wshfc lender event | january 2018wshfc.org/sf/genworthevent2018.01.pdf · these are all strategies...

$: WSHFC Lender Event | January 2018wshfc.org/sf/GenworthEvent2018.01.pdf · These are all strategies you can use to grow your business.\爀ꀀ屲Goals: In a way, you set the g\൯al$
Welcome!

Thanks for coming!

Presenter

Presentation Notes

Corinna: Welcome everyone and thank you for being here today! We’re very excited to host this special event and to learn from Steve’s presentation. Before we get started, we have some exciting new developments here at the Commission that I’d like to quickly point out in case you missed our program announcements.

New Servicers!• Idaho Housing & Finance Assoc—

starting March 1, will purchase Fannie Mae Conventional Home Advantage loans and all House Key Opportunity loans.

• Lakeview Loan Servicing—purchasesGinnie Mae Home Advantage loans (FHA, VA, USDA).

News & Updates

Presenter

Presentation Notes

First—We are thrilled that we will have TWO great servicers working with our loans. Idaho Housing and Finance Association will be starting March 1 to purchase our Home Advantage conventional and all House Key loans. Lakeview Loan Servicing, which has done a great job for us over the past year, will also be continuing to purchase our Home Advantage Ginnie Mae loans (FHA/VA & USDA) These are outstanding servicers who have more than enough capacity for our program and whom you will be very happy with.

News & Updates

New Policies!• Lender compensation increased from 2.00%

to 2.25%

• Max debt-to-income ratio now 50% (up from 45%)

• Manufactured Homes Allowed (FHA)

• Approve/Eligible

• 660 FICO

• Double-wide or larger

• Tax transcripts no longer required on every loan

• Non-traditional credit now OK for FHA

Presenter

Presentation Notes

Secondly, we have a few new policies in the last few months that you may have noticed. We’ve heard your feedback and we want to make our lenders happy as much as we can!

News & Updates

New Reservation System!• No more MITAS—we now use

Emphasys

Presenter

Presentation Notes

Those of you who have reserved with us in the last 6 months also know that we’re using a brand-new and much better reservation system, Emphasys.

News & Updates

New Marketing Campaign:Here to Home (HeretoHome.org)

Poster

FlyerStill fillable with your contact info!

Brochure

Presenter

Presentation Notes

And, we rolled out a new marketing campaign with a new look and feel – as you can see in these slides – and an easy web address: HeretoHome.org. We want HeretoHome to be helpful to you in marketing to borrowers, so we hope you’ll use these new tools. You’ll see more of this in the coming year. Also we would like stories from you on borrowers you helped using our programs. We want to feature the homebuyers and the lenders that helped on our website. Send us your stories along with the names of your borrowers.

Coming Soon:

New and easier system for homebuyer education classes

All online – no more paper! (via EventBrite)

News & Updates

Presenter

Presentation Notes

Finally, we are very close to launching a brand-new system – all online – for entering and registering people for homebuyer education classes. No more paper evaluations! Don’t worry, we’ll give you plenty of notice and technical assistance for the new system—but we know you will find it much easier and better to use than our current system.

Enjoy the presentation!

Washington State Housing Finance Commission @WSHFC_HomeLoans

Questions? Comments?Contact us anytime.

Email: [email protected]

Presenter

Presentation Notes

Finally, I just want to encourage you to keep in touch. We’re always happy to hear from you. You can always email or call us with questions or feedback. And feel free to follow us on Facebook and Twitter. We are happy to come out to your office for a visit with you or speak at a staff meeting. We are here to help further partner with you on reaching homebuyers! With that, I’m going to turn you over to our partners at Genworth to introduce Steve!

Company Confidential ©2012 Genworth Financial, Inc. All rights reserved.

Death By Cliché and Other Business BuzzwordsDon’t Build Your Business Off Of Something You Read On A Bumper Sticker

They Say…

WORKSMARTER

NOT

HARDER

I Say…

WORKSMART

AND

HARD

But They Say…

IF YOU LOVE WHAT YOU DO, YOU’LL NEVER

WORK A DAY IN YOUR LIFE.

