Technology in the nonconforming market

Technology in the nonconforming market

December 6, 2004

Mortgage Technology and Beyond: Every Mortgage Broker Needs a LoanToolboxJohn D. Svirsky Tim Braheem, Greg Frost, Barry, Barry Habib, success tools, Act! templates
Over the years, I have found that the way to riches, personal
fulfillment and material wealth is by helping others fulfill their
dreams. LoanToolbox is a great system for success, created
by people who are from and have mastered all aspects of the
mortgage business, and now they are sharing it with the rest of the
industry. The synergy of top professionals sharing their
passion, expertise and knowledge is mentally stimulating, and I
love having my preconceived notions challenged and stretched. No
one has mastered the whole process, and LoanToolbox brings together
the tops in each aspect of the business and makes them available to
you. And helping to empower others is exactly what we are doing in
the mortgage business; we are helping others fulfill their
I find LoanToolbox extremely generous with the information and
programs provided. You may be paying top-dollar for it, but
believe me, it's well worth twice the price of admission.
LoanToolbox gives us all a chance to benefit from what other
brokerslike Tim Braheem and Greg Frost, for examplehave worked hard
and long to develop and perfect.
Lets skim the top for a moment: Tim teaches about time
management, marketing, database mining; the right programs to use
and the ones that are a waste of time and energy. When you sign up,
you get $2,000 worth of Greg Frosts materials as part of the
package. (I don't know if they have calculated how many thousands
of dollars Tim Braheem's proven techniques and programs are worth,
but they're off the charts in value.) Daniel Harkavey (Todd
Duncan's coach) provides valuable insights, Barry Habib's talking
of the future of mortgage rates are terrific and informative, and
the list continues.
When you sign up for this service, you get much more
than you have spent. For instance, when the rates went up
dramatically, Tim sent out an instant message telling us how to
send e-mails and calls to all our clients explaining what is going
on in the market place, calling as many as possible and suggesting
that we lock in; he even went as far as to provide a commentary
from Barry Habib to let our clients and referral partners know that
we are a trusted adviser and not just another salesperson. The
bottom line is that you will be able to provide them with
up-to-the-minute information that is useful and timely.
For several years, I would receive promotional literature about
LoanToolbox in my inbox, and did with it what I do with most
promotional literature, nothing. Eventually, it was trashed. One
day, while talking to Barry Habib, he told me that Rich Katz over
at LoanToolbox had made a lot of positive changes and I should
check out their site.
LoanToolbox is the only site you need if you want to
become a better loan officer. It gives you the tools to
make yourself more valuable to your referral sources and to your
clients. It gives you the programs to make the client and your
referral partners want to use you, rather than having to sell them.
You can become their trusted advisor and bring added value to the
mortgage process. The teachers are people like you and me, except
they do more than $100 million a year in originations (and some of
them have even closed more than $1 billion in origination in their
careers). This site is made up of winners, not professors,
or people who view the mortgage industry from the
sidelines. This site is so crammed with information it
will take hours to sort through it all. It is designed to be
navigated at your leisure¾choosing a section, working on it
and then moving on to the next. was designed so that if you don't want to spend
time reading how to do something, you click on the movie button by
topic and you can learn by watching a movie. For guys like me, this
is the difference between learning and spacing out. The movies are
professionally made and will help loan officers in your company who
are not students learn in their own way. Call them up and have one
of their salespeople walk you through the site and introduce you to
the various sections. As jaded as I am with so many of the mortgage
sites available, LoanToolbox is truly an originators dream come
A subscription to the site will cost you some money, probably as
much as many originators will make on one deal, and unfortunately,
most of us are too thrifty when it comes to investing in our
educations. We find ways to justify doing without or convincing
ourselves that what we have is doing just fine, feeling smug that
we did not have to spend much money to be successful. Stop and try
a new attitude. LoanToolbox is going to give you so much.
It has the potential to inspire you, guide you, teach you and let
you learn from other mortgage brokers around the country.
It will help you to develop referral relationships, and provide you
with specific marketing techniques and programs. It shows each of
us effective techniques to marketing to new and existing clients.
There is even an entire section on selling and educating your
referral sources, including real estate agents, financial planners,
accountants, etc.
My favorite section, however, is Systems for Success, in which
LoanToolbox teaches how to use specific mortgage-related programs
to increase your sales and closing ratios. This section offers a
step-by-step guide to creating an efficient system for processing
loans; a section on team building and what they call DISC
Personality Profiling, which helps to give your employees, clients
and referral sources exactly what they want from you.
Before finishing up this review, I want to share some of my
personal experiences with LoanToolbox. On the Web site, there is a
45-minute audio on credit repair, and I think that is one of the
major profit centers for 2004. I love the community board
sectionone of the sites most hidden gemswhere mortgage brokers from
all over the country talk, give advice and ask each other for
I can go on, for there are hours and hours of information on
this site all geared to help brokers make more money ... so much,
in fact, that I am giving LoanToolbox my coveted five-star
review. Check it out and let me know what you think. I
look forward to hearing your stories of success!
John D. Svirsky has been a mortgage broker for 24 years now,
doing both commercial and residential mortgages, a volunteer
firefighter, avid cigar enthusiast, and cook. He may be reached by
phone at (845) 424-3388 or e-mail .
Product Summary
Name of Product: LoanToolbox
Use: A Web site whose mission is to provide the
highest level of education to the loan originator. It provides
proven techniques, marketing programs to get the business to come
to you providing Act! templates to improve the efficiency of
working your database and online tutorials on subjects of concern
to the mortgage broker/banker.
Price: $1,495 (and worth every penny)
Recommendation: LoanToolbox is one of only six
programs to receive my highest recommendation in seven years of
writing technology reviews.
Contact: Visit or call
(818) 735 5970 for a personal demo. Rating: Five stars. One of only
six programs to receive five stars from me in the past seven years
of reviewing mortgage technology