ABC's Advisor Seminar Series spotlight on: Sue Woodard, vice president of the Mortgage Market GuideMortgagePress.commortgage planning, client needs, wealth planning
Sue Woodard is a national sales trainer and home loan originator
based in Minneapolis. Sue started on the ground floor of the
mortgage business in 1993 as a loan processor and, over the years,
worked in a variety of operational roles. But since deciding to
originate full time in 1998, she has consistently been a top
producer, along with managing a highly motivated team. Sue's
profitable business is 100 percent by referral.
Sue is an active originator and a highly sought-after industry
speaker, trainer and writer, while also hosting her own financial
radio show every Sunday morning. She is the vice president of the
Mortgage Market
Guide (MMG), as well as the lead writer for the Mortgage Market
Guide Weekly. Woodard is a member of the Mortgage Association of
Minnesota, the Minneapolis Board of Realtors, the Women's Council of Realtors and is on
the advisory board for Ellie
Mae.
Sue Woodard is just one of the featured speakers at American Brokers Conduit's
successful nationwide Advisor Seminar Series. Other industry
experts who will be presenting at ABC's Advisor Seminar Series
throughout the United States are Todd Duncan, Jim McMahan, David
Kuiper, Barry Habib and Greg Frost.
The Mortgage Press recently sat down with Sue before
one of her seminars to get a briefing on what Sue would talk about
during her ABC's Advisor Seminar Series presentations.
The Mortgage Press: Everyone seems to be talking about
mortgage planning, but why do you believe it is important?
Sue Woodard: The climate is changing by the day! We can't
just want to be better, we have to be better! Just watch, read or
listen to any media outlet for a few minutes--you'll hear about the
mortgage industry, most specifically related to the recent issues
in the sub-prime arena. Brokers need to understand that we have a
significant responsibility to our clients, and we must raise the
bar on knowledge to help clients meet their long-term
objectives.
True mortgage planning is based on the foundation of
understanding each client's comprehensive financial picture and
long-term goals--and perhaps more importantly, their hopes and
dreams! With this knowledge and the help of other members of a
client's wealth creation team, including those such as a CPA,
estate tax attorney, insurance agent, financial planner and
investment advisor, a broker can offer the most suitable loan
product and help a client fund their retirement needs, plan for a
child's college education, reduce taxes and protect assets. This is
real mortgage planning--and it adds real value to a client. It
offers the broker the opportunity to differentiate themselves from
the competition and better position themselves for long-term
success.
TMP: What are clients saying about the wealth planning
and mortgage planning approach?
SW: We are finding that clients are in real need of this
collaborative financial advice. Really, clients want to be asked
about their goals and dreams and objectives--and be provided with
solutions and strategies to help make those a reality! Right now,
the very harsh reality in the United States is that many are not
financially prepared for retirement or paying for a college
education for their children ... or, worse yet, they have maxed out
their credit cards and are living paycheck to paycheck. The right
mortgage--and let me be clear, the right mortgage is not simply the
lowest priced mortgage--utilized in the right situation can have a
significant impact on a client's life.
TMP: What will you share with the mortgage brokers
attending your ABC's Advisor Seminar Series presentation
today?
SW: My seminar is titled, "Changing Lives with Wealth
Creation and Mortgage Planning Strategies." I will be sharing the
keys brokers need to jumpstart a client's wealth creation plan,
including developing a wealth creation team, identifying a client's
financial needs and goals, calculating blended debt rates,
preparing for college expenses, determining retirement planning
strategies, analyzing estate tax issues and using trusts as a
solution, helping financially protect your clients and their
families, and understanding the [alternative minimum tax].
And perhaps most importantly, I want each broker to understand
how they can apply these principles to their own financial lives.
To make sure their own family and finances are protected.
TMP: Where can a mortgage broker gain a deeper
understanding of mortgage planning in order to be in a better
position to help clients and become part of a wealth creation
team?
SW: First, mortgage brokers can start by attending one of
ABC's Advisor Seminars on wealth creation and mortgage planning.
ABC's Advisor Seminars are being held throughout the country
throughout 2007. Second, brokers can pursue certifications that can
increase their financial knowledge and expertise regarding the tax
and financial planning implications of various mortgage strategies.
Through organizations such as the Certified Mortgage Planning
Specialist (CMPS) Institute, brokers can receive ongoing training
that integrates sound financial planning advice into the mortgage
process. For example, CMPS Institute offers a three-day intensive
high-level training course for mortgage brokers called CMPS Live!
This training provides educational information geared towards
increasing a mortgage brokers' financial knowledge to help them
become CMPSs. The CMPS designation is becoming a widely recognized
mortgage planning certification in the industry with the curriculum
incorporating five essential skill sets related to integrating a
client's mortgage, debt and home equity strategy into their overall
financial plan. And in the competitive market we are operating in
currently, it's more important than ever to show your clients and
referral partners that you are a step ahead and a cut above the
rest of the pack!
TMP: You have been a motivating and successful trainer
for many years. Do you have any results to share with our readers
on what kind of success mortgage brokers have had following your
advice?
SW: Zoomerang recently
completed an independent survey of brokers that have attended my
seminars and become members of MMG, and after at least one year of
being a member, they found that as a result of their membership, 91
percent of our members do more loans per year, 93 percent make more
money and 85 percent developed more referral partnerships. In fact,
100 percent of survey respondents rated MMG as very valuable for
their business--and I'm very proud of that! Having the opportunity
to work with ABC at their very successful Advisor Seminar Series in
order to help raise a mortgage broker's professional standards and
build a more sustainable business is truly a winning
partnership.
For more information, visit www.abc-advisor.com.