Ask Them…

IF YOU LOVE WHAT YOU DO, YOU’LL NEVER

WORK A DAY IN YOUR LIFE.

I Say…

WORKSMART

AND

HARD

Mental or physical activity as a means of earning income.

I Say…

WORKSMART

AND

HARD

SmartDo What Works

Leverage Your Resources

Be Open To Change

Quickly Implement Creative New Ideas (Early Adapter)

Continue To Learn

I Say…

WORKSMART

AND

HARD

HardDon’t Like That Word

Smart

Dedicated (24/7/365)

8

I Say…

WORKSMART

AND

HARD

HardDon’t Like That Word

Smart

Dedicated (24/7/365)

Passionate

Invested

They Say…

DON’T SWEAT THE SMALL

STUFF… IT’S ALL

SMALL STUFF

I Say…

I want to compete

against those who DON’T SWEAT THE

SMALL STUFF

They Say…

THE DEVIL IS IN THE DETAILS

I Say…

Success IS IN THE DETAILS

If You Are All Things To All People…

Depth Beats Width (Products and People)

Identify Resources for Width

Best Way To Learn

GNW MI

14

3 Things You Need to Know About Private MI

www.mi.genworth.com

15www.smartermi.com

16

2 Ways to Cancel MI

http://files.consumerfinance.gov/f/201508_cfpb_compliance-bulletin_private-mortgage-insurance-cancellation-and-termination.pdf

17www.smartermi.com

18www.smartermi.com

19www.smartermi.com

https://www.seattletimes.com/business/real-estate/eastside-home-prices-surge-to-new-record-capitol-hill-area-hits-1-million-median/?utm_source=marketingcloud&utm_medium=email&utm_campaign=Morning+Brief+1-8-18_1_8_2018

The Elephant and Inventory

20

They Say…

There is no “I” IN

team

I Say…

There is no team without

“M”“e”

ME and suCCCCess

Confidence

They Say…

Fake it ‘til you make it

ME and suCCCCess

Confidence

Amy Says…

Fake it ‘til you

become it

ME and suCCCCess

Confidence

Amy Says…

25

http://www.ted.com/talks/amy_cuddy_your_body_language_shapes_who_you_are

I Say…


“M”“e”

ME and suCCCCess

Confidence

Competitive

I Say…

Comfortable Kills

Competitiveness

ME and suCCCCess

Confidence

Competitive

What’s your why?*

*http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action

http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action

I Say…


“M”“e”

ME and suCCCCess

Confidence

Competitive

Committed

Curious

I Say…

ME and suCCCCess

Confidence

Competitive

Committed

Curious

I Say…


“M”“e”

1) Are you committed to excellence?

2) Are you willing to put in the effort?

3) Do you have my best interest at heart?

They Say…Einstein Says…

insanity is doing the same thing over and over

Again and expecting different results.

They Also Say…

If at first you don’t succeed, try, try again.

Dory Says…

Just keep swimming. Just keep

swimming.

Kenny Says…

Know when to hold ‘em. Know when to fold ‘em.

Who’s Right?

What’s Working?

Keep Doing It

What Isn’t?

Stop Doing It

What’s Next?

Start Doing It

You Need a Plan

They Say…

Failing to plan is planning to fail

A goal without a plan is just a

wish

They Also Say…

yolo

Live everyday like it’s your

last

Mike Says…

Everyone has a plan ‘till

they get punched in the mouth

I Say…

Have a plan, but don’t

be married to it

Strategies

Goals

Measurements

Strategy-Tactics

Tactics

Strategy: Where do you want to “play” so to speak? You want to grow your Referral Business? Add more Affinity Partners? Maybe find a way to gain a larger share with that single/renter population? These are all strategies you can use to grow your business.

