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and Prepare For

The New One Stop Shopping Paradigm

"A set of assumptions, concepts, values, and practices that constitutes a new way of viewing reality for the community that shares them."

     This exciting new paradigm change has been underway since 1999 with the partial repeal of the Glass-Steagall Act, and will continue for many reasons, primarily due to consumer demand.  MORTGAGE MONEY INC. was among the very first in the Country to recognize and adapt to this trend, and we look forward to sharing it with you.

     The MORTGAGE MONEY, INC one stop real estate and mortgage business model dramatically increases service levels, while reducing the cost of the transaction for the public.  The Realtors’ professional competency improves measurably, while reducing risk and increasing customer satisfaction.  It offers an authentic one-stop shop that customers will support, and competitors will find very difficult to compete with.

Consumer Demand

     Consumers demand more today than they ever have before, and that's why you must act now to stay competitive.  Consider that in 1996, less than 5% of homebuyers were utilizing the Internet in their home search and by 2006 that number had grown to 80% or more.  In just ten years we have seen a HUGE shift in how consumers buy property. 

     Consumer demand for one stop real estate and mortgage shopping is at an all time high, and like the Internet, is not going away.  Consider the results of  this consumer survey conducted by Harris Poll:

• 82% of home buyers would "strongly" or "somewhat" strongly consider using a one stop shopping service for their home purchase.
• When a home buyer is aware that a real estate brokerage firm offers a full range of services, it positively affects their selection of a real estate agent 44% of the time.
• The preferred sources of one stop shopping programs are mortgage brokers, banks, and credit unions and real estate brokerage firms.
• 64% of home buyers who recently used one stop shopping programs had a much better overall experience with their home purchase transaction.
• Over 90% of home buyers who did not use one stop shopping programs believed that if they had used one, they would have had a better overall home purchase experience because;
  • They would have had just one person to contact
  • They would have saved money if the company
  • It would have sped up the home buying process
  • It would have prevented things from falling through the cracks and would have assured one standard level of brand-named service from all providers of the home purchase services.

External Competitive Pressures

     There are visible tracks showing a trend in the banking industry to move into real estate brokerage and compete directly with Realtors.  In 2004 the OCC issued a final rule identifying types of state laws that are preempted from affecting national banks, including mortgage lender/broker licensing laws, escrow account laws, credit score disclosure laws, and anti-predatory lending laws. In addition, the OCC has reserved for itself enforcement of all rules against national banks and their operating subsidiaries, further centralizing and expanding banking powers. 

     Realtors who operate mortgage, title, appraisal and other businesses now will have to compete with federally chartered banks that don’t have to comply with the same state laws that they do. If the big banks ever do get Washington’s permission to broker real estate, it’s a small step for them to claim exemption from state real estate regulation as well. They’ll have one more huge anti-competitive advantage over traditional real estate companies—they won’t need to worry about state licensing.

     More recently, the Office of the Comptroller of the Currency issued several rulings that go beyond the statutory authority of banks to own real estate to accommodate their business. Permitting banks to develop and own luxury hotels and develop luxury residential condominiums for sale stretches the law to the breaking point.

A New Paradigm

      Why is all this happening?  Because consumer demand is driving it.  One stop real estate and mortgage shopping first appeared on the scene in the mid nineties and has been gowing in popularity ever since.  Consider the fact that Lending Tree owns and operates Real Estate.com; a lending company that harvests borrowers for loans, then refers them to Realtors working at a company owned by Lending Tree in return for a large referral fee from the Realtor.   

     Non-traditional Internet business models, engendered by technology have eroded the perceived value of real estate and mortgage professionals to consumers.  These circumstances have given rise to our unique perspective on the consolidated services business model.  A  one-of-a-king business model that greatly benefits both the consumer and the real estate broker.  

Quasi One Stop Shop Versus Authentic One Stop Shop

"qua·si:  adj.   Having a likeness to something; resembling: a quasi success.

     There is a huge difference between between a quasi one stop shop and an authentic one stop shop to both the consumer and the Realtor / Originator.  It's interesting that Dictionary.com uses the terms "a quasi success" in their definition, because that's exactly what the quasi one stop shop delivers. 

