“We are so honored to be recognized five years in a row as a Dallas 100 winner and to be included in such an elite group of businesses,” said Stewart Hunter, COO and Founding Partner of Benchmark. “We owe much of this distinguished recognition to the dedication of our employees as well as the enthusiastic support of our loyal clients”, he added.

To qualify for the award a company must be an independent, privately held corporation, proprietorship, or partnership headquartered in the Dallas area. Winners must also demonstrate a 3-year sales history reflecting growth and have credit reports and character satisfactory to the Dallas 100.

Celebrating its 12th year in business, Benchmark is a community of mortgage professionals united by a defined set of core values – relationships, positive attitude, dynamic, excellence, and success.

About Benchmark
Benchmark provides mortgage planning and home loan products through its branches across the country. Benchmark is headquartered in Plano, TX and licensed in 39 states. The company supports over 200 licensed Loan Officers working with thousands of clients every month. Visit www.iambenchmark.info or call 800-236-1824 for more information.

]]> http://www.iambenchmark.info/benchmark-leadership/benchmark-receives-2011-dallas-100-award-for-fifth-year/feed/ 0 http://www.iambenchmark.info/mortgage-experts/mortgage-applications-increase-in-latest-survey/ http://www.iambenchmark.info/mortgage-experts/mortgage-applications-increase-in-latest-survey/#comments Thu, 29 Sep 2011 15:36:16 +0000 nick.carpenter http://www.iambenchmark.info/?p=330 WASHINGTON, D.C.  — Mortgage applications increased 9.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 23, 2011.

The Market Composite Index, a measure of mortgage loan application volume, increased 9.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 9.2 percent compared with the previous week. The Refinance Index increased 11.2 percent from the previous week. The seasonally adjusted Purchase Index increased 2.6 percent from one week earlier. The unadjusted Purchase Index increased 2.2 percent compared with the previous week and was 0.1 percent higher than the same week one year ago.

The four week moving average for the seasonally adjusted Market Index is up 1.96 percent. The four week moving average is down 0.18 percent for the seasonally adjusted Purchase Index, while this average is up 2.60 percent for the Refinance Index.

“Mortgage rates declined last week, at least partially in response to the Fed’s announcement that they would shift their portfolio towards longer-term Treasury securities, and that they would resume buying mortgage-backed securities,” said Mike Fratantoni, MBA’s Vice President of Research and Economics. “With lower rates, refinance application volume increased to its highest level since August 19, 2011. Purchase application volume also increased. However, the increase was in conventional purchase applications, which were up by 4.9 percent. Purchase applications for government loans fell by 0.6 percent over the week, likely influenced by the pending decline in FHA loan limits.”

The refinance share of mortgage activity increased to 79.7 percent of total applications from 78.3 percent the previous week. This is the highest refinance share of mortgage activity since the survey’s re-benchmark in January 2011. The adjustable-rate mortgage (ARM) share of activity decreased to 6.1 percent from 6.7 percent of total applications from the previous week.

The average loan size of all loans for home purchase in the US was $212,700 in August 2011, up from $211,200 in July 2011. The average loan size for a refinance was $241,300, up from $209,200 in July. The largest purchase loans were made in the Pacific region at $304,800. The largest refinance loans were also made in the Pacific region at $344,500.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 4.25 percent from 4.29 percent, with points decreasing to 0.35 from 0.41 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 4.51 percent from 4.55 percent, with points decreasing to 0.38 from 0.46 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA  decreased to 4.05 percent from 4.07 percent, with points decreasing to 0.39 from 0.51 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.47 percent from 3.46 percent with points remaining unchanged from 0.45 (including the origination fee) for 80 percent LTV loans. The effective rate also increased from last week.

The average contract interest rate for 5/1 ARMs decreased to 2.95 percent from 2.96 percent, with points decreasing to 0.48 from 0.49 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also decreased from last week.

If you would like to purchase a subscription of MBA’s Weekly Applications Survey, please contact MBA Research at (202) 557-2830 or mbaresearch@mortgagebankers.org or click here.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990.  Respondents include mortgage bankers, commercial banks and thrifts.  Base period and value for all indexes is March 16, 1990=100.

Check out this quick video tour of the new Facebook Timeline:

We would like to update you on the MortgageDashboard CRM.

-         The CRM is completely built-out and ready to use.

-         The CRM button in the LOS is being activated. (CRM will open in a pop-up window)

-         20 drip marketing campaigns will be live next Friday, September 20^th.

-         We are creating a video tutorial series including adding contacts, adding referral partners, launching campaigns, creating campaigns, and pulling reports.

-         These tutorials will all be available next week on the MortgageDashboard Youtube channel – http://youtube.com/mortgagedashboard.

 The campaigns include:

•  Buyer EBook campaign
• Seller EBook campaign
• Expired EBook campaign
• FSBO campaign
• Expired Listing campaign
• Open House campaign
• Refinance Lead campaign
• Renter to Buyer campaign
• Potential Investor campaign
• Reverse Mortgage campaign
• Real Reasons People Buy campaign
• Web Lead (LO) campaign
• Web Lead (Realtor) campaign
• Seller Lead campaign
• Client Survey campaign
• Buyer Lead (LO) campaign
• Prequalified campaign
• Under Contract campaign
• Full Approval/Closing campaign
• Property Call/Phone Lead campaign

Are there any campaigns or tutorials you would like that aren’t mentioned?

Email realtbox@benchmark.us with any suggestions.

Have a great weekend!

There were 261,000 Bankers/Brokers that could orginate loans in Jan 2010.

As of July 2011 there is now 237,000 Banker/Brokers.

In Jan 2010 sales of existing homes were 3,390,000 and new homes were 2,790.