Goals: In a way, you set the goal when you envisioned your desired customer mix. You decided that you want to increase your Referral Base to 20%...that becomes your goal statement. You could also base a goal around one of your weaknesses.

Measurements: If a goal can’t be measured in some way, it’s really hard to keep it on track and make adjustments. For each strategy/goal combination, you will need to figure out a measurement. Depending on how much work you need to do on each strategy/tactic, the measurements may be incremental, up to the goal vision you had.

Tactics: These are the specific plans you will put into place to achieve your goal

Presenter

Presentation Notes

Take a look at the left hand column – let’s run thru the meaning of each of these. Strategy: Where do you want to “play” so to speak? You want to grow your Referral Business? Add more Affinity Partners? Maybe find a way to gain a larger share with that single/renter population? These are all strategies you can use to grow your business. Goals: In a way, you set the goal when you envisioned your desired customer mix. You decided that you want to increase your Referral Base to 20%...that becomes your goal statement. You could also base a goal around one of your weaknesses.. Measurements: If a goal can’t be measured in some way, it’s really hard to keep it on track and make adjustments. For each strategy/goal combination, you will need to figure out a measurement. Depending on how much work you need to do on each strategy/tactic, the measurements may be incremental, up to the goal vision you had. Tactics: These are the specific plans you will put into place to achieve your goal �

Strategies

Goals

Measurements

Strategy-Tactics Alignment - Example

Tactics

Presenter

Presentation Notes

Take a look at the left hand column – let’s run thru the meaning of each of these. Strategy: Where do you want to “play” so to speak? You want to grow your Referral Business? Add more Affinity Partners? Maybe find a way to gain a larger share with that single/renter population? These are all strategies you can use to grow your business. Goals: In a way, you set the goal when you envisioned your desired customer mix. You decided that you want to increase your Referral Base to 20%...that becomes your goal statement. You could also base a goal around one of your weaknesses.. Measurements: If a goal can’t be measured in some way, it’s really hard to keep it on track and make adjustments. For each strategy/goal combination, you will need to figure out a measurement. Depending on how much work you need to do on each strategy/tactic, the measurements may be incremental, up to the goal vision you had. Tactics: These are the specific plans you will put into place to achieve your goal �

Social MediaCharitable Marketing Campaign

First Time Borrower Strategies

Goals

Measurements

Build Better Business

Tactics

Presenter

Presentation Notes

Now, let’s start working thru this table. For examples sake, we’ll say that after doing your analysis, you’ve decided on five strategies you would like to put in place in order to increase business and shift your customer base. You’ve decided to: Grow your referral business Improve your relationships with both your Realtor and Affinity Partners Leverage business from your past customers Increase pull thru from FTHB seminars Refine how you get business from Social Media

“Social MediaStrategies

Goals

Measurements


Tactics

1. Establish a Facebook page, a LinkedIn page and a blog2. Search for existing customers on the sites3. Set up page appropriately4. Create a post to help friends save money5. Thank people for doing business with me

1. Measure # of social media applicants2. Measure # of closed loans from social media3. Number of friends on Facebook

Get 50 new inquiries through social mediaClose 10 new loans acquired through social mediaCreate a database of at least 100 potential customersMaintain contact with database using social media

Don’t limit yourself to the size of the box!

Presenter

Presentation Notes

Review Slide As you look at some of the tactics, you can see that they will require your to commit to the strategy by spending a couple of hours each week working on the goal. Remembering that one of your listed weaknesses was in the area of organization and follow-thru, committing fully to this goal may help strengthen this area. Working with an affinity partner, may also help you build relationship with the partner, thus “spanning” across goals.

“MillennialsStrategies

Goals

Measurements


Tactics


Presenter

Presentation Notes



Goals

Measurements


Tactics 1. Hire More Millennials


Presenter

Presentation Notes



Goals

Measurements


Tactics 1. Hire More Millennials2. Market to Their Parents


Presenter

Presentation Notes



Goals

Measurements


Tactics1. Hire More Millennials2. Market to Their Parents3. Go Where They Learn


Presenter

Presentation Notes


Give Them A Shopping Plan

Your Strengths?