     The quasi one stop shop increases the cost of the transaction by incorporating more labor than is necessary, and reduces the convenience and service level to the consumer by separating the knowledge base required to complete the transaction into two separate people or entities.  The authentic one stop shop incorporates the knowledge base into one professional and empowers the individual to set pricing, and control the process; leading to greater competency and customer satisfaction.

     Most, if not all, of Mortgage Money Inc. competitors utilize some form of the quasi one stop shop business model.  This means they retain control of the pricing, underwriting, processing, locking and closing process of the loan.  The problem with that is, the whole reason Realtors want to originate their own loans is to get more control of the transaction; the quasi one stop shop severely limits the Realtors ability to get that control.  This can lead to a situation where the Realtor feels more responsible for the outcome, yet powerless to change it.

Mortgage Money, Inc. Has The Perfect Solution

     Mortgage Money, Inc. offers an authentic one stop shop that is a turn-key, RESPA compliant, high-tech, low cost solution for Realtors who want to deliver what the market demands.  In-house mortgage companies can't compete with this!  Finding ways to increase service levels to the consumer while increasing revenue is imperative.

Specifically, our program offers you: 

• 30-60% increase in revenue per transaction.
• Unparallelled control of your transactions.
• Comprehensive loan origination training program.  Counts toward real estate CE too.
• A proven and standardized process for integrated real estate and loan services.
• A competitive loan product line covering Conventional, FHA, VA.
• A Respected, Turn-key finance identity.
• Secure personal webpage for loan applications – integrates with your existing site.
• Email; yourname at mortgagemoneyinc.com
• Remote Desktop -  convenient office access from any Internet connection.
• Mortgage industry's leading loan origination software.
• Complete video instruction, training tools and guidelines.
• Pre-designed customizable marketing materials.
• Monthly loan product presentations and training from Investors.
• The “Mortgage Money Wire” – a daily pulse on market conditions.
• One-on-one coaching on your first several deals.
• Broker Manager experienced in both real estate and finance. •

What Does It Cost?

     The cost of State licensing requirements, pre-licensing course and testing, and the Mortgage Money, Inc. program can be completely recovered in 1 or 2 transactions depending on the loan size.  We offer high value in our compensation plans; choose from a super low monthly fee combined with a percentage split, or slightly higher fees with no percentage split.

How Much Time Is Required?

      Once properly trained, you will be able to originate a typical loan in 1-3 hours or about the same amount of time it takes to put a contract for purchase together or submit a property to the MLS.  The dollar per hour return on loans compared to the dollar per hour return on real estate is approximately 3:1.  So, it's well worth the amount of time expended.

     Initial training consists of viewing our training videos and working with a co-originator for your first few deals, followed by regular product presentations from various lenders such as Wells Fargo, Chase, Countrywide and others.  The amount of time required to become certifed in loans is no more than typical designations sought by many Realtors, and much more profitable and quantifiable.

How Do Our Rates and Fees Compare To Others?

     Our rates and fees are very competitive, if not lower than most of our competition.  We understand Realtors wouldn't want to offer this service at the "expense" of their customers and clients.  Our "authentic" one stop approach allows the Realtor/Originator to compete extremely well against large companies and other quasi one stop shops.

New Business Opportunities Arise

     With new knowledge and skills comes new opportunity.  Such as the ability to refinance past clients and broker commercial loans, or offer loan modifications and reverse mortgages.  This can be a significant source of additional revenue with this business model.  Stay in better contact with clients and businesses because they reorganize debt far more often than they move.

Originating A Loan For Your Client or Customer Is NOT A Conflict Of Interest Under The Law

     HB07-1322 was signed into law by Colorado Governor Bill Ritter on June 01, 2007.  That bill contained a provision call "Dual Status"; which recognizes the ability of a Realtor to originate a loan for their client or customer with proper up front disclosure.

Reduced Liability

Liability has been reduced through the "Dual Status" provision in the law, allowing a Realtor to offer mortgage services, and secondly through the requirement of bonding and insurance.  Many Realtors don't realize they carry liability by referring a client to a mortgage originator; they may as well originate the loan, make sure all goes smooth, and get paid for it. 

Get Started Today

To sign up with Mortgage Money, Inc. requires a independent contractor agreement, fingerprinting and backgroud check, errors & omissions and bond application.

If you're serious about longevity in the real estate business, you owe it to yourself and your career to get on board.  Call 303-695-4866 or email me at jponzi@mortgagemoneyinc.com to get started.  Thank you.