What I learned from him
is not timing the market, disciplinely doing everything.
While lots of other earlier emploees did not sell the
stocks when it was high, he did it every month. And he
joined Google in 2001, and he also sold the stocks every
month when he was able to do so. I used the same principle
in the mortgage rate locking. I locked the rates
all the time, as long as the client agreed. Though I tried
to wait for better rates, to your surprise, they might
go to other brokers, since they don't have the guts
waiting, and they don't feel comfortable of waiting.

A few years ago, I used two mortgage coaches. Not many
loan agents used those service, and some other agents asked
me not using it. My logic was, Michael Jordan is one of the
greatest basketball players, he still used coaches, and Phil
Jackson helped him with 6 champions, while Doug Collins did
not help him with any though he was pretty good.
Both of the coaches told me about the website, newsletters, etc.
But they did mention the niche market. I did not take the
advice as to go to special market, like reverse mortgage etc,
but I did special in certain programs which avoid the turn overs.
For the last 3 years, I did focus a lot of the ARM rates,
and the reason was that it was kid of easy predict the trend
and also the borrowers needed to refinance at least every a few
years.

In every area, it's hard to get mentors willing to help you.
You would be lucky if you indeed have one.