You Know Where “They” Lack?

6 TIPS WHEN MORTGAGE SHOPPINGDid They Offer a Pre-Approval or a Pre-Qualification? We Offer a Pre-Approval Because…

Did They Offer First Time Home Buyer Training? We Do Because…

Did They Service In-House? We Do And It Is Important Because…

Did They Provide A Neighborhood Info Packet? We Do Based From Information From Homefacts.Com…

Did They Ask If You Were A Veteran? We Do Because We Want To Explore All Options…

Did They Know If You Were Eligible For Home Ready / Home Possible Based On Income And Address? We Explored This With With You Because…

They Say…

80 / 20 rule

Low hanging

fruit

I Say…

Go after the fruit before it

is ripe

Where Do They Come From?

51

Source Number

John

Paul

Madonna

Cher

Mick

Aretha

Presenter

Presentation Notes

Analyze: Customer Base Do you know where your current customers come from? Take a look at the list and rank where you think your current customers are originating from, taking a guess at what percentage of your customer base each “segment” generates for you.

Segmenting: After the Game Plan

GROW PROTECT

STRATEGIZE IMPROVE

Ease

Volume

Mick

Cher

Paul Madonna


53

Source Number PIGS Game Plan

John

Paul

Madonna

Cher

Mick

Aretha

Presenter

Presentation Notes


Where Would You Like Them To Come From?

54

Source Number

George

Ringo

Mariah

Adele

Keith

Whitney

Presenter

Presentation Notes


Segmenting: After the Game Plan

GROW PROTECTED

STRATEGIZE IMPROVE

Ease

Volume

Ringo

Adele

Mariah Keith


56

Source Number PIGS Game Plan

George

Ringo

Mariah

Adele

Keith

Whitney

Presenter

Presentation Notes


They Say…

If life gives you lemons,

make lemonade

I Say…

If The Agent Gives you

lemons, find another agent

who has a Peach tree

They Say…

Knowledge is power

Communication is king

Time is money

I Say…

Knowledge is power

power is derived from what you do with your

knowledge

32 / 35 / 34

54 / 58 / 32

There’s An App For That

61

62

63

64

65

70

KeePass.info

I Say…

Communication is king

Good Communication

is essential

What’s the Purpose of Communication?

74Introduction to the Mortgage Industry

Good Communication

You Them

Message

Goals

+

75Introduction to the Mortgage Industry

Good Communication

You

See / Hear Something

Tell Yourself a Story

Feel

Act

Climb The Ladder To Crazytown

Must See TED





Them

Them

Presentation Title Insert Legal Copy

Them

81Presentation Title Insert Legal Copy


Somewhere Over the… On the Spectrum

ADHD‏

ADD‏

Short Attention Span‏

Distracted‏

Bored‏


Goal Oriented and Visual

You Are 70% There


Write To Remember


They Don’t RememberIt Is Your Job To Be Memorable‏

#

Without Your Taxes…

Your Loan Gets the Axes

A New Credit Card…

Gonna Make Your Loan Hard

#NoNewLoans

#Tuesday@Ten

Message and Delivery

Message

You Them

2 Words To Eliminate From Your Business Vocabulary

Fight

HardLife is HardWork is Hard

Change to MessyLife is Messy Work is Messy

2 Words To Eliminate From Your Business Vocabulary

Don’t Believe Me?

Goals

Message

You ThemGoals

Price

Price

Old Way

We’re Great

Great Rates

Great Products

Great Customer Service

New Way

We’re Different

Provable / Measurable

Talkable

Feelable

They Say…

Time is money

I Say…

Time is money

Time is a finite commodity

Time is manageable

Early Bird Gets Uninterrupted Time To Get Things Done

I Say…

Time is money

Time is a finite commodity

Time is manageable

They Say…

Millennials are the “me” generation.

They are Snowflakes.