In July 2011 sales of existing were 4,120,000 and new homes 2,980.

Ok, so all those stats to say this:

In Jan 2010 if you divided all the home sales by orginators,

each orginator would on average close 14 loans if all transactions had a loan.

Today there are less orginators and loan volume is going up based on home sales.

The average for July 2011 would have been 18.6 deals per Loan Officer.  

I think this is extremely valuable information.

What a gut check, numbers don’t lie.

Love you all Stewart Hunter

What is Like-Gating? It is having hidden content on a blog post or page of your website that only becomes visible when someone clicks the Like button. This is a killer way to build big lists and have people virally sharing your content with their sphere of influence on Facebook.

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If we start by making baby steps every single day, we can ultimately achieve our big goals through a series of small, calculated moves that get us there. Just as building a snowman takes many individual snowflakes, our goals take many individual choices to achieve.

If we make one small change everyday for one year, here’s what we could accomplish:

I want to become an expert on a subject. Read for 30 minutes each day: 182.5 hours of new knowledge

I want to lose weight. Taking 2 flights of stairs instead of the elevator: 12,000+ extra steps taken.

I want to have a more positive attitude. Listen to motivational CDs on your commute: 260 hours of positive, motivational messages into your subconscious.

Can you imagine the difference all three of these examples could have on your life after one year?

• 182.5 hours of book reading (30 minutes per day)
• 12,000+ extra steps (2 flights of stairs per day)
• 260 hours of positive messages (1 hour per day while commuting)

What little thing can you start today that will make a BIG difference in one year?

I am not referring to gimmicks, but rather, innovations that have a profound effect on the marketplace, and ultimately, create more relationships that translate to more loans. At Benchmark Mortgage, loan originators and their home offices are sharing their ideas and innovations, and the home offices are listening and developing the ideas, delivering them to their originators and supporting them.

Despite the regulatory environment, it is not a violation to brainstorm, develop ideas and bring them to fruition, working with referral partners … far from it.

In fact, it makes good business sense to educate referral partners and think of them as “idea partners,” working together on the best ways, for example, to communicate with clients—through co-marketing, blogging, Facebook, video or Webcasts. The aim is to generate ideas—and then have a dedicated team in the home office that can develop them and ensure that they meet the needs of users.

At Benchmark, we have created a department that gathers all the ideas. Then, originators are selecting people to serve as the CEO of creativity to lead mastermind groups that take ideas, implement them and support them.

Here’s how that works: Mastermind groups gather mortgage people from different regions that want to increase the size of their business. They scrutinize social media and develop techniques that enable them to rely on video business cards or Facebook to communicate with past clients and their referral partners. They dedicate themselves to finding innovative ways to maintain communication and relationships.

Believe it or not, the approach works.

Once an idea is suggested, the team brainstorms to improve upon the idea, figures out how headquarters will support the idea and determines the best ways to distribute it to business partners. That ensures the ideas are not the private reserve of a think tank, but that they are being tested in the marketplace.

There is cooperation with this approach because they recognize that to perform well requires flexibility and an open mind; one that embraces new ways of doing things that will affect the marketplace in a positive manner because it is creative and fun.

Firms that understand how to apply the techniques of entrepreneurship to innovation have a competitive advantage over companies that are sitting back, content to do business as they always have.

The aim is to get originators and branches to share ideas with their home offices to develop them and support them. All they should have to do is make the video and forward it through the Internet to the home office. It’s then edited and completed for the loan originator or branch partner.

To serve a marketplace and be considered an entrepreneur requires firms to embark on a creative format for generating and implementing ideas and feedback. The aim is to ensure buy-in from the company and to create a process for bringing these ideas to the market.

More importantly, this approach has the added benefit that the creative work will be a part of the culture of the business on a daily basis. Innovation will not be delegated to part-time status, or worse, never undertaken because it is not familiar or comfortable for management and employees.

The approach is exciting for another reason. In reigniting the entrepreneurial passion, these firms are creating a community around innovation. It tends to challenge people, enhance the enjoyment they receive from their jobs and brings out their leadership capabilities. While the goal may have been generating business, the result was much better than expected: A higher level of commitment from employees and clients, as well as a more well-rounded understanding of the business and the forces that make or break a company.

Meet some of the Benchmark Community

Branch Partners and Loan Officers had an opportunity to earn a spot on the cruise based on production and over 40 people were able to experience a weekend in paradise with their spouse.

Our first stop was Great Stirrup Cay, a private island owned by Norwegian Cruise Lines. We were able to enjoy a beach day of relaxing, snorkeling, and more. Some people even went para-sailing.

On Sunday morning, we pulled into Nassau, and were able to walk around and shop in many stores and small gift shops.

We also went to the Atlantis Resort and enjoyed the breath-taking views and gorgeous pools.

Check out our highlight reel from the 2011 Benchmark Production Cruise:

Benchmark Success Award:

Scott & Tammy Shubert

Benchmark Relationship Award:

Sally Bucciero

Benchmark Positive Attitude Award:

Diane Beaumont

Benchmark Excellence Award:

Tom Sherman

Benchmark Dynamic Award:

Dana Hinson

Individual Awards:

Benchmark Top Originator (Units):

Mike Watson

Benchmark Top Originator (Volume):

Andrew Paul & Ken Bates

Benchmark Branch Awards:

Benchmark Top Branch (Units):

Roger & Stephanie Medlock

Benchmark Top Branch (Volume):

TIE – Marty Preston

Roger & Stephanie Medlock

2011 Benchmark Branch of the Year:

Lexington, Kentucky

2011 Benchmark Blue Jacket Recipient:

Marty Preston