Website & Internet Origination ... and still being sick

Ever since I announced last Monday that I had been ill and that I felt better -- I've been able to spend no more than a handful of hours on Secret! University activities - maybe 20 hours total this last 8 days! Finally kicking this thing completely, at the rate of three or 4 hours a day, is sloooow going. Still working on the February edition of our free newsletter The Mortgageland Journal today.

One thing that's bugged me most of the last couple of years (as mortgage brokers & bankers have had their focus elsewhere) has been the dwindling attendance at our ground-breaking Website & Internet Origination live classes (my favorite BTW - I like the classes smaller sized anyway, but ....). This class session has been at least 10 hours of information coming at you like a drink out water out of a fire hydraunt! Plenty of info, background, and answers to WHY.

Just now I took a peek our our Press Release page, and noted that it was exactly six (6) years ago this coming Friday, that I mentioned this class. Needless to say, it' s been long-running and actually was the underlying reason I stopped operations and got into teaching. As I (or you) Google - internet origination - we're still in the Number One position for that SERP, in and of itself not an easy accomplishment in the first place. You would think that alone would be one heck of an endorsement, when added to the nearly three+ (3) dozen we have posted from alumni of this class on our Testimonials page. So, even though I'm somewhat bummed out about attendance, I think the specific reason is the presentation on our Class Detail page about this one. Looks like I'm trying to say too much there, people read it, and say HUH? Go ahead, click it and see what I mean.

I'm gonna spend the necessary number of minutes this week (if I can), before the February newsletter hits the streets, and re-word the entire page so it hits the various points in fewer words and more to the point; as everybody in the industry should take this class! Finding and dealing with potential borrowers via a website (if utilized properly), and through the internet is the easiest thing I have ever done in my career - so ..... YOU should pull the trigger yourself.

Been Sick - real sick

I've set a Record. I've taken more colf & flu medicine than is humanly possible for me to actually take! Since just before lunch time Thursday the 10th, I have beeen in bed 24x7. I won't bore you the the details, but think back to when you felt really crappy - then multiply that by a factor of at least 3, that's what it's been like. I rarely catch things like this, but for every 4 or 5 years so so ... should be completely gone in a few more days.

I've been able to keep track of our main website visitor traffic; and through this point, Jan. vs Dec. 65% fewer people have looked at our curriculum, venues, etc. to considering signing up for some help. Web searches are way way down, and it's really sloooow out there in Mortgageland.

Even though I do think (so far during this correction) the majority of the damage has already been done to our industry, with the 'punishment portion' slowing begining to wind down late Fall. From everyone I speak with in originations, vendor suppliers to the business, other long-time industry veterans including several trade-publication editors and publishers I know personally and who have lived through 3 or four of these corrections as I have - it's the consensus 2008 is going to be another terrible year for the residential real estate mortgage lending industry across the board.

Our upcoming Master Seminar set for February 23rd here in Southern California, will provide those in attendance with a variety of past solid survival techniques (that I have watched work one on one!)

Sign up today and I'll buy you Breatkast, Lunch, and show you EXACTLY how to save your beacon.

Lost & Confused - Residential Mortgage Lending Business - 2008

This is exactly how I see the residential real estate mortgage lending industry today!



I have spent much of the last day or so, reading the latest dead-tree (paper) editions of National Mortgage News, Scotsman Guide and Origination News - in addition to the several online news sources I look at regularly.

The news is confusing and all over the place with this or that proposed new rules and regulations, and opinions all over the map about where we're going and what to do about it!

It's easy to see how difficult it can be to draw from the available information and set the proper course. Given the variety of venues we have available for industry training & education at Secret! University, I do hope we have something for everybody (I'm happy to add any new material anyone may want BTW) . I seriously hope our upcoming February 23rd Master Seminar will be well attended, because face to face I know I can help those that attend.

As I hear and read about other industry seminars, they seem to have an agenda, whereas the speaker sets-out their agenda and sorta speaks to that narrow topic, pretty much exclusively. Over the years I have learned I am a pretty good open field runner, and that I can 'bobb and weave' with the best of them. Our sessions are more like a old fashioned town hall meeting, when everybody is involved with a question and answer type conversation, and not someone simply giving a speech - it is that range which I know industry people need and not merely a narrow focus in one area ... and difficult to do, unless the speaker is well versed on all of the potential topics, I know I am.

2007 - A QUICK LOOK BACK

Beginning December 2005, we entered the fourth industry 'correction' in my long career in the consumer residential real estate mortgage lending industry. This correction is proving to be as serious as the industry collapse of 1988, which was a result of the far reaching S&L crisis. As cycles go, the punishment portion of this one should bottom out this Fall, and slowly start to begin to improve. By then, many of the new players that typically emerge during these cycles, should be at hand. However, much like 2007 - until we hit that point, 2008 should be as ugly as 2007 was; maybe even worse.

December 2007 proved to be the most active month on our website in the last 22 months; a strong website visitor showing that we are quite happy with. Unfortunately, even with all that action, our current student base as well as potential new ones are themselves in financial trouble, so very few of them actually took advantage of our products, services and materials in December, or even much throughout the entire year. As with almost every industry vendor/supplier I've spoken with, 2007 was a financial disaster at Secret! University ... we're looking to better times ahead.