Really soft 18 – 34 year olds who take offense to everything you say even if it doesn’t apply to them. They feel the world owes them something because they have always been handed everything, including participation trophies.

Whitney Says…

I believe the children are our future.

teach them well and let them lead the way

I Say…

I believe Millennials are

the future. listen to them and start to

learn new ways.

Social Media

Devices

Responsive Web Design and Relationships

Meme To Remember

Social Media

Thousands of Meme Generators

Social Media

103

Caution

104

Check with Your Legal Counsel Before Using

Multiple Concerns Including, But Not Limited To:

Improper / Unauthorized Endorsement

Copyright

False Advertising

And More

Creativity

105

Open House

Out Of State

Announce Time

Create Event

Write a Compelling Description

Check Signal

Check Lighting

Angle Down

Look at Top of Phone

Name Drop

Practice

Don’t Be Too Quick Or Too Long

Prepare

Pay Attention To Comments

Help From Friends

Split Screen

106

The Numbers

Median Age All Buyers 45 (+1)

Median Age FTB 32 (0)

All Buyers FTB

18 - 24 2% (0) 5% (0)

25 - 34 26% (0) 55% (-1)

35 - 44 21% (-1) 23% (+2)

45 - 54 16% (-1) 8% (-2)

55 - 64 18% (+2)

65 - 74 13% (0)

Over 74 4% (0)

4 Steps of Adulthood!!!Millennials Don’t Grow UP‏Get a Job‏

– Average pay for new college grad highest in 10 years

– Only 15% have jobs upon graduation

– More students have more debt

Get Married‏

– Rate Down 40% since 1960 for 18 – 32 year olds

– 1960 Age 23 (M) / 20 (F) 2011 - Age 29 (M) / 26 (F)

– Homeownership Rate > Historic levels for dual income married couples

Have a Kid‏

– Birth Rate Dropped 2007 – 2012, basically flat

Buy a House‏

Numbers Paint a Picture

116

Presentation Title Insert Legal Copy

https://www.housingwire.com/ext/resources/images/editorial/Kelsey-Ramirez/Folder-1/Screen-Shot-2018-01-10-at-11408-PM.png

They Say…

Best in

class

Ricky BobbySays…

If you’re not first,

you’re last

I Say…

First And ONLY is Lonely

They Say…

Bring your “a”

game

I Say…

Don’t have a “b”

game(I always bring

my “a” game)

They Say…

Follow the

golden rule

I Say…

There are 5

precious rules

Do Unto Others…

As You Would Have Them Do Unto You

Golden Rule

I Say…

There are 5

precious rules

Do Unto Others…

As They Wish To Be Done Unto

Platinum Rule

I Say…

There are 5

precious rules

Do For Others…

For That Will Do For You

Diamond Rule

I Say…

There are 5

precious rules

Do Unto Yourself…

As You Do Unto Others

Silver Rule

I Say…

There are 5

precious rules

Do

Water Rule

facebook.com/thatMIguy

Contact InfoSteve Richman‏[email protected]‏870-2519 919‏

– Please Join Me‏LinkedIn: www.linkedin.com/in/steverichman‏Facebook: www.facebook.com/ThatMIGuy‏

face

mailto:[email protected]

http://www.linkedin.com/in/steverichman

http://www.facebook.com/ThatMIGuy

Legal Disclaimer‏ Genworth Mortgage Insurance is happy to provide you with these training materials. While we strive for accuracy, we also know that any discussion of laws and their application to particular facts is subject to individual interpretation, change, and other uncertainties. Our training is not intended as legal advice, and is not a substitute for advice of counsel. You should always check with your own legal advisors for interpretations of legal and compliance principles applicable to your business.

‏ GENWORTH EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THESE MATERIALS AND THE RELATED TRAINING. IN NO EVENT SHALL GENWORTH BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER WITH RESPECT TO THE TRAINING AND THE MATERIALS.

‏

face

wshfc lender event | january 2018wshfc.org/sf/genworthevent2018.01.pdf · these are all strategies...

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